Need Your Opinion on this Matter - Creating a gen. 2.0 Cryptocurrency! #!#!#!#!#

[node.js]

https://www.cryptocoinsnews.com/wp-content/uploads/2014/10/bitcoin-crypto-passport-1000x520.jpg

Hi,

I, like many crypto enthusiasts, am interested in creating a crypto currency from scratch! But in a crypto-world full of "get-reach-fast" schemes it is very hard to actually spot out, something worth the time to develop or help in development, i mean look at all those Bitcoin forks that are "revolutionary", with the same technology and core elements!!! Not to mention that there are actually tones of instructions on the net, on how to create your bitcoin fork, which made Bitcoin more or less in a business model at least here in the Altcoin section of the forum.
 Of course this is not necessarily a bad thing as people are active with the root and they are constantly moving the "crypto" notion on and on!

In the last 8-10 months i witnessed the birth of a few so called Gen 2.0 Cryptocurrencies! Some where inspiring and well designed, other naive and quite foolish!
A lot of them had no real "mojo", and went down as expected! More or less those coins were determined to appear in desire to get the same outcome as NXT did.

Forging introduced by them, was one of those revolutionary ideas, which i like better compared to bitcoin( cause its bitcoin's weakness).

But the idea of this thread is focused on 2 other cryptocurrencies that i was very excited about (at the beginning): NodeCoin(aka NXT Lite)  & Cripty
I was very proactive with these innovations, mostly because these projects used Node.Js, and i was very happy for them, since they used a language which i posses and and i'm quite nerdy when it comes to it!

But, to my regret, i was disappointed of the result!  

If i were to analyse Node and Cripty, i see a difference in magnitude between the projects and their developers!

First of all Node has a a smaller team, compared with cripty! The same thing you can say about their budgets! But they failed to make everything as to their roadmap, and their followers turned around!

Node on the other hand made an awful entry, with a very bad distribution! Not to mention their attitude, is quite imposing!
Also both projects are obfuscating their code, and not letting out none, which is in my opinion a bad thing, as it can't be verified by a third party and that is quite an disadvantage! Of course you can say that it is more or less copyrighted but i ain't buying it
Both projects are going down in my opinion at least in the long run!



So, this is my point:

I made and analyses of both projects, and now i know their weaknesses and strengths, and the exact moments when they failed. Due to the fact that there was a source leak from the Node team, i was able to get the idea of how NodeCoin works, and where from it got their fast transactions and what drives the transaction to be secured. So i thought i would give it a try and replicate NodeCoin on my local network! Guess what.... Secured! I'm very proud of myself, i got to a certain level of making the network work, of course there are a lots of bugs and it needs more time, but its working. So i'm thinking of making this project an OpenSource witch will lead to more innovations! And more CryptoNews that you can handle

Now I have the know how and the desire to do it, but i need your help to figure it out!!!    


1) Should I start a Gen 2.0 Crypto Currency from Scratch?
2) Is it worth the time
3) Does it intrigue you to be a part of such a project?
4) As an investor, does a project like this sound profitable to you???
5) What features are you expecting to see???
6) How do you see it in the long run???


Help me decide, if it is worth doing or not! Thank you for taking your time to read this!

Please share your thoughts, and make it in a constructive way so others could participate!

P.S.

I'm also looking to motivate you to participate in discussions, so i will prepare some symbolical bounties to thank you for your help!

EDIT: Removed the scam attribution towards NXT, not to create conflicts!

[davethetrousers]

More or less those coins were determined to appear in desire to get the same outcome as NXT did(but i still think of NXT as a scam, don't blame me, its just my opinion).

With the prices so low right now, against both BTC and fiats, people really have no excuse for calling NXT some sort of scam. I can't even imagine where the "scam vector" should be. Initial distribution maybe? Well, prices are cheap again, as I said.

If you're convinced by the project, get in on it.

[davethetrousers]

What do you think davethetrousers, if a project with the same management degree as in NXT's case, but with a different technology and prospects will be announced tomorrow, what will be your reaction to it?

It'd have to be really, really, REALLY innovative above and beyond what NXT is doing, to be relevant and of interest at this point. You'd have to aim at something at the scale of Ethereum or higher, and people have their doubts whether they will be able to deliver even halfway on their claims.

I'm not saying that everything that can be done has been done already, just that there are really ambitious projects around and the "white spots on the map" become less and less all the time.

[StanLarimer]

As a BitShares delegate and one of NXT's favorite competitors I can assure you that NXT is not a scam.  (Other than preferring cats over dogs which is merely an issue of judgement, not integrity.)  

