I am pretty confident we are the new wealthy elite, gentlemen.

[MarketNeutral]

I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.

I'm curious how NXT will react to the development of bitcoin's Lightning Network.

[RealBitcoin]

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

[jbreher]

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

[Minecache]

Yup I still hate this thread. And still believe it should be locked down for eternity. Circle-jerking is not most becoming of a real gentleman.

[zimmah]

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Faster block time doesn't solve anything, it only makes it less secure. Which means you need more blocks for the same security and there is much more risk of orphaned blocks or conflicting chains.

[Mark Frappeles]

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

Think about the stress testes with 1 min block time, the hell it would be.

Faster blocks mean less resistance to spam attacks too

[EdenHazard]

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

i really agree with that tittle,"bitcoin is the economic singularity"
yes because bitcoin have special place on world economic,bitcoin is different,and i'm also agree if we are the next wealth gentelman,and its just how we can use this chance to be real wealth man. i wish i can use this chance to safe some money for future.

[larem]

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

ATH  coming Jan 2016. And it wont be hard to get there.

Not even close. I think we *might* hit 700 in 2016 sometime, but that's a big if. 1250+ wouldn't be for at least another year (though with the way economies are going... this could be wrong).

[Amph]

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate

[RealBitcoin]

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate

Yea 1 min is pretty solid, i would even go as far as 3 min.   But 10 min seems too slow for me.

I have to wait usually 20-30 min for a TX to complete, it's ridiculous.


How spoiled we became, for bank transfer we wait 4 days, and we are angry to wait 30 min for bitcoin transfer

But still, if its possible, why not make it 2-3 min long?

[bitsmichel]

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

besides fastcoin, there were not other altcoin with a faster block time, 1 min is considered the best for altcoin already lowering even more is only asking for a better orphan rate

Yea 1 min is pretty solid, i would even go as far as 3 min.   But 10 min seems too slow for me.

I have to wait usually 20-30 min for a TX to complete, it's ridiculous.


How spoiled we became, for bank transfer we wait 4 days, and we are angry to wait 30 min for bitcoin transfer

But still, if its possible, why not make it 2-3 min long?

The transaction time 10n times is faster, but is it as secure 

[larem]

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

[faxmachine]

I am pretty excited about where btc's are going, it's crazy how fast it was fluctuated over the years. Just a few years ago when the silk road was around they were worth 1 usd. Then when that crashed it soared up to 1200$, but quickly went back down to 300$. I wonder if people sold off there btc's when they reached there peak and actually found buyers, because for a buyer that seems like a bad investment considering how fast it lost that high value. It's not like gold where the price just goes up and stays up. It's still an amazing currency that can't be effected by government inflation, it's a currency for the people, so i would gladly turn my usd into btc because it feels safer then usd which is always printing new money via the federal reserve. Evil bank cartels can't be in control of it, the control is spread out amongst all of us. Pretty awesome.

[CoinCidental]

I am pretty excited about where btc's are going, it's crazy how fast it was fluctuated over the years. Just a few years ago when the silk road was around they were worth 1 usd. Then when that crashed it soared up to 1200$, but quickly went back down to 300$. I wonder if people sold off there btc's when they reached there peak and actually found buyers, because for a buyer that seems like a bad investment considering how fast it lost that high value. It's not like gold where the price just goes up and stays up. It's still an amazing currency that can't be effected by government inflation, it's a currency for the people, so i would gladly turn my usd into btc because it feels safer then usd which is always printing new money via the federal reserve. Evil bank cartels can't be in control of it, the control is spread out amongst all of us. Pretty awesome.

Gold did what?

[2double0]

I am pretty excited about where btc's are going, it's crazy how fast it was fluctuated over the years. Just a few years ago when the silk road was around they were worth 1 usd. Then when that crashed it soared up to 1200$, but quickly went back down to 300$. I wonder if people sold off there btc's when they reached there peak and actually found buyers, because for a buyer that seems like a bad investment considering how fast it lost that high value. It's not like gold where the price just goes up and stays up. It's still an amazing currency that can't be effected by government inflation, it's a currency for the people, so i would gladly turn my usd into btc because it feels safer then usd which is always printing new money via the federal reserve. Evil bank cartels can't be in control of it, the control is spread out amongst all of us. Pretty awesome.

Perfect explanation, full scenario in just few sentences.
And yes, one should really invest into BTC instead of any other commodities comparing the % of returns they get yearly.

[oser41eric]

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

I totally agree with you. That's one of the main reasons I jumped off of NXT a while ago.

[USB-S]

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Scenarios:

I want to sell 10 assets/coins on NXT
I create a new sell order (1 NXT fee). I wait for the blockchain to confirm it
30 minutes later I realize the price is going down and I want to jump on it
I cancel the order. Wait 1m for it to finish
I set up a new order. Wait 1m and pay 1 NXT fee

(Total time to do this? 3m on average)

On an exchange:

I want to list 10 assets/coins. I input the amount/value and click "Sell"
It's instantly added to the list free of charge
I see the price going down and want to jump on it
I hit cancel. It's instantly returned to me. I re-list at the new price free of charge, instantly

Total time? As little as half a second all-in.

For someone who day-trades a lot, NXT simply isn't feasible for non-stop trading.

I totally agree with you. That's one of the main reasons I jumped off of NXT a while ago.

However you can have NXT assets off the blockchain. I think SuperNET was listed on poloniex. Regardless of this I think that SAE has bigger volumes. In my opinion if you want to create any asset on a blockchain, NXT is the way to go.

[Bitcoinpro]

got in on Page 10

[knightkon]

Faster block time doesn't solve anything, it only makes it less secure. Which means you need more blocks for the same security and there is much more risk of orphaned blocks or conflicting chains.

Please explain how faster confirmation times makes the process less secure?  I do agree that there are more of a chance for orphaned blocks which is not really ideal, but I do not see where it would be less secure.  I think that over time when there are more transactions being processed, there would be faster confirmations because the miners would not be waiting for more information in order to fill the blocks, but I may be incorrect about the way that process works.

[Elwar]

Bitcoin transaction speed is seconds.


seconds



10 minutes is confirmation time (actual recording on the blockchain).



Once a transaction is seen on the network (in seconds), you can be 99.99% sure that the transaction will be confirmed (recorded on the blockchain) unless you are dealing with a scammer who could "possibly" double spend.

I have traded thousands of dollars with people in person where I send the bitcoins, they see it pop up on their phone in seconds and we shake hands and go our merry way.