People are bagholding PPC from when it shot to 2 dollars and was back at 50 cents a few days later... The great trap of 2014
If nubits were worth anything that would reflect in a strong PPC, but as of lately all its dome is go down down down. this sounds like a pump and dump scheme to me
The purpose of NuBits is to keep a value consistent to that of the US dollar and it has performed this job very well since it was launched. I think there is a value in having a crypto that is stable to the USD and it, along with BitUSD, serve to fulfill this demand.
As for the Peercoin pump during the run-up to the NuBits launch, well yeah, that was definitely a pump. And what follows a pump is always a dump. It's hard to say if this is the bottom or not since all cryptos have been performing terribly in the past 12 months. Peercoin isn't an exception.