Bitcoin Forum

Due to the increasing confusion surrounding NXT and the other altcoins in general I think it's time to publish these infographics here.
They are not meant to downplay or unjustly dismiss any of the other cryptocurrencies, but simply compare and highlight the facts and benefits of NXT.

NXT vs Bitcoin

http://oi44.tinypic.com/2e67x3q.jpg


NXT vs Litecoin

http://oi40.tinypic.com/29vcupu.jpg


NXT vs Peercoin

http://oi39.tinypic.com/2mn5hj.jpg


NXT vs QuarkCoin

http://oi40.tinypic.com/r078lu.jpg

lol infographics means i should buy your premine!

No, it means you should actually read them and attempt to comprehend the actual differences between NXT and other cryptocurrencies and not just regurgitate some FUD you've read.

The fact that all coins exist from go is essential and a feature of NXT, it's very different from being premined.
Every person on Earth could've bought into the genesis block, the fact that you missed out (hey, I did too) has nothing to do with making NXT premined. It simply isn't.

lol ok. its not a premine, they only premined them all but they are branding it as a needed "feature"


bAA aaaaAAaAAaAAAaaaaa

How is it like being unable to read ?
I am actually very unsure whether I am to continue this discussion because the less morons involved in NXT, the better, but hey incase someone intelligent comes along that also decided to just skip the infographics (Which explain everything you need to disspell this myth) here's one last try:

A N Y O N E could buy their share of NXT, ANYONE, you, me, Dalai Lama - ANYONE - could buy NXT. There was no limit on how many could buy.
This is actually the EXACT opposite of premining.
Premining means that the creators of a altcoin mines a certain portion (often huge portion) before it's accesible to anyone else, this is the exact opposite of NXT. NXT was available to anyone who wanted to buy a share of the genesis block.

I should charge your parents for having to school you, but given the special education bills they must be stacking up I will let it slide.

Trolling other coins sucks

Nextcoin sucks

Not trolling anything, like I mention in OP: I have nothing against either of these coins.

And if "Nextcoin sucks" is indicative of your intellect, I end this discussion here.

Read the infographics.
If you like it, take it.
If you don't, then go browse another place.

Mature positive feedbacks welcome, no FUD.

write a good concept: proposal of coin distribution in a 100% PoS currency

if it's good enough, you can fork NXT and will be a rich man, right?

(in the meantime read more and write less)

No, every person could not buy it. 70 people on a small forum could. Dalai lama could not buy it, it just stupid to say something like that. "The anyone could buy it" argument just doesn't hold up. There are not enough people on this forum and 70 initial shareholders is not enough.  Like it or not, the coin distribution is horrible. In NXTs defence -  how else could they do it?

I am holding my NXT, even though the coin distribution is bad. IDK if the market will care about that in the future, but my personal opinion of how good NXT is does not validate the coin distribution. My opinion has noting to do with it.

nice try, but nxt sux anyway

Please send ALL the nxt coins to me.  I am a very fair person.  I can guarantee a far more fair distribution on this planet than those 70 speculators.

Send ALL the nxt coins to me, please.

The most successful scams are the ones that make the mark believe he/she needs what is being sold/offered/provided to them. Think about that.

It's actually encouraging to see how barrier breaking POS is, people stuck in PoW can't even grasp it yet.
NXT generation has a long and bright future.

Unfortunately YOU do not understand the NXT distribution model....

Whether is was premined by one guy or 70 (as in this case) the distribution is concentrated and buying in is not worth it.

I can think of various ways of having a better distribution model e.g

1) Similar to the lottery coin were is simple mining process was included until a certain number of block have been generated.

2) a lottery type of distribution based on ones BTC or LTC wallet address and requiring a minimum of a certain number of coins, which can be verified from the block chain and by ensuring that people do not create multiple addresses. Maybe a time delay ....?

3) a serious elaborate marking campaign before they were distributed.

4) a minimum number of say, 10 000 or more, early adopters.

5) Peercoin is a better example of Proof of Stake and distribution model.

etc ....

This is nothing better than Ripple, etc.

The distribution model concentrated in the 70 guys just does not gel for me .... Early adopters ...... that principle is just not fair.....

The other ideas are good, but NXT is not a payment coin, neither is Protoshare nor Megacoin or whatever its name is. So do not compare it to BTC or LTC.

BTW I currently only have BTC, LTC and Protoshare, but I am not stuck to them ....

I like the "NXT"

NXT was created by a group of anonymous Russian programmers who issued 1 billion coins at zero cost.

The model is so flimsy that this group refuses the release the source code in fear that someone else might just issue their own billion coins.

Meanwhile, for all these other coins, time, energy and resources are spent every day to acquire the coins.

So tell me again why a NXT coin has any value other than zero?

I can't believe you are putting nxt above those top coins.

Those who got a huge share for cheap of the 100% pre mined coins, which where made out of thin air,
are doing everything to get it's value up to get rich.

I think that is their greatest fear.  That is why they refuse to release the source code.

