Hi!
I think I don’t understand your question. Maybe you can help me. But let me try to explain how buying and selling NuBits currently works.
NBT are issued by a custodian vote by the NuShares holders and sold at exchanges by custodians.
You can try to sell 1 bn. NBT for $1 (although it’s unlikely that such a vote issuing 1 bn would pass in near future).
There are no “bag holders” except for those who bought each NBT for 1 USD (likely from a custodian sell wall).
“Dumping” them would harm no one and nothing, because they simply would be sold back for 1 USD (likely to the custodian buy wall).
bitbay is a new coin that is going to be using nubits technology to achieve the goal of pegging 1 billion coins to $1.
they are doing an ico right now, but…it seems like they are getting 252-300 sat per token. their goal is to eventually peg this to $1 per coin…
and the total issue is 1 billion coins.
because they are not pegging from the start, is their goal feasible or is it a scam? i fail to see how someone can peg a 1 billion dollar market cap
because there are bagholderss from the ipo, there is a risk of dumping if the 1 billion // $1 coin peg is done …will nubits technology work in this case?
As I mentioned on /r/NuBits, this is probably a good question to ask the BitBay team directly. My guess is that it will be a complicated set of trading options (like BitShares) that will just be a repackaged exposure to whatever their default unit of value is.