Why do you say NXT? I am still new to CryptoCoins, but to me it doesn't sound interesting plus it doesn't seem to have that much noise?
(I am curious and want to learn, no offence!)
Hello,
In regards to nxt, I think there are many pros and cons to this coin. I personally bought some cheap for myself and some family members. Here is some information from their website-
http://www.nxtcrypto.org/nxt-coin/what-nxtBut this is obviously a little bias, so here is my honest opinion, even though I have alot to gain the more people that buy this 'coin'.
What first drew me to nxt was its insane amount of features (yet to be implemented) it was promoting and the fact that it is 100% proof of stake. It's very debatable but I think pos is the future since mining can actually be very technical for the novice user and pos doesn't require any real effort at all (anyone can do it at not extra expense of top of your current coins, which is what you want anyway!). I can't be bothered to list the features and explain why I like them but it should be obvious.
On the other hand there are the cons. This coin was, what is called in the proof of work world, 'pre-mined'. This means all of the nxt coins were created instantly and distributed. This is only bad because of the way this coin was distributed, which is to the quantity of people, the marketing done to make more people aware and what I think is worse, the current price (rumoured to be manipulated to be higher) on dgex (the temporary centralized exchange). So this was done through an IPO, people had like a number of weeks notice? maybe, I don't know how long but people essentially invested in this coin they didn't know was a scam or not and would receive that percentage of their contribution in nxt coins. There were around 70 contributors(wallets at least), giving a total around 22 btc. This is bad when you consider that there are 1 billion coins and to make it worse the current price is 0.000055 btc/nxt.
Some simple math, if one could sell all at the current price which is impossible (for now), so the rumour is people sort of stack their selling over time to get the most out of selling and fluctuating the price (I believe this has to happen to eventually distribute the coins)-
On averages, 70 people. 22 btc.
That is 0.31 bitcoins each.
Which gives every person around 14 million nxt each.
At the current price, 14 million would yield 785 btc.
This equals around 250 000% profit if they were to sell everything at this price.
Now you have to ask yourself. Do these people deserve this much profit(as they risked $100's on what could very have been a scam)? Is the coin that great that it can get through this delivery of wealth to such a small few (if they sell)? Will the stakeholders even want to sell? Will the promised features ever be released? Will a clone take over and market, release and be better than nxt?
In my opinion.
Short term = big risk at any price.
Long term = if it survives the short term, very very high profit margin potentially available.
This is all my personal opinion. I gain a lot by nxt succeeding but only because I believe in it and have therefore invested.
On another note, eMunie appears to have addressed every 'con' nxt has, plus all of the pros and much more. It is a completely different ball game and follows the quantity theory of money. It isn't for large profits (but could potentially over time) but looks very innovative.
Regards,
Lovely.
