Hi, I’m Sentinelrv of the Peercoin community. I’ve worked with lead developer Sunny King of PPC and XPM since early 2013. We noticed today your announcement about delisting Primecoin soon. While the delisting is to be expected, I just wanted to say that there have been rumors about Sunny King working on sidechain support for Primecoin behind the scenes, though we’re not completely sure if this is true since he hasn’t announced anything yet. That could raise demand for XPM in the future if true, but we understand if you need to delist it. Most of our community’s focus is on developing Peercoin.
Anyway, the main reason I’m sending this though is because I wanted to talk about a possible partnership with the Nu team. The Nu Network was developed by veteran Peercoin community members lead by Jordan Lee and is talked about a lot by Sunny King in his weekly updates. Peercoin core developer Sigmike is actually on both teams, so the two teams share development resources.
NuNet itself is Peercoin’s first DAC. Where Bitcoin and Peercoin fluctuate greatly in price, limiting their use as an actual currency, we had the revolutionary idea to split Nu into two units, a currency called NuBits and ownership of the network in the form of NuShares. This design allows the currency (NuBits) to remain price stable and pegged to the dollar. 1 NuBit = $1. On the other hand, NuShares are allowed to fluctuate in price based on the demand of the network. The $1 peg is kept by NuShareholders, who vote in a decentralized way to manage the supply of NuBits. We also have a system of bots (NuBot) that automatically buy and sell NuBits on various exchanges to help maintain the peg.
The project was only launched in September, but we’ve already seen massive growth. The trading volume of NuBits has been substantial, consistently over millions of dollars, even surpassing Litecoin several times. These high trade volumes are possible because of the $1 peg. It’s something stable and predictable that people can rely on in volatile times. Rather than trading into USD, people can trade into NuBits and immediately have the ability to move their money on and off the exchange in crypto form.
Using this $1 peg, Jordan Lee plans on replacing Bitcoin as the intermediary trading currency between cryptos. At that point, mainstream adoption should be easier than it has been for Bitcoin because of the stable value of NuBits. Once NuShares are strong enough in price, we also plan on introducing other products, such as a crypto pegged to the Euro or the Yuan. There are unlimited possibilities here and with these high trading volumes we’ve seen recently, I think we’re well on our way to success.
I believe several of our team members have already contacted you, but I officially wanted to send a message to BTC-E myself on behalf of the Peercoin community to find out if we can extend our existing partnership to NuBits as well. We see great potential in a $1 pegged crypto. For once, we can call it a true cryptocurrency. If you’re interested at all in extending our partnership beyond Peercoin, please contact me at Sentinelrv@Gmail.com. You can also email the Nu team directly at info@nubits.com. It would be best to talk to each other first, so we can help you through the process of adding support. Our client uses 2 wallets for both NuBits and NuShares. We would also need to get our trading bots setup to help maintain the peg on BTC-e. Please get back to me if you’re interested. At the very least, thank you for continuing to support Peercoin as the original proof-of-stake crypto. Thanks!
