Seems that Nubits+Nushares will be the true next BTC

[Labteck]

1Nubit = 1$ Always.No BTC volatile.

Anonymous

It's perfect.

what do you think?

[1714640244]

1714640244

[1714640244]

1714640244

[calme]

No, PimpCa$h is our new money

[Shuai]

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.

[kokojie]

Nubits is a train wreck waiting to happen.

[fox19891989]

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.

[bitcreditscc]

and i see two BTS people here to bash the opposition

just sayin 

[Lauda]

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.

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.

[QuestionAuthority]

A fool and his money are soon parted.

[turvarya]

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

[tmpxeroc]

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?

[R2D221]

1Nubit = 1$ Always.No BTC volatile.

Anonymous

It's perfect.

what do you think?

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.

Why do you two people use the same words?

[ChuckBuck]

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

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.

[Shuai]

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.

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.

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.

[LiteCoinGuy]

Nusshit to da Mooon!

[teek]

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?

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. 

[vlight]

Seems that Nubits+Nushares will be the true next BTC

Of course no.

I will take BitUSD instead of Nubits any day.

BitUSD > Nubits

[FandangledGizmo]

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/

NuBit is at best an unsecured IOU from unknown issuers. It only becomes a Ponzi scheme once NuBits is forced to print new NuBits to pay interest on old NuBits. They are not currently doing this, but due to the fractional reserve, naked-shorting that I believe is being practiced it is inevitable. Even Ponzi started out with honest intentions.

"Even if the NuBit custodians have the best of intentions, we know from their trading volume that they keep a large quantity of BTC on the exchanges. Therefore, we know they have lost 50% of their capital held as BTC.*** If an exchange were to be hacked or compromised then the NuBit custodians would lose a large amount of their capital making them instantly insolvent and unable to peg NuBits to USD.

We can conclude from this that in a declining crypto-currency bear market that the NuBits custodians must be practicing fractional reserves and are therefore insolvent."

[jrossIV]

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

[liondani]

1Nubit = 1$ Always.No BTC volatile.

Anonymous

It's perfect.

what do you think?

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

[LiteCoinGuy]

1Nubit = 1$ Always.No BTC volatile.

Anonymous

It's perfect.

what do you think?

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