Topic: Anyone buying Nextcoin? - page 2. (Read 2915 times)
This is not an in-depth-analysis of anything.
It's some biased information on NXT by someone who is really pissed that he missed a huge chance.
Hazard (the author) was very early in BCNext's announcement thread - but he hastily shouted SCAM... obviously he was wrong and he knows it...
source: https://bitcointalksearch.org/topic/m.3280347
So if you want to decide whether it's worth to invest in NXT you should definitely check other sources as well.
Yes, but these are 2 different issues.
1) If the software is innovative and has plenty other qualities I do not need to enumerate? The answer is: YES.
2) If an investor buying Nxt is going to benefit from doing so (at current price), and is for him a sound investment with decent risk/reward ratio? It is at least debatable.
For who is going to invest into buying Nxt at an exchange, and for the topic of this thread, ultimately what matters is 2)
Fair enough, but I have to ask; what is a better investment long-term at this point given everything you know about all the various crypto-currencies?
That said, I have some Litecoin and Doge. Also Hobonickels and PhylosopherStone for the PoS minting, after I read tokyoghetto's HBN investment journal where I found some serious, experienced and intellectually honest investment discussion.
Also I hold Darkcoin and HeavyCoin, at least for a month or so, just in case. I held for a while various other coins, even Nxt for a few days.
Now, the approach is a mix of speculation, store of value, PoS mining income and even plan B towards Bitcoin, which is very exposed to attacks, since it's the reference. If a successful attack to BTC makes all other my crypto holdings worthless, that's another discussion.
Buy cheap stack deep. 
Yes, but these are 2 different issues.
1) If the software is innovative and has plenty other qualities I do not need to enumerate? The answer is: YES.
2) If an investor buying Nxt is going to benefit from doing so (at current price), and is for him a sound investment with decent risk/reward ratio? It is at least debatable.
For who is going to invest into buying Nxt at an exchange, and for the topic of this thread, ultimately what matters is 2)
Fair enough, but I have to ask; what is a better investment long-term at this point given everything you know about all the various crypto-currencies?
I've read the link mentioned http://cryptolife.net/in-depth-analysis-nxt/ and I believe the analysis is good enough in the sense of giving precautions to whoever is thinking about "investing" in Nxt, and in counter-arguing against shills. I guess it can't hurt to hold a few Nxt, like it doesn't to hold a few Dogecoins, Hobonickels or Peercoins or whatever you believe has future, but ultimately what you do with your money it's only your business, not mine as a detractor neither is Nxt shills.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump others to pump their coin, they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump others to pump their coin, they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
Right, I read your post about the mining pool and honestly thought, well no argument there and moved on. Everything you said has merit and I'd just be BS'ing if I tried to argue any of it.
For transparency sake though, I've bitched and complained about NXT for a long time. I was nearly banned by one of the mods on nextcoin.org. (Graviton actually had to prevent that, if you went and read my post history (same name on that forum) its just one negative thing after another for weeks/months, all warranted in my opinion).
That said, NXT is still in my opinion the only thing worth investing in long term. There is simply too much work being done on it and it's the only self-supporting alt. If it's not good enough, it can be modified/fixed/upgraded, whatever needs to be done to make it successful. The community over at potcoin is not going to re-code something or make major modifications to their code even if it requires it. I'm not pumping NXT, don't buy it, sell all of it, I don't care. Just recognize that it should be considered basically one of only a few names in the game.
The only way someone can innovate on Bitcoin is to change the fundamentals on which it was developed (most of which I think are excellent). The only way to change the fundamentals by which it was developed is to develop something different.
1) If the software is innovative and has plenty other qualities I do not need to enumerate? The answer is: YES.
2) If an investor buying Nxt is going to benefit from doing so (at current price), and is for him a sound investment with decent risk/reward ratio? It is at least debatable.
