Bitcoin Forum

http://www.bloomberg.com/news/2014-07-18/bitcoin-dominance-challenged-as-danish-bourse-offers-nxt-trading.html

challenged by a scam coin

Yes I think Nxt will challenge bitcoin.

Feel free to jump into the friendly community over at: https://nxtforum.org/

Don't forget NXT is a proof of stake coin.

It is not decentralized and has a single point of failure.

Until now most alts were traded for bitcoins, creating extra bitcoin demand, but if they start trading directly for fiat
then there will be some extra seller pressure on bitcoin. Challenged, I don't think so, not yet.

Who control the supply and distribution of NXT coin?

Your second phrase doesn't follow as conclusion from the first. Why do you claim it has a central point of failure?


AFAIU it was like MasterCoin, an IPO-like thing. All coins were created in the genesis and distributed proportionally to initial investors. There's no inflation.

Sorry, I don't want to sound harsh, but people repeat this sentence like parrots...

Nxt has 25k+ wallets with a balance greater than 0 and  a lot of active nodes
It doesn't use central checkpoints like peercoin

Where is the single point of failure and why is it not decentralized?


The more "scam" shouters I see here, the more I get the feeling that Nxt is indeed challenging bitcoin.
"First they ignore you, then they laugh at you, then they fight you, then you win."

I think we are at the beginning of phase 3.

No one controls the distribution of NXT coin, because distribution is over since November 2013 (after two months of open IPO): https://bitcointalk.org/index.php?topic=303898.0

Supply is controlled by every Nxter, here is the current distribution: http://charts.nxtcrypto.org/cDistribution.aspxhttp://charts.nxtcrypto.org/cDistribution.aspx

NXT was one of the most promising coins of 2013, but in 2014 has proved it wasn't only a common altcoin,
but a new different type of virtual currency. For this reason it was called the successor of bitcoin by many users here.
In my opinion in the future it will eventually be placed side by side with btc, but I don't think NXT will ever substitute it.

+1

NXT has a ton of amazing development but I'm not so sure it'll ever shake off the stigma of the appalling initial distribution. That's the first thing that most mention about it even now.

If it wasn't for that I'm sure it would've surged ahead by now.

Delusion...

Asset exchange, multigateway (Yes you heard it, trade all altcoins in a decentralized manner on the nxt platform) and a ton of other features that are coming.

If all this is not promising.. It's funny how bitcoiners try to trash Nxt just like Fiat holders trash bitcoin.

Best thing is, these two features are already launched and work.

More to come. Btw it was launched in november 2013, so it is less than one year old. Check the GUI and see what a 2.0 coin is about.

Best part is that they are complementary. Most Nxt holders are true bitcoin believers, we complement bitcoin in various ways.

It already happened, NXTUSD, NXTEUR, NXTCHF, NXTGBR etc.

https://www.ccedk.com/nxt-usd

They take SEPA or SWIFT

NXT has a corny name, it will never catch on. It's trying too hard to be the next best thing.

There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R (https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win.

Lol honestly I think that's the one biggest drawback to NXT -- what a terrible, terrible name.

Make the BTC richboys even richer?

Interesting idea there. It may be that a usurper uses this route to dominance in later years. But lets be honest that isnt going to be popular with users of altcoins that have bought in specifically to acquire early adopter status in the nxt big thing.

Anyway this is a bitcoin forum. Can we get back on topic please!

And a billion units.  Even if NXT survives long term, it'll take 10+ years for a single NXT to even reach $10 parity.  Even at $10/NXT, you still wouldn't be able to run large financial markets on that.

Plus, the initial PoS distribution is even worse that Satoshi having 1M btc.  In the NXT world, they'll be at least 12+ such Satoshis to rule the entire NXT kingdom. Also, many of NXT's supposed "2.0 features" are not even implemented, so they are complete vaporware.

But Shhh! don't tell the NXT zealots all this stuff.  They don't seem to care about the truth.

No thanks.

So there's no mining with NXT. Who keeps the computer making transactions online, and why ?  How are the transactions processed ? And I understand they are much faster than bitcoin ?

Who and why: Everyone who wants to support the network, or to get some transaction fees (the block generator gets all fees)

Transactions: The forger that generates the block includes the transactions and signs the block. Forgers are chosen basen on the Nxt Proof of Stake algorithm (chances to forge a block a proportional to the effective stake in your account)

Block time is 1min, compared to 10min of bitcoin. Some devs are coding "Instant transactions" as we speak.

Please, show me an account or a holder of a 10% balance. Last time i checked biggest holder had 45Millions NXT (4.5%).

