Updates

FIAT inflation

Inflation adjusted NuBits

Just pegging NBT to the USD is not good enough for people who are worried about the Dollar inflation.
The good news is that Nubits can be more stable than USD, by adjusting its value in real time vs inflation.

But this is not a priority right now and will be implemented in second step.

This is how we would implement an inflation adjusted currency:

"Someone would advance a motion proposing the character and code we will use to define the currency, as well as its marketing name. They will also propose the use of a particular source and methodology for measuring inflation/deflation.
If passed, the dev team would need to make some minor changes to the code to include the currency.
Supply would be introduced the same way as NuBits, and on a monthly basis custodians would adjust the peg by configuring NuBot with the adjustment indicated by the economic data source chosen by shareholders in the original motion. This could be a downward adjustment in the unusual case of deflation."

"We anticipate that shareholders will begin using a data feed of their choice to configure their vote rather than manually configuring it as they do today. This will be particularly important with multiple currencies because each currency will require a different management of currency supply to match the demand of the currency in question. Because the management of multiple currencies through manual shareholder configuration of voting is impractical, I strongly support waiting to create additional currencies until there is a diversity of stable data feeds offering voting guidance to shareholders."

Reminder:

"NuBits is intended to the the first implementation of a currency deployed on the Nu block chain. The white paper discusses the idea of an inflation adaptive currency that could also be developed. There's a discussion that has been going on over at the Nu forums that starts to dig into what it could mean and the economic theories that support its creation:"

http://discuss.nubits.com/t/pegging-the-buying-power-of-1-2014-not-1-itself/148

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blog   2015/09/02   gbboy

NuBits can solve 2 problems at the same time

This is possible because NBT price is controlled in real time by Liquidity Provider Custodians.

Problem 1: cryptocurrency volatility, short-term fluctuation, the reason why cryptos cannot called money
Problem 2: FIAT inflation, long-term fluctuation, the reason why FIAT is called "bad money".

"In the first step, we'll manage to eliminate the crypto volatility and in the second step (perhaps one year later), we will resolve the FIAT bad money issue."
 

 

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blog   2015/09/02   gbboy