Nubits revisited

[CoinHoarder]

It still shows that people need to provide the buy orders while in bitshares the protocol can deal with settlement (as a last resort)

I can admit that is true. However, so far Nushares has been able to provide sufficient incentive for people to have those buy and sell orders in place to hold the peg. It is unclear whether or not incentive can be maintained for a prolonged period of time (although it has worked quite well for over a year).

In my design I am proposing for Bitshares, it does away with the small army of people it takes to provide liquidity. It is almost purely autonomous, meanwhile Nubits' liquidity operations require a lot of "man power". My design would never succumb to the issue that post refers to since it is done autonomously.

Furthermore, my design is not meant to be a permanent solution like Nubits' solution is... it works like training wheels do on a bicycle. As soon as "natural liquidity" is established on the DEX, the autonomous liquidity operations cease and the BTS/SmartCoins that were used to provide it are burned.

I am about to post a more detailed synopsis that I have been working on all morning.

EDIT: https://bitsharestalk.org/index.php/topic,21197.msg276084.html#msg276084
or https://www.docdroid.net/2OcoImM/autonomous-smartcoin-liquidity-funded-by-dilution.pdf.html

[xeroc]

FYI:
https://www.reddit.com/r/NuBits/comments/42wj58/urgent_according_to_alix_the_alp_sell_side_at/

I guess you didn't take the time to read the link you posted... in particular the part where it explained that it was not a big deal?

If you had looked at the liquidity broadcast of the NuBots (which I just now did), you had found out, that the situation isn't dire.

It still shows that people need to provide the buy orders while in bitshares the protocol can deal with settlement (as a last resort)

[CoinHoarder]

FYI:
https://www.reddit.com/r/NuBits/comments/42wj58/urgent_according_to_alix_the_alp_sell_side_at/

I guess you didn't take the time to read the link you posted... in particular the part where it explained that it was not a big deal?

If you had looked at the liquidity broadcast of the NuBots (which I just now did), you had found out, that the situation isn't dire.

[Akado]

[xeroc]

FYI:
https://www.reddit.com/r/NuBits/comments/42wj58/urgent_according_to_alix_the_alp_sell_side_at/

[Zapply]

have one idea to create a stable currency. create a X coin or UIA 50% that is volume of bitshares have the same price and is lock in the blockchain. The x coin have the same relationship like Singapore and Brunei. Example someone want to create stable USD currency. Now the Settlement price of BTS to USD is 300 BTS that person use 300BTS can create stable USD currency the x coin automatically top up the difference the BTS price the person use to create stable USD currency is show in his wallet

[Pheonike]

People don't mine that risk if they can get in/out fast. That's part of game. But if the risk of getting stuck is higher than the reward, nobody wants to play that game.

[Empirical1.2]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?

Why not simply open up a market for nubits to compete side by side against bitUSD?

CCEDK already has Nubits so for them it's will be very easy to open market OPENNBT:USD
https://www.ccedk.com/nbt-usd
@ccedk

have already asked to have it added, and waiting to hear what and when it i possible

 

I think they might have made some changes since then.

Not to the core of their genius model. But what do I know, new kids are eager to drink from that fountain of wisdom... like MKR.

From what I understand, Nubits will likely fail, but for the last year, it seems the markets value the liquidity they provide over that risk. 

[openledger]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?

Why not simply open up a market for nubits to compete side by side against bitUSD?

CCEDK already has Nubits so for them it's will be very easy to open market OPENNBT:USD
https://www.ccedk.com/nbt-usd
@ccedk

have already asked to have it added, and waiting to hear what and when it i possible

[testz]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?

Why not simply open up a market for nubits to compete side by side against bitUSD?

CCEDK already has Nubits so for them it's will be very easy to open market OPENNBT:USD
https://www.ccedk.com/nbt-usd
@ccedk

[tonyk]

I think they might have made some changes since then.

Not to the core of their genius model. But what do I know, new kids are eager to drink from that fountain of wisdom... like MKR.

[Empirical1.2]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?

Why not simply open up a market for nubits to compete side by side against bitUSD?

Yeah possibly.

Is Nubits model what governments use to enforce their own monetary peggs?

Not sure. Bytemaster did a blog post/review of NuBits a while back that was pretty informative. I think they might have made some changes since then.

[monsterer]

Is Nubits model what governments use to enforce their own monetary peggs?

[fuzzy]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?

Why not simply open up a market for nubits to compete side by side against bitUSD?

[Empirical1.2]

I was not a fan of bringing the Nubits style model to BitShares because when it invariably fails it will look very bad for BitShares.

However they still seem to be surviving. So far this month they've done circa $1.5 million in volume. That's a lot of liquidity that could help bootstrap the exchange and potentially a lot of fees.

Is there any merit to looking at the NuBits model and introducing some variation with a really big warning attached?