Topic: NXT :: descendant of Bitcoin - Updated Information - page 2038. (Read 2761645 times)

holy words
  I could not have written a better

Apology accepted 

Ok, i understand what you say about the extensibility. But that forking of the code into altcoins is what will probably happen to NXT as well as soon as it's source is published. The only way to keep this from happening is implementing features faster and better than anyone else could. But that will only occur if there are (lots of) experienced programmers working on the same codebase. But I am not worried about that.

I agree that the alias system was implemented well and worked without (too much) bugs. So I see it's value there as well.

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

First off, because I basically am just a small investor with no indepth knowledge of the functionality of the system, I cannot comment on the trust fund etc.

An ad supported faucet (at least in the beginning stages of Nxt) seems like a good idea to get some circulation.

As far as I can see that is basically a condition that any plan at this point needs to meet: does it get the coin circulating in a way that does not break the market? If so, it's worth thinking about. if not, it's just not viable.

The spice must flow!

See i don't know how you are still forging. I have been on nxt 24 hours a day for the past couple weeks, even calling half that time down for crashes and ddos, and thats still a TON of hours. I have almost 285k nxt and my block chain says that I should have forged an estimated 175nxt. In reality, I've forged two blocks and earned 1nxt.  I KNOW its new, and crashy, and lots of empty blocks, but I really think the issue is about understanding how the "staying connected" works

see http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15436509232181115695

hey 1992, problem with the "trust fund" is whoever controls it can fake, lie, cheat, and steal by manipulation.

I agree shouting 'unfair' is not constructive. That is why I suggested to put 80% of the coins in a sort of trust fund and dole them out when transactions are executed. Apparently this has something to do with going to Church.

Having an ad supported faucet apparently is also not supported by most here.

I agree that giving them away is not constructive and is in no way supportive of the currency. There has to be some sort of work that has to be performed to get coins. So far not very many of these programs exist however. Maybe I just didn't look in the right places.

When I forge, I start java client, login via web browser, then close browser and keep java cmd open.  This will allow you to continue forging without having your wallet open in a browser.

user1922,

We are having a discussion here, I apologize for any feeling of being brushed off as a freeloader. The forum has been "ddosed" by a guy named yuriygeorge and I think people are responding to you as if you are his clone.

Anyway, extensibility!

OK, so we know BTC can do payments, like paypal, just slower but without worry about transactions being reversed. Some like this others don't. Regardless if you want to change anything about bitcoin, well it is easier to just make it a new coin and that is exactly what has happened, litecoin, namecoin, 100+ others.

None of these coins can coexist with each other at the protocol level. Meaning they need different server daemons, different wallets, etc. Let's ignore the wasteful mining aspect, that is not what you asked. So I hope that explains how BTC is not extensible. Changing BTC creates a new altcoin. Now the more technical of you will probably point out that it is possible to update bitcoind globally and get new features added to bitcoin. To them I say, show me how you can get all the miners to agree to this short of a catastrophic bug.

Clear enough on BTC's shortcomings in this area?

Now for NXT, when it first was released, it had the payment ability. Faster than bitcoin so better, but essentially the same functionality.

In less than a month namecoin functionality was added. This immediately boosted market prices for NXT to around namecoin market cap. This is not simply because namecoin functionality is so good, it is because it showed the ability of NXT to do an update and gain a new functionality. Let's see any other altcoin or bitcoin do that.

the other thing it did was make clear that if there is a service, people will use it and spend NXT like drunken sailors. All the transaction fees then get distributed randomly to the lucky lottery winner of that block (approx minute). While the big NXT holders tend to win most lotteries, even very small holders eventually get some and this redistributes NXT, it also makes it a built in dividend reinvestment program, and makes NXT the only crypto that has a positive yield.

James

I disagree with your assesment.
Criticism is good. There is nothing wrong with that.

Misrepresenting facts is not good. And saying that an IPO where investors get profit is "not fair" isn't really a useful statement.

