Bitcoin Forum

Fun fact: the genesis account http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818 that credited all the original stakeholders used this passphrase:

Quote from: 1984 - George Orwell
It was a bright cold day in April, and the clocks were striking thirteen.

As I've pointed out in my first post https://nextcoin.org/index.php/topic,3608.msg34002.html

1.5% of NXT accounts are trivially crackable with a 15 line script and a widely-available passphrase list (the rockyou leak dataset).

I've let my script keep running on more lists since then and at current measure have recovered the passphrases of a little more than 3% of all accounts that have ever been used.  Since genesis ~8M NXT has been sent to these "weak" accounts.

As I pointed out in my original post, my motivation for doing this was to investigate the root cause of the rash of thefts that had been reported (since I suspected weak passphrases) as well as prod the devs to drop the brainwallet-based key management scheme as the default option.  I actually cracked the genesis account a few days ago but originally thought my code was just buggy when I saw it's balance was negative ... LOL.

As a side note, I should point out that widespread knowledge of the genesis account key isn't a security issue per se.  Although I'd advise devs to be defensive moving forward about the possibility of integer overflow/underflow whenever dealing with amounts/fees now that the whole world has access to an account with a negative balance.

5000000000 is better, so the price will not be too high, will be more attractive.

so，this is like a pre-pre-sale? We just enrolled,when you are ready, then the exchange begins!??
wow,this is much better than NXT, the early NXT shareholder has a 20000X pay back!!!! That' within no more than half a year.
I hate people crowed to buy NXT.

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

to everyone who paid 1 Bitcoin

Okay... did the original devs get any coin?   Is so,  how much?

Q:    how many bitcoins are you going to contribute? (Are you going to keep the coins you contributed yourself?  Or you will take a creator cut (certain %)
BCNext::    I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.

What happened with the 21 Bitcoins?

Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.  21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.  BCNext did everything only for the people, not for the money.

The original funding period was open for over a month and a half.  That was more than enough time for everyone who wanted to invest to invest.  The only reason he only collected 21 BTC was because there was very little interest.  No matter when the IPO period ends there will always be people who are "left out".  You could conduct the IPO over a period of a thousand years and there would still be people "left out".

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

(1) No database.
(2) Poor wallet security.
(3) Insecure proof of stake scheme.
(4) Difficult address formatting.
(5) Closed source
(6) Anonymous founder and anonymous developers
(7) 21 BTC buy 100% of 1 billion coins,  how fair is that?
(8) Uneven distribution,  4 guys have like 70% of all the coins.

Please let us know what NEX will do compared to NXT.

(1 ) What database will you implement? What programming language btw.?
-> LevelDB.  Java
(2 ) How is the proposed security mechanism? Some pseudo-code would be nice.
-> Bitcoin like Wallet
(3 ) How is the currently implemented PoS insecure? How do you intend to improve it? Give some technical details please.
-> Hybrid with Proof of Burn
(4 ) How is the address space of NEX designed?
-> NEX id is just the public key of the user pass phrase.   There is no checksum.  There is no user recognizable identifier that it is a NEX id.  Public key therefore can be hacked because pass pass phrase follows human patterns.
(5 ) Where did you upload the alpha version of NEX? It's open from the beginning I assume, right?
-> When available, we will people know.
(6 ) You are Carlos Perez, correct? Who are your developers?
-> Carlos Perez is the lead developer.
(7 ) You plan to rise 1 Mio NXT as buyin,  how is that fair compared to the 21 BTCs?
-> We limit the amount of NXT you can buy.  We keep it open until all 1 million is consumed.   We do not close it early.
(8 ) How will you defend issuing NEX to the same guys (sockpuppet problem)? What will be your stake in NEX? What stakes will your partners and developers get?
-> We have are engaging several partners and this has yet to be determines.  The final distribution will be let know before a single NXT cent is spent.  Oh... sorry... did not realize that NXT doesn't have decimal places.

Best of luck with your Nxt.

(1 ) What database will you implement? What programming language btw.?
-> LevelDB.  Java

(3 ) How is the currently implemented PoS insecure? How do you intend to improve it? Give some technical details please.

