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Topic: NXT :: descendant of Bitcoin - Updated Information - page 290. (Read 2761645 times)

legendary
Activity: 2156
Merit: 1070
The value of NXT *can never be very high* as it is basically just *fuel* to run the engine. There seem to be a lot of people in this forum who just "don't get this" (perhaps because "greed" is blinding them to reality).

I'm just going to let this reverberate here for a while. I don't even know what to say to this...yet

Good - let it "sink in" and hopefully a few others will too.


If you have powers to predict markets so well you could make a lot of money on Wall St. Crypto-currency is kind of a new thing by the way and everything about it is unprecedented. The halls of history are lined with the skins of those who thought they could predict the market and I think it's a bit presumptuous of you to say you can predict with certainty what Nxt will be worth.  Market forces are unpredictable, based on emotions, crowd mentality and many other factors including economic, financial and political. If math and market caps could predict everything about markets there's be no Stock market.  

NXt just like XRP is the only trust-less currency that exists in the system, therefore there is a potential for value, depending on the value of the entire ecosystem. All other assets issued are worth only what you can trust the issuer for.

I think I'm starting to see the deep distaste that some in the Nxt development community have for speculators: ie: NXt investors. I find it very concerning and I'm hoping others might pipe in here.








I think the issue is more that both investors and developers when they argue, both have good points.

But as I do not think investors should run around complaining about or celebrating prices, I also don't think developers should condescendingly dismiss investors concerns.

Investors are the marketers, the mouth pieces for innovation. Bitcoin, had there been no promise of value, no speculators, would not exists as it does today if at all.
sr. member
Activity: 644
Merit: 250
You said "The value of NXT *can never be very high".

Yes - but what is *very* - hardly a "specific" number right?

Logically if 1 NXT is 1 USD right now then no-one would use the Nxt platform as it would cost you 1 USD to send 1 USD.


This is the reason why NXT's tx fee should be reduced.  Low tx fees encourages NXT to be used as a platform and will help support its price.
legendary
Activity: 2156
Merit: 1070
You said "The value of NXT *can never be very high".

Yes - but what is *very* - hardly a "specific" number right?

Logically if 1 NXT is 1 USD right now then no-one would use the Nxt platform as it would cost you 1 USD to send 1 USD.


Right. But you assume that the cost to make a transaction would always be 1 Nxt. Unless this is an ultimatum that cannot ever change, then I am not sure why this matters.

Also, I am not sure why Nxt would be best served to be a platform for micro transactions. Seems very limiting.

legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
Why waste ur time guys?

Indeed it can get a little tedious in this topic.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
You said "The value of NXT *can never be very high".

Yes - but what is *very* - hardly a "specific" number right?

Logically if 1 NXT is 1 USD right now then no-one would use the Nxt platform as it would cost you 1 USD to send 1 USD.
full member
Activity: 126
Merit: 100
Going around telling people to accept the fact that Nxt won't be worth much just because you have a vision for it that you desire, is disingenious and and really is just counter productive.

I am doing no such thing - I am simply pointing out that the "market will decide" what the value of NXT will be and what the "parameters" are.


You said "The value of NXT *can never be very high".

Why waste ur time guys?
legendary
Activity: 2156
Merit: 1070
Going around telling people to accept the fact that Nxt won't be worth much just because you have a vision for it that you desire, is disingenious and and really is just counter productive.

I am doing no such thing - I am simply pointing out that the "market will decide" what the value of NXT will be and what the "parameters" are.


You said "The value of NXT *can never be very high".
legendary
Activity: 1162
Merit: 1005
I think @salsacz was thinking about having the NXT core itself his mobile phone.
I wanted to know if this video will be truthful: http://youtu.be/cP4KFH6Iz0g?t=37s (Nxt cryptocurrency: green energy (green coin mining) )

Yep, I know. Smiley

It requires NXT core on the mobile phone. Otherwise, you would not forge ON your mobile phone. Wink

Theoretically it is possible to forge on smartphone, but it's complicated for now. I can forge on my Android TV stick, but need to root it and install ubuntu on it. For now my TV stick works as public node. I tried to do the same thing with my Xperia Arc, but with no luck, NRS kills the ubuntu on it. I don't know it is memory or processor related. It's quit old smartphone, but I didn't try on newer ones.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
Going around telling people to accept the fact that Nxt won't be worth much just because you have a vision for it that you desire, is disingenious and and really is just counter productive.

I am doing no such thing - I am simply pointing out that the "market will decide" what the value of NXT will be and what the "parameters" are.

It wasn't *my idea* to create a "2nd Gen" crypto "platform" but that is what we have (so pretending it is just like LTC is not going to work).
sr. member
Activity: 644
Merit: 250
NXt just like XRP is the only trust-less currency that exists in the system, therefore there is a potential for value, depending on the value of the entire ecosystem. All other assets issued are worth only what you can trust the issuer for.

I agree.  NXT derives some of its value because it is the trustless intermediate currency in the NXT ecosystem.
legendary
Activity: 2156
Merit: 1070
Ok. Then explain the incentive to be a POS stakeholder if you can't earn fees and your Nxt is basically worthless? And please answer something besides "you can sell a product as an asset."

