I posted this to Reddit as well. I hope you all take this seriously. I’ve been disappointed lately about the lack of support for Peershares projects from this community…
http://www.reddit.com/r/peercoin/comments/35n7v1/our_dependence_on_btce_is_both_unhealthy_and/
I saw this post by freudscat in the B&C thread and thought it deserved its own thread. This is a very important issue that I think a lot of people are completely ignoring…
"I am a long-term investor in Peercoin. My PPC are continuously at work securing the blockchain, and I don't plan on getting them anywhere near an exchange in the foreseeable future.That being said, not a day goes by that I don’t worry about opening the news and finding out that BTC-e has been hacked, corrupted, or collapsed. What would become of all the brilliant work that has already been accomplished here if BTC-e goes under while we’re asleep tonight? Are we willing to stand by and watch our vision for the future die off into a forgotten footnote?
I hate to say it, but it’s naive to think that Peercoin could survive the loss of BTC-e. The Peercoin community I love needs to take action now and support our brethren in launching B&C. Regardless of your opinion of NuBits or Jordan Lee, the decision to bid on this auction should not be considered optional to holders of Peercoin.
The survival of Peercoin depends on the success of decentralized exchanges. We cannot afford to delay. Please ask your questions now or place your bid. In my opinion, doing nothing is forfeiture."
I agree 100% with this post. Just look what happened to Primecoin when btc-e got rid of it. It has descended into irrelevance and is currently sitting at #59 on Coinmarketcap. Continuing on our current path of dependence on btc-e is both unhealthy and dangerous for Peercoin’s future. Please do your reseach now. There is almost 1 day left to make sure the fundraising is successful…
Another thing I’ve been wanting to talk about, there seems to be some type of divide or disconnect between the Nu and Peercoin communities that I can’t understand. I’ve felt it for a while now. Nu was born from Peercoin and we share many of the same members, me, Ben Rossi, Master_of_Disaster, Chronos, Cybnate, Sigmike, CoinGame, mhps, Jordan Lee, etc… But at the same time, there seems to be so many people in the Peercoin community that have no clue what goes on at Nu. They just simply never followed along when it launched. I don’t understand this, because I believe our fates are intertwined and many people that are active in both communities recognize this as well.
The success of Nu will bring Peercoin up along with it, as it’s the dividend coin for Nu. There are people that seem to believe that Nu has distanced itself from Peercoin, since the proceeds of NuBits sold are now used to purchase NuShares and burn them, rather than using the proceeds to purchase Peercoins and distribute them as dividends to shareholders. This change was done because it’s more sustainable for the Nu system, not because Nu wanted to distance itself from Peercoin. Nu is a decentralized business, and like any business we can’t buy Peercoins and distribute dividends to people without first making a profit. Once NuShareholders figure out ways to make consistent profits for the network, I’m sure dividends will start back up again, but not before then. It would be unwise to do it any other way. It’s common business sense.
Also, there are people that believe NuBits are competition for Peercoin. Nu relies on pegs to real world currencies where Peercoin doesn’t. I believe they’re both complementary, but different. We shouldn’t be enemies. We should help each other out because we’re in this together. Another thing is that there are people when Nu launched that couldn’t get in touch with Jordan to purchase NuShares because Bitmessage was malfunctioning at the time. Many of these people gave up trying to communicate with Jordan and never got involved with Nu. Others had the chance to get involved, but didn’t because they believed the parking mechanism made NuBits unsustainable in the long-term. I believed this was true as well, but stuck with them because I believed the Peercoin community was smart enough to solve the issue in Nu and since September we’ve completely changed the design to a more sustainable model capable of reducing the supply of NuBits. All it took was time and patience.
To all these different types of people that never got involved in Nu for one reason or another, I understand that you may be uncomfortable about purchasing NuShares in order to receive shares in B&C when the exchange is finally done being built. You’re unfamiliar with Nu because you never got on board when it launched and the Nu forum is too huge and active to catch up now. Trust me I know. I got behind on the Nu forum soon after it launched and in January it took me 1.5 months to read the entire forum and catch up. It’s intimidating to think about.
Because of this, I spent much of last week creating an entire history of the Nu Network, featuring a timeline of all major events, descriptions of what happened, quotes and links to original threads so you can research it more for yourself if needed. I wasn’t ready to share it yet because there are still some things I’d like to add, but it’s mostly complete now. I did this because I wanted there to be a better synergy between the Nu and Peercoin communities instead of what we have now, people ignoring each other not having a clue what goes on in the other community. I believe we should work together. We would get so much more accomplished. I spent a lot of time creating this for you guys, so I really hope you at least check it out. It’s a much easier way to catch up and understand how Nu has evolved throughout its history than reading the entire forum. Maybe once you understand what has happened since the September launch, you’ll be more willing to be involved in both communities. Anyway, I hope this was helpful in some way. Here is the link with the history…
The Full History of Nu: [b]https://discuss.nubits.com/t/history-of-the-nu-network-feedback-please/2088[/b]
