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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: mr_random on December 22, 2013, 03:27:03 PM



Title: NXT breaks into the top 5 coins by market capitalisation!
Post by: mr_random on December 22, 2013, 03:27:03 PM
See it for yourself right now at: http://coinmarketcap.com/

http://i.imgur.com/VyAp77p.jpg

Notice how unlike the other cryptocurrency graphs, NXT shows no correlation as all to their movement. It's independent. This is because it's not a Bitcoin clone but based on a new code set built from the ground up with new features.

I am cheerleading this one hard because I see nothing but wins when I look at NXT's features:

1. No mining required -100% proof of stake (this beats PeerCoin's main advantage). No wasted mining power
2. Faster transaction times than Bitcoin or Litecoin
3. Alias system (beats Namecoin's unique selling point).
4. Ridiculous number of cool features coming in the next month - peer to peer decentralised exchange, marketplace, anonymous messaging system, voting system

Lots of active development going on -  see more at the thriving community at https://nextcoin.org

Where can you buy these miracle coins? At dgex.com Less than 3000 NXT addresses have been created since launch in total, the price has risen this high on the buying power at a single new exchange, dgex.com... don't miss the boat.  :)


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: kelsey on December 22, 2013, 03:35:35 PM
happens when you premine 1 billion coins and find enough suckers to buy a few while the rest hoard  ::)


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: gencoinx on December 22, 2013, 03:41:09 PM
happens when you premine 1 billion coins and find enough suckers to buy a few while the rest hoard  ::)

exactly, no point in mining them


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: mr_random on December 22, 2013, 03:49:15 PM
It's not going to stop at number 5. It's going to number 2 within the next few months. And eventually number 1.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: 2X84 on December 22, 2013, 03:51:54 PM
It's not going to stop at number 5. It's going to number 2 within the next few months. And eventually number 1.


+1. To quote a cliche meme, "Haters gonna hate".


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: 2X84 on December 22, 2013, 04:45:35 PM
NXT just positively destroyed Namecoin :).

Market cap: 40 Million ish.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: mr_random on December 22, 2013, 04:56:31 PM
NXT just positively destroyed Namecoin :).

Market cap: 40 Million ish.

Very nice!

NXT has all of Namecoin's features + a boatload of others so I knew that would happen soon  :)


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: josephliton on December 22, 2013, 05:11:59 PM
The way the price is jumping higher and higher,it is one of the most profitable coin to buy at this moment.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: CoinManiac on December 22, 2013, 05:13:25 PM
no.4 yeah ;D ;D ;D ;D


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: nocoin on December 22, 2013, 05:15:25 PM
NXT has all of Namecoin's features
What a fag.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: cryptohunter on December 22, 2013, 05:22:55 PM
The innovation works to an extent, but really mining here does not work out well at all unless you were an early adopter.

Your chances of mining a block are tiny unless you have a vast amount (millions ) of coins. Since all of the coins are owned by just a few people they will mine all of the blocks

NXT needs to be cloned but initially given out in a much much broader way.

Even with 100k coins right now you have a very very tiny chance of mining a block.


If you understand how COINMARKETCAP works, you will understand it is totally floored, it really should be revised to give an accurate impression.

You could invent a coin with 50 trillion coins, if it hits an exchange and just a few people bid 1cent, it would exceed bitcoin.

There really needs to be something done about that site.






Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Yurizhai on December 22, 2013, 05:25:30 PM
Does 100% PoS really beat Peercoins main advantage?  The whole point of PoS is that every coin that has it will eventually have PoS take over anyway, and there's something to be said about having miners able to participate but not dominate. I'm sure there's a reason Sunny King didn't make PPC 100% PoS.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 22, 2013, 05:25:35 PM
The innovation works to an extent, but really mining here does not work out well at all unless you were an early adopter.

Your chances of mining a block are tiny unless you have a vast amount (millions ) of coins. Since all of the coins are owned by just a few people they will mine all of the blocks

NXT needs to be cloned but initially given out in a much much broader way.

Even with 100k coins right now you have a very very tiny chance of mining a block.

Nxt is not about mining.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: cryptohunter on December 22, 2013, 05:27:56 PM
The innovation works to an extent, but really mining here does not work out well at all unless you were an early adopter.

Your chances of mining a block are tiny unless you have a vast amount (millions ) of coins. Since all of the coins are owned by just a few people they will mine all of the blocks

NXT needs to be cloned but initially given out in a much much broader way.

