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Stakeholder Proposals / Re: Delegate Presentation base framework
« on: May 21, 2015, 04:32:13 pm »
No worries, thank you very much for the update and for unpinning the topic.
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Stakeholder Proposals / Re: Delegate Presentation base framework
« on: May 20, 2015, 03:39:19 pm »Hi all,
im considering provide a Delegate presentation theme the next weeks. Feel free to use and adapt it.
I'll try to get a qualitiy design standard on all delegate campaigns to get a better network effect.
Also i'll use it for my future delegate campaign...
What do you think about my thoughts. Would this make sense in your opinion!ß
Let me know your thoughts about.
@Cass, did you ever release your delegate presentation theme? Was the intent for the theme to be a set of base questions / sections that a prospective delegate should include to best appeal to Bitshareholders when seeking their votes?
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General Discussion / Re: nuBits: 9$ - nice peg
« on: February 06, 2015, 05:04:40 pm »It's returned to normal now. But, here's another screenshot:
If you look again you'll see that everything is normalized. I don't have an answer for why CMC showed that other than the outlier orders from CCEDK's market somehow affected CMC's global calculation for NBT's average price.
Edit: Actually, I do. All of the markets you highlighted in the screen capture use NBT as the base currency.
If CCEDK's NBT/BTC price (which was the dominant market during the timeframe) was showing ~$10, then CMC would use that price to set the new baseline prices for all of the NBT denominated markets.
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General Discussion / Re: nuBits: 9$ - nice peg
« on: February 06, 2015, 04:50:33 pm »
NuBot wasn't involved on either side of these outlier trades. Someone had a manual order placed at at 10x the going rate (most likely to sucker someone into buying it who wasn't paying attention) and another trader erroneously bought those NBT during a wall shift.
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General Discussion / Re: NuBits
« on: October 17, 2014, 08:19:30 pm »
A major reason that Peershares (announced in late September 2013) was developed was because it was a stepping stone to Nu. When I joined the team back in February of this year, Nu was already under development. The NuBits annoucement wasn't made until we were close enough to a completed protocol that we were able to begin major network testing.
Daniel Larimer certainly qualifies as a forward-thinker but the idea of a stable cryptoasset token and tying the price point to a fiat currency isn't a novel idea.
Edit: typo
Daniel Larimer certainly qualifies as a forward-thinker but the idea of a stable cryptoasset token and tying the price point to a fiat currency isn't a novel idea.
Edit: typo
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General Discussion / Re: How to measure the PEG....
« on: October 17, 2014, 03:14:20 pm »
I'm not sure where you get your information, but the way that you've worded your comment makes me doubt your sources.
It's true that the automated trading bots do support NBT-to-coin markets (NBT/BTC, NBT/PPC). The exchange rates fluctate very frequently in response to changes in the BTC/USD and PPC/USD markets. As is the case on most exchanges (with a few notable exceptions) crypto/fiat pair buy-side liquidity is for all intents and purposes, abysmal. Providing access to a stable value unit is our end-goal, so while it's more complex, supporting NBT/crypto markets is part of that strategy. Attempting to maintain the 1 NBT to 1 USD (in crypto equivielent) is a side effect of the primary goal of NuBits, providing a stable, transactional currency.
I've never heard anyone on the team--seriously, or even in jest--discuss market making to end up as a (or the) "PPC whale." We've got enough things to keep us busy post-release, and attempting to wrest some form of control over the peercoin markets isn't on the list.
The trading logic that was responsible for NuBot's wall collisions was resolved a week ago (discuss.nubits.com/t/nubot-progress-reports/338/7), and as far as we can tell, all volume since then has been organic. We've noticed a few traders (at least two, possibly three or more) attempting to profit from price fluctations, but that's outside of our control and is something that is going to happen. These types of trades happen all over the place, in every market, so the NBT/BTC and NBT/PPC markets are no exception. I expect that a portion of the day-to-day BitsharesX volume is generated from the same types of trades.
If exchanges want to list NBT, it is their perogative. Having a large number of exchanges support NBT, today, doesn't actually benefit us much. It takes time to write wrappers for the automated trading bot so that it can work with different exchanges' APIs, and then it means having a custodian get set up to support one or more markets there. Besides, having a coin on an exchange is only the first step -- there are lots of exchanges that host lots of coins' trading pairs that aren't going to amount to anything without a focus on the fundamentals that make it an attractive transactional currency or asset.
