Topic: NXT vs. eMunie (Read 4593 times)

Yes, source code will be released in Jan. But I don't see how NxT hasn't technically launched yet? All NxT are issued to the founders and are already traded on an public exchange..

I've been interested in both because I view each as something new in crypto's.

The way I view things now, NXT seems to be more of an open alpha/beta, while eMunie seems to be more of a closed beta.

eMunie seems more sophisticated in comparison to NxT.

(Announcement of NxT on 28.sep) The announcement was mostly about how to get in on the sale. The idea of NxT was public only for 50 days when investment phase got to an unforeseen end. 7 days later NxT was launched, but without most of the interesting features that were announced. It seems like BCNext just wanted to get NxT out into the wild as fast as possible with the promise of coding and implementing the worthwhile features later on.

(Announcement of eMunie on 30.may) eMunie on the other hand, focused on spreading the idea behind it first. In june the beta phase started which was open to all interested users for a few months, giving them the possibility to help with development of eMunie. 6 months of  beta testing and fine tuning later the investing phase starts which will last till the end of Jan 2014. Thats over half a year in which the idea of eMunie could be contemplated by potential investors. In contrast to NxT, there will be worthwhile features(not all of course) implemented in eMunie at launch (e.g. decentralized exchange)

there is no such thing as " speculative attacks", rather its just proper price discovery for that period of time.

there are no such thing as speculator/non speculator. Everyone and no one speculates in every transaction.

OK you're right. The overall digital coin concept relies on mutual agreement on the value of the coins traded against each other between trading parties. Also we have to quote "there is no such thing as a digital coin, only transactions and a ledger upon which the whole ecosystem agrees "

I was originally referring to the genesis block of Nxt coin which leaded to an instant distribution of billions of coins to a couple of people in exchange for only 21 BTC in total. From day 1, the value of the coin raised continuously reaching to levels with a magnitude of 100000000000000 (ish) fold. The reasons of this rise is explained in my previous post(s) but to sum it up, this is purely a bubble case where gazillions of coins are resting in cold storage and only a fraction of it is traded. That's why 25 mll usd market cap of Nxt is misleading and acts as a perpetual medium driving more dummies to the scheme.

-There is a certain degree of lesson to be learned from NXT coin start-up. If you wish your coin to keep standing on the long run you have to decide if it will be a currency or an asset from the beginning. NXT is already labeled as a ponzy scheme by the public, since it has the exact attributes of it.
 
- As a currency, a coin has to be regulated to make it immune to speculative attacks. It needs a hedge instrumentation that will serve a dynamic and autonomus balancer to the coins value. Since digital coins are decentralized in nature, they have to be distributed among many individuals as possible during the startup phase reaching to such a critical mass that it will be adopted by more people each day.It is also important to avoid creating a questionable minority of a coin rich elite.

In case of bitcoin, the very notion of a digital decentralized coin was not in existence therefore btc took quiet a long time to get adopted by different levels of society, this lead to a homogenous distribution i believe.

And it's essential to start a launch with a decentralised exchange feature implemented in the coin. If it is achieved, the coin will be easily and rapidly distributed without causing price gaps and bubbles, even it will only provide an EMU/BTC pair at first.

Remember, EMUNIE will hopefully be the first truly anonymous coin that will rightfully earn a "2ND GEN" label. Also it has to be noted that OWNER OF THE PROJECT has every right to decide if this will be speculative ride or not. Anonymity will be a quantum leap in the digital coins realm and it will bring a magnificient even unheard of level of attention to the project, also unwanted attention from governing forces...


- Today so much more people are aware of highly speculative gain and loss potential in these emerging coins. Everyone's focused on them at this time. That's why i find it only rational to lock the gates at least for the beginning and distribute emunie as a closed source application. I hope there will be some other ways then open source code distro to ensure coin's reliability and strength without risking other forks in an early stage.