Even with 100k coins right now you have a very very tiny chance of mining a block.

Nxt is not about mining.

Forging? or do you mean that side of it is not really important anyway?


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: pinarello on December 22, 2013, 05:30:45 PM
happens when you premine 1 billion coins and find enough suckers to buy a few while the rest hoard  ::)


Stil with Dan Kelsey? good for you, stay there.

How is the founders board doing?


Pin


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: mr_random on December 22, 2013, 05:32:07 PM
NXT up 80% since I made this topic  :D

Does 100% PoS really beat Peercoins main advantage?  The whole point of PoS is that every coin that has it will eventually have PoS take over anyway, and there's something to be said about having miners able to participate but not dominate. I'm sure there's a reason Sunny King didn't make PPC 100% PoS.

PoW provides a neat way to distribute the coins out via mining. That's the one weak point of NXT - all the coins have been made.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 22, 2013, 05:32:41 PM
Forging? or do you mean that side of it is not really important anyway?

It's important, but u mentioned only mining and said nothing about other Nxt features.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: headpolo on December 22, 2013, 05:34:31 PM
https://bitcointalk.org/index.php?topic=381038.0


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Yurizhai on December 22, 2013, 05:36:57 PM
https://bitcointalk.org/index.php?topic=381038.0

Yeah. Seems  a lot like Quark in regards to the market cap thing. It's easy to get a high one when all the coins are out.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: cryptohunter on December 22, 2013, 05:46:04 PM
Forging? or do you mean that side of it is not really important anyway?

It's important, but u mentioned only mining and said nothing about other Nxt features.

NXT is a masterpiece make no mistake, the concept is way in another league over the clones here.

However, the initial distribution seems very concentrated, and sadly because of how it works (which is great) it makes the mining concentrated.

Surely you can see this coin should have been more widely distributed than it was?

As soon as the source is revealed you can be sure this will be cloned and a much fairer initial distribution will be done. NXT is cool but i think it will always be criticised for the very concentrated initial distribution. This also leads to more concentrated forging...this can never be fixed now with this version of the currency.  So for NXT to succeed people will need to buy in at more and more inflated prices since those with multiple millions of it will hold on to it forcing price up. You can't even mine around this like with other coins since not only do they control the coins they hold they control all of the forging too.

Really anyone looking at this from the outside will see it as the biggest ponzi of any coin yet. Sad because really it was a very great concept.

Although it looks good now on coin market cap, this is not showing a correct picture for this coin, nor a lot of the others either.

Coinmarket cap needs fixing because a lot of new people do not understand really how it works.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: romerun on December 22, 2013, 05:47:26 PM
I value jimmy cap over market cap after witnessing dogecoin mcap surpassed btc few days ago. Fuck it.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Vega on December 22, 2013, 05:50:00 PM
Even with 100k coins right now you have a very very tiny chance of mining a block.

Unless I'm mistaken, with 100k nxt you would forge a block around every two days.
That's not too bad. Better than solo mining a CPU coin. :)

But I think that's not really the point.
There are hundreds of altcoins, that has no function, their only reason to be is to be mined.
That's nice if you can make money of it, but they have no real future.

If you look at Nxt (and other such coins in development) with a miners mindset, they look almost worthless, (or a scam, or ponzi, etc) especially if you factor in that the pricey mining rigs has no function in these systems.
The only way to look and evaluate them is what new ideas and functions they bring to the table.
But that's not the avarage miners way. :)

I agree with you on the initial distribution problem, but nothing do to about it now. Actually if you look at the traffic to and from dgex.com (exchange), the distribution are going really well, for a coin a few weeks old.
Of course there are still some big accounts, but we'll see what happens in a few weeks/months.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: cryptohunter on December 22, 2013, 06:09:43 PM
Even with 100k coins right now you have a very very tiny chance of mining a block.

Unless I'm mistaken, with 100k nxt you would forge a block around every two days.
That's not too bad. Better than solo mining a CPU coin. :)

But I think that's not really the point.
There are hundreds of altcoins, that has no function, their only reason to be is to be mined.
That's nice if you can make money of it, but they have no real future.

