NuBits

[svk]

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.

[biophil]

Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0

Our official forum is discuss.nubits.com

There wasn't much to talk about since we've been almost totally silent about the project until today. We know there's a lot of talented and educated individuals involved with BitShares. If you all would like to discuss NuBits with the dev team stop by our forum.

We have a busy day of getting everything sorted out. see ya!

cg

Can you address sfgfd's post?
http://www.reddit.com/r/NuBits/comments/2h8bdk/where_to_buy/

Here:
https://www.ccedk.com/nbt-btc

[smiley35]

Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0

Our official forum is discuss.nubits.com

There wasn't much to talk about since we've been almost totally silent about the project until today. We know there's a lot of talented and educated individuals involved with BitShares. If you all would like to discuss NuBits with the dev team stop by our forum.

We have a busy day of getting everything sorted out. see ya!

cg

Can you address sfgfd's post?
http://www.reddit.com/r/NuBits/comments/2h8bdk/where_to_buy/

[CoinGame]

Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0

Our official forum is discuss.nubits.com

There wasn't much to talk about since we've been almost totally silent about the project until today. We know there's a lot of talented and educated individuals involved with BitShares. If you all would like to discuss NuBits with the dev team stop by our forum.

We have a busy day of getting everything sorted out. see ya!

cg

[Method-X]

It's now clear that NuBits is the first true competitor to BitUSD. The race will be decided by these three factors, in no particular order
1. Community
2. Interest paid on the asset
3. Price Stability

4. Marketing

[smiley35]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

I hope you sold the news... -11% on peercoin

That's exactly what just I did.. and just in time because it keeps dropping.

Doubled my investment of $4 from a few weeks ago. That was of course before I knew about BitSharesX. I'm smarter now.

Again, referring to the press kit link I included above, the Nu system has very heavy reliance on voting. The way they reduce NuBits supply is clever, but my guess is it won't hold up to high volatility. This is a huge departure from the BitSharesX system. NuBits supply is reduced by paying variable interest on "parked" NuBits; if a NuBit is parked, then it is effectively removed from supply, but it accrues interest. This interest is set by a literal human vote, and there is some strange system of time periods in which votes are taken. And they called BitSharesX "Fed 2.0"...

The interest rate can be increased only by 1% per period, but decreased all the way to 0% in a single period. This strikes me as a bit hacky. One thing it means is that if NuBits ever require a huge supply contraction, the network will not be able to make it happen.

It does indeed sound hacky. On top of that, without an ecosystem (i.e. a corresponding DAC) like BTSX, it seems like a pegged asset is of limited utility.

I don't know... I'm more of the opinion that a pegged asset is really the holy grail. I'm not sure what BTSX does that NuShares doesn't. I mean in a high-level community sort of way. To the spending public, if it has stable purchasing power, it's all it needs to be.

It's now clear that NuBits is the first true competitor to BitUSD. The race will be decided by these three factors, in no particular order
1. Community
2. Interest paid on the asset
3. Price Stability

For point #1, NuBits has all of Peercoin behind it; but I think the BitShares community believes in a better story than Peercoin.

For point #2, BitUSD yield comes from a fundamentally different source (trading revenue) than NuBits interest (central bank-style interest rate incentive).

For point #3, time will tell.

Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0

[biophil]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

I hope you sold the news... -11% on peercoin

That's exactly what just I did.. and just in time because it keeps dropping.

Doubled my investment of $4 from a few weeks ago. That was of course before I knew about BitSharesX. I'm smarter now.

Again, referring to the press kit link I included above, the Nu system has very heavy reliance on voting. The way they reduce NuBits supply is clever, but my guess is it won't hold up to high volatility. This is a huge departure from the BitSharesX system. NuBits supply is reduced by paying variable interest on "parked" NuBits; if a NuBit is parked, then it is effectively removed from supply, but it accrues interest. This interest is set by a literal human vote, and there is some strange system of time periods in which votes are taken. And they called BitSharesX "Fed 2.0"...

The interest rate can be increased only by 1% per period, but decreased all the way to 0% in a single period. This strikes me as a bit hacky. One thing it means is that if NuBits ever require a huge supply contraction, the network will not be able to make it happen.

It does indeed sound hacky. On top of that, without an ecosystem (i.e. a corresponding DAC) like BTSX, it seems like a pegged asset is of limited utility.

