An example of what happens with permissioned ledger, closed entropy systems in the market. This NEM coin (standard PoS with some rube goldberg mechanisms on top of it) was pumped to a huge market cap. Just like what happened with NXT, it now just kind of sits there with nobody really wanting to do anything with it. This is crazy low volume compared to the 400-500 volume most altcoins have on the Bologniex casino nowadays:
These closed entropy systems where the entire coin supply was issued at genesis had their brief time in the sun because people were fascinated by the idea of not having their shares temporarily diluted through mining, but now there are so many of them, the novelty is gone and people are forced to re-examine what actually constitutes a decentralized currency in the first place. It will be just like NXT. The market cap will remain high, but the buy side will constantly wither away until the sum of the buy side is only 15 BTC (like NXT was a few months ago). This makes them "roach motels" where you're theoretically wealthy, but nobody can actually exit the coin at all.
These closed entropy systems where the entire coin supply was issued at genesis had their brief time in the sun because people were fascinated by the idea of not having their shares temporarily diluted through mining, but now there are so many of them, the novelty is gone and people are forced to re-examine what actually constitutes a decentralized currency in the first place. It will be just like NXT. The market cap will remain high, but the buy side will constantly wither away until the sum of the buy side is only 15 BTC (like NXT was a few months ago). This makes them "roach motels" where you're theoretically wealthy, but nobody can actually exit the coin at all.