Some guy will just fork it and create a fair distribution.   

All he needs is just some digitalocean nodes that he can buy at $5 per month.  No expensive mining equipment required.   Truly a zero cost coin to acquire and maintain.

You had a room of Russian programmers who couldn't afford either the GPUs or the ASIC mining equipment,  so they hatched a plan.   Let us create a coin with zero mining and let's allocate the coins to ourselves and our girlfriends. 

Then let's make big claims like 'colored coins', 'decentralized exchange' etc.   Which incidentally, isn't even implemented!

Then finally, let's have it traded in an exchange with 'funny' money.   Make up a market like there's actually BTC trading in it.

I'm mining Dogecoin and converting to NXT. Fair warning to all miners: use your GPU's wisely in the coming months. As sure as Moore's law still has legs, and as sure as there will be greed in the world, the mining arms race will eventually destroy any semblance of distributed mining. The mining of PoW coins will be captured by the few who can manufacture ASICs.   
The model is already broken. BTC ASIC manufacturers let their geese lay the golden eggs, then once they have new young geese they sell you the old geese for profit. Dagger and sCrypt Jane will only delay the day that Moore catches up. PoS is the way forward.

There was never going to be a fair way to distribute NXT. Get over it. NXT will succeed because of the very active community-based development that has sprouted around it. The market cap will eventually reflect the usefulness and extensibility of the platform, as well as the environmental footprint. You are staring at BTC in 2011. It's made some headway, the first bubble has popped, and attitudes around here have turned sour because of the price. NOW IS THE TIME TO BUY.
For the record, I am not a founder, not even close.
 

Why would I buy when I can just wait for the source code to be published and issue myself a billion coins?

Quark fixes this problem with their short mining period. You should probably look into it because you're betting on the wrong horse if that is your main concern.

+1 very wise words, BTC and all mined coins are barbaric and destroy the earth.

Fixed.

PS: I was missing u too.

Oh didn't you know? source code is out since 3th of january. you are to late now other clones will be first.

You can do that, but you will have a hard time forming a community that will work for free to build cool shit around your platform. It's not all about the money. Do you want to copy/paste/masturbate or do you want to build and do useful things?
Hate it if you want, but Nxt has critical mass.

 

He is already too late. Such coins as VisaCoin (https://bitcointalk.org/index.php?topic=384097.0/) and Neon (https://bitcointalk.org/index.php?topic=400356.0) almost finished their IPOs...

This

I still contend that Nxt fast forwards to the end game. Eventually the PoW coins will have to rely on transaction fees and/or inflation to pay the miners. So it's duly noted that Quark will get there sooner than most.

100% Proof of stake.

Have these Belarussian programmers ever heard of a stock exchange?

That's what it is, issuing stock is 100% proof of stake. 

So where's the innovation?

Of coz - http://en.wikipedia.org/wiki/Monopoly_(game)#Stock_Exchange

The key point is not that 73 guys hold the initial value, but how they distribute their coins smoothly to the public.

i like NXT but to maintain a wallet is damn difficult and complicated. I think there should be an easier way to do this. If not, many future investors will stay away. That my 2cents.

I understand that Nxt clients are in development that will use the wallet.dat model (i.e. the pass phrase is stored in a file instead of your brain).
 

This is begging for an iXcoin vs. Nxt infographic.
I'll offer Uniqueorn a bounty of 4000 NXT (or equivalent IXC lol) to put one together.

Today's market volume:
Nxt VOL 147 BTC.
iXcoin VOL 0.45 BTC.
Lulz.

Thank you, I will take Nxt:
15003961341330858247

https://i.imgur.com/dwlaVVr.jpg

To those complaining about Nxt distribution, if that's your concern then you better get out of Bitcoin as well. According to http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=275000
1.18% of all non-trivial bitcoin accounts hold 68.89% of all bitcoins. This is after 5 years of distribution.

Here are some more stats pulled from:
http://nxtcoin.blogspot.ca/2014/01/nxt-volume-history.html

Nxt
28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
vs:
Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x

By these metrics Nxt's distribution is already fairer than Bitcoin's. This is after roughly 1.5 months of distribution, and it'll probably improve even more in the coming months.

And to those who are having trouble grasping Nxt's revolutionary innovations, here's a great paper written by Anon136 that goes into a bit more depth than the infographics. He voices a valid concern about Nxt's distribution, but I believe my above post shows that things are moving very well towards a much better distribution.

If you don't yet know what "Transparent Forging" is, read this paper. It will be very important in future if cryptocurrencies are to have a hope of rivaling credit card network transaction volumes.

https://docs.google.com/document/d/1E_ToOMG2l1XThx6YnyXEajXaf6H1k2yjq8XkAF0ScB4/mobilebasic?pli=1

I was not allowed to buy NXT during the pre-sale, so the claim that "every person could buy it" is false.

iXcoin, what is X there? It was premined, that's why "X" was used, iirc. Did FC regenerated the genesis block?

proof is required

I think he doesn't lie. He missed the train coz read posts of some other guy, who was guessing when the fundraising would end.

propaganda  :) Next = ground during the next months. It has to be to restart healthy and with a decent client that does not require manually launch java crap in the background

Yet another uninformed idiot spewing stupidity.
A decent client is being developed, several actually, that will be 100% userfriendly. Have you still not managed to understand that NXT is still in beta?

