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Author Topic: WARNING about Nextcoin NXT the new altcoin is this legit?  (Read 25804 times)
Altcoinfuture
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December 04, 2013, 06:23:58 PM
 #1

Im looking for a good cryptocurrency to invest money in.
I was enthousiastic about NXT since it's the newest coin on the market.
However, when I did some research on it I discovered the following things:

The currency website www.nextcoin.org and NXT echange platform DGEX.com are both hosted by the same company that appears have produced the currency.
That's Graviton Capital Inc.
By checking the WHOIS info on these websites the admin of both is goldtails@gmail.com

By googling that emailadress I discovered other websites that are adminned by this guy:

http://www.ipaddressden.com/email/goldtails@gmail.com.html

http://www.webboar.com/whois-email/goldtails@gmail.com

These are domainnames of gambling websites that look like scams.
The one that caught my eye the most is: www.ponzigame.com
PONZI GAME...

Above all that: in the terms of DGEX.com NXT exchange website it says that all BTC tranfered in to your DGEX account will become property of DGEX.com
So if DGEX.com decides to take all the BTC and close the website there is nothing you can do about it.

Well aren't these all serious red flags not to get involved with this currency?
Is this an unfolding scam or the beginning of a better cryptocurrency?

Peace out,
Altcoinfuture
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Noitev
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December 04, 2013, 06:27:14 PM
 #2

I like NXT and the exchange and forum have nothing to do with the founders or programmers. It's just an enthusiastic NXT user making an exchange and forum, they are by no means official. That said, the exchange and forum have worked fine for me, regardless or what other sites he's made.
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December 04, 2013, 06:31:48 PM
 #3

don’t buy from dgex if you don’t trust, buy directly from the trading thread ... from nxt supporters
don’t buy more then you can't afford  to lose ...
  

SP8DE - The Game of Chance. Changed.
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December 04, 2013, 06:35:54 PM
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I like NXT and the exchange and forum have nothing to do with the founders or programmers. It's just an enthusiastic NXT user making an exchange and forum, they are by no means official. That said, the exchange and forum have worked fine for me, regardless or what other sites he's made.

Might have nothing to do with the coin itself, but how about the exchange? And they might have worked fine for you right now, because NXT is nothing worth at this time. Scammers won't strike until it's worth something.

I admire people who do research and find this kind of information. Even if it's a false positive (what this could be of course). And we all know there's a lot of scam going on in this scene.

Good post altcoinfuture!
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December 04, 2013, 06:43:16 PM
 #5

I like NXT and the exchange and forum have nothing to do with the founders or programmers. It's just an enthusiastic NXT user making an exchange and forum, they are by no means official. That said, the exchange and forum have worked fine for me, regardless or what other sites he's made.

Might have nothing to do with the coin itself, but how about the exchange? And they might have worked fine for you right now, because NXT is nothing worth at this time. Scammers won't strike until it's worth something.

I admire people who do research and find this kind of information. Even if it's a false positive (what this could be of course). And we all know there's a lot of scam going on in this scene.

Good post altcoinfuture!

Well he does post that he made those gambling sites on dgex.com, haha.

I just wanna say that he hasn't scammed anyone yet and has been trustworthy of all ventures I know of him, of course, diligence is of course always required when entrusting your money with someone else.
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December 04, 2013, 06:54:47 PM
 #6

So, the unused domains we own, and standard legal terms for release of responsibility are a red flag?

We own quite a bunch of domains, active and inactive right now and during the past decade+.

I say red herring. Hope your sold off some NXT nicely at DGEX and bought back already.  Cheesy

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December 04, 2013, 07:09:11 PM
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Ive been suspicious of NXT from the beginning. Something always seemed off.

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December 04, 2013, 07:10:36 PM
 #8

Ive been suspicious of NXT from the beginning. Something always seemed off.

I'm sort of in the same boat, but I risked a btc and the people working on it are active in fixing/ upgrading it.

Biggest fear is that it's the tenebrix:litecoin::NXT:somethingelse...
wakasaki808
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December 04, 2013, 07:15:37 PM
Last edit: December 04, 2013, 09:03:17 PM by wakasaki808
 #9

For people that don't know, since there seems to be a lot of people confused...

This is a descendant of bitcoin. NOT another alt-coin. It's part of the "second generation of cryptocurrency" group .

1.) The forum and exchange ARE NOT created by the creator of Nxt. BCNext was/is the creator of the coin and is so paranoid with everything that he has Come-From-Beyond post for him whatever he wants, such as the updated client and such which has been constant because its still having some bugs ironed out. The creator of the forum and exchange is just another enthusiastic investor in the coin.

2.) The coin IS NOT "pre-mined". EVERYONE had to pay a fee to get in on the coin, even the creator of the coin. The coins were given from the genesis block in the beginning and is spread out to the rest of the investors as time goes on. The coin STARTS with 1 billion in circulation and transaction fee's from the coin is what is "mined"(forged) and given out.

