NXT Ought to be Taken Seriously

[Anon136]

I don't like the concept of the rich getting richer, which is why I also dislike PoS.

I think this is why you should like PoS. With Nxt's PoS forging, the ROI is the same percentage whether you invest $100 or $100000. This is as fair as it gets. Both investments will grow at the same rate. PoW mining such as that used in Bitcoin is not this fair. Why? Because the nature of hardware/electricity costs and economy-of-scale gives an advantage to the rich. For instance, they can buy 100 or 1000 miners (or manufacture their own!) for a much better deal than the little guy who can only afford one.

economies of scale is a real problem for pow cryptos. a person who invests 10 billion gets WAY more than 10 times as much hashing power out of that investment as someone who invests 1 billion.

[tstang]

Personally,

the concept of Proof of Stake (POS) by NXT coin is interesting and different compare to Proof of Work (POW) used by Bitcoin.

I think during infancy stage, like Bitcoin, it would be beneficial and FAIR to everyone, especially miners to use POW concept.

Once reached a certain threshold, maybe 50%, 80% or 100%, then the concept of POS will be more relevant to sustained the network and miners.


Currently, in NXT coin the early stakeholders are hording all the coins and benefiting them only. There is very little volume and the TRUE value is not reflected as there is no liquidity in the system.

This is not a True and Fair concept of decentralized Crypto currency in the first place.

ONCE AGAIN this myth is spread: http://nxtcoin.blogspot.com get educated little one

Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
BCNext: “This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.”

Get educated a bit? Myth?

Which part ? The part where 1 Billion divided by 73 people or 1 Billion divided 1 million stakeholders?

Scenario 1 :  1 Billion / 73 people = each has 13.69 million or 13,698,630 each

Scenarion 2 : 1 Billion / 1 million people = 1,000 each

Which part is unfair? You judge yourself. This is NOT a MYTH. It's the FACT!

[tstang]

Personally,

the concept of Proof of Stake (POS) by NXT coin is interesting and different compare to Proof of Work (POW) used by Bitcoin.

I think during infancy stage, like Bitcoin, it would be beneficial and FAIR to everyone, especially miners to use POW concept.

Once reached a certain threshold, maybe 50%, 80% or 100%, then the concept of POS will be more relevant to sustained the network and miners.


Currently, in NXT coin the early stakeholders are hording all the coins and benefiting them only. There is very little volume and the TRUE value is not reflected as there is no liquidity in the system.

This is not a True and Fair concept of decentralized Crypto currency in the first place.

Hi tstang, I'd say volume is pretty good, given the very early (beta, in fact) stage Nxt is currently in. It will improve as more exchanges list it (Bter just added it today!) and as the clients and features mature.

Regarding true and fair decentralization, I think PoS offers more opportunity for decentralization because hardware costs are not a barrier to entry in supporting the network. And for distribution, things aren't as bad as you might think. Here are some more stats about Nxt distribution vs Bitcoin pulled from http://nxtcoin.blogspot.ca/2014/01/nxt-volume-history.html

Nxt
28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
vs:
Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x

Based on this I think things are looking very positive for Nxt.

Could Nxt have been initially launched with a better distribution? Probably, but it's far from terrible and getting better as more buyers enter the market. The community is very active, development is happening quickly, and support is growing. I think these will have more of an impact on Nxt's future than how ideal the initial launch was. These are also why it will be hard for a clone to compete with Nxt.

A simple question to your liquidity and market force on demand and supply.

Why it's NOT LISTED on TOP 3 Crypto exchanges ?

Please support the facts where you get the data for Bitcoin holders.

"Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x"

[Anon136]

Why it's NOT LISTED on TOP 3 Crypto exchanges ?

All of the other coins are bitcoin copy cats. That means that for the exchange all they have to do plug them in to their existing framework. Nxt is a completely new crypto written completely from the ground up with brand new code. This means that, in order for the exchanges to include Nxt, they would have to write their own new code in order to be able to support it.

[ShadowOfScales]

Honestly, if the wallet was not painful to use, and did not require hosting a page locally, so that I can /slowly/ use it on my web browser, I'd bother with it.

As NXT has a wallet that isn't as easy to use as any of the QT wallets, well...
It's as simple as that really, other coins are so much more accessible to me.

[salsacz]

I don't like the concept of the rich getting richer, which is why I also dislike PoS.

I think this is why you should like PoS. With Nxt's PoS forging, the ROI is the same percentage whether you invest $100 or $100000. This is as fair as it gets. Both investments will grow at the same rate. PoW mining such as that used in Bitcoin is not this fair. Why? Because the nature of hardware/electricity costs and economy-of-scale gives an advantage to the rich. For instance, they can buy 100 or 1000 miners (or manufacture their own!) for a much better deal than the little guy who can only afford one.

economies of scale is a real problem for pow cryptos. a person who invests 10 billion gets WAY more than 10 times as much hashing power out of that investment as someone who invests 1 billion.

you're a genius. Go on, I am saving all your citations

[Anon136]

you're a genius.

rofl man I wish.

[salsacz]

Personally,

the concept of Proof of Stake (POS) by NXT coin is interesting and different compare to Proof of Work (POW) used by Bitcoin.

I think during infancy stage, like Bitcoin, it would be beneficial and FAIR to everyone, especially miners to use POW concept.

Once reached a certain threshold, maybe 50%, 80% or 100%, then the concept of POS will be more relevant to sustained the network and miners.


