Introducing Bitcoin.co.id - Nubits/Bitcoin with 0% Trading Fee

[bitcoincoid]

Thank you so much @Woolly_sammoth

I really happy support of Nubits team and community are execellent

If you has difficulty with our API , please contact my CTO william in this mail : william@bitcoin.co.id

[cryptog]

I believe one slot remains.

So you would still give 1m NSR reward (the fourth and last reward among the original 4m NSR) to the elected custodian that would support NBT/BTC for 30 days but you doubt the proposal would pass?
I believe that @qucubert2 was competing for the 4th slot here but since his proposal did not pass and nobody applied after him, my understanding is that the slot is yet to be filled.

EDIT: All 4 slots have been consumed.

[cryptog]

I guess we will see proposals to provide liquidity to bitcoin.co.id, asking for a reward but right now, since the nsr custodian mechanism has not been implemented yet, the reward would need to be in nbts. We would need to wait for statement from jordan lee if one would want to get nsrs as a reward, or do you think it is possible to ask for nsrs in the proposal? I think it is but probably very difficult to pass.

[bitcoincoid]

Update for day 2:

Nubits volume trading reaching 1000 Nubits . Nubits Orderbook is full of buy order instead of sell order. Price of Nubits still around $1.1.

I already contact coinmarketcap to list us as well. Thank you

[bitcoincoid]

Hi Nubits Community

I really need somebody who want to sell your nubits for profit in my site. Our price has been higher by almost 5%.

Here is our current buy orderbook when in Bter show 1 nubits = 0.004660 :

Price (BTC) NBT BTC
0.004858 59.68092219 0.28992992
0.004855 590.47885066 2.86677482
0.004801 50 0.24005
0.004800 30 0.144
0.004799 10 0.04799
0.004700 2.24117234 0.01053351

[desrever]

Hi @bitcoincoid, as I told you in my prev post, you should disable it. it can be hard to find someone willing to manual change the price of their orders every 30 seconds, I personally wouldn’t do it.

[bitcoincoid]

hi @desrever

Thank you for your suggestion but It will not bring good image to disable it. Anyway the problem already fix

Our arbitrage trader already start pay attention to this Nubits/BTC in my exchange. The volume for this 24 hours already reaching 1500 Nubits.

I will give all of you other update in this thread when something interesting happen

Thank you.

[tomjoad]

Good lesson for anyone reading this - if you see NuBits for sale at $1.10 on any exchange, it is profitable for you to undercut that price to sell NuBits at $1.05 and then replenish your stock for $1.00 US at an LPC supported exchange. Arbitrage will balance the price out to $1.00 US as long as LPCs are operating on some exchanges, even if it may not be as quick.

[desrever]

Update : wrappers ready, undergoing testing. Will likely release with nubot 0.1.5 next week.

Is none of my concern but, can I ask @bitcoincoid if you are considering dropping Paycoin? The image of your exchange can also affected by it. This is my personal opinion.

[bitcoincoid]

@desrever

Wow, thank you. It really fast. Our members keep asking about Nubot especially the one who understand the concept well. I also create one article about Nubits yesterday: http://indonesia.bitcoin.co.id/sekilas-tentang-nubits/

We can not drop Paycoin because many people in Indonesia like to trade Paycoin. We handle about 2.5% of total Paycoin trading volume (around 20 - 40BTC daily). We are the biggest top three exchanges that handle Paycoin. after Cryptsy and Bittrex. Many of our members still holding some Paycoin and happily trade them because of their huge volatility. The paycoin added also because of request from many of our members.

[masterOfDisaster]

You should think twice about Paycoin. While it might be worthwhile considering the trading fees you earn, it could harm your present and future business because supporting scams like that can only be toxic.
This is for sure only my opinion, but better announce discontinuing Paycoin than suffer from supporting it.

[desrever]

Thanks, we are doing our best to be as reactive as possible. I’ll keep you posted

We can not drop Paycoin because many people in Indonesia like to trade Paycoin.

From a mere quantitative approach makes sense only short term, and shows an opportunistic business vision that will keep a lot people away long term.
I wouldn’t do business with a guy that goes at tech conferences with bodyguards, continuously frauded customers and currently under investigation by SEC . I will run away from it as fast as I can.

A silly analogy : let’s say you own a milk shop , and one day a guy shows up and tells you " I will be your milk provider and will sell you milk at 0,1$ / liter. " You accept and for one week your customers are very happy to buy cheap milk. One day you find out that the guy was selling you rat milk. What would you do as a business owner?

@ShapeShift_io shut down XPC despite they were doing good business. Similarly did @Excoin and also wrote about it here https://blackwavelabs.com/ .

People appreciate honesty and integrity, and one day will thank you for not giving them rat milk :).

[bitcoincoid]

Well, I think you guys missunderstood something. We are from Bitcoin.co.id never earn anything from alternate coin trading. We offer 0% trading fee for all altcoin trading. We do not create any article endorsement about Paycoin as well. But Yes, I create article about Nubits since you guys have nice concept of cryptocurrency.

Paycoin trading platform is exist in our site due our customer request. It will still be there when our members still want it. Our members are our king. But if our member vote to not trade Paycoin anymore then we also will remove it. As simply as that. If they love rat milk, then we will serve rat milk with zero profit for us.

[tomjoad]

But Yes, I create article about Nubits since you guys have nice concept of cryptocurrency.

And we appreciate it. Your support of NuBits is important to us as it exposes us to an area of the world that we have had very little presence so far. It should be none of our business which cryptos you choose to offer for trade if the demand is there from your customers. Most of our community members simply don’t see the value in PayCoin as it has had many shady business practices and promises associated with it, which is the antithesis of our Nu approach.

[masterOfDisaster]

I’m sorry that my previous post in this topic sounded a bit harsh.
But my intention was to save you and customers, that might be not well-informed from trouble when dealing with PayCoin.
@tomjoad is right with his explanation, I was alarmed when I read about you trading PayCoin, because all I know about PayCoin is indeed the exact opposite of what I see and experience in Nu.
I should have done what I’ve recommended, though:
thinking twice before posting would have suited me much better

[zoro]

we shouldn’t care about paycoin. it is just a very risky coin but what coin isn’t risky nowdays. at the end all investors must be informed and never invest more than they afford to lose

[desrever]

Update : @bitcoincoid wrapper tested and merged into develop .

Just a couple of days away from testing the nubot integration.

[bitcoincoid]

Cool
Plase let me know if the bot ready so I can prepare other article to our member so they can start trading nubits.

[cryptog]

nubits available for trading on bitcoin.co.id https://www.facebook.com/photo.php?fbid=1550797008510172&set=a.1499935243596349.1073741828.100007396635615&type=1

[bitcoincoid]

Yes it available but our member still waiting for the bot to start trading it actively. We are really looking forward for the trading bot