I don't know... I'm more of the opinion that a pegged asset is really the holy grail. I'm not sure what BTSX does that NuShares doesn't. I mean in a high-level community sort of way. To the spending public, if it has stable purchasing power, it's all it needs to be.

It's now clear that NuBits is the first true competitor to BitUSD. The race will be decided by these three factors, in no particular order
1. Community
2. Interest paid on the asset
3. Price Stability

For point #1, NuBits has all of Peercoin behind it; but I think the BitShares community believes in a better story than Peercoin.

For point #2, BitUSD yield comes from a fundamentally different source (trading revenue) than NuBits interest (central bank-style interest rate incentive).

For point #3, time will tell.

[roadscape]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

I hope you sold the news... -11% on peercoin

That's exactly what just I did.. and just in time because it keeps dropping.

Doubled my investment of $4 from a few weeks ago. That was of course before I knew about BitSharesX. I'm smarter now.

Again, referring to the press kit link I included above, the Nu system has very heavy reliance on voting. The way they reduce NuBits supply is clever, but my guess is it won't hold up to high volatility. This is a huge departure from the BitSharesX system. NuBits supply is reduced by paying variable interest on "parked" NuBits; if a NuBit is parked, then it is effectively removed from supply, but it accrues interest. This interest is set by a literal human vote, and there is some strange system of time periods in which votes are taken. And they called BitSharesX "Fed 2.0"...

The interest rate can be increased only by 1% per period, but decreased all the way to 0% in a single period. This strikes me as a bit hacky. One thing it means is that if NuBits ever require a huge supply contraction, the network will not be able to make it happen.

It does indeed sound hacky. On top of that, without an ecosystem (i.e. a corresponding DAC) like BTSX, it seems like a pegged asset is of limited utility.

[biophil]

To access the website, remove the S in https://

Haha, thanks.

[biophil]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

Two things: NuBits, pegged to USD, and NuShares, whose section of the website doesn't work yet. Dollar pegging is not too far off on the exchange: https://www.ccedk.com/nbt-ppc. Similar to BitSharesX on a high level; holders of NuShares can print NuBits whenever they want to keep the value of NuBits down; then they have a mechanism they call "Parking" which will incentivize holders of NuBits to take them out of circulation when they want to keep the value of NuBits up.

The website is still broken, but check out the press kit: https://nubits.com/sites/default/files/assets/NuBits-Press-Kit.zip

Again, referring to the press kit link I included above, the Nu system has very heavy reliance on voting. The way they reduce NuBits supply is clever, but my guess is it won't hold up to high volatility. This is a huge departure from the BitSharesX system. NuBits supply is reduced by paying variable interest on "parked" NuBits; if a NuBit is parked, then it is effectively removed from supply, but it accrues interest. This interest is set by a literal human vote, and there is some strange system of time periods in which votes are taken. And they called BitSharesX "Fed 2.0"...

The interest rate can be increased only by 1% per period, but decreased all the way to 0% in a single period. This strikes me as a bit hacky. One thing it means is that if NuBits ever require a huge supply contraction, the network will not be able to make it happen.

[svk]

To access the website, remove the S in https://

[svk]

Cross posting my post from Peercointalk:

From the limited information that I've been able to read so far, it appears to be a crypto central bank of sorts, with a money printing press that can be used by NuShareHolders (Custodians specifically) to issue new Nubits to counter demand and thus keep the peg at $1.00. If demand decreases, they can "park" Nubits by offering interest payments to Nubit holders who chose to freeze their funds for a given period of time.

The big unanswered question so far is who are the initial NuShareHolders, and will it ever be possible to buy some? As a custodian you would literally be printing money, seems too good to be true (or legal)..

[biophil]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

Two things: NuBits, pegged to USD, and NuShares, whose section of the website doesn't work yet. Dollar pegging is not too far off on the exchange: https://www.ccedk.com/nbt-ppc. Similar to BitSharesX on a high level; holders of NuShares can print NuBits whenever they want to keep the value of NuBits down; then they have a mechanism they call "Parking" which will incentivize holders of NuBits to take them out of circulation when they want to keep the value of NuBits up.

The website is still broken, but check out the press kit: https://nubits.com/sites/default/files/assets/NuBits-Press-Kit.zip

[oco101]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

Nice website, easy to understand how to use it and what to do with the NuBits. We need something like that for bitUSD.

[bytemaster]

http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

I hope you sold the news... -11% on peercoin