Reframing NuBits as an Ally to Other Crypto Communities (rather than a direct competitor) and a Gateway to Mainstream Adoption

I believe the biggest thing preventing mainstream crypto adoption is the price volatility issue. This is one of the main reasons why Bitcoin, Peercoin or any other crypto has failed to be adopted by normal people as a day to day transactional currency. People can’t save their money in crypto. They can’t price their items for sale in crypto. They constantly have to do value calculations. It’s a big pain in the ass to use a price volatile crypto, so why would normal people even bother? It’s easier for people to just continue using fiat.

NuBits changes the entire game though. For the first time, 1 NuBit is always equal to $1. This provides regular people something already familiar to them, a crypto pegged to a currency that they already use, eliminating the largest barrier to entry for many. Because of this, I believe that NuBits can act as a gateway to mainstream crypto adoption. There are still other barriers, like ease of use or ease of obtaining cryptos, but I believe the largest one was price volatility.

I’ve been thinking about how we should act toward supporters of other existing volatile cryptos, such as Bitcoin, Peercoin, etc… I don’t think we want to act as competitors and make enemies out of these people. Instead, we should show them how NuBits can help them. If NuBits can act as a way to transition regular people from fiat to crypto (because of its price stability), then I believe that should benefit everyone involved in crypto, no matter what coin they support.

Regular people would be introduced to using crypto through NuBits, but it doesn’t have to end there. I’m sure some of these people will look to see what else is out there. They’ll find Bitcoin, Peercoin and others and buy them too for whatever reason they decide. This wouldn’t have taken place though if NuBits hadn’t acted as a way to get these people involved in crypto in the first place.

So I’m thinking that when dealing with other crypto communities, part of our messaging should be convincing people that it is in everyone’s best interest to support NuBits and to make sure it succeeds, since NuBits will ultimately aid in bringing mainstream adoption and allowing regular people to enter the crypto world. In this way, NuBits becomes an ally to all crypto communities, rather than an enemy or direct competitor. The end result is more support for NuBits from other coin communities, more developers, marketing help, LPCs, etc… They would see NuBits as a tool or gateway to bring more people into the crypto world and help further the adoption of their own cryptocurrency, whether it’s Bitcoin, Peercoin or something else.

Does anyone agree with this strategy or think it will be convincing to supporters of other crypto communities? I know some people view NuBits as an evolution of Bitcoin and Peercoin and thus is superior (and I agree with this), but I don’t see any reason why more adoption can’t help existing volatile cryptos as well. I think it’s important to reframe NuBits in the minds of everyone as an ally, rather than a competitor, and this is an argument that can be used in our favor to increase support of Nubits. What do others think?


It could attract users momentarily (short and mid term) to NuBits.
Reason: it appears that in your strategy Nu is seen as a means to an end.

Inversely, I believe that the single most important end that all ppl involved in “cryptocurrencies” want to achieve is: a currency on the web.
And I think Nu has demonstrated so far the biggest ability to achieve it and constitute actually that end.

this is the correct attitude, i totally agree

I absolutely agree. I am most interested to see NuBits in action on open and decentralized exchange platforms when they are available, stable, and trustworthy. This will bring some sanity to the alt markets and I think NuBits will be a natural ally to all. But only if we get some penetration into an exchange with liquid USD operations. There must be a bridge to get from Nubits back into the traditional finance system before it will muscle it’s way into the altcoin trading market as a base currency.

Do you mean to say that NuBits would only be a transitional currency to Bitcoin, Peercoin or something else? As I said, a lot of people see Nu as a superior evolution in crypto design, but it’s impossible to know what will happen in the end. All I’m really saying here is that NuBits has a better chance than any other crypto right now to increase mainstream adoption. As more regular people start to use Nubits, they will become aware of the other volatile cryptos. Whether any of those new people buy Bitcoin and Peercoin as well or just continue to use only NuBits is up for debate. The main point is that Nu will increase crypto awareness and adoption and there’s a possibility that this increased adoption could lead to more use for other cryptos as well, benefitting their supporters in the process, thus Nu benefits everyone involved in crypto.


Mainstream adoption can only be achieved by making things more user friendly based on known concepts.
Recently I have seen an effort in Bitcoin community to create low-entry, non-tech wallets which your granny should be able to use. Our native NuBits wallet is still a far cry from that, although we are ahead of many other cryptos with the design and our stable coin.

Also the integration with social media would increase adoption. A plug-in for NuBits like Shapeshift Lens did for Bitcoin addresses and Skype has for phone numbers would help. Just bundle them and install such a plugin by default with the wallet. The plugin would automatically open the wallet and read QR codes and addresses leaving the user only to press send and a passphrase for security. Combine it with BitID to further improve security and ease of use.

My apologies, I went slightly off-topic to set the context.

I do agree that we should outreach and not make enemies of Bitcoin or Peercoin users. They can both co-exist in the ecosystem but would serve another purpose than a currency (at least in the short to mid-term). I noticed that BitShares also seems to embrace Bitcoin community as a strategy while they are in the same position as us for good reasons.

It is important to show the support NuBits can provide on adoption of crypto coins and their ecosystems will ultimately benefit all of us. One can even argue that in the long-term, when importance of fiat is reduced, a currency pegged to fiat no longer makes sense and blockchains like Peercoin might take over certain aspects of the currency role. Therefore I believe that NuBits as a pegged currency to fiat is indeed a transitional model. However that doesn’t stop the NuNet in general to evolve further in the long term and extract its value from other sources of value.

So I think my point is that any messaging needs to go alongside a strong development roadmap of where we want to be and what is required to get us there. After all we don’t want to sell “baked air” (Dutch saying) or be another empty promises coin. I noticed that our wallet is now feature complete with the addition of the datafeeds in 0.5.3 looking at the whitepaper and the diagram. It is good to see this thread about our positioning going forward and I hope more people chime in.

  • What cryptos need is a use case for the mass.
    Just being a hedge for the bitcoin traders is not.

  • What do you exactly mean by people starting to use NuBits? i.e. what use case?

  • In our marketing strategy, we must be very clear and consistent to what we have put forth so far., nubits videos clearly put forth nu as the ultimate goal and not as a Bitcoin supportive role.
    But I guess, things change along the road.

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High liquidity is very important though. Traders do help with that.

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I believe we should be for Nu and not against anyone. :wink:
If Nu is useful then other crypto communities will realize that.
That is why I think it is not necessary to make some deliberate efforts to appeal to other cryptos at that stage.