Peercoin is a great backbone cryptocurrency.
Oh gosh I can’t contain myself any longer. I have to spill the beans on NuBits.
We’re opening up on several blocks with a chain of sandwich shops. Name will be changing to NuBites on launch day. Surprise is over. I’m so sorry!
Haha, that’s hilarious
Gentleman, and Ladies, we are about to embark upon the most thrilling adventure of our lives
Preparing for Lunch! …er, Launch! :omg:
Resuming countdown!
Minus Ten…
Minus Nine…
Minus Eight… 
How related are the crypto-assets of nubits to Bitshares and their “Market Peg” mechanism? We’ve been wondering over at the Bitshares forum if it will be the same mechanism or something different.
The design of the NuBits project bears no relation to the Bitshares design in any way.
The design of the NuBits project bears no relation to the Bitshares design in any way.[/quote]
Any resembles to Realcoin? Yes, I’m awfully curious here. 
I’m not sure how the Realcoin team expects to avoid regulatory pressure.
From what I gather, their way of doing it is centralized in the sense that they will manipulate available supply to keep the exchange rate the same all of the time. I’m not sure if that’s done automatically or manually. If they do it automatically, they still have to rely on some kind of data feed.
(I’m not that interested in their solution anyway, because they are using the mastercoin thing which implies that there is a hidden cost to all transactions that is financed by the block reward. Who knows what happens if miners decides that the fee should be a little bit higher. Are the economic incentives of the miners aligned with mastercoin? And so on…)
My concern would be how they are going to handle counter-party risk and what they will do to ensure that funds actually exist to ensure the assert’s value.
I really hope NuBits is as ground breaking as you say it is Jordan, because Peercoin supporters really need some good news after this recent price drop.
I heard of Nubit and bought quite some PPC and now it’s a hard time for us. Price halved. >:(
Has any Nubit information come out recently?
The software is beginning to show some degree of stability. About a half dozen team members are testing some scenarios which will play out in production after release, and we are not finding much at all in the way of bugs as we do this. We started a release candidate blockchain a little over a week ago. We expect to decide whether it will be the production chain in the coming weeks.
Prior to release, we need to finish working through these scenarios, we need exchange support, we need to have more people commit additional funds (for generous compensation) to be used on exchanges by our trading bot, and we need to complete the coding of the trading bot. So, if you are interested in helping the NuBits project please respond to these two threads expressing our need for users of the trading bot and exchange support:
For those new to the cryptoassets, we have seen this pattern play out several times starting in 2011: the price and interest levels in cryptoassets experience explosive growth, which inspires entrepreneurs to launch new projects and ventures. Then the price crashes, but the entrepreneurs continue working enthusiastically on their projects. Many of these projects and ventures come to fruition many months later, which causes another round of explosive growth in price and interest levels. I’m confident this pattern has not terminated.
This is all incredibly exciting. Thank you for the update Jordan.
[quote=“Jordan Lee, post:50, topic:2476”]The software is beginning to show some degree of stability. About a half dozen team members are testing some scenarios which will play out in production after release, and we are not finding much at all in the way of bugs as we do this. We started a release candidate blockchain a little over a week ago. We expect to decide whether it will be the production chain in the coming weeks.
Prior to release, we need to finish working through these scenarios, we need exchange support, we need to have more people commit additional funds (for generous compensation) to be used on exchanges by our trading bot, and we need to complete the coding of the trading bot. So, if you are interested in helping the NuBits project please respond to these two threads expressing our need for users of the trading bot and exchange support:
For those new to the cryptoassets, we have seen this pattern play out several times starting in 2011: the price and interest levels in cryptoassets experience explosive growth, which inspires entrepreneurs to launch new projects and ventures. Then the price crashes, but the entrepreneurs continue working enthusiastically on their projects. Many of these projects and ventures come to fruition many months later, which causes another round of explosive growth in price and interest levels. I’m confident this pattern has not terminated.[/quote]
Jordan, thanks for your update! I have no $100,000 so can’t contribute to your test.
The BTC big volatility these days is quite disgusting for many investors, yes we like price goes up but not in this crazy way. Now the crypto currency community is more eager for your project, I believe this will be a breaking news.
Last but not least, you said the nubits project risk is from exchange, I am doubt that those exchanges are honest. Isn’t ridiculous we decentralized currency needs centralized exchange? So I hope Open transaction, the off-chain universal transaction platform will become one of ideal resolutions.
With open transaction, PPC has three benefits:
-
PPC will be suitable for daily micro payment currency.
-
Nubits project cooperates with Open transaction , so exchange risk will be eliminated.
3)Open transaction voting pool( servers from everywhere) could cold-minning, so the users’ large quantity of daily PPC still enforce PPC net security. If OT servers providers give 0.5-1% annual interest to users, this is a win-win situation.
Open transaction’s philosophy is “TRUST NO ONE WITH YOUR MONEY!” So why would we trust exchanges? They are just next MTgox in my opinion.
Excellent！In China, lots of people is leaving crypotocurrencies, but in our Peercoin qq group, numbers are growing. Although they may not invest yet, but they’ve paid their attention.
[quote=“Jordan Lee, post:50, topic:2476”]The software is beginning to show some degree of stability. About a half dozen team members are testing some scenarios which will play out in production after release, and we are not finding much at all in the way of bugs as we do this. We started a release candidate blockchain a little over a week ago. We expect to decide whether it will be the production chain in the coming weeks.
Prior to release, we need to finish working through these scenarios, we need exchange support, we need to have more people commit additional funds (for generous compensation) to be used on exchanges by our trading bot, and we need to complete the coding of the trading bot. So, if you are interested in helping the NuBits project please respond to these two threads expressing our need for users of the trading bot and exchange support:
For those new to the cryptoassets, we have seen this pattern play out several times starting in 2011: the price and interest levels in cryptoassets experience explosive growth, which inspires entrepreneurs to launch new projects and ventures. Then the price crashes, but the entrepreneurs continue working enthusiastically on their projects. Many of these projects and ventures come to fruition many months later, which causes another round of explosive growth in price and interest levels. I’m confident this pattern has not terminated.[/quote]
Jordan, I’ve reposted this information on Reddit, Twitter and Facebook, but can you answer me something? Is the entire NuBits project hinging on finding an exchange to help and people to commit funds? I can only do so much to spread awareness in our own community. The help you need may lie outside of our community though. Are you guys actively searching out people that can help with these things, or are you relying on us (The community) to help you find help?
Are you guys actively searching out people that can help with these things, or are you relying on us (The community) to help you find help?
Jordan Lee can chose to expand on this statement, but to answer your question, we are actively searching for these roles and not relying solely on the Peercoin Community’s network reach.
Let me stress that by no means should this be interpreted as a statement that the Peercoin Community’s help isn’t appreciated and worthwhile to the NuBits project – on the contrary, we appreciate the added distribution channels that are provided by it, and the grassroots support that we’ve seen.
Make sure you try contacting Vault of Satoshi. I believe they were friendly toward us.
The NuBits twitter feed tweets a whole lot about volatility. I’m sure the latest flash crashes on btc-e and general super volatility the last few days, must play right in the hands of NuBits :))