[ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness!

[FrictionlessCoin]

It would be nice if,
it had a dog on it,
a cat on it,
or even a kanye on it,
but im still INTERESTED

Neat!

[FrictionlessCoin]

I really suck at poetry,
but,
I,
just,
want,
some,
NEX,
OK?
DOKE?

Interested

Okay

[FrictionlessCoin]

I will test.

But here's a serious question.

If you contribute "money" (which is value, energy), how is that not "fair"?

You realize that money in itself isn't evil right? You realize also some people don't have time to contribute to your project by the means you want, but when they want to buy something they give you money in exchange.

You're trying to make a "fair" distribution. Good luck with that, it will never be completely fair. But you're already stumbled upon these problems yourself...

NEX distribution to be fair to all will be merit based.

You automatically get a percentage of NEX if you show interest.

You get a percentage every time you contribute to NEX.

For the Nxt users who feel disenfranchised,  we will allocate 5% of NEX that they can purchase in exchange for NXT.  We will offer a steep discount of 1 NXT for 50 NEX.   5% of NEX is 50 million coins, this is a hard limit.  Nxt Coin holders are limited to 500,000 NEX per user.   The offer ends when NEX is distributed or the 5% is exhausted.   Nxt owners... this is your opportunity to become an early adopter.  

We will also allocate 1% for VISACOIN investors who lost their money.  This requires verification only that they sent BTC to the VISACOIN BTC donation address.  This is given freely.

It started as a joke now it is looking more and more like a scam.

Go for NEM https://bitcointalk.org/index.php?topic=422129.0 There will be no arbitrary rule of distribution and no dictatorship.  Everything will be shared equally for everyone showing the interest.

I have lost 1.56 BTC in VisaCoin, so I'd be extremely interested to get the extra 1% + more extra by helping in testing.

Thank you

Link to me your blockchain.info for the 1.56 you sent to VisaCoin.   We sympathize with you and will do what we can to help you out.   Also,  contributions at this time gets you a bigger share than cash.   Just do the math! 

http://blockchain.info/el/tx/f53e7c46e82425e577f439e16acadab637f6622c9c07229faaa06c8e69ca7ce7

^^ this is the transaction. My address in Multibit client is 1EXLjBmG78NnaG2Vkiitz3MvhNa9AUzmxW.

Sorry for the late response.

Well,  let's hope NEX appreciate enough in price to cover your loses.

[FrictionlessCoin]

All that is gold does not glitter,
Not all those who wander are lost;
The old that is strong does not wither,
Deep roots are not reached by the frost.
From the ashes a fire shall be woken,
A light from the shadows shall spring;
Renewed shall be blade that was broken,
The crownless again shall be king.

I'm interested too!

nice one.... thank you

[FrictionlessCoin]

I am really glad to see this project.  Go NEX!

Thanks!  You aren't going to be disappointed.

[FrictionlessCoin]

Raise your paw if you are interested!

[Hippie Tech]

I have updated my accusation thread against solracx/ FC.

https://bitcointalk.org/index.php?topic=412424.0

FC has negative trust, yet I do not see a warning.

Your smear campaign has no basis at all.

I'll bet you took that right out of solracx's mouth, Carlos.

eightspaces and some1 have posted negative feedback on your account, yet your profile appears to be clean. How is that ?

Please explain the apparent identity conflict. Why is solracx using your name and/or email ?

Then explain why you have so much faith in Level Coin and his alleged IPO scam ?

PROPOSAL:

Implementation of the following PROOF OF BURN:  https://bitcointalk.org/index.php?topic=422309.0;topicseen  FOR NEX

Level 1 (LV1) coins are the name of the currency that will be distributed via the pre launch fundraiser. These are the coins that will be on exchanges and can be bought and sold. These coins will generate 1 additional LV1 coin per week for every 1,000 LV1 coins that you own (updates fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth). This means that in one year of holding 1,000 LV1 coins, you will receive roughly 50 LV1 coins, or 5% per annum. Doesn't seem like much? Keep reading.

Level 2 (LV2) coins can only be obtained by burning Level 1 coins. For every 1,000 LV1 coins that are burned you will receive one LV2 coin. These coins can not be exchanged, sold, or discarded by any means and will be attached to the wallet indefinitely. Each LV2 coin will generate five LV1 coins per week. In one year of holding one single LV2 coin, you will receive roughly 250 LV1 coins. This equates to an increase of 25% per annum. Much better isn't it?

