I made an earlier post about Ethereum some week or two ago, you are encouraged to read it. Ethereum is a copyrighting coin but a larger version of Mastercoin. They spend a lot of time spamming YouTube and articles which are only read by a few hundred. Surprisingly they've recently had a video with 6000 views but that was over two months, a day old video of a kitten playing with yarn can get more views.
It's a ponzi scheme ran by wealthy investors and there is even a Goldman Sachs' connection. Nobody wants to contribute to a get quick rich scheme benefiting a few people hence most stay away from that. After all how is Vitalik flying around the world, staying in hotels and partying it up at conventions? There's money coming from somewhere.
With a $30 million IPO, I am not going to invest $1K or $10K as I would only get 0.00003% to 0.0003% of all Ether. That translates to risking a huge amount of capital (for an average Joe at least) on a coin that may not go past $40 million. The people who invested into Mastercoin / Maidsafe would had made more money buying Doge, NxT, Darkcoin, et cetera.
Honestly big IPOs or wealthy investors doesn't mean jack. Crypto currencies don't have an issue in funding but an issue in educating consumers to use their coin over say Bitcoin or a money transfer like Paypal. No amount of wealthy investors can change that, to be honest. In Bitcoin and Doge's case - that was all offline viral P2P advertising (like telling your friends to use Bitcoin) or forum advertising. I learned about crypto currencies from reading an internet forum and I don't think that person was being paid to promote BTC.
Good post dude, ponzi scheme may be a bit strong. Let Ethereum walk their path we will walk ours. Spot on Mr. Smith. Taunsew should realise also that there are about 2 million crypto users in this world. Ever wonder why? Because there is no doggone IPOs and Gold Sachs figures in the Crypto industry. And if we continue to think that cryptos are the best things ever invented since sliced bread, then we may never see this best thing ever happening in our life time, so long we remain arrogant and think we don't need mainstream help. It has been a good five years since bitcoin was launched and we only have at most a couple of hundred million investments by VCs. In the same time frame, back in the Internet boom, tens of billions were poured in. That is the difference. It will be a big mistake to continue to be antagonistic in our approach against mainstream. I'd rather go for a "hook line and sinker" approach with mainstream if I want to beat them at their game. If your assumption that IPOs and banks are important then how come people aren't throwing billions at Mastercoin? I'ld say it's the opposite - the fact we have 2 million crypto users is because Bitcoin wasn't centralized by a company and there wasn't an IPO. There's plenty of money transfer services in the world and most people write them off as ponzi schemes or scams, since they are all centralized companies which had IPOs and/or they only benefit their owners. Ethereum frankly has no appeal to the business community. There's no Ethereum language developers to hire (as the language barely exists at the moment), so you can't really create VC businesses to handle it. Ethereum's huge IPO effectively means any potential returns on investments are limited. To see a 10x return Ethereum would have to hit $300 million and frankly that's harder than it sounds. In essence, as I've written before, Ethereum ends up being a larger version of Mastercoin or eMunie where it's all dominated by a few wealthy investors who are baffled as to why nobody wants to buy into their get quick rich scheme Don't know why you keep saying there is an IPO with ethereum but they are also trying to raise funds to work on their project, albeit in a different way to what NEM did. Why would anyone want to "throw" money at Mastercoin if it wasn't marketed the right way. I wouldn't want to associate and link NEM with Mastercoin for a start. They are separate and if you read Vitalik's experience in there you'd understand why. Google and Facebook is centralized. I know they are worth more than half a trillion and i know for sure if they want to do some crypto thing, they can easily strike and they may at the right time. And this much I'd say. They won't care about this 2 million minnows that are so banked on their "greatest thing since slice bread". They can continue to think of their great ideals and champion their "decentralization". Reality is there is still more than 7 billion out there, including all the wealth of the less than 1% of the world's population that may buy their idea. To be honest, I don't care about ethereum and mastercoin. I care about how we are going to make NEM work. My initial thoughts are to beat the big boys at their game - centralize and then de-centralize. It is also no more the ideals of a cryptocoin, but how a cryptocoin will make it compelling and how it will change our lives easily and permanently. And you need fiat sugar for that. No IPO? Huh? First you claim there's an Ethereum Alpha and then claim they have no IPO, you have no clue what's happening with Ethereum admit it. Don't waste my time by mentioning Gihub. https://bitcoinfoundation.org/forum/index.php?