[ANN] Nxt :: descendant of Bitcoin

[BCNext]

I would like to hear your feedback on https://bitcointalk.org/index.php?topic=316104.0 (Instant transactions with guaranteed confirmation)

[Geo_log]

You will not get the bitcoins back in any case so temptation shouldn't be taken into account.

- Yes, I'm fully aware, that I won't get bitcoins back, and I'm not talking about my temptation, but about yours - when, say, 300 people send you, say, ~20 transaction of 1BTC each, total 6000BTC  - will you be able to resist the temptation to disappear with this $1'000'000?

The raised funds will be spent for further development

- no problem (although you have said "All services were promised to be developed free of charge" on 2013-10-19, 18:33:53), if further development needs, say, 200BTC, you can distribute Nxt equally to the first 1000 forum members (with >1 month old account and > 30 posts), which send you 0.2BTC via blockchain.info.

It's a terrible idea to distribute NXT equally to the first 1000 forum members.  There are so many sockpuppets here.

- that's why I said "to forum members with, say, more then 1 month old account, and with more then 30 (or 50, or ..) posts".  Maybe there exists a more interesting idea of the finite distribution of the stakes.

[BCNext]

Yes, I'm fully aware, that I won't get bitcoins back, and I'm not talking about my temptation, but about yours - when, say, 300 people send you, say, ~20 transaction of 1BTC each, total 6000BTC  - will you be able to resist the temptation to disappear with this $1'000'000?

Could you explain what you mean when say "disappear"?  In the OP I stated that "BCNext" is my second BitcoinTalk account.  I made it to be anonymous, noone needs to "disappear" if their identity is unknown.

no problem (although you have said "All services were promised to be developed free of charge" on 2013-10-19, 18:33:53), if further development needs, say, 200BTC, you can distribute Nxt equally to the first 1000 forum members (with >1 month old account and > 30 posts), which send you 0.2BTC via blockchain.info.

All service == faucet + currency exchange + stock exchange + virtual goods store.  They are listed in the OP.
I do need funds to launch some other projects, but it's too early to tell about them.  Frankly speaking I need these bitcoins to start the development and then I expect Nxt price to skyrocket (when users see Nxt has a lot of superior features like reliable instant transactions). Then I sell some of my nxts to get the rest of the money.

that's why I said "to forum members with, say, more then 1 month old account, and with more then 30 (or 50, or ..) posts".  Maybe there exists a more interesting idea of the finite distribution of the stakes.

There are a lot of well-maintained sockpupets with 1+ year history and 100+ posts.

[bybitcoin]

it is counterproductive for early participants, because their share in Nxt will be significally reduced with new participants coming.

At the first look it feels so, but this is utterly wrong. If Nxt fail to receive a lot of participants and hands in, the coin will die since it plans to be a pure POS coin.

This initial distribution scheme provokes people to send more and more of BTC, until the anonymous author did not resist the temptation and decides to disappear.

That's why I asked him to put a cap, it is 1 BTC now.

If the author does not want to rip people off, he should change the distribution scheme for less provocative. For example, distribute Nxt equally to the first 1000 forum members (with >1 month old account and > 30 posts), which send 0.01BTC via blockchain.info.

It doesn't work, because of sockpuppets and also in general there might be people out of this forum who may want to get in.

To BCNext: as a side suggestion I think putting let's say 1 million of coins aside and making a giveaway thread to offer people some coins for their attempts of spreading the name and theme of this project and coin would be very effective to bring more people in. You can make a poll to ask about it from the current stake holders, if you are worry about transparency matters. dacoinminster did this for mastercoin and it became very effective, people shared the mastercoin voice in different places and forums.

[BCNext]

I can't give away 1 million coins, they are not mine.  This million would be taken from those who paid/will pay with bitcoins, reducing value of their nxts.

[bybitcoin]

I can't give away 1 million coins, they are not mine.  This million would be taken from those who paid/will pay with bitcoins, reducing value of their nxts.

You can make a poll to ask about it from current stake holders.

[cunicula]

Would you consider finding someone to coordinate marketing and  public relations? Look at JR, for example. His skills in this area are mastercoin's no. 1 asset. Good projects fail due to bad PR all the time.

[BCNext]

You can make a poll to ask about it from current stake holders.

How will I know that a particular forum member is a stake holder?

[BCNext]

Would you consider finding someone to coordinate marketing and  public relations? Look at JR, for example. His skills in this area are mastercoin's no. 1 asset. Good projects fail due to bad PR all the time.

Nxt is a decentralized currency and I am just a developer.  I expect Nxt users will do marketing and PR.

[bybitcoin]

You can make a poll to ask about it from current stake holders.

How will I know that a particular forum member is a stake holder?

