I don't necessarily see how such a system is worse than one like NXT where people put $150 back in October, got 50 million NXT ($millions) and has been collecting almost all the foraging fees for themselves ever since. 

Many people have hundreds of thousands and millions of NXT and complain they can't even forge anything because the whales are eating all the forging fees.  How is that fair?  Rich get Richer?!

You know NEM must be something good when a get quick rich 50 million NXT whale like CfB is against it.   


Maybe someone should test NEM alpha with 200 million NEM (equivalent of 50 million NXT) and see how much less CfB would get if he switched NXT to PoI    Would CfB have to sell the mansion and the sports car?  Maybe..

Delete

This is a guarantee as we are not talking about big demographics.  Bitcoin is only these 500K-2M users.  NXT is a tiny fraction of that.    It's incredibly optimistic to even assume you can get 25% of either userbase to use these mobile phone apps and to put substantial money into them.


 If Bitcoin is later 100 million users, this is something years away which is a long time for Gems to be displaced by something else.  Then if Bitcoin was really 100 million users then it would probably be worth $Trillions and would be a payment option on Whatsapp, Facebook Messenger, et cetera.

I'm more inclined to think Gems will do better in the short term just because it's Bitcoin 2.0.   While Nxtty is generation 2.0 but on the lesser used NXT.

CounterParty is worth a bit and Mastercoin used to worth a lot, but there wasn't really much incentive to use them (beyond speculation).  There could be immense utility in using this Gems so maybe up to 50,000 to 100,000 of the current Bitcoiners could end up using it and these Bitcoiners have a lot of money.



If those paid advertising bots from India / Maldives on Nxtty's facebook are real persons then Nxtty could have exponential userbase growth and the capitalization could go stupid (rocket taking off).   Of course, like others, I suspect these are all just paid bots or people looking to make their 0.02 cents to a .25 cents per post.  Yes there's people who make a living spamming $hit on Facebook but this is only possible if you live in a low cost of living country like India.


So Nxtty's actual core audience (not counting the bots) is only at best 2,000 - 10,000 persons (current NXTers).


Of course this is all hypothetical.  I think it's more probable that, beyond initial speculation, there won't be any rockets taking off (unfortunately) but can you afford to miss the rocket if it does take off?

Looks like more crap we'll be putting our money into and probably never see again but that's crypto currencies for you.

I'm not trusting a newbie account.  Don't care what he is doing on the NXT forum, anyone can sign up and do that and still be a Qora sock / shill.

I'm waiting for Call-From-Beyond to review the code.  If you don't like Call-From-Beyond then there are other reputable developers on Bitcointalk.  A code audit / review by somebody nobody really knows doesn't count to most people.

It means what is written.

.9999 pure gold and .999 pure silver is only minted by a few places.  By industry standards, .9999 gold is 24 karat (24 karat meaning pure gold with miniscule microscopic impurities)

Sure you could get 100% pure gold but first you would have to molt it down and send it flying at the speed of light to remove that .00001% impurity

Patmast3r finally got around to liking the 8 billion?  Wow!  Patmast3r the signs were always out there!

8 billion people in the world soon
8, Oracle 8 Java

    

So BTT accounts have to wait until the secret address is revealed?

PayPal is 150 million users and has a capitalization of $40 billion.  This capitalization is derived from their revenue model which is being a middle man between people & merchants and levying a transaction fee.
 

Yes it is the opposite of Bitcoin.  When Bitcoin or any digital currency gets 150 million users it would have a capitalization in the $Trillions, due to the asset characteristics.    It's also the opposite of Bitcoin as PayPal can shut down your account and even steal your funds.

I tried the real data thing.   I logged out of my wallet and logged back in, the information changed.  Did it again and it changed.   Is this WAD (working as designed)?  How exactly does this work?  Is this public key / private key being stored somewhere or is it a generator?
 

Not quite lottery at $1.25 capitalization where 1 Uro = 1 bucket of Bat Piss (Guano-Urea)

You are a senior member and should know better than we've seen all sorts of lame coins hit the top 20 and then disappear forever.  Nobody here is missing Quark or BBQ coin.

