Welcome, newcomer! Ask questions here

[nubition]

just read the the white paper and i get some but there is a lot of “head scratchers” in there.Will take time for me to get up to speed and be able to contribute to the community.I do find the Nu “system” intriguing though

[Nagalim]

This needs to be updated, but it’ll get you farther than the white paper
https://docs.nubits.com/history/

[nubition]

Great guys here thanks

[nubition]

still trying to get my heads round everything and hopefully in months to come can contribute to the nu network in some way.
In times of low liquidity can Nu shares be “created” to sell and buy nubits to boost the liquidity,and would they be sold on an exchange or offered to nubit holders first?

[nubition]

if i ask too many questions just tell me to shut up

[tomjoad]

In times of low liquidity can Nu shares be “created” to sell and buy nubits to boost the liquidity,and would they be sold on an exchange or offered to nubit holders first?

Yes. Creating NuShares to sell, in order to then purchase and burn NuBits, is referred to as “Tier 6” liquidity. It is the last line of defense against NBT losing their peg and is unlikely to be used very often. Tier 6 liquidity allows shareholders to destroy an excess supply of circulating NBT by inflating the supply of NSR.

Source: Finalized evolution of liquidity operations

Tier 6 NSR were privately sold through a BitMessage address during the one occasion that Tier 6 was used. This is because selling NuShares on a public exchange may introduce some risks of being accused of offering securities. In the future, we have a group called the First Liquidity Operations Team (FLOT) that will be deciding how and when to use Tier 6 liquidity, which hopefully is not a common occurrence.

if i ask too many questions

Learning how the NuBits system works can take time. It is considerably more complex than Bitcoin and other cryptoassets. We’re happy to answer questions here.

[nubition]

Two last questions and laugh if you feel them stupid lol
1.Could nubits be terrmed in any way as a contract of difference
2.I asked earlier why Peercoin? the reply was we needed a coin outside the nu system as a dividend.As nubits and Peercoin have the same main Dev could this be construed a conflict of interest?

[tomjoad]

1.Could nubits be terrmed in any way as a contract of difference

I wouldn’t categorize them that way, no. NuBits are not a direct financial derivative of NuShares, unlike the relationship between BitUSD and BitShares. NuBits are digital assets that are issued by NuShareholders, where shareholders attempt to maintain a $1.00 price peg as long as possible.

2.I asked earlier why Peercoin? the reply was we needed a coin outside the nu system as a dividend.As nubits and Peercoin have the same main Dev could this be construed a conflict of interest?

For reference, the FAQ: https://nubits.com/about/faqs#why-are-nushare-dividends-paid-in-peercoin

To answer your question, no, there is no conflict of interest. NuShareholders chose Peercoin as the cryptoasset to distribute dividends in because it is more sustainable than Bitcoin. NuShareholders can vote by motion to use a different external cryptoasset if they wish. Nu and Peercoin are entirely different networks, even though some developers choose to contribute to both projects.

[Sentinelrv]

As nubits and Peercoin have the same main Dev

Nu was founded by Jordan Lee. The proof-of-stake protocol and Peercoin were developed by Sunny King. Many of us including Jordan originally came from the Peercoin community though.

[nubition]

well i say the answers here are very informative and a lot of guys here are really helpful.
Question number 1. still gives me thought though

[nubition]

If I assume right the dividends are created on the blockchain so it does not matter when i export my keys into Peerunity I wont lose out on any divi I am due? or is this wrong?

[CoinGame]

Correct. As long as you held NuShares during the timestamp that was selected for distribution, and had enough NuShares to receive a portion, you can claim them at any time with the peercoin keys that are generated from your Nu wallet.

You can see how they’re distributed here https://www.youtube.com/watch?v=MSVqMjAoYBg

[nubition]

yes i assumed that,have to look in to exporting keys at some time,though I will be a holder of Peercoin

[nubition]

Anyone give me some info on Liquidity pools and how they work and what if any benefit they would be to me.By Christmas I hope to have over a 1000 NBT

[Nagalim]

https://nupool.net/
http://nupond.net/
http://nulagoon.com/
http://cybnate.github.io/index-liquidbits.html

[jay42]

how can I use the Assistant Bot on the forum?
So if I enter the RIPEMD-160 hash of a motion I can not reverse this hash

[huafei]

https://discuss.nubits.com/t/introducing-assistant-bot/?source_topic_id=240

[masterOfDisaster]

You can use the assistant bot to create hashes.
Once they are used in a post, you can find that post using the forum search.
Or did I misunderstand your question?

[chad0074]

I am just starting out in the world of crypto currencies and I am already having issues with the NuBit wallet.

My issue is with park, I am able to open up park but it does not have any values listed etc…days to park my NuBits …I really could use some help

[masterOfDisaster]

Welcome!
Is the blockchain download already complete?