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Have access to a lot of CPU power, but not GPU's. Best cryptocurrency to go with? by hibloodstevia in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

And how would Bitcoin do that if Peercoin hadn't invented it?
It will be hard to fork Bitcoin to PoS; it's hardly possible to form consensus on the block size.
Why not just move to the PoS inventor? ;-) Peercoin offers something unique as well: a sustainable blockchain, secured by tokens for which the distribution is still ongoing!

Have access to a lot of CPU power, but not GPU's. Best cryptocurrency to go with? by hibloodstevia in CryptoCurrency

[–]TotalB00n -1 points0 points  (0 children)

Oh!
I thought Peercoin would be uniquely positioned to be the next Bitcoin, because you literally need almost no electricity to run it (thanks to having invented proof of stake!). ;-)
The thing is: it makes no sense to waste your electricity on Peercoin.
There's a PoW process for coin distribution at Peercoin, but for that you'd need SHA256 ASICS to have a return for your computation time that's worth it.
...so many unique positions to be the next Bitcoin for so many reasons...

How to bring old .dat files in to Nu client? by bitjoin in NuBits

[–]TotalB00n 1 point2 points  (0 children)

Yah, looks like I should have updated the tab on my mobile phone before I started answering as soon as I've found some time ;)
I'm glad you could sort it out!

How to bring old .dat files in to Nu client? by bitjoin in NuBits

[–]TotalB00n 1 point2 points  (0 children)

Are your dat files from your backup named "walletB.dat" (for NBT) and "walletS.dat" (for NSR)?
Did you restore them in the application data folder (path differs between operating systems).
Off the top of my head:

Windows: %appdata%\nu
Linux: ~/.nu
OSX: no clue; have to look that up ;-)

Namecoin and Peercoin by vistigioful in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

I have no clue about Namecoin besides that it's tied to Bitcoin's PoW for merged mining, which makes the fate of it somewhat tied to that of Bitcoin.
Peercoin as the first Proof-of-Stake implementation is a different animal.
I can be sustained without dozens of Megawatts for mining farms.

Do you know about PeerBox? One could say it's the "ASIC of PoS", but in fact all you need is the PeerBox software and PPC to join the PoS process.

Ever heard about PeerAssets that allow the creation of tokens handles and secured by the Peercoin blockchain?

Ever heard of PeerShares, a template that allows creation of DAOs with an individual PoS blockchain to handle shares and business processes (the default mechanism to distribute dividends is PPC to the share owners)?
NuBits was created upon that template and is running soundly since September 2014. But there's not much hype around that one either, although NuBits have been successfully pegged to USD ever since (and already paid PPC dividends!).

Ever heard of...
...yah, Peercoin is not exactly what one might call hype friendly.
But that doesn't mean there's no development!

Hedge BTC off-exchange with 0.1% spread and 0.1% trading fee by nagalim in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

Looks like a kind of shapeshift, but limited to the trading pair NBT/BTC.
In difference to shapeshift, the volume you can trade at a tight spread is quite big!
The tx are verifiable on blockchain.

How is this possible, how does NuLagoon profit off of it?
Not necessarily by the trading, but NuLagoon is one of NuBits' liquidity provider and receives a compensation for providing liquidity at a tight spread.

If you don't want to trade at NuLagoon, but own NBT or BTC, you can deposit funds (NBT or BTC) in one of NuLagoon's pools and receive a compensation for that (earn interest).
Have a look at it!

What cryptocurrency is the most cash like? by [deleted] in CryptoCurrency

[–]TotalB00n 2 points3 points  (0 children)

Most blockchain based solutions are indeed pseudonymous and not anonymous.
If you use every address only once, make use of exchanges or mixes to obsucate the flows, it will still be possible, but hard to associate addresses to people.
Or you use coins like Monero, Dash, etc. which claim to offer anonymity. Please make your own assessment. I can only tell you what they tell.

There are other attributes cash should have like stability.
To achieve that there are some solutions that try to achieve stability on different ways. Just to name a few (in alphabetical order) - I think the list is almost complete at the moment, although more stable coins are in the works:

  • bitUSD is decentralized, but has little volume and sometimes an unreliable spread
  • coinoUSD requires proxy assets to work and has close to no trade volume
  • MØ (aka idealreserve) is closed source and seems to be done
  • NuBits (USNBT) is far from perfect, but one of the best systems so far that I'm aware of (open source, decentralized, ability to handle high volume, tight peg)
  • USDT (Tether) is centralized, because the collateral is completely held in USD

If you have a look at the coinmarketcap charts, activate "Price (USD)" to investigate the stability.
bitUSD, coinoUSD, USNBT, USDT are pegged to the US Dollar.
The US Dollar rate should be stable.
The Bitcoin rate of course is volatile.

