what do you think of NXT

[ghg]

seemed to be an interesting POS crypto..

There seem to be hundreds of alt coins showing up now.

Wonder how many are scams?

Any opinions?

--ghg

[DeboraMeeks]

It looks like a nice currency but there are tons of those (PTS,QRK,and multiple others) and you can't predict the results (being profitable or not on long-term)

[olinnebit]

NXT is nothing like QRK and PTS. It's PoS currency with many other features. NXT is a good concept, but I don't like it that 70 shareholders hold almost all the NXT. It also doesn't matter if they pre-announced the early investment opportunity, the distribution of coins is horrible.

[iscy]

Some concepts and features in NXT are nice. The code isn't following proper standards but it isn't huge yet and could easily be refactored.

[furezasan]

Just learnt about it today... sounds interesting and atleast they are giving a proper shot and fixing BTC issues. Might be worth a look.

[AdamaBit]

I spent a good few days reading the original Announcement (80 odd pages, before it got updated to another thread which is now 800 odd pages!) which lead me to signing up here. Very interesting stuff. You really get to know the developer in a weird way.
The 70 odd shareholders were only allowed to put in up to 1 BTC each. Alot offered alot more but BCNext, the dev, didn't want their money really he was just intent on developing a new coin not using the original BTc source code. So he capped investment to 1BTc each shareholder.
I liked his concept and if I had known about it when he first posted a few months ago I could have been one of those shareholders and so could anyone else.
As far as I can see it's about keeping up with what's new and jumping on board if you like the concept. And the concept of Nxt is that you have to have alot of coins in circulation to begin with and you sort of earn interest on them in your wallet. Which I think is cool much like a bank system. Better than mining them I think, which is kind of elitism.
Anyway I've noticed alot of posts say stuff without doing much research!

[iscy]

[...]
Anyway I've noticed alot of posts say stuff without doing much research!

Yeah, you are right. There are even people claiming that it isn't decentralized... but yes, it is. I think the major issue for NXT right now is the lack of a "proper" client.

Who wants to access his wallet in a browser?! Sure.. running on localhost.. but still..

[snicksnack]

POS is a great concept however market will inevitably collapse upon the dump of NXT from shareholders (70+ of them).

[AdamaBit]

Yeah the client is a bit of a nightmare.
When they get one that works (mine doesn't even open on my Mac) I think it will appeal to alot more people.
But you gotta be patient in this game. It's just people working for free in their free time to set something up.
The guy who runs dgex.com gets so much stick. But it's just him and one other in their bedrooms probably!:)
I look at all these as long term investments. Like a year or two at least.
But everyone wants to be a millionaire tomorrow and doing nothing for it. It's like the Xfactor here!

[olinnebit]

I spent a good few days reading the original Announcement (80 odd pages, before it got updated to another thread which is now 800 odd pages!) which lead me to signing up here. Very interesting stuff. You really get to know the developer in a weird way.
The 70 odd shareholders were only allowed to put in up to 1 BTC each. Alot offered alot more but BCNext, the dev, didn't want their money really he was just intent on developing a new coin not using the original BTc source code. So he capped investment to 1BTc each shareholder.
I liked his concept and if I had known about it when he first posted a few months ago I could have been one of those shareholders and so could anyone else.
As far as I can see it's about keeping up with what's new and jumping on board if you like the concept. And the concept of Nxt is that you have to have alot of coins in circulation to begin with and you sort of earn interest on them in your wallet. Which I think is cool much like a bank system. Better than mining them I think, which is kind of elitism.
Anyway I've noticed alot of posts say stuff without doing much research!

Do you believe the market will accept 70 shareholders? He could easily waited and gotten 700 shareholders, Heck, he could wait and get 7000. I've done my reasearch The "anyone could sign up for it" argument falls too short.

[de3mka]

Do you believe the market will accept 70 shareholders? He could easily waited and gotten 700 shareholders, Heck, he could wait and get 7000. I've done my reasearch The "anyone could sign up for it" argument falls too short.

...and waited, and waited, and waited until someone issues the same concept coin before him. In these days every minute counts, look how many coins are appearing everyday. That's the paradox of a new technology: to make an ideal distribution you must invite a lot of stakeholders on the list. To invite a lot of stakeholders, so no one complains in the end (but there still be someone, believe me) you must have time... but technology never waits and you risk losing your innovative position.

[puck2]

I am drawn to NXT by the active community which seems genuinely interested in creating a robust new coin distinct from Bitcoin. I think a primary concern is the  implicit or explicit encouragement of single account numbers. I think a wrapper which goods the 'private keys' is crucial to allow multiple accounts in one client.

[reb0rn21]

What to say, its pure scam coin, bought by stupid ppl beliving in scam to scam others......

So anyone who bought had to plan to scam and talk pure crap/hype/fud to make other sheep buy more...

