Jordan sees our path to mainstream adoption going through different stages. The first stage is replacing Bitcoin as the primary intermediary currency in the crypto market. We can do that through our price stability and liquidity operations. There is a section in our history where I included quotes from Jordan about this intermediary currency role. You can read it here…
If you were to set up a platform to allow people to buy Nubits for Fiat and sell Nubits for Fiat sticking to the $1 peg and charging a small fee for doing it,would this mess up the Liquidity that Nubits tries to keep
Was not sure so asked lol.
Spoke to Ronny over at Open Ledger if I could do that via his platform and this was his reply
Ronny Boesing
7:45 PM (4 minutes ago)
to me
Nbt and nsr have been integrated into openledger already as opennsr and opennbt. After fork open.nbt etc and idea is really to enable nbt to be traded on platform just as any other one with the advantage that nbt is stable
I would love to arrange for nubits users to get validated and with same account on ccedk as on OL get their account funded directly to opennbt from let’s say usd
Or nbt to open usd for that matter
Not sure we need to wait for the kyc on openledger if we can arrange this already in ccedk
Far from messing anything up, it would actually allow shareholders to allocate more resources to fiat liquidity provision, which is likely to be much less expensive than BTC liquidity provision. This is a benefit for shareholders. We should constantly be striving to increase the number of “on-ramps” to make converting fiat to NBT easier.
These are proxy assets that have no guarantees for redemption on the platform should a negative event occur. They are not real NuBits, nor are they backed by our network in the same way. They are fake NuBits.
B&C Exchange will be a much more desirable decentralized exchange because it will allow direct trading of NuBits with other cryptocurrencies.
I hope in January of 2016 to have a platform set up to allow people to enter and exit NBT via fiat including debit/credit cards. I will try and offer several currencies.
I wont be asking shareholders for funds.
NuShares has had a well pegged USD stablecoin in Nubits for over a year.I dont care who makes a stablecoin that people can trust, be it Makercoin, Nushares or someone else. Thus I would encourage these different projects join their forces if possible.Afaik Tether has centralized reserves so thats a different kind of animal and will probably be better with themselves. BitUSD on the other hand has had lots of trouble keeping their peg stable.
An improvement over nubits in some ways, but it still seems like liquidity shocks are a huge risk. There’s a Nu proposal to deal with it: slow everyone down via capital controls so people have time to settle down and figure out what new rate will create balanced buy/sell liquidity! [Withdrawn] Motion to create a new Tier 6 (Restricted Network Access) of liquidity
Neither utilizes the key insight of bitUSD which is nearly eliminating collateral risk and guaranteeing buy-side liquidity by making individuals leverage their privately owned shares to issue the token. I’d bet that one day Nu will require LPC’s to lock up NSR to get custodian grants, and require them to pay back the nubits to unlock them…
The original stablecoin. Successfully running for 1+ year. Backed by on-chain collateral. Bitshares blockchain. https://bitshares.org/
NuBits: 1 USD
Successfully run for 1+ year. Backed by fiat reserves held by DAO appointed custodians with no legal guarantee. NuShares blockchain. https://nubits.com/
USDT (Tether): 1 USD
Successfully run for 1+ year. Backed by fiat reserves held by centrally appointed, audited custodians with legal guarantee. Requires KYC. BTC blockchain (ETH coming later). https://tether.to/