What happened to Nxt millionaires?

[d5000]

many flaws in the concept itself as well.

Can you clarify where do you see flaws in the Nxt design? (It actually does interest me). For me, the only problem is that it's a bit monolithic. Perhaps it should be more modular. But I'm no expert, I haven't studied the code (and I don't speak Java haha).

Do these "flaws" apply to Nxt 2.0 too?

[K210]

NXT has no real world applications for the average user, this combined with its use of java killed it

[d5000]

NXT has no real world applications for the average user

That is nothing that cannot change from one moment to another. In my opinion, NXT is simply in a little depression, like Bitcoin in 2014.

NXT is not only "financial tools" and "asset exchange". There is also the Marketplace, the first working decentralized marketplace for non-financial goods and services (or payment processor, like you want) of all cryptocurrencies. There is Coin Shuffling.

Also the "monetary system" is not a bad idea. It can be used for games or by businesses. Sure, the NXT transaction fee is a big flaw. That's why Nxt 2.0 is being developed.

Regarding "real world shops", there is really a deficit, but that can change. NXT is still integrated into the CoinPayments payment processor which makes adoption very easy.

(And no, I'm not a NXT millionaire )

[gentlemand]

Considering I hardly ever remember seeing daily volume more than a few tens of thousands of dollars I think we're mainly talking paper millionaires. Having said that it would still have been a very, very nice drip feed of profit while it lasted. I used NXT for a while. Being a non techno weenie I found it pretty agonising to use. It took six hours to get them on an exchange. Dunno if that was the exchange's fault.

[d5000]

It took six hours to get them on an exchange. Dunno if that was the exchange's fault.

I guess that should have been a problem with the exchange. I have also used NXT many times and this never occured to me. Most of the NXT I sent to or from an exchange in 30 minutes (often in 15 or less) were there and had the necessary confirmations.

There was, some months ago, a problem in the blockchain related to the difficulty that led to a timeframe between blocks of 10 to 20 minutes (only for a short time lapse). This problem has apparently been fixed now (I think it was in NXT 1.7).

[DecentralizeEconomics]

the NXT transaction fee is a big flaw. That's why Nxt 2.0 is being developed.

I'm curious as to what the "big flaw" is?

[durerus]

That user needs NXT to spend his MS token.

[ShroomsKit_Disgrace]

So, is this thread summarizing the currently (and probably future) feeling about NXT?

[DecentralizeEconomics]

That user needs NXT to spend his MS token.

Really?  That's the "big flaw"?  That a user has to pay a tx fee in NXT?  NXT is supposed to be a transactional currency.

[d5000]

That user needs NXT to spend his MS token.

Really?  That's the "big flaw"?  That a user has to pay a tx fee in NXT?  NXT is supposed to be a transactional currency.

I think it's a serious usability flaw, and it seems to have made unattractive the NXT monetary system.

For regular (non-technical minded) users, a currency that needs an auxiliar transactional currency to work is way more difficult to understand than a system where the fees are in the same currency. Every MS Currency user must have two accounts to be able to send transactions. Imagine MS game currencies: Most gamers don't care about cryptocurrencies (they're often very young), and they shouldn't have to understand it in detail to use it.

So the "fee-in-MS-currency" approach of NXT 2.0 seems superior to me than the actual approach.

[Moneroman88]

That user needs NXT to spend his MS token.

Really?  That's the "big flaw"?  That a user has to pay a tx fee in NXT?  NXT is supposed to be a transactional currency.

The anonymous characater DecentralizeEconomics aka 2Kewl4Skool is still posting. Congratulations on winning against the ban evasion.

You really are special but still not noteworthy.

[durerus]

That user needs NXT to spend his MS token.

Really?  That's the "big flaw"?  That a user has to pay a tx fee in NXT?  NXT is supposed to be a transactional currency.

The big flaw is bloat and scalability.

[wwdz99]

NXT actually be undervalued,what a pity!

[LiberOptions]

I don't know if anyone got lucky and became a millionaire with Nxt... I do know that a lot of people amde some money but they didn't got rich.

[Tinus]

reading this is quite funny, considering nxt's to the moon right now

[Enjorlas]

reading this is quite funny, considering nxt's to the moon right now

The moon? No, not quite. More like on a gentle hill. The moon will come later.

[tastyhaze]

I don't know if anyone got lucky and became a millionaire with Nxt... I do know that a lot of people amde some money but they didn't got rich.

LOL you must be joking my friend.



https://i.imgur.com/kJDggFm.jpg
https://i.imgur.com/H3A5nbU.jpg

[From Above]

I don't know if anyone got lucky and became a millionaire with Nxt... I do know that a lot of people amde some money but they didn't got rich.

LOL you must be joking my friend.

The initial investors of NXT, especially those few that invested like 1 BTC got VERY much rewarded with riches indeed,   definitely millionaires.

I think it's the biggest story of gain there ever was in crypto land - only NEM comes close in gains (but not as "overnight" as NXT).

~CfA~

[gentlemand]

Looks like their moment in the sun is returning. I wonder how many stuck around and how much better the distribution is now. If this new coin depends on wallet balances it may get considerably worse. There's a ton of ETH money looking for a home.

[killerjoegreece]

on a sidenote burstcoin is based on nxt