Very well put… I’d like to add this. At this point in time, the USD is considered an acceptable form of payment businesses around world. Nubits uses that fact to it’s advantage by introducing a Bitcoin like payment system that represents the dollar in its relative stability.
Bitcoin came out to solve 2 main problems:
Provide worldwide transactional system without 3rd party intermediary. (Short term and long term) which has already been achieved
Provide an alternative currency that is not controlled by political corruption and military force to be used as the main peaceful medium of exchange (long term) which when achieved, all fist currencies would fail but we haven’t reached such a point yet.
Nubits is united with Bitcoin in solving the first problem but it is, by design, not attempting to solve the second problem which is ok for short and long term. This won’t be an issue until the fiat currencies get recognized as failures by the majority business in the world. If that does happen in the future, Nubit will adjust to peg something that is recognized world wide for business (maybe a new peg of 1 NBT = 1 gram of gold for example).
Nubits brings fiat stability to crypto world without trying to fix fiat themselves. Please understand the goals of Nubits and don’t mix it with general crypto currency goals of other coins
Thank you to all the developers of Peercoin and Nubit… I have the utter most respect for you and complete faith in the success of your mission