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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2761621 times)
BrianNowhere
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March 23, 2014, 05:17:07 PM
Last edit: March 23, 2014, 05:40:22 PM by BrianNowhere
 #47641

Vircurex is dying on the vine. Always check the announcements.

I saw it was well above 0.00008 this morning and thought I was being slick by uploading 8000 for a quick dump and pump
then I read here about the BTC funds freezing. I barely made it out alive in the ensuing panic selling but luckily barely escaped having lost only 200 Nxt or so.

Thanks for the heads up comrades.

Here's the announcement on vircurex.com

Frozen Funds

In preparation of the following, we have with immediate effect stopped the possibilities to withdraw BTC, LTC, FTC and TRC. All incoming deposits will also not be credited to the users accounts for the time being.

On 24th March 2014 we will be freezing the current BTC, LTC, TRC and FTC accounts, then perform the below distribution of the available coins and reenable deposits and withdrawals. This action will also require us to delete all open sell orders for BTC, LTC, FTC and TRC.

As you may very well be aware, we had two incidents last year that lead to a loss of a significant number of BTC, LTC, FTC, TRC. We had communicated at that time that we will be covering those losses from our income, which we have done so far. We had enough coin balances in our cold wallet to upkeep our platform and the positive cashflow enabled us to gradually refill the wallets.
Unfortunately we had large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.
We have obviously chosen the later and hence are going to do the following:
1. We will introduce an additional balance type called "Frozen Funds". Funds in this balance type cannot be used to trade or withdraw. Those are the balances that the exchange will gradually pay back and hence transfer back to the available balance over time.
2. We will move all current balances for BTC, LTC, TRC and FTC to the "Frozen Balance", i.e. your balance will be set to 0.
3. We'll take the current available cold storage balance and distribute it based on the below described distribution logic.
4. Monthly we will take the net profit of the exhchange and credit back that amount distributed to the users based on the described distribution logic.

https://vircurex.com/welcome/ann_reserved.html

Going to make an announcement on reddit warning people to pull out NOW!!

NXT: 4957831430947123625
l4p7
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March 23, 2014, 05:31:57 PM
 #47642


Quote
hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!
What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 
rickyjames
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March 23, 2014, 05:34:39 PM
 #47643

I think NXT has a damn good chance simply because ya'll don't have leaders.

I'd highly recommend as many NXTers as possible read the book "The Spider and the Starfish: The Unstoppable Power of Leaderless Organizations" - You guys have an "apache" or "na'taan" model of leadership, you just don't know it so it doesn't work too well.

NXT is like the beast with a thousand arms and no head.  Difficult to organize, but with many resources at its disposal.
https://www.youtube.com/watch?v=9dzK-0wB-CA

An eleven page PDF summary outline of "The Spider and The Starfish" is here:

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CDEQFjAA&url=http%3A%2F%2Fugnchicago.com%2Fwp-content%2Fuploads%2F2009%2F07%2FStarfish-and-Spider-Ori-Brafman-Summary.pdf&ei=axovU77EH8fd2AWjwIH4BQ&usg=AFQjCNGne2aAP5I-aCfJTTAmG1L7XT3rPQ&sig2=upromSb5Yfx_lIJAl-Uwow&bvm=bv.62922401,d.b2I

Read these 11 pages.  Read these 11 pages.  Read these 11 pages.

Then go discuss them here:

http://107.170.117.237/index.php?topic=86.msg345#msg345
bitcoinpaul
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March 23, 2014, 05:37:10 PM
 #47644

Obviously, the two sites are very bad with explaining things.

Admins of hashrate and p00l: please make a prominent short explanation at the top of the main page what this whole thing is about.



You mine alt coins with this pool, the pool sells mined coins on an exchange and buys NXT for it. You get NXT. It's just a very easy and cool way to jump into the 2nd generation crypto world.
timmyd
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March 23, 2014, 05:37:20 PM
 #47645


Quote
hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!
What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 

Hashrate.org is a multi alt coin pool that mines the most profitable altcoin and sells to nxt. so your mining alts and getting paid in nxt. Nxt still operates on pos.
This is good for ppl with obsolete mining equipment and nxt itslef as more buy orders will be created regulary. cant help you on the document your after sorry

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Sebastien256
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March 23, 2014, 05:38:13 PM
 #47646

Obviously, the two sites are very bad with explaining things.

Admins of hashrate and p00l: please make a prominent short explanation at the top of the main page what this whole thing is about.



