Yes it is possible at this point. The dev has been pretty active on the forum but under a pseudonym, so not a big reputation backing it. Additionally the source code is closed at this point so no security audits are possible.
I'm not suggesting it is likely that it is a scam, but it is possible.
I'm surprised more people aren't being cautious or discussing this possibility. |
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This is just a theory, not fact.
The main attractive feature of NXT is it's decentralised peer to peer features exchange. Which apparently will come in january. The rest of the coin is a 100% premine based on proof of stake.
What if the exchange never appears? And he just pumped that up so he could sell 100 million of his coins for 6 bitcoin per million. Then he just disappears in january and the price plummets?
What do people think, is this far fetched or possible? Seen a lot of scams in this community...
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eMunie promise of keeping its value stable is not credible because they don't have the ability and means to do do. Since when people selling eMu en mass, they have to have a huge reserve of dollar to back the money up otherwise its price against dollar will have to fall. They won't be able to do that. When people decide to sell eMunie on mass all creation of new coins stops right away. Also the foundation will be backed up by several million dollars to do some initial regulation to stabilize the price in the first weeks. It has to be understood that in any market price has always been acting as a necessary signal to guide the behavior of the market participants. For example: with bitcoin market if you are holding 100 bitcoin, when the price of bitcoin raising you would be inclined to sell them to more willing buyer, but when the price falls by half, you may decide to keep them all since you evaluate that the potential of the bitcoin is higher than the bitcoin's price right now. All bitcoin market participants follow the same process using the current price as signal as if they are many ships and liners following the lighthouse to reach the shore The true price is discovered organically.
Now you don't have the price signal here so the price of eMunie is artificially kept up. This is going to be a mess Of course you have the price signal. The fiat/emunie exchange is buildin into the system, and the system can react accordingly to stabilize the price while keeping up with demand. Well, let's how it going to turn out. I am not going to comment more since it is a NXT thread. I am going to buy a bit of eMu to be able to witness the unfolding first hand. All I am saying is that you are not going to be able to keep the value of the money stable. That's an empty promise. It is good to experiment though since it does not cost that much to fix the software later on. Yah the currency swings in crypto are too wild to control. emunie has cool parts to it but some of it is a dud. the devs should keep the cool bits and scrap the stuff like trying to keep the value of the money stable... that is just going to confuse the common person and look scammy. And I don't think it's going to work. Either the price will crash or the price will soar. |
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I've been reading through the original bitcoin talk thread announcing NXT. As far as I can tell, fundraising was initially announced to be open until the coin launched on Jan 3, but then BCNext closed it without any warning about six weeks earlier than that date after he got 20 BTC ( https://bitcointalk.org/index.php?topic=303898.msg3620732#msg3620732) from only 71 stakeholders even though here he said he wanted at least 250 ( https://bitcointalk.org/index.php?topic=303898.300). I still haven't seen an explanation of why he closed the fundraising so early with so few stakeholders. I'm sure more people would have invested if the window stayed open and that would have reduced the concentration. Does anyone know why this was done? It seems like it would have benefited the coin to keep the fundraising open longer. Yeah this annoyed me as I wanted to invest. I was also talking to BCNext about a project - creating an exchange and he suddenly disappeared. We agreed and I started working on it and he disappears a couple of weeks later and shuts down the funding. Someone will clone this and get it done right, this has been handled like a shambles. |
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Hmm... the highest bid on dgex right now is 0.00000266BTC. That equates to 1 Million NXT for 2.6BTC.
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I have a Bitcoin withdrawal that never got sent.
