NuBits

[nomoreheroes7]

could nubits be a threat? they seem to be climbing up steady lately.

Lol, it's nothing but a huge pump and dump right now. The price is being manipulated 100%, and no one really knows what nubits could bring to the table. As that is the case, it could very well be a threat, but the current price technically has nothing to do with the tech and everything to do with hype.

[cryptkeeper]

could nubits be a threat? they seem to be climbing up steady lately.

[donkeypong]

Thanks; I don't have a delegate myself, but I support CoinHoarder.

[eagleeye]

I'm feeling a bit sorry for NuBits to have chosen this week to debut. Then again, the rate things move in cryptos, there's still time for another pump & dump or two before their announcement. Maybe we'll find out it's really just a bite-sized energy bar ("NuBits: A healthy snack on the go, anytime, anywhere").

donkeypong: lol

On a different note, for your delegate have you signed up to www.beyondbitcoinx.net .  It is where you can express your delegate policies easily.

[donkeypong]

I'm feeling a bit sorry for NuBits to have chosen this week to debut. Then again, the rate things move in cryptos, there's still time for another pump & dump or two before their announcement. Maybe we'll find out it's really just a bite-sized energy bar ("NuBits: A healthy snack on the go, anytime, anywhere").

[eagleeye]

We'll see.  Sunny King is no dummy and the group working on nubits has been basically doing most of it in the dark of night.  We honestly have no way to know what is coming (thus, BM's "buy the rumor sell the news"). 

As far as CoinoUSD: it is a sad, sad attempt at trying to compete with a project that has proven it cares more about innovation than simply making bank off of a crypto-fad.  NXT has been consistently losing my respect the more I read about their "assets" and the lack of accountability for rip offs. 

BitShares and bitUSD are so much more than most people can even comprehend at this juncture.  The implications are really going to be something spectacular.

Sunny King is not involved with the project from what I can tell. Jordan Lee is the project's lead developer. Anyways.. I guess I read the announcement wrong, I thought this was the news. It is unclear to me if they will have a decentralized exchange, or if everything will be done with a market maker on a centralized exchange. If it is on a decentralized exchange, it seems they are going to put a market maker on the centralized exchange to claim their market peg works better than any other solution. On second thought this could be very bad PR for us if the latter is true.

We have some time....man the ships boys...we have a war to fight.   (Whoever said this was not a fight knows nothing of business....business is war...to the winner goes the spoils).

[CoinHoarder]

We'll see.  Sunny King is no dummy and the group working on nubits has been basically doing most of it in the dark of night.  We honestly have no way to know what is coming (thus, BM's "buy the rumor sell the news"). 

As far as CoinoUSD: it is a sad, sad attempt at trying to compete with a project that has proven it cares more about innovation than simply making bank off of a crypto-fad.  NXT has been consistently losing my respect the more I read about their "assets" and the lack of accountability for rip offs. 

BitShares and bitUSD are so much more than most people can even comprehend at this juncture.  The implications are really going to be something spectacular.

Sunny King is not involved with the project from what I can tell. Jordan Lee is the project's lead developer. Anyways.. I guess I read the announcement wrong, I thought this was the news. It is unclear to me if they will have a decentralized exchange, or if everything will be done with a market maker on a centralized exchange. If it is on a decentralized exchange, it seems they are going to put a market maker on a centralized exchange to claim their market peg works better than any other solution. On second thought this could be very bad PR for us if the latter is true.

[eagleeye]

We will make the trading bot open source at the same time we release full project details to the public so there won't be any mystery about how it functions.
- Jordan Lee

Sounds similar to something Dan has recently talked about in one of the hangouts.

It's been known for a while that bots can automate the process of maintaining pegs. Dan in his original whitepaper had automation as a core axiom. I don't know why more focus isn't on automation but I suppose there are more fundamental concerns.

Do you mean to say that Bitshares is planning on possibly implementing a bot to maintain the peg as well? That could be seen as trying to copy Nubits' technique at this point in the game...

It does not matter if you copy them.  Whatever works is the way to go.

To peercoin and NXT

[fuzzy]

All trading bots carry risk on the operator.  Bots can only automate processes people can do by hand.

The economic incentive needs to be sound.   If you rely on bots to perform then it is fundamentally broken. 

If a low net worth individual is unable to use the same strategy then it is broken. 

With nubits, buy the rumor sell the news

I agree. It seems BitSharesX remains the superior solution compares to Nubits, and Nxt Dex/CoinoUsd. Peer coin got pumped x2 its value on this news... I bet it gets dumped right back to where it was a few days ago.

We'll see.  Sunny King is no dummy and the group working on nubits has been basically doing most of it in the dark of night.  We honestly have no way to know what is coming (thus, BM's "buy the rumor sell the news"). 

As far as CoinoUSD: it is a sad, sad attempt at trying to compete with a project that has proven it cares more about innovation than simply making bank off of a crypto-fad.  NXT has been consistently losing my respect the more I read about their "assets" and the lack of accountability for rip offs. 

BitShares and bitUSD are so much more than most people can even comprehend at this juncture.  The implications are really going to be something spectacular.

[fuzzy]

We will make the trading bot open source at the same time we release full project details to the public so there won't be any mystery about how it functions.
- Jordan Lee

Sounds similar to something Dan has recently talked about in one of the hangouts.

It's been known for a while that bots can automate the process of maintaining pegs. Dan in his original whitepaper had automation as a core axiom. I don't know why more focus isn't on automation but I suppose there are more fundamental concerns.

Do you mean to say that Bitshares is planning on possibly implementing a bot to maintain the peg as well? That could be seen as trying to copy Nubits' technique at this point in the game...

Not what I'm saying actually.  Sorry for the late response...been a busy day.  I meant only to point out that this manner of reinforcing the peg is being used for the nubits project too. 

We have a new group of people who have washed up onto the forums who are consistently talking about the market peg being basically a shot in the dark that is bound to miss.  This is simply to show that there is a growing consensus that this is a means of helping sustain the peg. 

[CoinHoarder]

All trading bots carry risk on the operator.  Bots can only automate processes people can do by hand.

The economic incentive needs to be sound.   If you rely on bots to perform then it is fundamentally broken. 

If a low net worth individual is unable to use the same strategy then it is broken. 

With nubits, buy the rumor sell the news

I agree. It seems BitSharesX remains the superior solution compares to Nubits, and Nxt Dex/CoinoUsd. Peer coin got pumped x2 its value on this news... I bet it gets dumped right back to where it was a few days ago.

[bytemaster]

All trading bots carry risk on the operator.  Bots can only automate processes people can do by hand.

The economic incentive needs to be sound.   If you rely on bots to perform then it is fundamentally broken. 

If a low net worth individual is unable to use the same strategy then it is broken. 

With nubits, buy the rumor sell the news

[yellowecho]

"To bot or not to bot.. that is the question"

Why not just add an in-client toggle that turns on the trading bot?  Descriptions and prompts could alert the user of the additional risks using it.

[sschechter]

were you expecting traders to maintain the peg by hand? lol..

+5% +5%

[toast]

were you expecting traders to maintain the peg by hand? lol..