Topic: Why is NXT not the number 2 coin? - page 11. (Read 16886 times)

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You're funny.

From a strategic perspective it may be a good idea to spread some investments around if you are just interesting in making money.  As I said before , profit is a secondary motivation for me. Nxt wouldn't IMHO be a wise investment however because you can expect bag holders selling off coins to exceed adoption, especially because there are so many "shiny new toys" coming out.

 IBM , samsung , Cisco, GE, Microsoft, Google, Amazon,Qualcomm ,  Skyworks Solutions are a few examples that are investing millions into their own future tokens. Additionally, expect some financial companies to roll out some new products and possibly a government coin or other black swan events.

NxT and other alts will look like jokes compared to what is going to be introduced. Bitcoin may be toppled but has a good chance of hanging on as a fringe collectors coin , or anarchist coin , or the defacto alt when one needs to launder money or buy illegal items through decentralized marketplaces. Yes, I am saying that right ... bitcoin may become an "alt".

Ok, then let's expand on these points:

Who are the large players? IBM and Samsung? Teaming up with Ethereum? 21 and Qualcomm. Who else? I want in on that too. So, which companies that are still in semi stealth mode? Which private companies do you have in mind?

My goal is to have a piece of it all, where possible.

Not many BTC ... and my Bitcoin savings makes less than 1% of my total assets. I am more interesting in Bitcoin for political and philosophical reasons than investment ones.


I'm citing facts, providing evidence, and qualifying my statements. One has to be careful when dealing with the murky world of pseudonymous blockchains and untested ideas.



I believe you are grossly underestimating the threats and competition in this marketspace. We haven;t even begun to see what a well oiled marketing machine from a large respected company or group of companies can do in the crypto currency space. There are already a consortium of technology companies hiring fintech devs and other technologists. They have the distribution channels , have the branding, and make the hardware.

Ok, let's leave it at that then...

We will watch the space and see what develops. I am interested in Ethereum as well, I am not here to protect any one pet project/coin. I think you are not appreciating just how much of an advantage NXT has at this point - you will appreciate this more as other projects try to launch and DO launch. There are many problems ahead for the entire space, it will be a pain to grow through this - staying alive and having code that doesn't blow up on you will be HUGE. NXT has shown that it is stable and functions as intended. As time passes, I think this will become a bigger and bigger deal.

How many BTC do you own and how significant is that to your total net worth? Can you just answer that so we can stop this conversation after seeing the real motive(s) behind your position?

As to your last point,

The "poor" Chinese who are setting up million dollar farms? Mining BTC is directly related to how much capital you have to invest in mining - any other positive factors in your favor will be down to luck related factors (cost of labor in your location, cost of electricity, etc).
I like BTC a lot, I bet on BTC as well, but I'm not afraid of other protocols. In the case of NXT, I welcome a protocol trying to do something worthwhile that can extend the crypto space and its utility.

Your problem is that you keep rambling on with "educated guesses" and "estimations"...
 

I don't own many bitcoins and only started investing in 2013, but of course I am biased towards Bitcoin. I mined Litecoin early on and was a supporter of litecoin/namecoin ... some other alts interest me like primecoin, curecoin, and ethereum. I am not a bitcoin maximalist or die hard PoW proponent. If you read my post history I have advocated for hybrid algo approaches of TaPoS/PoW.

The numbers I speak about do include coin market cap, but also include many other variables like search interest, traffic, and the fierce competition that is coming NxT's direction from other projects. I do agree that NxT has done nicely compared to most alts in such a short amount of time. This isn't going to be good enough when you have thousands of developers working on bitcoin and over 675 million in VC funding backing the development. This is an insurmountable problem Nxt and other cryptocurrencies are facing. I don't believe NXT is going anywhere any time soon, but will continue to slowly capitulate as it has over the last year. Expect some more corporate coins and ethereum to overtake the mindshare above Nxt in the coming 2 years or perhaps some govcoin being introduced. Alts are here to stay but are likely to remain fringe interests with small communities and many popping into existence overtaking older ones.  

Paycoin was one of the first corporate coins being foisted upon the ecosystem by a multimillion dollar company. This turned out to be a scamcoin , but imagine what happens when amazon/IBM/Microsoft/ect... release their coins? They are working on them right now and may even give bitcoin a run for its money and topple it from the top. Do you really think one of these companies will waste their time with buying up all the tokens off NxT bagholders when they can simply take Nxt's code , Bitcoin code, and build off it?

This is a fair criticism of Bitcoin but one that can possibly be overcome with solutions like the Lightning Protocol, ASIC appliances, and other algorithms being introduced to change the incentives. There some core developers who even think PoW should be migrated away from, others think a hybrid approach can be adopted, others believe that the laws of thermodynamics  and economics will naturally solve the mining centralization dilemma.


You are straw manning my position and I made such a claim. If I were to make an educated guess I would suggest that BCNext and a few other developers/partners decided to spread multiple investments across several accounts for multiple reasons. Protecting their privacy and insuring the best chance of success of their project they believed in. Humans can rationalize certain behaviors and believe they are doing the right thing at the same time.  Additionally, all it would take is one of the early partners /devs to create a bunch of shill investment accounts, who suggested it had to be BCNext ?


