NXT coin - A total scam?

[jehst]

I'm a total outside observer. I looked at NXT a few times. Let me give you an honest perspective.

It seems that the core feature of NXT is decentralized asset issuance and trade. So I could, conceivably, use NXT to start a company and finance it by offering shares. Like a decentralized version of Havelock. Personally, I will never buy shares offered by someone like Friedcat or anyone on a platform like NXT because of trust. You'll have the tokens, which may or may not be backed with some small amount of NXT. But he'll have the hardware, plant, and equipment which is where most of the value would be. Friedcat was one of the most respected, trusted guys in bitcoin since 2011 with one of the biggest bitcoin companies ever. There's not going to be anyone more trusted unless there's a time machine. And most share offerings, like Labcoin, have turned out to be bunk.

This whole experiment in decentralized user-issued internet share offerings has been a massive failure wrought with scams and fraud. That's the first cloud hanging over NXT.

SatoshiDice was the closest thing to a real success in user-issued assets. What happened there? Voorhees ended up getting fined by the SEC for unauthorized, unregistered share offerings. So that's the second cloud hanging over NXT. People who offer shares are going to get fined or thrown in jail. So legitimate, trustworthy companies like Overstock, who actually do want to issue shares and use decentralized platforms, aren't going to do it because of legal liability

You may say "NXT has other features." Without the assets, what is NXT? You have a marketplace. But there's Open Bazaar and other platforms that are specifically designed to be marketplaces. Messaging? If I want to message people, I'll get on BitMessage or Gchat. Alias system? Doesn't really matter unless people are using the platform. In other words, the other features besides asset issuance are done better by other people or unable to attract users on their own merit. NXT will succeed or fail based on the strength of its core feature, which is asset exchange.

NXT is working on some additional features, like smart contracts. Ethereum raised millions and millions of dollars just to devote to designing a platform to handle smart contracts. No offense to NXT's developers, but I don't think you will be able to compete with full-time, top developers who are focusing 100% on a problem that you're doing as an add-on or side feature. Smart-contracts themselves are such an insanely ahead-of-its-time idea that I doubt will get any traction in the real world for years.

Finally, NXT has very few users. Some of you may think "If NXT gains that critical mass of users, it can really bloom." I really don't think so. In fact, if NXT had a bunch of users issuing shares, issuing money, and people were buying, I think you'd see so many scams and so much heat from financial regulators that it would make Wikileaks look like Wal-Mart.

I'm just not seeing it. Sorry. But as far as NXT's method of crowdfunding and distribution goes, it's not a scam. You can decide whether you think there's been enough time and volume for NXT to be distributed enough. The initial offer was public. No problems there.

ENRON.

All markets are fallible.

Scale matters.

On Havelock or NXT, 50% of the offerings have been and will be "ENRON" (i.e. some real business mixed with serious fraud)
On the NASDAQ, <1% of the offerings will be "ENRON."

An analogy might help. A bottle of ketchup in the grocery store is Grade A if it has less than a certain amount of insect eggs and feces in it. It's Grade B if it has a bit more. And Grade C if it has a bit more still. I'm fine with that. I buy hotdogs on the street sometimes. I'm sure I've had some Grade C ketchup every now and then.

But I'm not going to buy your ketchup if I can see that half the bottle is insect eggs.

So for you to say "Madoff! Enron!" just seems silly to me. The scale is not comparable. If you buy a "crypto-equity" it's worse than a penny stock. It's worse than the Wolf of Wall Street shenanigans. It's complete garbage. It does not have a future.

Those companies that are legitimate, have talented employees, and are willing to disclose their identities will find financing. They are not going to offer shares on NXT because they don't want to run afoul of the SEC. So who will be left to offer shares? Unscrupulous folks. It's almost like a reverse filter. NXT, if it gains any userbase (which I doubt it will), will attract more scum than Mos Eisley.

The SEC?  The United States doesn't own the world, buddy.

Just an example. Other countries, such as China and Japan, have financial regulators that don't allow people to issue shares to Chinese and Japanese citizens without registration.
In Russia, surrogate currencies are illegal, so have fun with user-issued money outside of the black market. China, Japan, Russia, and America together generate well over half of the world's GDP.

The possession of bitcoin is totally legal in just about every country. NXT's core functionality (asset issuance and trade) is not. It's possible that this will change in some countries, but not without a very long and expensive political battle.

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[Vega]

My real problem with user-issued "decentralized" assets is that they are far too centralized for my taste. The user issuing the asset tends to screw things up.

NXT itself can be considered a DAO/DAC. The problem is that it's not a profitable one.

NXT provides a platform. It's a given that it will be full of scams and failed projects if anyone can issue an asset. But that don't makes the technology itself any less promising.

