Browsing altcoin threads again this “Rubycoin” struck me that we could be doing better:
Basically they have a POS coin and an automated trading software TraderDaddy (which just automates order-placing on exchanges, no blockchain trickery). It seems there is an artificial restriction that you need to keep some Rubycoins in order to use the trading software, apparantly enforced by a mechanism that I can’t find references to.
There seem to be some number of people who are willing to buy/hold Rubycoin just for using TraderDaddy, and Rubycoin’s marketcap has risen higher than NSR; there might be some pump and dump going on but it is alarming.
The incentive system is quite weird, but they outright say TraderDaddy allows users to be liquidity providers and pocket profits that come from trading spreads. Long story short, they make people pay to provide liquidity, while we pay people to do that.
Here I’d like to discuss what it takes for people to voluntarily adopt NuBot and in a meaningful way to NuBits and give us some free liquidity.
One thing that comes to mind is marketing NBT as a way to do cross-exchange and multi-coin arbitrage. NBT is the closest thing to USD on many exchanges and it is more mobile between exchanges than USD.
This kind of setup has something that very naturally replicates Rubycoin’s model - you basically need NBT to take advantage of arbitrage opportunities. As our reputation as a stablecoin grows, I think it is a good step to take.