/topic/668-introducing-ethereum/An IPO has been in the works for ages. Ethereum is drooling at the idea of a $30 million IPO (they used the token figure of 30,000 BTC but really were pricing $30 million in $Fiat). By the way you have no clue about the history of crypto currencies, either. Amazon has already tried "Amazon Payments" and it didn't go anywhere which is proof that big money doesn't make something work. Technically, if you do your research, you'ld find that many many many companies are already in the transfer payment business but simply don't attract the userbase like Bitcoin or the alternates have. It's like saying Boeing (aircraft) should start making automobiles but the reality is Boeing wouldn't have a clue on how to make a good automobile, neither can a company like Facebook or Google make a good crypto currency and they're already preoccupied with their own niches. If Google or Facebook gets into the game it's because they buy out someone like Ripple, not because they divert existing staff to create a crypto currency. Ethereum is starting to get annoying. It's just a 18 year old mascot from Toronto (Goldmacn Sachs wanted a Justin Bieber to promote their coin) who pumps out drafts on Github and yet this kid is more well known than real Bitcoin developers or an alternate developer like Charlie Lee. I get it, he's "hip young and kewl" - Goldman Sachs should force Vitalik to undergo a make over so they can make him look like a boy band singer. |
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I made an earlier post about Ethereum some week or two ago, you are encouraged to read it. Ethereum is a copyrighting coin but a larger version of Mastercoin. They spend a lot of time spamming YouTube and articles which are only read by a few hundred. Surprisingly they've recently had a video with 6000 views but that was over two months, a day old video of a kitten playing with yarn can get more views.
It's a ponzi scheme ran by wealthy investors and there is even a Goldman Sachs' connection. Nobody wants to contribute to a get quick rich scheme benefiting a few people hence most stay away from that. After all how is Vitalik flying around the world, staying in hotels and partying it up at conventions? There's money coming from somewhere.
With a $30 million IPO, I am not going to invest $1K or $10K as I would only get 0.00003% to 0.0003% of all Ether. That translates to risking a huge amount of capital (for an average Joe at least) on a coin that may not go past $40 million. The people who invested into Mastercoin / Maidsafe would had made more money buying Doge, NxT, Darkcoin, et cetera.
Honestly big IPOs or wealthy investors doesn't mean jack. Crypto currencies don't have an issue in funding but an issue in educating consumers to use their coin over say Bitcoin or a money transfer like Paypal. No amount of wealthy investors can change that, to be honest. In Bitcoin and Doge's case - that was all offline viral P2P advertising (like telling your friends to use Bitcoin) or forum advertising. I learned about crypto currencies from reading an internet forum and I don't think that person was being paid to promote BTC.
Good post dude, ponzi scheme may be a bit strong. Let Ethereum walk their path we will walk ours. Spot on Mr. Smith. Taunsew should realise also that there are about 2 million crypto users in this world. Ever wonder why? Because there is no doggone IPOs and Gold Sachs figures in the Crypto industry. And if we continue to think that cryptos are the best things ever invented since sliced bread, then we may never see this best thing ever happening in our life time, so long we remain arrogant and think we don't need mainstream help. It has been a good five years since bitcoin was launched and we only have at most a couple of hundred million investments by VCs. In the same time frame, back in the Internet boom, tens of billions were poured in. That is the difference. It will be a big mistake to continue to be antagonistic in our approach against mainstream. I'd rather go for a "hook line and sinker" approach with mainstream if I want to beat them at their game. If your assumption that IPOs and banks are important then how come people aren't throwing billions at Mastercoin? I'ld say it's the opposite - the fact we have 2 million crypto users is because Bitcoin wasn't centralized by a company and there wasn't an IPO. There's plenty of money transfer services in the world and most people write them off as ponzi schemes or scams, since they are all centralized companies which had IPOs and/or they only benefit their owners. Ethereum frankly has no appeal to the business community. There's no Ethereum language developers to hire (as the language barely exists at the moment), so you can't really create VC businesses to handle it. Ethereum's huge IPO effectively means any potential returns on investments are limited. To see a 10x return Ethereum would have to hit $300 million and frankly that's harder than it sounds. In essence, as I've written before, Ethereum ends up being a larger version of Mastercoin or eMunie where it's all dominated by a few wealthy investors who are baffled as to why nobody wants to buy into their get quick rich scheme |
