Quote from: 2Kool4Skewl on December 19, 2013, 09:05:42 AM

Quote from: landomata on December 19, 2013, 08:49:48 AM

Quote from: Come-from-Beyond on December 19, 2013, 08:41:06 AM

Quote from: landomata on December 19, 2013, 08:37:07 AM

The system has to safeguard customers fiats ....that control should not be in the hands of individual node operator/owners....a person can have a good reputation and still run away with a large amount of fiat at the right time.

lets remove this possibility entirely.

...by eradicating all the fiat.

So how will people be able to trade on the Nxt Asset Exchange if they don;t have Nxt.....and to obtain Nxt they would need to buy them with fiat thru the Nxt Asset Exchange itself....so there will be a point where Fiat/Nxt will have to be exchanged at particular points in the system.

or I think you mean that Nxt will be the only medium used on the Nxt Asset Exchange...NO FIAT pricing anywhere in the system.

you can enter the Nxt AEX and buy a house, car, alias or gold...whatever and pay in Nxt via this 24/7 Global decentralized marketplace.

You can always trade Nxt for goods and services without converting to fiat or other cryptocurrencies. Nxt's decentralized marketplace/auction will help facilitate this exchange. There will also be gateways operated by individuals that issue fiat or cryptocurrency IOUs and these can be traded in a decentralized manner.

isn;'t Fiat just an IOU Grin