For who is going to invest into buying Nxt at an exchange, and for the topic of this thread, ultimately what matters is 2)
I've read the link mentioned http://cryptolife.net/in-depth-analysis-nxt/ and I believe the analysis is good enough in the sense of giving precautions to whoever is thinking about "investing" in Nxt, and in counter-arguing against shills. I guess it can't hurt to hold a few Nxt, like it doesn't to hold a few Dogecoins, Hobonickels or Peercoins or whatever you believe has future, but ultimately what you do with your money it's only your business, not mine as a detractor neither is Nxt shills.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump others to pump their coin, they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump others to pump their coin, they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
Right, I read your post about the mining pool and honestly thought, well no argument there and moved on. Everything you said has merit and I'd just be BS'ing if I tried to argue any of it.
For transparency sake though, I've bitched and complained about NXT for a long time. I was nearly banned by one of the mods on nextcoin.org. (Graviton actually had to prevent that, if you went and read my post history (same name on that forum) its just one negative thing after another for weeks/months, all warranted in my opinion).
That said, NXT is still in my opinion the only thing worth investing in long term. There is simply too much work being done on it and it's the only self-supporting alt. If it's not good enough, it can be modified/fixed/upgraded, whatever needs to be done to make it successful. The community over at potcoin is not going to re-code something or make major modifications to their code even if it requires it. I'm not pumping NXT, don't buy it, sell all of it, I don't care. Just recognize that it should be considered basically one of only a few names in the game.
The only way someone can innovate on Bitcoin is to change the fundamentals on which it was developed (most of which I think are excellent). The only way to change the fundamentals by which it was developed is to develop something different.
The one thing that bothers me, does everyone else realize that everything else is just a copy of the same thing?! (with the exception of the platforms that aren't really cryptos by themselves 'ripple', 'etheryum').
I feel like the news should have been bigger. "Okay so we have Bitcoin, 1000's of other variations made from exactly the same code (new names, fun pictures and forums, stupid spin *it's a global currency for spain*, really?!) and oh shit, something that isn't Bitcoin, a completely original codebase with completely different fundamentals." Now we have freaking clones of clones of NXT but still no other alt built from the ground up original crypto-currencies.
Modifying 15 lines of code isn't innovation, it's just a freaking copy. At this point I'm not sure I'd care if 99% of NXT was owned by one person with the amount of development going into it; I'd probably be begging that one person to let me in just a little.
I feel like the news should have been bigger. "Okay so we have Bitcoin, 1000's of other variations made from exactly the same code (new names, fun pictures and forums, stupid spin *it's a global currency for spain*, really?!) and oh shit, something that isn't Bitcoin, a completely original codebase with completely different fundamentals." Now we have freaking clones of clones of NXT but still no other alt built from the ground up original crypto-currencies.
Modifying 15 lines of code isn't innovation, it's just a freaking copy. At this point I'm not sure I'd care if 99% of NXT was owned by one person with the amount of development going into it; I'd probably be begging that one person to let me in just a little.
Well said.
I think Nxt is a steal compared to most of the other scam coins. They very well could be onto something.. much more so than most other ALT cryptocoins.
I no longer consider Litecoin a good investment (unless my idea for building a Litecoin Protocol is implemented.) There are probably some profits to be had in it in the next couple years due to the network effect, but I prefer to use a more long term strategy.
I'll stick with Nxt/Mastercoin/Counterparty/Bitcoin for now.
Innovation will bring success in the long term- not some fancy marketing scheme.
I've read the link mentioned http://cryptolife.net/in-depth-analysis-nxt/ and I believe the analysis is good enough in the sense of giving precautions to whoever is thinking about "investing" in Nxt, and in counter-arguing against shills. I guess it can't hurt to hold a few Nxt, like it doesn't to hold a few Dogecoins, Hobonickels or Peercoins or whatever you believe has future, but ultimately what you do with your money it's only your business, not mine as a detractor neither is Nxt shills.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. It's not the Nxt alt-coin per se. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs that we see on this forum, and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump/destroy others to pump their coin, this is evidence they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
On a personal note -- if it isn't obvious already -- I'm becoming quite frankly fed up of Nxt promoters, Nxt shills and Nxt community. It's not the Nxt alt-coin per se. All I see are bag holders waiting to lure others into their dump. The situation fits well alongside scams, referral spam, excuses for large premines, IPOs that we see on this forum, and in other context, multilevel marketing or CPA offers. In short, bottom of the barrel self-serving garbage. The scrypt multipool that pays out in Nxt (and the agenda of some supporters with the explicit purpose of dumping others to pump themselves) caught my attention and illustrates at what extent people go. If they feel the need to dump/destroy others to pump their coin, this is evidence they ARE bag holders of a coin that does not have real-life financial or economic value to stand on their own.
