Topic: NXT :: descendant of Bitcoin - Updated Information - page 1398. (Read 2761645 times)

This analysis ignores opportunity cost. When opportunity costs are taken into consideration, owning 1million coins is no more beneficial than owing 1 coin. Except for the sense in which being wealthy is, in general, better than the alternative.

"From what I've understood the rig doesn't matter. What matters is how many coins you have in your wallet. And unless you have millions I don't think you will be forging much of anything. Please correct me if I'm wrong.

I agree that mining coins wastes of a lot of energy (Proof of work algorithms) but how does rewarding the rich for being rich (Proof of stake algorithms) make any sense at all?

An early adopter or developer that owns a huge percentage of a POS coin will be getting paid more and more for doing nothing. In POW an early adopter gets richer only if the coin actually raises in value and once he spends the coins they are gone. In POS they just keep generating more out of thin air. That is just ridiculous.


Obviously investing in a successful POS coin would me much more beneficial for ME than investing in a successful POW coin. The problem is that it won't be beneficial for others. It's just not a good way of distributing value.

For example lets say you managed to mine or buy a 1% position in POWcoin in the first month. Lets say this coin was successful and price and hashrate increased significantly after that. In order to maintain that 1% position you would have to spend ever greater amounts of money on either mining power or through direct purchasing of the coin to maintain that 1% position. If not then your position would continue to get diluted and it isn't a bad thing. For a currency to function it needs widespread adoption.

Now with POScoin you acquire a 1% position in the coin the first month and basically have to do nothing to maintain that position in the future except not sell.

In the future when BTC prices would stabilize every coin I spent would be gone. If I want to make 1 coin back I'm going to have to provide value to other people in society for them to pay me it.
With NXT I don't have to provide anything at all. I basically get paid for being rich. I can just spend the extra coins that I generate from being rich and never lose my wealth despite that fact that I am a parasite to society and offer NOTHING back. Kind of like royalty, a birthright to be rich.


What initially brought me into cryptos was the possibility of making a monetary profit. What kept me in cryptos was the realization that it can offer humanity much more. You post articles and videos of people like Andreas M. Antonopoulos all the time so you are already know what I'm talking about. I'm interested in the technology as a whole. The possibility of having aspects of society run algorithmically instead of legally. That is why it is of great importance for the underlying algorithms to represent the best social values that they can.

I didn't say the situation will get worse for those holding only a few bitcoins. I said that all people holding bitcoins won't preserve their current percentage of the coins in circulation and that is a good thing. They won't be rewarded just for owning coins either and that is also a good thing.

It seems to me that the distribution of wealth in a bitcoin economy can be altered much more easily in comparison to a 100% PoS coin economy simply because of the fact that spent coins do not somehow reappear in the wallet of the spender just because he happens to own a lot of coins.

One huge thing that bitcoin has going for it is that it is already very well established.
For now I'm waiting to see what new technologies will be layered over the current bitcoin network and what effects they will have on the bitcoin ecosystem. I just don't see a pure POS algo as being an improvement as far as social organization is concerned. In fact it seems like quite the opposite."

From a discussion in my FB page (I quote the other guy).
What are your thoughts?

Also says it isn't available in the U.S.

Edit: Had to update my iTunes, its working now

You need to PM theymos.

Update on NXT Event Marketing Project



https://nextcoin.org/index.php/topic,3441.0.html

 Briefly:
Information cards printed with redemption codes and URL information for client downloads to be handed out at Conferences and Crypto events.

The cards will be centrally printed and redemption codes generated for specific events, tied to the promoting users name, date, and location so we will be able to judge the adoption rate of new users.

Cards will be shipped at no charge to requesting users for applicable events.

Security features will be implemented to prevent abuse, and redemption codes will be date limited to prevent hoarding.

UPDATES
www.getnxt.co has been purchased as a domain
WesleyH has agreed to customize the faucet and help with the DB functions
Plenty of people have voiced their offers of translation and funding, Thanks and I will be in touch.

Please comment at https://nextcoin.org/index.php/topic,3441.0.html if you wish to contribute, request cards for an event, or have any questions.

Thanks
Jefdiesel

wait some times it has just been released maybe Apple need to propagate it in each server

Can't download it from Austria

iPhone app - iNxt RELEASED

New version with bug fix already sent to Apple!



For now functions are:

-It takes the price to DGEX
-Charts from nextcoin.pw
-Check the balance of an account
-Check transaction
-Alias<>account



If you want tu suggest new function i will be happy to add it!

i have not get any bounty or donation, if you appreciate my work please donate: 4894174904569783391


AppStore link:https://itunes.apple.com/us/app/inxt/id802351888?l=it&ls=1&mt=8

I made a new nxt related thread.

https://bitcointalksearch.org/topic/nxt-thread-wherein-large-stakeholders-foster-confidence-by-outlining-a-plan-429298

somebody we know here?

One last screen shot before I upgrade:

Bitcoin Checker:
https://play.google.com/store/apps/details?id=com.mobnetic.coinguardian

http://www.ebay.com/itm/1887-Morgan-PCGS-MS-62-Free-Shipping-Philadelphia-Mint-Silver-1-Dollar-/161200343188?pt=Coins_US_Individual&hash=item25884a0894

runs smooth no probs.

for now, nothing to complain

that is massive support, thank you.

Convert what you feel comfortable with.
Don't bet everything on one horse, even if that horse looks to be a dead cert.
Do risk management.

You are still early enough to make a big gain once Nxt takes off. People who get in at 1 Nxt = 0.001 BTC will already envy you, so don't worry

Just to let everyone here know: someone on nextcoin.org asked me to open a discussion topic per day for the summaries.
I will be trying this out on nextcoin.org and nxtcrypto, which means people on the forums will be more in touch (hopefully) with what is happening in here.

It might be interesting to check the topics out from time to time to see what other parts of the community are thinking.

First topics are here and here

I just want to say a big thank you to everybody who is involved in this great project and puts their valueable time in this (especially the core developers) so the rest of us can have one awesome crypto currency to rule them all!
I've been kind of silently following the progress of Nxt since January 9th and already I'm VERY excited about the coming months! Needless to say I could hit myself for missing out on the IPO!
Now I'm thinking about converting all of my BTC into NXT. On the one hand this would be very high risk, on the other hand I could miss out on skyrocketing prices in the next couple of months. Don't know what to do 

 

You have their names reversed.