Topic: NXT coin - A total scam? - page 12. (Read 49724 times)

Rofl at being proud of NXT distribution. I hope this shit dies or someones creates a fork with same attributes but new ppl

salsacz (January 16, 2014). Retrieved from: http://nxtcoin.blogspot.fi/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html

NXT:

Nxt was invented by BCNext, who is a programmer at the age of 35+, who lives in Europe.[1] He is a veteran member of Bitcointalk forum, but he stays anonymous like Satoshi Nakamoto.[2] He can still reveal his identity, as he promised.[3] BCNext prefers to work on creating the project alone. He paid a team of core developers to help him with the client and create some functionalities like decentralized exchanges. One member of the core development team Come-from-Beyond was paid by BCNext to work on Nxt from October 2013 till April 2014.[4] Come-from-Beyond is a 34 years old programmer from Minsk in Belarus.[5]

On January 2014 joined Jean-Luc a core team as a non-paid programmer.[6] He has a Phd, probably comes from Switzerland (or France) and already celebrated his 30th birthday.[7] Jean-Luc’s duty is to work on the code. Jean owns nice amount of NXT, that's why he is programming for free, for the benefit of his own investment. BCNext was only an inventor, others will continue on his legacy and rewrite his ideas into a better looking Java codes.
After the release of the source code started many developers with code corrections.

 A few Greek IT experts from Thessaloniki and Athens are being paid for reviewing the code by the original stakeholder Klee who is managing them.[8] Klee spent a huge part of his Nxt on donations, bounties and giveaways.[9] He doesn’t hide his real identity, so he is moderating Facebook group Ubiquitous Cryptocurrencies under his real name.[10] The names of his team were also revealed.

There were only 8 original stakeholders who paid 1 Bitcoin during open IPO.[11] Each of them got 50 million NXT, Klee is one of them. In January 2014 only 4 of these 8 original stakeholders own more than 30 million NXT.[12]
There are at least seven developers who are working on the Nxt’s applications fulltime: Abuelau, ferment, nexern, NxtChg and Graviton with his assistant, who helps him with the biggest Nxt exchange. This list isn't finite, there are many new Nxt developers, like Marcus03 or wesleyh with their fantastic apps. There are tenths of helpers, translators, authors of articles, but people who said that they “work” for Nxt fulltime or at least halftime are: Joefox, Opticalcarrier, Pinarello and Salsacz.
500 different people had already been discussing at the main Nxt thread in Bitcointalk.[13] Once there were 93 active nicks in last 3 days. In the middle of January they reached 20.000 posts at the page of 1000.

The statistic from the end of 2013 shows the biggest spammers of the Bitcointalk topic: Come-from-Beyond (2005), laowai80 (460), klee (324), smaragda (304) and opticalcarrier (211). 15.000 people own Nxt account, this number rises by 200-400 every day.[14] 500 users own more than 100.000 NXT, 2.000 stakeholders own more than 1000 NXT.[15]
Nxt network of peers has got members from all over the world. Most people come from the United States, but there is also a big community in Germany, Hong Kong, Russia, United Kingdom, Japan and Netherlands. There is one user from Iceland, Jamaica, Panama, Ethiopia or Israel.[16] Some of the Nxt Wiki pages have already been translated into 11 languages.[17]
Nxt is still a small group of individuals who have no centralized place. Nxt is a decentralized currency, that’s why there are more Nxt forums, exchanges, sites, social media profiles and also marketing groups. There will never be any main leader. All decisions in Nxt will be based on democratic voting.

Questions for BCNext:
January 2014:
Q:  Why was the initial funding cancelled suddenly with few people?
A:  I wanted Nxt to be launched by the community, not by a single person.  Success of Nxt is supposed to be achieved by work of a LOT of PEOPLE.
Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
A:  This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.
Q:  What are the most important 5 things the community should do, in order to properly support Nxt in the next 6 months?
A:  Review all my ideas, they might be flawed.  Avoid centralization.  Do not pay much attention to the price of 1 NXT measured in fiat money.  Remember that half-measures is a way to nowhere.  Do not trust strangers on the Internet, especially if their nickname is "BCNext".

November 2013:
Q: how many bitcoins are you going to contribute? (are you going to keep the coins you contributed yourself?  or you will take a creator cut (certain %)
A: I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.
BCNext’s citations:
A lot of time was spent on talking, the outcome did not satisfied me.  That is why now I am working alone.  The things are implemented much faster this way.[18]

What others said about BCNext:
Come-from-Beyond:
 „I don't think BCNext is interested in money. He spent more than he raised funds.“[19]
„With all my respect to BCNext, he is too paranoic about FBI/aliens/illuminati, they r not interested in kidnapping of yet-another-cryptocoin creator. I believe that was (unsuccessful) PR attempt. Fortunatelly, we don't need him after the launch.“[20]

What is BCNext?
Next is next.
Salsa also thinks that „BC“ comes from the Proof of Stake article and referrs to „Beyond Cryptocurrency“.

