NXT coin - A total scam?

[2Kool4Skewl]

The market on this coin has already been cornered, so it's succeptible to market manipulation. The unknown developer could have sold the coins to himself at a high price in order to give it a high "market capitalization." He may make money off it, but the coin itself isn't going anywhere. This coin, however, is interesting in that it illustrates the absurdity in using market capitalization, monetary base, or whatever you want to call it, as a metric for crytocurrencies. https://bitcointalk.org/index.php?topic=373282.msg3993938#msg3993938

No one is using marketcap as a metric for success of Nxt, many were actually against listing on marketcap.  Furthermore, if you knew the history of the currency, you would know the developer (BCNext) isn't making $ off the coin.  Nxt is offering something very different in the crypto market, you will see this come Jan/Feb.

This is idiocy. Learn to use the search function and enter the words Market Capitalization. Check out the website http://coinmarketcap.com/.

It makes no difference whether the developer is making any money off the coin. The point is that your tiny market has already been cornered. Anyone who buys your coin is a fool.

Your coin is a poster boy for the trash that is polluting the cryptocurrency environment.

Yes, I realize Nxt is on marketcap, what I'm saying is that I, along with several Nxt users, don't believe in measuring Nxt success based on marketcap value at this moment.  Nxt will have a decentralized exchange, messaging, etc.. so there will be many transactions that go unrecorded anyways (which is the point).  Your opinion is just that, but I would disagree that Nxt is polluting the cryptomarket.  Every BTC fork is polluting the environment, Nxt is trying to create something new.  I think either way, we will know in a couple weeks how Nxt will pan out. 

Please re-read your post. You said No one is using marketcap as a metric for success of Nxt. That is not true, and it's an important point. Too many people take market capitalization to be a good metric.

You said "I would disagree that Nxt is polluting the cryptomarket.  Every BTC fork is polluting the environment" Are you now claiming that Nxt is not a bitcoin fork, or are you incapable of carrying a coherent thought from one sentence to the next, with out contradicting yourself?

Some altcoins are not trash at all, but yours is. The fatal flaw, irrespective of whether it is truly innovative, which it isn't, and is written in a crap language like Java, is that you have the market cornered. The leading post presented evidence that your coin might be a scam. I'm saying that it doesn't even matter whether or not it is a scam, because you have cornered the market upon launch.

Really, you don't think it's innovative?  Obviously, you haven't bothered to read anything about Nxt.  One of the first things stated in the main Nxt thread is that it is NOT a fork of bitcoin.

[MyZhre]

    Miztaziggy who longed for NXT coin, beholds with pain
    The tempting clusters were too high to gain;
    Grieved in his heart he forced a careless smile,
    And cried ,‘They’re scam and hardly worth my while.’

Miztaziggy is a douche bag lets just ignore this stupid ass

[superresistant]

    Miztaziggy who longed for NXT coin, beholds with pain
    The tempting clusters were too high to gain;
    Grieved in his heart he forced a careless smile,
    And cried ,‘They’re scam and hardly worth my while.’

HAHAHAHAHA  Bravo! Bravo!  Take a bow.

Merci.

[btbrae]

Problem with these coins, that say "we're going to have this, we're going to have that"... etc. Is that they DON'T. They DON'T already have this, and they DON'T have that, they are just proposals. And going from proposals to the real thing is actually a HUGE step, it takes a lot of coding, a lot of long nights nailing bugs, from several developers, to code anything substantial. And this in a very fast moving sector where there is more and more competition every day for the same kinds of features.

You will probably meet people in the real world that are the kind of people with big ideas and always coming up with ways to make money, but they never get on and do it. They have the imagination but not the drive and determination to take an idea all the way, whether they have backing or not, they lose interest somewhere amidst the sheer amount of problems that can appear when trying to do something new and innovative.

This is the risk you take when investing in these "dreamers", some will take their project all the way, but many more won't. Watch out for projects stagnating because that could be the end of your investment.

[Come-from-Beyond]

Problem with these coins, that say "we're going to have this, we're going to have that"... etc. Is that they DON'T. They DON'T already have this, and they DON'T have that, they are just proposals. And going from proposals to the real thing is actually a HUGE step, it takes a lot of coding, a lot of long nights nailing bugs, from several developers, to code anything substantial. And this in a very fast moving sector where there is more and more competition every day for the same kinds of features.

You will probably meet people in the real world that are the kind of people with big ideas and always coming up with ways to make money, but they never get on and do it. They have the imagination but not the drive and determination to take an idea all the way, whether they have backing or not, they lose interest somewhere amidst the sheer amount of problems that can appear when trying to do something new and innovative.

This is the risk you take when investing in these "dreamers", some will take their project all the way, but many more won't. Watch out for projects stagnating because that could be the end of your investment.

