Bitcoin Forum

Still a better distribution than Bitcoin =)

]
It is refreshing to see a 'Nxt distribution' thread based on the *current distribution* and not based on the *initial distribution* that occured 8 months ago. You are a true pioneer  Cheesy

Actually the distribution is way worse than that.  We were initially told, for a long time, that it was 20 wallets who invested the 1.5 BTC limit and took 80% of NXT.  

http://nxtcoin.blogspot.ca/2014/06/how-nxt-changed-our-lives-james.html

Then James, who is a developer for NXT, only admitted a month ago that it was actually only 8 wallets who invested the full amount and took almost half of all NXT.  There was no taint analysis and we can't even ascertain if any real BTC was actually put in among those 8.  We can only name like 4 NXT whales on the top of our heads and it's quite likely at least one of them had multiple sockpuppets in the IPO. 

So in a nutshell easily 30%+ of NXT was owned by one person at some point, it's guaranteed, and then maybe another 5-10 people owned another 60%.

It's very easy to get a huge capitalization if you own all the coins, just look Marine Coin, Neutrino, Ripple, et cetera.  The difference is the NXT people kept the distribution a secret until January / February and by then they had plenty of BTC reserves to create artificial volume anytime they wanted.

I remember once pointing out that NXT itself had less volume than its' assets and as soon as I made that post, I kid you not, the day after they pumped the NXT volume to $120K.

Actually the distribution is way worse than that.  We were initially told, for a long time, that it was 20 wallets who invested the 1.5 BTC limit and took 80% of NXT.  

http://nxtcoin.blogspot.ca/2014/06/how-nxt-changed-our-lives-james.html

Then James, who is a developer for NXT, only admitted a month ago that it was actually only 8 wallets who invested the full amount and took almost half of all NXT.  There was no taint analysis and we can't even ascertain if any real BTC was actually put in among those 8.  We can only name like 4 NXT whales on the top of our heads and it's quite likely at least one of them had multiple sockpuppets in the IPO.  

So in a nutshell easily 30%+ of NXT was owned by one person at some point, it's guaranteed, and then maybe another 5-10 people owned another 60%.

It's very easy to get a huge capitalization if you own all the coins, just look Marine Coin, Neutrino, Ripple, et cetera.  The difference is the NXT people kept the distribution a secret until January / February and by then they had plenty of BTC reserves to create artificial volume anytime they wanted.

I remember once pointing out that NXT itself had less volume than its' assets and as soon as I made that post, I kid you not, the day after they pumped the NXT volume to $120K.

You could have just quoted the article: ;) :D ;D

There were 8 full BTC investors that each got 50 million NXT. The rest of 73 got mostly much smaller amounts. I cant say for sure, but I believe half a dozen of the original 8 (I am not sure who the other two are) have given away or sold off half or more of their 50 million along the way. It is simply a very hard thing to not cash out hundreds of thousands of dollars of profits! The smaller holders have most likely sold an even larger percentage on average than the half dozen..  There are probably a couple dozen early adopters who purchased 10 to 50 million NXT on the open market. I would say less than 50 of the original 73 and early adopters who got it at 1 BTC per million NXT (!!) still have more than 10 million NXT. probably less than half a dozen still have 50 million and most of those would be the early adopters and not the original founders. So roughly 25 USD millionaires at current 6 cent prices would be my guesstimate. Most of these are down to their long term core holdings and most likely wont sell at any price, short of $1, cuz they already have all the fiat they need. Whats the rush, especially now that NXT is where it is? This means the active liquid NXT is probably around 250 million total, which is still plenty especially with the normal trading volumes of 1 million NXT per day. The deck has already been shuffled, I dont believe there is any organized coalition that can come up with more than 10% to 15% of all NXT. If you know people, you will know how hard it is to get any half dozen to agree on anything! I dont believe any other crypto has this level of dispersion

He's right. There is actually a huge community of shills - about 1000 1766 of us. We hang out here -->  www.nxtforum.org (http://www.nxtforum.org)

Here you will find out everything you might want to know about the release of our Digital Goods Store, Multigateway Decentralized Trading Exchange and Decentralized Asset Exchange.

He's right. There is actually a huge community of shills - about 1000 of us. We hang out here -->  www.nxtforum.org (http://www.nxtforum.org)

Here you will find out everything you might want to know about the release of our Digital Goods Store, Multigateway Decentralized Trading Exchange and Decentralized Asset Exchange.

