Today is the official half-year birthday of NuBits! Released on September 23, 2014, NuBits have maintained a stable value for its entire existence. We are the first decentralized blockchain digital currency to ever continually maintain a $1.00 US price peg for 6 months.
Within the core team, we’ve often talked about how NuBits relies on an unofficial “proof-of-stability” belief mechanism, in addition to its protocol mechanisms. Each additional day that NBT maintains a $1.00 US value increases the confidence our users have in the peg being maintained over long periods of time. I think it is a remarkable accomplishment - and a testament to the robustness of @JordanLee’s design - that the price of NBT has been maintained as precisely as it has.
Nobody predicted the challenges Nu faced over the past few weeks, with major exchange thefts occurring at CCEDK, BTER, and Excoin. These thefts crippled over 99% of our active trading volume at the time.
Despite this, NBT have managed to remain $1.00 US. Brighter days are ahead; there are exciting things coming down the pipeline soon, some of which are being kept quiet (as is our custom) until they can be announced. The opening of the source code in the very near future will allow NBT to be featured on larger centralized exchanges that will help restore systemic demand for NuBits. We are in continual discussions with outside projects that have approached us about integrating NBT as a cryptocurrency substitute for USD. Best yet, our native Android wallet will be a game-changing tool for the Nu community once users are able to spend NBT anywhere that Bitcoin is accepted.
I’ve said before that 2015 will be the year of stable-value digital currency projects gaining popularity, and I still think that will be the case. Thank you to everyone reading this for making discuss.nubits.com such a friendly and productive place to visit each day.
Hopefully they will fix this in a later update.