This cycle is revolutionary in the sense that someone holding LV2 coins will generate coins at a fast rate and cause inflation, yet to get LV2 coins they would need to burn LV1 coins and that would cause deflation. In every case of inflation, there is a stronger deflation to counteract it. This may very well be the first currency, both fiat and crypto, that has a built in mechanism to eliminate inflation on a very large scale. The cherry on top is that this deflation is instant, whereas inflation is dragged out over a long period of time. Let me give you an example:

Assuming a constant demand, a typical Proof of Work or Proof of Stake coin will lose a vast amount of value as the supply of coins on the market increases. A Proof of Burn coin on it's own will forever be attached to a Proof of Work or Proof of Stake coin and by association will also lose value over time, again noting that this assumes a constant demand. Levelcoin on the other hand has evolved to use a combination of the best features of Proof of Stake and Proof of Burn. This has lead to a system that is highly resistant to inflation and may in fact have the opposite effect. Assuming a constant demand, the value of Levelcoin will likely increase as more and more people burn their LV1 coins, causing supply to dwindle.

Nothing like this has been tried before and should the system work as planned, any founder will see an enormous return on investment. There is very little incentive for users to "pump and dump" or to flip in and out. This coin caters more towards loyalists, and considering that there will not be botnets nor ASCI's to deal with, everyone will have an equal opportunity to take part. The system is built around simplicity. Have you noticed how all new self proclaimed "next generation" currencies are getting more and more complex, both in their algorithm and distribution methods? There is no need for that, and Levelcoin aims to prove that. Google had the right idea by creating a simple search engine, and look where that got them!

Those who have faith in the currency and are in it for the long haul will reap enormous benefits from burning their LV1 coins to obtain LV2 coins and then selling the LV1 coins obtained via interest on an exchange that will likely be proprietary. Or they could choose to burn those new coins and compound their interest while at the same time creating scarcity for LV1 coins. The choice is yours. There will always be demand due to the fact that LV2 coins can not be obtained in any way other than by the purchase and burning of LV1 coins.

In summary,  this looks like an excellent idea.   Pre-launch NEX coins will be LV1 coins and new coins will be LV2 coins.  

This proof of burn functionality is superior to the 'forging' feature of Nxt.

The best way to think about this is to make the analogy between banks and enterprises.

Actually,  I should rename the LV1 and LV2 coin,    "NEX Invest Coin" and "NEX Enterprise Coin" .

With the NEX Invest Coin you get 5% interest. You never lose your principal.

With NEX Enterprise Coin you consume NEX Bank Coin but in the process you stand to gain 25% of what you gain.

[FrictionlessCoin]

Then explain why you have so much faith in Level Coin and his alleged IPO scam ?

I liked the Level coin idea.   No harm in that.

Is it a scam?  I have no idea. 

[FrictionlessCoin]

eightspaces and some1 have posted negative feedback on your account, yet your profile appears to be clean. How is that ?

Because none have any basis in fact.

All you have here are competitors trying to mount a smear campaign.

All of them are sock puppets for Nxt proponents.

This is how they try to squash competition by running a smear campaign.

Now how about you doing some research on NXT?

Yes, rated in polls as the #2 scam coin,  slightly beating out quark.

Yes, 100% premined.  1 Billion coins 100% premined and trading on an exchange called DGEX that owns other domains with the words "ponzi" in them.

Maybe you are associating with the entirely wrong side.

Finally, solracx has every right to his privacy.

Furthermore,  FrictionlessCoin is the voice of the corporate entity which is not necessarily the voice of solracx.

The currency website www.nextcoin.org and NXT echange platform DGEX.com are both hosted by the same company that appears have produced the currency.
That's Graviton Capital Inc.
By checking the WHOIS info on these websites the admin of both is goldtails@gmail.com

By googling that emailadress I discovered other websites that are adminned by this guy:

http://www.ipaddressden.com/email/goldtails@gmail.com.html

http://www.webboar.com/whois-email/goldtails@gmail.com

These are domainnames of gambling websites that look like scams.
The one that caught my eye the most is: www.ponzigame.com
PONZI GAME...

Above all that: in the terms of DGEX.com NXT exchange website it says that all BTC tranfered in to your DGEX account will become property of DGEX.com
So if DGEX.com decides to take all the BTC and close the website there is nothing you can do about it.

[pandaisftw]

Yes, 100% premined.  

Shows your lack of understand on how PoS works, no wonder you flip-flopped to a different system

Furthermore,  FrictionlessCoin is the voice of the corporate entity which is not necessarily the voice of solracx.

Aha, we got it all wrong. FrictionlessCoin isn't solracx, solracx is FrictionlessCoin!

