Bitcoin Forum

Even if it promised you great things? How long can a crypto survive being closed source? Is it recommended? Can it be compatible with the 'culture' of crypto today?

Answers on a postcard  ;D

Closed source and crypto in one sentence...  lol.

Don't ever ever trust a crypto if it's closed source.

For a "pump & dump" investment: Yes

For a longer investment: No way

I brought some Qora when it was closed source because the dev said it would eventually be open sourced. I would not buy one that would always be closed source.

So, is the dev branch of NXT open yet?

No, but Nxt isn't asking anyone to blindly install the dev branch on their computers.

How can you trust a closed source crypto? Perhaps for short term trading but never long term investments..
Part of the main reason bitcoin was developed is because of a lack of trust in closed currencies controlled and influenced by unknown entities.
It defeats the whole purpose

Absolutely. If the market conditions are right you will make a profit like any other coin.

Yes , if its enough cheap , I can buy and sell high.

But , if you ask to keep them, then it depends on devs and community.

Specifically, if youre asking for NEM , Ill keep them in my wallet.

Your promises would not really get me excited unless you had a track record of awesomeness which unfortunately you don't, that goes for anyone else who is pushing closed source out there.. BUT... If it was closed source and was vetted by a trusted member of the community and it was promised to be open source in the end and the trusted community member gives it a thumbs up then i would buy a lot of the coin before it became open but that would be a gamble and is not recommended.

'Practice what you preach' would seem appropriate.

Yes if it's promising, sometimes it's even better to wait before open sourcing the project so that it will be rare and catches on.

Are you hinting at 3000% gains for early NXT investors?