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Patel is selling at .006 BTC. There is a risk - wait and you may get a better deal, or this may be as low as it gets. NXT started out selling at 1 million per BTC a week after the presale ended with an average price of 47 million per BTC before pre-sale, a 4700% increase. It briefly went down to .5 BTC per million, then steadily increased from there with a few corrections but never back close to the million per BTC range.
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Mastercoin went up to 3X pre-sale price in BTC first week after end of sale, settled down to 2X, then worked its way up to a peak of 25X over the next 6 weeks.
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archived The main issue I see is distributing the coins to enough people.
Agree. Without at least 100 users on start the whole currency is pointless. I would spend collected bitcoins for advertising instead of development of advanced features. I agree with this 100%. Once the word gets out you run the risk of a few big players sending you large amounts of btc (100+, or even higher). The bonus idea is a good one. With MasterCoin, right at the end in the last few days some big amounts were sent in - 400 btc etc. That could potentially kill this coin. Maybe you could add a maximum amount people can send you too. Just an idea, to help spread the NXT around more evenly. I'd say a 100 users is the bare minimum to start. 250 users each having btc amounts under 1btc, with an average of about 0.25btc each, would give you a good chance of success. If someone dumped 100 btc on you, NXT would be stillborn. What is the difference between a user sending in 1 transaction of 100 BTC compared to the same user sending in 100 transactions of 1 BTC each? The main difference would be the amount of time and hassle required to repeat the procedure 100 times. If the send could somehow be connected to a user profile on this forum, that would limit the number of multiples quite a bit too. Maybe the dev has another idea. I just think with a POS coin it's best to spread the coins around at the start, and with Mastercoin some big whales joined the party right at the end. Some way to limit excessively large single holdings is a good goal. Once the close time approaches some people might get greedy. I agree with this. There should be a cap for investment, and yes sending 1 BTC 100times is less probable than sending 100 BTC at once. I guess 1 BTC is a good cap. This POS coin will certainly die if we do not approach a more normalized way of distributing the genesis block coins.. |
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@come-from-beyond and smaragda:
I think we need to close this and move forward. I doubt that there was any personal reason towards me (I didn't have much history here at the time) - just the motivation by BCNext to avoid further dilution of existing investment. His share was to be his reward for development. The BTC raised was chump change. Early on in the original NXT discussion, there was a concern with people jumping in at the last minute with huge amounts like with Mastercoin and even recently with the XCP burn. I had 5 BTC earmarked for NXT, but assumed it would be at 100-200 by the time I entered. I didn't know about the 1 BTC cap or 300% to 100% decreasing bonus since the announcing post wasn't updated - this was all buried in 20 pages of discussion. A lot of this is just the result of very poor communication with an announcement which was not kept up to date with changes and not at all clear on deadlines.
Philosophically, the NXT community seems very much in alignment with myself, it is unfortunate about this issue. You can probably understand that this event cost me 2-3 million USD at current NXT value in that I had already decided to invest, and would have flipped a Bitcoin into it on the spot had I known I needed to do it then, and someone else's was allowed in after I asked about it while I was denied. I've reviewed the post times and transaction times on November 17-18, all in Greenwich Time, to verify that everything I've said is true.
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Ethereum does not need traditional VCs and yet there are plenty of community angel investors who are very interested. I have no problem believing that Ethereum will be very well funded by those with plenty of capital. In concert with the amount of funds raised, there will be high expectations from small and large investors alike. The Ethereum founders will be held to high standards - as it should be.
+1 This is why I'm here. These pre-sales are ground floor opportunities to participate in seed rounds in small tranche sizes affordable to anyone. This has been denied to retail investors for a very long time. This is a threat to some gatekeepers and their cronies who are used to making a lot of money from the current system, which may be a motivation for the recent flurry of attacks against IPO type pre-sales. These attacks seem to be coming from experienced disinformation operatives skilled in their craft - not your typical trolls |
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And then there's Invictus, the knight in shining armor!
