Bitcoin Forum

Nxt is currently  at 8th position in coinmarketcap and its a matter of time for counterparty and dogecoin to move it further down the list.  24 trading volume is almost non existent and you can probably move the market with 100$
Nxt was initially distributed to no more than 70 people and that's a reason almost no one is touching it!
Add to that the fact that there have been some very serious scam accusations (https://www.cryptocoinsnews.com/bitcoin-core-developer-jeff-garzik-believes-nxt-is-a-scamcoin/) and you can see the whole picture!

These are some of the issues...
   * It is marketed like a scammy penny stock.
   * Anon early super large stakeholders + Proof-Of-Stake == the big guys run the table, if they choose. https://download.wpsoftware.net/bitcoin/pos.pdf  The central bankers are in place from Day One unless they are super-virtuous and give tons away “fairly.”
   * Anonymous developers
   * Closed developing process.  Source is periodically handed down from the ivory tower to the masses.
   * Certain notable personages (& key stakeholders) that dodge, dodge, dodge, when an obvious attack vector — mitigated in other crypto-finance projects by known techniques — is highlighted.
   * Active resistance to making it easier to independently reproduce the software
   * Technical criticism is routinely met with bizarre behavior (notably from come-from-beyond)
   * Attacking critics, rather than responding to criticism.
   * Several security incidents that smell like inside jobs.

What needs to be done for the comeback of nxt?
Can ntx recover or the game is over like so many other scamcoins out there?
I know nxt has some great fuders and trolls out there but is this helping or harming nxt?

From Geoff's famous https://download.wpsoftware.net/bitcoin/pos.pdf...



An opinion piece masquerading as a whitepaper, designed for mass consumption for those who don't think for themselves.

This is a joke, right?  :D

NXT's asset exchange is hosting remarkable innovation and the SuperNET is about to take the world by storm.

OP is a moron.  :D


ETA: and a bitshares shill (post history)

this is untrue


DYOR and see why Bitcoin and NXT is my top 2 !!!!

Yawn....nice try, mate, but all of your points have been rebutted as FUD a long, long time ago.

And here's CoinMarket Cap from a few seconds ago, just for the lulz:

http://i60.tinypic.com/b4g95t.jpg

Who has the only green numbers over the last seven days ?

(And if anyone was wondering....SuperNET is a NXT-based project)

NXT is vibrant and beautiful.

NXT is definately not dieing and I doubt it ever will.

Nxt has been in the top ten of Coinmarketcap continuously for a year. How many other cryptos can boat of that? Not many.

What's interesting about Nxt is that - of all the cryptos on the top ten for that year - it's the most innovative. Yes: I mean it's the most innovative of all of them.

What's really holding Nxt back is an emphasis on technology and ecosystem rather than marketing. It isn't marketed like a penny stock at all. How do I know this? Because I spent several years in the penny-stock arena. I've seen what real penny stock marketing is really like, and yes I can dig up real examples for a real compare-and-contrast session.

Fact is, Nxt is marketed by people who are techies at heart but not marketers - and it shows. Myself, I have absolutely no problem with this approach. It makes Nxt a "sleeper" that's going to come bursting out of the gate once professional marketers take it under their wing. That gives people like me, who missed the initial boat, a fair bit of time to get some while its price is more-or-less stable.

I don't see why so many people make so much noise about the "initial distribution." It's water long under the bridge: what matters is where it's going to go in 2015 and forward. There's a point when the noisemakers come across as mere grudge-holders, like a nonexistent stock-market punter who badmouths Facebook because its IPO was botched 'way back when.

Nxt is a coin that needs patience. You can't claim at all they're not delivering the goods: they provably are, at a surprisingly fast rate.

Do you know what gold penny stock I made the biggest dollar profit in? It's one I first bought in March 2009, and it went nowhere for more than a year. I could have bought more in the spring of 2010 at the exact same price I bought at in March 2009. The company itself was reviving an abandoned mine, and I made my big score when the market finally seen that the mine was going to be a producer. That experience taught me a big lesson: a big score requires patience, a lesson I have to admit I learned the hard way. And I admit further that I had to re-learn the same lesson the hard way here, too. But that's the way it is: as the old saying goes, there ain't no such thing as a free lunch. To get big lasting gains, you have to be the patient person in the midst of faddists.

And it's hard - I know it is! As I indicated, I've had to take more than my share of lumps around here before this lesson sunk in for me.

