Quote from: CoinHoarder on July 13, 2016, 09:39:23 PM

Quote from: hozer on July 13, 2016, 09:33:29 PM

Quote from: CoinHoarder on June 21, 2016, 05:37:09 PM

The Nubits peg has been broken for at least 12 days now. It is currently at $0.258 instead of the $1.00 like it is supposed to be. It is unclear to me if they will ever regain the peg. Their main developer, the pseudonymous "Jordan Lee" has gone MIA. He was last seen on the Nubits forums 9 days ago. That doesn't exactly inspire confidence, but the Nubits/B&C Exchange community is scrambling to replace him and remedy the situation. We shall see if those efforts are successful... this thread breaks down the Nubits peg failure pretty well, and the ensuing drama that has unfolded: https://discuss.nubits.com/t/withdrawn-make-firing-and-replacing-incompetent-liquidity-providers-our-top-priority/4036

At least, maybe now the Nubits camp can concede that Bitshares' bitUSD is a better solution to the same problem. It is still going strong since before September of 2014, and it is currently valued at $1.01

Nubits is back to $0.88 on bittrex and $0.79 on poloniex, so it looks to me like a recovery is in progress.

You never know if something works until you test it to failure, so this makes for a vote of confidence for Nubits and it's community if the recovery continues.

That is cool. I am rooting for them to succeed. I think the idea could work, but it was poorly managed. They spent way too much cash on share buy backs. If they had all the cash they spent doing that on hand, the peg might of never been lost in the first place. Hindsight is of course 20/20.

There is also a new competitor- the Steem Dollar (SBD). http://www.steemdollar.com/

How is the steem dollar (SBD) even remotely relevant? If you want to compare the two, even with the recent (last 6 hours?) free-fall of Nubits prices it's still a pretty good peg to dollars compared to SBD. bitUSD, on the other hand seems to be holding and recovering from BTC price swings pretty well, even if it does have a larger spread that Nubits used to when it was working.