NXT :: descendant of Bitcoin - Updated Information

[xibeijan]

zerothegreat,

I am sure everybody understands there are risks. There are no places to put your money without risks. I am not advocating that everybody should sell their homes and buy NXT with the proceeds.

As long as people understand what NXT is and have a proper timeframe, measured in months or even years, and that there are risks, that is what is important.

Best to underpromise and overdeliver.

The purpose of all investments is to make more money, or at least protect it from devaluation. I have not seen anywhere anything to the contrary. People tend to want money because it is money. NXT community is not purely profit driven, as there are many volunteers who are putting in a lot of hours, relative to their stake size. A lot of us feel that we are part of something big, something that will transform the world for the better. To some, that is more important from money, but money is good too.

James

+1

[ZeroTheGreat]

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.

Go to church. Really.

And without jokes:
1) Why stakeholders took risk, but much more people'd be granted for this? No sense.
2) That action'll turn Nxt to MUCH less secure system. Every second there'll be the risk Genesis account's owner can compromise whole system, forging bad blocks. I prefer to not give such unhealthy potential to any man. U suggest center, but most of cryptoguys strongly disagree including me.

[notsoshifty]

My Hallmarked VPS is running at Amazon for about 40 hours right now, I have 2 questions though :

1 : Does someone have an easy copy paste restart script? The node seems to hang every 12 hours or so(account will show negative and blocks won't be received anymore in the GUI), so I want to restart it.

2 : Right now I am paying about 0.0725 per hours (or 1.74$ per day), can it be done cheaper at another VPS?

Thanks.

You could also check bandwidth costs, as these are a significant factor with AWS, especially if you are allowing inbound traffic on port 7874 (which I guess you should be).

For me, AWS is good for trying things for a few hours, but not long term.

[jl777]

user1922,

In the beginning there was BCNext who decided to give away millions of dollars worth of software to 71 randomly self-selected people, known as the founders.

The founders had no idea what a gift they were going to get, nor the responsibility.

Since it was BCNext who created NXT, who is anybody to say he did it fairly or unfairly. It was his to giveaway as he saw fit. He did.

Is it fair? Is it unfair? Seems to be a pointless question to me. It is done, can't undo it.

Just what is the responsibility of the founders? Should they just give away everything for free or calculate what a fair return is on their 1BTC and give away everything above that?

NXT is a meritocracy. The founders had merit because they found the obscure NXT thread (I didn't), the followed it, and followed through with sending in BTC.

NXT is in the early adopter stage. Let us assume that in  3 years, NXT is trading at 0.01 BTC, everyone who is an early adopter is getting it at <0.0001 BTC. How unfair is that to everyone else?

Knowledge is power. Knowing about NXT gives a person the chance to decide whether he wants to participate in its distribution at current market prices.

How much fairer can you get?

This forum is not censored, anyone can post repeatedly, even people like yuriygeorge. Everyone can take the time to read the posts to find out what is going on. No more excuse about being an obscure thread as it is the longest active thread. Of course, people will start complaining the thread was too long and they couldn't bother to spend the time to read it all.

So unfair. Lazy people will miss out on buying NXT at current prices and will have to wait until it is easier to get.

James

[mcjavar]

user1922,

In the beginning there was BCNext who decided to give away millions of dollars worth of software to 71 randomly self-selected people, known as the founders.

The founders had no idea what a gift they were going to get, nor the responsibility.

Since it was BCNext who created NXT, who is anybody to say he did it fairly or unfairly. It was his to giveaway as he saw fit. He did.

Is it fair? Is it unfair? Seems to be a pointless question to me. It is done, can't undo it.

Just what is the responsibility of the founders? Should they just give away everything for free or calculate what a fair return is on their 1BTC and give away everything above that?

NXT is a meritocracy. The founders had merit because they found the obscure NXT thread (I didn't), the followed it, and followed through with sending in BTC.

NXT is in the early adopter stage. Let us assume that in  3 years, NXT is trading at 0.01 BTC, everyone who is an early adopter is getting it at <0.0001 BTC. How unfair is that to everyone else?

Knowledge is power. Knowing about NXT gives a person the chance to decide whether he wants to participate in its distribution at current market prices.

How much fairer can you get?

This forum is not censored, anyone can post repeatedly, even people like yuriygeorge. Everyone can take the time to read the posts to find out what is going on. No more excuse about being an obscure thread as it is the longest active thread. Of course, people will start complaining the thread was too long and they couldn't bother to spend the time to read it all.

So unfair. Lazy people will miss out on buying NXT at current prices and will have to wait until it is easier to get.

James

+1

[Come-from-Beyond]

In the beginning there was BCNext...

Is it from The Book of Genesis?






Hahaha, man, u made my day!

[mcjavar]

There will be a Bitcoin Conference in February in Berlin.

http://www.mediabistro.com/insidebitcoins/

Since I am from Vienna, I would love to represent Nxt on this venue. I would fly over to Berlin and use the 2 days to spread the word, let others know about Nxt.
I believe in Nxt and am sure that we will benefit from it having someone around at a venue like this, that´s why I will fund the whole journey myself, but

donations to buy the tickets, pay for the hotel and flight is much appreciated!

11433600460445633305

Thank you very much stranger in helping me pay for the expenses. If anyone would like to help, please feel free to do it. The more Nxt I get, the more marketing I will be able to do for Nxt. I am planning creating t-shirts with Nxt logos on them to give away on the conference as well as some biros or pendrives with Nxt slogan on them. Please help me to spread the word and help Nxt to succeed.

