Bitcoin Forum

Next coin is highly misunderstood and undervalued on this forum?


I still see most people when its mention just dismiss it as a scam coin, which is friken ridiculous as its the only new built from the ground up new coin since Bitcoin. Sure it had a terrible IPO, or at least the distribution upset a lot of people, fair enough. But everyone deserves to know the ground breaking nature of this coin and surely if people can't be convinced by that on this forum then what hope is there to communicate it to the Dogecoin using masses?


I know I will be accused of pumping a coin but I seriously think this is a coin that should be held in high regard in the Alt section as a serious contender to topple Bitcoin, instead most hate it out of ignorance or misinformation. Personally I think anyone who doesn't buy this coin in the coming weeks will deeply regret it as the price goes up like a rocket once the penny drops...I don't actually care about the short term price cause I believe the coin will eventually find its market price whether or not people on this forum whole hardheartedly support it or not. People can go back to their junk coins for all I care..

But mark my words, and with zero hyperbole, it will soon be unstoppable..

NXT not next coin. NXT is a brand new crypto-ecosystem, not just a currency :)

But yeah I agree totally with your post

^^Yeah NXT isn't a mineable coin.

I'm just happy I never invested in it when it first became big and popular. I would have lost 50% of my money..

I'm not going to criticize this view but I want you to have a chance to understand more fully that this is not an average pump and dump coin. I actually don't blame you watching all these crap coins being pumped and dumped. Thats NXT's problem in many ways is that there is so much crap out there its hard to discern when something different comes along, and different it is.


Here's a clue, Bitcoin Magazine doesn't do articles on Titties, Meow, Vert coins and sticks mainly to Bitcoin issues. So when they choose to do an article on NXT when its only weeks old you know people in the know, know this is something worth sitting up and taking notice of.

http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/


My point is this scam coin crap has got to stop and the forum needs to be the first that gets behind the coin and at least recognizes its ground breaking unique qualities. Enjoy your Titties and Batcoins but lets get serious and recognize in our little section the world might possibly be changed by things like NXT. Lets help each other get on-board not to pump and dump but to share this opportunity with each other. Spreading falsehood will only discourage would be investors and benefactors of the inevitable gains NXT is likely to make....I rest my case :)




Disclaimer: Of course I'm a holder of NXT but I have no plan to sell anytime soon...

Exactly. One of it's strengths.

After having NXTs for a while I now feel completely safe that it's not a scam At this point, after all the work being put into it, never having any issues sending or receiving NXTs, etc, why put all that work to scam people instead of making more money by having a very legit coin?

Why go through all that work just to pump it then dump it, when there's more to be made by having having it be successful? It would be much easier to make/Copy Paste another Bitcoin/Litecoin clone.

The highest I've seen it was at .0001, and the last I saw it was at .000085, so that would not equal to a 50% loss. It's also a new coin, so chances are that it will continue to go up.

You want it to topple Bitcoin because...?

Nxt isn't also a shitcoin because ...? This one isn't even rhetorical, I have no clue what makes Nxt special.

No doubt. Of course it'll go up we have barely got started

Just make a copy of NXT coin without terrible IPO and we are fine.

I think it's partly because a lot of people on this section of the forum are also miners. They see NXT as a threat.

The distribution could have been better, but honestly, if the IPO was re-launched today I don't see how it would change things. In a way, all the skepticism surrounding NXT played to its favor because you didn't have these large investors dumping dozens of BTC. Like with Counterparty, someone burned over 30 BTC yesterday to get a stake over 1%. Basically the people that complain about distribution are just mad they missed the IPO...

Anyway, I agree this is the most promising crypto out there. Can't wait to see where it goes a year from now, interesting times ahead :)

Read about nxt here www.nxtcrypto.org
It's the first brand new crypto currency with entirely new code. Decentralized exchange and all.

I also read this:

I wonder if I could also "develop" a scamcoin, think about some innovative promotion, and get rich out of thin air like this...

I don't understand this.

NXT started after the IPO at 0.000015BTC/1NXT. now it is 0.00008 BTC/1NXT ... how could you lost 50% of your investment???

That means it only went up 533% in price I'm not saying that's not a lot but I was under the impression it skyrocketed by way more, and yeah I have no idea what 50% that guy is talking about.

it's far from undervalued, $70Million cap and its very new. that's amazing enough

when you take a look at the chart: It was very hard to lose money with NXT coin. You find just two spikes, otherwise there was steady growing

Not all of us are NXT IPO investors  :D

although I obviously wish I was an IPO investor with NXT  :D

But, I bought in at a peak and lost pretty bad. Similar to Doge. Lost a shit ton more with Doge, but still lost like 50% on NXT.

I fail to see what value a coin has for everyone where all the coins are generated in one step out of thin air and distributed to a few ppl.

But enlighten me.

I am pretty new to the cryptocoin scene started to dig into all this at Christmas.

I tell you what I know about Nxt so far:

- I can not mine it. (Very bad when you are here to mine coins)

- I had to "invest" in it at a timepoint I hardly knew more than what bitcoins are and wondered how I ever get to my very frist bitcoin. (not so easy) So how can this coin be fair distributed to any ppl that get interested into cryptocoin at a later time? How can it be any usefull to them?

- POS: The one that holds it gets more and more coins .. the one that holds most gets the most.. or the rich get even richer.. THAT should be a good idea???

- Why should anyone trade something where it's amound increases by not trading? A currency has to circulate. This Nxt is by design an AnttCurrency.

- "With NxtT Transparent Forging, the network can detect which accounts do not participate in the proof-of-stake block verification process and temporarily penalize them."

 Here I lack experience since I dont have Nxt. But this sounds to me like that evryone that wants to take part int his Nxt thing has to run somethign all the time to help the beig POS holder to get more of their coins?

- unprofessional java code. Java is a bad choose but at least do it right then.

- KLONE project. A clone of Nxt with the purpose to have those members generate even more clones. That's like a cult. What's the prupose of this? Not even Nxt is etablished. How should a flood of clones help here Nxt's case?
 
I can't help but I see nothing usable or of value in this Coin for anyone except for those 70 that holds them and dream about its value.

Nxt has much of that "marinecoin?" I read where the dev made it so that he will get's everything (premined) and the miner are just a bunch of evils that deserve to get nothing and endured only to make to get his coins some value.

Nxt took that "all for me" idea a step further by simple getting right of a mining step.

Now the Nxt ppl have all the coins and wonder how to boost the values even more. Not that they already are valued much too height for their true value: NO Value.

True there are enough that will readly give the non deserved value boost.

I know other coins arent better...they just do it less obvious.

