Don't spend it, the purpose is to keep it offline and by spending it you're putting your private key out there.  I wouldn't re-use a paper wallet either, just make another one.

All good tips.  I doubt the OP will listen though, most people are here to get rich quick and he thinks everyone is making $10k a month and the train is passing him by. 

You can love the tech and still hate the distribution.  The tech is easily copyable, it's not like Nxt has any sort of significant market share or user base yet.  Right now I see the tech as interesting but the whole IPO process is really dodgy especially since the guy who created it has run off.

If by get something you mean Nxt, then no.  Your chances of forging a block are a fraction of a percent and even if you hit the jackpot, it's likely you'll forge a block with nothing in it. 

Maybe if the guy with a lot of Nxt starts (or joins) a pool and doesn't take a share you'll get something out of it but that would really be the only way.

Because it is a highly illiquid market.  You won't find enough buyers at that price to "dump" the coins on.  These initial 70 are sitting on a mountain of coins that on paper, are worth a tremendous amount, but it's only on paper.  Try to flood the market with all those coins and lets see what price they actually get.

You lease out your Nxt to someone for a stated period of time (expressed in blocks).  You still have full control of your Nxt but you relinquish your forging power to the pool.  The combined amount gives you greater success of forging a block and the reward is then divided amongst the group by your % contributed.

Each pool would set up their own rules like any fees and such so what I'm saying is just a broad overview from my understanding.

Well, first life isn't fair.  The sooner you learn that the faster you'll succeed.  PoS or PoW, doesn't really matter, those that put in the most will get the most out.  You're either spending $$$ on mining equipment or the actual crypto.

As for a solution, band together and lease out your Nxt.  I haven't tested it yet (anyone got a good pool?) but I like the concept.

Thanks for the correction.  I'm also thinking the timeframe is closer to 2 days to hit 1440.  It's been almost 2 days and I haven't hit 1440 yet.

You can start forging when you reach 1440 confirmations.  Technically with confirmations every minute you should hit that in 24 hours but I think confirmations aren't quite that fast so it may be a little longer than that.  I'm hearing 1.5-2 days.  So long as you're connected to the server you will be forging.

You're doing things the right way.  I think the fallacy that some use is trying to compare a 2nd generation crypto to Bitcoin.  You simply can't do that because Bitcoin has a 5 year headstart.  When you're first to market you can get away with a lot of stuff that you cannot when you're trying to build upon that core infrastructure.  All these people using "Satoshi did this" or "early adopters own x" is just spinning their wheels.  You cannot be late to the game and expect to be afforded the same luxury as something that broke ground.

The entire goal right now is to entice people to use Nxt.  And you do that by giving them the opportunity to test it.  Luckily people like you and Damelon get that. 

Thank you.  I was going to write something along these lines but you saved me the time.

You miss my point entirely but if you haven't gotten it by now I'm not going to waste the effort to try to explain it to you.  Can I live with "Bictoin" adopters becoming "millioners" last year?  Look at how long I've been around.  Yeah, I think I can live with that pal.

It appears that the artist does not sign her work, why is that?

Buy on the rumor, sell on the news.

I think therein lies the catch-22.  It's a Proof of Stake system, so you want to hold but holding does nothing to gain more adopters (which is really what you need otherwise you're just 70 guys holding worthless code).  I don't see it as shares in a company, shareholders derive value from their equity interest in the performing assets of a company.  Nxt is the performing asset.  

This is why I used Ripple as an example, whether you want to call it a pre-mine or not, that's just semantics because that's just what it is.  You have a small amount of stakeholders who hold the lion's share of Nxt with the intent of having the Nxt appreciate in value.  However, the only way for it to appreciate in value is for others to adopt it and the only way for others to adopt it is to relinquish part of your share.  Nxt isn't created out of the air, where does it come from?  The stakeholders.

You can assign any value you want to Nxt but without people there's no liquidity.  There's no market.


That's probably step 1, you compensate people who can help with the infrastructure.  However, as I mentioned time is not on the side of alt-currencies.  Time is of the essence so you're probably better off paying developers and spreading out Nxt to new users so that they can test it, tell their friends about it, find bugs, etc.  So you give out a million coins.  There's still 999 million left.  This is why the faucet is so ridiculous and I'm glad that it's being looked at.  They should be giving it away by the bucket full right now because a million users will do a hell of a lot more than holding onto that .1%.

As for the activity, it's totally meaningless.  A stakeholder can easily set up multiple accounts and transfer Nxt to themselves giving the appearance of activity when in actuality there is none.  

This is the basic thought process of every newbie that comes in here.  I missed the train so I'm going to jump on <inset alt-currency here> and get rich.  The problem is that all of these alt-currencies are significantly behind Bitcoin in terms of adoption, infrastructure, development, just about everything.  That's not to say someone can't build a better mousetrap or that Nxt can't compliment or replace Bitcoin, but your valuation has no basis in reality.  The reality is all of these alts face significant headwinds because they are far behind in the game.

My point was that when you're playing catchup, sitting on your hands holding your coin isn't really the smartest move, IMO.  You get it out there quickly and to as many people as you can.  Like I said, it's their money and their prerogative.  And it's your money so feel free to spend as you wish.  Me personally I don't really feel like giving my personal information to some company in Panama that I've never heard of.  To each their own.

I just want to test the system and do my own due diligence, and now thanks to sparta, I have that opportunity.  The Nxt received will be repaid or paid forward.

Much appreciated.  I have an account, the number is:  17353422140744959965

Once I'm able to get a feel for the software and the forging process, I'll return them to you.

No, I see the differentiation between stakeholders and Nxt and you're quite correct in that it's their prerogative whether to give away or not.  I just think it's in their best interest (and Nxt) that they do so.  When you're in high competition, as all alt-coins are, the more users you can gain the better.  You're not going to gain very many users by tightly clutching your Nxt.

I'm glad you see the shortcomings of the faucet and are working on a solution.  This is a good step in the right direction. 

Exactly.  But this won't happen unless the 70+ initial investors open up their purse. 

Ripple I feel is a failed experiment but I still think they gave away enough to at least let early users test the system.  If you can point me to where Nxt distribution is "getting better" every day, I'd be glad to see it.