There are efforts to make the legitim assets stand out. For one, this is the reason that assets are not listed in the nxt client anymore by default. Also, there are efforts to evaluate the assets independently.

But someone even could use the technology itself without even making the users aware of the counless junk.
For (a very simple) example anyone could launch a legitim business and provide RL companies with a service to launche assets for them. If they make their own UI, their clients don't even have to know that they are using NXT as a platform.

[Vega]

The possession of bitcoin is totally legal in just about every country. NXT's core functionality (asset issuance and trade) is not. It's possible that this will change in some countries, but not without a very long and expensive political battle.

Legality is another issue altogether.
Just because something is not legal it doesn't automatically mean it shouldn't be provided.
There is such a thing as lawful evil, more and more every day.

[jehst]

The possession of bitcoin is totally legal in just about every country. NXT's core functionality (asset issuance and trade) is not. It's possible that this will change in some countries, but not without a very long and expensive political battle.

Legality is another issue altogether.
Just because something is not legal it doesn't automatically mean it shouldn't be provided.
There is such a thing as lawful evil, more and more every day.

I agree totally. Morally, I think people should be allowed to issue shares and judge for themselves whether or not they trust the issues. I'm not pro-regulation.

I'm just looking at NXT as objectively as I can and trying to judge how far it can go in the next 5-10 years. Realistically, I see very little adoption happening and an uphill battle ahead of NXT. But I think it's absolutely a worthwhile fight and I'm with you spiritually.

[TulipMania Troll]

https://i.imgur.com/AcQ6w4h.png

[Hollowman338]

quick, everyone sell NXT, a troll with "troll" in it's sockpuppet name said so!!

[scarface]

of course its a scam but people are delusional when it comes to greed, so those who bought into the scheme will defend NXT and continue the process.

[Cryddit]

I agree totally. Morally, I think people should be allowed to issue shares and judge for themselves whether or not they trust the issues. I'm not pro-regulation.

There's government regulations, and then there's market self-regulation.  Assets issued by randoms have random value, heavily weighted toward the negative range.  Assets that can get the approval of a government, or in a non-governed situation get the approval of a reputable marketplace, because they meet certain basic standards of conduct, openness, and audit, inspire a lot more confidence.  

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.  In fact every marketplace has standards above and beyond those required by the government regulators.  If your company or your conduct fall too far below them, they'll delist your issue.  People can still trade it on their own, of course, but the market will have nothing more to do with it, and people will regard anything that can't meet the market's standards with justifiable suspicion.  

What NXT is doing, if I understand it correctly, is letting anybody issue tokens, and providing a platform for trading them, but not enabling anyone, nor any group, to designate or facilitate trading in only those that meet some minimum set of criteria.  

In other words, they've (temporarily) escaped the SEC/etc regulation that so many find onerous, but they've provided no way for voluntary marketplace self-regulation to work either. While I don't really give a rip which, you've really got to have at least one of those or your market will be dominated by scammers, because everybody who can stand any scrutiny, or have  an audit that doesn't declare them to be crooks,  can make a more profitable issue (ie, an IPO which, having withstood the examination of the regulators or market or both, will sell for more money) elsewhere.  

[Hollowman338]

of course its a scam but people are delusional when it comes to greed, so those who bought into the scheme will defend NXT and continue the process.

Don't cry, little DOGEy, your currency will fail for reasons completely unrelated to NXT.

[instacalm]

of course its a scam but people are delusional when it comes to greed, so those who bought into the scheme will defend NXT and continue the process.

I have 0 Nxt at this point and this is my opinion:

My point of view:

Nxt is a great project with a lot of development going on. The only unfortunate about nxt is that it's not really widely used / doesn't attract many people. However, as we all know basically every cryptocurrency/platform is facing this issue, including Bitcoin.

Its price might fall (or rise), but that doesn't change the fact that it is/has certainly been one of the top innovators in this sphere. That doesn't mean I have to agree with every advocator of Nxt (I don't), or hold Nxt "coins" (I had but now I don't) -- but I'm talking about it itself after all.

Realistically, I see very little adoption happening

+1, as with all cryptocurrencies/platforms

[jehst]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

[Hollowman338]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

my weekly coinomat dividends on the NXT asset exchange are kind of shitting all over your hypothesis right now.  Need a wet wipe?

[jehst]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

my weekly coinomat dividends on the NXT asset exchange are kind of shitting all over your hypothesis right now.  Need a wet wipe?

Ya, ASICMiner paid dividends from 2011 to 2015. It was a good run. One of my friends in real life had a seat on the board. Those seats were hundreds of thousands of dollars each at the share price peak. You're going to see what happens to your precious NXT assets.

[LiQio]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

Your bottom line:

- higher personal requirements on due diligence
- higher risk profile of offerings

I think this is part of the process. Both aspects will be improved over time - through experience (best practices on a general level as well as individual levels) and technologically (e.g. "multi-sig"-like properties).