You mine alt coins with this pool, the pool sells mined coins on an exchange and buys NXT for it. You get NXT. It's just a very easy and cool way to jump into the 2nd generation crypto world.

Pool are in Beta, they are working on improving web interface.

Nxt official forum at: https://nxtforum.org/
TwinWinNerD
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March 23, 2014, 05:40:50 PM
 #47647

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast Wink

Sebastien256
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March 23, 2014, 05:45:37 PM
 #47648

Hey guy, I want your opinion on the following brand or slogan for Nxt.

Please go post your opinion on the new nxt forum:
http://107.170.117.237/index.php/topic,79.0.html

Nxt - Sky's the Limit

EDIT: When searching for this expression on google, I found the following which is a plus.

http://en.wikipedia.org/wiki/Sky's_the_Limit

Note that: ..and the sky's the limit" are the last words in the series finale of Star Trek: The Next Generation
With Jean-Luc Picard as the "captain" for Nxt that sound good!

Look at the video of the final scene of star trek next gen with JLP himself saying the words!
https://www.youtube.com/watch?v=lrnmbiN4xjE

That is a nice analogy. Branding don't need to be related to detail of Nxt, but only in the fundamental idea behind it. Exactly as with Nike analogy with "just do it".

Nxt official forum at: https://nxtforum.org/
bitcoinpaul
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March 23, 2014, 05:47:07 PM
 #47649

too fancy.
BrianNowhere
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March 23, 2014, 05:48:54 PM
 #47650

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast Wink

Done.

NXT: 4957831430947123625
BitcoinForumator
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March 23, 2014, 05:49:09 PM
 #47651

too fancy.

+1
brooklynbtc
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March 23, 2014, 05:52:38 PM
 #47652


ugh you linked reddit users to the main thread? start the fun machine!

SN
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Uniting cryptocurrencies, Rewarding talent, Sharing benefits..

Blockchain Technology.

TwinWinNerD
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March 23, 2014, 05:54:54 PM
 #47653


ugh you linked reddit users to the main thread? start the fun machine!

Oh, is that not liked? I am mainly a lurker!

l4p7
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March 23, 2014, 05:55:12 PM
 #47654


Quote
hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!
What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 

Hashrate.org is a multi alt coin pool that mines the most profitable altcoin and sells to nxt. so your mining alts and getting paid in nxt. Nxt still operates on pos.
This is good for ppl with obsolete mining equipment and nxt itslef as more buy orders will be created regulary. cant help you on the document your after sorry

But there must be some cost associated (buying nxt from exchanges to pay the miners etc.). Who is paying for this?
google98
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March 23, 2014, 05:55:57 PM
 #47655

Obviously, the two sites are very bad with explaining things.

Admins of hashrate and p00l: please make a prominent short explanation at the top of the main page what this whole thing is about.



You mine alt coins with this pool, the pool sells mined coins on an exchange and buys NXT for it. You get NXT. It's just a very easy and cool way to jump into the 2nd generation crypto world.

how many nxts do you you get per day using 420 KH/s? just roughly...

BrianNowhere
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March 23, 2014, 05:58:00 PM
 #47656

Nxt: Exchange you can believe in.


NXT: 4957831430947123625
brooklynbtc
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March 23, 2014, 06:01:24 PM
 #47657


ugh you linked reddit users to the main thread? start the fun machine!

Oh, is that not liked? I am mainly a lurker!


oh its ok, i mean their little organized brains might explode with 2400 pages

SN
S   U   P   E   R    N   E   T
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
Uniting cryptocurrencies, Rewarding talent, Sharing benefits..

Blockchain Technology.

Ola
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March 23, 2014, 06:05:34 PM
 #47658

Heads up marketing team...This is the second time I am repeating this, Just a pointer for a more effective marketing strategy, other than the guerrilla marketing we have been limited to. The other crypto 2.0 platforms are doing it right.

Solution: Create campaigns marketing directly to businesses who will IPO on the nxt blockchain, each of these businesses will then partially serve as autonomous marketing vehicle for the nxt platform

1) counterparty has got it right: They have got 7+ businesses plus Adam b Levine ready to go on their platform

2) watch the video bitshares video..Their main focus is to appeal to businesses http://bitshares.org/

This is why platforms like Apple app store, Amazon and ebay are so successful...The sellers and affiliate marketers on these platform actually work to promote their product listed there, which in in turn brings greater exposure to the platform. I have yet to see any consensus on a similar strategy..So if you are a key decision maker on the NXT marketing committee please think about this post, I should know I studied a bit of marketing in college and made a living working in the field for a while other than just writing code...

