NXT :: descendant of Bitcoin - Updated Information

[Alias]

trl55238,

thanks for your kind words

I am only me, only so much I can do

however there are thousands here, thousands

I want to encourage everyone to copy my posts or their contents or just the spirit and spread the message far and wide. It is critical that whenever we find a public statement that spins NXT like yuri does that we counter with powerful statements, backed by truth. A statement that is not countered is like a server node that goes offline that we don't put back online.

If we all sent out the same powerful message, within weeks, we will own that spot on the ladder in people's minds.

I want to create an investors relation page. Not sure where the best place to put that will be.

I am leaning toward using a slogan like "NXT is for intelligent investors", with the implied "BTC is for speculators" The investor relations page will back up our slogan. 5 simple words that speak the truth.

It also ties in to the book that Buffett's teacher Benjamin Graham wrote. I forgot that detail the other day. The Intelligent Investor is the reference book for value investors, so in the investor community "NXT is for intelligent investors" communicates very clearly what we are trying to do.

As people will try to disprove that NXT is for intelligent investors, they will get involved in fact finding that will contradict their initial skepticism. This is because NXT will transform the world economy from govt fiat fiefdoms to a unified global NXTconomy. The potential is to capture a meaningful percentage of global GDP within NXTconomy. Some of my high end valuation scenarios are just too crazy big to post, people will think I am some crazy lunatic. For now I am sticking with 0.01 BTC target. Underpromise, overdeliver.

Do you want to be an intelligent investor? Buy NXT.

James

P.S. Does someone have the time to cut and paste and edit all my posts into a handy reference page that everyone can use to combat the rhetoric against NXT? I am actually on vacation now.

Hi James,

I was thinking of putting together an investment pitch document. I can trawl through your posts and compile them with my material. Once I have the initial batch together I can put it up on Github or something so that others can contribute/edit the document. I should have a bit of momentum going on this within the next 48 hours. Enjoy your vacation.

Regards,
Al

[user1922]

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

You say NXT is extensible, BTC is not. And how is that? Is that because of the fact that it is a PoS system? Why would BTC be less extensible? I do not understand.

[BloodyRookie]

Page 1 very first post:

Full source code will be released Jan 3rd, 2014.  The fourth anniversary of bitcoin's genesis block.

Should be the fifth anniversary, right?

[Damelon]

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

I disagree with your assesment.
Criticism is good. There is nothing wrong with that.

Misrepresenting facts is not good. And saying that an IPO where investors get profit is "not fair" isn't really a useful statement.

What ís useful is constructive ideas about how to get those coins moving. As stated before: the founders are in a lock, too.
Market volume isn't big enough for them to bring all their coins to the market at the moment. The market would collapse and that isn't good for anyone.

Some people have suggested ways to do this. Most suggested "give it away".
Fair enough, that's a valid suggestion.

Some proposed a charity fund. Also constructive.

My point is that it's a good idea to distinguish between people shouting "not fair!" and then not adding any constructive idea (which leads to the impression they just want a piece of the pie too and and are in NO way interested in the NXT as a new currency, AT ALL) and people who raise valid concers that have something to do with the viability of NXT.

[jl777]

user1922,

We are having a discussion here, I apologize for any feeling of being brushed off as a freeloader. The forum has been "ddosed" by a guy named yuriygeorge and I think people are responding to you as if you are his clone.

Anyway, extensibility!

OK, so we know BTC can do payments, like paypal, just slower but without worry about transactions being reversed. Some like this others don't. Regardless if you want to change anything about bitcoin, well it is easier to just make it a new coin and that is exactly what has happened, litecoin, namecoin, 100+ others.

None of these coins can coexist with each other at the protocol level. Meaning they need different server daemons, different wallets, etc. Let's ignore the wasteful mining aspect, that is not what you asked. So I hope that explains how BTC is not extensible. Changing BTC creates a new altcoin. Now the more technical of you will probably point out that it is possible to update bitcoind globally and get new features added to bitcoin. To them I say, show me how you can get all the miners to agree to this short of a catastrophic bug.

Clear enough on BTC's shortcomings in this area?

Now for NXT, when it first was released, it had the payment ability. Faster than bitcoin so better, but essentially the same functionality.