By wasting resources on hardware and electricity you can make it very difficult for a few people to corner the market. It is no longer just about who has the most capital to buy the hardware and electricity but who can develop the fastest chips, who can cool the chips the best, who can find the cheapest space , who can contract the best support staff to maintain the hardware, who can source the cheapest electricity(notice all those poor chinese mining Bitcoin... why isn't all mining centralized in the US where most early bitcoin users came from and all the money is located?)

Dying? Based on what? Coin market cap? The network is PoS and tokens change hands much slower than PoW, the network is secure and will remain secure even if things slow down even further. You seem to compare everything to BTC and only that - yes, BTC is ahead, but it doesn't and won't do all the things other platforms are going to do in the future. This won't be a zero sum game.  

You don't seem close enough to the NXT ecosystem to realize that things are happening outside of crypto and outside of the purview of this forum. For NXT, it is barely past year 1, calm yourself. The pace is extremely fast and impressive when you really think about it. Where are your "numbers proving death"

Sometimes I wonder, if you (and people like you) weren't invested in BTC and worried about your own investment, would you write the things you write? How much of this is pure self-defense?  

BTC would be great if it wasn't centralized and its security wasn't dominated by the mining conglomerates instead of the currency holders

This is completely ignoring my comments or the topic of the thread.

I haven't called NxT a scam coin. In fact I have been defending NxT for sometime claiming that it appears not to be a scamcoin based upon the dedication of a small team of developers.

What is undeniable is NXT is capitulating and dieing(Even compared to BTC crashing which has been drastic) . This can be proven by the numbers even if you add in all the assets to paint the most favorable outcome for the NxT ecosystem.

The ICO isn't the most important concern but is a real one that one should consider when investing in NxT and its future potential. Additionally , while Nxt does have much better development than many alts , it is pathetic compared to all the development from a software and hardware side in the Bitcoin ecosystem. Don't drink the marketing koolaid and compare the NxT wallet to Bitcoin QT. Bitcoin is much bigger than that with many projects and many hardware and software implementations..  

You are assuming that BCNext was a liar, cheater and thief.  Imo, from what I have read, inquired and experienced this was not the case.  I'd like anyone who believes otherwise to run a taint analysis on the NXT funding address.  I think it is pretty obvious that BCNext was an idealist and not out to make as much money as possible by scamming others because he limited donations to 21 BTC.

Your belief of mining being more "fair" than a crowdsale is imo not accurate.  With mining a currency, you are simply abstracting the crowdsale from the coin and sending your money to the hardware manufacturers and electricity providers.  That doesn't make it more "fair".  There will always be people with more money who can purchase more mining hardware and pay a larger electric bill.

I agree that it was unlikely that the shill accounts came from investors. If I created an alt with a couple partners I would have taken some of my own BTC and invested it across many shill accounts to make it appear that the distribution is greater than appeared. It is impossible to know an exact number. Minimum would be around 5 controlling over 50% stake and max 73. Our estimates of 5-9 is a very rough guess judging from initial blockchain distribution graphs (which were subsequently removed because they were far too granular. https://nxtblocks.info/#section/blockexplorer_distribution shows a rougher approximation with the highest category being between 1 million and a billion where a previous breakdown reflecting only a handfull accounts between the 10 million and billion. This data wasn't coming from Nxt "haters" but the NxT blockchain itself. Of course Nxt proponents will always claim that most of the initial coins have been sold off to new investors and distribution is much better now. The problem with this thinking is that there doesn't exist any evidence to support this and some good evidence to show that there hasn't been a rush of new investors into the Nxt Ecosystem.

You want some evidence. Look at the Nxt Forum.... keep in mind that someone investing in Nxt is far more likely to participate in Nxt forum than bitcoin because it is an obscure and niche alt where you really have to be involved to own some.

https://nxtforum.org/

Most Online Today: 134. Most Online Ever: 509 (August 15, 2014, 01:19:36 pm)

This includes shill accounts as well reflecting a very small community.

Allowing for the crappy punctuation, this makes a lot of sense. At the time of the initial Nxt ICO/IPO/distribution, no-one gave a rats bottom about BCNext and his silly Java project, so I'm pretty sure that no-one would have bothered making shill accounts to waste even more BTC by throwing it at Nxt.
It was only after Nxts launch and immediate success that people started to play the ICO game and it became seen as worthwhile to create multiple puppet accounts for every single IPO that came along.

And just how much adoption did Linux have 18 months after its launch, back in 1993/1994 ?
The answer is: pretty much f**k-all, apart from an annoyingly vocal group of open-source nerds who were claiming to have the best OS evah!
Sound familiar......?

Never forget, we are still a very, very long way from having a mature crypto-currency ecosystem and economy, so a lot of interesting stuff can (and will) happen over the next 5-10 years.

Links pls?


 

im betting on the platform... not the coin.

Why would there be new arguments when the same problems persist and are getting worse?


I like some of the improvements in POS security NxT has implemented with slowly migrating to a TaPoS mechanism. Ethereum has some neat ideas as well that look more promising than NxT. Really cool when we can start to roll some of these into a BTC wallet or protocol itself.

I'm not saying that at all!


Instead of stating in the threat title "why arent we number two" how about celebrating what accomplishments that NXT has done? Hence the measure of penis comment.

It has been a while inbitwetrust  too many people badmouthing btc again? 

No new arguments I see, shame. But I'll get my popcorn...