[Passed] Promoting Nubits to internet payment processors, exchanges, and gateways

[Nagalim]

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.

[mhps]

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.

[mhps]

greatest daily trading volume of all stable cryptocurrencies and assets

Tether has been having significantly more volume than Nubits for at least the last two days.

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.

[mhps]

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.

[mhps]

@tomjoad, how is the letter in its ready form? Is there anything the community could do to help?

[tomjoad]

@tomjoad, how is the letter in its ready form? Is there anything the community could do to help?

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.

Thanks, and we hope to hear from you soon.

Tom

Contact: info@nubits.com
Website: https://nubits.com
Forum: https://discuss.nubits.com

[mhps]

Thanks @tomjoad. This is excellent. It just needs the link which @CoinGame said we can use the current one.

How many contacts are found from section 2 of the near-term plan and the list from about-payment.com?

[mhps]

@tomjoad please get ready to send the message to the first batch of candidates. Can you answer my question above

How many contacts are found from section 2 of the near-term plan and the list from about-payment.com?

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.

[cryptog]

The Greek crisis may not turn out to be Cyprus scale on awareness cryptocurrency

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.

[Mark]

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.

[Sentinelrv]

Wow, I didn’t know this. That would be an awesome opportunity if we could capitalize on it.

[tomjoad]

Update: initial emails have been sent out to the following companies:

Bitcoinpaygate
Walpay
Bitcoinpay
Bitpay
Coinify

BitMerch appears to be defunct and was not included.

Let’s give these companies 7 days to reply and we can adjust our strategy based on the responses we hear back.

[mhps]

@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.

[tomjoad]

Update July 6th:

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

[cryptog]

why that lack of interest?

probably they are too old-fashioned to even consider accepting nubits.

Nu needs probably its own payment processor and gateways.

We cannot count on entities that reject change.

[mhps]

Update July 6th:

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.

[tomjoad]

Did bitcoinpay give any reason to decline?

Unfortunately nothing concrete. Here is their email reply:

Dear Tom,

we are sorry, but we do not have plans on using nubits.

Daniel.

I will try and send another batch of PEG emails in the next day or two, including follow-ups with those PEGs who haven’t responded.

[mhps]

This is excellent. Even they declined, the communication channel is open. It’s a valuable resource. Nu may someday become an important node in the web of payment businesses, although we can’t see how exactly now.

For example I think liquidity provision by NU to PEGs could be possible. An important indicator of PEG competitiveness is how much liquidity in reserve a business has. Nu could leverage its expertise on liquidity operations to provide on-demand B2B liquidity to PEGs. It’s like lending but it’s also utility provision.

[mhps]

Recommended by this post, 247exchange has been engaging the peercoin community for more than a half year, showing that it is familiar with peercoin and can follow things through. The exchange appear to have good service providing fiat currency. So I suggest we contact it soon.

[mhps]

Any progress? @tomjoad