Poll result: NXT is a proper cryptocurrency

[nexern]

...So either NxT has practically no new adoption and early investors are slowly dumping or NxT has steady
adoption and the early investors are dumping heavily. There is no escaping this fact...

true and both isn't optimal ofc but what i am missing here is a clear distinction between
initial adoption/usage problems and the objective potential nxt have compared to other platforms.

just saying nxt have a adoption problem due to it's initial distribution and therefore is a scam
makes no sense at all. ignoring and boykoting a provable good piece of cryptotech is very shortsighted
and counterproductive for the whole cryptomovement too.

this is one reason i am ranting in monthly intervalls, since beginning, to concentrate on the external market
and  stop trying to convince the cryptosphere to take an unbiased look to nxt, this won't work.*

nxt has everything to serve the external market and it is the only 'now available' crypto-swiss-knife able to
roll out many very usefull solutions, unfortunatly this doesn't happend in the past but this will change.

adding merchants doesn't solve anything, this is a tale.

*nxt perception within cryptosphere is to infested by historical grown envy, greed and misleading informations.

[RealBitcoin]

IMHO ... NxT setting itself up as a financial platform where people can be scammed with crypto-equities and assets is a foolish plan which only benefits short term grifters. Associating with these questionable assets will leave a longterm stain upon NxT and is a marketing nightmare.

But you are inconsistent, and the same can be applied to the internet. First websites setup could have been scams, and there are still scam websites out there.

You cannot eliminate scams, they will always be there. People just need to fucking learn to do their research before investing. Otherwise they will be scammed every minute of their lives.

It's not my fault that people are gullible idiots, but i dont want my currency to get fucked just because people are gullible idiots, they should man-up and start researching.

The key to NxT's success would be slow, organic growth and merchant and user acceptance by playing to its strengths with insuring that it grows steadily. NxT has a huge advantage over bitcoin with no inflation and extremely minimal security costs with PoS which may not be as secure but possibly might be "good enough". All it takes is the 20 top bagholders to stop dumping their coins and it would be trivial to have slow and sustained growth which would be more attractive than bitcoins volatile bubbles. Even with slow adoption this would be trivial to do because there is no inflation and PoW costs.

NXT's marketplace and community is not that big yet so there is no reason why merchants should adopt it.

Create a magnet in NXT ,with the new innovations, I personally think gambling is the one needed, and people will join.

After the userbase is big, you will have merchants adopting it.


Its a 3 step process you cant just skip them.

[BitUsher]

just saying nxt have a adoption problem due to it's initial distribution and therefore is a scam
makes no sense at all. ignoring and boykoting a provable good piece of cryptotech is very shortsighted
and counterproductive for the whole cryptomovement too.

I have repeatedly said otherwise and don't believe NxT is a scam in itself. This doesn't remove the concerns and risks of initial distribution which is plaguing NxT right now. The fact remains that some initial investors are dumping there practically unlimited bags on exchanges for over a year now. The initial distribution was so poor it insures there are enough large bagholders to do this for many years before they run out.

Poor initial distribution isn't a problem in itself as long as the early investors are independently wealthy and can reframe from sabotaging their own currency. This apparently isn't the case with NxT where some of the initial investors either have no faith in the currency longterm or cannot afford to hold onto their distribution during the initial years.

adding merchants doesn't solve anything, this is a tale.

Merchant adoption is extremely important as it gives credibility and use for the currency. Using indirect tricks to spend your coins like shapeshift do nothing to support your currency as all the coins are dumped on the exchange for BTC and/or Fiat. It also doesn't help that the user is taking an exchange hit on all purchases when using these tools. There is also the PR problem involved where the cryptocurrency space is filled with scams, this problem isn't limited to NxT and also includes Bitcoin, but at least Bitcoin has a large pool of legitimate merchants.

The first step is to grow merchant and user acceptance. The second step is to have those merchants slowly start reusing the cryptocoin instead of dumping it 100% for Fiat and saving some.

You cannot eliminate scams, they will always be there. People just need to fucking learn to do their research before investing. Otherwise they will be scammed every minute of their lives.

This doesn't remove the fact that the NxT community is focused on marketing itself as a financial platform to invest in assets and equities instead of focusing on slow and sustained merchant acceptance where actual goods and services are sold and not scams.

Its a 3 step process you cant just skip them.

Yes, but the approach and pitch isn't to grow merchants but to create a platform to facilitate competing tokens, assets, and equities. You guys are sabotaging yourself to line the pockets of those that are pitching these cryptoequities promising false dreams instead of focusing on slow and sustained growth with real businesses.

[achimsmile]

NxT setting itself up as a financial platform where people can be scammed

Name 1 decentralized financial platform where people cannot be scammed.

[BitUsher]

NxT setting itself up as a financial platform where people can be scammed

Name 1 decentralized financial platform where people cannot be scammed.

Non-sequitur. I have repeatedly stated that bitcoin marketplace is filled with scams and fraud. Please address my concern with the marketing pitch the NxT community is driving at which is focused on using NxT as a financial platform to create these "crypto-assets" vs other approaches you can take which focus on merchant adoption with real businesses. At least Bitcoin has a large base of legitamant merchants that give a small sense of legitimacy to it.

