We are going to see a massive shift from Bitcoin mining to NuShares minting

NuShares
#1

Let’s face it: there is no room for the little guy in Bitcoin mining anymore. Profits are non-existent, and mining pool fees eat up much of what little Bitcoin miners earn.

How many bitcoins you can mine is still directly proportional to how powerful (and expensive) your mining rig is. NuShares, on the other hand, can been minted on any computer, even an obsolete 8 year old Dell OptiPlex like mine. How many NuShares you can mint is directly proportional to how many NuShares you already have in your wallet, so it encourages you to buy more. This creates a positive feedback loop that puts a constant upward pressure on NuShare’s price.

This is in sharp contrast to the price of Bitcoin, which is only a function of the market demand for Bitcoin. So what do I see for the future in my crystal ball? The bottom and middle of the Bitcoin mining community will almost certainly shift to minting NuShares, leaving only the mining whales with multi-million dollar budgets in the BTC mining space. The price and difficulty of Bitcoin will remain relatively flat until there is a major announcement, such as the approval of the Winklevoss Bitcoin ETF. I still believe that once institutional investors get into Bitcoin, the price is going to skyrocket, so I would still leave some of my holdings in Bitcoin, just in case. However, when the price of Bitcoin does skyrocket, I suspect that the price of NuShares will rise along with it.

NuShares are currently number 16 on Coinmarketcap. I think that over the next year, they will rise to number five (replacing Dogecoin).

2 Likes
#2

they can easily replace ltc if not ripple

1 Like
#3

@zoro I hope so!!! I could easily see us making it to number 4, but number 2 would be even better.

#4

It’s still early days for NuBits, but the attitude of the community seems very much to be self-critical & willing to improve the system as quickly and carefully as possible, which seems perfect for this stage.

Once the system is tweaked, tried & tested, huge growth will come from adding new pegged assets (Euro, Yen, Yuan, pound, plus anti-inflation versions of these).

I look forward to seeing how it all develops, but would say that holding NuShares seems riskier than Bitcoin at this stage, because any significant weakness found in NuBits could cause a collapse, whereas Bitcoin has been thoroughly tested For years. I hope there is no weakness that can’t be easily resolved!

3 Likes
#5

all the weaknesses are solvable somehow

#6

I have been curious to whether the introduction of new pegged assets would lead to different shares. For example, if they decided to do a pegged asset against the Euro would there be a need or a possibility of introducing different shares? Or would these new assets generate even more profits for existing NuShare holders?

#7

Just read the white paper :smile:

X products = 1 NuShares chain