-> Hybrid with Proof of Burn

(4 ) How is the address space of NEX designed?
-> NEX id is just the public key of the user pass phrase.   There is no checksum.  There is no user recognizable identifier that it is a NEX id.  Public key therefore can be hacked because pass pass phrase follows human patterns.

(5 ) Where did you upload the alpha version of NEX? It's open from the beginning I assume, right?
-> When available, we will people know.

(6 ) You are Carlos Perez, correct? Who are your developers?
-> Carlos Perez is the lead developer.

(7 ) You plan to rise 1 Mio NXT as buyin,  how is that fair compared to the 21 BTCs?
-> We limit the amount of NXT you can buy.  We keep it open until all 1 million is consumed.   We do not close it early.

(8 ) How will you defend issuing NEX to the same guys (sockpuppet problem)? What will be your stake in NEX? What stakes will your partners and developers get?
-> We have are engaging several partners and this has yet to be determines.  The final distribution will be let know before a single NXT cent is spent.  Oh... sorry... did not realize that NXT doesn't have decimal places.

Best of luck with your Nxt.

This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.

I'm revising my original 500Nxt pledge to just 50Nxt =2500 Nex
reason is Nex is not gonna be a Nxt clone as you originally announced (and many pledged their nxt based on that asumption).
I appreciate that you are now trying to do something different/better as you say but it won't be easy and if you pull it off will take too much time.
also closing the original thread cos you couldn't moderate it made me more cautious
gl

No just straight clone.

Maybe just the address to the way bitcoin does it..... maybe just that.

Or if easy,  replace also the persistence implementation.

Replace persistence after first release.

Extee - you might want to change your mind again! NEX will be a Nxt clone with only one or two changes:

A couple of questions, these might be silly, but I'll try anyway:

Will the option to invest remain open until you have received 1M NXT or will the window close at some time whether or not the 1M NXT pledges have been received?
Edit: I guess this was answered above.  :P

If you do receive 1M NXT pledges, and not all who pledge actually invest, what will be done with the remaining NEX allocated for NXT users?  Will there be an option to come in and buy up the remaining shares? Will the 10,000 NXT cap be lifted for those who would like to buy more? Edit: It seems like this option could remain open for quite some time if not everyone invests.

How often will the pledge list be updated so that we know that our pledge has been recorded?

Looking forward to trying this out.  Cheers.

Because we can do it very quickly,  we will release an industrial version of Nxt.

All the coins will be distributed to 3 main parties,  Visacoin victims,  NXT exchangers and free loaders.

We are giving this to the community to eventually promote and maintain.   In short, we will create the crypto currency, but it is up to the community to adopt it and cultivate it.

Just to make sure i understand you clearly, you will be copying the current nxt source code, making some industrial changes and then release the source code to the world. It will then be up to the nex community to adopt and cultivate it. Does that mean you wont provide any servers or support? What about industrial bug fixes, new versions? What will happen to all the investors funds if you just keep it all.

What will you do with the $100000 worth of nxt you will get? Should you spend some of that on making sure the nex network actually works?
Shouldn't you distribute the one million nxt to all the nex holders equally?
Is that too much to expect? Would it impact profits too much
Please do not mislead me

James

So it is clear,  CodeAudit is a for-profit corporation incorporated in the state of Delaware.

FrictionlessCoin will be the brand for products that will create all kinds of crypto-currency software for sale.

One of these products may be a Nxt clone that we may offer for sale to the public.

Carlos Perez is a shareholder in CodeAudit Corp.   "FrictionlessCoin" in this forum relates to the actions of the corporation.  "solracx"  in this forum relates to the actions of the person.  

So it is even clearer to you, ZenithCoin is owned and by Carlos Perez.   FrictionlessCoin created ZenithCoin.

FrictionlessCoin also is the lead developer for iXcoin and makes its software contributions for free for iXcoin.

FrictionlessCoin has other projects in the pipeline regarding crypto-currencies.

