NuBits

[roadscape]

http://www.nubits.com/

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

[biophil]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

Ok, I hadn't heard that the developers actually did mention bots. Interesting.

To me, if their plan is to amass a large supply of PPC and then try to stabilize the price by playing central bank, they're just crazy. It's so blatantly obvious that it wouldn't work - unless when they say "stable price" they don't mean "constant price." Anyway, I don't think they're idiots, so I don't think they're trying to maintain a constant PPC price by playing central bank.

It seems like their plan must be to do something like launch cryptocurrency NuBits, then create some kind of price-stable derivative of NuBits (maybe with some similarities to BitUSD) whose price they control with bots via centralized exchanges. Maybe? In that case, the PPC pump is kind of a red herring; it's just people flailing around trying to figure out how to make money on NuBits before they know what it is.

Unless PPC is held as a reserve currency for NuBits... and NuBits is a fancy name for BitUSD I fail to see how PPC can benefit.

Supposedly NuBits will pay dividends in PPC.

That should generate selling pressure... where does the buying pressure in PPC come from?

It would not generate net selling pressure; the PPC have to be purchased (or mined/minted; basically, removed from supply) before they can be distributed. But you're right, it wouldn't generate net buying pressure directly.

[donkeypong]

Anything they have that is better than BTSX we can copy and deploy in a few weeks

NOTE to any FUD'ers: he said "can" with a wink and not "will".

[bytemaster]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

Ok, I hadn't heard that the developers actually did mention bots. Interesting.

To me, if their plan is to amass a large supply of PPC and then try to stabilize the price by playing central bank, they're just crazy. It's so blatantly obvious that it wouldn't work - unless when they say "stable price" they don't mean "constant price." Anyway, I don't think they're idiots, so I don't think they're trying to maintain a constant PPC price by playing central bank.

It seems like their plan must be to do something like launch cryptocurrency NuBits, then create some kind of price-stable derivative of NuBits (maybe with some similarities to BitUSD) whose price they control with bots via centralized exchanges. Maybe? In that case, the PPC pump is kind of a red herring; it's just people flailing around trying to figure out how to make money on NuBits before they know what it is.

Unless PPC is held as a reserve currency for NuBits... and NuBits is a fancy name for BitUSD I fail to see how PPC can benefit.

Supposedly NuBits will pay dividends in PPC.

That should generate selling pressure... where does the buying pressure in PPC come from?

[biophil]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

Ok, I hadn't heard that the developers actually did mention bots. Interesting.

To me, if their plan is to amass a large supply of PPC and then try to stabilize the price by playing central bank, they're just crazy. It's so blatantly obvious that it wouldn't work - unless when they say "stable price" they don't mean "constant price." Anyway, I don't think they're idiots, so I don't think they're trying to maintain a constant PPC price by playing central bank.

It seems like their plan must be to do something like launch cryptocurrency NuBits, then create some kind of price-stable derivative of NuBits (maybe with some similarities to BitUSD) whose price they control with bots via centralized exchanges. Maybe? In that case, the PPC pump is kind of a red herring; it's just people flailing around trying to figure out how to make money on NuBits before they know what it is.

Unless PPC is held as a reserve currency for NuBits... and NuBits is a fancy name for BitUSD I fail to see how PPC can benefit.

Supposedly NuBits will pay dividends in PPC.

[bytemaster]

Even though bots are involved, there may well be other elements. Perhaps bots could be deployed on a decentralized basis somehow? And I don't know if there is any currency involved besides Peercoin. So I'm assuming that if they're talking about an innovation that can keep crypto prices stable, they must be planning to unleash it on Peercoin first. But we will see when it comes out.

Anything they have that is better than BTSX we can copy and deploy in a few weeks     Unless it involves large financial partners making the market (which it seems to require...) but we will have bots for that this week.

