It seems XPM is dying with less and less activity, so is the XPM price. Recently I’ve talked with some members of this PPC/XPM community and find quite some PPC supporters don’t care about XPM. :-/ Most of members here are PoS fans, wherever on PPC subforum or Nubits forum, the discuss is going on while here is silent. Is PoS really superior than modified PoW as Primecoin? I don’t think so.
Hash rate helps Bitcoin/Litecoin/Primecoin to defend themselves when competitors/imitators come up, for example, Dogecoin is very good at marketing and its technology copied from Litecoin, as a imitator of LTC, Doge finally failed in overtake LTC because of the result of Hashrate battle.
What if LTC is a PoS coin and challenged by more popular imitator —Doge? Fortunately, now we have a chance to watch such a upcoming arm race between PPC and NEU.
The probability of Neucoin Scam does exist, but it is also possible a “PoS version Dogecoin”, a technical imitator but with a far better Marketing. This time, without hash rate protection, PPC faces a severe competition from Neucoin. Good Luck PPC!
We need a hash rate protection to assure our genius software developers’ labor fruit cannot be easily taken by others in this open source situation. PPC/XPM/Nu supporters should unite together, at least help each other by sharing developers/source code etc. For example, if PPC becomes very successful and some PPC holders/developers get rich, they may have more fund/man hours to contribute to Nu project, vice versa. Shall we split into three independent communities as PPC-XPM-NU? And just watching sister coin fading off? No! Any coin’s failure will definitely hurt our whole reputation. People say:" Wow, PPC coin? The sister of already died XPM?" Or " XPM? Is it from the same community of successful Nubits?"
How about adding a stable unit into XPM network with the help of Nubits project opened source? I mean XPM coin acts as share concept, and a new unit with stable(anti inflation) feature plays the currency role. Assume the new unit calls Hayek coin(HYK). In this way, XPM is both Golden Standards experiment and Hayek theory trail simultaneously.
In a PoW system, the existing XPM cannot mint/confirm transaction, but XPM holders can vote by XPM private key signature to determine the transaction fee(0.01XPM now) and the Hayek coin issue.
My suggestion is below:
let Hayek coin pegged to 1 USD initially, and slowly raise buy back price to get anti inflation after succeeding maintain peg for one year.
Because of private key vote is instant, we don’t need to wait for one week like nubit system, if more than half XPM holders make a decision within 1-2 days, the motion passed. Now XPM holders vote a XPM/Hayek pledge ratio such as 100:1( as per today’s price, 2.6$:1$). I have 10000XPM so I pledge/park my 10000XPM to protocol and get 100$/HYK, I am liquidity provider so use BOT software to trade HYK on CCEDK, just like nubits LPC. 100% reserve, every HYK is back by 1 USD in my account.
I wouldn’t run off because more valuable XPM pledged in protocol, and the reason why I provide liquidity is that the XPM protocol will give me extra XPM(e.g. 5% annually) .
It is the smart contract between me and XPM protocol, the contract is short term such as 1-2 weeks. When HYK demand decrease even to zero, the XPM holders vote a ratio of 10000:1, with the old smart contract due, most HYK will come back to protocol and XPM holders get back their XPMs.
XPM holders get extra XPM by providing HYK liquidity just like PoS coin holders mint/confirm transaction and get extra PoS coin.
When the HYK demand extremely high, the capitalization of XPM insufficient, the pegging will lose because one HYK equals to 1.5 or 2 USD. XPM holders will vote for a 10:1 ratio (0.26$ XPM ->1 $), that is I have 10000XPM(266$) and get 1000HYK and sell for 1000$. I have the motivation to run off with 1000$ and discard 266$ XPM, but the free market is not fool, they know the XPM cap. is insufficient and stop buying HYK and turn to Nubits. That’s the automatically mechanism. As F A Hayek said, in this case the private money issue bank need other competitors help them and this give extra chance for new comer in the free market, that’s not bad, competition always welcomed.
I am not sure XPM fans even XPM developer will be interested in my proposal, but as a loyal XPMer since 2013, this is my sincere advice.
If this pegging scheme is proven feasible, in future, Nubits project team may get some clue.
Best wishes to XPM PPC Nubit!