You sound brainwashed. Look at the bigger picture. You will never get rich on Nxt if that is your intention.

http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12 ?

Actually, you sound a little brainwashed.  ;D

Nxt will most likely have a larger market cap than Litecoin in 6-12 months. Potentially sooner. Nxt has a world wide media campaign going into effect soon. It will be 2nd in market cap only to Bitcoin. Its just a natural law based on the momentum that is occuring in its eco-system.

There are many things that can't even be discussed publicaly in detail at this point - like brick and mortar banks that have approached the Nxt eco-system regarding real world global business transactions.

So, I don't know if it will get someone "rich" - but seeing an investment grow 10-20x in 6-12 months. I think a lot of people would be happy with that.

I presented up to date facts on why Nxt is a scam. You present brainwash dribble about all of these great future plans and how your overlord will reward you with second place on coinmarketcap LOL.

YOU are the zombie.

I applaud you though. You almost got that sales pitch word for word from when it was dribbled to you.

I love how on the one hand OP feels the needs to make a "WAKE UP" thread, apparently for the benefit all the "Nxt shills" and then contintues to slag off the "Nxt shills".

Now I know Oscar Wilde has said consistency is the last refuge of the unimaginative, but that's quite a leap of imagination there :)

I also love how you claim "FACTS" (sic) and then don't present them. Ah well. If you ever find your conclusive "proof", I'd like to see it.

Anyway: upcoming Digital Goods Store!
If people know of Indie musicians or game developers, have them have a look at it.
It's a great way to take distribution into their own hands.
On the 15th of August Sinan Boom is going to launch their new EP on it: https://soundcloud.com/sinan-bom
Do them a favour and buy it.

The BTC can be viewed by anyone to see which amounts were donated and when for the original 21BTC that has been collected. You failed to mention James also said that more than half of the initial stake has been sold off.

I have seen you continuously attempting to create the idea that Nxt has kept secrets, that the distribution is dark  But the facts are, you can track the BTC donations on the BTC blokchain before Nxt was launched. The Nxt blockchain shows the accounts who got what and where it has been since. This 'revalation' of yours holds no weight, the initial distribution and movement of Nxt since is completely transparent by design.

Do we have any proof for any of your other claims? Did you know that satoshi owns more than 80% of all accounts of all cryptos and he created more than 100% of every coin? It is on a forum so it must be true.

If you have great facts let's see them. Colaboration would be obvious and easy to track in the blockchain, all transactions are recorded and linked. Please post the links showing this colloboration. *posted with and without a plug for MGW at the end*

As devphp as already told you in the other FUD thread, "Bruteforcing a bad wallet password has nothing to do with hacking NXT as a technology."


And as I have alrady told you in the other FUD thread...


"
While I'm here, did you know there is a bounty available to anyone from the 'java is rubbish' and 'nothing at stake' crews? It is currently valued at a large chunk of 40 million dollars!  Got to be the biggest bounty in crypto history!

All you have to do is exploit the easy, obvious weaknesses and terrible flaws in NXT and POS in general that are repeated endlessly and you will be able to claim a big chunk of the Nxt market cap. Easy money folks! So... on your, marks, set..... GO!!!


*waits for Nxt market cap to be drained to zero*

"
*posted with and without a plug for MGW at the end*

I read somewhere on here that Sataoshi mined about a million bitcoins to keep the network running when he first launched bitcoin. He could dump those any time he wanted. Does that make bitcoin a scam like you are claiming Nxt is?

Thanks for showing our bad the Nxt supply is compared to BTC. There is likely LESS than 100 people who owner OVER 3/4 of the Nxt supply.

He's right. There is actually a huge community of shills - about 1000 of us. We hang out here -->  www.nxtforum.org (http://www.nxtforum.org)

Here you will find out everything you might want to know about the release of our Digital Goods Store, Multigateway Decentralized Trading Exchange and Decentralized Asset Exchange.

For instance, the Nxt Asset Exchange has multiple Assets that have a market cap that would be in the top 50 of all current alt coin market caps.

The total market cap of all current assets is over 20 million$. And it really hasn't even been released (marketed) to the public yet.

Since Nxt carries value from being the currency backing this platform, Nxt is already undervalued. Any other company that supported a $20 million market place in its first 6 months would be valued above $50 million if it were a venture capital investment.

