Post
Topic
Board Announcements (Altcoins)
Re: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread
by
patmast3r
on 17/03/2014, 07:13:34 UTC
Any reason why NXT is crashing at the moment?

It seems they are doing a self destructing thing. They are creating a coin called nodecoin. People can get nodecoins almost free by running a separate program when they are forging and running nodes. Then they artificially set a price for these worthless nodecoins. It is 1 nodecoin= 0.01 NXT. How they came up this price is a mystery. If this nodecoin is created by some stranger instead of their own hired programmer, it would be no value and no one will buy it. But this is created by a Nxt hired programmer and he will use the community funds to buy these nodecoins. I doubt that any nxters are willing to buy nodecoins out of their own pockets. but this program controls millions of NXT in the funds. Therefore, the nodecoins suddenly become valuable. In the future, nodecoins will also play a role in other transactions. These worthless coins become valuable at the cost of NXT. This nodecoin will dilute NXT. They said that the nodecoins are for rewarding people running nodes and servers. Why don't they reward people with NXT which can build NXT's utility and value, instead they create a worthless coin to compete with NXT and it could become a potential Trojan horse in NXT. All this is so weird and the most weird thing is that most of the community members even believe that the nodecoin is a good thing.

In a word, NXT community  lacks of leadership.

It could also be that Mastercoin has released their decentralized exchange