People who are new to NuBits might get really fast that the NuBits price is 1 USD. And they might be amazed by that But they might not understand how this works in the background at the same speed. If they don’t understand how the peg is maintained (and where!) they might become subject of other people who take advantage of that.
Although I think people need to take care for their money themselves, I think a little bit of assistance is not bad at all.
I want to prevent people from encountering issues like this: http://www.peercointalk.org/index.php?topic=3369.msg33671#msg33671
Suggestion
As there is already the fifth exchange that offers NuBits trading and especially because more than NBT/USD are supported, I want to suggest putting a disclaimer at Redirecting….
I don’t know whether or not it’s a good idea to differentiate between exchanges with custodians/NuBots and others; that would be the most simple way to create awareness for the exchange rate, though, if not “officially” (in terms of maintaining the peg) supported.
I think it’s necessary to tell people where to find a place that has a guaranteed peg, which would currently be the case for ccedk and bter.
So in short it might be helpful to write something like
Nu¹ buys and sells NuBits always for 1 USD.
Others might buy and sell at different prices.
Take care when dealing with trading pairs other than NBT/USD!
Thank you for the advice. The idea is that, even where NuBot is not operating, arbitrageurs takes care of it to a great extent.
The unfortunate situation that happened on poloniex it is because it was the day 1 of trading so, the volume and the price didn’t had the time to catch up with the peg.
I think this message is exactly what we need. Perhaps USD/NBT should be the only supported pair by shareholder-funded operators, to protect against capital gains and losses. LPC-funded support can operate on any currency and exchange that they propose, of course. Arbitrage is likely to develop to hold the other currency pairs in place, but in the meantime, the warning above seems perfect to me.
Although I wouldn’t use the term “disclaimer”, I do like your proposed text on the Exchanges page. The market peg stability would be a nice additional branding point to reinforce.
I don’t think it’s necessary to specify which exchanges the NuBot is running on. A major website principle I want to adhere to is simplicity. There’s a reason why Bitshares is nervous about their marketing, and it’s because newcomers to their website are overwhelmed with options and data.
Natural arbitrage will take care of the market peg on any exchange or trading pair that we don’t support. If anything, those arbitrage opportunities for traders on NBT/BTC and NBT/PPC are an attractive way to continue to generate trading volume for us in a risk-free way, once the NBT/USD pair is the only one supported by shareholder-funded LPCs. Hopefully LPC’s will be able to move to USD-only trading pairs in the near future.
Thank you for updating https://nubits.com/exchanges.
I think this can help a lot saving people from making bad experiences which they would falsely relate to Nu.
The wording looks great, but I doubt it is up to me alone to decide that