What ís useful is constructive ideas about how to get those coins moving. As stated before: the founders are in a lock, too.
Market volume isn't big enough for them to bring all their coins to the market at the moment. The market would collapse and that isn't good for anyone.

Some people have suggested ways to do this. Most suggested "give it away".
Fair enough, that's a valid suggestion.

Some proposed a charity fund. Also constructive.

My point is that it's a good idea to distinguish between people shouting "not fair!" and then not adding any constructive idea (which leads to the impression they just want a piece of the pie too and and are in NO way interested in the NXT as a new currency, AT ALL) and people who raise valid concers that have something to do with the viability of NXT.

Page 1 very first post:


Should be the fifth anniversary, right?

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

You say NXT is extensible, BTC is not. And how is that? Is that because of the fact that it is a PoS system? Why would BTC be less extensible? I do not understand.

Hi James,

I was thinking of putting together an investment pitch document. I can trawl through your posts and compile them with my material. Once I have the initial batch together I can put it up on Github or something so that others can contribute/edit the document. I should have a bit of momentum going on this within the next 48 hours. Enjoy your vacation.

Regards,
Al

i'm tryin'

trl55238,

thanks for your kind words

I am only me, only so much I can do

however there are thousands here, thousands

I want to encourage everyone to copy my posts or their contents or just the spirit and spread the message far and wide. It is critical that whenever we find a public statement that spins NXT like yuri does that we counter with powerful statements, backed by truth. A statement that is not countered is like a server node that goes offline that we don't put back online.

If we all sent out the same powerful message, within weeks, we will own that spot on the ladder in people's minds.

I want to create an investors relation page. Not sure where the best place to put that will be.

I am leaning toward using a slogan like "NXT is for intelligent investors", with the implied "BTC is for speculators" The investor relations page will back up our slogan. 5 simple words that speak the truth.

It also ties in to the book that Buffett's teacher Benjamin Graham wrote. I forgot that detail the other day. The Intelligent Investor is the reference book for value investors, so in the investor community "NXT is for intelligent investors" communicates very clearly what we are trying to do.

As people will try to disprove that NXT is for intelligent investors, they will get involved in fact finding that will contradict their initial skepticism. This is because NXT will transform the world economy from govt fiat fiefdoms to a unified global NXTconomy. The potential is to capture a meaningful percentage of global GDP within NXTconomy. Some of my high end valuation scenarios are just too crazy big to post, people will think I am some crazy lunatic. For now I am sticking with 0.01 BTC target. Underpromise, overdeliver.

Do you want to be an intelligent investor? Buy NXT.

James

P.S. Does someone have the time to cut and paste and edit all my posts into a handy reference page that everyone can use to combat the rhetoric against NXT? I am actually on vacation now.

U r the 1st who implemented this feature, so u decide. Just make sure it's not reserved in URI standard. Ur decision will change the future.

hi, i'm yueye000. Sorry made that mistake, how about "acc:5693933960808456307" ?

Well put, sir! I'm glad to know that somebody here is able to address our community's detractors in such an effective and positive way. Please pleaaassse keep up the good work and spread your message far and wide. We definitely need as much of this as we can get.

PLEASE JOIN NEXTCOIN.ORG AND VOTE HERE FOR THE NEXT-LOGO!

You don't suppose a new video with new numbers should be made after each 1% is withdrawn or deposited back to the exchange just to respond to the critics, do you? I just bought some NXTs today at dgex, while the price has gone down a bit, feels like a bargain to me. I believe it'll be higher a week from now. That's all I need to know, and not care about some stakeholders not giving away for free. It's capitalism, dudes, life is unfair and all that usual crap you so don't like to hear told to you. So just stop whining and buy or go away to dogecoin. Not to anyone in particular, but to all whiners in general.

@ Ricky

Why does it matter ....many buyers want to keep it there rather than withdraw it....so yes it did change hands...even though we can't really tell.


Edit: Better measurement would be total deposits....no one deposits to Dgex just for safe keeping.