PoW is decentralized and PoW is somewhat centralized depending on how the developers implement it.
Funny the trend for altcoins are heading toward centralization which we all oppose.
The main problem I have with POS coins is that they release all coins basically in short space of time if there is even a POW start off. This inflates the marketcap a lot as 100% of the initial supply is on the market straight up. Then slowly increases with given interest rate. NXT has a high marketcap but try dumping even 0.01% of the coins on the market and see what happens with the price, now if NXT was 2nd GEN PoW(If such a thing could exist) would it even be in top 50 right now? It doesn't even need to be POW. If NXT was $5 million in late December versus $80+ million then it could be a dying coin at the moment. Having a huge capitalization helped in attracting developers and users. Much like if they somehow were able to pump NXT to $200 million overnight through some kind of Keynesian pump involving $millions of Fiat then who knows what the consequence of that would be. |
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NXT = MySpace
Qora = Facebook
Keep adding junk add ons to junk, the price will still fall.
Qora has been going down and down and there is nothing to show that it will amount to anything. You seriously comparing to to Facebook  His messages are so hilarious that I am starting to wonder if he's a plant from Ora to defame Qora  If Qora keeps on being an annoyance some NXT whale will just buy it all up with pocket change and crash it down to $0. |
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this condensed nature is precisely the problem with POS. as i understand it looking back in this thread, NXT is highly concentrated amongst it's early adopters which is the opposite of what you want. i fail to see how this improves with time; in fact, it should only get worse the way that forging works.
the worse scenario can get much worse; as in going to zero.
Anything can go to zero, there is no insurance against that, only taxes can't  The argument of distribution in NXT is beaten to death already. You can think of NXT distribution as having 2 stages: Stage 1 - initial distribution to 73 people. Stage 2 - is ongoing and will take years to unfold. Original stakeholders have been selling for almost 9 months, otherwise where would all the coins on the market come from?  They need to cash out, they won't hold forever, just like in Bitcoin early adopters cash out. In the end, all currencies tend to follow Pareto Principle, where 80% of the coins end up in the hands of 20% people. That works in real life, there is no reason it will be different with crypto currencies. Yeah but it is not an either and or. Most of the NXT whales have since diversified or keep a lot of their reserves in BTC. We know NXT will rebound because one of the whales will eventually engage in a bailout with their BTC that they only acquired through selling NXT in 2013. This is the pump and dump, then re-pump cycle. Only way for NXT to die is for people to stop paying bounties and/or developers abandon ship for another coin. The thing is that NXT developers are largely Java and there isn't really any other Java coins to flock to, minus the odd exception or two. |
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of course it's quite possible if Bter didn't do it, the price of all NXT on the market would be 0.
It would stay depressed at 4-5k satoshi for 2-3 months if he chose to sell in equal portions (1m each day), that's how long it would take for the market to absorb 50M volume. If he chose to sell all in one go, it would go to 100-200 satoshi for a few hours, buying 50m NXTs at 500 satoshi takes only 250 Bitcoins, that's about daily volume of NXT trading. So all the 50m would be quickly bought within 1 day, that's rough calculations, give or take a few hours. Gradual selling over 2-3 months would hurt more because it'd be more prolonged bleeding, but not dramatic either. Actually the hacker admitted himself that he was a hold. Ironically, if the hacker kept his 51 million coins, it probably would had caused NXT to go up through deflation. Just like Satoshi never spending his BTC is very deflationary on the available supply. Reality is that NXT's up and downs is largely due to whales engaging in pump and dumps and one or two whales lost their funds at BTer. If the hacker had kept his fund there may actually be *gasp* stability to NXT. i seriously doubt this. if a known thief and hacker had been allowed to keep 5% of the NXT stake, he would have destroyed confidence in the entire system causing a plunge in the price. Maybe there's room for doubt but it's not reassuring that NXT has a lot of whales, some of them anonymous and don't contribute on their forums, who can engage in regular pump or dump and decide one morning if they feel like killing a coin off. Would I take a known thief and hacker who is a "hold" over a whale orchestrating pump and dumps? Sure... That is an apathetic assessment about the overall market, not me condoning hacking or pump and dumps. Whales can cause immense damage to a coin - more coins are killed off by pump and dumps than hackers. |
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of course it's quite possible if Bter didn't do it, the price of all NXT on the market would be 0.
It would stay depressed at 4-5k satoshi for 2-3 months if he chose to sell in equal portions (1m each day), that's how long it would take for the market to absorb 50M volume. If he chose to sell all in one go, it would go to 100-200 satoshi for a few hours, buying 50m NXTs at 500 satoshi takes only 250 Bitcoins, that's about daily volume of NXT trading. So all the 50m would be quickly bought within 1 day, that's rough calculations, give or take a few hours. Gradual selling over 2-3 months would hurt more because it'd be more prolonged bleeding, but not dramatic either. Actually the hacker admitted himself that he was a hold. Ironically, if the hacker kept his 51 million coins, it probably would had caused NXT to go up through deflation. Just like Satoshi never spending his BTC is very deflationary on the available supply. Reality is that NXT's up and downs is largely due to whales engaging in pump and dumps and one or two whales lost their funds at BTer. If the hacker had kept his fund there may actually be *gasp* stability to NXT. |
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For most of the coins you are referencing - it's all a game of musical chairs due to premines and whales who can create fake volume using their own funds split between multiple accounts.
