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General Discussion / Re: Pegged Cryptocurrencies for Remittances
« on: January 29, 2017, 06:40:26 pm »
Welcome!
I'm surprised you mention Nubits since I thought it died when the peg failed, is it still operational?
The main problem we've had with smart coins is as you mention liquidity. It's a chicken and egg problem where we need liquidity to attract traders, and traders to create liquidity. Last I checked the supply of BitUSD was only around 100k, and with BTS in a long downtrend it's a hard sell for shorters to take the risk of creating more, and without liquidity its even riskier since you may not be able to close your positions.
There's some initiatives at the moment to incentivize smart coin creation so maybe that will help, but it's hard to say for sure.
I'm surprised you mention Nubits since I thought it died when the peg failed, is it still operational?
The main problem we've had with smart coins is as you mention liquidity. It's a chicken and egg problem where we need liquidity to attract traders, and traders to create liquidity. Last I checked the supply of BitUSD was only around 100k, and with BTS in a long downtrend it's a hard sell for shorters to take the risk of creating more, and without liquidity its even riskier since you may not be able to close your positions.
There's some initiatives at the moment to incentivize smart coin creation so maybe that will help, but it's hard to say for sure.