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Dash + Nubits forum invitation

GrandMasterDash

Well-known member
Masternode Owner/Operator
This is a cross-crypto-forum post. I'm hoping some of you will come over and possibly join the discussions. I'm doing this because I think (hope) there might be some synergy. Here are some key aspect of both cryptos...

Nubits https://discuss.nubits.com/

Pegged to the US dollar and has a good track record of maintaining that peg. More pegs to come, including euro, yuan and SDR.

Dash https://dashtalk.org/forums/general-discussion.2/

Has a second tier network of more than 3400 "masternodes". These are full nodes providing network services, such as instant transactions and mixing (soon to be at the protocol level)

Dash also has a budget and governance system for projects, seminars, marketing etc. For example, they were able to get reimbursement from the blockchain for securing the domain "dash.org"

Does nubits want instant and private transactions? Does dash want a wallet to lock funds into US dollars, euros etc? Yes and Yes.

Anyway, one step at a time. I was told that it's really hard to get cryptos working together... but I think collaboration makes us stronger and a contender to bitcoin. All I ask that we leave our egos at the door and keep an open mind.

Thanks
 
I certainly think it's a good idea to discuss this between the two groups as each currency has something to offer the other and from what I can see the Nubits community seems to be civilised and forward thinking like the DASH community.

Thank you for initiating this GrandMasterDash, I look forward to see how this progresses.
 
The Nubit wallet loading is killing me. Taking as long as a Bitcoin wallet
 
Sounds dangerous, but interesting. Although I for one don't find it particularly useful to be pegged to USD (since the USD supply is centrally controlled and very inflationary), I think there is a demand for it, and so, would facilitate adoption.

I heard the NuBits team is also developing B & C Exchange, a decentralized exchange that will be able to transact using multiple crypto chains, which I think will be great.

It seems there are at least a couple of NuBits users that interested in this merge prospect as well. So what's the roadmap, Grandmaster? I can't even think how the integration could take place. Will NuBits use Dash MNs for IX and anonymity? How would one currency be "converted" to the other in the wallet? How would NuShares holders be able to vote?
 
grandmasterdash, Thanks for coming up with this idea. It might be brilliant or it might be stupid. Time will tell. All ideas are encouraged (by me at least).

I started plowing through the nu info sites. So far, I see no tangible benefit for DASH by collaborating. That being said, I'm open to persuasion. Can you give me some of your reasoning for suggesting this?
 
The basic idea is to let users lock in the price of their dash for free (USD / EUR / CNY / SDR) without going through a third party exchange (though you'd probably need to use an exchange to derive the correct market price). We could possibly set this up through a memorandum of understanding, to process each others transactions at zero cost.

Nubit users would also get free transactions and possibly basic access to DarkSend to give them privacy.

I imagine such a collaboration would get lots of good press coverage and draw new users on both sides. Keep in mind, it doesn't affect supply because both cryptos are doing different things, they're simply complimenting each other.
 
Yes, but how exactly would conversion take place? I just don't see it being done without an exchange (maybe the NuBit community could explain it?). And what if at some point in the future, the interests of NuShare holders conflict with those of MN operators? How are you suggesting we merge voting?
 
Exchanging coins back and forth is pretty easy if you use shapeshift. You can even setup an ongoing input/output trade pair.

How does Nubits trade with fiat? Is there a coinbase/circle for them? Otherwise, if BTC is the only way to trade fiat it doesn't make much sense to trade through nubits/btc. I see the benefit for trading on exchanges without fiat transactions, but day to day use, it seems limited.
 
Shapeshift isn't that good; their liquidity and spreads aren't that good.. and they do all that AML-KYC stuff, even though there's "no account".

If we could figure out how to do this, then maybe we could get best price zero cost transactions. But it's difficult, I haven't figured it out yet... maybe some kind of fixed price two-way contract sitting on the blockchains, or have them create a DashUSD on their platform, in the same way they're doing USD / EUR / CNY / SDR. I don't know...
 
The basic idea is to let users lock in the price of their dash for free (USD / EUR / CNY / SDR) without going through a third party exchange

Why would this be desirable? I get that you want to limit your downside risk, but you give up the upside.
 
Why would this be desirable?
Merchants, tourists and shoppers who know they must spend a certain amount of fiat in a limited time frame don't want to suddenly be unable to afford it due to market fluctuations. If there was no demand for it, NuBits wouldn't exist (then again, Litecoin is still with us...)
 
Merchants, tourists and shoppers who know they must spend a certain amount of fiat in a limited time frame don't want to suddenly be unable to afford it due to market fluctuations.

That seems like a pretty flimsy reason to instigate a merger.

If there was no demand for it, NuBits wouldn't exist (then again, Litecoin is still with us...)

Not nessessarily, maybe they did the "build it and they will come" thing.
 
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