zerothegreat,

I am sure everybody understands there are risks. There are no places to put your money without risks. I am not advocating that everybody should sell their homes and buy NXT with the proceeds.

As long as people understand what NXT is and have a proper timeframe, measured in months or even years, and that there are risks, that is what is important.

Best to underpromise and overdeliver.

The purpose of all investments is to make more money, or at least protect it from devaluation. I have not seen anywhere anything to the contrary. People tend to want money because it is money. NXT community is not purely profit driven, as there are many volunteers who are putting in a lot of hours, relative to their stake size. A lot of us feel that we are part of something big, something that will transform the world for the better. To some, that is more important from money, but money is good too.

James

landodata,

sorry got confused as to who was whining

As a community we want intelligent people who understand the long term picture of what NXT is. There will certainly be bumps in the road, both from internal and external issues.

NXT is a totally new code base, not just a cut and paste of bitcoind, anybody that thinks there won't be any technical problems is an optimist. Possible certainly, even likely, but we all need to be prepared for some bugs as the dev team keeps integrating more and more features on top of each other.

James

user1922,

Do you believe that NXT currently has namecoin functionality?

If so, what discount to namecoin should NXT be trading at. Certainly a case can be made for a discount due to network instability, alpha software etc. What premium factor should NXT have.

I would like to understand your math regarding what the proper value of NXT should be. Start with namecoin market cap, discount based on unproven nature as of now, premium based on potential.

Please show me the math.

James

P.S. We can't help that BCNext and his team keep adding incredible value at an incredible rate. If you hit an oil gusher, do you complain about how much oil is coming out and that it isn't fair since you only spent a little money on drilling? Stop being emotional and start being logical.

landomata,

just what exactly is happening when NXT is sold, via forum or exchange?
If that is not distribution,what is?

Are you expecting a handout? I think there was someone giving out thousands of DOGE or some such coin. Why not go ask for some handouts there?

NXT is a serious coin, it will be sought after by value investors since NXT is the first crypto that has dividends built in. If you want handouts, beg for DOGE/CAT, etc. If you want a long term growth investment that pays dividends along the way, just buy some NXT now.

Prices are still significantly below what they will be, at least if you believe that NXT will actually do the things it claims it will do.

Read, learn, decide, act. If you don't like how NXT was created, you can create your own version in a few months and you can just get all 1 billion yourself. NXT is far more than some random coin. In a few weeks enough people have understood this to push its value and volumes to be close to namecoin. Since it has namecoin functionality,this makes sense.

Since you don't like how NXT was created, why not put your money into namecoin. Just don't complain when namecoin doesn't keep adding new features everymonth, but at least you get to rest easy knowing the petahashes being wasted on making new namecoins.

James

user1922, trefifund, etc

How is it that BCNext's giving away millions of dollars worth of software somehow turns the lucky founders into greedy people?

If you are given a winning lotto ticket for $1, how would you feel if people started calling you greedy because you don't sell it for $10. After all that is 10 times gain of what you paid, certainly more than fair isn't it?

What, you would want to get more than $10? Let's say it is worth $10,000 how much would you sell your ticket for? What does it matter what you paid for it? It is worth what it is worth. BCNext created the value so it was his to give away. The founders received it and the vast majority of them have been doing a fantastic job not only selling it at below what they know it will be worth, but actually simply just giving it away. Not to mention totally disrupting their lives. They never realized what would happen when they sent the 1BTC in.

For anybody who complains that the founders aren't selling their NXT at ridiculous discounts to what it is worth, please tell me what you would sell a $10000 lotto ticket for, the one you were given by someone else for $1.

James

newcn,

you need to ripple send to the exact address given to you on the page, including the ?dt=...

James

newcn

Did you do a ripple send to ra9eZxMbJrUcgV8ui7aPc161FgrqWScQxV?dt=12 the NXT you want to withdraw? That is peercover's address, in order to withdraw the ripple NXT you have to redeem it by sending it back to peercover. If you don't send it back, there is nothing to withdraw

James

To everyone's delight, I am about to call it a night, though the street party in Montevideo is going full swing at 4am! Big change from the calm and relaxed Punta del Este of the last few days.

