I'm in, how do i get coins? =)
Say you are interested in this thread. We will allocate coins for free.
Topic: [ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness! - page 53. (Read 102003 times)
January 21, 2014, 07:25:07 AM
Say you are interested in this thread. We will allocate coins for free.
January 21, 2014, 07:15:37 AM
I'm in, how do i get coins? =)
1. buy NXT with bitcoins
2. go to https://bitcointalksearch.org/topic/ann-offer-nxt-to-nex-exchange-one-nxt-to-50-nex-coins-limited-424724 and allocate (sell)
3. receive your NEX for
January 21, 2014, 07:04:04 AM
I'm in, how do i get coins? =)
January 21, 2014, 06:58:42 AM
Very interesting proposal. Do we get our bonus LV1 coins only when we're forging, or does the network give us them even when we're not forging? Or is there no forging going on at all?
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Bank Coin" and "NEX Enterprise Coin" .
With the NEX Bank Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
The new names are nice.
So there's no forging (or equivalent of forging) going on now? Does anyone need to run clients at all to forge, or only when we want to buy or sell NEX?
It is like proof of stake implementations, so your clients need to be online to be able to gain the 5% or the 25%.
Great. Can't wait to see it in action.
January 21, 2014, 06:55:03 AM
Very interesting proposal. Do we get our bonus LV1 coins only when we're forging, or does the network give us them even when we're not forging? Or is there no forging going on at all?
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Bank Coin" and "NEX Enterprise Coin" .
With the NEX Bank Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
The new names are nice.
So there's no forging (or equivalent of forging) going on now? Does anyone need to run clients at all to forge, or only when we want to buy or sell NEX?
It is like proof of stake implementations, so your clients need to be online to be able to gain the 5% or the 25%.
January 21, 2014, 06:49:07 AM
I am interested! Count me in.
January 21, 2014, 06:48:32 AM
Very interesting proposal. Do we get our bonus LV1 coins only when we're forging, or does the network give us them even when we're not forging? Or is there no forging going on at all?
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Bank Coin" and "NEX Enterprise Coin" .
With the NEX Bank Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
The new names are nice.
So there's no forging (or equivalent of forging) going on now? Does anyone need to run clients at all to forge, or only when we want to buy or sell NEX?
January 21, 2014, 06:35:06 AM
PROPOSAL:
Implementation of the following PROOF OF BURN: https://bitcointalk.org/index.php?topic=422309.0;topicseen FOR NEX
In summary, this looks like an excellent idea. Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.
This proof of burn functionality is superior to the 'forging' feature of Nxt.
The LV1 coins will be called "NEX Foundation Coins"
The LV2 coins will be called "NEX Proof of Stake Coins"
Note: Only NEX Foundation Coins are exchangeable as described by the proposal.
We will refine this over time.
Implementation of the following PROOF OF BURN: https://bitcointalk.org/index.php?topic=422309.0;topicseen FOR NEX
Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional LV1 coin per week for every 1,000 LV1 coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 LV1 coins, you will receive roughly 50 LV1 coins, or 5% per annum. Doesn't seem like much? Keep reading.
Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?
Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?
In summary, this looks like an excellent idea. Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.
This proof of burn functionality is superior to the 'forging' feature of Nxt.
The LV1 coins will be called "NEX Foundation Coins"
The LV2 coins will be called "NEX Proof of Stake Coins"
Note: Only NEX Foundation Coins are exchangeable as described by the proposal.
We will refine this over time.
Very interesting proposal. Do we get our bonus LV1 coins only when we're forging, or does the network give us them even when we're not forging? Or is there no forging going on at all?
The best way to think about this is to make the analogy between banks and enterprises.
Actually, I should rename the LV1 and LV2 coin, "NEX Bank Coin" and "NEX Enterprise Coin" .
With the NEX Bank Coin you get 5% interest. You never lose your principal.
With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.
It is actually a quite excellent and simple system.
January 21, 2014, 06:31:04 AM
January 21, 2014, 06:21:38 AM
January 21, 2014, 05:42:27 AM
What price and market cap does everyone think NEX will achieve once things settle down after launch?
Example:
- 20,000 BTC market cap
- 0.00002 BTC/NEX
Should people buy 10,000 NXT now (cost: slightly less than 1 BTC), trade it for 500,000 NEX on IPO/launch (0.05% of total NEX), and then sell for 10 BTC? Is the 10,000 NXT per person a hard limit?
Example:
- 20,000 BTC market cap
- 0.00002 BTC/NEX
Should people buy 10,000 NXT now (cost: slightly less than 1 BTC), trade it for 500,000 NEX on IPO/launch (0.05% of total NEX), and then sell for 10 BTC? Is the 10,000 NXT per person a hard limit?
I recommend reserving first 10,000 NXT, then buying it right before NEX release. I expect that NXT price will crash prior to NEX release.
Yes, 10,000 NXT is a hard limit to prevent NXT founders who paid nothing from being richly rewarded.
