Topic: [WARNING] Nxt is a scam and I have PROOF - page 4. (Read 5154 times)

James' numbers back up his position that he thinks no one owns more than 10-15% of Nxt. You should try getting your own numbers and creating an arguement around them. James numbers go against your position.

I dont support Ripple, I only use it to move funds between exchanges. (I hold 2000 XRP for transactions fees, that is not even 1USD now, and so far in 1 and a half year of using it I didnt even use a single XRP so most likely I will never have to buy them again)

And XRP is not distributed yet. They only distributed 8,2% of all XRPs.

If you guys are getting hungry arguing, be sure to check out our pizza wall  

https://bitcointalksearch.org/topic/hungry-the-official-plankton-food-wall-716781

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

I told you where I get that number. From James's mouth. Of course, it could be he is lying

Was wondering how many posts it would take before Ripple was mentioned Anyhoo..

There are no 100% completely decentralised exchanges. There are centralised ones like Mt. Gox and almost decentralised MGW. Ripppe, as you know, is distributed.

The three Nxt MGW servers will be run by Nxt businesses that have vested interests in seeing Nxt succeed: one run by Jl777, one by Nxthuas (Nxt fiat exchange) and one by mynxt.info. If they ruin MGW, they also ruin their businesses. And each server will implement MGW in different ways so if you do manage to compromise one, you will have to find different flaws for the others.
 
And if you don't want to trust these three not to collude (better than just on dev of SharexCoin or the guys at Mt. Gox), you can run set up your own servers for your own coin using Universal Multigateway. So until a 100% decentralised exchange comes along, MGW is the most advanced as an almost decentralised exchange. In time the three servers could be expanded to 20 or 100 or 1000 and then it would be a matter of judgement when it becomes fully decentralised.


James concluded that he believed no more than 10-15% of all Nxt is controlled by any one person (that you TS and cryptonuat ignore) and his view is based on trawling through the blockchain. You have just made an assertion on a thread with no evidence that supports your case, only evidence that goes against it.


The competition was posted in public forums that were spread around to other threads, there was no secret you keep attempting to suggest. It was to raise awareness of the asset and the listing on Polo. Nothing sinister and nothing behind closed doors. It is all on the public forums.


Again, Ripple isn't decentralised and I assume you support Ripple due to it's excellent distribution?  

I would like to ask you to provide real numbers to support your "probably".
Where do you get the support for your assumption, as it is the linchpin of your argument.
As to this argument applied to Nxt, I have already answered this argument here a month ago: https://bitcointalksearch.org/topic/m.7923811
Never got a real answer there, by the way.

Everyone agrees that a network with too few people supporting it isn't safe, so let's not discuss that point. It's true and we all know it.
However, you imply that you have proof positive that this is the fact for most PoS currencies.

If you have this: post it. Post it here and if it's true, it would be quite major news.

"probably" or quoting statements that are presented in the original articles as "guesstimates' don't cut it.

How do you conclude from number of accounts to number of people, apart from being "pretty sure"?

Yes, I want to pump NAS lol

What is this about? Someone want to pump a NXT clone's price? You can't pump a NXT clone's price by smearing Nxt. It is your father.

Your logic seems to be off. My post meant that 75% of network is controled by a couple of people. That means security.

And regarding accounts, I am pretty sure that many large holders dont hold everything on 1 account.

Hi atoni

Your estimation seems to be off, please take a look at this chart: http://charts.nxtcrypto.org/cNoOfAwardedForgers.aspx

The 800 blocks that are forged daily in Nxt, are forged by 100+ different accounts.
Which means: There more than 100+ forging nodes, but not all of them forge a block every day.

So you say its almost decentralized.......its either decentralized or its not. Being that its stored on 3 computers most likely in same room seems very centralized to me. I am sure larger bitcoin exchanges run on more computers than that.

My proof for distribution is what James said in that article, that 250 million of nextcoin was released which means 75% is still held. I am very sure all bigger next holders (there are probably only a couple of them) know each other very well so James wasnt lying.

I was talking about scams in terms of market cap. If wind took out those scams as market cap he would get a lot different picture.

How is it not fake volume if he writes.....We need to get volume up there, I will pay 10k to person with most volume? (we have seen how the volume ended after his "promotion") Last time when it was on coinmarketcap it was at 87 USD volume.

Yes there is another decentralised exchange more succesful, Ripple, check the volumes that go on within Ripple network.

Hello again Atoni  

MGW isn't a centralised exchange, the software keeps the funds safe in small amounts in a large number of accounts. There isn't one account to hack so as long as you can run servers, you can run this almost decentralised exchange. And the code has been release with Universal Multigateway (uMGW) so any crypto community can run their own cluster of MGW servers.


Can anyone provide any proof for these claims about who holds what? The blockchain would be a good start. I think I asked you this last time *waits to be ignored again...  *


There are scams on the internet, do you blame the internet for these? Nxt AE is a platform. Each promoter of an asset has to convince the investors that they are legitimate, there is no central leadership in the Nxt Community. So there is no endorsement of any assets. Buyer beware, but you are right. There are a dozen or so excellent projects on there.

Re: the trading competition that jl777 ran for the launch of polo, you ignored my last reply.




There have been half a million Nxt traded on the AE in the last 24 hours (htttp://nxtreporting.com/assetcap.php), is there another decentralised exchange that is more successful?

Actually nextcoin asset exchange is very well marketed. people from community try very hard to spam each thread on this forum to inform everyone about it.

There is around 170 assets out of which 160 are scams. If you take this out of what you calculated what is current market cap of assets?

Not to mention that JL777Hodl paid people to pump up the price on poloniex so he can dump it on poor polo noobs.

Also, market cap of those assets means very little since there is no way to sell any of it because most of order books are almost empty.

IMO you will probably get rich sooner on POS then on POW currencies since there is no sell pressure from miners.

But bigger problem are all cryptos in total since bitcoin doesnt make too much fuzz in the world anymore so everything is falling.

It could very well mean we are at the end of crypto train. We will see

Problem with POS currencies is not the distribution per se, but the fact that probably 3-4 people control 75% of network as in POS your stake determines your importance to network.

Multigateway is not decentralized. Its held on 3 computers of Devs who never in their life run currency exchange. So its centralize amateur currency exchange.

Seems legit.

Here's a riddle for you:

320'000 people own falkland island pounds.
313 million people own US dollars.

Which one is better distributed?