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Topic: Erik Voorhees favors NXT - page 7. (Read 10027 times)

sr. member
Activity: 327
Merit: 250
The Best Investment Deserves The Largest Exposure
February 03, 2015, 03:53:26 PM
#21
In 10 min Erik Voorhees will be on DeBitcoin:
https://www.youtube.com/watch?v=lMUwMmNr3GQ

Not sure they will talk about Nxt, but Erik Voorhees, Paul Buitink (DeBitcoin) and Tuur Demeester are among the few in the Bitcoin world that have said positive things about Nxt.


But Nxt is still extremely unknown in the Bitcoin world as was blattantly obvious again on the Singapore conference past weekend: https://nxtforum.org/nxt-promotion/what-nxt-needs-to-go-mainstream-be-known-and-be-trusted/msg158684/#msg158684

(Means still greatly undervalued, and great time to buy)
full member
Activity: 206
Merit: 100
February 02, 2015, 04:32:06 PM
#20
Nxt is very underrated all tech appreciators love it.
legendary
Activity: 826
Merit: 1000
amarha
February 02, 2015, 12:09:03 PM
#19

The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  

There's many reasons people dislike Bitcoin. This is probably not even in the top ten.

I think people's primary concern is whether or not their 'investment' (if you want to look at it from that perspective) is going to appreciate in value over time or not(this only being in the context of using this as an investment, not using crypto as a platform with actual utility). That alone is going to far outweigh any sort of negative feeling towards 'making people rich'. It would be completely irrational to forego a profitable investment out of spite. Now of course there's no guarantee that any investment is going to make a return, but I can't think of many cases where making an investment in anything, be it a company, buying gold through a ETF or a dealer, or any sort of interest baring contact isn't providing financial benefits to the people behind that investment. Whether they're the CEO of a company, or just a financial advisor. It's pretty much a fundamental part of any sort of market based investment.

I do think it's silly though that so many people who aren't early adopters in Bitcoin reject all the new technologies in favour of the first one. I understand that it has the network effect going for it, but if the market were truly rational people would be open to moving towards better technology rather than trying to make sure the world sticks with the first iteration.
hero member
Activity: 574
Merit: 500
February 02, 2015, 10:22:13 AM
#18
NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)

Considering the bad coins they were putting hundreds of thousands of dollars into, but they saw NXT as too risky, yea, it is a red flag. The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  Even though there's a lot of Bitcoin holders, they still think this way.  What will they think about 12 or so NXT staker guys that mostly make up the entire network?  You have to look at it in context that Bitcoin itself might not be dispersed enough to be a viable currency, and if you're required to purchase NXT for further distribution to happen, then it's going nowhere because people just aren't going to do it.  

Bitcoin was basically created as the first welfare system designed for white and asian males.  Once the ASIC arrive and you're not seemingly receiving something for free, interest drops.  IPO is the same difference, no interest.  People will just wait for the dollar to implode and trade sea shells.

Leaving aside how you determined this, it reveals more about how you think about crypto.

Your thinking reveals you view the general public each having thousands to invest, browsing around looking for a place to put their money with a hope of getting rich by doing nothing. And detest the idea of their thousands being put at risk while making earlier investors richer when they cash out and leave them holding the bag. This is outmoded in context of the any crypto that aspires to be a platform for commerce.


In reality, new people are likely to discover a messaging app/interesting project on the Asset Exchange/MSCoin Retail Voucher/MSCoin mining profit/Ebay style Marketplace etc. and want to give it a try. Everything is all in one place in one place so they can try more than one feature with minimal extra effort.


The question they will ask themselves isn't "Am I happy that my $5 is enriching an earlier investor?"

It is "Am I getting good value for the service/goods for the $5 I am putting up to make use of the platform?"


And the platform will continue to grow (as Nxt consistently has) as people become aware of what it offers. If they really like Nxt, then they might put in a more significant amount. Here it is put in a better than I did: http://nxter.org/the-value-of-10-nxts/

"Thus, 10 NXTs are worth 10 transaction performances or the goods and services you can get for them in exchange."

legendary
Activity: 1260
Merit: 1000
February 02, 2015, 10:06:49 AM
#17
NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)

Considering the bad coins they were putting hundreds of thousands of dollars into, but they saw NXT as too risky, yea, it is a red flag.  The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  Even though there's a lot of Bitcoin holders, they still think this way.  What will they think about 12 or so NXT staker guys that mostly make up the entire network?  You have to look at it in context that Bitcoin itself might not be dispersed enough to be a viable currency, and if you're required to purchase NXT for further distribution to happen, then it's going nowhere because people just aren't going to do it. 

Bitcoin was basically created as the first welfare system designed for white and asian males.  Once the ASIC arrive and you're not seemingly receiving something for free, interest drops.  IPO is the same difference, no interest.  People will just wait for the dollar to implode and trade sea shells.
legendary
Activity: 1181
Merit: 1002
February 02, 2015, 04:21:27 AM
#16
NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
February 01, 2015, 05:11:19 PM
#15
NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

That is actually a good sign, as pumping-and-dumping long-term leads only to frustration in the community.