You sound like a very defensive investor who got burned - I'm sorry for that.

But still: the road to more independence is stony, but it's probably necessary and right to start walking now.

[jehst]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

Your bottom line:

- higher personal requirements on due diligence
- higher risk profile of offerings

I think this is part of the process. Both aspects will be improved over time - through experience (best practices on a general level as well as individual levels) and technologically (e.g. "multi-sig"-like properties).

You sound like a very defensive investor who got burned - I'm sorry for that.

But still: the road to more independence is stony, but it's probably necessary and right to start walking now.

I have never once gotten burned by a crypto-equity because I've never bought one. I've mainly just bought bitcoin and just recently started looking at alts. I was very very close to buying ASICMiner but I decided that I didn't know enough about mining to get involved.

[LiQio]

What I'm saying is, if the SEC didn't regulate the market and require audits to be performed and disclosure documents to be filed, NASDAQ (or whatever the marketplace in your venue is) would still have to.

It's not just disclosure and audits. ASICMiner had reports, board meetings, audits, and photos and all kinds of disclosure. But the other thing that's missing with these underground user-issued asset schemes is the threat of violence (which the State provides if you pay them their protection money). With a user issued asset, all the audits and disclosure in the world can suddenly stop and someone just runs and nothing happens. Chinese take large-scale financial fraud very seriously and still execute people for 100 million dollar+ financial crimes. If ASICMiner were a stock traded in Shanghai, there would be a international manhunt for him spearheaded by China and he would be found and jailed or executed. What people don't get is that the threats of imprisonment and execution are the only things that make our contracts, shares, bylaws, and other pieces of paper mean anything. Either the DAO's shares are held by the open-source, trustless system itself (as in bitcoin) or you need the threat of violence to get people to honor their word.

I think part of the reason that people can't see this is because it's wrapped up in sexy technology. Cryptographic proofs. Hashing. Buzz words!

The reality of NXT is that you have a guy with a pizza shop. He prints out a bunch of pieces of paper that say "1/100 shares of Shady Pizza Shop" and you pay for them. And when it's time for your dividend, Shady stops answering his phone. Shady is gone. You call the police: "But..but.. I have the shares right here! He's a crook!"

COP: "So you're telling me you gave a guy money for this piece of paper and he said he was going to cut you in on his business? There's no business bank account to freeze? And there's no physical assets or physical evidence of any of this because the pizza shop is in Lithuania at an unknown address? And now you don't know his name or where he is? How fucking stupid are you?"

If you call the financial regulators, they may track him down and seize his money and get him in trouble. They're not necessarily going to give it back to you, LOL. They'll often just keep it. It's a joke. Criminals enforce their agreements with criminal violence. Non-criminals play by the rules and then get their agreements enforced with state violence. DAO shareholders and smart contract parties get their agreements enforced by code.

User-issued asset buyers get their agreements enforced by no one. It's painfully obvious to me that it's never going to catch on. But maybe I'm wrong.

Your bottom line:

- higher personal requirements on due diligence
- higher risk profile of offerings

I think this is part of the process. Both aspects will be improved over time - through experience (best practices on a general level as well as individual levels) and technologically (e.g. "multi-sig"-like properties).

You sound like a very defensive investor who got burned - I'm sorry for that.

But still: the road to more independence is stony, but it's probably necessary and right to start walking now.

I have never once gotten burned by a crypto-equity because I've never bought one. I've mainly just bought bitcoin and just recently started looking at alts. I was very very close to buying ASICMiner but I decided that I didn't know enough about mining to get involved.

In that case: I'm glad for you. I've gotten burned but I still believe in the cause.

[l8orre]

what's NxT doing other than thinking of the next scam?   

They don't do anything else than try the hype keep going to scam out more money from newbies, idiots and naive wannabe rich investors.

Besides that obvious fraudulent nature of the whole NXT operation from the start up to date, the endless vapourwares and pathetic assets on their "exchange", NXT offers nothing that is not possible to achieve with Bitcoin and for that reason the operation makes no sense whatsoever in a market where the lead status of Bitcoin is pretty much established.
Even Bitcoin is having serious problems with acceptance from real world users, after 6 years we have less users than a dating site. As we see, it will be hard work to achieve a wider acceptance even for Bitcoin. I am not sure what makes think NXT users that a shady scam operation can win over users which Bitcoin couldn't.

No wonder this NXT shit is going down quickly.

lol. poor idiot. go keep pumping your baggage tokens 

[Come-from-Beyond]

2 pages in a row and "Garzik" met 0 times. TaunSew, WTF?

[altcoinUK]

LoL ! altcoinUK's word against Daedelus.

Who's should I take as genuine ?

