Post
Topic
Board Announcements (Altcoins)
Re: Nxt :: descendant of Bitcoin - Updated Information
by
laowai80
on 30/12/2013, 12:08:13 UTC

If you want the money system to tax savers with inflation or any other means, just use the USD or whatever fiat currency is used in your country, there is no difference then. I think it's against NXT's principles to infringe upon people's freedom to do whatever they want with their NXTs. The only penalty with the purpose to help keep network strong is if they don't forge - temporarily lose forging chances. Any other penalties would be dictatorship.

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

No it's not so different.

Why do you think the money would be sitting there, doing nothing?
As soon as the price goes up, the big stakeholders will be tempted to sell, the more price goes up, the more they are tempted to sell or invest in some enterprise, and so the money is put into circulation naturally.

If you force people to do something with their property, that's dictatorship. This was NOT defined in the NXT's original economic rules, and if you start changing economic rules arbitrarily, people first become confused and then they flock to a more stable system with economic rules set in stone from Day 1.

The only rules that should be allowed to be changed is the rules that define functioning of the network, which is the backbone of NXT, those can be tweaked to counteract different new attacks of the software, etc. But not the economic foundations.