We still need exchanges yes, because at this point we are still getting money in to Nxt
Nxt also uses Colored Coins, which is a way of saying you can use Nxt to trade Bitcoins, Litecoins, USD, etc
A colored Nxt can represent a different value as the user sees fit. The network is announced, and the value put in. I imagine there will be a whole exchange for colored coins where you could simply state what you wish to value it as, ie 1Btc, and deposit that amount, then whoever you sent that specific coin to would be able to redeem it for that original value
Mining is a power wasting arms race in Bitcoins, as soon as new miners are released they are obsolete. Nxt is the opposite. Wealth has no value if you don't spend it. If EVERYONE held all their Nxt no one would transfer and no one would make fees.
But what happens if someone just want to hold it for a year and see how much they are worth it by then?
From as I understand it, using colored coins allows the value of the 1Billion cap to be breached. You can convert btc into a colored coin and then transfer it, paying a forging fee worthy of the transaction, so you only need 1nxt to transfer a lot of different amounts, plus you pay forging fees, and the holders earn interest for their supporting the network
as someone else wrote, it costs money to mine Btc, ASICS, power, and this will keep going up,making it a doomed venture, as well as less secure when someone with bad intents takes over 51% of the mining.
Nxt takes Nxt to forge. Which is still cheap. and will not be diluted or caught in an arms race. and will not get less secure.
That 5btc purchase will get you around 400k Nxt now. Thats .04% of all hashing power FOREVER, which will give you 40 blocks a day, which when this thing is really churning could earn 100's of Nxt a day.
For 5btc. Wow.
I dont really get this. What happens if someone super rich spends 900000 BTC on NXT? He would having almost all hashing power himself. Then he decides to hold it and get even more gains?
This is such a headfuck, I dont thing I get it enough to invest on it yet.