Vision for NuNet ecosystem with stable, non-volatile Bitcoins and Peercoins for end users

so say I have a specialized phone app.

Someones sends me btc to this phone app. It immediately sends the BTC to be sold for NBT. Boom - i’m safe.

Same token. Cofee shop I go to accepts BTC and that’s it. No Problem. My phone app sells the NBT in my account for the needed BTC to complete the transaction.

I can transact with any crypo-currency without being subjected to the volatility of them.



Yes, good use case. I would also add a PC app which also nicely integrates with your phone app addresses and config to have that ultimate user experience at both Point of Sale (POS) as in web shops as the banks offer or will offer soon.

i’ve read it, some things I don’t understand, or not agree with. Peercoin/Bitcoin is supposed to be the backbone, I see Nu as the, how you say it, frontbone?

are you proposing a NuBit version where the bits are pegged to Peercoin or Bitcoin? Like, autoparking the mined coins or something, flatlining the price with the NuBot magic? and using Nu as payment processor, to make 1 NuBTC always be 1 BTC (which, it already is, hmm dont know exactly what i’m saying)? I don’t think Peercoin or Bitcoin should be stable/flatlined. Maybe I’m not understanding it correctly still. It can only be stabilized in relation to, something else right? I mean, USD for now.

NuNet shouldn’t be a backbone imo, I see it more as a service, for now we still use the USD as world currency, until that changes (if ever), im still trying to understand what you mean with stabalizing Peercoin or Bitcoin, in the very long run I could see it maybe a little bit… I don’t know, when say BTC market cap is 100B or something, the price would fluctuate less probably, maybe you can explain it a bit more? I’m Sorry I’m not seeing your vision as of yet, and also for my incoherent writing :slight_smile:

edit: oh i see now what CoinGame replied, makes more sense now :slight_smile:

so it would make it possible to pay using every crypto (supported), using nubits? That would be awesome, still it wouldn’t stabalize BTC or PPC, well, maybe i just misinterpret what you mean with stabilizing, you pay with NuBit and the shop would get their crypto currency of choice? imo their choice should just be NuBits really, if they like to invest in PPC or BTC they can do manually, but maybe you are talking about an automated way for them to convert X% of their earnings to some of the crypto currencies of their choice?

Yes, using NuBits to prevent the value of your wallet from going up and down with the volatile cryptocoins.
Peercoin and Bitcoin would still be volatile, my idea makes it finally useful to have a stable crypto currency wallet for ordinary people not wanting to speculate and for merchants not wanting to deal or pay for payment providers, although a small fee for the instant exchanges would still be required to make it viable.

She’s talking about utilizing the advantages of the other coin communities. Bitcoin has pretty much the widest market acceptance right now. Instead of trying to fight them for it we work within that scheme (for now).

People will still buy NuBits, or have their other cryptos turned to NuBits automatically to stay safe. Then they’re not sitting around waiting for the world to accept NuBits because can they start spending them on stuff by having immediate conversion at the moment of transaction.

most shops use now for their btc/usd conversions right?
don’t know where exactly, but i think they are a piece of the puzzle… if they accept nubits as payment for their bitpay users (the shops, listing things using BTC price, or USD, but accepting BTC), shops wouldn’t necessarily dump the BTC on the market anymore, instead (have the choice) of keeping nubits, at some lower tx cost
idk, am i saying something smart here? like you guys :smile:

@CoinGame Indeed, Bitcoin et al providing the ecosystems, Nubits providing the stability for them required to use them as a currency.

@irritant I consider the payment providers as central solutions and middleman we do not necessarily require in the proposed system. The shops can hold Nubits themselves, only when they need to go to fiat they need an exchange provider.

Edit, with stable Bitcoins (read NuBits in the background) for end users, it will be easier for e.g. employees and suppliers to accept payments in e.g. Bitcoins or Peercoins as they will appear to be stable in value when using our instant exchange wallet (Nubex wallet?).

The challenge is getting bitpay to accept NuBits :stuck_out_tongue: If we had a system like @Cybnate is talking about we don’t have to ask anyone anything.

We would have one payment processing app to rule them all!

It’s 3am. I honesty haven’t thought through any sort of details because I can’t really think at all right now.

It seems like it would entice many people to purchase and hang onto NuBits much faster. They wouldn’t have to keep asking places to accept us. We’ll already be accepted anywhere that already accepts crypto. With the big advantage that they don’t have to worry about volatility.


