Bitcoin Forum

Bitcoin, Ethereum  and NXT from the shadow are my 3 picks.

I have been very critical of NXT. It hasn't started as a scam, the founders and early stage investors were at the right time and the right place, and after all the source and tech has been released and - due to its large supporter base-  it is a very promising project. My criticism mainly for the last 1 year, when the technology charlatan jl777, James, the simple C programmer and vaporware asset wizard basically took over the NXT landscape and dominates it with his Supernet nonsense. NXT could be a fantastic project with its large supporter and fan base, and in my opinion it would be a lot better without Supernet.

I have been very critical of NXT. It hasn't started as a scam, the founders and early stage investors were at the right time and the right place, and after all the source and tech has been released and - due to its large supporter base-  it is a very promising project. My criticism mainly for the last 1 year, when the technology charlatan jl777, James, the simple C programmer and vaporware asset wizard basically took over the NXT landscape and dominates it with his Supernet nonsense. NXT could be a fantastic project with its large supporter and fan base, and in my opinion it would be a lot better without Supernet.

I have been very critical of NXT. It hasn't started as a scam, the founders and early stage investors were at the right time and the right place, and after all the source and tech has been released and - due to its large supporter base-  it is a very promising project. My criticism mainly for the last 1 year, when the technology charlatan jl777, James, the simple C programmer and vaporware asset wizard basically took over the NXT landscape and dominates it with his Supernet nonsense. NXT could be a fantastic project with its large supporter and fan base, and in my opinion it would be a lot better without Supernet.

@BTCDDev @Este Nuno @barbierir

Yeah, yeah I hear all the time from the Supernet crew to check the source on Github. Actually, being probably three times longer in software than James I do understand where the fucking Github is and how to check it out without pushing that repo link into my face all the time. I am sure it is a news to the James support brigade, but apart from James others understand as well where to find the source code.
Anyway, from the moment he started to commit and based on what I could see in the repository from him I always said that James is a super talented guy, mainly terms of the amount of code he can deliver in a short period of time. The amount of work he can deliver is quite exceptional and indicates a special talent.

However, the issues you have just pointed out about the testing verifies (again) that I was always right about him,and that he is a charlatan and became a vaporware asset wizard with his money grabbing scam assets.

Here is a person James, so visionary that according to the cheerleaders he can transfer digital currencies into sliced breads, but
a) he prefer to to collect first 2 million US$ before he delivers anything, but he promise in the first quarter of 2015 Supernet will be done
b) your software genius star promised the first phase of development will be completed by February for Supernet and attached coins like Vericoin - of course he couldn't deliver (charlatan). When you delay 6 months on a project in which you collected 2 million US$ then you have a vaporware. In the meantime he is rolling out the scam assets (wizard)
b) more importantly, this genius fail to understand what we could rightly expect from a junior software engineer and junior project manager combo on a US$ 5K software development task that the software indeed must be tested and such software engineering task indeed requires some planning, which obviously he didn't do. That indicates how serious he is about the Internet of crypto vision and how capable he is to pull that out (charlatan). He is managing a multi million dollar software project, because he talked to crew into that "investment" in his project, he has obligation to deliver, but he just realised, oopppps, I need to test the software and I need help. The greatest organizer visionary of crypto who brought hundreds of developers to his project, did not think about testing which is as you said "not that easy". Come on guys, this is bollocks just like collecting 2 million US$ for that shit and selling his meaningless scammy assets.

I like and respect James in many ways because he is talented and smart, but I am telling you his money grabbing charlatanism will bring lots of trouble and disappointments to NXT which is - mainly due to the large support base - a quite special project.

Far from a charlatan! Do you follow the supernet slack? The code is there and it's real and he's not working alone. Nxt and the other coins involved will get a lot of from that project, "peggy" alone is going to rock the cryptocommunity and bridge it to real world use cases.

Yes, it's a scam. I don't like non-mineable coins, this is one of them. No proof of work, no value at all.

What is this "peggy"

did you know that it's possible to launch a mineable PoW monetary system (MS) coin that runs on top of the NXT platform? You need to open your mind and do more research, NXT is more than a coin, and your love of mineable coins is being catered for!

Why would I launch a mineable PoW monetary system (MS) coin that runs on top of the NXT platform when I already have Bitcoin? I'm very open minded and know Bitcoin's worth, thanks.

I'm currently working on a proposal for a 'school coin', distributed using PoW, with a fixed supply that's reached within 12 months. I also want to peg the value of the coin to 1 cent. This coin would be very useful in a small school community of ~500 students as a 'rewards' system, and I can make it using a NXT MS coin quite easily. AFAIK there isn't any other viable option open to me.

this is  non-mineable coins
and developer can create new coin every day

@BTCDDev @Este Nuno @barbierir

Yeah, yeah I hear all the time from the Supernet crew to check the source on Github. Actually, being probably three times longer in software than James I do understand where the fucking Github is and how to check it out without pushing that repo link into my face all the time. I am sure it is a news to the James support brigade, but apart from James others understand as well where to find the source code.
Anyway, from the moment he started to commit and based on what I could see in the repository from him I always said that James is a super talented guy, mainly terms of the amount of code he can deliver in a short period of time. The amount of work he can deliver is quite exceptional and indicates a special talent.

However, the issues you have just pointed out about the testing verifies (again) that I was always right about him,and that he is a charlatan and became a vaporware asset wizard with his money grabbing scam assets.

Here is a person James, so visionary that according to the cheerleaders he can transfer digital currencies into sliced breads, but
a) he prefer to to collect first 2 million US$ before he delivers anything, but he promise in the first quarter of 2015 Supernet will be done
b) your software genius star promised the first phase of development will be completed by February for Supernet and attached coins like Vericoin - of course he couldn't deliver (charlatan). When you delay 6 months on a project in which you collected 2 million US$ then you have a vaporware. In the meantime he is rolling out the scam assets (wizard)
b) more importantly, this genius fail to understand what we could rightly expect from a junior software engineer and junior project manager combo on a US$ 5K software development task that the software indeed must be tested and such software engineering task indeed requires some planning, which obviously he didn't do. That indicates how serious he is about the Internet of crypto vision and how capable he is to pull that out (charlatan). He is managing a multi million dollar software project, because he talked to crew into that "investment" in his project, he has obligation to deliver, but he just realised, oopppps, I need to test the software and I need help. The greatest organizer visionary of crypto who brought hundreds of developers to his project, did not think about testing which is as you said "not that easy". Come on guys, this is bollocks just like collecting 2 million US$ for that shit and selling his meaningless scammy assets.

I like and respect James in many ways because he is talented and smart, but I am telling you his money grabbing charlatanism will bring lots of trouble and disappointments to NXT which is - mainly due to the large support base - a quite special project.

but he just realised, oopppps, I need to test the software and I need help. The greatest organizer visionary of crypto who brought hundreds of developers to his project, did not think about testing which is as you said "not that easy"

Why would people use your coin instead of $ or BTC? How do you decide the value of your coin? Why would I pay real money to buy your new token?

May or may not be a scam but it's definitely OBSOLETE technology compared to Ethereum.

Oh my god here we go again. Ethereum fanatic numero uno is in the house. Heil Ethererum and all the rest is BS right?
Man you're sooo embarrassing. Right now Ethereum is not more than just pure bla bla bla. Deliver guys!! Deliver!!!
Then we can start talking.

May or may not be a scam but it's definitely OBSOLETE technology compared to Ethereum.

May or may not be a scam but it's definitely OBSOLETE technology compared to Ethereum.

The butthurt is real. No one wants to buy NXT because they can smell a rat.

Ethereum has a transparent and open team.  They have good communication and marketing too.  They give off a trustworthy vibe.  They also deliver on their promises.

What does NXT have outside of threads on bct?

One of the most schizophrenic posts i've ever seen on this forum IMO. Most people only reach such extremes of love/hate after +30 years of marriage. You acknowledge you like & respect jl777, and say he is talented & smart and has indeed done a mountain of coding work, and yet you still maintain a belief he is a 'money grabbing charlatan' - how very odd your thinking appears altcoinUK.

The only problem you identify is a time delay in releasing InstantDEX that everyone who bothers to investigate soon discovers is the rsult of a lack of testers, and jl777 has now started paying people to do this work. I don't see a charlatan but an extremely committed professional who tackles problems efficiently when they arise. The creation of SuperNET & InstantDEX has been nothing short of amazing, and time delays of 6 months are not  game-breakers. Also, the money raised from SuperNET IPO didn't even go to jl777 personally, it stayed inside SN to this day.