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Burn IPO is over The following features are implemented and (mostly) working: Send: XCP or user-created assets User-Created Assets: Issue user‐defined currencies/assets and pay dividends on them. Distributed Exchange: Trade XCP, BTC or any asset with any other. Feeds: Broadcast information, which may be used as the subject of a bet. Betting, Financial Derivatives: Make bets, or construct contracts for difference, on the numerical value of a feed. https://bitcointalk.org/index.php?topic=395761.0come join the fun try it out and bet on the Super Ball - it's a great learning experience until the MSC Distributed Exchange comes out. I'm pretty excited on this one as well, great addition to the next gen family. |
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This thread is so long, all posts get buried within 24h. I've compiled a list of FAQ from our forum below which should answer most questions.
We're going to organize a Q&A thread on BitcoinTalk,
Please, don't forget to self moderate this time. |
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You sir, are a genius  ! Love it! This ad campaign was one of the coolest to begin with. |
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Genesis block was still being made day after I asked when deadline was and pre-sale was abruptly closed without advance notice while I was waiting for answer on deadline while BTC sent while I was waiting was included. All someone had to say was "We are closing the pre-sale now. If you want to invest you need to do so now."
See... now we're getting closer... if I understood you well... you never received an answer and didn't get to send the BTC + Hash because the Genesis Block was/was being generated. That is what I have been trying to tell you all this time. As far as the "We are closing the pre-sale now. If you want to invest you need to do so now." goes... I agree. It might have been better if it had taken place... but people need to know when hearing your experience that the offer was already running 6 weeks. Everybody is under the wrongful impression that BCNext cut the offer short really fast... but clearly it is not the case. Honestly... does the fact that BCNext didn't give a 'Heads Up' after the offer being open and public for 6 weeks make Nxt anything less than what it truly is? I mean the guy had set a cap of 250 people and 6 week later there were only 70 plus some change... and you are the only one that I am aware of, so far, that missed it marginally. I think it is time for this myth to DIE. Yup. How many times are we going to hear this bs from you Td services? Quit whining and accept the fact that you suffered from paralysis by analysis and screwed yourself. Should have got your ass off the fence and made a move instead oh ho-humming about it. You're going to hear it every time the claim is made that everyone who wanted to was allowed to invest in NXT because that statement is not true. There also was no mention of any cap of 250 in the original announcement, just a date, 1/3/2014. I had already decided to invest in NXT, just waiting for other markets to move in my favor for better exchange rate, thinking I had until January 3rd. The time from when I asked about deadline to being informed it was closed without notice was only a few hours. Another coin was accepted and included in the genesis block. Sorry, but I see this as a deliberate lockout to prevent further dilution of existing investment. Pre-sales need to be very clear in their terms, cap limits, and schedules, and give plenty of advance notice of any changes. Ethereum strikes me as being very diligent in this regard. |
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archived: I’d like to announce Nxt (pronounced as "next"), a cryptocurrency based on Bitcoin paradigm. Nxt uses brand new software, it’s not a fork of Bitcoin source code. Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue. I won’t write too many words, let’s jump straight to TL;DR version. Coins are earned solely by charging transaction fees. All coins will appear in Nxt via “transferring” them from the Bitcoin blockchain. Not all bitcoins will be transferred hence the total number of coins is unknown yet. Time between blocks is one minute. This increases the rate of orphaned blocks but makes it more convenient for the users. Nxt doesn’t use so-called “scripts” aka predicates. This simplifies and accelerates transaction processing. Advanced features like multisig will be created on top of the core as 3rd party services. Mining is 100% proof-of-stake, Greenpeace will be happy. At the present moment development of the software is not completed. While I’m working on it we should start the transfer process to decide who and how much coins will get. This will be done by sending a small amount of BTC to my own address. I bet most of you have just thought “I got the catch!” Hold on, I don’t ask you to send thousand USD worth coins, a few satoshis is enough. A special message must be attached to the transaction. This should be done via blockchain.info which supports such the feature. The message must contain only SHA256 hash, that will be used to claim coins. All these coins will be put into the genesis block that I’ll publish before the launch. Anyone will be able to make sure that the 0th block contains only legit coins and there is no premine. So, if you want to get coins do the following: 1. Choose a secret phrase 2. Calculate SHA256 hash of this phrase (an online calculator can be used) 3. Calculate SHA256 hash of the hash you got on the previous step 4. Send any amount to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a, don’t forget to attach a message with the hash you got on the 3rd step. (The amount is capped at 1 BTC!)That’s it. When Nxt is launched you will get part of new coins and your stake will be proportional to the amount you sent. I work hard to launch Nxt as soon as possible. I will complete all necessary things, but some extra work should be done. I’m thinking about developing a web interface and some other cool things. Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9. P.S. I’m a veteran member of this forum. I have to use this brand new account to remain anonymous but later I may reveal my identity. P.P.S. You can not transfer BTC to NXT after the genesis block is generated and approved by the community.
