[[ANN]] Action required to save NXT

[stamen123]

EDIT: I am correcting the initial post with the information which was given in the discussion.

First of all, let me state that I am one of the biggest Nxt fans: I not only bought close to 130,000 Nxt but I am also a gateway for Nxt in Bulgaria through http://hash.bg - a site created to promote the crypto revolution in the country.

As you can see from our forum - there is a special room for Nxt discussions alongside Bitcoin. The very active Nxt contributor in Bitcointalk 'Bai Mangal' is also part of the team, an active member of hash.bg, and a big investor of own money in the project. Thus, writing this posting, we risk losing all value of our Nxt holdings, if panic bursts out.

We do it nevertheless because we want to warn new comers about the risks and, most of all, in the hope to save this good software and to engage the whole Nxt community in our attempt to set things straight. We believe it is time for Nxt to get 100% transparent and to be put on a sound foundation from where to grow.

Here is the Nxt story in short:

The first posting of "Nxt's founder", known as BCNext, is on September 28, 2013 at 07:29:09 AM (UTC+2) where he announces the Nxt idea.

Only SIX minutes later, he posts the following.
This conjecture for 6 minutes later is wrong. He has reserved the second posting and last updated it days later

Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I will reinstall OS on my computer and will disapear for a couple of days until I find other ways to surf anonymously but without Tor.

PS: This message was posted by a member of my team.

So, he had a talk with the police on a brand new Skype account, used via TOR, nine minutes before even posting the Nxt idea!!! The police in the US must have had psychic abilities to anticipate a revolutionary posting on bitcointalk by an anonymous author who threatens to destroy the world banking system. The police thinks that the best approach in this case is to contact him right away and ask him to call the police in the US.

This only shows that the founder of Nxt is inclined to resort to childish lies in order to get his point - staying anonymous in this case.

Then there comes the story from yesterday.  As the Nxt price was crashing by nearly 30% the "public face" behind Nxt, known as Coming-From-Beyond, posted:

Woulda Coulda Shoulda. Then sell me some NxT as a token of gratitude for pumping the price up.

Sorry, in 3 weeks the price will touch 1'000 BTC for 1'000'000 NXT mark. I don't sell at current price.

Might you explain why?

We r going to test Asset Exchange for guys from Wall Street. Of coz, after we launch the exchange the price will go even higher.

(This is a personal opinion, not an advice to invest)

This of course is as ridiculous as the "FBI story" above. I do not think I need to explain why; if you do not see it, just ask someone who knows Wall Street... From these two incidents, we know that both BCNext and Coming-From-Beyond have the same tendency to write bullshit without realising how stupid it is.

Now let's take a look at the big picture:

Some guy, BCNext, announces a revolutionary new coin, not a bitcoin-clone, with dream capabilities like a truly-peer-to-peer built-in Exchange among others. He does not care to reveal the principle behind this P2P exchange, explaining he does not want copycats, which is understandable.

The system uses pre-mined units in the amount of 1 billion, which is similar to Ripple but with the big difference that the people behind ripple are public figures and the ones behind Nxt not.

Now, Nxt-idea sounds good and exciting and the community starts to grow. There are even 71 stakeholders who send 21btc in total and get Nxt in return. The software team grows - with steady and generous payments in Nxt by the stakeholders to everyone who helps spread the word and thus finds fresh funds!

End of November, 2014 a new member of the team - Coming-from-beyond is hired to help everyone interested in Nxt. Around the same time BCNext stops writing in the forum.

EDIT: It turns out that CfB has taken over the development to some extent and thus rewritten the initial version to use jetty. Logical, if he has experience with this technology. It does not somehow fit in the whole picture though..

But look at the profile of Coming-From-Beyond: there is a link to his site http://qubic.boards.net/ where the first posting is by the administrator known as... Coming from beyond, posted a full year before Nxt:

http://qubic.boards.net/thread/1/qubic
https://i.imgur.com/dTkn244.png

Read the Qubic idea and see some interesting things:
https://i.imgur.com/BCgQQHt.png
source: http://qubic.boards.net/thread/2/cfbs-implementation-progress


It is written in Java utilising jetty... sounds a creepy coincidence that Nxt is built on jetty too.

Who does not yet believe that basically BCNext and CfB are the same person!

Which would be OK, if it was not for the whole circus about BCNext hiring CfB.

So, in essence the Belarussian BCNext/CfB has a good business model: Print 1 billion Nxt coins, excite people to start developing for Nxt, promise the community some revolutionary break-troughs to be revealed and start selling as many of his Nxt as possible.

I do not know who else is in the scheme - I believe that most of the developers and people, who have created Nxt-oriented sites and forums - are people like me and Bai Mangal who believe in the idea and are not involved with the scheme.

I strongly doubt that CfB/BCNext has a solution for a truly-peer-to-peer in Nxt. Seeing his childish behaviour (it is not meant as an insult, it really is just that) and his level of thought in 2012 (from cubic forum), I do not believe he has been able to solve a riddle, whose solution has been ellusive to many greater minds than him.

Thus, I do not beleive that anything revolutionary will soon come from Nxt - CfB/BCNext just tries to keep the fire burning as long as he can and sell as many of his Nxt holdings as he can, before disappearing.

But I hope it is not game over yet!

First, we have to see CfB's explanation to the above points - but please man, be honest, you are really terrible at making up stories! Everyone will confirm it to you.

Next, I call on all developers and contributors to Nxt to unite and secure the available source code. How much of it is in possession of Cfb/BCNext? How is the development organised? There is no need to be anonymous if you are not in the "scheme". Coming out will boost Nxt from a little project to a phenomenon, can you not realise it?


Let us see what we have now and start from there. Nxt is a fine software even now, with great functions, and I think we can all advance it a lot together, after we have open the source code and thus stop being dependent on CfB's "genious P2P" announcements and know-how.

And finally, I decided to not sell my Nxt coins. Even if the price now falls but we are able to secure the source code, I would be willing to buy because I believe the exciting Nxt infrastructure and community are good enough to bring the Nxt idea to success.

