Overstock.com CEO interested in NXT asset exchange! - page 2.

Macseem

newbie

Activity: 22

Merit: 0

Quote from: evanxxx on May 05, 2014, 01:55:27 AM

Quote from: Eadeqa on May 04, 2014, 01:18:30 PM

Go buy 5% of nxt (will cost you 1 million dollars -- if prices don't go up while you are buying that many nxt) then come back here showing the "attack". If you succeed, the prices will drop and you will lose your 1 million dollar investment. That's the problem with these "what if" scenarios. They are not practical. People who have that much at stake have an incentive to protect the network without any shenagginings. It's in their own best interest to protect the network. That's why it's called proof of stake.

One cannot attack Nxt that way even if he is unreasonable and do not care about the money.

Perfect crime. Spend several billion dollars, buy 90% of all coins and try to destory the currency. Maybe in ThePurplePlanet's Universe it sounds normal. Or maybe he should just take care of his mental health a little better.

evanxxx

full member

Activity: 126

Merit: 100

Quote from: Eadeqa on May 04, 2014, 01:18:30 PM

Go buy 5% of nxt (will cost you 1 million dollars -- if prices don't go up while you are buying that many nxt) then come back here showing the "attack". If you succeed, the prices will drop and you will lose your 1 million dollar investment. That's the problem with these "what if" scenarios. They are not practical. People who have that much at stake have an incentive to protect the network without any shenagginings. It's in their own best interest to protect the network. That's why it's called proof of stake.

One cannot attack Nxt that way even if he is unreasonable and do not care about the money.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: ninjenten on May 04, 2014, 10:12:47 PM

Vertcoin has been saying PoS is not secure... but i think it all depends on what if .... PoW is not secure if there are too few miners.

He don't know what he was talking about.

ninjenten

newbie

Activity: 34

Merit: 0

Vertcoin has been saying PoS is not secure... but i think it all depends on what if .... PoW is not secure if there are too few miners.

Eadeqa

hero member

Activity: 644

Merit: 500

Quote from: ThePurplePlanet on May 04, 2014, 06:22:42 AM

Quote from: Eadeqa on May 04, 2014, 03:25:58 AM

Quote from: ThePurplePlanet on May 04, 2014, 12:06:36 AM

Quote from: solarion on May 03, 2014, 05:14:23 PM

Quote from: ThePurplePlanet on May 03, 2014, 07:20:04 AM

There are 3 already http://chromawallet.com/ http://www.mastercoin.org/ https://www.counterparty.co/ with stocks and securities issued.

NXT is the biggest hyped joke of all. Low quality code. Very insecure and this guy http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 mined 23298 out of total 127960 blocks. Cryptos used to be about decentralization and now people buy whatever. Cryptos centralized, checkpointing etc. Nobody is thinking anymore This is a complete joke premined public ledger luring noobs. Dont forget that majority of coins are cornered. (71 individuals bought the entire stake for 21 btc)

Agreed. Nxt is a step backward.

Still the NXT fanbois didnt answer the most important security question regarding security. if I own a bunch of coins split them into many accounts I will wait until I get a sequence of 10 blocks and doublespend.

Pure fantasy. There is no way you are going to get 10 blocks in a row without spending millions of dollars on buying nxt (perhaps billions of dollars since prices will increase if someone is buying that many nxt ) If we are playing these "what if" games, then what if I buy 90% of mining rigs -- then I will control all the bitcoins and double spend all I want,

Yeah, right.

Come back once you have 90% of Nxt, then I will take your "what ifs" more seriously.

You fail to comprehend the point. You can pull an attack miultiple times even with 5%. In fact you can even pull an attack with any number of coins given enough time with NO cost for the attacker, unlike PoW is the point you dont comprehend.

This account has 5% of NXT and forged http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 23390 of 128719 blocks. He can split the account into multiple blocks and get very often many blocks in a row. I dont know why you cant see it.

If he splits the accounts (with each account having less nxt than one account with larger amount), he is going to forge less than what he is doing now. There was already statistical analysis on that in larger thread. If someone has link, post it please.

No, your argument is flawed. You can NOT forge more with exact same amount of total nxt if you split them. You have better chances of forging more blocks if all your nxt is in one forging account.

Go buy 5% of nxt (will cost you 1 million dollars -- if prices don't go up while you are buying that many nxt) then come back here showing the "attack". If you succeed, the prices will drop and you will lose your 1 million dollar investment. That's the problem with these "what if" scenarios. They are not practical. People who have that much at stake have an incentive to protect the network without any shenagginings. It's in their own best interest to protect the network. That's why it's called proof of stake.

