Continuing the discussion from
Question about selling pressure aka the buy wall:
-Biggest problem now for Nubits in my opinion is customers experience problem, in my opinion, all Nubits exchange should be on separated page (possibly directly on or link from current exchange account balance page) providing direct exchange rate to Nubits without buying/selling order and/or providing current interest rates for parking Nubits, we don’t need (stupid visible huge) buy/sell wall and worst many trash buy/sell order filling up everywhere (ie. buying 1 usd for 1 cent) it should all be deep hidden in the backend in every supported exchanged. This will separated Nubits and any other crypto currency and give much better experience to customer as to just another crypto with really big buy and sell wall on an exchange.
With this customers experience improvement I mentioned, everything should still works as it is. It shouldn’t required much work other than some changes from the exchanges side.
What is the need of trading pair anyway? (BTC/NBT) From my understanding of Nubits system. Those wall shouldn’t be breach anyway, so all buy/sell order should all be from the Nubit bot itself anyhow. I think most people would feel much more comfortable converting BTC to Nubits (and vice versa) directly with current exchange rate (with options to exchange with higher or lower rate than current rate and get in queue) provide to them instead of buying into huge sell wall. Same outcome but much improve from customer experience end and much more professional.
I think we should take out trading pair as soon as possible. We should have people view Nubits as service providing stable pegging to USD and NOT just another pair of crypto currency. (“ppc is a coin nubits is a coin” quote from some member from well known exchange.) Distributing/ Introducing Nubits to the world shouldn’t be trading pair. But service add-on to those exchange instead, on its own page and space with clear introduction and usefulness of Nubits then it should give the feeling of stable and trusted service as to usual pump and dump coin with big walls.
Other thing I feel concerned is the API connection between the Nubits bots and exchange. What would happen if there is lost of connection (accidental/ human error). Is there any already solution implement to conquer with this type of problem? The easiest I could think of my head now is to halt all Nubits exchange in case of losing connection between API.
-I am Thai student studying in China, (thus sorry for my english) and I know for sure adding nuCNY now would created a lot of buzz in China. I think nuCNY should be implement as soon as possible (after improving customer experience which I think should be first priority.)
-I lost most of my money (most likely instant noodle for lunch/dinner for the rest of semester) buying PPC thinking I was somehow supporting Nubits. I was wrong, but I expected much more from Nubits. It is a very good stuff just need some little tweak and improvement.
If anyone or any body from Nubits think this is useful please support me, I am more than happy to discuss or give more ideas about Nubits to improve it.
@p_noch, good post! Your proposal makes sense but will require all exchanges worldwide to change their way of functioning, which is highly unlikely. And even in the hypothetical situation where all existing exchanges agrees with this new plan, nothing can stop me from opening a new exchange and adding a nbt usd pair and having people trading it openly.
After seeing trading in action for a while. I think for now having trading pair is not that bad after all. I’m just trying to throw out ideas to make Nubits better for all.