May or may not be a scam but it's definitely OBSOLETE technology compared to Ethereum.

You really seem to jump to a lot of conclusions without having any of the actual facts to base them on.

First of all, you keep saying that he collected 2 million dollars. If you're trying to imply that he himself has somehow pocketed all the money that people have invested in to SuperNET then that's not accurate at all. The money is part of the SuperNET asset. People on here are so used to scam devs raising big IPOs and walking away that lots of people here tend to assume that SuperNET also must be the same sort of project, when it's not at all.

Second, MGW was already more or less delivered back then anyway, at least the BTC mgw was working if I remember correctly. That was probably the first element of SuperNET that got the attention it needed to be finalized. And I highly doubt James claimed that he would complete every element of SuperNET by February considering it's a constantly evolving project that's meant to be built on over time not just by James, but by all developers working on the project. That being said, you can see here that there were no less than 4 different versions of the SuperNET GUI released during February:

Three versions in February of the older first client which actually appears to have started being released in November: https://nxtforum.org/lite-multigateway-releases/

Then February is also when the first release of the next generation of clients started as well: https://forum.thesupernet.org/index.php?board=38.0

And now work is beginning from the CPMT on a new client with a completely revamped UX which should be really interesting to see.

And yeah this comment from you is a really accurate description of the situation /s :


There has been a team of testers testing InstantDEX from the start, but bugs weren't being found fast enough so it was decided to expand the testing effort by hiring a dedicated full time tester to work with James as well as expanding the overall amount of testers. I'm not sure how you're turning this around in your mind to reflect negatively on James. But if you are then you should probably understand that James never claimed to be "the greatest organizer visionary of crypto" as you put it. All he has ever claimed to do is produce the code for his projects, and it's 100% up to other people in the project to do organize, create GUIs, coordinate and do everything else that's necessary as James makes it explicitly clear that coding is all he focuses on.

I just bought some more NXT today, I really love the concept, so I`ll support it with my AVATAR and the profile text.

Good luck with building a better crypto-platform!

As a currency, well, a currency is a....consensus mechanism for trade/barter between individuals.  In order for it to accomplish that goal, hundreds of thousands, millions, billions of people have to own it.  The fact that most NXT was probably issued to an amount of people you can count on two hands originally, means the coin creator would need to be limited to two brain cells to think that's a valid or good idea.

this is  non-mineable coins

and developer can create new coin every day without think about maximal coin

There is obviously a lot of uninformed users. Many are still influenced by the early distribution fiascio and still spreading that info and mainly not understanding how different the nxt ecosystem is right now.

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   :D

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

WTF is an "Instantdex" and why would I want one on my computer?

I'm not installing bloated compromised Oracle.Java crapware just so I can run NXT's bloated crapware on top of it.   :P

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

You're totally welcome to hate on Java, but as Java is an industry standard, that's just a matter of personal opinion and taste, like choosing between GM or Ford.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   :D

NXT is good seriously, but I think BURST has more features, just look what innovation BURST HAS:

Escrow
Subscription
Automatic Payments
HD mining


I dont think BURST will replace NXT, but the two are complimentary and should work together!

tech does look good. but i just did a quick run though of their block explorer and it seems like:

- about 120 pages X 50 address results on each page = 6000 addresses exist with balance of 1+ burst
- about 100 accounts control 1million+ burst
- first page shows the top 15 accounts control 10 million+ burst
- everyone else seems like they have less than 100k or less...


distribution is subjective so its hard to say if its "fair" in one person's view vs another.

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

There is obviously a lot of uninformed users. Many are still influenced by the early distribution fiascio and still spreading that info and mainly not understanding how different the nxt ecosystem is right now.

Also, Java's attack surface...GTFO n00bs.   :D

Scam or not. when do you guys even hear about NXT being brought up ?
Best I can tell that is very rare.
and no I am not trying to bash on it or support etc.. just sayin' lol

I will buy it up soon, i am going to buy some very soon, so it will be "bought up".

It is definitely a solid currency, I`m watching it since last october, and it has been evoling nice.


Of course there is NEM, BURST, COUNTERPARTY, that are similar, but I just like NXT for now!

Scam or not. when do you guys even hear about NXT being brought up ?

Walk into a store ask them if you can pay with NXT.... ;D
LMAO ROFL really nxt?

This is a clear indicator of a desperate noob who missed the train - when someone mentions Java myth busted decade ago.  :D

Java is an unending stream of patches for its myriad security holes.  Second decade same as the first.

If I walk into a store and ask if I can pay with U.S. dollars people will laugh at me. Such money much wow.

I would get the same result. Even though the USD is a global reserve currency, its only accepted in like 5-10 countries as a means of payment.

Bitcoin atleast is international, although not widely used, but international.

I`d like to see how you accept USD in countries where there arent any exchanges, like africa. But you can exchnge bitcoin for good & services.

NXT might not be a payment currency, but it fits into the same category as bitcoin by being crypto.

Well it must really suck to live where you guys live.  :P

Why would you say Nxt is a scam?

Why would you say Nxt is a scam? They really introduced some new developments and cool features do the ecosystem...

Why would you say Nxt is a scam? They really introduced some new developments and cool features do the ecosystem...

its a big threat to many coins out there if nxt ever got big. best to keep fudding it.

Anyone who trusts your FUD deserves to lose all their money when you conflate the secure JVM with the flaky Java libraries and flaky Java security model especially the grotesque web browser sand box model:

https://books.google.com.ph/books?id=YMQqZoc6L3EC&pg=PA67&lpg=PA67&ots=82VUnh-Gfy#v=onepage&q&f=false

https://threatpost.com/javas-losing-security-legacy/102176/

http://www.infoworld.com/article/2610267/security/patching-has-failed--so-it-s-time-for-java-to-go.html

One doesn't have to use the flaky aspects of Java when using the JVM. For example, the BitcoinJ Android bug was due to an error in the random number generator Android Java library. It had nothing to do with the JVM (virtual machine).

This sort of error proves that at best you are a very junior level programmer, or probably not even a programmer.

Also, you apparently don't understand programming enough to understand that many errors originate from the lack of semantic clarity and high level semantic invariants static type checking that isn't done in low level languages such as assembly, C, and C++. And C++ is one of the most complex, grotesque languages ever with perhaps only Perl and Brainfuck making it look good. And take this from someone who wrote a million user application in C++ and another one in C. I estimate you don't even know what sort of improvements in correctness pure functional programming can provide.

Get off my lawn kid!

You want Kobe Byrant (of 5 years ago) or Jeremy Lin?

You want me to tolerate a lot of BS and not perform so all of us are happy losers, or tell you directly what is and what is required to win.

its a big threat to many coins out there if nxt ever got big. best to keep fudding it.

I didn't concern this coin and didn't want to concern for a long time and won't forever. I have said no any unhappy words about it, but I really didn't like it.

Anyone who trusts your FUD deserves to lose all their money when you conflate the secure JVM with the flaky Java libraries and flaky Java security model especially the grotesque web browser sand box model:

https://books.google.com.ph/books?id=YMQqZoc6L3EC&pg=PA67&lpg=PA67&ots=82VUnh-Gfy#v=onepage&q&f=false

https://threatpost.com/javas-losing-security-legacy/102176/

http://www.infoworld.com/article/2610267/security/patching-has-failed--so-it-s-time-for-java-to-go.html

One doesn't have to use the flaky aspects of Java when using the JVM. For example, the BitcoinJ Android bug was due to an error in the random number generator Android Java library. It had nothing to do with the JVM (virtual machine).

This sort of error proves that at best you are a very junior level programmer, or probably not even a programmer.

Also, you apparently don't understand programming enough to understand that many errors originate from the lack of semantic clarity and high level semantic invariants static type checking that isn't done in low level languages such as assembly, C, and C++. And C++ is one of the most complex, grotesque languages ever with perhaps only Perl and Brainfuck making it look good. And take this from someone who wrote a million user application in C++ and another one in C. I estimate you don't even know what sort of improvements in correctness pure functional programming can provide.

Get off my lawn kid!

I didn't say it is more secure. But your FUD was over the top.

