| Nxt | Blockchain Platform | Proof of Stake | Official - page 464.

Vega

hero member

Activity: 739

Merit: 500

Quote from: luckygenough56 on May 13, 2014, 05:02:55 PM

I made a withdrawal on cryptsy

Nxt 9049951402102219004 1011.00000000 NXT Yes 2014-05-13 14:09:23
Processed TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Nxt tranfers take a few minutes max. My guess is that Cryptsy are on a fork. Wait for a bit, maybe the transaction will show up. If not, open a ticket.

verdun2003

sr. member

Activity: 308

Merit: 250

Quote from: barabbas on May 13, 2014, 04:51:35 PM

Quote from: Ezravdb on May 13, 2014, 04:45:45 PM

Quote from: barabbas on May 13, 2014, 04:42:43 PM

Quote from: Voluntold on May 13, 2014, 04:39:38 PM

Quote from: barabbas on May 13, 2014, 04:37:35 PM

Quote from: TwinWinNerD on May 13, 2014, 04:31:53 PM

Quote from: barabbas on May 13, 2014, 04:30:06 PM

Quote from: bluemeanie1 on May 13, 2014, 04:27:32 PM

Quote from: barabbas on May 13, 2014, 04:24:30 PM

Quote from: bluemeanie1 on May 13, 2014, 04:06:34 PM

Quote from: barabbas on May 13, 2014, 03:56:52 PM

but many more continue adding coins by forging massive amounts

no the total NXT in circulation does not increase. The money supply is constant.

-bm

So those people with 40-50 million coins, they don't forge more?

they do forge BLOCKS and they get the TX FEES as payment for doing so. So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees.

it's quite different than Bitcoin.

-bm

I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right?

yes, but that is true for everyone only forging and not selling. What is your point?

My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents?

Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong?

You are wrong. There isn't a huge distribution problem. Distribution is already way better than bitcoin's and continues to get better.

I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding?

You sir must be a troll...

Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

This is a legit question. If you look back in time (thank you archive.org, 19th april : https://web.archive.org/web/20140419201626/http://87.230.14.1/nxt/nxt.cgi?action=34), you'll see that the coins pretty sticked to the top holders - distribution was even worse before as there were a few 50,000,000 wallets, now only 2 remaining. This problem is not new, and many ppl saw this as a threat. Time showed us that in the 6 months ++ period, that no big holder sold his coins abruptly.

Now, ask yourself this question: "what is my interest, by being a huge holder of NXT, to see the price decline?" None. The best way to see it decline is through the liquidation of the wallet of one of the... big holders. There is a huge difference between the amount of wealth you have based on the market price, and the total amount you can get by liquidating your position. You may have 6 million USD with 50million NXT at a market price of 0.0000716, but if you cash-out, you may have to put the market at 0.000001, or even less, depending on the order book bids - thus, ending up with way less than the expected 6 million USD.

In a nutshell, it is in the interest of those big holders to... keep the coins. Let alone all the projects that are blossoming all over the place.

TwinWinNerD

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CEO Bitpanda.com

Quote from: barabbas on May 13, 2014, 05:13:17 PM

Quote from: TwinWinNerD on May 13, 2014, 04:54:15 PM

Quote from: barabbas on May 13, 2014, 04:51:35 PM

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

Show me 10 stocks that don't have the top 10 investors hold >1/3 Wink

I could show you many. Just for your reference, since you profess total ignorance on the matter- I will remind you that Steve Jobs himself was ousted from Apple. And that wasn't an exceptional occurrence either.

But any similitude with stocks in a cryptocurrency, is pure coincidence and the poorest of excuses for stocks are HEAVILY REGULATED and cryptos are not at all, therefore anyone can perpetrate any kind of fraud here without any consequences, while in stocks, in the real world, he (they) will be taken to jail.

It is preposterous that the top 20 -or 50- wallets control 80-90% of the coins. Not just preposterous but both a distribution problem and a recipe for disaster.

But you really don't care about that, really, do you? You don't care about the future at all, you just want your holdings, whatever they are, to be worth more than you paid for and, when spiking, getting out, right? That's called daytrading or swing-trading. And it's quite ligitimate, so no problem at all with that.

There's a big problem though when you pretend to serve that stance with FUD or inventing similarities that don't exist

I care more about the future than you, and I have evaluated and informed myself, the contrary of what you did.

Do you know gametheory? Lets assume what you are saying is true ( it isn't in reality): that top 20 accounts have 50.01% of the funds. Now, to destroy or harm the network, they would have to work together. TWENTY people have to organize themselves to hurt the network. This on its own is ridiculously hard. But now comes the kicker: WHY THE FUCK WOULD THEY DO THAT? That is the question. Why? Maybe to burn their 15,000,000 USD investment? To through away then money they own? Sure why not... sounds perfectly reasonable..

