[Passed] X-NBT Change


#1

Liquidity Operations began taking steps today to make EU-NBT available and bring it to market. The same motion that mandates we implement EU-NBT mandates implementation of X-NBT, which would naturally be the next target for launch after EU-NBT. I would like to modify that implementation, so it is time to get a passed motion to modify the X-NBT implementation.

Motion hash for Nu client: 82221c3a5d8c8e585dad44bb2604b3f2a3745d91

This motion can be found at GitHub. To verify the RIPEMD-160 hash, the GitHub version should be copied using a RIPEMD-160 calculator like Browserling. Here is the content for convenience:

This motion raised in 2015 directs X-NBT to be implemented as an SDR pegged product:

[Passed] Motion to introduce new NuBits products

The present motion is intended to repurpose X-NBT and supercede portions of the passed motion referenced above that pertain to X-NBT. Other provisions of the passed motion remain in force. Instead of implementing X-NBT as an SDR pegged product, we will reserve the X-NBT symbol for the release of what is intended to be our flagship product in the long term: a currency more stable than major national currencies which also maintains its value better than national currencies. X-NBT is intended to be less volatile than major national currencies, while maintaining its buying power better long term.

Nu has no specific plans to release an SDR pegged product, as it appears there is little demand for such a product at this time.

The precise implementation of the repurposed X-NBT is being researched by Liquidity Operations. Once the process of development within Liquidity Operations is complete, Nu will release and support it. No client update is needed to release X-NBT.


Nu Voting Hot List – Mar, 09 2018
Peg at +5%
Nu Voting Hot List – Mar, 09 2018
Nu Voting Hot List – Mar, 09 2018
#2

Great initiative. I think a SDR-pegged crypto is more a theoretical product than anything else.
I would support that change however I am wondering about the peg. It smells something close to Hayek money.


#3

It is.


#4

Could it be a similar strategy as [Discuss]Motion to make BKC the first Hayek coin in the world!


#5

Glad to see the Hayek money, also I wonder how to determine inflation rate,


#6

My question would be what is Hayek’s view on it?


#7

His solution is a basket of commodity, which commodity to be included is determined by private money issue company, something like board of directors. I think modern enterprise decision mechanism is quite mature in today’s world.

The CEO will closely monitor private money buying power, if a unit of money cannot be equal to the same amount of basket of commodity, he/she will change money circulation by selling/buying private money on the market or shrinking/expanding the short-term loan.

Many money issue companies compete with each other, the most stable money issuers will win.


#8

Voting has begun.

Motion hash for Nu client: 82221c3a5d8c8e585dad44bb2604b3f2a3745d91


[suspended] Cryptog's Nu data feeds - BETA
[suspended] Cryptog's Nu data feeds - BETA
[suspended] Cryptog's Nu data feeds - BETA
#9

This motion has 83% support in the last 100 blocks. Thank you for your support and vote of confidence. @woolly_sammoth and I have already defined the specs of the software that will support XNBT. We are moving quickly.


#10

So no need to add any features to the client itself…
So this peg should only rely on a datafeed that outputs the usd price to peg to…


#11

This passed


#12

What block explorer do use to check that?
https://nu.crypto-daio.co.uk/motions does not mention any motions…


#13

https://nuexplorer.ddns.net/motions


#14

Tks. We used to have the equivalent for BCE, did not we, by the way?


#15

Off-topic: Yes, we did. But no one cared and wanted to pay to keep that one running.