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Guldencoin is fine but I don't intend on buying any until they switch from PoW to PoS. Reality is when you buy a PoW coin you're giving money to some guy who mined for essentially free.
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That's a way of thinking about it. Maybe that explains why some people have lost faith in NXT but those weak hands will be replaced by stronger hands, no?
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That's a pretty decent list but I'd take out LTC/Doge. I'm also uncertain about NXT due to the recent troubles.
Considering that it will take them forever to make Etherum (2 years is a long time here), it feels like it was an IPO scam. XMR and DRK crashed hard in these troublesome times.
The safest bet will always be Bitcoin.
I didn't notice you were certain about NXT before the 'troubles' either  Bitcoin is the safest bet is an illusion, soon to become clear not just to a few. NXT is fine - they have an unparalleled alt ecosystem and upcoming developments. Bitshares doesn't even come remotely close. Ethereum is years off. |
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Big supporter of Ora? Why do you think that?
Qora was bad enough that Kora (Ora) came in to tackle the issues within Qora and one way of doing that was issuing a distribution to 1000 stakeholders and attracting developer talent.
Yes. I have a stake in Ora. Which is what like a market value of $40? No one shills for that little. I don't shill for anything. If I support something then it's because of the potential and promise within. There's more potential in Ora than in Qora, so why would I spend precious capital on a Qora coin which might flop and cease to exist in 10 months?
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Which one is Qora? This is the fork of NXT or the fork of eMunie? By the way this wouldn't be the second exchange, there's 3-4 other exchanges in other coins already.. NXT is the biggest one and has the most volume (IIRC - the volume of all the assets put together would be in the top 20 of cryptos). |
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The joke is on the OP - many of the Bitcoin $Fiat millionaires were guys who CPU mined for essentially free or they chucked in $5-$30 lunch money equivalent in 2009.
You can go in big on Bitcoin and risk being like the OP and baghold. Or you can research the 500 alternates to Bitcoin, decide on the winners and diversify $10 - $1000 (your budget varies) on each one and wait 5 years.
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Yes. I have no problem in buying more BTC, even if it crashes down to $50, to buy into promising alternates and assets on the secure asset exchange.
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Back in 2013 Coinmarketcap did not filter away non-available supply so Ripple had something like a 4+ billion capitalization in late December. Now it's like 450 million (8x-10x loss) total supply. Imagine if you bought at top of that bubble? That's worse than buying into $1200 BTC and bagholding at $500.
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Doubt Ethereum is the reason. People who invest into Ethereum probably having a big regret right now seeing all altcoin sinking down.
Dumping $500K+ a day... then the bots and scripts betting short increasing that to $5 million downward pressure? Then the exchanges which are being hacked. There could be some legit people freaking out about Bitlicense but I think the IRS ruling was more destructive. |
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If there was a purge then I would be a little more prepared than some cheap machete and a Halloween costume from Value Village.  As well this movie is entertainment. Despite Agenda 21 conspiracy stuff, you wouldn't kill off the poor or the dependents as that would increase the value of labour and goes against the theory of division of labour. (much like after the Black Death, where 30% -50% of people died, is what brought an end to feudalism and brought about the economic prosperity which culminated in the age of exploration and the renaissance). |
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It scares me just how many altcoins there are here. Why don't we just make a program to create new altcoins. Enter name, block size, number of blocks, algo, amount to premine, press go.
List is outdated and old. We might even be at the 500+ mark and don't know. There's probably more failed alts than active contributors in the alternate section. |
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What do you mean? Are you suggesting a tin foil hat conspiracy that Vitalik Buterin could be a paid Mascot for Goldman Sachs, and there's 20 Indians in the backroom doing all the programming? |
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You mentioned Visa Coin. Yes As I said here - never ever ever ever ever ever trust a developer with an account named after the coin. I have almost never seen any of them work out. The odd exceptions might be Redd, Qora and Ora but last I check none of these coins have yet to go past $5 million capitalization. I think the one exception I have seen is Guldencoin, the main account is Guldencoin, but this is one of the creators on TV and giving out his name. https://vimeo.com/98412899Not sure what happened with Guldencoin. It used to be like $300K and now it's like $30K something. I haven't been following it but it reinforces the skepticism I have about developers naming themselves after coins and POW coins in general. I theorize the national coins should just move away from POW and Airdrop. If I made my own national coin it would be POS and I would restrict the number of applicants who can receive their stake in a given week and/or month. So yes it would still technically be an air drop but if only 100 or 1000 people can claim their coins every month then it lessens the sell off (it shouldn't be hard to figure out an appropriate release) |
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You mentioned Visa Coin. Yes Other people wouldn't find it funny (esp those who lost money) but it was comically the worst scam on BTT which took like $120K+ at the time. As I said here - never ever ever ever ever ever trust a developer with an account named after the coin. I have almost never seen any of them work out. The odd exceptions might be Redd, Qora and Ora but last I check none of these coins have yet to go past $5 million capitalization. |
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