The code is only part of it.......look at the scams carried out using BTC code, or even NXT code. Code is neutral, like a weapon. There's obviously a difference between functional elegant code, and shitty bug filled garbage, but the quality of BTS code is not in question here: the issues have more to do with the business built up around the code. BTS claims to subscribe to a libertarian philisophy, but then behaves as a dictatorship. As with DE, I've followed BTS for a long time, and I've completely lost any form of serious faith in the project. It looks to me, these days, that BTS have lost their way, and are now reduced to pumping vapourware (the 100,000 TPS blockchain) while copying features from other currencies (BTS Exchange Network = NXT Asset Exchange)). The thing I love about BEN (in a nasty, sarcastic way...  ) is that BTS used to be against the idea of a completely open asset issuance system, but were going to concentrate on building qualitatively superior DACs, rather than allowing absolutely anyone on board, as with the NXT Asset Exchange. Yet now BEN is one of BTS major selling points......and is still vapourware, as is the 100,000 TPS "BTS 2.0 industrial strength" blockchain. |
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Because it was a total scam, maybe ? UFun started out as an AMway-style "scam your friends, and pay for it" pyramid scheme, then began to issue UToken as a method of scamming even harder. UToken was never actually a crypto-currency, btw, read the UFun FAQ: http://www.ufunclub.biz/f-a-q/A cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Cryptocurrencies are a subset of alternative currencies or specifically of digital currencies. Utoken does not fall under a crypto currency. There is some mis-information spread around the web with regards to Utoken being a Cryptocurrency. By the end of this post we hope to clear this mis-conception once and for all. Let us make it clear from the outset – Utoken is not classified as a Crypto Currency and in fact does not even appear in the Cryptocurrency index:http://coinmarketcap.com/ What is a Cryprocurrency? The best definition for what makes a Cryptocurrency can be taken directly from Wikipedia ( http://en.wikipedia.org/wiki/Cryptocurrency ). To take an excerpt from that page, a Cryptocurrency is “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank” The excerpt above immediately tells us what a currency like Bitcoin is and what a currency like UToken is not. For instance, Bitcoin is encrypted and actually created using a technique called mining. Back in the “olden days” to make a Bitcoin you would download a program onto your computer (a mining program) and “rent out” your computer resources to third parties. In return, you would be paid for your computer resources with an encrypted form of currency – the Bitcoin. On the other hand, aUtoken is not generated through any mining device and so no encryption is required. So, nah, UFun/UToken is complete BS. |
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Much agreement with NorrisK ^^ Rofo seems to be a genuinely straight, honest developer, and I've always liked both Noble and NOXT as projects. Love to see Noble/NOXT doing better; it pisses me off that solid, legitimate projects like Noble are losing out to flavour of the week scams. But at least they are still in the game....  |
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The value of a coin is attained from how well that coin serves its intended purpose. Bitcoin serves its intended purpose (transaction network) well so it has value, NXT on the other hand does not have a set purpose. What is NXT trying to do? Challenge bitcoin? Become king of POS? Until NXT has a clear purpose and people use NXT for that purpose NXT wont gain real value.
Here's an example of what you can do with NXT: http://cointelegraph.com/news/114814/greek-island-trials-digital-currency-solution-to-boost-economyNxt (the technology) does have a set purpose: to provide a set of tools that enable crypto-currency users to create their own projects. NXT (the currency) is simply the fuel to power the Nxt system, and it will inevitably gain value as more projects utilise the Nxt blockchain. |
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Take a look at the Dash trading figures: http://coinmarketcap.com/currencies/dash/#marketsNo sign of any serious CNY investment in the last 24 hours. All of the Chinese pumps recently have been driven by CNY markets (BTC-E, BTC38, Yubi, BTER...) and this rise is all BTC on Cryptsy. Unless China starts moving in soon, I expect a large price adjustment. |
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Kodtycoon as evil mastermind ? And a NXT whale ? Finding that hard to believe, tbh. As you might have noticed: Price Speculation is the most active thread on NXTforum, because it gets used as a general thread for some reason that is lost in the mists of time.....NXT wierdos https://nxtforum.org/general-discussion/price-speculation/23960/Most of the thread has bugger all to do with price speculation, really. Anyway....back to Greece. |
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Ripple should not be on CMC in the first place
Yeh, but if your gifted a few million xrp you can forget about some things Can I have some ? I might forget what a crypto currency actually is.......  Go, little Litecoin, go ! |
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Why you keep telling people not to buy NAUT? Come on Dave, I think everyone should buy NAUT and hold on to it tight. Not for pumping purposes, but to enjoy the ride and feeling like to be part of the project... I think people can start donating as well for the island... There is this dev fund, please donate if you want to help. Cheers.
PS: Once this project take off (CNBC, news, world and wall street will be talking about it), soon, a lot of strong investors around the world will join in NAUT. Can you imagine? They dont easily sell at profit, which will make the price stabilized with a small fluctuation. And market cap will probably compete with top 6 coins... Mark my words. And the project is near! So buy while it is cheap and hold on to it. Dont get tempted to sell... You will regret.