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yes my brain needs a break too :wink: smells like brain vapor now, (4 am here) just my last 2 nubitcents for now:
shops are lazy, they dont care about bitcoin/peercoin/nubits, they dont care if the world ends, they only want their dollars, now more and more start accepting the crazy crypto money with the use of the centralized payment processors, if they would give the option for nubits, would be a great step in the transition from using usd to nubits, when they have time later they will learn it is better to just keep the nubits or something, with decentralized solution like Cybnate proposes , but shoedesigners just want to design shoes, bakers just want to bake bread and cakes, they dont know about economics because they have passion for other things , ok im out for now :slight_smile:

Frying brains here, hope it is only because of the late night for some people :wink:

@irritant Agree with merchants not caring about cryptocoins, but with what I call the NuBex wallet from now on, they can choose to deal with it like they deal with banks for their fiat. Some will keep their payment provider and probably end up paying for that and likely charging the customer and some will use the NuBex wallet at less cost as it was their bank account. As I said above, as soon as they realise that more and more people accept the cryptos and use NuBex wallets the less inclined they will be to use expensive payment providers. I accept that this will take time though, but one has to start somewhere and get the ball rolling.

I really like this idea Cybnate. I still personally view Peercoin as the future backbone currency but I can see the implementation of your idea providing a large amount of merchant acceptance without the merchants approval or awareness. This is really an idea that allows us to streamline merchant adoption and allow an immediate use case for NuBits. In the short-term, it will give us the merchant adoption of all cryptocurrencies while in the long term, give merchants more of a reason to implement NuBits, by volume alone. I don’t think people holding other cryptocurrencies will use this wallet but the people who are using NuBits will have a lot more buying power. I also don’t think this should be a collaboration. To be honest, I think other currencies will think this will help NuBits more than theirs, so they will not support it. It doesn’t matter. If this is made, it will give NuBits a considerable advantage. I would say this may even be disruptive within the cryptocurrency markets.
To add to your idea, instead of using shapeshift, make our own (or just buy shapeshift). This could be funded by the shareholders and provide revenues. This would provide lower middleman fees.
EDIT:(Actually after looking at the site some more, I think it may be easier to just use the service instead of taking all the development time/money to make our own.)

Great idea, Cybnate.

P.S. I absolutely love all the ideas coming out of these forums.

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dont know for sure, but, isnt the benefit for Bitcoin that merchants wont dump their BTC on exchanges? Now bitcoin adoption is reason why price is going down at times, i’ve heard, would exchanging them for NuBits prevent the sell pressure? guess maybe not… (yes i know i was out, still peaking here a bit :wink: )

Can we list NBT on, it’s very convenient and NBT is perfect for the platform as a backbone currency.

Buy Coins Instantly No Account Needed
"I’ve been waiting for a service like this. Great job!" - Charlie Lee, Creator of Litecoin

@irritant, please provide that fried brain of yours with some rest :wink:
I think the sell pressure will be the same initially, but with increasing adoption which this will provide the sell pressure will decrease as less will be leaking to fiat.

@Hibero I do think there is a case for collaboration as it will provide Bitcoin or Peercoin end users with a stable crypto wallet. You can even argue whether NuBits would have a good deal as the Bitcoin ecosystem might profit more from increased adoption than NuBits, at least in the short term.

Agree, this is nice to have, but a bit off-topic.

Services like also provide instant buying of coins for most Europeans.
They both use bots buying and selling on a real exchange in real time. Only when the exchange they use supports NuBits we can be added. It is just a matter of time.

I may have misunderstood your idea then. Does the wallet hold the currency in NuBits and just transfers out as any crypto you like? If that is the case, the reason I thought that most users would dislike doing that is because a lot of people are using cyptocurrencies as a speculative investment. With this sort of wallet architecture, users are losing the speculative side and the other cryptocurrencies are losing holders. So I would think that only people that want to use cryptocurrencies as a form of stable currency will use it (in that case they would be using NuBits anyway). There are tons of people using crypto as an investment though. This does not take away from your idea. I think it is a great one, especially for NuBits. I just think that most other cryptos wouldn’t like it because it does not bring their networks value. I think it would actually hurt them because if people did use it, it would create more sell pressure on their networks because people would be holding NuBits i.e. selling their crypto for NuBits.

I consider your idea as NuBit’s killer app.

Of course, I may be wrong though. Just my opinion.