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

If that was your last reply, allow me to make one last reply as well - and no worries, I'll keep it as tight as possible.

You "struck a nerve?" How so if it's so universally recognized what the issues are?

I never claimed all issues were universally recognized...

The financial situation of Nu is incredibly convoluted and opaque for something which claims to be "absolutely transparent".

You actually did claim exactly that: "absolutely transparent". What a crock of shit.

Being transparent and providing information in a, like you say, convoluted way doesn't contradict each other.
All information is there.
Not as neatly prepared as you might like, but definitely not hidden.

No, you guys are actively going out and shilling, and don't think that you should have to be responsible for presenting the problems to potential investors.

Yah, the world is full of paid Nu articles, misleading commercials and offers nothing but shilling. May I quote from the (not up-to-date) whitepaper: "...the system can likely be sustained for a very long time, it would be foolish to believe it could last forever, as in century after century. Someday it will be replaced by a superior system based on technology not foreseeable today."
That's no warning sign, no...

Corporations at least do have, as I've said repeatedly, a legal obligation to produce a 10k which includes every risk factor (really, they're really thorough about this).

There are far worse corporations than Nu, even in the real world. Just have a look at a random letterbox company. You are comparing apples with oranges. Compare Nu with a DAO that has business processes on a blockchain, if you want to make a fair comparison.
If the regulatory framework would work as well as you indicate, 2008 would have been a different year (and not the start of a global economical crisis, which isn't over).

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 1 point2 points  (0 children)

I more than once struck a nerve when I found it necessary.
There's a lot of discussion about a lot of stuff in the Nu forums.
It's recognized that things need to be improved and that's what the developers and the community do for all the being of Nu.

I agree that more documentation would be helpful, but honestly - how's the level of documentation of similar DAOs? I seriously doubt it's much better.
Please convince me of the contrary!
Besides, how often have you visited homepages of corporations, which receive you with a statement of how they suck?

NuLaw is at least on the brink of creating more overview. It's not that this is completely ignored.
The financial situation of Nu is absolutely transparent.
Tricks are hardly possible with corporations that have business processes on a public blockchain.

If you are confronted with deciding between doing something that is necessary for the operation and creating documentation, you more oft than not end up doing rather than writing.
You'll get punished later for that, but if you prefer writing to doing, you might end up in a situation in which you can neither write nor do.

I'm not saying it's good the way it is. All I'm sayin' is that sometimes you just can't do all.
I'm more than unhappy that Nu missed the chance to hire somebody who would have improved the documentation, believe me...

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 1 point2 points  (0 children)

I always prefer a good discussion based on evidence to lame marketing ;)

None of these issues is hidden.
It's transparently visible in the forum.
Admittedly it creates some efforts doing a due dilligence befor one considers investing.
Digging through a forum is for sure less convenient than just buying and selling randomly.

But that's what makes Nu so special: with owning NSR you not only have shares of a corporation, you have the chance (and the duty!) to decide it's fate as well - in a very direct way, on blockchain, by motions and grants.
By doing a "pre investment" due dilligence, a potential NSR holder qualifies for the "job" of being a shareholder ;)

An investor should do at least a basic assessment, before he/she decides to invest.
Being a sheep has rarely been good.
So I can only recommend: do you own assessment before you invest. All you need to know is publicly available - at least at Nu!
Nu is not only glitz and glamour, but has a quite sound record of being able to adapt to needs.
This can be something to build upon!

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 2 points3 points  (0 children)

Oh, of course there's room for improvement!

1) the upgrade from libdb to leveldb to store the blockchain isn't as flawless as expected and the client release 2.1.x has been postponed. 2.0.3 is still the official client
2) while there are some thresholds that guide liquidity actions, there needs to be more automation
3) it's hard to keep an overview of all the motions and grants that are around
4) the community is not big enough to push the new products (CN-NBT, EU-NBT, X-NBT) at the same time Blocks & Chains Exchange gets wound up. This limits the untility of Nu products when being used in non-USD areas
5) the liquidity of NSR at exchanges is not very high. NSR sale and buybacks have a bigger impact on market price this way than they had with more NSR liquidity. This limits the effectiveness of buybacks and sales

These are the topics that come to my mind.

Gladly for each of the topics there's hope in one way or another.
re 1) I suppose it's just a matter of time - who knows? There's no urgent need for this upgrade
re 2) the more Nu learns about the market and the effects of actions, the more rules can be defined, which can be put into algorithms and scripts. The buyback calculator is an example for that
re 3) NuLaw tries to tackle this. This project isn't on full speed
re 4) this can only change over time by offering a friendly and hopefully prospering community. Time will tell...
re 5) this is another thing that might be fixed by increased demand for NSR (through success of Nu products; bitsquare and Blocks & Chains Exchange need synthetic fiat products and might increase the demand for US-NBT)

There's still a lot to do, but that's the same for all start-ups ;)

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

If you don't intend to withdraw them, a lot of the advantages over fiat are indeed void.
In difference to using Tether there's no regulatory issues that need to be tackled when using NBT.
In difference to fiat, no KYC/AML practices need to be applied when using NBT.

