NuBits price?

NuBits NuBits (USNBT)
$ 0.295059 (-13,75%)

What exactly is the problem?

it sank

I believe it was a combination of low liquidity and governance issues. Stability and price pegging is not an easy task for humans to accomplish through motion voting. Peercoin is already proving to be stable and hold its value against USD for over a year now from a low of $0.21 to about $0.40 today. Perhaps pegging to a currency that is continually declining at a significant rate against Bitcoin is too difficult to maintain.

What is interesting is that Peercoin’s annual inflation is already as low as %3.6 :omg:
Total coin supply Jun 15th 2015: 22,409,361
Total coin supply June 15th, 2016: 23,232,083.

It seems that the destroyed PPC from transaction fees, 0.01 PPC/kb, is also helping by mitigating the inflation from Proof of Work block reward. We are now seeing an incredibly low annual inflation and significantly lower rate from which PPC endured for the past few years. In the future (possibly near future) we could even see negative inflation and the coin could really start gaining value naturally. It’s becoming increasingly apparent that this coin is designed with foresight. Stability will be acheived and growth against World GDP will be the subsequent outcome due to the beauty of digital scarcity.

I truly hope developers from the Nu community reignite their passion for Peercoin during this time. Their help and experience will most certainly be beneficial to the network.

Edit:
Perspective: After the block reward halving Bitcoin’s annual inflation will start at 4.17% and work down towards 3.70% by 2020. PPC is the long term champion. Projects like PeerAssets will make the network more valuable due to destroyed fees for every transaction on the network.

[quote=“saeveritt, post:3, topic:3939”]What is interesting is that Peercoin’s annual inflation is already as low as %3.6 :omg:
Total coin supply Jun 15th 2015: 22,409,361
Total coin supply June 15th, 2016: 23,232,083.

It seems that the destroyed PPC from transaction fees, 0.01 PPC/kb, is also helping by mitigating the inflation from Proof of Work block reward. We are now seeing an incredibly low annual inflation and significantly lower rate from which PPC endured for the past few years. In the future (possibly near future) we could even see negative inflation and the coin could really start gaining value naturally. It’s becoming increasingly apparent that this coin is designed with foresight. Stability will be acheived and growth against World GDP will be the subsequent outcome due to the beauty of digital scarcity.

I truly hope developers from the Nu community reignite their passion for Peercoin during this time. Their help and experience will most certainly be beneficial to the network.

Edit:
Perspective: After the block reward halving Bitcoin’s annual inflation will start at 4.17% and work down towards 3.70% by 2020. PPC is the long term champion. Projects like PeerAssets will make the network more valuable due to destroyed fees for every transaction on the network.[/quote]

Great, you just gave people an incentive to raise exchange sell prices. I wasn’t hoping to see that quite yet. I need another year to try and at least own 1,000 PPC before it jumps. Fingers crossed it doesn’t move too fast yet.

That’s the thing about crypto, it does take awhile for things to “catch on” in the long term. Even now I can walk around in my neighborhood and ask people if they’ve heard of Bitcoin, and still, 90% of them haven’t.

Give it another 5 years, and most people might be using crypto without even knowing how it works. It will be the foundation and backend to transport and trust wealth transactions, meanwhile the front end interface will no longer look like a regular wallet.

How that will happen? I don’t know. Right know, crypto looks like Gopher did. Within 5 years, we’ll all be using AOL or Netscape.

Instead of “You’ve got mail”, it will be “You’ve got money”. :slight_smile:

I never believed in NuBits and was very sad to see people disengage from Peercoin, in favor of Nubits. Now hopefully the brain drain will reverse. I still believe that Peercoin is the best hedge against Bitcoin failure and preferred to owning risky USD derivatives.

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I really do hope we get to see more of sigmike and glv work in ppcoin repo.

Sometimes I want to post on nubits forum just to say “you see, I was right all along” but then I close the tab before I do it to avoid rubbing salt into fresh wounds.
I was never so much against Nu as Nu, but against Nu as blindly obedient and irrational community following egomaniac architect leader who thinks he is always right.

Even though many have not listened to me, my insight did save some serious dollars for a few in this community.

Hey peerchemist, I respect your perspective and insight very much, but I don’t recall any postings from you that expressed concerns about Nu early on. Did you make your feelings known only in the chatroom?

I bought some NSR almost entirely because of the reputation of the people involved and was fully aware of the highly speculative nature of the project. I’ve made many bad bets over the years and am fully prepared to live with the consequences of those decisions.

[quote=“sportscliche, post:8, topic:3939”]Hey peerchemist, I respect your perspective and insight very much, but I don’t recall any postings from you that expressed concerns about Nu early on. Did you make your feelings known only in the chatroom?

I bought some NSR almost entirely because of the reputation of the people involved and was fully aware of the highly speculative nature of the project. I’ve made many bad bets over the years and am fully prepared to live with the consequences of those decisions.[/quote]

No, I’ve posted something few times in chatbox but I did not try to persuade anyone. Whoever wanted to know asked me via private channels.
I have refrained from public criticism as I did not want flame-wars with fanboys and trolls.