I got some offers, on the launch or shortly after it we will have the following services: 1] Faucet. It will be funded by our donations 2] Currency exchange. Classical BTC-to-NXT-n-back exchange 3] Stock exchange. If I got it correctly this is going to be a simplified (for non-pro traders) version of a stock exchange, can be used for crowdfunding 4] Virtual goods store. The goods will be provided by ordinary users (books, links, game codes, anything represented as plain text)
The interface is still in development but can be tested on http://88.198.210.245:7875
Follow me on Twitter @BCNext. All important information will be tweeted.Twitter suspended my account. |
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In the Jason Bourne novels by American author Robert Ludlum the department within the CIA which made Bourne and the other super agents is called Treadstone Seventy-One. The fact that the original Nxt contributors are 71 in number must mean the CIA is behind Nxt! It's a cryptic message... I can't believe no one has figured this out yet!
See, if I had been allowed to invest when I was locked out, NXT would have had 72 investors, making it holy. By "not allowed to invest when I was locked out"... do you mean that even though you had completed your payment and had sent the Hash of the transaction before the Genesis Block was generated you were not allowed to invest and were locked out... OR are you just trying to get everybody to believe you got cheated somehow simply because you did not make it in time?  Come on now... we have been over this plenty... you must have figured it out by now!?!  Genesis block was still being made day after I asked when deadline was and pre-sale was abruptly closed without advance notice while I was waiting for answer on deadline while BTC sent while I was waiting was included. All someone had to say was "We are closing the pre-sale now. If you want to invest you need to do so now." |
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Be cautious on anything OP says. He was already outted on another thread for trying to blackmail somebody and when he was outted he didnt have anything to say to the guy who outted him cept some bs posturing about him violating the sites TOS for supplying proof of the blackmail. He has shown the characteristics of an attention seeking scammer, and not a very intelligent one.
I got the same crap from him....."send me 10BTC or I expose your lies"...go ahead. I countered all of them with a thing called evidence in my rebuttal. Taking off my professional coat for a second, the guy is a complete low life scum bag that deserves whatever brute force comes his way, should he (and we) ever be fortunate enough that he meets someone hes attempted to blackmail. </procoatoff> Aside from that, this thread will be history pretty soon anyway, so enjoy the drama while it lasts. LeoC appears to be scammer or in collusion with Level Coin, proven by identical funding addresses between extortion attempt by LeoC against Ethereum posted by Charles H and original funding address used by Level Coin in Level Coin announcement. I had a detailed history, lost while composing, here's link to Level Coin: https://bitcointalk.org/index.php?topic=422309.400LeoC says I'm too jumpy and should go smoke a bowl and relax. |
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quoting text to archive: Hello Bitcointalk!
My name is David Elsinger and today I would like to present a new Proof of Stake/Proof of Burn cryptocurrency that is currently in development named Levelcoin. Why Levelcoin? The reason is because the coin is divided into two levels. Let me explain.
Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate four additional LV1 coin per week for every 1,000 LV1 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 LV1 coins, you will receive roughly 200 LV1 coins, or 20% per annum. Doesn't seem like much? Keep reading.
Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate twenty LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 1,000 LV1 coins. This equates to achieving a 100% ROI within a year. Much better isn't it?
All coins have diminishing returns.This is to punish hoarding. After the ROI is met, coins will generate 1% less Level 1 coins per month. This is multiplicative and not additive, so reaching a point where a coin stops generating is unlikely anytime in the near future. This is a good thing and will keep both the exchanges and the amount being burned higher than it would be without diminishing returns.
This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:
Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.
Nothing like this has been tried before and should the system work as planned, any founder will see an enormous return on investment. There is very little incentive for users to "pump and dump" or to flip in and out. This coin caters more towards loyalists, and considering that there will not be botnets nor ASCI's to deal with, everyone will have an equal opportunity to take part. The system is built around simplicity. Have you noticed how all new self proclaimed "next generation" currencies are getting more and more complex, both in their algorithm and distribution methods? There is no need for that, and Levelcoin aims to prove that. Google had the right idea by creating a simple search engine, and look where that got them!
Those who have faith in the currency and are in it for the long haul will reap enormous benefits from burning their LV1 coins to obtain LV2 coins and then selling the LV1 coins obtained via interest on an exchange that will likely be proprietary. Or they could choose to burn those new coins and compound their interest while at the same time creating scarcity for LV1 coins. The choice is yours. There will always be demand due to the fact that LV2 coins can not be obtained in any way other than by the purchase and burning of LV1 coins.
As a disclaimer, I will not be holding any of this currency so there will be absolutely zero dilution. My funding will be entirely based on pre launch fundraiser. Currently I am in the coding phase, there are still some kinks to work out and I have to apply every scenario possible to ensure that this system is not exploited in any way, though from what I have tested thus far it seems highly unlikely.
The success of this coin lies entirely on its initial demand, that's where I need your help. I had initially thought of using Kickstarter to fund this project but decided to go this route as it seems to be sufficient. I will be accepting BTC and LTC for the pre launch with a time frame of approximately half a month after which absolutely no additional coins will be distributed, though I reserve the right to cancel the pre-sale at any moment should I feel too many LV1 coins will be sent out.
If you are interested in purchasing LV1 coins at 100,000 LV1 coins per BTC or 2,850 LV1 coins per LTC, then please send the allotted amount to the below address and please PM me both your sending address and the TxID along with an e-mail address that I can use to contact you. All purchases will be kept 100% confidential.
Direct funding is currently set to end in TWO DAYS. Limited time offer to receive 1.5x the amount of coins!
Funding will also include access to the closed beta which will last two weeks.
Pre-Launch funding addresses:
BTC- 1Padc5wujXQamfR8r2Dig45BFh7SiT2AE4
LTC- LPn7WpdnZ3MSdDajbFMsJuVi44BeYEauKG
These funds will be used in a variety of ways. The most obvious would be to help fund development. As you can see, I do not have a coin logo, website or anything shiny and glittery to show for this. I am building the wallet from the ground up and have not used source code from any other cryptocurrency. I am a coder and that is all I know how to do. At this time I need a graphic designer, a web designer,a marketing manager and someone who specializes in creating graphs and charts to illustrate how the system works. These roles will be funded via the pre launch fundraiser.
Once I have an official web site and forum I will be accepting volunteers for administrative and moderator roles. These roles will be given first and foremost to the top investors should they accept. A small portion of the funding will be set aside to purchase LV1 coins at market price should the price fall to unreasonably low levels, consider this a sort of "buyback" protection against sharp declines. And lastly of course I will retain a couple of BTC/LTC for myself because I feel I deserve it. If you plan on using any of my ideas for your own project, please feel free to leave a donation!
Thank you for your time and consideration! Please show your support in the comments below.