In short,  if FrictionlessCoin decides that selling a Nxt clone has financial potential,  then it is clearly within the laws of the United States of America and the State of Delaware to provide such software.

Just to clear this up:

You are raising 1000000 Nxt, which is at this moment worth 90 BTC which is around $ 72500.95

Will you be giving reports what the money is spent on, like any company does?

In fact, we rather not take Nxt as purchase price,  but we don't know where else Nxt holders can spend their coins.

Well, you could always open up your NEX/NIX IPO to other currencies (such as BTC), and let people pay using that instead of NXT? If NXT holders really want to get rid of their coins, they can do so at bter, dgex, etc. These exchanges work for me (although I do understand that your NXT deposit might not have cleared yet, due to it being just 1 NXT).

ok.. I'm in where do i send the Nxt i have?

sorry if i missed instruction on how to reserve..

This seems all honkey dorey until you actually sit down and do the math.

This may seem like a "worst case" scenario, but we can assume it will be the real world scenario as it is based on the entire premise of this coins foundational function and nets the most gains for any given participant (even though the long term results are disasterous). To consider any other scenario would be to assume that no one takes advantage of the Lvl 1/Lvl 2/burn/inflation/deflation system, which self nulifies any argument attempting to do so as it renders the purpose of the feature and their basis moot. You have to throw either the NEX system or game theory out the window. I think we know what the result of that ends up being.

We can assume that everyone will burn immediately, forgoeing the 1 NIC/week *ANPI (5%) for the 5 NIC/week *NICS inflation (25%) right away. I realise that everyone may not burn at the exact same time, but it is in their best interest to burn immediately so it's a practical and safe assumption. Provided that doesn't insta-kill NEX as the money supply would meaningfuly deflate to nothing on its release, (albeit temporarily, as it technically reinflates over time), we can proceed with the excersize normally.
(*See below for meaning of ANPI and NICS acronyms)


So let's have a closer look, shall we.


Our Baseline is 1 Billion NIC and 0 NEC. But remember that we burn immediately.

Well use an arbitrary 1 year period as our time scale in this excersize for the sake of simplicity and organization.


NEC Inflation
-------------
1000 NIC Burn = 1 NEC

Total NIC supply (TNICS) / 1000 = NEC Supply (NECS)

NECS + Previous years NECS = Total NECS (TNECS)



NIC Supply (NICS)
-----------------

1 NEC creates 5 NIC/week. So,

Total NEC Supply (TNECS) x 260 (5x52 weeks) = NIC Supply (NICS)




Annual NIC Passive Inflation (ANPI)
-----------------------------------

1000 NIC = +1 NIC/week

(NIC Supply (NICS) / 1000) x 52 (weeks) / 2 = Annual NIC Passive Inflation (ANPI)

NICS + ANPI = Total NIC Supply (TNICS)

*Why do I divide by 2 to get ANPI? After the first "mass burn", the NIC supply shrinks to zero and slowely inflates, all the while generating NPI units at the +1/1000 NIC a week. To simplify, we will divide this calculation by half and consider that the average increase. I consider this an effectively safe calculation assuming that burns happened at random as well. I think that's being fair and generous in the favour of NEX.



All numbers have been rounded to the nearest thousand(th) for the sake of simplicity.

TNECS (Mil)          NICS                           TNICS      
--------------------------------------------------------
Y0  -  Immediate burn of the NIC supply  = 0    <--- Only real deflation of the money supply (but we can see already this is just a trick up NEX sleeve)
Y1  -  1.0             260,000,000 + ANPI =    266,760,000
Y2  -  1.267          329,420,000 + ANPI =    337,985,000
Y3  -  1.605          417,300,000 + ANPI =    428,150,000
Y4  -  2.033          528,580,000 + ANPI =    542,323,000
Y5  -  2.575          669,500,000 + ANPI =    686,907,000
Y6  -  3.262          848,120,000 + ANPI =    870,171,000
Y7  -  4.132        1,074,320,000 + ANPI =  1,102,252,000
Y8  -  5.234        1,360,840,000 + ANPI =  1,396,222,000
Y9  -  6.630        1,723,800,000 + ANPI =  1,768,619,000
Y10 -  8.399       2,183,740,000 + ANPI =  2,240,517,000
Y11 - 10.644       2,767,440,000 + ANPI =  2,839,393,000
Y12 - 13.483       3,505,580,000 + ANPI =  3,596,725,000
 

