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NuBits: achievements after 15 months of operation

Since inception on September, 23rd 2014 NuBits has demonstrated that it is the #1 stable cryptocurrency in the world, in terms of marketcap and transaction volume.

Definition: a stable cryptocurrency is a currency issued on the blockchain, keeping a stable value. In this case, 1NBT = 1USD

- Stability is a bliss:

"NBT has been stable since day 1"

"As long as goods and services are priced in USD, Yen, EUR, CNY, etc. the volatility of (most) cryptocurrencies is hindering adoption.
If merchants accept cryptocoin payment, they generally use payment providers who convert the cryptocurrencies in the background to fiat for them."

"So, stability is certainly not a bad attribute of a currency.  "

A user: "I have used NuBits to buy many things. And the NuDroid mobile wallet allows me to hold stable NuBits and then automatically convert them to BTC at the point-of-sale. So I have the stability of the US dollar in crypto form but I have the network reach of Bitcoin. It's really convenient and I don't have to worry about day to day fluctuations of Bitcoin."

NuVentures has used NBT on several occasions to settle the payment for its website design renewal. NBT was used as a cryptofiat or synthetic dollar to conduct an international wire transfer, virtually at no cost.

 

- Distributed direct governance enabled by the peershares/nushares template is a bliss:

"NuShares holders have a unique ability to directly vote on market policy that is aimed to provide an uncommon service to the crypto world. Pegged digital assets have existed in various forms but not to the degree and success of NuBits. It's pretty amazing to see distributed direct governance in action simply by owning a digital asset."

"The supply of stable tokens needs to be inflatable and deflatable to adjust the supply to demand.  Without that mechanism you will always have more or less volatility. Nu has this mechanism."

 

- Top transaction volume

"NuBits have had the top transaction value among stable digital currencies (BitUSD, CoinoUSD, Tether) most days, and have frequently been in the top 3-10 overall during periods of extreme Bitcoin volatility. "

 

The (near) future ahead is very bright for NuBits. 

NuVentures sees NuBits's path to mainstream adoption going through different stages.

The first stage is replacing Bitcoin as the primary intermediary currency (liquidity token for trading) in the crypto market. That shall be achieved through NBT price stability and liquidity operations. 

NuBits aims at becoming the number 1 crypto-currency. NuShares the number 1 crypto-share. Bitcoin being the number 1 crypto-commodity.

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release   2015/12/04   gbboy

NuBits and the decentralization of finance

Nu is welcoming anybody that wants to contribute to the decentralization of finance.

Nu is welcoming anybody that wants to become a shareholder of Nu, the first decentralized central bank in the world.

If you would like to become a shareholder of Nu, you will need to acquire NuShares, the assets that back the peg of NuBits to one dollar.

NuBits is free of any counterparty-risk. It is not reserve-backed.

The peg is kept solely by buy/sell side liquidity walls around 1NBT = 1USD across several exchanges.

The liquidity is provided by liquidity providers that can contribute in stand-alone mode or via decentralized liquidity pools.

Right now, there are roughly 500k NBT in existence, the buy side liquidity is around 90k NBT and the sell side liquidity around 110k NBT.

The peg has been kept perfectly since NuBits' inception in Sep 2014. Nu has more and more liquidity, with more and more exchanges trading NuBits.

 

But perhaps the biggest thing on the horizon is a totally decentralized exchange called B&C Exchange which would guarantee a very secure and cheap NuBits liquidity for Nu Shareholders.

That exchange which will be released in a few months will be using NuBits as a synthetic dollar to get in and out of the exchange.

In that sense, NuBits is a crypto-FIAT (crypto-dollar), or a crypto-currency pegged to FIAT money (dollar).

 

You have the following links at your disposal, if you would like to get more information.

- www.nubits.com: official web site

- www.discuss.nubits.com: official forum

- https://docs.nubits.com/history : the origin and the beginnings of NuBits.

 

NuBits combines the best of both worlds:

- the convenience and stability of FIAT currencies

- the decentralization of Bitcoin

 

Nu is welcoming anybody that wants to contribute to the decentralization of finance!

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blog   2015/10/12   uploada