NXT breaks into the top 5 coins by market capitalisation!

[romerun]

I value jimmy cap over market cap after witnessing dogecoin mcap surpassed btc few days ago. Fuck it.

[1714901313]

1714901313

[1714901313]

1714901313

[1714901313]

1714901313

[1714901313]

1714901313

[1714901313]

1714901313

[1714901313]

1714901313

[Vega]

Even with 100k coins right now you have a very very tiny chance of mining a block.

Unless I'm mistaken, with 100k nxt you would forge a block around every two days.
That's not too bad. Better than solo mining a CPU coin.

But I think that's not really the point.
There are hundreds of altcoins, that has no function, their only reason to be is to be mined.
That's nice if you can make money of it, but they have no real future.

If you look at Nxt (and other such coins in development) with a miners mindset, they look almost worthless, (or a scam, or ponzi, etc) especially if you factor in that the pricey mining rigs has no function in these systems.
The only way to look and evaluate them is what new ideas and functions they bring to the table.
But that's not the avarage miners way.

I agree with you on the initial distribution problem, but nothing do to about it now. Actually if you look at the traffic to and from dgex.com (exchange), the distribution are going really well, for a coin a few weeks old.
Of course there are still some big accounts, but we'll see what happens in a few weeks/months.

[cryptohunter]

Even with 100k coins right now you have a very very tiny chance of mining a block.

Unless I'm mistaken, with 100k nxt you would forge a block around every two days.
That's not too bad. Better than solo mining a CPU coin.

But I think that's not really the point.
There are hundreds of altcoins, that has no function, their only reason to be is to be mined.
That's nice if you can make money of it, but they have no real future.

If you look at Nxt (and other such coins in development) with a miners mindset, they look almost worthless, (or a scam, or ponzi, etc) especially if you factor in that the pricey mining rigs has no function in these systems.
The only way to look and evaluate them is what new ideas and functions they bring to the table.
But that's not the avarage miners way.

I agree with you on the initial distribution problem, but nothing do to about it now. Actually if you look at the traffic to and from dgex.com (exchange), the distribution are going really well, for a coin a few weeks old.
Of course there are still some big accounts, but we'll see what happens in a few weeks/months.

I agree to a certain extent that mining is not that important to distribution, actually it can be done away with altogether.  However the concentration of this distribution at the start was just way way way concentrated above any other coin.  Not only that, the mining/forging is now forever going to be in their favour too??  So not only do they hold the bulk of the coins, they will get the bulk of the forging?  seems weird.

NXT is tech amazing , distribution poor. This is not good for any objective reviews of this coin.

I like it, it can still succeed, however it could and should have been distributed more fairly. Or else some fairer model for forging.

[mr_random]

NXT sitting pretty at number 4. Any predictions for when it passes Peercoin to grab the number 3 spot?

[Come-from-Beyond]

NXT sitting pretty at number 4. Any predictions for when it passes Peercoin to grab the number 3 spot?

I think we won't see it on the 3rd place. It will jump straight to number 2.

[FrictionlessCoin]

Forging? or do you mean that side of it is not really important anyway?

It's important, but u mentioned only mining and said nothing about other Nxt features.

As soon as the source is revealed you can be sure this will be cloned and a much fairer initial distribution will be done.

I took at look at the Java files,  it is a typical web application with only 28 classes to manage its block chain.

It's a centralized system where all the coins were issued with a purchase price of 21 BTC.

How is this different from any non-centralized system creating virtual currencies?   You could in fact create the same thing with even better and more robust technology using Open Transactions.

There is absolutely no innovation here.  

Besides, if they were fair and confident with their creation, they would have the source code peer reviewed prior to anyone risking any of their hard earned money on it.

[Come-from-Beyond]

I took at look at the Java files,  it is a typical web application with only 28 classes to manage its block chain.

It's a centralized system where all the coins were issued with a purchase price of 21 BTC.

How is this different from any non-centralized system creating virtual currencies?   You could in fact create the same thing with even better and more robust technology using Open Transactions.

There is absolutely no innovation here.  

Besides, if they were fair and confident with their creation, they would have the source code peer reviewed prior to anyone risking any of their hard earned money on it.

U lie.

PS: Here r my replies to his post:

https://bitcointalk.org/index.php?topic=352286.msg4127395#msg4127395

[Caesar V]

Meanwhile the exchange seems to be fucking manual.. been waiting so long for my coins to arrive, not even funny anymore.

[Snail2]

It's important, but u mentioned only mining and said nothing about other Nxt features.

Well I'm afraid 99.99% percent of us want to forge NXT and then dump it for BTC. In better case we want speculate on further price rise and dump later . I wish if I would be wrong on this but I think I'm not. Actually because of the lack of services we can't spend it even if we would wish to spend.

BTW instead of "other NXT features" you guys should concentrate on the basics and make a working client as 0.4.4 crashing every 10 minutes.

[Come-from-Beyond]

BTW instead of "other NXT features" you guys should concentrate on the basics and make a working client as 0.4.4 crashing every 10 minutes.

We r working on that. Some guys provide very good stress-testing environment by DDoSing the system non-stop.