Please explain to me why focusing on adopting real merchants that sell real goods and services is a bad approach?

[RealBitcoin]

This doesn't remove the fact that the NxT community is focused on marketing itself as a financial platform to invest in assets and equities instead of focusing on slow and sustained merchant acceptance where actual goods and services are sold and not scams.

Hey i`m not a part of NXT marketing team so I`m not the best person to complain to about NXT's marketing approach.

If you have a problem with NXT's marketing approach then talk to the marketing team lead by:
https://bitcointalk.org/index.php?action=profile;u=199362

I personally think its a good way to highlight the best features of NXT, and yes some people want to invest in those assets, so why not focus on that?

If the investor does his due diligence then he wont be scammed.

Yes, but the approach and pitch isn't to grow merchants but to create a platform to facilitate competing tokens, assets, and equities. You guys are sabotaging yourself to line the pockets of those that are pitching these cryptoequities promising false dreams instead of focusing on slow and sustained growth with real businesses.

I havent invested in any of those yet, but there are some good assets there that could be worth alot later on.

Not everything is a scam, so dont be so pessimistic about NXT.

[BitUsher]

I havent invested in any of those yet, but there are some good assets there that could be worth alot later on.

Not everything is a scam, so dont be so pessimistic about NXT.

I would be interested to hear of any NxT assets that represent shares in credible and legitimate businesses producing real goods or services with an existing client base.

There is an inescapable dilemma with pitching and investing in crypto-equities/assets. It is almost impossible to create legitimate ones as the legal costs are too high. Purchasing shares in a "company" without the right legal protections is extremely dangerous as there are no safeguards (technological or legal) in place to insure that your shares represent any real ownership in tangible assets of the company whether they are physical or intellectual.

Crypto-currencies can have intrinsic value because the community finds value in their usefulness and are incentivized to support the longterm development and stability of the coin. NxT and Counterparty(many more examples) make it easy to create assets/tokens where companies are incentivized to scam their victims and simply create another asset to repeat. The only way to avoid this is either with legal protections or remove the anonymity of the project maintainers and have real brick and mortar businesses behind these assets. 

[RealBitcoin]

I havent invested in any of those yet, but there are some good assets there that could be worth alot later on.

Not everything is a scam, so dont be so pessimistic about NXT.

I would be interested to hear of any NxT assets that represent shares in credible and legitimate businesses producing real goods or services with an existing client base.

There is an inescapable dilemma with pitching and investing in crypto-equities/assets. It is almost impossible to create legitimate ones as the legal and liability costs is too high. Purchasing shares in a "company" without the right legal protections is extremely dangerous as there are no safeguards (technological or legal) in place to insure that your shares represent any real ownership in the assets of the company.

Again i`m not the best person to ask that question. Ask the more senior NXT members that have invested already.

But everything comes down basically to trust. In the crypto "wild west" as where we are now, the most important thing is trust and good background. If that is in place then everything is ok.

Real companies dont offer any more protection than crypto ones, its just the illusion created by bureocracy. All it ever matters is trust.

[achimsmile]

The marketing pitch the NxT community is driving at which is focused on using NxT as a financial platform to create these "crypto-assets" vs other approaches you can take which focus on merchant adoption with real businesses.

Faulty generalization.
Keep in mind that it's a decentralized community


Anyway, the biggest Nxt marketing campaign does not really focus on what you are saying:
https://nxtforum.org/general-discussion/(marketing-business-and-development)-the-tennessee-project-fundraiser

[BitUsher]

The marketing pitch the NxT community is driving at which is focused on using NxT as a financial platform to create these "crypto-assets" vs other approaches you can take which focus on merchant adoption with real businesses.

Faulty generalization.
Keep in mind that it's a decentralized community


Anyway, the biggest Nxt marketing campaign does not really focus on what you are saying:
https://nxtforum.org/general-discussion/(marketing-business-and-development)-the-tennessee-project-fundraiser

Accurate generalization. (Of course its a generalization and doesn't represent all efforts) Look at the marketing of most of its proponents and most websites for NxT. I am simply discussing what is being represented and pitched.

Finding lists and directories of NxT asset scams is trivial and abundant. Finding comprehensive lists of real merchants accepting NxT is a difficult task indeed. I understand it is a difficult task to undertake... but NxT investors who own businesses could at least accept the coin as a show of solidarity. Are there are least 50 people in your community who own their own legitimate business? If not this is a troubling sign of lack of adoption.

I don't see much discussion of focusing on real merchant adoption within the tennessee-project-fundraiser. Appears to be akin to the creation of a "Bitcoin Foundation" or coincenter.org to pitch Nxt.... but perhaps in time they will rewrite their marketing material to focus on real merchants instead of crypto-equity scams. Just some marketing advice , take it or leave it.

[EvilDave]

The problem with aiming purely at merchant adoption is that almost no-one uses crypto-currency to buy legal stuff....just ask Overstock.