Hmmm....good question, H. What concerns me, and should concern everyone, is the danger of the Drachmae project getting hyped to a point where people have unrealistic expectations. We've seen it happen with NEM recently: a section of the NEM community massively hyped up the launch. I saw posts literally promising people $15,000 per NEMstake immediately after launch, which was simply impossible to predict (and very unlikely). But people bought in on the hype.....and then got disappointed almost immediately when NEM failed to go 'to the mooonnn!' and then got further pissed off with what they see as slow development. There are plenty of other examples: how would Paycoin have developed if Josh G. didn't make the ridiculous claim of a guaranteed $20 price floor ? It's always better to promise low and deliver high, so my advice to potential investors for NAUT and Drachmae is to wait and see. There's still a lot of organisation to do before Drachmae goes live, and the situation on the ground in Greece could change beyond all recognition in the next month. @HeroCat: Most of the payment systems will run via an SMS gateway initially.......so no extra hardware or advanced tech needed. Everyone has an SMS capable phone. @solid12345: Yep, +1. It is a pretty small municipal government, though  |
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First: welcome to crypto, mate.  Second: trust absolutely no-one. Especially someone who's giving you investment advice. Third: Do your own research. If you spend a month working 9-5 studying up on crypto-currency, you will have a good idea of whats going on. Fourth: trust absolutely no-one. It bears repeating, there are lots of traps for the new guys. (If you really feel the need to invest right now: go for BTC as the bulk of your portfolio, with some top 10 alts for variety and excitement) |
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Ooohh, Hazard. That's a bit harsh, tbh, there's a lot more to the Drachmae project than just NAUT. BUT: you are kind of right. People should not buy into NAUT right now. Really. No-one involved wants this to turn into another pump and dump exercise. Wait until NAUT is actually being used in Greece before throwing your hard-earned cash at it, and even then, be suspicious and do your own research. |
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Btw the town will also be adopting NXT and Supernet as well but I don't see anyone bitching about that.
This was the expectation: either Nxt or a token created with the MonetarySystem but it's still unconfirmed, the news of Nautiluscoin has been a total surprise for Nxt community. Its relation with Nxt, if any, is still a mistery. The guy behind this project has promised a lot more news but for now there are more questions than answers! I'll admit it comes as a surprise to me, I was led to believe BK had abandoned Naut and was instead propping up NXT now, but to me he finally did good on his investors in finding SOME use case for the coin unlike alot of devs around here who cut and run when things don't go their way. Emmm.....I've been vaguely involved in the Drachmae project from the NXT end, and had some contact with the NAUT community. I don't know all the ins and outs of the project, but BK hadn't/hasn't abandoned NAUT. He had been keeping a low profile around NAUT until a role could be figured out for NAUT in the overall project, which is now being announced: the use of NAUT as a currency in the test run for Drachmae on the island of Agristi. There's still lots of stuff to be worked out, so stay tuned. |
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He left out the part where NXT is a shit ipo scam coin that was distributed to 70 people.
and that's being recognized by people outside this small world on BTT, by people who aren't jealous like you. yes I'm jealous of nxt and it's $ 41,117 in 24 hour volume. you can't polish a turd el dude - the bearer of truth
More FUD, please, el Duderino.......you picked a lousy moment to start ragging on NXT:  The distribution argument against NXT is full of jealousy and envy.....I've spoken to many of the original stakeholders, and they are just a bunch of random crypto/BTT people who made one very good decision. Sure, they got lucky, but it could just as easily been me or you or even Taunsew, if we'd had enough sense to invest in the initial NXT IPO. The IPO, btw, was not exactly a secret: it ran for 2 months on this forum, open to all. |
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@newmine: I've been there. I've lost a lot of faith in BTS over the last few months. (not that I ever had enough faith to actually give Dan+Stan my hard earned cash, but still...) My impression is of a good community/project that is being slowly pulled off the rails. |
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Premine scam. That's why!
i dont get it.. why? It was an ICO which sold to about 25 people for 1 btc or so each. So only 25 people held all the coin in the beginning and still to this day. It's fricking amazing that people can still believe this stuff, even now. NXT has been running like a clock for almost 2 years, and has been trading good volumes ($300,000 today) on pretty much every alt-coin exchange for most of those 2 years. Trying to claim that it is all in the hands of 25 people after all that trading is like denying the Moon landing happened. But, people are free to believe what they like, despite the evidence. I'll choose to believe that #6 position right now ain't a bad place to be....:  |
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Profits are nice, but decentralisation is essential.
Or at least as little centralisation as possible: Erik V makes a good point that coercive centralisation (when users are given no choice) is a very bad thing, but that market based centralisation (because users choose the best service/platform) is almost unavoidable.
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Says the dude wearing his coin as a hat...... |
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I think I'm getting a headache.....  |
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