nuBits: 9$ - nice peg

[edilliam]

It's returned to normal now. But, here's another screenshot:

[Mtinie]

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.

[svk]

I guess NuShares is up 300% because someone didn't realize NuBits is supposed to be at 1$ and thought it was a good thing that it's now trading at 9-10$? lol

[yellowecho]

Seems the bot has lost one digit and was buying nubits until it reach 10x the original price 
So probably one custodian is now out of the game 


edit: I just saw your above message 

It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

so a good tactic is to have open sell orders about 8 times the dollars price... it will happen again for sure 
(and maybe open buy orders at  8 times lower price)

If the bot overpaid for NuBits by 8x it's real price in BTC, doesn't that mean NuShares has opened itself up to a huge risk of insolvency since it's used as collateral?

[liondani]

Seems the bot has lost one digit and was buying nubits until it reach 10x the original price 
So probably one custodian is now out of the game 


edit: I just saw your above message 

It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

so a good tactic is to have open sell orders about 8 times the dollars price... it will happen again for sure 
(and maybe open buy orders at  8 times lower price)

[liondani]

Seems the bot has lost one digit and was buying nubits until it reach 10x the original price 
So probably one custodian is now out of the game 


edit: I just saw your above message 

It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

[yellowecho]

LOL It looks like a bot went rogue or something.  Is there a way to short this???

buy on BTER then move to CCEDK... and sell 

No more buyers at that price 
It looks like someone screwed up a decimal place on the BTC price and the bot went bonkers lol

[liondani]

LOL It looks like a bot went rogue or something.  Is there a way to short this???

buy on BTER then move to CCEDK... and sell 

[liondani]

I am wondering what they are doing ! (?)

[yellowecho]

LOL It looks like a bot went rogue or something.  Is there a way to short this???

[Kenof]

this is very strange,
nubits usually have better peg then bitusd, but when their peg fail it is catastrophic failure

this is huge plus for us   

[xeroc]

not CMC's fault: