Funny, I can't seem to get anyone to admit that investment was ended ended early in NXT or cancelled in eMunie to prevent further dilution of existing investors, though it is obvious that this is the case.
Aye, that's funny. I suspect people have another opinion and just think that u r trolling them. It's been my experience that when people try to ignore or dodge around an issue, and accuse the person questioning them of trolling, that it's because it's the truth. Sorry to other people reading this discussion as it's tangential to Etherium, but the opportunity arose to confront the person responsible. It does highlight the importance of sticking with a plan in a funding round once it is announced. NXT has made an enemy where it didn't need to have one, and I will continue to discourage people from investing in it as I feel the situation shows a lack of integrity of the people managing the project. All they had to do was say, "we are closing investment, so if you want to invest you need to do so within 4 hours" (or some reasonable time frame). All they have to do at this point is admit to the real reason they closed investment early. |
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How does ending investment early without advance notice contribute to achieving the above?
No idea. U should ask BCNext.  Funny, I can't seem to get anyone to admit that investment was ended ended early in NXT or cancelled in eMunie to prevent further dilution of existing investors, though it is obvious that this is the case. |
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Q: Why was the initial funding cancelled suddenly with few people?
A: I wanted Nxt to be launched by the community, not by a single person. Success of Nxt is supposed to be achieved by work of a LOT of PEOPLE.
How does ending investment early without advance notice contribute to achieving the above? |
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NXT slammed the door in my face when I went to invest in it.
Obviously, we put different meaning into "fair", ok, never mind. So, why was investment in NXT ended 6 weeks early? |
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I personally think the distribution model is a lot fairer than the way Nxt and mastercoin did theirs.
I'd like to remind that Nxt raised only ~21 BTC. I personally think the distribution model is a lot fairer than the way Nxt and mastercoin did theirs. I'm not knowledgeable enough about emunie or bitshares to comment on their model, but I think ethereum has more promise than any of these other coins PLUS a fairer distribution.
Mastercoin was very fair in its fundraising. NXT slammed the door in my face when I went to invest in it. Clearly, they closed the investment round 6 weeks early without advance notice to avoid further dilution of existing investors. I was busy with moving some Mastercoin to Protoshares at the time, planned on investing in NXT next. From https://bitcointalk.org/index.php?topic=303898.480 : Can we still join in between now and January 3? I haven't really seen any clear definition of a deadline.
I'm waiting for the answer. BCNext reads this thread. Some changes in the plan: 1. Fundraising is over. That last 1 BTC, sent after the 2nd marking transaction, will be accepted but no more deposits should be made. 2. Nxt will be launched earlier than on the 3rd of January, right after the final test. 3. New Nxt users r supposed to be attracted by selling NXT and distributing via Nxt Faucet. 4. Messaging feature will be released later to avoid situation when somebody attempts to bloat the blockchain making it too huge for newcomers. BTW we need one more bootstrapping server, coz 2 servers is not enough.So, if I understand this correctly: 1) the main dev (BCNext) no longer posts directly to this thread but you purport to communicate with him and speak for him about the project, something we can't confirm, 2) the deadline for contributing BTC to acquire Nxt, which was originally described as being open until the genesis block was approved by the community sometimes at least a month from now, is now suddenly declared over with no advance warning; and 3) the BTC that were already sent to acquire Nxt, which the main dev (BCNext) promised earlier in this thread not to touch until the genesis block was generated, have now been moved. |
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True, the 1.2 Trillion is not mined all at once. It is more of a predicted eventual total over a time period described as the "foreseeable future". The distribution seems more like eMunie, where there is a gradual decrease in initial investor percentage stakes over time.
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XCP has a symbolic relationship with Btc. Do they share symbols? Did you mean symbiotic? I am confused. MSC & XCP have alot of similarities except MSC says it on paper only XCP has a functional D'ex what MSC said what they could do XCP is actually doing it. My CryptoPortfolio consist of projects that are building/constructing decentralize peer2peer trustless technology ( XCP, MSC, NXT, PTS) Zerocoin is goin to be one of the top most sort out coin of 2014 best regards peer2peer360 Thanks for sharing your insight, already pleased with Mastercoin and Invictus. I'm passing on NXT for personal reasons, but will flip a coin into XCP. I showed it to a developer at the Bitcoin meetup last night, he seemed quite excited about it. It could be another offbeat project which really explodes. I'll have to check out Zerocoin, have heard a lot about it.. |
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Really cool website! I like the layered moving text over the images. I'm looking forward to your insights on cryto assets. |
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far from panicking..
amongst many of my portfolios that are being diversified.