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Instead of focusing on NEM, NXT developer Come-From-Above should at least stop spreading lies about Nxt. I'm pretty sure Come-from-Above isn't a Nxt developer. Perhaps you meant Come-from-Beyond. Both are from Russia and have atrocious spelling and tend to troll, so it's possible, although I have a list of accounts who I have associated with CFA - many of them have similar spelling, trolling behavior and a tendency to name themselves after reputable developers. |
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sorry but i am not buying "i was hacked"  Yes this echos the Roger Ver's case. Where almost no information is shared with the public, the hacker allegedly turns themselves in for the bounty and nobody goes to jail and it's quietly swept under the rug. It must be one of those bad publicity is still publicity, stunts (marketing technique). If someone was a real hacker who got away stealing huge amounts then they wouldn't turn themselves in. Almost nobody goes to jail over crypto currencies unless it's drug related like Charlie Shrem. |
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all the alts will die eventually, bitcoin is better than all of them.
You're talking out your ass and you know it. There are several alts that are better than bitcoin in many ways. Bitcoin is just the first and has the best development team (I.E. everybody that counts in crypto) there are no alts today that are significantly better than bitcoin. bitcoin's adoption is higher than all the alts combined, there is no reason today to use anything but bitcoin. Actually NXT is better in every way imaginable. Fact what benefits does NXT offer over bitcoin? None. PoS is proven not to work in long-term. NxT does have a lot of independent developers pumping out side features like the Asset Exchange. On the flip side, it has poor distribution and proof of stake only benefits the wealthiest wallets. Then there are uncertainties around NxT regarding all the scams and thefts they seem to attract all the time. I'm surprised NxT still has value but as far as we know it might just be heavily manipulated. Like the news of some guy stealing millions of NxT led it to its' value to increase by 10% (might as well be the whales bailing out their own coin to prevent a price collapse). |
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I consider it good publicity. Many people came into Bitcoin just from all the news about it hitting $1000+ in late 2013.
Yes his article is full of misinformation. Mind you - there's no centralized page detailing NEM. To understand NEM, you have to go through a hundred pages of posts and download an alpha and frankly that's too much work in this day and age where people have an attention span of 5 seconds. There needs to be a media package or an information website. Even a Wikipedia article would be a start (Ethereum and NxT has one..)
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The article you referenced has absolutely nothing to do with alternate coins and/or "scam coins".
Second - a lot of those scam coins have virtually no userbase and thus there's technically no one who can be alienated away from crypto currencies.
Third, off topic and directed at that article, the author is obsessed with volatility but fails to realize that (except for the Petro $Fiat USD) many national currencies have volatility comparable or worse than Bitcoin and it doesn't stop commerce from happening.
Technically once Bitcoin hits several hundred billion or trillion capitalization it'll be stable enough in pricing for those people but by then there'll be no investment opportunity in Bitcoin (no more than currency trading).
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The dot.com bubble of the late 1990s was $7 trillion and the internet back then was largely an obscure thing to most people.
Then we also have gold which is a $2 trillion investment and a $4 trillion commodity. Even then gold has its' draw backs. If I am a wealthy person in Iraq or Syria and if I have to flee as a refugee, I can only physically carry so much gold on my possession ($1 million in gold = 25 kgs) and I risk my gold being seized by bandits or scrupulous border officials.
It's not a question of IF crypto currencies will be worth trillions but WHEN, and I think when is not decades but years.
Crypto currencies are still only $10 billion versus its' true realization that it'll be trillions someday. We are all technically early adopters.
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For all the complaints about the article - I don't see anyone having written an article themselves in order to publicize NEM.
The reality is this guy said he made $1500 just by commenting on an article and that's the stuff which appeals to the Average Joe. We could easily circulate that article around the net on threads with titles like: "How I made $1500 just by posting a comment on an article" and the amount of views it would get is virtually unlimited and it's good publicity for NEM. Any publicity is good publicity.