I'm also no IPO investor. If you are had invested in the IPO then your gain would be much greater than 500%. But for the IPO investors, the risk where much higher.

it is not true that only the first early investors benefit. For those who do not have the money to buy expensive mining hardware, it is a great opportunity. That there are investors who have plenty of money earned by nxt, is certainly not negative. something like that you will see in other crypto currency.

I found out about Nxtcoin a few weeks ago

It can't be mined in the traditional sense because mining is a waste of energy. Proof of Stake is why I also bought a few Peercoin, but Nxtcoin offers even more.

The 1 bn coins and 70 original investors is a red herring argument.  While its true that if they would sell all their Nxtcoins they would earn 70000 Btc, the reality is that nobody would buy them.  A dump of that ratio would soon bring its market cap price down to something like 21 BTC or so! ;-) They might get their money back, but its unlikely.

Turning the argument on Bitcoin, nobody seems to be moaning about the millions of coins owned by early adoptors of bitcoin. There is a statistic that suggests that the share of Nxtcoin is already fairer than Bitcoin.

The big thing for me is that the 51% attack problem disappears with Nxtcoin.  That is very important for scaling, because we are already seeing pools being able to fork bitcoin with their monopoly in mining.

The main thing for new users to remember is that I have been active in the crypto currency scene for the last 12 months. I've seen the scam coins come and go, and I have made some good money from trading coins.  I have invested in Nxtcoin because I think it has a future.  Its up to you if you want to agree, but nobody is forcing anyone to create the future - it will happen regardless! ;-)

Very good explanation

I just bought 235 NXT at dgex and am planning to buy around 0.02 btc of it weekly for the next few weeks as I think it is a good addition to any cryto portfolio. When I bought 1k NXT I got it and it went up 5 times but then I sold it to buy ghs in CEX lol should have kept it where it was but now I am buying back again to get to at least 5-10k NEXT if I can afford it and let it sit. ;D

Its not misunderstood even undervalued.

The IPO was a joke, too short and too much inside informations needed to join with more money, i understood well.

The early distribution was a trust holding all coins selling them hell expensive. I understood very well.

The market cap is not realistic because it contains almost coins which still were not traded yet any times. Just because artifical overvaluing. I understood very well.

I learned how the price works, 0.00010+ = trust selling 0.00006 and less = trust not selling = buy to sell at double price

I am hating NXT as much as possible, no misunderstanding or undervaluing, just logical reaction.

Well you fail to address the real question:

 Where is the value for any user to invest in Nxt?
 
 Where is the Value of Nxt that makes it superior for the user to start useing it for anything?

All you say is it's a good investment better than buying a new rig. (*)
Or it's a good investment because I (whoever you are) say so without putting an argument with value on the table.


>A dump of that ratio

They would be stupid to dump it all at one time.  If you see coins like doge and what value is dumped there over time through multipools then you see that your argument is thin. You can extract the value out of the marked but only of course if you convinced enough users that the coin has some value.

Ture Bitcoin early adopters have an advantages. But still today it's possible to get in and mine and be part of it and benfit (although yes with the asics its game over at least for bitcoin not so for altcoins and the next little people coins.. the current  cpu coins) And i bet most early bitcoin miner already sold most they had. There is no POS like Nxt has.

the 51% Yes a good thing. But doesnt generates direct value for a user.


(*) most on the internet have a PC and a graphiccard already and dont have to buy anything new to generate money.

sry I might be blind but I just don't SEE where Nxt is any better than any of the coins.

(Except the valid point that it doesnt wasts so much energy like the others).

I think hate is a bit of a strong word here. Remember crypto currencies are a huge human experiment of this generation and I must applaud not only the NXT Devs but also all the BTC AND CRYPTO Devs who are like a smouldering pot of ingenuity and ideas. We must take this great Experiment, with its ups and downs and flaws as a giant leap forward in the right direction for Mankind's economic advancement..Yes some people will not like this coin or that coin but think about it ..All this is far better than being controlled by a few banksters and the Pharma Industry and corrupt Govts..Once we put it all into this perspective..NXT coin becomes a Saint coin .. Just my 2 nxt.. :) peace..

well put.

Do you think that your focus on price moves and the missed opportunity of the IPO has made you irrational and upset about the actual NXT system and it's potential?

If iPhones were only given out to millionaires iPhones would still be a great innovation. It's important to separate the two things surely. Personally I missed out on the IPO and have yet to make much from NXT but I am convinced it will be many multiples higher than it is now. My belief is based on the idea that that people are gonna use it especially once certain functions are available like decentralised trading and colored coins.


I think if we are going to be critical of NXT we have to get over the IPO thing at look at the actual system. later adopters won't give a rats ass how the IPO went anyway...it's irrelevant at this point.


You said you hate it and it's over valued due to logic, ok what logic? I'm genuinely interested in your opinion. The issue I have is no one is having a serious discussion about NXT, people are either evangelical about it and the other side just says scam. People deserve a balanced debate on the merits of NXT and also it's flaws. As someone who wants to have a full understanding of new developments it's hard to get past oh it's a scam coin on one side and it's going to the moon on the other, it's tiresome. Calling stuff scam has become a way for people who don't understand something to sound like they know something it seems. You got to back it up with real facts about NXT not emotion of missed opportunities.

These POS only coins are a slap in the miners face. I will never support them.

So your logic is cryptocurrencies exist for miners rather than miners exist to serve cryptocurrencies? I want to call you out on that logic as senseless and based on pure emotion and self interest. I have had a massive interest in Cryptocurrencies for a while now but I just couldn't get my head around any meaningful mining due to lack of funds and tech knowledge to set up any meaningful rigs. So to me mining is not egalitarian as was the purpose but has become as unfair as any other form of distribution. Cause mining is simply a form of distribution that's all, your not really mining out of the ground you know.  :D


miners have had an unfair ability to get some new coins at stupidly low prices while the rest of us have to buy at multiples higher on exchanges. I'm sorry the tide might have changed and you lost you mining advantage but your not recognising that this is about producing a payment system not a miners pension scheme.

miners believe they have a god given right to be in charge of the coin supply /and of collecting fees.
satoshi gave them that powerr cos he needed them in the PoW infrastructure to secure the network and carry out transactions, therefore the reward.
PoS eliminates the need for them....so miners will hate on any such coin.
it's their livelihood so they will hate on Nxt regardless of technology and features and call it a scam even if the product delivers exactly what it says on the tin.
most BTT miners do not understand crypto at all so any technical discussion is wasted on them...infact you often see them saying how mining is the pinnacle of decentralization....when infact mining is the only thing in bitcoin which is not actually decentralized lol.