NXT, PTS, & MSC is the last one to be touched ( my business partner & I are in debate about this)
I believe in decentralized, peer2peer, trustless technology. (we're heavily invested in the most)
Ethereum & XCP are being added to our growing diversified cryptoportfolio.
investing is knowing how to manage risk
best regards
peer2peer360 Group
I'd be very interested in knowing your portfolio list. We have very similar interests. I haven't seen XCP yet, thanks for the tip. Edit: looked at XCP, looks interesting, but it seems like using the BTC for development would be a lot more productive than just burning it. |
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From Whitepaper, https://docs.google.com/document/d/1Mq4OLoDmMgfXpxhcuAPiV5KyNJr6_BO1FVptCXn5rr8/edit?pli=1 : Ether will have a theoretical hard cap of 2 128 units (compare 250.9 in BTC), although not more than 2 100 units will be released in the foreseeable future. For convenience and to avoid future argument (see the current mBTC/uBTC/satoshi debate), the denominations will be pre-labelled: 1: wei 10^6: szabo 10^12: finney 10^18: ether 10^24: koblitz 10^30: turing I calculate 2 100 = 1.26765x10 29 wei = 1.26765x10 29-18 ether = 1.26765x10 11 ether (126.765 billion ether) edited to correct math error |
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Sure no problem. Yes, the board was aware I would be selling (and in fact had been urging me to do so for some time). I don't think anybody was prepared for the way people panicked though. Ron (Ripper) had to jump on reddit and calm people's fears because I was offline at that time. He and I had been discussing my planned sale just a few hours before I announced it. August 1st is when I qualify for long-term capital gains on my Mastercoins, and therefore I'm more willing to sell when we get there. I did not mean to imply that I would never change my price between now and then. I REALLY want to work full-time on Mastercoin, and that is what is driving me to do this, painful though it is to see how the price has fallen. The price movement is simply what happens when somebody sells into very thin volume. Hopefully the current price will be a window of opportunity for a few people who've been kicking themselves for missing out on the initial 1Exodus distribution.  Maybe it would be best to hold a public Dutch Auction to sell off the large block of MSC. An example of a Dutch Auction was the Google IPO. |
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Will the forum be back up or is there a new link to it?
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(1) NXT is dropping also.
You made my day too! |
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One way is to perform a public IPO immediately on launch with a limited amount of currency, with the same terms as what was specified already.
That way the general public that aren't a bunch of trolls can participate, and the project can no longer be called a scam, as its out there.
I'm open to thoughts and suggestions, but bear in mind that my primary concern right now is system development, not investment. It's always been that way, but with a preference of the initial user base is ready to go on the day.
As we've seen that's caused some issues, so my current thinking is something along the lines of the above.
I suspect this is the real reason for cancelling the presale - preventing further dilution of existing investment. It's NXT all over again. |
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Sounds more like an excuse to close the sale before it even happens - NXT all over again.
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I am waiting for a response to the post I made on the eMunie forum to avoid a repeat of what happened with NXT. It has been several days. Either you have a set time period and/or capitalization limit for investment or you don't. Saying it may be arbitrarily ended without notice at any time by the founder really means there is neither a set time frame nor cap limit. from eMunie forum, http://forum.emunie.com/index.php?/topic/992-important-information-regarding-public-pre-launch-sale/page-7 : Timb, on 26 Dec 2013 - 5:07 PM, said:
Yes that is possible, discouraged but possible.
There is currently no limit on the amount of coins being distributed in total, Fuserleer may choose to close the presale if he believes enough have been distributed. There are currently no plans or any mentions that there will be a total cap. Could we please have better definition on this? It would help a lot if there is either a specific deadline date with no limit on distribution or a specific cap distribution limit to watch for if it is being approached prior to the planned ending date. It would also be good to have advance warning of the sale closing. NXT closed six weeks early without warning during the presale and I had the door slammed in my face while asking for similar definition on investment deadlines because of this kind of ambiguity. This has left me with a very strong bias against NXT. |
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lol i don't know about emunie, but biggest scam is already in action its NXT - 100% premined and owned by 71 man.
LOL, even if they "bought" them, going through risk - IT'S DOESN'T CHANGE nothing, few people have ALLl premine. they bought this? who fucks?
The result is the same - the market is totally under their control, they give to public little amount of their huge stakes - then pump and dump the price and turn back all coins at cheap price that before they "gave" to investors. LOL.
They are arrogant enough to say its not true. NXT - biggest scam ever. Even if those 71 people are invested the money and "bought" all premine from genesys block, the distribution of 100% of coins to only 71 people - automatically turns it in scam scheme. it was big mistake do distribution in this way, and now this people ahah telling us that they "giveaway" large amount - then i see when they pumped and dumped and bought back their coins for cheap price. I saw incredibly big walls that were only to make "fear" and never were for long. So that were their manipulation. 71 lucky people scam entire community. and community is blind.