If it crashes, let it be - I paid a good price for a good lesson. The centralised banking system has crippled our insticts when it comes to money and the crypto revolution will only succeed if we all regain these skills back.


Cheers to all

[1715356621]

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[1715356621]

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[1715356621]

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[Coinonaer]

Even if CFB is BCNext, I have no problem with that. I think he does what he can to bring Nxt to the next level. Why throwing dirt here? Don’t understand this.

[pinarello]

good luck with your fork, but without CfB think you are screwed.

Never met a more honest and humble developer in the whole crypto community like CfB.

Just because you don’t like the price now, others are glad they can buy in.

BTW: Hope he don’t give an explanation et all coz who the fuck are you?

Pin

[x0rcist]

funny to see what is happening with NXT atm, thanks for the proper research you did.

i guess people should decide themselves if they still believe in NXT or see it as the NXT Quark

[stamen123]

Even if CFB is BCNext, I have no problem with that. I think he does what he can to bring Nxt to the next level. Why throwing dirt here? Don’t understand this.

Because there is no P2P Exchange and when April comes he will simply decide to disappear (may be with a million in cash) instead of admitting that he has lied all the time. This will blow the whole system up.

If we now gather and compel him to collaborate, Nxt does have a chance as it is a fine system

good luck with your fork, but without CfB think you are screwed.
Never met a more honest and humble developer in the whole crypto community like CfB.
Just because you don’t like the price now, others are glad they can buy in.
Pin

no ideas of fork, mate. Have you met CfB in person? I do not deny that he is very dilligent and all. But let's see what he has to say first

[bitcoinpaul]

[cremstopper]

I would be surprised if this is true. The NXT team is very active and helpful. Seems like a lot of time and energy to fake a project.

[stamen123]

I would be surprised if this is true. The NXT team is very active and helpful. Seems like a lot of time and energy to fake a project.

this team is working a lot because they have been paid good Nxt! And this is our chance - to dispell the misteries about the project, what is real and what not, and take it from there.

I am sure CfB never imagined such a success and he is now also searching for ways to come out of the mess. But before he writes some other bs like yesterday, I would like to give him the opportunity to say "I am sorry, but let's do this now!"

[pastet89]

Are you BLIND?

Look at this path:

Code:

/webapps/root/WEB-INF/web.xml

Doesn't it sounds familiar? Please, check your NXT client folders, it matches on 100%! And this is written for the Qubic project a year before NXT launch!

I would also like to her CfB comment on this!

[nxtru]

Even if CFB is BCNext, I have no problem with that. I think he does what he can to bring Nxt to the next level. Why throwing dirt here? Don’t understand this.

Because there is no P2P Exchange and when April comes he will simply decide to disappear (may be with a million in cash) instead of admitting that he has lied all the time. This will blow the whole system up.

Where do you see the lie from CfB?

[stamen123]

Where do you see the lie from CfB?

that he has an idea to implement a true P2P exchange as a first.
And Wall street project as a second.

[Fatih87SK]

I am CFB and BCnext. This is my new account 

[HCLivess]

NXT builds on the immense popularity of bitcoin but is completely different from bitcoin. It is a spectre in a BTC coat waiting to eat those who step too far.
There is no incentive for purchasing a 100% premined coin other than hype.

[sumantso]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

[Chang Hum]

Cool story bro!

Did you write this part of your argument joking or are you really this dumb? (hint I'll ask you this same question about 13 minutes in the future lol)

(Quote)

The first posting of "Nxt's founder", known as BCNext, is on September 28, 2013 at 07:29:09 AM (UTC+2) where he announces the Nxt idea.

Only SIX minutes later, he posts the following:

[luckygenough56]

panic sell soon

[lucky88888]

How about panic BUY! 

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

True story.

[LiQio]

Are you BLIND?

Look at this path:

Code:

/webapps/root/WEB-INF/web.xml

Doesn't it sounds familiar? Please, check your NXT client folders, it matches on 100%! And this is written for the Qubic project a year before NXT launch!

I would also like to her CfB comment on this!

did you know that the first versions where run differently: see here https://bitcointalk.org/index.php?topic=320718.msg3433643#msg3433643

did you know that Come-from-Beyond rewrote parts afterwards and used jetty (maybe because he's familiar with it, maybe he even copied web.xml)

...

maybe if I'm in the mood, I will continue to dismantle some of your arguments

[pinarello]

[Chang Hum]

Did you write this part of your argument joking or are you really this dumb? (hint I've already asked you this same question about 13 minutes ago lol)

(Quote)

The first posting of "Nxt's founder", known as BCNext, is on September 28, 2013 at 07:29:09 AM (UTC+2) where he announces the Nxt idea.

Only SIX minutes later, he posts the following:

(Quote)

I must say it's pretty spooky a java coder got involved with a java project though   <sarcastic mocking smiley

[LiQio]

Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I will reinstall OS on my computer and will disapear for a couple of days until I find other ways to surf anonymously but without Tor.

PS: This message was posted by a member of my team.

Are you sure that this was posted minutes later, or did BCNext reserve the second space in the thread for later announcements? and in the end filled it days later? did you check it? ...

[stamen123]

did you know that the first versions where run differently: see here https://bitcointalk.org/index.php?topic=320718.msg3433643#msg3433643

did you know that Come-from-Beyond rewrote parts afterwards and used jetty (maybe because he's familiar with it, maybe he even copied web.xml)

...

maybe if I'm in the mood, I will continue to dismantle some of your arguments

see, this is a good news and a good explanation.
I am not a hater, I just want to get things straight.

I wonder where CfB suddenly "disappear" - we were used to have him non stop online here.

[nakaone]

The first posting of "Nxt's founder", known as BCNext, is on September 28, 2013 at 07:29:09 AM (UTC+2) where he announces the Nxt idea.

Only SIX minutes later, he posts the following:

Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I also read this strange announcement thread - pretty sure he wrote that much later (don't know exactly but at least two weeks maybe much more) and put it in a reserved spot....

there are some strange things but I am almost 100% sure cfb is not bcnext.

[mcjavar]

Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I will reinstall OS on my computer and will disapear for a couple of days until I find other ways to surf anonymously but without Tor.