11433600460445633305

[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.

Go to church. Really.

And without jokes:
1) Why stakeholders took risk, but much more people'd be granted for this? No sense.
2) That action'll turn Nxt to MUCH less secure system. Every second there'll be the risk Genesis account's owner can compromise whole system, forging bad blocks. I prefer to not give such unhealthy potential to any man. U suggest center, but most of cryptoguys strongly disagree including me.

I do not understand why I am being attacked here. Go to Church?? Is that your response to legitimate questions and proposals?
jl777 thinks I want NXT for free and without doing work so he surely is not reading what I am writing.
I will stop this discussion as I am clearly not meeting the intended audience here.

[landomata]

...and the Prophet jl777 said:

"Let us assume that in  3 years, NXT is trading at 0.01 BTC,"...

lets hope it's 1.01 BTC instead

[landomata]

In the beginning there was BCNext...

Is it from The Book of Genesis?






Hahaha, man, u made my day!

its from the block of Genesis

[rickyjames]

Turned out it's the DGEX reserve account with 75 mil 

What is your source for this statement?  If true, it totally invalidates salsacz's video claim that 30% of NXT has changed owners in 21 days or my analysis that 20% had done so thru Dgex in 30 days...

why would it invalidate anything?
reserve account doesn't mean DGEX necessarily owns all of NXTs in it, it's just users of DGEX store their NXTs there, it's their trade money.

Same goes for bitcoin exchanges, some of the biggest bitcoin wallets are actually exchanges' wallets with thousands of users owning bitcoins in those wallets.

If it's still in storage at DGex it hasn't changed hands yet on the exchange and still belongs to the depositor.  It can't be counted as NXT that has found a new owner yet until it's actually sold.

[utopianfuture]

I nominate jl777 to be the official historian of the Genesis book and NXT movement. "Once upon a time, when the world is full of powerful and corrupted centralized organizations   ..."

[pinarello]

Turned out it's the DGEX reserve account with 75 mil 

What is your source for this statement?  If true, it totally invalidates salsacz's video claim that 30% of NXT has changed owners in 21 days or my analysis that 20% had done so thru Dgex in 30 days...

https://nextcoin.org/index.php/topic,1658.msg15160.html#msg15160

In 10 years Graviton could say:
- I recall times when I had 7.5% of all world wealth in my pocket...

make it 5 years


Pin

[guZ]

For all android users, by installing "meta widget" on android,you can easily create a widget showing the price from www.dgex.com. I did it on my phone, took only 5 minutes, unfortunately i cannot copy it and post it, need to be done individually.
heres a screenshot:
https://dl.dropboxusercontent.com/u/2139172/Screenshot_2013-12-29-16-07-44.png

[Come-from-Beyond]

its from the block of Genesis

I see

[landomata]

For all android users, by installing "meta widget" on android,you can easily create a widget showing the price from www.dgex.com. I did it on my phone, took only 5 minutes, unfortunately i cannot copy it and post it, need to be done individually.
heres a screenshot:
https://dl.dropboxusercontent.com/u/2139172/Screenshot_2013-12-29-16-07-44.png

+ 10

[jl777]

not the book of genesis, the "block of genesis"

0.01 BTC is simply the point where NXT market cap and BTC market cap are roughly the same. Actually it is trending toward 0.02 BTC as more and more BTC gets mined, but I use 0.01 to have some room.

NXT is better than BTC in many ways.

NXT is extensible. BTC is like compuserve. It wasn't extensible. NXT is like the internet, very extensible. How many of you remember compuserve?

NXT pays a dividend and allows for a calculation of lifetime future cashflows,which in turn allows value investors to consider NXT. BTC will never pay a dividend, BTC is for speculators. NXT is for intelligent investors.

BTC is established, NXT is not established yet. By communicating the truth about NXT and BTC, smart people (who tend to have a lot more money than people not so smart) will invest in NXT. Speculators will start selling their BTC to buy NXT.

I see it more as an inevitable shifting of assets tied up in BTC to NXT combined with new smart money coming into NXT.

James

[mr_random]

Turned out it's the DGEX reserve account with 75 mil 

What is your source for this statement?  If true, it totally invalidates salsacz's video claim that 30% of NXT has changed owners in 21 days or my analysis that 20% had done so thru Dgex in 30 days...

why would it invalidate anything?
reserve account doesn't mean DGEX necessarily owns all of NXTs in it, it's just users of DGEX store their NXTs there, it's their trade money.

Same goes for bitcoin exchanges, some of the biggest bitcoin wallets are actually exchanges' wallets with thousands of users owning bitcoins in those wallets.

If it's still in storage at DGex it hasn't changed hands yet on the exchange and still belongs to the depositor.  It can't be counted as NXT that has found a new owner yet until it's actually sold.

We don't know what fraction of that 75 million belongs to buyers and sellers. If I deposit 1 million NXT, sell it on dgex, and the person who bought it hasn't withdrawn it from the exchange it will remain in the dgex reserves. Yet the 1 million NXT is now belonging to and controlled by the buyer not the seller. etc

[ImmortAlex]

Send small amount to mcjavar (txid 14567541224881332002).
Hope someone will send much more to help you promote our lovely child.

[Olimpiata]

I sent my NXT from DGEX to my "wallet" but it is not appearing. It shows on the blockchain (was confirmed two days ago).
Where the hell are they?

Cheers for any advice

Olimpiata,

try restarting the client, if the blockchain website shows it, it is probably there, the wallet lost sync

James

Restarting the wallet didn't help.. No idea what's going on :/