Topic: NXT/NEM or Monero/Bytecoin? - page 6. (Read 5164 times)

There are a ton of haters of NXT because of its distribution.  But hands down NXT is without a doubt the slickest thing in crypto right now and by far the best thing to come along since Bitcoin.  Ripple is up there too but is not a coin and is more of like a payment transfer system.  

Monero/Blackcoin/Cryptocoin are nice and are also better than bitcoin in many ways as far as what is under the hood, but won't do anything much that bitcoin can't do now or will be able to do in the future.  Right now some seriously well connected and intelligent hackers/developers are making "dark wallet" for bitcoin.  It is in alpha now and can be downloaded and played with.  When it comes out, it will give anonymity to bitcoin.  At that point people will have a choice, use Blackcoin for anonymity or Bitcoin.  One of these has a huge network, tons of connections and tons of end points for users.  One doesn't.  

Any bitcoin clone is a one trick pony.  Those clones often just add one feature.  If said feature is really important and people like it, it WILL be incorporated or hacked into bitcoin someway.  This is a very slow process.

NXT on the other hand has lots of features.  Right now it has aliases, leasing of NXT, fast block times that are meant to get much faster, messaging, an asset exchange and much more, and much more coming soon.  All that and in a nice package.  Right now it has high fees, but that should come down later.  Anything that any other coin can do, NXT can and probably will incorporate.  For bitcoin, it has to be a big deal for it to be added, but for NXT, everything can be added and is being added that people want.  One thing NXT can't add though, is a good narrative of how it started.  Many pros on this forum won't touch NXT despite it being leagues ahead of the rest.  

That is where NEM comes in.  Yes, it hasn't come out yet, and the first Alpha Alpha for testing won't be out until June 25, but it does have serious developers, as in as many as 8 working on it right now.  Not one dude like many of these other "privacy" coins.  NEM code is written from scratch too and unlike NXT is being tested and tested part by part so that it will be very easy to build on.  Devs regularly post their test outputs. On top of that, the NEM community has done everything very transparently and cleanly.  I am seriously putting my money on NEM, and when the big shots that constantly cry that they won't touch NXT because it wasn't "fair" look at NEM, what can they say?  Actually, with NEM having up to 3000 holders, I am thinking that many of the old timers crying foul about NXT slipped in and got a share of NEM themselves.  

For this reason, there are operating full anon exchanges on Hidden Services at the main two Dark Nets (I2P & TOR).
Probably there will be more of these services established, as the (full) coin-privacy-movement grows.

Good synthesis, this is more or less the point in my opinion too, although I believe that anonimity stuff could be implemeted in nxt systems too, anyways is good to have monero too in the case a fatal bug appears in nxt "same that could happens in BTC"

Botnets will always be an issue, if not cpu botnets, gpu farms, distribution will never be fair because fair is impossible, world isn't fair... I don't even think nem is fair, fair is become compensated proportionally to your work I think, I'm starting to think that for many people fair means obtain tons of money for have a beauty face...

So what I'm gathering from reading this thread is that:

Monero is a good solid coin with the best anonymity features and linear distribution curve. Seems to be a better version of bitcoin with the slight issue of potentially being dominated by botnets(although Satoshi didn't' think botnets would be a problem for bitcoin when it was cpu only).

NXT/NEM is the one with potentially groundbreaking features but it remains to be seen how it's used and how the public accepts this new style of distribution. If businesses and the public were educated on the potential benefits of using NXT it would have a good chance to make some real headway.

Interestingly enough it almost seems like if bitcoin were to decline/fade away that both these technologies might even be able to coexist successfully. Monero replaces bitcoin as the standard cryptocurrency for black market transactions, store of value, and general use. And NXT can capture the blue oceans of new markets and new uses for modern business and asset exchanges.

Using an exchange based off an email address/IP address breaks anonymity for most people anyways. There's a line where the level of anonymity provided by Monero can never really break .. without the "exchange" itself in your example providing its own end of anonymity .. what can be done? They're working on getting an I2P c++ router for use in the protocol to at least address some identity issues.

