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rai·son d'ê·treˌrāzôn ˈdetrə/nounthe most important reason or purpose for someone or something's existence."an institution whose raison d'être is public service broadcasting"
Quote from: Markus on October 09, 2014, 12:18:20 pmFrom the Nubits Whitepaper:QuoteWhen this occurs, NuBit demand will decline permanently. The end of the currency will be marked by interest rates rising to unprecedented highs and then going still higher until the vast majority of NuBits are parked. When market participants reach a unanimous consensus that NuBits are worthless, then they will suddenly drop to zero value from one USD. As long as a small group of speculators believe there is even a small chance NuBit demand will reach a new all time high the price will remain one USD. As the currency shows signs of stress and serious decline in levels of use NuBits will pass from ordinary businesses and people to speculators willing to take large risks for large rewards. Ownership of NuBits will centralize somewhat as the currency shows signs of stress. Failure of the currency is not synonymous with failure of the network. If there are other currencies offered by Nu, they will continue to be unaffected.In the space between now and obsolescence, there is much that Nu can do to benefit shareholders and its users.It seems to me they know fairly well how the story will end. I guess it all boils down to arguing about when that will happen.Oh wow, yeah, they basically just spelled it all out right there in the white paper.Alright then.We just have to beat them with better technology and marketing.
From the Nubits Whitepaper:QuoteWhen this occurs, NuBit demand will decline permanently. The end of the currency will be marked by interest rates rising to unprecedented highs and then going still higher until the vast majority of NuBits are parked. When market participants reach a unanimous consensus that NuBits are worthless, then they will suddenly drop to zero value from one USD. As long as a small group of speculators believe there is even a small chance NuBit demand will reach a new all time high the price will remain one USD. As the currency shows signs of stress and serious decline in levels of use NuBits will pass from ordinary businesses and people to speculators willing to take large risks for large rewards. Ownership of NuBits will centralize somewhat as the currency shows signs of stress. Failure of the currency is not synonymous with failure of the network. If there are other currencies offered by Nu, they will continue to be unaffected.In the space between now and obsolescence, there is much that Nu can do to benefit shareholders and its users.It seems to me they know fairly well how the story will end. I guess it all boils down to arguing about when that will happen.
When this occurs, NuBit demand will decline permanently. The end of the currency will be marked by interest rates rising to unprecedented highs and then going still higher until the vast majority of NuBits are parked. When market participants reach a unanimous consensus that NuBits are worthless, then they will suddenly drop to zero value from one USD. As long as a small group of speculators believe there is even a small chance NuBit demand will reach a new all time high the price will remain one USD. As the currency shows signs of stress and serious decline in levels of use NuBits will pass from ordinary businesses and people to speculators willing to take large risks for large rewards. Ownership of NuBits will centralize somewhat as the currency shows signs of stress. Failure of the currency is not synonymous with failure of the network. If there are other currencies offered by Nu, they will continue to be unaffected.In the space between now and obsolescence, there is much that Nu can do to benefit shareholders and its users.
YOU need to market better, DAN needs to code. And create. I think youreversed the roles of this movie for a moment. I'm sorry, but we are not onthe marquee. What do you think Dan has been doing all week? He just kickedass, and blasted out a new genius marketing idea, and all you can say is“conform your creative mind to mine and get back to work (for me memeeeeeeeeee) Dan”
If Dan screws up, fork it!
Quote from: Shentist on October 08, 2014, 10:13:48 pmmarket cap 2m and the trading volume in 24h is 1m.I would bet that there are a lot more than 2M NuBits by now, so the market cap should be higher.But coinmarketcap is pretty slow at updating share counts.
market cap 2m and the trading volume in 24h is 1m.
Quote from: Shentist on October 08, 2014, 10:13:48 pmi don't buy it!market cap 2m and the trading volume in 24h is 1m.no one is using them. i assume only tradingbots shuffle some Nubits around. when they have utilitiy for us, i will be impressed. I came to the same conclusion.
i don't buy it!market cap 2m and the trading volume in 24h is 1m.no one is using them. i assume only tradingbots shuffle some Nubits around. when they have utilitiy for us, i will be impressed.
