Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 79. (Read 941297 times)

(I'm sorry if you've seen this before. I just posted this on Reddit and I thought I'd say it again here.)

People had been complaining about the ICO, for good reason. They were also saying the devs didn't care; that they were happy if a few whales bought as long as they got their money. Those of us that have been involved in Nxt for a while knew better.

This update is important for two reasons. The first is that it levels the playing field. It effectively gives the bot advantage to everyone. Now whether you get to buy or not mainly depends on whether your transaction is lucky enough to reach the forging node before the offering is sold out. That mostly depends on your network connectivity. Whales don't get any particular advantage any more.

Perhaps more importantly, it also shows that the devs listen to the community, they care, and they work hard to fix problems. They have been doing this for more than the 4 years that Nxt has been a running crypto-currency. They will keep on doing it into the future. They believe in crypto-currencies as a force for good in the world and they are making it happen.

The potential here is huge. Nxt has taken a bit of a beating over the last year, partly because the devs have been working on their vision for Ardor and so Nxt itself has not had many updates in that time. All that behind-the-scenes work is about to come to fruition, with Ardor now on Testnet and going to be properly launched on Livenet by the end of the year. Ardor finally solves the scalability problems that cripple all other crypto-currencies.

The problems this ICO has had are problems of success. It is over-subscribed. Whales want in because they know the devs will deliver. They also want to put their money in because they know money is needed. Nxt raised some Bitcoin for development and marketing back when it started, all those years ago, and that money ran out. The community tried to raise money other ways, but really Nxt has been running on fumes for a while now. The success of this ICO means that phase is over.

The Ardor platform will finally have the financial backing it deserves. With that, and the unmatched technology, and some of the best devs in the business, Ardor/Ignis is poised for take-off.

TWO weeks after end of ICO.

That's not what it says in the link, and in fact the devs have now made a change to the client. In effect, everyone now gets a bot. Whether you can buy or not now mostly depends on network delays. It's a lot fairer. Everyone has a chance now.

That's the good news. The bad news is that it's only a chance. This ICO is over-subscribed. In this evening's offering, there were over 800 people trying to buy. Most of them failed. You can expect to fail many more times before you succeed. At least now trying is easy. You just have to be running a node; you don't have to stay up yourself.

I still think a pro-rata system would be better - one where everybody who wants some, gets some, even if they don't get as many as they want. It would mean whales would get the most, but that's the nature of whales.

Thanks!

I read:

The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round. The launch of Ardor will therefore be done in Q4 instead of Q3, the delay being due to the complexities of setting up and running a legally compliant ICO.

ARDR distribution
The ARDR coin distribution will be 100% based on ARDR asset balances from the Nxt blockchain, in 1:1 ratio, with each user account automatically receiving the same number of ARDR coins on the Ardor platform as the number of ARDR tokens they have at the time of the snapshot. As a reminder, ARDR tokens on the Nxt blockchain were allocated to NXT holders based on their average NXT balances during a three month period in 2016. ARDR tokens have been freely tradeable ever since. No new ARDR coins will be created.


Timeline = AFTER the end of the ICO, hence after Oct 07 - Oct 14


Pls correct me if I am wrong

All is explained here: www.jelurida.com/ico

When exactly will be done SNAPSHOT on NXT holders to get IGNIS coin

New version 1.11.7 is released: https://nxtforum.org/nrs-releases/nrs-v1-11-7/
And please read a Q&A of this new release: https://nxtforum.org/general-discussion/nxt-1-11-7-qa/

I had only 40k Nxt in my wallet, and was lucky enough to forge dozens of Nxt in a week.

Can someone instruct me on how to download the asset Plug in on nxt.info ?

The swindle is on and people like you just don't want to see it even if it is so blatantly clear it is biting you in the ass. But hey, you are not alone in the real and pretended blindness. That's why you will indeed pay. Dearly. As those other blind ones will.

FYI, newcomers!
Did you know you can mine NXT (and buy Ardor with it on the Nxt Asset Exchange and receive IGNIS!) in the Lucky node project?
Computational and bandwidth requirements are very low - some users run it on a Raspberry Pi.
Run the node 24/7 or as often as you can while you work or play.
Join in with the over 100 nodes that are already in the project.

A whale got a huge chunk of the ICO? Welcome to cryptoland. Everyone had to expect exactly that. And there was no way to prevent it. It's an age old problem that there is no solution for yet - until someone comes up with one, this is just the good old crying about whales again.
   
The whale also put a lot of confidence into Ignis. So that's a good sign. We know now that Jelurida and thus the development will have some funding. If at all, then the whale hurt his own investment by scaring people.

I entrered at 4400.
Now it's 42xx, but hopefully the trend is slowing down.
I'll hodl until the end of the year news. I put my NXT on the nxt wallet

Wow. I consider holding for 3 years an asset to the community.

My take is this: The devs and those that surround them in the different aspects of crypto (marketing, fud fighters et ) have worked hard. Very hard. Long hours, little to no pay, for YEARS. Often frustrating having to go over the same issue they thought they had answered over and over again. Most likely investing more, little by little, because they believe. Many have fallen by the wayside. They feel everyone deserted them in the darkest hours of Nxt (I sometimes detect they feel they have been slighted, and anyone now who wasn't around during that time is not worthy of their time). And now they finally have a good Nxt pile that is finally worth closer to what they (and everyone else holding for years) believe it is worth.

But now they are over invested, emotionally. They feel they have more rights and say than anyone else, as it is their baby. They have to protect it. They have to protect the money they have worked so hard for, sacrificing time with family and even relationships as Nxt was prioritized. They feel it is their right. And they are blind to the damage that could soon be done. I'm not asking you to listen to me, listen to Brangdon. He has always been one of Nxt's best assets, for his advice is always relentlessly balanced, informed and considered. He is right on this too.  

https://nxtforum.org/general-discussion/ignis-token-sale-progress/msg234763/#msg234763

>>>> Pro-rata the distribution to all bids in the block. e.g. you give 5% of the money to a block, you get 5% of that Ignis chunk.

Ardor is supposed to become an ICO platform and the first ICO is in acrimony. The playing field is unlevel (only look at seasoned accounts if you want to label all low post accounts as socks/fudsters). People aren't going to hang around waiting, and seeing their time wasted  over and over as whales with bots have their fill.  They will hang around if they can get a small slice regularly (people forged in pools to get regular payments, remember, even though they get no more Nxt).

Even if the outcome is exactly the same and the whales get the same % that they would have under the original scheme, Brangdon's system is still better. You want engagement. Nxt has always had the most advanced tech, and we soon still will. But our shared history shows it means nothing and we will continue to be minnows without users, engagement and buzz. The current attitude of 'it's free market, best/most advanced users in the crypto jungle will prevail, they deserve it, well done them' won't be enough.

Listen to Brangdon.

looks more of a panic sell at right moment.....

why would anyone provide cheap NXT for ignis ico

No, devs won't fix their sh... ICO structure, check https://nxtforum.org/general-discussion/ignis-token-sale-progress/
They wrote that they won't change anything.
This ICO will only be bought by bots, the tokens are sold before they are even announced in the wallet GUI, so normal users don't have a chance to buy.

The developers did not express themselves about this and said they will solve the problem for the next ICO?

Good riddance. You're just a speculator, not an asset to the community.

Because nobody want take part in scam ico made by Jlrda. i'm in nxt since 2014 and even me sold all my nxt.

consolidation