After evey mass burn, the money supply (NIC) will effectively go to zero and slowly inflate to its maximum amount when the next burn will happen. The volatility caused by massive shrinking and expanding of the total money supply is insane for obvious reasons. Even if this does not happen in a nice clean manner as described, it's an uphill argument to say there wouldn't be massive fluctuations in the money supply. Note that the first burn is the ONLY year that causes an actual meaningful deflation (but we see it's an illusion if we look at the proper time scale). Looking 7 years into the future a problem peaks its head out. Look at year 8, 9, 10 and its obvious where this is going. We can easily conclude that it gets exponentially worse from there, going further into hyperinflation with disasterous results. This system is a combination of disasters that would make bitcoins volatility look like a blip on the chart. This is the zimbabwe dollar of crypto.

Here's another potentially fatal consideration. If burning NIC to NEC nets 25% per annum, why would anyone ever hold NIC?! It's easy to see that everyone would likely burn any NIC they ever get straight to NEC to put it to work generating more NIC. This nulifies the NIC supply (the actual money) and hyperinflates the NEC supply (the static, wallet digit. AKA, useless except to generate more NIC which will be burned to generate more NEC, ad infinitum). The only time anyone will hold NIC will be to sell it. NEX would self destruct from either the currency (NIC) supply being perpetually burned to non-existence and/or becoming a game of hot potatoe until the value drove itself into the ground.

I'm better with logic than mathematics so forgive any crudeness in the latters organization/presentation.

Feel free to crack my reasoning/math apart. Maybe I have made a simple mistake, but it seems pretty solid to me. Even without the math, the second argument is pretty fatal to the concept.

Conclusion? NEX is bullshit. The only "feature" separating it from Nxt is VERY fataly flawed. Is fictioncoin knowingly pushing broken garbage to take 1 mil Nxt out of the pocket of Nxt investors and put it in his? Maybe, maybe not. Can you trust the person's thinking that brought you a system this flawed? That's for you to decide. My personal opinion is NO. This whole "IPO" is pretty stinky, along with the other "projects" I've seen him involved in. I'd be cautious, skeptical and highly suspicious.

I can do 200 Nxt for 10k NEX.

Thank you for analysis.

The proof of burn feature will not be with the Nxt clone.

NEX (Nexus is an EXchange) Coin

http://s11.postimg.org/6ui2jth9f/icon.png

NEX distribution to be fair to all will be merit based.

You automatically get a percentage of NEX if you show interest.

You get a percentage every time you contribute to NEX.

For the Nxt users who feel disenfranchised,  we will allocate 5% of NEX that they can purchase in exchange for NXT.  We will offer a steep discount of 1 NXT for 50 NEX.   5% of NEX is 50 million coins, this is a hard limit.  Nxt Coin holders are limited to 500,000 NEX per user.   The offer ends when NEX is distributed or the 5% is exhausted.   Nxt owners... this is your opportunity to become an early adopter.  

Please post here to signify your interest in performing the exchange.

We will not take any Nxt until the day when NEX will be distributed.

Please include the amount of Nxt you want to exchange.  We will only accept 1 million Nxt.   This is a hard limit.  

This offer is open now and will close when 1 million Nxt is reached.

We reserve the right to cancel any request.

PROPOSAL:

Implementation of the following PROOF OF BURN:  https://bitcointalk.org/index.php?topic=422309.0;topicseen  FOR NEX


In summary,  this looks like an excellent idea.   Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.  

This proof of burn functionality is superior to the 'forging' feature of Nxt.

The best way to think about this is to make the analogy between banks and enterprises.

Actually,  I should rename the LV1 and LV2 coin,    "NEX Invest Coin" and "NEX Enterprise Coin" .

