but many more continue adding coins by forging massive amounts
no the total NXT in circulation does not increase. The money supply is constant.
-bm
So those people with 40-50 million coins, they don't forge more?
they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees.
it's quite different than Bitcoin.
-bm
I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right?
yes, but that is true for everyone only forging and not selling. What is your point?
My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents?
Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong?
You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better.
I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding?
You sir must be a troll...
Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34
UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.
No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.
I wanted some common sensical explanations, obviously there's nothing but blind greed.
This is a legit question. If you look back in time (thank you archive.org, 19th april : https://web.archive.org/web/20140419201626/http://87.230.14.1/nxt/nxt.cgi?action=34), you'll see that the coins pretty sticked to the top holders - distribution was even worse before as there were a few 50,000,000 wallets, now only 2 remaining. This problem is not new, and many ppl saw this as a threat. Time showed us that in the 6 months ++ period, that no big holder sold his coins abruptly.
Now, ask yourself this question: "what is my interest, by being a huge holder of NXT, to see the price decline?" None. The best way to see it decline is through the liquidation of the wallet of one of the... big holders. There is a huge difference between the amount of wealth you have based on the market price, and the total amount you can get by liquidating your position. You may have 6 million USD with 50million NXT at a market price of 0.0000716, but if you cash-out, you may have to put the market at 0.000001, or even less, depending on the order book bids - thus, ending up with way less than the expected 6 million USD.
In a nutshell, it is in the interest of those big holders to... keep the coins. Let alone all the projects that are blossoming all over the place.
Indeed it is. But people have personal projects, needs, etc. That's why, as you point out, they are getting out of their millions of dollars positions "orderly". This "orderliness", of course, holds the price down which, in turns, hurts the minor investors that don't see their investment grow and also hurts the coin appreciation for it becomes "boring" and doesn't attract traders and new investors, all of which is perfectly legit and goes with the territory when a coin has the humongous distribution problem that this one has.
But the foreseeable big problem is not just the distribution itself, bad as it is. If just a few of these big holders get together -assuming they are not in it together already, what could possibly stop them for perpetrating a 51% attack and take ALL the rest of the coins? Remember, there's absolutely no accountability in crypto...
