NXT :: descendant of Bitcoin - Updated Information - page 2446.

Vega

hero member

Activity: 739

Merit: 500

Quote from: Come-from-Beyond on December 05, 2013, 11:56:06 AM

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...

I think the real question is, can you get the stakeholders to distribute more coins?
If more coins to be distributed (especially from the so far idle accounts) in the next few days, weeks, then I think you should wait a bit with the exchange. If not, and there is no communication between the stakeholders, (or some simply not willing), then there is nothing really to wait for, launch the exchange.
IMHO.

laowai80

member

Activity: 98

Merit: 10

Quote from: Come-from-Beyond on December 05, 2013, 11:56:06 AM

Just a thought.

Should we launch the decentralized exchange now or wait when we get more coins distributed?

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.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: nomailing on December 05, 2013, 11:56:58 AM

This makes the coin equivalent to a pyramid scheme.

No. As long as it provides some services (e.g. decentralized DNS).

nomailing

full member

Activity: 126

Merit: 100

Quote from: plasticAiredale on December 05, 2013, 11:46:14 AM

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.

Exactly right. Unfortunately I missed the deadline to buy the premined coins. And YES, this is a 100% premined coin.
I really like the ideas of the coin, but the decision to include the whole money supply in the genesis block is very counter productive. This makes the coin equivalent to a pyramid scheme. Instead it should have a decreasing coin generation based on proof-of-burn-of bitcoins. This coin distribution should take place over a period of at least one year to make sure that it is well distributed.

Come-from-Beyond

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...

Kontakt

sr. member

Activity: 266

Merit: 250

Quote from: abctc on December 05, 2013, 11:48:47 AM

Quote from: plasticAiredale on December 05, 2013, 10:24:19 AM

CFB is making great progress with the client, the biggest issue for NXT is distributing the coins.

- wrong.
Imagine that right now all ~~stakeholders~~ interested in Nxt has equal amount of Nxt. And what? If transactions absent, then there isn't fee for miners.

We need infrastructure for Nxt.

Maybe someone (with programming skills) can make wrapper over Nxt's API to FSON-RPC ? That will help integrate Nxt to the existing bitcoin infrastructure, like exchanges and payment systems.

Right now, there are no fees and no mining. Increasing traffic is a good start, but it still goes right back to the big boys. To keep the currency alive, they need to ACTIVELY DISPERSE at least mining profits if not more, otherwise they will snowball into all the coin. If you own 51% of a POS network, you effectively own all the coins given time.

Kodoka

member

Activity: 63

Merit: 10

Quote from: plasticAiredale on December 05, 2013, 11:46:14 AM

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.

I would be sad if the price crashed, as I dumped pretty much all my existing crypto-currency into getting what I have now, but excited, as I would be able to increase my share holding.

abctc

legendary

Activity: 1792

Merit: 1038

Quote from: plasticAiredale on December 05, 2013, 10:24:19 AM

CFB is making great progress with the client, the biggest issue for NXT is distributing the coins.

- wrong.
Imagine that right now all ~~stakeholders~~ interested in Nxt has equal amount of Nxt. And what? If transactions absent, then there isn't fee for miners.

We need infrastructure for Nxt.

Maybe someone (with programming skills) can make wrapper over Nxt's API to FSON-RPC ? That will help integrate Nxt to the existing bitcoin infrastructure, like exchanges and payment systems.

plasticAiredale

full member

Activity: 207

Merit: 120

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.

NxtChoice

full member

Activity: 238

Merit: 100

Quote from: Drexme on December 05, 2013, 10:34:05 AM

anyone else think it's counter productive to horde your coins?
These top accounts should distributive their wealth some how...

http://87.230.14.1/nxt/nxt.cgi?action=30

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.

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. Wow, we will have more than 200,000 users in Nxt community. This is befinit to themselves from the long-term point of view.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: NxtChoice on December 05, 2013, 11:32:50 AM

Why will the blockchain shrunk each year?

That was an idea of BCNext. Actually, we (stakeholders) can do it each month or never.

NxtChoice

full member

Activity: 238

Merit: 100

Quote from: Come-from-Beyond on December 05, 2013, 10:28:27 AM

Quote from: NxtChoice on December 05, 2013, 08:53:48 AM

How about those *.nxt files? It seems that it always some backup files, what are they for? How will those files increase in the size, do you have any prediction depending on the number of tx?

Bak-files r created for a case when original files r corrupted. It's important that if u replace any file with its backed copy, then all other files must be replaced as well.

1440 blocks per day, 32 KiB limit for a block, it's 16 GiB per year. This seems to be the upper bound, coz the blockchain is supposed to be shrunk each year.

