Is Bitcoin's dominance really about to be challenged?

[pinksheep]

http://www.bloomberg.com/news/2014-07-18/bitcoin-dominance-challenged-as-danish-bourse-offers-nxt-trading.html

[Ayers]

challenged by a scam coin

[achimsmile]

http://www.bloomberg.com/news/2014-07-18/bitcoin-dominance-challenged-as-danish-bourse-offers-nxt-trading.html

Yes I think Nxt will challenge bitcoin.

Feel free to jump into the friendly community over at: https://nxtforum.org/

[peeveepee]

Don't forget NXT is a proof of stake coin.

It is not decentralized and has a single point of failure.

[Tzupy]

Until now most alts were traded for bitcoins, creating extra bitcoin demand, but if they start trading directly for fiat
then there will be some extra seller pressure on bitcoin. Challenged, I don't think so, not yet.

[scryptasicminer]

Who control the supply and distribution of NXT coin?

[caveden]

Don't forget NXT is a proof of stake coin.

It is not decentralized and has a single point of failure.

Your second phrase doesn't follow as conclusion from the first. Why do you claim it has a central point of failure?

Who control the supply and distribution of NXT coin?

AFAIU it was like MasterCoin, an IPO-like thing. All coins were created in the genesis and distributed proportionally to initial investors. There's no inflation.

[achimsmile]

Don't forget NXT is a proof of stake coin.

It is not decentralized and has a single point of failure.

Sorry, I don't want to sound harsh, but people repeat this sentence like parrots...

Nxt has 25k+ wallets with a balance greater than 0 and  a lot of active nodes
It doesn't use central checkpoints like peercoin

Where is the single point of failure and why is it not decentralized?


The more "scam" shouters I see here, the more I get the feeling that Nxt is indeed challenging bitcoin.
"First they ignore you, then they laugh at you, then they fight you, then you win."

I think we are at the beginning of phase 3.

[achimsmile]

Who control the supply and distribution of NXT coin?

No one controls the distribution of NXT coin, because distribution is over since November 2013 (after two months of open IPO): https://bitcointalk.org/index.php?topic=303898.0

Supply is controlled by every Nxter, here is the current distribution: http://charts.nxtcrypto.org/cDistribution.aspxhttp://charts.nxtcrypto.org/cDistribution.aspx

[InwardContour]

NXT was one of the most promising coins of 2013, but in 2014 has proved it wasn't only a common altcoin,
but a new different type of virtual currency. For this reason it was called the successor of bitcoin by many users here.
In my opinion in the future it will eventually be placed side by side with btc, but I don't think NXT will ever substitute it.

[achimsmile]

NXT was one of the most promising coins of 2013, but in 2014 has proved it wasn't only a common altcoin,
but a new different type of virtual currency. For this reason it was called the successor of bitcoin by many users here.
In my opinion in the future it will eventually be placed side by side with btc, but I don't think NXT will ever substitute it.

+1

[gentlemand]

NXT has a ton of amazing development but I'm not so sure it'll ever shake off the stigma of the appalling initial distribution. That's the first thing that most mention about it even now.

If it wasn't for that I'm sure it would've surged ahead by now.

[alex0909]

Delusion...

Asset exchange, multigateway (Yes you heard it, trade all altcoins in a decentralized manner on the nxt platform) and a ton of other features that are coming.

If all this is not promising.. It's funny how bitcoiners try to trash Nxt just like Fiat holders trash bitcoin.

Best thing is, these two features are already launched and work.

More to come. Btw it was launched in november 2013, so it is less than one year old. Check the GUI and see what a 2.0 coin is about.

Best part is that they are complementary. Most Nxt holders are true bitcoin believers, we complement bitcoin in various ways.

[achimsmile]

Until now most alts were traded for bitcoins, creating extra bitcoin demand, but if they start trading directly for fiat
then there will be some extra seller pressure on bitcoin. Challenged, I don't think so, not yet.

It already happened, NXTUSD, NXTEUR, NXTCHF, NXTGBR etc.

https://www.ccedk.com/nxt-usd

They take SEPA or SWIFT

[Dalmar]

NXT has a corny name, it will never catch on. It's trying too hard to be the next best thing.

[huobi_network]

There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R (https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win.

[nomoreheroes7]

NXT has a corny name, it will never catch on. It's trying too hard to be next best thing.

Lol honestly I think that's the one biggest drawback to NXT -- what a terrible, terrible name.

[achimsmile]

There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R (https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win.

Make the BTC richboys even richer?

[inca]

There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R (https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win.

Interesting idea there. It may be that a usurper uses this route to dominance in later years. But lets be honest that isnt going to be popular with users of altcoins that have bought in specifically to acquire early adopter status in the nxt big thing.

Anyway this is a bitcoin forum. Can we get back on topic please!

[Torque]

And a billion units.  Even if NXT survives long term, it'll take 10+ years for a single NXT to even reach $10 parity.  Even at $10/NXT, you still wouldn't be able to run large financial markets on that.

Plus, the initial PoS distribution is even worse that Satoshi having 1M btc.  In the NXT world, they'll be at least 12+ such Satoshis to rule the entire NXT kingdom. Also, many of NXT's supposed "2.0 features" are not even implemented, so they are complete vaporware.

But Shhh! don't tell the NXT zealots all this stuff.  They don't seem to care about the truth.

No thanks.