Bitcoin Forum

source http://www.bloomberg.com/news/2014-07-18/bitcoin-dominance-challenged-as-danish-bourse-offers-nxt-trading.html


Denmark’s virtual-currency bourse says it will become the world’s first to allow clients to swap dollars and euros for NXT, the fourth-largest crypto-payment form which until now has only been traded via bitcoin.

The CCEDK Crypto Coins Exchange Denmark ApS, which opened in May, will start offering the service tomorrow, Chief Executive Officer Ronny Boesing said in an interview. Clients can also exchange NXT, which was created in November, into Nordic currencies, he said.

“NXT is a strong currency and a potential challenger to Bitcoin as a leading virtual currency,” Boesing said. “In terms of safety, it’s perceived as being as safe as bitcoin, if not safer.”

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It's time to buuuy  :o

I hope not. That damn price is going up again. That is too early!  >:(

That bubble-talk about Bitcoin is strange though in the article. I mean - who listens to industry professionals? If it were for them Bitcoin would be 0 now, because it's a ponzi :D

Also doubt that NXT would take over if BTC bursts.

Is it not more like a Pyramid scheme?


Not sure. Why do you think that?

A lot of those people never believed in Bitcoin, and were the first to critisize it. If we listened to them, BTC's price would be less than $1 now.

Also, this kind of shows they know nothing about NXT. It's absolutely horrid distribution(First 60ish NXT accounts hold 50% of all NXT coins) guarantees no Mainstream adoption.

I've never understood this line of thinking. Care to explain. After 1 year of bitcoin a massive percentage was owned by one person. Does that disqualify bitcoin from mainstream adoption?

That obviously doesn't count. Since Bitcoin was the first cryptocurrency ever...it had a hard time gaining traction. NXT was not the first PoS currency...it had no excuse for having such a horrible distribution...50 NXT addresses own 50% of all NXT coins and many of those addresses could be owned by one person...That's Horrible Distribution.

Since when does a cryptocurrency need an excuse? Why did you not invest in it? Because you were missing some balls? It is the humans that do, not things, ideas or concepts. So, do not blame Nxt. Blame yourself.

Well, looks like places are trying to challenge BTC's place as the gold crypto, as it seems more and more people are pushing other alts like NXT/NEM or XMR, and I can't tell why. Maybe just a lot of investors looking to make a profit, or are these actual increases?

It would be nice to see some better competition, to drive prices higher all-around, but it doesn't seem like there's much action going on with other cryptos. Now, I could be totally wrong, but I'll I'm really seeing is Monero and NXT being hyped, nothing else.

No higher prices, please. Could anybody please withdraw their buying orders and stop buying?  >:(

As a Nxter I have to admit that the distribution is really bad. But I don't understand why everybody is bashing Nxt for having a bad distribution while most other cryptos haven't a really good distribution either, some of them like Bitcoin is even worse. I also agree with ChuckOne that Nxt itself is not to blame for the bad distribution.

Bitcoin's distribution is much better than NXT's...

To compare:

The First 100 Bitcoin addrsses own only 19% of all Bitcoins mined atm.(will be around 10% in the future since only 12million Bitcoin are out)

The first 50 NXT addresses own a whopping 50% of all NXT coins..

NXT is the first 100% PoS decentralized currency, so yeah, it's like Bitcoin, the first in its own class. Do you know some other that was before NXT, that is 100% PoS decentralized? Name it!

Distribution of NXT is still going, perhaps half of it is completed, it will go on for some time.

100% PoS doesnt matter.

The first currency to use PoS was Peercoin. NXT came long after.

Peercoin is actually Proof of Coin-Age. That is not stake in the classical sense.

Peercoin is PoW/PoS, doesn't count.
NXT was designed to be 100% PoS, so yes, it does matter.
Besides, NXT has nothing in common with Peercoin, to start with, its PoS implementation is totally different, it's coded in a different language and it has a different architecture and features.

it's like saying bank deposits were the first, because they also are PoS and allow to 'forge' :)

But what percentage of bitcoins did the First 100 Bitcoin addrsses own half a year after bitcoin was released? Nxt is slightly over half a year old, bitcoin is five and a half years old.

Compare Nxt to nearly every other top altcoin, and it's nearly the same. Bitcoin is an exception because it's been around 5 years. Give Nxt another few years and it'll be the same. Distribution takes time for every coin.

No. The security system of Peercoin is 100% PoS. The PoW is only for initial distribution.
Programming language doesn't matter, there could be also a Java client for PPC and a C++ client for Nxt. PPC and Nxt may not share the codebase but are cousins at least.

PPC is not decentralized. An essential difference for a cryptocurrency.


Isn't a pyramid a kind of ponzi? Anyways, depending on your definition all currencies are a ponzi schemes... it just shows how little the established finance elite knows. They just don't get Bitcoin - and they lie so much about the dollar that they can't see the truth themselves anymore. I don't see how that's different now than a year ago, so there's no reason to listen.


If we talk about "within a year" , then I'm sure the BTC collapse would destroy confidence in all crypto. NXT is - like all alts - tied to the BTC value.
I think it's the biggest problem of Nxt that it's in a kind of bubble (more in the echo chamber sense). I don't see much use outside - nobody uses it for transactions rather than Bitcoin. Assets have the same issue: few are not Nxt-community internal. We need an Overstock to join or such.

Nxt is in a strange spot - in the middle of the action, but still ... even the general Cryptocommunity just doesn't talk about it much. Let alone the public. Other cryptos have much more attention and might catch up.
Granted it's all pretty young.  Instant transactions for example might give NXT the standout feature it needs for businesses to take a look.


I did my crying about it too in the beginning. But the more I learn about NXT the less I think it matters - or to be precise: It's a problem where no one has a solution. From the mass markets view, no cryptocurrency has good distribution - 70 holders or 70000 makes little difference.
Right now the price is rock bottom - with massive stakes being sold: Get in now, else you don't have an excuse to complain.

Initial distribution or not, PoW is still used to produce blocks, hence PoW supports security of the network too, until it doesn't, which is a long time away. Even when it doesn't (long time from now), PPC's PoS implementation still has as much to do with NXT's implementation as bank deposits bringing yearly interest. Besides, as the post above says, PPC has central checkpoints, hence cannot be considered decentralized. NXT is the first 100% PoS decentralized.

Waiting for the nothing at stake argument to come up.

NXT is challenging BITCOIN!

FUCK YEAH ladies!  ;D