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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 10:33:51 AM
PROPOSAL:

Implementation of the following PROOF OF BURN:  https://bitcointalk.org/index.php?topic=422309.0;topicseen  FOR NEX

Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional LV1 coin per week for every 1,000 LV1 coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 LV1 coins, you will receive roughly 50 LV1 coins, or 5% per annum. Doesn't seem like much? Keep reading.

Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?

This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:

Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.

Nothing like this has been tried before and should the system work as planned, any founder will see an enormous return on investment. There is very little incentive for users to "pump and dump" or to flip in and out. This coin caters more towards loyalists, and considering that there will not be botnets nor ASCI's to deal with, everyone will have an equal opportunity to take part. The system is built around simplicity. Have you noticed how all new self proclaimed "next generation" currencies are getting more and more complex, both in their algorithm and distribution methods? There is no need for that, and Levelcoin aims to prove that. Google had the right idea by creating a simple search engine, and look where that got them!

Those who have faith in the currency and are in it for the long haul will reap enormous benefits from burning their LV1 coins to obtain LV2 coins and then selling the LV1 coins obtained via interest on an exchange that will likely be proprietary. Or they could choose to burn those new coins and compound their interest while at the same time creating scarcity for LV1 coins. The choice is yours. There will always be demand due to the fact that LV2 coins can not be obtained in any way other than by the purchase and burning of LV1 coins.


In summary,  this looks like an excellent idea.   Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins. 

This proof of burn functionality is superior to the 'forging' feature of Nxt.




FRICTIONLOSScoin: u r very genius. I love this idea, burning so much better than forging. I tell all people sell NXT, come 2 NEX.


FROICTIONLOSSCoin: I want to help u with NEX. I am very skill with PhotoShop, so I help make graphics for NEX.

Look:



I make more soon. Go, NEX, go !!
NXT is very high now, but soon it will fall and NEX will win!!
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 10:24:20 AM
PROPOSAL:

Implementation of the following PROOF OF BURN:  https://bitcointalk.org/index.php?topic=422309.0;topicseen  FOR NEX

Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional LV1 coin per week for every 1,000 LV1 coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 LV1 coins, you will receive roughly 50 LV1 coins, or 5% per annum. Doesn't seem like much? Keep reading.

Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?

This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:

Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.

Nothing like this has been tried before and should the system work as planned, any founder will see an enormous return on investment. There is very little incentive for users to "pump and dump" or to flip in and out. This coin caters more towards loyalists, and considering that there will not be botnets nor ASCI's to deal with, everyone will have an equal opportunity to take part. The system is built around simplicity. Have you noticed how all new self proclaimed "next generation" currencies are getting more and more complex, both in their algorithm and distribution methods? There is no need for that, and Levelcoin aims to prove that. Google had the right idea by creating a simple search engine, and look where that got them!

Those who have faith in the currency and are in it for the long haul will reap enormous benefits from burning their LV1 coins to obtain LV2 coins and then selling the LV1 coins obtained via interest on an exchange that will likely be proprietary. Or they could choose to burn those new coins and compound their interest while at the same time creating scarcity for LV1 coins. The choice is yours. There will always be demand due to the fact that LV2 coins can not be obtained in any way other than by the purchase and burning of LV1 coins.


In summary,  this looks like an excellent idea.   Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins. 

This proof of burn functionality is superior to the 'forging' feature of Nxt.




FRICTIONLOSScoin: u r very genius. I love this idea, burning so much better than forging. I tell all people sell NXT, come 2 NEX.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 10:15:54 AM
PROPOSAL:

Implementation of the following PROOF OF BURN:  https://bitcointalk.org/index.php?topic=422309.0;topicseen  FOR NEX

Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional LV1 coin per week for every 1,000 LV1 coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 LV1 coins, you will receive roughly 50 LV1 coins, or 5% per annum. Doesn't seem like much? Keep reading.

Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?

This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:

Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.

Nothing like this has been tried before and should the system work as planned, any founder will see an enormous return on investment. There is very little incentive for users to "pump and dump" or to flip in and out. This coin caters more towards loyalists, and considering that there will not be botnets nor ASCI's to deal with, everyone will have an equal opportunity to take part. The system is built around simplicity. Have you noticed how all new self proclaimed "next generation" currencies are getting more and more complex, both in their algorithm and distribution methods? There is no need for that, and Levelcoin aims to prove that. Google had the right idea by creating a simple search engine, and look where that got them!

Those who have faith in the currency and are in it for the long haul will reap enormous benefits from burning their LV1 coins to obtain LV2 coins and then selling the LV1 coins obtained via interest on an exchange that will likely be proprietary. Or they could choose to burn those new coins and compound their interest while at the same time creating scarcity for LV1 coins. The choice is yours. There will always be demand due to the fact that LV2 coins can not be obtained in any way other than by the purchase and burning of LV1 coins.


In summary,  this looks like an excellent idea.   Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins. 

This proof of burn functionality is superior to the 'forging' feature of Nxt.




FRICTIONLOSScoin: u r very genius. I love this idea, burning so much better than forging. I tell all people sell NXT, come 2 NEX.
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 08:31:03 AM
Yes, NEX must help stupid people. Scam coins very bad.
5  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 08:18:13 AM
42 pages? Seriously?

Yes,  we r very serious. FRICTIONLESScoin is genius, make all fair now.
NXT bad coin, no fair. NEX good coin, fair for all peoples of the world.
6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 06:45:33 AM
Download client software, but it does not work.
I click on file, window opens, but there is nothing, no coin.

Where is coin, bitches?

I want help, show me how install and get coin.
NXT very high now, that is bad.
7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] NEX :: descendant of NXT - Imagine Fairness! on: January 21, 2014, 12:38:39 AM
MUCH INTEREST

sold my NXT today. Distribution just too unfair. No distribution will ever be equal or completely fair, I understand that.
But ending the IPO early is a common insider-benefits con. Everyone should understand this. There is artificial scarcity because while there is 1000 users interest in NXT, only 73 get access, thus there is huge run-up in price. The 73 stakeholders can do anything they want. They have all the power. They can pump and dump, manipulate the market, create loyal followers through giveaways (one guy gave me 32 NXT. gee, thanks).

If the dev of NEX is not bullshitting and actually intends to push this forward, NEX could be huge. From this thread there are already 50+ interested parties. NEX can be what NXT will never be.

As for fair distribution, make people send a picture of themselves along with their NEX wallet address handwritten on a piece of paper.



Great decision on the sell, much timing.
I too spit on the grave of NXT and call its supporters silly people.

Very interested, not sock puppet at all, really.
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