Topic: [ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness! - page 47. (Read 101968 times)
January 21, 2014, 10:38:27 PM
This stinks to high heaven of a scam.
January 21, 2014, 09:46:28 PM
+1...000. Nailed it....now go to bed.
Yes mom ;-)
(I really will)
January 21, 2014, 09:44:34 PM
I wish to point out recent outside activity by the founder of NEX, FrictionlessCoin (FC).
FC accepted 122 Namecoin (NMC) to develop a lightweight Namecoin wallet based upon Multibit and has thus far produced nothing, and reports nothing. I encourage you to read the whole thread, it really is quite humorous.
http://dot-bit.org/forum/viewtopic.php?f=9&t=1450
In summary: FC has an idea, wants donations, accepts donations, complains that donations aren't big enough, pisses off some major NMC developers, threatens to close source his work, then disappears without delivering. And ALL of of it with the serious attitude problem that FC has shown here and across the BTT forums.
Is this really the person you want to trust with your NXT, and to lead a new cryptocurrency?
FC accepted 122 Namecoin (NMC) to develop a lightweight Namecoin wallet based upon Multibit and has thus far produced nothing, and reports nothing. I encourage you to read the whole thread, it really is quite humorous.
http://dot-bit.org/forum/viewtopic.php?f=9&t=1450
In summary: FC has an idea, wants donations, accepts donations, complains that donations aren't big enough, pisses off some major NMC developers, threatens to close source his work, then disappears without delivering. And ALL of of it with the serious attitude problem that FC has shown here and across the BTT forums.
Is this really the person you want to trust with your NXT, and to lead a new cryptocurrency?
LOL...so it's not just us, FC's busy pissing off / ripping off everyone.
This needs to be re-posted lots......
Is 2nd post enough?
January 21, 2014, 09:43:55 PM
+1...000. Nailed it....now go to bed.
January 21, 2014, 09:41:45 PM
Now I recognise FrictionlessCoin!
He's the "Intern from Hell"!
You know, the cocky guy that gets a job at a company and on the first day proceeds to tell everyone, including his bosses, what is wrong with the company and how the hell did they survive without him?
The one that is great at pinpointing other employees with various disgruntlement which he pliea with a sympathetic ear and soothing talk that "yes, if he were in charge things would be different!"
Then, when the situation becomes untenable he gets fired, but it's everyone's fault but his. He's an unrecognised genius after all, if only the dumb Powers that Be would recognise him.
So he needs to go from project to project. Always resentful and always preying on the resentment he sees in others. And never quite delivering what he promises, because he can never respect the fact that recognition needs to earned, not demanded.
I can't believe I missed it.
I know you now, FrictionlessCoin
He's the "Intern from Hell"!
You know, the cocky guy that gets a job at a company and on the first day proceeds to tell everyone, including his bosses, what is wrong with the company and how the hell did they survive without him?
The one that is great at pinpointing other employees with various disgruntlement which he pliea with a sympathetic ear and soothing talk that "yes, if he were in charge things would be different!"
Then, when the situation becomes untenable he gets fired, but it's everyone's fault but his. He's an unrecognised genius after all, if only the dumb Powers that Be would recognise him.
So he needs to go from project to project. Always resentful and always preying on the resentment he sees in others. And never quite delivering what he promises, because he can never respect the fact that recognition needs to earned, not demanded.
I can't believe I missed it.
I know you now, FrictionlessCoin
January 21, 2014, 09:22:16 PM
I wish to point out recent outside activity by the founder of NEX, FrictionlessCoin (FC).
FC accepted 122 Namecoin (NMC) to develop a lightweight Namecoin wallet based upon Multibit and has thus far produced nothing, and reports nothing. I encourage you to read the whole thread, it really is quite humorous.
http://dot-bit.org/forum/viewtopic.php?f=9&t=1450
In summary: FC has an idea, wants donations, accepts donations, complains that donations aren't big enough, pisses off some major NMC developers, threatens to close source his work, then disappears without delivering. And ALL of of it with the serious attitude problem that FC has shown here and across the BTT forums.
Is this really the person you want to trust with your NXT, and to lead a new cryptocurrency?
FC accepted 122 Namecoin (NMC) to develop a lightweight Namecoin wallet based upon Multibit and has thus far produced nothing, and reports nothing. I encourage you to read the whole thread, it really is quite humorous.
http://dot-bit.org/forum/viewtopic.php?f=9&t=1450
In summary: FC has an idea, wants donations, accepts donations, complains that donations aren't big enough, pisses off some major NMC developers, threatens to close source his work, then disappears without delivering. And ALL of of it with the serious attitude problem that FC has shown here and across the BTT forums.
