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Nxt General Discussion / Re: Unfair distribution
« on: September 16, 2014, 07:35:55 am »How would the currency be distributed? Would it be given to people? Would they have to buy it? If the latter, why would people want it?
U have to buy it with NXT.
? wouldn't this make the top 73 people have the most access to it still?
I guess they would have to buy it though.
exactly. since the top 73 guys hold most of the Nxt, they still have control.
and who or where do we buy the currency from?
Once the "credit system" is released, you could create a LETSystem with a very limited amount of NXT. You would only need the 1000 NXT MS currency issue fee and your users would have to own NXT for transactions.
You would issue a currency on the MS that had a balance of 0 currency units. Users would establish trust lines with the MS currency issuer and vice versa. No users would have to actually purchase the currency with NXT. Since it is a "Local Exchange Trading System" (aka LETSystem), users of the currency would do work or sell goods to each other to earn the currency. Users could accumulate a positive (others owe them) and negative (they owe others) balances up to their credit limit.
got it, thanks. i guess the social credit system will work more with nxt than ripple. check this project out, been following this when i was still active in the ripple community: http://weboftrust.net
daniel levy, the creator is a known villagers.cc user and is vouched by ryan fugger. i could contact daniel again to take a look at Nxt's MS when it goes online. i know he's dying to get out of ripple last i pm'd him.