With the NEX Invest Coin you get 5% interest. You never lose your principal.

With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.

It is actually a quite excellent and simple system.

Here is a rephrase of the original description:

NEX Invest Coin (NIC) coins are the name of the currency that will be distributed initially. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional NIC coin per week for every 1,000 NIC coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 NIC coins, you will receive roughly 50 NIC coins, or 5% per annum.

NEX Enterprise Coin (NEC) coins can only be obtained by burning NIC coins. For every 1,000 NIC coins that are burned you will receive one NEC coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each NEC coin will generate five NIC coins per week. In one year of holding one single NEC coin, you will receive roughly NIC LV1 coins. This equates to an increase of 25% per annum.

Note:  The only coin that is tradeable is NIC... so NIC is synonymous with NEX (the NEX currency symbol)

5000, OOO
1000, romawi
10000, garicup
10000, nomailing
20000, canth <--- exceeds limit
10000, chetalk
3000, kolbas
10000, teco051
10000, bitular
8000, indigon
4000, homerzhu
2000, nfigueir
5000, tobyliciously
10000, atomiclock
1000, hvezdasmrti
10000, smophf7
10000, ow48uh
10000, rioshock2
1000, fragout
10000, sottymax
4000, LeFiste
10000, soarlyzed
10000, snipedrunk
2000, Swisscoin
5000, dannac
10000, fibbonac1z
10000, vemdoctor9
5000, Siegtal81
5000 irrawaddybtc
10000 Franconomasky
2000 cntrlsquare
10000 Jaguar0625
5000 NapoBear
10000 tylenol3mit
6000 dlog
1000 toolatetoberich?
2465 eXme
10000 miramare
1000 langkeming
1000 steyast012
1100 alrose
7000 bitfromit
1000 icoinv
4000 lenco
1000 Msile
10000 ripplebtc
10000 cremstopper
10000 jajansen
2683  lonesoul
5000 zurra
5000 td services
10000 lda1000
  7000 SyRenity
10000 wallacemckart
10000 Attack.of.the.Clones
 3000 serogen
 4000 atleticofa
  7500 Kuttingco
 7500 Kuttingcorners
10000 User705
 1000 tk808
 1000 virtualaddict
10000 Revelations86
 2500 psybits
10000 aa417444103  

408,000 total <-- 40% of Limit
Limit is 1,000,000 NXT
Limit 10,000 NXT per User
Amounts under 1000 NXT not listed here but will be included

Appears to be around 100,000 NXT commitments per day. This will likely close in 7 days. So don't forget to make your reservation.

Fun fact: the genesis account http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818 that credited all the original stakeholders used this passphrase:

Quote from: 1984 - George Orwell
It was a bright cold day in April, and the clocks were striking thirteen.

As I've pointed out in my first post https://nextcoin.org/index.php/topic,3608.msg34002.html

1.5% of NXT accounts are trivially crackable with a 15 line script and a widely-available passphrase list (the rockyou leak dataset).

I've let my script keep running on more lists since then and at current measure have recovered the passphrases of a little more than 3% of all accounts that have ever been used.  Since genesis ~8M NXT has been sent to these "weak" accounts.

As I pointed out in my original post, my motivation for doing this was to investigate the root cause of the rash of thefts that had been reported (since I suspected weak passphrases) as well as prod the devs to drop the brainwallet-based key management scheme as the default option.  I actually cracked the genesis account a few days ago but originally thought my code was just buggy when I saw it's balance was negative ... LOL.

As a side note, I should point out that widespread knowledge of the genesis account key isn't a security issue per se.  Although I'd advise devs to be defensive moving forward about the possibility of integer overflow/underflow whenever dealing with amounts/fees now that the whole world has access to an account with a negative balance.

Note: If in the event that NXT prices continues to fall,  we reserve the right to request BTC at an exchange of 0.00007 BTC/NXT.

I'll keep my pledge in but I do not accept this change in terms. You may want to add this along with an explanation to the announcement. A major problem with the initial NXT pre-sale was that changes, like the 300-100% ramp-down in NXT stake per BTC, marker transactions, and ending time or block were not added to the announcement.