You still have the ability to find someone OTC if you're looking for anonymity .. no payment id needed.

I'm making the statement that Monero can never force you to be 100% anonymous 100% of the time .. you're given the choice to be anonymous and/or private with your transactions to the extent that you would like. It's not the be-all-end-all of anonymity/privacy .. but it's a big head start.

take a look at the pics of the nem wallet it looks 1000x better than any other wallet i have seen.

Plus, sending coins to an exchange with payment_id potentially breaks anonymity in one way.

Also, it's very annoying that I must generate a new wallet to create a new address.

Are you going to fix this miss?

So what? It's easy as hell to pump a coin if just 5-10-20 people have 99% of total supply.

Have a look here: http://coinmarketcap.com/

Nxt only.

NXT and NEM. The only 2 coins beside Bitcoin I take seriously.

In my opinion nxt and maybe NEM "will see, only air for the moment", nxt will always have the advantage of being the first and many features and projects running over it. The main advantage over monero and similars is that this "second gen" systems "more than a coin" are usufull for many things, monero, as well as bitcoin and their clones only for send money.
About the anynomos ongoing hype, I don't see it as anything important, is a feature which can be added in nxt, but not everyone will want to use it, if for example nxt comes mainstream and real companys use it, they could want transparency for the simple fact that if everyone start to hide their economy, the society as we know now can't work, who will pay taxes and everything?

I don't want to start with the distribition shit again... That stakeholders are the ones more interested in the good of nxt "if they use their brain" but if we have "more" initial stakeholders like in NEM could happen the same as in communitycoin "they gived the coins without any risk to (investors) and most of them will sell for quick profits because they don't care about crypto, they only care about $, in the other hand, in nxt, only the people who read about and risked their investment (because really seemed a scam) have their coins now", and the fact that if we move to a big scale "outside this forum" for the rest of people the distribution will be the same problem.

Show me


On the contrary, I believe, when people download the alpha client they will dump their stakes at an unimaginable speed, and that will be a good time to buy, maybe I'll start thinking of buying at the price of 3000 NXTs per stake, provided the alpha client is released of course, and is able to perform basic functions without major hickups.

No one cared about Community Coin.  It may as well been called "Communist Coin" or "Karl Marx Coin".  The coin itself is already red, so they'ld only have to change the name.

The reason Community Coin flopped is the following

- No innovation.  It was a generation 1.5 proof of stake, these are a dime a dozen right now.

- Developer is named after the coin.  Developer named after coin = scam (99% of the time).

- Distribution to 500 but no serious anti-sock puppet measures were introduced, beyond (initially) requiring a Facebook account.   Requiring a facebook account is a major breach of privacy for most people (embarrassing too) and then there are people, out there, who own a dozen FB accounts.  I shouldn't need to point this out but community coin started months after NEM and largely stole the distribution concept.


Whereas NEM

- Innovative.  Proof of Importance.  Second generation crypto.
- Known developers.  UtopianFuture, Gimre, Jagaur, et cetera, were all reputable names in the NxT community.
- Community is awesome and largely FUD free so far
- Distribution to 3000 stakeholders w/ taint analysis
- Ad infinite

NEM currently has a capitalization of $10 million in the prelaunch token trading.  This isn't an accident, the hype behind NEM is such that people are convinced it will probably be worth $40 million within a month or months of launch.  Possibly even rival Litecoin or Bitcoin but that's dependent on the coin being good, the community remaining free of FUD & scandal, the effectiveness of the swarm team, P2P advertising, et al.    

Waiting until open alpha to buy a token is perhaps a bad idea - when people play with the open alpha, and make their conclusion on it, there possibly wouldn't be any cheap stakes anymore.

NXT is the frontrunner (marketcap wise) to using the blockchain technology for more than just transferring money. This is distinct from most of the bitcoin clones that merely try to improve upon some aspect of money transfer, such as ease of use, anonymity, speed, better micro-transactions, etc.

