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 –
by @CoinaDay
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10 posts were merged into an existing topic: [Withdrawn] Contract to hire coinaday (AKA Shaun Gosse) as Junior Documentation Developer for the Nu project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
I don’t think it’s volatility that is the reason why Microsoft pulled Bitcoin from the Windows store. It’s most likely due to low use like somebody said in the comments. It seems that the overwhelming majority of crypto holders are just in it to get rich. They aren’t holding crypto so they can actually use it for something. They just want it to go up in value, so they can sell it for more than they bought it for. That’s a damaging mindset for the crypto community to have and it’s probably why NuBits have been slow to take off. We need to find a way to change this prevailing attitude. People need to instead be focused on providing a useful service to people, ultimately in exchange for profit like Peershares based DAOs/DACs are setup to do.
Thinking again about the lack of people who currently use crypto to buy things, I guess that’s why it’s a smart idea for us to first target traders with B&C Exchange. Jordan’s vision of first working to replace Bitcoin as the intermediary currency for crypto trading is spot on. If trading is what the majority of people use crypto for at the moment, then we first have to tackle that.
Maybe if we supplant Bitcoin as the intermediary trading currency, people will then begin to change their mindset about what they can use crypto like NuBits for. By then we will have proved our system works even under heavy use, leading to trust and acceptance by more people outside of crypto trading.