The reason why we added this reservation is not due to the possible price fluctuations with BTC,  but because of the possibility of an complete failure of the Nxt system where coins are not exchangeable in exchanges.

Not sure what you mean by 'marker transactions' and 'ending time'.   At this time,  there is no ending time until 1 million Nxt is raised.  At this time we are half way there and believe that once a working implementation is shown that this will close very quickly.

I was referring to the NXT announcement, not NEX, never being updated to include changes in the pre-sale buried in the discussion. Having the 300% early adopter bonus which reduced steadily to 100% by block count for NXT pre-sale added to the announcement would have encouraged more people to invest before it was cut off. There were other major changes as well.

Hey, I want to pledge 2000 NXT.

One question, If I reconsider and only have 1000 NXT after a while, can I change the number I pledged?

You cannot exceed the amount of your pledge once this offer closes.   

If those who make a pledge are unable to supply the pledged Nxt,  that allocation will be distributed to the general public at the same rate.

Thanks for the answer. In this case I pledge only 1000 NXT.

You cannot exceed the amount of your pledge once this offer closes.   

If those who make a pledge are unable to supply the pledged Nxt,  that allocation will be distributed to the general public at the same rate.

Can you answer xtester's question? I.e. if someone pledges X, when it comes to actually buying in, can you buy Y where 0<Y<X, or must you buy either X or none at all?

You can buy Y.  The remainder X-Y will be resold at the same price to the public.

The coin will be created and sold to the community.  

All proceeds for the sale,  just like the Nxt sale will go to the developer.   So for BCNxt who created Nxt, he received 21 BTC.   We hope to raise 1,000,000 NXT or equivalent to pay for development expenses.

I hope the community will step up by running the necessary nodes to secure the network.  We will provide instruction on how to to so.

More details will follow when we have the coin ready for launch.

Shares will be divided between Visacoin victims,  NXT buyers and 'Interested' parties.

All NXT buyers who reserved have the privilege to purchase the amount they reserved.  1 NXT would likely fetch around 500 of these coins.  Yes, 500 coins, not 50 as previously allocated.  So if 10,000 NXT was reserved, 5 million of these coins are expected.

Let me know if that was clear.

To be honest I'm a little confused by this IPO, I put my email interested on site. I can't remember what I even did or didn't do, so may clones i'm confused.

I want to buy 10,000 NXT into this, does this need to be paid now? or just verbally? Anyway I pledge 10,000 NXT please tell me if I need to actually pay it.

Spreadsheet updated.

Total pledged:  614248 Nxt

I want to double my invest of 1000 nxt to 2000 nxt.
Please update

You are only selling 5% to this thread.  That leaves 95% to the "Just Click on Interested" crowd and the developers stake.  I thought I heard you mention that only 300 people signed up on the website. Something doesn't make sense to me.

Does that mean they will have a bigger stake than the people reserving a deal in this thread?  
Can you explain the numbers?  
How is the other 95% being allocated?

My opinion is that 5% is way too low for the only group that's actually paying for a stake.  Unless I'm missing something, please correct me if I'm wrong.

5% is allocated for this NEX exchange.  1% is allocated for VisaCoin holders.   An unknown percentage will be allocated to those 'just interested'.   There are at least 500 'just interested' folks,  we hope to get much more.

Note:  NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics.  Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes.  Think a year of distribution followed by a low inflation rate.  The initial distribution will however be proof of stake,  so there is an extreme advantage to be in the initial distribution.  

This 5% will be used for continuous development and maintenance of the network.  A stable set of 20 nodes will be allocated on launch to secure the network.  This set will increase over time as the network grows in participation and size.

Thanks.  How many total coins will be in the initial distribution?

Adding 1000 NXT

ok I recall this was just say interested then you get a stake.

in any even I pledge 2500NXT

is that how I get a stake?

interested，but what is VisaCoin holders?

Oh last question.  But in your OP, you basically linked to another coin ANN thread that was made before this one was, and copied and pasted the lvl1 and lvl2 coin implementation scheme.