Yes the so called NuBex wallet (working name) holds the value against the US$ in Nubits of the incoming cryptocurrency as it converts it into NuBits and converts it back into e.g. Bitcoins or Peercoins when the user wants to spend.You don’t have to use this wallet, speculators can still keep other wallets. But for end users wishing to have a stable wallet while still being able to use all the Bitcoin services and merchants accepting Bitcoins they would benefit from using the NuBex wallet. It will bring value to Bitcoin’s infrastructure as suddenly more people will start using it. At the same time the usage and demand of Nubits will increase providing the NuNet shareholders real value.

I agree that in the long term (many years) NuBits may develop their own ecosystem, but personally I’m not sure if that investment would pay off especially when it already exists (Bitcoin ecosystem) and new systems with far more capital than we have may also emerge. But that discussion is probably good for another thread.

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This is a GREAT idea!, it even will increase the accessibility of cryptocurrencies in Non-Banked regions with Scratch cards businesses which will be much easier, cheaper and user friendly solution than the volatile currencies scratch cards, It can even give the Non-Banked people an access to the online cash with much lower fees and with no minimum deposit or bank account needed!

I hope this idea to be realized soon and i wish i can help.

@teeneagle, I’m slightly confused by your response on my thread. How do you see scratch cards fit into this specifically?
Are you envisaging the combination of a NuBex wallet as I described it with NuBits scratch cards?

I see the advantage of the NuBits scratch card but I can’t make the link to my Nubex wallet vision, but that might just be my deficiency… Hope you can help me out to understand.

1- Scratch cards seems to be the best solution to buy any cryptocoin in a Non-Banked society like mine “Egypt”, as the cost of creating a bank account and wire transferring fees are ridiculous (City bank is closing this month), the only available solution right now is and no matter how much you search you will not find a better deal than paying an extra 10% of the market price, and only bitcoin is available now, so Scratch Cards -If the government didn’t baned it or enforced ridiculous taxes on it- will be the best solution.

2- Its EXTREMELY hard to get anyone here to trust cryptocurrencies, so who would ever want to buy Bitcoins ? even that Nubits are not volatile but they have no reason to trust its stability beside they cant spend it any where yet, so who would buy a Nubits scratch card!

From 1 & 2: A business startup can -again if the government allowed it or they managed to stay underground- provide the public with the precious access to online services and goods A)with super simplicity if they accept Crypto, and B)easily enough if they don’t:


A) Customer go to the startup website fund his wallet with the scratch card code, enter the Bitcoin/cryptocoin address provided with the merchant and he is done!

the change Nubits will be theoretically small so he wont worry about keeping a dollar or two in his online wallet!

*Here the startup will provide a familiar interface with familiar local currencies with no need to worry about entering the mysterious world of Bitcoin or Nubit.
*The Startup will use Nubex as its back-end processor of the exchange, while the front end deal with the interface and the scratch cards infrastructure deals with the accessibility.

B) Customer go to the startup website fund his wallet with the scratch card code, enter the Bank account/paypal address provided with the merchant and he is done.

*Here also the startup will provide a familiar interface with familiar local currencies, with a lower fees than the regular or internet Banking systems and no accounts, minimum deposit or any extra complications.
*The Startup may not need Nubex for instance exchange since Nubits are already stable and they can liquefy them anytime to refund their usd fiat account to pay to the merchants when needed.
*However, if the Merchant accepts some sort of fiat that can be handled by the Nubex bot (e.g Perfect money) then the Nubex will be used exactly as it used in A).

= If Pitpay and other crypto payment providers succeeded, the B scenario will happen less often, which is better.

=Nubits market volume will increase as a new market will be widely opened with no fears and complications to draw it back, which means more profits for Nushares holders.
=Un-Banked people will be introduced to the Nunetwork as the reliable network that gave them the accessibility for what they couldn’t afford before, and Eventually they will start to use the Nubex themselves and even recognize Nubits as trustworthy currency they can accept localy.
=Peercoin also will be recognized as a trustworthy store of value for big and long term investments as it will be known as the dividend coin for Nushares, and more importantly it shares the same network and community.
=Scratch Cards Startups will benefit from selling Nubits(the fast and cheap access to all the online goods and services) even when people start to use Nubex themselves, until the community is saturated enough or others start to provide better deal.

At least that what i hope and i doubt that the Egyptian government will allow this to occur or being affordable, the good news that Nubex doesn’t have to do anything here to help but existing :slight_smile: , nor it will lose any thing if it succeeded or failed!

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