Re: Was NXT the first IPO coin? + Interesting prediction of NXT from February 2013
A POS Block-Chain System shouldn't be calling itself a 'COIN'. They're DACs.
If I may, I think this is the misconception.. And why some people get so upset and irritated by these 'COIN' launches.. (Steady..).
The 'UNIT' running on the POS chain is exactly what the chain says it is,.. a STAKE in the system.
POS Systems should rely on making money through the services they provide. NXT's asset exchange, or BitShares in general both provide a utility to their POS network. And that IS worth something.
NXT's IPO was exactly that. A sale of shares in a fledgling DAC. I don't think of NXT as coins. They're shares.
I had not seen anything like that before. But there hadn't been any pure POS coins until then. Definitely a first for me on both counts.
Congratulations most certainly in order..
If I may, I think this is the misconception.. And why some people get so upset and irritated by these 'COIN' launches.. (Steady..).
The 'UNIT' running on the POS chain is exactly what the chain says it is,.. a STAKE in the system.
POS Systems should rely on making money through the services they provide. NXT's asset exchange, or BitShares in general both provide a utility to their POS network. And that IS worth something.
NXT's IPO was exactly that. A sale of shares in a fledgling DAC. I don't think of NXT as coins. They're shares.
I had not seen anything like that before. But there hadn't been any pure POS coins until then. Definitely a first for me on both counts.
Congratulations most certainly in order..
This is the "Promote the currency or promote the platform" debate
I say both but long term value will come from the platform, as you say, in the AE and other things that are built on top.Sounds very BitShares-ish.
From the NXT wiki:
Quote
Regarding NXT as coins: NXTs are not coins... or at least the creator of Nxt didn't want them to be seen as coins. They are tokens that grant privileges for supporting Nxt.
Deflation is not much better than inflation. "Real" coins should be created on top of Nxt, and be issued in quantities that keep their value constant. BCNext understands that this is very arguable. The community should decide if it wants to follow the path showed by him, or stick to the Bitcoin legacy of an unchangeable supply of coins with which people hope to become rich by doing nothing.
Deflation is not much better than inflation. "Real" coins should be created on top of Nxt, and be issued in quantities that keep their value constant. BCNext understands that this is very arguable. The community should decide if it wants to follow the path showed by him, or stick to the Bitcoin legacy of an unchangeable supply of coins with which people hope to become rich by doing nothing.
I guess what BCNext means here is that the value of a single NXT should reflect the value of the economy/network and the "coins" that we use in the traditional sense should be built on top using the monetary system.