Observation regarding Mining/Refining.
Is it true to say that Nxt user's who only invest in a few hundred or even a few thousand or even a few hundred thousand Nxt have little to no chance of Mining/Refining any Nxt? Now or in the future?
The reason for my observation and question is not to moan but to get a realistic view on what is the incentive for new users to buy Nxt. I have a few hundred thousand Nxt and have not made any addition Nxt via Mining/Refining, but have kept the client running 24/7
When Nxt starts to take off and the price of Nxt rises, I doubt the average user will be able to buy 100,000's of Nxt. I also assume that most users that buy into Nxt would assume they will be able to earn interest via Mining/Refining? which is the reward for running the java client?
Is this how Nxt will always be? or will the balance of Mining/Refining power change over time?
Just thoughts...
https://bt.irlbtc.com/view/350020.0Old post, with info that is outdated, but still the same concept. Though, I expect in the future the average base target value will be much lower, so lower profits.
We can draw a parallel with ASICs, as my GPU cannot even compete on the bitcoin network, so I don't buy mining rigs, I just buy bitcoin. So the same may be in the future of NXT, where only the early adopters really can mine decent amounts. Thankfully, we can avoid an arms race like we've seen in PoW coins. Once you own NXT coins, it's yours - there's no need to continuously buy more mining power.