I am actually surprised by the relative stability of NXT against. I thought it would go to 0.00001 BTC again or even lower in some kind of panic event which would cause whales to dump, but I was wrong. Even the BTER theft has not influenced the price negatively.
 
legendary
Activity: 826
Merit: 1000
amarha
February 01, 2015, 06:15:14 AM
#14
I seriously doubt any IPO coin has a future at all and wish people would stop shilling.  The distribution for all of them is absurdly bad, and currency requires broad distribution (ie: can be mined by hundreds of thousands of people in the world).  In that regard, only Bitcoin, Dogecoin, Litecoin, and a couple of other alts have any success in forming a non-comical distribution scheme.  You can probably fit everyone that owns NXT into a Honda Civic.

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

I don't think it's near as bad of a distribution as you think. Especially compared to most alts. Now I'm not sure, but from what I've observed the community has grown and it continues to be distributed through the open market. I'm not a NXT expert or anything, but they definitely have a solid community and things like SuperNET are helping to expand it and continue the distribution.

Also, mining favours economies of scale and not the individual miner ideal which is long gone. And it is inefficient and wasteful. I don't think there's a perfect distribution model yet, but as long as there's a somewhat liquid market and people can buy the currency, it's better that they do it that way than wasting money and energy mining imo.
legendary
Activity: 826
Merit: 1000
amarha
February 01, 2015, 06:12:13 AM
#13
But does he like how the NXT initially was distributed?



Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.



I think NXT has pretty good tech too and has some amazing things in it like the new voting feature, but it's liquidity is anything but good.  It is basically usually either last or second to last in liquidity of the top 10 on CMC.  Even some total scam coins will often have better liquidity.  https://coinmarketcap.com/#BTC   For instance in the last 24 hours only 114 btc worth of NXT for volume, but even coins like YBcoin, Tilecoin, or Unbreakable coin have done better in the last 24 hours.  Even a scam coin like Paycoin is doing better.

Yeah, there's always coins that have more liquidity. But NXT has been trading for over a year now so while scams like Paycoin will pop up and get a ton of volume in a short period of time, a year from now NXT will still be trading while Paycoin of course won't be.

NXT volume still could be a lot better, and it's no where remotely near LTC or anything but it's reasonably consistent and a lot of NXT has changed hands in the past year. A few days ago someone sold 3 million NXT on Poloniex. I just think that it appears to have done a reasonably good job of distribution since it was released. It still has a long way to go to be a top 5 volume currency or something, but it's not going anywhere anytime soon and the same thing can't be said for lots of other alts.
legendary
Activity: 1260
Merit: 1000
February 01, 2015, 05:56:48 AM
#12
I seriously doubt any IPO coin has a future at all and wish people would stop shilling.  The distribution for all of them is absurdly bad, and currency requires broad distribution (ie: can be mined by hundreds of thousands of people in the world).  In that regard, only Bitcoin, Dogecoin, Litecoin, and a couple of other alts have any success in forming a non-comical distribution scheme.  You can probably fit everyone that owns NXT into a Honda Civic.

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.
legendary
Activity: 1232
Merit: 1001
mining is so 2012-2013
February 01, 2015, 02:49:49 AM
#11
But does he like how the NXT initially was distributed?



Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.



I think NXT has pretty good tech too and has some amazing things in it like the new voting feature, but it's liquidity is anything but good.  It is basically usually either last or second to last in liquidity of the top 10 on CMC.  Even some total scam coins will often have better liquidity.  https://coinmarketcap.com/#BTC   For instance in the last 24 hours only 114 btc worth of NXT for volume, but even coins like YBcoin, Tilecoin, or Unbreakable coin have done better in the last 24 hours.  Even a scam coin like Paycoin is doing better.
legendary
Activity: 826
Merit: 1000
amarha
February 01, 2015, 02:41:50 AM
#10
But does he like how the NXT initially was distributed?



Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.

hero member
Activity: 994
Merit: 500
February 01, 2015, 12:52:03 AM
#9
Like it or not, NXT has a very strong community backing it up
member
Activity: 100
Merit: 10
February 01, 2015, 12:28:11 AM
#8
But does he like how the NXT initially was distributed?



Are you okay with people in 2010 buying BTC for cents? I know you are, so what's your problem? Roll Eyes

Same early adopter principle. Those who found out about NXT earlier were rewarded. Just like BTC.
sr. member
Activity: 336
Merit: 250
January 31, 2015, 11:18:48 PM
#7
But does he like how the NXT initially was distributed?



Think about your comment again.  He said that NXT is his favorite alt.  All positive and negative aspects of NXT are probably included in that statement.

So that would mean he was near the front of the line on distribution day.
hero member
Activity: 644
Merit: 500
January 31, 2015, 08:37:59 PM
#6
But does he like how the NXT initially was distributed?



Think about your comment again.  He said that NXT is his favorite alt.  All positive and negative aspects of NXT are probably included in that statement.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
January 31, 2015, 07:27:39 PM
#5
But does he like how the NXT initially was distributed?

hero member
Activity: 574
Merit: 500
January 31, 2015, 06:13:01 PM
#4
"NXT is probably my favorite alt. Love the decentralized asset exchange."

I think this should go in the thread title  Cheesy
legendary
Activity: 826
Merit: 1000
amarha
January 31, 2015, 12:44:00 PM
#3
Good to see people giving credit where credit is due.

I lost a lot of respect for Jeff Garzik when he went on that poorly researched tirade on twitter. That was ridiculous.
sr. member
Activity: 348
Merit: 250
January 31, 2015, 06:57:11 AM
#2
It's good to see this. It makes a refreshing change to some of the adverse comments made by other major bitcoiners.
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