- For a newcoin to challenge the notorious btc, it has to provide unprecedented features among which above all comes truly anonymous transactions. No single coin yet to provide this feature , Nxt coin included.

coins are not backed by what people paid for them but by what people will pay for them.
and their utility

The only reason price going up is the artificial scarcity. Nxt stakeholders with their gazillons of coins are not selling yet. I firmly believe they are waiting for the demand to get higher and higher such that their initial investment would bring %10000000+ roi without a substantial negative effect on the free market price in the future.

How is this situation any different than other coins accused of being premined?

If Nxt coin is not serving a breakthrough technology such as being %100 anonymous,  then i see no reason to invest in a market with total cap value of 25 million USD as of today even though there is near zero liquidity, no knowledge of how much of the coins are still hiding in their cold storage and how much is traded repeatedly to artificially inflate volume levels .

This 1 billion coin are only backed by the initial 21 bitcoins (3000 usd?) stakeholders provided, everyone should remember.

POS concept is nothing new . The dark side of a  %100 POS implementation is that the genesis block containing gazillions of coins infinitely rewards stakeholder/project owners. In this case, NXt coiin 's  edge is being first to implement %100 POS system and marketing it as a fist example of 2nd Gen coins yet to come. These will not be sufficient to locate the coin somewhere near bitcoins prestige.
dont start me with ecological problems of waste energy and resources required for bitcoin and other habitats to survive, being POS and saving energy is not enough for the masses to embrace it.

POS is not a solution to the big problems of digital coins universe , its just a way of distribution. Their  code will have to stay closed source for along time or else some people with much more resources will provide a better version of it instantly. All these will just provide pump and dump instruments with many different names throughtout the road untill somebody comes with a solution to the single and most important problem at hand: Wiil there ever be a %100 anonymous coin?

1 billion nxt coins backed by just 21 bitcoins, RUFK? What a pyramide scheme....

The work Dan has put into eMunie is quite remarkable

Indeed I am aware of these "risks".

Someone has to aim for that target specifically though, as nothing at the moment really does, more of a half way house.

Even if eMunie doesn't succeed because of it, hopefully it will light a path that others can follow and avoid any pitfalls that get highlighted along the way

They can indeed, its just Pinarello causing un-needed friction.

I've already stated the only "gripe" I had with NxT which was management and nothing else.

You really are getting quite annoying now! After 2 days here you are!

Seeing as its almost Christmas, Ive worked to the bone this year and it is a weekend, perhaps I was having a day off?

It's been done.

Hasn't been a pleasure.

Technicality aside, Bitcoin escapes harder regulations from Western countries because it is what it is a certain hybrid between commodity, payment system and currency. By trying too hard to be just a currency, eMu has much larger risks from the government if it manages to succeed at all.   

question regarding to emunie, where's the money supply comes from? beta test mining? or the blockchain will be reset at official release, or it will be premined as nxt or ripple?

+1

There was a post on the bitcoin reddit today about GHash.io purposefully executing double spends...

Nxt and eMu are totally different on the economic front that I don't think they will interfere with each other, but could very well work together.  Most people won't like the slow investment return of eMu, but I think it's great and is a very usable and reliable currency model.

just wait till the first BTC flaw is exposed.  myybe a mining pool gets too big.  or whatever.  things will get REALLY interesting then

There are too much money and investment in BTC so it will not be easy to replace.
I think that delay isn't a big issue, as NXT at this moment just a working blockchain, but many of the most interesting features are still in beta\development. As I see the latest eMu beta is practically fully functional and most of the advanced features are ready to go. So both coins are in very similar state. BTW this two could work very well together.

If you build it...They will come.... I will say no more, wait and watch the magic happen in the next few years.

I think Nxt will replace BTC as virtual gold and eMu could be a great way to buy, sell, trade as a consistent value currency.  It will be interesting to see if the delay in eMu client release will have a detrimental effect on adoption, since Nxt really seem to be off and running at the moment.  I like both and hope both do well.