There are ways to use the JVM especially for example with a non-Java language and careful selection of libraries that has no reason to be any less secure than C and actually can be more secure in some respects (e.g. prevent buffer overruns that C doesn't, etc).

Also if you've got a lot of high level logic buried in low level noise, you are potentially more likely to have a bug in there which could be a security hole.

It is not some C is 1000X better than JVM.

If you want to say that Java libraries and security models suck, then fine. But don't damn the JVM (virtual machine) which is stable.

Cripes then you come back and spread more FUD again.

You are a classic asshole.

We should port Bitcoin and Monero to Java ASAP.   ::)

The JVM doesn't just exist in splendid isolation.  Even (falsely) assuming it's secure/stable,

the JVM can't (ie shouldn't) do much of anything without its libraries and security models.

Why does pointing out the obvious advantages of 'closer-to-the-iron' low-level interfaces for security-intensive (fintech, crypto) applications make me a "classic asshole?"

I will accept (slightly) below-market consulting fees

Java Scala is #1 choice in Finance industry with C# slowly catching up.

my Scala crypto program

Fixed.   ;)

Not even close. Look what quick googling has given - http://news.efinancialcareers.com/uk-en/137065/the-six-hottest-programming-languages-to-know-in-banking-technology/

But if my power, water, refuse/recycling, and Comcast continue on through 2015.75

Please vote and discuss

LOL.  Welcome to October 2014!

where is the automatic buffer overrun protection in C?


Look in the mirror buddy. There is the ego problem.

And iCEBREAKER will never become a rational amicable person with fairly balanced views with an open mind.

If you aren't a shitty programmer, you know exactly what you're doing and don't need (high-overhead) training wheels like "automatic buffer protection."

Correct. But we were talking generalities here about relative security all factors considered.

Can you imagine a scenario where a small community might want to use the power of a crypto currency that's distributed among them using PoW, but there aren't enough users to ever secure their own PoW network? The community would want to control as much as possible about the coin, so using Bitcoin wont work as most of the variables are already set, and the value is too volatile.

Think hard, and I'm not talking about you personally here either, just a group of people anywhere in the world who might want to use a crypto currency between themselves. I can think of literally millions of cases (my mind is very open), and many use cases don't suit bitcoin.

Bitcoin is cool and worth a lot for what it can do, but it isn't appropriate in every use-case where a PoW coin might be useful, BUT, that's ok because the NXT MS can cater for many other use-cases, including small niche cases, like a school community, workplace, apartment block etc.

How many P2P nodes do you need running 24/7 to secure a PoW network? More than many niche coins could ever guarantee on their own network, so they either use an existing crypto like bitcoin, or start their own MS coin.

I'm currently working on a proposal for a 'school coin', distributed using PoW, with a fixed supply that's reached within 12 months. I also want to peg the value of the coin to 1 cent. This coin would be very useful in a small school community of ~500 students as a 'rewards' system, and I can make it using a NXT MS coin quite easily. AFAIK there isn't any other viable option open to me.

NXT is the 13th largest cryptocurrency, and it has well respected dev team and tons of support.

Now it has a pause period now, but if the work continues it will be worth x10 x100 x1000 more, if the people will like their new features!

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   :D

NXT used to be in the top 5 and is number 13 now.
Keep on dreaming fanboy.

Programming languages used in most popular websites
Back-end (Server-side):
1. Java  with 7 mentions

https://en.wikipedia.org/wiki/Programming_languages_used_in_most_popular_websites

https://i.imgur.com/oScmJhG.png

#R3KT

I dont understand the metaphore? Can you explain?

How is NXT close to MTGOX?

NXT = Java = popular websites = MtGox

Can you do anything other than troll and conflate separate concerns?

Java == MtGox. You've just destroyed any shred of credibility you had remaining.

MtGox was written in PHP. :)

Metaphors should be logical.

Metaphors should be apt.

If they were strictly logical (ie literally true) they wouldn't be metaphors!

The definition of 'logic' is not 'literally true', rather a logical metaphor is one that doesn't have an obvious case of dissimilarity or where the similarity does not exist.

MtGox was programmed in PHP thus Java has an obvious direct dissimilarity with MtGox which is stronger than the transitive similarity you argued comes from popular websites because in fact you would be arguing every popular website is both MtGox and Nxt.

Logic fail. And this is why you are not worth shit. Go hide under a rock loser. You aren't worth another second of my time.

I read more coment above, but im still confusing about NXT
NXT is scam if this coin can't used to pay something, but this coin can use to create other "new cryptocurrency" called NXT asset

so why people think NXT is scam coin ?

NXT = Java = popular websites = MtGox

I know, I'm back after a long break and now am collecting trolls to play with. He is quite promising.

so why people think NXT is scam coin ?

NXT = Java = popular websites = MtGox

https://web.archive.org/web/20150811052336/https://blogs.oracle.com/maryanndavidson/entry/no_you_really_can_t

Oracle supports security through obscurity model and embarrassingly demands their clients to stop reverse engineering and looking for flaws within their products.

NXT is not just a scam coin, it's also a scam platform which supports creation of scam assets backed by nothing but vapor and hype.

Ever heard of https://en.wikipedia.org/wiki/OpenJDK?

I like such games. My turn:

iCEBREAKER = Titanic = Eisberg = A lot of people killed = Hitler

Hahaha, according to https://en.wikipedia.org/wiki/Godwin%27s_law this thread can be closed.

If NXT is a scam then Ethereum is even bigger one.

QUICK!!!  Chop up and throw away all your debit and credit cards!!  

I agree , CC and debit cards are notoriously insecure and flawed conceptually in many different aspects . The quicker we can move away from them the better.

so if you don't use java whats a much superior language to use?

Java or C#, no other good choices. BTW, Intel picked the former for its novel tech - https://software.intel.com/en-us/intel-inde-multi-os-early-access. Some guys say that Java is bad? They must be smarter than Intel then, LOL.

heh, thats not the fault of Java....but the EMV spec and protocol, which is nothing to do with Java at all.

Java or C#, no other good choices. BTW, Intel picked the former for its novel tech - https://software.intel.com/en-us/intel-inde-multi-os-early-access. Some guys say that Java is bad? They must be smarter than Intel then, LOL.

Java is ok , and certainly has gotten much better over the years with JIT, but still not as efficient or secure, generally, than C++.

but still not as efficient or secure, generally, than C++.

C#

http://thread.gmane.org/gmane.comp.version-control.git/57643/focus=57918 (Linus Torvalds)

http://whydoesitsuck.com/cpp-sucks-for-a-reason/

http://flyx.org/2014/04/24/cpp_sucks/

"Efficient" point may be valid if you compare Java against C++ compiled for the targetted processor (otherwise JIT will win in most cases).

"Secure" point is wrong, security is one of the main contracts of Java.

Interestingly, Oracle or Java's previous owners shouldn't get all the blame. Heck, most of the successful exploitations are exploitations of already patched vulnerabilities. Oracle released a patch and begged you to deploy it, and still you didn't. That hesitation, more than any other factor, is responsible for the bad rap Java is earning. It's not like Java is the program with the most exploitable bugs in a given year. That distinction belongs to Google Chrome, Mozilla Firefox, and Apple iTunes.

It is extremely easy to create a list of criticisms of any programming language with many valid concerns. The point is to understand the unique strengths and weaknesses of each.


Compiled JIT has improved java where typically it will perform almost as good as or equally as c++ in many cases. C++ tends to be slightly more efficient.


Sandbox or not , exploits tend to find a way around this contract ... time and time again.

Java is typically fine ... overall ... but high level languages wouldn't be my first choice for fintech programs.

If there are java vulnerabilities wouldnt that affect a lot if banking services?

Well sounds pretty boring to the mainstream.
They just want to know if they can pay with their NXT in shops.

So you guys are saying to me that a coin like NXT, which has resolved many core issues, have integrated tons of new features, has a functional lightweight wallet, has all sorts of great and helpful features, is just worth a trash?

You gotta be kidding me guys, it is the most innovative coin in the top 10. Fuck Ethereum, it doesnt even have a GUI wallet. NXT is probably the 2nd best after Bitcoin.