The way its done is like this. You ask/buy Nxt from the exchange or any holder of Nxt. You load up the client and the program that is needed to start the mining(forging process). With at least 1 Nxt, and after a day of leaving the client open, you can start to mine(forge) Nxt with the client, although it would take a long time do get anything with just 1 Nxt. There is no need for any ASIC's or requirements of CPU, GPU, etc. all you need is some Nxt to start the mining(forging) process. You can run the thing on a 3 year old netbook, which runs an AWESOME Intel Atom Processor  Grin(which is what I am using) and it mines(forges) the same rate as a high-end desktop, miner, whatever. Also it doesn't matter if you have 10 computers running the client or just 1, there is no increase between the two. As long as your computer can handle java, its all good.  
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December 04, 2013, 07:30:35 PM
 #10

For people that don't knowm, since there seems to be a lot of people confused...

This is a descendant of bitcoin. NOT another alt-coin.

1.) The forum and exchange ARE NOT created by the creator of Nxt Coin. BCNext was/is the creator of the coin and is so paranoid with everything that he has Come-From-Beyond post for him whatever he wants, such as the updated client and such which has been constant because its still having some bugs ironed out. The creator of the forum and exchange is just another enthusiastic investor in the coin.

2.) The coin IS NOT "pre-mined". EVERYONE had to pay a fee to get in on the coin, even the creator of the coin. The coins were given from the genesis block in the beginning and is spread out to the rest of the investors as time goes on. The coin STARTS with 1 billion in circulation and transaction fee's from the coin is what is "mined"(forged) and given out.

The way its done is like this. You ask/buy Nxt from the exchange or any holder of Nxt. You load up the client and the program that is needed to start the mining(forging process). With at least 1 Nxt, and after a day of leaving the client open, you can start to mine(forge) coins with the client, although it would take a long time do get anything with just 1 Nxt. There is no need for any ASIC's or requirements of CPU, GPU, etc. all you need is some Nxt to start the mining(forging) process. You can run the thing on a 3 year old netbook(which is what I do) and it mines(forges) the same rate as a high-end desktop, miner, whatever. As long as your computer can handle java, its all good.  

Still not explained what is going on in this 'forging' process.  Does it calculate something?  How does the network determine which node gets the coin?

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wakasaki808
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December 04, 2013, 07:36:53 PM
Last edit: December 04, 2013, 07:48:42 PM by wakasaki808
 #11

For people that don't knowm, since there seems to be a lot of people confused...

This is a descendant of bitcoin. NOT another alt-coin.

1.) The forum and exchange ARE NOT created by the creator of Nxt Coin. BCNext was/is the creator of the coin and is so paranoid with everything that he has Come-From-Beyond post for him whatever he wants, such as the updated client and such which has been constant because its still having some bugs ironed out. The creator of the forum and exchange is just another enthusiastic investor in the coin.

2.) The coin IS NOT "pre-mined". EVERYONE had to pay a fee to get in on the coin, even the creator of the coin. The coins were given from the genesis block in the beginning and is spread out to the rest of the investors as time goes on. The coin STARTS with 1 billion in circulation and transaction fee's from the coin is what is "mined"(forged) and given out.

The way its done is like this. You ask/buy Nxt from the exchange or any holder of Nxt. You load up the client and the program that is needed to start the mining(forging process). With at least 1 Nxt, and after a day of leaving the client open, you can start to mine(forge) coins with the client, although it would take a long time do get anything with just 1 Nxt. There is no need for any ASIC's or requirements of CPU, GPU, etc. all you need is some Nxt to start the mining(forging) process. You can run the thing on a 3 year old netbook(which is what I do) and it mines(forges) the same rate as a high-end desktop, miner, whatever. As long as your computer can handle java, its all good.  

Still not explained what is going on in this 'forging' process.  Does it calculate something?  How does the network determine which node gets the coin?

The more Nxt you hold, the higher percentage you get of getting a block.

Sorry not much of a techy..

Maybe these quotes help from the original thread? Tongue

"1'000'000'000 NXT in existence. This is cap. No inflation at all. Generation is from transaction fees only."

A question was posed. "Ok. so i still haven't really understood this.  The mining reward is based on the total coins you hold?  Or just the likeliness that you will mine something?  Is it just based on how much you hold?  So say if i hold 100,000 coins.  My chances of mining a block at 100,000 / 1 000 000 000 = 0.1% per block?"

which Come-from-Beyond replied...
"In the long run u will mine 1 block of 10000 (0.01%)."

link to original thread.
https://bitcointalk.org/index.php?topic=303898.msg3701780;topicseen#msg3701780
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December 04, 2013, 07:40:36 PM
 #12

Ive been suspicious of NXT from the beginning. Something always seemed off.