NXT/NEM is in what we can crudely call the "Bitcoin 2.0" category, along with Mastercoin, Bitshares, Ethereum, Counterparty, eMunie and others.

For a good metaphor of this paradigm shift, consider Bitshares. The idea behind the name Bitshares is to view the coins as shares in a company. Seen in that way, we can understand the bitcoin protocol as a Distributed Autonomous Company (DAC) and coins as a shares in that company.

At any rate, this is the line of reasoning offered by Daniel Larimer.

I am sorry to rain on your parade, but:

a) there is a coin like that - CommunityCoin, distributed to 500 stakeholders equally, and it proved that distributing equally doesn't necessarily equate with innovation and adoption;

b) NEM has been nothing but hot air for a few months now, they haven't shown a single line of code, you got to be out of your mind to seriously expect something out of it. I'll take my words back as soon as I see their alpha wallet on June 25, and might even buy a stake in NEM, but of course not at the current ridiculous price with absolutely nothing backing that price.

Monero has mandatory stealth addressing and optional ring signature privacy. The application of ring signatures is unique to CryptoNote coins, and is novel applied cryptography using a well studied technique.

So, you can not tell how much wealth is concentrated in any one entity with Monero. You can also not tell where money is going or how much money is going there, or where it even came from. It is a coin that has privacy today, unlike DarkCoin, which has privacy (maybe) sometime in the promised future.

Additionally, Monero is set up with very high inflation for the first two years, so that everyone is welcome to get in on it cheaply at this time.

I'm not familiar with Monero.  I'm going with the assumption that it cannot compare with Nxt, in technical innovation.

Nxt, as mentioned, as has terrible distribution.  There may had been 73 original wallets but only 20 wallets invested the 1.5 BTC limit (this was before the November boom).  I'm going with a haunch, since it was such an obscure IPO without taint analysis, that those 20 wallets were probably only owned by 5 people with sockpuppet accounts.

IIRC - people who invested 1.5 BTC had received either 40 to 50 million NxT.  That means there are easily sockpuppet masters with close to $14 million USD in NxT.  These people will be billionaires if NxT rivals Bitcoin in capitalization (even wealthier than Satoshi).

Ethically - the last coin I would invest in would be NxT, you're contributing to some whale's get quick rich fund.




NxT did attract an amazing community but it all went down south after people realized how screwed up the distribution was  and the solution resulted in NEM, which is entering open Alpha by June 25.

NEM has been distributed to 3000 stakeholders and taint analysis was used to remove hundreds of sock puppets.  There may still be sockpuppets in NEM but, realistically, it's an unprecedented unparalleled distribution compared to every other coin in existence.

  Every coin is dominated by less than 50 real people (more often it's less than a dozen people, the developer and his friends).

 NEM is unprecedented and will launch with several thousand stakeholders.  Even if there are 200, 500 or 1000 sock puppets (unlikely due to anti-sock puppet measures), NEM still has thousands of real unique persons.  That is compared to the average crypto these days where a dozen or less people own everything.

There aren't any major ones, but there is stuff that needs to be cleaned up and fixed (like the database issue). The protocol is PoW, so security models similar to that of Bitcoin.

NXT is a scam. No matter how you do it, distributing coins via PoS is unfair and will always be unfair. Those who get in on the "IPO" are the ones who always come out richer.

I think of NXT not as a currency....but as a platform to trade currencies, like Ripple.

What sort of flaws have been discovered in the code for Monero?

I do know that NXT is mainly criticized for the initial distribution of it's coinbase. But if the technology is superior that doesn't mean that another coin based off NXT couldn't come along and solve that problem. If NXT's PoS system is superior to the CryptoNote PoW system that's vulnerable to botnets then that's a big plus for NXT.

Monero is maintained for anonymous transactions but it has some flaws in its code and other problems like being botnet raped.

NXT is the first pure PoS coin written from scratch. It brings asset exchange and some other features but suffers from unfair distribution.

Which one is better and how to compare them is up to you.