These words r too vague.

[User705]

There is no fair way to distribute a limited resource.  If this concept works it would be superior to the current crypto generation model.

[msin]

Problem with these coins, that say "we're going to have this, we're going to have that"... etc. Is that they DON'T. They DON'T already have this, and they DON'T have that, they are just proposals. And going from proposals to the real thing is actually a HUGE step, it takes a lot of coding, a lot of long nights nailing bugs, from several developers, to code anything substantial. And this in a very fast moving sector where there is more and more competition every day for the same kinds of features.

You will probably meet people in the real world that are the kind of people with big ideas and always coming up with ways to make money, but they never get on and do it. They have the imagination but not the drive and determination to take an idea all the way, whether they have backing or not, they lose interest somewhere amidst the sheer amount of problems that can appear when trying to do something new and innovative.

This is the risk you take when investing in these "dreamers", some will take their project all the way, but many more won't. Watch out for projects stagnating because that could be the end of your investment.

I agree, however Nxt is only a few weeks old and already we have some very innovative projects in development and several already released. 

[instacalm]

I agree, however Nxt is only a few weeks old and already we have some very innovative projects in development and several already released.  

Could you post what these innovative projects are? I'm curious!

[headpolo]

https://bitcointalk.org/index.php?topic=381038

[timmyd]

Actually pissing myself laughing at threads like this claiming nxt to be a scam. I think you will find nxt ismt even a coin. 99% of the cloned crap coins are scams. Fact. They dont bring anything to the crypto world. Nxt on the other hand has already proven its worth over all other coins yesterday when the alias registration was released. Do your crap coins offer this? I think not. Nxt is already out performing every alt coin goin and the best thing is its still only in beta. What does that tell you. All the folks screaming scam dont have any nxt they hold a shit ton of crapcoins. Well your crap coins are bexoming ultimatley worthless. I suggest you stop scare mongering and sell your crap coins now to buy nxt. But i would say that wouldnt i being a nxt holder myself.
Newbies ignore troll threads like these and make your own mind up head over to the nxt thread and you will see how our community is working round the clock to get nxt to its full potential. The op here is just pissed his alt coins dropped half there value.   

[Come-from-Beyond]

wait for the first fork without the premine story to come out and it's history.

I bet u didn't notice that Nxt is 100% proof-of-stake currency. Or maybe u know how to distribute initial coins?

[timmyd]

Actually pissing myself laughing at threads like this claiming nxt to be a scam. I think you will find nxt ismt even a coin. 99% of the cloned crap coins are scams. Fact. They dont bring anything to the crypto world. Nxt on the other hand has already proven its worth over all other coins yesterday when the alias registration was released. Do your crap coins offer this? I think not. Nxt is already out performing every alt coin goin and the best thing is its still only in beta. What does that tell you. All the folks screaming scam dont have any nxt they hold a shit ton of crapcoins. Well your crap coins are bexoming ultimatley worthless. I suggest you stop scare mongering and sell your crap coins now to buy nxt. But i would say that wouldnt i being a nxt holder myself.
Newbies ignore troll threads like these and make your own mind up head over to the nxt thread and you will see how our community is working round the clock to get nxt to its full potential. The op here is just pissed his alt coins dropped half there value.  

Why would anyone buy NXT now for the current price? It is worthless and it's stakeholders are sitting on most of the 100% premined coins. Anyone who buys this garbage now is insane in my mind.

wait for the first fork without the premine story to come out and it's history.

You obviously dont know a good investment when u see it pal. Why invest in a $12,000 asic mining rig when you could invest $12000 in nxt atm and forge nxt for no elec costs. Also why would anyone continue with alt coins that have bloated block chains that will iventually destroy them selves as it becomes too big for the average user to download? And you will find that the top 70 acc that started with nxt hold around 250 million which is only a 1/4 of total nxt? Why wouldnt you want to be involved with the firat ever decentralised messaging service/exchange. Time and technology is moving on keep up pal. Nxt is cheap at the current pruce but hey you go ahead and miss the boat and buy in at 0.1btc upto you.

[cottonpaper]

There is no proof that this coin is anything more than a cheap imitation sold for 21 BTC and now trying to be sold for 6000 BTC.

Would the source code help u to come to a conclusion if it's imitation or not?

Yes, of course, the full and uncut source code proving these advanced features and an actual difference from BTC would prove me wrong. And I would be happy to be proved wrong.

Judging by the talk over at nxt forum, it does seem that the source code isn't going to be released though, not fully. That almost solidifies the doubt for me now.

As I said over on Nxt forum, if I wanted to try and scam people out of BTC, it would be easy to create a really basic coin and really basic interface (full of bugs) with the promise of so much more hidden in the source code, all to come in the not to distant future.

