Once again, you don't want to hear (read) what you don't want to hear. And that is fine. And it doesn't matter if it is old or new. I wasn't even remotely interested in cryptocurrencies when Next came out so pretending that I pronounce it a scam because I didn't get any is like pretending I would be mad because my girlfriend is not a virgin, ok?

I have read extensibly, about what went on with the so called IPO. I wasn't there or even here (in cryptoland), so it isn't personal at all. As a matter of fact my interest in NEXT was heavily piqued when I saw it was innovative and different. No problem there. The problem is that a few people -maybe just a handful, own it. And it is a problem ONLY because of two things: Anonimity and Lack of accountability. The third problem is lack of regulation, of course.
The three put together, make this a huge scam. Huge: There are thing that you can do, and not being a scam, and things that, if you do, make it a huge scam. The distribution used here, makes it a huge scam. Period.

And, once again, Bitcoin has no correlation with this in any way, shape or form. Anyone, OVER YEARS, could have easily bought millions of bitcoins. ANYONE at all, let alone mine it. So it isn't and never was a scam. Unlike next. Which is not to say there are not a lot of problems and flaws in bitcoin, there are. But it isn't a scam.

Next is.

No, according to me 5 years ago Bitcoin was a new concept for a potentially revolutionary for of payment. And I would probably would not have thought much of it except for another anarchistic pipe dream. Now if I would have given it some deeper mind, I would have probably been a converted very quickly. But there was no money to be made in bitcoin. For years. So that, in and of itself, separates it completely from NXT whose main if not only purpose was, as clearly evidenced, to make a very few amount of people a lot of quick money. By design. Proven by facts and by it's "distribution". PROVEN.

2.- No, it really doesn't matter who you are. It is clear that it is another scammer whether your scheme is already posted or not.

Me? I just trade on these scams trying to avoid getting too burned and hoping to find Bitcoin version 2 -the evolution of Bitcoin, that will correct some or all of its obvious flaws. No matter much who I am, because I am not scamming people nor pretend to be an honest anonymous individual while taking other people's money.

Think of me as someone that will expose alt scams as he sees them. And run with it.

I guess if I don't answer you the interested parties -you can find them and their schemes generally at the AE, with many more to come-, would continue to 'disperse", so I will try to summarize the evidence:

Call it what you like, this was not only pre-mined but given away to 70-odd wallets (which can easily be controlled by one or a handful of individuals). That should light up the reds in itself, more than a Christmas Tree. It wasn't advertised at all, of course, and it was "abruptly" interrupted when people started to show up for a piece of the action.

As a consequence, and as of now, the top 10 wallets hold almost 1/3 of all coins (do your math yourself to corroborate the absurd distribution, going down the food chain).

There's total anonimity -i.e.: no transparency whatsoever- and lack of accountability. This means they (or even "he") can do anything they want at any time, no strings attached.

Assuming they have not done anything improper until now, even assuming they will not do anything improper in the future, in itself, the coin and their investors are being hurt but such outrageous distribution. You can witness yourself the massive dumping by just following the balances of the wallets.
That dumping not only affects the price of the coin, but also the volume, the reluctance of the exchanges (Mintpal) and the liquidity of the coin.

All of the above, if you are dealing with the best, more honest, nicest group of individuals that have ever existed on the face of this earth.

Now, if some or all of them (assuming there are more than one), decides to actually manipulate the price (you know, sell off to be able to buy double for half, rinse and repeat) you have your investment at the entire whim of just a few people who not only have and continue scamming to get your money -and getting it- , but could take most if not all of it with the easiest, simplest of strategies.

I know I haven't given you the answers that you want, because you are a believer, a fan boy as it were, but since you asked...

But I am just starting out... I have investigated only 3 coins. 3 outright scams. NEXT being the most recent....

you can follow me to DARK next. I'll most certainly will post my findings. After that, Master... on the outside chance you may want to really find out what's going on.

Now, here, we all do.

How peculiar... Rob's undoing will come from partying really high and dress for vacation... I guess the inevitable will come regardless under what disguise just like Al Capone fell for stupid relative minimal income tax evasion.

This entire house of cards, scam, will quickly fall not for how one idiot shows up at a meeting or posses for a picture... that only corroborates the obvious: That's he is an idiot.

This will fall -it is tic... tic... ticking as we speak- for the same reason: For what it is and will inevitable show to be: An orchestrated scam.

 

Actually, your answer is totally ridiculous and argumentative.

1.- Minimal as it is, BTC is a global phenomenon on which several -and growing- real life business are based. It has staying power proven through years of all kinds of attacks and manipulations and a clear path as to what it is, it represents and who the face of it is (The Bitcoin Foundation, with names and addresses, physical ones, as well and TAX IDs attached to it... none of which applies to NXT). Additionally, hundreds of independent organisms and enterprises do control who is mining and how much are they mining. So your point comparing NXT to BTC is utterly ridiculous, ok?

2.- You (who are you, by the way?) may have spoken to "some of these holders" or "Yoda" for all I care. It is argumentative and doesn't add any transparency to the conversation. Either put up or, kindly, shut up.

It would be called transparency... but you don't wanna know anything about that would you?

For just this once more, I'll entertain you questions. Either you are capable of debate in a polite AND educated manner, or just go on to your scams and leave me alone, ok?

Final answer to the "question": An attack would cause total panic and the price would go to near ZERO. Since the only millonaires in NEXT are the person or persons who control those top wallets -including the ones that have sold most of their coins- the could easily buy back for peanuts all existing coins. And, in actuality, since they perpetrated the attack and have total control of the network, no actual damage, let alone "destruction", would have happened at all.

Oh, but since "they" are all saints and one of them actually doesn't even own one NEXT (the founder), as some would lead you to believe, they are not going to do that, are they? They are such nice people...

Oh and it is so incredibly funny when someone pretends to know how many NXT the founder or the developers have... really. how do you know, because they have stated so on a forum, anonymously? Let me quote a full post that reflects my thoughts exactly, under the linked, totally misleading, infographics:

"do you work in NSA or do have some prove that these 76 or 71 people were different human beings and not only 1 or 2 developers?

you don't even have IP addresses of that userids so what make you believe that you can rely on relatively anonymous posts on bicointalk where anyone can have so many identities which he is able to use??

So how can you know how many altcoins/NXT BCnext have??"

But that dear James is wanting to assume that those top 20 holders will not be the perpetrators of the attack... which makes the whole point.

But of course, like Twin here, you are on to your own scams, so please do carry on...

 Well thank you for being at least informative. So not just 20 (like I had read in a source usually well in formed) but 70. Hardly changes the equation in a significant manner: I'll conceived initial distribution no matter what which never professes to be wide no matter how you choose to look at it.

Yes there were opportunities to buy in at ridiculously low prices but we are talking days, few, no YEARS as the case of bitcoin is... which I answer above extensibly.

As for the example of hashrate that you make, it was GHASH.IO the pool in question and it never reached above 38%, so no real "danger" (although an attack can actually be perpetrated with 38%, just less likely to succeed, so miners saw the danger and acted accordingly... not that same pool is way under 30%).  I don't think a 51% is LIKELY on NEXT but it certainly is possible given the concentration of the forging power which is evident just taking a light look at the top holding wallets.

What makes this a total scam is not just the outrageous distribution problems but the obvious -and inevitable- manipulation of the market. I mean these guys could be saints and still not being able to NOT manipulate the markets with the amounts they hold by, first, being unfairly rewarded via forging and second and way more importantly, by the inevitable effect of their selling. These are new minted millonaires. They NEED to sell in order to buy homes, cars and all the perks of being new millonaires. Simply by selling small (orderly, is the word) portions of their collective holdings, will keep the price unrealistically lower -thus hurting later investors, traders, and the coin itself-. therefore MANIPULATING it. And that is if you assume they are simply new rich, not greedy, actually saintly people without any further, let alone perverse, intentions, in which case the manipulation could have grotesque effects.

Insufficient distribution, which is the problem here, in fact doesn't allow the market to actually reflect, as it should, offer and demand, because the massive (albeit "orderly") selling does not allow the demand for the coin to bring the price to realistic levels. In other words, where tens if not hundreds of people want to buy, only one or a few NEED to sell. I am, in fact, extremely surprised this coin has reached the valuation it has considering this circumstance alone. The restrain of the top holders in selling is baffling, actually. And, in my view, impossible to keep.

It does blow my mind, in fact, if the founder doesn't own any coins. I don't believe you in that one either. Nor when you state that the devs "don't control any significant portion of the coins". But since there's no way to prove it either way, I guess we will have to just leave it at that.

Hey if you are happy, I'm (disappointed), but happy.

Very easy: in and out. Hopefully playing with the crooks...

Well, now that I am aware or your activity and projects in the AE, of course I wouldn't expect you to do anything but what you are doing here (i.e: Bullshitting). You have scams or your own going on, I understand...

