Wild Imagination of Nu in future

These days you hardcore developer guys are very busy on Nu releasing, and we are excited by your hard work. But all I can do is just sitting there dreaming the future of our system. Plz correct me if I am wrong.

1)Get rid of FIAT account

We are developing a new way to peg 1$, it’s to peg 1$ of BTC, really awesome. So we can cooperate with all exchangers where USD is not default FIAT unit especially in China. And custodians can make themselves more anonymous without FIAT account.

2)Get rid of exchanger risk

Decentralized exchange is very difficult, from a technical perspecive. But with Open Transaction, we may try to build up exchangers of our own. Typically a voting pool is consist of dozens of servers, for example , 12 Nushare holder’s computers(or rent cloud server) forms a voting pool. Why Nushare is needed is that we wanna assure everyone in this pool shares common good. Every server can cold-mint Nushare to maintain the blockchain security, and get 2% annual profit. In this voting pool, we provide various crypto exchange, and charge fee (eg 0.1%), we could also mint PPC with users PPC deposite and return 1% interest to them. The voting pool’s profit is arranged on the Nushare basis. Nushare holders are free to form a group and vote for accept a new comer.

Most important is that there maybe thousands of voting pool in the world, each consist of 12-15 servers from Nushare holders. In this way, the decentralized exchange may be achieved.

Futhermore, this is beyond exchanger, it’s a virtual bank, and holders(custodians) can issue Nubits according to their Nushare quantity. we can run loan business by using Nushare as guaranty.

This is also beyond a bank, it’s really an universal transaction platform where people can even trade clothes, books etc. Our advantage is the stable currency:Nubits, and the common interest among Nushare holders. We can call this “Nu pool”.

We could also intergrate Bitmessage into our wallet by charging fee on it to prevent spams and make profit for Nu system.

as Ben said

[quote]Yes, it’s open source (github/pybitmessage) and we could conceivably fork it and adapt it to work on our network. If I had my choice, it would include these modifications:
•it would be extended to use NuBits as the base currency,
•would only use the Tor network to transfer information through the block chain (or another proxy of the user’s choice, but Tor by default)
•would do a better job of handling group messages (at least showing me, on my own client, who I sent a message to)
•would do a far better job of displaying the status of the network and where you were with synching
•potentially do away with the “broadcast” message concept, because that seems to be a major problem with the current BM infrastructure.

3)Get rid of infaltion/deflation with new currency unit.

Hayek pointed only those stable (inflation resistent) currencies will survive in a free market. So we may try a new unit, for instance, call it “Hayek”.

One Hayek pegged to one USD from the begining, and on week or month basis, Nushare holders voting for inflation rate and control price by LPC. The free market will tell us which unit(Nubits or Hayek) is more welcomed or both are popular.

This is a fantastic! It implies that the value of all other crypto currencies, should have the same price across all exchanges. Any difference in price should reflect things like risk of trading at that particular exchange, its liquidity and things like that. Instead of whether they accept fiat or not. Arbitrage bots make sure that everywhere NBT are being traded, other assets on the same exchange will be harmonized with the rest of the exchanges. Those exchanges that do offer fiat, I think will not be pricing the coins differently, because the fiat vs NBT ratio will also be exploited by arbitrage bots.

NBT working like that would be good for the crypto scene as a whole. Exchanges not offering fiat would be wise to accept NBT. For sure there is a whole lot of growth potential here.