That said, you might also consider BitShares since accelerating the launch of new crypto business models is one of the things we do (and we have several ways you could do so.)  I talk to entrepreneurs about their business ideas a couple of times every week and would be happy to talk with you - Stan@BitShares.org.

In The Thread That Shall Not Be Named, I pointed out some of the reasons why you might do better building you business model on top of NXT or BitShares or Ethereum rather than starting over.  It came down to leveraging existing network effect (which does not come with the freely available open source code.)

For your convenience, I'll reprise my core argument here:

The Origin of BitShares
Part 9
What is a SuperDAC?

SuperDAC - noun - soup-er-dak
A Decentralized Autonomous Company (DAC) providing common services that support layering of other DAC business models onto a common public ledger for the sake of shared network effect.

The need to merge our various DACs into a single "SuperDAC" was based on the realization that they all needed a whole bunch of common services that are much less effective if they aren't common services:

• A unified basket of stable, robust global currencies (bitAssets)
  
• A unified set of well compensated, best-of-breed delegates (steely-eyed geeks and silver-tongued marketers).
• A unified name system.
• A unified secure messaging system.
• A unified set of on and off ramps - portals to the fiat world.
• A unified marketing message.
• A unified consensus-based governing system.
• A unified family of tools and wallets.
• A unified way for newcomers to make instant friends with everyone already there.
• A built-in venture capital system where you can compete for start-up funds - democratically.

New business developers (DAC engineers) shouldn't want to reinvent these things any more than I would want to reinvent my computer's device drivers and operating system.  And what sense would it make to have different competing operating systems, each with a subset of drivers and services?

Gee, I sure wish I could go back in time and invest in MS-DOS.  
Rats.  
An opportunity like that will never come around again.

BitShares took the whole ecosystem into one DAC friendly free-trade zone with all the services that benefit from network effect already in place.

Any developer who wants to build a business would be crazy to stay on the outside and try to replicate that.  Even if they can pick up the toolkit and get all the functions - the network effect doesn't come with the toolkit!  You get that by joining the club.  You still run your own business with its own custom storefront and Internet presence.  You just skipped a year or two of trying to get traffic to stop by!

Now do you begin to see why it wasn't hard for the VOTE and DNS developers to agree to a merger?

We offer instant network effect.  Built in.

If I were going to summarize the opportunity for other developers, I might put it this way:

Come build you business in our free trade zone mall.  Join us in free space.  We are the mall developers.  You can be a mall tenant.   We've got lots of real estate for you - all wired up with power, plumbing, internet and customers browsing the halls.  Add your biological and technological distinctiveness to our own and get issued shares to match the value you have added to our free trade ecosystem.  And its growing network effect.

You'd be crazy to locate your business outside the mall.  Why start over?

When new entrepreneurs contact us about how to leverage the BitShares Toolkit,
these are some of the considerations we often discuss.

[cDefender]

ok, so you are saying that you could easily recreate NodeCoin???

As i recall Node's distribution was so-so, something a long side of NEM not something you should consider copying!

As of Cripty - haven't followed them since their IPO - they gathered more than 700BTC at that time @500$! Not a lot of money to create a global infrastructure but still a significant amount for a startup! And i guess they failed to cover their promises!

As an investor, if you will provide a good business plan, a well thought road map, and prove that you are capable of organising stuff, i might consider investing a couple of bitcoins!

Take your time, and don't rush in to it!

[peter378]

Cripty had some big problems that I guess were due to the new code base. Anything with a new code base is going to have unforeseen bugs and it's not a trivial thing to create a gen. 2.0 because of it.

[Momimaus]

I think I remember you asked the Node guys to join the development, and they said maybe later. Means no thanks we don´t need you.
And now this thread.

Nxt is a scam, node doesn´t work but you made it work, blabla almost no true word in OP.
So the answer is no, don´t make a coin.

[Momimaus]

I think I remember you asked the Node guys to join the development, and they said maybe later. Means no thanks we don´t need you.
And now this thread.

Nxt is a scam, node doesn´t work but you made it work, blabla almost no true word in OP.
So the answer is no, don´t make a coin.

Not quite sure why your being so negative towards this thread, care to explain?

The main goal of this thread is to find an answer, not to prove that someone is wrong or right! I'm expressing my opinion, and i'm grateful that you took the time to read it!

Nxt is a scam, node doesn´t work but you made it work, blabla almost no true word in OP.

What exactly are you stating that is untrue??

I think I remember you asked the Node guys to join the development, and they said maybe later. Means no thanks we don´t need you.
And now this thread.

Care to comment?

I think this is the reason for your OP full of lies. Maybe you apllied to NXT too, but cause they didn´t want you, it is a scam, isn´t it.

