I'm dumping Nxt and here's why you should too

[Daedelus]

You are completely avoiding the fact that their are many ways to gather metrics as to NxT's falling marketshare within the crypto ecosystem as I have just shown. Even brand new coins like Stellar and Paycoin are ousting NxT when studying metrics other than market cap.

It is because I am relaxed about it.

Let's see... from memory


Peercoin, Darkcoin, Counterparty, Banxshares?, Mastercoin, Blackcoin, Monero, Auroracoin and probably many others have all "ousted" Nxt in the last year. Where are they now? Just because the frequency is picking up doesn't change anything.

Nxt has shown it has staying power through solid devs, regular stable releases, innovative features and a large community. It is still early days.

Perhaps you should do your alexa analysis at regular intervals to see the change over time, then it would be more meaningful.


Add in the blockchain data about increasing adoption and use from here...

The blockchain data shows ever increasing adoption, I don't think anybody expected Bitcoin levels of transactions after just 1 year. But they are increasing.

https://nxtblocks.info/#section/blockexplorer_charts

I am using May 2014 as that was the launch of the first major feature users could use, Asset Exchange.

Transactions per day has gone up more than ten fold.

May 14: 200 - 500 transactions per day
Jan 15: 5500 - 7000 transactions per day

The growing steepness of the curve in Cumulative transactions per day shows how transactions are increasing at a faster and faster rate.


With the  transactions per day increasing, the Average transactions per block per day is also rising, which is good for forgers.

May 14: 0.3 - 0.6 transactions per block per day
Jan 15: 8 - 11 transactions per block per day


No crypto shows signs of wide adoption (even Bitcoin). Nxt does show positive, concrete signs of growing adoption and at an ever increasing rate. Something must be going right  

I have noticed a couple of guys pushing this "Nxt is dying" vibe over the last day or so.  . The facts are that people like Nxt and people use it. The blockchain data and the standard 100+ people online at nxtforum.org supports this. Open your eyes  

And it quite hard to make the characterisation your are attempting to make stick. Nxt is on the up, even in a very bear market. Those that try Nxt, like it. This shows adoption and use are increasing (at an ever increasing rate).

[jones_]

nxt is a crypto in constant development and doing research into the best systems, so I would venture to guess that statistics related to unpaid people helping out the platform, and developer, research and project development would slide in nxts way.

anything relating to VC money will be weighted against nxt as that's not the route we've taken

You understand that VC money pays for professional developers right? You understand that NxT has a fraction of devs compared to those working directly for bitcoin core or on bitcoin projects, right?

Or are you under the impression that NxT actually has more development?

I am under the impression that nxt has gotten much more done in its first year of development than most if not all other cryptos and will continue to do so.
bitcoin got a head start and got the ball rolling, but it is possible for better systems to exist.

[inBitweTrust]

I am under the impression that nxt has gotten much more done in its first year of development than most if not all other cryptos and will continue to do so.
bitcoin got a head start and got the ball rolling, but it is possible for better systems to exist.

No argument there. Nxt is certainly better than many shitcoins and scamcoins, but that not the context of the discussion now is it?

You are completely avoiding the fact that their are many ways to gather metrics as to NxT's falling marketshare within the crypto ecosystem as I have just shown. Even brand new coins like Stellar and Paycoin are ousting NxT when studying metrics other than market cap.

It is because I am relaxed about it.

Let's see... from memory


Peercoin, Darkcoin, Counterparty, Banxshares?, Mastercoin, Blackcoin, Monero, Auroracoin and probably many others have all "ousted" Nxt in the last year. Where are they now? Just because the frequency is picking up doesn't change anything.

Nxt has shown it has staying power through solid devs, regular stable releases, innovative features and a large community. It is still early days.

Perhaps you should do your alexa analysis at regular intervals to see the change over time, then it would be more meaningful. Your links show nxt.org has climbed from position 630,000 to its current position of 450,000 in the last 3 months. The same is true for nxtforum.org, it has gone from ranked at 310,000 to 197,000 in the last 3 months.


Add in the blockchain data about increasing adoption and use from here...

The blockchain data shows ever increasing adoption, I don't think anybody expected Bitcoin levels of transactions after just 1 year. But they are increasing.

https://nxtblocks.info/#section/blockexplorer_charts

I am using May 2014 as that was the launch of the first major feature users could use, Asset Exchange.

Transactions per day has gone up more than ten fold.