I don 't think the BTC model of distribution is, number one, a mirror to follow and number two, anything even remotely similar to NXT which, by design, was IPO'ed to a few stakeholders ONLY.

BTC has been around for 5 years in which, either through mining or investment ANYONE could have accumulated millions. Thatg it did nothing really until a year ago or so, guaranteed proper distribution and no scam whatsoever. That is its great VALUE. No one can put any blame on the rewards of somebody that mined and bought through thick and thin. That's VISION as opposed to SCAM, clear?

And, still, once the above is quite clear ONLY, the distribution is way wider than that of NXT, currently and before.

Well, normally I would ignore such idiotic response with shouts and obscenity totally uncalled for, but since you insists... I actually hadn't see your "answer", so not selective at all.

First, I have been informing myself... and finding out my initial suspicions were not at all far from the reality.

Second, no I am NOT saying the top 20 wallets control more than 50.1%, they control almost 1/3. I am not just saying that, it is  FACT available to anyone.
That you consider an alliance of 20 "people" (it would be wallets, which not necessarily mean different "people controlling them, you get that, right?) "ridiculously hard" is simply quite funny... especially considering that those purported 20 people would be the club of multimillonaires that awarded themselves the totality of coins to begin with. More or slightly less, to be quite precise. You, of course, would find "ridiculously hard" to believe that there are organized "investors groups" ALREADY inside some coins, controlling every aspect of it. But, by their own admission, publicly, they exist.

Now you want to know why would they "do that" (I assume you are asking why they would perpetrate a 51% attack). The obvious answer is to get ALL your coins. Would a 51% attack necessarily, kill NEXT? I don't believe so. Just some owner would have ceased to exist. The coin and the platform, going nowhere. Less owners, in fact = more value. Why would they lose anything? Oh, you believe that by that people would run away from NEXT and it's value would be dumped to "0"? Why? Many more applications and uses are brought in every day, why would then NXT be valued less, just because some people, minimal people in investment, whatever their amount in numbers, claim to have been robbed? They would just say it was a massive hacking and that's it. The coin would trade higher a week after the attack.

Will they be happy with their millions and not perpetrate such an attack, that stands to reason, why not. By now they have millions of dollars in their pockets already, and still more millions growing in value here, so there's a common sensical opinion, that obviously you share, that why would they want to do anything else? Well, is history and human nature have taught us anything in thousands of years is that many people do quite irrational -or damaging- thing simply because they can. Especially if there;'s no accountability and riches to be gained.

After all, 6 million dollars is a lot... only when you don't have close to that. When you do, it isn't that much. And it goes real fast too.

I appreciate -as posted- the fact that you are obviously a bright kid with some entrepreneurial ideas that may some day have merit and find proper compensation, maybe not too far down the line. I definitely wouldn't bet against your potential, that's for sure.

That said, if for nothing else but having been there and done that many times you should leave some opinions to your elders. I did not called you "fan boy" as an insult, but as an state of fact. That you, at 16, agree or not agree with other people's opinion, you will understand -in about 10 years, maybe not before- it's moot, irrelevant and simply absurd.

I hope you take from this what you should and not take it as a personal attack. After all, there are others, many here, pushing 30 that have much less to contribute and much more to detract from BC than you do.

Just keep on learning.

Indeed it is. But people have personal projects, needs, etc. That's why, as you point out, they are getting out of their millions of dollars positions "orderly". This "orderliness", of course, holds the price down which, in  turns, hurts the minor investors that don't see their investment grow and also hurts the coin appreciation for it becomes "boring" and doesn't attract traders and new investors, all of which is perfectly legit and goes with the territory when a coin has the humongous distribution problem that this one has.

But the foreseeable big problem is not just the distribution itself, bad as it is. If just a few of these big holders get together -assuming they are not in it together already, what could possibly stop them for perpetrating a 51% attack and take ALL the rest of the coins? Remember, there's absolutely no accountability in crypto...

From one scam on to the NEXT. Right.

But I just was considering jumping on this one heavily with proceeds from the other. Now it won't happen, of course.

so I'll leave you with it, no further engagement at all.

I have no idea, nor I care for it anyway.

Oh and I would dearly love to be able to make NXT look good.

Unfortunately, no one can, I now realize with some degree of despair, I have to admit.

I thought I had found the NEXT thing in crypto and just found another scam in progress, a very successful one indeed already.

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....