All deserve to be burned in no profit

[salsacz]

NXT is nothing like QRK and PTS. It's PoS currency with many other features. NXT is a good concept, but I don't like it that 70 shareholders hold almost all the NXT. It also doesn't matter if they pre-announced the early investment opportunity, the distribution of coins is horrible.

50 Bitcoin owners have 80 percent of all Bitcoins... So disaster

[achimsmile]

Yeah the client is a bit of a nightmare.
When they get one that works (mine doesn't even open on my Mac) I think it will appeal to alot more people.
But you gotta be patient in this game. It's just people working for free in their free time to set something up.
The guy who runs dgex.com gets so much stick. But it's just him and one other in their bedrooms probably!:)
I look at all these as long term investments. Like a year or two at least.
But everyone wants to be a millionaire tomorrow and doing nothing for it. It's like the Xfactor here!

I like that you did your research! I look at the 800+ page thread  every day to stay up to date. So much is happening there. It seems a little chaotic and unorganised, but hey, NXT is only learning to walk right now. A better and more streamlined client will be released in 4-5 weeks. For most alt-coin inverstors that's already too long, that's understandable as everything in crypto currencies is changing so fast! It's an evolving and new market, it's difficult to  distinguish the "good" (meaning suitable for long term investment) from the "bad" (meaning pump-n-dump or real scam) coins. Many see the buggy client and turn to another coin with a better looking client, this will eventually change.

It's not just about the client, but about the ideas behind NXT!

• POS is a great approach, much better than wasting soo much power on bitcoin mining and less prone to attacks. (yes yes, the problem is the distribution. But almost any currency has this problem that few hold a lot)
• Fast transactions, always good.
• The Alias system is like an advanced decentralized DNS server, with many appliations.
• Transparent Forging is very cool! Makes even a 51% attack impossible.
• Decentralized Asset exchange and coloured coins will be killer features!
• Voting system, they like democracy.
• Arbitrary messaging is nice to have

The list doesn't stop here
I am amazed how motivated, innovative, and intelligent (sometimes I only understand half of the tech talk in the main thread ) the community behind NXT is!

Maybe it will fail, maybe a better coin wil overtake it, but for now the chances seem to be in favor of NXT to me. That's why I bought some.

[AdamaBit]

Do you believe the market will accept 70 shareholders? He could easily waited and gotten 700 shareholders, Heck, he could wait and get 7000. I've done my reasearch The "anyone could sign up for it" argument falls too short.

...and waited, and waited, and waited until someone issues the same concept coin before him. In these days every minute counts, look how many coins are appearing everyday. That's the paradox of a new technology: to make an ideal distribution you must invite a lot of stakeholders on the list. To invite a lot of stakeholders, so no one complains in the end (but there still be someone, believe me) you must have time... but technology never waits and you risk losing your innovative position.

Yeah everyone bitches about not being in on the first level.
If you'd read all of BCNext's posts (which I did) you'd see that lots of people wanted to give him more coins, and not just one at the most, which he put the cap on. But he wasn't motivated by that he just wanted to get the coin out there, he could have taken alot more of people's money, hell if I hadn't have come late to the party I would have jumped on in there and taken a punt on him. But he actually only wanted 21 BTC's so that it mirrored satoshi's 21 million BTC's! He's kinda of kooky and probably a bit of a genius (used lightly). But I liked his enthusiasm and paranoid personality. (He got a call on Skype from someone saying that they were the police and then stopped posting).

And a lot of those initial shareholders are now running NXT sites. And have put a lot of work in to it all. So I kinda think they deserve it. Graviton who runs dgex.com and nextcoin.org probably hasn't had much sleep in the last month or so.

And yes I do believe the market will accept 70 shareholders because it's a good product. Everything only needs just a few shareholders to start it off. If the whole world was in it from the beginning who you gonna sell to?

[AdamaBit]

Yeah the client is a bit of a nightmare.
When they get one that works (mine doesn't even open on my Mac) I think it will appeal to alot more people.
But you gotta be patient in this game. It's just people working for free in their free time to set something up.
The guy who runs dgex.com gets so much stick. But it's just him and one other in their bedrooms probably!:)
I look at all these as long term investments. Like a year or two at least.
But everyone wants to be a millionaire tomorrow and doing nothing for it. It's like the Xfactor here!

I like that you did your research! I look at the 800+ page thread  every day to stay up to date. So much is happening there. It seems a little chaotic and unorganised, but hey, NXT is only learning to walk right now. A better and more streamlined client will be released in 4-5 weeks. For most alt-coin inverstors that's already too long, that's understandable as everything in crypto currencies is changing so fast! It's an evolving and new market, it's difficult to  distinguish the "good" (meaning suitable for long term investment) from the "bad" (meaning pump-n-dump or real scam) coins. Many see the buggy client and turn to another coin with a better looking client, this will eventually change.

