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

NuShares Motions
#41

This motion has passed.

@assistant motion vote 3ca45d3b51b92cac1e8e58b1b515f14bfec44973

2 Likes
#42

Bright news

#43

At one time I saw it getting more than 70% blocks. Thanks everyone who voted!

2 Likes
#44

Can you please outline the expected course of actions?

#45

What I think a logical course of actions are, as listed in the motion, is -

1 Prepare the Nu Exchange Integration Guide

  • Discuss the Nu Exchange Integration guide improvement here.
  • Formulate an LPC grant proposal template here.

I hope @tomjoad can take an active role in the abve steps.

2 Contact a list of selected PEGs

  • Determine the first-round contact list based on discussions of the near and mid term plan.
  • I hope @tomjoad can draft the email / message to send to the PEGs because he writes so well.
  • Send the messages presumablly by tom

3 Help the PEGs to integrate Nubits

I think the tech staff of PEGs will ask questions in the forum or send PM/emails to Nu team developers. Nu team developers should actively help them out.
The complexity of integration should be much less than that to cryptoexchanges because most PEGs donā€™t allow users to ask/bid. There is no orderbook.

4 Contact more potential partners

Based on experience of the first round of contacting and integrating, contact more PEGs, again presumablly by @tomjoad.

2 Likes
#46

Iā€™m happy to work directly with @mhps on implementing his vision in the steps above. I will always follow the instructions set by NuShareholders when they pass a motion requesting my involvement with an initiative.

6 Likes
#47

Hi @creon

Here are the details for the Motion Vote on 3ca45d3b51b92cac1e8e58b1b515f14bfec44973:

##3ca45d3b51b92cac1e8e58b1b515f14bfec44973
Blocks: 5354 (53.540000%)
Share Days: 2228315646 (55.026852%)

#48

This is great.

In step 1 of the course of action, I have submitted the suggested change of Nu Exchange Integration guide. Can @Ben please go on with the LPC grant proposal template thread?

Itā€™s important to start step 2 of the action now.

@tomjoad could you please go through the two lists of PEGs in section 2 of the near-term plan post and check every of them tp see if there is a contact address suitable for sending a Nubuts integration request? Note that some of them donā€™t accept US customers so a non-US proxy is needed to browse the site from the US. Please post what you find out in this thread as how many of them have a contact point.

The purpose of doing this is that with the information gathered a list of ā€œfirst contactā€ can be made, and the message to them can be drafted. Although all messages will have the common parts (1 introduce Nubits, 2 invite to integrate Nubits, 3 point to the integration guide. 4 welcome to ask questions to the dev team by PM or in the forum), I suspect the message might need to be slightly tuned for different type of PEGs. So I think itā€™s important for @tomjoad to go through them and get a handle.

2 Likes
#49

Several other issues have taken my attention but Iā€™m starting in on this now. Hope to have something presented for you here in the next 24 hours.

2 Likes
#50

No problem. Thanks for letting the community know. You are doing great.

1 Like
Park Rate Voting
#51

Any progress @tomjoad ? I know you get a lot of things to do. I think it will be efficient if you could start with a few of the PEGs and if you encounter problems you can report here so the community could spend time on them.

2 Likes
#52

This took way longer than I expected. Iā€™ve compiled about 20 different providers, most of whom do not have email addresses listed (instead, they have support tickets to be filled out to contact customer service). This includes many that I did secondary searches through gethuman.com.

In my research today I came across this website: https://www.about-payments.com/knowledge-base/providers

I think itā€™s a treasure trove of everything we need as far as contact information and company information goes for online payment providers. Could you take a look at it and see if it will suit your needs for this project? If this was posted somewhere and I missed it, my apologies.

You can search by payment type. A sample company profile for Skrill is here, and a contact email is included: https://www.about-payments.com/knowledge-base/provider/skrill

1 Like
#53

Great find, @tomjoad ! I think we have to look for businesses that are already offering crypto so that integrating nubits isnā€™t too technical challenging.

