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Let's talk distributed voting infused to a pegged currency value (nubits)  
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Author Topic: Let's talk distributed voting infused to a pegged currency value (nubits)  (Read 2755 times)

HCLivess

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So, NXT has both the Monetary System and the voting system. This could be combined to provide the pegging just as nubits does it, by voting on the actual value and inceitives/penalties resulting from evading the consensus.
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jl777

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #1 on: September 08, 2015, 10:58:53 am »

I believe peggy is solving this problem properly
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HCLivess

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #2 on: September 08, 2015, 11:02:18 am »

Is nubits solution analogous to BitShares assets? Half a year ago I read about BitXXX assets and concluded that it's very likely to implode one day.

Quote
Nu permits holders of NuShares to manage the quantity of NuBits without dependence on any off blockchain mechanisms. Additional NuBits can be created when shareholders vote to do so and will be placed in the custody of a recipient chosen by shareholders called a custodian. There can be as many custodians as the shareholders elect to have and they can be changed at the whim of shareholders. Custodians may adopt a pseudonym if they choose to do so. Because custodians can be pseudonymous, many in number and abandoned at the will of shareholders, third parties cannot gain control of the network by leveling threats against custodians. Being a custodian doesn't impart any control over the network, only over a finite quantity of network revenues. NuBits created and sold are network revenues that can be used by custodians for Nu operating expenses and dividends. Dividends will be paid only in Peercoins, which means custodians must purchase Peercoins in preparation to distributing them. Therefore, demand for Peercoins will increase proportionate to the amount of dividends paid by Nu.



Conversely, the system can reduce the available supply of NuBits through a separate mechanism called parking, where holders of NuBits volunteer to take their currency out of circulation for a user configurable period of time in exchange for a monetary incentive. This is similar to extending a loan at interest. Shareholders can dynamically adjust the level of interest offered on parked NuBits (which varies by the duration) by voting for whatever yield curve they think is appropriate when they mint a block. When organic NuBit demand is in decline, shareholders will create synthetic demand for them by offering interest on parked NuBits. Some entities that would have no interest in NuBits as a currency will purchase them simply to park them at interest, thereby compensating for the decline in organic demand. Shareholders will raise the interest offered to whatever level is required so that organic and synthetic demand combined will not decline. As organic demand increases once again, the interest offered will be reduced until organic demand reaches its previous peak, at which time no interest will be offered for parking.

https://nubits.com/about/white-paper
« Last Edit: September 08, 2015, 11:04:38 am by HCLivess »
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bcdev

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #3 on: September 08, 2015, 11:16:59 am »

I believe peggy is solving this problem properly
Any links? 20s google search didn't yield anything substantial.


https://nubits.com/about/white-paper
I'll read it in a few days and I'll give my feedback.
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jl777

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #4 on: September 08, 2015, 11:19:36 am »

I believe peggy is solving this problem properly
Any links? 20s google search didn't yield anything substantial.


https://nubits.com/about/white-paper
I'll read it in a few days and I'll give my feedback.

https://github.com/jl777/btcd/tree/master/libjl777/plugins/peggy

Fully decentralized fiat pegging system without any counterparty, supports long and short positions and also leverage of up to 25x and pays interest on funds deposited
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LocoMB

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #5 on: September 08, 2015, 11:58:11 am »


https://github.com/jl777/btcd/tree/master/libjl777/plugins/peggy

Fully decentralized fiat pegging system without any counterparty, supports long and short positions and also leverage of up to 25x and pays interest on funds deposited

that is quite a tall order- but since I have never seen any unsubstantiated claims from James I am looking very much forward to seeing this in action!

Is there a place somewhere in the source that has all api calls collected like the old api.h (that has wandered into the 'deprecated' folder last month)?

or does each plugin have its own location with api calls? I had a peek into Instantdex.h but couldn't identify anything explicit..
« Last Edit: September 08, 2015, 12:03:35 pm by LocoMB »
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jl777

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #6 on: September 08, 2015, 12:16:42 pm »


https://github.com/jl777/btcd/tree/master/libjl777/plugins/peggy

Fully decentralized fiat pegging system without any counterparty, supports long and short positions and also leverage of up to 25x and pays interest on funds deposited

that is quite a tall order- but since I have never seen any unsubstantiated claims from James I am looking very much forward to seeing this in action!