Thanks for the confirmation.
At first I thought the NXT/NEX promotion was to recompense those who had mistakenly bought into NXT, but recommending people reserve NXT slots and then buying NXT before NEX launch is a good idea. This could easily double or treble your NEX stake without having to create multiple sock puppet accounts.
January 21, 2014, 05:40:46 AM
interested
of course I will not read all this comments, but this shit sounds great!
of course I will not read all this comments, but this shit sounds great!
January 21, 2014, 05:33:51 AM
January 21, 2014, 05:33:16 AM
January 21, 2014, 05:24:20 AM
January 21, 2014, 05:15:54 AM
January 21, 2014, 05:14:57 AM
Thank god, he's back - already thought he ran with the dev account, before collecting all the NXT he is so desperately waiting to get his hands on - phew
So again please answer the questions
------------------------------------
Hey FrictionlessCoin
A couple of hours ago I bought 1 bitcoin for 960 USD, then traded it for 7800 NXT
(over at bter, don't know if the price was any good, but I would walk miles for your free NEX)
Now my new questions (please answer old ones as well):
- where should I send those NXT to claim some of the 5% NEX reserved for NXT holders?
- How much NEX will I get?
- What will you do with the 1 Mio. NXT you might receive for free, uh, sorry NEX?
And speaking of Bitcoins, any plans on reserving 5% or 10% of NEX for Bitcoin scam victims
(you know guys who sold at 2 dollars a couple of years ago, because noone told them what
they will be worth in the future, those selfish bastards)
PS: I know you are really busy with photoshopping all the NXT graphics and flyers...
Retouching the "XT" to make it look like an "EX" is hell of a job.
But you're a machine we know it, keep up the sisyphus good work and please answer more questions, it is very important for people to understand, how free and fair NEX is!
So again please answer the questions
------------------------------------
Hey FrictionlessCoin
A couple of hours ago I bought 1 bitcoin for 960 USD, then traded it for 7800 NXT
(over at bter, don't know if the price was any good, but I would walk miles for your free NEX)
Now my new questions (please answer old ones as well):
- where should I send those NXT to claim some of the 5% NEX reserved for NXT holders?
- How much NEX will I get?
- What will you do with the 1 Mio. NXT you might receive for free, uh, sorry NEX?
And speaking of Bitcoins, any plans on reserving 5% or 10% of NEX for Bitcoin scam victims
(you know guys who sold at 2 dollars a couple of years ago, because noone told them what
they will be worth in the future, those selfish bastards)
PS: I know you are really busy with photoshopping all the NXT graphics and flyers...
Retouching the "XT" to make it look like an "EX" is hell of a job.
But you're a machine we know it, keep up the sisyphus good work and please answer more questions, it is very important for people to understand, how free and fair NEX is!
January 21, 2014, 05:12:32 AM
January 21, 2014, 05:02:04 AM
The Nxt / NEX price was set deliberately low. This is to ensure that people exchanging Nxt for NEX have a higher probability of preserving their investment. Theoretically, the ratio should be 1:1. In fact, when NEX starts trading on the open market, the ratio may be achievable.
Would you have rather had the ratio at 1 NEX == 1 NXT?
Would you have rather had the ratio at 1 NEX == 1 NXT?
What price and market cap does everyone think NEX will achieve once things settle down after launch?
Example:
- 20,000 BTC market cap
- 0.00002 BTC/NEX
Should people buy 10,000 NXT now (cost: slightly less than 1 BTC), trade it for 500,000 NEX on IPO/launch (0.05% of total NEX), and then sell for 10 BTC? Is the 10,000 NXT per person a hard limit?
I recommend reserving first 10,000 NXT, then buying it right before NEX release. I expect that NXT price will crash prior to NEX release.
Yes, 10,000 NXT is a hard limit to prevent NXT founders who paid nothing from being richly rewarded.
January 21, 2014, 04:59:09 AM
We will also allocate 1% for VISACOIN investors who lost their money. This requires verification only that they sent BTC to the VISACOIN BTC donation address. This is given freely.
I must congratulate FrictionlessCoin on this proposal to use part of the NEX genesis block distribution to compensate the VisaCoin victims!!
I would say that the other side of the 'coin' for GetVisaCoin is sending a message of deterrence to future scammers, so my hunt for VisaCoin will continue.
This proposal does not alter my plan to offer the stolen bitcoins as a bounty (plus my 5 bitcoins) to an honest hacker in China to catch VisaCoin, but maybe I'm out of the NXT cloning business now.
If the VisaCoin victims are compensated elsewhere, then maybe the bounty hunter looking for VisaCoin can have the full 130 bitcoins, plus my 5.
Hopefully other NXT clone developers will consider offering something similar (I'm not going to discourage a bidding war either!).
Thanks again FrictionlessCoin!
Sure, not a problem. Always willing to help people in need.
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