In less than a month namecoin functionality was added. This immediately boosted market prices for NXT to around namecoin market cap. This is not simply because namecoin functionality is so good, it is because it showed the ability of NXT to do an update and gain a new functionality. Let's see any other altcoin or bitcoin do that.

the other thing it did was make clear that if there is a service, people will use it and spend NXT like drunken sailors. All the transaction fees then get distributed randomly to the lucky lottery winner of that block (approx minute). While the big NXT holders tend to win most lotteries, even very small holders eventually get some and this redistributes NXT, it also makes it a built in dividend reinvestment program, and makes NXT the only crypto that has a positive yield.

James

[msin]

Hey CfB... would really like your opinion on my concerns earlier:

https://bitcointalk.org/index.php?topic=345619.msg4198196;topicseen#msg4198196

...I have had my wallet unlocked non-stop (aside from downtime from attacks) for a FULL month until today...

The issue u r talking about belongs to client side. I don't have opinion on that, sorry.

I see... hopefully that kick-ass client that is in the works has that feature then.  thnx  

When I forge, I start java client, login via web browser, then close browser and keep java cmd open.  This will allow you to continue forging without having your wallet open in a browser.

[user1922]

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

I disagree with your assesment.
Criticism is good. There is nothing wrong with that.

Misrepresenting facts is not good. And saying that an IPO where investors get profit is "not fair" isn't really a useful statement.

What ís useful is constructive ideas about how to get those coins moving. As stated before: the founders are in a lock, too.
Market volume isn't big enough for them to bring all their coins to the market at the moment. The market would collapse and that isn't good for anyone.

Some people have suggested ways to do this. Most suggested "give it away".
Fair enough, that's a valid suggestion.

Some proposed a charity fund. Also constructive.

My point is that it's a good idea to distinguish between people shouting "not fair!" and then not adding any constructive idea (which leads to the impression they just want a piece of the pie too and and are in NO way interested in the NXT as a new currency, AT ALL) and people who raise valid concers that have something to do with the viability of NXT.

I agree shouting 'unfair' is not constructive. That is why I suggested to put 80% of the coins in a sort of trust fund and dole them out when transactions are executed. Apparently this has something to do with going to Church.

Having an ad supported faucet apparently is also not supported by most here.

I agree that giving them away is not constructive and is in no way supportive of the currency. There has to be some sort of work that has to be performed to get coins. So far not very many of these programs exist however. Maybe I just didn't look in the right places.

[brooklynbtc]

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

I disagree with your assesment.
Criticism is good. There is nothing wrong with that.

Misrepresenting facts is not good. And saying that an IPO where investors get profit is "not fair" isn't really a useful statement.

What ís useful is constructive ideas about how to get those coins moving. As stated before: the founders are in a lock, too.
Market volume isn't big enough for them to bring all their coins to the market at the moment. The market would collapse and that isn't good for anyone.

Some people have suggested ways to do this. Most suggested "give it away".
Fair enough, that's a valid suggestion.

Some proposed a charity fund. Also constructive.

My point is that it's a good idea to distinguish between people shouting "not fair!" and then not adding any constructive idea (which leads to the impression they just want a piece of the pie too and and are in NO way interested in the NXT as a new currency, AT ALL) and people who raise valid concers that have something to do with the viability of NXT.

I agree shouting 'unfair' is not constructive. That is why I suggested to put 80% of the coins in a sort of trust fund and dole them out when transactions are executed. Apparently this has something to do with going to Church.

Having an ad supported faucet apparently is also not supported by most here.

I agree that giving them away is not constructive and is in no way supportive of the currency. There has to be some sort of work that has to be performed to get coins. So far not very many of these programs exist however. Maybe I just didn't look in the right places.

hey 1992, problem with the "trust fund" is whoever controls it can fake, lie, cheat, and steal by manipulation.

[brooklynbtc]

Hey CfB... would really like your opinion on my concerns earlier:

https://bitcointalk.org/index.php?topic=345619.msg4198196;topicseen#msg4198196

...I have had my wallet unlocked non-stop (aside from downtime from attacks) for a FULL month until today...

The issue u r talking about belongs to client side. I don't have opinion on that, sorry.

I see... hopefully that kick-ass client that is in the works has that feature then.  thnx  

When I forge, I start java client, login via web browser, then close browser and keep java cmd open.  This will allow you to continue forging without having your wallet open in a browser.

YOU MADE MY DAY!!!   

