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Topic: NXT :: descendant of Bitcoin - Updated Information - page 2445. (Read 2761629 times)

hero member
Activity: 739
Merit: 500
A good promotion and good use of stakeholder coin would be to pool some coin together, including any unclaimed coins, and announce that this will be distributed at some date between the miners/forgers, proportionaly to theoretical mining power. (Excluding the top x accounts.)
A promise like this would be a good incentive to get into Nxt. Get coins, run the client, etc.


How will u counteract the Sybil attack? People should give something valuable in exchange for NXTs, without this ur idea will be sybil-attacked.

But only if you give away the coins for every account equally. Or I am missing something?
My idea is a simple giveaway, based on previous Mining Ratio (as seen in blockchan explorer). Right now most blocks have no fee, but the block being mined anyway. So why not give something to people who bought coins, and mined with it early on? It's a much more just, and motivating giveaway than a "post your address topic".

It's possible I'm overlooking something obvious, if so, please tell me.

legendary
Activity: 1470
Merit: 1004
I hope the investors are right and that more coins will be distributed soon. I also hope, as one predicted, that the price will crash -100x so more people can buy (I know I'll buy more). But until then, right or wrong, they will have to defend themselves and NXT itself against the image problem of have so many coins in so few accounts. People are dumb and won't understand the difference between a premine and this, updated FAQ or not.

I can understand both sides here, and I'm willing to wait a while to see how things go. Maybe a slow adoption rate is better anyway (if a 113 page thread in 10 days is slow  Tongue ) . I invested my money because the idea is good. Hopefully more people are like me and see the potential, and aren't just interested in another alt coin pump and dump, and therefore stick around and contribute.

I hope the investors make the right decisions, NXT's future is in their hands currently.

The price won't crash.  I bought Nxt when the market cap was at $1M, and I thought that was extremely undervalued.  I think at the current market cap $15m, the Nxt coin is still way under valued.
sr. member
Activity: 266
Merit: 250
Compare the top accounts with top miners, you will find most of the top accounts are not holding coins sleeping, but they are mining for profit to get more coins.
Don't forget that they are also mining to secure the network. The number of transactions is still very low, so for somebody already having millions of Nxt the profit from mining is insignificant relative to his holdings.
Quote
They should giveaway some coins to the new comers, for example, if each of them take 10,000,000 Nxt for giveaway to 10000 users with each one 1000 coins.
This should cause the value of Nxt to plummet. Why buy something that can be obtained for free? And 1000 coins is too small of an amount to be useful for mining, so how exactly will that help those 10000 users? Most likely they will just forget about it after the novelty wears out. On the other hand, if they paid $10 for those 1000 Nxt (the current market value), they are more likely to get involved and use it.

If the top stakeholders are not selling, this is because they find the current price too low. It is a free market after all. If one is serious about investing in Nxt, one has to buy it.


Use it for what? The only use for altcoins is trading them or mining with them.
sr. member
Activity: 392
Merit: 250
Compare the top accounts with top miners, you will find most of the top accounts are not holding coins sleeping, but they are mining for profit to get more coins.
Don't forget that they are also mining to secure the network. The number of transactions is still very low, so for somebody already having millions of Nxt the profit from mining is insignificant relative to his holdings.
Quote
They should giveaway some coins to the new comers, for example, if each of them take 10,000,000 Nxt for giveaway to 10000 users with each one 1000 coins.
This should cause the value of Nxt to plummet. Why buy something that can be obtained for free? And 1000 coins is too small of an amount to be useful for mining, so how exactly will that help those 10000 users? Most likely they will just forget about it after the novelty wears out. On the other hand, if they paid $10 for those 1000 Nxt (the current market value), they are more likely to get involved and use it.

If the top stakeholders are not selling, this is because they find the current price too low. It is a free market after all. If one is serious about investing in Nxt, one has to buy it.
hero member
Activity: 724
Merit: 500
This is because the exchange is not automated. With some withdraw automation put in place much more people would be willing to sell.

Right! And many people would be willing to buy more actively too.

I would have no problem if dgex.com raised the withdrawal fee from 0.9 to 1.9% if it was either automated or max 2h withdraw delay. Waiting 48 hours for withdrawals is simply not acceptable for global usage.
legendary
Activity: 1498
Merit: 1000
Just a thought.

Should we launch the decentralized exchange now or wait when we get more coins distributed? I don't want Nxt to become an instrument for elite businessmen only, coz only rich ones could afford buying 1000 NXT to issue an asset, or 100 NXT to place/cancel 100 trade orders...
What exchange exactly? Currency exchange or marketplace?

Asset exchange. https://docs.google.com/document/d/1AnkP_cVZTCMLIzw4DvsW6M8Q2JC0lIzrTLuoWu2z1BE/edit?pli=1 , read "Nxt" instead of "Bitcoin".
Oh ok do it ASAP then!

Side question - is the developer cooperating with killerstorm at all? Because it will be a huge impact if BCNext and his team achieve this before colored coins and/or mastercoin do!

member
Activity: 98
Merit: 10
This is because the exchange is not automated. With some withdraw automation put in place much more people would be willing to sell.

Right! And many people would be willing to buy more actively too.
legendary
Activity: 2142
Merit: 1010
Newbie
Just a thought.

