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CATO Institute discusses NuBits

NuBits is the only serious contender to displace Bitcoin as the number one crypto-currency

On the 29th of December, 2015,  William J. Luther, scholar at the CATO Institute, published an article entitled "Theoretical Fedcoin, Meet Operational NuBits".

In this articile, Luther describes NuBits as the first decentralized crypto-currency to maintain a perfect peg to the US dollar.

In this sense, he concludes that NuBits is accomplishing the role of a Fedcoin.

At the end, he however states that NuBits is not perfect.

Nontheless, he acknowledges that NuBits solves the biggest problem of Bitcoin: its volatility.

I do think that the world is starting to realize the huge benefits of NuBits over Bitcoin.

It is time to realize that NuBits is far superior than Bitcoin as a currency.

One might remember what Hanke and Dowd that wrote "New private monies" said about Bitcoin's volatility at the end of 2014.

“Though the supply of Bitcoin is limited, the demand is very variable; this variability has made its price very uncertain and created a bubble-bust cycle in the Bitcoin market. Perhaps the safest prediction is that Bitcoin will eventually be displaced by alternative cryptocurrencies with superior features.”

To me this is clear. Bitcoin will be eventually displaced at the crypto-currency with the most liquidity and NuBits is the only serious contender right now.

2016 is likely to be a very interesting year for NuBits!

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blog   2015/12/31   uploada

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