Bitcoin Forum

Bitcointalk has never again seen real overnight millionaires as it has with Nxt. They were at the right place at the right time.

Frankly, a lot of money in hands that aren't used to savings is a dangerous affair.

How many of the Nxt millionaires still have money left?

@bluemeanie, you were a NXT millionaire after you stole the 1M from jl777 and the other investors in NXTautoDAC.

What happened to you? Tell us your narrative ...

I got a proof that he is 99% not BlueMeanie.

Sharing is caring ..... looked like a classic sockpuppet malfunction exposed the truth

   KLONE, I've never seen you before. Who are you?

   Come-from-Beyond tells the truth. I am not operating the bluemeanie social media account(s).

You're either bluemeanie, or a bluemeanie impersonator, or you bought the Moneroman88 acount after Oct 2014

UtopianFuture (TaunSew) found  out the user of your account from that time

TaunSew is a nut. :)

I've never been and will never be Joshua Zeidner. Joshua Zeidner is a nut. Moneroman88 is Moneroman88, account has never been sold, never had its password changed.

Let's stay on topic here.

Explain your post below then

That's all the Nxt people talk about after the failure of the project (some weird guy who nobody cares about), because facing reality is to hard.
The interesting thing here is that Nxt had a massive upswing, and the deflation was way too rapid. Never mind the code quality and general trust issues, but this can break a project. It would be interesting to consider a system which can be more adaptive to price movements. In non-algorithmic distributions this is possible, but for Cryptocurrencies it is close to impossible to estimate the future value.

On Nxt itself. Pure PoS is actually not a bad idea. The simplicity of the system is a major advantage. But Nxt was centralised in development and has a lot of garbage in the codebase (from the beginning). Crypto-assets the way their were done on-chain don't work. The Nxt assets were mostly or all fake (one would need trust guarantees of some kind to make this work).
 
I don't know of people who cashed out. I know various Eth holders who are millionaires, but contribution to the project are not necessarily correlated with financial success. Actually having developers/founders getting some early equity is not that bad a model, rather than investors only who buy the currency in the early stages.

https://i.imgur.com/NlA1JPM.png

PPC to compare

https://i.imgur.com/d3IxQQh.png

I have seen several similar to situations. Its not necessarily known to the people at the time that will get rich, in part by randomness. Say you were a Nxt investor and put in 100$. Now you have 100'000$ and sell. Then the amount goes to 1M$. Not selling early is hard. Or the same people will squander their new sudden wealth with new adventures. it is interesting to observe this new wealth distribution mechanism at work. The more interesting opportunities are structural and thoughtful investment, not ICO lotteries.

The reality is that the project is not finished yet. It is not hard to see. The rest is bullshit.

Honestly, if people are going for investing in opportunities that are 'interesting', 'structural', and 'thoughtful', they wouldn't be investing in altcoins in the first place. The ONLY reason people invest in altcoins is for profit. If someone seriously believes in cryptocurrency appliances to the real world they would be investing in Bitcoin start ups. It's as simple as that.

Dude, these days only kids believe this bullshit. And bagholders who bought 1000$ bitcoins.

Are you implying these new fads like Lisk and Waves have a bigger potential to impact the world than Bitcoin? There is a reason why countless big name companies are investing time and money into researching Bitcoin, and not these flavor-of-the-month shitcoins. If people are bullish on cryptocurrency and they want to make a meaningful investment they'll find it in the organizations that seek to use Bitcoin for concrete, real world purposes.

Bitcoin is not scalable. It's good for few hundreds geeks, but not for world-wide adoption.

How true!  There is, however, one crypto that is superior to the rest. 

There are many roads that lead to Rome. A market with many competing cryptocurrencies is far more healthy than a Bitcoin monopoly.

What's important is that all these different approaches - from Bitcoin to Ethereum, Iota, Lisk etc. - contribute to improve cryptocurrencies in general, one can learn from another. "Fanboyship" for one single currency is mostly based on greed. Bitcoin is the leader, for now, but that can change, or not, who cares. And yes, Bitcoin has a scalability problem. Not only because of the blockchain size.

Much agree. Albeit I think the reasons are very complex. Bitcoin first of all is cash-only system. It is not as capable as the things that one now might imagine to implement. The other big reason is how trust will be required to "scale", and compliance. Does scaling mean that companies use it and states accept taxes denominated in it? The Bitcoin debate about scaling is laughable (Sidechains, SegWit, Lightning and other failures).

