we should also start staring at more reliable resources like this one : https://www.coingecko.com/en/price_charts/nubits/usd/90_days
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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.
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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 $2, the order should never be filled, because custodian liquidity should be making a better offer at all times.
What I meant is an off the books transaction - two parties can agree to buy and sell at whatever price they wish. So the Nu peg refers to transactions which happen on specified exchanges, where buying and selling is mediating through some agreed third parties. That is a huge different to the Bitshares Peg, which takes place on their exchange (which is claimed to be decentral).
It also depends on the volume. If somebody would by 5 million US-dollars worth, the order could not be filled. The promise of an exact peg at 1.00$ 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.
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.
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.
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They have us nearly three months.
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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.
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