Topic: [2014-09-18] Bitcoin Core Developer Jeff Garzik Believes NXT is a “Scamcoin” - page 4. (Read 11042 times)

This. PoS doesn't "achieve consensus", simple as that. It's imposed by the devs fixing artificially a certain version of the blockchain as the correct one (these checkpoints). Note that this is a completely different concept than the checkpointing used in bitcoin.

You remove checkpointing from bitcoin, and it will still work.
You remove checkpointing from PoS, and it will be crashed.

You don't seem to understand how mining pools operate. It's possible the 51% was a statistical artifact. You also seem to think that people have expensive capital intentionally sitting idle. That may work for paper investments, but Bitcoiners work for a living. If GHash.io is indeed a super miner, then they deserve the profits they make while the rest of the world drools over their hyperinflating paper notes. Hashrate is growing exponentially. Bitcoin is becoming competitive and you ain't seen nothing yet.

Actually, it's the only one that we've got that works. 

On the contrary, it's hard to convince people that Bitcoin is decentralized now after Ghash owned 51%-53% of its hashrate back in June, and probably continues to own half or more of its hashrate now disguised at other mining addresses, or do you think they switched off part of their equipment and decided they should lose on their investment? Think again.

Your continual use of logical fallacies will ensure that people not smart enough to recognize them will flow towards NxT. Never did I, nor anybody else, say that the only part of NxT that is centralized is the development process. It was simply one example, the only one necessary to complete my argument about how it signals that the entirety of NxT is centralized because of that choke-point, one which does not exist in bitcoin. Whether you like it or not, bitcoin mining is becoming more decentralized as people figure out how to employ P2Pool in their hardware.

NxT supporters can shout insults and question people's age, but they cannot convince any intelligent person that NxT is decentralized. Putting your faith in somebody's claim about their education is yet another logical fallacy. The only FUD that needs to be cleaned up here is coming from your side. Even if I was Satoshi himself, that would not necessarily mean that I know more about bitcoin than somebody else.

I'm glad you are fighting for NxT. People like you are secretly a great ally to bitcoiners.

Sleep is yet another weakness of mere humans. That is why we work together as a collective. We've developed pretty good workarounds for our weaknesses.

ding ding ding... knock out! lol

@above post.. ya that was a scare tactic.. im wrecked so im going to sleep i will resume the FUD war in the morning..

@FUDsters.. il give you time to reload your FUD cannons and patch your wounds.. go and eat, sleep, wank off to granny porn and do what ever else you do to relax and we will continue the battle in the morning.. i expect class A FUD to be plastered all over this thread by the morning.. dont let me down soldiers.. i didnt come here to make daisy chains so come packing or dont come at all

peace <3 xXx

This is a good thing. The centralized nature of NXT will make it a good candidate as local fiat currency or corporate gift certificates.

LOL thanks man. I'm tapping out, you're doing a good enough job without me.

anyone can make a change to the core of nxt and release their version no different to bitcoin. it is down to the users to decide which version they would prefer to use and thus the users come to consensus on which update to use. this is in no ways different to how bitcoin is done.

i can say the same about bitcoin and the oligarch miners. there are only a handful of major miners in control of the bitcoin network - therefore it is centralized.. see how easy that was. your talking shite and you know it.

but we are making progress.. we have whittled it down to "nxt IS decentralized" except for the ONLY part being the "centralized development process".. a few pages back it was centralized for different reasons as far as i can remember and the development process wasnt mentioned. so not only does the fud get crappier, it also contradicts what was said a few pages back. anyway, who "reviews" the code before changes are made to bitcoin? iv certainly never seen a tweet(seeing as jeff is so fond of tweets lately) with a link to code asking if the code is good.. so where does the code get "peer reviewed" and by who?? if it is jeffs buddies behind closed doors then that is still centralized according to your theory. all i ever see is an announcement by jeff when a change has been made. no mention of what WILL be done or who it will be reviewed by.

ok you better keep it coming cos im getting bored now.. i want fresh fud..throw it at me.. comon im ready for ya!

The scientific method is a pretty good system. Google it.

Bitcoin Core gets updated through a process of consensus in which every person in the world has an equal opportunity to take part. NxT does not get updated in a decentralized manner. If a bad actor were to compile Bitcoin Core with malicious code hidden in it, then every person in the world could reject it and the bad actor. This is not possible with NxT, as the development team has the absolute final say with every single update. You just said that is how it works. I can't keep running in circles with you forever.

As for NxT being a scam, they have tricked you into thinking that it is decentralized like bitcoin. That is a lie, and thus you are getting scammed. They will get corrupted due this fault and fail because of it. It also makes no difference if humans are writing the code. Bitcoin is a fully decentralized network of humans writing the code and NxT is not.

all this discussion of nxt is brilliant advertising.. i wonder is this the reason the price is rising.. i hope more of these threads pop up.. jeff.g and all the rest of the fudsters are doing great work. keep it up guys!

By a human being, correct? A human being, susceptible to subconscious bias and error.


Many, if not most, do already.

He's a fudder in the true sense of the term.

Bitcoin core is updated through the scientific method of peer review. Anyone can update their own Bitcoin, but if you want something that is trustworthy, then you trust people that have presented the best work as judged by merit.

It would be good to see many more altcoins using github or some other publishing system in this way.

oh so i can just go and add code to the bitcoin protocol yes? oh no wait... only jeff.g and his buddies can do that... oooohhh bitcoin is centralized maaaan you better sell now.

you would have to be mad to allow anyone to go and add code to the nxt software.. god knows who would come along and stick in malicious code and screw everything up. dont be so stupid.

eemm.. how the hell did you come to the conclusion that PoS = disincentive of use? if anything its the opposite.

also.. you never answered my question.. il quote it again seeing as you have conveniently missed it.

I'm saying they work as well as fiat currencies because they don't solve the problem with fiat currencies.

So basically when bitcoin core gets updated by a human its decentralized but when NXT gets updated by a human its centralized. Makes no sense, yet you keep repeating it as if it did...

Oh, I just figured out what the problem is. You don't know what "centralization" means.

Your own words prove you wrong. Check the bolded text. Whoever gets to decide who is allowed to write code is a centralized checkpoint. That is not decentralized at all, no matter who is writing the code, so long as a centralized entity (aka the NxT development team) has the final say in what does or doesn't get added.

As for the part about decentralizing mining and making it more transparent, the guys in this video (https://www.youtube.com/watch?v=fdSF19foO8E&t=24m36s) don't seem to understand what P2Pool means for bitcoin mining. It decentralizes mining and makes pools obsolete. Fans of PoS completely skip over this solution.

PoS = Disincentive of Use + decentralized mining
PoW + P2Pool = Incentive of Use + decentralized mining

One of those two is far better than the other.