May 14: 200 - 500 transactions per day
Jan 15: 5500 - 7000 transactions per day

The growing steepness of the curve in Cumulative transactions per day shows how transactions are increasing at a faster and faster rate.


With the  transactions per day increasing, the Average transactions per block per day is also rising, which is good for forgers.

May 14: 0.3 - 0.6 transactions per block per day
Jan 15: 8 - 11 transactions per block per day


No crypto shows signs of wide adoption (even Bitcoin). Nxt does show positive, concrete signs of growing adoption and at an ever increasing rate. Something must be going right  

I have noticed a couple of guys pushing this "Nxt is dying" vibe over the last day or so.  . The facts are that people like Nxt and people use it. The blockchain data and the standard 100+ people online at nxtforum.org supports this. Open your eyes  

And it quite hard to make the characterisation your are attempting to make stick. Nxt is on the up, even in a very bear market. Those that try Nxt, like it. This shows adoption and use are increasing (at an ever increasing rate).

Now you are just rehashing irrelevant points. Yes, I have already stated that our whole ecosystem is growing which of course means that despite NxT losing marketshare within it it is still growing along with everything else(including the scam coins), thus one would expect wallets to increase, transactions to increase, and pageviews to increase.

Please stay on subject. NxT is losing marketshare within the crypto ecosystem and being pushed aside in favor of different options. This is likely going to continue to escalate.

I.E.... Ethereum when lauched will certainly overtake NxT and Counterparty may surpass NxT this year as well with its backing from Overstock. Other contenders to watch out for are Storj, maidsafe, and factom.

[Daedelus]

As I said above (for the first time), I am relaxed about this as there have been many coins come and go. The time between each new coin is just decreasing. This will be no different.

Look back at CMC one year ago, the numbers don't matter but these are obviously what were in people's minds:


Bitcoin
Ripple
Litecoin
Peercoin
Mastercoin
Nxt
Namecoin
Quark
Megacoin
Worldcoin
Primecoin
Feathercoin
Novacoin
Infinitecoin
Dogecoin
Netcoin
Devcoin
Anoncoin
Tickets
Freicoin
Terracoin
Copperlark
Cryptogenic Bullion
Ixcoin
Earthcoin
Zetacoin
GoldCoin
BBQCoin
Fastcoin
Memorycoin
Mincoin
Sexcoin
Junkcoin
... and on and on and on


All the ones scrubbed out are the ones who have actually lost 'mindshare' as they are no longer considered relevant. Most of them have faded to insignificance. Nxt is still slugging it out after a whole year.

I think you could do the same from 6 months ago and find the results are very similar.

There is a current surge to "corporate cryptos" (Ripple, Stellar, Bitshares, Paycoin) in an attempt to change bank balances rather than the world. I think the frequency of these will increase as more money is made. But it doesn't diminish the "change the world cryptos".

I think your timeframes are too short. Marketcap rankings can be relevant over long periods, let's see if PayCoin is still as important as the market suggests it is in 1 year from now..

[inBitweTrust]

I think your timeframes are too short. Marketcap rankings can be relevant over long periods, let's see if PayCoin is still as important as the market suggests it is in 1 year from now..

Well you keep arguing points I am not making, but we can both hope and agree for the above.

 You seem to be blasé about the fate of NxT because you are comparing it to scamcoins and P&D coins, while I am worried about Bitcoin and see it fighting for survival, and its enemies don't include NxT. Don't let your Hubris get the better of you....

[jones_]

I think your timeframes are too short. Marketcap rankings can be relevant over long periods, let's see if PayCoin is still as important as the market suggests it is in 1 year from now..

Well you keep arguing points I am not making, but we can both hope and agree for the above.

 You seem to be blasé about the fate of NxT because you are comparing it to scamcoins and P&D coins, while I am worried about Bitcoin and see it fighting for survival, and its enemies don't include NxT. Don't let your Hubris get the better of you....

I see bitcoin surviving for a while more, its hard to refute that, but as a system, there are improvements that can be made.

I hope that bit coins enemies aren't alts, its more like cryptos enemies are anything not crypto and centralized.

in the move towards more efficient and advanced crypto, I believe nxt will outpace bitcoin, some people dont see that, no harm in that.

[inBitweTrust]

in the move towards more efficient and advanced crypto, I believe nxt will outpace bitcoin, some people dont see that, no harm in that.

Well despite Bitcoin capitulating , Nxt is shrinking faster so it will have to pull a 180. When do you think NxT will start growing in market share(not necessarily market cap) in our ecosystem?