What else do we know about BCNext?
He often uses special phrase „can not”. He is a genius who doesn’t care about money or glory.

BCNexts likes symbols:
Now we know about 3 symbolic numbers hidden in the world of Nxt:
-       3 January – the release of Nxt happened 5 years after the release of Bitcoin.
-       21 Bitcoins – The IPO was stopped in the time when were gathered 21 Bitcoins, i tis 1/1000.000 of the all existing Bitcoins from now on.
-       Anonymous BCNext – BCNext plays the same role as Satoshi Nakamoto. We don’t know who they are.

salsacz (January 16, 2014). Retrieved from: http://nxtcoin.blogspot.fi/2014/01/nxtmyths-1-nxt-is-not-scam-it-wasnt.html

I think the issue with Nxt distribution versus Bitcoin distribution is that Bitcoin is still distributing new coins.  It is just 1/2 of the way there.   

Nxt by contrast has distributed everything.  Only the transaction fees are left to collect.

So I agree with the Nxt contention that today the Nxt distribution may be more fair than the current BTC distribution.  However, I agree over time that BTC will have fairer distribution.

well, the question is not if you can, you have done it.

The question is, is it fair to do that? I am willing to bet, that after 2 years, the top NXT holders will have a way bigger % than the biggest BTC holders.
Edit: My point is, the 0.005% of BTC are more people than the 0.07% of NXT.

you can compare the relationships, right? 0.14 is 2x bigger than 0.07 in Nxt, but similar table - 0.087 is 17x bigger than 0.005. Or not?

I am a big fan of NXT, but that chart is just a random way of displaying information that is abusing some major facts. You CAN NOT compare two payment systems that have so extremely different userbases with percent quantiles. That is not fair.

Do you personally think, that if we double our userbase, that the first NXT number would not get nearly half as big?

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

Unclaimed?  The guy got 170 million, and took out 170 million.   Can you explain this 170 million account?

What's wrong with the unclaimed coins account? Go to school... Or church

Here it is:  http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=10105875265190846103

Look at amount in and amount out. 

nope, there was no acc with 170 mega. show ID

Yes,  that means the majority are in the mean.

With Nxt,  9 accounts holds 57% of all coins.

I am just saying that a more fair distribution would be better.

gimme an ID, I dont know about it.
this is fair and normal distribution

49985380
49875751
49875751
49875751
49875751
49875758
49876257
49875751
34913026
49875651
30922966
29856290
29437998
24912938
24880020
22166945
19925363
16625250
15487585
14962725
14887912
11083556
9975150
9,975,150
9,476,393
8,644,631
6,668,388
5,486,333
5,264,386
5,033,128
4,987,575
4,987,575
4,962,637
2,916,900
2,867,856
2,724,712
2,690,963
2,684,479
2,468,850
1,970,092
1,845,403
1,476,156

This is the FAIR distribution that the Nxt folks are so proud of:



This is a graph of the original NXT distribution.  73 accounts.

Here are the numbers:

36742
1970092
349130
24880020
2867856
9975150
2690963
7648
5486333
34913026
997515
30922966
6650
44888
2468850
49875751  <-- Did he pay in?
49875751  <-- Did he pay in?
9476393
49875751 <-- Did he pay in?
14887912
528683
583546
7315
19925363
29856290
5320
4987575
5985
24912938
49875751 <-- Did he pay in?
2724712
1482474
200999
1476156
498758
987540
16625250
5264386
15487585
2684479
14962725
34913026
5033128
2916900
49875751 <-- Did he pay in?
4962637
170486123 <--- 170 million Nxt
8644631
22166945
6668388
233751
4987575
11083556
1845403
49876
3491
3491
9476
49876
6151
682633
49875751 <-- Did he pay in?
482964
4988
49875751 <-- Did he pay in?
4988
9144
503745
49875751 <-- Did he pay in? Yup, 50million each
52370
29437998
585375
9975150

Correct.

Did I understand forging correctly?  No new coins are created,  all you get are the transaction fees.  Is that correct?

How exactly would you do equal opportunity for forging?  You alone dictate how much money you want to spend and therefore how much of chance you have.  It's the same in BTC world.  You can buy a block erupter for $50 or ASICs for $50K and your chances are dictated by that.  You are just as unlikely to ever find a block with that $50 block erupter in the BTC world.  Oh BTW $50 is about 750Nxt.  So are you leaving BTC as well then?