@Mickeyb:
There is extreme difference between Ethereum and NXT in terms of efficiency. With only 21BTC of crowdfounding, NXT was able to create a blockchain, a wallet and asset system within few months. The fact that with an IPO of 18 million $ Ethereum doesn't have a gui wallet one year later is very alarming. They will end up like MasterCoin if they keep being so inefficient.
As far as founding goes, SuperNET had an IPO of > 1 million $. Surely, it's much less then Ethereum, but comparing the efficiency of both teams...

As for my picks, I'd say: Bitcoin, NXT, MaidSafe and BitcoinDark.

Why MaidSafe? I like their goal, a decentralized internet. Unfortunately I didn't have time to read their technical papers, I trust they know what they are doing. [Yep, it's a disclaimer.]

It does, Fraud is rampant with fiat currencies and traditional banking.

They all are good platforms. Just which one will the big boys adopt?

They all are good platforms. Just which one will the big boys adopt?

Bitcoin, Ethereum  and NXT from the shadow are my 3 picks.

NXT

- Once stakers have to pool their stake, which is inevitable, or the network doesn't function, the system basically becomes a far less efficient, less distributed version of DPoS, so I consider NXT currently a dead end system as described by problems under the standard proof of stake section in this post:

https://bitcointalk.org/index.php?topic=1171109.0

NXT

- Once stakers have to pool their stake, which is inevitable, or the network doesn't function, the system basically becomes a far less efficient, less distributed version of DPoS, so I consider NXT currently a dead end system as described by problems under the standard proof of stake section in this post:

https://bitcointalk.org/index.php?topic=1171109.0

And where is the pressure for Nxt forgers (stakers, as r0ach puts it) to pool their stakes ?
There is no extra forging power to be gained by combining stakes: running 10x 1 million NXT stakes gets you just as much income as running one 10 million NXT stake.
And, there is no economy of scale with Nxt forging equipment: a RaspPi2 will forge just as efficiently as the latest quad-core rig.

The costs of running a Nxt node are by design very low (as are the rewards  ;D) in order to ensure that Nxt will remain decentralised as it scales up.

I don't know CfB looks like that troll is pretty canned, grumpy and it's logic often fails completely. Definitely a real piece of work.

Yes, let's discuss people and personalities instead of answering the OP's question.

Or not...

All year long, the market has been saying NXT is a scam.  The only reason it's not lower is because the insiders who got in cheap keep the price propped up, as they slowly dump on gullible simpletons like LiQio.

https://i.imgur.com/pSaXUmp.png


^^^That's what a dying coin looks like.  NXT is abandoned, with a pathetic <100BTC in daily volume.

After all the hype and glittering promises NXT is still useless for anything except creating and dumping scam assets like j777hodl.

http://www.jl777.org/  --->  This site is temporarily unavailable

:D

Nice chart, may I have the same for Bitcoin for comparison? Thank you in advance.

actually all of coins tend to have the same long term chart!  :D

The NXT chart is priced in BTC.  Not sure why you GAF about fiat.

The key point is not the price decline, but rather the disappearing volume.

BTC volume is stable over the last year+.  Nobody is trading NXT.

The air is leaking out of the NXT market.  It's a dead scam-coin+scam-platform and the corpse is cooling off.

Like Supernet, the only thing it was good for was making jl777 a lot of BTC.   :D



The key point is not the price decline, but rather the disappearing volume...

Yes, let's discuss people and personalities instead of answering the OP's question.

Or not...
[...] as they slowly dump on gullible simpletons like LiQio.

I don't know CfB looks like that troll is pretty canned, grumpy and it's logic often fails completely. Definitely a real piece of work.

^
classic

I don't understand why people say NXT is dead.

Obviously this kind of technology needs 5-10 years to develop.

Anything NXT can do, ETH can do in a much more flexible, far less shady environment.

NXT isn't dead, because it was never alive.  Nobody has ever used NXT for anything legitimate, scam assets notwithstanding.  And it's had over a year to shit or get off the pot.

In 5-10 years, NXT and everything it's built on will be obsolete.

With vanishing volume and zero actual use, who will pay and/or work to keep NXT's grotesquely bloated features updated with the latest tech until 2020 or 2025?

Face it, Ethereum ate NXT's lunch.  Anything NXT can do, ETH can do in a much more flexible, far less shady environment.  Plus ETH has a vibrant community and booming volume.

Any pictures of Ethereum wallet?

Guess what you'll find when you Google for images on "ethereum wallet"... ;)

With vanishing volume

Wallets are for the kind of noobs who don't understand why NXT failed. For now, they can just keep their ETH on Poloniex (with 2FA).

Wallets are irrelevant compared to the Holy Grail of user-programmable Turing-complete smart-chains.

Volume is a bad indicator for 100% PoS coin because there are no miners who need to sell coins to pay electricity bills. Funny that you forgot this. Or maybe you didn't...

doesn't lack of vol also indicate no ones using it as a currency  ???

the Holy Grail of user-programmable Turing-complete smart-chains.

the Holy Grail of user-programmable Turing-complete smart-chains.

NXT has SUPERNET liteweight client, ETHEREUM has jackshit console obsolete technology pal :)

A slick GUI is only as good as the coin it represents.  How did that nice Android client work out for Paycoin?

ETH might be the most useful thing since Bitcoin and Monero.

What good does NXT do?

It helped jl777 list some scammy assets (https://www.poloniex.com/exchange#btc_jlh), which are now dead thanks to a summer of zero volume...

...and?  OK NXT bagholders, don't answer all at once...

Hmm...scammy dead assets and no volume, or user-programmable smart-chain with massive volume?

What a tough choice!

If the user-programmable smart-chain feature gets implemented.

And even then the potential attack vectors and undiscovered bugs are too big in order to become a usable currency in the near future.


Bitcoin still gets updates, and it has been over 6 years now, and bitcoin is a very simple protocol compared to ethereum.

With ethereum I can already see the greedy hands of hackers trying to find vulnerabilities in any piece of code. The amounts of theft in ethereum will be huge in the next months.

Even if ethereum is better, it will definitely need alteast 10 years to get out of beta phase lol :D

ETH might be the most useful thing since Bitcoin and Monero.

Volume is a bad indicator for 100% PoS coin because there are no miners who need to sell coins to pay electricity bills. Funny that you forgot this. Or maybe you didn't...

That means that the price decline is an indicator of flawed fundamentals. This would be good with a stable and/or increasing price.

That means that the price decline is an indicator of flawed fundamentals.

Interesting point of view. Back in 2013 we would have said that fundamentals are good (if we followed the same logic). This arises philosophical question: when is it the right moment to use Klee Indicator? I would go even further and claimed that any currency has flawed fundamentals because none has been thriving forever yet. As a cherry on top I would recall BCNext's "A world with the money can not be perfect", hehe.

Question is why is NXT price falling? Aliens?

Question is why is NXT price falling? Aliens?

Question is why is NXT price falling? Aliens?

Question is why is NXT price falling? Aliens?

Salient point. Bitcoin price has slowly been capitulating over the last year simply because inflation is placing downward pressure on price as there needs to be almost a million dollars a day flowing into bitcoin to maintain parity. This means bitcoin is growing, but not quite at the same rate as ~9% inflation.

The fact that there is no volume and NxT price continues to capitulate even when compared to BTC which is also capitulating, and it doesn't have any inflation like bitcoin should be alarming.

Salient point. Bitcoin price has slowly been capitulating over the last year simply because inflation is placing downward pressure on price as there needs to be almost a million dollars a day flowing into bitcoin to maintain parity. This means bitcoin is growing, but not quite at the same rate as ~9% inflation.

The fact that there is no volume and NxT price continues to capitulate even when compared to BTC which is also capitulating, and it doesn't have any inflation like bitcoin should be alarming.

But NXT has 0 inflation. All the revenue NXT stakers get is from transactions.

If there are less transactions, then miners dont mine that much, so either there are many transactions and people dump it, or there are less and people are not interested.

I think Nxt price has decreasing in particular because of the many asset crowdfunding.

once Bitcoin bubbles up again it will bring new interest in all crypto

ohh really ?

you all love clinging to that notion eh  ::)
*if it does happen it won't be the same like you guys are implying..
things are different.. very different !

This is exactly my point. It should be trivial to keep NxT price stable or even grow it with 0 inflation. Tx volume can easily be faked in a coin , and the fact that there is so little of it shows that no one is using it for anything besides speculation.

I agree. Downward price indicates a combination of current adopters investing in Nxt Assets and bagholders selling off their coins outpacing new adoption from elsewhere. Either way it should be troubling.