PS: This message was posted by a member of my team.

Are you sure that this was posted minutes later, or did BCNext reserve the second space in the thread for later announcements? and in the end filled it days later? did you check it? ...

Last edit: 8th of November

[stamen123]

OK, the 15 minutes mistery as well as the jetty server got kind of solved.

[Brilliantrocket]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

[LiQio]

OK, the 15 minutes mistery as well as the jetty server got kind of solved.

can we stop this now?
if you have questions why don't you ask and search for answers, instead of posting accusations?

and if you want to build a case, then make sure that evidence is waterproof.

[pinarello]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

or something.

[stamen123]

OK, the 15 minutes mistery as well as the jetty server got kind of solved.

can we stop this now?
if you have questions why don't you ask and search for answers, instead of posting accusations?

and if you want to build a case, then make sure that evidence is waterproof.

that's what the forums are for, bro: for people to correct each other's incompetency. I would be the happiest if I get proved wrong, believe me!

[Brilliantrocket]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

or something.

Nxt is the future ? Why because you've invested in it? Nxt is a scamcoin, pure and simple. Only 2 of the features mentioned in the announcement are completed. Pump and dump, baby.

[LiQio]

OK, the 15 minutes mistery as well as the jetty server got kind of solved.

can we stop this now?
if you have questions why don't you ask and search for answers, instead of posting accusations?

and if you want to build a case, then make sure that evidence is waterproof.

that's what the forums are for, bro: for people to correct each other's incompetency. I would be the happiest if I get proved wrong, believe me!

okay right, so know you can correct your own incompetency and edit the first post, right 
simply bring it up to speed, bro

[pinarello]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

or something.

Nxt is the future ? Why because you've invested in it? Nxt is a scamcoin, pure and simple. Only 2 of the features mentioned in the announcement are completed. Pump and dump, baby.

or something.

[xibeijan]

good luck with your fork, but without CfB think you are screwed.

Never met a more honest and humble developer in the whole crypto community like CfB.

Just because you don’t like the price now, others are glad they can buy in.

BTW: Hope he don’t give an explanation et all coz who the fuck are you?

Pin

Copy the code all you want.  There are really clever people behind NXT and you cannot copy them.

[nesco1805]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

fairness to whom? to outsiders NXT owes nothing
to holders... they knew fully well it's distribution model

NTX problem is a simple one. It's wai overpriced

[stamen123]

okay right, so know you can correct your own incompetency and edit the first post, right 
simply bring it up to speed, bro

just did, if only CfB would correct my other incompetent conjectures, I will mark it all green and spend 10,000 Nxt to any cause you might point me to

[xibeijan]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

fairness to whom? to outsiders NXT owes nothing
to holders... they knew fully well it's distribution model

NTX problem is a simple one. It's wai overpriced

FUD thread.  Works for me... I'll be scooping up some cheap NXT now.

[nesco1805]

FUD thread.  Works for me... I'll be scooping up some cheap NXT now.

don't worry; plenty more from where that came from 

[Brilliantrocket]

The only people who will make money off NXT are the original stake holders ( scam peddlers) along with the founder(s) (scam creator). I really must commend them on creating a such an efficacious way to transfer money out of the pockets of fools and into their own. If there were a scam hall of fame, I'm sure that NXT could fit into it quite neatly. Wonderful formula. Create coin with vaporware claims of incredible features. Watch money pour in. Disappear.

[stamen123]

Nxt deserves to fail due to its extremely unfair distribution model. I would cheer on its collapse and fall into obscurity.

fairness to whom? to outsiders NXT owes nothing
to holders... they knew fully well it's distribution model

NTX problem is a simple one. It's wai overpriced

FUD thread.  Works for me... I'll be scooping up some cheap NXT now.

if you ask me this thread can only have two positive effects:
1) CfB will give a plausible explanation, some members of the core team will come out in the light, more details will be given how Nxt is being developed and who owns what. The price will sky-rocket, so do not hesitate to buy now!

2) Core team members will ask themselves some questions, request an explanation by BCNext and if they do not get satisfactory answers, they might decide to quit (thus barring larger damage to many more people than now); or they may decide to take control of what is available, and with the help of the whole community here get Nxt out of the shit.

You tell me which scenario of the above is negative for all of us...

[luckygenough56]

dgex freefall

[ImmortAlex]

Look at this path:

Code:

/webapps/root/WEB-INF/web.xml

Wait... Oh, shi...!
SEEEELLLL!!!!11111

[stamen123]

dgex freefall

I could have sold before I posted but I did not even though I had my funds with dgex. The owner can confirm my transactions if you want.

The reason: I can afford to lose 130K Nxt. But I think this discussion will only bring necessary light into the project and the price will recover nicely.

And here my main concern from yesterday: Why did CfB get so nervous by the price decline yesterday that he blurted out this bs about Wall Street? If he was all honest and the Nxt was a sound project, why would he get agitated by this?

[starik69]

Topicstarter, like Sheldon, needs someone with "sarcasm" tablet for him (this is about wall street if he still didn't understand )

And if topicstarter claims some deanonymization,  he can begin from himself

[bitme]

Is being optimistic about project You're involved into shady? That Wall Street post is just expression of such optimism to me. Cfb sometimes really is a little bit too assumptive with his price/success predictions but I got used to it

[Come-from-Beyond]

I am CFB and BCnext. This is my new account 

[Come-from-Beyond]

Man, u made my day week!

Post ur Nxt account, I'll send u 1K.

[superresistant]

[opticalcarrier]

BCNext admitted that the account BCNext was another account of an earlier poster and he wished to remain anonymous.  Im pretty sure I know which earlier poster he actually is, and its not Come-from-Beyond.

But Im keeping quiet.

[Come-from-Beyond]

BCNext admitted that the account BCNext was another account of an earlier poster and he wished to remain anonymous.  Im pretty sure I know which earlier poster he actually is, and its not Come-from-Beyond.

But Im keeping quiet.

We all know who u r talking about   

[Fernandez]

Man, u made my day week!

Post ur Nxt account, I'll send u 1K.

