https://nubits.com/exchanges
for example:
https://www.ccedk.com/nbt-usd
https://www.ccedk.com/nbt-eur

Do you even know what proof is? the peg is maintained with US dollars. there are exchanges that have NBT/USD trading pairs and that's where the peg is originally maintained. The NBT/BTC traiding pairs are just some random internet people doing arbitrage.

I think you misunderstood what Jordan might have meant by having no reserves. It means that the "reserves" are actually in use by the custodians to maintain the peg. There are no reserves just sitting somewhere in a vault waiting for a bad day. The latter would be just stupid. Instead, this money is constantly being used to maintain the buy side walls. I think you should clarify for yourself what exactly is meant by reserves. If you find that out, enlighten me too, please.

Any proof of the opposite?

The main trading pair is NBT/USD. They hold USD to maintain the peg. Bitcoin can go to zero, it doesn't change the amount of dollars available for maintaining the peg of 1 NBT per 1 USD.

This is exaggerated FUD that contains misinformation. Why on earth would the reserves to guarantee 1 USD peg to be held in bitcoin? That's just stupid. These reserves are mainly in USD and only a small amount is available in BTC.

You honestly think that the Nu team hasn't thought of BTC crashing to ashes?

Read this topic: https://discuss.nubits.com/t/when-bitcoin-crashes/1132

Not so simple actually. It's simple when demand exceeds supply constantly. Then the NuShareholders would just print more nubits to satisfy the demand. However, when the supply exceeds demand things go tricky.

You can park your nubits for interest, for example. That's an artificial means to reduce supply. You cannot use your parked nubits for a certain period of time but after that you will receive interest for the parking period. This should motivate people not to sell at times when supply exceeds demand. Also, the nushareholders have enough funds to simply buy all the excess nubits from the market and keep the price pegged to a desired value.

Because FIAT is not so volatile. If at any point USD becomes too weak or volatile and it is no longer reasonable to keep nubits pegged to USD the peg can be dropped. As simple as that. It's up to NuShareholders to choose what the peg is. When USD becomes worthless, NuShareholders will simply choose another peg. The whole point of it is the separation of currency function from the store of value function.

So, let's assume there's 60% chance that bitcoin crashes further and 40% chance that the bottom is in and it will now start to increase again. Why not hold 60% of your wealth in USD/NBT then and 40% in BTC? If it goes significantly lower again, use your USD/NBT to buy more BTC. If it goes higher, great! You will earn less but at least you have taken a smaller risk.

Good post! Makes me remind this post:
http://www.washingtonpost.com/blogs/wonkblog/wp/2015/01/14/bitcoin-is-revealed-a-ponzi-scheme-for-redistributing-wealth-from-one-libertarian-to-another/

the bottom must be near one more giant drop to perhaps sub 100$ and UP we go.

What scares me is the situation where everyone starts to expect dead cat bounces. What would happen then? The crashes would get even deeper and bounces would shrink into one giant crash to the bottom?

I just want to hear some plain old chart speculation, so here's the chart:



What do you think? Is it a dead cat bounce? I've seen those bounces many times in the past but never acted upon it. This time I did sell some BTC at 220$ out of curiosity. According to the Law of Conservation of Irony, it should not be a dead cat bounce (because this time I acted upon an assumption that it is).

Here's my line of logic: last time when we had this bear whale battle then it was different because there was probably some actual buying pressure at 270. This time I don't recall we had any crazy price action at 150$. But since it was such a violent drop I would think that it was something more than "normal" volatility. Whoever did it would profit from it if the price ended up lower than 150$, right? So should we expect more to follow?

Or perhaps if it truly is manipulation then we could see an upwards spike to 300+ prices as we have seen before. Those prices won't last long though.

I think the overall thinking has now changed to bearish. I mean, look at even this post. It's rather bearish, don't you think?
Interestingly the buy/sell walls look different than what they were some time ago. Right now it seems that it doesn't take much to make the price go up but previously the buy and sell side walls were more or less equal.


Over the past months I have started to think about a possibility that events happen to deliver people/participants the experience they need. I have come to a conclusion that if you are buying/selling cryptocurrencies for the wrong reasons then you will lose no matter what the true potential of those currencies is.

Right now it seems that many people interested in Bitcoin don't even know/care how it works. A slow and painful downfall is a perfect scenario to "shake out the weak hands". An even better scenario would be if Bitcoin went down and stayed down, never to significantly rise again. That way early adopters would still remain in profit and all the others would be in a loss.

The round 2 would be that some other cryptocurrency gains great value over a short period of time. The get-rich-quickers lose that opportunity since there are so many altcoins out there and the only reasonable way to invest is to carefully review them and select out the promising ones.