The Tennessee marketing campaign is going to be aimed at getting real (or at least non-scammy   ) businesses on to the Nxt blockchain.
These businesses can then concentrate on marketing their services (and indirectly Nxt) to their customers.
Simply marketing Nxt as Nxt to end-users directly makes little sense right now.

We've just helped to set up a mini-crypto economy on a small Greek island:
https://www.zapchain.com/a/l/islanders-of-agistri-test-pilot-the-drachmae-digital-ecosystem-and-digital-money-nautiluscoin/
And what did we learn : most people are not ready for full-on crypto use.
Drachmae even took the entire blockchain and client issue out, by using an SMS based transfer system, but even that was too complex for some people.

I'm not saying that we will never see widespread crypto adoption by the average Joe....but we have a long way to go, and I reckon that aiming at the business market is a better strategy right now.

[BitUsher]

The problem with aiming purely at merchant adoption is that almost no-one uses crypto-currency to buy legal stuff....just ask Overstock.

I only buy legal items with cryptocurrencies. My spending behavior is more than half btc and 100 % legal items. I have nothing against people buying drugs or prostitutes with crypto-currencies but that isn't what I'm into so its nice being able to use a currency for legal items.

Perhaps Nxt should have a purse or gyft equivalent so their users don't have to get hit with an exchange fee with every transaction?

[TinEye]

It isn't going anywhere. Time was when it used to shuttle between 4000 and 8000 and there was easy money to make. I think the penny has dropped for some of the big holders and they are slowly exiting.

[DecentralizeEconomics]

The platforms of choice this year are ETH, rootstock.io, Bitshares, and others.

[iCEBREAKER]

The platforms of choice this year are ETH, rootstock.io, Bitshares, and others.

You seem very upset about NXT being made obsolete by ETH, rootstock.io, Bitshares, and others.

Why is that?

Is it because you invested more than you can afford to lose in NXT and its shitty derivative scam-assets?

I recommend you sell now, while there is still an "impressive" 50 BTC in bids at Poloniex.

If you do not, I will be here to remind you what a foolish course of action getting married to your NXT bag was.

[skeet]

It isn't going anywhere. Time was when it used to shuttle between 4000 and 8000 and there was easy money to make. I think the penny has dropped for some of the big holders and they are slowly exiting.

That's probably the reason why the price keeps going down.

[EvilDave]

You seem very upset about NXT being made obsolete by ETH, rootstock.io, Bitshares, and others.

Why is that?

Is it because you invested more than you can afford to lose in NXT and its shitty derivative scam-assets?

I recommend you sell now, while there is still an "impressive" 50 BTC in bids at Poloniex.

If you do not, I will be here to remind you what a foolish course of action getting married to your NXT bag was.

Sorry, iCE...do some research. None of the above are in direct competition with Nxt.
(well, there is some overlap, but not enough to be relevant. We are going to see a future with multiple blockchains, get used to it)

[iCEBREAKER]

We are going to see a future with multiple blockchains, get used to it)

I'm used to alts, EG, I was mining LTC years before you showed up to shill for the NXT scam-platform.

NXT is not needed for the present's multiple blockchains, much less the future's.

But I'll indulge you.

Tell us all about the amazing tricks NXT can perform that (Turing-complete) ETH cannot.

I bet we see distributed poker working on ETH before the Pangea-on-3-second-blockchain-on-Supernet-on-NXT stack of shitprojects is done.

[BitUsher]

We are going to see a future with multiple blockchains, get used to it)

It is difficult to quantify how many NxT users exist.
On the Nxt forum there is a stat that 509 was the most online ever , but because of the severe decrease in volume and market cap adoption may have reversed. I would guess there is at least 500 - 2000 Nxt investors now with 7-20 with very large purses. Most of these rarely use the currency but that is enough of a userbase to insure NxT stays around for many years. Whether or not NxT will continue to slide in crypto-currency marketshare is another story however. I would suggest that they likely will become less relevant and even bitcoin will face some stiff competition from certain government and corporate blockchain currencies about to come out.

We definitely have some interesting years ahead.

P.S.. Are there any regulated NxT exchanges with full KYC to give use a better idea of user adoption? BTC has coinbase where we can estimate over 4+ million based upon their KYC and the fact that the largest adoption is happening outside of their jurisdiction.  

[iCEBREAKER]

On the Nxt forum there is a stat that 509 was the most online ever , but because of the severe decrease in volume and market cap adoption may have reversed.

Adoption has definitely reversed.

18 months ago, there was a brief wave of hype.  That hype and pump are long over.  Since June 14, the price has been plummeting.

http://coinmarketcap.com/currencies/nxt/#charts

The conceit that NXT has any permanency and is Here To Stay is absurd.

SuperNet, the scam platform built on NXT's scam platform, is likewise dying because its hype and "investments" never produced anything of value:

http://coinmarketcap.com/assets/supernet-unity/#charts

There is no likely scenario where this trend turns around.

Every day Bitshares, ETH, and rootstock.io spend coding is another day NXT's status as obsolete abandonware is confirmed.