While an entire team of IT professionals have been working privately to bring you the NuBits project for 5 months, public NuBits activity is just now slowly but surely ramping up. The seemingly cryptic messages you are reading from the NuBits team hint at a future cryptoeconomy that will look very different from the volatile markets that exist today. Peercoin is poised to play a meaningful role in the innovative solution we are building.
The next step in building awareness is launching a splash page for NuBits at www.NuBits.com, which is available now. Many more details and tools will be released on the NuBits.com website at an appropriate time in the future. Once we have a firm release date, the random hashing values will change to a release countdown.
Something Nu is coming in 2014, and we are eager to share it with the world.
Jordan - your credentials on this board are impeccable and I have no doubt that you are a skilled developer. In all humility, however, the seeming bravado surrounding this project gives me pause. What is gained by building so much anticipation around “cryptic” messages? If work has been going on silently for 5 months why draw attention now?
[quote=“David”][quote=“fredrick, post:3, topic:2605”]Jordan - your credentials on this board are impeccable and I have no doubt that you are a skilled developer. In all humility, however, the seeming bravado surrounding this project gives me pause. What is gained by building so much anticipation around “cryptic” messages? If work has been going on silently for 5 months why draw attention now?
(playing Devil’s advocate >:D)[/quote]
A devil’s advocate mentality is always healthy!
I can only speak for myself, but we are explicitly avoiding making any sort of promises or engaging in “bravado”. We subscribe to the “under-promise, over-deliver” strategy of releases. All we’ve posted so far are two tweets that vaguely refer to a common theme, a few forum posts that provide reassurance to the Peercoin community that we care about the long-term viability of PPC, and a splash page with one quote. Anything less than this level of activity would be a passive disservice to the hard work put in by the NuBits development and QA team.
The reality is the cryptoeconomy is saturated at the moment with new releases everyday. So, the community should expect more, not less, communication from us in the coming weeks and months. Great ideas have died before maturity without proper branding and marketing, and we do not intend on making that same mistake.[/quote]
I think he might be referring to “cryptoasset game changer” and " Some might even call this the most important development in the cryptoasset space since Bitcoin was released." These make me excited, but uncomfortable at the same time. It makes me uncomfortable because they seem a little over the top and I don’t want people’s expectations to be raised to astronomical levels, only to be underwhelmed. I’d just be a little more careful here.
[quote=“fredrick, post:3, topic:2605”]Jordan - your credentials on this board are impeccable and I have no doubt that you are a skilled developer. In all humility, however, the seeming bravado surrounding this project gives me pause. What is gained by building so much anticipation around “cryptic” messages? If work has been going on silently for 5 months why draw attention now?
(playing Devil’s advocate >:D)[/quote]
This project is apparently only months away from release. It seems what we’re seeing is the start of the marketing.
Wow, I must say it is truly exciting to continue hearing this level of enthusiasm. In addition to investing some Peercoin, I hope this community will be able to contribute to the success of project in other ways as well. By the time the news hits mainstream media this board could become a major source of well-informed supporters.
Everyone on the team is really excited to be working on the NuBits project. I can’t wait for the day we get to discuss the project in detail. It will appeal to a variety of people in different ways. We’re working tirelessly to share this with everyone as soon as possible. I’m going to go make myself a sandwich and then get back on it right now!
@nox- NuBits is an implementation of the Peershares template.
The article tweeted by NuBits made me think of this reply by Sunny King, when I asked him whether we should market Peercoin as a savings cryptocoin…
[quote=“Sunny King”]The savings approach is fine with me, as I have explained in that way regarding the current transaction fee policy. But keep in mind this is relative to bitcoin, as currencies serve all three monetary properties (store of value, medium of exchange, unit of account) at the same time, but may excel at different aspect. We can argue that peercoin serves as store of value better than bitcoin.
Aside from transaction fee, I think the long term security prospect also favor peercoin for store-of-value function. Of course, that doesn’t mean it won’t serve medium of exchange function as well.
I am strongly sceptical regarding the possibility to have a currency used nearly exclusively as a storage medium: would you put your life savings into something you cannot even use to buy a cheeseburger?
Currencies only become safe to use when they are widely accepted for other currencies, goods or services. Otherwise, you could find yourself clutching a worthless bag of tulips as soon as the wind blows the other way. I don’t think turning our backs on the use of Peercoin as a medium of exchange would do us any good.
IMHO we should develop Peercoin into a medium of exchange as much as into a store of value.
[quote=“arkanaprotego, post:16, topic:2605”]I am strongly sceptical regarding the possibility to have a currency used nearly exclusively as a storage medium: would you put your life savings into something you cannot even use to buy a cheeseburger?
Currencies only become safe to use when they are widely accepted for other currencies, goods or services. Otherwise, you could find yourself clutching a worthless bag of tulips as soon as the wind blows the other way. I don’t think turning our backs on the use of Peercoin as a medium of exchange would do us any good.
IMHO we should develop Peercoin into a medium of exchange as much as into a store of value.[/quote]
He didn’t say “Nearly exclusively.” He said it may excel more in the area of store of value, but “that doesn’t mean it won’t serve medium of exchange function as well.” We also need to think about Open Transactions, which should also allow for instantaneous off-blockchain transactions in the future.
This makes sense. However, gold seems to have taken that place in our society. Gold bricks are worth a lot, and are nearly useless. Is this a contraction example?
I know, but I just don’t like making the savings aspect (look like) a priority. From a discussion I had on Reddit, I know some people think the “medium of exchange” aspect and merchant adoption are completely useless, and I don’t want to encourage that. They believe Peercoin will rise to Bitcoin-like values only because it is a store of value, and I don’t share that belief at all.
I think this isn’t completely true. Granted, I don’t think you can buy a cheeseburger with a flake of gold anywhere.
But in my opinion, gold is a commodity with true (material) demand: gold is commonly used in high-end electronics. It also has aesthetic and symbolic value (jewels). While aesthetic and symbolic value won’t feed you, I think they are much more robust than faith in a currency, but that’s only my opinion.
This makes sense. However, gold seems to have taken that place in our society. Gold bricks are worth a lot, and are nearly useless. Is this a contraction example?[/quote]
This makes no sense whatsoever. It is probably written by someone so young and so immature that he has no life savings and thinks of money in terms of cheeseburgers! A large amount of “life savings” wealth is held in stock (ownership of companies) but do you use stock certificates to buy cheeseburgers? Far greater than the amount of wealth held in stocks is “life savings” held in bonds. There are trillions upon trillions of dollars worth of “life savings” held in government, corporate and municipal bonds. There is enough economic value held in bonds to buy the combined McDonalds, Burger King and Juicy’s hamburger franchise chains a thousand times over, but do you use a bond to buy a cheeseburger?
I would NEVER put my life savings into anything I could use today to buy a cheeseburger. I would consider doing such to be an incredibly naive thing to do. No offense intended.