Re: Why is NXT not the number 2 coin?

Being considered in the ESMA report does not seem very bad:

http://www.esma.europa.eu/content/Investment-using-virtual-currency-or-distributed-ledger-technology

Ya man, they took a good look at the CoinMarketCap Asset List.

http://coinmarketcap.com/assets/

Let's see:

NXT................... 37 assets all types/sizes, 60 sec blocks, liquid exchange, rock solid platform (I've done > 200 trades with zero issues)
Counterparty....... 7 assets, but near zero liquidity, 10-20 minute block times, down a lot just when you need it
Bitshares............ 5 hedging assets, Wall Street ETFs and options will make these primitive tools irrelevant
Mastercoin......... 2 assets, but it's really all the controversial MAID vapor-PO
Nubits............... who knew Jordan and his friends would sell a virtual Fed to the rubes?

Bitshares has 10sec block times with dpos and bitusd etc nxt doesnt have pegged assets only user issued assets.. Big lead for bitshares over nxt.. Nxt has better ui web wallet thats about it. Bitusd means you can essentially trade usd on blockchain.

They're derivatives contracts! Stop lying to people! Your "bitUSD" isn't actual USD.

Its not my bitusd. There are gateways which accept bitusd and give usd.. the value of
bitusd is pegged to usd and has been for 6 months. Thus I said essentially please reread and give more thought before responding.

This is a big advantage of bitshares over nxt.

The fact is that even with "gateways" bitUSD is fractionally reserved because the "gateways" in Bitshares aren't 100% reserved like in Ripple. In Ripple, every IOU issued by a gateway is backed by the tangible asset (supposedly, if you trust the gateway operator). In Bitshares, the "gateways" are simply a businesses taking a cut of processing transactions in and out of the Bitshares ecosystem. Because Bitshares' "gateways" do not hold 100% reserves of the bitUSD, bitGold, bitSilver, etc to back the issued derivatives contracts which Bitshares, imo, disingenuously refers to as "assets", Bitshares cannot claim bitUSD is pegged to USD. It's not pegged because if you can't fully convert all of the "digital assets" (Bitshares' derivatives contracts) to the physical asset there cannot be true parity. What you have in Bitshares is a prediction market for derivatives contracts being sold to people under the auspices of it being equivalent to physical assets stored in a Swiss bank account. This imo is not ethical and will lead to a lot of people who don't truly understand what they are purchasing being hurt.