Vaporware? Let's see:

-Working asset exchange
-Alias
-Balance leasing
-Encrypted messaging
-5 different GUI
-Decimals
-Multi gateway
-Token
...

Please make some researches before trolling. Trashing is easy when undocumented. I base my thoughts on facts.

It's no scam-coin. I think it's the best shot at a true proof-of-stake mechanism, and not just a blatant rip-off of the bare bones of bitcoin with an adjusted mining algorithm, another retargeting algorithm and a funny name. But it may ultimately fail, as well. We saw promising performance with Litecoin. RIP, little silver brother of BTC...

Quoting you.  Let's revisit this little comment in 12 months, and compare where Litecoin is compared to NXT, mmmkay?   :D

Ha, yeah let's do that :D
I wouldn't want to bet anything on that and it's my pure gut feeling. But that'll be fun! :)

Let's see:

Satoshi: 1M/13.05M = 7.66%
Biggest Nxt Stakeholder: 50M/1BN = 5%

The thing is that with any coin there will always be someone who is a late adopter and finds the distribution unfair and hence there will be the demand for a new coin n+1 no matter if it actually is needed or not.

One thing bitcoin has that no other coin has is that it is the original.

I love the feature argument that is usually made with alts on why they are so much better than bitcoin.
You may think you have the swiss army knife of cryptos but that still does not make it any better at chopping down trees.

But it's a good way of trying out new features. After all, these coins coin emerge in side-chains of bitcoin. That way we could profit from their potentially unique features and still remain in the big and 'established' bitcoin universe!

Sorry boyos, Bitcoin is KING.

But it will be very popular with bitcoin users, and there are a lot more bitcoin users/investors than altcoin users/investors.


By the way, the topic of this thread is NXT.

This is a bitcoin speculation forum. Not a forum for the discussion of altcoins.

No it's not.  It's "Is Bitcoin's dominance really about to be challenged".


I'm not for or against NXT or any alt for that matter, but take this garbage to the alt subforum.

Just like bitcoin haters, you guys never change. Not open for discussion. Is sad, history repeats itself.

There's a place for this discussion.  It's in the altcoins sub-forum.  Not here.

Soon, once bitcoin and every alt coin start being traded for free on the anonymous decentralized multigateway, people will eventually stop bitching about the IPO.

NXT won't be replaced because NXT have arguably the best developers in the crypto world. Can't replace that.

Nxt couldn't challenge Bitcoin Dominance but Monero can in near future. Nxt is pretty innovative but people dont like pos coins and distribution method of Nxt also wasn't fair.

I own both BTC and NXT but I don't think BTC's dominance is about to be challenged by NXT. Not by a long shot. I do see NXT overtaking LTC in the future and perhaps take up to 5% of BTC's market cap but that's it. I also see nothing wrong with the distribution of NXT, it's definitely not worse than that of BTC.

While I don't endorse NXT and think it's a kind of lame ripple clone I think it's great if they are trolling mainline Bitcoin zealots.

Perhaps I'll buy some. :)

lol i think NXT and BitCoin are same shit and will go down together.
When Satoshi and NXT bag holder will dump.

Ripple is closed source centralized crap, NXT is way superior and also not a clone. I remember you thinking Bitcoiners would get all paranoid about Ripple lol, I guess that didn't work out so well so now you look for other ways to diss BTC. Yeah go buy some NXT if you think that that would hurt the pride of those Bitcoin cultists you hate so much, I'm sure that will teach those noobs! Nobody cares really but whatever makes you happy in your own little fantasy world.

ur dumb

lol


I'm posting about my little fantasy world disturbing your collective delusion.

We will see but NXT have evolved the most from all altcoins that i know. On pricing developing and support.

You may probably bee right in all but this only need to happen.

Dude, who let the G.D. sales force for these damned things on here to troll. NXT... ain't that one of them girly, fuming fake cigarettes?

Actually these "trolls" you are talking about - many of us are large holders of BTC. Just like there are large holders of BTC invested in alts like XMR.

Its natural to diversify.  Its just that there is a lot of FUD spread about Nxt. The developments of Nxt and its platforms are simply ahead of the curve and revolutionary in the industry. I am still 90%+ in BTC, but I'm not dumb enough to pass up investment in a 2.0 that is changing the game. Its only a matter of time before Nxt is solidly in 2nd place from market cap to media exposure. It is already firmly 2nd place in worldwide development of infrastructure.

Already... a lot of it sounded more like it came out of a press shop than the normal chatter on here. Fair enough.

Yeah, just quoting what I read from the internet.

Enlighten us how having 25k wallet make it not a decentralized coin.

Oh really? What exactly is closed source in Ripple and can't be found on https://github.com/ripple? ::)