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Author Topic: Centralized Vs Decentralized Currencies  (Read 5675 times)

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Offline digitalpro

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Centralized Vs Decentralized Currencies
« on: January 23, 2014, 02:03:14 pm »
As of now decentralized currencies are clear winners and accepted by people but in the long run is it possible centralized currencies getting more popular than decentralized ones?
« Last Edit: February 23, 2014, 02:14:19 pm by digitalpro »

Offline Armis

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #1 on: January 23, 2014, 02:56:41 pm »
NoFiatCoin | XNF is a new crypto currency that can be redeemed for actual gold and silver. The new digital currency indeed is a first digital currency backed by bullion.

NOFIATCOIN–XNF has already created a buzz in the digital currency market place and is traded on Ripple network.

XNF looks promising as it is backed by something tangible. Is the trend of crypto currencies changing with some of them coming up with backing of the currency. Are creators of XNF thinking about tapping the market which seek some kind of credibility attached with currencies?

interesting, the Ripple component raises it to intriguing 
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Offline digitalpro

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #2 on: January 24, 2014, 08:37:35 am »
NoFiatCoin | XNF is a new crypto currency that can be redeemed for actual gold and silver. The new digital currency indeed is a first digital currency backed by bullion.

NOFIATCOIN–XNF has already created a buzz in the digital currency market place and is traded on Ripple network.

XNF looks promising as it is backed by something tangible. Is the trend of crypto currencies changing with some of them coming up with backing of the currency. Are creators of XNF thinking about tapping the market which seek some kind of credibility attached with currencies?

interesting, the Ripple component raises it to intriguing

Ripple is best understood as a bridge or universal translator between currencies. It enable a user holding only BTC, LTC, NMC, or even DOGE to make purchases from a vendor accepting only USD, EUR, or GBP. Cross-currency payments is a killer feature. But there are set of people who chose to disagree with it  :)


Offline Armis

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #3 on: January 24, 2014, 05:56:30 pm »
Quote from: digitalpro

Ripple is best understood as a bridge or universal translator between currencies. It enable a user holding only BTC, LTC, NMC, or even DOGE to make purchases from a vendor accepting only USD, EUR, or GBP. Cross-currency payments is a killer feature. But there are set of people who chose to disagree with it  :)



Oh, I could understand why this may be upsetting to many people, not just to the govs, bnks, and other coins, but also those holding Ripple too, the more your product can do the more targets will be on your back and the larger the bull's eye will be.   It isn't simply asking for trouble, it's demanding it on a large scale.

I still think it's great.
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Offline digitalpro

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #4 on: January 26, 2014, 11:08:30 am »
Quote from: digitalpro

Ripple is best understood as a bridge or universal translator between currencies. It enable a user holding only BTC, LTC, NMC, or even DOGE to make purchases from a vendor accepting only USD, EUR, or GBP. Cross-currency payments is a killer feature. But there are set of people who chose to disagree with it  :)



Oh, I could understand why this may be upsetting to many people, not just to the govs, bnks, and other coins, but also those holding Ripple too, the more your product can do the more targets will be on your back and the larger the bull's eye will be.   It isn't simply asking for trouble, it's demanding it on a large scale.

I still think it's great.

Agreed, Ripple is 100 times better than the way bitcoin system function , People say its secure whereas 51% bitcoin holders lose their bitcoins to hackers. Lol, But I know there would be bitcoins enthusiasts who may ignore this and even will target Ripple!!!

Reasons XNF-NoFiatCoin makes itself interesting is that it is backed by bullion which people can redeem it, traded on ripple which is most powerful currency exchange and it is not overpriced.

Offline tadspoles

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #5 on: January 26, 2014, 11:31:24 am »
Ripple is a scam and should be in the Alt Coin section here.  This is nothing but an advertisement for another currency.  If it's not a currency, it shouldn't be listed on coinmarketcap.com. 

Offline Armis

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #6 on: January 27, 2014, 04:06:47 pm »
Ripple is a scam and should be in the Alt Coin section here.  This is nothing but an advertisement for another currency.  If it's not a currency, it shouldn't be listed on coinmarketcap.com.

Whoa, gosh I thought I was getting this crypto stuff, now this hiccup, are you saying "alt coin" and "alt currency" are not the same?

What makes the difference between the various definitions?   I do notice that Ripple isn't mineable (like NXT and MSC according to coinmarketcap.com).

