I know you probably aren’t ready to reveal this, but I was wondering where NuBits will acquire the Peercoins for the dividend payments?
Don’t think you will get an answer from them. My guess, most likely from the exchange they are testing the Nubits system with.
@sabreiib You don’t need to intervene in the market to address volatility. Hedging, trading options are ways to deal with volatility of a currency. It doesn’t solve volatility, but provides users of a currency protection against it. I believe there are some more less transparent financial products doing similar things.
Don’t think you will get an answer from them. My guess, most likely from the exchange they are testing the Nubits system with.
@sabreiib You don’t need to intervene in the market to address volatility. Hedging, trading options are ways to deal with volatility of a currency. It doesn’t solve volatility, but provides users of a currency protection against it. I believe there are some more less transparent financial products doing similar things.[/quote]
Today’s twitter
@ErikVoorhees @Coinapult Solving cryptocurrency volatility and eliminating counterparty risk do not need to be mutually exclusive however.
@ErikVoorhees @Coinapult Not a true decentralized solution. Significant counterparty risk still exists.
How to interpret these words? I’m really curious.
The real challenge for accountants, says Zasarsky, is that unless virtual currency’s value can be pegged against some trusted exchange – and that remains an issue – then “representing it on a balance sheet would be fictitious”. Money famously functions as a medium of exchange, a store of value and a unit of account. Bitcoin certainly provides exchange. But as a store of value and a unit of account, its utility is questionable. Its value against other currencies soars and plummets. A December 2013 study by Stern School of Business economist David Yermack found it was at least 10 times as volatile as other currencies. He concluded that “holding Bitcoin even for a short period is quite risky, which is inconsistent with a currency acting as a store of value and which greatly undermines the ability of a currency to function as a unit of account”. And you cannot deal with the risk through hedging or insurance, he added. In other words, there are serious challenges for anyone attempting to use Bitcoin as the foundation for accounts. If today’s best-known virtual currency is an accounting failure, the world may have to wait a little while yet for others to take off. Bitcoin may prove to be the virtual currency equivalent of Alta Vista, the early leader in internet search. Alta Vista famously stumbled and has now virtually disappeared. But its successor, a search engine called Google, learnt from its mistakes. - See more at: http://pubacct.org.au/why-bitcoin-is-a-nightmare/#sthash.4xxnUbHB.dpuf
I hope BTC=alta vista, and PPC=google. :
[quote=“sabreiib, post:43, topic:2715”]http://nubits.com
Today’s twitter
@ErikVoorhees @Coinapult Solving cryptocurrency volatility and eliminating counterparty risk do not need to be mutually exclusive however.
@ErikVoorhees @Coinapult Not a true decentralized solution. Significant counterparty risk still exists.
How to interpret these words? I’m really curious.[/quote]
So is NuBits going to be very different from Coinapult?
I have been researching about coinapult innovations and solutions to bitcoin stability, and the featured lock concept seems quite interesting and effective.
Centralization with the coinapult lock system is the problem tho, but the flexibility of locking and unlocking the bitcoin value to fiat currency is a great tool to fight volatility; the user is taking the risk of using a centralized system but also coinapult is taking a chance as it locks the price at the user leisure… If I understood the concept correctly.
I am very interested to see what solution NuBits is going to offer to achieve maybe something similar, without centralization…if possible at all.
I’m a big PPC holder and a professional trader. I actually make my income from cryptocurrencies trading bots designed by myself to provide liquidity and reduce volatility of cryptocurrencies.
I’m not a good programmer and i haven’t exactly understood what NuBits is, but i have some capital and i know markets very well so if you need help you just have to ask me.
[quote=“LeChatNoir, post:46, topic:2715”]I’m a big PPC holder and a professional trader. I actually make my income from cryptocurrencies trading bots designed by myself to provide liquidity and reduce volatility of cryptocurrencies.
I’m not a good programmer and i haven’t exactly understood what NuBits is, but i have some capital and i know markets very well so if you need help you just have to ask me.[/quote]
It would probably be best if you sent Jordan a PM, that way he’s notified upon signing in.
[/quote]
Well that’s a little harsh. NuBits will at least have some lace on the fringes, and it will say JUICY in big letters on the backside. It’s unisex too.