Pls someone answer. If in some time,we had lots of nodes supporting the network,could we just get rid of nodecoins??Or would they be part of Nxt in their most basic structure???
Once issued, nodecoins will exist for 27 years as they are given out 100 per block.
nodecoins are NOT part of NXT core. It is not part of NXT basic structure.
It is simply an asset I created using NXT core.
anybody can do this
Clearly NXT is a very disruptive tech. It can disrupt itself!
There are literally more than 47 to the 10th power of potential assets that can be created. That a lot of assets. nodecoin is just one asset.
Still think nodecoin does not add value to NXT? Just the discussion it has created has now gotten a bunch of people thinking about how they can create their own coin and issue it on AE. Dont deny it, I know you are. I charge 2% of coins as they are mined, if you need my help.
James
Jesus. We will have our own little coin market cap war inside NXT. It's a recursive fight to the death. I thought AE would just be a way to trade coins peer-to-peer and avoid transaction fees altogether. As soon as you devalue NXT to be the transaction fee token instead of a 1st gen coin, it is automatically devalued to be less than the coins being traded on it. This coin will self-destruct in five seconds...
Your basis for this conclusion is?
i claim the NXT market cap will correlate with the SUM of the value of all the assets in AE. I provide as evidence, XRP market cap, which has done exactly that. At least as a rough approx, as big surge in December corresponded to big influx in CNY and subsequent decay in gradual exodus of assets out of ripple network.
Like it or not, AE makes NXT a similar animal as XRP. I have first hand experience with ripple and how it has fluctuated. I used to be an active market maker there, until the total fiat inside ripple drained away. I am not an economist, but when I see 70% of assets disappear and market value drops by 70%, well I was able to put two and two together.
What is your evidence of NXT destruction?
How exactly did you envision creating an economy using NXT by by building on top of NXT?
What is an economy? Isnt it people trading stuff with each other? Having a coinmarketcap war inside of NXT will bring a lot of activity and new blood into NXT. It will spawn the need for charting services, automated bot services, market makers, etc. Not exactly the joe-sixpack demographic, but in crypto land we know this is the group that provides liquidity.
I believe that I understand a lot of nuances about all this. If you have any evidence to support your theory that having active trading market of assets is totally destructive to NXT, please post. Otherwise you are just yelling "fire" in a movie theater, when there is no fire.
James
James,
I'm glad to hear you have some experience with Ripple. I've been more and more thinking that NXT is shaping up to be nothing more than a Ripple copy-cat and one that is not as good at that and I'd love to hear why you think this is not so.
Ripple already is way faster, Has Decentralized Exchange w/ cross currency trading (Can buy NXT from Peercover with Bitstamp BTC or even Bitstamp USD), the XRP fees for trading are infinitesimal and only for spam protection. You can covert USD to XRP directly via SnapSwap (albeit w/ too high fees). You can even "mine"/acquire them with a far greater return through the BOINC WCG, which is a very noble cause.
NXT is slower, all the assets can only be purchased in NXT, there are NXT fees for doing anything, there is a NXT fee for PLACING a buy or sell order (which no other exchange does) , no one knows if enough people will run nodes, and it's been sounding like the system may end up needing centralized high performing servers to be able to boost the transaction speed to anywhere near what Ripple already has.
I'm really interested in hearing your thoughts on why you think NXT is better than Riipple and why the liquidity will be better or the spreads closer, why more companies and assets will be attracted to it, why REAL businesses and banks will buy into it & why it will be any more successful.
