NXT :: descendant of Bitcoin - Updated Information - page 1595.

loopgate88

full member

Activity: 140

Merit: 100

Quote from: Anon136 on January 16, 2014, 11:09:36 PM

However once you have all of the conveniences that comes from the infrastructure built around it, you will no longer have the opportunity for the sorts of gains that you may see if you bought now.

Life is all about trade-offs.

Valid point indeed. Maybe this means that I am saying NXT is significantly over valued now...

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: loopgate88 on January 16, 2014, 11:21:52 PM

Quote from: Anon136 on January 16, 2014, 11:09:36 PM

Quote from: loopgate88 on January 16, 2014, 11:05:57 PM

Quote from: xgc on January 16, 2014, 11:04:08 PM

Quote from: loopgate88 on January 16, 2014, 11:03:01 PM

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD by acquiring Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run, it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

currently.

but future you might be able to USD->Coloredcoin->NXT

plus I am sure you will see fiat->nxt exchanges at some point.

When? Any projects currently in the works?

you have to understand how early you are to this party. nxt is just a little itty bitty baby infant still sucking on cfb's milky teat. the advantage is that you have the posability for windfall profits if it makes it big, the drawback is that you dont have conveniences like fiat exchanges.

The tit delivers the milk but the cow makes it. Bitcoin is the cow.
My impression is that this means that if btc devalues by a factor of 5 over the next month (let's ignore the following recovery down the road for the sake of argument), NXT will also devalued by a very similar factor. The lack of ease there is in buying NXT with USD isn't as much an issue as how excessively easy it is to convert btc to NXT.

It's your choice friend. Do what you think is wisest. I'm rooting for you, i hope what ever choice you make is the right one.

loopgate88

full member

Activity: 140

Merit: 100

Quote from: Anon136 on January 16, 2014, 11:09:36 PM

Quote from: loopgate88 on January 16, 2014, 11:05:57 PM

Quote from: xgc on January 16, 2014, 11:04:08 PM

Quote from: loopgate88 on January 16, 2014, 11:03:01 PM

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD by acquiring Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run, it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

currently.

but future you might be able to USD->Coloredcoin->NXT

plus I am sure you will see fiat->nxt exchanges at some point.

When? Any projects currently in the works?

you have to understand how early you are to this party. nxt is just a little itty bitty baby infant still sucking on cfb's milky teat. the advantage is that you have the posability for windfall profits if it makes it big, the drawback is that you dont have conveniences like fiat exchanges.

The tit delivers the milk but the cow makes it. Bitcoin is the cow.
My impression is that this means that if btc devalues by a factor of 5 over the next month (let's ignore the following recovery down the road for the sake of argument), NXT will also devalued by a very similar factor. The lack of ease there is in buying NXT with USD isn't as much an issue as how excessively easy it is to convert btc to NXT.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: IveBeenBit on January 16, 2014, 11:13:13 PM

Quote from: 2Kool4Skewl on January 16, 2014, 10:03:36 PM

The biggest advantage of PoS over PoW is that the blockchain is secured by the people and not by the entity that has the most hashes. Once you own a certain percentage of Nxt, you always provide that same percentage of security for the network. This is not true with PoW. In PoW, if you have 0.1% of the hash power today, you won't necessarily have 0.1% of the hash power / security tomorrow. An unwanted entity can overpower all the miners and take over the chain. Nxt solves this problem and ensures that the security of the network remains with the people.

I'm curious about how me owning NXT provides security to the network.

And does someone that owns 1,000 NXT provide more security or the same amount of security as someone that has 100 NXT?

Owning nxt doesn't but using the nxt that you own to forge does. In-order to doublespend a person needs to silently make a chain that is longer (technically chains arnt selected by length in nxt but i dont want to get into that here) than the chan that is being used currently and publish it absent the transaction that he wishes to unspend. The more evenly distributed the stake the less likely it is for someone to be able to silently get multiple blocks in a row. By having a portion of the stake and forging with it you help to make this distribution more even (unless you own too much of it).

anyway thats not a perfect explanation its just a quick overview of the basic idea.

IveBeenBit

sr. member

Activity: 449

Merit: 250

Quote from: msin on January 16, 2014, 10:26:23 PM

Quote from: dzarmush on January 16, 2014, 10:01:35 PM

Wut? GW is a proved fake. Even pro-global-warming "scientists" already agreed to change its name to "global climate change" since everyone sees that it's total crap. There were always periods of global warming and global cooling and they will always be. It has nothing to do with us. Especially with mining.