One could speculate that once Bitcoin bubbles up again it will bring new interest in all crypto and reverse this trend for Nxt. The concern with this is Nxt isn't just losing value and market cap in relation to bitcoin but losing its ranking in general slowly. This means that when renewed interest comes into our ecosystem than people will be focused on diversifying their investments with other shiny new toys like ethereum. 

Than there are all of the "black swan" coins that will be released. Paycoin was able to scam a large part of the ecosystem and it was promoted by a fairly small company. What happens when Goldman Sachs/IBM coin is released. For good or bad it will give bitcoin a run for its money let alone everyone else. Very few of these corporate /banking coins will partner with XCP, Nxt, BTs, ect either ... they are going to clone the code and control it themselves. This has already started to happen with companies that are really supportive of BTC with the example of Medici/t0 taking what it needed from counterparty devs , and dropping them. 

Its more likely that the big holders are dumping their staked profits. Remember its still a fairly centralized coin, and if they dump more, then it becomes decentralized.

NXT is on the right path to be decentralized, so i dont worry about this.

NXT has far more solid achievements behind it, and if they would hire a PR/Marketing team, it would rock immediately.

What is wrong with speculation, if the assets are ok and are bringing in new guys, and are giving genuine profits (not ponzi scams), then it can be an investment platform.

A crypto-stock market.

Not all coins have to be currencies, some might have different roles.

I don't know, long time ago I sold my NXT and stopped paying attention to the price. Maybe aliens, right.

This is the reason NXT is falling/failing.

This idiot.

Admire this shithead.

This is the reason NXT is falling/failing.

This idiot.

Admire this shithead.

Wallets are irrelevant compared to the Holy Grail of user-programmable Turing-complete smart-chains.  And I like CLI anway.   ;)

Wallets are for the kind of noobs who don't understand why NXT failed.  For now, they can just keep their ETH on Poloniex (with 2FA).

Everyone capable of making stuff for NXT is going to have a blast with ETH.

NXT is the cargo cult's bamboo version of ETH.

Hehe, this reminded me one joke about commas. Falling - yes, we see this on price charts. Failing - pretty bold statement, maybe subject to linguistic nuances.

Even though you made them millionaires they will come back to ask more after they blow their fortunes.

There are some good NXT assets which pay dividends?

Crypto asets in general are high risk and have a horrible track record. There are no known Nxt Assets that have actual companies, physical locations, real assets, and clients who purchase goods and services besides equity in their project like a normal stock.
Most appear to be investments into devs to support vaporware or half finished projects or are outright ponzi's.

@John_Paul:
Mike Tyson is an extreme example. Peak net worth $300 mil, now broke.

Some assets were issued by public registered companies at NxtAE. DeBuNe is one of them. DeBuNe is registered in Singapore. If you have any question you can directly ask DeBuNe guys at NXT forum.

Some assets were issued by public registered companies at NxtAE. DeBuNe is one of them. DeBuNe is registered in Singapore. If you have any question you can directly ask DeBuNe guys at NXT forum.

Mike Tyson earned his money.  But in the crypto world, some people (like some of the NXT whales), they invested 1 btc or less in a coin and suddenly became millionaires after the launch of this coin. It is just pure luck.

After receiving this sudden fortunes, they became delusional and looked their luck as their entitlement. If their fortunes were shrinking and not growing they stated to blame those people who brought the fortunes to them in the first place. What a wretched heart!

If this was the case we would see an uptick in volume with more users. The fact we see a large drop in volume indicates that the coin isn't becoming more decentralized but old investors are selling for assets and original investors selling to later investors that still have faith in the currency.

BTS tried this strategy and failed miserably. There isn't any magic bullet with hiring a PR firm or fixing the wallet. What NXT needs is a use case ... it needs merchants to accept it as a currency and users to know it even exists. This doesn't come easily and something that NXT has barely even begun to work on and now are very far behind the race.

Is this what Nxt has become? A platform for selling "asset" tokens? Are any of these asset tokens representing real companies with real assets and employees?

#11 is NautilusCoin....ooops. Shouldn't be there, as it's actually a Nxt Monetary System based currency.
 

Admire this shithead.

Ay Caramba!

you mean that Nautiluscoin:

http://nxter.org/nxt-to-power-a-full-economic-ecosystem-with-drachmae-nautiluscoin-nxt-foundation-brian-kelly/ (http://nxter.org/nxt-to-power-a-full-economic-ecosystem-with-drachmae-nautiluscoin-nxt-foundation-brian-kelly/) ?!?!

Yes, you shouldn't mention that, that only has the 'Nxt inside' technology label, that has nothing to do with Nxt!

NXT is not scam. It`s a good coin.

No, not that one, this one:
http://www.forbes.com/sites/rogeraitken/2015/09/18/brian-kelly-capital-investing-in-first-fully-deployable-digi-currency-ecosystem/

NXT is not a good coin.

It's a scam, and provides a scam-platform to launch other scams (SuperNet, NautilusCoin, jl777hodl, etc.).

NXT is not a good coin.

It's a scam, and provides a scam-platform to launch other scams (SuperNet, NautilusCoin, jl777hodl, etc.).

the Nautiluscoin project is to formally join forces with the Drachmae project to develop what is described as a “full economic ecosystem” for the Greek island of Agistri, located an hour from Athens by ferry, and is scheduled to launch on 26th September. The system is to be tested on the island during Athena Model TV Show – a contest to find Greece’s next top model.

Monero is even greater scam because it's used to launder money earned by kid porno creators.

Can you prove your accusations?

I think you are confusing Monero with Darkcoin/Dash.

Pedophiles Launch Dash (“Darkcoin”) Mining Crowdfunding Platform
https://bitcointalk.org/index.php?topic=1126032.0

DASH is crowdfunding child abuse
https://bitcointalk.org/index.php?topic=1126835.0

My question was if you could prove that NXT is scam

What are the potential downsides of NXT?

One of the most concerning aspects of NXT is the way in which the original 1 billion NXT coins were distributed. Rather than gradually being minted into existence via proof-of-work (POW) mining (as with Bitcoin) or being backed by a large crowdfunding effort (as with Swarm and Ethereum), these tokens were simply coded into being.

Without wide participation and actual wealth backing this creation – with the exception of a limited “IPO” of 21 BTC that resulted in the NXT tokens being placed in just 73 accounts – these initial tokens appeared to have have been distributed to a relatively small number of holders. This high concentration of wealth would make it easier to manipulate both the price of NXT, and its underlying assets.

Another potential downside is the lack of known developers. In contrast to the development teams of projects such Bitcoin, Bitshares, and Ethereum, NXT’s developers are anonymous. This removes personal accountability and raises the possibility that developers may act in their own best interests, rather than those of the community and overall NXT ecosystem. Similarly, since NXT’s code is not completely open-source, it is possible that some sort of malicious or unfair backdoor code could be implemented by the unknown developers.

The ability to easily create and trade cryptoassets – by itself, a powerful evolution from “1.0” technologies – also presents inherent threats for investors. “Pump and dumps” are certainly not unique to NXT. They occur, however, with alarming frequency. Anonymous actors can easily create and promote their own assets, then sell off the shares for a profit, leaving investors with worthless shares.

My question was if you could prove that NXT is scam

James’s influence over NXT cannot be overstated; his involvement and influence over the platform is tremendous. As the issuer of 17 assets and the self-proclaimed lead developer on no less than eight projects, his name has become synonymous with the platform itself.

Yet it isn’t development work that’s earned James his reputation; it’s his ability to create and promote cryptoassets that quickly appreciate in value. Leveraging NXT’s Asset Exchange, James has created a veritable menagerie of tradable tokens which are hungrily gobbled up by buyers. Having made many NXT fans money in 2014, the anonymous ringmaster has legions of devoted followers.

The combined market cap of all these assets? Nearly $23 million.

James’s typical approach appears to be as follows:

1.    Create a cryptoasset on the NXT platform
2.    Tie that asset to a NXT service that has yet to be developed
3.    Announce the asset and/or service on a thread at NXTforum
4.    Release the new asset to: himself, key members of the project (if applicable), and holders of NXTventure, SuperNET, or possibly another asset. This asset distribution is not an IPO, but a “dividend.” In fact, there is no initial offering to the public.
5.   Profit (at least on paper) from the rising price of the asset as interested investors – specifically, those who did not receive “dividends” as part of the initial distribution – buy the asset and move the price upward. On the sell-side of this trade are the people who got in at the early stages, without having to pay anything: James, and those who got paid out in “dividends.”
6.    Place the project in someone else’s hands, then move on to create his next asset.

