Why is NXT not the number 2 coin?

[inBitweTrust]

Damn! I had the impression that AE is working. Then what the f**k I just have bought and where...:O?!? I also got some dividends... so you say it's all just an illusion ?

What was fallacious about the statement was the "first functioning" part. Of course AE is functioning fine. I believe the true statement he posted was the fact that NxT was the first 100% PoS cryptocurrency. The rest of the claims are bogus.

For now, you are right. But my theory is that a PoS coin will seriously threat Bitcoin's leadership in the cryptocurrency world in the coming years. Bitcoin's transaction costs are pretty high because of mining, only that for now the price boom has "hidden" this fact. Now probably we are seeing the actual bear market as a consequence of the freshly mined coins being sold. Nxt and other PoS coins don't have this problem and thus can offer smaller transaction costs.

The lightning network will significantly reduce Tx costs on the bitcoin network, allow for instant confirmations, remove blockchain bloat, and allow Bitcoin to scale to Visa levels of TPS.

Look into it:

https://bitcointalk.org/index.php?topic=970822.0
http://www.coindesk.com/could-the-bitcoin-lightning-network-solve-blockchain-scalability/


There are some really smart people working on it and it really isn't that difficult to implement (soft fork and some Tx malleability corrections that need to be done anyways)

[tokeweed]

Why is NXT not the number 2 coin?

'coz wishing it doesn't make it so. I am personally convinced that Bitshares is the dog's bollocks, but that is not preventing it from racing towards the abyss.

Technology is only one part of the game, there are so many other factors involved.

[ShroomsKit_Disgrace]

I am with NXT for the long haul. Long term success 95% sure.

[ExtremeFacials.com]

NXT isn't number 2 coin, coz it's number 1 coin. Not in price, but in true decentralization, and that will mean EVERYTHING when the global financial meltdown happens. The day fiat currencies and bank deposits etc start to vaporize before people's eyes is the day jo sixpack understands trustless consensus on a P2P network. Today 'Google coin' makes sense, but who'd 'trust' it after the crash? Nobody!!

NXt is decentralised enough to thrive despite being mostly ignored, and despite not going to the moon. But what happens when the global financial infrastructure is literally broken, and the vast majority of the western world are losing big chunks of their wealth daily? NXt will be a value life boat, coz when all other 'institutions' are gone what will be left standing in the eyes of the public? Not corp coins, but decentralised ones, and bitcoin is too centralised now.

NXT wins when world fincancial system burns! Until then it just has to survive, and stay 100% decentralised.

[box0214]

imo, ignore the coin. its where the features will pay for itself.

lets assume nxt never gets out of the .02-.05 usd range in the next 5-10 years and the devs continue building on top of the platform. what happens?

i'd assume this is what might play out:

1. Since its  POS coin. All coins exist. Which mean there is no added supply everyday like POW coins. Hence, true deflationary coin. Supply can only get less over time. This scenario happens to BTC once all coins are mined in the year 2140.

2. It's safe to say Demand will continue up over time, due to other devs jumping in to make use of the platform to create decentralized applications which require nxt to operate.

3. What might potentially happen is NXT the coin will stay at its price range, while Assets or MS coins within the system appreciate more than the coin itself. The play can very well be whats "inside" of NXT that is going to appreciate in value vs NXT the coin. This is something I feel other's aren't noticing and just blind sighted by NXT the coin itself.

[DecentralizeEconomics]

imo, ignore the coin. its where the features will pay for itself.

lets assume nxt never gets out of the .02-.05 usd range in the next 5-10 years and the devs continue building on top of the platform. what happens?

i'd assume this is what might play out:

1. Since its  POS coin. All coins exist. Which mean there is no added supply everyday like POW coins. Hence, true deflationary coin. Supply can only get less over time. This scenario happens to BTC once all coins are mined in the year 2140.

2. It's safe to say Demand will continue up over time, due to other devs jumping in to make use of the platform to create decentralized applications which require nxt to operate.

3. What might potentially happen is NXT the coin will stay at its price range, while Assets or MS coins within the system appreciate more than the coin itself. The play can very well be whats "inside" of NXT that is going to appreciate in value vs NXT the coin. This is something I feel other's aren't noticing and just blind sighted by NXT the coin itself.

Increased user adoption of the NXT platform automatically means an increased price for NXT.  The more txs on the network the more percentage wise each forger makes.  Increased platform adoption creates a snowball effect of greater platform adoption thus ever increasing forging profits.

[box0214]

i think many people believe that forging could be highly profitable like btc mining, but in reality it isn't as its only meant as a small incentive to keep the network up. yes it does enforce the idea of "the rich get richer", but not by much. I see it as the equivalent of recycling soda cans.... sure you'll make money, but it will take quite awhile before its anything significant. the question really comes down to what is the minimum viable amount to make it an incentive to support the network by setting up a node.

[DecentralizeEconomics]

the question really comes down to what is the minimum viable amount to make it an incentive to support the network by setting up a node.

Securing your existing investment and protecting your right as a currency holder to economic self-determination against centralized entities.

