Post
Topic
Board Altcoin Discussion
Re: Can NXT be a real Crowdfunding Platform?
by
identtitentti
on 01/10/2014, 03:43:23 UTC
Slightly OT, but my main gripe with NXT is the high transaction fee (1 NXT).


The current price of 1 NXT is $0.0283, so one transaction would cost $0.0283. The current price of BTC is $388.90, a transaction fee of 0.0001 BTC would cost $0.03889.

I really like NXT, but i also agree that the fee is too high. comparing to bitcoin is a bad idea. nxt is supposed to be a 2.0 currency, so obviously it should have more attractive features than bitcoin.

Transaction fee should be related to the total amount of coins in sensible manner, agree that dollar nominated comparisons are not meaningful, as are not PoW mining fees and PoS transaction fees . And in PoS like NXT, there will be whales in the beginning to whom the transaction fee does not mean anything, and interested new comers who get 2 nxt from the only functioning faucet, use 1 nxt to send 1 nxt to some address to get a public key to be able to start forging, and then happily forge with account balance of 0 NXT. Not most inviting newcomer experience, I can tell you Wink.

PS: FIMK has same total as NXT, but our transaction fee is 0,1. On the other hand, for some reason FIMK asset creation costs 1000 FIMK which is preventive for newcomers, and apparently we can't change that before before we make a major client update (totally new client with programmable plug-in interphase, which btw will make NXT jealous Wink).