Is this really the person you want to trust with your NXT, and to lead a new cryptocurrency?
LOL...so it's not just us, FC's busy pissing off / ripping off everyone.
This needs to be re-posted lots......
January 21, 2014, 09:16:18 PM
So what do you guys think about NEM then? Any different?
NEM won't be able to go ahead without full source, will it?
I trust utopianfuture, though.
Nope, nothing will happen until April, I suggested he build on top of the Nxt blockchain, would be way more successful. We are going to have many clones of Nxt, and the successful ones will be on top of Nxt blockchain and able to utilize features.
Just looked at the NEM thread, and it has taken off more than I thought!
As I say, I trust utopian, and will follow that thread.
Much agree ....+1 all round.
Interested... a little disappointed so far in the progress of nxt's decentralized exchange claim
Correct me if i'm wrong, but the Asset Exchange is being tested right now, and should be live inside a week or 2.Then, as an example, the China market can use AE to trade NXT (and other alt-currencies....) on a true peer-2-peer basis from within China no matter what the government does to exchanges.......can u see why the price is rising?
January 21, 2014, 09:13:26 PM
January 21, 2014, 09:04:35 PM
Is Nxt open or closed source?
Decompilation does take time and required several kinds of decompiler and manual editing to perform.
The source code is all made available for anyone who wants to make a copy. Or anyone who wants to permanently destroy Nxt. IMHO, security by obfuscation is really not a sound approach.
Decompilation does take time and required several kinds of decompiler and manual editing to perform.
The source code is all made available for anyone who wants to make a copy. Or anyone who wants to permanently destroy Nxt. IMHO, security by obfuscation is really not a sound approach.
I simply ask is that you update the first post to reflect the current project status. It's the first thing people will read when they come to this thread so it should be accurate and up-to-date:
- Asking people to test the alpha code (i.e. decompiled NXT code on the NXT network) is arguably not a good use of their time, as NEX is to be built on completely fresh codebase
- NEX is not based on NXT codebase, so the request to the NXT team is no longer relevant
It's your thread and your post so obviously your call; but as you're a busy man I felt obligated to point out some remaining inaccuracies.
+1
January 21, 2014, 08:42:29 PM
Is Nxt open or closed source?
Decompilation does take time and required several kinds of decompiler and manual editing to perform.
The source code is all made available for anyone who wants to make a copy. Or anyone who wants to permanently destroy Nxt. IMHO, security by obfuscation is really not a sound approach.
Decompilation does take time and required several kinds of decompiler and manual editing to perform.
The source code is all made available for anyone who wants to make a copy. Or anyone who wants to permanently destroy Nxt. IMHO, security by obfuscation is really not a sound approach.
I simply ask is that you update the first post to reflect the current project status. It's the first thing people will read when they come to this thread so it should be accurate and up-to-date:
- Asking people to test the alpha code (i.e. decompiled NXT code on the NXT network) is arguably not a good use of their time, as NEX is to be built on completely fresh codebase
- NEX is not based on NXT codebase, so the request to the NXT team is no longer relevant
It's your thread and your post so obviously your call; but as you're a busy man I felt obligated to point out some remaining inaccuracies.
January 21, 2014, 08:30:33 PM
But still, your first post still states:
You can find the ALPHA TEST CLIENT here:
https://sourceforge.net/projects/nexcoin/files/Nxt/
It should work like the regular Nxt client.
https://sourceforge.net/projects/nexcoin/files/Nxt/
It should work like the regular Nxt client.
You should presumably remove this alpha test client if your release client will be built from scratch? No point talking about a Nxt clone anymore.
Lastly, why do you still have a petition open to demand the release of the Nxt source code, if:
1. You have successfully decompiled the code (despite incorrect claims of heavy obfuscation) and produced a clone that compiles and runs successfully on the NXT network
2. You are starting NEX development from scratch
You should therefore remove this section as it's not applicable to NEX:
Sign the petition to demand Nxt release source code so we can begin our journey: https://bitcointalk.org/index.php?topic=422590.msg4598983
Is Nxt open or closed source?
Decompilation does take time and required several kinds of decompiler and manual editing to perform.
The source code is all made available for anyone who wants to make a copy. Or anyone who wants to permanently destroy Nxt. IMHO, security by obfuscation is really not a sound approach.
January 21, 2014, 08:23:33 PM
BTW, we demand to see your source code!
January 21, 2014, 08:18:13 PM
5% to NXT investors is actually fair , cos they are the ones who supported the NXT protocol so far and consequently NEX.
there would be no NEX without the current NXT investors.
