Right but you need to burn which would be done at specific times
My point is that nubits price is not a simple, known mathematical function of nushare price, as it seems we can find with bitshare/bitusd, imho, at least right now.
But maybe in the future it could change and if it is in the interest of Nu, i would support personaly such a change.
This is only my interpretation.
I don’t support dividends either, if the funding source of them is NuBit inflation.
Wait but what exactly should happen to the revenue if NBT now becomes the world wide number 1 currency? I mean someone has to sell each one of these NBT. So in the case of a successful adoption, there is an urgent need to inflate NBT. Somehow this revenue needs to flow back to the shareholders.
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You are right. Perhaps I am focusing more on supporting the peg than restricting the peg. In the event there aren’t any NuBits for sale, it is indeed a call for some hefty inflation and the profits ought to be returned to us somehow.
It would be the same situation as we are in right now, just the opposite direction: The sell side liquidity would be almost wiped out and the buy side liquidity would be extremely large.
Now as a merchant this is surely not nice, because I am offering my goods for 1 NBT = 1 USD and my customers need to pay 1.10 USD or something to get NBT because the peg is broken in this direction.
So while it feels better for shareholders, the emergency to act would be the same.
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I believe that this is why this motion passed quickly and we are sitting on a strategic reserve so we never find ourselves in the situation you are depicting, with no NBT on sell
Price now at 0.001992 with $ 2,168 vol (24)
Huge dump - how is that possible?
I see $0.002166.
One reason is probably because B&C didn’t get funded. Hopefully the second attempt will be different.
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Simple. Lack of interest at Nu Network. Nushares holders cutting losses. Nu Network leaders should start campaigning for more awareness and implement use cases. Simple case of an innovative product that no one wants to buy.
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My opinion is, but I have no idea how Nu works, or I do not understand … The Network leaders do not understand the relationship between the dollar and Nubits. It looks to me like this. You want a demand of Nubits, even if the dollar falls. That’s as far as I understand, at the expense of Nushares.
Actually Nushares should be something like government bonds and Nubits something like the dollar. This only works when the dollar rises.
Now the dollar falls slightly. And now Nubits is something like government bonds (you get interest) and Nushares behave like the dollar (no dividend for inflation)
That’s what I do not understand. The NuNetwork can not function in a highly fluctuating dollar. One would have to take a basket of currencies that are stable.
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NBT is only as stable as USD, you are right. However, USD is vastly more stable than BTC and is still being used as the world standard.
Think of it in market caps. When the dollar falls, the market cap for NBT stays the same because it is in units of $1. NSR, however, is mostly recorded in terms of NSR/BTC, so it will most likely go up if the dollar falls. This will increase the NSR marketcap (also in units of $1) and allow us to print more NBT, thereby increasing the NBT market cap to match USD inflation. This works as long as USD doesn’t move too quickly.
We can always switch our peg to a different fiat if USD is no longer the world standard. We could also switch to basket of goods. However, for the moment, NBT pegged to USD should work fine.
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It’s important to note that Nu is still outperforming almost every competitor that was released after us. Of the 21 projects ahead of NuShares in market cap today, only two were released after Nu: Banxshares (which only released 37% of shares to the public, and are only traded on an internal exchange that self-reports numbers), and PayCoin (which is an outright scam).
NuShares have never traded in a bull market in its entire history. It’s tough to be critical of the performance of NuShares when by all accounts it has out-paced the market. Peercoin has dropped 90% from last summer for example. The past year and a half has seen a severe contraction in enthusiasm for cryptocurrencies from the heights of January 2014. As long as we’re improving our products (NuBits) though, I’m optimistic that enthusiasm will begin to grow once more and the price of NSR will reflect that.
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Uses cases are already in the making.
The shapeshift plugin of the Android wallet (release 2 of version 2.0) allows paying with NBT everywhere a payment for which shapeshift offers conversion is supported.
The MasterCard that allows access to crypto funds is another nice tool.
These are very basic use cases that allow paying with NBT at places that don’t support NBT directly (yet), while having the advantages of a stable, pegged crypto currency.
Other use cases will follow into the real world. There are a lot more ideas.
But first the liquidity providing needs to be brought to a higher level.
And that is in the making as well.
With NuLagoon and the mushrooming TLLPs there are very sophisticated approaches to provide liquidity available.
Try to keep some hope.
It’s normal that a young business needs to invest before it’s making revenue.
Nu might still fail. But I’m confident that Nu will be here for some more time.
Nu survived February this year and the default of its main exchanges.
The basics are solid.
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Huge dump. NuShares NuShares $ 1,108,105 $ 0.001360 814,675,606 NSR * $ 2,787 -32.86 %
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When bitcoin price goes up people tend to sell other assets to buy BTC to catch some upward movement.
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Is a good observer thread as well.
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Price now around $ 0.001600/NSR on ccmc - ouch!
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If we buy back everything we sold a while ago we could probably make >10% on the hedge.
Perhaps I can help support NSR price - When did you sell how many shares at which spot price on which market for which purpose?