BCnext was right. there is no way to distribute coins that is fair to everyone unless you give equal amounts of coins to each person in the world on release.
distributing them to miners (0.001% of worlds population) is not fair
distributing them to investors (1% of worlds population) is not fair
distributing equal amounts to bitcointalk accounts for just saying "intrested" is still not fair (i seen someone complain about this too...)

ther'll always be billions of ppl left out of the coin distribution process ready to say it was not not fair. and anyone who was left out will have a genuine reason to argue it wasn't fair.
Bcnext asked a total of 21 btc for his work....and with hindsight i can say it was a very fair asking price.
i didn't invest at the time cos i thought it would be a scam...but some did and got rightly rewarded for the huge risk they took. i think that was fair imo although I didn't personally benefit from it.
Nxt is a good and innovative crypto technology (imo better than bitcoin) but with an unmarketable name. that's how I see it.

The price is still only 5 times the price right after the IPO, so stop crying "it's not fair", and just buy now. I bought after the IPO, but am really glad I did buy at all.
I have stakes in many altcoins (LTC, XPM, NMC, CAT, DOGE, MEOW, UFO, Reddcoin, LOT, MMC, DATACoin), some to a higher extent than NXT, but NXT is by far the most promising. Check my post history, you won't see me advertising any other altcoin on this forum.

NXT brings several advantages, but the argument that strikes me the most, is what follows.
BTC is valuable because with its proof-of-work it solves a problem: the problem of double-spending in peer-to-peer decentralized digital currencies. Well NXT with its proof-of-stakes solves an other problem: the problem of progressive centralization of mining. This problem has only recently become apparent. It is due to the growing cost of a private mining operation. If the trends go on, the majority of mining will be performed by a handful of large mining operations. This decentralization is dangerous for the integrity of bitcoin. With NXT, you can mine with an old laptop, now and forever.

The reputation of NXT is tarnished by many myths, which are debunked in the FAQ http://wiki.nxtcrypto.org/wiki/FAQ (http://wiki.nxtcrypto.org/wiki/FAQ)
In this thread, you will see several big shots (>200 activity) vouching for NXT. But don't take anybody's word for it. Install the wallet, buy a few NXT and try playing around. If you don't want to buy NXT, post your address in this thread and I'll send you 1 or 2 NXT to get you started.

Now the main thing that is missing to NXT is being accepted by vendors. But it's still very early, so I'm hopeful.

"The price is still only 5 times the price right after the IPO"

Same argument like "one apple in oppressive country costs in winter only 5 times more than in summer" Meanwhile the apple costs in winter 5.000USD instead of 1.000USD in summer.

Huh?  ???

I stepped in a month after the first introduction at 0.00001300 BTC and after that it went to 0.00013000 BTC!! 1000% rise! Ok, now it is steady around 0.0008000 BTC. That is still al lot of profit!!  ;D

I keep holding my NXT, there are a lot of great things coming which will rise the price only further! (such as a normal userfriendly client)

Nxt a scam… NO!
I have been very active on Nextcoin.org and it is surely not a scam. The cool part is that there many interesting projects realized all the time. For example: Peerexplorer.com (https://www.peerexplorer.com), which gave me in a weekend 300 NXT for just running a node! I now bought 5 nodes extra!

Here is the infographic you mean?

http://nxtcoin.blogspot.nl/2014/01/nxt-distribution-infographics.html (http://nxtcoin.blogspot.nl/2014/01/nxt-distribution-infographics.html)

Hilarious that the original poster tries to compare Vertcoin and Tittiecoin.

Does that mean NXT is a 2nd generation rapecoin?

We can't really call it undervalued. NXT practically still in beta, with very little real world ecosystem or exposure, so no one can tell a realistic value. The current value just a lot of opinions and based on the buyers/sellers feelings about "What's the loves/highest price what I want to get/pay for 1 NXT?".

Misunderstanding is a different animal. I don't think it's "highly misunderstood". The startup wasn't a very well orchestrated one, the distribution model also quite far from the familiar. In addition lots of people didn't realized that POS isn't something about equality and fraternity. All of this together caused lot's of high hopes initially and a deep disappointment later. But again, this is not misunderstanding, this is mostly inaccurate communication.
Certainly you have a few valid points on misunderstanding. The ignorance and greed, later the anger on the "latecomer" side, and the arrogance of some of the stakeholders was astonishing :).

Nxt: Just a scamcoin ; I never buy or use something with an unfair beginning (or closed-source).

What an appropriate post considering the title of the thread.

Thank your for your competent opinion!

you do realise you sound a bit silly here. BITCOINS current disribution is unfair but i bet you hold btc? Nxt is very distributed now. I was an original founder of nxt and ive distributed half of my nxt i had.
The fact is POS is old technology and will slowly phase out. bitcoin will soon become centralised when 3 big companies are the only ones with the hash power to generate the blockchain. What then?
Nxt is the future and has so much more to offer than any altcoin. When april comes around you will wish you had bought nxt @ 0.00008 i promise. and im not saying that to boost current nxt prices. I hold 1.4million nxt and you will have to pry them from my cold dead hands before i sell them.
Anyways sit on fence complaining or join the future movement your move!

Waiting for the ripple supporters...
xD

I understand that Nxt is the "Amway" of Cryptocoin.

Any new owner of Nxt will contribute to the "residue" income of current owner is just like multi-level network marketing of Amway.

How to use this coins wallet. Why the heck client needs JAVA.

I'm a Ripple supporter. ...and BTC... LTC ...NXT and Doge plus EAC...  Hmmm... actually I'm supporting everything what makes me profit :). So what's wrong with being a Ripple supporter :)?

No need for porting to different operating systems and making at least three kinds of wallets. I guess.

You just convinced me never to put money near NXT again. Good reasoning for once on bitcointalk

Really? I don't have the energy but most of the arguments here are either false or silly or weird. Spelling is horrible too.

I notice almost no one has even criticized the actual functions of the coin? Just the IPO and price.....groan.

+1

It is all about profit and nothing else. To say this is at least honest.

how many original miners mined btc at the beginning and gained thousands of btc? The old unfair ipo statement is no longer a valid comment. Yawn. Heck i guarantee ull regret turning your nose up at nxt within the NXT months. haha
Nearly every other alt coin that appears is essentially premined before hitting the exchanges so whats your problem with nxt at least we had 71 peeps instead of one guy minning shit coins with an asic. 
Im probally not gonna change ur mind but hey im not bothered your missing ou not me. Just wait and see when btc and alts cease to exist anymore due to only handling 7 transactions per second. Nxt will be blitzing 1000 transactions per second. Boom visa/mastercard terrority. Thats why NXT will succeed. Have fun minning dead coins bro

To be fair to BTC, the 7 transactions per second limit is an artificial limit that can be raised.

People undervalue Nxt  because the "high minded" arguments and tricks to conceal your own self-interest and to pump your own shit are seriously getting old.  ::)

On top of that, you're delusional enough to believe that your "green" scamcoin is going to replace BTC!

