Let’s play a guessing game. I am not sure the Jordan likes our doing this in public at this point. So I wrote down my guess of the nature of nubits and why such team members are needed, signed it with my ID, and hashed the guess text
This is the ourput 86dcf8ee866dca8c34284048a0f6de3ede274f46e4d9f4fe88a61b6ad79ae7c3.
When nubits is public I will reveal the guess. Everyone can check if the revealed contents is what I hashed today.
Anyone else wants to play? ;D[/quote]
quoted 
very interested…
I would like to know more. Most likely I will want to participate to help your team and hopefully to learn something new also. When you say my “principle risk will be exchange default” I don’t really understand what you mean, could you elaborate on this risk a bit more please? Also, is there a minimum amount of PPC needed to participate?
Please, feel free to PM me if you are more comfortable with communicating privately. All information that you send me privately and that I have not heard elsewhere publicly, I will hold as secret and in confidence with you.[/quote]
If the goal of Nubits is to limit price volatility then I do not wish to participate.
If limiting price volatility is Nubits goal then do not send me any confidential information.
Thank You,
NewMoneyEra
[quote=“NewMoneyEra, post:22, topic:2715”]If the goal of Nubits is to limit price volatility then I do not wish to participate.
If limiting price volatility is Nubits goal then do not send me any confidential information.
Thank You,
NewMoneyEra[/quote]
Haven’t you been following the official Twitter page?
https://twitter.com/OfficialNuBits
Is there something wrong with this goal in your opinion?
The very first article that NuBits linked (and is still on their website) does not discuss the elimination of volatility, but rather the separation of the currency/spending element from the asset/investment element - so it is separation of volatility rather than its elimination - but, of course, all is yet to be revealed
In the meantime, I am interested to hear more of NME’s viewpoint
I would like to know more. Most likely I will want to participate to help your team and hopefully to learn something new also. When you say my “principle risk will be exchange default” I don’t really understand what you mean, could you elaborate on this risk a bit more please? Also, is there a minimum amount of PPC needed to participate?
Please, feel free to PM me if you are more comfortable with communicating privately. All information that you send me privately and that I have not heard elsewhere publicly, I will hold as secret and in confidence with you.[/quote]
If the goal of Nubits is to limit price volatility then I do not wish to participate.
If limiting price volatility is Nubits goal then do not send me any confidential information.
Thank You,
NewMoneyEra[/quote]
I think you’re jumping the gun here. They have a whole system in the works, I’d wait till you get a peek at it before you start judging it too harshly.
I’m not sure about manipulating or stabilising the markets either, it would surprise me if that was the NuBits objective.
What RobertLloyd says would make way more sense. To achieve that you will need liquidity (for insurance/securities).
[quote=“RobertLloyd, post:24, topic:2715”]The very first article that NuBits linked (and is still on their website) does not discuss the elimination of volatility, but rather the separation of the currency/spending element from the asset/investment element - so it is separation of volatility rather than its elimination - but, of course, all is yet to be revealed
In the meantime, I am interested to hear more of NME’s viewpoint[/quote]
Are you talking about this? The tweet is talking about this section of the article…
"..........Here’s the thing. These critics are right, bitcoin is failing as a currency today.That’s why I believe the next major bitcoin innovation won’t be a wallet app or a merchant tool, but rather a product or method that effectively separates bitcoin, the currency, from bitcoin, the speculative investment.
[size=14pt]The Next Big Thing[/size]
Sometime, hopefully soon, some person or company is going to figure out how to securitize the holding risks of bitcoin and guarantee the underlying purchasing power of consumer and merchant bitcoin deposits.
I’m not talking about ‘instant conversion’ tools offered by companies like BitPay and Coinbase, but rather products that allow depositors to safely and securely hold bitcoins that won’t fluctuate wildly in price. Ideally, depositors wouldn’t even know it, but they would be using this innovation to offload price volatility onto professional speculators with a higher risk tolerance.
In the process, bitcoin could begin acting like a currency for those who wish to use it as a unit of account for payments, while still preserving its properties as a high-beta investment. It’s a simple idea with a complex solution and a potentially lucrative payout.
Someone is bound to crack the problem eventually."
I didn’t receive an answer, so I’m quoting myself. It seems to me that an exchange does not need any source of actual funds to make this happen.
[quote=“Chronos, post:14, topic:2715”][ul][li]The money never leaves the exchange.[/li]
[li]The money has no risk of capital loss through trading.[/li][/ul]
If these are both true, then the exchange could just “create” the money on their books. Why must it exist, if it cannot be withdrawn or lost?[/quote]
[quote=“pillow, post:18, topic:2715”]My favorite game on Christmas, is guessing what’s inside the packages before unwrapping them. My own or others, it doesn’t matter. Let’s play the game with NuBits 
What do we know? The goal is to limit volatility. Exchange bots, has something to do with it. And they need money, lot’s of money.
