Topic: Poll result: NXT is a proper cryptocurrency - page 6. (Read 24859 times)

Agreed, day traders are akin to gamblers in my book. NxT should be fine regardless of initial distribution as long as the top 7-20 largest bagholders are independently wealthy and can be patient enough to allow adoption to slowly grow. The same concerns apply to bitcoin but with bitcoin we know many of the largest bagholders are indeed independently wealthy and can afford to save and invest in the long term success of the currency, the same cannot be said with many alts including NxT. Time will tell I suppose.

The larger concern is lack of merchant adoption and volume , but I understand that the gamble is betting on NXT being more of a financial platform than a currency.


That is an irrational assumption with no supporting facts. If 7-20 whales control most of NxTs supply they could have plenty more coins to offload continuously upon the exchanges. Time will tell whether the downward spiral of lack of volume and loss in market share and price will ever reverse. I am not going to speculate as to NxT's future as most these early investors are anonymous and I have no idea as to their current financial standing or stability.  One thing that is known since there doesn't exist inflation like other assets , you can see that Nxt investors are offloading their Nxt for other coins or Nxt assets(many of which are highly questionable in nature).

Ok let's not speculate, lets rely on data.

The last major NXT dump happened back in august 2014, when the price was over 11000 satoshi.

https://www.mynxt.info/charts/transaction_volume_per_day.php

So it's safe to say that we probably eliminated all weak hands and opportunists from NXT, and the current core investors are serious about holding it.



So stop FUD trolls, you are just making yourself look like morons. NXT is a stable currency now.

Right, but I was talking about traders, not investors. Maybe it's better to call them gamblers? They are more important for coin popularity than investors because provide liquidity.

It doesn't just involve ethics and morality but investment risk. The fact that "Satoshi" controls 500k to 1.2 million coins is definitely something to consider from an investment risk perspective and should cause a bit of alarm. Bitcoins distribution ratio is not as good as many fiat currencies at the moment and this should make many investors skeptical and concerned. These concerns should be much greater with many alts including NXT.

Wish the price would drop more though.

Yes, from moral point of view here indeed is some difference. But economy doesn't care about intentions of its participants. And traders don't care about history of an asset they trade.

It's one thing to have a person distributing all the coins to himself and then trying to convince you that the 70M+ marketcap you see in coinmarketcap is "fair" and it's slighlty different if he tries to make a distribution to 73 people sound fair (he has slightly more chances to convince you that the 70M+ marketcap is "fair")

So, the only problem I see is the posible intentions of the creator and friends, they created an illution of "free market" while they were just controlling the "supply" and consequently the price, they wanted to sell their "premined coins" at 20/50/70+ Million dollars marketcap and that's what they did. In my oppinion the real distribution of NXT started on the exchanges at manipulated prices.

What happened belongs in the past and the only questions I would ask myself are: if creator and friends did what is rumored they did, will they try to do something similar in the future? are those people still around? how can we be sure?

Having said that, I have also to say that there are probably a lot of people that work really hard in order to make NXT a success and have nothing to do with the above.

You are correct that the current distribution is far more important than initial distribution. Nxt most certainly grew in Distribution during its first year. Is there any evidence that this trend has continued and not reversed itself? I see some troubling signs of a dramatic dropoff in volume in 2015 and unlike BTC which has regulated exchanges/processors where we can monitor distribution growth with KYC verified accounts (I.E.   https://www.coinbase.com/about) there is not much to go on to reflect genuine distribution and adoption growth. Or is there?

I wouldn't call NXT a Scam, but I also wouldn't discount the concerns of distribution and adoption either.

static thinking. the intial distrubution was 23 months ago.

however, this distibution is an ongoing process, a fact that somehow eludes your attention.

very stupid argument.

but it will be fun to wait and watch how the market will decide.

Distribution is a never-ending process. Imagine that all 73 initial holders were friends of the coin creator. We can move zero point to the moment when they got their coins and started distributing them to the others. What does it change? Nothing. It's the same as if the creator makes distribution from 73 genesis accounts instead of 1. The only difference is "perception" problem of those whose IQ is not high enough to get all this. The topic of Nxt distribution is a good litmus test, it allows to distinguish between normal people and people with low intelligence if we has already removed trolls from the set.

The root of Gnosticism in every religion...we are all One...Love to All Hate to None...out '73' sects in Islam...only 1 sect follows the root path of Spiritualism Oneness

an initial distribution to less than 73 people

I'm really curious if there is another coin that managed to make an initial distribution to less than 73 people, I mean that if I was forced to distribute a coin to only 73 people, I would have really trouble trying to do so.

How did nxt accomplish this "feat"?

If we also take into account the "silly"1 btc "limit" we can be sure that the insiders sent btc from multiple wallets and this makes their numbers much much less than most people think and the supposedly 73 number!

Someone would expect a better way to distribute the coins... they didn't care?(for obvious reasons! control the price, pumb dump and profit!) or they didn't saw it coming?(I highly doubt it!) Was it so hard to forsee that this kind of "distribution" would seriously harm any legit coin?

"customers are stupid and should like what I tell them to like!!    "

/icedildo

Its not about me, its about others. What chance does monero have if you will have a permanent console client?

1 out of 10,000 people would prefer that. Sorry but people demand quality and design, and if monero cant give that, then too bad it will remain a nerd currency and never get mainstream.

NXT is far superior , it has elegant design + solid features!

Uhmm, I'd call it double negative influencer marketing.

And Ripple is listed no. 2 ? what does that tell ya LOL
You guys should have seen the backlash and flaming that heap of crap got when it launched..
sadly things changed now any scammy stunt is tolerated (or supported)

and that site ? is a scammy heap of BS !
I have already posted stories about that place..

I appreciate that NXT has some active dev work and support.. BUT
i don't like how it was launched (distribution wise)

I also think this topic poll settles the matter now doesn't it ? (3 to 1 say NO)

edit:
That top 10 list makes me cringe big time !
it's been bad like that for years now (which is why i quit trading)
..they are all crap except BTC / LTC and Peercoin

My reputation is the result of going against the mob and standing up for the truth regardless of its popularity.

It's an honor to be hated by the moochers and other witless victims of subjective mentation by association.

Try using what Gurdjieff called "mentation by form" instead, and you may be better to avoid the embarrassing assumptions and messenger-attacking of your earlier troll post.   

Yes, it seems I did fail. Sorry, but it's your reputation that makes others suspect that you are just trolling.