Why is NXT not the number 2 coin?

[Hollowman338]

shitcoin ... period.

ARCH is a shitcoin.

CRAVE is a shitcoin.

TRON is a shitcoin.

Most anything with the classic parabolic blow-off pattern on bittrex is a shitcoin.



NXT may very well surpass bitcoin.

[box0211]

not if ethereum beats then to it. they do have a rally of devs sold on there platform.

[capodieci]

Seriously, NXT is the best coin.

Not forked from BTC, it is quite impressive to use. The HTML wallet will blow you away. Features like the Asset Exchange are unbelievable, and the level of general development from so many in the community is astounding. I'm definitely hodling this coin.

Yes, the initial release was extremely unconventional. So was Dash's - and it's number 4.

If you haven't before, please just check it out:
http://jnxt.org:7876/index.html (online wallet)

or go to the site: nxt.org

^^^^ That!

[capodieci]

I have one word for you

marketing.

This.  I think they should focus more on getting developer-entreprenuers to build on top of NXT than spending time marketing it here at the useless people of the BTT altcoin section. 

NXT is something you just don't rule out.  Their team and community seems determined to see it through whether success is attained or not.  That's good to see.

http://debune.org
Will run on Nxt blockchain

https://jetcoininstitute.com/
Will run with Nxt technology

[El Dude]

NXT was distributed to 5 people that were pretending to be  70 people and this is why NXT is a shitcoin.

[sidhujag]

Being considered in the ESMA report does not seem very bad:

http://www.esma.europa.eu/content/Investment-using-virtual-currency-or-distributed-ledger-technology

Ya man, they took a good look at the CoinMarketCap Asset List.

http://coinmarketcap.com/assets/

Let's see:

NXT................... 37 assets all types/sizes, 60 sec blocks, liquid exchange, rock solid platform (I've done > 200 trades with zero issues)
Counterparty.......  7 assets, but near zero liquidity, 10-20 minute block times, down a lot just when you need it
Bitshares............  5 hedging assets, Wall Street ETFs and options will make these primitive tools irrelevant
Mastercoin.........   2 assets, but it's really all the controversial MAID vapor-PO
Nubits...............   who knew Jordan and his friends would sell a virtual Fed to the rubes?

Bitshares has 10sec block times with dpos and bitusd etc nxt doesnt have pegged assets only user issued assets.. Big lead for bitshares over nxt.. Nxt has better ui web wallet thats about it. Bitusd means you can essentially trade usd on blockchain.

[DecentralizeEconomics]

Being considered in the ESMA report does not seem very bad:

http://www.esma.europa.eu/content/Investment-using-virtual-currency-or-distributed-ledger-technology

Ya man, they took a good look at the CoinMarketCap Asset List.

http://coinmarketcap.com/assets/

Let's see:

NXT................... 37 assets all types/sizes, 60 sec blocks, liquid exchange, rock solid platform (I've done > 200 trades with zero issues)
Counterparty.......  7 assets, but near zero liquidity, 10-20 minute block times, down a lot just when you need it
Bitshares............  5 hedging assets, Wall Street ETFs and options will make these primitive tools irrelevant
Mastercoin.........   2 assets, but it's really all the controversial MAID vapor-PO
Nubits...............   who knew Jordan and his friends would sell a virtual Fed to the rubes?

Bitshares has 10sec block times with dpos and bitusd etc nxt doesnt have pegged assets only user issued assets.. Big lead for bitshares over nxt.. Nxt has better ui web wallet thats about it. Bitusd means you can essentially trade usd on blockchain.

They're derivatives contracts!  Stop lying to people!  Your "bitUSD" isn't actual USD.

[JReag]

I think most people miss the great strength which is a downwards swing in prices. $1300 for bitcoin is pretty intimidating compared to $230.

Likewise, 10 cents for NXT would be a little hard for most people to swallow given both its level of adoption and its lack of user friendliness for the less technologically knowledgeable.

As such, during these low price high development and innovation periods, the lower price actually helps to disperse the holdings more evenly. In fact, if nxt dropped to a 5 million market cap I'd just see it as a good thing. Why not? It's a cheaper investment that I would still believe holds a lot of strength.

If Maidsafe dropped to .4 cents I'd feel relieved that I could put my money behind a project I believe had good qualities at such a low price.

So why isn't NXT number 2? Because it's easy to look at these platforms in absolute numbers. What's the valuation in the market? What are people willing to pay for it? Just slap that into the total supply and BOOM - easy ranking.