Here's the best way to look at it, I believe: Nxt's long-term trading range gives you a good opportunity to buy in monthly - in a classic dollar-averaging way - until the core Nxters decide that it's time to ease up on the innovation sprint-race and finally put marketing to the general public on the front burner. Once they shift priorities in this way, then sit on what you got - and beam about being an early adopter. :) Because - by that time - you will be an early adopeter, comparatively.

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

edit:  NXT is starting to breakout btw...  needs more volume tho.

Yeah, and at the lower part of its long-term trading range too. To an ex stock market hound like me, that really says something.

Old Wall Street saying: "Markets climb a wall of worry and slide down a river of hope."

I don't own NXT, have in the past  but I don't see them being out of the top 10.

Why?

1. NXT has no inflation

If you look at last year, Bitcoin with it's 10% inflation struggled to sustain itself in a bear market, beyond the volatility there's a clear general downtrend. LiteCoin which has 30% inflation exhibited the same general trend except it fell 3X faster...

NXT has rises and falls but after a fall can maintain it's BTC price. (Where as LTC needs $2 million a month in new demand to offset new coins mined, NXT needs none.)

2. NXT has a strong stable of User Issues Assets

Few other coins allow User Issued Asssets and of those that do, NXT has probably the best all round selection.

3. POS>POW

Most POW centralises way more and is more expensive.

4. They have a reasonable pace of development

Some other top 10 coins get very limited development, beyond the advantages with which they were originally created.

I personally expect POW to continue to struggle this year. NXT with it's comparative advantages and no inflation should hold up well & potentially make progress.

The real Achilles heel for all alt-coins though is volatility. When you hear that a big new retailer accepts Bitcoin, you should cry yourself to sleep that night. Most retailers can't hold BTC because of volatility so they sell it. So a sale in a crypto becomes a sale of crypto. Imagine if everytime we went to a store the shop had to sell our dollars for Yen on the open market. Making online purchases with BTC becomes throwing BTC off a cliff. The places that were no.1 & 2 for likely adoption, Argentina & Venezuala are a result not of volatile crypto being good but because it's better than their constantly inflationary currency.

I'm happy to debate why but only Market Pegged BitAssets by BitShares like BitUSD solve this problem and they're backed by an average of 300% transparent collateral. This means retailers are more likely to hold them as they gain adoption and it creates a lot of demand for BitShares because of the collateral system. http://www.bitsharesblocks.com/assets/asset?id=USD

http://whatisbitusd.com/

http://m.youtube.com/watch?v=fnunXnLdJdw

Another big advantage is that the BitShares blockchain can hire talent. Most coins end up centralising around two developers. The BitShares blockchain can hire developers. (In fact BitShares currently has circa 8 developers putting a lot of time into it.) If you want a real shot at challenging Bitcoin you need serious marketing, serious development & infrastructure. That's all happening at a pace right now https://bitsharestalk.org/index.php?board=61.0

I think only BitShares will challenge Bitcoin in the next 12-24 months but I think NXT will be do fine and improve as POW options continue to struggle. (Notice how many of the top 500 alt-coins are POW but how few of them are in the top 10... Expect that trend to continue. Progress is a bitch.)

If this is you call die, then other coins have dead one years ago.

I'm new to Crypto but I believe this OP to be a load of Bull.

Nxt is now part of the SuperNET, something big in crypto now, and their now launching the MS (Monetary System) which is big news to gain attraction to the coin.

yes you're new to crypto obviously because you're totally over-hyped.

Who says I'm over - Hyped? I still see a strong coin right now. Their still in the top 10, and it seems that other people don't seem to think it's dying.

All crypto coins seem to be going down the sink. Not just one or two coins.

Not all, but a lot.

I don't think NXT is dying. I also don't think it will see the level of success a lot of people in this thread are saying it will.

That's true. Look at the price of BitCoin. It's sure not what it used to be. I think once the price of bitcoin rises really high, so will many of the other alt coins.

https://web.archive.org/web/20140104141936/http://coinmarketcap.com/

https://coinmarketcap.com/

1 year ago today, verses today.  

5 of the top 10 are still alive.

I didn't see a single example of a single coin that is better today than a year ago, including Bitcoin.  And some like Litecoin have even lost like 90%, and some like Mastercoin even much more than that.

NXT It's a fun economic experiment that I'm glad I'll be able to say I was a part of.

NXT has been the most interesting experiment of all the cryptos, and arguably has the best tech too of all the cryptos.  That said, it has some problems and just like the rest of the coins on the chart is going down and very likely will just continue to go down unless a radical shift in how its core community goes about doing business and I think that is unlikely.  

