Bitcoin Forum

1Nubit = 1$ Always.No BTC volatile.

Anonymous

It's perfect.

what do you think?

No, PimpCa$h is our new money

Nubits are "backed" by bitcoin in the custodians possessions (even though they can actually just run with the coins at any time). With bitcoin down, nubits are almost certainly operating as a fractional reserve. Of course it's impossible to know because these centralized custodians are completely anonymous and have no transparency or oversight from shareholders of any kind.

This is what pegged assets you can actually trust look like:

http://bitsharesblocks.com/assets/market

Notice there is a clear indication of the collateral. This is because the trade happens on the decentralized exchange on the blockchain, and the collateral is locked and cannot be moved. Nubits are IOU's from anonymous individuals holding some undetermined amount of bitcoin. When a run on nubits happens, these anonymous people will choose not to spend bitcoins to buy the nubits back, and nubits/nushares will get wiped off the face of the earth in an instant.

Nubits is a train wreck waiting to happen.

1Nubit = 1$ Always.

Anonymous

It's perfect.

+1, I agree with u, it is developed by solid team, PPC team, it will be a huge thing. ;)

and i see two BTS people here to bash the opposition

just sayin  :P

It will be as important as PPC is.  ::)

Please, the economy should move away from the dollar. Anything that is fixed to the $ is a catastrophe.

A fool and his money are soon parted.

great idea:
https://en.wikipedia.org/wiki/Argentine_Currency_Board

you tell us about what happend when nubits broke the peg at ccedk.com two days ago?
The bot was disabled and then what? nubits got sold for 0.6$?!? seriously?

Why do you two people use the same words?

Yes I'll jump onto Nubits, because Peercoin was such a success!   8)

People in this forum man...hitch their ride on anything that they'll think will take off knowing it won't.

Only Bitcoin has a remote chance of making it in Crypto, and it's just that...remote.

The idea with a pegged cryptocurrency is that it can be the stepping stone to true adoption of the primary coin. BitUSD will one day become worthless, yes, just like the USD. But RIGHT NOW merchants have to dump their bitcoins instantly when they receive them, or take on a huge volatility risk. With BitUSD they don't have to dump instantly, they can hold indefinitely and then the day when the dollar begins to tank they can get out of BitUSD and into real cryptocurrencies.

The mainstream can't store their money in bitcoin because the price fluctuates wildly all over the place. But they can store their money in BitUSD, and then over time as BTS itself becomes more stable it's easy for average users to use the decentralized exchange to move their BitUSD into BTS. This is the only path to mass adoption that will work, because initial BTC and BTS volatility is so enormous that it invariably hits a barrier once it has saturated the market for people who are willing to accept putting their savings into an ultra volatile instrument.

Nusshit to da Mooon!

There were other bots running on other exchanges..  just because some trades go through on an exchange with a bot down does not mean the peg is broken,  someone could have arbitraged while the bot was being fixed. 

Of course no.

I will take BitUSD instead of Nubits any day.

BitUSD > Nubits

NuBits is a very risky way to hold the value of a dollar.

http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/

nubits would have been better off backing their currency with bitUSD.

be very careful what ever you do!
http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/

some people dont want to learn. first Paycoin and now nusshit  :P

+1 for BitUSD. Sorry NuBits, I trust blockchain tech more than I trust anonymous "custodians"  :P

And now there's a third.

Why peg to the dollare when you can peg to silver or gold?

bitSILVER and bitGOLD

http://bytemaster.bitshares.org/article/2015/01/05/The-Future-of-Crypto-Currency-Exchanges/

Nubits 3M  volume in Coinmarketcap and increasing every day.Its descentralized.
Bitusd =15k=shit.

Seems people is using Nubits and Nushares. Just it works. No volatile.
3M volume is not bad at all.

Nubits/nushares has proved to resist BTC pump/DUMPs,for months.Seems that works.
Nushares is increasing value, too
 

Oy... count the number of Bytemaster links  ::) ::) ::) ::)

the founder of bitshares...

Luckily the moderators move this idiotic thread into the shitcoin section.
We have a perfect example of another wannabe BTC altcoin.
Will you also classify yourself as Bitcoin 2.0?  :D

Nubits is the next generation Crypto coin that builds on top and surpasses all Bitcoin has going for it!

http://cdn.slidesharecdn.com/ss_thumbnails/bitcoin2-140128151755-phpapp02-thumbnail-4.jpg?cb=1390944436

Come on bagholders!  Let's leave this BTC dust we have in our wallets, and go for something more substantial.

Just waiting for Bitcoin 1.0 to crash to zero first... :(

You definitely can see the cheese! 

http://www.proskinitis.gr/wp-content/uploads/2011/11/mouse-trap.jpg

Pegging a Nubit to a dollar is about as easy and likely as pegging a uro to a ton of urea or a gram of weed to a cann coin. Stop falling for this stupid scam.

Still growing up near 4M volume!  :o
nushares growing too

a lot of angry bitcoiners today

What's the growth on the collateral? ;)

This Bitcoin 2.0 marketing, when we won't even see Bitcoin 1.0 for many years.
Good job fooling people with low intellect.

That's because Nubits pay anonymous people to run trading bots to provide fake volume and liquidity, also nubits require external exchanges to even work.

BitUSD does not need trading bots, and also it trades on a decentralized internal exchange, in addition to external exchanges.

There's no faking of volume, bots trading to each other would lose money. NBT has high volume because it's very useful when other cryptos (Bitcoin) are being volatile.



Exactly why it sees no volume. No one outside of the Bitshares world cares about it. " in addition to external exchanges" Oh you mean Bter? Cause that's it, and it has $18 in volume.


To those wondering how reserves work in Nu Jordan recently posted this.

https://discuss.nubits.com/t/regarding-reserves-and-fractional-reserve/1126

Here we are, November 2015. NuBits is the most traded altcoin.

Is it?
http://coinmarketcap.com/currencies/nubits/
Doens't really look that expressive. 24 h Volume is pretty low