If he doesn't claim please send me some. I got in very late and now have 54 NXTs

15125251810930484336

[opticalcarrier]

BCNext admitted that the account BCNext was another account of an earlier poster and he wished to remain anonymous.  Im pretty sure I know which earlier poster he actually is, and its not Come-from-Beyond.

But Im keeping quiet.

We all know who u r talking about  

nope not him either.  i determined who it was by linking the content of some forums posts together

[Forobitcoins]

I am CFB and BCnext. This is my new account 

No, I'm CFB 

[Damelon]

I'M CFB!

[sherpico77]

Are you BLIND?

Look at this path:

Code:

/webapps/root/WEB-INF/web.xml

Doesn't it sounds familiar? Please, check your NXT client folders, it matches on 100%! And this is written for the Qubic project a year before NXT launch!

I would also like to her CfB comment on this!

that's very common in java. 

[Come-from-Beyond]

that's very common in java. 

Hey! U ruined all the fun!

[sherpico77]

that's very common in java. 

Hey! U ruined all the fun!

ups! sorry 

....


Sell! sell!!!! 

[Brilliantrocket]

Down about 40% in a week. Hahahaha.

[Come-from-Beyond]

Down about 40% in a week. Hahahaha.

To da ground! Hahahaha.

[stamen123]

Man, u made my day week!

Post ur Nxt account, I'll send u 1K.

You don't seem to understand that if you do not clear the issues I raised you can never hope of big success of Nxt.

Let me explain:
Someone above asks me about myself: My name is Stamen Gorchev, owner of www.igrach.com - the online portal which introduced online poker in Bulgaria back in 2006, has over 20,000 registered players and was voted three years in a row among the top 50 most influential affiliate sites in the world - a big achievement for a purely Bulgarian site, as you might agree.

Now I want to do to crypto currencies the same what I did to poker in Bulgaria, only that now I have much more experience, media contacts, and money.

Bai Mangal has been keeping me informed about the progress you were making and I felt confident when I opened a special forum room for Nxt in http://hash.bg

Two days ago I announced that I will buy 24.000 Nxt with 1BTC and then will sell at the same price any forum member who might wish to invest. The 24K Nxt were sold out in one hour - cause people prefer buying 10,000 of something instead of 0.5 units of something else (but similar).... simple human psychic well investigated by Kahneman and Tversky....

After you slip-up yesterday, I remembered the FBI call story and did my research. Then I posted in our forum my findings and sent BTC instead of Nxt for the money I had received.

Unless this anonymity and vagueness behind Nxt gets cleared, I will never remove the warning about Nxt on the site and no serious portal will ever do. Think about it!

About the secretly kept P2P principle - the main driving force behind Nxt. Hope sells...true.. but consider this. Let's say you have the P2P discovery and introduce it to Nxt in April. If it is so ingenious, Bitcoin will copy it right away - because the big money of Wall Street is behind bitcoin and will never be behind Nxt as long as you keep managing it this way.

As for your donation proposal of 1000Nxt. If this posting of mine succeeds in waking up the community and somehow helps you realise what the right course of action is, I think you will be much more generous to me.

All best to all

[Come-from-Beyond]

You don't seem to understand that if you do not clear the issues I raised you can never hope of big success of Nxt.

Just look at my signature, think for a while and tell me at least one reason why I should clear the issue.

[Damelon]

I was thinking this, too.

Why the hell would CfB openly have that in his sig if it's such a BIG shady deal?

It's been there all the time.

As for demanding proof of identity: you are turning around the burden of proof.

You want in and demand proof of identity.

That's the same as wanting to enter a nightclub and demand the owner/landlord identify himself before you agree to enter. See how crazy that sounds?

Your point is valid where you yourself are concerned, but the conclusions you reach from that are fraught with assumptions.

They might be true, they might not.

However, the fact that things are unclear does not equal shady dealings.

These are *your* assumptions and judgements. These *your* fears. I must say I am a bit underwhelmed by the weight pf evidence you attribute to the research you have done.

[garcias]

Man, u made my day week!

Post ur Nxt account, I'll send u 1K.

You don't seem to understand that if you do not clear the issues I raised you can never hope of big success of Nxt.

Let me explain:
Someone above asks me about myself: My name is Stamen Gorchev, owner of www.igrach.com - the online portal which introduced online poker in Bulgaria back in 2006, has over 20,000 registered players and was voted three years in a row among the top 50 most influential affiliate sites in the world - a big achievement for a purely Bulgarian site, as you might agree.

Now I want to do to crypto currencies the same what I did to poker in Bulgaria, only that now I have much more experience, media contacts, and money.

Bai Mangal has been keeping me informed about the progress you were making and I felt confident when I opened a special forum room for Nxt in http://hash.bg

Two days ago I announced that I will buy 24.000 Nxt with 1BTC and then will sell at the same price any forum member who might wish to invest. The 24K Nxt were sold out in one hour - cause people prefer buying 10,000 of something instead of 0.5 units of something else (but similar).... simple human psychic well investigated by Kahneman and Tversky....

After you slip-up yesterday, I remembered the FBI call story and did my research. Then I posted in our forum my findings and sent BTC instead of Nxt for the money I had received.

Unless this anonymity and vagueness behind Nxt gets cleared, I will never remove the warning about Nxt on the site and no serious portal will ever do. Think about it!

About the secretly kept P2P principle - the main driving force behind Nxt. Hope sells...true.. but consider this. Let's say you have the P2P discovery and introduce it to Nxt in April. If it is so ingenious, Bitcoin will copy it right away - because the big money of Wall Street is behind bitcoin and will never be behind Nxt as long as you keep managing it this way.

As for your donation proposal of 1000Nxt. If this posting of mine succeeds in waking up the community and somehow helps you realise what the right course of action is, I think you will be much more generous to me.

All best to all

stamen123 you did a good research but they will keep making fun of you in order to keep their lies...
more NXT fanboys will come over and over again...
just keep calm...

[Damelon]

You need to learn the difference between "fanboy" and "someone who just doesn't agree".