I say that because what I think it would take is for the core community members to not act in their own interest, but instead act in the interest of NXT.  On an individual level what each would need to do would be to sacrifice and I just doubt that will happen. 

What kind of sacrifices?  Giving up their anonymity.  Giving up their hoards of NXT. 

only a falling price will make them let go of their NXT. 

Have you guys read this thread?
https://bitcointalk.org/index.php?topic=917190.0

 ;D


I think the use of the past tense is premature, a triumph of hope over reality perhaps ;D

I agree, it was a fun experiment, I participated in the beginning. But with the general public still not even understanding bitcoin yet, all these "asset" type coins are just too early for the market.

Wow, if the OP's idea was to expose the massive level of support that NXT has then they certainly succeeded.

NXT is going nowhere but up.

Of all the crypto's out there it actually stands out as being in use for something (and only growing in use).

nah....the unfair distribution means concentration of wealth in the hands of the few....

what a shitty crypto

NXT was never alive. Who actually used it for anything ever?

It's was a science experiment that only nerds thought was cool, that's it.

Nxt=Bad weeds grow tall!
Try whatever you want. It will survive! 8)

Let's see...
Since Dec 1st we got NXT up about 20% on good volume ave 100-200 BTC/day on BTER and Polo...
And poor, creaky Bitcoin down 29% after a dead cat bounce.

Market says OP has zero credibility...
Market also says that dramatic NXT rollouts like the Monetary System and SuperNET are game changers.

But mostly the NXT Monetary System...
Anyone can now issue an full, sophisticated Alt on the NXT Blockchain...
And focus on building the business and revenue on top... as opposed to wrestling with C code from 2009.

https://i.imgur.com/YXDYem1.png

If you ask me NXT won't die for a while, but also won't ultimately survive. it was just too early for the market and better things are coming in its place.

just what we need...more fucking idiots and scammers making new coins... ;D

In the meantime.....

dogecoin is waiting in the corner.....

https://i.imgur.com/6YDck76.jpg

lol @OP. Much luck trying to move NXT with $100  :D

Everybody had the chance to buy in the NXT ICO. There was a lack of interest because BTC was mooning and LTC and Doge got hyped. I unfortunately also missed buying NXT at the beginning but thats no reason FUDing the coin.


Yes price could go down but that doesnt mean that the coin is dying  8)

I dumped NXT and stocked up on some doge

Your voice sounds so familiar to me, do you want me to do speech analysis again?  ;)

Oh my, someone has found a very old Garzick tweet series.

I highlighted some of your points.
Have a look here: https://www.youtube.com/watch?v=QMSA5W7jx1E&feature=youtu.be

It's an open Q&A with one of our core devs. Anonymous?

You may also like to know that this same person hás done some real work on your so called attack vector
a) to actually define it, because somehow that was never formally done. Rather important, that and,
b) to investigate if this vector was actually possible by running numerous simulations (which you can also run and check yourself)

Find the papers here, if you please:
http://chepurnoy.org/
https://github.com/ConsensusResearch/articles-papers

Open source code repository to be found here: https://bitbucket.org/JeanLucPicard/nxt/overview

Attacking critics? Nope. Take a look at the vid again: we're having fún when people ask questions, because that's part of being challenged and when finding solutions.
Attacking people mouthpiecing things they have no clue about and not the wits to hide the fact? Sure, why not?

Good luck at FUD school. You will not graduate this year!

nxt's idea of marketing - spam bitcointalk with useless threads  ;D

You just defined almost all of the altcoin section in general.

It's not an uncommon event here.

https://i.imgur.com/L9QgeZQ.jpg



Dogecoin just left nxt behind !!!
Lets see if it will last....

That ambush actually worked!!!

https://i.imgur.com/Y0uSFML.jpg


Counterparty is next I think....

 

lol CMC

They will probably be leapfrogging over each other for weeks.

We've been doing that from the start :)

I think this one is a year old

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

Historically, the "endless" crypto bear markets can/will turn back up.
The NXT up move will be amazing.    ;D   

rofl, doge bagholders who post spam threads and stupid child-like memes and pictures to attempt to spur the market.

NXT holds start-up businesses that pay dividends on the asset exchange, and new ground-breaking tech I won't go into because you're too much of a dumbass to know what I'm talking about (I'd rather see you not profit either, so I won't help you understand).

Keep posting your cute little memes kid.  :D

what i think that could help NXT get the edge is faster confirmation time.  and i hope we see it this year.