Don't forget that tons of people came into Crypto Currencies because they heard about Bitcoin hitting $1200. Yes people came into Bitcoin just because of that and it gave them inspiration that they could repeat that sort of success by buying Bitcoin themselves or going into alternates. Going years back, guys bragging about making a few bucks mining is what also brought in people into Bitcoin.
So yes I am certain if we circulated that article around the internet it would bring a lot of people into NEM.
+1 making 1500$ just by commenting on an article is very good pr stuff. Wait until 1stake = 15000$, 150000$ or more then I could see the story of buying a pizza for millions dollar all over again, only slightly different with NEM. Laszlo, the guy who bought the pizzas, eventually came back into Bitcoin / Bitcointalk but only recently and after Bitcoin went above $1000. There's many people who currently write NEM off and for a variety of reasons, e.g., priced too much, not released yet, something I read by trolls, et cetera. A lot of these people will be coming back when a NEM stake is worth $5000 or more. http://letstalkbitcoin.com/blog/post/how-i-got-1500-for-commenting-on-an-article |
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For all the complaints about the article - I don't see anyone having written an article themselves in order to publicize NEM.
The reality is this guy said he made $1500 just by commenting on an article and that's the stuff which appeals to the Average Joe. We could easily circulate that article around the net on threads with titles like: "How I made $1500 just by posting a comment on an article" and the amount of views it would get is virtually unlimited and it's good publicity for NEM. Any publicity is good publicity.
Don't forget that tons of people came into Crypto Currencies because they heard about Bitcoin hitting $1200. Yes people came into Bitcoin just because of that and it gave them inspiration that they could repeat that sort of success by buying Bitcoin themselves or going into alternates. Going years back, guys bragging about making a few bucks mining is what also brought in people into Bitcoin.
So yes I am certain if we circulated that article around the internet it would bring a lot of people into NEM.
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99.9% of users of altcoins only care about one thing; Bitcoin.
That's why most alts fail. It doesn't matter how innovative the coin is, if it gains in value, there's enough people to drive it to the ground. It happens time and time again.
If you wanted a coin to have any long term value, you'd keep it off exchanges, and focus entirely on building infrastructure to use the coin directly for purchasing goods and services.
[/quote
Yes. I've witnessed so many PoW coins get killed off by professional miners within weeks of their launch.
There's frankly more people looking for a quick buck than determined long term holders.
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I made an earlier post about Ethereum some week or two ago, you are encouraged to read it. Ethereum is a copyrighting coin but a larger version of Mastercoin. They spend a lot of time spamming YouTube and articles which are only read by a few hundred. Surprisingly they've recently had a video with 6000 views but that was over two months, a day old video of a kitten playing with yarn can get more views.
It's a ponzi scheme ran by wealthy investors and there is even a Goldman Sachs' connection. Nobody wants to contribute to a get quick rich scheme benefiting a few people hence most stay away from that. After all how is Vitalik flying around the world, staying in hotels and partying it up at conventions? There's money coming from somewhere.
With a $30 million IPO, I am not going to invest $1K or $10K as I would only get 0.00003% to 0.0003% of all Ether. That translates to risking a huge amount of capital (for an average Joe at least) on a coin that may not go past $40 million. The people who invested into Mastercoin / Maidsafe would had made more money buying Doge, NxT, Darkcoin, et cetera.
Honestly big IPOs or wealthy investors doesn't mean jack. Crypto currencies don't have an issue in funding but an issue in educating consumers to use their coin over say Bitcoin or a money transfer like Paypal. No amount of wealthy investors can change that, to be honest. In Bitcoin and Doge's case - that was all offline viral P2P advertising (like telling your friends to use Bitcoin) or forum advertising. I learned about crypto currencies from reading an internet forum and I don't think that person was being paid to promote BTC.
