You are viewing a single comment's thread from:
RE: NuBits Implosion (You Might Be Able To Profit)
Damn that peg looks thoroughly broken, not looked at the mechanics of it behind the scenes. Maybe consider Dai which has so far been fairly stable. Not sure any currency can maintain a stable peg to FIAT, even FIAT is unstable.
The ones that have a collateral mechanism like Dai or BitUSD are sort of weird to me because you have to have such ample reserves and be invested in the underlying crypto. With SBD a person could technically have it and send it around without having any STEEM. Same with NuBits .... A person doesn't have to have NuShares to utilize it.
I think you are right about no currency maintaining $1 potentially. It is a tough task and people panic sell like crazy or panic retreat to it. I think there is hope to return to $1. All it takes is for investors to get greedy. Staking is a big reason NEO is popular so the premise that people will park their coins and earn more and have a chance to get an increase when it returns to $1 should make it an enticing offer