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Offline MicroGuy

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #7 on: January 27, 2014, 04:17:15 pm »
According to this Wiki definition, Ripple is a payment system, currency exchange and remittance network.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

I think the criticism came from the fact that the poster is new here, and, based on his activity does not seem to have any interest in Goldcoin which is the general focus of this website. The post was also originally (and incorrectly) submitted to the news section.
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Offline Armis

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #8 on: January 27, 2014, 04:34:01 pm »
According to this Wiki definition, Ripple is a payment system, currency exchange and remittance network.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

I think the criticism came from the fact that the poster is new here, and, based on his activity does not seem to have any interest in Goldcoin which is the general focus of this website. The post was also originally (and incorrectly) submitted to the news section.

Thanks  for that.   
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Offline digitalpro

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #9 on: January 28, 2014, 01:44:48 pm »
According to this Wiki definition, Ripple is a payment system, currency exchange and remittance network.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

I think the criticism came from the fact that the poster is new here, and, based on his activity does not seem to have any interest in Goldcoin which is the general focus of this website. The post was also originally (and incorrectly) submitted to the news section.

Its correct that I am pretty new here and a new crypto currency enthusiast. Found Goldcoin and forum a great place and wanted to discuss NoFiaCoin as this is perhaps only digital currency in the market which is backed by bullion. I hope I have created this thread in a proper place!

Would like to make an addition about Ripple....

Ripple is a bridge or universal translator between currencies. Ripple enable a user holding only BTC, LTC, NMC, or NoFiatCoin-XNF to make purchases from a vendor accepting only USD, EUR, or GBP. Cross-currency payments is a killer feature.

Due to an inaccurate and outdated attack campaign led by tradefortress, in favor of his vested interests, Ripple is widely misunderstood.
 

Offline Armis

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #10 on: January 28, 2014, 05:04:33 pm »
According to this Wiki definition, Ripple is a payment system, currency exchange and remittance network.

http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

I think the criticism came from the fact that the poster is new here, and, based on his activity does not seem to have any interest in Goldcoin which is the general focus of this website. The post was also originally (and incorrectly) submitted to the news section.

Its correct that I am pretty new here and a new crypto currency enthusiast. Found Goldcoin and forum a great place and wanted to discuss NoFiaCoin as this is perhaps only digital currency in the market which is backed by bullion. I hope I have created this thread in a proper place!

Would like to make an addition about Ripple....

Ripple is a bridge or universal translator between currencies. Ripple enable a user holding only BTC, LTC, NMC, or NoFiatCoin-XNF to make purchases from a vendor accepting only USD, EUR, or GBP. Cross-currency payments is a killer feature.

Due to an inaccurate and outdated attack campaign led by tradefortress, in favor of his vested interests, Ripple is widely misunderstood.


Lucky for everyone, the whole industry is new enough that all of the 'understandings' can be reshaped with little effort.   

Bad news in the crypto biz just bring the value down artificially, just like good news brings it up artificially -- buy on bad news, sell on good news.
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Offline crazypumpkinn

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #11 on: February 06, 2014, 10:54:41 am »
Bad news in the crypto biz just bring the value down artificially, just like good news brings it up artificially -- buy on bad news, sell on good news.

True to say so! Price manipulation is something which I don't know how all decentralized coins will tackle. Bitcoin price came down by about 8% in a single day! such a down fall in does not seem natural and looks like price manipulation by heavy sell. Like you say sell on high buy on low. but who is out there to look after this?

Offline tadspoles

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #12 on: February 06, 2014, 01:00:56 pm »
Bitcoin still has a very small market cap.  When you don't have to convert to dollars anymore the fluctuations will be much, much smaller.  Imagine having a 2 trillion dollar market cap and greater.

Offline crazypumpkinn

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #13 on: February 07, 2014, 08:56:09 am »
Bitcoin still has a very small market cap.  When you don't have to convert to dollars anymore the fluctuations will be much, much smaller.  Imagine having a 2 trillion dollar market cap and greater.

Bitcoin's small market cap is probably because of its future uncertainty. Today again bitcoin prices are down by 13%. This again does not seem natural. Whom to blame and who is out there to look for such unnatural price movement? If the price volatility is natural then is it not for majority of people.

The beauty of a centralized currency system is that someone is out there to manage crisis, take blame and manage everything for all stakeholders.


Offline tadspoles

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Re: XNF-NoFiatCoin- A digital currency backed by bullion
« Reply #14 on: February 07, 2014, 07:19:08 pm »
That's the way it is.  If you don't like the heat....

It will continue to be this way until regulation and "major" news events don't matter anymore.  Guess what though, it will be here tomorrow and the next day and the next 20 years.

My personal guess is by the end of the year, bitcoin will be around 5k a piece.