NXT :: descendant of Bitcoin - Updated Information

[Uniqueorn]

It would not be fair to steal back the NXTs, are you crazy?
They were lucky and got in on the deal. Sadly a lot of them are greedy as hell and don't contribute at all to the community and let's us do all the hard work. But that's the nature of business I guess, we might be able to change the system, but not the users of said system.

[user1922]

Why not hold 80% of all NXT in the genesis account and release that as transactions fee's in the coming 10-30 years? Seems a LOT fairer to me.

This would make Nxt less secure. Google "proof-of-stake" and read Sunny King and Balthazar.

If all coins would be created at once, but held in the Genisis account I do not see how that will reduce security? The only difference is WHO holds them.

I did not mean that transactions would become free, but you could also have chosen to have the sender pay a fee AND add 1 NXT from the Genesis account. This would not reduce security and it would distribute NXT at the same time to the ones contributing to the NXT network.

[jl777]

newcn,

you need to ripple send to the exact address given to you on the page, including the ?dt=...

James

[trefifund]

I did not mean that transactions would become free, but you could also have chosen to have the sender pay a fee AND add 1 NXT from the Genesis account. This would not reduce security and it would distribute NXT at the same time to the ones contributing to the NXT network.

Hey man, you're talking out of my soul

[landomata]

I did not mean that transactions would become free, but you could also have chosen to have the sender pay a fee AND add 1 NXT from the Genesis account. This would not reduce security and it would distribute NXT at the same time to the ones contributing to the NXT network.

Hey man, you're talking out of my soul

how can the sender pay fee's when he has none....Nxt needs to be distributed before it can be spent.

[jl777]

user1922, trefifund, etc

How is it that BCNext's giving away millions of dollars worth of software somehow turns the lucky founders into greedy people?

If you are given a winning lotto ticket for $1, how would you feel if people started calling you greedy because you don't sell it for $10. After all that is 10 times gain of what you paid, certainly more than fair isn't it?

What, you would want to get more than $10? Let's say it is worth $10,000 how much would you sell your ticket for? What does it matter what you paid for it? It is worth what it is worth. BCNext created the value so it was his to give away. The founders received it and the vast majority of them have been doing a fantastic job not only selling it at below what they know it will be worth, but actually simply just giving it away. Not to mention totally disrupting their lives. They never realized what would happen when they sent the 1BTC in.

For anybody who complains that the founders aren't selling their NXT at ridiculous discounts to what it is worth, please tell me what you would sell a $10000 lotto ticket for, the one you were given by someone else for $1.

James

[S3MKi]

Please VOTE for Adding NxT @Cryptsy here
https://cryptsy.freshdesk.com/support/discussions/topics/44434
likes/comments

[ZeroTheGreat]

I am using it to specifically mean the securities analysts meaning.

Buffet's startegy worked out very well, but as far as I know no Nobel prize in economics so far. In my estimation value of most assest stickly connected with mass psychology and mentality (it can change fast). Nxt (and NXT) is no exception.

Product or service is always worth as much as others willing to pay for it. Dynamic equilibrium (in case, if free market exist). No "fair" or "real" price, Just price.

[Come-from-Beyond]

If all coins would be created at once, but held in the Genisis account I do not see how that will reduce security? The only difference is WHO holds them.

I did not mean that transactions would become free, but you could also have chosen to have the sender pay a fee AND add 1 NXT from the Genesis account. This would not reduce security and it would distribute NXT at the same time to the ones contributing to the NXT network.

Unfortunatelly, this is the same as subsidy of 25 BTC in Bitcoin. To overcome security flaws u have to add proof-of-work.

PoW in 100% PoS? Well, someone should definitely try this...

[user1922]

Has anybody claimed NXT would be a CHARITY when the idea was presented?!?!?  

Please point me to such claim because I am having difficulty understanding where some people are coming from.

I am coming from the camp that is weary of all those me-too, get-rich-quick Alt-Coins. I do not claim NXT is one of those. But the way it is setup now does raise some valid questions. Maybe you are so blinded by profit that you are unable to discuss this in a civilised manner?

I am all for-profit, I am in the camp 'greed is good' believe it or not. But it all seems a bit too soon, too fast. Value has risen on the compilation of the feature list, not on it's implemented features. I am actually volunteering to aid in development as I do like the list. But I am also well known with the fact that implementation takes time. I guess we will find out Jan 3rd.

[bizz]

Why not hold 80% of all NXT in the genesis account and release that as transactions fee's in the coming 10-30 years? Seems a LOT fairer to me.

This would make Nxt less secure. Google "proof-of-stake" and read Sunny King and Balthazar.

If all coins would be created at once, but held in the Genisis account I do not see how that will reduce security? The only difference is WHO holds them.

I did not mean that transactions would become free, but you could also have chosen to have the sender pay a fee AND add 1 NXT from the Genesis account. This would not reduce security and it would distribute NXT at the same time to the ones contributing to the NXT network.

It would mean centralization & freicoin has a similar (foundation) concept and it was crucified for that. Also you would still have rich people buying all the coins and forging most of fees. Just like there are rich people today buying  ASICs and mining most of bitcoins. It's how universe works.