The software and the developers indeed have merit, however.
I have been buying what I an steadily since early December. Like you, I am approaching 100K NXT and I think it is possible that may be enough to retire in two or three years. The price is low enough now that nearly anyone can still get in on the ground floor.
http://1.bp.blogspot.com/_yESLMxNxM6Y/TGkv7KIdztI/AAAAAAAABzE/aWIcZ7_Jn-c/s320/android.jpg
If you can retire in two or three years on a $3,000 investment you'll be doing great.
I'm still shocked that people don't see the huge opportunity in Goldcoin (GLD) at the moment trading at a penny. Their new java wallet coming in Spring will make NXT and GLD the only two currencies coded/based in java and this goldcoin has practically no big hands, so no worry about dumpers.
I think your retirement strategy odds would increase significantly with $3K in NXT and $3K in GLD. These two coins are a match made in crypto heaven
The one thing that bothers me, does everyone else realize that everything else is just a copy of the same thing?! (with the exception of the platforms that aren't really cryptos by themselves 'ripple', 'etheryum').
I feel like the news should have been bigger. "Okay so we have Bitcoin, 1000's of other variations made from exactly the same code (new names, fun pictures and forums, stupid spin *it's a global currency for spain*, really?!) and oh shit, something that isn't Bitcoin, a completely original codebase with completely different fundamentals." Now we have freaking clones of clones of NXT but still no other alt built from the ground up original crypto-currencies.
Modifying 15 lines of code isn't innovation, it's just a freaking copy. At this point I'm not sure I'd care if 99% of NXT was owned by one person with the amount of development going into it; I'd probably be begging that one person to let me in just a little.
I feel like the news should have been bigger. "Okay so we have Bitcoin, 1000's of other variations made from exactly the same code (new names, fun pictures and forums, stupid spin *it's a global currency for spain*, really?!) and oh shit, something that isn't Bitcoin, a completely original codebase with completely different fundamentals." Now we have freaking clones of clones of NXT but still no other alt built from the ground up original crypto-currencies.
Modifying 15 lines of code isn't innovation, it's just a freaking copy. At this point I'm not sure I'd care if 99% of NXT was owned by one person with the amount of development going into it; I'd probably be begging that one person to let me in just a little.
Additionally, you don't have to be fazed by the IPO. I obviously came in really late and started with 3,333 NXT. I've followed all the releases like a hawk and kept buying and selling (when people went a little too crazy) until I got to 30,000. I put little amounts of cash into whenever it gets down, sold a password recovery app getting to 44,000.
Now I'm nearing at 100,000 NXT. (as I said just bought in yesterday) It's still early enough that you can recognize it for what it is and own a pretty good percentage of the whole thing even though you missed the IPO. (Especially you miners now that they have the NXT pool!)
These trivial ups and downs of the market are going to look like a blip of nothing in the future, eclipsed by the world eventually catching up to where it should be. (like when Bitcoiners fretted about the swings between $1 and $3 dollars) You'll be looking at a graph a year from now trying to figure out what the price even was. *was it 3 cents?! Yes, it was f@#$@n 3 cents!* Wish I hadn't bitched so much about that IPO and just got in then.
Now I'm nearing at 100,000 NXT. (as I said just bought in yesterday) It's still early enough that you can recognize it for what it is and own a pretty good percentage of the whole thing even though you missed the IPO. (Especially you miners now that they have the NXT pool!)
