[{"data":1,"prerenderedAt":210},["ShallowReactive",2],{"project-15793166":3},{"id":4,"name":5,"line":6,"line_source":7,"title":8,"url":9,"domain":10,"maker":11,"posted_at":12,"year":13,"points":14,"comments":15,"rank_in_year":16,"shown_in_year":17,"top":18,"tier":19,"category":20,"subcategory":21,"format":22,"keywords":23,"reception":28,"sentiment":29,"stance_mix":30,"scored_comments":33,"aspects":34,"strip":40,"post_text":41,"what":42,"said":74,"maker_in_thread":136,"shape":146,"grid":149,"attempts":172,"same_week":173,"maker_shows":147,"maker_hidden":203,"reader_version":204,"card":205},"15793166","Unum","a cryptocurrency worth $1","title","Show HN: Unum – a cryptocurrency worth $1","https:\u002F\u002Funum.one","unum.one","impostervt",1511829046,2017,9,13,1958,2242,88,"shown","finance_crypto","stablecoin","web_app",[21,24,25,26,27],"ethereum","erc20","usd peg","price oracle","roasted",-0.2,{"positive":31,"neutral":32,"mixed":31,"critical":32},0,4,8,{"idea":35,"design":37,"performance":39},{"positive":31,"critical":36},3,{"positive":31,"critical":38},1,{"positive":31,"critical":31},[31,38,31,38,36,31,36,31,38,38,36,31,36],null,{"problem":43,"audience":41,"pricing":50,"motivation":54,"time_to_build":41,"stack":58,"openness":71,"stage":72,"team_size":73},{"value":44,"source":45,"evidence":46},"Cryptocurrency prices are volatile, hindering use as money by businesses and the public","maker",[47],{"id":48,"by":11,"text":49},"15793175","I've long felt that a price-stable cryptocurrency is vital to increased acceptance of cryptocurrency by businesses and the public at large. There are a few solutions to this…",{"value":51,"source":45,"evidence":52},"0.05% fee on buying and selling",[53],{"id":48,"by":11,"text":49},{"value":55,"source":45,"evidence":56},"Wanted a simple, distributed, trustless price-stable cryptocurrency",[57],{"id":48,"by":11,"text":49},[59,63,67],{"value":60,"source":45,"evidence":61},"Ethereum smart contract (ERC20)",[62],{"id":48,"by":11,"text":49},{"value":64,"source":45,"evidence":65},"MetaMask",[66],{"id":48,"by":11,"text":49},{"value":68,"source":45,"evidence":69},"Mist",[70],{"id":48,"by":11,"text":49},"open_source","prototype","unknown",{"praise":75,"objections":76,"requests":111,"questions":112,"alternatives":131},[],[77,88,95,105],{"value":78,"source":79,"evidence":80},"Requires buying another crypto first, adding transaction cost","commenter",[81,85],{"id":82,"by":83,"text":84},"15793391","Finnucane","Price stability is a requisite for a currency that you intend to actually use as money, but in this case it seems you have to buy some other crypto token first in order to buy…",{"id":86,"by":83,"text":87},"15796889","But you still have no way to buy unum directly with dollars, is that right? It’s not useful unless you already have some other crypto coin.",{"value":89,"source":79,"evidence":90},"Oracle depends on exchange prices; manipulation risk",[91],{"id":92,"by":93,"text":94},"15793444","Aqueous","Do you have to trust that the exchanges are telling your price oracle correct averages? Is this a source of trust leakage?",{"value":96,"source":79,"evidence":97},"Reserve shortfall could break the $1 peg in a crypto downturn",[98,102],{"id":99,"by":100,"text":101},"15793711","gus_massa","How can you ensure a $1 price if the price of Ethereum goes down and the reserve is less than the amount of Unum?",{"id":103,"by":100,"text":104},"15799184","Cryptocoins are strongly correlated, if one of the big ones goes down there is a high chance that most of them are going down. The penalty will not protect the coin from a \"bank…",{"value":106,"source":79,"evidence":107},"Treasury bonds would be simpler for dollar parity",[108],{"id":109,"by":83,"text":110},"15793897","If you want to maintain dollar parity, wouldn’t it be easier to use Treasury bonds? Dollar parity would be garaunteed by definition.",[],[113,120,124],{"value":114,"source":79,"evidence":115},"How does it differ from Tether?",[116],{"id":117,"by":118,"text":119},"15797929","hidiegomariani","How does it differ from tether (https:\u002F\u002Ftether.to\u002F) ?",{"value":121,"source":79,"evidence":122},"Can you buy Unum directly with dollars?",[123],{"id":86,"by":83,"text":87},{"value":125,"source":79,"evidence":126},"How does the price oracle update and what if it fails?",[127],{"id":128,"by":129,"text":130},"15794066","seanwilson","> Whenever a user buys or sells Unum through the Unum Smart Contract, the current US dollar value of the exchanged cryptocurrency is found on another smart contract, called the…",[132],{"value":133,"source":79,"evidence":134},"Tether",[135],{"id":117,"by":118,"text":119},{"comments":137,"answered":36,"key":138},5,[139,140,143],{"id":48,"text":49},{"id":141,"text":142},"15793445","It maintains it's price stability by using other cryptocurrencies as a surrogate to the USD.",{"id":144,"text":145},"15793456","In a sense, yes - if all the exchanges are manipulated, Unum is screwed. The price being sent to the oracle is an average, so manipulating just one wouldn't have that much of an…",{"commenters":147,"max_depth":32,"maker_replies":137,"first_comment_mins":38,"lifespan_hours":148},6,17,[150,152,154,156,157,158,159,160,163,164,166,168,170],[48,31,31,151,11,38],"project\u002Fpositive\u002Fidea",[82,31,38,153,83,31],"project\u002Fcritical\u002Fidea",[141,31,31,155,11,38],"project\u002Fneutral\u002Fidea",[86,31,38,153,83,31],[92,31,36,155,93,31],[144,31,31,155,11,38],[99,31,36,155,100,31],[161,31,31,162,11,38],"15793873","project\u002Fneutral\u002Fdesign",[109,31,38,153,83,31],[103,31,38,165,100,31],"project\u002Fcritical\u002Fdesign",[128,38,36,167,129,31],"project\u002Fneutral\u002Fperformance",[169,38,31,167,11,38],"15796174",[117,171,36,155,118,31],2,[],[174,179,184,189,193,198],{"id":175,"name":176,"points":177,"category":178},"15765762","Nebula",345,"productivity",{"id":180,"name":181,"points":182,"category":183},"15796943","Tenta DNS",283,"infrastructure",{"id":185,"name":186,"points":187,"category":188},"15810244","Promptui",196,"languages",{"id":190,"name":191,"points":192,"category":188},"15809291","stream-audio-fingerprint",158,{"id":194,"name":195,"points":196,"category":197},"15785333","Ondevice SSH",152,"dev_tools",{"id":199,"name":200,"points":201,"category":202},"15793156","3D Game Programming",109,"learning_science",false,"v2",{"id":206,"name":5,"line":6,"ai":203,"cat":20,"year":13,"points":14,"comments":15,"rec":28,"s":29,"top":18,"kw":207,"maker":11,"domain":10,"tier":19,"attempts":31,"strip":208,"url":9,"mix":209,"praise":-1,"objection":78,"sub":21},15793166,[21,24,25,26,27],"0101303011303",[31,32,31,32],1793990967031]