Great start that is almost good to go. Some suggestions -
Somewhere mention that Nubits has the greatest marketcap of all stable cryptocurrencies and assets, acknowledging competition (which the PEG may realize) but showing Nu’s preeminence.
Add … with 1 minute block time. This is important to user experience.
Because the PEG has already integrated Bitcoin, mention something like “although integration Nubits to your system should be no more complicated than Bitcoin” to assure ease of entry around
We have a full exchange integration guide prepared to ensure a smooth transition for every exchange partner of ours.
… and welcome them to ask questions to the dev team or to the community at discuss.nubits.com.
The draft and the suggestions look very good. Allow me to give you my take, to introduce a slightly different angle.
I think that both the draft could be sent like it’s worded and each of the suggestions is worth being included.
I was thinking about including the NSR holders into the introduction as you speak on behalf of them as well. But I think that does sound too much like selling something (which you try, but without the NSR holders it sounds less so )
I’m hesitant about mentioning the Android wallet. Basically it’s a competitor of iPay, VISA payWave and the likes. It’s not as widely distributed as the latter ones are, but compared to them using NuBits is cheap and without the hassle of back charges.
The Android wallet is in a great position, but currently lacks distribution.
That’s a good pars pro toto of the chicken and egg problem NuBits are in…
…I think it should be in the text.
Here’s my take.
The first part is important - you can’t rely on Bitcoin’s value. If people were hoarding more and more and you could rely on that, the price would rather go north than change a great deal from day to day.
Bitcoin’s liquidity is high, but so is the volatility.
With NuBits only the liquidity is high; volatility compared to USD is 0.
What about
I don’t know whether it would be beneficial to add what I’ve inserted in bold letters.
I don’t know whether that pulls attraction to the fact that a system like NuBits can be under heavy load. I prefer adding it, because even if you hadn’t thought of it before, you see the scenario and learn that this doesn’t impact the reliability of NuBits if there’s heavy load.
I like the rephrasing by @Nagalim very much, but allow me to play the grammar nazi - I don’t want this tiny correction not to be included in the letter.
In difference to @mhps I’d rather focus on Nu’s capability to support daily trading volumes in the millions as it already has shown in its past.
While that’s important if one tries to understand how NSR are tied to NBT and that the market capitalization is important to be able to keep the peg, it’s nothing for the first contact.
What about
While this might not be true for every single day, most days it is - by far.
This is what PEGs should be more interested in than the market cap.
I second that the next one is important (at least imho). One of the attributes that’s liked at LTC and DOGE.
Before I write more about bits and pieces, here’s a version with all updates I’d make (I’ve changed $1.00 US to 1.00 USD). It looks like I’ve completely written it; yet it’s just an altered draft.
I think saying too much about NSR holders in the first letter will unnecessarily complicate the picture. PEGs are in the simple business to trade e-currencies, Like most currency exchangers you see at the airport, they don’t care how the countries issuing the currency run.
Also note that many if not most PEGs are run by non-native English speaking people so I think we should keep the letter short, focused, and easy to understand in language and in contents.
Tether has been having significantly more volume than Nubits for at least the last two days. The volume is all concentrated on bitfinex, the largest exchange. So we can say that Nubits has the widest adoption and market cap, but we can’t say it has the greatest trading volume.
Outreach and increasing adoption are important. Let’s hurry.
I also think we should undersell on statements like “largest trading volume”. As far as NSR holders, really all we need to tell them is that we take the place of miners for securing the network and that we are working to keep the peg.
So far PEGs most sell centrally issued e-currencies such as PerfectMoney-USD. Not all of them know or really care how exactly a cryptocurrency works. All we need to tell them are that NBT is attractive, integrating NBT is as easy as installing BTC, and the devs and the community is here to help.
If a PEG is very interested in Nu we could point them to the knowledge base and even welcome to become shareholders.