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While I'll admit that I do find a dark humor in the rumor mongering I read, the comments of yours that I've come across more often than not lack any evidence to support your criticisms. I guess that's your right, and I'm not here to try to "convert" you to any viewpoint, but I personally find it hard to take your critiques seriously when they lack substance or appear to be only driven by blind emotion.
I'm more than happy to have future discussions about BitsharesX, Nu, or cryptoassets in general, if they are useful to the larger community. My responses here may be reactive, in the context of this or another Nu-related threads, but ultimately I'm not here to shill for Nu. Hopefully my postings over time will make that clear. I'm equally interested in what the Bitshares team and community are doing because I see a huge number of interesting initiatives and opportunities.
Bytemaster，I've heard that Nubits is try to enforce the NBT-PPC pair,use PPC to build buy wall and yet still maintain 1NBT=1USD value.
It's true that the automated trading bots do support NBT-to-coin markets (NBT/BTC, NBT/PPC). The exchange rates fluctate very frequently in response to changes in the BTC/USD and PPC/USD markets. As is the case on most exchanges (with a few notable exceptions) crypto/fiat pair buy-side liquidity is for all intents and purposes, abysmal. Providing access to a stable value unit is our end-goal, so while it's more complex, supporting NBT/crypto markets is part of that strategy. Attempting to maintain the 1 NBT to 1 USD (in crypto equivielent) is a side effect of the primary goal of NuBits, providing a stable, transactional currency.
And I've heard they are trying to be the PPC whale themselves,print more NBT to buy more PPC,so they can control the price of PPC and make a profit for the Nubits system.During this process,they'll make the trading volume of NBT larger to attract new exchanges to enlist.
(Because of the relations between Nubits and PPC,convince people trade PPC for Nubits would be easy)
I've never heard anyone on the team--seriously, or even in jest--discuss market making to end up as a (or the) "PPC whale." We've got enough things to keep us busy post-release, and attempting to wrest some form of control over the peercoin markets isn't on the list.
The trading logic that was responsible for NuBot's wall collisions was resolved a week ago (discuss.nubits.com/t/nubot-progress-reports/338/7), and as far as we can tell, all volume since then has been organic. We've noticed a few traders (at least two, possibly three or more) attempting to profit from price fluctations, but that's outside of our control and is something that is going to happen. These types of trades happen all over the place, in every market, so the NBT/BTC and NBT/PPC markets are no exception. I expect that a portion of the day-to-day BitsharesX volume is generated from the same types of trades.
If exchanges want to list NBT, it is their perogative. Having a large number of exchanges support NBT, today, doesn't actually benefit us much. It takes time to write wrappers for the automated trading bot so that it can work with different exchanges' APIs, and then it means having a custodian get set up to support one or more markets there. Besides, having a coin on an exchange is only the first step -- there are lots of exchanges that host lots of coins' trading pairs that aren't going to amount to anything without a focus on the fundamentals that make it an attractive transactional currency or asset.
---
While I'll admit that I do find a dark humor in the rumor mongering I read, the comments of yours that I've come across more often than not lack any evidence to support your criticisms. I guess that's your right, and I'm not here to try to "convert" you to any viewpoint, but I personally find it hard to take your critiques seriously when they lack substance or appear to be only driven by blind emotion.
I'm more than happy to have future discussions about BitsharesX, Nu, or cryptoassets in general, if they are useful to the larger community. My responses here may be reactive, in the context of this or another Nu-related threads, but ultimately I'm not here to shill for Nu. Hopefully my postings over time will make that clear. I'm equally interested in what the Bitshares team and community are doing because I see a huge number of interesting initiatives and opportunities.
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General Discussion / Re: How to measure the PEG....
« on: October 16, 2014, 08:01:38 pm »Assuming you're one of the Custodians,would you consider withdrawing the buy wall after selling some Nubits a crime or fraud ?
Because I haven't seen the nature of this kind of behavior described in the Whitepaper.
Persumably it would be fraud, if those actions were not in line with the proposal that the shareholders agreed to in exchange for granting the NuBits that were sold to supply the buy wall. In the classical legal defintion fraud is both a civil wrong (the perpetrator can be sued) and a criminal wrong (possible prosecution and imprisonment).
So, to answer your question, I would expect that "both" is appropriate.
Edit: To address your restatement of the original question --
Quote
OK,let me put it this way.
If you and your pals(including shareholders that you've carefully selected and the custodians) sold enough Nubits to the public and never put the buy wall back,Would you consider it a crime or fraud or just "a fail experiment of Hayek's theory of Denationalization of Money"?