So... how are you sure you are still forging?  I mean... how do you check to see that you are still forging?

thnx   

See i don't know how you are still forging. I have been on nxt 24 hours a day for the past couple weeks, even calling half that time down for crashes and ddos, and thats still a TON of hours. I have almost 285k nxt and my block chain says that I should have forged an estimated 175nxt. In reality, I've forged two blocks and earned 1nxt.  I KNOW its new, and crashy, and lots of empty blocks, but I really think the issue is about understanding how the "staying connected" works

see http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15436509232181115695

[Damelon]

I am absolutely amazed by the way how critical questions and remarks are just brushed of as 'you are just jealous because you are too late' kind of statements.
It is as if no actual discussion is allowed, only when you utter words like to the moon etc?

I disagree with your assesment.
Criticism is good. There is nothing wrong with that.

Misrepresenting facts is not good. And saying that an IPO where investors get profit is "not fair" isn't really a useful statement.

What ís useful is constructive ideas about how to get those coins moving. As stated before: the founders are in a lock, too.
Market volume isn't big enough for them to bring all their coins to the market at the moment. The market would collapse and that isn't good for anyone.

Some people have suggested ways to do this. Most suggested "give it away".
Fair enough, that's a valid suggestion.

Some proposed a charity fund. Also constructive.

My point is that it's a good idea to distinguish between people shouting "not fair!" and then not adding any constructive idea (which leads to the impression they just want a piece of the pie too and and are in NO way interested in the NXT as a new currency, AT ALL) and people who raise valid concers that have something to do with the viability of NXT.

I agree shouting 'unfair' is not constructive. That is why I suggested to put 80% of the coins in a sort of trust fund and dole them out when transactions are executed. Apparently this has something to do with going to Church.

Having an ad supported faucet apparently is also not supported by most here.

I agree that giving them away is not constructive and is in no way supportive of the currency. There has to be some sort of work that has to be performed to get coins. So far not very many of these programs exist however. Maybe I just didn't look in the right places.

First off, because I basically am just a small investor with no indepth knowledge of the functionality of the system, I cannot comment on the trust fund etc.

An ad supported faucet (at least in the beginning stages of Nxt) seems like a good idea to get some circulation.

As far as I can see that is basically a condition that any plan at this point needs to meet: does it get the coin circulating in a way that does not break the market? If so, it's worth thinking about. if not, it's just not viable.

The spice must flow!

[user1922]

user1922,

We are having a discussion here, I apologize for any feeling of being brushed off as a freeloader. The forum has been "ddosed" by a guy named yuriygeorge and I think people are responding to you as if you are his clone.

Anyway, extensibility!

OK, so we know BTC can do payments, like paypal, just slower but without worry about transactions being reversed. Some like this others don't. Regardless if you want to change anything about bitcoin, well it is easier to just make it a new coin and that is exactly what has happened, litecoin, namecoin, 100+ others.

None of these coins can coexist with each other at the protocol level. Meaning they need different server daemons, different wallets, etc. Let's ignore the wasteful mining aspect, that is not what you asked. So I hope that explains how BTC is not extensible. Changing BTC creates a new altcoin. Now the more technical of you will probably point out that it is possible to update bitcoind globally and get new features added to bitcoin. To them I say, show me how you can get all the miners to agree to this short of a catastrophic bug.

Clear enough on BTC's shortcomings in this area?

Now for NXT, when it first was released, it had the payment ability. Faster than bitcoin so better, but essentially the same functionality.

In less than a month namecoin functionality was added. This immediately boosted market prices for NXT to around namecoin market cap. This is not simply because namecoin functionality is so good, it is because it showed the ability of NXT to do an update and gain a new functionality. Let's see any other altcoin or bitcoin do that.

the other thing it did was make clear that if there is a service, people will use it and spend NXT like drunken sailors. All the transaction fees then get distributed randomly to the lucky lottery winner of that block (approx minute). While the big NXT holders tend to win most lotteries, even very small holders eventually get some and this redistributes NXT, it also makes it a built in dividend reinvestment program, and makes NXT the only crypto that has a positive yield.

James

Apology accepted 

Ok, i understand what you say about the extensibility. But that forking of the code into altcoins is what will probably happen to NXT as well as soon as it's source is published. The only way to keep this from happening is implementing features faster and better than anyone else could. But that will only occur if there are (lots of) experienced programmers working on the same codebase. But I am not worried about that.

I agree that the alias system was implemented well and worked without (too much) bugs. So I see it's value there as well.