Naturally, this approach misses out on many key differences between the competing platforms and therefore doesn't reflect long term strength.

I think that by now, anyone convinced by NXT or any pet project of their choice is going to be behind with a maddening fervor. Good - that's what our crypto space needs to grow. Yes, we need to advertise and really collaborate to push the boundaries of this technology - but that's why we have alt coins and competition.

Ultimately, regardless of whatever coins I hold, I just want those who back a truly decentralized monetary model to win. Would I like to be rich from the bags I hold? Hell yes I would. Do I think I will be as deduced via my own specific reasons about specific reasons? Absolutely. But even in the outcome I'm left holding a bag of dirt - I. Still. Win.

Why? Because I get to stop facing financial torment as its mismanaged by central planners who don't face any repercussions from their policies.

So I hope the rest of the crypto space goes full blow fanatical about any sustainable project. And remember - something throwing shit at whatever platform you adore the most ain't a bad thing. Why would it be? IF you really believe in the platform and team then it can weather any shit you try throwing at it cause it's the real deal.

[tokeweed]

NXT was distributed to 5 people that were pretending to be  70 people and this is why NXT is a shitcoin.

I read this a lot, but it has never been proven.

[DecentralizeEconomics]

NXT was distributed to 5 people that were pretending to be  70 people and this is why NXT is a shitcoin.

I read this a lot, but it has never been proven.

Exactly.  El Dude's statement is a load of BS.  I'd like someone to try to prove it.

[El Dude]

NXT was distributed to 5 people that were pretending to be  70 people and this is why NXT is a shitcoin.

I read this a lot, but it has never been proven.

Exactly.  El Dude's statement is a load of BS.  I'd like someone to try to prove it.

It doesn't need to be proven all IPO coins are scams but here you go

Actually the distribution is way worse than that.  We were initially told, for a long time, that it was 20 wallets who invested the 1.5 BTC limit and took 80% of NXT.  

http://nxtcoin.blogspot.ca/2014/06/how-nxt-changed-our-lives-james.html

Then James, who is a developer for NXT, only admitted a month ago that it was actually only 8 wallets who invested the full amount and took almost half of all NXT.  There was no taint analysis and we can't even ascertain if any real BTC was actually put in among those 8.  We can only name like 4 NXT whales on the top of our heads and it's quite likely at least one of them had multiple sockpuppets in the IPO.  

So in a nutshell easily 30%+ of NXT was owned by one person at some point, it's guaranteed, and then maybe another 5-10 people owned another 60%.

It's very easy to get a huge capitalization if you own all the coins, just look Marine Coin, Neutrino, Ripple, et cetera.  The difference is the NXT people kept the distribution a secret until January / February and by then they had plenty of BTC reserves to create artificial volume anytime they wanted.

I remember once pointing out that NXT itself had less volume than its' assets and as soon as I made that post, I kid you not, the day after they pumped the NXT volume to $120K.

[Daedelus]

A vintage argument indeed! I don't even have to retype anything  

Actually the distribution is way worse than that.  We were initially told, for a long time, that it was 20 wallets who invested the 1.5 BTC limit and took 80% of NXT.  

http://nxtcoin.blogspot.ca/2014/06/how-nxt-changed-our-lives-james.html

Then James, who is a developer for NXT, only admitted a month ago that it was actually only 8 wallets who invested the full amount and took almost half of all NXT.  There was no taint analysis and we can't even ascertain if any real BTC was actually put in among those 8.  We can only name like 4 NXT whales on the top of our heads and it's quite likely at least one of them had multiple sockpuppets in the IPO.  

So in a nutshell easily 30%+ of NXT was owned by one person at some point, it's guaranteed, and then maybe another 5-10 people owned another 60%.

It's very easy to get a huge capitalization if you own all the coins, just look Marine Coin, Neutrino, Ripple, et cetera.  The difference is the NXT people kept the distribution a secret until January / February and by then they had plenty of BTC reserves to create artificial volume anytime they wanted.

I remember once pointing out that NXT itself had less volume than its' assets and as soon as I made that post, I kid you not, the day after they pumped the NXT volume to $120K.

