NuXchange: A New Cryto-Currency Exchange for NuBits, NuShares, Peercoin, and Unobtanium

Hi all!

I just wanted to share a quick set of ideas.

  • Start a NuXchange where the price of NuBits is pegged to the dollar automatically. So if a seller wants to sell 100 NuBits that he or she bought for $1, they would put in the sell price as $1.05. As the Nubit/Bitcoin exchange rate fluctuated throughout the day, the exchange’s algorithm would automatically update the Bitcoin price, but the sell price would stay locked at $1.05. This would save the seller a lot of work. They would not have to go in and relist their NuBits on every major change in the Bitcoin price.
  • NuXchange would be the ONLY exchange where people could buy NuShares.
  • NuXchange would only exchange coins that are relatively immune to wild price fluctuations. Off of the top of my head, I would see these as the coins being sold there: 1.) Unobtanium (very resistant to price fluctuations because of its rarity: there will only be 250,000 minted), Peercoin (because of its close relationship with NuBits), NuShares (as previously discussed), and NuBits. That would be it. A very simple exchange with only a few coins, perhaps similar to BTC-E.
  • I presented this idea before elsewhere: Make interest on parked NuBits payable in NuShares ONLY for very long term parks (e.g. > 1 year). This rewards people more who have an incredible amount of discipline (the exact opposite of how it works in most other sectors). Shorter term park interest would still be paid in NuBits.

Sounds very centralized if the exchange is centrally managed.

There is nothing stopping anyone from creating such an exchange. But as far as the Nu network would be concerned , it’s another exchange rather than the only exchange. If it’s features are attractive enough people will flock to it.

Regarding having only one exchange that can sell nushares, that’s simply cannot be done … As long as an exchange has access to the client and they have some shares they can sell it. That’s the beauty of cryptos! No body can limit the medium of exchange by enforcing a third party. Any two people that have the client can transact in it.

Good point. At this point, I would love to see at least one exchange offering NuShares so that I could buy some!

I would still like to see NuBits om other exhanges too, but I think that it would be convenient to have at least one where NuBits can be bought and sold denominated in USD instead of in BTC. I just wish that NuShares were available for sale on at least one exchange.