5% is actually a very small portion of the pie in proportion to their contribution.
would be interesting to know what the specifics % numbers are for the total pie.
what % to people who say "interested" (btw interested!)
what % to dev
what % for bounties
this is what's missing in this thread.
I think a fair distribution would look something like this
70% equally distributed among the "interested"
10% developers (which are currently already receiving btcs)
10% for bounties
5% to the NXT investors
5% to be defined
also another thing which makes no sense.....how you gonna distribute manually to potentially thousands if not millions of interested ppl?
the obvious best way would be a well organized faucet to spread the NEX with captcha, ip recording and retweet activation (the retweet obviously also goof for spreading teh word).
also you may wanna refer to NEX as a fairness coin project......open a forum and maybe poll for name/logo/distribution model etc. and discuss ideas. there is no fairness without democracy.
there would be no NEX without the current NXT investors.
5% is actually a very small portion of the pie in proportion to their contribution.
would be interesting to know what the specifics % numbers are for the total pie.
what % to people who say "interested" (btw interested!)
what % to dev
what % for bounties
this is what's missing in this thread.
I think a fair distribution would look something like this
70% equally distributed among the "interested"
10% developers (which are currently already receiving btcs)
10% for bounties
5% to the NXT investors
5% to be defined
also another thing which makes no sense.....how you gonna distribute manually to potentially thousands if not millions of interested ppl?
the obvious best way would be a well organized faucet to spread the NEX with captcha, ip recording and retweet activation (the retweet obviously also goof for spreading teh word).
also you may wanna refer to NEX as a fairness coin project......open a forum and maybe poll for name/logo/distribution model etc. and discuss ideas. there is no fairness without democracy.
FC, can you answer this question about the distribution?
Haha, yeah right, more like 70% to FC, 30% to who cares.
January 21, 2014, 08:16:41 PM
Interested... a little disappointed so far in the progress of nxt's decentralized exchange claim
Just a little, well that's better than a lot. http://en.wikipedia.org/wiki/Patience
January 21, 2014, 08:12:40 PM
We could have very easily cloned the coin, but after thorough analysis, we believe it not to be worth the trouble. It truly is one of the worse implementations of a crypto-currency I have seen.
We are therefore building from a much better and robust foundation.
I think people would rather see something that is robust and secure than a flimsy product.
We are therefore building from a much better and robust foundation.
I think people would rather see something that is robust and secure than a flimsy product.
It's good that you've removed the sections stating features are complete when they're not.
But still, your first post still states:
You can find the ALPHA TEST CLIENT here:
https://sourceforge.net/projects/nexcoin/files/Nxt/
It should work like the regular Nxt client.
https://sourceforge.net/projects/nexcoin/files/Nxt/
It should work like the regular Nxt client.
You should presumably remove this alpha test client if your release client will be built from scratch? No point talking about a Nxt clone anymore.
Lastly, why do you still have a petition open to demand the release of the Nxt source code, if:
1. You have successfully decompiled the code (despite incorrect claims of heavy obfuscation) and produced a clone that compiles and runs successfully on the NXT network
2. You are starting NEX development from scratch
You should therefore remove this section as it's not applicable to NEX:
Sign the petition to demand Nxt release source code so we can begin our journey: https://bitcointalk.org/index.php?topic=422590.msg4598983
January 21, 2014, 08:10:23 PM
I can't entirely agree that this would be a fair system.
From a laymans points of view one day one group of 1000 people may burn 1 btc each and the next only day a group of 100. If 1000 NEX were released both days, one day they all get 1 NEX the next they get 10 NEX. This hardly seems fair to the first group to reward the second group 10x the amount based on random chance.
What would happen in this scenario is people would watch the burn address to know how much NEX they would get out on any given day. This might make it more profitable to just buy the NEX from someone else if the daily burn was oversaturated (that is, the amount of NEX you could receive from the burn would be less than taking that BTC and exchanging it for NEX directly).
In this case, the price of NEX would be tied to the amount of NEX you could get from the burn on any given day, or vice versa, the amount that people would/could burn would be directly tied to the price (would it be profitable to burn X amount of BTC if I'm going to receive Y NEX?)
It seems like instead of being used for people to adopt NEX, this burn/faucet would be monopolized by bots whose soul purpose was to eek out small profits whenever they could get more NEX by burning during a burn period than by buying on the exchanges.
In fact, no one would burn except within the last minutes/seconds of a burn period so as not to dilute the share of NEX dispensed (why burn when you don't know how many others are going to burn and at what amounts? It might be more profitable to buy off an exchange)
What am I arguing about? I don't know. But someone has to.
From a laymans points of view one day one group of 1000 people may burn 1 btc each and the next only day a group of 100. If 1000 NEX were released both days, one day they all get 1 NEX the next they get 10 NEX. This hardly seems fair to the first group to reward the second group 10x the amount based on random chance.