Well, I'm not an early adopter of BTC or Nxt. I also didn't buy Apple shares when they were $30 (or how low they ever were). Your point therefore is...?

To be fair to BTC, the 7 transactions per second limit is an artificial limit that can be raised.

[/quote]
"Can be" will be? Just like coloured coins can be added? Btc is old and dated dude old technology now. Granted nxt needed bitcoin to exist. But the whole "dirty" way of generating blocks is just awful and then theres the whole 51% attacks. Nxt is resilliant to 90% attacks. Its time for a new generation of crypto to take the reins. Dont get me wrong i dont dislike bitcoin its just ultimatley flawed. Nxt fills the nxt spot. I mean have you seen the nxt nodes running on a solar powered rasberry pi? Times are changing. Change with them or get left behind. Again im not pushing nxt on u completley upto yourself. But dont just read a scam comment about ipo and leave it at tht. Give nxt an hour while ur waiting on btc confirms to learn a bit more.

where u do you get scam from? NXT is not a scam coin it has never been a scam coin. Even in november last year it wasnt a scam coin. Heck its not even a coin. Anyone who screams scam coin is just under educated and cant read between the lines to even justify there scam claims. Nxt has delivered everything that was promised and still is doin. whats scam about that. All the people shouting scam are just pissed because they missed the boat. Sorry dudes. U can still join in. Why not read the nxt wiki joi  the nxt thread here at btt. Or is all that a bit too much hard work and its easier to shout scam.? All other alts are scam coims copys of btc ltc dont offer anything different thatn there originals btc ltc. Nxt is a totally new crypto not a scammy clone

NXT guy:  how do you address my premise that IPOs don't actually need to exist to create a 100% proof of stake coin, therefore, NXT was just a money grab.

https://bitcointalk.org/index.php?topic=443196.0

Maybe it is not a scam, that might be true. But it's definitely a bullshit coin.

Cryptocurrencies have always tried to solve the initial-distribution-problem in different ways, mining being a rather elegant one - it goes over a long period of time and in an as-fair-as-possible way, so everybody has a chance to participate. NXT and its "we'll just toss out the whole money supply that will ever exist for 21 btc" is the most laughable attempt at this I've ever seen. And they even try to sell it as a feature: "100% Proof of Stake(TM) - now with extra sauce!" - as if that was a good thing. There's a reason coins like Peercoin didn't go for 100% initial distribution: because it's completely retarded. ::)

Umm... speaking as a sizeable NXT stakeholder you are preaching to the converted. My comment was intended to be a balanced view, as the Bitcoin protocol is open to modification too. Everything else in your tirade just goes to prove that you lack objectivity, and really shouldn't be seen in a thread intended to promote understanding of NXT.

Exactly.  Hybrid PoW/PoS is actually legitimate.  A 100% IPO PoS coin is just a money grab scam.  There's absolutely no reason whatsoever to use the latter.

Actually, bypassing the need for mining is reason enough. I would agree however that NXT's IPO was very poorly implemented and didn't need to involve money at all.

and how would u do this fairly. Because even spreading your coins out between btt users is not really fair for a potential global monetary system is it? Few thousand btt users vs 7billion peeps who never even new of your distribution?
And if you gave your intial stakes away for free how do u stop multi acc sign ups.

umm my objective is to get people from shouting scam with no ammo and actually look into NXT a little bit rather than joining the linch mob that scream scam because they cant create a fair way to distribute a 100% pos currency.

she be sinking - grab your lifeboats, your kitty cats... oh and your dogecoin!! They are all going down!

Ok now back to work

Open your eyes and you'll see this isn't actually true anymore.

If I want to start mining Bitcoin, I need to invest at least $1000 for a mining rig, and if I'm lucky, I might just mine enough coins to get my money back in 6 months. The only way you'll get any profit is to then sell your bitcoin miner to another newbie! If I decide to keep my mining rig, it will slowly become less and less efficient - while still burning the same amount of electric - which is always getting more expensive.

Within 5 years, there will only be a very small handful of very rich people mining Bitcoin, and with it becomes the huge danger of miners taking the role of central bankers of bitcoin - exactly what bitcoin was set up to avoid!

The Nxtcoin alternative is that I take that $1000 and buy the coins.  Besides the price inflation, I will also get a percentage as I hold them.  I also gain the more people use the coins at the number of transaction fees increase.  The fact that some people have a million coins, and other have 1000 is just life. 
There is also no chance that if someone decides to buy most of the netcoins, that they get more influence - that can't happen by design!

So, unlike bitcoin, everyone gets a fair share of the transaction fees - surely, that is worth investing in the coin alone?

People keep saying that for months, but Nxt keeps going up...


p.s. and btw new features are coming very soon ;)

wrong. as a former peercoin supporter  I can tell you that PoW was not introduced cos it is fair to give the coins to asic miners ( i can think of a million fairer ways to give coins out lol) ....but cos it needed PoW to secure the network especially in its early stages. why do u think it has been all checkpointed? the PoS algo of PPC was not robust enough to last a week if it started out as 100% PoS. i still like peercoin but its asic mining is everything but an example of fairness in distribution. it excludes just about 7 billion ppl in this world lol.

Nxt has been the first 100% PoS . the first to prove that a cryptocurrency can support itself without any mining/hashing (and believe me it withstood some insane ddos attacks) . only for this it deserves respect....from a technology point of view Bcnext deserves the 21 btc he got for it. and you call that money grabbing? it's nothing compared to the money grabbing i see from some of other developers who just copy&paste bitcoin or all the miners who just watch machines burn electricity and then pump and dump on an exchange (and i did this for an year so I  have a  clue of what i'm talking about).  ProofOfinvesting is a more legitimate ProofOfwork imo. (as i consider good investors a more worthwhile category than miners). if the IPo is conducted transaparently I'm all in favour for it isneatd of PoW.

btw mining is not even decentralized in bitcoin (not yet anyway) or any other current PoW...so miners/ mining coporations have become your central issuers right there.
but that is ok with you to be "the closest to the money supply and who benefits the most."
i prefer to support the developers than the miners.that is for sure.  and it is even more fair imo.

and may I remind you that satoshi released bitcoin on an underground crypto mailing list and for months only 20 people mined it (including satoshi who mined a ton)....and only after an year he started adevertising it on gaming forums ......basically once he and his friends from the mailing list had mined enough to secure a big stake in their venture they unleashed it to the wolrd, again everything but "fair".

there is simply no fair way to distribute coins unless you make a global announcement and give equal mining equipment or equal stakes to everyone in the world on date of release.
probably only the NWO would be able to organize something like that....and good luck with their fairness lol.

i think the distribution of Nxt was more than fair...he distributed the coins to those who helped him make Nxt a reality (the investors who paid his bills ).
in his protocol miners would have been of no help...so why reward them? there's no point. why reward you? for what? entitlement? fairness?
satoshi needed miners to secure the network and conduct transactions, Bcnext didn't need them as with his algo the stakes themselfs act as "miners"..
..and bitcointalk miners went up in arms and started spamming the forums and calling it a scam. when the real big scam in crypto is infact mining.
 