[Daedelus]

I think your timeframes are too short. Marketcap rankings can be relevant over long periods, let's see if PayCoin is still as important as the market suggests it is in 1 year from now..

Well you keep arguing points I am not making, but we can both hope and agree for the above.

I think my posts perfectly answer your claim that Nxt is losing mindshare, concluding that your timeframes are too short.  

You seem to be blasé about the fate of NxT because you are comparing it to scamcoins and P&D coins, while I am worried about Bitcoin and see it fighting for survival, and its enemies don't include NxT.

It is also easy to say the coins a year ago were scamcoins but what is implicit in that post is that a significant proportion of crypto users at the time didn't see them as scamcoins. It is easy to call it now with hindsight. And I think it is likely many are just failed projects, which aren't the same as scams. Can you confidently predict today, which of the top 20 cryptos won't be in the top 20 next year?

Don't let your Hubris get the better of you....

One day at a time. If Nxters keep doing what they are doing, we will all do all right  

[Daedelus]

in the move towards more efficient and advanced crypto, I believe nxt will outpace bitcoin, some people dont see that, no harm in that.

Well despite Bitcoin capitulating , Nxt is shrinking faster so it will have to pull a 180. When do you think NxT will start growing in market share(not necessarily market cap) in our ecosystem?

You haven't shown that your claims have any merit. Since BTC started diving, both BTC and Nxt have lost about 38% equally. Where do you define the start of 'bitcoin capitulating'?

If you measure these claims based on your opinion, I think we are wasting our time.. 

[inBitweTrust]

I think my posts perfectly answer your claim that Nxt is losing mindshare, concluding that your timeframes are too short.  

I have stated the exact opposite multiple times suggesting that our whole ecosystem is growing so many coins are increasing in mindshare:

With regards to losing marketshare/mindshare I will again admit I was somewhat incorrect as losing market cap does indicate
a decrease in marketshare in our ecosystem while other currencies and assets take over, it can be misleading as the whole
crypto-ecosystem is growing including NxT. Thus Nxt is increasing mindshare worldwide, but decreasing marketshare
 within crypto-currencies.

You haven't shown that your claims have any merit. Since BTC started diving, both BTC and Nxt have lost about 38% equally. Where do you define the start of 'bitcoin capitulating'?

I was looking at the both the last 6 months and the last year(to address the OP).
As other have previously stated and I admitted we can both be right if we cherry pick the dates to compare price and market cap so lets not waste our time on that.

The point is that NxT is being surpassed in marketshare dropping from 4 to 8 or 9 in market cap. Despite all of the flaws with market cap , the data is supported by other facts like those same currencies that are surpassing have much higher traffic to both main sites within nxt. The evidence is all there to review and I have backed it all up with links and numbers.

Sure it is possible that paycoin may eventually fall off but there are 4-5 other currencies/assets that will shortly take its place above NxT. Nxt is becoming increasingly irrelevant.

[Daedelus]

I am getting tired.

You said Nxt is decreasing in mindshare. I disagreed. But it seems to already conceded this before so we are in agreement. So you believe Nxt is getting bigger in the real world, but decreasing in its market share in the pump-and-dump crypto world (if only in the short term)? And this is a bad thing?

I scrubbed the rest of my reply. I am happy to settle with you, I think I was arguing a point you had already accepted.

If Nxt keeps on growing in the real world, this is better than trying to keep a volatile percentage of the latest set of pump and dumps (that I have shown don't last) steady. Bitcoin dominates this percentage also so the metric is skewed/leveraged from the get go, they are all tiny numbers.

 In the long run, one guy/gal using and talking about Nxt in the real world is worth 10 in the cryptoworld who just buy, hoping for a pop. More value will flow from that usage than convincing speculators on BTT to buy to make our numbers look better.  


How can you say "Nxt is increasing mindshare worldwide" and "Nxt is becoming increasingly irrelevant" in the same post?  


I am starting to feel I am being trolled. But that was the reason you said you bumped this thread...

There are somethings I like about NxT but I do tend to get annoyed that many alt users have been trolling our sections and attacking Bitcoin. I haven't gone so far as to repaying in kind on their boards but have started to push back here.

... so maybe I should have known.


I am going to take a break




You say marketcap is a bad measure but appear to accept that changes over time have merit. I have shown this supports Nxt in maintaining support over the long term of a year.