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No one talked about the Ethereum. This is other generation of coin. Mine directly from wallet, uses CPU. There are others details. https://github.com/ethereum  no one cares for ethereum any more. They will be obsolete before they even get off the ground. Ps. Standing in a bank, in a 10 person long queue to send 70 Euro to portagul cos online takes 2-3 days. Let's hurry this stuff up I can't stick this archaic system anymore lol Ethereum was another get rich quick scheme, which awards almost everything to a select few like Bitshares, NXT etc. So far only Counterparty and NEM has shown to be widely distributed and above board. Other generation of coin lol. It will be a forgotten generation soon. I'm not sure I would agree with that. Ethereum has yet to prove what it's made of. The signals I have seen until now are quite intriguing. So I'm curious how they'll turn out in the long run. P.S. I was surprised when the other day I saw Ashton Kutcher(Celebrity actor, turned tech angel investor) tweet about ethereum. Just for the record, he has 16.3 million followers. These are the kind of people we need to target and find a way to bring on board. Yes don't knock it off till it is dead completely. Their Alpha is way ahead of NEM, though it can be quite cryptic and only understood by hard core programmers. Aahton Kutcher been bullish for years about BTC. He probably already invested into Ethereum. Plus how do you know their alpha state? Ethereum already been priced out for most of us due to their $30 million IPO. Throwing a huge dev team and spamming YouTube / media =/= capitalization.. mastercoin knows that. If I invest $1000 I only get 0.000033% of Ethereum and there's no guarantee I'll get any money from it. It's very high risk for early investing |
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The issue with BTC is too much hype buying and not enough legit new people coming in. Probably the best news we've heard is 4000 Bitcoin ATMs in Ukraine but Ukrainians aren't yet lining up to buy BTC but could in a worsen currency crisis.
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NxT's price is collapsing because one of the original NxT whales (40 million) downloaded a keylog file and presumably close to 7 million has been dumped by a hacker so far and another 33 million will be dumped. He had passwords to wallets worth several $million on a text file on his desktop. https://nxtforum.org/general-discussion/price-speculation/5440/This does relate to NEM as it is entirely traded on the AE and NxT's price changes has a huge effect. A $500 NEMstake is possible if NxT continues to drop in price. This is why we are building a feature into NEM that should help prevent situations like this. Welcome to Crypto 2.5 NXT is building Phasing and Account Control to prevent this as well. Welcome to NXT. Crypto 3.0. Satoshi 1.0 plus BCnext 2.0 plus Qora 3.0 make NEM 4.0 Generation 4.0!! |
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The dot.com bubble in the late 1990s was $7 trillion and it created billionaires like Mark Kuban overnight. It's technically amazing things got that big considering that estimates suggest only like 2% of the world's population was even using the internet (compared to 39% today).
The more recent housing bubble of 2008 was $10 trillion. Worldwide there's $97 trillion investments, of which $2 trillion is gold. There's also $400 trillion in derivatives.
Crypto currencies at $10 billion is almost nothing - dropbox is worth more than Bitcoin and yet I don't see governments around the world trying to ban dropbox or write laws on it. The governments already realize the potential in crypto currencies but it's an education issue we are facing. The merchants could really speed up things if they offered 1% to 2% discounts to people who pay in crypto currencies.
I'm convinced crypto currencies will be trillions but it's a guessing game who'll receive the most share. The thing is Bitcoin's capitalization is so small relative to the size of this potential market (trillions) that Bitcoin might still be replaced by a present or upcoming alternate.
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Maybe investors are not that interested in NXT because it already has increased in value so much (from launch). Everyone is always looking for the investment that can give 10x returns?
