NuBits

[svk]

An awesome part of their system is the Custodian Proposals, where anyone can propose doing things to support the network and get funding in the form of Nubits. Examples include building an Android wallet for Peercoin, providing liquidity to markets and more. Basically you can propose anything, and if the shareholders like your proposal and trust you they can create Nubits to fund you.

Definitely beats begging for donations or building stuff for free.

This is nothing  more than Delegates with inflation and variable pay voted on by the shareholders...

I agree that it resembles the delegate system, but it differs in how it can be very specifically targeted, and doesn't require the Custodian to run and maintain a VPS. The main advantage in my opinion is how it can free up a lot of funds for a given project immediately, as opposed to the steady income provided to delegates. You could also provide payment for delivery of development milestones for example.

On the other hand it's also open to abuse, imagine a Custodian being granted Nubits for a project, then just running off with the money. Might happen and from the discussions in the forums they seem to almost count on it happening, but since the damage is limited to the size of the custodian fund it's not considered very dangerous.

[kokojie]

From my quick reading it seems there is no economic incentive to hold Peercoin. Is that correct?

I wondered if Peercoin would be the equivalent of BitsharesX, but clearly its not.

Peercoin holders receive dividend payments from the profits of the system.  NuShares is where all of the capital appreciation will happen.

And this will happen because....? What their ability to decide when to print dollars(NuBits)? I do not buy this...

It's exactly that, they are printing USD out of thin air, how can they not profit from this? The Dev (Jordan Lee) already set out the distribution plan, the entire NuShares stake will be distributed for $4.5M, and it's a private sale, you have to message him to set up the deal to buy some shares.

[tonyk]

From my quick reading it seems there is no economic incentive to hold Peercoin. Is that correct?

I wondered if Peercoin would be the equivalent of BitsharesX, but clearly its not.

Peercoin holders receive dividend payments from the profits of the system.  NuShares is where all of the capital appreciation will happen.

And this will happen because....? What their ability to decide when to print dollars(NuBits)? I do not buy this...

[sschechter]

From my quick reading it seems there is no economic incentive to hold Peercoin. Is that correct?

I wondered if Peercoin would be the equivalent of BitsharesX, but clearly its not.

I've read the whole whitepaper.
It's a joke.
I'm glad sunny king wasn't part of it .
The whole idea is : issue a worthless note,use shareholder's fund to buy in (via trading bot on exchange API) to maintain the price (and generate more notes if the price goes too high).Basically,you have to trust some "shareholders of nubits" would buy back the 1USD note at 1USD at all time ------mean while,the fund is in the shareholder's exchange account the whole time ,so the network can't really in full control of the fund to maintain the price if the shareholder decided not to buy the note back,they can simply just turn off the robot.

And the only reason we can remotely hope the shareholder to buy back the note,is because they enjoy the profit in this game.(buy low,sell high),so they want to go on with it .

and written in secret by an anonymous developer....

[bytemaster]

An awesome part of their system is the Custodian Proposals, where anyone can propose doing things to support the network and get funding in the form of Nubits. Examples include building an Android wallet for Peercoin, providing liquidity to markets and more. Basically you can propose anything, and if the shareholders like your proposal and trust you they can create Nubits to fund you.

Definitely beats begging for donations or building stuff for free.

This is nothing  more than Delegates with inflation and variable pay voted on by the shareholders...

[roadscape]

>And other than NuBits, what do you think is the most interesting development in the world of cryptocurrency right now?
>>Technologies to support equity based assets such Counterparty, NXT Asset Exchange and Peershares.
Interview with NuBits head developer

Mentioning NXT without BTSX?  : P

[bytemaster]

From my quick reading it seems there is no economic incentive to hold Peercoin. Is that correct?

I wondered if Peercoin would be the equivalent of BitsharesX, but clearly its not.

Peercoin holders receive dividend payments from the profits of the system.  NuShares is where all of the capital appreciation will happen.

[sumantso]

From my quick reading it seems there is no economic incentive to hold Peercoin. Is that correct?

I wondered if Peercoin would be the equivalent of BitsharesX, but clearly its not.

