Exco.in has opened a market for trading BTC/NSR

I’m nearly done with the NSR dividends collection patches. I have started looking into the feasibility of voting with your shares from within our system. If there is enough interest I may be able to implement that too.

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If anyone is interested in selling NSR we could use more liquidity on Exco.in.

It looks like the asking price there is above other exchanges currently, so I hope people who are selling NSR take you up on your offer. Your exchange’s interface is very pleasant to use too.

Twitter shout-out. https://twitter.com/OfficialNuBits/status/544215501099241472

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As much as I appreciate your efforts to create value for your customers by staking with the deposited NSR (on the behalf of their owners and not your behalf), I want to share some thoughts.
First I thought I should call it concerns instead of thoughts, but I found out that this would be in conflict with my understanding of what NSR holders are and what they are responsible for.
By minting with deposited NSR you contribute to the block chain security. That is good.
I expect no votes to be configured in the current minting mode because of this:

Having no votes configured means voting against all motions, custodians and park rate interest rates (above 0%). This is bad, but each NSR holder (and that is true even for those who decide to hold their NSR at exchanges) must be aware of the risk that comes with granting some other entity control over the NSR and excoin not only is open about minting with NSR, but also tells the minting ratio.
Whoever keeps NSR at excoin and not only trades there, is informed!

I highly appreciate your efforts in looking into the feasibility of creating configuration options for customers to vote with the deposited NSR.
Once again I caught myself thinking that this is the wrong way to deal with NSR. They shouldn’t be kept at an exchange even if they can mint there with votes configured by the NSR owners. But then again, if too many NSR are kept at an exchange and that leads to problems (due to centralization and the implications for the Nu network if a majority of NSR were kept at excoin and the minting power of excoin would be undermined by ddos or something else), it’s for sure not the fault of the exchange that tries to create good service, but the fault of the NSR owners who messed that up!

So I came to the conclusion that in the end I appreciate your efforts very much to create an even more amazing exchange with features like “minting with configured votes” that seem to be unique!

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@masterOfDisaster I really appreciate you writing thoughtful feedback. We want to create a service that is built for innovative crypto-currency communities and it is hard to know what they need without feedback.

I agree with your concerns about consolidation and with how fast proof-of-stake takes to transfer, I encourage users who do not have their shares on the orderbook to keep them in their own wallet staking.

However we also want to strive to make sure your shares are transparently accounted for and fully usable if they are left on our exchange. At this point we still have not decided which approach to take. We may decide to stop staking by keeping the reserve fund at the level of our wallet balance. Right now it is set to 20%, so no more than 20% will ever be staked.

What if the exchange displays the following info at a user’s NSR trading pages:

  • available motion titiles, each with a check box of “you are voting for it with you NSR”
  • NBT parking rate being voted
  • how many mint reward and dividends this account has earned
  • a link to a FAQ page of what the above mean

I think the above certainly increase attractiveness of the exchange – it would be an industry-first to provide such level of service specifically made for tradeable currency/commodity (not only limited for NSR although I’d like to see NSR being the first). This would be a good PR for the coin/commodity so the community and the dev team would be glad to collaborate with the exchange. This would certainly make the user happy – it’s almost a second NSR wallet that mints 7x24.

I think exco.in has a unique position to implement such features (not only for NSR) because its account-transparent architecture. Exco.in positions itself as a platform specialized in innovative coin/commodities. If the trading pages also show the novel features of these coins, I for one would be very interested in browsing and even try to buy a few coins to try the features out. The above WILL need a lot of work however.

This is similar to what we have been talking about internally. We suspect that NuShares might be the first major organization built using ontop of the Peershares source but it won’t likely be the last. If we build these tools they may be useful if more organizations form using similar structure.

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That is very far-sighted!
You are running an exchange the world is in need of :wink:

The exchange might transform into a crypto-portal in the early years of the internet, offering easy bridges to services (like Yahoo! Thinking different coins are “sites” of cryptoworld). The metaphor shows more than one side however, since we know most internet portals didn’t pan out (Lycos, geocities…), and in the end it was the search company to rule the world as internet contents exploded.

I think this metaphor is describing very well what is needed and what might happen.

In difference to the early days of internet I think the crypto coin development will stay closer to portals or alike functions for some time.

Search functions will become important as the crypto coin related implementations spread, but that might be done by the big search engines that are left in the aftermath of search engine and portal dying.

Crypto portals will become outdated once decentralized exchanges run fine and are able to largely replace exchanges hosted on websites. By the time portals are obsolete search engines will profit from connecting customers with businesses.

But still some crypto portals will remain with shrunken importance.

Taking into regard how slow the adoption of crypto coin stuff in the real world is, the above might take some time or maybe won’t happen as long as we live.

We believe that centralized exchanges are a stepping stone to decentralized exchanges. We feel decentralized exchanges are the direction the crypto ecosystem needs to move towards. The funds raised by our exchange are put back into development of a coin neutral wallet that hopes to facilitate easy and safe geolocal exchange. You can read more details here: http://blackwavelabs.com

There is interest in obtaining more NSR, I personally will buy more at slightly above market value at https://exco.in

Got intrigued by Nu, wot?

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Excoin open source Ruby API Wrapper is now available on github. Other wrappers and open source ruby trading bot coming soon.

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@Excoin , I figured that you can also extract the Java wrappers from NuBot (its open source and modular) . We should help each other back and forth .

Here is the ExcoinWrapper which extends two interfaces : ServiceInterface and TradeInterface. In TestWrappers.java you can find some sample usage.

Do not hesitate to ask more

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@desrever: Wow thank you! That will be incredibly helpful.

We updated our translations to include NuBits and NuShares as 纽比特 and 纽股份.

We surpassed 50 BTC 24H Volume for the first time, and this achievement was reached in our first month of operation. We look forward to adding our NBT centric exchanges soon.

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I seems that the exchange is offline

We apologize, we had to take web client down. When we hit ~60 BTC 24H volume, the increased traffic and demand on the trading engine helped us notice a small bug in the trading engine. Some trades were not processed. We have since resolved the issue and everything is working again.