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

[trefifund]

user1922,

We are having a discussion here, I apologize for any feeling of being brushed off as a freeloader. The forum has been "ddosed" by a guy named yuriygeorge and I think people are responding to you as if you are his clone.

Anyway, extensibility!

OK, so we know BTC can do payments, like paypal, just slower but without worry about transactions being reversed. Some like this others don't. Regardless if you want to change anything about bitcoin, well it is easier to just make it a new coin and that is exactly what has happened, litecoin, namecoin, 100+ others.

None of these coins can coexist with each other at the protocol level. Meaning they need different server daemons, different wallets, etc. Let's ignore the wasteful mining aspect, that is not what you asked. So I hope that explains how BTC is not extensible. Changing BTC creates a new altcoin. Now the more technical of you will probably point out that it is possible to update bitcoind globally and get new features added to bitcoin. To them I say, show me how you can get all the miners to agree to this short of a catastrophic bug.

Clear enough on BTC's shortcomings in this area?

Now for NXT, when it first was released, it had the payment ability. Faster than bitcoin so better, but essentially the same functionality.

In less than a month namecoin functionality was added. This immediately boosted market prices for NXT to around namecoin market cap. This is not simply because namecoin functionality is so good, it is because it showed the ability of NXT to do an update and gain a new functionality. Let's see any other altcoin or bitcoin do that.

the other thing it did was make clear that if there is a service, people will use it and spend NXT like drunken sailors. All the transaction fees then get distributed randomly to the lucky lottery winner of that block (approx minute). While the big NXT holders tend to win most lotteries, even very small holders eventually get some and this redistributes NXT, it also makes it a built in dividend reinvestment program, and makes NXT the only crypto that has a positive yield.

James

Apology accepted 

Ok, i understand what you say about the extensibility. But that forking of the code into altcoins is what will probably happen to NXT as well as soon as it's source is published. The only way to keep this from happening is implementing features faster and better than anyone else could. But that will only occur if there are (lots of) experienced programmers working on the same codebase. But I am not worried about that.

I agree that the alias system was implemented well and worked without (too much) bugs. So I see it's value there as well.

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

holy words
  I could not have written a better

[NxtChoice]

I just made a statistic of this hot thread
the number of total ids appeared in this thread is 488,
the number of new ids appeared in recent 3 days is 93,
CFB is the top1 id who posted 2005 posts!
the following are top100 ids:

Code:

  rank npost   ID
     1  2005 Come-from-Beyond
     2  460 laowai80
     3  324 klee
     4  304 smaragda
     5  211 opticalcarrier
     6  206 abctc
     7  183 xibeijan
     8  178 mcjavar
     9  177 utopianfuture
    10  176 nexern
    11  163 starik69
    12  163 Pablito89
    13  156 gbeirn
    14  150 pinarello
    15  133 landomata
    16  123 ImmortAlex
    17  122 2Kool4Skewl
    18  121 ZeroTheGreat
    19  113 brooklynbtc
    20  109 bizz
    21  107 bitcoinrocks
    22  99 inkadnb
    23  98 S3MKi
    24  94 davethetrousers
    25  92 allwelder
    26  88 ferment
    27  86 salsacz
    28  85 wesleyh
    29  83 Anon136
    30  81 jl777
    31  75 NxtChoice
    32  72 Damelon
    33  71 EmoneyRu
    34  70 rickyjames
    35  69 OKNXT
    36  67 timmyd
    37  66 bybitcoin
    38  65 CIYAM
    39  63 GCInc.
    40  62 Sharky444
    41  61 Ola
    42  61 msin
    43  61 kwest
    44  56 TwinWinNerD
    45  56 BitcoinForumator
    46  53 davidoski
    47  52 Pouncer
    48  50 Jean-Luc
    49  47 wakasaki808
    50  46 pandaisftw
    51  44 Kontakt
    52  44 crazybonkers
    53  43 bahamapascal
    54  42 nov
    55  40 yuriygeorge
    56  40 snowboard789
    57  39 smartwart
    58  39 MyZhre
    59  39 idev
    60  39 Drexme
    61  37 Bitventurer
    62  36 LightningFury
    63  36 BitThink
    64  35 mr_random
    65  34 superresistant
    66  34 Noitev
    67  34 Chang
    68  33 zhangdu
    69  33 Kodoka
    70  31 bitdraw
    71  30 JohnyCrypt
    72  29 lophie
    73  29 instacash
    74  29 buybitcoinscanada
    75  27 Vega
    76  27 EvilDave
    77  27 abuelau
    78  26 omo
    79  25 BloodyRookie
    80  25 bitcoinpaul
    81  24 bitme
    82  22 nnn
    83  22 greyw00lf
    84  22 gorgorom
    85  22 colinistheman
    86  21 twistelaar
    87  21 Timetwister
    88  21 eid
    89  21 dzarmush
    90  20 PeercoinEnthusiast
    91  20 newcn
    92  20 lyynx
    93  20 joefox
    94  20 2X84
    95  19 pmabdsf
    96  19 bidji29
    97  18 Meizirkki
    98  18 aldrin
    99  17 plasticAiredale
   100  17 notsoshifty