So far Tether has bigger volume than Nubits. But since Tether is centrally issued cryptocoin redeemable at $1 at a centralized company, so it’s movement is facilitated by a blockchain but its value is totally dependent on a centralized body. There is little difference, in terms of security of value, in Tether than other e-currencies such as BTC-e-USD, PerfectMoney-USD, OKpay-USD …
I just noticed coinoUSD has a bigger marketcap than Nubits at coinmarketcap. However as shown here, more than a million coinoUSD has been created, presumablly mostly unsold judging from its daily trading volume. You could generate 1 trillion coins and sell one for $1 and have a trillion dollar marketcap. The marketcap doesn’t mean much. From here, there is no mechanism to guarantee the future value of 1 coinUSD. You have to depend on the issuing site to actually have the money to redeem coinoUSD, just like Tether.
So Nubits and bitUSD are the only distributed trustless crypto currency or asset aiming to have a stable value at $1.
Well in the last 24hr Tether volume was $27 and Nubits was more than $8,000. I guess the marketcap and the volume pictures are too complicated to be useful.
@tomjoad, could you integrate inputs from the community using your discretion and make a new version of the letter? I think we are very close to contacting PEGs.
Went back and forth on a few different wordings, but I’ve incorporated many of your suggestions above. I think this is about as long of a letter as we should write; anything more is overkill on a first contact. What do you think?
Hi [PEG NAME]
My name is Tom and I’m writing on behalf of the NuBits development team. We are interested in exploring a potential partnership with you that we think could significantly increase your client base, for very little (if any) cost.
One of the main barriers your company faces in offering Bitcoin services is that Bitcoin’s value can change a great deal from day to day. This is a problem because most users “hoard” Bitcoin in the hopes it will increase in value. This isn’t very practical for a currency. There have been many recent stories lately about retailers who are removing Bitcoin payment options because there simply isn’t enough demand for a volatile digital currency like Bitcoin.
Consumers want to have stability in their cryptocurrency, and that’s where we can help you grow your business. NuBits is the world’s first stable digital currency, created from a fork of Bitcoin and Peercoin. It has closely maintained a $1.00 US peg since September 2014. A group of interested shareholders secures transactions and uses protocol votes to ensure the $1.00 US peg is maintained. Consumers have responded positively to NuBits, as it has often achieved the top daily trading volume for all stable cryptocurrencies.
We believe NuBits is the first cryptocurrency that is suitable for use in consumer payments platforms. Consumers demand stability in their currency and NuBits delivers it with its $1.00 US price peg.
Would someone from your organization be available to chat with us? We have a full exchange integration guide prepared to ensure a smooth transition for every exchange partner of ours. You can find it here [LINK]. Because you have already integrated Bitcoin, integrating NuBits into your system should be simple and straightforward.
@tomjoad please get ready to send the message to the first batch of candidates. Can you answer my question above
The Greek crisis may not turn out to be Cyprus scale on increasing cryptocurrency awareness but it for sure will make some people think of buying electronic form of money. Electronic forms of money don’t have to be cryptocurrency. But any form of e-currency will bring business to PEGs. It’s is likely that the event will stimulate many PEGs into action. Nubits is unique that it is e-currency and it cannot be controlled by a single government and it has stable value. Users looking for safeheaven will like it.
We shouldn’t waste this opportunity for more adoption in the real world.
Traders will be speculating that crypto commodities will rise.
So bitcoin price is likely to go up.
But I am skeptical that even a small portion of Greek will buy bitcoins because it does not seem popular over there since it seems it has a ponzi scheme reputation.
And the volatility again does not make it a good store of value, as alaways.
So let us bet that they will be turning to NuBit instead, even a tiny portion
But beyond Greece, the crisis will spread to EUR and USD, I feel by Sep~Dec 2015.
We can expect a devaluation of the EUR and USD.
Now, it is a great opportunity for NuBit to show its colors.
I think @erasmospunk is Greek and If he wants and find some free time he could write or just help translate an article about NuBits and popularize it in the Greek media. Unfortunately, I think he is very busy with B&C Exchange now.
@tomjoad Thank you. Nu actively expands into PEG business. An outreach milestone.
This is also a test of actual acceptance/resistence level of how established internet e-currency environment accepts Nubits.
Bitcoinpaygate - No response
Walpay - No response
Bitcoinpay - Declined
Bitpay - Standard “we’ll contact you if we consider it in the future” response.
Coinify - No response
Appreciate the report @tomjoad . Did bitcoinpay give any reason to decline?
Anyway let’s send to another batch of PEGs. We can go back to the ones with no response every other week in case the message has been lost in their mails.
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