[oco101]

An awesome part of their system is the Custodian Proposals, where anyone can propose doing things to support the network and get funding in the form of Nubits. Examples include building an Android wallet for Peercoin, providing liquidity to markets and more. Basically you can propose anything, and if the shareholders like your proposal and trust you they can create Nubits to fund you.

Definitely beats begging for donations or building stuff for free.

[svk]

An awesome part of their system is the Custodian Proposals, where anyone can propose doing things to support the network and get funding in the form of Nubits. Examples include building an Android wallet for Peercoin, providing liquidity to markets and more. Basically you can propose anything, and if the shareholders like your proposal and trust you they can create Nubits to fund you.

Definitely beats begging for donations or building stuff for free.

[smiley35]

biophil: thats nubits not nushares

svk: Any info on when? It seems they are selling
(their version of) bitusd but withholding btsx for the moment.

smiley: explain? They're selling NuShares (NSR) for NuBits (NBT). NuBit is pegged to USD, so they're selling NuShares for USD. What am I missing?

I was just saying that the link to the market was for nubits

I did not realize that you had to go through nubits and bit message and be screened to get nushares until oco101 pointed it out. Thanks for the info everyone.

Hope any speculators sold on the news.... I stayed completely out of all of this.

[biophil]

biophil: thats nubits not nushares

svk: Any info on when? It seems they are selling
(their version of) bitusd but withholding btsx for the moment.

smiley: explain? They're selling NuShares (NSR) for NuBits (NBT). NuBit is pegged to USD, so they're selling NuShares for USD. What am I missing?

[oco101]

Here's the down low on distribution of NuShares:

http://discuss.nubits.com/t/undistributed-nushares/125

By Jordan Lee:

Though many of you are already aware of everything I will say here, it should be said here for those who are not yet aware and those who will read it in the future.

The following rules regarding the use and sale of undistributed NuShares will be followed:

Though undistributed NuShares minted blocks to bootstrap the network, they will never again be used for minting or voting.
Dividends will be paid to undistributed NuShares just like other NuShares. These Peercoins will be used for development similar to the proceeds of NuShare sales.
The first 700 million undistributed NuShares will be sold for a total of not more than 1.5 million NBT. This includes seed funding received last January.
The last 300 million undistributed NuShares (plus a small amount that were minted during network bootstrapping) will be sold for a total of not more than 5 million NBT

For now an unknown amount of the first 700million NuShares have been distributed to seed funders (and developers I guess?), and the shares will be sold in lots of 5 million.

Undistributed NuShares will be sold in lots typically 5 million in size to people who have demonstrated skills that will be helpful to the advancement of the network. We are in a sense
picking business partners. People will need to contact us via Bitmessage
at BM-2cX8PF84t2uhvtWE9E387V2f5Fz5iF8uUj to be screened. 5 million
NuShares are presently 9,000 NuBits, or 0.0018 NBT per NuShare.

[smiley35]

biophil: thats nubits not nushares

svk: Any info on when? It seems they are selling
(their version of) bitusd but withholding btsx for the moment.

[biophil]

Here's the down low on distribution of NuShares:

http://discuss.nubits.com/t/undistributed-nushares/125

By Jordan Lee:

Though many of you are already aware of everything I will say here, it should be said here for those who are not yet aware and those who will read it in the future.

The following rules regarding the use and sale of undistributed NuShares will be followed:

Though undistributed NuShares minted blocks to bootstrap the network, they will never again be used for minting or voting.
Dividends will be paid to undistributed NuShares just like other NuShares. These Peercoins will be used for development similar to the proceeds of NuShare sales.
The first 700 million undistributed NuShares will be sold for a total of not more than 1.5 million NBT. This includes seed funding received last January.
The last 300 million undistributed NuShares (plus a small amount that were minted during network bootstrapping) will be sold for a total of not more than 5 million NBT

For now an unknown amount of the first 700million NuShares have been distributed to seed funders (and developers I guess?), and the shares will be sold in lots of 5 million.

At an average price no more than 1.67 US cents per NuShare.