Coinmarketcap : NBT --> $ 0.79

[cryptog]

23.18% now.

[crypto_coiner]

That does not look like a peg…

[crypto_coiner]

In the mean time,

[benjyz]

We shouldn’t rely on coinmarketcap too much. As explained above just one figure is not enough. It’s important to know the timestamp of the price. In the future we’ll have public data available, so that we can investigate any large deviation and provide historic data. CMC by definition is not a good source, because it uses the last price only. What we actually want is live data and compare them accurately. That is much harder than one might think. I’m not even sure BitUSD is comparable as its traded not on exchanges. Basically that means they control the prices, AFAICS (I might be wrong, but it’s not comparably to trade against many exchanges).

[crypto_coiner]

What we actually want is live data and compare them accurately.

One’s own Live data is really a MUST for a currency that aims at being the currency of the Web = The World’s First Stable Digital Currency

[desrever]

Run the price bot on your machine, @creon can help with the setup.

[crypto_coiner]

Txs for the suggestion - I’ll try asap

[cryptog]

What price bot? NuBot?

[creon]

I think he means this price stabilizer: https://github.com/creon-nu/nubit-stabilizer

My running bot ran out of NBT on CCEDK (had only 0.1 there) and so it wasn’t able to reset the price earlier. I filled it with one full NBT this noon and afterwards it successfully set the price from 0.00343133 to 0.00457 as you can see in the trade history on CCEDK when looking for 0.05 NBT trades, which are shown as two 0.05 NBT sells although one of them actually was a buy (no idea why this is happening on ccedk):

https://www.ccedk.com/nbt-btc

[Ben]

Can you post an NBT address? I can send a few your way

[creon]

This is very nice but not required, thanks.
I just don’t want to let the bot run with more than tiny amounts because there could be a bug that depletes all the funds and since each price reset only requires to have 0.05 NBT balance on that account I don’t see how having much more NBT there would be useful.

[desrever]

we should also start staring at more reliable resources like this one : https://www.coingecko.com/en/price_charts/nubits/usd/90_days

[crypto_coiner]

NuBits Price Chart (USNBT/BTC) | CoinGecko

[benjyz]

We’d want more than just one trade. A single price point says very little. Two people might agree to buy and sell 1 NBT for 2$ or 0.50$ for whatever reason. That alone is not a problem. The orderbook contains much more information. If someone trades 10$ worth, that is not the market. Deviations of prices for tiny volumes should not be the focus.

I’ve already built the streaming service and data store. Should be available in a couple of weeks. The more accurate price is the (bid+ask)/2, and for all exchanges. But even then one is only looking at the top of the book, and there is no measure of quantity.

[Chronos]

Two people might agree to buy and sell 1 NBT for 2$ or 0.50$ for whatever reason. That alone is not a problem.

That is a problem, not only for the traders who got ripped off, but also for the order book, which should have had custodian walls preventing this from happening. If I offer to sell NBT for $2, the order should never be filled, because custodian liquidity should be making a better offer at all times.

[benjyz]

What I meant is an off the books transaction - two parties can agree to buy and sell at whatever price they wish. So the Nu peg refers to transactions which happen on specified exchanges, where buying and selling is mediating through some agreed third parties. That is a huge different to the Bitshares Peg, which takes place on their exchange (which is claimed to be decentral).

It also depends on the volume. If somebody would by 5 million US-dollars worth, the order could not be filled. The promise of an exact peg at 1.00$ is theoretically impossible. At least there has to be some spread which is larger than 0, i.e. the bid and ask will not be the same. And there is a limit to the promise of the peg in terms of outstanding liquidity.

[Chronos]

What I meant is an off the books transaction

In that case, it is not a problem, because no price reporter like http://coinmarketcap.com would pick up such a trade.

That makes sense. Thanks for explaining.

[ronny]

Re. Goingecko, Have been asking them to add NBT and NSR for a while now, Glad to see it finally happened. I use them a lot for getting rates in various fiat currencies.

[willy]

Have been asking them to add NBT and NSR for a while now, Glad to see it finally happened

They have us nearly three months.

->

NuBits added to coingecko, NSR soon

https://www.coingecko.com/en/coins/nubits They seem to have an interesting yet complex approach to the score. EDIT: I don't like the short "About" they pasted about NuBits. Can anybody provide me with a better one? I am in touch via email and ask them to update it.

[ronny]

Sorry about that, did not realize how long I have been working with Nubits already.

Was in touch with Bobby from Coingecko already end of October introducing our Top-Up Service CCPAYT.com in which Nubits is also an important part presented in an article from cryptoarticles http://www.cryptoarticles.com/crypto-news/exchange-alternate-cryptocurrencies-to-bitcoin-instantly-with-ccpaytcom , and it was this time I was thinking of when speaking with him per e-mail, and I just checked, Oct. 27th, so yes its been a while now, thinking of it as like end of the year. But happy to see you have been doing some work on it as well making it finally happen some few weeks later.