Topic: Poll result: NXT is a proper cryptocurrency - page 4. (Read 24859 times)

It isn't going anywhere. Time was when it used to shuttle between 4000 and 8000 and there was easy money to make. I think the penny has dropped for some of the big holders and they are slowly exiting.

I only buy legal items with cryptocurrencies. My spending behavior is more than half btc and 100 % legal items. I have nothing against people buying drugs or prostitutes with crypto-currencies but that isn't what I'm into so its nice being able to use a currency for legal items.

Perhaps Nxt should have a purse or gyft equivalent so their users don't have to get hit with an exchange fee with every transaction?

The problem with aiming purely at merchant adoption is that almost no-one uses crypto-currency to buy legal stuff....just ask Overstock.

The Tennessee marketing campaign is going to be aimed at getting real (or at least non-scammy   ) businesses on to the Nxt blockchain.
These businesses can then concentrate on marketing their services (and indirectly Nxt) to their customers.
Simply marketing Nxt as Nxt to end-users directly makes little sense right now.

We've just helped to set up a mini-crypto economy on a small Greek island:
https://www.zapchain.com/a/l/islanders-of-agistri-test-pilot-the-drachmae-digital-ecosystem-and-digital-money-nautiluscoin/
And what did we learn : most people are not ready for full-on crypto use.
Drachmae even took the entire blockchain and client issue out, by using an SMS based transfer system, but even that was too complex for some people.

I'm not saying that we will never see widespread crypto adoption by the average Joe....but we have a long way to go, and I reckon that aiming at the business market is a better strategy right now.

Accurate generalization. (Of course its a generalization and doesn't represent all efforts) Look at the marketing of most of its proponents and most websites for NxT. I am simply discussing what is being represented and pitched.

Finding lists and directories of NxT asset scams is trivial and abundant. Finding comprehensive lists of real merchants accepting NxT is a difficult task indeed. I understand it is a difficult task to undertake... but NxT investors who own businesses could at least accept the coin as a show of solidarity. Are there are least 50 people in your community who own their own legitimate business? If not this is a troubling sign of lack of adoption.

I don't see much discussion of focusing on real merchant adoption within the tennessee-project-fundraiser. Appears to be akin to the creation of a "Bitcoin Foundation" or coincenter.org to pitch Nxt.... but perhaps in time they will rewrite their marketing material to focus on real merchants instead of crypto-equity scams. Just some marketing advice , take it or leave it.

Faulty generalization.
Keep in mind that it's a decentralized community


Anyway, the biggest Nxt marketing campaign does not really focus on what you are saying:
https://nxtforum.org/general-discussion/(marketing-business-and-development)-the-tennessee-project-fundraiser

Again i`m not the best person to ask that question. Ask the more senior NXT members that have invested already.

But everything comes down basically to trust. In the crypto "wild west" as where we are now, the most important thing is trust and good background. If that is in place then everything is ok.

Real companies dont offer any more protection than crypto ones, its just the illusion created by bureocracy. All it ever matters is trust.

I would be interested to hear of any NxT assets that represent shares in credible and legitimate businesses producing real goods or services with an existing client base.

There is an inescapable dilemma with pitching and investing in crypto-equities/assets. It is almost impossible to create legitimate ones as the legal costs are too high. Purchasing shares in a "company" without the right legal protections is extremely dangerous as there are no safeguards (technological or legal) in place to insure that your shares represent any real ownership in tangible assets of the company whether they are physical or intellectual.

Crypto-currencies can have intrinsic value because the community finds value in their usefulness and are incentivized to support the longterm development and stability of the coin. NxT and Counterparty(many more examples) make it easy to create assets/tokens where companies are incentivized to scam their victims and simply create another asset to repeat. The only way to avoid this is either with legal protections or remove the anonymity of the project maintainers and have real brick and mortar businesses behind these assets. 

Hey i`m not a part of NXT marketing team so I`m not the best person to complain to about NXT's marketing approach.

If you have a problem with NXT's marketing approach then talk to the marketing team lead by:
https://bitcointalksearch.org/user/damelon-199362

I personally think its a good way to highlight the best features of NXT, and yes some people want to invest in those assets, so why not focus on that?

If the investor does his due diligence then he wont be scammed.


I havent invested in any of those yet, but there are some good assets there that could be worth alot later on.

Not everything is a scam, so dont be so pessimistic about NXT.

Non-sequitur. I have repeatedly stated that bitcoin marketplace is filled with scams and fraud. Please address my concern with the marketing pitch the NxT community is driving at which is focused on using NxT as a financial platform to create these "crypto-assets" vs other approaches you can take which focus on merchant adoption with real businesses. At least Bitcoin has a large base of legitamant merchants that give a small sense of legitimacy to it.

Please explain to me why focusing on adopting real merchants that sell real goods and services is a bad approach?

Name 1 decentralized financial platform where people cannot be scammed.

I have repeatedly said otherwise and don't believe NxT is a scam in itself. This doesn't remove the concerns and risks of initial distribution which is plaguing NxT right now. The fact remains that some initial investors are dumping there practically unlimited bags on exchanges for over a year now. The initial distribution was so poor it insures there are enough large bagholders to do this for many years before they run out.

Poor initial distribution isn't a problem in itself as long as the early investors are independently wealthy and can reframe from sabotaging their own currency. This apparently isn't the case with NxT where some of the initial investors either have no faith in the currency longterm or cannot afford to hold onto their distribution during the initial years.


Merchant adoption is extremely important as it gives credibility and use for the currency. Using indirect tricks to spend your coins like shapeshift do nothing to support your currency as all the coins are dumped on the exchange for BTC and/or Fiat. It also doesn't help that the user is taking an exchange hit on all purchases when using these tools. There is also the PR problem involved where the cryptocurrency space is filled with scams, this problem isn't limited to NxT and also includes Bitcoin, but at least Bitcoin has a large pool of legitimate merchants.