David Elsinger, Levelcoin Dev
Current Founders
el****sy - 1 BTC
fr****e - 1 LTC
ri*** - 0.053 BTC
gk***y - 0.5 LTC
vh*********els - 1 BTC
l*** - 1 BTC
ka****13 - 0.02 BTC
da***t - 0.1 BTC
da*****ox - 0.1 BTC
ko****s - 0.1 BTC
m*****k - 1 LTC
be***r - 0.51 BTC
al****s - 5 LTC
je******4 - 0.4 BTC
ma*******9 - 5 LTC
t*****y - 0.02 BTC
l*****s - 0.005 BTC
b******r - 0.3305 BTC
ir*********c - 0.5 BTC
co****r - 0.3 BTC
s*****n - 0.219 BTC
i****v - 0.15 BTC, 10 LTC
b*****r - 0.3 BTC
t********w - 1 BTC
l******n - 6 LTC
a*******! - 0.2 BTC
s******y - 1 BTC
d******k - 1 BTC
ob******e - 1 BTC
se********m - 7.8 LTC
h******m - 0.1 BTC
r***n - 0.3 BTC
b********3 - 1 BTC
q****r - 1 BTC
a*****d - 0.7 BTC
u***4 - 10 LTC
p**********u - 1 BTC
d*** - 1 BTC
m******e - 1 BTC
t********s - 1 BTC
f******t - 30 LTC
m****w - 1 BTC
d*****w - 0.1 BTC
y******p - 1 BTC
g*******r - 1 BTC
p********r - 0.05 BTC
This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:
Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.
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This makes me to worry. Someone attacks all launched cryptos. We would better unite against common enemy, instead of insulting each other...
+1 I'm seeing this pattern as well. |
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In the Jason Bourne novels by American author Robert Ludlum the department within the CIA which made Bourne and the other super agents is called Treadstone Seventy-One. The fact that the original Nxt contributors are 71 in number must mean the CIA is behind Nxt! It's a cryptic message... I can't believe no one has figured this out yet!
See, if I had been allowed to invest when I was locked out, NXT would have had 72 investors, making it holy. |
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I'm all for no regulation, but it means we all have to work a little bit harder to make sure others don't get scammed.
I called this coin a scam on the 24th after stating my position. Unfortunately most of the people who were scammed probably understood that it was most likely a scam, but couldnt afford the very small chance of missing out if in fact it wasn't (like NXT).
The fact that LeoC hasn't come back here and apologized for helping levelCoin scam a bunch of people is disgusting.
Level Coin and LeoC seem to be the same person, or at least in collusion. LeoC used the same BTC address in an extortion attempt against Ethereum as was originally posted by Level Coin here to collect funding. This showed up when the BTC address was suddenly changed in the original post. I considered LeoC's presence here a strong negative against investing, given his bad behavior elsewhere, but was just ignoring him as background noise. In hindsight, his first 2 posts within a few minutes of the Level Coin initial announcement and second post would be suspicious. Too bad LeoC doesn't choose to put his abilities to productive use - he is obviously intelligent and talented, just ethically challenged. Con men seem to enjoy the challenge of their craft and maybe even the pain they cause their victims as much as the money they make. It is a sickness. A long time ago I once had a scammer come back with phony goods when he could have just more safely disappeared with the money because he wanted to see my reaction for his pleasure. Recently I tried buying some NXT directly from a scammer, wanting to do a direct trade to build my trust rating. He's been around here and Ripple, Peezr, Dannyy, Xiaoulis or somesuch. His signature is to send a final PM promising a refund before disappearing, sort of a final little prick to the victim to rub it in. I just gloat back that these are some real miserable losers and I'm a lot better off then them, both physically and emotionally. |
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Methodology
Looking forward to pre-sale. Thanks |
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We are doing a major redesign of it over the next few weeks and migrating to SCRUM. We also have a working go client. Go get -u http://github.com/go ethereum if I recall. Is there a development site called SCRUM or are you referring to development being moved to scrum methodology? |
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Damn....that sucks guys.  Yeah, but that's why the returns are so high on the winners - a lot of risk. |
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