Anyway thanks to aldrin for his support of the non-founder dividend,
we also now have a small NXT strategic marketing group forming (more volunteers welcomed) and I am also looking for a volunteer who has stock analysis experience and/or someone with a real world brokers license, not to actually use, just for the experience. I want to make sure NXT has an investor relations group.

Like it or not, if we want the world to buy NXT, we need to make sure it is a good investment. I am advocating a Warren Buffet style fundamental investors. This alone will set NXT apart, but one the value investors start investing, we will see stable price growth. Not the crazy rollercoaster ride the speculators give us. Remember the value investors only buy when they see value, eg. discount to fair market value. This means if the price dips below what it is worth, the value investors come buying. They won't drive the price up to unsustainable highs. Slow gradual price appreciation that is sustainable does all of us much better than crazy high spike and subsequent correction.

G'nite all from Uruguay today!

James

newcn

If you notice the ripple address you are to send it to has a ?dt=<number>
That number is how the peercover server knows to send it to the NXT acct you put in
All fully automated, except for the part where you have to send back the ripple NXT to redeem it

James

newcn,

After you click on withdraw it should show you a ripple address to send the NXT to. You just send it using the ripple wallet's send function. Peercover automatically knows that it is you that is sending it and it will convert the ripple NXT balance to actual NXT in your NXT account.

There will be status emails that notify you of start and completion of this process

James

wiser,

NXT is not even in beta release yet! It is alpha and not ready for the masses, yet.
Jan 3rd is the beta release date.
I doubt that will be ready for mass market consumption.
Being an early adopter has its costs. You are not missing out on a lot of forging revenue, so you could just wait for a double clickable end user installer. Not sure how long the wait will be

James

zero

am glad just a terminology thing. I can't help what Buffet called his methodology. I am using it to specifically mean the securities analysts meaning.

James

ZeroTheGreat,

Have you read Fundamental Analysis? Have you followed Berkshire Hathaway?
I mean fundamental value using Buffet's definition of lifetime future cashflows. Are you saying that NXT has no forging payouts?

If NXT has forging payouts, then it has future cashflow. The only issue and maybe this is what you are saying that since the payout is in NXT, that all future cashflows are potentially without value? I admit, I haven't worked out the conversion from lifetime future NXT to lifetime future cash, but since we are mapping NXT to fiat and we all know what fiat is actually worth, I think there is most definitely a non-zero mapping of lifetime future NXT from forging to fiat.

I am talking about math here. Not opinions. What is your math that says that there is no fundamental value to NXT forging?

James

Wiser and Newbie
I had all the same problems until I modified the xml file in the root subdirectory. There is a list of host IP addresses, not sure of latest one as I am on my travel laptop, but you put that in. Restart and it worked for at least 3 days before the memory leak killed it. Jan 3rd should have the 4.8 release with bug fixes to make it more stable.

James

Zerothegreatest,

NXT does have fundamental value. It is the first crypto that pays dividends. Please do not underestimate this. To a lot of investors anything that doesn't pay interest is a speculative growth stock. Nevermind mind companies like MSFT, GOOG, etc all start as the speculative growth stocks without any dividends.

NXT is paying out dividends however small right from the beginning.
Yet, I had to figure this out on my own and between fighting with rewinding blockchains, memory leaking java clients, etc. I could have easily missed the significance.

If we want NXT to achieve bitcoin marketcap, does anybody want that?, then this is the way to go. I know I am not the smartest guy around, especially on a forum like this and I would love to hear any other differentiating feature of NXT that will pull in BIG investment money from long term investors.

Please we need something. Anything is better than nothing and first interest paying crypto is a pretty good start. Please help improve this. We are distributed. No structure so the best idea wins. My idea is to present NXT truthfully and conservatively.

I do not want a roller coaster ride on the NXT price.Too much stress. Ideally it goes in a straight line from where it is to its future price. Unfortunately that is not possible. So let's copy Warren Buffet. I am just telling everyone what he already did. He also wanted long term investors. He didn't want the speculators. So he simply published what he estimated the value of his company shares. The market didn't often disagree with his estimate. Reading the Berkshire Hathaway annual reports is a treat.

So if we all concentrated on maximizing the lifetime future cashflow of NXT forging, that will reflect in our estimated valuation of current NXT, which in turn will prevent speculative bubbles.

NXT, the crypto Warren Buffet would invest in.