Try to tell me that i lost the train,yeah big scam train. ahah, better i be honest than big asshole that scam people. and i didnt loose nothing, bought when it was cheap - already sold. don't like it. we are enough scammed in the real world with dollar, now we starting to use scam NXT as 2-nd gen. damn
most dumb post i ever read in my life. crypto is a technology. were facebook, google and twitter a scam? less than 5 people owned facebook shares....and look how many own them now. and btw NXt is already right now more distributed than bitcoin was in its first 2 months. bitcoin wasn't widely distributed in its origin....very few ppl knew of its launch......only feckless unemployed ppl playing world of warcraft or taking drugs got wind of it....early miners were few....early miners got tons ...and now noone can mine anything at all without massive investments in asic. and after 5 years less than 1000 ppl own more than 50% of total bitcoins. not widely distributed at all. i'd rather invest directly in an IPo and pay directly the developers than pay miners which are not even needed anymore thanks to Proof of stake software. the real scam coins are the miner coins....cos miners make you believe they give a usefuil service...when infact it's now a total waste (of resources and money). and they jump in in all IPO threads calling them scam. they want to safeguard their current "non job" of miners. I have no interest in paying lazy gits miners for processing fees, mantaining system stability and mining new coins when new proof of stake software can do all that without them. investing is a more legitimate job than the current crypto mining industry. whatever your opinion may be NXT works as intended and it is what the dev said it would be when he announced it. the NXT developer said he would deliver X ...and delivered exactly X . you may not like X.....but you have no right to call it a scam. about the OP and eMunie .....eMunie has verified beta testers and screenshots (maybe a video would be nice seeing it in action)....i don't care in any way what furseleers past is....he can be even the biggest criminal the wolrd has ever seen ....but if he delivers a good working technology which is better than what is now available,.....that is all i care about. do we know anything about satoshi, sunny king etc? no ...nor we care. if he will deliver a good product.....the first thing I would do is sue you. one thing is to raise awareness or asking question.....another thing is calling emunie a scam without any real evidence as of yet. your unconditional public beta request is unrealistic.....but i'm sure dan could invite someone of the mods of bitcointalk to beta test to verify that there's indeed a product in development. i think that would put some of the slander at rest I'm afraid I have a very strong bias against NXT for personal reasons. I was planning to invest, thought investment deadline was January 3, had door slammed in my face when I went to go do so while someone else was allowed in. I was waiting for Mastercoin to go back up, was watching NXT thread on bitcointalk. After a pause in activity, a message was posted that they were going ahead. I double checked original post of project, saw it was ambiguous about actual end date of investment round. I posted a message asking for clarification of actual due date, got response that they'll check with project founder to find out when the deadline is, then I saw another post 8 hours later that BTC coins had been moved from address, no more investment was accepted, but they were allowing BTC that was deposited after BTC coins were moved but but before post announcing close of investment. early termination of NXT funding round: Can we still join in between now and January 3? I haven't really seen any clear definition of a deadline.
I'm waiting for the answer. BCNext reads this thread. Some changes in the plan: 1. Fundraising is over. That last 1 BTC, sent after the 2nd marking transaction, will be accepted but no more deposits should be made. 2. Nxt will be launched earlier than on the 3rd of January, right after the final test. 3. New Nxt users r supposed to be attracted by selling NXT and distributing via Nxt Faucet. 4. Messaging feature will be released later to avoid situation when somebody attempts to bloat the blockchain making it too huge for newcomers. BTW we need one more bootstrapping server, coz 2 servers is not enough.So, if I understand this correctly: 1) the main dev (BCNext) no longer posts directly to this thread but you purport to communicate with him and speak for him about the project, something we can't confirm, 2) the deadline for contributing BTC to acquire Nxt, which was originally described as being open until the genesis block was approved by the community sometimes at least a month from now, is now suddenly declared over with no advance warning; and 3) the BTC that were already sent to acquire Nxt, which the main dev (BCNext) promised earlier in this thread not to touch until the genesis block was generated, have now been moved. To me, this is like posted hours on business having a sale being 8-5, I see lights go off from their back office across the street at 1 PM, I call to see if they're closing early, if so, when, get voicemail and leave message, get a call later back at 2 PM saying they'll check with owner to see if closing, then get another call at 3 PM saying yes, they closed at 2:30 and the sale is over and I'm out of luck, then I find out that someone else who slid a check under the door at 2:45 after it was closed got to buy at the sale price. I thought this was pretty crappy treatment of a potential investor. If this is how they treat people, I suspect their lack of social skills and flakey approach to business will eventually doom their project. I'm amazed at how much it has gone up in value with only the release of a buggy, partially closed source client. The initial intro of NXT had some weird drama, there was no white paper, and very ambiguous definition of the project and the funding schedule. It doesn't seem at all professional and the initial funding round only raised 21 BTC. Any additional development will have to be volunteer or stakeholders offering bounties. So far, the development has been a one man band. There has been a lot of 3rd party development, with an ecosystem quickly evolving. The upside of NXT is if such a crap project could have this kind of success, then a well thought out, documented, and beta tested project with equitable opportunity for all investors, developers, and other participants should be able to do even better. eMunie seems to be such a project. |
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Thanks, curious what alias feature is. |
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Anyone know when NXT will be open sourced? Last I knew it was going to be released 1/3/14 but I can't find a download or reference to it anywhere.
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Did the NXT source code get released today? I couldn't find any mention of it anywhere, checked download site for client as well as Bitcointalk threads.
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