Hahaha, u appear in every thread dedicated to Nxt. I bet u were developing ur own coin very similar to Nxt but BCNext outpaced u.
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December 04, 2013, 07:56:12 PM
 #13

However, when I did some research on it I discovered the following things:

The currency website www.nextcoin.org and NXT echange platform DGEX.com are both hosted by the same company that appears have produced the currency.
That's Graviton Capital Inc.
Huh? "Appears to have produced the currency"?? Did you, maybe, in your research, ever stumble upon the original thread where Nxt was announced and discussed a few months ago:
https://bitcointalk.org/index.php?topic=303898.0
Nxt was not produced by DGEX. Not any more than Bitcoin was produced by MtGox. And there is no official currency website (yet), the original developer didn't see the need to have one - refer to the above thread again. DGEX stepped in and created this website to promote the currency, and by this get some business their way of course, but that's it. They did not create Nxt and are not controlling it in any way.
Seems like you are just trying to spread FUD in order to bring down the price and load up on Nxt while it is cheap.

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December 04, 2013, 07:56:28 PM
 #14

Got anything to defend yourself against the claim made in the thread?

Defend? Has anyone accused me?
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December 04, 2013, 08:04:27 PM
 #15

just another scam coin, no worries Cool
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December 04, 2013, 08:05:35 PM
 #16

Im looking for a good cryptocurrency to invest money in.
I was enthousiastic about NXT since it's the newest coin on the market.
However, when I did some research on it I discovered the following things:

The currency website www.nextcoin.org and NXT echange platform DGEX.com are both hosted by the same company that appears have produced the currency.
That's Graviton Capital Inc.
By checking the WHOIS info on these websites the admin of both is goldtails@gmail.com

By googling that emailadress I discovered other websites that are adminned by this guy:

http://www.ipaddressden.com/email/goldtails@gmail.com.html

http://www.webboar.com/whois-email/goldtails@gmail.com

These are domainnames of gambling websites that look like scams.
The one that caught my eye the most is: www.ponzigame.com
PONZI GAME...


Above all that: in the terms of DGEX.com NXT exchange website it says that all BTC tranfered in to your DGEX account will become property of DGEX.com
So if DGEX.com decides to take all the BTC and close the website there is nothing you can do about it.

Well aren't these all serious red flags not to get involved with this currency?
Is this an unfolding scam or the beginning of a better cryptocurrency?

Peace out,
Altcoinfuture
This guy needs to re-evaluate his research lol. and i wonder if he knows that slander is a very serious matter. In all honesty pal i would save your forum integrity and remove this post as you are so out on this judgement.
made me lol the part claiming dgex created nxt hahahahaha

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December 04, 2013, 08:09:13 PM
Last edit: December 04, 2013, 08:35:48 PM by wakasaki808
 #17

just another scam coin, no worries Cool

I don't get why people think this is a scam coin. I would really like to know.

-The forums and exchange was created by an investor in the coin not even the creator of the coin to get the coin more known by the public.

-EVERYONE had to pay to get coins from creator on down, hence there was no pre-mining. People in the beginning got it the cheapest, but nothing different than any other altcoin or bitcoin in the beginning. The reallllly early investors took the risk of it getting even released. The thing was even capped at 1 BTC per person.

-Nxt mining(forging) are exchanged by transaction fees, just like how Bitcoin or any other coin will be once they stop creating new coins.

If anyone is really worried. I will buy 100k Nxt for .000001 BTC = .1 BTC... and take the Nxt off their hands though  Grin
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December 04, 2013, 08:13:01 PM
 #18

Im looking for a good cryptocurrency to invest money in.
........................................
Peace out,
Altcoinfuture
This guy needs to re-evaluate his research lol. and i wonder if he knows that slander is a very serious matter. In all honesty pal i would save your forum integrity and remove this post as you are so out on this judgement.
made me lol the part claiming dgex created nxt hahahahaha

Forum integrity:
Name:   Altcoinfuture
Posts:   3
Activity:   3
Position:   Jr. Member
Date Registered:   Today at 01:53:40 PM

He just wants to buy more and/or cheap. And even honestly said so in first sentence.
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December 04, 2013, 08:13:42 PM
 #19

Indirectly yes, I was curious about your position regarding the claims as you are waiting for NXT to skyrocket so you would be the perfect person to defend yourself against the claims made. In the sense that I would expect you to unleash that what has been stated is merely not true.

Well, I don't know who BCNext is. Maybe nextcoin forum owner == BCNext. Yes, BCNext clearly stated that he didn't need a forum/site for Nxt, but it means nothing, coz he could change his mind or just lain. I don't really care, coz BCNext doesn't control Nxt anymore. It's up to users what forum/exchange to use. If u don't trust nextcoin guy, then use other sites.

I'm still sure NXT price will skyrocket, coz decentralized exchange is already implemented. All that we need is to fix critical bugs and merge old and new branches.
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December 04, 2013, 08:17:23 PM
 #20

I don't get why people think this is a scam coin. I would really like to know.

Coz they invested in Bitcoin/Litecoin. Nxt is a tough competitor. U should expect that Bitcoin early adopters will spend their 100,000s bitcoins to eradicate any competition.
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