Largest Cryptocurrency facebook group founder/moderator on Nubits: "The issue with Nubits is that it is pegged to USD, so if all goes well, it is like having USD"


#1

"The issue with Nubits is that it is pegged to USD, so if all goes well, it is like having USD. Nushares is the speculative angle for it however, so people should buy Nushares if they like Nubits. "

“Nubits however being pegged to 1 USD is like holding 1 USD. There is no speculative benefit. Other than if you believe the peg will hold it might be a safe place to have your crypto money not go up or down much, beyond that of USD.”

Group: Cryptocurrency Collectors Club
Members: 4600+

Permalink: https://www.facebook.com/groups/cryptocurrencycollectorsclub/permalink/691878360918332/


#2

When he said “the issue with NuBits” I first thought he was going to say something negative, but I think all he was doing was pointing out the fact that NuBits don’t rise or fall in value, so if you wanted to profit then you should purchase NuShares instead. In the image he also mentioned Bitshares at the end of the quote…

@crypto_coiner, can you please link us to the Facebook post?

Edit: Nevermind, looks like it’s a closed group.


#3

This isn’t the issue, it’s the main benefit.

The only time I use Bitcoin is when I want to buy something very specific, for a very specific price. Each time I do this I end up buying like at least $100 more Bitcoin than I actually need just in case Bitcoin’s price decides to take a huge fart. When I get the Bitcoin, I try to get rid of it as fast as possible, by making my purchase or converting it into NuBits.

Bitcoin’s speed is also a problem. If I have work or some other commitment in like an hour, I’m not going to be able to move my Bitcoin in time. I’m victim to Bitcoin’s moodswings while I’m doing my thing. Most of the time it’s fine, but I have been screwed over by it before. Bitcoin is just inferior when you’re trying to use cryptocurrency as actual MONEY. And if you’re going the speculative route there’s better options too.

I really hope NuBits or some other stable crypto really takes hold, especially in the markets I pursue.


#4

Read my post above. When he says “the issue with NuBits” I don’t think he is actually saying that as a negative thing. I believe the issue with NuBits he’s pointing out is that they aren’t speculative and don’t rise or fall in value and that if you want to speculate, then you need to purchase NuShares instead. He’s not saying that NuBits are bad because of the peg. He’s saying that it would make more sense for speculators to purchase NuShares.

At least that is how I interpreted it.


#5

…Oh.

Carry on then.


#6

Stability is a huge drawback if you want the asset or the coin to change in value in order for you to speculate…:slight_smile:


#7

@CryptoClub is here