But you never answered my proposal for a more fair coin:

It just occurred to me, that FC is being unfair (I'm kidding, I knew this all along) in that he is not distributing coins fairly. In fact, even if he gets 1000 "humans", this only represents 0.0000143% of the people in the world. That sounds pretty damned unfair to me, so I come with a suggestion: Increase the total coins to ~7 billion and give 1 NEX coin to everyone in the world. Introducing a new concept called PoB (Proof of Birth), 1 NEX coin will be generated for each baby born and given to them upon exiting their mother. Now that's fair!

After all, isn't the the most fair (and free) way?

[TheMightyX]

All you are doing is hurting your cause Frictionless.

It has become apparent that you are relying on others to do the work for you, so that you can modify it and release it as your own.

All though you may have started with good intentions (though it seems unlikely at this point) you have managed to derail and poison your original message. You are doing no one any favors by continuing this charade, least of all yourself.

You have spent the last 5 (10? 15?) pages just arguing with detractors about your past comments, personal identity, poems?

There can be no benefit in gaining "supporters" until you have something tangible unless you are looking to profit from them.

If you were serious about this, you would have shut your fucking mouth from day one, waited for that source code to be released and then made the new coin and started looking for support then. Instead you've gone off on this rediculous tangent like some fucking clown.

If you've got any funds from anyone, you should return them.

[FrictionlessCoin]

This is the FAIR distribution that the Nxt folks are so proud of:



This is a graph of the original NXT distribution.  73 accounts.

Here are the numbers:

36742
1970092
349130
24880020
2867856
9975150
2690963
7648
5486333
34913026
997515
30922966
6650
44888
2468850
49875751  <-- Did he pay in?
49875751  <-- Did he pay in?
9476393
49875751 <-- Did he pay in?
14887912
528683
583546
7315
19925363
29856290
5320
4987575
5985
24912938
49875751 <-- Did he pay in?
2724712
1482474
200999
1476156
498758
987540
16625250
5264386
15487585
2684479
14962725
34913026
5033128
2916900
49875751 <-- Did he pay in?
4962637
170486123 <--- 170 million Nxt
8644631
22166945
6668388
233751
4987575
11083556
1845403
49876
3491
3491
9476
49876
6151
682633
49875751 <-- Did he pay in?
482964
4988
49875751 <-- Did he pay in?
4988
9144
503745
49875751 <-- Did he pay in? Yup, 50million each
52370
29437998
585375
9975150

[Hippie Tech]

A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave.

You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.

I'm still waiting for your explanation regarding solracx's contact email, Mr. Perez.

hmmm... I thought FC was Perez ...

Answer this very important question !

And remove the negative feedback you posted on my profile !

Fairness MY ASS !

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

[FrictionlessCoin]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

Ok... I will accept the explanation of the unclaimed accounts.

However, you still have 40% going to 8 accounts.  Are these dev. accounts?

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

Ok... I will accept the explanation of the unclaimed accounts.

However, you still have 40% going to 8 accounts.  Are these dev. accounts?

Come-from-Beyond said he paid only 0.1 Bitcoin

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

Ok... I will accept the explanation of the unclaimed accounts.

However, you still have 40% going to 8 accounts.  Are these dev. accounts?

Q:    how many bitcoins are you going to contribute? (Are you going to keep the coins you contributed yourself?  Or you will take a creator cut (certain %)
BCNext::    I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.

What happened with the 21 Bitcoins?

Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.  21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.  BCNext did everything only for the people, not for the money.

The original funding period was open for over a month and a half.  That was more than enough time for everyone who wanted to invest to invest.  The only reason he only collected 21 BTC was because there was very little interest.  No matter when the IPO period ends there will always be people who are "left out".  You could conduct the IPO over a period of a thousand years and there would still be people "left out".

[rbdrbd]

I'm interested...may be that NXT with a fair distribution (and cleaned up code) may end up taking off.

[salsacz]

I'm interested...may be that NXT with a fair distribution (and cleaned up code) may end up taking off.

funny, Nxt's open distribution was 61 days long. This guy wants to have it only for one week.. NEX is probably the most unfair IPO then

[Hippie Tech]

FC

No one will believe anything you have to say unless you explain why solracx is using your name.

I am not part of a smear campaign, I am merely asking questions and stating facts.

The negative trust you posted on my profile is completely UNJUSTIFIED. Remove it IMMEDIATELY.

If you have anything to say, say it here or on the accusation thread I have against solracx. Any/all future PMs from you and solracx will be ignored.