The way I see it, NuBits has two primary advantages over any other alt
Point #2 is where I think there could be innovation. In the EU people still have to use a conversion rate to convert NuBits to their local price. If someone were to setup a new blockchain using the “Nu model” but for other major world currencies, I could see that as highly beneficial. Perhaps this is exactly what will happen once the source gets released.
Good news - the Nu code already has the ability to easily add new currencies to the same blockchain. No new NuShares or blockchains necessarily need to be created.
The main thing holding back the development of additional currencies right now is the Nu team’s focus on mastering USD operations first. If an outside group simply created a clone of Nu and called it “X-Euro”, the peg would likely crash very quickly if they didn’t understand our full design (or if they did not have multiple people in place at launch to handle custodial duties and coding). The Nu design is elegant but much trickier to coordinate than simply launching a digital asset like a Bitcoin fork.
The concept of NuEuro and NuYuan has been discussed in a few threads, including this one: Discussion: Adding new products to the Nu network
Development can begin on those new pegged currencies whenever a shareholder motion is passed to do so. I think many of us prefer seeing our core product (NuBits) developed further before we start expanding too quickly. BitShares is learning the hard way that ambitious product line expansion often leads to nothing being completed.
This seems rational
LOLOLOL I had such high hopes for bitshares but yeah… What really killed it for me was when they hired the “bitshares girls” that was such a huge facepalm for me.
What is exactly the current state of our main competitor, bitshares, I am curious ?
They are still around and haven’t been hit by the exchange defaults as far as I’m aware as they have their own internal exchange where still most of the trades by far are happening for BitUSD.
that is what is needed for NU too - its own internal exchange
Would the liquidity pool provide that?
Not sure I understand that, a liquidity pool is different from an exchange. A liquidity pool could make an exchange more attractive. But you can’t make an exchange out of a liquidity pool.
BTW On-topic I think it is just a matter of time that Euro and US dollar reach par, so NuEU might not be needed for a while.
What makes you say this?
“The ECB’s chief has pledged to do “whatever it takes” to boost Europe’s flagging economy.”
And they are busy printing money now, hence the Euro jumped from a 1.30 to a 1.08 rate against the US dollar in 3 months.
I wonder once we release NuEuro we can force the Dollar to equal a Euro by setting up massive buy/sell walls lol
You would be up to the European central bank, even the Swiss lost that battle. We can still dream though…
There might be a need for NuJPY in the near future. I am in contact with an exchange owner here in Japan.
When do you think NuBits will be mature enough to hold it’s own while other Nu currencies are added? How concerned should we be about possible competitors getting first mover advantage? While bitshares may have dropped the ball, Nu I think is much more organized and could possibly handle adding a few more currencies. Having the network support 2 or 3 stable pegs simultaneously could boost confidence in the networks design as well. As usual, finding early liquidity for those pegs seems to be the hardest part.
Where do you see that? I am curious.
I’ve been following bitshares for about the same as nubits. Their constant restructuring and pr nightmares made a lot of people confused. Nubits has been very clear about what it does and how it does it. Nubits also responded against criticism very well and even created solutions to solve them. I don’t fel like bitshares has done this nearly as well.
Also, BitUSD on shapeshift is “unavailable” while nubits is doing just fine…
But bitUSD does have a decentralized exchange which I wish nubits had.