Where are these whales??? If this whale ever does arrive, why would he ever let the price get back to 1$? Wouldn’t he rather let it get to .98 and dump it, to start the process over again??? Have you looked at the order book??? 8 BTC in Nubits to drop the price 1400 sats. There are not very many interested buyers at the moment, and a lot of people freaking out. it would take a quick drop in BTC to bring back the buyers, and even so, they might not be trusting NBT at the moment and more interested in TUSD or tether.
That’s making the assumption people are informed of the details of the nbt situation and have also decided to be bearish on that rather than just seeing discount nbt and thinking they can get an easy double gain from a btc hedge + nbt reversal. Even if nbt drops at $.98 that’s not outside the normal behavior of the coin, the sma line has been around $.98 many times in the past.
I have been doing the same thing you do for months, just trying to make 2.5%/day. I know what you mean. Whales tend to research million dollar decisions from what I know of them, and I am sure they would research why NBT is at .89 before investing, and I am guessing they know the normal range it trades and would certainly be curious to know that the reserves are empty and that is why the normal range has been breached.
This problem stems ultimately from the nature of how the Nubits teams uses their funds. Instead of putting up walls, they should have a bot capitalizing on other orders that are out of line, and immediately turning their funds into tether. Holding their funds in 100+ BTC is death in a bear market for them, and yes, they could keep the peg, but lose millions of dollars, instead of keeping the peg and making millions. Very stupid
Bro, 3 BTC worth of Nubits drops the price 400 sats at the moment, the real carnage is about to begin, hope you got out already and aint holding bags
You essentially describe a malfunctioning product as a steal? Do you know what Nubits is supposed to do? If you see a seemingly brand new BMW being offered to you for $500, would you buy it just in the hopes of selling it at a higher price? I would take my money and run. And in this case it’s even worse because I have to wait for idiots considering the broken peg a steal. I hope you are buying like mad so I can get out asap with a high five figure number on Nubits. You don’t really think I will ever touch this again do you? There is the loss on paper right now in Nubits, and there is another potential loss of Bitcoin rises. And if Bitcoin rises even more people want to get out of Nubits, what then? Are you still buying? Nushars is almost at 1 Satoshi.
Look how many Nushares they bought back for $48,609…
Ghaleon I offer you 68,000 Nubits for 0.96 each. Are you interested?
Is that you at the 9866 satoshis?
I’m going to run my orderbook tracker here. Gimme a few.
Bro, I aint even trying to FUD you, imagine how many people are not trading and holding NBT right now, once everyone realizes what is happening, the order books are going to get wrecked, I would just sell it all now, I am stoked to have gotten 20k out at .92, by time I was done selling it was .90
off to do smt else. I aint trading today at all. Fuck this shit.
Unregulated markets guys. I hope y’all didn’t think there was some oversight or guarantees.
No one is obligated to buy either Nubits or Nushares.
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Its a game! I lost today, but more than some, less than others. Least I lost money I made on trading NBT already
I’m sorry that you lost money. Makes me feel bad that people didn’t know how NuBits functions and the risks involved. Considering it each individual’s personal responsibility to research what they spend money on doesn’t improve their effective situations.
We’ve solved every problem yet (including past recovery of the peg), and I am not going anywhere until zero confidence remains in the future of NuBits.
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Jooize, the fud is only because we’re seeing the free fall of USNBT on bittrex and when I browse the order book, bid order sequences seem horrible. It simply means that if more people will sell NBT, we will see it at $0.70. That would be a sharp loss for us. Please, please do something. Maybe you guys can borrow a limited sum before the need of funds increase.
Anyways, what is your expected time period that you believe will get the NBT fixed? I know that you can’t tell exact timing but based on the history, you could just predict the time for us. Please keep sharing the positive news and help building trust and confidence again. Communication is much important.
I perfectly well know how it functions and the risks involved. I am not upset, I do profit off buying $0.97 NBT and selling $1.00 NBT. Looks like those days are done for awhile. But I really believe if the NBT had kept more money in tether, and not in BTC, these problems could have been avoided, and liquidity would still exist for you, I just wouldn’t be able to make money this way.
It seems to be that this really isnt a stable coin like kowala is. There should not need to be a backing by currency. yYou just need the right algo to keep it stable. From my perspective how is this not just like any other traded coin?
Nubits is an experimental currency and I do respect letting it play out following the conventions of an experiment. I will be watching to see where this leads.
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NBT at 0.79, looks like we all are now fucked up.
I don’t understand why those morons want to get out! it would be normal if there wouldn’t be such stupid traders.