It’s not the typical post, but Egypt is facing a USD reserve shortage so hard that every single day there is a new cash control rule, and it won’t get better any time soon, no one is able to buy any thing online any more and I think that Nu has to think of such situations as an essential use case.
Us-nbt is usd tokenized on the blockchain, a crypto usd so ppl can definitely circumvent gov or bank capital control as nu and fed circuits/biz are different.
The only problem is we don’t have a localNubits.com or Nudroid tellers or any accessibility to Nubits without having to purchase Bitcoins with all it’s volatility issues added to the cryptocurrency newbies worries.
The good thing is, we have Nudroid which will save the users all the public/private address hastle which only make crypto feel more dangerous.
Hope bcex shall host some innovations and remove the hassle
How to Hedge Against Cryptocurrency Volatility Without Using Fiat [Published on Feb 26, 2016] [The Daily Decrypt]
Alexandro details some things about his cryptocurrency trading strategy, particularly the ways in which he uses trading bots somewhat like those available at CryptoTrader.org and the fiat-pegged assets available through Nubits
Now imagine if this can be implemented in Nudroid, beside a Abra tellers concept >> NuDroid as a gateway for "LocalNuBits" platform.
So you open Nudroid and go to “Load wallet” tap and have that two options, either enter an e-currency or searching a local Nubits seller.
And please just view the balance in Usd/cny/… Instead of us-nbt/x-nbt/…
It would be a Killer App.
I believe it should be facilitated by B&C Ex –
Now Nu also has Nubits, which are pegged at the USD. This peg has held very well. When there is additional demand for nubits, they are created and sold and the proceeds go to the Nushareholders.
Originally I thought of Nyanbits as the tie here and didn’t really see any point to them, but we could have a tiny market in them and hold a peg at a dollar just for the heck of it as an experiment to show we can, following the Nu model on a much smaller scale.
But then in thinking about the DiploCoin thread again and the Nu / Ethereum hybrid I’d proposed there ultimately, I realized that such a cross would be a nice innovation to plug into this idea. So imagine that we have a subsidiary coin controlled by Nyanshares where the peg is held to NBT (USD) like it is with Nu, but where that subsidiary chain actually operates as an Ethereum clone. Call this: Nythereumbits.
This would be an improvement over Ethereum in the same way that Nubits is an improvement over Bitcoins: by holding a constant peg, people could actually plan for the expenses of using the network reasonably (of course, this would imply needing to also increase capacity to meet demand or otherwise expenses could still rise, but at least they would not rise merely from increased demand for the computing token). Access to the system could remain cheap while profits accrue, in this particular setup, first to the Nyanshareholders as proceeds for creation of new Nythereumbits, and then the Nyanshareholders could invest/gamble those proceeds into open market purchases of NYAN…possibly on a nyan-themed fork of the B&C Exchange which uses NYAN as the core base-pair and where proceeds are similarly reinvested back into the core NYAN asset? ;-D
10 posts were merged into an existing topic: [Withdrawn] Contract to hire coinaday (AKA Shaun Gosse) as Junior Documentation Developer for the Nu project
13:16 ~ 13:50
NuBits is mentioned at the past tense, curiously : "very cool experience, but because of the psychology of the target market (financial market, financial settlement), it did not appeal to them in spite of the obvious utility.
I believe they did not identity the real cause of our current volume –
Changing the peg on the basis of smart contract and financial settlement, like the DAI, would not change the appeal of any real peg that has utility.
NuBits mentiooned around 44:00