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Bybitcoin are you selling NXT?  I can buy 1M nxt off you for 4btc, we do it in two trades of 2btc each? It is way below the actual price that I offered for today (1M Nxt for 8BTC) I sell those 400K to mcjavar because he got scammed and I want return his faith back into Nxt agenda! Ok Cool. 8BTC per 1M a bit too risky for me. PM me if you want 4btc for them in 2 lots, otherwise I'm gonna sit back and watch for a while I can do 1 Million NXT for 6.66 BTC if you'd like. Really appreciate the offer but 4 BTC is as high as I can go (literally is all the money I have). Too many times I've seen a new coin get listed on cryptsy and the price plummets, so even 4 BTC is probably a big risk for me lol. PM me if you're interested |
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Bybitcoin are you selling NXT? I can buy 1M nxt off you for 4btc, we do it in two trades of 2btc each? It is way below the actual price that I offered for today (1M Nxt for 8BTC) I sell those 400K to mcjavar because he got scammed and I want return his faith back into Nxt agenda! Ok Cool. 8BTC per 1M a bit too risky for me. PM me if you want 4btc for them in 2 lots, otherwise I'm gonna sit back and watch for a while |
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Bybitcoin are you selling NXT? I can buy 1M nxt off you for 4btc, we do it in two trades of 2btc each? |
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Any chance someone can kindly send just 1 NXT to 8027715143254771220? I want to test if it's working. I plan to buy some soon Hmm... not getting any peers on my client. Do I need to unblock a specific port in my firewall or should it work by default? I am running it on my windows vista laptop. |
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Any chance someone can kindly send just 1 NXT to 8027715143254771220? I want to test if it's working. I plan to buy some soon |
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All I get when I run it from the windows cmd line is this:
D:\nxt\nxt>java -Xms512m -Xmx1024m -jar start.jar
2013-12-03 21:33:53.401:INFO:oejs.Server:main: jetty-9.1.0.v20131115
2013-12-03 21:33:53.433:INFO:oejdp.ScanningAppProvider:main: Deployment monitor
[file:/D:/nxt/nxt/webapps/] at interval 1
[2013-12-03 21:33:54.395] Nxt 0.3.7 started.
[2013-12-03 21:33:54.405] Loading transactions...
[2013-12-03 21:33:54.559] ...Done
[2013-12-03 21:33:54.559] Loading peers...
[2013-12-03 21:33:54.568] ...Done
[2013-12-03 21:33:54.568] Loading blocks...
[2013-12-03 21:33:55.330] 10: java.io.EOFException
2013-12-03 21:33:55.331:INFO:oejsh.ContextHandler:main: Started o.e.j.w.WebAppCo
ntext@1615ef2{/,file:/D:/nxt/nxt/webapps/root/,AVAILABLE}{D:\nxt\nxt\webapps\roo
t}
2013-12-03 21:35:22.345:INFO:oejs.ServerConnector:main: Started ServerConnector@
1384f2{HTTP/1.1}{0.0.0.0:7874}
Nothing actually happens? Been that way for 10 minutes. And was like it when I tried earlier.
Any ideas please
Looks like your blocks.nxt file has been corrupted. You will have to delete blocks.nxt (should be inside the nxt folder) and try again. If it still doesn't work, try getting the nxtfiles.zip file CfB posted earlier, which contains an archive of all *.nxt files up to some point, it contains blocks.nxt to help bootstrap the blockchain. Thank you that worked!!  I deleted the blocks.nxt file and simply tried again. |
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All I get when I run it from the windows cmd line is this:
D:\nxt\nxt>java -Xms512m -Xmx1024m -jar start.jar
2013-12-03 21:33:53.401:INFO:oejs.Server:main: jetty-9.1.0.v20131115
2013-12-03 21:33:53.433:INFO:oejdp.ScanningAppProvider:main: Deployment monitor
[file:/D:/nxt/nxt/webapps/] at interval 1
[2013-12-03 21:33:54.395] Nxt 0.3.7 started.
[2013-12-03 21:33:54.405] Loading transactions...
[2013-12-03 21:33:54.559] ...Done
[2013-12-03 21:33:54.559] Loading peers...
[2013-12-03 21:33:54.568] ...Done
[2013-12-03 21:33:54.568] Loading blocks...
[2013-12-03 21:33:55.330] 10: java.io.EOFException
2013-12-03 21:33:55.331:INFO:oejsh.ContextHandler:main: Started o.e.j.w.WebAppCo
ntext@1615ef2{/,file:/D:/nxt/nxt/webapps/root/,AVAILABLE}{D:\nxt\nxt\webapps\roo
t}
2013-12-03 21:35:22.345:INFO:oejs.ServerConnector:main: Started ServerConnector@
1384f2{HTTP/1.1}{0.0.0.0:7874}
Nothing actually happens? Been that way for 10 minutes. And was like it when I tried earlier.
Any ideas please
I just started mine with the same java options and everything is working. Did you open your browser and go to <serverip>:7875? I got to http://localhost:7875/ in chrome and I get "Oops! Google Chrome could not connect to localhost:7875"  |
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All I get when I run it from the windows cmd line is this:
D:\nxt\nxt>java -Xms512m -Xmx1024m -jar start.jar
2013-12-03 21:33:53.401:INFO:oejs.Server:main: jetty-9.1.0.v20131115
2013-12-03 21:33:53.433:INFO:oejdp.ScanningAppProvider:main: Deployment monitor
[file:/D:/nxt/nxt/webapps/] at interval 1
[2013-12-03 21:33:54.395] Nxt 0.3.7 started.