[zhangdu]

Please VOTE for Adding NxT @Cryptsy here
https://cryptsy.freshdesk.com/support/discussions/topics/44434
likes/comments

please donate me some NXT.

[newcn]

newcn,

you need to ripple send to the exact address given to you on the page, including the ?dt=...

James

sent!
thank you for your help

[ZeroTheGreat]

...it is not the founders greed, but rather BCnext's generosity that is central to the origins of NXT.

+ ∞

No, I disagree: both sides wanna make some profit (from all collected data, it seems more like long-term rather than pump'n'dump). As I do, when I'm looking at businesses. "Greed" in my mind interpreters as bad-managed risks. May be there's some greed, why not? Not everybody manages risks optimal, neither do I.

[jl777]

landomata,

just what exactly is happening when NXT is sold, via forum or exchange?
If that is not distribution,what is?

Are you expecting a handout? I think there was someone giving out thousands of DOGE or some such coin. Why not go ask for some handouts there?

NXT is a serious coin, it will be sought after by value investors since NXT is the first crypto that has dividends built in. If you want handouts, beg for DOGE/CAT, etc. If you want a long term growth investment that pays dividends along the way, just buy some NXT now.

Prices are still significantly below what they will be, at least if you believe that NXT will actually do the things it claims it will do.

Read, learn, decide, act. If you don't like how NXT was created, you can create your own version in a few months and you can just get all 1 billion yourself. NXT is far more than some random coin. In a few weeks enough people have understood this to push its value and volumes to be close to namecoin. Since it has namecoin functionality,this makes sense.

Since you don't like how NXT was created, why not put your money into namecoin. Just don't complain when namecoin doesn't keep adding new features everymonth, but at least you get to rest easy knowing the petahashes being wasted on making new namecoins.

James

[EmoneyRu]

Where certificate for 7875 is kept? We can use StartSSL™ Free for our servers

[landomata]

landomata,

just what exactly is happening when NXT is sold, via forum or exchange?
If that is not distribution,what is?

Are you expecting a handout? I think there was someone giving out thousands of DOGE or some such coin. Why not go ask for some handouts there?

NXT is a serious coin, it will be sought after by value investors since NXT is the first crypto that has dividends built in. If you want handouts, beg for DOGE/CAT, etc. If you want a long term growth investment that pays dividends along the way, just buy some NXT now.

Prices are still significantly below what they will be, at least if you believe that NXT will actually do the things it claims it will do.

Read, learn, decide, act. If you don't like how NXT was created, you can create your own version in a few months and you can just get all 1 billion yourself. NXT is far more than some random coin. In a few weeks enough people have understood this to push its value and volumes to be close to namecoin. Since it has namecoin functionality,this makes sense.

Since you don't like how NXT was created, why not put your money into namecoin. Just don't complain when namecoin doesn't keep adding new features everymonth, but at least you get to rest easy knowing the petahashes being wasted on making new namecoins.

James

James...slow down pls....I was counter arguing against the guy in favor of the current setup.


P.S...I bought my stake a long time ago from Dgex

[jl777]

user1922,

Do you believe that NXT currently has namecoin functionality?

If so, what discount to namecoin should NXT be trading at. Certainly a case can be made for a discount due to network instability, alpha software etc. What premium factor should NXT have.

I would like to understand your math regarding what the proper value of NXT should be. Start with namecoin market cap, discount based on unproven nature as of now, premium based on potential.

Please show me the math.

James

P.S. We can't help that BCNext and his team keep adding incredible value at an incredible rate. If you hit an oil gusher, do you complain about how much oil is coming out and that it isn't fair since you only spent a little money on drilling? Stop being emotional and start being logical.

[jl777]

landodata,

sorry got confused as to who was whining

As a community we want intelligent people who understand the long term picture of what NXT is. There will certainly be bumps in the road, both from internal and external issues.

NXT is a totally new code base, not just a cut and paste of bitcoind, anybody that thinks there won't be any technical problems is an optimist. Possible certainly, even likely, but we all need to be prepared for some bugs as the dev team keeps integrating more and more features on top of each other.

James

[user1922]

user1922,

Do you believe that NXT currently has namecoin functionality?

If so, what discount to namecoin should NXT be trading at. Certainly a case can be made for a discount due to network instability, alpha software etc. What premium factor should NXT have.

I would like to understand your math regarding what the proper value of NXT should be. Start with namecoin market cap, discount based on unproven nature as of now, premium based on potential.

Please show me the math.

James

P.S. We can't help that BCNext and his team keep adding incredible value at an incredible rate. If you hit an oil gusher, do you complain about how much oil is coming out and that it isn't fair since you only spent a little money on drilling? Stop being emotional and start being logical.

Offtopic: Apparently I hit a sensitive issue here..

I do not make any assumptions or calculations about it's current value.
I am simply trying to address the distribution. That has little to do with it's value.
I am in the 'greed is good' camp as I think rewards get ppl off their asses and create value where there was none.

I am also NOT asking for free handouts, I am already running a few hallmarked nodes. For free... So do not accuse me of trying to get a free lunch here. Unlike some ppl I do not need a donation to setup a node, I just help any way I can.

I am simply struggling with the concept of the 100% POS system and a means to have a fair distribution.