I see 3 major problems with NXT to become a major payment network.
1> Its distribution to 73 big stakeholders through an IPO.
It will be difficult to justify, a lot of people find this outrageous.
It's already difficult for Bitcoin (62% of survey respondents think bitcoin is a scam).
2> POS system.
Miners are important parameters in the ecosystem and marketing.
Investors are important to miners and miners are important to investors.
Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets.
3> JAVA
Probably the worst.
Java is considered bad by many developers. Java is trying to install a shitty toolbar every time you install it or update and it is so insecure.
No open source programmer would ever use it.
Many people don't like Java and they will never add it (I believe it's why mcxnow never added it because it's Java client).
C/C++ are languages of choice of the industry. A C++ client should be developped to become something “professional and credible”.
Topic: MASTERCOIN VS NXT - page 2. (Read 4958 times)
Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.
NEM is the best with the distribution concept. Great team too. The next big thing.
I have to hand it to NEM. Their distribution concept is novel by any definition. Whether or not it has much success, we'll have to find out.
But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together.
This can't be true. I remember sianote (another IPO) made close to 2 million nxt in like 3 or 4 says days, He ended the IPO pretty fast though as he met his goal.
NxtAT got close to 2 million Nxt very fast too
I am so pissed I bought Mastercoin. It has since gone down and down and down. After 7 months, they had one good release with Maidsafe, and that actually turned out to be a mess and an apparent pump for Mastercoin holders to dump large amounts (to people like me).
Now NXT AE has been online weeks, not months and already has a dozen of assests, most of which I think are spam and junk, but at least they work they are not a pump the way Maidsafe was. They are free market and fair pumps.
But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together. This has been a huge win for NXT. It has shown that the NXT AE can and does work like it is suppose to. In that aspect, NXT in just days has done what hasn't even done even once in a year.
Now NXT AE has been online weeks, not months and already has a dozen of assests, most of which I think are spam and junk, but at least they work they are not a pump the way Maidsafe was. They are free market and fair pumps.
But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together. This has been a huge win for NXT. It has shown that the NXT AE can and does work like it is suppose to. In that aspect, NXT in just days has done what hasn't even done even once in a year.
Lol what a joke. No wallet for your smartphone? And some of you say the development team is better than bitcoin...
Go to nxtforum.org and read your ass off.
Come back here in a month and tell us everything you learned.
I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.
I think there will be room for hundreds of altcoins in the future, each serving its own niche function. The reason why there are only 4 or 5 major credit card companies is because anything close to a competitor gets bought or legislated out of existence, similar to how Ebay and Amazon deal with other online merchants.
Since cryptos are currencies and not companies they are not responsible to shareholders, they don't necessarily have motivation to swallow each other whole or knock each other out of business.
For sure, hundreds will always exist, but I doubt more than a handful will reach a useful mainstream status and mean anything to the world economy.
Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
If a 2.0 release is the way to overcome the initial distribution issue would launching one as a spin-off do the trick (though I'll admit I don't know how that would work with a PoS coin)?
Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.
Even Aurora that were distributed were dumped immediately by icelanders and exchanged into btc. So much for adaption. Anything that is distributed to a very large group for free will not have any value. I doubt the idea will ever work.
Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
There's no such thing as a truly fair distribution model.
When startup companies launch, when they have a stock IPO... do they attempt to distribute stock to people equally or do they distribute it based on who has the most interest in it and is therefore willing to pay the most time and money for it?
Trust me, your concern was the same as mine for a month or so. But it dawned on me that this isn't some AsiaCoin or ShibeCoin that was created with the word "scam" in the subconscious of its devs. NXT was meant to be a lasting movement. And if you haven't noticed, the price action of late confirms I'm not alone in my beliefs.
Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.
Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
There's no such thing as a truly fair distribution model.
When startup companies launch, when they have a stock IPO... do they attempt to distribute stock to people equally or do they distribute it based on who has the most interest in it and is therefore willing to pay the most time and money for it?
Trust me, your concern was the same as mine for a month or so. But it dawned on me that this isn't some AsiaCoin or ShibeCoin that was created with the word "scam" in the subconscious of its devs. NXT was meant to be a lasting movement. And if you haven't noticed, the price action of late confirms I'm not alone in my beliefs.
Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?
No, I think that app isn't working anymore.
Just use online site https://wallet.mynxt.info/ if you need to use it on a smartphone.
otherwise use fully featured desktop version http://nxtra.org/nxt-wallet/
http://nxtblocks.info is releasing a web wallet soon as well.
also it will be fully secure, no private keys on the server(all JS crypto).
-bm
Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department.
If that were true, bitcoin would be the most failed coin as it has very bad distribution. Litecoin and peercoin are even worse.
"Fair distribution" is total myth since unless you evenly distribute it to all 7 billion humans on earth, everything would be considered "unfair." In the end as bitcoin has shown it doesn't matter as people still buy bitcoin despite the bad distribution where just one person owns 10% and only few dozen own 40%
Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.
I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.
I think there will be room for hundreds of altcoins in the future, each serving its own niche function. The reason why there are only 4 or 5 major credit card companies is because anything close to a competitor gets bought or legislated out of existence, similar to how Ebay and Amazon deal with other online merchants.
Since cryptos are currencies and not companies they are not responsible to shareholders, they don't necessarily have motivation to swallow each other whole or knock each other out of business.
i think its nxt
Nemstake proved the asset exchange can succesfully be used for asset trading. Maidsafe proved MSC can be succesfully used to defraud people. So its NXT.
sorry, that was proven long before NEMstake came along. -bm
Lol what a joke. No wallet for your smartphone? And some of you say the development team is better than bitcoin...
You must remember that BTC has had 5 years to grow. NXT has had 7 months and has made incredible growth but it is only 7 months. When I first heard of NXT I jumped on board immediately. I hadn't been that excited since first hearing of Bitcoin in June 2011. Back then there were no real venture capitalist investors, no angels, just people working their butts off to create the community and develop infrastructure. That is what NXT is doing right now. People believe in it far more than I've seen anyone believe in the alts. NXT isn't really an ALT ripoff coin anyway, all new code, second gen crypto.
I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.
Lol what a joke. No wallet for your smartphone? And some of you say the development team is better than bitcoin...
Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?
Well it seems like you would bother doing your own research then, which is incredibly easy if you know how to work a Google.
Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?
No, I think that app isn't working anymore.
Just use online site https://wallet.mynxt.info/ if you need to use it on a smartphone.
otherwise use fully featured desktop version http://nxtra.org/nxt-wallet/
Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?
Jump to: