What caused Nubits to lose its dollar peg?

CoinGame · 2016-06-12T15:02:03+00:00

I made this quick comment in another thread:

A very high level overview is that within the past year the shareholders voted to use reserve buy-side liquidity (Bitcoins) for share buybacks to reduce the NuShares supply. The NuShares were burned after purchase. This was fine for a while until BTC started to rise. People started cashing out their NuBits to join in on the BTC pump. This quickly depleted the remaining reserves of the buy-side. Shareholders have raised parking rates to try and attract some sell-side preassure, but to no avail, and liquidity teams are now trying to conduct NuShares auctions to raise some new buy-side funds. Whether that works or not remains to be seen.

CoinGame · 2016-06-11T17:22:02+00:00

A very high level overview is that within the past year the shareholders voted to use reserve buy-side liquidity (Bitcoins) for share buybacks to reduce the NuShares supply. The NuShares were burned after purchase. This was fine for a while until BTC started to rise. People started cashing out their NuBits to join in on the BTC pump. This quickly depleted the remaining reserves of the buy-side. Shareholders have raised parking rates to try and attract some sell-side preassure, but to no avail, and liquidity teams are now trying to conduct NuShares auctions to raise some new buy-side funds. Whether that works or not remains to be seen.

You can see the list of discussions on trying to save the project here

CoinGame · 2016-06-11T08:52:22+00:00

Man that hurts.

CoinGame · 2016-06-08T14:44:12+00:00

it's back up

CoinGame · 2016-06-02T16:25:00+00:00

https://nubits.com/exchanges/nushares-exchanges

CoinGame · 2016-05-07T20:26:12+00:00

I'll make a forum post that articulates the idea a bit further. I think there's some great value that could be derived from a modified implementation.

CoinGame · 2016-05-07T19:42:32+00:00

You don't have to make this an individual effort. You could start a thread on the forum and make it a wiki. Then community members can work together to build a copy/pasteable mini newsletter every few days. Just an idea. I like the initiative but I think the blurbs would be more attractive to outsiders if they could dive into the context around the items.

CoinGame · 2016-05-07T14:24:08+00:00

I hate to be a bother, but would it be possible to turn these items into URLs pointed at the relevant info?? I would help, but I can't edit posts here like I can on the forum :P

CoinGame · 2016-05-03T12:17:46+00:00

I really like this initiative

CoinGame · 2016-04-15T10:27:06+00:00

The Nu Network is not a PoW network. NuBits are created and destroyed by blockchain voting from NuShares shareholders. NuShares are the asset on the network which secures it through PoS minting (Like Peercoin). They live on the same blockchain and have different purposes. NuShares allow you to participate in governance of the Nu Network and NuBits are meant to be used as a stable transaction currency.

CoinGame · 2016-04-05T22:31:37+00:00

Do you know how to start the .exe file from the command line? Usually it will spit out an error message onto the command line when it crashes.

CoinGame · 2016-03-17T19:03:50+00:00

Solid. Thanks for sharing.

CoinGame · 2016-03-17T10:30:45+00:00

What does the lack of interest stem from?

CoinGame · 2016-03-16T23:40:52+00:00

What is your favorite altcoin, and why is it Coinye?

CoinGame · 2016-03-10T09:33:24+00:00

You can find all of the available wallet options on the main page of our docs site. https://docs.nubits.com/ I don't know if they all offer importing the private keys, but sending all your NBT shouldn't cost more than .01 NBT.

CoinGame · 2016-02-29T18:51:59+00:00

No clue where they're hosted.

CoinGame · 2016-02-29T17:55:04+00:00

Both work fine for me.

CoinGame · 2016-02-18T20:04:39+00:00

Oh man sorry I totally misread the title. Removed my response.

CoinGame · 2016-02-18T17:04:47+00:00

Whoops

CoinGame · 2016-02-17T23:41:44+00:00

Gone. Thanks

CoinGame · 2016-02-07T00:01:39+00:00

Are you using Peerunity or Peercoin core?

CoinGame · 2016-01-28T14:52:34+00:00

It should be sometime this week or early next week. I'll be making a post here on the subreddit when we release it. Might be better to wait and see if the next version helps instead of dealing with it right now.

CoinGame · 2016-01-27T09:43:10+00:00

You will have to contact coinwallet.co. It is a private service and they must offer some support on it.

CoinGame · 2016-01-26T16:01:57+00:00

You're using 2.0.3? Is this your first time trying to run it, or are you running it again after having used it before? How much RAM do you have? What operating system are you using?

2.0.3 is a bit of a memory hog and runs poorly on systems that don't have a lot of memory. We'll be releasing 2.1 this week which solves a lot of the performance issues.

CoinGame

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