Thank you for the effort, but I need to make something clear.

Visitors of this thread should NOT consider my placement in the top ten equivalent to my posts being more informative, beneficial, etc.  I strongly urge everybody to pay attention to post content rather than number of posts.

You get BOTH, of course, from Come-from-Beyond!  

+1

It's still at the very beginning of Nxt!

[brooklynbtc]

See i don't know how you are still forging. I have been on nxt 24 hours a day for the past couple weeks, even calling half that time down for crashes and ddos, and thats still a TON of hours. I have almost 285k nxt and my block chain says that I should have forged an estimated 175nxt. In reality, I've forged two blocks and earned 1nxt.  I KNOW its new, and crashy, and lots of empty blocks, but I really think the issue is about understanding how the "staying connected" works

see http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15436509232181115695

Not that I don't believe you... but are you POSITIVE you generated those two blocks with the browser closed?

smargda, I agree with you.. I don't know when they were forged, and my point is that I should have forged A LOT MORE, based on time and nxt held.

[user1922]

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

Redistribution, which is not a problem by the way, will occur when people that respect the Right to Ownership buy NXT from the rightful owners. All other forms of NXT redistribution that you might have witnessed thus far should be considered CHARITY.

And how about EARNING them? Do you also consider that a form of charity?

[neonemu]

user1922,

This forum is not censored, anyone can post repeatedly, even people like yuriygeorge.

Why am I afraid that if you say his username two more times he'll suddenly appear?

[brooklynbtc]

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

Redistribution, which is not a problem by the way, will occur when people that respect the Right to Ownership buy NXT from the rightful owners. All other forms of NXT redistribution that you might have witnessed thus far should be considered CHARITY.

How many Btc forums are full of people complaining that "you paid nothing", "i want it for free"?

[brooklynbtc]

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

Redistribution, which is not a problem by the way, will occur when people that respect the Right to Ownership buy NXT from the rightful owners. All other forms of NXT redistribution that you might have witnessed thus far should be considered CHARITY.

And how about EARNING them? Do you also consider that a form of charity?

you can earn them. look at the bounty list. do some of those. or go to work, earn dollars and buy coins. do you go to the mall and say "how can I earn those new Nikes?"

[Damelon]

I am also glad to read that the stakeholders are also still unsure on how to deal with redistribution and are still looking for ways on how to solve this problem. It will be an issue that needs to be solved I think. I read on many different websites getting involved in NXT is not smart as it is a pre-mined currency. I do understand why NXT is NOT pre-mined, but a lot of others will not understand this point. And that will be the reason for people to ignore NXT. To me, this is the biggest hurdle that is facing PoS currencies such as Ripple and NXT.

I think one of the bigger challenges is to get people out of the "mining" mindset.
Let's face it, most people at the moment got into coins and mining because of the beginning of December boom.

They have little or no interest in new forms of currency. The only currency they are interested is the one on their accounts and also the "game" of free money.
This may seem overly cynical, but reading the forums, you know the kind of person I mean. DOGE was succesful for a reason.  

The good thing would be to engage these people (not the ones already interested) and show them what currencies are and do and could do!

My own view on distribution is that there should be a more extensive bounty scheme to get a wider range of capable people involved. I freely admit this has a selfserving side, too, as I have no coding abilities whatsoever, but wouldn't mind earning Nxt by doing other jobs. That's why I am also translating the wiki. It's something I can do to help, and it falls within my abilities.  

[brooklynbtc]

ok smaragda, I'm getting close to mining a block, or being due to, so I'm going to stare the kettle until it boils and see if I can figure it out, unless all goes to shit..

ha