Just my 2 nxt..back to work.

yo ola.. PM'd you

im on the MC.. lets meet for coffee and talk about this ASAP

sent you my email

Responded, check your PM




Nxt's Achilles heel at the moment is marketing. Big time.

It doesn't have to be going forward... The marketing strategy has to be different : Most people have not clue what an asset/ decentralized exchange is..But I would argue that more than a third of the world population understand what it means to invest in a company no matter what the denominating currency is...They will likely find a way to invest if there is a potential return on investment and that way is wesleyh client.
There is a road split right now:

On one side of the split guerrilla / shotgun marketing which targets every and all outlets to spread awareness and onboard new user, has worked for us initially(great work to the marketing team. The community cannot thank you enough): people are now aware of what NXT is, at least most people who understand and are involved in crypto currencies. This will continue to work, but will not spur viral adoption. Should our major strategy continue on this path?

On the other side of the split: is to understand how continuing on the shotgun marketing approach will significantly limit the effectiveness of the appeal of the asset exchange...change this strategy and market to companies with potential...Again most people do not understand what an asset exchange is, I would say that more people understand what it means to invest in a company and receive dividends...I would argue that even your average joe understands this...The difference is the amount of time it would take for a potential on-boarder to understand what needs to be done to complete a goal...and for investing in a company, its way less time than understanding the concept of and asset exchange and one of the major determining factors in success of marketing/outreach.



An example solution to increase the amount of likely profitable businesses is to provide bounties to companies who can develop a plan and a business model that shows how it will make money(key factor!), how it will attract users, development....etc all the element of a project to become successful...This will become immensely valuable to the companies and most importantly to the NXT platform because on one hand, we are enabling projects/business to thrive and on the other end, Nxt gains Indirect investors who are on-boarded by these companies, we will have hubs of autonomous companies bringing new users to the NXT platform everyday. If you do not understand this study Google's model: advertisers and content creators, apple app store and developers (businesses who market their product on the platform), amazon and its sellers/affiliates/ ebay...The list goes on..Yet nxt is hoping to become a platform greater than all of these, with currency as the first app..The early right marketing strategy is necessary if we are to retain competitive edge against the likes of euthereum....

Understand this...

In the short term (2-6 months) I don't think we will likely accomplish what bitcoin has because of infrastructure already developed and barriers to entry:
(1) technical : the concept of public ledger and Fundamental understanding of what money is, why overcoming "double spending" is important
(2) Ideological/political inclinations
(3) Mainstreaming and mainstream educational information which has stood the test of time, educating and on-boarding new users



But in the short term: We could do a better job of assimilating more people already involved in other crypto and help them see the light because NXT naturally is superior to most coins as of right now...Also people might skip the on-boarding process through bitcoin the "educational phase" all together to invest in companies whose shares are denominated in NXT.

And then we will have ease of use and features in wesleyh client :http://nxtra.org/nxt-client/ , cfb digital marketplace plus the allure of the possible and constant return on investment from the companies IPO'ing on the NXT blockchain  to continue to help get the newbies educated...

Also CFB's digital goods store might be a game changer, look out for its IPO but we should not solely depend on just this one company..

Just my 2 nxts

I am dong my part as I can, back to work...

Nxter,Bitcoiner,Ether highlevel developer working to improve the world.
chanc3r
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March 23, 2014, 06:12:48 PM
 #47659


Quote
hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!
What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?

Hashrate.org is a multi alt coin pool that mines the most profitable altcoin and sells to nxt. so your mining alts and getting paid in nxt. Nxt still operates on pos.
This is good for ppl with obsolete mining equipment and nxt itslef as more buy orders will be created regulary. cant help you on the document your after sorry

But there must be some cost associated (buying nxt from exchanges to pay the miners etc.). Who is paying for this?

I can point my miner at a pool or multi-pool and mine crapcoin
Then I have to sell this through an exchange myself.

Basically hashrate do both steps for you - the fees are paid out of the coins traded on the exchanges for NXT.
They take a pool fee from the NXT 1%
The rest is sent to you.

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March 23, 2014, 06:19:44 PM
 #47660




you all making the mistake to devaluate nxt, to just a base(platform) to build on with no value on itself.

things create on top of nxt could have value, but nxt itself does not
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