This is what cracks me up, first the community is given a chance to buy in for basically nothing and people are like: "Nah, it's probably a scam".
Then when it turns out it wasn't a scam, they whine: "oh well it'll never grow" then when it grows thousands of percent people are like "OMG WHAT A SCAM, I WASN'T HANDED FREE NXT WTF ISTHIS?!?!?! I COULDA BEEN RICH, BUT NOW I AM NOT, WHAT A SCAM!"
But even then when you are still given a chance to get in while the price is still reflective of beta stage you want to wait even further until it grows thousands of more percent, at which point you will go to your shrink and ask him why your head is all fuckedup and constantly losing out on chances to become rich.

Lets face it, guys, NXT is winning. 
Trolls are either too dumb to figure it out or they are slowly realizing that they are, in fact, on the losing side.


@HinnomTX; Love the mine DOGE/buy NXT strategy, btw, full of win in a very strange way.

I've posted it over at https://bitcointalk.org/index.php?topic=407388.40 .

The real difference between iXcoin and NXT....   iXcoin has a block chain that is 2 1/2 years old and a hash rate or 5 peta hash per second,  so you need a lot of money to buy the chain.

NXT has a block chain that is a month old that does not require energy or resources to create.   Anybody can create a new NXT and issue themselves a billion coins.

So even though I have taken over development of the coin,  there is no way I could regenerate all the coins created in the block chain.   It is there for all eternity.

Contrast NXT, if someone forks the coin,  he can issue himself 1 billion coins,  claim a fair distribution and NXT would have a direct competitor.  There is no barrier of entry. 

Most alt-coins, the barrier of entry of creating a new one is very low.  However,  to create a coin with 5 peta hashes of network... that is extremely difficult.

NXT pre mine bag holders are trying too hard to get rich

What is X value? 100%?

they are rich now, but you can be rich too, buy 1 million nxt and wait 1-2 years, than you get million of dollars.
Nxt rise in the last 24 hours over 100%, and it will not took long than nxt will reach 1 Dollar!
Why, because nxt today get on a chinese exchange site.
Then 10 Dollar, and more.
Now it cost only 0,053 Dollar, yesterday it cost 0,025 Dollar.

Yes, the opportunity is there. There is usually a big run-up when a coin get listed on an exchange.

Not in the business of knocking ixCoin (shit, I own 200, and it seems like a solid, stable crypto), but just to point out the flaw in FCs reasoning here: If u simply clone NXT, u end up with a billion coins but no community backup, no further development efforts.

The barrier of entry is to making a direct competitor is the accumulation of skills, marketing ability, money and commitment that the NXT core community represents.

(And, btw, i am so not a big NXT stakeholder. Not in the initial distro, bought all I can afford since Xmas, which is around 10,000 NXT at the moment)

The thing everyone should understand about NXT is that the revolution has just started.

Transparent forging, colored coins, asset exchange, messaging, userfriendly client, universal apps for android and ios, getting added to more exchanges, tons of PR, a lot of news articles etc. is around the corner.
NXT will become so much bigger over the next weeks and months.

And plus all the myths about premining etc. has been shattered here: http://nxtcoin.blogspot.com

So anyone who feels that they missed the train: you didn't. There's still TONS of profits to be made here, we have just started building the train, get aboard

Wow I actually wanted to buy some NXT but now that I learned its 100% premined coin I think ill pass. Its just another pump and dump, get rich fast scam coin. I bet only 1% of nxt addresses hold 95% of all the coins just waiting for the price to go up and dump them on the exchanges.
It has been done before and will happen again in the future in this or another way. The only question is how many people will get tricked into buying this worthless stuff.

I am so tired of this idiot shit. Why can't you just read?
WHY? PLEASE answer this, why would you not just read!?!?!?

https://bitcointalk.org/index.php?topic=421097.msg4577724#msg4577724

Coz he is a troll. Nuff said.

I like the infographics at the beginning of the thread. These are a good way to highlight the project. While I have personal issues about how the pre-sale was handled, I do think NXT is a good addition to a portfolio, even at its current price. I don't want to be responsible for other people missing out on a good investment over my personal dealings. I've installed the client, received some NXT, amazed at how fast it is. I'll be trying some other features.

Why can't there be more people taking this as an example? If you have both faith and doubts in NXT and/or the ideas it holds, why can't you buy a few NXTs, hold it, and see where that will bring you?
In the meantime, you can use the time to educate yourself with NXT (or cryptocurrency & economy for that matters), perhaps even make some contributions to its development. Or you can just stay away and watch it goes where it goes?