By itself this approach is not necessarily cause for concern. However, upon deeper analysis, many red flags emerge.

Of all the assets that James has released that represent ownership or profit-sharing rights in a service, only one of them – multigateway – is backed by a working service. In other words, there is a great deal of investor money supporting projects that are not bringing in revenue, or even functioning.

The anonymity is cause for concern as well. While the prolific asset-issuer claims his real name is James Lee, there is no way of knowing if this is true; the person controlling the “jl777” account has chosen completely obscure his true identity. While individuals with known identities can certainly act maliciously as well, complete anonymity makes it easy to simply disappear after dumping shares of a worthless crypto-business.

My question was if you could prove that NXT is scam

The Complex World of jl777

Out of the 35 NXT assets listed on coinmarketcap.com/assets, 14 of those assets were started by James 1. Of these assets, seven of them are in the top ten NXT assets listed in terms of market cap.

NXTventure: NXTventure is currently valued at almost $1,375,000.. This asset is a venture capitalist fund of sorts run by James. Investors who originally bought the NXTventure assets were providing the funding that he could then use to back projects. When a project is started under NXTventure it is customary that a fixed percentage of the equity created is dispersed to holders of NXTventure. James refers to the distribution of equity for projects started under NXTventure as “dividends,” even though it is only newly created assets being distributed – not actual profits 2. In fact, none of the projects started under NXTventure have had any profits at this point.

The description listed for NXTventure on the NXT Asset Exchange states that “NXTventure makes private investments in promising enterprises and adds value to each investment by proactively integrating it into NXTservices to add a valuable new service for the NXTcommunity. NXTventure will pay monthly dividends in the assets it acquires, net of trading activities during the launch period. This means NXTventure asset will generate a stream of new assets as it launches them.” 3

Upon closer inspection, however, it appears that some of those words aRE misleading at best – and could be considered outright lies depending on how you view it. On multiple occasions NXTventure has failed to pay out dividends during the month.

Multigateway has been in service for several months. 34 Overall it appears that the service works and people use it. MGW’s relatively low market cap is curious, given the fact that it’s just one of the two services created by James that is currently operational.

Like many other projects James has started, in his initial announcement there was no indication that James eventually planned to hand the project off to others and take an advisory role. Recently, however, it appeared that James was “tired” of dealing with MGW; he stated that he was going to stop hosting its servers, regardless of whether or not the people who were going to take over running the servers were ready. 35

Why the lack of focus? James appears to be more worried about his newest project – SuperNET – to bother finishing the previous projects he’s started. Investors, however, bought the asset expecting James to always be involved with the asset and treat it as a top priority. While this particular issue was eventually resolved with the production servers going back into service, it raises the question of how much James cares about his older projects as compared to his new ones.

My question was if you could prove that NXT is scam

there are a number of areas where a lack of transparency and asset-issuing best practices has raised red flags.
With respect to James and his assets, the following facts give us pause:

1.) “James” is anonymous; he has zero accountability, and could liquidate his holdings and vanish without a trace.  Even attempts by an exchange – Poloniex – who wanted to list one of his assets failed to produce verification of identification. As the exchange stated, “…one of our ICO (Initial Coin Offering) requirements is identity verification; this requirement exists to protect investors and to lend credibility to the ICO. Despite several attempts to convince James the importance of revealing his identity, we were ultimately unable to reach an agreement that satisfied both parties.” 49

2.) The majority of his projects are not live, functioning services bringing in actual profits.

3.) James sets up most of his projects, from their inception, to disproportionately benefit his own financial interests . For example, SuperNET is set up specifically to deliver 10% of profits to himself, as well as “performance bonuses” based on the cryptoequity’s market cap.

4.) Similarly, ownership of the James assets is dramatically skewed in his favor. This stems from the fact that when he creates an asset, he gives himself a large chunk of the outstanding shares. The following summary of jl777 assets – courtesy of nxtreporting.com – shows just how skewed this ownership is:

The distribution of jl777 shares in NXT

In other words, the full amount of all jl777 assets is roughly $22.5 million. Subtract the value of the “issuer account,” and there is only $7.3 million left. Thus, James appears to own 2/3rd’s of all his assets’ shares. With ownership so heavily concentrated in the hands of James, there is the possibility that he could leverage his disproportionate influence to quietly manipulate the market to his advantage.

5.) He actively promotes the “past performance increases the odds of future results” fallacy: “my track record of having tripled a small 1500 BTC sharkfund0 in 3 months and that 8 of my 9 assets have on average gained 2.5x and 125 million NXT and the BTCD went from 100K marketcap to $8 million marketcap in month and a half.” 50

6.) He makes forward-looking projections, with certainty, about future results: “Most people here are probably attracted to the ROI profile where the downside is probably -20% in any sort of realistic worst case…the early birds can get a 25% gain over 4 weeks in this minimal case.” 51

7.) He applies different rules about risk and reward to crypto-assets – seemingly obviating the need for due diligence.

8.) He arbitrarily abandoned multigateway without notifying investors, indicating that he doesn’t care about long-term success of his projects. 52

9.) The lack of White Papers and prospectuses. Potential investors lack a clear source of information about assets and their business model; oftentimes it’s all presented on a forum thread. The typical announcement thread for his assets features a dearth of solid information about the service, mixed in with flashy financial terms and difficult-to-understand lingo. Furthermore, the assets don’t have a prospectus, and the funds do not make it clear what their holdings are. Instead of having all this information in one place, investors have to spend hours looking through forum posts and other sources to get the information they need to make a better-informed decision.

10.) His modus operandi  is to issue an asset, then start the project. He subsequently oversees the project and has other members of the NXT community do the coding. As outlined above, he often eventually steps away from – our outright abandons – the project. This lack of commitment and focus presents a sizable red flag.

11.) The use of “dividends” – commonly understood as a form of profit-sharing – for projects that are not yet actually profitable (or in many cases, even functional). While it appears James has never claimed to issue dividends in the profit-sharing sense, potential investors unfamiliar with this distinction could easily be misled. The fact of the matter is that the only “dividends” he issues are new assets being given to those who hold nxtventure or SuperNET.

James has a history of creating assets, giving himself a large chunk of those assets, and then releasing the asset for public trading. After seeing the price increase, he then moves on to other projects before finishing the project he sold assets for. As all of his assets are driven by speculation and not actual, profit-generating services, it’s possible that James is trying to unload as many assets as he can before the scheme hits its inevitable limit.

Conclusion:

From the fact that James hides his identity, to the lack of services that are up and running, to the fact that his assets combined have a higher market cap than NXT itself, to the general lack of transparency and clarity, there is no shortage of reasons for investors to proceed with caution. Caveat Emptor is the watchword here.

Can you prove your accusations?

I think you are confusing Monero with Darkcoin/Dash.

Pedophiles Launch Dash (“Darkcoin”) Mining Crowdfunding Platform
https://bitcointalk.org/index.php?topic=1126032.0

DASH is crowdfunding child abuse
https://bitcointalk.org/index.php?topic=1126835.0

Anyone at anytime can start hashing.

Says the dumbass who uploaded his private key to dropbox unencrypted.

http://www.glassboxinvestments.com/report-1-nxt/

there are a number of areas where a lack of transparency and asset-issuing best practices has raised red flags.
***cut loads***
tl;dr NXT is a scam

Ah, I do confuse. I withdraw Monero part but keep Bitcoin one.

Just like mining farms, NXT will consolidate into large stake pools. The difference between them and Proof of Work is that PoW doesn't permanently consolidate stake. Anyone at anytime can start hashing. NXT technology is only good as a legal tender and not a store of value unless you trust your local government.

... the people who matter ...

the tiny group of chinese miners you mean?

if it’s crucial for you – the potential investor – to be involved in a platform where all development happens in the open, from start to finish, NXT may not be the ecosystem for you.

No, I mean the socioeconomic majority.