Ezravdb

hero member

Activity: 1680

Merit: 506

Trphy.io

Quote from: solarion on May 04, 2014, 10:00:44 AM

Looks like it hit cryptsy on March 2 and is in a sustained downtrend ever since. There's not even any PoS available to partially make up some of those losses. An investor could have purchased HBN on the same day at 17.5k and have significant gains at this point PLUS lots of stake interest.

We are not in control of the price dude

I am not worried about the future of NXT and I don't put money in it that I cannot afford to lose

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: solarion on May 04, 2014, 10:00:44 AM

Looks like it hit cryptsy on March 2 and is in a sustained downtrend ever since. There's not even any PoS available to partially make up some of those losses.

Yes. It's more or less been on a sustained downtrend since it hit Cryptsy on March 2nd.

That's not a problem in itself. The question is how do you account for it ?

I've accounted for it and I'm buying Wink

solarion

hero member

Activity: 966

Merit: 513

Looks like it hit cryptsy on March 2 and is in a sustained downtrend ever since. There's not even any PoS available to partially make up some of those losses. An investor could have purchased HBN on the same day at 17.5k and have significant gains at this point PLUS lots of stake interest.

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: solarion on May 04, 2014, 09:33:17 AM

Odd. I'm looking at a cryptsy chart now that indicates it began at 9000 on or near it's first day of trading and it's never gotten back to those levels. It was falling faster then it is currently prior to the small bump in March. Perhaps that's what you're referring to?

It didn't trade on Cryptsy until mid March and at that point had just hit one of it's highs because of the launch of the new "Offspring" client wallet.

Prior to that it had traded at lows of 3000 Sats and even 1000 going back to December.

Furthermore, you might have had a point if the price declines had reflected fundamentals in the project, but they do not. They reflect the increase in liquidity that's now available at the lower levels which has allowed early holders to realise much of their holding which they were unable to do before. This is in fact major progress believe it or not since it's getting the currency "out there" in larger amounts and mitigates the "distribution problem" which NXT bashers never fail to remind people of.

I think that even if the price dropped another couple of thousand sats, it wouldn't affect many of the holders since they're more interested in product development than price speculation at the moment and that is more than meeting expectations right now.

solarion

hero member

Activity: 966

Merit: 513

Odd. I'm looking at a cryptsy chart now that indicates it began at 9000 on or near it's first day of trading and it's never gotten back to those levels. It was falling faster then it is currently prior to the small bump in March. Perhaps that's what you're referring to?

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: solarion on May 04, 2014, 08:25:33 AM

On what do you base that assessment? All the stake he's going to get?(nope) The exchange rate has done nothing but fall, what's going to change that?

That's not remotely correct.

The exchange rate started in the low thousand satoshis. Since then it's oscillated between 3000 and 12000 satoshis depending on fundamentals - i.e. whenever there's been a new phase announced in the NXT technology network then the price has gone up.

We are approaching just such a phase now, so the price has started to rise and the market depth has turned around to the upside.

That's what I base my statement on.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: solarion on May 04, 2014, 08:25:33 AM

Quote from: toknormal on May 04, 2014, 07:36:04 AM

Quote from: solarion on May 04, 2014, 07:04:15 AM

So you have losses on next to date and you've doubled down? Are you sure you're dumping the right coin?

I don't know about what he's dumping but he's certainly buying the right one. (At the right time).

On what do you base that assessment? All the stake he's going to get?(nope) The exchange rate has done nothing but fall, what's going to change that?

Buy low, sell high. Buy when everybody sells and sell when everybody buys. If you don't understand it, you've got no future in trading.

Nxt, Btc, Ltc, Qrk and all other coins are very cheap atm, they're falling since January so it's the right time to buy. Especially for Nxt and Btc.

solarion

hero member

Activity: 966

Merit: 513

Quote from: toknormal on May 04, 2014, 07:36:04 AM

Quote from: solarion on May 04, 2014, 07:04:15 AM

So you have losses on next to date and you've doubled down? Are you sure you're dumping the right coin?

I don't know about what he's dumping but he's certainly buying the right one. (At the right time).

On what do you base that assessment? All the stake he's going to get?(nope) The exchange rate has done nothing but fall, what's going to change that?

toknormal

legendary

Activity: 3066

Merit: 1188

Quote from: solarion on May 04, 2014, 07:04:15 AM

So you have losses on next to date and you've doubled down? Are you sure you're dumping the right coin?