You could have just quoted the article:

There were 8 full BTC investors that each got 50 million NXT. The rest of 73 got mostly much smaller amounts. I cant say for sure, but I believe half a dozen of the original 8 (I am not sure who the other two are) have given away or sold off half or more of their 50 million along the way. It is simply a very hard thing to not cash out hundreds of thousands of dollars of profits! The smaller holders have most likely sold an even larger percentage on average than the half dozen..  There are probably a couple dozen early adopters who purchased 10 to 50 million NXT on the open market. I would say less than 50 of the original 73 and early adopters who got it at 1 BTC per million NXT (!!) still have more than 10 million NXT. probably less than half a dozen still have 50 million and most of those would be the early adopters and not the original founders. So roughly 25 USD millionaires at current 6 cent prices would be my guesstimate. Most of these are down to their long term core holdings and most likely wont sell at any price, short of $1, cuz they already have all the fiat they need. Whats the rush, especially now that NXT is where it is? This means the active liquid NXT is probably around 250 million total, which is still plenty especially with the normal trading volumes of 1 million NXT per day. The deck has already been shuffled, I dont believe there is any organized coalition that can come up with more than 10% to 15% of all NXT. If you know people, you will know how hard it is to get any half dozen to agree on anything! I dont believe any other crypto has this level of dispersion

TL:DR - the original investors have most likely sold off more than half of their stashes, that is what the trail in the blockchain leads too.

Actually, everyone save us the trouble and just go read that thread  

I especially like the bit about "keeping the distribution secret"   Anyone find any evidence for this in a transparent blockchain and BTT thread giving a blow by blow historic account of the time before genesis creation? Vintage UtopianFuture babble   Good times.

[BIT-Sharon]

I wonder too.

[Sonny91BE]

I have one word for you

marketing.

I 100% agree with this. The NXT community has insane features and great worth and development but absolutely zero marketing in what they do. However in my opinion this will better as all coins come and go I think NXT is doing good even though the coin may be undervalued a lot I still see it becoming stronger month after month !
People will start to implement it more as they notice how many good features there actually are made around the platform !

I'm personally a fan of it together with bitcoin ! . Only 2 things I invest in in the crypto world so far. Very conservative.

[Este Nuno]

Actually the distribution seems to have turned out pretty well for NXT from what I can tell. Lots of people interested in NXT it seems and a steady stream of new interest in it since launch.

1.5 years of open market trading has seen a lot of NXT change hands.

What I've learned over the years anyway is that the most important thing with crypto distribution isn't how many people it gets distributed to, but instead who adds the most value to the economy. Either by funding projects that add value or using their funds as an incentive to work to grow the ecosystem. Incentives matter.

Distribution happens naturally anyway via an open market as the market cap grows. Eventually the goal is to have more money coming in than going out. At this point the only way that's likely going to happen is by people building services and business on top of the platform. The only major problem NXT has now is that hardly anyone really understands what it is or what it can offer people. That should begin to change gradually over time though.

[sidhujag]

Being considered in the ESMA report does not seem very bad:

http://www.esma.europa.eu/content/Investment-using-virtual-currency-or-distributed-ledger-technology

Ya man, they took a good look at the CoinMarketCap Asset List.

http://coinmarketcap.com/assets/

Let's see:

NXT................... 37 assets all types/sizes, 60 sec blocks, liquid exchange, rock solid platform (I've done > 200 trades with zero issues)
Counterparty.......  7 assets, but near zero liquidity, 10-20 minute block times, down a lot just when you need it
Bitshares............  5 hedging assets, Wall Street ETFs and options will make these primitive tools irrelevant
Mastercoin.........   2 assets, but it's really all the controversial MAID vapor-PO
Nubits...............   who knew Jordan and his friends would sell a virtual Fed to the rubes?

Bitshares has 10sec block times with dpos and bitusd etc nxt doesnt have pegged assets only user issued assets.. Big lead for bitshares over nxt.. Nxt has better ui web wallet thats about it. Bitusd means you can essentially trade usd on blockchain.

They're derivatives contracts!  Stop lying to people!  Your "bitUSD" isn't actual USD.

Its not my bitusd. There are gateways which accept bitusd and give usd.. the value of
bitusd is pegged to usd and has been for 6 months. Thus I said essentially please reread and give more thought before responding.

This is a big advantage of bitshares over nxt.

[Daedelus]

There are gateways which accept bitusd and give usd

Link?

[the joint]

I think it's mostly due to first-mover advantage, and due to the community's perception that Bitcoin is "good enough." 

[sidhujag]

There are gateways which accept bitusd and give usd

Link?

https://metaexchange.info Off top ofhead for usd and i developed this site http://cryptosmith.info for gold and. Silver gateway

[Daedelus]

There are gateways which accept bitusd and give usd

Link?

https://metaexchange.info Off top ofhead for usd and i developed this site http://cryptosmith.info for gold and. Silver gateway

The link only shows pairs for BTC. Where is bitUSD/USD?