I am a NxT holder and also have held a load of alts at one time or another.

The difference I find with NxT just when I start thinking it's maybe going nowhere, some very constructive, creative and well implemented new development comes along. And I'm talking about "real" stuff, like new clients with new features, new block explorers which demonstrate features of the NxT network I didn't even know existed, exchanges popping up out of nowhere dedicated to the coin etc.

All the other coins I held had none of this. You'd be lucky if you got 1 client with 1 bugfix a week and 1 developer working on the coin algorithm.

NxT on the other hand seems to have a good compliment of clever, dedicated and hard working developers across the feature set. Like for example Wesley's Mac client.. http://nxtra.org/mac/  It's not even an official client but it just blew me away cos I thought the support for my platform was crap and suddenly this appeared out of the blue.

The NxT protocol and network also seem incredibly promising. There is stuff I don't like - like the unweildy password system that is makes security very inconsistent - but hey there's things that gripe me about my own family ! :)

All those moaning about IPO and distribution - save your breaths. It's history. And anyway, you can still get hold of a good whack of NxT for only 1 Btc or less so the "scam" tag is just nonsense.

This is THE alternative coin at the moment. It's just so different from Bitcoin and in a good way for the most part. Regardless of what label gets stuck on it or what B.S. gets thrown at it from miners with their noses out of joint, this coin is going places if for no other reason than the fact that it seems to have an army of development personnel putting substantial effort into pushing the boundaries of cryptocurrency technology forward. It also has a very constructive, informed and cordial investor community if the forums are anything to go by.

Keep pumping guys!

Keep shouting scam for every asset you do not own!
How about an argument?

Very well.

This is the Nxt account ID that I just set up: 2176640326316778890

It is for a cousin I have in Angola, who does not speak English and only recently has Internet there. He was here during Christmas and I made him become interested in Bitcoin and other crypto-currencies. Since he can't mine, I'd like him to participate in the initial IPO that was announced here on Bitcointalk.

I'll send him 5 NXT when I go home, in eight hours (not now because I'm at work with a strong firewall). I'm not a big shareholder so 5 NXT is a significant donation for me. But please tell me if it's not really for your cousin in Angola, I don't want to send my money to somebody who is already rich.

You misunderstand.

The man may be uneducated but is not poor, so fortunately he does not really need a donation, neither I'm here asking for money. What I'm saying is that the initial IPO announced in English in this forum was out of his reach. He had the right to be part of it. I guess Nxt would have been ideal for his situation and the enthusiasm I managed to induce him.

That's only an example of what is wrong with Nxt. A technically innovative alt like Nxt deserved to be better thought out, instead of being bootstraped as an obscure, to say the least, IPO.

That said, I'm an imbecile for wasting my time dissing a coin. I couldn't care less. Good luck with your pump.

Oh I see. OK that's a point (finally!). But you can't expect any coin to be distributed to the 7 billion humans. Any coin will start with a handful of people even if you make an announcement for one year on many websites in 10 languages. The handful may be 2 or 5 (like BTC), 70 (like NXT), 1000 (if you're very lucky), but in any case a negligible number compared to 7 billion. Just like BTC there will always be people whining that they were not invited to the very first party, and people like me who welcome the opportunity to join the 12th party. My point is that we still are at the birth of the coin, so your cousin still has enough time to learn english and get on board. BTW I'm not native English either.

Nobody had a "right" to be part of the NxT IPO.

The coin was the developer's initiative, not the community's. So therefore they don't have a "right" to anything. The developer made an investment opportunity available to enable him to carry out the necessary work to get the coin off the ground,

Most people didn't avail themselves of that opportunity. Even, of the people who SAW the IPO announcement didn't invest because they didn't want the risk. Despite that, his initiative worked. He got some working capital raised, got the coin developed and launched and since then things have moved forward promisingly with most stated objectives being reached in a reasonable amount of time.

Also, despite that, there is STILL plenty of time for people to invest. The coin's still in beta and the price is low. You can pick up around 12500 NxT for only 1 BTC. So stop bleating people and get in now if you're interested in this technology. In a year this period will look like the IPO looks to us now.

ipo was ran like a scam -> scam coin

always the same arguments :D just be happy about new technology and how it could help us all in our daily lives.
damn some people made a lot of money. yes. but walltstreet people make also a lot of money. do you hate them all because they make more money than you? its not their vault if you make less. its your fault! be happy for everybody lives free and make the best out of NXT 8)

Ah ! I the wailing of sour grapes and the clatter of toys being thrown out of the pram. It's catching on  ;)

Be advised that nobody was scammed out of anything. Nobody was denied anything they were owed, markets have not been "manipulated" and nobody's been sold anything that did not fit the description on the tin, nor does it seem likely that they will be in the future with this coin.

In fact, if anything, those that bought in early have had a great deal. Those that buy in now are also getting a great deal - just not as good a deal as those that took big risks at the start by buying into something they had never seen.

If the prospect of a big holder "dumping" on the market later on has your knees knocking and your teeth chattering so hard that you need to wear a garlic necklace just to trade, then off you go and find a stock that doesn't run that risk. (When you've found it, make sure come back and tell us first).

It doesn't bother me. What you need to be scared of is not big holders but duff technology. If the technology is good and has a future then big holders are just doing people a favour by dumping. There will be a dip in the price and it will then float back to normal.

In case you hadn't noticed, it's not exactly a rare occurrence in the world of cryptocurrencies.

Nxt is promising but what's to stop others from making a 100% PoS coin with more people in the IPO? That's my problem with Nxt, is that there are bound to be other clones in the future except with a more distributed IPO, people would look at these coins as fairer and flock to them.

Thank you for your competent opinion :)
Average Joe thinks "BTC ran like a Ponzi scheme -> Ponzi coin!"
You think bitcoinmagazine writes about a scam coin just like that :D? --> http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/

Okay: something I don't get, as a mathematician / math teacher.

Why are people insisting that only the rich get richer?  As far as I can see, if you have 10'000 NXT you will profit the same percentage as someone with 10'000'000 Nxt.  If the 10'000'000 NXT account makes around 200'000NXT in a certain time period, the 10'000 NXT account will make 200NXT in the same time period.

The only thing that you need to factor for is the 10'000 NXT account will have MUCH higher variance.