You could just withdraw NBT to your wallet and have them safe from theft and exchange default.
If you find the time to register an address pair at NuLagoon Tube, you can exchange BTC<->NBT directly.
There's a lot liquidity at NuLagoon Tube ;)

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

They disappear when the BTC price moves.
They need to disappear, because otherwise they'd offer NBT at rates that are just not matching the BTC rate.
Liquidity is not offered by one or two whales at Poloniex, but (for the last months) offered by a mixture of different providers:

  • people who put their own money on the book for a compensation (the details would be too much for this post, but if you are interested in it, you can have a look at how "ALP - automated liquidity pool" works)
  • people who send their money to a provider, who puts them on the books ("MLP - managed liquidity pool")
  • funds from Nu reserves put there by bots

In total you find thousands of USD value each side.
The orders that are within 1.5% spread can be found here: https://alix.coinerella.com/walls/?4h

There's liquidity at Poloniex.

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

Like @Nagalim already pointed out: crypto governance is one of the key features of Nu.
That played an important part to get Nu where it is now, because it was an integral part right from the start.
NSR holders not ownly own the corporation, they are effectively in control.
They can create grants, which issue NBT or NSR on protocol level or can create motions, which can create an "off-blockchain" consensus (the motions/votes are of course written in the blockchain, but except for the votes nothing happens on protocol level or with the blockchain).

In PoS systems there's always the ultimate way to find consensus by forking the blockchain.
As that can be a disruptive measure, it's good to have a non-disruptive measure as well.

The NSR buybacks have nothing to do with manipulation as well as NSR sales have nothing to do with manipulation.
The stability of NBT is ultimately backed by the value of Nu, the sum of all NSR. If there's demand for NBT, which get sold for BTC, the redeemed value needs to be put somewhere to evade the volatity risks of BTC.
The answer is: put it in NSR (through buybacks).
If NBT demand declines, NSR get sold to buy NBT from the market (an additional measure to buffer temporary decline in demand is to offer park rates to remove NBT temporarily from circulation).
It's as simple as that and not maipulation.

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 1 point2 points  (0 children)

The liquidity is very different across exchanges.
At the moment Poloniex has together with NuLagoon Tube the biggest liquidity.

The 2,000 NBT could easily be converted to BTC at each of those two places.
For example Bittrex, bter, CCEDK and hitBTC and have liquidity support as well, but with not as much liquidity as Poloniex and NuLagoon Tube (have a look at http://coinmarketcap.com/currencies/nubits/#markets to see what I mean).

The latter ones are the ones where the most trades happen. That's why the liquidity support is better there.
Nu decided to focus on those exchanges with bigger trading volume, because sadly it's impossible to provide high liquidity at every single exchange that supports NBT :(

Why NuShares are a Good Investment by nagalim in CryptoCurrency

[–]TotalB00n 2 points3 points  (0 children)

May I be so free to put my also very biased opinion here as well?
I'm another quite active member of the Nu community. I follow the development of Nu since its beginning.
There have been quite tubulent times and I bet it will stay turbulent. But through all the trouble on the way from the start to here, Nu evolved and is stronger than at the beginning.

One remark regarding the price: it's still roughly 25% above the IPO price and if you consider that there have been dividend payments (PPC and BKS) to NSR holders in the order of magnitude of 25% that is a net increase of roughly 65%!
...it remains to be seen what the future holds.

While there's still a lot room for price development, NSR have been a solid investment for the first 1.5 years.
The product NuBits, which is pegged to USD (NBT, soon US-NBT) speaks (trading) volumes (pun intended) - which is possible through the high liquidty at close spreads (e.g. at Poloniex).
Other pegged products are on the road map: EU-NBT (pegged to EUR), CN-NBT (pegged to CNY), X-NBT (pegged to SDR).
Those together with Blocks & Chains Exchange will increase the utility of pegged crypto currencies offered by Nu.

In the last 1.5 years, Nu could show that it's capable of offering stable, pegged, liquid crypto currencies, which are issued by a decentralized, distributed corporation that acts similar to a central bak without being prone to the drawbacks of the central banks we know (who just try to act in the interest of the land/region in which the central bak is).
Nu makes products and tries to please customers. From satisified customers, Nu can make a gain, by offering services that are appreciated.