Volatility is when price goes up or down. An exchange is where you can deposit, buy, sell and withdraw currencies. Bots trading operates through the API and can poll some data and also buy and sell currencies, etc. Since Jordan Lee says that coins will not leave clients accounts, we know that the bots will not withdraw any money. A qualified guess, is that bots will not deposit coins either. I think the bots will use the money to buy and sell coins.
Volatility is when price goes up or down and since reducing volatility is about pushing down price when it goes up, and push it up when it goes down, I guess that has to do something with the bots buying and selling. Perhaps if price goes up, bots could sell. If price goes down, bots could buy. This would create a trading channel in which the price bounces around.
The bots could also communicate with each other. Even if they don’t withdraw or deposit any coins, they could send messages to each other on the back-end (the server running the bots), saying things like: “Hey, I’m gonna buy at X and sell at X and what are you gonna do?” And the other bots will be like, “Hey, cool, then maybe I’ll buy this and I’ll buy that.” By doings so, a bot could be selling coins to another bot, knowing that it is the other bot on the other side. This could be used to “paint the ticker tape” (manipulating price into certain patterns).
The bots, together, would have to have a great deal of the market share, to be able to manipulate the market in such a fashion. Is this why Jordan Lee asks for wealthy participation?
Most likely I’m totally wrong about this, because this kind of “shared stabilization fund” could be exploitable and other bots front running the operations which means that there would be capital losses, which the NuBits team says is impossible.
Well, enough of me speculating. I honestly have no clue what NuBits will do, but it’s so exciting I couldn’t help playing a game of “whats in the box” :-D[/quote]
[size=24pt]shared stabilization fund[/size]
Pillow, your this phrase reminded me of sth. I join the game of “what’s in the box” .
I had been in T+D gold market(just like future market) for several years, of course, I am a small fish. Leverage Ratio provided by banks is 10:1, that means I can buy some gold worth of $100 while I only have $10.
Assume that I’v spend all of my $10 to buy $100 gold, if price go up, I earn 10X times profit and if price down to 90% my account burned and all my $10 lost!
There are several big funds in gold market, they are whales, their money coming from small investors but operated by bloody professional speculators, those operators are dreadful for us. After several loses I found that those whales are unbeatable. Gold market belongs to them and not to small fishes. So simply I quit that game.
But what if those whales become not greedy any more? what if those whales wanna do sth. good?
Assume that there are 24 million PPC in the world, and the price is 1$. Everything is crystal clear!
I have 1 million dollars on BTC-E account, and that platform gives me 25 times Leverage Ratio which means I can buy PPCs worth of 25millions, i.e., I can buy ALL THE PPC IN THE WORLD at the price 1$ each.
Now, PPC price drops to 0.9$ and I am angry, I wanna stop it so I begin to buy at 0.9$, my order is 24millions PPC, I shout: “You coward sellers, come here and let me beat you badly!” I will never lose because they are doomed running out of ammunition. I can buy all the PPC in the world and maintain the price steady at 0.9$ and easily fight back to lift price back to 1$. ;D Good profit for me!
I am the dominate whale in PPC ocean, I am the lord, and I wanna do Sth. good to maintain price. “I” am the “shared stabilization fund” whose money is from lots and lots of smaller investors and my good will is hard coded in the open source software.
Is this feasible？ If so, “I” can guarantee PPC price volatility within 2% every day，and that means PPC is the first steady cryptocurrecny in the world!
Somebody will say “oh my PPC never gives me huge profit any more, that’s bad news”. But if you have a calculator you’ll know if PPC price increase 2% every day, after one year, it’s 1377 times…
If this is a way to do it, I guess this would be the time to do it, because its much cheaper to do it now. As the price goes up, so does the value of the fund and thus this fund could afford continued operation/manipulation/stabilization/control.
If this is a way to do it, I guess this would be the time to do it, because its much cheaper to do it now. As the price goes up, so does the value of the fund and thus this fund could afford continued operation/manipulation/stabilization/control.[/quote]
The example I gave is a extreme one. In fact in a financial market if you control 10% capital or chip, you can influence the price obviously. You may not win every time, but win most of time. Sometimes you lose money but usually you get good profit.
This “shared stabilization fund”, could be a DAC/DAO whose purpose is just to make PPC price steady. Investors buy Peershare of this DAC, and get good profit. Its opponent are those speculators who usually make PPC price fluctuate violently. If my guess is right, we small fishes get united together, we become the biggest whale in the PPC ocean, let’s eat those speculators ----the smaller whales. >:D
hmm I have to say I am skeptical of people who don’t say straight up what they are doing, but give a long advert on how good it will be / revolutionary. Then ask for serious money. I want to be wrong.
Did you read this part?