If the NXT network produces a block every 100 seconds and each block is half full, the tx fees per day will be ~110k which amounts to over 40million NXT spent in tx fees per year.  This amounts to a 4% profit per year for all forgers if everyone forges.

100% block utilization = 8% profit
50% block utilization = 4% profit
25% block utilization = 2% profit

[d5000]

For now, you are right. But my theory is that a PoS coin will seriously threat Bitcoin's leadership in the cryptocurrency world in the coming years. Bitcoin's transaction costs are pretty high because of mining, only that for now the price boom has "hidden" this fact. Now probably we are seeing the actual bear market as a consequence of the freshly mined coins being sold. Nxt and other PoS coins don't have this problem and thus can offer smaller transaction costs.

The lightning network will significantly reduce Tx costs on the bitcoin network, allow for instant confirmations, remove blockchain bloat, and allow Bitcoin to scale to Visa levels of TPS.

Look into it:

https://bitcointalk.org/index.php?topic=970822.0
http://www.coindesk.com/could-the-bitcoin-lightning-network-solve-blockchain-scalability/


There are some really smart people working on it and it really isn't that difficult to implement (soft fork and some Tx malleability corrections that need to be done anyways)

But this network does not erradicate the costs of mining. Because of the high costs, miners will mine only for profit. For now, they can make profit with the coins that are generated, but with the "cost" of a continous "natural" bear market because coins are sold and drive the price down. So there is actually a high "hidden transaction cost" still not reflected in TX fees.

In some years, the block reward probably will not be enough for miners to be profitable, so miners will have to rise the minimum transaction fees. The only other scenario I can imagine is that miners massively will leave the boat and the system will become less secure because an attack is less costly. A price rally only postpones the problem to the future. Even the most steep rally some day will come to an end and then all these problems will appear with even more dramatic consequences.

NXT, PPC, SLM, NEM, BTS and all the other PoS, PoB, PoI coins do not have this problem. NXT can offer 1-nxt-transaction fee forever and probably even less when price goes up.

[inBitweTrust]

But this network does not erradicate the costs of mining. Because of the high costs, miners will mine only for profit. For now, they can make profit with the coins that are generated, but with the "cost" of a continous "natural" bear market because coins are sold and drive the price down. So there is actually a high "hidden transaction cost" still not reflected in TX fees.

Yes , although the tx cost is being subsidized by speculators temporarily it simply is high because the 7tps limit and low tx volume. When the tx's start increasing multiple times over the cost of mining will be driven down substantially. Whether the price is brought down because the blocksize limit increasing, lightning network, interchannel payments, off the chain txs, or other solutions doesn't ultimately matter .

[JackRipper]

Technology is only one part of the game, there are so many other factors involved.

That's very true. People often don't care about the technology.

[the joint]

Technology is only one part of the game, there are so many other factors involved.

That's very true. People often don't care about the technology.

I second this.  The technical differences between various alts, and between alts and btc, is wholly insignificant right now.

[habraken]

Until one of those 'unimportant technical differences' enable a killer app for that cryptoplatform. Like eh... poker.

[box0211]

or a decentralized torrent aggregator

[habraken]

or a decentralized torrent aggregator

Something like they're trying to build here? https://nxtforum.org/general-discussion/nxttorrents-my-efforts-updates-and-need-help/

[farl4web]

or a decentralized torrent aggregator

Something like they're trying to build here? https://nxtforum.org/general-discussion/nxttorrents-my-efforts-updates-and-need-help/

It's really becoming interesting with Nxt. ...althought I am loving Nxt from day one. Always so many new projects. Very exciting and a lot of new opportunities.

[box0214]

hands down..

its the most robust and feature rich crypto-currency platform as of today vs everything else... yes even bitshares, counterparty, ethereum (wth is it?)

screw the coin...if your going to baby over the initial distribution...

I'm betting on the platform....

The developers are smart to stay out of the spotlight and be anonymous when creating this monster... Can you imagine if ethereum or bitshares or ripple were to disrupt some big government agency or corporation? Who are they going to go after? Yes the transparent creators... we know who they are easily and they are a direct target... Look at Ripple getting in trouble with the SEC, now they are "forced" to collect user id data.... Imagine if they did that to Vatlik of ethereum or the creator of bitshares once more people hop onto that platform... its a losing battle to be transparent as the creator of a coin.



Anyone that thinks its still a scam must have never installed it or has their own agenda. if it was a scam.. its the worst god dam scam ever, because they were only able to swindle 21 btc initially and they have a HORRIBLE marketing problem... barely anyone knows about it....

--nxt is the worst scam ever--

or

--nxt is the most undervalued platform ever--

[Fedoracoins]

biggest scam ever

[EvilDave]

Says the dude wearing his coin as a hat......

[NattyLiteCoin]

I love NXT, but it's too complicated, people don't get it. I get it, but I also understand that my 3 month old twins need to crawl before they walk. Crypto is just crawling right now, established coins such as BTC, LTC, PPC, will reign for the next 1/2 decade (If at all). As people become more familiar and used to a world where banks are a dying breed, NXT is going to be LEGIT.