NXT mythbusters

[Uniqueorn]

Seeing as there is a lot of myths put forth by competitors and confused individuals regarding NXT, one of our most beloved community members has started a short series disspelling these myths one by one, starting with the most prominent ones:

http://nxtcoin.blogspot.com


If you still have any serious questions, then please just ask and we will do our best to clarify

[FrictionlessCoin]

Seeing as there is a lot of myths put forth by competitors and confused individuals regarding NXT, one of our most beloved community members has started a short series disspelling these myths one by one, starting with the most prominent ones:

http://nxtcoin.blogspot.com


If you still have any serious questions, then please just ask and we will do our best to clarify

Well what about this myth... "NXT is open source".

[PinkPotatos]

Seeing as there is a lot of myths put forth by competitors and confused individuals regarding NXT, one of our most beloved community members has started a short series disspelling these myths one by one, starting with the most prominent ones:

http://nxtcoin.blogspot.com


If you still have any serious questions, then please just ask and we will do our best to clarify

Well what about this myth... "NXT is open source".

..hahaha

[salsacz]

Seeing as there is a lot of myths put forth by competitors and confused individuals regarding NXT, one of our most beloved community members has started a short series disspelling these myths one by one, starting with the most prominent ones:

http://nxtcoin.blogspot.com


If you still have any serious questions, then please just ask and we will do our best to clarify

Well what about this myth... "NXT is open source".

sure
https://github.com/slothbag/nxt-decompiled

[dissident]

so 70% of bitcoins are held by 2-3% of the userbase?  It's no surprise a vocal group of people are pumping it then... if I had 1000 bitcoins I'd be selling 900 of them and converting them to physical bullion personally. Pigs get slaughtered, as they say... no way so many coins in so few hands is a healthy market.  It's no different than our fractional reserve systems of today where the top 1% control a huge percentage of the wealth.

I think I've made a decision here... I'm not going to help the 2% get even richer by promoting a system so top heavy at this point... once a coin is out that isn't a 'for profit' coin and is more evenly distributed I'll start mentioning crypto currencies more.

[salsacz]

so 70% of bitcoins are held by 2-3% of the userbase?  It's no surprise a vocal group of people are pumping it then... if I had 1000 bitcoins I'd be selling 900 of them and converting them to physical bullion personally. Pigs get slaughtered, as they say... no way so many coins in so few hands is a healthy market.

you probably don't know that in the fiat it is much worse..

[instacalm]

Seeing as there is a lot of myths put forth by competitors and confused individuals regarding NXT, one of our most beloved community members has started a short series disspelling these myths one by one, starting with the most prominent ones:

http://nxtcoin.blogspot.com


If you still have any serious questions, then please just ask and we will do our best to clarify

Well what about this myth... "NXT is open source".

FrictionlessCoin, good to see you! Hope you're well!

Are you still around keeping up your good old babbling and delusion? I admit I'm looking forward to your entertainment!

[Uniqueorn]

so 70% of bitcoins are held by 2-3% of the userbase?  It's no surprise a vocal group of people are pumping it then... if I had 1000 bitcoins I'd be selling 900 of them and converting them to physical bullion personally. Pigs get slaughtered, as they say... no way so many coins in so few hands is a healthy market.  It's no different than our fractional reserve systems of today where the top 1% control a huge percentage of the wealth.

I think I've made a decision here... I'm not going to help the 2% get even richer by promoting a system so top heavy at this point... once a coin is out that isn't a 'for profit' coin and is more evenly distributed I'll start mentioning crypto currencies more.

So how is Bitcoin better?

[fcmatt]

Could not large holders of nxt simply spread them around to many many wallets giving the appearance it is distributed widely yet they hold the keys to those wallets still? Couldnt something like that be automated and when they wish to come back to a main wallet some day for easy use they reverse the scripted process?

I am not sure, thus i ask.

