NXT :: descendant of Bitcoin - Updated Information

[newsilike]

Are there any plans on redistributing the roughly 61 million USD in NXT ? The current distribution seems so far off, it borders on being ridiculous. Basically all founders are now millionaires. Before it is even usable as a payment system?
I tried to gather some NXT but it seems almost impossible, I got more free BTC doing less work (not mining, but faucets, ad-clicking, etc).
This all seems a bit too greedy for my taste to be totally honest.

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.

If there would be a better way of redistributing it, I think its the best way one can do it.

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.

So that the 20% Stakeholders would forge it anyway?

[ZeroTheGreat]

as there are many volunteers who are putting in a lot of hours

For their_own_future_benefits (NXT's value in pocket and/or near-ideal payment system). Called profit. Concept: rational egoism.

[ZeroTheGreat]

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

Applause 

[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.

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 If I deposit 1 million NXT, sell it on dgex, and the person who bought it hasn't withdrawn it from the exchange it will remain in the dgex reserves.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

This is true.  It can only be "positively" identified as being sold when it is withdrawn from Dgex by the buyer.  That's the criteria I was using to say "20% had changed hands in 30 days at Dgex".  I was assuming 200M had been WITHDRAWN.  Now I find out that 75M has been shuffled into a Dgex storage account.  This means only 125M has been withdrawn, or around 12-13%, not 20%.  This matters because salsacz has a very bold "30%" claim front and center in her video.  That number needs to be researched and corrected a single time now, not explained as an error to critics a million times a month from now.

The real solution here is that Graviton and salsacz need to have a talk.

[Damelon]

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

Let's hope we will never get to the block of Exodus!

[mcjavar]

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

Thank you, much appreciated!

[Come-from-Beyond]

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.

[landomata]

@ Ricky

Why does it matter ....many buyers want to keep it there rather than withdraw it....so yes it did change hands...even though we can't really tell.


Edit: Better measurement would be total deposits....no one deposits to Dgex just for safe keeping.

[laowai80]

This is true.  It can only be "positively" identified as being sold when it is withdrawn from Dgex by the buyer.  That's the criteria I was using to say "20% had changed hands in 30 days at Dgex".  I was assuming 200M had been WITHDRAWN.  Now I find out that 75M has been shuffled into a Dgex storage account.  This means only 125M has been withdrawn, or around 12-13%, not 20%.  This matters because salsacz has a very bold "30%" claim front and center in her video.  That number needs to be researched and corrected a single time now, not explained as an error to critics a million times a month from now.

You don't suppose a new video with new numbers should be made after each 1% is withdrawn or deposited back to the exchange just to respond to the critics, do you? I just bought some NXTs today at dgex, while the price has gone down a bit, feels like a bargain to me. I believe it'll be higher a week from now. That's all I need to know, and not care about some stakeholders not giving away for free. It's capitalism, dudes, life is unfair and all that usual crap you so don't like to hear told to you. So just stop whining and buy or go away to dogecoin. Not to anyone in particular, but to all whiners in general.

[punkrock]

PLEASE JOIN NEXTCOIN.ORG AND VOTE HERE FOR THE NEXT-LOGO!

[trl55238]

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

Well put, sir! I'm glad to know that somebody here is able to address our community's detractors in such an effective and positive way. Please pleaaassse keep up the good work and spread your message far and wide. We definitely need as much of this as we can get.

[getfun12345]

I repost this from https://nextcoin.org/index.php/topic,797.msg14049.html#msg14049 coz it's important

Account Alias
You can name your account with a alias. The rule is:
Alias:yueye
Url: nxt:5693933960808456307

This way is slightly incorrect. "nxt:" URI scheme tells that "5693933960808456307" is an alias, not an account id. U should choose other notation coz aliases pointing to other aliases will be used in future not announced yet features. I would advise to switch to other notation (for example, just "5693933960808456307") before it becomes widespread and lead to problems with standardization.

hi, i'm yueye000. Sorry made that mistake, how about "acc:5693933960808456307" ?

[Come-from-Beyond]

hi, i'm yueye000. Sorry made that mistake, how about "acc:5693933960808456307" ?

U r the 1st who implemented this feature, so u decide. Just make sure it's not reserved in URI standard. Ur decision will change the future.

[jl777]

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.

[brooklynbtc]

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

Cool stuff! Top 30 for me :-)

keep it very well, for the history books. now did I moved a place up by this post   


Pin

i'm tryin'

[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