Lets see. In my experience one's a loudmouth cryptocurrency trainspotter who's most constructive contribution to this industry is finding endless new subjects on bitcointalk to use as target practice for his over-active pea-shooter.

The other's one of the most hard working, dedicated and respected people in crypto.

Right, it's clear I don't have to stop too long in this thread to know whats going on    Bye !

Now, that's typical. I came here by bringing to the table a totally objective, unbiased, fair and factually accurate analysis about this NXT nonsense by saying that the handful cheerleader wankers of this thread - who maniacally attack critical opinions about NXT - try keep the status quo of bringing new money  from naive investors and idiots who are willing to invest in this failing operation. And then, you reply with a personal attack to my constructive and polite input. I am totally shocked from your trolling and personal attack.

On the serious note, let me explain you what is happening, especially that I understand that usually you are having difficulties to get your head around of the true nature of a crypto project.

Yes, Daedelus is hard working all right - he works hard in maniacally trolling and attacking critical opinions, and I am sure you would agree that such behaviour is typically the first sign of a scam. If you do stock and angel investment in real world like I do then I am sure you agree that the strong indicator of a shady operation is when hyper active individuals (like Daedelus) are being deployed to troll out and discredit any critical voices. Ironically, the so called hard work of NXT cheerleaders is rather counter productive as their trolling rings more alarms and triggers more and more scepticism.
As for the subject of the hard work, it is an entirely different and indeed tragicomic matter. In this case the hard work means to protect a digital currency that is used by absolutely no one in real world use cases, try to bring new money from naive and newbie investors so the existing asset holders can keep dumping on the market as well as try to justify the shady IPO of a few anonymous wankers (please do not bother with your usual Satoshi is anonymous as well argument as Satoshi was not asking your money in a shady IPO nor in any other form).

You see, sometimes hard work results in very little productivity and minimal tangible/intangible result - in the case of NXT the hard work will result nothing except in a digital excrement and disappointment in the form of financial losses (for the late comers). The Maasai people of the Serengeti desert work hard as well, they walk all day to collect 10 gallon of water, but can you say their work is productive? Probably not, the hard work (even the decent one of the Maasai people) is not always the synonym of a productive operation. Bernard Madoff worked very hard too just like the NXT cheerleader trolls work tirelessly to keep the new money flow in going. Anyway, I apologize to the decent Maasai tribe to mentioning them together with the NXT trolls, not to mention, the shit that comes out from the goats of the Maasai people has been significantly more useful for mankind than this digital excrement NXT has been and ever will be.

Other issue obviously that the asset environment - one of the unique selling points of NXT - is a completely nonsensical proposition. Not that decentralized share offering and trade is a bad idea (though the lack of regulations on a decentralized share exchange is a valid concern), but it is simply illegal in all major economies, especially in the US it is classified as an illegal securities offering. Never mind, the "hard working" NXT cheerleader brigade work tirelessly to convince newbies and naive investors by promoting this illegal nonsense as a USP and a viable proposition.

Also, there are integrity issues. Even your BitBay cult leader the legendary David Zimbeck (who pulled out the biggest scam of 2014 with Bobby & Bter) has more integrity than this bunch of shady IPO cheerleaders could ever have. That's combined with the fact that super talented charlatans like jl777 aka James collect US$ 5 million for vapourwares under the umbrella of NXT should make this NXT shit a big NO-NO for any rational persons.

Finally and most importantly and which is pissing me off mostly, that the NXT cheerleader wankers try to discredit Bitcoin and Satoshi day after day by presenting this pile of shit on the market as the replacement for Bitcoin. Now, the enough is enough.

That's all my good friend and let me know if you have any questions.

[Daedelus]

...you reply with a personal attack to my constructive and polite input. I am totally shocked from your trolling and personal attack.

Fuck off with your requests about links, all right? I am a very patient and polite man, but when a well know scammer like yourself who has been promoting a well know scam asking from me evidence instead of providing evidence that the operation is not a scam then that is quite irrational, don't you think?

Send me a link about where your fucking useless NXT assets - that you have been selling really-really hard to newbies, idiots and naive investors - used in real world, and then we continue talking about why sensible people are sceptical about your countless vapourwares and fantasy projects (I give it you that it is not a fantasy from your viewpoint as you scam people for real money, but terms of use cases the projects/assets are in fantasy land)

 


Also...

*snip*... please provide evidence that I am "a well known scammer" and where I have been selling anything "really really hard". Thanks for your time  

Also, please point to where I am "maniacally trolling and attacking" anyone. Is this a new narrative you'e trying to push, hoping no one will check the facts? That's a familiar strategy to me.. this all feels so familiar  


Still no links to support your claims either. I know, try ignoring me and repeating the same thing over again? It might stick.


(I like your attempts to undermine me as a proxy of attacking Nxt, it is original. Please continue. It's a bold strategy, let's see if it pays off.)