Now that people more or less know what cryptocurrencies are, they will find new uses for them. There's no doubt. However, at some point we all get sick and tired of the volatility. Of course at first it was fun to make good profit from a small investment but times have changed. It's time to start using the technology in real life business scenarios. Even if you think that eventually BTC would stabilize and no longer be volatile it doesn't mean the economy is willing to wait that. There's demand for volatility free cryptocurrencies right now and whoever solves the problem will dethrone Bitcoin. I personally bet on NuBits. The fact that 1 NBT is always 1 USD is so precious that sooner or later online merchants/service providers will switch to using them instead of bitcoin.

We're smart in retrospect, aren't we? Do you seriously think that there will ever be low risk high reward situations? If you're not willing to take risks you will never succeed. NEVER! My advice is always to take risks. Obviously it means that you will fail a lot but trivial probability theory and mathematical statistics say that if you get up and keep going after every setback then you will eventually succeed. Or, you will never succeed because you are motivated by the wrong reasons

Dead cat bounce, anyone? I sold some more BTC at 220. Now it's 205.

You're quite right there about that. To open ourselves for new perceptions we must abandon some of the junk we've been trained to pay attention to since childhood. For example, the society has trained us to value marrying and reproduction to the point where we think that this is our ultimate goal in life. What folly. Due to that we keep our awareness occupied with those implanted thoughts just to fit in the society.

We soon move from global adoption phase to global abduction!!! The Martians are coming!

I don't think we're safe. All can happen now.

edit:
fact is that when I foresaw 200+ prices it actually ended up at 1200$.
this time I foresaw 150- prices, so quick extrapolation gives us 25$ prices for the bottom

Those of you who remember, I had a bullish dream in October 2013 just before the big rally to 1000+. I was shocked by the fact that the dream actually manifested. After that I didn't know what to think of my dreams. It was clear that sometimes my dreams did not manifest in this world so I couldn't trust them and I kept quiet about them.

Anyway, to the point. In September 2014 I had this disturbing bearish dream that was somehow very similar to the October 2013 dream in every aspect except that this time it was a bearish dream. I was looking at the charts and saw bitcoin falling as low as 150$. For some reason I did not feel like losing money in that dream. I just observed and stayed neutral. Of course when I woke up I was worried about the dream because I had other expectations for Bitcoin. I was expecting another rally. Due to that internal conflict in me, I did not dare to make another topic about the dream as I did in October 2013. However, something in me forced me to mention that dream in a couple of posts, so those of you who need proof, here it is:
https://bitcointalk.org/index.php?topic=809686.msg9071590#msg9071590
https://bitcointalk.org/index.php?topic=812265.msg9093365#msg9093365




The ironic part is that I was in another city during the days when it became obvious that my dream could actually manifest again. So I couldn't sell any bitcoins, I just had to observe the happening. However, the funny thing was that as all the cryptos were falling, one crypto was rising like a boss --- NuShares. I learned about nushares quite in the beginning and perhaps due to the suspicion that BTC may not do very good in the near future I bought massively into NSR.



I don't know what happens next because my September 2014 dream ended with 150$ bitcoins . Is it the bottom? Yesterday I sold 10 bitcoins at 180$ just to relieve the tension to sell a bit. If it goes lower, I feel good for doing at least something. If it goes up and stays up, 10 bitcoins is not that big of a loss. Besides, the NuShares rally has been a really nice hedge against BTC's painful fall. I actually sold quite a decent amount of BTCs when it traded at 300$ last time due to secret reasons. I still hold that money as nubits because I would obviously not trust Bitstamp nor banks with my fiat after what happened. 1 NBT always being 1 USD is a perfect hedge against BTC's downfall and neutralizes the threat from Bitstamp and banks who cannot be trusted with your money. I can hold nubits in my wallet and it's like holding USD.

I must admit I have mixed feelings about making this topic because it sounds like bragging. I don't brag any more because after reading some serious spiritual books I started to fight my self-importance. I even deleted my facebook on the 1st of January 2015 because I kept some muscle flexing bodybuilding photos there (not a very wise thing to do for a person trying to beat his self-importance). So why did I make this topic? Because it's an awesome tale of power and I have no personal gains here. I know that whatever my dreams are, I am not able to abuse them for personal gains. I will not start a blog of my dreams and what not. All I hope is that some will find this topic relevant to their esoteric interests.

edit: changed the title a bit

There is real threat that your DNS may take place earlier than any tunneling. To be sure, use this test: https://dnsleaktest.com/

edit: I don't know the specifics of SSH tunneling but with VPN it is a threat.