It's not just about the client, but about the ideas behind NXT!

• POS is a great approach, much better than wasting soo much power on bitcoin mining and less prone to attacks. (yes yes, the problem is the distribution. But almost any currency has this problem that few hold a lot)
• Fast transaction, always good.
• The Alias system is like an advanced decentralized DNS server, with many appliations.
• Transparent Forging is very cool! Makes even a 51% attack impossible.
• Decentralized Asset exchange and coloured coins will be killer features!
• Voting system, they like democracy.
• Arbitrary messaging is nice to have

The list doesn't stop here
I am amazed how motivated and innovative, and intelligent (sometimes I only understand half of the tech talk in the main thread ) the community behind NXT is!

Maybe it will fail, maybe a better coin wil overtake it, but for now the chances seem to be in favor of NXT to me. That's why I boought some.

Exactly. The right attitude to all this.
I loved reading the original thread (80 pages. It took a few days of lying in bed with a cold reading my iPad!!!)... The 800 page one is probably too much now.
And yeah I love their (our's now seeing as we have both bought some coins) community spirit, very inspiring for me as a filmmaker. You get the same 'family' feeling on a set.
But like you say there's a lot of great stuff in there that the general public will warm to more than with Bitcoin.
eMunie is another one to look out for... Going for more of a long term currency that could really take on the world rather than all these alt coins that are looking for a quick buck.
It really is like the .com bubble... only a few will survive. But there's money to be made until that happens.

[achimsmile]

Exactly. The right attitude to all this.
I loved reading the original thread (80 pages. It took a few days of lying in bed with a cold reading my iPad!!!)... The 800 page one is probably too much now.
And yeah I love their (our's now seeing as we have both bought some coins) community spirit, very inspiring for me as a filmmaker. You get the same 'family' feeling on a set.
But like you say there's a lot of great stuff in there that the general public will warm to more than with Bitcoin.
eMunie is another one to look out for... Going for more of a long term currency that could really take on the world rather than all these alt coins that are looking for a quick buck.
It really is like the .com bubble... only a few will survive. But there's money to be made until that happens.

Word! eMunie looks promising as well.

[salsacz]

Yeah the client is a bit of a nightmare.
When they get one that works (mine doesn't even open on my Mac) I think it will appeal to alot more people.
But you gotta be patient in this game. It's just people working for free in their free time to set something up.
The guy who runs dgex.com gets so much stick. But it's just him and one other in their bedrooms probably!:)
I look at all these as long term investments. Like a year or two at least.
But everyone wants to be a millionaire tomorrow and doing nothing for it. It's like the Xfactor here!

I like that you did your research! I look at the 800+ page thread  every day to stay up to date. So much is happening there. It seems a little chaotic and unorganised, but hey, NXT is only learning to walk right now. A better and more streamlined client will be released in 4-5 weeks. For most alt-coin inverstors that's already too long, that's understandable as everything in crypto currencies is changing so fast! It's an evolving and new market, it's difficult to  distinguish the "good" (meaning suitable for long term investment) from the "bad" (meaning pump-n-dump or real scam) coins. Many see the buggy client and turn to another coin with a better looking client, this will eventually change.

It's not just about the client, but about the ideas behind NXT!

• POS is a great approach, much better than wasting soo much power on bitcoin mining and less prone to attacks. (yes yes, the problem is the distribution. But almost any currency has this problem that few hold a lot)
• Fast transaction, always good.
• The Alias system is like an advanced decentralized DNS server, with many appliations.
• Transparent Forging is very cool! Makes even a 51% attack impossible.
• Decentralized Asset exchange and coloured coins will be killer features!
• Voting system, they like democracy.
• Arbitrary messaging is nice to have

The list doesn't stop here
I am amazed how motivated and innovative, and intelligent (sometimes I only understand half of the tech talk in the main thread ) the community behind NXT is!

Maybe it will fail, maybe a better coin wil overtake it, but for now the chances seem to be in favor of NXT to me. That's why I boought some.

Exactly. The right attitude to all this.
I loved reading the original thread (80 pages. It took a few days of lying in bed with a cold reading my iPad!!!)... The 800 page one is probably too much now.
And yeah I love their (our's now seeing as we have both bought some coins) community spirit, very inspiring for me as a filmmaker. You get the same 'family' feeling on a set.
But like you say there's a lot of great stuff in there that the general public will warm to more than with Bitcoin.
eMunie is another one to look out for... Going for more of a long term currency that could really take on the world rather than all these alt coins that are looking for a quick buck.
It really is like the .com bubble... only a few will survive. But there's money to be made until that happens.

hi,
is there any chance you could help with the Nxt documentary video?

[NWO]

It is a trap that a lot of people are trying to get out of.

https://bitcointalk.org/index.php?topic=401028.0