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

[chocobo]

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

Interested

[Leknar]

Very interested.

[LiQio]

Well then if you want to hang around here,  you might want to vote for the cutest kitten to serve as the NEX mascot:

In Search of a NEX Mascot!

Could you give us some more, I think they are all nice, but not the real deal...

BTW. when you speak of "us" are you referring to you and your cats? Which of the cats is the lead developer of NEX?

[rnr]

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?

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 LV1 coins will be called "NEX Foundation Coins"

The LV2 coins will be called "NEX Proof of Stake Coins"

Note: Only NEX Foundation Coins are exchangeable as described by the proposal.

We will refine this over time.

Very interesting proposal. Do we get our bonus LV1 coins only when we're forging, or does the network give us them even when we're not forging? Or is there no forging going on at all?

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 Bank Coin" and "NEX Enterprise Coin" .

With the NEX Bank 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.

It is actually a quite excellent and simple system.

Finally some innovation!! That's the spirit if we're gonna surpass NXT.

Yes, from Level Coin: https://bitcointalk.org/index.php?topic=422309.0

[mengmeng]

 ;Dprogress

[rnr]

I'm interested!  

NEX open source from the start. Why would anyone prefer the closed source alternative? (NXT promised the sources for January, they now say April; it will probably never be fully open source. This is too bad for serious money)

Haven't you heard?  Nxt is a proprietary closed source coin disguising itself as 'open source'.

We've already decompiled it and have a running version of it.   One reason it is closed source is because the code is plain horrible.

In fact, the entire experience is horrible.  People can't get their clients to sync,  people lose wallets all the time and it is so common for the files to become corrupted.  I'm not making this up,  just head over to the Nxt threads.

Anyway, that's why the 1:50 Nxt to NEX exchange is reality plain and simple charity.  Same kind of charity we are giving the VisaCoin victims.  Nxt coin holders are actually victims not investors.

I am really impressed about that you are such a beneficent person and taking care of the possible losses from others.

Serious questions to FrictionlessCoin:

a) In case that Nxt will not struggle and the NXT-coin holders are don´t gonna loose anything or be victims (please clarify "victims")... so, than what will happen with the funds you have collected and received to you Nxt-account already? And additional... what´s the timeframe (please determine)?

b) Will you give the collected "charity" funds into hands of an escrow service?

c) What´s your refund plan if NEX never be launched? Do you will refund with additional interest?

d) Will you benefit from an active forging with the collected NXT? Also here, in case of c)... will you divide and payout the forged NXT with the refund?

[cryptohunter]

I'm interested!  

NEX open source from the start. Why would anyone prefer the closed source alternative? (NXT promised the sources for January, they now say April; it will probably never be fully open source. This is too bad for serious money)

Haven't you heard?  Nxt is a proprietary closed source coin disguising itself as 'open source'.

We've already decompiled it and have a running version of it.   One reason it is closed source is because the code is plain horrible.

In fact, the entire experience is horrible.  People can't get their clients to sync,  people lose wallets all the time and it is so common for the files to become corrupted.  I'm not making this up,  just head over to the Nxt threads.

Anyway, that's why the 1:50 Nxt to NEX exchange is reality plain and simple charity.  Same kind of charity we are giving the VisaCoin victims.  Nxt coin holders are actually victims not investors.

I am really impressed about that you are such a beneficent person and taking care of the possible losses from others.

Serious questions:

a) In case that Nxt wouldn´t struggle and the NXT-coin holders wouldn´t loose anything or be victims (please clarify "victims")... so, than what will happen with the funds you have collected and received to you Nxt-account already? And additional... what´s the timeframe (please determine)?

b) Will you give the collected "charity" funds into hands of an escrow service?

c) What´s your refund plan if NEX never be launched? Do you will refund with additional interest?

d) Will you benefit from an active forging with the collected NXT? Also here, in case of c)... will you divide and payout the forged NXT with the refund?

Interesting questions. How long before it kicks off anyway?

[eXSn]

roses are red
violets are blue
i want NEX coins too

[yshuifejng]

The plan looks great

[Revelations86]

Interested

[luckygenough56]

It's raining in the kitchen
and my cousin is named Chen
all written with my little pen
insane rhymes are insane
to da moon chicken

[EvilDave]

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

And here we have official nex human number 9, congratulations, threedaymonk !

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

Interested

Dont be so hard on yourself, chocobo, your sweet haiku gets u the number 10 spot.

roses are red
violets are blue
i want NEX coins too

Short and sweet, number 11

It's raining in the kitchen
and my cousin is named Chen
all written with my little pen
insane rhymes are insane
to da moon chicken

Lucky enough to be nex confirmed human number 12

So remember, guys, if u want to show that u r really human, not just a sock puppet, and that u love nex and the delightful FC (FCs?), get those poems rolling in.

[extee]

Nxt investors actually made your project possible though. if BcNext would have not received  the 21 btc he asked for he would have never released the (old) source code. that source code may be poor (it was still alpha basically)...but it is an inspiration and outlines the 100% Pos. if that source code wasn't made available you would still be doing bitcoin PoW clones....like you was doing till not long ago. for the sake of fairness must be noted.

[EvilDave]

Update time:

The great "am I a sock puppet" Challenge Cup is now open:


It has been claimed by some very naughty, cynical people, that most/all of the above people in this thread who express interest in nex are in fact nothing more than FrictionlessCoins suck poppets. That u guys do not actually exist, and that nex is nothing more than a scam by FC.

So, in order to prove that u guys are really real:

Write a short poem (limerick/haiku/sonnet/whatever) in your native language, whatever that may be, then post it here.
4 or 5 lines is more than enough, post it here, together with your "interested"

Everyone who gets a poem together and posts it, is probably a really real person.