Nxt current market cap is probably equal to somewhere in the $100 million - $150 million range today, based on its utility of the asset exchange alone. Meaning, conservatively speaking, Nxt is currently undervalued by about 200-300%.

Market conditions will close that gap eventually. And more likely sooner rather than later.

How is it 'fake volume' if people are trading for profit in their own interest?

Does an instant win promotion in potatoe chips with a $200 prize create 'fake sales"? You're reaching Atoni...

Hello again Atoni  :D

MGW isn't a centralised exchange, the software keeps the funds safe in small amounts in a large number of accounts. There isn't one account to hack so as long as you can run servers, you can run this almost decentralised exchange. And the code has been release with Universal Multigateway (uMGW) so any crypto community can run their own cluster of MGW servers.


Can anyone provide any proof for these claims about who holds what? The blockchain would be a good start. I think I asked you this last time *waits to be ignored again...  ::)*


There are scams on the internet, do you blame the internet for these? Nxt AE is a platform. Each promoter of an asset has to convince the investors that they are legitimate, there is no central leadership in the Nxt Community. So there is no endorsement of any assets. Buyer beware, but you are right. There are a dozen or so excellent projects on there.

Re: the trading competition that jl777 ran for the launch of polo, you ignored my last reply.




There have been half a million Nxt traded on the AE in the last 24 hours (htttp://nxtreporting.com/assetcap.php), is there another decentralised exchange that is more successful?

Problem with POS currencies is not the distribution per se, but the fact that probably 3-4 people control 75% of network as in POS your stake determines your importance to network.

Hi atoni

Your estimation seems to be off, please take a look at this chart: http://charts.nxtcrypto.org/cNoOfAwardedForgers.aspx

The 800 blocks that are forged daily in Nxt, are forged by 100+ different accounts.
Which means: There more than 100+ forging nodes, but not all of them forge a block every day.

Your logic seems to be off. My post meant that 75% of network is controled by a couple of people.

Problem with POS currencies is not the distribution per se, but the fact that probably 3-4 people control 75% of network as in POS your stake determines your importance to network.

So you say its almost decentralized.......its either decentralized or its not. Being that its stored on 3 computers most likely in same room seems very centralized to me. I am sure larger bitcoin exchanges run on more computers than that.

My proof for distribution is what James said in that article, that 250 million of nextcoin was released which means 75% is still held. I am very sure all bigger next holders (there are probably only a couple of them) know each other very well so James wasnt lying.

I was talking about scams in terms of market cap. If wind took out those scams as market cap he would get a lot different picture.

How is it not fake volume if he writes.....We need to get volume up there, I will pay 10k to person with most volume? (we have seen how the volume ended after his "promotion") Last time when it was on coinmarketcap it was at 87 USD volume.

Yes there is another decentralised exchange more succesful, Ripple, check the volumes that go on within Ripple network.

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

I told you where I get that number. From James's mouth. Of course, it could be he is lying

I told you where I get that number. From James's mouth. Of course, it could be he is lying

I told you where I get that number. From James's mouth. Of course, it could be he is lying

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

I dont support Ripple, I only use it to move funds between exchanges. (I hold 2000 XRP for transactions fees, that is not even 1USD now, and so far in 1 and a half year of using it I didnt even use a single XRP so most likely I will never have to buy them again)

And XRP is not distributed yet. They only distributed 8,2% of all XRPs.

LOL, you are foolish. First you need to go again to see difference between distributed and centralised. Second I think you dont understand Ripple at all, if you did you wouldnt write such idiot thing. Third just look at how many coins have asset exchange (and had it before nextcoin) and tell me that its really hard to do :)

Why isn't this guy banned yet ?

You're happy to use a distributed exchange, the holy grail for a lot of crypto users is to do everything decentralised. Under nobodies control. This is what Nxt is working towards and leading the field at the moment.

Counterparty and Mastercoin had AE's before Nxt and both have been pretty much failures so far. Nxt has been successful since day 1 and getting stronger as time goes on. Nxt has a large, hard won community, a big reputation for innovation and a verifiable track record for delivering what it promises.

Attack me if you want but presenting counter arguments (like what you think the definitions of the above terms mean) would be more helpful.

How irrelevant is NXT? Dogecoin, a dying coin that was made as a joke, with a picture of doge meme as it's logo has over double the trade volume of NXT.

And LTC, a coin that is supposedly dying, is doing 17x more trade volume than NXT.

NXT is irrelevant.

