So you can't show a causal link, just point out the correlation? More fact, less opinion is required. The last low was Jan 14, my mistake. So I deleted that before I posted my BRB. Just for fun, let me have a a go at a barrabbas reply...  What absolute crap cherry picking the best possible case for your comparison! Do you think everyone is an idiot? It is FACT that Bitcoin is down ~20% from recent highs. Just mere crap that you mention it to support your complete BS diversions. Why don't you answer questions with facts? It is UNDISPUTABLE that you could back up your claims with the FACTS about transactions from the blockchain data. Why don't you do it? It is quite funny to watch you try and squirm out, it is quite funny actually. Why not repeat the same claims again? Maybe people will forget you don't apply logic. Ok, I tried my best. But in comparison, it isn't near long enough and doesn't contain enough diversionary threads So... unless you believe that I make the sun rise... we're back to this: So please post the blockchain data that shows the causation that you repeatable claim. And then show how this ties into the top 50/70 accounts and how the forging revenue has any relevance to business start ups and success. We can then discuss this data, rather than continue to re-read your unvarnished opinion.
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I'll drop back later, looking forward to the blockexplorer links and some factual discussion
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Do you know the difference between correlation and causation? No one would deny the price has gone down in proportion to the rise of assets. These things are correlated. You have yet to show how exactly the rise of assets has caused the decline in price. This is a very specific distinction that you seem to be unaware of.
If we accept your narrative, then it is an UNDISPUTABLE FACT That the rise of Nxt assets has also caused the decline in price of [insert other coin name that has declined in the same timeframe].
Or that I brushed my teeth this morning and the sun rose. Therefore, it is an UNDISPUTABLE FACT that brushing my teeth this morning made the sun rise. This FACT is obvious to anyone with even a minimal amount of brains in their skull, I made the sun rise.
So please post the blockchain data that shows the causation that you repeatable claim. And then show how this ties into the top 50/70 accounts and how the forging revenue has any relevance to business start ups and success. We can then discuss this data, rather than continue to re-read your unvarnished opinion.
Edit: Nxt has the option of blockchain pruning (on testnet) to deal with bloat. As long as the fee is paid, the data bloat people paid for will stay hosted.
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But if the transaction fees from the new business coming on the platform doesn't translate in some short of wealth, obviously we have a serious problem monetizing the platform and, logically, the more business coming the less advantageous (bloating comes to mind) and, under that premise, the slump in the price would be justified? You could say "no". And you could say anything you want but the FACT would remain that, big or small reward, the richest take it all.
Sorry for the delay, I don't have as much time to spend on here. Could explain your logic here pls? You say existing businesses provide no wealth (for ease, we'll assume correct). So you argue it follows that no future businesses can provide wealth? Logically, the more businesses there are the more chance of one of them 'clicking, no? You mentioned bloating but that isn't logical as the bloat (transactions) will each have a transaction fee associated. Provided the fee isn't set too low, 'bloat' is good. Could you post the blockchain data that has led you to think this pls? And presumably you define 'the richest' as anyone who holds more than 1M NXT? |
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BCNext was a long time member of this place, so the Feds must know who he is...
He also posted a "let's do Silk Road 2" thread here weeks before the Nxt ANN thread...
So NXT was really designed to host illicit markets... and this haunted BCNext until he disappeared.
Source? |
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I got to go, promised myself I would spend less time re-raking old ground  So will go do something useful/more enjoyable. But this is a positive thread, if the only gripes come from Nxt's strengths (asset exchange and business engagement) then I'll take it Will check in later on maybe. |
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Let's stick to talking about Nxt and facts rather than each other and opinion.
That would be great. Is it a FACT that the businesses built on the platform don't bring any value to NXT since all the transaction fees go only to the millonaires holders of the coin? The assumption in your question is that transaction fees from forging are a source of wealth. I showed above that they aren't (to anyone in the west, $6 a day isn't hitting the motherload). Businesses built on the platform are still in the incubation phase, as I said above, there are likely to be many failures. To answer your question, I would say 'no' to the first part and 'where is the relevance' to the second part. The value businesses will bring to the platform is proportional to the value they bring to their customers and will have nothing to do with forging. (Again, careful with the language in your FACTs. The biggest holder of Nxt got the maximum of 50M Nxt in the Genesis block and hasn't sold any since launch. A quick fact check says they now hold >>> $400,000 dollars assuming they could cash it all out at a single price, which they can't. By definition, he/she can't be considered or characterised as a millionaire.) |
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Let's stick to talking about Nxt and facts rather than each other and opinion.
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No one argues that the PLATFORM can be "useful". The question is does that usefulness add value to the coin or the project at large?
