There are allegations that each time NXT shows a possibility of rebounding, some whale or dolphin dumps it back down. Not exactly the best status quo for convincing people to buy more of it. How can someone invest into NXT (emotionally and financially) when it is evident that some of the biggest holders of NXT do not support their own project and see it as a lottery winning that has to be cashed out?
Although I don't really think that is NXT's biggest skeleton in the closet, the big whales / initial distribution. Or even the 4chan characters that hang around the NXT forums. The biggest skeleton, although it feels like long ago, was that whole Justabit thing.
In all honesty it looks like NXT was really a pump and dump by Justabit who lied about NXT being added to CoinBase. The reason that is still relevant was because Justabit had a history of similar behavior elsewhere and nobody did a background check on him and the info about him being a scumbag was pretty accessible on Google too. Reputation of incompetency, like failing to screen people who assume leadership roles (such as when Justabit became the public face of NXT), doesn't make any would-be investors feel confident about NXT's leadership. I don't think James' half completed projects that resemble ponzi schemes instill any confidence on any serious investor either.
Topic: The risk of NXT - page 2. (Read 1703 times)
Let's go back to BEFORE the big Bitcoin spike to $1,200 last May-June:
Sorry, but I am a stickler for detail
Last May-Jun 2014 wasn't the $1200 spike (you gotta click 'all' on CMC to see it was Nov 2013).
Right, that chart only shows the 600+ peak last summer, not the Nov 2013 peak.
Let's go back to BEFORE the big Bitcoin spike to $1,200 last May-June:
Sorry, but I am a stickler for detail
Last May-Jun 2014 wasn't the $1200 spike (you gotta click 'all' on CMC to see it was Nov 2013).
Too few people hold too many tokens.
So the whales can easily control the price and can dump it to crash its price! The dev has so many projects under developing. So any failure could trigger losing confidence from investors!Maybe you should be buying General Electric bonds. Ultra-speculative crypto is not for you, man.
Enough of the NXT FUD orgy... let's look at BTC versus NXT the last year...
Let's go back to BEFORE the big Bitcoin spike to $1,200 last May-June:
BTC April 2014 to April 2015: $440 to $225 = -49%
NXTApril 2014 to April 2015: 0.00005 to 0.00004 = -20%
STAY AWAY FROM BITCOIN... IT'S EXTREMELY RISKY !!11!!!1!
Too few people hold too many tokens.
So the whales can easily control the price and can dump it to crash its price! The dev has so many projects under developing. So any failure could trigger losing confidence from investors! The profit of IPO of NXT is great while the risk come with this. Who can ensure its success? Afterall, the code are written by Java. Though there are many functions which will be realize as said on whitepaper,it is still uncertain that if it can be recognized by others. Though new coins were not so many as now, the number is not small, so hard to avoid good and evil mixed up. Who knows that if NXT is a fraud.
The risk is apparently, every coin have their risk, even bitcoin has their own risk.The point is to compare other coins, nxts Dev truly doing a lot of great job, that make them have the great chance to success.
Too few people hold too many tokens.
Yeah, not like dollars, or BTC or Litecoin or Ripple.....let's face it, guys, the distribution argument just doesn't make sense any more.
All you need to do is look at the sheer amount of hard work that's gone into Nxt over the last 18 months, and the technology that that work has created.
NXT works well, and is going to continue being an important player in crypto over the following years, so don't avoid it just because other people own more than you.
The profit of IPO of NXT is great while the risk come with this. Who can ensure its success? Afterall, the code are written by Java. Though there are many functions which will be realize as said on whitepaper,it is still uncertain that if it can be recognized by others. Though new coins were not so many as now, the number is not small, so hard to avoid good and evil mixed up. Who knows that if NXT is a fraud.
According to my previous experience when coin developers making a big hype and promising fantastic features but they fail to deliver those things, that's a scam, or incompetence in best case. When coin developers doing their job and they keep developing and delivering new features, fixes and addons that's usually not a scam. In the case of NXT we can say that the community keep developing and delivering stuff and as per today technologically NTX is one of the best coins.
The profit of IPO of NXT is great while the risk come with this. Who can ensure its success? Afterall, the code are written by Java. Though there are many functions which will be realize as said on whitepaper,it is still uncertain that if it can be recognized by others. Though new coins were not so many as now, the number is not small, so hard to avoid good and evil mixed up. Who knows that if NXT is a fraud.
Yes, all the technology is there but still very few people seem to believe it. I didn't believe it at first either back in late 2013/early 2014.
It's certainly not a fraud though, as NXT technology is reality, not promises.
Too few people hold too many tokens.
Why do you say that? I don't see any evidence of that. There are a a few people who seem to hold a few percent each, but from what I can tell the distribution has worked out to be pretty decent. Especially when compared to other alts. And considering Satoshi's million, even more so.
Too few people hold too many tokens.
The profit of IPO of NXT is great while the risk come with this. Who can ensure its success? Afterall, the code are written by Java. Though there are many functions which will be realize as said on whitepaper,it is still uncertain that if it can be recognized by others. Though new coins were not so many as now, the number is not small, so hard to avoid good and evil mixed up. Who knows that if NXT is a fraud.
So you can doubt no longer and go public with your doubts so we can confirm them?
No, NXT is not a scam.
The profit of IPO of NXT is great while the risk come with this. Who can ensure its success? Afterall, the code are written by Java. Though there are many functions which will be realize as said on whitepaper,it is still uncertain that if it can be recognized by others. Though new coins were not so many as now, the number is not small, so hard to avoid good and evil mixed up. Who knows that if NXT is a fraud.
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