Yurizhai



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Hero MemberActivity: 727Merit: 500 Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? September 23, 2014, 07:09:57 PM #2



The NuBits whitepaper can be found here





The basic idea is that:



The price of NuBits is pressed downward by shareholder elected 'custodians' selling NuBits for $1.



The price of NuBits is pressed upward by anyone who owns NuBits being able to take their NuBits out of circulation (called parking) for a limited time in exchange for a monetary incentive, the incentive amount chosen by shareholders which will reflect how needed parking is at the current time.



Hope this helps.

Far too early to tell, but I think we can all agree it is good to see two serious competitors in the market! This will make both of them try to constantly improve.The NuBits whitepaper can be found here https://nubits.com/about/white-paper The basic idea is that:The price of NuBits is pressed downward by shareholder elected 'custodians' selling NuBits for $1.The price of NuBits is pressed upward by anyone who owns NuBits being able to take their NuBits out of circulation (called parking) for a limited time in exchange for a monetary incentive, the incentive amount chosen by shareholders which will reflect how needed parking is at the current time.Hope this helps.

delulo



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Sr. MemberActivity: 441Merit: 250 Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? September 23, 2014, 10:06:09 PM #4 Quote from: Yurizhai on September 23, 2014, 07:09:57 PM



The NuBits whitepaper can be found here





The basic idea is that:



The price of NuBits is pressed downward by shareholder elected 'custodians' selling NuBits for $1.



The price of NuBits is pressed upward by anyone who owns NuBits being able to take their NuBits out of circulation (called parking) for a limited time in exchange for a monetary incentive, the incentive amount chosen by shareholders which will reflect how needed parking is at the current time.



Hope this helps.



Far too early to tell, but I think we can all agree it is good to see two serious competitors in the market! This will make both of them try to constantly improve.The NuBits whitepaper can be found here https://nubits.com/about/white-paper The basic idea is that:The price of NuBits is pressed downward by shareholder elected 'custodians' selling NuBits for $1.The price of NuBits is pressed upward by anyone who owns NuBits being able to take their NuBits out of circulation (called parking) for a limited time in exchange for a monetary incentive, the incentive amount chosen by shareholders which will reflect how needed parking is at the current time.Hope this helps.



One Nubits should always be one USD? I clearly have to read the paper Interesting. What role does peercoin (undercapitalized) play for the mechanics of Nubits?One Nubits should always be one USD? I clearly have to read the paper

Yurizhai



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Hero MemberActivity: 727Merit: 500 Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? September 23, 2014, 11:08:41 PM #7 Quote from: toast on September 23, 2014, 11:01:03 PM How do you enforce "revenue is paid to shareholders in the form of peercoins only"? If I understand correctly, this process is entirely off-chain and I don't see how you could stop the shareholders form choosing to pay dividends in USD or BTC or something.



It's not off chain. Paying dividends with Peercoins happens in the client. Paying dividends with something else would be.. hard, to say the least. We're talking hundreds, thousands, eventually hundreds of thousands of shareholders you're going to pay individually with something other than Peercoin, or create some kind of program to do it.. why? It's supposed to be in Peercoins, if you refuse to do it that's a good way for the shareholders to abandon you as a custodian. It's not off chain. Paying dividends with Peercoins happens in the client. Paying dividends with something else would be.. hard, to say the least. We're talking hundreds, thousands, eventually hundreds of thousands of shareholders you're going to pay individually with something other than Peercoin, or create some kind of program to do it.. why? It's supposed to be in Peercoins, if you refuse to do it that's a good way for the shareholders to abandon you as a custodian.

Yurizhai



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Hero MemberActivity: 727Merit: 500 Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? September 24, 2014, 12:15:40 AM #9 Quote from: toast on September 24, 2014, 12:06:43 AM Quote from: Yurizhai on September 23, 2014, 11:08:41 PM Quote from: toast on September 23, 2014, 11:01:03 PM How do you enforce "revenue is paid to shareholders in the form of peercoins only"? If I understand correctly, this process is entirely off-chain and I don't see how you could stop the shareholders form choosing to pay dividends in USD or BTC or something.



It's not off chain. Paying dividends with Peercoins happens in the client. Paying dividends with something else would be.. hard, to say the least. We're talking hundreds, thousands, eventually hundreds of thousands of shareholders you're going to pay individually with something other than Peercoin, or create some kind of program to do it.. why? It's supposed to be in Peercoins, if you refuse to do it that's a good way for the shareholders to abandon you as a custodian.

It's not off chain. Paying dividends with Peercoins happens in the client. Paying dividends with something else would be.. hard, to say the least. We're talking hundreds, thousands, eventually hundreds of thousands of shareholders you're going to pay individually with something other than Peercoin, or create some kind of program to do it.. why? It's supposed to be in Peercoins, if you refuse to do it that's a good way for the shareholders to abandon you as a custodian.

Just because it's in the client doesn't mean it's on-chain. I don't see how it could be on-chain without modifying PPC blockchain rules.



What if majority shareholders decide PPC is not the best way to pay dividends? From what I can tell it is not explicitly part of the protocol. That's not a bad thing, it's only bad if your promise that PPC is the only way to do this if it isn't.

Just because it's in the client doesn't mean it's on-chain. I don't see how it could be on-chain without modifying PPC blockchain rules.What if majority shareholders decide PPC is not the best way to pay dividends? From what I can tell it is not explicitly part of the protocol. That's not a bad thing, it's only bad if your promise that PPC is the only way to do this if it isn't.

The whitepaper outlines Peercoin as the way dividends will be paid. I do not actually know if it is enforced in the protocol in some way. In any case, there is no reason people would not want to use PPC. It has the smallest blockchain, and they specifically want to avoid paying dividends in NBT. Maybe someday they will change dividends payments, but for now all elected custodians that I know of are planning to buy Peercoins with the profits soon. The whitepaper outlines Peercoin as the way dividends will be paid. I do not actually know if it is enforced in the protocol in some way. In any case, there is no reason people would not want to use PPC. It has the smallest blockchain, and they specifically want to avoid paying dividends in NBT. Maybe someday they will change dividends payments, but for now all elected custodians that I know of are planning to buy Peercoins with the profits soon.

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LegendaryActivity: 1590Merit: 1000 Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? September 24, 2014, 03:44:44 PM

Last edit: September 24, 2014, 04:04:45 PM by Zer0Sum #18 Quote from: peligro on September 24, 2014, 12:43:37 PM NuBits is very centralised. I don't like how you can not generally buy them. They are trying to get a small group who holds and controls it.

The Peercoin pump showed how a small group manipulating is not a good idea.



Ya man, Jordan Lee has been selling "shares" to his buddies for months...

Then they engineered this massive PPC Pump to cash in.



I skimmed the Whitepaper (Gen 2.0 fatigue, baby) and complexity is usually a bad sign...

At the end Jordan basically says he is targeting the USD...

Imagine the killer drugs this dude must be on...

To create a new Federal Reserve and call the money "NuBits"...

Like it's a children's snack... dude probably has not left his PC in 20 years.







JORDAN'S BIG PUMP Ya man, Jordan Lee has been selling "shares" to his buddies for months...Then they engineered this massive PPC Pump to cash in.I skimmed the Whitepaper (Gen 2.0 fatigue, baby) and complexity is usually a bad sign...At the end Jordan basically says he is targeting the USD...Imagine the killer drugs this dude must be on...To create a new Federal Reserve and call the money "NuBits"...Like it's a children's snack... dude probably has not left his PC in 20 years.