Currently, in NXT coin the early stakeholders are hording all the coins and benefiting them only. There is very little volume and the TRUE value is not reflected as there is no liquidity in the system.

This is not a True and Fair concept of decentralized Crypto currency in the first place.

Hi tstang, I'd say volume is pretty good, given the very early (beta, in fact) stage Nxt is currently in. It will improve as more exchanges list it (Bter just added it today!) and as the clients and features mature.

Regarding true and fair decentralization, I think PoS offers more opportunity for decentralization because hardware costs are not a barrier to entry in supporting the network. And for distribution, things aren't as bad as you might think. Here are some more stats about Nxt distribution vs Bitcoin pulled from http://nxtcoin.blogspot.ca/2014/01/nxt-volume-history.html

Nxt
28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
vs:
Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x

Based on this I think things are looking very positive for Nxt.

Could Nxt have been initially launched with a better distribution? Probably, but it's far from terrible and getting better as more buyers enter the market. The community is very active, development is happening quickly, and support is growing. I think these will have more of an impact on Nxt's future than how ideal the initial launch was. These are also why it will be hard for a clone to compete with Nxt.

A simple question to your liquidity and market force on demand and supply.

Why it's NOT LISTED on TOP 3 Crypto exchanges ?

Please support the facts where you get the data for Bitcoin holders.

"Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x"

Bazinga

ROB WILE, 927 People Own Half Of All Bitcoins, in: Business Insider, December 10, 2013, [online] <http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12>

[Anon136]

Personally,

the concept of Proof of Stake (POS) by NXT coin is interesting and different compare to Proof of Work (POW) used by Bitcoin.

I think during infancy stage, like Bitcoin, it would be beneficial and FAIR to everyone, especially miners to use POW concept.

Once reached a certain threshold, maybe 50%, 80% or 100%, then the concept of POS will be more relevant to sustained the network and miners.


Currently, in NXT coin the early stakeholders are hording all the coins and benefiting them only. There is very little volume and the TRUE value is not reflected as there is no liquidity in the system.

This is not a True and Fair concept of decentralized Crypto currency in the first place.

Hi tstang, I'd say volume is pretty good, given the very early (beta, in fact) stage Nxt is currently in. It will improve as more exchanges list it (Bter just added it today!) and as the clients and features mature.

Regarding true and fair decentralization, I think PoS offers more opportunity for decentralization because hardware costs are not a barrier to entry in supporting the network. And for distribution, things aren't as bad as you might think. Here are some more stats about Nxt distribution vs Bitcoin pulled from http://nxtcoin.blogspot.ca/2014/01/nxt-volume-history.html

Nxt
28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
vs:
Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x

Based on this I think things are looking very positive for Nxt.

Could Nxt have been initially launched with a better distribution? Probably, but it's far from terrible and getting better as more buyers enter the market. The community is very active, development is happening quickly, and support is growing. I think these will have more of an impact on Nxt's future than how ideal the initial launch was. These are also why it will be hard for a clone to compete with Nxt.

A simple question to your liquidity and market force on demand and supply.

Why it's NOT LISTED on TOP 3 Crypto exchanges ?

Please support the facts where you get the data for Bitcoin holders.

"Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x"

Bazinga

Another thing to think about. While you may have some instances of multiple individuals sharing a single address, it is probably much more common to have single individuals using multiple addresses. So that chart is probably skewed favorably.

[salsacz]

now in spanish

https://bitcointalk.org/index.php?topic=412243.msg4609360#msg4609360

[Anon136]

now in spanish

https://bitcointalk.org/index.php?topic=412243.msg4609360#msg4609360

WOW! did you do the translation?

[seek4dream]

Honestly, if the wallet was not painful to use, and did not require hosting a page locally, so that I can /slowly/ use it on my web browser, I'd bother with it.

As NXT has a wallet that isn't as easy to use as any of the QT wallets, well...
It's as simple as that really, other coins are so much more accessible to me.

You are right, but you should see it from a different perspective:
Since user-friendly Nxt client is yet to come (which will be available soon actually), investors like you are hesitant to join Nxt, so the price is still low. You should take the client issue as a big chance.

[salsacz]

now in spanish
https://bitcointalk.org/index.php?topic=412243.msg4609360#msg4609360

WOW! did you do the translation?

No.

And now also in Chinese!

https://bitcointalk.org/index.php?topic=345619.msg4505311#msg4505311

[seek4dream]

now in spanish
https://bitcointalk.org/index.php?topic=412243.msg4609360#msg4609360

WOW! did you do the translation?

No.

And now also in Chinese!

https://bitcointalk.org/index.php?topic=345619.msg4505311#msg4505311

well done.
most Chinese investors just saw Nxt as another Altcoin, now they have the chance to take Nxt seriously.
We need to spread this article to more Chinese websites.

[narousberg]

I trust in NXT future. NXT have really quick transaction and very energy efficient. PoS is future. I have buyed 20k coins.
Good luck NXT

[MakeBelieve]

I trust in NXT future. NXT have really quick transaction and very energy efficient. PoS is future. I have buyed 20k coins.
Good luck NXT

You certainly have a nice number of coins there I hope NXT does become successful and doesn't end up like all the other alt coins.

[Anon136]

I trust in NXT future. NXT have really quick transaction and very energy efficient. PoS is future. I have buyed 20k coins.
Good luck NXT

nice. good time to buy too with some big stake holder taking massive dumps all day.