Do your research.
1- For starters ascertain whether NXT is like Bitcoin or Litecoin. Bitcoin and Litecoin are decentralized and can be mined by the general crypto-public. Which is the initial intent of cyptocurrency (decentralization). NXT is _________________.
2- Take a look at
www.coinmarketcap.com to see how NXT is ranked for market cap and make a note of how it moves several million dollars in market cap when there is only $80,000 to $100,000 in total 24 hour volume.
Come back and share your thoughts.
the funniest thing he mentions mining as being what decentraliztion is all about when in fact mining is the most centralized activity in the bitcoin ecosytsem and it is a known fact.
even the most diehard bitcoin enthusiast will tell you that.
there's a reason why bitcoinfoundation are trying to develop p2p mining....cos guess what....it ain't decentralized at the moment. and it is now pretty much in the hands of the main 4 pool cartels.
also nxt has low volume cos it is not listed on any main exchange yet (there's only dgex which sucks)
if the presence of big stakeholders (manipulating the market )means centralization then bitcoin and litecoin are in a pretty bad position too (with 50 or so owning more than 30% of all coins and often pumping and dumping)
nxt after 3 months (many of the original investors already dumped) is already more evenly distributed than bitcoin/litecoin are .
answering the question of the OP......NXT does what it says on the tin..it works as intended.
some people question the distribution cos Bcnetx sold off the genesis block for 21 btc to investors isntead of giving out the coins for free to the whole world , which is impossible anyway.(btw believe it or not miners are not even 0.01% of the wolrd population.)
as a technolgy it is currently my favourite one although it is still delivered in a rough form (haven't checked the new client yet....)
i wonder if some clone of NXt which just gives coins away for free to all who ask would be perceived better.....i'm sure miners would still complain cos their big rigs to give them an advantage any more...
