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It doesn't work this way. Everyone defends their vested interests and their favorite coin. Sorry, but what you call for is not attainable. It's competition. Litecoin doesn't even want to compete, its developer doesn't want to compete with Bitcoin. If Litecoin and its developer don't want to stand up for themselves, why would others stand up for them? Not gonna happen.
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In NXT, for example, if some coins are not used for forging blocks, their power is proportionately distributed among all the other coins that are forging.
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What could possibly be the rationale for holding litecoin in the year 2014?
Whales who got them for a few cents or mined them in the early days could still be holding them, simply because they have too many of them and can't sell all at once because the market is too thin, so they are selling them off gradually. Now, who is buying - that's the question. |
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Edit- so at this point do you think that NXT is already free floating, or do you think that NXT is currently essentially priced in BTC ? and how do you see "the peg" playing out (or not) as the gradual BTC increase your foresee happens.
If you mean in what (crypto)currency more NXTs are bought and sold, undoubtedly, it's BTC. There are very few fiat gateways and BTC is still the obvious choice for exchanges to price all other cryptos in. But that doesn't mean it's a peg. I see NXT outperforming BTC in the future. They could move in the same direction, but BTC gaining less over the same timeframe than NXT. A peg, in the strict sense of the word, means like a peg of the Chinese Renminbi to the USD peg, that is, NXT would have to cost the same amount of satoshi more or less. I don't see that happening, it will cost more satoshi with time  |
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But I do take your point : )
Well, I don't see a big move in Bitcoin in the near future, only a gradual one. With that into account I see more people diversifying into 2-3 innovative alts, including NXT. Those alts will be outperforming Bitcoin. Other alts with no innovations will continue to be slowly dying. No pegs |
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What are the reasons for Bitcoin's parabolic move?
It was easier to get to $1000 (but not stay there), than to the next levels. The next levels will take much more capital, the sources of which are not so clear.
Just remember that past history doesn't guarantee the same pattern in the future. Bitcoin can still grow over the next 1-2 years, but more gradually now. Hard to predict beyond 1-2 years.
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But until centralized checkpoints are removed, we can't say Peercoin is decentralized, even truely decentralized, right? |
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It's been said a few times, that PoI makes emphasis on with who you make transactions. But how can people with few NEMs make transactions all the time, if they quickly would run out of NEMs. So you still need to have a considerable amount at stake and make transactions with someone important to raise your own importance.
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Here is another statement for you to think about:
If continuous non-innovation means something can be destroyed if not fixed to be protected against the dangers, then the chance of ultimate non-success is high.
The case of car manufacturers doesn't apply to crypto currencies, because even if car manufacturers simply copy others' inventions and make no innovations of their own, their products bear no risk of destruction or collapse. While if the dangers of 51% attack and monopolization/centralization that PoW crypto currencies face are not removed, they risk losing value and not being able to compete against truely decentralized cryptos.
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Nice to see an observer thread for Altcoins. I sense interest in Altcoins is picking up lately, if even because of LTC's fall in price  Altcoins bring a lot of experimenting into the game from which we can all learn over time. A fascinating environment. Yeah, if Bitcoin keeps doing what it has been doing lately, that is, fluctuating in the $550-$650 range, a lot more people will get bored and start looking for gains in the alts. |
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I think it is possible and in a short time frame, why
well the shear amount of money wasted by GOV and BANKS every day is staggering and easily $21 T a year or over a few years.
This much value is left on the table and BTC can catch most of it.
What do government budgets have to do with Bitcoin and how can Bitcoin catch that money exactly? Not to mention that most governments' budgets are in deficit, the expenses cuts are under way on most urgent social needs and those cuts provoke social unrest. Of course, a lot of bureaucracy could be shrinked, but you must be out of your mind to think it would be shrinked and that money spent on Bitcoin. On what planet do you guys live? Governments don't work that way  Crypto currencies are direct enemies of fiat, make no mistake, this flirting with 'allowing' crypto currencies in some 'liberal' western countries is just that, flirting. They will ban it overnight if the need arises. |
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Quoting: "Hashrate paid out the equiv. of 0.00366 BTC/day last shift for every 500 MH of Keccak (that's the equivilent to about 0.00366/1 MH/day of Scrypt mining). If any of you are mining anywhere else, I think this is just about as profitable as it gets. You can check the algo profitability graphs now on the main page of the pool to see the performance of each algo over the last shifts. The miner software is available http://hashrate.org/software (use the link near the very bottom, it's the SGminer that supports multiple algos) and the keccak stratum is stratum+tcp://stratum.us.hashrate.org:6666 Let anyone you know who mines know! " https://nxtforum.org/general-discussion/calling-all-miners/ |
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Up for those who missed the thread.
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Where would the money come from? Wall Street ETF's, large companies adopting it, use world-wide, just to name a few things.
My point is that the order of magnitude from pennies to $1000 is less than $650 to $1,000,000 so in theory it should be possible. But yes, it will take more cash but there are way more players in the game too.
I am not that optimistic. Large investment funds are regulated by governments, there are strict rules what they can invest in, I don't believe they will ever be allowed to invest in crypto currencies, because crypto currencies is a direct enemy to governments' fiat currencies. Don't overestimate that California governor's legislation, that law doesn't mean investment funds are allowed to invest into Bitcoin, far from it. Large companies selling stuff for Bitcoins sell Bitcoins back for cash which they need to cover their expenses, so they are a non-event. China has the largest savings rate in the world, but China banned Bitcoin, and the western world's savings rate is negative, meaning there are more debts than savings. India, another country with a high savings rate, loves gold on their women, they won't embrace Bitcoin on a large scale either. So I just don't see where that kind of demand would come from. The only way it can go to $1 mln. is a hyperinflationary scenario, but that million wouldn't go a long way in that scenario. |
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Going from pennies to over a $1000 per coin is a bigger jump than going from $650 to $1,000,000.
Why is that? Going to $1000 required hundreds of millions, perhaps a couple of billions of $$$ of buying support (only some part of Bitcoins has been for sale, not the whole market cap), which could be done by a relatively small group of enthusiasts (thousands of tech geeks and tech savvy small investors). Going to $1000 000 will require hundreds of billions up to trillions of $$$. Where would that kind of money come from? |
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It will be far cheaper to attack a full PoS coin.
Really? What do you think would happen to the price of the coin when someone starts actively buying at market to gain a 51% share? Please do more calculations before you come up with 'far cheaper'. By my calculations it will be 2-3 orders of magnitude more expensive than doing a 51% attack on a PoW coin. |
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could you give more info about Crypto Asset Platform? get nothing about "crypto asset platform" from google.
You will find all info here: https://nxtforum.orgNXT is the only running in production crypto platform at this time. Others are planning to launch later this year. if someone knows another running crypto platform, feel free to add, I am interested. |
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IPO is not a way to distribute currency. Perhaps people in 2013 were more educated than the current ones  Just imagine how well NXT would be doing if the coin generation would have been set similar to XMR... "IPO is not a way to distribute currency" is just an opinion. Since NXT poses as more than just a currency, you were right in saying that it's more like stock of a company, thus IPO is a natural way to distribute it. And because it is PoS, you can't distribute it as PoW, it's one or the other, can't have cake and eat it too |
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