[garcias]

You need to learn the difference between "fanboy" and "someone who just doesn't agree".

yes yes
the list of fanboys of some coins here on bitcointalk is too damn high

[relm9]

I read through this and have to say I am disappointed. Was expecting some real evidence, but all your points are merely based on a hunch.

eMunie uses Java... is CfB behind that too? 

[Damelon]

yes yes
the list of fanboys of some coins here on bitcointalk is too damn high

This surprises you in a subforum called "Alternate cryptocurrencies"?  

[SyRenity]

Great post.

That said and after reading all this, why do you think that NXT should be forcefully saved at all?

In the next 1-2 months, at least 2 more 2nd gen platforms (etherum, emunie, bts?) will be launched, having much better funding by community or investors, developed by crypto experts (as they claim), and with a much better and predictable early distribution model. These platforms should provide all the features, that NXT claims to be working on, out of box.

If the market sees that he has a better opportunity going with these platforms, rather then playing to NXT founders game (if there is one), NXT will be eventually pushed away by market forces naturally.


The only thing that I can think for the moment being beneficial for the community, is pointing it at these alternatives, as a potentially better and more solid investment options, rather then investing in NXT.

[billotronic]

ahhh growing pains....

At least he didn't write scam in big red letters.

[Come-from-Beyond]

ahhh growing pains....

At least he didn't write scam in big red letters.

His very first words

First of all, let me state that I am one of the biggest Nxt fans...

clearly indicated that he was going to troll...

[apenzl]

[S3MKi]

[td services]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

No, I'm a very different person, though CFB and I actually would agree on a lot of things like PoS vs PoW mining - too bad the NXT presale issue has come between us.

I'm not sure how to verify I'm a different person than CFB on the forum, but I'm open to suggestions if there is interest.

[Come-from-Beyond]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

No, I'm a very different person, though CFB and I actually would agree on a lot of things like PoS vs PoW mining - too bad the NXT presale issue has come between us.

I'm not sure how to verify I'm a different person than CFB on the forum, but I'm open to suggestions if there is interest.

Hell, I was going to use another account, but I'm too drunk. Gimme 10 mins to pick another account...

[instacalm]

Hilarious!

[td services]

 

[Damelon]

but I'm too drunk.

Here's hoping for a hilariously drunk update to Nxt tomorrow. 

[sumantso]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

No, I'm a very different person, though CFB and I actually would agree on a lot of things like PoS vs PoW mining - too bad the NXT presale issue has come between us.

I'm not sure how to verify I'm a different person than CFB on the forum, but I'm open to suggestions if there is interest.

By they I meant CFB and BCnext - not you and CFB.

[MsCollec]

conspiracy theory

[Come-from-Beyond]

By they I meant CFB and BCnext - not you and CFB.

As I already stated a few times, BCNext is a different person. I hold him locked in my mom's basement.

[sumantso]

By they I meant CFB and BCnext - not you and CFB.

As I already stated a few times, BCNext is a different person. I hold him locked in my mom's basement.

I initially replied to someone who asked if it matters if you two are the same person, to which I said it does coz that may indicate you are a manipulator.

Anyways, I have no idea about all these business, not having followed initially and not having the heart to invest when it was over 100x. I would like to say good luck (not that you need it - I guess you are sitting on millions), but I am mostly hoping for a crash and burn sceneraio (I know, I know, thats being petty - but I am no Gandhi).

[Sebastien256]

By they I meant CFB and BCnext - not you and CFB.

As I already stated a few times, BCNext is a different person. I hold him locked in my mom's basement.

that make me laught!!! lol

[Chang Hum]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

No, I'm a very different person, though CFB and I actually would agree on a lot of things like PoS vs PoW mining - too bad the NXT presale issue has come between us.

I'm not sure how to verify I'm a different person than CFB on the forum, but I'm open to suggestions if there is interest.

By they I meant CFB and BCnext - not you and CFB.

td services is BCNext aka comefrombeyond aka haventustartedtoputthepiecesofthispuzzletogetheryet

[td services]

There seems to be an issue where BCnext abruptly stopped the IPO and released them to the market at a much higher price. CFB claims he is as much in dark about it (CFB and some investor td... has been fighting all over the forums about this). If it turns out that they indeed are they same person then that potentially makes him very dodgy to say the least.

No, I'm a very different person, though CFB and I actually would agree on a lot of things like PoS vs PoW mining - too bad the NXT presale issue has come between us.

I'm not sure how to verify I'm a different person than CFB on the forum, but I'm open to suggestions if there is interest.

By they I meant CFB and BCnext - not you and CFB.

Thanks for clarification. CFB is a lot better at channeling BCnext's communications but I think I'm a lot more accurate in channeling his motives.

[Come-from-Beyond]

bump

[cebb]

Nxt is a centralised & 100% pre-mined scam. It deserve to die. I am surprised it lasted this long. RIP Nxt.

[Come-from-Beyond]

I believe that the Moderators of bitcointalk will introduce a Comedy section to the forum after reading this thread!!!  

No need. I will bump this thread each time I want to have a laugh.

[tstang]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

[salsacz]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

do you use Google? Facebook? Bitcoin? Why do you use them, when people who invested in it early became rich?

[nesco1805]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

do you use Google? Facebook? Bitcoin? Why do you use them, when people who invested in it early became rich?

There's a fundamental difference.
I can use Gmail perfectly fine without Google shareholders having to return their investment many thousands times over.

Its not about NXT rewarding early stakeholders. It's about rewarding very FEW and having a low userbase.
Its about major NXT cats constantly having to dump and undercut each other in order to grow that base.

[SyRenity]

There's a fundamental difference.
I can use Gmail perfectly fine without Google shareholders having to return their investment many thousands times over.

Its not about NXT rewarding early stakeholders. It's about rewarding very FEW and having a low userbase.
Its about major NXT cats constantly having to dump and undercut each other in order to grow that base.

The last line was golden , through apparently there are a few genesis investors who preferred to dilute themselves early and relatively cheaply in order to spread NXT, rather then hoarding all for a big payout later. Not all lost for the humanity!

