NuBits daily trading volume eclipses $1M. Currently ranked in top 3 with Bitcoin and Litecoin

tomjoad 2014-11-14 16:06:17 UTC #1

Fractional reserve security on the Exchanges!

History of the Nu Network (Feedback Please)

Yurizhai 2014-11-14 16:19:08 UTC #2

Quite impressive.

masterOfDisaster 2014-11-14 16:43:45 UTC #3

…and it will be much more once NBT trading pairs are at more exchanges and exchanges with higher volume…
Still I am impressed by the current daily trading volume!

Yurizhai 2014-11-14 16:45:10 UTC #4

Indeed. Imagine if NBT were supported on BTC-E…

masterOfDisaster 2014-11-14 16:49:12 UTC #5

I can’t

tomjoad 2014-11-14 16:59:43 UTC #6

Definitely. The best part of the robust trading volume is that it is correlated with the addition of new users and increased interaction with our brand.

Our website analytics show that 344 new users have visited www.nubits.com in the past day (Nov 13-14). Our overall “bounce rate” (the percentage of users who visit just the front page and then leave) is under 3% right now, with the average user session duration clocking in at about seven minutes. The bounce rate and session rate figures suggest that we have a concept that users find engaging. Very positive signs that we need to continue building on!

Sentinelrv 2014-11-14 17:34:37 UTC #7

btc-e is strange. They added a certain number of alts in the beginning and then just stopped. I mean they still trade Novacoin and Feathercoin, currently #18 and #38 on coinmarketcap. They haven’t even added NXT or other top 10 coins like Doge. I’m not really sure if we can get them to add NuBits if they haven’t even added some of the main ones.

We were able to get them to add the PPC/USD pair by having everyone in the community post to their thread on BitcoinTalk and PM the main account. They finally gave in and added it.

Something else we could do is lean on our current relationship with them. We currently have 3 trading pairs listed on their site, PPC/BTC, PPC/USD and XPM/BTC. If we all try contacting them, in our communication we stress that NuBits and NuShares are from the Peercoin team as well and that they already trust our development team or else they wouldn’t have us listed in the first place. Then talk about the benefits, the high volume, allowing people to trade into NuBits, rather that fiat, which can’t be withdrawn as easily, etc…

Yurizhai 2014-11-14 17:59:19 UTC #8

I’m not sure why they haven’t added more cryptos. I think they want to keep their reputation by adding as little as possible. They could have made a KILLING adding Dogecoin, but they didn’t. I’m not sure if they are trying to retain a professional appearance or what.

I imagine BTC-E as being willing to add NBT, I just think it’s a matter of making sure NBT is ready for BTC-E. With the volume they have there, bots colliding and other issues would not be acceptable.

NBT would get a lot of attention if BTC-E added it as the first new crypto there in over a year.

willy 2014-11-14 18:09:00 UTC #9

Don’t forget that BTC-E has PPC and XPM for a really long time!
My impression was that they kind of like what sunny does. NBT helps PPC… so I’m optimistic.

onthefrynge 2014-11-14 19:34:59 UTC #10

I just opened a ticket with BTC-e about this. Can’t hurt.

Sentinelrv 2014-11-15 00:09:43 UTC #11

Here is a question I don’t know the answer to…

tomjoad 2014-11-15 00:49:47 UTC #12

I provided an answer here http://www.reddit.com/r/peercoin/comments/2max96/nubits_daily_trading_volume_eclipses_1_million/cm2uust

Luckily, a member of his bitsharestalk community already typed up an answer for me on their forum about a month ago. Just had to link to it.

Sabreiib 2014-11-15 08:17:43 UTC #13

Nubits is a money printing game claiming to be following Heyek’s theory of “Denationalization of money”.

Really? I hope we Nu fans are all Hayek’s followers, but actually NOT all of us. Anyway, I’m happy even only some of us trust Hayek’s theory.

I wrote an article in Chinese medium that Nu complys with Hayek’s cocurrent theory, although our system is not 100% pure Hayek.

http://www.8btc.com/nubits
http://www.btc38.com/altcoin/ppc/4073.html

My 2 wishes:

Short-term lend smart contract to contol NBT circulation
Make a new unit anti-inflation. How about calling it Hayek coin? HYK? LOL

If we complish these two goals, we are 100% pure Hayek which means our system is backed by one of the greatest economics theory: Austrian Economic School, the Ideological base of free competition. In front of such great theory, Satoshi is just an technician who replace “watermarks”/“Securicar” with blockchain. What’s the significance of Satoshi’s invention in human’s economics theory? To make Hayek’s dream come ture. That’s all.

Has Cryptos believers set up a new school of econimics? No. Will mainstream econimists accept BTC? I guess never. Cryptos is from IT industry and has little contribution to economics theory at all.

Sabreiib 2014-11-15 08:47:12 UTC #14

I have totally different difinition of asset and currency.

All the thundreds of cryptocoins including bitcoin is just asset which has NO qualification being a currency at all.

Only NBT and bitusd may become currencies. Just two out of 500 blockchain based cryptos.

Sentinelrv 2014-11-15 13:41:39 UTC #15

I know you’re lumping Peercoin in there, but just remember that it was never designed to be a currency. Sunny King had a different role in mind when he made it.

Sabreiib 2014-11-15 14:41:45 UTC #16

IMO, Peercoin is a good asset but never be a good currency, sharing the same fate with BTC.