We can argue over definition but anything centralized like BitsharesX and Ethereum is a scam waiting to happen.  Bankers put the entire world into a mess and solution isn't replacing the current set of bankers with a newer set of bankers like BitSharesX.

This was an unnecessary burden of proof.  If you actually ever bothered to read the NEM thread since March, you would find that it is a proprietary innovator and I think they have very good public relations.   

 I think OP created this thread with the intent that serious replies would emerge, even though the "A or B" does tend to attract replies like the one you wrote.

 I'm sure you could retort but on the latter but I don't think NXT is any successful in its' external image.  When you have someone like Jeff Garzik, a Bitcoin developer, who labelled NXT a scam - how do you recover from that?   I'm ignoring all the thefts and hacks, initial distribution, Cointropolis, a lot of the assets on the asset exchange being questionable, et cetera.

Dot.com was $7 trillion and only 2% of the world's population had internet access.    Digital currencies because of their asset characteristics, if it were to reach the size of PayPal (150 million users) would probably be worth $Trillions.

 PayPal is only worth $40 billion because this is a payment processor and their capitalization is derived from the transaction fees (there is no stored value).  If PayPal was a like Bitcoin then it would be worth a huge fortune no doubt.



I think digital currencies can take us there but I'm not entirely convinced that Bitcoin can lead that charge, because I noted the issue we've had in user base expansion.  500K-2M users just isn't cutting it.  Bitcoin is all over the media and yet I haven't seen mainstreet come in yet.


The funny thing is this guy I listen to on the radio always tells people about AirBNB, UBER and those sort of alternatives... but strangely he's still fiercely anti-Bitcoin..  mind you his reason for disliking it, if I recall, is Satoshi being anonymous and the hashing power being monopolized by Ghash.

I don't know about Asia or Europe but if you want Americans to adopt something then the radio hosts across the country need to embrace Bitcoin and digital currencies.

There's already been digital currencies for years - people were using MMORPG coins to buy real world goods.  Then you had things like Amazon dollars.

IBM's interest in Ethereum wasn't a coin but rather the blockchain technology to overhead on their server system but I don't know if it will actually take off as you can't host your private files on some Russian guy's computer who can probably crack the encryption in a fortnight.

Myspace had 100 million accounts in year #3.  Bitcoin is 500K-2M users after 5 years, so no it's not a "Myspace".

Bitcoin now I think has a problem with userbase expansion.  I mean it's already all over the television and newspapers - why isn't mainstreet coming in?  It leaves me to conclude that some other coin better at promotion and userbase expansion will simply replace Bitcoin.  A couple of months of exponential userbase expansion could shoot pass Bitcoin's userbase.

The origin behind many of these clips is it is a common practice to leave behind ammunition and explosives but to rig them to explode to hurt the user.. even the US engaged in this practice whilst in Iraq..

http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

The origin behind that story.  Still I presented a good argument - if there was thousands of rich Bitcoiners then everybody would be posting photos of their cars and mansions on here.  If you had 1,000 rich Bitcoiners then you only need 1% of them (10) to be bragging about it nonstop on Reddit and Bitcointalk.

It was hardly much of a boom.  Dot.com in the late 1990s was $7 trillion.  Bitcoin peaked at $15 billion, because only 500K-2M users are using it.


Besides we know from the website BitcoinRichList that there isn't that many rich.  I looked at the numbers and it looks like only 55 active addresses (past 30 days) own more than $5 million.  

Then there are the charts which include all the addresses going back to 2009.  There's 1700 addresses with amounts more than $3 million.  Addresses are not people.  A lot of these belong to exchanges, are lost or inaccessible funds, multiple addresses can belong to the same person (a common security precaution), et cetera.

So in actuality, especially at current prices, I would be surprised if there's even 300 rich Bitcoiners who have access to their funds.


Here's some rhetorical logic -  if loads of people were getting rich off Bitcoin then how come this forum (or Reddit) isn't full of people posting photos of their brand new Lamborghini and mansions?  You know that stuff would happen if many ordinary people were getting rich.

New accounts have to wait 24 hours until harvesting