I did a search https://www.about-payments.com/search?query=bitcoin and find the following providers (together with a lot of news items):

https://www.about-payments.com/knowledge-base/provider/bitcoinpaygate
https://www.about-payments.com/knowledge-base/provider/bitmerch
https://www.about-payments.com/knowledge-base/provider/walpay
https://www.about-payments.com/knowledge-base/provider/bitcoinpay
https://www.about-payments.com/knowledge-base/provider/bitpay
https://www.about-payments.com/knowledge-base/provider/coinify
bips (acquired by coinify)

I think with the emails you have found and the above it is enough for a first run. Itā€™s not a bad idea to start with a smaller step to get feed back quickly and possiblly adjust our strategy.

When a few of the PEGs successfully integrated Nubits, they will become models for those we canā€™t contact to see, who may even to reach out to us.

#54

@tomjoad, has there been any progress? Can you start to draft the message to candidate PEGs according to the suggestions, and post it here?

1 Like
#55

Hereā€™s a first draft. Please critique and edit it as you think is necessary.

Hi [PEG NAME]

My name is Tom and Iā€™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 Bitcoinā€™s value can change a great deal from day to day. This is a problem because most users ā€œhoardā€ Bitcoin in the hopes it will increase in value. This isnā€™t very practical for a currency. There have been many recent stories lately about retailers who are removing Bitcoin payment options because there simply isnā€™t enough demand for a volatile digital currency like Bitcoin.

Consumers want to have stability in their cryptocurrency, and thatā€™s where we can help you grow your business. NuBits is the worldā€™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 use protocol votes to influence the supply and demand of NuBits to ensure the $1.00 US peg is maintained.

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].

Thanks, and we hope to hear from you soon.

Tom

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

3 Likes
#56

Good stuff here, well doneā€¦

A group of interested shareholders secure transactions and use protocol votes to steer the business of ensuring the $1.00 US peg is maintained.

2 Likes
#57

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 Nuā€™s preeminence.

Add ā€¦ with 1 minute block time. This is important to user experience.

Because the PEG has already integrated Bitcoin, mention something like ā€œalthough integration Nubits to your system should be no more complicated than Bitcoinā€ 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.

ā€¦ and welcome them to ask questions to the dev team or to the community at discuss.nubits.com.

2 Likes
#58

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 itā€™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 :wink: )

Iā€™m hesitant about mentioning the Android wallet. Basically itā€™s a competitor of iPay, VISA payWave and the likes. Itā€™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.
Thatā€™s a good pars pro toto of the chicken and egg problem NuBits are inā€¦
ā€¦I think it should be in the text.

Hereā€™s my take.

The first part is important - you canā€™t rely on Bitcoinā€™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.
Bitcoinā€™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 donā€™t know whether it would be beneficial to add what Iā€™ve inserted in bold letters.

I donā€™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 hadnā€™t thought of it before, you see the scenario and learn that this doesnā€™t impact the reliability of NuBits if thereā€™s heavy load.

I like the rephrasing by @Nagalim very much, but allow me to play the grammar nazi - I donā€™t want this tiny correction not to be included in the letter.

In difference to @mhps Iā€™d rather focus on Nuā€™s capability to support daily trading volumes in the millions as it already has shown in its past.

While thatā€™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, itā€™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 thatā€™s liked at LTC and DOGE.

Before I write more about bits and pieces, hereā€™s a version with all updates Iā€™d make (Iā€™ve changed $1.00 US to 1.00 USD). It looks like Iā€™ve completely written it; yet itā€™s just an altered draft.

1 Like
#59

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 donā€™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 canā€™t say it has the greatest trading volume.
Outreach and increasing adoption are important. Letā€™s hurry.

#60

I also think we should undersell on statements like ā€œlargest trading volumeā€. 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.