But, before it comes, let's sell off this coin at a rate equal to 6000 BTC for the whole lot.

The little bit of source code there is will be released in dribs and drabs to try to keep interest alive whilst the inital stock is sold.

Once interest fades or anger arises from the lack of transparency, it's too late, there will have been hundreds of BTC invested, the creator has had his money, everyone else loses theirs as the coin collapses.

well, miztaziggy. looks like you have some experiences in this.
your detailed presentation here how it *could* be, tells more about *you* than you think.
hopefully you don't get the sources to early into your hands.

miztaziggy is simply asking questions and raising concerns. what is wrong with that?

if you got solid stuff, why don't you lay your arguments here instead of bashing?

[timmyd]

There is no proof that this coin is anything more than a cheap imitation sold for 21 BTC and now trying to be sold for 6000 BTC.

Would the source code help u to come to a conclusion if it's imitation or not?

Yes, of course, the full and uncut source code proving these advanced features and an actual difference from BTC would prove me wrong. And I would be happy to be proved wrong.

Judging by the talk over at nxt forum, it does seem that the source code isn't going to be released though, not fully. That almost solidifies the doubt for me now.

As I said over on Nxt forum, if I wanted to try and scam people out of BTC, it would be easy to create a really basic coin and really basic interface (full of bugs) with the promise of so much more hidden in the source code, all to come in the not to distant future.

But, before it comes, let's sell off this coin at a rate equal to 6000 BTC for the whole lot.

The little bit of source code there is will be released in dribs and drabs to try to keep interest alive whilst the inital stock is sold.

Once interest fades or anger arises from the lack of transparency, it's too late, there will have been hundreds of BTC invested, the creator has had his money, everyone else loses theirs as the coin collapses.

well, miztaziggy. looks like you have some experiences in this.
your detailed presentation here how it *could* be, tells more about *you* than you think.
hopefully you don't get the sources to early into your hands.

miztaziggy is simply asking questions and raising concerns. what is wrong with that?

if you got solid stuff, why don't you lay your arguments here instead of bashing?
Why label a thread scam if you are unsure of the subject you are labelling scam?

[relm9]

I found the lack of available source code at launch to be extremely suspect. That it isn't based on Bitcoin is all the more reason for the devs to be transparent as possible. Who cares if someone clones it - there were plenty of clones released when Bitcoin was still relatively small and that didn't hurt it.

At any rate, I find NXT intriguing but I'm not buying any until the source is released.

[timmyd]

I found the lack of available source code at launch to be extremely suspect. That it isn't based on Bitcoin is all the more reason for the devs to be transparent as possible. Who cares if someone clones it - there were plenty of clones released when Bitcoin was still relatively small and that didn't hurt it.

At any rate, I find NXT intriguing but I'm not buying any until the source is released.

That my friend is how to go about telling ppl your thoughts. U didnt instantly shout scam from the roof tops like other that are unsure of this new tech. You will be pleased to know that the core source code will be released on the 3rd january 2014 hope to see u in the community.  Please do follow the official nxt thread updated info for all the answers you require

[adrian33]

I bought $6 worth of nxt. Feel really, really weird about it.

[Cryddit]

The bitcoin source was released, inspected by people with the know how and no major flaw found - hence BTC is relatively stable and I have trust in it. I trust that it isn't a cheap badly written piece of crap that will get ditched and leave every investor with nothing.

Nxt follows in Bitcoin footsteps. Bitcoin wasn't open source from Day 1. Care to beat this argument?

Sorry, this is just wrong.  I have an archive of the Bitcoin source from November 2008 -- IE, from 3 months before it went live.  And during that 3 months, Satoshi was working on it *with* the assistance of several serious cryptographers. Updates of the code were available every day.  

You can't just lie like that.

[timmyd]

The bitcoin source was released, inspected by people with the know how and no major flaw found - hence BTC is relatively stable and I have trust in it. I trust that it isn't a cheap badly written piece of crap that will get ditched and leave every investor with nothing.

Nxt follows in Bitcoin footsteps. Bitcoin wasn't open source from Day 1. Care to beat this argument?

Sorry, this is just wrong.  I have an archive of the Bitcoin source from November 2008 -- IE, from 3 months before it went live.  And during that 3 months, Satoshi was working on it *with* the assistance of several serious cryptographers. Updates of the code were available every day.  

You can't just lie like that.

Just think as nxt as what it atm beta. Source code out jan 3rd 2014 then you can say what you like. Atm ppl are very interested in it hence the buying and selling so early

[virtualaddict]

wait for the first fork without the premine story to come out and it's history.

That'll be a little hard to do without the source code being released first, ya? Don't you think someone would have done it by now if it were that easy? I agree the premine situation wasn't perfect but at least it was fair and open to the community.