I don't get it.  Are you the toplevel coin developer as well?  Or are you just going to copy their idea for nex?  It would just seem weird that there are going to be 2 virtually identical coins coming out soon both with initial investor funds accrued?

Would appreciate your reply for clarification.  Thanks.

Note:  NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics.  Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes.  Think a year of distribution followed by a low inflation rate.  The initial distribution will however be proof of stake,  so there is an extreme advantage to be in the initial distribution.  

I'd be interested in more detail on this distribution model.  The guys at Etherium pondered the same issues and ended up with an IPO / PoW setup.  What specifically is your plan to distribute coins without PoW?  This is not a detail, it's a huge question that should be answered in detail before funding occurs.

Is it closed?7days has bee past. can i buy now?1nxt=50nxc

Hello, is it over? Or i can take part now?

There will be an initial distribution (as discussed in this thread and other threads).  After that (yet to be revealed) distribution mechanism will be made available for around a year.  Then the distribution drops to a low inflation rate.  That is the current plan.

Will the nxt payments only be due AFTER the fully working client is released for inspection?

I am now only willing to do my 10,000 nxt pledge based on whether you will accept escrow on the payment (through whatever trusted bct member, 'escrow.ms' comes to mind, free of charge)...and I HIGHLY suggest everyone else in here does so.

There have been a ton of copy pasta IPO schemes lately (most notably stackcoin), so I suggest everyone do their due dilligence before payment.  I'm not saying for sure this is a scam, but your copy pasta of the 'proof of burn' concept has set off some alarms for me.

I hope you are willing to accept escrow to gain trust on your 'business model,' else you can count me out.  And if not, then I'll be sure to bump my own thread and say 'see guys, I told you so.'

A pledge reserves the right to acquire NEX.  Payment will be due after a fully working client is released.   So there is no need for the escrow that you are requesting.

Maybe you are thinking of some other coin that has an escrow.   You don't need to do that here.

Insert Quote
I pledge 1000

I pledge 10000

I pledge 10,000 NXT

8,000 Nxt left to pledge and this fundraiser closes.

Okay I will pledge 8000 so you can close this thread and go to work  :)

is it to late? if not I would pledge 2k

let me know.

Thanks!

Excellent... best of luck with your NEM project too!

Nxt to NEX Fundraising is now closed.

All pledges after March 11, 2014, 03:46:51 PM will go to the waiting list.

If any of the original pledges drops out,  then those on the waiting list will be accommodated.

Thanks for your interest!

I was "interested" here:

https://bitcointalk.org/index.php?topic=422052.msg4629741#msg4629741

But didn´t see this thread,... ;(

You can make a pledge today in case someone drops out of the original list.

Sorry why is it that I'm not in the list?
I expressed my interest quite early here: https://bitcointalk.org/index.php?topic=422052.msg4650801#msg4650801

Not to worry.  We have not tallied up all those interested.   

So what shall I do to have my part, if any?

If you like of Facebook or follow on Twitter then you can get a larger stake than just submitting your email.

Alternatively, you can add yourself to this waiting list.

10000 nxt pledged. put me in waiting list. thx

Please let us know what NEX will do compared to NXT.

(1 ) What database will you implement? What programming language btw.?
(2 ) How is the proposed security mechanism? Some pseudo-code would be nice.
(3 ) How is the currently implemented PoS insecure? How do you intend to improve it? Give some technical details please.
(4 ) How is the address space of NEX designed?
(5 ) Where did you upload the alpha version of NEX? It's open from the beginning I assume, right?
(6 ) You are Carlos Perez, correct? Who are your developers?
(7 ) You plan to rise 1 Mio NXT as buyin,  how is that fair compared to the 21 BTCs?
(8 ) How will you defend issuing NEX to the same guys (sockpuppet problem)? What will be your stake in NEX? What stakes will your partners and developers get?

I'm looking forward to your honest and detailed answers.

would like to pledge 10k NXT, please add me to the list, thx

Is there any official announcement date? or the project is dead

Announcement:  Code to be released for testing on June 8th, 2014