Could NXT be a scam?

[mr_random]

This is just a theory, not fact.

The main attractive feature of NXT is it's decentralised peer to peer features exchange. Which apparently will come in january. The rest of the coin is a 100% premine based on proof of stake.

What if the exchange never appears? And he just pumped that up so he could sell 100 million of his coins for 6 bitcoin per million. Then he just disappears in january and the price plummets?

What do people think, is this far fetched or possible? Seen a lot of scams in this community...

[jgorham]

Yes it is possible at this point. The dev has been pretty active on the forum but under a pseudonym, so not a big reputation backing it. Additionally the source code is closed at this point so no security audits are possible.

I'm not suggesting it is likely that it is a scam, but it is possible.

[mr_random]

Yes it is possible at this point. The dev has been pretty active on the forum but under a pseudonym, so not a big reputation backing it. Additionally the source code is closed at this point so no security audits are possible.

I'm not suggesting it is likely that it is a scam, but it is possible.

I'm surprised more people aren't being cautious or discussing this possibility.

[wakasaki808]

I think the best thing to do is just wait for January to be sure. If in January the source code in any shape isn't released then maybe.

[kdrop22]

Yes it is possible at this point. The dev has been pretty active on the forum but under a pseudonym, so not a big reputation backing it. Additionally the source code is closed at this point so no security audits are possible.

I'm not suggesting it is likely that it is a scam, but it is possible.

I'm surprised more people aren't being cautious or discussing this possibility.

There have been lots of people warning over and over again about this.

I don't think the developer is trying to scam, but the fact that the initial investment of 21 BTC is now valued at 3 million USD gives me a pause. If you are buying right now, you are paying a huge premium, while having almost the same risk.

[opticalcarrier]

I think the best thing to do is just wait for January to be sure. If in January the source code in any shape isn't released then maybe.

client source is available.  or you can easily decompile it yourself

[Crystaleyes]

Easily?

 Personally, I gave up on NXT due to being unable to get the client software to install.

 Seems well dodgy to me.

[Come-from-Beyond]

... but the fact that the initial investment of 21 BTC is now valued at 3 million USD gives me a pause.

Read more about Mastercoin. 

[PGPpfKkx]

I don't think the developer is trying to scam, but the fact that the initial investment of 21 BTC is now valued at 3 million USD gives me a pause. If you are buying right now, you are paying a huge premium, while having almost the same risk.

isn't it so with any currency in its genesis