You say alexa supports you, I said it is only useful if you monitor it over time (as above). But you continue to rely on just a single snapshot. I wouldn't say this particularly supports either position. I would also like to see Nxt's stats at an equivalent of being 1-3 months out of the gate (this would be problematic due to different markets) but comparing a new excitable coin to one that has matured isn't a reasonable comparison if you are considering using web hits as a useful metric.

I say Nxt is growing, on many blockchain metrics, in a bear market. You seem to accept this.
 

[Come-from-Beyond]

The point is that NxT is being surpassed in marketshare dropping from 4 to 8 or 9 in market cap.

And again I spot flaws in your logic.

You are talking about marketshare, though it's not clear what market you mean. If it's global market, then you already was told that CMC doesn't include data from Asset Exchange et al., hence it can't be global market. If you are talking about market of centralized fiat exchanges then you already was told that this data is incorrect (Paycoin was referred as a proof of this claim, Ripple can be another example and, hehe, Bitcoin as yet another example).

Your turn.

[inBitweTrust]

And again I spot flaws in your logic.

You are talking about marketshare, though it's not clear what market you mean. If it's global market, then you already was told that CMC doesn't include data from Asset Exchange et al., hence it can't be global market. If you are talking about market of centralized fiat exchanges then you already was told that this data is incorrect (Paycoin was referred as a proof of this claim, Ripple can be another example and, hehe, Bitcoin as yet another example).

Your turn.

I already provided evidence that the market cap was accurately supported by other evidence from internet traffic and provided the data.
I have already shown that Bitcoin assets exceed NxT assets.

Are you trying to suggest that there exists many more assets beyond this list with a significant marketcap?:

 SuperNET   $2,746,021
Pangea Poker   $703,643
jl777hodl   $431,769
Jinn   $391,039
Nxttycoin   $338,401
SkyNET   $236,108
Coinomat   $223,300
MMNXT   $80,921
MGW   $76,822
NEMstake   $71,315
NobleNXT   $38,024
NXTInspect   $24,935
HRLTCGEAR   $14,778
OpalTKN   $11,316
VultMining   $5,877
CoinoUSD   $1,253,104
NXTventure   $817,258
InstantDEX   $754,392
NXTprivacy   $377,183
sharkfund0   $364,554
Tradebots   $361,013
Privatebet   $210,727
NeoDICE   $210,601
CryptoCoins   $143,603
ltc2nXt   $140,089
FreeMarket   $118,590
ATOMIC   $115,045
Dorcs   $63,782
Bithaus   $61,784
HRNXTPool   $38,977
ltc2nXt3   $10,244
NXTmovie   $9,180
BearMining   $8,808
ach   $6,900

Total NxT assets= $10,460,103

------------------------------------------
Bitcoin Assets

MaidSafeCoin   Mastercoin   $13,788,865
Gems   Counterparty   $1,561,026
Swarm   Counterparty   $1,378,357
Storjcoin X   Counterparty   $842,378
FoldingCoin   Counterparty   $423,143
LTBcoin   Counterparty   $40,577
APICoin   Mastercoin   $58,922

Total Bitcoin assets= $18,093,268 (not including the fact that almost all Bitcoin "assets" are held in private companies not including this list)

[inBitweTrust]

You are indicating that Dogecoin, Stellar, paycoin, litecoin, ripple do not have assets  like Bitshares, Bitcoin , and NxT have.

If one includes those assets as part of NxT than you are less wrong. If we are talking about NxT the currency than you are more wrong.
So the NxT currency has been losing market share but the NxT ecosystem has had a market share of (~22.5million total including assets)meaning it has dropped from 4th to 6th in total ecosystem marketshare?

From looking here -
http://nxter.org/sorted-nxt-asset-exchange-listing/

It appears that many of these non-"publicly" traded assets are just investment projects using Nxt. There are many companies with vested assets with the other coins above NxT....shouldn't we include those too?

Should we include GAWs assets in Paycoin?
How About the thousands of Bitcoin companies assets in Bitcoin?
What about all of bitcoins securities and stock issuance's?
How about a percentage of the banks assets that depend upon Ripple/stellar?
 

[Come-from-Beyond]

Are you trying to suggest that there exists many more assets beyond this list with a significant marketcap?:

...
Jinn   $391,039
...

This number is incorrect. Jinn has already passed the 1st milestone and extra tokens are considered released to the market. Its market cap should be displayed as $1,094,909. I spotted this error because I'm involved in Jinn, how many errors in other assets? CMC reports incorrect data and I have just showed that. Your proof did "poof", you should revise your position.