Really, what planet do you live on, not earth.

Yeah, we should probably downplay the "carbon footprint / global warming" thing. The global warming ship has sailed, fewer and fewer people believe in it as time goes on.

We CAN say that Nxt "conserves resources," as that is not up for debate and the people that still believe in global warming can make their own connections to carbon footprints and what not.

It's funny, but 20,000 years ago, in the spot right where I am sitting, there w a glacier two kilometers thick. Now it's melted and the nearest glacier is 2200 km away. I used to blame that on carbon emissions from the industrial revolution, but people kept laughing at me, so I became a climate change denier.

IveBeenBit

sr. member

Activity: 449

Merit: 250

Quote from: 2Kool4Skewl on January 16, 2014, 10:03:36 PM

The biggest advantage of PoS over PoW is that the blockchain is secured by the people and not by the entity that has the most hashes. Once you own a certain percentage of Nxt, you always provide that same percentage of security for the network. This is not true with PoW. In PoW, if you have 0.1% of the hash power today, you won't necessarily have 0.1% of the hash power / security tomorrow. An unwanted entity can overpower all the miners and take over the chain. Nxt solves this problem and ensures that the security of the network remains with the people.

I'm curious about how me owning NXT provides security to the network.

And does someone that owns 1,000 NXT provide more security or the same amount of security as someone that has 100 NXT?

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: loopgate88 on January 16, 2014, 11:05:57 PM

Quote from: xgc on January 16, 2014, 11:04:08 PM

Quote from: loopgate88 on January 16, 2014, 11:03:01 PM

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD by acquiring Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run, it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

currently.

but future you might be able to USD->Coloredcoin->NXT

plus I am sure you will see fiat->nxt exchanges at some point.

When? Any projects currently in the works?

you have to understand how early you are to this party. nxt is just a little itty bitty baby infant still sucking on cfb's milky teat. the advantage is that you have the possibility for windfall profits if it makes it big (like investing in bitcoin in the first months), the drawback is that you dont have conveniences like fiat exchanges. However once you have all of the conveniences that comes from the infrastructure built around it, you will no longer have the opportunity for the sorts of gains that you may see if you bought now.

Life is all about trade-offs.

loopgate88

full member

Activity: 140

Merit: 100

Quote from: xgc on January 16, 2014, 11:04:08 PM

Quote from: loopgate88 on January 16, 2014, 11:03:01 PM

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD by acquiring Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run, it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

currently.

but future you might be able to USD->Coloredcoin->NXT

plus I am sure you will see fiat->nxt exchanges at some point.

When? Any projects currently in the works?

xgc

member

Activity: 69

Merit: 10

Quote from: loopgate88 on January 16, 2014, 11:03:01 PM

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD by acquiring Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run, it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

currently.

but future you might be able to USD->Coloredcoin->NXT

plus I am sure you will see fiat->nxt exchanges at some point.

loopgate88

full member

Activity: 140

Merit: 100

Quote from: gbeirn on January 16, 2014, 06:33:24 PM

Quote from: loopgate88 on January 16, 2014, 06:21:11 PM

Got USD to buy NXT. Where do I go from here?

I might be willing to do Paypal. How much were you looking for?

Thank you for the offer. Is the only way to acquire NXT with USD to acquire Bitcoin first? This boggles my mind as it really would be distinguishing for a post Bitcoin currency to have direct exchange with, at least, USD. Alt coins have this problem but they can, for the most part, be mined which means direct access to them. Not that this helps all these worthless coins in the long run but it still is an advantage over NXT. Please tell me I am wrong and Bitcoins aren't our only gateway to NXT ownership.

xgc

member

Activity: 69

Merit: 10

gratz to all the 1K'ers

xyzzyx

sr. member

Activity: 490

Merit: 250

I don't really come from outer space.

Quote from: rickyjames on January 16, 2014, 10:34:13 PM

1000!

Typed in the to go lane at Dairy Queen waiting on a Georgia Mud Fudge Blizzard! Yum!

I had a hard time processing that because ~~colorless green ideas sleep furiously~~ I didn't know what a Georgia Mud Fudge Blizzard was.

But then I understood you.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: msin on January 16, 2014, 10:32:41 PM

I remember coming here at page 36 thinking I had already missed the boat. Congrats on 1000!

I remember coming here somewhere around page 200 and one of the main reasons I got into Nxt was that the thread was growing amazingly fast. I decided that the coin should be unbeatable with such community.

Anon136

legendary

Activity: 1722

Merit: 1217