What would happen in this scenario is people would watch the burn address to know how much NEX they would get out on any given day. This might make it more profitable to just buy the NEX from someone else if the daily burn was oversaturated (that is, the amount of NEX you could receive from the burn would be less than taking that BTC and exchanging it for NEX directly).
In this case, the price of NEX would be tied to the amount of NEX you could get from the burn on any given day, or vice versa, the amount that people would/could burn would be directly tied to the price (would it be profitable to burn X amount of BTC if I'm going to receive Y NEX?)
It seems like instead of being used for people to adopt NEX, this burn/faucet would be monopolized by bots whose soul purpose was to eek out small profits whenever they could get more NEX by burning during a burn period than by buying on the exchanges.
In fact, no one would burn except within the last minutes/seconds of a burn period so as not to dilute the share of NEX dispensed (why burn when you don't know how many others are going to burn and at what amounts? It might be more profitable to buy off an exchange)
What am I arguing about? I don't know. But someone has to.
In all respect, but from what I read it seems you still haven't understood my proposal. You are talking about "last minutes/seconds of a burn period" but what I propose is a sliding window, so there is no end of any burning period!
Furthermore, in your argument you somehow make the assumption that the free market to decide if burning is profitable will not work. If your argument would be valid, then the whole bitcoin mining would make no sense, because free market decides if your energy costs are worth to mine bitcoins. So the decision to mine Bitcoins or not to mine Bitcoins depends obviously on the exchange rates in the following loop:
Code:
BTC(exchanged) <-> USD -> proof-of-work-energy-cost -> BTC(mined)
A miner can calculate his rewards and the free market will decide if it is more profitable to go the route via exchanges or to mine.My proposed system actually completely rebuilds this free market reward system:
Code:
NEX(exchanged) <-> BTC -> proof-of-burn-btc-cost -> NEX(mined)
January 21, 2014, 07:59:58 PM
5% to NXT investors is actually fair , cos they are the ones who supported the NXT protocol so far and consequently NEX.
there would be no NEX without the current NXT investors.
5% is actually a very small portion of the pie in proportion to their contribution.
would be interesting to know what the specifics % numbers are for the total pie.
what % to people who say "interested" (btw interested!)
what % to dev
what % for bounties
this is what's missing in this thread.
I think a fair distribution would look something like this
70% equally distributed among the "interested"
10% developers (which are currently already receiving btcs)
10% for bounties
5% to the NXT investors
5% to be defined
also another thing which makes no sense.....how you gonna distribute manually to potentially thousands if not millions of interested ppl?
the obvious best way would be a well organized faucet to spread the NEX with captcha, ip recording and retweet activation (the retweet obviously also goof for spreading teh word).
also you may wanna refer to NEX as a fairness coin project......open a forum and maybe poll for name/logo/distribution model etc. and discuss ideas. there is no fairness without democracy.
there would be no NEX without the current NXT investors.
5% is actually a very small portion of the pie in proportion to their contribution.
would be interesting to know what the specifics % numbers are for the total pie.
what % to people who say "interested" (btw interested!)
what % to dev
what % for bounties
this is what's missing in this thread.
I think a fair distribution would look something like this
70% equally distributed among the "interested"
10% developers (which are currently already receiving btcs)
10% for bounties
5% to the NXT investors
5% to be defined
also another thing which makes no sense.....how you gonna distribute manually to potentially thousands if not millions of interested ppl?
the obvious best way would be a well organized faucet to spread the NEX with captcha, ip recording and retweet activation (the retweet obviously also goof for spreading teh word).
also you may wanna refer to NEX as a fairness coin project......open a forum and maybe poll for name/logo/distribution model etc. and discuss ideas. there is no fairness without democracy.
FC, can you answer this question about the distribution?
January 21, 2014, 07:50:47 PM
Interested... a little disappointed so far in the progress of nxt's decentralized exchange claim
They have a ton of claims. They even claim to be secure. Doubtful.
January 21, 2014, 07:42:54 PM
Interested... a little disappointed so far in the progress of nxt's decentralized exchange claim
January 21, 2014, 07:39:08 PM
Frictionless - you've already stated that you are starting from scratch:
NEX will be working on an entirely new code base because NXT itself is not worth building a foundation on.
Yes, there is very little in the NXT code base that is worth salvaging.
We could have very easily cloned the coin, but after thorough analysis, we believe it not to be worth the trouble. It truly is one of the worse implementations of a crypto-currency I have seen.
We are therefore building from a much better and robust foundation.
I think people would rather see something that is robust and secure than a flimsy product.
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