[fedoralite]

Ok... ok... ok !

So let me get this straight, you are a developer right???
And you want to create a New Coin, but you are not sure if it is worth it???

 

It is totally worth it! Especially if you are going to make a huge community and will be able to raise their interest with  constant goal reach!!

I am a big supporter of NODE, and i think it is going to reach good results in 1-2years, but it all depends...

Ofcourse you will make a tone of money like all the devs do! This alone should make you greedy enough to start the project!

Let me say it this way:

- Do it!

If it is something like Node, i will invest first =3 I made like 4-5bitcoins only with node!

good luck =3

[Momimaus]

I think I remember you asked the Node guys to join the development, and they said maybe later. Means no thanks we don´t need you.
And now this thread.

Nxt is a scam, node doesn´t work but you made it work, blabla almost no true word in OP.
So the answer is no, don´t make a coin.

Not quite sure why your being so negative towards this thread, care to explain?

The main goal of this thread is to find an answer, not to prove that someone is wrong or right! I'm expressing my opinion, and i'm grateful that you took the time to read it!

Nxt is a scam, node doesn´t work but you made it work, blabla almost no true word in OP.

What exactly are you stating that is untrue??

I think I remember you asked the Node guys to join the development, and they said maybe later. Means no thanks we don´t need you.
And now this thread.

Care to comment?

I think this is the reason for your OP full of lies. Maybe you apllied to NXT too, but cause they didn´t want you, it is a scam, isn´t it.

Ok... still don't understand your arguments... but i guess that somehow you ended up treating me as a foe to NXT - if so, then please accept my sincere apology, as i was only expressing my opinion and i wasn't trying to force it on someone!( I removed the part that apparently made you mad, from the OP text)!

Yes, i did ask the devs of both projects(Node and Cripty), unfortunately Node's developer declined my help as i recall "that they don't need me because they are overstaffed" that is what i got in the PM!!! All my other attempts to help them were completely ignored, but i don't blame them since they have a lot of work to do!
I got a pm from crypti at that time, but unfortunately i had to decline them since the day job engaged in a new project and i din't have enought time to work on the cryptobizz... but i tried to get them to send me their code, so i could check it for bugs... but got completely ignored, as probably they thought i was going to still their project!

I think this is the reason for your OP full of lies

Probably you think that i have some grudge against those Coins or their developers, but you are wrong, i don't! I'm completely okay with both of them, i'm just considering building a coin from scratch, and i need your opinion to do it or not, that's all!

I'm not a hater!

Since you are experienced with these coins, could you point out, what in your opinion are the features that are worth including in a New Gen 2.0 Cryptocurrency??? What would you personally count in such a project?? and what will make you interested in such?

Thank you for your time, and again i apologize for the misunderstanding!

Alrigth, I understood your OP as a rant about these coins.
But ok I let it go.

In my opinion, we have way to much coins, and we don´t need more of them.

But if you are skilled I am sure a lot of projects need your help.
Maybe you should look around at Supernet and join a team or create your own project.
There are plenty tasks. Maybe you can just read around a little bit, join their slack channel, and decide what you want to do.

[davethetrousers]

My advice would be for you to come around the nxtforum and look which subproject you can contribute your talent to.

The more talented people we have here, the faster we get our stuff done and polished. And the less and less excuses people have for not investing

[cDefender]

My advice would be for you to come around the nxtforum and look which subproject you can contribute your talent to.

The more talented people we have here, the faster we get our stuff done and polished. And the less and less excuses people have for not investing

I don't think that this is the best option!

If you are looking to raise something from the ground, it is better to go with a self project! Than trying to mess something that belongs to who knows what mission.

Expecially NXT... so ambiguous!

[Sebastien256]

Expecially NXT... so ambiguous!

Not that ambiguous. Inform yourself and you will see the gain you will get from using the nxt platform. Nxt is very impressive.

[StanLarimer]

Another thing you might consider is doing exactly what the PeerTracks folks are doing.

This is a completely independent company from BitShares, yet they are launching their base asset (NOTES) on BitShares as a User Issued Asset (UIA).  This lets them get started trading early - literally overnight - while they continue to develop their product using an independent clone of BitShares.  And they get to do trades for pennies against BitShares and all its market pegged assets (BitUSD, BitBTC, BitGold, etc).

When the time comes to go operational, they just initialize their block chain's genesis block to match the ownership state of their User Issued Asset on BitShares and they are off and running.

This is a great way to bootstrap a new business model.

(I personally think that the PeerTracks guys will wind up deciding to stay traded on the BitShares exchange for all the reasons I stated on my previous "SuperDAC" post on this thread.  But the point is, they have options and the benefit of all that synergy now.)