How it will work is:
Frictionless will continue to brag about how NEX is better than NXT, even though he can only copy it. He claims he is adding new features, but in reality the NXT team is doing all the things he claims he is doing. As soon as the NXT team makes a release, frictionless will claim he did it.
As to what people will get, only time will tell. The distribution method keeps changing and it seems that frictionless has 100% control over all aspects of NEX distribution. Will it really be fair? What can anybody do if it isn't? If frictionless is actually writing code and adding features, it would be a different story, but his idea of writing code is decompiling NXT code. also, since NXT source is supposed to be so bad according to him, why on earth is he using any NXT source code at all. Shouldn't he simply write an entirely new version from scratch?
Why did he steal all of NXT marketing materials, just changed "NXT" to "NEX", sometimes he didn't even both to do this. Why would someone spend so much time if he isn't planning on making a profit somehow. Where do you think that profit will come from?
Some cloned version of NXT that is exactly the same tech as NXT without anything new except a genesis block. Just don't send any BTC or NXT to him, and certainly don't burn any. All you will get back is worthless NEX. Without a community, trading market, etc. NEX will have no real world value.
NXT already has half a dozen exchanges, fiat gateways, over ten thousand stakeholders, and on and on. New releases come out weekly, sometimes more often.
His claim that 50 NEX for one NXT is generous is absurd. That is 0.02 ratio, basically he is saying that NEX already has the peak LTC/BTC ratio LTC ever got, when NEX is so far totally vapor and a 100% clone of NXT. When LTC got the 0.02 ratio ($50 LTC), it was already on major exchanges, accepted in many websites, etc. It also actually had a speed improvement over BTC.
At best NEX is a joke, at worst it will be a scam that leaves anybody that puts anything into it without anything.
If you want one billion coins without any market, you can do that yourself without NEX. Just issue it using NXT asset exchange.
James
+1
Maybe we should float nex over the NXT asset exchange, and allow all of the "interested" dudes here first bite at them ?
And maybe someone here should ask some questions about the iXcoin premine ? Eh, eh, fair distribution, eh?
I actually like iXcoin, can I have some of your premine, please, FC?