I'm not talking about "how impossible" or "you don't have any sane reason to do that",just saying what's your view on this behavior if god forbid something like that happens ?
If this were to happen, it would fall into the same class of actions that any asset is exposed to when there is no longer buy-side support at the previous price. Basically, when the price of a stock, precious metal, or cryptocurrency drops, it's because there is no longer money willing to be put towards its repurchase at the previous price. Lots of real funds are removed from stock, commodities, and crypto markets every day and in many cases people are no longer able to get back the same amount that they paid for something.
Is it fraud if you buy one share of AAPL at $96.25 right now, but tomorrow you're only able to get $87.50 for the same share? Or that the "Bearwhale" sold a large quantity of BTC the other day for substantially below market, temporarily cratering the traded price?
You're asking if it is possible that it could occur -- of course it's possible, to say otherwise would be impossible to support. Like any asset, it takes trust to give it lasting value, and an action like that would not be in anyone's best interests (shareholders, consumers, etc.). Nu is not unique in this, and while "trustless" is one of the major mantras of the cryptocurrency movement, it is referring to the protocol layer, not the community that develops around it. For an asset to be valuable, it needs both to be in concert.
For example, BitsharesX has value because of the protocol and framework that has been built *plus* the trust that people put in the developers and the community that has sprung up around it. But if people lose trust in the system, for various reasons, the value will approach zero as well.
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General Discussion / Re: NuBits
« on: October 07, 2014, 12:49:25 pm »Quote
Can someone explain to me though why they have such high volume, ($1 million 24 hours) but the CAP of Nubits is staying the same, this week, circa $2.3 million? I don't understand.
NuBits market capitalization isn't changing, because the supply of NBT hasn't measurably changed and the price per NBT hasn't fluctuated much. CMC reports market cap as:
* Marketcap = Price x Total Supply
* Prices are calculated by averaging the prices at the major exchanges weighted by volume
Source: bitcointalk.org/index.php?topic=199685.0
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General Discussion / Re: NuBits
« on: October 06, 2014, 03:52:30 pm »Its not fake volume. Its probably done by bots but the trades are real and bter is getting .2% of them. Looks like bter has got a couple thousand dollars worth of nubits this morning. Good for them, help them recover from that NXT hack.
This is the kind of volume we want to see in bitUSD. Right now Nubits is being used far more than us.
sorry, but trading via bots is not used!
the only use at the moment is to buy Nushares.
I'm not quite sure what you mean by this. Exchange bots are most certainly used to maintain the peg.
Tightly coupled walls, occasionally laggy APIs (or connections to those APIs), and rapidly shifting BTC/USD exchange rates don't always play nice together. We've got a patch being tested now that should significantly reduce the chances that it happens. Even today it's very uncommon, occuring in less than 0.5% of wall shifts -- but as it was pointed out in a prior comment, it's costly because it leads to conversations like this one and fees being paid to exchanges for trades that didn't need to happen.
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General Discussion / Re: Angry: someone say that the bitshares wallet copied PPC's Nubits program.
« on: September 17, 2014, 03:01:34 am »
Hi, Edilliam. As of the 23rd of September, I'll be happy to discuss the NuBits implementation, but until that release date I cannot go into details. I apologize for being evasive, but I'm bound by my commitment to the team that the coordinated release message will be the first it is discussed publicly.
I can reiterate what Jordan Lee has already stated: that NuBits and Bitshares use completely different designs and it's virtually impossible that some random person on a forum could have come to the conclusion that Bitshares and NuBits had anything visually similar in their wallet designs (other than the standard elements required to meet the needs of our industry).
Also, from experience, it's very, very difficult to strap a gyroscope to a cryptoasset -- I applaud anyone who is able to get it to work!
I can reiterate what Jordan Lee has already stated: that NuBits and Bitshares use completely different designs and it's virtually impossible that some random person on a forum could have come to the conclusion that Bitshares and NuBits had anything visually similar in their wallet designs (other than the standard elements required to meet the needs of our industry).
Also, from experience, it's very, very difficult to strap a gyroscope to a cryptoasset -- I applaud anyone who is able to get it to work!
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General Discussion / Re: Angry: someone say that the bitshares wallet copied PPC's Nubits program.
« on: September 17, 2014, 01:19:10 am »
As someone involved in the NuBits project, I'd like to know who has been making that statement. If it was in a post on a message board or Reddit, could you please point me to it so I can make sure that it is properly addressed?
Thank you in advance.
Thank you in advance.
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