Poll result: NXT is a proper cryptocurrency

[Brangdon]

As a currency, well, a currency is a....consensus mechanism for trade/barter between individuals.  In order for it to accomplish that goal, hundreds of thousands, millions, billions of people have to own it.  The fact that most NXT was probably issued to an amount of people you can count on two hands originally, means the coin creator would need to be limited to two brain cells to think that's a valid or good idea.

It has to start somewhere. Nxt started with 72 founders. That's enough people that it doesn't matter if some of them are duds, and few enough to minimise bystander apathy. The problem with coins that launch with thousands of users is that most of those users will sit idle waiting for someone else to make their coins worth something.

Anyway, that's ancient history. It's clear that the Nxt developers have put in a vast amount of work since it was launched; way more than makes sense if it was founded as a scam. And the market price of NXT has been low for long enough that anyone could afford to buy some, so that initial distribution has long been irrelevant. I don't think there's any convincing argument that Nxt is a scam now.

[Brangdon]

this is  non-mineable coins

How is that relevant to whether it is a scam? Mineable coins can equally be scams, because they massively favour early adopters.

and developer can create new coin every day without think about maximal coin

No, they can't. The number of NXT coins is fixed. A developer who tried to change that would not have their software accepted by stakeholders.

(I'm assuming you aren't talking about the Monetary System feature of Nxt, since that's not restricted to developers. And because I doubt your knowledge of Nxt extends to the MS.)

[box0214]

There is obviously a lot of uninformed users. Many are still influenced by the early distribution fiascio and still spreading that info and mainly not understanding how different the nxt ecosystem is right now.

[smoothie]

There is obviously a lot of uninformed users. Many are still influenced by the early distribution fiascio and still spreading that info and mainly not understanding how different the nxt ecosystem is right now.

first impressions are important.

Once there is any shadiness going on around a community it is hard to recover from.

Ask the Solidcoin devs.

[iCEBREAKER]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

[favdesu]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

[iCEBREAKER]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

WTF is an "Instantdex" and why would I want one on my computer?

I'm not installing bloated compromised Oracle.Java crapware just so I can run NXT's bloated crapware on top of it.   

[LiQio]

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

AFAIK Nxt lines of code < Bitcoin lines of code
(with "<" meaning way smaller)

[favdesu]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

WTF is an "Instantdex" and why would I want one on my computer?

I'm not installing bloated compromised Oracle.Java crapware just so I can run NXT's bloated crapware on top of it.   

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

[iCEBREAKER]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

WTF is an "Instantdex" and why would I want one on my computer?

I'm not installing bloated compromised Oracle.Java crapware just so I can run NXT's bloated crapware on top of it.   

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

I looked at a screenshot, it seems Instandex offers no new functionality.  It's just a presentation layer created at exhorbitant cost in terms of attack surface.

Can you explain in a sentence or two what I'm missing?  Or must you resort to great walls of glaze-over inducing techobabble like jl777?

Are you denying Oracle.Java has all kinds of 0days, TLA backdoors, and attack surface in general?

Or do you expect me to just forget all about that because you prefer to gloss over the Java security issue by calling me a troll?

[EvilDave]

Here's a selection of information on Java and its security issues:

https://en.wikipedia.org/wiki/Java_security

https://en.wikipedia.org/wiki/Criticism_of_Java

A comparison of Java versus C++:

https://en.wikipedia.org/wiki/Comparison_of_Java_and_C%2B%2B

Going through all of this brings me to the conclusion that Java could have handled security issues better in the past, but that current Java security is solid (at least until a new exploit is discovered... ). I don't see Java as being much more vulnerable than any other coding language, and so far no-one has managed to come up with (and use) a workable exploit within the Nxt code.
Plenty of talented people have tried to break/exploit Nxt over the last 2 years, but Nxt is secure. (so far   )

On the 'bloated' remark: that's in the eye of the beholder: no coder is ever going to admit to liking another coders work.
take a look at the debate on Bitcoin code for comparison:
https://bitcointalk.org/index.php?topic=225163.0

So, yeah, you can call Nxt 'bloated' but other people take a much different view, one that fits pretty well with your quote:

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

You're totally welcome to hate on Java, but as Java is an industry standard, that's just a matter of personal opinion and taste, like choosing between GM or Ford.

As for InstantDex/SuperNet: these are both Nxt-based projects, so not part of the Nxt core. Criticising Nxt for what SuperNet is doing is kind of like hassling Bitcoin for what Factom gets up to.......or you could even claim that Bitcoin, Litecoin, BTCD and Doge are all crap if you like, as they are also integrated in SuperNet.

[Nxtblg]

NXT is a scam.  It's like Supernet 1.0.  Promises to do everything and then make dinner, but actually still does nothing significant.

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

Also, Java's attack surface...GTFO n00bs.   

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

Instantdex looks very promising, at least what the demo videos show. As far as I know it'll be ready soon(tm)...

WTF is an "Instantdex" and why would I want one on my computer?

I'm not installing bloated compromised Oracle.Java crapware just so I can run NXT's bloated crapware on top of it.   

well, you're calling NXT/supernet scam yet you're not able to do some research to form an educated opinion. am I feeding a troll?

Yep. I fed him a while back on another thread, and he ended up clapping me on the back for being a good sport.

[Nxtblg]

You're totally welcome to hate on Java, but as Java is an industry standard, that's just a matter of personal opinion and taste, like choosing between GM or Ford.

But NO-ONE should buy GM! SCAM! SCAM! BAILOUT!!!! /sarc

[bcdev]

Even if it isn't right now, NXT may become a scam because it is proof of stake and the devs can move/create coins as they see fit.

No, they cannot. Feel free to crack the PoS.
Unlike BTC, NXT has a constant coin amount. 0% inflation.

Also, Java's attack surface...GTFO n00bs.  

Java is an attack vector if it's ran as an applet. Java is used by NXT as a VM, thus it's very secure.
If you want to bitch about java, then keep in mind that many large financial institutions use java for their software.

[BurstIncomeAsset]

NXT is good seriously, but I think BURST has more features, just look what innovation BURST HAS:

Escrow
Subscription
Automatic Payments
HD mining


I dont think BURST will replace NXT, but the two are complimentary and should work together!

[box0214]

NXT is good seriously, but I think BURST has more features, just look what innovation BURST HAS:

Escrow
Subscription
Automatic Payments
HD mining


I dont think BURST will replace NXT, but the two are complimentary and should work together!

tech does look good. but i just did a quick run though of their block explorer and it seems like:

- about 120 pages X 50 address results on each page = 6000 addresses exist with balance of 1+ burst
- about 100 accounts control 1million+ burst
- first page shows the top 15 accounts control 10 million+ burst
- everyone else seems like they have less than 100k or less...


distribution is subjective so its hard to say if its "fair" in one person's view vs another.

[tokeweed]

Definitely not a scam.  But I see no mass adoption of NXT in the near future.  One can even argue that it's failing. 

[Spoetnik]

I think the real question is.. Does anyone think of NXT ..at all ?

[EvilDave]

*puts hand up*
I think about Nxt....probably more than I should 

@tokeweed: It's going to be pretty hard for Nxt to fail, as the Nxt community are (mostly) a bunch of complete fanatics who will carry on working and spreading the word of Nxt until either they get locked up in a nice padded cell or Nxt assimilates the entire financial world......  
This is a definite advantage that a lot of projects don't have, even if we are annoying as f**k sometimes.

@Spoetnik: Happy to see you around again....just like the good old days of 2014 

[tokeweed]

Ok.  Not arguing there.  In fact, I would want to see it succeed to get have an opportunity to make some profit off of it.