Not interested in a coin 80% distributed to 25 persons.
Sorry.
Sometimes the crypto world baffles me completely.
People will happily throw their money at centralised corporate projects or insanely obvious IPO/ICO scams, and then moan that NXT has a dodgy initial distribution.
So heres my 4 cents on NXT distribution:NXT was announced widely here on BTT, it was basically born here, and the 73 people who invested a grand total of 21 BTC in the baby NXT project are simply guys like us, who got very lucky on an investment. So why all the hate on them ? Because they got lucky or had very good judgement ?
Most of the initial stakeholders have also worked hard to build NXT up, and to support the dev and marketing teams with funding. Don't forget that NXT has had no external, corporate investment, and the entire project has been financed by bootstrapping itself, from the ground up. How many other top 10 cryptos can claim that?
Big stakeholders are a feature of all cryptos, from BTC on down: 1 million BTC are held in Satoshi's original accounts, 70% of XRP is still in the hands of Ripple Labs....I could go on. Compared to some systems, NXTs current distribution is pretty good, and there are some benefits in terms of network stability in having some large stakeholders. The argument that the whales could kill the price by dumping all their NXT is, by now, not really an issue. NXT whales have proven over the last year that they will act for the benefit of NXT.
Now, the bit you really need to pay attention to:NXT is playing a long-term game, not just pump, dump and run. NXT provides a suite of powerful tools that allows people to do whatever they want with their crypto finances, with no restrictions, which a lot of people are finding useful. There are already a lot of external projects built on the NXT core, and the network/eco-system is growing fast. NXT has the potential to grow much, much further in 2015 and beyond.
So heres the thing: if NXT rolls up to, lets say $120 milllion market cap (which it has already hit once, back in the happy time of last year) then every dollar/euro/BTC invested in NXT today will rise by 1000%.
Which is a nice potential profit, and will be
10 times larger than the profit that the stakeholders have made on it.Hell, even if NXT only doubles its market cap from here....an investor will make exactly as much profit on the NXT he/she buys now as the stakeholder did who sold it to him/her.
So can someone please explain to me exactly how this is unfair?