This is the exact same thing as POW mined coins, if you spend enough for 500MH/s mining sha256 you'll get a decent flow, but with MUCH higher variance than someone (like myself) who spent WAY more and have 500GH/s mining sha256.

I think that NXT has a future not so much as a cryptocurrency or altcoin as it has a future as a *currency*.  It may take a while to get started, but looking into it, I think it will be much more stable in the long term, specifically BECAUSE it is not dependant on mining power.

Green is not the only thing that makes this coin worth at least a good look.  Regardless of the IPO, and the fact that it may not have been well publicized and managed enough by some token, the NXT project itself looks a lot more sustainable in a long term because there is no "arms race" to mine it.  I also like the fact that enough was invested in it before it began that it started with a value worth more than a few satoshis.

I see NXT as a vehicle for successful investment in the coming months, but I see it as a currency proper in the coming decade.  I can't say I feel the same way about any PoW coin.  Too many people are looking at NXT in the same way they look at other alts, a short term way to make a quick btc.  I hope that at least a few people read this and realize crypto isn't meant to be just for quick money.  Mining is NOT the end all be all of crypto.

Disclaimer: I have invested more than five times the amount I have in NXT in mining hardware, I am not against mining, and I did not get into NXT until about Jan 10, after some source was released.

vannicke +1
very good post

There is a lot wrong with this statement, firstly why shouldnt developers make the most money from it? Plus the opportunity to buy NXT and get a stake was open to all on this forum. Also the price was still pretty low after the stakes were distributed so again people had a chance to buy in.


BUT I'm going to put all that aside and say instead of linking this with corrupt banking system that handles the sweat and tears of money made by real labour and suggest to you the actual situation you are in is this. You have an open opportunity to buy in at still a very low level so here's the truth, no BS.....The developers and early stake holders may get STUPIDLY rich but sadly you can only get VERY rich. Poor you...fucked again.

There is nothing "unfair" about NxT. It's distribution was fair, it just wasn't widespread. There's a very big difference.

When you look at it that way, no cryptocurrency's distribution is widespread because the cryptocurrency market in general is tiny. 99.99999% of the world's population has no idea all these coin launches are going on and won't get in on it for months or years, by which time they'll be able to afford only a very tiny amount of whatever coin still prevails.

The fact that a clone appears who's initial distribution is more widespread than NxT's isn't going to make a blind bit of difference because by that time NxT will have a far wider distribution than said clone coin and also a far more established network, technology developer community and investor community. That's not to say it's ultimate success is guaranteed - nothing is guaranteed - but as I said in a previous remark, the initial launch is history and will have progressively less to say about the technology's future.

Although this observation is a bit OT, there seems to be a vast difference in literacy, temperament (with a couple of unfortunate exceptions) and the understanding of really quite simple concepts depending on which side of the NXT fence people are situated.

(In case anyone is unsure, the above was meant as a pro NXT comment)

Yes, I still like it, and I've been plenty fucked by banks, and I'm a teacher, so god knows I'll never be rich on my salary.

The point of cryptocurrencies is not supposed to be making money from nothing (or electricity), but it has that as a side effect.  If the reason that you are into crypto is to make the most Dollar/Pound/Euro/Yuan you can with your rack of 7970s, then you are (in my opinion) only securing the network for now, but not supporting a future where cryptocurrencies can continue to thrive.

I want to support that future, I like the idea of instantly paying a service in Indonesia from Canada, or sending some money to a friend across the country instantly, of being able to access my store of value anywhere, and actually owning the value of my money rather than having a piece of paper that says I am owed that value, while also never increasing the supply of the value and therefore diluting it.  BTC, PPC and NXT communities have some focus on this, and maybe a good number in the LTC community as well, but almost every other altcoin is either a clone for devs to make a quick buck just to let flop, or a coin for early miners to make loads of then dump and fade into disuse.

Let me voice an opinion: mining in BTC was realized to be an arms race that would detriment the coin by tying it to an industry of gross inflation, and so LTC came along to alleviate this by offering a different method of mining where preferential access to superior equipment did not mean access to higher profit.  PPC came along to further that by creating a system that rewarded those who actually invest and use the coin more than miners, who constantly dump newly minted coin, so that the coin could have a more sustainable future with a community of people who want a future with crypto in the long run.  NXT is continuing to evolve the idea of a coin with longevity, stability and versatility by rewarding you specifically for investing in NXT itself.

Those who complain that this is making the rich richer need to realize that it is making the poor richer at the same rate.  Certainly, if you invest more money, than you get more money, but EVERY other investment in crypto works exactly the same way.  If you buy ten 7970's and mine LTC you will make more than the guy who bought only 1 7970.  If you buy a Terraminer, you are going to make more than the guy who got a Jalapeno.  If anything the only reason that some are making more than others in any coin is because you got there later than they did, and certainly early adopters of NXT will too.  But what makes NXT different is you only need to invest in it ONCE.  Buy some of it.  I can't see why miners aren't flocking to PoS coins because of this, your miner will last maybe six months or a year before it becomes obsolete, and you can't use your Dogecoin as a store of value, but five years from now, your NXT will continue to give you more as more people adopt it instead of LESS when more people adopt it.

tl;dr: PoS altcoins are an efficacy to an unhealthy system. NXT will grow with the crypto economy as more people use it, an investment mining coins is profitable for a very short term but depreciates as more use it long term.

Damn, had I noticed this sooner, I might have realized the ... ahem ... novel I just posted is probably not going to reach its target audience.  Oh well, hopefully I at least made thought-provoking observations.

There are a load of communists on this site - wanting everyone to have an equal share regardless of effort.

That experiment failed after 70 years, the only way to make society richer is through individuals taking a risk with opportunities that might or might not work.

I didn't get any free NXT either, but rather than moan about it, I bought some.  Maybe the ones moaning should do the same?

Nxt has dozens of arguments against it, has been launched in the worst way possible, and if the development team now disappears you would have something without development that is worth nothing. Closed source, unfair lauch, very uncomfortable java software. questionable security (until they release the entire source code), No, the right thing is NOT buy nxt, no matter how much worth, and a serious exchage should not admit it.

Looks like those remarks are being made through gritted teeth given that you're following this topic with something to say  ;)

You're entitled to your opinion but be advised that you definition of "unfair" amounts to nothing more than griping that you didn't get in early enough. Even if you had youd've probably past up the chance of investing in the IPO as being a "scam" given that it was vapourware at that time. And that last point is where the biggest hypocrisy lies in most of the "scamcoin" claims.

A suggestion: get in now, then you'll save yourself from continuously having to come up with justifications why you didn't (like the ones above). We all know what we're getting into and the issues you cite are well established.

It's just that they're dwarfed by the potential upsides.

