One thing I can say for sure. The reaction from a lot of the BTSX crowd has been very disappointing. Seeing bytemaster use words like 'suckers' and 'ponzi scheme' is just ridiculous. It doesn't matter if BTSX ends up the greatest thing that graced the human race, and NuBits a terrible idea - let it be known that Jordan Lee acts more professional when he is taking a dump, and that counts for something in my book. I think it's important people remember that in the end it's not crypto vs. crypto, it's crypto vs. state.
That said, if you knew BM's normal extremely measured and objective mode of communication, I think you'd take what he has to say about nubits more seriously. BTSX is accused of being a ponzi all the time so it is dangerous to recklessly accuse others, and bm knows the "real" critieria of ponzi and does not use the term lightly.
I believe you believe that, but I also think he just did. We're talking within hours of it's release, the mere infancy of a new system and he called it that. If Jordan thought something was a ponzi scheme, I still do not think he would say those words. He would voice his concerns in a very detailed and professional manner, and wait for a response. Apparently this doesn't matter to a lot of people, as BM seems to have quite a few followers ready to back him up regardless.
Still, I thank you for speaking cordially with me!
I think BM has a lot of people willing to back him up, especially in the Bitshares community, because over time he has proven himself as being much smarter than the average bear. He is one of the most intelligent people I know of in crypto, and I don't ever say that about anyone so that goes to show you how highly I and the Bitshares community value his thoughts and opinions. I think his statements on Nubits have been genuine and not a "knee jerk" reaction. Sure he could of possibly toned it down a little bit but at the end of the day Bitshares is a decentralized autonomous company, and BM's statements shouldn't reflect upon Bitshares as a whole just as Bitcoin core dev statements or actions shouldn't reflect upon Bitcoin as a whole. He was quick to form an opinion because he is a very smart guy with the ability to understand Nubits quickly and think through the possible implications better than most.
/BM fan boy
It's possible that events 1 & 2 together (bitUSD going down versus USD, btsx going simultaneously down versus bitUSD and USD) could be a problem. I try to explore worst-case scenarios, so this is not meant as FUD or something alike, in fact, I think the BTSX model is a really nice innovation.
I don't see how something cannot be manipulated if requiring people to make adjustments. Is there a plan to switch these custodians out with automation when it's more established? 