If you look at Nxt (and other such coins in development) with a miners mindset, they look almost worthless, (or a scam, or ponzi, etc) especially if you factor in that the pricey mining rigs has no function in these systems.
The only way to look and evaluate them is what new ideas and functions they bring to the table.
But that's not the avarage miners way. :)

I agree with you on the initial distribution problem, but nothing do to about it now. Actually if you look at the traffic to and from dgex.com (exchange), the distribution are going really well, for a coin a few weeks old.
Of course there are still some big accounts, but we'll see what happens in a few weeks/months.

I agree to a certain extent that mining is not that important to distribution, actually it can be done away with altogether.  However the concentration of this distribution at the start was just way way way concentrated above any other coin.  Not only that, the mining/forging is now forever going to be in their favour too??  So not only do they hold the bulk of the coins, they will get the bulk of the forging?  seems weird.

NXT is tech amazing , distribution poor. This is not good for any objective reviews of this coin.

I like it, it can still succeed, however it could and should have been distributed more fairly. Or else some fairer model for forging.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: mr_random on December 24, 2013, 08:23:01 PM
NXT sitting pretty at number 4. Any predictions for when it passes Peercoin to grab the number 3 spot?


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 24, 2013, 08:25:21 PM
NXT sitting pretty at number 4. Any predictions for when it passes Peercoin to grab the number 3 spot?

I think we won't see it on the 3rd place. It will jump straight to number 2.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: FrictionlessCoin on December 24, 2013, 10:55:21 PM
Forging? or do you mean that side of it is not really important anyway?

It's important, but u mentioned only mining and said nothing about other Nxt features.


As soon as the source is revealed you can be sure this will be cloned and a much fairer initial distribution will be done.


I took at look at the Java files,  it is a typical web application with only 28 classes to manage its block chain.

It's a centralized system where all the coins were issued with a purchase price of 21 BTC.

How is this different from any non-centralized system creating virtual currencies?   You could in fact create the same thing with even better and more robust technology using Open Transactions.

There is absolutely no innovation here.  

Besides, if they were fair and confident with their creation, they would have the source code peer reviewed prior to anyone risking any of their hard earned money on it.



Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 25, 2013, 08:41:31 AM
I took at look at the Java files,  it is a typical web application with only 28 classes to manage its block chain.

It's a centralized system where all the coins were issued with a purchase price of 21 BTC.

How is this different from any non-centralized system creating virtual currencies?   You could in fact create the same thing with even better and more robust technology using Open Transactions.

There is absolutely no innovation here.  

Besides, if they were fair and confident with their creation, they would have the source code peer reviewed prior to anyone risking any of their hard earned money on it.

U lie.

PS: Here r my replies to his post:

https://bitcointalk.org/index.php?topic=352286.msg4127395#msg4127395


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Caesar V on December 25, 2013, 08:45:40 AM
Meanwhile the exchange seems to be fucking manual.. been waiting so long for my coins to arrive, not even funny anymore.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Snail2 on December 25, 2013, 09:22:46 AM
It's important, but u mentioned only mining and said nothing about other Nxt features.

Well I'm afraid 99.99% percent of us want to forge NXT and then dump it for BTC. In better case we want speculate on further price rise and dump later :). I wish if I would be wrong on this but I think I'm not. Actually because of the lack of services we can't spend it even if we would wish to spend.

BTW instead of "other NXT features" you guys should concentrate on the basics and make a working client as 0.4.4 crashing every 10 minutes.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 25, 2013, 09:29:20 AM
BTW instead of "other NXT features" you guys should concentrate on the basics and make a working client as 0.4.4 crashing every 10 minutes.

We r working on that. Some guys provide very good stress-testing environment by DDoSing the system non-stop.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Snail2 on December 25, 2013, 09:43:30 AM
We r working on that. Some guys provide very good stress-testing environment by DDoSing the system non-stop.

Yes, I seen it. I had to remove IP publishing as I've got torrents of teardown tcp connections what clogged a 100MB internet connection very effectively. According to my logs I think the client crashing because of it's unable to find a valid node within the connection timeout period.
 


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Snail2 on December 25, 2013, 09:51:34 AM
I agree to a certain extent that mining is not that important to distribution, actually it can be done away with altogether.  However the concentration of this distribution at the start was just way way way concentrated above any other coin.  Not only that, the mining/forging is now forever going to be in their favour too??  So not only do they hold the bulk of the coins, they will get the bulk of the forging?  seems weird.

NXT is tech amazing , distribution poor. This is not good for any objective reviews of this coin.

I like it, it can still succeed, however it could and should have been distributed more fairly. Or else some fairer model for forging.