There is a huge difference between a POW 51% attack and a 51% attack of POS. You would need to kill your own wealth.

Now **** off you troll fudster and get your facts straight.

Ezravdb

hero member

Activity: 1680

Merit: 506

Trphy.io

Quote from: barabbas on May 13, 2014, 05:15:45 PM

Quote from: Voluntold on May 13, 2014, 04:53:50 PM

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'. Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

Glad you took the effort to look at the Top 100 NXT accounts Cool

Vega

hero member

Activity: 739

Merit: 500

Quote from: barabbas on May 13, 2014, 05:15:45 PM

Quote from: Voluntold on May 13, 2014, 04:53:50 PM

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'. Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

Based on your post history it's pointless to engage you. You are like a dog with a bone.
Got bored with BlackCoin, now you are going to write endlessly, page after page about how unfair/scam Nxt is, right?!
It's gonna be great, can't wait.

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: bluemeanie1 on May 13, 2014, 05:14:57 PM

Barabbas, do you think Ethereum's business MO is legit?

-bm

I have no idea, nor I care for it anyway.

Oh and I would dearly love to be able to make NXT look good.

Unfortunately, no one can, I now realize with some degree of despair, I have to admit.

I thought I had found the NEXT thing in crypto and just found another scam in progress, a very successful one indeed already.

barabbas

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Activity: 1162

Merit: 1000

Quote from: Voluntold on May 13, 2014, 04:53:50 PM

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'. Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

Barabbas, do you think Ethereum's business MO is legit?

-bm

luckygenough56

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Activity: 1526

Merit: 1012

Quote from: Ezravdb on May 13, 2014, 05:07:38 PM

Quote from: luckygenough56 on May 13, 2014, 05:02:55 PM

I made a withdrawal on cryptsy

Nxt 9049951402102219004 1011.00000000 NXT Yes 2014-05-13 14:09:23
Processed TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Cryptsy, unfortunately is very slow in NXT withdrawals.. Sad

NXT itself is not the cause of this problem

BTER for instance has instant withdrawals..

You should put up a support ticket on Cryptsy, because this is not acceptable..

Problem is that withdrawal is indicated as processed (not pending) and still nothing in block explorer or wallet after 2 hours. Someone already experienced that ? They can't fake a trxID, can they ?

barabbas

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Activity: 1162

Merit: 1000

Quote from: TwinWinNerD on May 13, 2014, 04:54:15 PM

Quote from: barabbas on May 13, 2014, 04:51:35 PM

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

Show me 10 stocks that don't have the top 10 investors hold >1/3 Wink

I could show you many. Just for your reference, since you profess total ignorance on the matter- I will remind you that Steve Jobs himself was ousted from Apple. And that wasn't an exceptional occurrence either.

But any similitude with stocks in a cryptocurrency, is pure coincidence and the poorest of excuses for stocks are HEAVILY REGULATED and cryptos are not at all, therefore anyone can perpetrate any kind of fraud here without any consequences, while in stocks, in the real world, he (they) will be taken to jail.

It is preposterous that the top 20 -or 50- wallets control 80-90% of the coins. Not just preposterous but both a distribution problem and a recipe for disaster.

But you really don't care about that, really, do you? You don't care about the future at all, you just want your holdings, whatever they are, to be worth more than you paid for and, when spiking, getting out, right? That's called daytrading or swing-trading. And it's quite ligitimate, so no problem at all with that.

There's a big problem though when you pretend to serve that stance with FUD or inventing similarities that don't exist

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

does anyone else here feel like some of these posters are intentionally trying to make NXT look bad?

-bm

Ezravdb

hero member

Activity: 1680

Merit: 506

Trphy.io

Quote from: luckygenough56 on May 13, 2014, 05:02:55 PM

I made a withdrawal on cryptsy

Nxt 9049951402102219004 1011.00000000 NXT Yes 2014-05-13 14:09:23
Processed TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Cryptsy, unfortunately is very slow in NXT withdrawals.. Sad

NXT itself is not the cause of this problem

BTER for instance has instant withdrawals..

You should put up a support ticket on Cryptsy, because this is not acceptable..

Anon136

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Activity: 1722

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this series by reason on the emerging peer2peer economy was really good i think. https://www.youtube.com/watch?v=vXS8JLXu0zs

luckygenough56

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Activity: 1526

Merit: 1012

I made a withdrawal on cryptsy

Nxt 9049951402102219004 1011.00000000 NXT Yes 2014-05-13 14:09:23
Processed TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

Quote from: barabbas on May 13, 2014, 04:51:35 PM

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

EIDF detected?

https://nxtforum.org/alternate-cryptocurrencies/dogethereum/

-bm

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: barabbas on May 13, 2014, 04:51:35 PM

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

Show me 10 stocks that don't have the top 10 investors hold >1/3 Wink

Voluntold

full member

Activity: 168

Merit: 100