People were able to get 5% of NxT for 1 BTC. To have the same influence in NEM you would have to buy 160 tokens ($250K+) from the 3000 stakeholders.
It's fair distribution. No instant whales, manipulators or dumpers. NEM has stability, innovation and community
It's fair distribution. No instant whales, manipulators or dumpers. NEM has stability, innovation and community
Yeah. In the end though, the wealth will always be centralized in some form or another. This is no fault of NEM, this is just how currency works. This by no means is to say a fair distribution isn't important; as it is, especially in NXT's case.
Thing is, NXT should've made more efforts for a wider, fairer distribution considering it's "Proof of Stake" nature - it's adoption by more people only serves to immediately enrich those who first got on the bandwagon by rising their stashes value. Not only this, but they're also forging more coins because thats how Proof of Stake works.
It's like bitcoin. The only difference being Bitcoin's hashing power isn't consolidated into those who hold the most Bitcoins (Unless they've invested into mining tech). Neither of which are ideal. Alternatives to these currencies is why i got interested in NEM. If nem rewards those who spend, and not horde, as a currency it's going to do very well. A currency aint worth nothing if it's not being used for purchases and trade.
Inequality of outcomes is acceptable, so long as people still have equality of opportunity. The problem with the current system is that those in power remove opportunities from those with no power. There are many examples of this: you can't day trade unless you have 25,000 USD in your account, you often have to pay a charge to keep your account open if you have less than a certain amount of money, etc. To those who have, more is given; those who do not have, even what they have is taken away. This is not a just system.
