More participants in the stable cryptocurrency race. Nu needs more awareness

[drei4u]

We already have Bitshares stable asset classes. Now, Ethereum is going to have one. http://www.reddit.com/r/ethereum/comments/30f98i/introducing_edollar_the_ultimate_stablecoin_built/

The NU Network should start increasing public awareness to Nubits. Otherwise, it will be relegated to the back of the room as a curious experiment.

[cryptog]

Nice catch. 2015 is the year of stable currencies.
It seems that edollar is collateral-dependent, like bitusd…

[thExit]

I’ve been reading this as well before, I knew it’s going to be a matter of time before a “stable” currency attempt would be taken up at Ethereum, that’s no surprise. Nu’s ahead in this race, maybe it’s reasonable to take advantage of that…

[Sentinelrv]

I think things will change once we go open source and get some more major exchanges that support us. Most of our exchange volume was wiped out due to all the hacks and shut downs. That huge daily volume was our biggest advertisement. We need some major exchanges to help us get back there and continue development on liquidity pools, so as many people as possible can participate.

[Hyena]

that damn bter ruined everything with their hack. and they still owe me 6 bitcoins. total setback. we need some more aggressive advertisement immediately when the source code is published. perhaps a paid article even though some would see it as an immoral option. ethereum has shit load of finances backing them up so if we’re competing with them we must adapt some more foul strategies.

[Ben]

perhaps a paid article even though some would see it as an immoral option

I can’t support that; not because it’s immoral, but because I just don’t think it works well. People are pretty good at discerning “shills” from authentic content.

On the other hand, using funds to place advertisements in prominent places is certainly something that I can support and hope that we’ll consider.

[Hyena]

Well isn’t an ads essentially the same as a paid article?

[Ben]

Well isn’t an ads essentially the same as a paid article?

They serve the same purpose, but there are clear differences to me in how they are percieved.

[Sentinelrv]

On the other hand, using funds to place advertisements in prominent places is certainly something that I can support and hope that we’ll consider.

Agreed. One that I know of will be the ad Cybnate talked about to advertise our shapeshift android wallet, hopefully as a banner on coinmarketcap. We could advertise directly other places as well, reddit, crypto news sites, etc…

Ethereum and Vitalik also go to a lot of these conferences to speak and spread the word, but I don’t think we’re at a level of strength yet to be able to do that.

Well isn’t an ads essentially the same as a paid article?

Paying the media to write positively about you just doesn’t come across as a positive sounding thing to me. I would much rather somebody write an article about us coming from a place of true excitement, that way it comes across as genuine.

[thExit]

I agree in every respect and I view the recent events as a small bump on the road. The strongest advantage is the community behind Nu, the people sharing their efforts to overcome problems, that’s the most valuable asset of Nu.

[Hyena]

Seems to me that we need a spokesperson then but please let us not choose someone by the name Josh. History has shown that having a guy named Josh for the spokesperson will bring bad luck

[Ben]

Seems to me that we need a spokesperson then but please let us not choose someone by the name Josh. History has shown that having a guy named Josh for the spokesperson will bring bad luck

[crypto_coiner]

They serve the same purpose, but there are clear differences to me in how they are percieved.

I agree

[tomjoad]

The “eDollar” will suffer from the same scalability limitations of the BitUSD design. At a 300% collateral requirement, no more than 33% of the value of Ether can be created as eAssets. eDollar is like BitUSD in that it is just a repackaged exposure to an underlying base asset (ether), which is itself backed by nothing but the collective belief of its holders. Putting in a “collateral” layer seems to fool people into thinking it is backed by an actual asset.

The NU Network should start increasing public awareness to Nubits. Otherwise, it will be relegated to the back of the room as a curious experiment.

NuBits were consistently in the top 5 of trading volume in December and January - we were far from being at the “back of the room”. Since then, we’ve lost 99% of our trading liquidity through centralized exchange failures and have not distributed a single dividend.

Our network should be much more concerned about simply surviving right now, through establishing working relationships with larger exchanges, and through exploring decentralized exchange options. A sizable advertising campaign will be coming with the upcoming release of our ShapeShift-enabled mobile wallet, which I’ll be working with @Cybnate on.

[desrever]

What happened to shilling then?

EDIT: found in the first reply http://www.reddit.com/r/ethereum/comments/30f98i/introducing_edollar_the_ultimate_stablecoin_built/cprwel8

Back to eDollar.

In short, the eDollar is a token pegged to the USD that is issued in a manner similar to bitUSD, and that has a DAO (called Maker) backing it and providing liquidity similar to the system of liquidity providing custodians that NuBits uses.

So its a bit of us and a bit of them.

This also sounds… experimental -->

The profits will be used to buy diversified collateral, such as gold vouchers from DGX.io. This diversified collateral will be used as a last resort in case the ether price crashes so fast that some positions become undercollateralized before they can be margin called (known as a black swan event).

[Sentinelrv]

I’m sorry, but eDollar is such a boring and predicatble sounding name. Just my opinion.

[erasmospunk]

Please read this proposal that can bring awareness to Nu

Nu as a local economy liquidity provider

I am proposing a scheme that could increase the value of the Nu network, decentralize and deepen the liquidity and stabilize the peg. In this scenario the shareholders vote for custodians that give NBT loans to local businesses with 0% interest rate (in the future could be in different Nu units). Those custodians could be individuals or companies that curate a local barter-like network of businesses, freelancers, etc that exchange services and products between them using NBT. The businesses ca…