[2013-12-03 21:33:54.405] Loading transactions...
[2013-12-03 21:33:54.559] ...Done
[2013-12-03 21:33:54.559] Loading peers...
[2013-12-03 21:33:54.568] ...Done
[2013-12-03 21:33:54.568] Loading blocks...
[2013-12-03 21:33:55.330] 10: java.io.EOFException
2013-12-03 21:33:55.331:INFO:oejsh.ContextHandler:main: Started o.e.j.w.WebAppCo
ntext@1615ef2{/,file:/D:/nxt/nxt/webapps/root/,AVAILABLE}{D:\nxt\nxt\webapps\roo
t}
2013-12-03 21:35:22.345:INFO:oejs.ServerConnector:main: Started ServerConnector@
1384f2{HTTP/1.1}{0.0.0.0:7874}
Nothing actually happens? Been that way for 10 minutes. And was like it when I tried earlier.
Any ideas please
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WTB 1 Million NXT. Pm me your offer. 100k quantities also considered.
I'm also trustworthy. I've done $30,000 worth trades through pm's since joining many months ago, quite a few were posted publicly on the forum.
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Posting this for the third time now: (not setting a good example ignoring questions you find awkward imo).
I have a question about the demand based supply, as I'm sure other potential investors do too. If the point of the demand based supply is supposed to keep the price stable and avoid minimal fluctuations (correct?) what do I stand to gain from taking a big risk and investing my money by buying the currency? If the price is designed to remain stable how do I justify the lack of big potential payoff for the risk of investing?
As we all know in the early stages for a crypto currency actual usage for products and services is extremely limited and adopters are mostly drawn in by the investment potential. Once enough investors have been drawn in the coin gains critical mass and then there's enough people holding the coin to make it worthwhile for services to accept payment for it etc. This is what happened with Bitcoin and is happening with Litecoin.
Interested to hear your thoughts on this. My take on it is that you should not introduce a system to stabilise the price until after the coin has been very well distributed amongst adopters... Or perhaps incrementally increase the strength of the stablisation process... so the effect doubles in strength every interval.
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This tastes bad. He raised millions when he knew he would be shutting the site down because he couldn't handle the support. How is that ethical?
Feel sorry for investors.
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The excuse for shutting down the site is: mcxNOW is shutting down for a period of time
Withdraw all your coins before December 20th
mcxNOW has seen unprecedented growth in recent months and especially in the last few weeks. mcxNOW is a custom coded exchange built 100% by one man in C++ . This means if anything has to be modified then only one person can do it.
Unfortunately the growth has been too fast to match with the support requirement as only one person can currently do all support. This is a burden of 200 to 400 emails a day among many requests on IRC and through chat. This makes development of mcxNOW nearly impossible without neglecting valid user requests through support.
I am happy that in over 7 months mcxNOW has not been hacked or lost any coins and that the exchange has scaled well from 100 users upto a peak of about 3500 users online at once, it shows the design here is pretty good. However I never anticipated some aspects of running an exchange that are quite important (ie. support) so I need to work on this before allowing the site to grow. There is so much wrong with that it's not funny. Firstly all you have to do halt growth, is stop new account registrations, not stop providing a service altogether. Secondly you implement a support ticketing system that several people have access to, as most support queries will be the same basic stuff over and over that doesn't require RS to answer. It takes like a few hours to install one of the numerous open source support ticketing systems and have it polling an email box, I have done it many times. Lastly to suspend the trading of all coins without even a days warning is just wrong. I posted earlier how it looked suspicious to me that the trading volumes were sky high during the period he was raising funds, and after his fund raising was over the volumes plummeted to 3-4 BTC traded per day for most coins (i have noted the actual numbers in another thread). I also wonder, if he was struggling with support and couldn't cope how is it ethical to sell a ton of shares to raise funds, knowing he is going to have to shut the site down? Would many people have bought those shares knowing he was going to have to shut it down? I very much doubt it. |
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Yeah there's 16000 accounts but the volume just plain sucks, at a time too where volume on every other main exchange is through the roof.
It was actually picking up rather nicely until all the balances were sucked into buying mcxfees.
Seems a coincidence the trading volumes plummet after the mcxfee pre-sale ends, no? |
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