[donkeypong]

Even though bots are involved, there may well be other elements. Perhaps bots could be deployed on a decentralized basis somehow? And I don't know if there is any currency involved besides Peercoin. So I'm assuming that if they're talking about an innovation that can keep crypto prices stable, they must be planning to unleash it on Peercoin first. But we will see when it comes out.

[bytemaster]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

Ok, I hadn't heard that the developers actually did mention bots. Interesting.

To me, if their plan is to amass a large supply of PPC and then try to stabilize the price by playing central bank, they're just crazy. It's so blatantly obvious that it wouldn't work - unless when they say "stable price" they don't mean "constant price." Anyway, I don't think they're idiots, so I don't think they're trying to maintain a constant PPC price by playing central bank.

It seems like their plan must be to do something like launch cryptocurrency NuBits, then create some kind of price-stable derivative of NuBits (maybe with some similarities to BitUSD) whose price they control with bots via centralized exchanges. Maybe? In that case, the PPC pump is kind of a red herring; it's just people flailing around trying to figure out how to make money on NuBits before they know what it is.

Unless PPC is held as a reserve currency for NuBits... and NuBits is a fancy name for BitUSD I fail to see how PPC can benefit.

[biophil]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

Ok, I hadn't heard that the developers actually did mention bots. Interesting.

To me, if their plan is to amass a large supply of PPC and then try to stabilize the price by playing central bank, they're just crazy. It's so blatantly obvious that it wouldn't work - unless when they say "stable price" they don't mean "constant price." Anyway, I don't think they're idiots, so I don't think they're trying to maintain a constant PPC price by playing central bank.

It seems like their plan must be to do something like launch cryptocurrency NuBits, then create some kind of price-stable derivative of NuBits (maybe with some similarities to BitUSD) whose price they control with bots via centralized exchanges. Maybe? In that case, the PPC pump is kind of a red herring; it's just people flailing around trying to figure out how to make money on NuBits before they know what it is.

[donkeypong]

One of the developers mentioned that it involves bots. If there aren't counter-parties or trading restrictions, then aside from bots, how would you keep the price stable? The increase in Peercoin's price may be partly attributable to the bot owners' need to have a large supply.

[biophil]

So is it right to assume that these bots are going to be unleashed on Peercoin? Is PPC what they are trying to keep stable?

As far as I can tell, we have no idea if there will even be trading bots. We're all free to speculate about these purported bots, but nobody will know anything until tomorrow. I think.

[donkeypong]

So is it right to assume that these bots are going to be unleashed on Peercoin? Is PPC what they are trying to keep stable?

[smiley35]

Has anyone scoped the boards on their forum? The peer coin/primecoin community is almost non existent. This makes me think that they have a fishy market cap similar to ripples. http://www.peercointalk.org/index.php?topic=2731.0 I found this on their forum, I guess one address is staking 25% of the new coins.

You read my post wrong. That address generates 25% of new *blocks*.  Those blocks are generated by many small stakes so the reward tends to be small, too. The address doesn't generate more new coins than its share of Peercoin money base on average.
The biggest Peercoin addresses are probably owned by btc-e.

huh? I'm very confused.

Edit: Ohhhhh I get it, its like forging nxt in small amounts from tons of different addresses right?

[mhps]

Has anyone scoped the boards on their forum? The peer coin/primecoin community is almost non existent. This makes me think that they have a fishy market cap similar to ripples. http://www.peercointalk.org/index.php?topic=2731.0 I found this on their forum, I guess one address is staking 25% of the new coins.

You read my post wrong. That address generates 25% of new *blocks*.  Those blocks are generated by many small stakes so the reward tends to be small, too. The address doesn't generate more new coins than its share of Peercoin money base on average.
The biggest Peercoin addresses are probably owned by btc-e.

[smiley35]

Has anyone scoped the boards on their forum? The peer coin/primecoin community is almost non existent. This makes me think that they have a fishy market cap similar to ripples. http://www.peercointalk.org/index.php?topic=2731.0 I found this on their forum, I guess one address is staking 25% of the new coins.