Yes. To use the platform you need to pay the transaction fees. Any and all successful use cases will add to buy demand for Nxt and add value if sustained over time. The question then is even more basic: Since the platform is very successful and the increase in business (and scams) has been and continues being nothing short of exponential, the "transaction fees" must be mighty inappropriate (where do they go? --oh wait, don't answer that, it is my understanding that they go, 99.99% to the holders of the majority of NXT, right?), since, obviously, such success, as posted above, has only brought the decimation of the price of NXT to les than 1/4 of what was only weeks ago, right? Or am I missing something here? How much does a large forger make in a year from forging (before any costs they might have)? I believe it is a "reasonable" percentage -as opposed to the scammy, ridiculous percentages earned by loads of shitcoins... but that's hardly the point. The POINT is that all of it, or 99.99% of it, by design, goes to the majority holders... those who hold millions of coins and cannot dump then in a market so lacking in liquidity, you understand? Which, again and again, comes back to the problem of distribution that has long plagued NXT. I don't say it is "unfair" but it is indeed a huge problem. It was last calculated at about 0.5% per annum (before the bear market, I would wager it is now less but let's go with it). The largest forger owning 5% of Nxt (50Million NXT) earns 250,000 NXT a year or roughly 684 NXT per day (roughly $6 a day before any running costs). And this is the biggest holder of Nxt, no one earns more than him, so we can agree that forging revenues have nothing to do with falling price (or, on a wider point, "the rich getting richer"). Why do you assume the major holders want to dump? Please define the huge problem you see. |
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No one argues that the PLATFORM can be "useful". The question is does that usefulness add value to the coin or the project at large?
Yes. To use the platform you need to pay the transaction fees. Any and all successful use cases will add to buy demand for Nxt and add value if sustained over time. The question then is even more basic: Since the platform is very successful and the increase in business (and scams) has been and continues being nothing short of exponential, the "transaction fees" must be mighty inappropriate (where do they go? --oh wait, don't answer that, it is my understanding that they go, 99.99% to the holders of the majority of NXT, right?), since, obviously, such success, as posted above, has only brought the decimation of the price of NXT to les than 1/4 of what was only weeks ago, right? Or am I missing something here? How much does a large forger make in a year from forging (before any costs they might have)? N.B 25% = 8.6M > 100% = 34.4M Nxt hasn't been at $34M since about 8 months ago, not 'only weeks ago'. Careful with your language, facts can easily be checked and it damages your credibility if you continually attempt to show things much worse than they are. It makes you look like you have a hidden agenda |
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Yet another day goes by with NXT going down further.
Which day are you referring to, it can't be today... Thats right, keep nitpicking and watch your investment disappear. I remember the days when 4k sats was considered the floor. That was when Bitcoin price was more than double. Ah, I see. You meant week or month rather than day. Perhaps write what you mean then people won't nitpick correct you when you state factually inaccurate things. So you considered 4k sats the floor when bitcoin was double the price. What has changed in Nxt's development team since then? You tell me. I am mostly a trader and turn altcoins for profit in short to medium time periods. Now I see all the big 3 suffering and I wonder if there is some basic idea they are missing. All of them are innovative and yet seems to be going down and down only. They go down in proportion to the rate of burned users leaving this echo chamber of the cryptosphere. This will continue for the short to medium term. No crypto is ready for the big time, the technology we have today may not even be compatible with the big time. Devs need to hide all the nut and bolts and wiring and make everything look like a web site with a username and password set up. Nxt is doing this for tech that isn't usefully available in other coins. See mynxt.info webwallet, and Android/iOs Apps or secureae.com, though that is mainly aimed at Bitcoiner. Nxt Mobile has now integrated the Asset Exchange. The dev team keeps producing. Skipping to the response people give after this sentiment: "What is the use of tech if there is no marketing to ordinary Joe to use it?" The answer is, there is no use to the Average Joe. It is too early to go after them, you go after businesses and developers to build things that the average joe will want to use as it is easier/cheaper/more satisfying etc. than the way they do things now. And they make it easy for the average Joe as far sighted businesses will see there is substitutional opportunity for generating profit in an emerging digital market. But not without risk, this process will have a high mortality rate just as business start ups do in the real world. But Nxt organisations like DeBuNe and Nxt Foundation (think Linux foundation, not Bitcoin Foundation) are feverishly doing this right now (and have been for a long time). Sooner or later, an idea will come at the right time in the right conditions and click. Wishful thinking you might say? Well ask yourself, how many other platforms have a liquid asset exchange, or the ability to create your own token (for crowdfunding, retail vouchers, store of value and more) and then use these things to cast votes (for dividends, decision making) and using n of m approval for multisig transactions to carry out the actions. These are business tools that Nxt has today (on mainnet and testnet, voting and ultisig is in NRS 1.5). Others can't catch Nxt quickly in this area as most of the value comes from those building on top of Nxt. And new guys will want to be with the rest of the economic activity so they would want to join were the most users are. From where I am stood, it is hard to construct an argument that this won't translate to a higher market cap over the long term. And that is only for Nxt today and it's next release, that is less than a third of the planned features > nxttechnologytree.com Tl-dr: I the short to medium term, I think you will probably have a difficult time trading. |
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Yet another day goes by with NXT going down further.