[Snail2]

We r working on that. Some guys provide very good stress-testing environment by DDoSing the system non-stop.

Yes, I seen it. I had to remove IP publishing as I've got torrents of teardown tcp connections what clogged a 100MB internet connection very effectively. According to my logs I think the client crashing because of it's unable to find a valid node within the connection timeout period.
 

[Snail2]

I agree to a certain extent that mining is not that important to distribution, actually it can be done away with altogether.  However the concentration of this distribution at the start was just way way way concentrated above any other coin.  Not only that, the mining/forging is now forever going to be in their favour too??  So not only do they hold the bulk of the coins, they will get the bulk of the forging?  seems weird.

NXT is tech amazing , distribution poor. This is not good for any objective reviews of this coin.

I like it, it can still succeed, however it could and should have been distributed more fairly. Or else some fairer model for forging.

I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released . Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" .) Unfortunately this will make the market even more illiquid.

[Come-from-Beyond]

I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released . Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" .) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.

[Snail2]

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.

I'm also running an eMunie test on a Raspberry Pi and it working smoothly. I can even hatch some test coins, so i don't need to invest 60-100 BTC for a smooth startup. Everybody can pre-order coins right now for peanuts, so their distribution model looks more balanced. The embedded assets management looks really fine and so on...

Please don't misunderstand me, I like your coin (I even read about the features .) and I think it could be a really big thing... as soon as you guys get the client working and can find out a way for a more balanced coin distribution. Maybe you should think about that "bank" what I mentioned earlier, or just put 1-2 million coins into a dedicated forging node and feed the output into a faucet.

You can say I missed the boat and now I'm pushing some kind of communistic agenda here to rip off ppl who risked their money or you can say I'm concentrating only on the forging aspect what clearly makes me a greedy bastard . To be frank you are right on the second sentence. As I think I can still catch this boat, I'm willing to invest into more NXT and forging nodes, but I expecting to see a fair return for my investments and I can achieve this goal only if NXT will be a widely used coin with lots of real world services. On the contrary the current distribution model encourages hoarding instead of using it and makes it a second BTC for speculators only, what doesn't fit to my get rich quick plan .

[maxidoge]

I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released . Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" .) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.

nxt - those 70 people who has ALL nextcoins are created Artificial Scarcity(http://en.wikipedia.org/wiki/Artificial_scarcity),
they sitting on their premined from genesis block millions and only a little % is in trading exchange.

I like nxt and all features, but this capmarket is total bullshit.

Emunie seems much better coin, has many similar features. yes, concept is different.
with emunie you will never 6000% growth, it was made for another purpose.

But the situation when 70 holders in NXT own 95% ALL premined coins, coz mining is closed.
In future big holders take biggest part of profit coz the sistem made in this way - more you have -> more you get.

So beatiful coin, i love it so much. But this shit make it looks like SCUM coin.
Only 70 people get everything grom genesis block and now they pump the price to the moon, when demand is high and they sell only fucking 1%.

And yes i have a little amount of it, and yes - i miss the train.
But this premine for normal people will be like a red rag to a bull, coz it obvious that now owners of genesis millions will control price in a way they want to and they want it to be high.
What next? after 5-6 month-1 year  they dump it and fast buy everything at cheap price? market manipulation become so simple if you have too much power.

[bitdwarf]

Rather than market cap, we should rank coins on the aggregated value of published buy orders. Market cap is meaningless without volume.

[stas]

It's not going to stop at number 5. It's going to number 2 within the next few months. And eventually number 1.

I doubt that:)

[Amph]

lmao number 1 is untouchable

[whorehay]

I think this is the reason because most of the "NXT community" will abandon NXT in ten minutes after eMunie released . Making some NXT banks where the small holders can group together and pile up enough coins to make forging effective could be a solution. (I intentionally avoided such terms as "group together against the stakeholders" .) Unfortunately this will make the market even more illiquid.

I like eMunie and if Fuserleer brings what he promised I'll put him on the same level as Satoshi. I still think that Nxt and eMu will co-exist.

nxt - those 70 people who has ALL nextcoins are created Artificial Scarcity(http://en.wikipedia.org/wiki/Artificial_scarcity),
they sitting on their premined from genesis block millions and only a little % is in trading exchange.

I like nxt and all features, but this capmarket is total bullshit.

Emunie seems much better coin, has many similar features. yes, concept is different.
with emunie you will never 6000% growth, it was made for another purpose.

But the situation when 70 holders in NXT own 95% ALL premined coins, coz mining is closed.
In future big holders take biggest part of profit coz the sistem made in this way - more you have -> more you get.

So beatiful coin, i love it so much. But this shit make it looks like SCUM coin.
Only 70 people get everything grom genesis block and now they pump the price to the moon, when demand is high and they sell only fucking 1%.

And yes i have a little amount of it, and yes - i miss the train.
But this premine for normal people will be like a red rag to a bull, coz it obvious that now owners of genesis millions will control price in a way they want to and they want it to be high.
What next? after 5-6 month-1 year  they dump it and fast buy everything at cheap price? market manipulation become so simple if you have too much power.

+1

[medveworld]

DOGE is th RULE! nxt suxx