Of course Nxt it is finished. Some ideas in the PoS design were great, but the momentum is long lost. many flaws in the concept itself as well.

Any Nxt millionaires who invested in new PoS and ICO's? Eth and DAO shows recycling of wealth is important...

Can you clarify where do you see flaws in the Nxt design? (It actually does interest me). For me, the only problem is that it's a bit monolithic. Perhaps it should be more modular. But I'm no expert, I haven't studied the code (and I don't speak Java haha).

Do these "flaws" apply to Nxt 2.0 too?

NXT has no real world applications for the average user, this combined with its use of java killed it

That is nothing that cannot change from one moment to another. In my opinion, NXT is simply in a little depression, like Bitcoin in 2014.

NXT is not only "financial tools" and "asset exchange". There is also the Marketplace, the first working decentralized marketplace for non-financial goods and services (or payment processor, like you want) of all cryptocurrencies. There is Coin Shuffling.

Also the "monetary system" is not a bad idea. It can be used for games or by businesses. Sure, the NXT transaction fee is a big flaw. That's why Nxt 2.0 is being developed.

Regarding "real world shops", there is really a deficit, but that can change. NXT is still integrated into the CoinPayments payment processor which makes adoption very easy.

(And no, I'm not a NXT millionaire ;) )

Considering I hardly ever remember seeing daily volume more than a few tens of thousands of dollars I think we're mainly talking paper millionaires. Having said that it would still have been a very, very nice drip feed of profit while it lasted. I used NXT for a while. Being a non techno weenie I found it pretty agonising to use. It took six hours to get them on an exchange. Dunno if that was the exchange's fault.

I guess that should have been a problem with the exchange. I have also used NXT many times and this never occured to me. Most of the NXT I sent to or from an exchange in 30 minutes (often in 15 or less) were there and had the necessary confirmations.

There was, some months ago, a problem in the blockchain related to the difficulty that led to a timeframe between blocks of 10 to 20 minutes (only for a short time lapse). This problem has apparently been fixed now (I think it was in NXT 1.7).

I'm curious as to what the "big flaw" is?

That user needs NXT to spend his MS token.

So, is this thread summarizing the currently (and probably future) feeling about NXT?

Really?  That's the "big flaw"?  That a user has to pay a tx fee in NXT?  NXT is supposed to be a transactional currency.

I think it's a serious usability flaw, and it seems to have made unattractive the NXT monetary system.

For regular (non-technical minded) users, a currency that needs an auxiliar transactional currency to work is way more difficult to understand than a system where the fees are in the same currency. Every MS Currency user must have two accounts to be able to send transactions. Imagine MS game currencies: Most gamers don't care about cryptocurrencies (they're often very young), and they shouldn't have to understand it in detail to use it.

So the "fee-in-MS-currency" approach of NXT 2.0 seems superior to me than the actual approach.

The anonymous characater DecentralizeEconomics aka 2Kewl4Skool is still posting. Congratulations on winning against the ban evasion.

You really are special but still not noteworthy.

The big flaw is bloat and scalability.

NXT actually be undervalued,what a pity!

I don't know if anyone got lucky and became a millionaire with Nxt... I do know that a lot of people amde some money but they didn't got rich.

reading this is quite funny, considering nxt's to the moon right now

The moon? No, not quite. More like on a gentle hill. The moon will come later.

The initial investors of NXT, especially those few that invested like 1 BTC got VERY much rewarded with riches indeed,   definitely millionaires.

I think it's the biggest story of gain there ever was in crypto land - only NEM comes close in gains (but not as "overnight" as NXT).

~CfA~

Looks like their moment in the sun is returning. I wonder how many stuck around and how much better the distribution is now. If this new coin depends on wallet balances it may get considerably worse. There's a ton of ETH money looking for a home.

on a sidenote burstcoin is based on nxt

they sold their coin, or waiting to move them on nxt 2.0, you can see the project here, called ardon if i remember right, i remember also one guy that was like the god of nxt selling here his stash because he was not believing anymore in his coins

I guess NXT has always been one of the best projectz when it comes to da tech, it's pretty awesome actually --well, the initial distribution is another part of it and this is the parting of the ways...

just like with Moanero--although not that bad by any means--I really don't like a few ppl of their community but that's another story

~CfA~