Anon136
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May 13, 2014, 08:31:52 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? no it would be a drop in the bucket compared to 50million nxt. |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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TwinWinNerD
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CEO Bitpanda.com
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May 13, 2014, 08:31:53 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? |
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bluemeanie1
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May 13, 2014, 08:35:50 PM |
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they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees.
it's quite different than Bitcoin.
-bm
I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? well yes they can sit on their stake and just rake in the NXT in tx fees. As it currently stands the profits are pretty low, but as the software features build out there will be exponentially more tx fees thus the NXT stake will be worth far more. For instance currently many blocks are empty. As usage increases, those blocks will have TX fees which will be gathered by the NXT stakeholders during the forging process. It could have a massive compound effect as features are built out in the network. -bm |
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Voluntold
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May 13, 2014, 08:36:00 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? Account 474...888 has been forging for quite some time with 50 million Nxt, and it's not like he's increased his supply much. It's a non issue in my opinion. |
Nxt: NXT-5BHG-9VRE-QGW6-DRZVQ
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barabbas
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Merit: 1000
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May 13, 2014, 08:37:35 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? |
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Voluntold
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May 13, 2014, 08:39:38 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. |
Nxt: NXT-5BHG-9VRE-QGW6-DRZVQ
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bluemeanie1
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May 13, 2014, 08:40:56 PM |
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Account 474...888 has been forging for quite some time with 50 million Nxt, and it's not like he's increased his supply much. It's a non issue in my opinion.
the P/E will improve considerably over time. Most of the blocks are empty and that will certainly change... it has changed with the release of the AE. Hypothetically we can continue to add features until we reach some kind of capacity limits on the block chain. -bm |
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Ezravdb
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May 13, 2014, 08:42:03 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? , how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? That's not the case anymore for a loooooooong time LOOK HERE: http://87.230.14.1/nxt/nxt.cgi?action=34Here you can see the top accounts A few of them are from BTER, DGEX and CRYPTSY, the top 20 account now own less than 30-40% (rough calculation) |
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TwinWinNerD
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Activity: 1680
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CEO Bitpanda.com
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May 13, 2014, 08:42:22 PM |
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Account 474...888 has been forging for quite some time with 50 million Nxt, and it's not like he's increased his supply much. It's a non issue in my opinion.
the P/E will improve considerably over time. Most of the blocks are empty and that will certainly change... it has changed with the release of the AE. Hypothetically we can continue to add features until we reach some kind of capacity limits on the block chain. -bm yeah but I think the fee should be lower atleast 10 times! |
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barabbas
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Merit: 1000
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May 13, 2014, 08:42:43 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? |
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Voluntold
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May 13, 2014, 08:45:33 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? No, they didn't. Seriously dude, time to do some research. |
Nxt: NXT-5BHG-9VRE-QGW6-DRZVQ
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Ezravdb
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May 13, 2014, 08:45:45 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? You sir must be a troll... Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34 |
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TwinWinNerD
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Activity: 1680
Merit: 1001
CEO Bitpanda.com
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May 13, 2014, 08:45:59 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? check the distribution here: http://87.230.14.1/nxt/nxt.cgi?action=34BTC has a worse distribution. Don't make bad assumptions please. |
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bluemeanie1
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May 13, 2014, 08:48:12 PM |
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there's a lot of FUD out there because rival projects who have VC backing see NXT as a huge threat.
NXT is an open source project and even though we have great minds evangelizing for NXT, they don't really get paid- they seem to do it out of some sort of religious conviction.
-bm
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barabbas
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Activity: 1162
Merit: 1000
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May 13, 2014, 08:51:35 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? You sir must be a troll... Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem. No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits. I wanted some common sensical explanations, obviously there's nothing but blind greed. |
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Vega
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May 13, 2014, 08:53:15 PM |
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I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding?
You are working with some (incorrect) second hand information. Please take a look at the OP, follow the links, read the wiki, and other sources. |
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Ezravdb
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May 13, 2014, 08:53:22 PM |
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Then you are in the wrong topic, because there aint no 20 wallets controlling 90 % of the NXT lmao
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Voluntold
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May 13, 2014, 08:53:50 PM |
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but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant. -bm So those people with 40-50 million coins, they don't forge more? they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees. it's quite different than Bitcoin. -bm I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right? yes, but that is true for everyone only forging and not selling. What is your point? My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents? Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong? You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better. I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding? You sir must be a troll... Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem. No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits. I wanted some common sensical explanations, obviously there's nothing but blind greed. Lol, okay. Then start sprinting. Bye. Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'. Which is it? |
Nxt: NXT-5BHG-9VRE-QGW6-DRZVQ
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TwinWinNerD
Legendary
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Activity: 1680
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CEO Bitpanda.com
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May 13, 2014, 08:54:15 PM |
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UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.
No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.
I wanted some common sensical explanations, obviously there's nothing but blind greed.
Show me 10 stocks that don't have the top 10 investors hold >1/3  |
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bluemeanie1
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May 13, 2014, 08:54:45 PM |
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UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.
No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.
I wanted some common sensical explanations, obviously there's nothing but blind greed.
EIDF detected? https://nxtforum.org/alternate-cryptocurrencies/dogethereum/ -bm |
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