Sure, you changed your rethoric now. First it was that its hard to do what nextcoin programmers did, now when you realize that other coins had it too you go into terms of volume.

Thats not good way to present arguments.

Its irrelevant to me, I rode a way from 20mil to 80mil and maybe I will ride it again.

I just like to confront them since they tend to spam every damn thread on this forum with how innovative they are while in reality its all taken from other coins in a way that has never successfully been done before and valued by the crypto community.

Distributed is a half way house between centralised and decentralised. Explain what your definitions are or else I'll be force to descend to name calling and trying to undermine your character  :D :D :D

FIFY  :D

True innovation, no?

Its irrelevant to me, I rode a way from 20mil to 80mil and maybe I will ride it again.

I just like to confront them since they tend to spam every damn thread on this forum with how innovative they are while in reality its all taken from other coins.

Nxt is successful, is my rehtoric and my arguements are clear.

Yours are abscent.

Why would I get banned?
Why you arent banned yet?

Sure, do the name calling...that will be funny

There was already a picture on one of those nxt threads that showed you what is difference between centralized, decentralized and distributed. It went exactly that way and showed you which is better. Feel free to go through all those posts because I am not going through them.

It's like a cult and trying to wake them up from it actually has the opposite effect of only reaffirming their delusions. But if your posts help stop a few noobs from drinking the kool-aid, cheers to you.

Yeah, I got the feeling you were unwilling to do any research yourself  :D :D :D That picture was from a Ripple source (I posted it !!!  :D :D ) and switches the definitions of Decentralised and Distributed that is generally accepted across the crypto community.


Unless you have any real argument, with some decent evidence, I am going to take a break. This thread speaks for itself, anyone with any genuine interst has the basic info available to find out more about the scope and potential impact of Nxt.

I'll leave you with you closing arguments  *hopes for good arguement and links but waits for populist grandstanding with unfounded assertion* :D

I was not talking about you but if you feel guilty you are suspicious indeed.

Calling a crypto a scam is never harmless.
Not only cryptonaut is calling Nxt a scam without proof but he also insult people that disagree with his fantasy.
You could say he's just delusional but I think he has an agenda.

I thought it was about me because I was among latests posters.

Either I am on your ignore list, or you just refuse to answer my question: Do you, or do you not have facts to back up your assumptions about distribution.

Until the basis of your argument is solid, any further conclusions drawn from it are moot.

It's a basic methodology that cannot be ignored if you want to have a discussion that leads to valid conclusions.

Actually, you sound a little brainwashed.  ;D

Nxt will most likely have a larger market cap than Litecoin in 6-12 months. Potentially sooner. Nxt has a world wide media campaign going into effect soon. It will be 2nd in market cap only to Bitcoin. Its just a natural law based on the momentum that is occuring in its eco-system.

There are many things that can't even be discussed publicaly in detail at this point - like brick and mortar banks that have approached the Nxt eco-system regarding real world global business transactions.

So, I don't know if it will get someone "rich" - but seeing an investment grow 10-20x in 6-12 months. I think a lot of people would be happy with that.

Ok,

The assertions you have made with no or counterproductive evidence and I have asnwered fully and with links where appropriate and requested, are:

i) MGW was run like an exchange and couldn't be run by none exchange owners- so you agree that its centralised exchange run by exchange owners
ii) That 3-4 people control 75% of Nxt (you still provide no links to blockchain data) If James word is not enough.......he is one of leading nextcoin developers
iii) Attacking Nxt on the grounds of distribution and to be avoided but thinking Ripple is fine to use I dont attack nextcoin at all, and I compare it to Ripple only because it stole all of its ideas from Ripple
iv) Secret pump and dump of jl777holdl on polo when everything was transparent and publicI never said it was secret, actually when I asked that JL777 on nextcoin thread I posted link to, please stop lying about what I said
v) That Ripple is decentralised in the definitions only Ripple users identify with, and the impact this has on your arguments assertions.I dont understand a word you are trying to say
vi) refusing to see the difference between an idea implemented and an idea implemented successfully, and the innovation required to overcome the barriers between the two concepts.you may be mentally disabled. I said that other coins had asset exchange before, so dont understand what you are trying to say at all
vii) When failing in all these attempts to spread FUD, attack me personally.Which fud am I spreading? Saying that nextcoin stole all ideas from other coins but claims to be innovative? Even come-from-above-and-beyond said everything is stolen and only innovation will be transparent forging

