Quote from: JordanLee on January 17, 2015, 12:13:41 AM

There are too many errors in the OP to take the time to correct individually. It is obviously an attempt to create FUD with the intent of increasing the market cap of a competitor.

If you are actually interested in understanding the situation please take a look at what I posted here about reserves and fractional reserves:

https://discuss.nubits.com/t/regarding-reserves-and-fractional-reserve/1126

Quote from: toast on January 16, 2015, 07:43:30 PM

So the only mechanism there to support nubit price if it starts falling is to NBT to NSR burn (equivalent to inflating NSR to buy back NBT), which is in the process of being implemented.

I respect toast for his attempt to be accurate and fair, but what he says here is misinformed. The Nu network provides six tiers of liquidity, with redundant liquidity provider custodians ensuring there is no failure, even temporarily. What toast is referring to is our sixth tier of liquidity, our last line of defense. When tier 1 liquidity is exhausted for a particular redundant liquidity provider custodian, tier 2 liquidity is promoted to tier 1. Similarly, if tier 2 becomes exhausted for a specific liquidity provider, it is replenished from tier 3, and so on. There has never been a need to use our fifth tier of liquidity (interest rates) or six tier (NuBit burning). Our liquidity operations have shown no signs of stress at all in recent days. As far as I know, there has not even been any need to replenish any subset of tier 1 liquidity with tier 2 liquidity. Here is an outline of our liquidity operations:

https://discuss.nubits.com/t/finalized-evolution-of-liquidity-operations/618

As toast implies, tier 6 has not been implemented yet but is expected in the next release that includes a protocol change (0.6.0). The post linked to above is a recently passed motion and is not all implemented yet. Still, the bottom line is out network currently provides five tiers of liquidity (soon to be six) , but in recent days the first tier is all that has been utilized.

The OP is free to try to induce a panic to sell NuBits if he wishes. If he succeeds it will just be an opportunity to demonstrate the deep buy support that we can bring to market.

So.. you're not actually going to provide any proof that you're still solvent beyond mentioning a bunch of tiers? "look man, we have SIX WHOLE TIERS of liquidity, we're never gonna run dry, trust me I'm a cryptographic expert".

https://www.youtube.com/watch?v=D_imtRPCKCg The fact that you allowed a video like this to be created, which doesn't even mention that there could possibly be any risks to the peg, is downright criminal. Also do you have anything to say about the legal status of these various "tiers"? It's starting to look like you're saying that NuBit is actually a fiat IOU since these tiers are apparently super safe and can be brought to demonstrate deep buy support for an arbitrary amount whenever needed. Do you think that's legal without AML?