Topic: Is NXT planned to be inflationary? (Read 580 times)
NXT is planned to make the stakeholders mucho dinero.
nxt doesn't mining, so there isn't inflation.
I have been reading the NXT thread on https://bitcointalk.org/index.php?topic=345619.16820 for a while and just wanted to check something that made my ears prick up.
Specifically, on page 842 post 16825 by CfB. He said
"U'll get the secret phrase that opens the genesis account, everyone will be able to play a role of "BCNext"."
What did he mean by this? The genesis account started with and balance of 0 and went into negative "AntiNXT" when issued to the 73 founders.
If BCNext plans to give the passphrase away, does that others will be free to issue more NXT and each one would devalue the ones in circulations, causing inflation? Or is the genesis account capped at issuing 1 billion and if so, what would be the point of being able to access the genesis account? You can't send NXT (negative balance) and you can't receive NXT without it being destroyed.
Maybe I've got this completely wrong/misinterpreted/missed the joke.
Please could someone re-post for me in the forum above?
Thanks
Specifically, on page 842 post 16825 by CfB. He said
"U'll get the secret phrase that opens the genesis account, everyone will be able to play a role of "BCNext"."
What did he mean by this? The genesis account started with and balance of 0 and went into negative "AntiNXT" when issued to the 73 founders.
If BCNext plans to give the passphrase away, does that others will be free to issue more NXT and each one would devalue the ones in circulations, causing inflation? Or is the genesis account capped at issuing 1 billion and if so, what would be the point of being able to access the genesis account? You can't send NXT (negative balance) and you can't receive NXT without it being destroyed.
Maybe I've got this completely wrong/misinterpreted/missed the joke.
Please could someone re-post for me in the forum above?
Thanks
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