NXT is not being hated due to unfair distribution but because it absolutelly skipped any long-term investment return phase.

IPO = few "investors" got almost all NXTs. It would be OK if their NXT starting price was equal to their deposits - e. g. someone who invested 1 BTC would be able to sell them for e. g. 2 BTC or wait 2 years and take a big risk of no success of NXT or big success and big revenue. However they didnt take any risk and ....

...then was no phase of slowly growth and redistribution, the trust of holders just skipped any fair price distribution and started selling only for oppresive price which should be valid after 2 years since beginnings, but not in alpha-testing phase. Its like bitcoin never costed 0.1 USD, never costed 1USD and started with 100USD price.

Bitcoin was 'uncomfortable' to use in its early days too, no GUI just command line. There's nothing wrong with Java either, just armchair programmers talk it down because of its stigma with exploits on the web. If Java isn't your thing you can always disable it your browser, as I do. NXT only uses it for the daemon itself.

Many here consider crypto easy money, and NXT isn't really intended to be easy money.  While it has proven a good investment for many who got in at the start, I want to see this crypto as a good store of value, and that is something it has that others don't.  How could NXT be more fair than offering everyone profit exactly proportional to what you invest?  If I buy 50'000 and you buy 50, it would be unfair to give you just as much as me for having an account.  If forging is where some people have a hangup about NXT, I suggest reading into it further, because it appears (to me at least) to be much more efficient and fair, and even a bit socialistic in the ideal sense (I use this term hoping people understand socialistic is not communistic).  Whatever effort or investment you put forward yields the same as everyone else.  If the IPO is where people have a hangup about NXT, I ask: why shouldn't the earlybird get the worm?  As far as I can tell there is no room for anyone to complain, because getting in now is still early.  Sure, you won't profit like an IPO investor, but NXT has a lot to it that hasn't even started yet, and will attract more users, and more users, unlike any other coin, makes mining more profitable.  If people realize this, more will use it, so it will increase in value at the same time, which means it will increase in both value and profitability with more adoption.  I think this coin will be more stable and long lasting because of this self reinforcement.


Yes, there is risk.  Yes, the dev is very protective of the source (I also dislike this), but it takes little research to see that the amount of time and work needed to start this coin would be worth protecting it for a while.  In BCNext's position, I'd probably do the same.

Ok, this charade got me genuinely intrigued and so did the dotNXT wallet software.

So tell me. Besides your own self-interest of holding Nxt and wanting to pump it, please explain me how is Nxt better than a hybrid PoW/PoS coin without IPO, when mining ends. Is anyone really pro-Nxt without having some and making a speculative bet it will hold?

Then I don't get what kind of people are against Bitcoin and annoyed than Nxt is not valued at bitcointalk !? Besides you're against other alts, against mining (I get the nice PoS but otoh even teens with a decent gaming PC can mine), you're against anyone that mentions the obscure IPO. Now I've read Nxt is closed source and with bad official Java software.

Let's see if you manage to address the points without ad hominems and deflections.

I'm not saying Nxt is fair or unfair. Nothing's fair, ever ;) I just disagree with you that Nxt will be the primary 100% PoS coin, the fact is people do get jealous of those first 71 investors and I believe coins like NEM will soon popup and steal the market due to their wider initial distribution. Provided that there are competent people behind these "clones" of Nxt, which theoretically are the same in everything except for more distributed IPO, I just can't see the existing infrastructure of Nxt being a good enough reason for a new investor to choose it if he wanted to get a 100% PoS coin. It's early even for Bitcoin, to say the infrastructure of an alt counts for anything at this point is foolish... But hey that is just my opinion ;)

Another comment, Bitcoin had a couple year's start ahead of Litecoin so the infrastructure argument is more relevant there.... However Nxt only has a couple months' start on coins like NEM and other soon-to-be-made 100% PoS coins. I just don't think that couple months is enough time to cement Nxt as the leading 100% PoS coin. In fact I believe these 100% PoS coins will continue to be made and remade until one day in the far future when everyone in the entire world will have the opportunity to get into the IPO of a coin. That's why I will never hold more than a little of any PoS coin, because PoS was conceived as an "end-state" adoption... it simply doesn't work as well in beginning stages of adoption.

Its ironic that the biggest support POW coins get is the 'fairness' of mining when actually it is with the current situation where some can afford and understand the technicalities to acquire massively unequal amounts of coins the most loop sided unequal distribution for any newbie to the Cryptocurrency world. Mined coins almost instantly get put on exchanges and a pump starts so large holders can cash out at the inevitable peak.

 In contrast POS is ironically if done properly potentially more fair than POW ie 1$ = an equal % of a new coin. So therefore mining neither serves the purpose of even distribution and at the same time consumes massive amounts of energy in the process....How do you like those apples?

You can have alt coins with mining on top of Nxt. Actually, very soon you will see one that is quite impressive.

IPO ran for a long time and everyone who wanted to buy did it and got his coins, there were no restrictions and it was quite cheap. Besides, distribution doesn't matter because everyone's ROI is the same, no matter how much he has. And Nxt is protected versus a 90+% attack so distribution is irrelevant.

You can test the decentralised asset exchange in a testnet and soon you will be able to  trade on it.

No other coin can handle as much transations per second as Nxt.

If this is not enough for you, you are just a troll, sorry

PoS is not the matter, the matter is precisely the closed-source IPO'ed Nxt. And btw, how do I know it doesnt include malware??

I'm aware of the advantages of PoS, they were discussed a few times, there are other coins with PoS, that isn't even a Nxt innovation.

Then I get the power usage. Good point. I hope you Nxt holders drive hybrid cars and stay away from SUVs too.

Address all the points I made in this thread. Then it will be enough.

I gave the example of someone I made an enthusiast of crypto and didn't have access to the IPO, and after you say it was fair and known by everyone. Do you really want me to take you seriously?

Source of 0.4.7 was officially made public last month. Still since it's a Java app, you can decompile the latest version with a few clicks and get all the readable code. The devs do not obfuscate the code, unlike some other competitors (eMunie). Anyway, do you think exchanges like Bter and Vircurex would add it if the client actually had malware... c'mon now.

Anyways, if everything felt right about NXT, price would already be sky high. So the time to get in is now when there's still people dismissing it on silly things like the app being Java based, uncomfortable GUI etc.

You say that it is unfair because somebody who didn't heard of it  didn't have the chance to participate :D(when it was public and ANYONE could join?!!?) Maybe @BCnext should have gone to the North pole to ask people if they want to join Nxt :D:D:D

Try harder and think of something that makes sense, like ... hm dunno :D At least try a lie or some other black PR trick.

