Topic: NXT coin - A total scam? - page 4. (Read 49715 times)

I'm a total outside observer. I looked at NXT a few times. Let me give you an honest perspective.

It seems that the core feature of NXT is decentralized asset issuance and trade. So I could, conceivably, use NXT to start a company and finance it by offering shares. Like a decentralized version of Havelock. Personally, I will never buy shares offered by someone like Friedcat or anyone on a platform like NXT because of trust. You'll have the tokens, which may or may not be backed with some small amount of NXT. But he'll have the hardware, plant, and equipment which is where most of the value would be. Friedcat was one of the most respected, trusted guys in bitcoin since 2011 with one of the biggest bitcoin companies ever. There's not going to be anyone more trusted unless there's a time machine. And most share offerings, like Labcoin, have turned out to be bunk.

This whole experiment in decentralized user-issued internet share offerings has been a massive failure wrought with scams and fraud. That's the first cloud hanging over NXT.

SatoshiDice was the closest thing to a real success in user-issued assets. What happened there? Voorhees ended up getting fined by the SEC for unauthorized, unregistered share offerings. So that's the second cloud hanging over NXT. People who offer shares are going to get fined or thrown in jail. So legitimate, trustworthy companies like Overstock, who actually do want to issue shares and use decentralized platforms, aren't going to do it because of legal liability

You may say "NXT has other features." Without the assets, what is NXT? You have a marketplace. But there's Open Bazaar and other platforms that are specifically designed to be marketplaces. Messaging? If I want to message people, I'll get on BitMessage or Gchat. Alias system? Doesn't really matter unless people are using the platform. In other words, the other features besides asset issuance are done better by other people or unable to attract users on their own merit. NXT will succeed or fail based on the strength of its core feature, which is asset exchange.

NXT is working on some additional features, like smart contracts. Ethereum raised millions and millions of dollars just to devote to designing a platform to handle smart contracts. No offense to NXT's developers, but I don't think you will be able to compete with full-time, top developers who are focusing 100% on a problem that you're doing as an add-on or side feature. Smart-contracts themselves are such an insanely ahead-of-its-time idea that I doubt will get any traction in the real world for years.

Finally, NXT has very few users. Some of you may think "If NXT gains that critical mass of users, it can really bloom." I really don't think so. In fact, if NXT had a bunch of users issuing shares, issuing money, and people were buying, I think you'd see so many scams and so much heat from financial regulators that it would make Wikileaks look like Wal-Mart.

I'm just not seeing it. Sorry. But as far as NXT's method of crowdfunding and distribution goes, it's not a scam. You can decide whether you think there's been enough time and volume for NXT to be distributed enough. The initial offer was public. No problems there.

I said devs you idiot, not original IPO contributors.

Are you for real?  NXT block explorer proves that a lot of them had already dumped at the peak (above 6 cents) and have never came back.   Of course some whales were slower than others, hence why every time NXT rebounds ever so slighty a NXT whale dumps it back down!  If you want to make a charitable donation to a guy's Lamborghini fund then buy NxT.

If NXT was a scam the devs would have dumped at the peak and made an assload of btc/fiat.

Guess what?  They're still there around and continuously innovating at that.  At the moment crypto is mostly full of pump and dump shitheads who rove from alt to alt skimming profits where they can, and the sheep follow.  Some get lucky, some get sheared, some get skinned.

You're not a troll, you're just a retard.  It happens, man.  They're support programs for that..

i mean nxt can very well be an elaborate scam. i mean why can't the devs just work off of Bitcoin core and do what counterparty or coloredcoins is doing and just use the bitcoin blockchain's OP_RETURN instead of creating a whole entirely new system?

im sorry but i'm going to have to join the trolls on this:

... NXT IS A SCAM ...

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what i've been noticing, the more trolling these threads get. the more publicity it gets and curious users will do their own homework.

Holy crap. Calm down, pal. It is not a matter of life and death.


Bitcoin is an amazing idea realized. It could have failed and still can.

Same goes for Nxt.


Both showed the world what is possible. It's up to the world to decide which concepts are necessary, useful and therefore will survive.

Nobody caring that Satoshi collected vast amounts of BTCs? Oh sorry, nevermind.

LoL ! altcoinUK's word against Daedelus.

Who's should I take as genuine ?

Lets see. In my experience one's a loudmouth cryptocurrency trainspotter who's most constructive contribution to this industry is finding endless new subjects on bitcointalk to use as target practice for his over-active pea-shooter.

The other's one of the most hard working, dedicated and respected people in crypto.

Right, it's clear I don't have to stop too long in this thread to know whats going on    Bye !

I'm not going to claim NXT is a scam -- only that the people who spend most of their time on this forum claiming it's the greatest thing ever, sound a whole lot like scammers.

In fact my negative reaction to the posts has been so strong that I don't really give a crap whether NXT is really a scam anymore -- it's a bunch of slimy-sounding people I want nothing to do with.  

the smart thing would have been not to type the nonsense. oh forgot this is the altcoin section

wow, necro-nxt-scam-threading. please drop me a line as soon some tits are posted here.
(have to pick up some food now to compensate my energy deficit due to typing this nonsense) 

@altcoinUK

Before I invested in NXT I went over the still manageable amount of NXT threads on this forum for many hours, time and time again.
I checked the incoming transactions on 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a and tried to find out who-is-who. Many founders could be identified easily and many after investing some investigative work.

There is still a lot hidden or unknown to me, but calling NXT a scam founded by a "handful of people who created the original 73 shill accounts" actually insults my intelligence.

Please provide some information that backs your statements or better shut up.


@TaunSew
Please continue as usual, your blabber seems to have a positive impact on price.

Of course you are right, it is not and never was.
Look at how fast scams like Auroracoin and Paycoin came and went.
Nxt is still here and developping faster than ever, we're just having fun with trolls.

Links that support any of this? It would be impolite to ignore me or refuse the request   I'm a patient man. I have asked before but with no reply.

They don't do anything else than try the hype keep going to scam out more money from newbies, idiots and naive wannabe rich investors.

Besides that obvious fraudulent nature of the whole NXT operation from the start up to date, the endless vapourwares and pathetic assets on their "exchange", NXT offers nothing that is not possible to achieve with Bitcoin and for that reason the operation makes no sense whatsoever in a market where the lead status of Bitcoin is pretty much established.
Even Bitcoin is having serious problems with acceptance from real world users, after 6 years we have less users than a dating site. As we see, it will be hard work to achieve a wider acceptance even for Bitcoin. I am not sure what makes think NXT users that a shady scam operation can win over users which Bitcoin couldn't.

No wonder this NXT shit is going down quickly.

Yes! Taunsew, we would be very glad if you could post some new pics!

You make excuses, you know about http://en.wikipedia.org/wiki/Argument_from_authority very well. So your appeal to Garzik (as authority) has roots in freudian theory.  

Good question. Do you have blockchain links to show where it is? Must be hard to hide tens of millions in crypto, let alone move it into fiat. Should be easy to find.

achim, you spoiled it! Those links are usually Taunsew's next move  Maybe you'll force him to come up with some new material