It seems they’re adding it up. Plus OpenLedger should do the same sooner or later.
Interesting move considering the despise Nu had to face from that direction.
I need to admit that I rather like that move, although a paranoid of part of me is asking for the trap…
Their community probably also has people who disagree with what many there have said.
Interaction with BitUSD has always been inevitable and has always floated in my mind. It’s hazardous, but at the same time it’s full of opportunities. They’ve simply made the first move, probably because of their non-existent liquidity.
It’s not necessarily a trap, but a way to capitalize on the stability of Nubits. The first, most direct hazard is that people now have a place to short NBT. I also don’t like the fact that their exchange earns more money from NBT trades than we do.
it is good to have a ripple gateway that issue NBT
I believe this is a logical move and unfortunately they did beat us to it. The BKS exchange should do the same but better and cheaper. There is no space for emotional rivalry, the best exchange system wins. I’m betting on B&C exchange (BKS)
The positive part is that they acknowledge the value of NuBits (and NuShares) on an exchange with this move.
Since we are planing to add BTS on future B&C exchange as BCexchange homepage says…
BitNBT is useless compared to nubits and bitusd, unless you want to go from bitshares to synthetic nbt. Literally the only use. This isn’t shorting nbt, it’s shorting bitshares.
BitNSR sounds fun.
I’ve always been a fan of pegging nbt/bitusd, but only if their community pays some of the LP reward.
This isn’t bitNSR, Nagalim.
This is a centralized competitor to shapeshift. A regular old exchange who has integrated itself into Openledger to make sending payment easier.
If you buy some trade.nsr blocktrades has an equivalent amount of nsr that they’re holding for you, which can be automatically sent to an nsr address when you send them trade.nsr. that way you can buy trade.nsr on the bitshares exchange (currently accessible through openledger).
So it’s an exchange making use of a UIA, not an MPA.
So the benefit is proof of solvency? Or just ease of exchange software programming?
I think it’s just ease of exchange because all you see on the bitshares chain is the IOU that they should be holding. Don’t quote me on that though I’m not sure.
If you send 1.0 TRADE.NBT, we'll send you 0.985 NBT
the fee is too …big
Yes the fees are not the best. Still, would both communities benefit from a NUBITS/bitUSD market?
At least we know we won’t do any liquidity provisioning over there, not unless they pay us. The tricky bit though, is that if Poloniex is short of buy/sell side then people might go there to buy expensive BTC or NBT, which some people over here would somehow rather to sell at a discount. Before B&C is operational we should consider a cost-effective way to conduct off-exchange trading (with higher but tolerable spreads) when liquidity is low on the main exchanges.