New stablecoin based on NOK?

[MrKrypto]

Hi! We are a Norwegian team now developing and testing a new stablecoin based on NOK (ratio 1:1) the name will be Norkoin. Our goal is to be a real alternative to Tether, as of may 2017 they failed to prove they had the 100% dollar backing as was promised, and to my knowledge there hasn't come out any new info regarding this?

However, is there really any need for a safe stablecoin right now? Our team is based in Norway, and we have a federal guarantee of all the NOK reserves that needs to back up the coin. The coin will also have build in several safety measurements to prevent us from beeing able to issues more coins than we have backing for.
We are also working on a pure investment coin that is partly based on Norkoin called Govcoin, where any eventual profit is based on Norkoin's success, so it will have some backing downwards, but upwards there is unlimited potential.

Would appreciate any input / ideas that we can take onboard as we're having a developers meeting on thursday. Thanks! 

[bob3772]

Hi! We are a Norwegian team now developing and testing a new stablecoin based on NOK (ratio 1:1) the name will be Norkoin. Our goal is to be a real alternative to Tether, as of may 2017 they failed to prove they had the 100% dollar backing as was promised, and to my knowledge there hasn't come out any new info regarding this?

However, is there really any need for a safe stablecoin right now? Our team is based in Norway, and we have a federal guarantee of all the NOK reserves that needs to back up the coin. The coin will also have build in several safety measurements to prevent us from beeing able to issues more coins than we have backing for.
We are also working on a pure investment coin that is partly based on Norkoin called Govcoin, where any eventual profit is based on Norkoin's success, so it will have some backing downwards, but upwards there is unlimited potential.

Would appreciate any input / ideas that we can take onboard as we're having a developers meeting on thursday. Thanks! 

There are quite a lot of stable coins right now looking to try and compete for the market share if tether fails. I have to think that you'll have a struggle given that your coin is pegged to NOK instead of USD. Aside from the Asian markets almost everyone trades in usd. I know that NOK to USD is one of the most stable currency pairs over the last years but people will still be put off by that, plus it will make it confusing to know what value you're trading at. Can you not just make your coin pegged to the dollar but have it backed up by NOK reserves?

[MrKrypto]

Hi! We are a Norwegian team now developing and testing a new stablecoin based on NOK (ratio 1:1) the name will be Norkoin. Our goal is to be a real alternative to Tether, as of may 2017 they failed to prove they had the 100% dollar backing as was promised, and to my knowledge there hasn't come out any new info regarding this?

However, is there really any need for a safe stablecoin right now? Our team is based in Norway, and we have a federal guarantee of all the NOK reserves that needs to back up the coin. The coin will also have build in several safety measurements to prevent us from beeing able to issues more coins than we have backing for.
We are also working on a pure investment coin that is partly based on Norkoin called Govcoin, where any eventual profit is based on Norkoin's success, so it will have some backing downwards, but upwards there is unlimited potential.

Would appreciate any input / ideas that we can take onboard as we're having a developers meeting on thursday. Thanks! 

There are quite a lot of stable coins right now looking to try and compete for the market share if tether fails. I have to think that you'll have a struggle given that your coin is pegged to NOK instead of USD. Aside from the Asian markets almost everyone trades in usd. I know that NOK to USD is one of the most stable currency pairs over the last years but people will still be put off by that, plus it will make it confusing to know what value you're trading at. Can you not just make your coin pegged to the dollar but have it backed up by NOK reserves?

Thanks! Yeah, that's a valid point! We'll look into that. One of the thoughts behind pegging it to NOK was simply to set us apart from the rest, but also taking into account the incredible stable Norwegian economy and political situation. But i'll take this with me for sure! 

[bob3772]

Hi! We are a Norwegian team now developing and testing a new stablecoin based on NOK (ratio 1:1) the name will be Norkoin. Our goal is to be a real alternative to Tether, as of may 2017 they failed to prove they had the 100% dollar backing as was promised, and to my knowledge there hasn't come out any new info regarding this?

However, is there really any need for a safe stablecoin right now? Our team is based in Norway, and we have a federal guarantee of all the NOK reserves that needs to back up the coin. The coin will also have build in several safety measurements to prevent us from beeing able to issues more coins than we have backing for.
We are also working on a pure investment coin that is partly based on Norkoin called Govcoin, where any eventual profit is based on Norkoin's success, so it will have some backing downwards, but upwards there is unlimited potential.

Would appreciate any input / ideas that we can take onboard as we're having a developers meeting on thursday. Thanks! 

There are quite a lot of stable coins right now looking to try and compete for the market share if tether fails. I have to think that you'll have a struggle given that your coin is pegged to NOK instead of USD. Aside from the Asian markets almost everyone trades in usd. I know that NOK to USD is one of the most stable currency pairs over the last years but people will still be put off by that, plus it will make it confusing to know what value you're trading at. Can you not just make your coin pegged to the dollar but have it backed up by NOK reserves?

Thanks! Yeah, that's a valid point! We'll look into that. One of the thoughts behind pegging it to NOK was simply to set us apart from the rest, but also taking into account the incredible stable Norwegian economy and political situation. But i'll take this with me for sure! 

Yeah, it makes sense, it's just that my personal opinion is it will set you apart in a bad way, at least in the minds of most investors. Would you let me know what the rest of your team says? - for my own personal curiosity.

[pharaon]

At you except for USDT, there will be still competitors. Today saw the news that the Bittrex exchange added to the listing of TrueUSD, the tokens of which are provided with deposits in dollars. May be this information will be important to you.

[Gustafio]

I have tried to read up on your coin, yet unfortunately this project doesn't seem to have either a website or whitepaper, yet it has already reached out to several of the biggest online newspapers in Norway.

They state that they are going to make one of the world's most stable cryptocurrencies, yet does not want to reveal how..
I thought the idea of crypto was that it was going to be transparent?

This is the same person who asked around on cryptographic groups on facebook and tried to promote "Brage" which should be a coin that should do something and be "stable".

He was asked how it could remain stable while being traded on a public market, but he did not know.

Another person said that he could as well make TetherNO, and a short time after we see this... Seems like he took the advice.


The project has gotten a lot of media attention, yet is a project without:
Whitepaper
Registered company
Team Info
Website