Which day are you referring to, it can't be today... Thats right, keep nitpicking and watch your investment disappear. I remember the days when 4k sats was considered the floor. That was when Bitcoin price was more than double. Ah, I see. You meant week or month rather than day. Perhaps write what you mean then people won't nitpick correct you when you state factually inaccurate things. So you considered 4k sats the floor when bitcoin was double the price. What has changed in Nxt's development team since then? |
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Yet another day goes by with NXT going down further.
Which day are you referring to, it can't be today...  |
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Let us know if you have more coin suggestions  This? Hi Bobster, Nxt has 95% of its activity on nxtforum.org. If you go there, there will be 100-150 people online at any one time (scroll to the very bottom of the frontpage of nxtforum.org to see). It is currently at 134 and it is like this day after day. In the 108 days that the forum has been open, there has been an average of 550 posts per day. Can you reflect this in your stats? We don't really use Reddit so your website isn't capturing the big picture, Nxt has a HUGE community. *snip* Can add these bits to give a fuller picture? Keep up the good work. Thanks Hi Daedelus, *snip* Our long term plan is to include the numbers you highlighted but we are finding it hard to go to every single coin forums and getting these numbers. There does not seem to be one standard way to get the numbers from all the coin forums so this is pretty challenging on our side. I have to agree with you though that these numbers are very important and is something that we very much want to track. Thank you very much for the feedback. Let us know if you have more suggestions Any progress? This is important for a lot of communities since this forum has become an enormous cesspool |
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IPO = ICO = PRE SALE = PREMINE = INSTAMINE = SCAM
I see we like broad brush strokes here Most ICO/IPO relate to POS. How do you premine something that has no mining? " Show me the logic...
POS is not premined. Premined is a negative term meaning someone was dishonest by premining the currency before it was brought on the market and when difficulty was still very low, while claiming at the same time that everyone has the same chance to mine it, which is a lie when you premine.
With most POS there is no mining at all, so there can not be premining. All coins were created at inception, just like with stocks indeed, but in contrast to stocks, where often more stocks are created in the future (inflation of supply), with some POS no more tokens can be created, ever. Therefore it is a better store of value than even bitcoin, as it is the only currency that has no inflation at all."* As long as everything was public (albeit usually in a crypto forum) and there was no restriction on the opportunity for people to join in, how do you support your statement? *Marc De Mesel |
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What if the 'unfair distribution' is a large factor in a coins success?
There have been many attempts to clone POS with a "fair distribution". Can anyone name any? And if you can, has the "fair distribution" made it successful?
To quote another:
"
We shouldn't ignore the lessons of history. Societies created by a lot of people are abnormal phenomena... The most stable economic systems were always bootstrapped by a few people (feods, corporations, etc.) so it's safer to follow a similar way.
"
All evidence so far supports the thinking that "A courtyard common to all will be swept by none".
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But bittrex and cryptsy are two major exchanges right now, so what will happen if they goes down? alternative exchanges? there will not major and high volume exchanges after trex or cryptsy.
Major exchanges...and then what? Once upon a time there was a major exchange called MtGox... and quite lot more . I think we could do quite well with distributed exchanges only. Moreover I think distributed exchanges are the natural way for the evolution of crypto economy. Re: distributed exchanges, have you tried Multigateway? multigateway.org, main exchange is for BTC right now but supports 5-6 others. I don't think people will move from centralized options until they are forced to, i.e. by their absence |
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No one argues that the PLATFORM can be "useful". The question is does that usefulness add value to the coin or the project at large?
Yes. To use the platform you need to pay the transaction fees. Any and all successful use cases will add to buy demand for Nxt and add value if sustained over time. |
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I'm looking to set up a new service using a NXT asset, its been about a year, but last I checked, NXT does not support a SendToMany command like bitcoind does. Is this still the case?
What alternative methods are people using to automate the paying out of multiple addresses at once for NXT assets?
Hi, IIRC, SendToMany is seen as a cheap way of bloating the blockchain. i.e. 1000 txs only costs 1 NXT There is a dividend function in the core now and one built buy third party devs (Dividend+) that automates paying a list of accounts. In this case, 1000 txs cost 1000 NXT and so more expensive to bloat the bloackchain. But Nxt has (on testnet) prunable messages now so it may be the case that in future, there might be a SendToMany function that is only enabled for prunable data. So the bloat concern will be removed. Btw, the main thread on BTT is now here: https://bitcointalk.org/index.php?topic=587007.0 |
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