If you are looking for an investment gives 10x returns and you won´t be scammed for sure, than NXT is the right thing for you. Todays marketcap will be a joke when NXT is ahead of BTC. I'd like to believe you, problem is NXT has been going down for a solid month. You shouldn't throw huge figures out there without any sort of analysis to back it up, because then you just sound like a pumper. Tell my why I should believe in NXT when the NXT millionaires are content to let the price keep falling. There's a handful of coins out there with some interesting new developments, why choose NXT? You say 1 month and I say 6 months. NxT hasn't quite recovered to when it used to be a stable 8 to 9 cents back in early 2014, the price went off the cliff after the public became aware of NxT's distribution. Please don't say that the 8 / 9 cents was due to Bitcoin being $1200, Bitcoin back then was only in the 800 range and it even went down to $650ish in February. By all indication NxT is a shadow of its' former self. I don't think any rich angel investor will come in to save NxT, especially not when they've had three major theft incidents in the past month alone (that is extreme high risk, no? Even moreso than other coins). Not that it matters to the "right" people. All the NxT whales have had 8 months to diversify their get-quick-rich fortunes into BTC, LTC, Maidsafe, Counterparty, Darkcoin and NEM. Only people who are losing out from NxT are the numerous bagholders who spent real $Fiat. The money isn't gone, it simply went towards buying Teslas, Mansions and crypto diversification portfolios for a few NxT whales. NEM is a clone what will happen to it six months down the road? Will they continue to copy NXT features? There is no point in NEM currencies like Ripple, Counterparty, Cloaksend, Mastercoin, NXT, and MaidSafe are more original than NEM NEM is not a fork. It has features and innovations which NxT does not have. For instance, this recent major theft in NxT would not be possible in NEM as NEM does not utilize an easily hackable brain wallet like NxT. NEM utilizes multiple layers of authentications in order to access and move funds. As well those coins are either PoW or PoS. NEM has PoI which is the most innovative alternative to PoS to date, the only thing rivaling it would be Bitshares' system (which you failed to mention - providing you obviously don't know much about alternative cryptos or your information is 7 months out of date). Nice try, you thought you were smart because you saw some NEM registration thread from January before it was discovered the NxT source code was sloppy and full of errors so they decided to move away from forking. The NODE team made the same conclusion about the NxT code, as did others. |
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Maybe investors are not that interested in NXT because it already has increased in value so much (from launch). Everyone is always looking for the investment that can give 10x returns?
If you are looking for an investment gives 10x returns and you won´t be scammed for sure, than NXT is the right thing for you. Todays marketcap will be a joke when NXT is ahead of BTC. I'd like to believe you, problem is NXT has been going down for a solid month. You shouldn't throw huge figures out there without any sort of analysis to back it up, because then you just sound like a pumper. Tell my why I should believe in NXT when the NXT millionaires are content to let the price keep falling. There's a handful of coins out there with some interesting new developments, why choose NXT? You say 1 month and I say 6 months. NxT hasn't quite recovered to when it used to be a stable 8 to 9 cents back in early 2014, the price went off the cliff after the public became aware of NxT's distribution. Please don't say that the 8 / 9 cents was due to Bitcoin being $1200, Bitcoin back then was only in the 800 range and it even went down to $650ish in February. By all indication NxT is a shadow of its' former self. I don't think any rich angel investor will come in to save NxT, especially not when they've had three major theft incidents in the past month alone (that is extreme high risk, no? Even moreso than other coins). Not that it matters to the "right" people. All the NxT whales have had 8 months to diversify their get-quick-rich fortunes into BTC, LTC, Maidsafe, Counterparty, Darkcoin and NEM. Only people who are losing out from NxT are the numerous bagholders who spent real $Fiat. The money isn't gone, it simply went towards buying Teslas, Mansions and crypto diversification portfolios for a few NxT whales. |
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Any update on the sockpuppet accounts? There was some proposal a few pages back regarding it. I would like to see them removed, after it is proven they are sockpuppets without a shadow of doubt.
No. We talked with the NODE people about this and we weren't satisfied with their conclusions. There's also a thread on the NODE sockpuppet and it's very controversial (and an entertaining read, especially when people began to criticize their methods and then labelling whole groups of people as socks even though evidence points to the contrary that they're not related to each other). They were relying heavily on "intuition". Like there was a Hill and another user Rockhill, who are long time users of Bitcointalk, who were grouped together on a name basis by NODE even though these people were clearly not the same individual. Then they were also grouping some people by an ISP, which is bollocks because in some countries there's only one or two major ISP companies. there was calls for a second audit but it quickly devolved into a NODE styled witchhunt and people were getting terrified of getting their stakes taken away, not for being socks but because it was devolving into "let's just start taking stakes away from hundreds of people for no reason", so it was canned. There are more productive things we should be focusing on |
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* Assumes Bitcoin elites would be more benevolent,
* meanwhile there are threads about what you would do if you got rich and most of the answers are "hookers, yachts and blow".
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