These trivial ups and downs of the market are going to look like a blip of nothing in the future, eclipsed by the world eventually catching up to where it should be. (like when Bitcoiners fretted about the swings between $1 and $3 dollars) You'll be looking at a graph a year from now trying to figure out what the price even was. *was it 3 cents?! Yes, it was f@#$@n 3 cents!* Wish I hadn't bitched so much about that IPO and just got in then.
I have been buying what I an steadily since early December. Like you, I am approaching 100K NXT and I think it is possible that may be enough to retire in two or three years. The price is low enough now that nearly anyone can still get in on the ground floor.
Additionally, you don't have to be fazed by the IPO. I obviously came in really late and started with 3,333 NXT. I've followed all the releases like a hawk and kept buying and selling (when people went a little too crazy) until I got to 30,000. I put little amounts of cash into whenever it gets down, sold a password recovery app getting to 44,000.
Now I'm nearing at 100,000 NXT. (as I said just bought in yesterday) It's still early enough that you can recognize it for what it is and own a pretty good percentage of the whole thing even though you missed the IPO. (Especially you miners now that they have the NXT pool!)
These trivial ups and downs of the market are going to look like a blip of nothing in the future, eclipsed by the world eventually catching up to where it should be. (like when Bitcoiners fretted about the swings between $1 and $3 dollars) You'll be looking at a graph a year from now trying to figure out what the price even was. *was it 3 cents?! Yes, it was f@#$@n 3 cents!* Wish I hadn't bitched so much about that IPO and just got in then.
Now I'm nearing at 100,000 NXT. (as I said just bought in yesterday) It's still early enough that you can recognize it for what it is and own a pretty good percentage of the whole thing even though you missed the IPO. (Especially you miners now that they have the NXT pool!)
These trivial ups and downs of the market are going to look like a blip of nothing in the future, eclipsed by the world eventually catching up to where it should be. (like when Bitcoiners fretted about the swings between $1 and $3 dollars) You'll be looking at a graph a year from now trying to figure out what the price even was. *was it 3 cents?! Yes, it was f@#$@n 3 cents!* Wish I hadn't bitched so much about that IPO and just got in then.
Buy cheap , Hold . 
^Doesn't seem like a very in depth analysis. The initial distribution did suck but people are continuing to invest because of the huge investment by the developers. At this point NXT is less like a crypto and more like a company that had fairly small IPO. It's one of a few cryptos though that actually has huge ongoing development being done.
There are some huge wallets for NXT and there are a handful of people that could tank it, that's all true. The majority of these people realize though all the work that is being done and recognize the huge potential it all has.
I just bought into NXT yesterday pretty substantially. I'm aware of all the facts behind it but I just can't get past the fact that everything else is just a clone of bitcoin with no real future development work being done. If NXT has problems time will solve them, too many people are working on it to fail.
IF it does fail at this point, at least I threw my cards in on something that was a complete original work with a completely innovative set of ideas. I have no interest in the future of any other alt coins. I simply can't understand how they can even have a future outside of some minor niche markets. (like doge for tipping).
If instead of marketcap you could see 'developmental effort' next to each alt, there would an army of work that has been done for only a couple coins, Bitcoin and NXT.
There are some huge wallets for NXT and there are a handful of people that could tank it, that's all true. The majority of these people realize though all the work that is being done and recognize the huge potential it all has.
I just bought into NXT yesterday pretty substantially. I'm aware of all the facts behind it but I just can't get past the fact that everything else is just a clone of bitcoin with no real future development work being done. If NXT has problems time will solve them, too many people are working on it to fail.
IF it does fail at this point, at least I threw my cards in on something that was a complete original work with a completely innovative set of ideas. I have no interest in the future of any other alt coins. I simply can't understand how they can even have a future outside of some minor niche markets. (like doge for tipping).
If instead of marketcap you could see 'developmental effort' next to each alt, there would an army of work that has been done for only a couple coins, Bitcoin and NXT.
Is there any specific value to this coin? Could be a good buying opportunity now being down to 0.000055. Bid/ask spread looks quite big though.
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