I don't know about what he's dumping but he's certainly buying the right one. (At the right time).

solarion

hero member

Activity: 966

Merit: 513

Quote from: Ezravdb on May 04, 2014, 06:51:58 AM

It's very cheap right now. I have doubled my Nxt investment with profits from shitcoins

So you have losses on next to date and you've doubled down? Are you sure you're dumping the right coin?

Ezravdb

hero member

Activity: 1680

Merit: 506

Trphy.io

It's very cheap right now. I have doubled my Nxt investment with profits from shitcoins

I really love the website http://nxtcommunity.org

You can clearly see which features are coming up and on which block time

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: ThePurplePlanet on May 04, 2014, 06:22:42 AM

You fail to comprehend the point. You can pull an attack miultiple times even with 5%. In fact you can even pull an attack with any number of coins given enough time with NO cost for the attacker, unlike PoW is the point you dont comprehend.

This account has 5% of NXT and forged http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 23390 of 128719 blocks. He can split the account into multiple blocks and get very often many blocks in a row. I dont know why you cant see it.

Also, it will be extremely easy to pull Bitpay payments type of attacks that accept btc instantly. You can easily reverse an instant transaction with one confirmation.

I m tired arguing with fanbois. You like NXT fine. Just dont tout it as something revolutionary or as secure as PoW. It is just a public ledger. Nothing more. I stop here. Have fun.

You forgot to take your pills?

ThePurplePlanet

full member

Activity: 144

Merit: 100

Quote from: Eadeqa on May 04, 2014, 03:25:58 AM

Quote from: ThePurplePlanet on May 04, 2014, 12:06:36 AM

Quote from: solarion on May 03, 2014, 05:14:23 PM

Quote from: ThePurplePlanet on May 03, 2014, 07:20:04 AM

There are 3 already http://chromawallet.com/ http://www.mastercoin.org/ https://www.counterparty.co/ with stocks and securities issued.

NXT is the biggest hyped joke of all. Low quality code. Very insecure and this guy http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 mined 23298 out of total 127960 blocks. Cryptos used to be about decentralization and now people buy whatever. Cryptos centralized, checkpointing etc. Nobody is thinking anymore This is a complete joke premined public ledger luring noobs. Dont forget that majority of coins are cornered. (71 individuals bought the entire stake for 21 btc)

Agreed. Nxt is a step backward.

Still the NXT fanbois didnt answer the most important security question regarding security. if I own a bunch of coins split them into many accounts I will wait until I get a sequence of 10 blocks and doublespend.

Pure fantasy. There is no way you are going to get 10 blocks in a row without spending millions of dollars on buying nxt (perhaps billions of dollars since prices will increase if someone is buying that many nxt ) If we are playing these "what if" games, then what if I buy 90% of mining rigs -- then I will control all the bitcoins and double spend all I want,

Yeah, right.

Come back once you have 90% of Nxt, then I will take your "what ifs" more seriously.

You fail to comprehend the point. You can pull an attack miultiple times even with 5%. In fact you can even pull an attack with any number of coins given enough time with NO cost for the attacker, unlike PoW is the point you dont comprehend.

This account has 5% of NXT and forged http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 23390 of 128719 blocks. He can split the account into multiple blocks and get very often many blocks in a row. I dont know why you cant see it.

Also, it will be extremely easy to pull Bitpay payments type of attacks that accept btc instantly. You can easily reverse an instant transaction with one confirmation.

I m tired arguing with fanbois. You like NXT fine. Just dont tout it as something revolutionary or as secure as PoW. It is just a public ledger. Not a solution to the byzantine generals problem. I stop here. Have fun.

ChuckOne

sr. member

Activity: 364

Merit: 250

☕ NXT-4BTE-8Y4K-CDS2-6TB82

Quote from: dzarmush on May 04, 2014, 05:11:27 AM

Someone said the creator of Btc actually has all of this coin as the thousands individuals are not real people...

SELL, PEOPLE!

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: pandher on May 04, 2014, 05:18:11 AM

Quote from: dzarmush on May 04, 2014, 05:11:27 AM

Quote from: Percy520 on May 04, 2014, 05:07:44 AM

Someone said the creator of NXT actually has all of this coin as the 71 individual were not real people...

Someone said the creator of Btc actually has all of this coin as the thousands individuals are not real people...

Fail argument, stupid member detected

Orly? So his bs is a solid point and my argument failed? Who is actually stupid then?

Topic: Overstock.com CEO interested in NXT asset exchange! - page 2. (Read 6742 times)