Unobtanium OTC market

[woolly_sammoth]

This reply from indiamikezulu got posted on the /r/NuBits reddit post about NuPool.

Hi, guys. Reddit is easy for me, so I’ll post here:

a group of us have a successful otc exchange – mostly Unobtanium-Bitcoin. We wonder if Nu-Bits-Uno would be a sweet pair to add.

Now, of course, the gig would be on ‘our turf.’ But if any Nu-Bitters are interested in otc development, we’d like to hear from you.

Mark (IndiaMikeZulu), Australia

I’ve replied to say that I’ve transferred the post to here and asked for details of the exchange. Anyone have any thoughts about this.

Edit : a reply

Hi, Woolly! Was concerned that Reddits NuBits was quiet. But no.

cryptoguild.com

Truth to tell: no, no api. That will make sense when you realise what we’re up to: it’s a ‘core-community’ initiative. The whole point is that we all know and trust each other.

I replied with:

It does sound an interesting idea. Is your thought on adding a NuBit pair an afford to drive liquidity? If so a custodian with some granted NBT would need to trade on your exchange. How would that fit with the trust? A custodian would need to have trust within the Nu community in order to be granted the NuBits, while they would also need trust on cryptoguild in order to trade.
I’ll be interested to see the thoughts around this on the NuBits forum, there are users there with much more economic and trade experience then me.

[desrever]

nice to learn. How can the peg hold without APIs? Price will be set manually for each trade?
Can the price service alone, help somehow?

[masterOfDisaster]

There’s another reply at reddit:

Here’s
the background, Woolly. We started an ‘in-house’ exchange for
Unobtanium folk 10 months ago: my mob, ‘IndiaMikeZulu,’ is keen on
grass-roots crypto-coining.

We mostly trade Uno for Bitcoin, and we have an in-community currency, which I suspect is unique.

Now we’ve moved to new digs, the Guild, which is ‘powered by
Unobtanium,’ but a venue for the trialling of crypto ideas grounded in
stable development and trust – white hats standing their ground openly
against black hats.

For some time we’ve talked of what other trading-pairs we’d try. (Dnotes is interesting to me.)

What would perhaps worth best is, if one of your crowd is
enthusiastic about the idea, that coiner mosies on over, and gets a
’Trusted-Traded Rating.’

Putting troll-ish hype aside, Unobtanium has a bright future. AND it
tends to fluctuate more in price than some coins. What we’re lookin’ for
is an ‘equation’ that will provide mutual benefit to all players: skip
from Uno to NuBits; watch and wait; skip back.

And the cost of the initial NuBits? Dang! I will personally buy and
transfer to your envoy a teaspoon of NuBits to serve as her/his kitty.
Thus, no risk to your community.

You’ll get to love us: we’re real seat-of-the-pants!

Maybe I understand that overly critical, but “skip from Uno to NuBits; watch and wait; skip back.” sounds like substantial hedging risk for liquidity providers…

[woolly_sammoth]

Agreed. I’m not sure it would be beneficial for all parties. Happy to be proved wrong though.

[CoinGame]

This is very strange. They want us to send an envoy to learn their ways and service their community?

[Sentinelrv]

Isn’t Unobtanium from the movie Avatar?

[dysconnect]

I hate to think that I care too much about formalities (although I do have little sense of humor), but he should use his wits to explain things more precisely and effectively rather than on waffling in pirate lingo…