[tstang]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

do you use Google? Facebook? Bitcoin? Why do you use them, when people who invested in it early became rich?

Yes, the ONLY different is that Goggle, Facebook or any other large companies are making millions before the list their company on IPO. Hence the valuation for the initial founder that created the value.

Do you think 1 Bllion NXT divided by 73 people is fair to the rest of the people? What value did they create?

[salsacz]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

do you use Google? Facebook? Bitcoin? Why do you use them, when people who invested in it early became rich?

There's a fundamental difference.
I can use Gmail perfectly fine without Google shareholders having to return their investment many thousands times over.

Its not about NXT rewarding early stakeholders. It's about rewarding very FEW and having a low userbase.
Its about major NXT cats constantly having to dump and undercut each other in order to grow that base.

very few? There are 15.000 users now. Do you know, why Nxt hasn't got all functions? Because we want to gain more users before these functions will be implemented. If we had all functions month ago, Nxt would cost 10$ today. 15.000 is quite a lot

[tstang]

There's a fundamental difference.
I can use Gmail perfectly fine without Google shareholders having to return their investment many thousands times over.

Its not about NXT rewarding early stakeholders. It's about rewarding very FEW and having a low userbase.
Its about major NXT cats constantly having to dump and undercut each other in order to grow that base.

The last line was golden , through apparently there are a few genesis investors who preferred to dilute themselves early and relatively cheaply in order to spread NXT, rather then hoarding all for a big payout later. Not all lost for the humanity!

I am not sure the " few genesis investors to dilute themselves early and relatively cheaply" was in the intention of spreading NXT or to "cash-out" early, but thumps up for them!

[tstang]

Great story and insight.

Personally, Proof of Stake (POS) concept is interesting and different from Proof of Work (POW) like Bitcoin.

Personally, I think they should invent a coin with initial POW and POS after maybe after a threshold of 50% of more.

This would be fair to everyone as those who work hard initially like miners, get rewarded by POW, and eventually when there is very hard to mine, then the stakeholders will be rewarded for keeping them (POS).

Unfortunately, NXT choose to reward the early stakeholders and leave very little to the rest.

This is not a Fair and does not support the idea of decentralized crypto currency in the first place.

They setup their own exchange and inflate some value with no liquidity in the system, which does not reflect the true value of free market.


In the first place, this coin is doomed to fail as greed is the ultimate target.

do you use Google? Facebook? Bitcoin? Why do you use them, when people who invested in it early became rich?

There's a fundamental difference.
I can use Gmail perfectly fine without Google shareholders having to return their investment many thousands times over.

Its not about NXT rewarding early stakeholders. It's about rewarding very FEW and having a low userbase.
Its about major NXT cats constantly having to dump and undercut each other in order to grow that base.

very few? There are 15.000 users now. Do you know, why Nxt hasn't got all functions? Because we want to gain more users before these functions will be implemented. If we had all functions month ago, Nxt would cost 10$ today. 15.000 is quite a lot

salsacz,

we are not saying there is not enough user or the coin is shitty, just that maybe the "distribution" can be improved or divided to few stages to be fair to MOST or ALL people and not the selected 73 people .

This is like book building of IPO by Goldmac Sachs and ONLY the "Uber 3%" get the IPO.

[nesco1805]

very few? There are 15.000 users now. Do you know, why Nxt hasn't got all functions? Because we want to gain more users before these functions will be implemented. If we had all functions month ago, Nxt would cost 10$ today. 15.000 is quite a lot

A lot... OK and now what?
I suppose grow?
But in order to grow (and to make moneys, lets not forget about that) you are competing with each other and crapping all over your freshly acquired user base.

Didn't you guys get some internal memo, like Phase 1, 2,...

[SyRenity]

we are not saying there is not enough user or the coin is shitty, just that maybe the "distribution" can be improved or divided to few stages to be fair to MOST or ALL people and not the selected 73 people .

This is like book building of IPO by Goldmac Sachs and ONLY the "Uber 3%" get the IPO.

While all this right, I can only repeat what I said earlier - there are other 2nd gen crypto's are coming with exactly same features that NXT claims to have now or soon, and who should provide a fair and large distribution. So while they won't make same insane returns as NXT did, they still will provide ample profit opportunities (while probably correcting NXT price to whatever it is).

For better or worst, software is not hardware and there will be no ASIC monopoly here .

[tstang]

we are not saying there is not enough user or the coin is shitty, just that maybe the "distribution" can be improved or divided to few stages to be fair to MOST or ALL people and not the selected 73 people .

This is like book building of IPO by Goldmac Sachs and ONLY the "Uber 3%" get the IPO.

While all this right, I can only repeat what I said earlier - there are other 2nd gen crypto's are coming with exactly same features that NXT claims to have now or soon, and who should provide a fair and large distribution. So while they won't make same insane returns as NXT did, they still will provide ample profit opportunities (while probably correcting NXT price to whatever it is).

For better or worst, software is not hardware and there will be no ASIC monopoly here .

This is Evolution of crypto coins and welcome it with open arms!

[salsacz]

very few? There are 15.000 users now. Do you know, why Nxt hasn't got all functions? Because we want to gain more users before these functions will be implemented. If we had all functions month ago, Nxt would cost 10$ today. 15.000 is quite a lot

A lot... OK and now what?
I suppose grow?
But in order to grow (and to make moneys, lets not forget about that) you are competing with each other and crapping all over your freshly acquired user base.

Didn't you guys get some internal memo, like Phase 1, 2,...

please explain more

[SyRenity]

He probably means a secret master plan from your great leader BCNext / CfB, directed only to the chosen holy 70 , about how to milk the market slowly. 

[nesco1805]

Thank you ^^

For moneys that's literally created out of thin air, there was not much effort to give it away and spread before trying to cash out.

[salsacz]

I don't understand. I don't care about BCNext. Nxt was and is being released by 70 guys.. and this number is every day bigger and bigger (now 15.000). They have 5 months for the initial IPO before Nxt launches. Now we are still in alfa. Nxt was released by a community of 70 people.. I cannot even send a Nxt message with the stupid client that was created by the dinosaur inventor BCNext. Now months after the release I will finally get a client that was created by a non original stakeholder and funded by original stakeholders... The code won't look like it was written by my grandpa - again - thanks to the community effort, Jean-Luc, Ricot and other users, often non original stakeholders, who even don't know who BCNext is. This is Nxt.