James

damelon,

I am not trying to overreact, I am trying to patch a hole in the NXT story that is told on the wiki and everywhere. Nowhere does it mention that BCnext basically gifted millions of dollars to the founders. While it might not bother you, all it takes is for it to bother one writer at a major outlet and all of a sudden a million people are convinced NXT founders are greedy.

WHY do we need to take that chance when all we have to do is add the BCnext donation to the current story. It is true isn't it?

With a starting baseline in the millions, it is similar to a VC backed company that hits the bigtime with an IPO. Make the founders like the employees of an IPO with multimillion dollar backing. That is a much more believable story than 21 BTC turning into 100 million market cap. That is just such a large percentage that the yuris of the world will latch onto it and what good does that do us?

Please just update the wiki and we can change the conversation to all the other positive things as I doubt the "greedy founders" rhetoric will get much traction, especially if the approve the non-founder dividend.

I've been involved with Ripple and before they got their WCG giveaway, they had a lot of the same issues. Now they are helping to cure cancer and AIDS and the complaints about their proof of stake origins are much less. NXT needs to change the current way it explains the genesis event

Think of it as a bug that just needs to be fixed. Please fix this bug, wiki peoples.

James

Has anybody heard of Warren Buffet? He wrote the book Fundamental Analysis. Not exactly a page turner, but he did all right following the principles in his book

In my opinion all of the NXT tech is fantastic no doubt, but what really sets it apart is that it actually pays interest. I have been lucky enough to forge a few blocks and it was when I actually saw new NXT appear in my account from forging that I realized how BIG NXT WILL BECOME!

What is the most money people have made from bitcoin other than from buying or selling it? ZERO, 0%, nothing, nada, zilch. The fundamental value of bitcoin from a fundamental analysis basis is, zero.

NXT is currently paying out a super small percentage and I haven't quite figured out what its real world normalized interest rate it. Since forging revenue is paid in NXT, it is like an automatic DRIP (dividend reinvestment program). this means that the interest will compound. More importantly the upcoming releases will dramatically increase the transaction fees and the effective interest rate.

I want to position NXT as the first crypto that has a positive yield, of course need to put it into laymans terms. this means NXT is the first and only crypto that Warren Buffet would consider investing in, though he did buy something like 20% of the world silver supply, so he must have his exceptions.

NXT fixes all of bitcoins flaws. It is wonderful. Its potential is like the potential the Internet had back when all you could do was send email on arpanet. NXT implements a low level protocol that allows application layers to be built on top of it and run in parallel with each other. Each application will add more transaction fees, which increases the fundamental value of NXT.

I would like to suggest to nexern that he update his blockchain explorer page with the most recent fundamental value that we calculate. This is a critical first step toward establishing NXT as the crypto for everyone to invest in.

James

Is anybody familiar with the marketing concept of positioning? It is what big companies spend millions of dollars to achieve the top spot in a ladder of products. I say cola, you say either Coke or Pepsi. There are probably dozens of other colas, but those are the two that people automatically respond with.

This is no accident. Hundreds of millions of dollars have been spent and sometimes misspent, remember New Coke, just to get people to remember their product.

NXT needs to establish the top position in a strong positive category. I have a plan on how to achieve a very powerful position for NXT that will allow it to eventually exceed bitcoin's market cap. I would think that most people reading this forum would kind of like that. However, I get the sense that maybe the community wants to just focus on the tech and not bother with messy marketing stuff.

I would love to be able to work 100% on NXT, but it seems that the community doesn't feel like it is important or maybe I am not the right person, then somebody else do this. NXT needs marketing focus or it will be the best crypto that the public doesn't want.

James

P.S. utopianfuture, following this thread is taking up all my available time. Unless I am able to spend fulltime on NXT, I doubt I can expand my scope.

utopianfuture,

got the doc and it is great! A lot of PR potential from this and I want to be able to be proactive in communicating all the positive things NXT is doing, instead of being defensive.

Who is maintaining the wiki? What would it take to change the text to reflect what I am saying? Does anybody disagree violently with my interpretation? Does anybody agree? Does anybody care?

James

newcn,

NXT is not in the dropdown, so you have to manually type it in. it is casesensitive. Also please understand it is still under beta test and there are not too many offers active yet. Soon there will be as so far everything appears to be working fine.

James