What are you thinking about nxtcoin?

[shantell]

Hi everyone,

What are you thinking about nxtcoin? How can premined coin work, how is it distributed?

[hope4me]

How can premined coin work, how is it distributed?

If you mean completly premined, why would anyone use the coin?
Premining is bad in my opinion

[Pitstop]

I hear lots of people have made a killing with it, dumped it and then put their profits into eMunie!

[instacalm]

http://info.nxtcrypto.org/what-is-nxt-by-opticalc/

[FreePls]

What i am thinking about nxtcoin..

hmm...

I moved as fast as possible to the next coin.

[minerva]

A 100% proof of stake coin would only work... with government backing.

[exokk]

thats the one with the most potentional growth for 2014.

[FreePls]

thats the one with the most potentional growth for 2014.

[hypostatization]

Beta.

eMunie is likely its most direct threat, and seems that it will be coming to market with more features.

[Pitstop]

A 100% proof of stake coin would only work... with government backing.

Government backing! Haaaaahaaaaaaa, you're joking right?

[decrypter]

Whenever I read about NXT coin, all the bells and whistles go off alerting me to very high possibility of scam.
Proceed with caution if at all.

From my understanding NXT can be summarized as:

1. Send us your BTC. (It was seeded with 21 bit coins donated from 71 stakeholders according to their wiki. That makes a total input of roughly 16K USD at current BTC prices)
2. In return you get random amount of NXT coin. (Total of 1 billion NXT coins were generated from the input of 21 bit coins)
3.
4. Profit ! $$$ (The real question to ask is why did they even need the 21 bitcoins to start with. Nothing prevented them from premining the 1 billion next coins)

Furthermore NXT coin is only traded on a shadey exchange dgex, making it even more suspicious than it already is.
Finally the forums are awash with a bunch of mumbo jumbo about technical details of NXT. Really, I don't know who has the time to read all of it. And I'm not sure why they inundate the forums with that stuff.
There is even a thread here where they are discussing their code, like this is their personal bug tracking forum or something. Its rather annoying.

Anyway. I'll probably get flamed to hell by all the NXT supporters. So: *flame retardant suit on*

[gvans]

Finally the forums are awash with a bunch of mumbo jumbo about technical details of NXT. Really, I don't know who has the time to read all of it. And I'm not sure why they inundate the forums with that stuff.
There is even a thread here where they are discussing their code, like this is their personal bug tracking forum or something. Its rather annoying.

Now is that a bad or a good sign I wonder A genuine new code to discuss. Now I'm with you there about "mumbo jumbo" since I don't know coding. But it's a good sign for me. Seems like there is real interest in the architecture of nxt instead of using existing bitcoin-litencoin variations and discussing basically in which pool to mine. Innovation is what we need and it seems that cryptocurrency development is in exponential growth. Environmentally unfriendly mining is the thing of the past and we cannot have a clue what some masterminds and geniuses already have been developing. So yes, I am optimistic about nimble minds.