[nesco1805]

yes we are in alpha...

yet we are pitied against each other in "Free trade" (we trade - you cry) environment like it's a final product.

[Come-from-Beyond]

Do you think 1 Bllion NXT divided by 73 people is fair to the rest of the people?

Yes, coz most of the people r not envy trolls like u. Ur position is clear - u lost the train and is very upset due to this.

[EvilDave]

Do you think 1 Bllion NXT divided by 73 people is fair to the rest of the people?

Yes, coz most of the people r not envy trolls like u. Ur position is clear - u lost the train and is very upset due to this.

I'm tempted to say "So f***ing what ? " to this whole concept of "fairness".

The original NXT stakeholders, in conjunction with BCNext, created NXT and divided it up amongst themselves.

Bill Gates and a couple of his buds created Microsoft and divided it up amongst themselves.

Larry and Sergey and a handful of their buds created Google and divided it up amongst themselves.

Marky Z. and a few of his buds created Facebook and divided it up amongst themselves.

Steve J, Steve W. and Ron created Apple and divided it up amongst themselves

Satoshi N. and a few of his/her/its buds created Bitcoin and then......

Can anyone see a pattern here?


So can any of the envy trolls explain exactly why NXT is so "unfair" to them ?
It was announced on a public forum, ffs. Everyone and anyone could have bought in to the original 73.

I didn't.

Missed the train completely, but I do know that if I jump on now, and help with making NXT the best it can be, my small investment will becoma a much bigger investment......and that ain't no bad thing.

[salsacz]

Evil: funny, you just wrote half of one of my still not published myth series

[Brilliantrocket]

I really hope NXT fails. Instamined coins are bs. No chance for anyone to get them except at highly inflated rates.

[cremstopper]

Isn't a coin more likely to be developed if the devs have a stake?

[2Kool4Skewl]

Then there comes the story from yesterday.  As the Nxt price was crashing by nearly 30% the "public face" behind Nxt, known as Coming-From-Beyond, posted:

We r going to test Asset Exchange for guys from Wall Street. Of coz, after we launch the exchange the price will go even higher.

(This is a personal opinion, not an advice to invest)

First his name is Come-From-Beyond not "Coming-From-Beyond".

Second... Don't you understand satire?  "Guys from Wall Street"  lol

Nxt is basically the antithesis of Wall Street.

[Brilliantrocket]

Then there comes the story from yesterday.  As the Nxt price was crashing by nearly 30% the "public face" behind Nxt, known as Coming-From-Beyond, posted:

We r going to test Asset Exchange for guys from Wall Street. Of coz, after we launch the exchange the price will go even higher.

(This is a personal opinion, not an advice to invest)

First his name is Come-From-Beyond not "Coming-From-Beyond".

Second... Don't you understand satire?  "Guys from Wall Street"  lol

Nxt is basically the antithesis of Wall Street.

Good one. A coin that is highly concentrated in the hands of the developer original stake holders. Seems quite similar to Wall Street.

[2Kool4Skewl]

Then there comes the story from yesterday.  As the Nxt price was crashing by nearly 30% the "public face" behind Nxt, known as Coming-From-Beyond, posted:

We r going to test Asset Exchange for guys from Wall Street. Of coz, after we launch the exchange the price will go even higher.

(This is a personal opinion, not an advice to invest)

First his name is Come-From-Beyond not "Coming-From-Beyond".

Second... Don't you understand satire?  "Guys from Wall Street"  lol

Nxt is basically the antithesis of Wall Street.

Good one. A coin that is highly concentrated in the hands of the developer original stake holders. Seems quite similar to Wall Street.

If more people would have invested, the genesis block would have been more diverse.  The investing period was over one and a half months.  There was very little interest that's why there were only ~70 original investors.

I'm not sure how you can compare NXT to usury capitalism.

[Alphi]

I'm not sure how you can compare NXT to usury capitalism.

100% proof of steak stake means that all of the newly created money goes to those individuals who already have it.

how is that any different from the federal reserve, a group of banks who have most of the money supply, printing more money?

and how is creating 1 billion coins on day one any different from ripple?

this is what I cant quite grasp about NXT.


PoW means people do some kind of work to get money.
PoS means those people who HAVE the money can do nothing and get more of the money.

in the old days this was called Serfdom, serfdom was then replaced by Corporate Capitalism which did a better job of convincing people they weren't slaves by paying them with paper money that decreased in value over time instead of letting them live on your land for free providing they worked for you every day of their lives.

if the old system is broken and bitoin is the answer... then is not nxt simply the old system in a new form?

I'm not saying that NXT will fail though... I mean look at DOGE it is a complete joke and its still growing (for now) lol...

I'm just interested in the logic being  100% PoS being a good idea...

[Brilliantrocket]

Then there comes the story from yesterday.  As the Nxt price was crashing by nearly 30% the "public face" behind Nxt, known as Coming-From-Beyond, posted:

We r going to test Asset Exchange for guys from Wall Street. Of coz, after we launch the exchange the price will go even higher.

(This is a personal opinion, not an advice to invest)

First his name is Come-From-Beyond not "Coming-From-Beyond".

Second... Don't you understand satire?  "Guys from Wall Street"  lol

Nxt is basically the antithesis of Wall Street.

Good one. A coin that is highly concentrated in the hands of the developer original stake holders. Seems quite similar to Wall Street.

If more people would have invested, the genesis block would have been more diverse.  The investing period was over one and a half months.  There was very little interest that's why there were only ~70 original investors.

I'm not sure how you can compare NXT to usury capitalism.

I've been hearing that the ipo was cut short, preventing many people who wanted to invest from doing so. Seems fishy to me.

[opticalcarrier]

fools.  the lot of you.

the second you grasp the concept that a 2nd generation currency isnt all about miners/investors making a profit will be the second you realize what is really going on.