The first step is to grow merchant and user acceptance. The second step is to have those merchants slowly start reusing the cryptocoin instead of dumping it 100% for Fiat and saving some.


This doesn't remove the fact that the NxT community is focused on marketing itself as a financial platform to invest in assets and equities instead of focusing on slow and sustained merchant acceptance where actual goods and services are sold and not scams.



Yes, but the approach and pitch isn't to grow merchants but to create a platform to facilitate competing tokens, assets, and equities. You guys are sabotaging yourself to line the pockets of those that are pitching these cryptoequities promising false dreams instead of focusing on slow and sustained growth with real businesses.

But you are inconsistent, and the same can be applied to the internet. First websites setup could have been scams, and there are still scam websites out there.

You cannot eliminate scams, they will always be there. People just need to fucking learn to do their research before investing. Otherwise they will be scammed every minute of their lives.

It's not my fault that people are gullible idiots, but i dont want my currency to get fucked just because people are gullible idiots, they should man-up and start researching.



NXT's marketplace and community is not that big yet so there is no reason why merchants should adopt it.

Create a magnet in NXT ,with the new innovations, I personally think gambling is the one needed, and people will join.

After the userbase is big, you will have merchants adopting it.


Its a 3 step process you cant just skip them.

...So either NxT has practically no new adoption and early investors are slowly dumping or NxT has steady
adoption and the early investors are dumping heavily. There is no escaping this fact...

true and both isn't optimal ofc but what i am missing here is a clear distinction between
initial adoption/usage problems and the objective potential nxt have compared to other platforms.

just saying nxt have a adoption problem due to it's initial distribution and therefore is a scam
makes no sense at all. ignoring and boykoting a provable good piece of cryptotech is very shortsighted
and counterproductive for the whole cryptomovement too.

this is one reason i am ranting in monthly intervalls, since beginning, to concentrate on the external market
and  stop trying to convince the cryptosphere to take an unbiased look to nxt, this won't work.*

nxt has everything to serve the external market and it is the only 'now available' crypto-swiss-knife able to
roll out many very usefull solutions, unfortunatly this doesn't happend in the past but this will change.

adding merchants doesn't solve anything, this is a tale.

*nxt perception within cryptosphere is to infested by historical grown envy, greed and misleading informations.

I'm not pumping or promoting those coins. Instead of worrying about other competing alts , why not focus on addressing the root problem?

IMHO ... NxT setting itself up as a financial platform where people can be scammed with crypto-equities and assets is a foolish plan which only benefits short term grifters. Associating with these questionable assets will leave a longterm stain upon NxT and is a marketing nightmare.

The key to NxT's success would be slow, organic growth and merchant and user acceptance by playing to its strengths with insuring that it grows steadily. NxT has a huge advantage over bitcoin with no inflation and extremely minimal security costs with PoS which may not be as secure but possibly might be "good enough". All it takes is the 20 top bagholders to stop dumping their coins and it would be trivial to have slow and sustained growth which would be more attractive than bitcoins volatile bubbles. Even with slow adoption this would be trivial to do because there is no inflation and PoW costs. Apparently some early investors don't agree or cannot afford to not dump their coins so NxT will continue to capitulate. This is where the risk of poor distribution comes into effect and what we are seeing now. Even if most of the early 20-73 investors held onto their coins all it takes is 1-3 of the top whales to ruin NxT by slowly dumping their stash leaving a lasting scar upon any new adopter.

Think about it this way... many late bitcoin adopters (last 2 years) are disappointing and discouraged that their investment has lost so much. NxT is capitulating against bitcoin during this time , meaning it has been in a free-fall against stable forms of fiat. At least with Bitcoin there is the halving to look forward to which will likely create a disinflationary bubble... with NxT there is no shortage of coins to dump from the initial investors... I would be pissed if I purchased any Nxt in the last couple years.

Yet. So how many merchants accept Bitshares, ETH or Ripple?


To be factual I use coingecko

https://www.coingecko.com/en/coins/nxt

It is still holding, I agree that there has been a slow in adoption lately, but that will change with the new Tenessee project, so just be patient and see, NXT will come back big!

Mining? I will give you the benefit of the doubt and assume you are aware that NxT is PoS and uses the term forging and you are attempting to make a distinction between  the 20-73 initial investors and "btc miners" that invested in later and are now dumping their coins.

This is an odd bit of reasoning as it assumes that secondary investors were able to purchase up enough coins from initial ones to be able to continuously dump them for extended period of time(over a year) to insure that the coin capitulated regardless of new adoption. Even if you were to make this unusual assumption who cares which group of investors are dumping as the bottom line is that there is continuous long term dumping occurring here and not short term manipulation.

So either NxT has practically no new adoption and early investors are slowly dumping or NxT has steady adoption and the early investors are dumping heavily. There is no escaping this fact.


Being that almost no merchant accepts NXT and those that do indirectly quickly dump them for BTC and Fiat the coins eventually are getting sold for other currencies ... even the forging interest.


I agree with CfB ... do you have any evidence to support this statement? I personally don't see NxT as obsolete tech (But neither do I make the assumption that it represents cutting edge "Crypto 2.0" either as those are just marketing buzzwords)

He is a troll

All crypto's have a boom & bust cycle, but he thinks NXT has to be so special that it wont have.

Well it does, and in my view, NXT is just about to break through again,and push to the moon

Is there anything that backs your words?

You are contradicting your own logic here 

In what sense?


Good. Here, have a Brownie point.