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Sr. MemberActivity: 584Merit: 304 Re: [PPC] Peercoin Official Thread: Peercoin Network Surpasses 400 Full Single Nodes October 30, 2014, 09:40:00 AM #124

http://www.peercointalk.org/index.php?topic=3532.msg34151#msg34151



Quote from: Sunny King on October 28, 2014, 09:25:36 PM



Since the release of Nubits, the exchange peg of nubits to USD appears to be working so far. It must be noted that, the fact that due to the peg it's under political control (fiat inflation) to some extent, is actually quite superficial. This is because, the pegging mechanism can be used to commodity money as well, especially gold. The fact that the project issues USD equivalent first is likely a market driven decision, as USD remains the dominating currency in the world.

Also, Nubits inherit privacy features of bitcoin, thus having privacy properties very close to fiat cash. Let's recall that during Internet 1.0, David Chaum had a project known as digicash/ecash, which focused on anonymity of digital fiat. The project failed primarily due to political obstacles. But it was a big deal back then, as that was the only known way to preserve privacy in money at the time. That was before bitcoin brings decentralization technology to the market. It is decentralization that allows the market to freely launch currency projects without official support from banks and governments.

Notably, Nubits now has achieved similar goals of ecash, despite having different compromises in its properties. And thanks to decentralization, nubits is now circulating in the market, while the other pioneers of market-driven digital currencies, ecash and e-gold, languished in the footnote of history.

Chronology:



1995 digicash/ecash, anonymous digital note

1996 e-gold, digital gold note

2009 bitcoin, decentralized digital currency

2012 peercoin, energy efficient decentralized digital currency

2013 peershare, decentralized autonomous/anonymous company

2014 nubits, decentralized pegged digital note



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