Thanks for your explanation on the backup file.

Why will the blockchain shrunk each year?

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: CoinBuzz on December 05, 2013, 10:56:47 AM

It would be better if 1Billion coins did not minted completely. Maybe around 100,000 of them minted in genesis block (for giving away and spread the coins) and the others mine with POS. In this regard because total number is small, people with small coins can mine too and involve themself in this project.

Ur idea is worse. Would u sell ur Bitcoin ASIC 2 years ago?

abctc

legendary

Activity: 1792

Merit: 1038

Quote from: laowai80 on December 05, 2013, 10:34:35 AM

Don't worry about distribution, it has only just started. The top holders will sell some of it eventually if the exchange rate keeps falling for some time, in the end the exchange rate will find a support level, even if it's 100x lower than the current rate. By that time the coins will be nicely distributed. The more important thing now is to build some infrastructure - fully automatic exchange would be nice, direct conversion to and from fiat would be nice.

- this.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: inkadnb on December 05, 2013, 10:52:42 AM

Pretty much the only stakeholder I've known and seen very actively spreading his distribution is bybitcoin. Not to mention, I'm 100% sure bybitcoin has already made a profit on his coins. So what's the risk? If you have 40 million, sell 20 million. That 20 million you sell is HELPING you. Hoarding it does nothing for you but kill this coin.

Well, I could sell 1M in small chunks. 10K to each BTT account with 50+ activity. PM me, if ur activity is less than 50 I'll ignore ur message. I prefer BTC-e USD codes, but to avoid possible fake accusations that someone sent me USD and didn't get NXT, I'll accept only BTC.

I'm not going to dump the price, so right now I would sell 10K for 0.15 BTC.

laowai80

member

Activity: 98

Merit: 10

Quote from: inkadnb on December 05, 2013, 11:15:48 AM

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

If you sum up all the bitcoins traded on all the exchanges, they only make 1-2% of the total supply, so what?

Just give it time, guys. Redistribution will happen, it's only been a few days. Free market will make sure the right price is discovered and coins are distributed according to how people value them.

Kodoka

member

Activity: 63

Merit: 10

Quote from: bizz on December 05, 2013, 11:11:49 AM

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?

Coins are moving, yes, but there are less than 600 accounts containing coins, and well over 50% of all the coins are held by a small fraction of those accounts. That isn't exactly an atmosphere conducive to making this coin successful. If even one of the top accounts started handing out 100 coins to everyone that posted asking for coins to get started, the popularity of the coin would soar, but instead only two of the top ten accounts have sent any coins out, and those have only sent out coins a few times.

bizz

hero member

Activity: 492

Merit: 500

Quote from: inkadnb on December 05, 2013, 11:15:48 AM

Quote from: bizz on December 05, 2013, 11:11:49 AM

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.

On one exchange that was almost unknown before it listed NXT. In only few days. Give it time.

BTW. When bitcoin came out almost all (few) people that were mining said it is pointless and just wasting time and CPU resources.

Noitev

hero member

Activity: 812

Merit: 505

The Last NXT Founder

Just noticed this:

http://coinmarketcap.com/

We're #11

Cheesy

nexern

hero member

Activity: 597

Merit: 500

Quote from: Kontakt on December 05, 2013, 11:06:26 AM

Quote from: klee on December 05, 2013, 10:56:58 AM

Quote from: inkadnb on December 05, 2013, 10:52:42 AM

It's simple, by hoarding coins you hurt yourself because the Nxt economy is static and worthless.

So stakeholders, by buying coins you made a commitment to use them, we all have a duty to make an impact. Stakeholders have the potential to make the biggest impact.

Pretty much the only stakeholder I've known and seen very actively spreading his distribution is bybitcoin. Not to mention, I'm 100% sure bybitcoin has already made a profit on his coins. So what's the risk? If you have 40 million, sell 20 million. That 20 million you sell is HELPING you. Hoarding it does nothing for you but kill this coin.

That's all I have to say.

How much do you believe investing in this coin? Prove it by buying - else move to another coin.
If you had read enough you would see that a lot of early adopters sale/redistribute their wealth with bounties/giveaways.
Satoshi did not distribute his 1M coins if I recollect correctly..more than 1/5 of total btc at the time!

I believe the system is sound, but I will not finance a coin that may fail because of its holders. How much do you believe in the coin? Do you believe that people will buy into it based on its own merit and not because they see a good chance of profit?

remember, this coin exits for only 10 days.
i am confident all major stakeholders will spread
coins as soon the system running smooth. many
users here doing a great job to make this happen,
nxt has potential, this is for sure.

Topic: NXT :: descendant of Bitcoin - Updated Information - page 2446. (Read 2761629 times)