It's just like with Christmas.

If you close your eyes, confirmations go faster.

Sometimes big gaps between confirmations can ruin the experience of using the asset exchange. Faster confirmation times could make all the difference.

lol.  but there was mention of making NXT's confirmation time to a few seconds right?  if i'm not mistaken, i think it's called transparent forging?  are the devs still working on it?

anyway i think NXT would be way better if it was faster than the rest.

The last I heard the devs were still working on it, but there's only a few who understand it and it's going to take a while to develop. Maybe things have changed since I looked into it.

i think getting faster confirmation times is the way to go.  then add more features later.

went to the nxt tech tree website.  i think the nxt devs should focus on instant transactions and give the platform asset to asset trade capability.  it's called instantDEX, is it?  

... OR does monetary system allow currency to currency trading? if so, no need for instantDEX.  but can currencies in monetary system be used to buy assets in the nxt asset exchange?  if so, then nxt will be brilliant!  just work on instant transactions and you are a perfect (almost) platform.  there will be naysayers, but you will be better than the rest for sure.  GL

http://33.media.tumblr.com/tumblr_lppsa0BSWL1r168r4o1_500.gif

people are using only for a short term investment rather than knowing it's future applications and revolutionary potential.

Is dev still closed and annonymous? Then yes its dead id rather buy ripple if i want closed source crypto currency. Bitshares is good though

let them.

not a good analogy.  but ok.

Y

cos the truth is, it's far from dead. why can't people stop fudding here and just tell the truth?  jesus...

 :'( :'( :'( :'(

STOP LIKING WHAT I DON'T LIKE!!!!  >:( >:( >:( :'(

?

edit: back to my questions...

went to the nxt tech tree website.  i think the nxt devs should focus on instant transactions and give the platform asset to asset trade capability.  it's called instantDEX, is it? 

... OR does monetary system allow currency to currency trading? if so, no need for instantDEX.  but can currencies in monetary system be used to buy assets in the nxt asset exchange?

Sorry, didn't realise this thread had some serious questions in it :D


Nxt has been open source since the day it was released, it was a single unobfuscated java class file. You just decompiled it.

Official open source was in March 2014, almost a year. Every version of the software released has come with the source code bundled with it so you can compile it yourself, if required. Development branches are private to stop clones releasing untested software that has been released on Nxt's testnet.

Technically, NXT has never been closed source

Damelon has already posted about our "anonymous dev" Kushti here:


Here is his blog > http://chepurnoy.org/ Alexander Chepurnoy



Monetary System will allow MScoin to MScoin trading. InstantDEX is third party by JL777 (i.e. not a core feature). That is the buety of Nxt, anyone can build on top of it. It will give 2-5 sec transactions when it is released, coupled with Multigateway you will be able to trade crypto to crypto. Think of Monetary System for MSCoin to MSCoin trading 'inside' Nxt, and InstantDEX for cryptos 'outside' of Nxt ecosystem (but still through the Nxt platform)

Good question, I don't know the answer. My inclination would be yes but not right away.

We do have some very closed devs.....I'm gonna assume you mean the source code, that's been open source since March of last year:
https://bitbucket.org/JeanLucPicard/nxt/src
Umm....well, there it is.

On the anonymity: assuming you do mean devs.....NXT has a dev team (not just one guy for the masses to worship) of around 5-6 core guys, another 5-6 on non-core stuff, plus an utterly unknown number working on 3rd party projects. Some of this team are still anonymous, but many aren't.
Got to :
www.nxtforum.org
and have a look around.

BTW: Ripple isn't a crypto-currency. It never has been, never claimed to be. Don't forget that Ripple dates from a time BEFORE Bitcoin and crypto:
http://en.wikipedia.org/wiki/Ripple_%28payment_protocol%29

Glad to see this thread!  ;D

Nobody would care about a dying altcoin, so Nxt seem to be a bigger threat to "them" as I thought.  8)

No wonder, because the Nxt devs constantly deliver new functions since one year. I must admit that some maybe are too challenging for crypto newbies... But nonetheless I see a great future for Nxt!

Updated my post > https://bitcointalk.org/index.php?topic=917508.msg10089534#msg10089534

We hope to help change that. For one thing, by making it easier for people to find promising alts and other "diamonds in the rough".
Check out our demo altcoin alert system:

they should.  thanks for the reply.

Yes, currencies will eventually be able to be used to trade assets, but not at the launch of Monetary System.