Sorry I became a dude Okay you may simply make a poll to test the water. And better to mention that you have not to assign those 1M coins (or let put a smaller amounts for more confidence) to advertisers at once. You promise to give them some coins proportional to their efforts. dacoinminster put 420 MSC for the giveaway and shared them during August very slowly, and to our surprise 70% of coins are still not distributed two month after the closing date.
 

[BCNext]

Let's try to do it such way

1]  Post here a link to your webpage (facebook, twitter, blog) that spreads the word about Nxt.
2]  Publish your Nxt account id.
3]  Wait for some coins from a donation pool after Nxt is launched.

I will set up the donation pool account right after the launch.

[Geo_log]

That's why I asked him to put a cap, it is 1 BTC now.

- it is very easy to make 20-50 addresses in the blockchain wallet, and make 20-50 transactions with the new double SHA messages. So it isn't cap, really.

Could you explain what you mean when say "disappear"?  In the OP I stated that "BCNext" is my second BitcoinTalk account.

- I mean, at one moment you can stop the Nxt development, abandon your second BitcoinTalk account, and spend collected bitcons for your personal needs. And this scenario is more probable, if you manage to collect a few thousand of bitcoins. That is why I propose to make a finite fundraising (=  initial Nxt distribution)  - say, 200BTC (or how many needed for further development).

[Come-from-Beyond]

Frankly speaking I need these bitcoins to start the development and then I expect Nxt price to skyrocket (when users see Nxt has a lot of superior features like reliable instant transactions).

What price will we see 1 month after the release?

Could you explain what you mean when say "disappear"?  In the OP I stated that "BCNext" is my second BitcoinTalk account.

- I mean, at one moment you can stop the Nxt development, abandon your second BitcoinTalk account, and spend collected bitcons for your personal needs. And this scenario is more probable, if you manage to collect a few thousand of bitcoins. That is why I propose to make a finite fundraising (=  initial Nxt distribution)  - say, 200BTC (or how many needed for further development).

I disassembled Nxt code, it's quite simple. I don't think we need him after he publishes the sources.

[BCNext]

I can not give you exact numbers.  Try to assess them taking into account some facts:

1]  Nxt does not require to waste electricity (no centralization of mining power around pro-miners)
2]  Colored coins will lead to a revolution in finances (decentralized exchange of property in atomic transactions)
3]  Instant transactions (I can't find words to explain how it's cool)

Nxt collected 1,500 USD worth bitcoins.  I'll eat my hat if in half a year they won't be worth a couple of millions.

[BCNext]

I mean, at one moment you can stop the Nxt development, abandon your second BitcoinTalk account, and spend collected bitcons for your personal needs. And this scenario is more probable, if you manage to collect a few thousand of bitcoins. That is why I propose to make a finite fundraising (=  initial Nxt distribution)  - say, 200BTC (or how many needed for further development).

The only way to prove you wrong is to develop what I planned.  You can wait until you see the progress and then join us.  You won't get the early adopter bonus but that's the way RISK vs REWARD works.

[mishax1]

I can not give you exact numbers.  Try to assess them taking into account some facts:

1]  Nxt does not require to waste electricity (no centralization of mining power around pro-miners)
2]  Colored coins will lead to a revolution in finances (decentralized exchange of property in atomic transactions)
3]  Instant transactions (I can't find words to explain how it's cool)

Nxt collected 1,500 USD worth bitcoins.  I'll eat my hat if in half a year they won't be worth a couple of millions.

Now you are just bragging..

I would like to invest in this project as well, but I'm not yet convinced.

Maybe you SHOULD reveal your identity first. 

just imo..   

[Come-from-Beyond]

I can not give you exact numbers.  Try to assess them taking into account some facts:

1]  Nxt does not require to waste electricity (no centralization of mining power around pro-miners)
2]  Colored coins will lead to a revolution in finances (decentralized exchange of property in atomic transactions)
3]  Instant transactions (I can't find words to explain how it's cool)

Nxt collected 1,500 USD worth bitcoins.  I'll eat my hat if in half a year they won't be worth a couple of millions.

Well, half a year is too short period of time, maybe in a couple of years. Bitcoin required 3 years to go from 5 cents to 250 bucks.

Also these 3 facts r not so awesome.

1. Nobody cares about electricity.
2. Colored coins will be implemented in Bitcoin some day.
3. It's possible to achieve even in Bitcoin/Litecoin with some centralization.

[Come-from-Beyond]

Maybe you SHOULD reveal your identity first. 

Aye, coz how we know he really ate his hat.

[bybitcoin]

when does the beta-test get started?

[BCNext]

Now you are just bragging..

I would like to invest in this project as well, but I'm not yet convinced.

Maybe you SHOULD reveal your identity first. 

just imo..   

Yeah, a little bit   I'm excited to see my dream is becoming real.  A month ago I had only an idea, now I've got people who believed me.  They are becoming Nxt adopters, they are developing services for Nxt, now I'm sure that this project won't fail.

Regarding my identity...  I will stay anonymous for the time being.