If I understand this correctly, they’re not asking to be given funds. The person that owns the funds will maintain full control of them.
I think the Nubits team have acted with the utmost probity. They have not asked for money, and have answered all questions in a prompt and straightforward manner
The only “advertising” has been confined to the Peercoin community - which is at most a few dozen active posters and perhaps several hundred readers
Did you read this part?
If I understand this correctly, they’re not asking to be given funds. The person that owns the funds will maintain full control of them.[/quote]
Hang on then let me try and get this straight.
You deposit your peercoins into an exchange, Then run their bot to trade your coins
…soooo, how will that just not make another market player and how do you know “they” will be running the same bot as “you”
[quote=“David”]We aren’t revealing anything about our design until release, so I suppose you’ll just have to trust that a team of long-time Peercoin community members has the best interests of Peercoin at heart.
However, I will re-iterate what Jordan said in this thread:
Top 100 richest addresses own 60% PPC of all 22millions. Don’t forget it’s less than 100 owners. People seldom share addresses, isn’t it?
I guess the PPC developers and early adopters hold large quantity, perhaps millions of PPC. We know PPC mining difficulty was quite low and nearly 10m produced within relative short time.
Fortunately, most of PPC whales are those who aim high even for replace BTC in future rather than pump and dump. As you said"long time interest for PPC".
I guess quite some whales will support nubits with their fiat or not willing fight against nubits in the markets.
The nubits funds is sth like DAC fonds, decentralized autonomous company. With lots of small investors joining Nubits, it will become a “Wall Street financial giant” in PPC world. However, this time the giant is not greedy or bad anymore, it’s kind to small investors who wanna PPC price stable.
Nubits software determine bots trade behavior and calculate on Nubits capital/chip data and opponents information.
Who are nubits opponents? The smaller whales who make PPC price unstable and those tiny fishes often get panic when price fluctuate violently.
If nubits succeed, PPC community could get these benefits
1)establish a reputation of “the world first stable crypto”. That means a lot. Money is essentially credit. If people believe PPC is stable, they believe PPC is real currency and join us. For example, The international remitters and merchant would love PPC for its low volatility and dislike BTC. Maybe in future, PPC replace BTC as a base coin, we"ll see BTC/PPC, doge/PPC, LTC/PPC, BC/PPC… Because no other altcoin is stable with fiat.
2)to show PPC developers are not pump&dump scammers. This good reputation attracts more software talents.
3)protect investors from bear market just like now. Perhaps the Bears are running out of ammunition now but we bulls dare not fight back because we are not united today. With nubits, we PPC believers/holders act together and easily beat our opponents.
I like your ambition, nubits/PPC developers! I 'll join you with my PPC and fiat. To keep PPC price stable doesn’t mean it couldn’t reach 10$ one year later. So hurry up, I can’t wait. Let’s beat BTC with low volatility.
I have to point out that I’ve never heard them say this will only be used to keep Peercoin stable. It may be used for any crypto, including Bitcoin. What we do know however is that dividends will be paid out in Peercoin. Any further use PPC will have in NuBits is pure speculation until they confirm more information. I just don’t want people to get their hopes up for something that will solely help Peercoin out, when that may not be the case.
There is possibility of nubits for BTC. But I doubt about that. Your nubits trade code is open source and your opponents know nubits tactics. It’s very risky to manipulate BTC market where you probably not the largest whale and plan opened.
But if BTC whales are interested in nubits, it’s another story. Since sigmike is also a PPC core developer I wonder why nubits support PPC competitors. On the other hand, BTC as pow coin may dislike stable because it needs ever increasing price maintain mining.
We need to concentrate our strengthen on 1 or 2 coins. Of course nubits will be copied if succeed, but that’s other parties’ choice.
I’m pretty sure that NuBits is not about manipulating or intervening in any markets. That would be against some believes in free market trade and minimum government intervention.
I’m also pretty sure that the Nubits ‘system’ can be used by any coin in the Bitcoin ecosystem (and possibly beyond).
It is all about making Peercoin and cryptocurrencies in general more usable for day to day use.
[quote=“Cybnate, post:39, topic:2715”]I’m pretty sure that NuBits is not about manipulating or intervening in any markets. That would be against some believes in free market trade and minimum government intervention.
I’m also pretty sure that the Nubits ‘system’ can be used by any coin in the Bitcoin ecosystem (and possibly beyond).
It is all about making Peercoin and cryptocurrencies in general more usable for day to day use.[/quote]
Speculation is very bad for crypto currency, we need regulate ourselves. Recently all the topics of Nubits twitter are about volatility of BTC. That means sth, if you don’t intervene market, how can u affect price?
Any alt coin besides BTC community could copy Nubits code and modify it so that they can pay alt coin as dividend.
I don’t think Nubits serving for other alt coins is meaningful.