I missed out on the initial buy in of NXT.  Im not calling it scam because I couldnt get in.

do whatever you want though

[ZeroTheGreat]

100% proof of steak stake means that all of the newly created money goes to those individuals who already have it.

U can't get very profitable mining rig out of air or by right of birth. PoW-distribution goes exactly like this: money to money.

[Alphi]

100% proof of steak stake means that all of the newly created money goes to those individuals who already have it.

U can't get very profitable mining rig out of air or by right of birth. PoW-distribution goes exactly like this: money to money.

I like your reasoning... for the first 3 years anyone with a computer could use their unused cycles as PoW to make bitcoins.
now that countless thousands of people have WORKED both with their unused computer cycles AND time to create ASICS, mining programs etc the people who were left out of the loop through their sheer ignorance decide to copy the idea and create their own currency that does not require any work at all apart from the initial set up and fixing a few problems as they arise...

sure I agree the bitcoin market has been taken over by first movers and companies/people with enough resources to create or buy ASICS but that does not mean that PoW itself is a failed idea... there are countless other Altcoins you can mine with your unused hardware if you so chose so its completely ridiculous to suggest that PoW distribution itself REQUIRES money to make money....

if any thing PoW in the bitcoin context is a victim of its own success because it has inspired people to work so hard and become so efficient that the work they are able to do 100s of times more work with the same amount of electricity in just a few short years.

[Ebrelus]

I'm not sure how you can compare NXT to usury capitalism.

100% proof of steak stake means that all of the newly created money goes to those individuals who already have it.

how is that any different from the federal reserve, a group of banks who have most of the money supply, printing more money?

and how is creating 1 billion coins on day one any different from ripple?

this is what I cant quite grasp about NXT.


PoW means people do some kind of work to get money.
PoS means those people who HAVE the money can do nothing and get more of the money.

in the old days this was called Serfdom, serfdom was then replaced by Corporate Capitalism which did a better job of convincing people they weren't slaves by paying them with paper money that decreased in value over time instead of letting them live on your land for free providing they worked for you every day of their lives.

if the old system is broken and bitoin is the answer... then is not nxt simply the old system in a new form?

I'm not saying that NXT will fail though... I mean look at DOGE it is a complete joke and its still growing (for now) lol...

I'm just interested in the logic being  100% PoS being a good idea...

Exactly!

Bitcoin redistribution was most fair, because noone knew it will be a success and there was a long time when people could buy it in a very affordable rate. Now it is maybe overvaluated but it's real value increases everyday with it's popularity, number of users and integration with real markets.

World of cyptocoins (POW) isn't perfectly just thou because of ASIC mining and corporate specialization of minning but still everyone can in some part participate and being rewarded for it.   

NXT for now has no uniqe functionalities yet. It has only advantage of being first in it's kind and being deflative cryptocurrency.

First distribution in so small group of unknown people is suspicious. 70+ people owning all coins in not even equal proportion is a joke.

There is no guarantee that NXT won't be controlled by few monopolistic stockholders with power to disrupt NXT rate any time they want. They can crush NXT rate like China can crush dollar anytime they want  

And second problem is limited distribution in time. People can buy it only. More big holders keep it, less NXTs will be flowing and higher rate you will see because of smaller supply while demand wil grow. That means big stock holders can intentionally keep NXTs to make rate higher and be richer later blocking better redistribution, because of less supply in pumped rate. 

Monopolists can keep majority of NXTs and they get richer while other small holders won't get any interest like that small elite creating even bigger problem of monopol. They can also easier speculate on NXT exchange because of no limit of amount of NXT in 1 offer. So manipulation of rate on exchange can give them also advantage and additional profit while other NXTers will have problem in dealling with this rate walls or loose their money at artificially created panic on exchange.

That's exactly the powers today central banking has and NXT built crypto aristocracy with perfect getting rich scheme where only biggest holders get interest when the rest get nearly nothing.

This is something what making NXT more speculative than any other cryptocurrency and something what has nothing to do with democratic, equal or just system of distribution. If you are in community you are a speculator or dreamer at least right now, before any really usefull and unique features will be trully implemented. Being second generation just because of a plan for future and POS system for now doesn't sound right.

Of course it's all the time a roulette with all cryptocoins. If you bet that you are buying cryptocoin undervaluated than it's your choice and maybe you are right but there is always big risk you aren't right. In these circumstances it is better to choose something what is more safe and transparent and something possibly equal to all users without risk of future manipulation of your coin value by some unknown monopolists.   
     
 

[salsacz]

First distribution in so small group of unknown people is suspicious. 70+ people owning all coins in not even equal proportion is a joke.

IPO was 40 days long. How long are IPOs these days?

[salsacz]

Monopolists can keep majority of NXTs and they get richer while other small holders won't get any interest like that small elite creating even bigger problem of monopol. They can also easier speculate on NXT exchange because of no limit of amount of NXT in 1 offer. So manipulation of rate on exchange can give them also advantage and additional profit while other NXTers will have problem in dealling with this rate walls or loose their money at artificially created panic on exchange.

this is welcome to the real world. In every financial system you get these data. Give 100 to everyone and in a year you have a few smart rich people and many poor people. It is http://en.wikipedia.org/wiki/Normal_distribution

[Alphi]

IPO was 40 days long. How long are IPOs these days?

the fact that you had to "BUY" in should have been a red flag right there.

bitcoin came about as a reaction to the monopolization and centralized control of money.

supporting a centralized currency is no different from going to an "occupy wall street" rally and selling T-Shirts that were made in china by a large multinational company.

in the midst of this gold rush some people have completely missed the point of the movement.

you cannot free yourself from your corporate masters if the first thing you do when you walk out into the wider world is buy into the promise of FREEDOM from another would-be corporate master.

Bitcoin is an experiment, as is litecoin, doge, NXT etc... but the experiment can only supplant the existing system if it improves upon it not replicates it.

an entirely PoS system is like a company made up entirely of shareholders.. ask yourself how a company can function if it doesn't have workers? can it survive if its entire workforce is outsourced?

I really don't have an answer but it will be interesting to see what happens next.