Should we launch the decentralized exchange now or wait when we get more coins distributed? I don't want Nxt to become an instrument for elite businessmen only, coz only rich ones could afford buying 1000 NXT to issue an asset, or 100 NXT to place/cancel 100 trade orders...
What exchange exactly? Currency exchange or marketplace?

Asset exchange. https://docs.google.com/document/d/1AnkP_cVZTCMLIzw4DvsW6M8Q2JC0lIzrTLuoWu2z1BE/edit?pli=1 , read "Nxt" instead of "Bitcoin".
legendary
Activity: 2142
Merit: 1010
Newbie
A good promotion and good use of stakeholder coin would be to pool some coin together, including any unclaimed coins, and announce that this will be distributed at some date between the miners/forgers, proportionaly to theoretical mining power. (Excluding the top x accounts.)
A promise like this would be a good incentive to get into Nxt. Get coins, run the client, etc.


How will u counteract the Sybil attack? People should give something valuable in exchange for NXTs, without this ur idea will be sybil-attacked.
hero member
Activity: 724
Merit: 500
After only few days of exchange existence:

Total Volume:    17391711.01 NXT (176.2652 BTC) http://dgex.com/trading.cgi

+ alot more traded on forums.

What is the problem?

That's 1% of the coins. That is, only about 1% of the coins have been redistributed on the exchange.

This is because the exchange is not automated. With some withdraw automation put in place much more people would be willing to sell.
legendary
Activity: 1498
Merit: 1000
Just a thought.

Should we launch the decentralized exchange now or wait when we get more coins distributed? I don't want Nxt to become an instrument for elite businessmen only, coz only rich ones could afford buying 1000 NXT to issue an asset, or 100 NXT to place/cancel 100 trade orders...
What exchange exactly? Currency exchange or marketplace?
hero member
Activity: 739
Merit: 500
A good promotion and good use of stakeholder coin would be to pool some coin together, including any unclaimed coins, and announce that this will be distributed at some date between the miners/forgers, proportionaly to theoretical mining power. (Excluding the top x accounts.)
A promise like this would be a good incentive to get into Nxt. Get coins, run the client, etc.
legendary
Activity: 1792
Merit: 1038
And YES, this is a 100% premined coin.
- you can name Nxt as you want.

But BCNext says:
I follow Satoshi's vision of the best currency.  Nxt gives a way to skip Bitcoin's inflation age and jump straight to the time when there is 21,000,000 coins. 
legendary
Activity: 2142
Merit: 1010
Newbie
W.r.t. the 300 days to mining a block.  It's hardly any different than bitcoin.

I'd like to say that BCNext is going to accept Cunicula's idea of coin mining (assigning id to each coin). Side-effect of this change is possibility of pooled mining without trusting to a pool owner.
full member
Activity: 207
Merit: 120
Depends, how ready is it? Are those asset and order values set in stone?

I would say half ready, coz I broke it when rewrote networking code. Assets and orders set by anyone who has a few nxts to pay a transaction fee.

Well its better to get the bugs worked out sooner rather than later I say. I am not familiar with the current priority list, but I say bump it up a priority level at least.
legendary
Activity: 2142
Merit: 1010
Newbie
Depends, how ready is it? Are those asset and order values set in stone?

I would say half ready, coz I broke it when rewrote networking code. Assets and orders set by anyone who has a few nxts to pay a transaction fee. (Asset issuance will require 1000 NXT though.)
member
Activity: 98
Merit: 10
R u serious? LOL! Manual withdrawals in decentralized system.

Oh I seriously would like to have automatic withdrawals, centralized or decentralized, that's the one point I am serious about Smiley I actually thought you were talking about another exchange site for NXT, not something built into the client.
legendary
Activity: 1232
Merit: 1001
 Now you can easily switсh beetween nxtalk.org and this topic using quick link in header. I'm absolutely sure that we should use bitcointalk.org as much as possible and not trying to create ghettos. Meanwhile, this website might store more structured information. I'll do my best to provide maximum for community members. Don't hesitate to participate - we are open, flexible and reasonable.

Quote
Problem is NXT are already worth too much. The top holders with 50 million are sitting on a theoretical 650 BTC according to dgex latest rate of 0.000013 BTC/NXT. Obviously the liquidity isn't there to actually get it, but still it will probably will make some of them balk at giving theirs away for free, even though its in their best interest to do so.

 I support your opinion. It may be a time bomb.

The free market will prevail and the coins will get sold on and redistributed.

W.r.t. the 300 days to mining a block.  It's hardly any different than bitcoin.  The only issue is that some top players need to spread out some of the wealth among newcomers.
full member
Activity: 207
Merit: 120
Just a thought.

Should we launch the decentralized exchange now or wait when we get more coins distributed? I don't want Nxt to become an instrument for elite businessmen only, coz only rich ones could afford buying 1000 NXT to issue an asset, or 100 NXT to place/cancel 100 trade orders...

Depends, how ready is it? Are those asset and order values set in stone?
legendary
Activity: 2142
Merit: 1010
Newbie
If withdrawals are fully automatic, please do it. Hate to wait 18 hours to get a withdrawal from dgex.com. If withdrawals are manual, then it's ok to have just dgex.com for now.

R u serious? LOL! Manual withdrawals in decentralized system.
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