Quote from: Ander on October 08, 2014, 09:02:06 pmQuote from: CLains on October 08, 2014, 08:48:30 pmThe proposal, the joke and the criticisms hide the simple truth at the core of this issue: That this is an arms race with survival at stake, and that our weapons of war are inflation, interest rates, etc.Yes. And at present, here is what an outsider with no skin in the game is seeing: Nubits is crushing bitUSD in terms of use (volume, market cap). Bitshares supporters just sit on their forum and laugh at NuBits and call it a ponzi and make jokes.Harsh...but unfortunately very true.
Quote from: CLains on October 08, 2014, 08:48:30 pmThe proposal, the joke and the criticisms hide the simple truth at the core of this issue: That this is an arms race with survival at stake, and that our weapons of war are inflation, interest rates, etc.Yes. And at present, here is what an outsider with no skin in the game is seeing: Nubits is crushing bitUSD in terms of use (volume, market cap). Bitshares supporters just sit on their forum and laugh at NuBits and call it a ponzi and make jokes.
The proposal, the joke and the criticisms hide the simple truth at the core of this issue: That this is an arms race with survival at stake, and that our weapons of war are inflation, interest rates, etc.
this summer
We will follow you...but not blindly bytemaster!
Yeah, I think its time to cool it with the nubits bashing, it looks unprofessional.
Without going into what a terrible idea it would be and also being uncertain how much of the original post was a joke...As far as NuBits is concerned.1. $2 million of their $2.24 million valuation isn't actual demand they started with that amount, so their valuation is a bit misleading. 2. Why do they get a listing on CMC on the main page? We really should get BitUSD on the main CMC page. 3. A couple of other things need to be in place too perhaps (more stable client & decentralised voting) but as soon as this is implemented https://bitsharestalk.org/index.php?topic=9520.msg124582#msg124582 it will be very interesting to see how much interest BitUSD can bring to bear in a fully backed, decentralised system, and whether a ponzi NuBits can compete.(Very important to be on CMC main page if they are though - According to Alexa.com, BitShares-X.info gets it's most upstream visitors from CMC by far >30%.The asset page though is viewed MUCH less. So we put ourselves at a big advertising disadvantage if not on the main CMC page and other pegged assets are.)
I think this is a bad idea...We should try to stay as far away from the word "Ponzi" as possible. I think this could easily be spun in a way to make it seem like bitshares is the ponzi scheme or it supports ponzi schemes or something like that.
I think BM is experiencing feelings similar to those of the Napster guys when they broke the 1mil/server barrier. (or was it 10Mil?, anyway the number does not matter, the fact that does is that this helps him see other facts of life from other, funnier, perspective.)I am dancing with you, btw...“And those who were seen dancing were thought to be insane by those who could not hear the music.” - Friedrich Nietzsche
Quote from: Ander on October 02, 2014, 08:08:18 pmQuote from: liondani on October 02, 2014, 06:58:30 pmQuote from: Empirical1.1 on October 02, 2014, 06:04:35 pmWe really should get BitUSD on the main CMC page. Hmm, Nubits is on the main page and bitUSD on assets. What determines which tab the coin is put under?Whether the asset has its own blockchain or is a sub-asset of another chain.
Quote from: liondani on October 02, 2014, 06:58:30 pmQuote from: Empirical1.1 on October 02, 2014, 06:04:35 pmWe really should get BitUSD on the main CMC page. Hmm, Nubits is on the main page and bitUSD on assets. What determines which tab the coin is put under?
Quote from: Empirical1.1 on October 02, 2014, 06:04:35 pmWe really should get BitUSD on the main CMC page.
We really should get BitUSD on the main CMC page.
that is the definition of "levelling" ... for poker players...You are really playing you A-game
Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only... clearly not a solid business plan given the nature of the world we live in.
Quote from: feedthemcake on October 02, 2014, 05:34:00 pmQuote from: tbkmcjl on October 02, 2014, 05:30:17 pm No one seems to realize this is BM's joke .......Just to make fun of Nubits. ..I think.Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only... clearly not a solid business plan given the nature of the world we live in.
Quote from: tbkmcjl on October 02, 2014, 05:30:17 pm No one seems to realize this is BM's joke .......Just to make fun of Nubits. ..I think.
No one seems to realize this is BM's joke .......Just to make fun of Nubits.
You just need to market BitUSD better than NuBits. Focus your energy on that.