Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 92. (Read 941297 times)

Hi all,

The IGNIS distribution model looks like a scam against investors and the NXT subreddit looks like to be full of pumper and dumpers, and haters in general. The whole situation is very sad.

Long story short, NXT developers knew in advance both IGNIS and ARDOR distributions models, which are based on NXT holdings in a period of developers choice, and could have exploited heavily this knowledge by buying NXT before the public could even know about any IGNIS distribution detail (developer's discussions are not public), and then profiting on the pump which came after the announcement. The NXT price chart indeed reflects the most typical pump-and-dump scheme, where after the ARDOR and IGNIS announcements have been made, a 10X increase happens, for then fading out quickly, with dumpers dumping on investors. Moreover, there are not third parties checking NXT developers statements, and it is not clear if the release of IGNIS (or ARDOR for the matter) was necessary. They are justified for "introducing new features", but for the majority of cryptos new features are introduced with soft forks, rather than duplicating coins (chart: https://poloniex.com/exchange#btc_nxt).

I am trying to make my concerns heard on the NXT subreddit (https://www.reddit.com/r/NXT/comments/6hazwj/serious_concern_about_devs_credibility/ and https://www.reddit.com/r/NXT/comments/6gzedp/scamshots/) but I keep getting accused of spreading FUD and they keep reassuring me that developers did not do anything bad. I do not have evidence of any wrongdoing, but the crypto space is full of scammers and being skeptical is very healthy. Moreover, the subreddit is full of "buy buy buy" people.

The whole situation should be clarified for creating a safer crypto environment.

I need help.

Well i dont understand that calculator indeed. Can you tell how much Nxt will be forged with 1000 nxt on account?

That's per day I assume?

you can check this here: https://mynxt.info/forging_calculator.php

i recommend to set up a node and take part in lucky node lottery. you will get more.

How many Nxt do you get when forging 1000 Nxt?

because BTC is dropping and because the uptrend needs a rest.

  Dear friend.

  When i use 2FA at https://wallet.mynxt.info. My phone (google authenticator) can not scan QR code.

https://www.mx7.com/i/12e/ziJEDB.jpg

It show message " Error   Unknown"

Then I use another phone. It can not scan too.


Do anyone have a problem like me?

And how can i fix it to use 2FA?


Thank a lot

The purpose is to enable "blockchain as a service".

IGNIS is the first default community child chain.

There will be more child chains under the Ardor umbrella, of other communities, private companies, etc. who are in need of a blockchain for their operations, secured by the Ardor parent chain. Securing the blockchain is costly, time consuming and requires expetise, it can be outsourced when these entities use the Ardor platform. Much in the same way as businesses outsource product delivery, website hosting and other specialized operations.
Read more... https://www.jelurida.com/ardor-blockchain-platform-design

Can someone please tell me what's the purpose of a child chain in Ardor, and what's the role of IGNIS ?

Thanks

To forge means you're running a node (you can see a list of all Nxt nodes here). A node helps the network by accepting transactions and sending them through to others. You're also verifying blocks. And depending how much NXT you have, you will occasionally forge a block yourself - meaning you get a reward (all fees of transactions in this block).

Some twists here:
- You can run a node without forging. You will help the network (thus your investment) without getting block-rewards.
- You can lend your forging power to another account (the NXT are still yours, but someone can forge blocks with it). There are pools that let you do this - some give you the reward back. Some keep it for some funds. It still helps NXT, because more of the NXT are forging - so it is harder for an attacker to gain 51% of all NXT.

    If i forge or i do not forge, what is different?

Thank you a lot.

You will.

Yes, you need to install the wallet https://nxtforum.org/nrs-releases/nrs-v1-11-5/ and withdraw NXT to your wallet.

You get IGNIS for having NXT.

you need at least 1000 NXT to be able to forge.

I'M new here, i would like to know whats your prediction for this coin in terms of value potential? and is it worth it to invest now?
thanks!

   I have 18NXT at my wallet on Client nxt.
but, sometime It show that I have 0 NXT.
and show not forging as picture.

https://www.mx7.com/i/1ba/vQ8FDf.jpg

what is happening?

Does one have to do anything to get the IGNIS if you got all your NXT on bittrex and poloniex?

Also do you get IGNIS for having ARDR or not?

  If i keep my NXT at  https://wallet.mynxt.info/, I will get IGNIS or not?.

Trades and speculations.

Still NXT is way undervalued relative to other overhyped projects.

Less and less NXT coins will be available to buy because of IGNIS snapshot moment is coming soon.

OK, here we go:
- The ICO of NXT went only to 73 investors... who paid like 21 BTC (which were $100 back then). I think it was a mistake. Too little supporters, and too many envious people. And no funding to carry it through tough times.
- Which lead to essentially zero marketing for a long time.
- NXT was the first pure Proof of Stake coin, so everyone attacked it for being unsafe.
- Tons of hacks surrounding NXT, like the couple million stolen from the Bter exchange, which really hurt the price (despite that, the community decided to defend the immutability of the blockchain). Add in some scammers like "cointropolis" that took a community leadership and disappeared later.
- I think the worst one: Tons and tons of assets/ICOs. Which drove the price up (exactly what's happening now with Ether).... but then maybe one in a hundred turned into value (e.g. NEM). All the rest turned to dust. Many might have just been dreamers with unworkable ideas. Some were huge scams: Many assets were vehicles to invest in cloud-mining, which then disappeared.

Combine it all, and it's quite a lot of trust lost and people looking elsewhere.
Amazingly, the tech has held strong though, and kept improving. Props to the devs. The new revival of the alt market gives it a new chance - with hopefully lessons learned.


I think there are more... but anyways, it makes sense for offerings to go to the platform that has the most attention. That is Ether.