[Uniqueorn]

Could not large holders of nxt simply spread them around to many many wallets giving the appearance it is distributed widely yet they hold the keys to those wallets still? Couldnt something like that be automated and when they wish to come back to a main wallet some day for easy use they reverse the scripted process?

I am not sure, thus i ask.

It would still be tracable and obvious and completely fraudulent.
Thankfully the NXT community is the opposite.

[fcmatt]

Could not large holders of nxt simply spread them around to many many wallets giving the appearance it is distributed widely yet they hold the keys to those wallets still? Couldnt something like that be automated and when they wish to come back to a main wallet some day for easy use they reverse the scripted process?

I am not sure, thus i ask.

It would still be tracable and obvious and completely fraudulent.
Thankfully the NXT community is the opposite.

Traceable if they were stupid enough to go back to a main wallet? Yes.
Not so obvious if those manufacturered wallet contents were sent to an exchange/person for sale, trade, etc over time?
Fraudulent? Yes, if the intentions were to make it seem like more people owned them then what it appears to be.

I am just asking this because the stats above seem like they could be easily faked by just a couple hours/days worth of scripting? How does one prove they were not in this VERY competitive alt coin arena?

Thank you for your reply earlier.

[FrictionlessCoin]

so 70% of bitcoins are held by 2-3% of the userbase?  It's no surprise a vocal group of people are pumping it then... if I had 1000 bitcoins I'd be selling 900 of them and converting them to physical bullion personally. Pigs get slaughtered, as they say... no way so many coins in so few hands is a healthy market.  It's no different than our fractional reserve systems of today where the top 1% control a huge percentage of the wealth.

I think I've made a decision here... I'm not going to help the 2% get even richer by promoting a system so top heavy at this point... once a coin is out that isn't a 'for profit' coin and is more evenly distributed I'll start mentioning crypto currencies more.

So how is Bitcoin better?

Bitcoin is open source...  peer reviewed and vetted.

NXT is closed source.

[FrictionlessCoin]

I got another NXT myth:

"NXT is secure"

and another one

NXT wallets are secure.

and a final one

DGEX is a real exchange

Please, tell me that these are not myths!

[Uniqueorn]

How is NXT closed source? are you smoking crack?


NXT is secure, all the "Mishaps" thus far hasn't had anything to do with NXT code, it has had to do with trojans and bullshit people have downloaded from unsecure sources, got nothing to do with NXT.

Whether you like DGEX or not has nothing to do with NXT. DGEX is a privately owned exchange and has nothing to do with NXT itself.

[FrictionlessCoin]

How is NXT closed source? are you smoking crack?

Show me the source, Luke!

When you do, I'll have a new IPO,  1 billion The Next NXT (TNN) coins issued!

[utopianfuture]

How is NXT closed source? are you smoking crack?

Show me the source, Luke!

When you do, I'll have a new IPO,  1 billion The Next NXT (TNN) coins issued!

https://github.com/slothbag/nxt-decompiled

[pinarello]

I got another NXT myth:

"NXT is secure"

and another one

NXT wallets are secure.

and a final one

DGEX is a real exchange

Please, tell me that these are not myths!

If you think dgex is not an exchange how about bter.com?

[relm9]

How is NXT closed source? are you smoking crack?

Show me the source, Luke!

When you do, I'll have a new IPO,  1 billion The Next NXT (TNN) coins issued!

This argument about the source not being open is getting tired. Java code can be easily decompiled with a few clicks and on top of that the NXT devs make no attempt to obfuscate the code (unlike eMunie).

[instacalm]

FrictionlessCoin, please keep it coming!

[FrictionlessCoin]

I got another NXT myth:

"NXT is secure"

and another one

NXT wallets are secure.

and a final one

DGEX is a real exchange

Please, tell me that these are not myths!

If you think dgex is not an exchange how about bter.com?

Bter is real,  that's why NXT will start crashing in the next few days.   In fact, it already lost 30% of its value since it listed on BTER.