Maybe try to RTFA?

https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/


NXT is closed source?  Wow, this scamcoin/scamplatform get more scammy the more I look at it!

yes, as i already said, the tiny group of chinese miners aka your 'socioeconomic majority', who cared more about expected orphan rates than consensus.

and no, nxt is open source and was, for all with a basic code understanding, right from beginning. a simple google search would make this clear, even for you.

first, wipe the foam from your mouth, take a deep breath ( or take a look here, maybe this helps: https://www.youtube.com/watch?v=qnJJ2fojawE (https://www.youtube.com/watch?v=qnJJ2fojawE) )
and do whatever you want. i don't care as i said before and if you can't take the heat, get out of the kitchen.

NMF you can't RTFA, and are so stupid you think BitFury, KnC, and Eligius are tiny and Chinese.

WARNING: NXT is an insta-mined closed-source scam-coin for issuing scam-assets!

Do you think ^that is good enough to be my new sig?

WARNING: NXT is an insta-mined closed-source scam-coin for issuing scam-assets!

Do you think ^that is good enough to be my new sig?

Bitcoin didn't cause the loss of that billion in market cap.

WARNING: NXT is an insta-mined closed-source scam-coin for issuing scam-assets!

Do you think ^that is good enough to be my new sig?

NXT is closed source?  Wow, this scamcoin/scamplatform get more scammy the more I look at it!

iCE: you're basing a lot of your anti-NXT stuff in this thread on a document (with a shedload of errors) that was published well over a year ago.

Nxt is completely and utterly open source, is distributed under the GPL license, and has been open source since Feb 2014.

Check your facts, mate. You're quick enough to point out errors from others......

Heres a link:
https://bitbucket.org/JeanLucPicard/nxt/src

Anyone that at this point would even hint about NXT being a scam with all that has been achieved, and is being achieved every day, is so clearly trolling that does not deserve attention, regardless of the post count he or she could have.

Said this, please guys just stop feeding the trolls, is their game and they enjoy it.

Geez.

Eth.

I'd like iCEBREAKER to come over to NxtForum and elaborate on his scam accusations so we can have a calm discussion between gentlemen. Of course 1) He cannot elaborate, 2) he's not a gentleman, 3) his cheap trolling would get him ignored in the blink of an eye.

Do you really think there's many weak hands still in the game, that will panic when reading your red bold bile? So disappointing.
 

Let's vote on whether Bitcoin is a scam
or US dollar

I dont know if it classifies as a traditional scam or not but there was no bcnxt it was CfB the whole time..

Check these movies, you may like them:

The Usual Suspects (http://www.imdb.com/title/tt0114814/)

Check these movies, you may like them:

The Usual Suspects (http://www.imdb.com/title/tt0114814/)
The Postman (http://www.imdb.com/title/tt0119925/)
Now You See Me (http://www.imdb.com/title/tt1670345/)

Do you really think there's many weak hands still in the game, that will panic when reading your red bold bile? So disappointing.

Only strong ones remain.  That's why volume and market cap are dropping like a stone.

http://www.glassboxinvestments.com/nxt-report-follow/


if it’s crucial for you – the potential investor – to be involved in a platform where all development happens in the open, from start to finish, NXT may not be the ecosystem for you. (http://www.glassboxinvestments.com/nxt-report-follow/)

What took so long?

Legitimate coins, like BTC and XMR, are open source prior to launch.  Waiting to release secret code is a security risk (less eyeballs finding bugs/backdoors) and looks sketchy as hell.


^That is good advice.  Only invest in platforms where all development happens in the open, from start to finish.

NXT smells like a scam, looks like a scam, and acts like a scam.

Interesting logic, shouldn't the result be the opposite?

Another Emule!  ;D ;D

Emule on March 26, 2014, 04:58:27 PM

tabula rasa!

https://i.imgur.com/FFIwBUH.gif

[CfB:]
https://i.imgur.com/LWLYg3K.jpg

BCNext:   - What the hell is this guy doing?
CFB:   - Maybe training how to give a bl*wj*b?  Huh

Scam confirmed.

What is the goal of this scam, btw?

How's your jl777BagHodl investment working out for you?   :D

What is the goal of this scam, btw?

Ermmm...I know, I know !

Is it: to consistently produce lots of innovative, stable secure and usable useful crypto-currency technology that will, in the long run, enable users to take complete personal control of their own finances and force the creation of a new financial paradigm ?

Or was it to create an open and inclusive platform for blockchain based businesses and projects by providing a complete suite of powerful, easy to use features ?

Nxt: the scam that delivers.... ;D

Nxt has delivered nothing but promises, promises, and more promises.

Then it broke those promises, as jl777 abandoned it for SuperNet (just as he will soon abandon SuperNet for SuperSuperNet).

NXT could be a fantastic project with its large supporter and fan base, and in my opinion it would be a lot better without Supernet.

EvilDave is a complete plonker

At least %25 of people think it's a scam and you changed the subject to a PROPER crptocurrency. Seriously?

I don't know in what kind of "democracy" you live, but 75% is quite a good margin for a "greater majority", don't you think?  ;)

I don't think it's a good percentage to say a cryptocurrency "proper". When we see altcoin scene there are tons of shill accounts etc. you can manipulate polls and show any scam coin like legit in poll.

I don't think it's a good percentage to say a cryptocurrency "proper". When we see altcoin scene there are tons of shill accounts etc. you can manipulate polls and show any scam coin like legit in poll.

If everyone can use sockpuppets, then how did you come to the conclusion that "At least %25 of people think it's a scam"?

Has someone just said that the truth can be found by voting? I beg you to vote about the speed of light limit then.

be carefull what you are asking for. latest quantum-eraser setups confirms reality is subsequently changeable.
image what could happen with all those nice planck cubes around us if you are tinkering with the refresh rate.  ;D

Coin Shuffling. It is coming to Nxt.
The trolls are going rabid,
because now Monero is irrelevant.

Coin Shuffling. It is coming to Nxt.
The trolls are going rabid,
because now Monero is irrelevant.

Nope, it isn't.

And.....you forgot the follow-up report from Glassbox:
http://www.glassboxinvestments.com/nxt-report-follow/

As we’ve seen time-and-again in the crypto world, it’s all to easy to create an asset out of thin air, pump it full of hype and pretty rainbows, and then dump it for a profit. Revenue generation sends a clear signal that an asset is more likely to be a legitimate investment.

Speculation on the future valuation of non-profitable companies is a perfectly legitimate investment strategy – and it happens all the time in the “real world.” Just look at Twitter (TWTR), who lost $175 million last quarter. However, Twitter does have a clear business model and does generate revenue ($361 million in Q3). Although some would argue that it’s a colossal time-sink, it’s clearly not a hollow shell designed simply to get investors on board.

Speculative assets that generate NO revenue whatsoever would be riskier. A phantom service, built simply for a pump-and-dump, would be very likely to fall into this category.

Scam confirmed.

NXT is the most interesting construction of them all... The design is phenomenal. It's not a scam in the way a financial scam is, it's an ideology the most dangerous of all.

The NXT platform is marketed in a professional manner, covering all bases and providing all manner of utility. It has a purpose, when I look at it the pieces fit together.
The flexibility and the availability of scrypting utilities that are provided is astonishing; It's basically the entire Cryptocurrency movement's ecology, made into a single platform. Whatever is provided in singular coin and their support services is all handled from the inside.

The program is even updated from the inside and hash checked automatically, it's programmed to a level of security that is unheard of, whatever it's purpose, it's ready for war.

The control of the currency is in the hands of a few caretakers, very likely passionate believers in the NXT ideology, and they have the features and technology to back it up.
Who would of thought? a Monetary system build into NXT to make your own NXT? What?! It's mimicking the entirety of the cryptocurrency movement inside itself!

When I look at SuperNet and all it's other programs... I see a concerted effort; each piece is being assembled one by one and integrated into what came before and all marketed in a way that makes it seem like they are seperate services, but there is only one SuperNet.

If I take everything provided, SkyNet, FinHive, Multi-Gateway, Pangea, TradeBots, etc... they build on each other.

SkyNET: Artificial Intelligence system for distributed automated computing. This speaks for itself no need to learn something new or train, SkyNet can give you the resources to be a pro.

FinHive: Builds upon SkyNet providing financial analysis that would cost thousands, take years of education and lengthy exams to be able to do effectively.

Atomic: Cross-Chain ledger, do transactions safely within the environment of a DAC.

Multi-Gateway/InstantDex: Safe decentralized place to exchange currencies.

TradeBots: Gain benefits from the emerging insights of other users.