I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released :). Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" :).) Unfortunately this will make the market even more illiquid.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Come-from-Beyond on December 25, 2013, 10:15:38 AM
I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released :). Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" :).) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Snail2 on December 25, 2013, 10:56:21 AM
I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.

I'm also running an eMunie test on a Raspberry Pi and it working smoothly. I can even hatch some test coins, so i don't need to invest 60-100 BTC for a smooth startup. Everybody can pre-order coins right now for peanuts, so their distribution model looks more balanced. The embedded assets management looks really fine and so on...

Please don't misunderstand me, I like your coin (I even read about the features :).) and I think it could be a really big thing... as soon as you guys get the client working and can find out a way for a more balanced coin distribution. Maybe you should think about that "bank" what I mentioned earlier, or just put 1-2 million coins into a dedicated forging node and feed the output into a faucet.

You can say I missed the boat and now I'm pushing some kind of communistic agenda here to rip off ppl who risked their money or you can say I'm concentrating only on the forging aspect what clearly makes me a greedy bastard :). To be frank you are right on the second sentence. As I think I can still catch this boat, I'm willing to invest into more NXT and forging nodes, but I expecting to see a fair return for my investments and I can achieve this goal only if NXT will be a widely used coin with lots of real world services. On the contrary the current distribution model encourages hoarding instead of using it and makes it a second BTC for speculators only, what doesn't fit to my get rich quick plan :).


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: maxidoge on December 25, 2013, 11:09:59 AM
I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released :). Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" :).) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.
nxt - those 70 people who has ALL nextcoins are created Artificial Scarcity(http://en.wikipedia.org/wiki/Artificial_scarcity),
they sitting on their premined from genesis block millions and only a little % is in trading exchange.

I like nxt and all features, but this capmarket is total bullshit.

Emunie seems much better coin, has many similar features. yes, concept is different.
with emunie you will never 6000% growth, it was made for another purpose.

But the situation when 70 holders in NXT own 95% ALL premined coins, coz mining is closed.
In future big holders take biggest part of profit coz the sistem made in this way - more you have -> more you get.

So beatiful coin, i love it so much. But this shit make it looks like SCUM coin.
Only 70 people get everything grom genesis block and now they pump the price to the moon, when demand is high and they sell only fucking 1%.

And yes i have a little amount of it, and yes - i miss the train.
But this premine for normal people will be like a red rag to a bull, coz it obvious that now owners of genesis millions will control price in a way they want to and they want it to be high.
What next? after 5-6 month-1 year  they dump it and fast buy everything at cheap price? market manipulation become so simple if you have too much power.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: bitdwarf on December 25, 2013, 11:46:50 AM
Rather than market cap, we should rank coins on the aggregated value of published buy orders. Market cap is meaningless without volume.


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: stas on December 25, 2013, 11:49:57 AM
It's not going to stop at number 5. It's going to number 2 within the next few months. And eventually number 1.


I doubt that:)


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: Amph on December 25, 2013, 11:50:49 AM
lmao number 1 is untouchable


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: whorehay on December 25, 2013, 11:51:44 AM
I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released :). Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" :).) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.
nxt - those 70 people who has ALL nextcoins are created Artificial Scarcity(http://en.wikipedia.org/wiki/Artificial_scarcity),
they sitting on their premined from genesis block millions and only a little % is in trading exchange.

I like nxt and all features, but this capmarket is total bullshit.

Emunie seems much better coin, has many similar features. yes, concept is different.
with emunie you will never 6000% growth, it was made for another purpose.

But the situation when 70 holders in NXT own 95% ALL premined coins, coz mining is closed.
In future big holders take biggest part of profit coz the sistem made in this way - more you have -> more you get.

So beatiful coin, i love it so much. But this shit make it looks like SCUM coin.
Only 70 people get everything grom genesis block and now they pump the price to the moon, when demand is high and they sell only fucking 1%.

And yes i have a little amount of it, and yes - i miss the train.
But this premine for normal people will be like a red rag to a bull, coz it obvious that now owners of genesis millions will control price in a way they want to and they want it to be high.
What next? after 5-6 month-1 year  they dump it and fast buy everything at cheap price? market manipulation become so simple if you have too much power.

+1


Title: Re: NXT breaks into the top 5 coins by market capitalisation!
Post by: medveworld on December 25, 2013, 11:58:08 AM
DOGE is th RULE! nxt suxx