this condensed nature is precisely the problem with POS. as i understand it looking back in this thread, NXT is highly concentrated amongst it's early adopters which is the opposite of what you want. i fail to see how this improves with time; in fact, it should only get worse the way that forging works.
the worse scenario can get much worse; as in going to zero.
the worse scenario can get much worse; as in going to zero.
Anything can go to zero, there is no insurance against that, only taxes can't
The argument of distribution in NXT is beaten to death already. You can think of NXT distribution as having 2 stages: Stage 1 - initial distribution to 73 people. Stage 2 - is ongoing and will take years to unfold. Original stakeholders have been selling for almost 9 months, otherwise where would all the coins on the market come from?
They need to cash out, they won't hold forever, just like in Bitcoin early adopters cash out.In the end, all currencies tend to follow Pareto Principle, where 80% of the coins end up in the hands of 20% people. That works in real life, there is no reason it will be different with crypto currencies.
Stage 1 initial distribution of 73 people is wrong. It is 73 anonymous accounts on bitcointalk forum and the entity
"BCNext" (whoever that is could be the FED for all we know) controls 50 or more of those accounts and sent more than 90% of all the initial money to himself (they actively discouraged to sent large amounts).
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This will be done by sending a small amount of BTC to my own address. I bet most of you have just thought “I got the catch!” Hold on, I don’t ask you to send thousand USD worth coins, a few satoshis is enough
He sent himself high amounts (max was 1BTC) to himself with the accounts created at the forum. As the initial distribution is according to satoshis sent, the guy sending a few satoshis still got millions of nxt. Next stage is to buy heavy from the reaming early adaptors and get another couple% of coins, site effect price rise. Now having full control of the price current
Its a scam it its purest form and fails miserable as money you can not stake and spend at the same time.
2 types of Nxt shills are either part of the scam or completely clueless.
Bitcoin is a intangible good, a commodity
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"The price of any commodity tends to gravitate toward the production cost" -Satoshi
http://crypt.la/2014/01/06/satoshi-nakamoto-quotes/.
It does not matter what Pos system is used for a Pos coin, they all are vulnerable to a social 51% attack.
In the case of nxt no attack is needed as its game set match from the start. Those Lithuanian guys who created nxt always had full control.
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