Go, guys, go. Now is your chance to show your support for FC and his wonderful project.

Heres is the list of FCs nex investors and poems, with the confirmed total of humans standing at 14, of whom 7 are actually investors (I think)
Yep, this nex is going to be absolutely huge:



2500 tk808
50     operatr
10000 lucky88888 (lost 9995, by using the nex client)
  These 3 get honourary human status, no poems needed.
5000, OOO
1000, romawi
10000, garicup
10000, nomailing
20000, canth <--- exceeds limit
   Why I waste my time
   Writing shitty poems for
   EvilDave. Fuck off please.

10000, chetalk
3000, kolbas
10000, teco051
10000, bitular
8000, indigon
4000, homerzhu
2000, nfigueir
5000, tobyliciously
10000, atomiclock
1000, hvezdasmrti
10000, smophf7
10000, ow48uh
10000, rioshock2
1000, fragout
10000, sottymax
4000, LeFiste
10000, soarlyzed
10000, snipedrunk
2000, Swisscoin
5000, dannac
10000, fibbonac1z
10000, vemdoctor9
5000, Siegtal81
5000 irrawaddybtc
10000 Franconomasky
2000 cntrlsquare
10000 Jaguar0625:
   The NXT 21
   Might think they have won
   But they are in for a fight
5000 NapoBear
10000 tylenol3mit
6000 dlog
1000 toolatetoberich?
2465 eXme
10000 miramare
1000 langkeming
1000 steyast012
1100 alrose
7000 bitfromit
1000 icoinv
4000 lenco
1000 Msile
10000 ripplebtc
10000 cremstopper
10000 jajansen
2683  lonesoul
5000 zurra
5000 td services
   I cruised online to get sexed,
   with a wallet stuffed full of NXT
   I found a hot honey,
   to take all my money,
   but when she got NXT she got vexed!
10000 lda1000
  7000 SyRenity
10000 wallacemckart
 7500  Kuttingcorners
   im in for exchanging 7500 nxt
   i hope it turns out for the best
   sometimes coins don't work
   but at least theres the perk
   we can all call the developer a jerk!


Opticalcarrier:
   roses are red
   violets are blue
   some poems rhyme
   some dont

buybitcoinscanada:
   I came to this thread
   The proposal I read
   And instantly knew that frictionless
   Was f***ed in the head

Jbo:
   I missed the train for NXT
   But believe in a great future for NEX
   By writting this poem I can tell you
   That I am an human too

threedaymonk:
   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

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

eXSn:
   roses are red
   violets are blue
   i want NEX coins too

luckyenough56:
   It's raining in the kitchen
   and my cousin is named Chen
   all written with my little pen
   insane rhymes are insane
   to da moon chicken

[merockstar]

This is my attempt at a poem.
My interest in Nex I will show 'em.

Wanna get in early, on this cryptocurrency-- tired of always being a slow one.

[FrictionlessCoin]

Nxt investors actually made your project possible though. if BcNext would have not received  the 21 btc he asked for he would have never released the (old) source code. that source code may be poor (it was still alpha basically)...but it is an inspiration and outlines the 100% Pos. if that source code wasn't made available you would still be doing bitcoin PoW clones....like you was doing till not long ago. for the sake of fairness must be noted.

Actually, that is incorrect.  One of the folks helping develop NEX is in fact the person who invented Nxt's 100% Proof of Stake.   Nxt stole his invention and provided zero attribution to this person.  

[wizzardTim]

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.

[FrictionlessCoin]

I am really impressed about that you are such a beneficent person and taking care of the possible losses from others.

Serious questions to FrictionlessCoin:

a) In case that Nxt will not struggle and the NXT-coin holders are don´t gonna loose anything or be victims (please clarify "victims")... so, than what will happen with the funds you have collected and received to you Nxt-account already? And additional... what´s the timeframe (please determine)?

b) Will you give the collected "charity" funds into hands of an escrow service?

c) What´s your refund plan if NEX never be launched? Do you will refund with additional interest?

d) Will you benefit from an active forging with the collected NXT? Also here, in case of c)... will you divide and payout the forged NXT with the refund?

I think you need to check the Nxt to NEX exchange thread to correct your facts.

The Nxt to NEX exchange is a reservation to exchange coins when the NEX implementation is made available.

So with that in mind.

(a)  I do not know when Nxt will crash,  but that is just my expectations.  I cannot know with precision what the time frame will be.  But it could be tomorrow or it could be a year from now.  All I know is the source code is vulnerable.

(b) The Nxt to NEX contributions go to the development fund of NEX.  This has been stated before.

(c) There is no need for a refund, because as stated earlier, there is no exchange unless NEX is launched.  In fact, all IPO should be like this.  Nobody should have to buy before a coin is launched.

(c) As stated before,  the Nxt that will be acquired will be sold as soon as possible on the BTER exchange.  There is no motivation to hold Nxt.   So there will be zero forging of the Nxt that is acquired.  The Nxt will go straight to an exchange to be sold.

[FrictionlessCoin]

Interesting questions. How long before it kicks off anyway?

Patience.  We are only 40% from the Nxt to NEX exchange.

There are less than 1,000 people who have signified interest.

We are still working on the code. 

We will be releasing alpha versions for testing prior to distribution. 

We aren't going to be irresponsible like the Nxt folks by releasing code without testing it.

[Come-from-Beyond]

We will be releasing alpha versions for testing prior to distribution. 

That's great. I hope u don't mind if we replace Nxt core code with Nex one? Will the source code be available or at least non-obfuscated?