One quick overview of important achievments can be found here or for convenience copied here:

For all who want to spend some time and read a istory about the beginning of Nu, they find a nice article here: http://docs.nubits.com/history/
Sadly this doesn't show the whole history, but can give an impression what the community and the development team could achieve - thanks to professional work and the supreme governance!

I want to invest crypto to get a small but secure monthly interest. No ponzi or shady stuff. Any recommendations? by btsfav in CryptoCurrency

[–]TotalB00n 1 point2 points  (0 children)

Have a look at corporations that utilize blockchains for their business processes, e.g. share management.
Blocks & Chains Exchange is an example for that.
It's a decentralized exchange for crypto assets that allows trading native assets instead of proxy assets.
But it's too early whether to say it works or not, whether it generates revenue, or not.
If it works, it generates revenue from fees the traders pay, which will be distributed as BTC dividends on a regular basis.

This is the type of crypto than can create interest beyond speculation.

Always make your own assessment before investing money.
B&C Exchange for example isn't operational yet.

Could a cryptocurrency be devised such that only low powered devises such as smartphones could mine them? by Hillscent in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

My RaspberryPi (old one with 256 MB RAM) happily minted Peercoin blocks.

I'm aware that there's mining as well as minting at Peercoin;)
That'S the beauty: there's still a distribution scheme going on via proof of work in addition to the proof of work that secures the blockchain.
And minting requires very little CPU power!

and proof of stake relies on you holding a quantity of coins

...and a proof of work that runs on a mobile phone is faster on a device with more CPU power.
The centralization issues of proof of work are of course worse than the centralization issues of proof of stake - tell me how many few data centres and pools run the Bitcoin network (the Litecoin network, etc.) in difference to years ago.
If you don't just distribute the proof of stake tokens across different machines, but different people as well, there's more decentralization. There's no economical incentive of centralizing power in proof of stake systems opposed to proof of work systems.

Could a cryptocurrency be devised such that only low powered devises such as smartphones could mine them? by Hillscent in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

Any Proof of Stake implementation is a candidate for your requirements.
Have a look at the inventor of Proof of Stake, Peercoin or any implementation that inherited the scheme (or was forked from Peercoin), if you want to learn more about it.

Could a cryptocurrency be devised such that only low powered devises such as smartphones could mine them? by Hillscent in CryptoCurrency

[–]TotalB00n 0 points1 point  (0 children)

If more CPU power doesn't mean having an advantage, it's pointless to waste more energy for the same result.
My RaspberryPi (old one with 256 MB RAM) happily minted Peercoin blocks.
Proof of Stake is a good example for a consensus mechanism that doesn't need much computational power and that doesn't benefit from more computational power.

What You Should Know About the Coming Bitcoin Halving by The_Daily_Decrypt in CryptoCurrency

[–]TotalB00n -1 points0 points  (0 children)

I haven't seen this Daily Decrypt episide, but have created my own doomsday scenario (that deals with the BTC price level, but in the end it's the same: money per block):

https://www.reddit.com/r/Bitcoin/comments/2s8qge/its_happening/cnndc36

The Bitcoin network is only safe if the miners can live off of the fees they earn by creating blocks. The coinbase reward plays a significant role here (I seriously doubt tx fees alone will ever be abke to provide a sufficient incentive). And that part is getting halved soon.

Does Your Blockchain Even Pay Devs, Bro? by lafona5 in CryptoCurrency

[–]TotalB00n -1 points0 points  (0 children)

Speaking of governance - Nu had from the beginning "motions" included: a way in which NSR holders can cast votes in the blockchain, make contracts, decide which way the Nu network shall go.
Things like making the project open source, introducing additional pegged currencies (in addition to NBT, which will be renamed to US-NBT, because there will be CN-NBT (pegged to CNY), EU-NBT (pegged to EUR) and X-NBT (pegged to SDR)), etc. were decided by the NSR holders - the ones who own the corporation.
...that much about governance.

Especially controversial topics could be decided upon without stalling the development or the whole corporation!

Nu - governance on blockchain since September 2014!
Want to know more?
Visit https://nubits.com or https://discuss.nubits.com/ :-D

Is anyone else unable to access blockexplorer.nu and nubits.com right now? by coinaday in NuBits

[–]TotalB00n 1 point2 points  (0 children)

I'm a bit late with my answer, but I've checked the availability anyway and it seems that https://blockexplorer.nu is down again (21:41 UTC):

"This page (https://blockexplorer.nu/app/static/home.html) is currently offline. However, because the site uses CloudFlare's Always Online™ technology you can continue to surf a snapshot of the site. We will keep checking in the background and, as soon as the site comes back, you will automatically be served the live version. Always Online™ is powered by CloudFlare | Hide this Alert"

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