So is the only argument for Nxt being successful vs. other 100% PoS coins with a more distributed IPO, simply that because of its head start on infrastructure? I would really only buy more Nxt if someone can convince me that Nxt will always be the leading PoS coin...

Don't read trolls, read this --> http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/ and then try the decentralised asset exchange in the testnet (it will be realeased soon anyways) and then decide or red more ;)

The shills are pumping in full force tonight  ;D I see they need Cryptsy to dump their shitcoin in volume.

You're the one bumping that Cryptsy topic. Noone else cares. Go check out the main NXT thread, 99% of the discussion isn't on price/exchanges like almost every other crapcoin on here, but actual development.

Cryptsy already expressed interest in adding it anyway, it's getting on there but will take more time since the API is completely different.

Keep on trolling.

There's a lot of discussion on this thread about nxt arguing both for and against it but yet no one is really explaining its technical merits about what makes it so special and innovative.

Now from reading around, it sounds to me that "transparent forging" algorithm is what makes Nxt different from the other PoS offerings out there. My question is, how exactly does this algorithm work? I can't find any resource or reference out there that describes it in a transparent understandable way.

Has the Java source been code reviewed and vetted by the community? Any threads, either in this forum or elsewhere, that has done some critical intense scrutiny of the code? If so where?

That is exactly what this coin needs since the only complaint is that it is not fairly distributed. People need to dump it so other can join in for cheaper and redistribute the wealth. If you think it's too expensive don't buy it, the price will adjust to a fairer value and the coin will become more distributed as people 'dump this shitcoin' as you say.

I recommend reading this thread for more details on transparent forging: https://bitcointalk.org/index.php?topic=364218.0

Code flaw discussion can be found here: https://bitcointalk.org/index.php?topic=397183.0

Nxt IPO was 61 days long

Anyone could send 1-1000$ during that time. 10.000 could send 1$, for example.

Who sent 1000$, had to wait up to 70 days to get his coins. His 1000$ were stucked in 61 days long IPO from more than 2 months. In a project where he had no proof of success.

I doubt you'll find much love for NXT here.

The real scammers are the people mining coins. Bitcoin creates a $Billion a year in new coins that go to
Miners with the most expensive rigs instead of back to the users.

Miners sucking all that money out of the economy and all you get is centralised mining pools controlled by the city of London at the end of it.

Nxt pays fees back to the users, and the fees are small, you'll probably only earn like 0.05% a year on your NXT so the people with lots of NXT would make boatloads more in a bank account than fees they earn from NXT.

As for IPO? How well was Bitcoin distributed in the beginning? For the first two years Satoshi controlled obscene % of Bitcoin.

+-70 founders is more than most new companies I can think off.

And at least now there's NO inflation, unlike the 10% in Bitcoin that goes to multi-millionaire miners, almost worse than fiat.

Plus NXT does everything better and faster than Bitcoin.

+1

Right. I bought only at dgex but iI think that I have not been betrayed by this hard working Group of developers.



 

The advantages in NXT that I see:

1: Potential for extremely high transaction volumes
2: Forging secures the network at a fee rate that gives no real or practical advantage to hording by forgers (as far as monetary increase in NXT).  By this I mean spending nxt will likely cost as many fees as I make in return, thus fees secure the network but end up back in my pocket as I secure it too.
3: No inflation, or devaluation, artificial or otherwise, at all, due to the 100% PoS nature.
4: Distribution BETTER in one month than bitcoin in four years.  (Please look at facts before you try to argue against this)
5: It's green. (Personally, this translates as portable, versatile, sustainable, and scaleable to me.  Environmentally, I don't care too deeply one way or another.)

The possible cons that people are arguing, and the reasons why I find them invalid or not enough to match up to the pros:

1: Closed-source: officially the source is not released, but decompiling classfiles in java is as easy as pointing and clicking a couple times.  The devs even made it decompile legibly.  But yes officially it is closed source so far.
2: Small time forgers get shafted by probabilities: mathematically the variance of 1,000 1,000NXT account versus a 1,000,000 NXT account is comparable to a 1TH miner vs 1000 1GH miner, so yes as time goes to infinity, the 1,000NXT account will do better, but the difference in each 1,000NXT account is still largely luck, and the end state probabilities are still only off by less than 1%, which is comparable to BTC variance over a year in practice. (I am asserting this number based off my own calculations and observations of others calculations.  Correct me if I am wrong.)
3: The developers can't code java: If you are basing this off the modified 0.4.7e code from the flaw finding thread, yes it is a bit crazy to wade through, but that file was made a bit obscure from the getgo for a good reason, more recent code has been refactored and takes in a great deal of effort found in the flaw finding thread.  But alas, that code was quite the long read.
4: How do we know NXT will be the biggest POS-coin out there?  Sure, we don't know this, but BTC is still the most widely used and valued, and it came first.  LTC is the highest after that, and it was the first to innovate a different way to mine that was (more) arms race proof, and PPC has a pretty sturdy value as the first partly PoS coin.
5: the devs could be stealing all your money, installing malware, etc, so, it's a scam: Again, there are a number of competent developers in the community perusing the decompiled code, and there is nothing that even remotely looks fishy pointed out yet, after thousands of man hours of code perusal, the likelyhood of this is shrinking infintesimally by the day.

Sure I'm not covering all bases here, but these five seem to come up a lot, and it annoys me that people aren't doing any research to support the claims.

I'm willing to bet that NXT will remain top in value and usage among 100% PoS coins because it was first to largely redo the structure of PoS in a 100% PoS coin.  Is it a gamble?  Yes.  But what cryptocoin isn't?  Will NXT be the perfect coin to end all coins?  No.  Something new and innovative may follow it, but I foresee it gaining much more traction in the coming months, and cementing it's position as the next cryptocoin milestone.  I don't believe any clone of NXT could do much better than NXT has, but if you think so, point it out, and maybe the devs will even include it themselves.  It is still evolving daily, and has a lot of potential.

tl;dr: Innovative things typically succeed over their clones, and NXT innovated.  There are pros and cons, most cons posted around here don't seem well thought through.

Next coin is a pre-mined scam. Don't need to know anything else.

When is the source getting released?

I looked through your last 50 posts cause I just couldn't understand the thinking of somone who has made as many posts as you have such an ignorant viewpoint.


I noticed your a big believer in Dogecoin. I was going to ask you to justify your views on NXT......now I won't bother.   ;D

This only proves that you don't understand proof of stake.  Yes, all coins already exist, it's different for a reason.  Nxt is intended to NOT be a mined coin.  Does no one here actually care about making cryptos that serve the intended purpose of long-lasting decentralized currency?  Is everyone here just trying to eek a buck out of a Radeon?

Oh, God.  I think they are.  When did this community stray so far from the path?  Or am I the one that has fallen from the path?