Is there a place somewhere in the source that has all api calls collected like the old api.h (that has wandered into the 'deprecated' folder last month)?

or does each plugin have its own location with api calls? I had a peek into Instantdex.h but couldn't identify anything explicit..
The convention is that at the top of <agent_main.c> is the list of API calls

so InstantDEX_main.c:

#define INSTANTDEX_LOCALAPI "allorderbooks", "orderbook", "lottostats", "LSUM", "makebasket", "disable", "enable", "peggyrates", "tradesequence", "placebid", "placeask", "orderstatus", "openorders", "cancelorder", "tradehistory", "balance", "allexchanges"

#define INSTANTDEX_REMOTEAPI "msigaddr", "bid", "ask", "swap", "funding", "refund"

InstantDEX is an exception in that it has a local API path that bypasses the normal processing, for speed
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HCLivess

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #7 on: September 10, 2015, 08:12:38 am »

So, will this be implemented in BTCD and BTCD only?
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jl777

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #8 on: September 10, 2015, 08:27:04 am »

So, will this be implemented in BTCD and BTCD only?
the peggy funds will be locked in the BTCD blockchain but NXT accounts will be able to be used directly to spend and trade them

so it is a new type of thing as it will exist in one blockchain, but spendable by accounts on another
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HCLivess

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #9 on: September 14, 2015, 10:46:59 am »

So, will this be implemented in BTCD and BTCD only?
the peggy funds will be locked in the BTCD blockchain but NXT accounts will be able to be used directly to spend and trade them

so it is a new type of thing as it will exist in one blockchain, but spendable by accounts on another

great, thanks!
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xiahui135

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #10 on: September 14, 2015, 11:55:45 am »

So, will this be implemented in BTCD and BTCD only?
the peggy funds will be locked in the BTCD blockchain but NXT accounts will be able to be used directly to spend and trade them

so it is a new type of thing as it will exist in one blockchain, but spendable by accounts on another
is this a crypo777 program?
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jl777

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #11 on: September 14, 2015, 11:56:52 am »

So, will this be implemented in BTCD and BTCD only?
the peggy funds will be locked in the BTCD blockchain but NXT accounts will be able to be used directly to spend and trade them

so it is a new type of thing as it will exist in one blockchain, but spendable by accounts on another
is this a crypo777 program?
yes
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TomJoad

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #12 on: November 02, 2015, 05:00:59 am »

Is nubits solution analogous to BitShares assets? Half a year ago I read about BitXXX assets and concluded that it's very likely to implode one day.

Hello. I don't want to hijack the thread from discussion about peggy, but the Nu design is very, very different than BitUSD and BitAssets. BitUSD is a collateralized derivative of BitShares, whereas NuBits are an actual currency that can scale upwards more gracefully (albeit without 100% backing). Over the past year, coinmarketcap.com has clearly shown that NuBits are traded at a much higher volume than BitUSD, and maintain a much tighter $1.00 peg.

If anyone has Nu-specific questions here I'm happy to answer, otherwise I'll let the discussion get back on track for NXT solutions.

« Last Edit: November 02, 2015, 05:05:44 am by TomJoad »
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TomJoad

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #13 on: November 02, 2015, 05:04:16 am »

nubits....
I'll read it in a few days and I'll give my feedback.

I'm unable to link to it, but we have a "Price Stability" page on our website that shows some of the additional innovations that have been created over the past year - including variable transaction fees, NuShare custodial grants, and automated decentralized liquidity pools - that all have helped improve the stability of NuBits beyond what the original white paper specified.
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HCLivess

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Re: Let's talk distributed voting infused to a pegged currency value (nubits)
« Reply #14 on: November 04, 2015, 11:28:17 am »

nubits....
I'll read it in a few days and I'll give my feedback.

I'm unable to link to it, but we have a "Price Stability" page on our website that shows some of the additional innovations that have been created over the past year - including variable transaction fees, NuShare custodial grants, and automated decentralized liquidity pools - that all have helped improve the stability of NuBits beyond what the original white paper specified.

NuBits are holding very strong even during this surge. Great work.
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