Anyone can check this summary against the last couple of pages for accuracy. of course, everyone can check it lol, and say what? next copied all other coins


Finally, I have posted that picture as I found it confusing. It went against all the accepted definitions of Decentralised / Distributed / Centralised I had come across. Come-from-Beyond replied to me and I forget the wording but basically said 'it's a Ripple thing, they use different definitions'. I think it was in the Price Speculation thread if you want to browse it while doing your research  :D you did not post that picture and it wasnt about Ripple's definition at all, and come-from-above-and-beyond didnt even take part in that discussion, it was between me and devphp mainly and lasted for a couple of pages

Till next time...  :D

I already answered that. My conclusions come from James word and I am pretty sure he knows all larger holders so his word is good enough for me.

Your methodology is false one, I my self own 4 nextcoin wallets and dont even have nextcoin. So how many wallets do those that have it have? You know yourself that very well

So it's an appeal to authority. Glad to have cleared that up.
That means there is no way to dispute your claims, as they are based on your choice to trust this authority, not on original research.
James himself admits in the article you so gladly selectively quote that his conclusions are based on a "guesstimate".
We're at least clear now on how solid the basis for your conclusions is.

Your second argument is just logically unsound.

Your syllogism goes thus:

Minor premise: I own 4 nextcoin wallets
Major premise: All of my wallets are empty
Conclusion: All large nextcoin holders hold multiple wallets
Addendum: you know I am right.

Um...?

its known fact that people use more accounts and that account explorer doesnt mean anything.

Farce is the word you need, Atoni.


It is pretty obvious that this thread is intended as a FUD attack on NXT, and an attempt to pump EXO:

https://bitcointalk.org/index.php?topic=709528.0

Very coincidental that Cryptonaut and Atoni are the first 2 posts in the above EXO thread.....

I'm still waiting on your proof that 75% of Nxt is owned by 3-4 people.

"Coz James told me so" is no proof.

Well if you dont believe leading nextcoin developer then ok. I am not forcing you to believe it

LOL, that was a joke from me. You can see all my posts in those couple of days that were all jokes.

Well if you dont believe leading nextcoin developer then ok. I am not forcing you to believe it

Most of your posts are jokes.
Can we finally see some evidence of your claims ?

Actually, I know James very well.

I just find it funny you are cherrypicking a "lead dev", who is actually a 3rd party dev that doesn't work on the core at all to support your conclusions. :D

there is cannot be evidence about distribution

Almost every post that mentions who are nextcoin developers mentions him too. So I would say he is pretty important developer hence the word leading

That is true, most of my posts are jokes but not when it comes to nextcoin. I am simply irritated by its community that posts on almost every thread on this forum.

That is true, most of my posts are jokes but not when it comes to nextcoin. I am simply irritated by its community that posts on almost every thread on this forum.

Which evidence do you need? that nextconi copied almost all of its features from other coins? Or the distribution, there is cannot be evidence about distribution except what people that know all big holders say, and James said it very well. You can argue that that is not valid argument and that is ok, to me word of leading developer means something.

So you hate on NXT because it has an active community, because it has large stakeholders and because it successfully implements features that other coins have attempted ?

Yep, good thinking.

I dont hate on nextcoin, I am simply irritated that nowdays you cannot open a can of tuna without some nextcoin guy jumping out saying.....we copied this and this from other coins, we are so innovative, we love ourselves and you all should love us.

And those features were not attempted by other coins but are fully working in other coins.

Anyway, I have to go to bed, and I think you have some job to do too, you could update your nextcoin status on thread you hijacked in which person was going to show his investment skills.

And once more repeats the history. People mostly do not read the forums and have no idea of the inside of the coins. Like litecoin instamine.

all coins are mined relatively equally

there is no such thing as an Instamine.

all coins are mined relatively equally.. it's a sliding mathematical scaled based on a simple concept.
and that is, The more popular a coin is the more it gets mined.

oh and if the coin was deliberately designed to pay out way too many coins at the start then that would be called a Scam !
then the question would be how do you define too much ?
then you look at the average coin and compare..
If Litecoin or whatever is like 80% of all other coins in design then..

There is such a thing as an instamine.  It occurs when a coin is released with very low difficulty and a few powerful miners jump on it and take a huge numbers of coins in a short space of time.  The difficulty then goes up and everyone else is left mining a fraction of the coins for the same or more effort.

by the way TOKnormal that was pure fail i don't see a reason to respond to you in depth on that sorry.