NuBits lost its $1 peg a couple of weeks ago and since then I have been "Parking" my Nubits and earnings NuBits. The reward was generous and it was to encourage HODLing. Well huge volumes came in and started buying NuBits up.
It got clear down to $0.35 and now it is really surging. I don't know if it can make it back to $1 or not and if it does I'm not sure if it can stay there if they don't have enough money in the liquidity operations to keep it there. The NuShares volumes are super low which is odd in some ways but more people probably want to buy them at this point and Stake them for more. The park rates have been generous and hopefully everything does recover back to $1 and it continues on. In the meantime this could be an opportunity to buy something that is configured to be at $1 for less potentially but again it could tank way down again. It is hard telling.
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Pegs are meant to be broken. Even the Swiss central bank couldn't keep the CHF pegged to the euro, so what chance does SBD or NuBits have? Something to keep in mind.
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The unique pegged that I could trust is BitUSD but it is listed in too little exchanges
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Another one that uses collateral like BitUSD is Dai which is built on Maker. I don't like the idea that you have to post collateral which might erode in value.
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Yeah it is certainly a tough thing to do. I almost think that a person is best off keeping their money split between two or 3 dollar pegged assets encase one fails.
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Hopefully soon there will be more FIAT to altcoin pairings meaning these dollar pegged currencies won't be as necessary. It would also mean every alt is not tied to Bitcoin so closely.
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Should have took the chance when it was down to around $0.40. Definitely risky now as I imagine there will be a dump when it gets back close to its peg.
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Looks like there is another dump going on for now. I think there will be several chances to get in. The park rates are actually 58% now. It will be interesting how everything turns out. A lot of people are enticed by the chance to get in on the action.
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No doubt. Huge volume compared to recent weeks
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Ahhhh, you tempt me with this one again, I might just have a nimble at it but these pegged currency are doom to fail... With such a comeback it might be worth my time, I take a look at the volume if I get something nice I might take a go at it... my only worry is the SEC eyes and muscle start hovering over these pegged currency especially the 1 USD quote, but as you say they could be making a come back
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It is an interesting situation and a lot of people could be tempted to ride it back to $1.
I don't think the SEC would have an issue with NuBits because it is decentralized but I could see them having an issue with Tether or TruUSD
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I will monitor this one and see if I nimble some
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Thank you for this wonderful and interesting news
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