I would support USD/NBT in a heartbeat.
But I think you mean btc/NBT?
I’ll have to think about it.
We have T4 in btc. How can we support a gateway on anything but nbt/btc?
i mean nbt/usd. I see that hitbtc has btc/usd. So nbt/usd should be possible.We only need to persuade hitbtc to add an exchange of nbt/usd. The real trouble could be AML requiements for depositing usd. But if only selling is supported, no depositing of usd is needed.
No, because it might let me strand with USDT, USD or other fiat I couldn’t withdraw.
Withdrawing USD isn’t possible without meeting AML/KYC requirements - and even if: where to?
There’s no Nu or FLOT bank account where it could ultimately end. And it wouldn’t be good to do it that way even if it were possible. Money on bank accounts can be confiscated just as money (or other funds) on exchanges.
That’s why NuSafe had to be invented to keep a part of the reserves nominated in USD.
I think if it is a doubleside gateway, the fiat fund doesn;t need to be withdrawn. It will be used on the buy side. If there is ever a need to withdraw, change it to BTC (then onward to NBT if needed). This kind of gateway isn’t the minimalistic typws we have. The problem might be that even being able to trade fiat might need to meet KYC/AML requirements.
If it were a pool, the LPs will deal with the AML/KYC issues.
That’d be possible - supposing there’s sufficient BTC/USD liquidity.
That’s one of the reasons why it’s hard to attract liquidity to those pools.
If it’s ever necessary for Nu to support NBT/USD pairs by funding operations (obviously directly only possible with NBT; USD had to be deposited as BTC and converted) and Nu can live with USD sitting on the account for some time, count me in (as long as AML/KYC doesn’t apply to trading USD pairs)!
I have asked HitBTC…4 times to create a USD/NBT pair. And I even said I would guarantee 2K on each side for liquidity. But they either did not get back to me. Or said there wasn’t enough volume on the BTC pair.
With only 500 on sell side that exchange is starved off. And that is where they earn the money. The fiat pairs are not the big money makers. I would support a dual-side bot on HitBTC to start with.
and for now, what can NUBIT do ? what can Nubit use for?
I can propose a dual side operation that replaces the current sell side only operation, if that’s what Nu wants to have there.
Maybe propose when the current sell-side only operation expires? It is just my opinion.
Thanks for the info. It’s indeed difficult to attract exchanges to do fiat/nbt. Maybe I should dust off
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I think I will create a motion that replaces the sell side only operation when it passes.
I’d love to see you start an ALPv2 there.
I have zero experience running a pool with clients and as much experience with ALPv2 server or client, so I won’t be a good operator if questions arise or things need to get fixed.
This is nothing I can jumpstart, but I might look into it.
Some are we going to see a bitcoin pricr decrease because miners quit mining?
Some links:
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back to 1000$ or more centralisation and 0$?
0$ is impossible unless a better version is made (as a deflationary or very low inflationary currency) that gets the same limelight of branding that btc has had. I say choppy rise to 1000-1200, sideways, up to 2300-3000+, a bit down and sideways, up to 10,000, long price crash to 1500, with a average of 3000. (Thats my conservative-grandiose outlook.)
Hyper grandiose model says, 3000 then pause, then 10,000, then 100,000, then huge crash. This model is from looking at how each bull run breaks through 1 logarithmic scale, hits the next one, bounces off downwards, then creeps back up. Take this for example= 0.10, 1, 10 (july/august 2010), then down to 2-3$, then several bumps up to 10, then a bump past 100$, down to 100$ as support, then up to $1000~, down to 100$, up some to (we shall see)?..
Conservative model would say 1000$ will be a bull trap, but I find that hard to believe.