There *will always be fees* even if they have to be reduced quite a lot down the track.

How will POS fee rewards compare to say a "bank account" - not sure although already a large % of people get 0% return from their bank accounts so there is still at least some attraction to "having stake" and leasing out your "forging rights".

Always - to earn money you would be best to work and/or invest wisely.

Consider perhaps "buying Asset shares" if you see a promising listing.


I'm sorry. I just don't think you live in reality. While you test the AE, the majority of the community is working to develop Nxt as a currency so that it has real value growth AND can exist as both a currency and a platform. And that majority isnt going to change because most of them want to promote their current investment, not a future investment of someone else with an asset to sell.

Now, your model may evolve over time and there might be a day where it could work that way. But that would only be through evolution.

Going around telling people to accept the fact that Nxt won't be worth much just because you have a vision for it that you desire, is disingenious and and really is just counter productive.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
If you have powers to predict markets so well you could make a lot of money on Wall St.

I don't have such powers although I did make quite a bit of money from a few well chosen stocks (such as Sun Microsystems back in the early 90's).

I am "no hippie" but I do *get* what Nxt actually *is*. It is *not* another "pump and dump copy coin" but instead a *platform*.

Right from the start Nxt was presented without the word "coin" and this among other things was *deliberate*.
sr. member
Activity: 644
Merit: 250
Don't forget that the more NXT you own the more block you forge.  You can selectively include transactions in the blocks you forge.
member
Activity: 70
Merit: 10
The value of NXT *can never be very high* as it is basically just *fuel* to run the engine. There seem to be a lot of people in this forum who just "don't get this" (perhaps because "greed" is blinding them to reality).

I'm just going to let this reverberate here for a while. I don't even know what to say to this...yet

Good - let it "sink in" and hopefully a few others will too.


If you have powers to predict markets so well you could make a lot of money on Wall St. Crypto-currency is kind of a new thing by the way and everything about it is unprecedented. The halls of history are lined with the skins of those who thought they could predict the market and I think it's a bit presumptuous of you to say you can predict with certainty what Nxt will be worth.  Market forces are unpredictable, based on emotions, crowd mentality and many other factors including economic, financial and political. If math and market caps could predict everything about markets there's be no Stock market.  

NXt just like XRP is the only trust-less currency that exists in the system, therefore there is a potential for value, depending on the value of the entire ecosystem. All other assets issued are worth only what you can trust the issuer for.

I think I'm starting to see the deep distaste that some in the Nxt development community have for speculators: ie: NXt investors. I find it very concerning and I'm hoping others might pipe in here.






legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
Ok. Then explain the incentive to be a POS stakeholder if you can't earn fees and your Nxt is basically worthless? And please answer something besides "you can sell a product as an asset."

There *will always be fees* even if they have to be reduced quite a lot down the track.

How will POS fee rewards compare to say a "bank account" - not sure although already a large % of people get 0% return from their bank accounts so there is still at least some attraction to "having stake" and leasing out your "forging rights".

Always - to earn money you would be best to work hard and/or invest wisely.

Consider perhaps "buying Asset shares" if you see a promising listing (but don't invest in an Asset called CIYAM unless you can verify that it is owned by an AT).
full member
Activity: 126
Merit: 100
If it wasnt for ur investments / stakes, u would have given up on Nxt already.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
The %  doesn't make sense. I hope to see the fees reduced to 0.1 Nxt soon.   I don't "forge" because of "fees". I do it voluntarily to support the network. It costs me absolutely nothing to do so. This applies to vast number (if not all) forgers.  We only need fees to prevent spam, and as of now 0.1 should be enough.

Indeed the incentive for forging is not so financial - at best down the track I think that forging rewards might cover the cost of running a server (if that and that's assuming a reasonable stake).

The reason for running a node (or super node) is going to have a lot more to do with the "ecosystem" (due to owning an Asset or a Digital Goods Store or something else that sits on the Nxt *platform*).
legendary
Activity: 2156
Merit: 1070
Your confusion stems from a comment from someone who thinks too much like a programmer and not at all like a real world business person. I would mainly ignore it, although, I realize I haven't taken my own advice.

You should take your own advice - I have owned and worked in businesses for over 20 years so I think I am a "real world business person".


Ok. Then explain the incentive to be a POS stakeholder if you can't earn fees and your Nxt is basically worthless? And please answer something besides "you can sell a product as an asset."
hero member
Activity: 644
Merit: 500
If POS isn't profitable and owning Nxt is not profitable and only owning assets are profitable, no one will be around to develop the asset owning system into the future.

The future is not something we can easily predict - but if you have a choice of two platforms:

1. Fee of 1%
2. Fee of 0.01 USD


The %  doesn't make sense. I hope to see the fees reduced to 0.1 Nxt soon.   I don't "forge" because of "fees". I do it voluntarily to support the network. It costs me absolutely nothing to do so. This applies to vast number (if not all) forgers.  We only need fees to prevent spam, and as of now 0.1 should be enough.
legendary
Activity: 2156
Merit: 1070
windjc are u posting BS on purpose or are these posts truly ur standpoint?



My standpoint.  You actually believe NXT can have a market cap of 1 million dollars and exist as a decentralized platform?
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