[Come-from-Beyond]

It appears that many of these non-"publicly" traded assets are just investment projects using Nxt. There are many companies with vested assets with the other coins above NxT....shouldn't we include those too?

We should, come back when you have numbers, for now your words are backed only by speculations.

[Eamorr]

As I said above (for the first time), I am relaxed about this as there have been many coins come and go. The time between each new coin is just decreasing. This will be no different.

Look back at CMC one year ago, the numbers don't matter but these are obviously what were in people's minds:


Bitcoin
Ripple
Litecoin
Peercoin
Mastercoin
Nxt
Namecoin
Quark
Megacoin
Worldcoin
Primecoin
Feathercoin
Novacoin
Infinitecoin
Dogecoin
Netcoin
Devcoin
Anoncoin
Tickets
Freicoin
Terracoin
Copperlark
Cryptogenic Bullion
Ixcoin
Earthcoin
Zetacoin
GoldCoin
BBQCoin
Fastcoin
Memorycoin
Mincoin
Sexcoin
Junkcoin
... and on and on and on


All the ones scrubbed out are the ones who have actually lost 'mindshare' as they are no longer considered relevant. Most of them have faded to insignificance. Nxt is still slugging it out after a whole year.

I think you could do the same from 6 months ago and find the results are very similar.

There is a current surge to "corporate cryptos" (Ripple, Stellar, Bitshares, Paycoin) in an attempt to change bank balances rather than the world. I think the frequency of these will increase as more money is made. But it doesn't diminish the "change the world cryptos".

I think your timeframes are too short. Marketcap rankings can be relevant over long periods, let's see if PayCoin is still as important as the market suggests it is in 1 year from now..

Please remove "Litecoin". That is dead.

I'd delete "Peercoin" too.

I would add "Stellar" (a fork of Ripple, though I believe Stellar is way behind).

I feel Dodgecoin and NXT won't make it.

[inBitweTrust]

It appears that many of these non-"publicly" traded assets are just investment projects using Nxt. There are many companies with vested assets with the other coins above NxT....shouldn't we include those too?

We should, come back when you have numbers, for now your words are backed only by speculations.

Well this is a different Topic altogether because I was talking about Nxt and this thread was discussing the NxT currency, not separate assets and securities.

As long as everyone is clear that we have changed the topic than the NxT currency ecosystem market share analysis would be changed to this:

   Bitcoin  - ecosystem market cap - hard to estimate because so much but at least 4 billion
https://bitcointalk.org/index.php?board=78.0
https://cryptostocks.com/
http://mpex.co/
http://www.coindesk.com/venture-capital-funding-bitcoin-startups-triples-2014/
http://www.coindesk.com/bitcoin-venture-capital/

   Ripple - 482.5 m + min 8 mill VC - 490+ m

        PayCoin - 37.5 m +~10m to 100m GAW(who knows how much assets they have with the lies but they def are a decent sized company) = 47.5 m to 137.5 m

   Litecoin 47 m
   
   BitShares 25.9 m +0.9 m assets = 26.8 million

   Nxt - between 22.5 - 25? million ( those hidden assets have non verifiable investments , but most look small)
   
   Stellar -- 16.8+ some big names backing the project but undisclosed investments    
   
   Dogecoin - 13.5 m

So with this new question , the market-share of the complete NxT ecosystem has dropped from #4 to either tied for 5 (Bitshares) or 6.
   
   

[Eamorr]

Please remove "Litecoin". That is dead.

I'd delete "Peercoin" too.

I would add "Stellar" (a fork of Ripple, though I believe Stellar is way behind).

I feel Dodgecoin and NXT won't make it.

We aren't discussing your feeling but the facts. Come back when you have data.

Have a look at some of the marketcap indicators:

http://coinmarketcap.com/
https://www.coingecko.com/

I just cannot see how NXT won't drop down the table. NXT is treading water (at best) at the moment.

[inBitweTrust]

Please remove "Litecoin". That is dead.

I'd delete "Peercoin" too.

I would add "Stellar" (a fork of Ripple, though I believe Stellar is way behind).

I feel Dodgecoin and NXT won't make it.

We aren't discussing your feeling but the facts. Come back when you have data.

Have a look at some of the marketcap indicators:

http://coinmarketcap.com/
https://www.coingecko.com/

I just cannot see how NXT won't drop down the table. NXT is treading water (at best) at the moment.

It has weakened in marketshare but if you look at my data above it isn't doing as bad as an ecosystem as I thought.