FreeMarket: Decentralized Marketplace, buy and sell anything listed.

DeBuNe: Decentralized Business Network, Juxtaposed against SkyNet this provides easy access to experts/ businesses and freelancers that can compliment the AI's intelligence by providing real world benefits, plus a natural fact checking feature provided by real people.


It impresses me that it is all being built slowly but surely. I merely have to see what is available in the Bitcoin ecosystem to see what will be built NXT.

I can't wait.

NXT is a Decentralized Automated Organization.

Throw in the voting feature, distributed storage, and other featured detailed in the Technology tree and NXT starts looking like a cross between a government and a Distributed Operating System.

I talked with BCnext when they were still considering the design of NXT; The approach that they took struck me as odd, I though maximum market share would be a better design, but that's not what BCnext wanted, they wanted a slow growth rate. Looking back... now I understand, and it makes me wonder what it was that they wanted to achieve that was so profound that they had to see if Humanity was prepared to accept their vision.

A Global Decentralized Operating System for every man, woman and child across the earth. I'm guessing here, but it's the only direction the technology tree leaves room for, NXT is free and extremely powerful in it's final form.

http://www.nxttechnologytree.com/

If I take everything provided, SkyNet, FinHive, Multi-Gateway, Pangea, TradeBots, etc... they build on each other.

SkyNET: Artificial Intelligence system for distributed automated computing. This speaks for itself no need to learn something new or train, SkyNet can give you the resources to be a pro.

FinHive: Builds upon SkyNet providing financial analysis that would cost thousands, take years of education and lengthy exams to be able to do effectively.

Atomic: Cross-Chain ledger, do transactions safely within the environment of a DAC.

Multi-Gateway/InstantDex: Safe decentralized place to exchange currencies.

TradeBots: Gain benefits from the emerging insights of other users.

FreeMarket: Decentralized Marketplace, buy and sell anything listed.

DeBuNe: Decentralized Business Network, Juxtaposed against SkyNet this provides easy access to experts/ businesses and freelancers that can compliment the AI's intelligence by providing real world benefits, plus a natural fact checking feature provided by real people.

NXT is a Decentralized Automated Organization.

Throw in the voting feature, distributed storage, and other featured detailed in the Technology tree and NXT starts looking like a cross between a government and a Distributed Operating System.

prepared to accept their vision.

A Global Decentralized Operating System

Coin Shuffling. It is coming to Nxt.
The trolls are going rabid,
because now Monero is irrelevant.

Hey, iCEBREAKER, what is that story about you and cypherdoc scamming people for 50 million USD with help of HashFast? Aren't you just trying to hide from angry customers in this thread?

Edit: Never mind, found it - https://www.google.com/webhp#q=iCEBREAKER+cypherdoc+hashfast+scam

Scam confirmed.

@jdbtracker: excellent post, mate. You do a better overview of Nxt than me...... ;D

Hey, iCEBREAKER, what is that story about you and cypherdoc scamming people for 50 million USD with help of HashFast? Aren't you just trying to hide from angry customers in this thread?

Edit: Never mind, found it - https://www.google.com/webhp#q=iCEBREAKER+cypherdoc+hashfast+scam

Scam confirmed.

I don't get it. What happen?

Coin Shuffling. It is coming to Nxt.
The trolls are going rabid,
because now Monero is irrelevant.

It is like a reunion in here!!  ;D

Strong words from you, Jean-Luc.  But you certainly are right. Monero was never relevant in the first place. NXT has a strong, organic code base with talented developers like you, who can adapt to any situation. That is the most valid long-term asset of NXT and we are all very grateful.

This was only trolling the troll, thus the haiku style, I have nothing against Monero really. But is it really a coincidence that he went on a rage against Nxt just as it became known that our coin shuffling anonymity feature is going in the next release, thus threatening the major selling point of his favorite coin?

Coin Shuffling. It is coming to Nxt.
The trolls are going rabid,
because now Monero is irrelevant.

00:40:03 shinohai: Fuck java (http://log.bitcoin-assets.com/?date=24-09-2015#1284184)

00:41:35 shinohai: I'm willing to bet you need 13 libraries just to echo "hello world" in java.

00:45:54 BingoBoingo: Java not only sucks, it is owned by evil

00:46:49 mod6: no arguments there

00:46:57 trinque: unblinking, eyebrow-less evil

Monero's ring signatures + stealth addresses are superior.

00:46:49 mod6: no arguments there

Coin shuffling is just another form of obfuscation, which is a functional admission that Bitcoin is not fungible.  Monero's ring signatures + stealth addresses are superior.

As for NXT's brave decision to use a very high level language like Java.  LOL, noobs...

Real men code in VHDL/Verilog.

It's for casual coders, hardcore ones use only https://en.wikipedia.org/wiki/SPICE.

Those are all for amateurs, real coders send the orders directly in electricity packets to the processor and translate that to [0,1] bits.

meh. I am afraid you guys have all had a dose too much of this:

https://en.wikipedia.org/wiki/Brainfuck (https://en.wikipedia.org/wiki/Brainfuck)

The package does have this explicit warning, but you chose to ignore it!

Just like mining farms, NXT will consolidate into large stake pools.

Guys look, NXT has been around for more than 1 year, obviously its a propert cryptocurrency, whoever thinks otherwise is very dumb.

It might have issues now but its is a good currency, I like it personally!

NXT has been around for way more than 1 year

 ;D ;D ;D ;D ;D

Almost 2 million NXT was sold out at this event:

https://www.reddit.com/r/NXT/comments/3n9vvw/nearly_2_mil_nxt_in_under_an_hour_cryptofund_is/

Opinions? (it sure raises capital better than ETH)

it was around 9m NXT total

This thread deserves a bump.

Because NXT is a scam.

Why is it a scam?

;D

perhaps some hopeless monero promotion would help, or maybe integrate it in the NXT monetary system, then at least it will have some GUI

There's not even a GUI?

Holy shit.  That's not even worthy of the Gen 1 classification.

There are like 3+ GUIs for Monero.

You know what has a nice Official GUI?  Paycoin.

There are like 3+ GUIs for Monero.

You know what has a nice Official GUI?  Paycoin.

You are so clueless that you think a GUI is some hot shit next gen tech?  No wonder you fell for the NXT scam!   ;D

So you imply that a coin with a nice official GUI is a scam, because Paycoin was a scam and had a nice official GUI? Or maybe you imply that Monero is not a scam because it doesn't have a nice official GUI? Well, in any case it seems to me that you are unable to defend your position without using one from the https://en.wikipedia.org/wiki/List_of_fallacies...

The first false claim I was correcting was "There's not even a GUI?"  There are multiple XMR GUIs.  Case dismissed.

The other false claim was the purported linkage between the (non)existence of a GUI and which Gen of crypto-cash a coin belongs to.

XMR's tech is clearly Gen 2 (or 3), regardless of zero or a million GUIs.  Class dismissed.

You fail.   :D

There is no official GUI, and the GUI's are bugged, I saw some posts complaining about them. Not a safe way to store money.

And the console interface is a joke, no mainstream usage will come until you dont design a lightweigh PC + smartphone wallet.

A mobile phone wallet is a must in these ages.

The first false claim I was correcting was "There's not even a GUI?"  There are multiple XMR GUIs.  Case dismissed.

The other false claim was the purported linkage between the (non)existence of a GUI and which Gen of crypto-cash a coin belongs to.

XMR's tech is clearly Gen 2 (or 3), regardless of zero or a million GUIs.  Class dismissed.

You fail.   :D

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

NXT is back in top 10

http://i57.tinypic.com/1h5v6e.png

http://coinmarketcap.com/currencies/nxt/


It is not a scam, it is however on the path to the moon, at least that is what my senses tell me. All of us could be rich if we buy now :)

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.

  If you are too much of a n00b to use anything but slick, shiny point-and-click Grandma-friendly interfaces, too bad.  That's probably because you went to shitty schools and had shitty parents who never made you learn anything harder than how to use a graphing calculator.  Sorry about that!

Now let's get back on topic and continue discussing why NXT's scam is doomed to fail!   :)

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!

Why is it a scam?

I'm really curious if there is another coin that managed to make an initial distribution to less than 73 people

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?

an initial distribution to less than 73 people

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.

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")

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 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.

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.

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

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.

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

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.

Yes, let's look at the data...