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

[qingmu1992]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

what the meaning of TBD?

[FrictionlessCoin]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

what the meaning of TBD?

TBD - To Be Determined

[qingmu1992]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

what the meaning of TBD?

TBD - To Be Determined

Why the TBD is so large?

[xiangping1968]

Please do not post here about 'being interested'.

You need to go to http://www.nexcoin.net  to submit your interest.

My mistake! I have already given my email, I just saw everyone else doing it so I assumed you had to to claim your stake.

By the way, how many coins will NEX have? And is there an ETA for release?

100 million on release,  1 billion total. 

3 weeks.

So when will the remaining 900 million NEX be released? Will they be distributed to the stakeholders, or is that what the 100 million is reserved for?

That 900 million is competitively mined.

Oh I see! I was under the assumption it'd be 100% PoS like NXT was.

So there is 34.5 million NEX reserved for people who have sent NXT, leaving 65.5 million for the 'interested' and email guys?

Is the mining similar to forging NXT? As in, the more NEX you own, the more NEX you mine?

100 million initial distribution.  50 million for NEX.   5 million for VisaCoin victims.  45 million TBD.

Yes, mining is similar to forging,  the difference is with Nxt all you get are transaction fees, with NEX you get newly minted coins.  So the reward is much higher with NEX for initial stakeholders. 

Consider mining as a distribution that stretches out for a much longer period. 

I think you should give out a WhitePapers about the NEX.
There are so many unknown factors on NEX.
You say , the 900M is used to mining .But where the transfer fee going to ?
And how can you promise you will not own the most coin?
How you transfer the NEX to the stake holders ?
How about the EXCHANGE .....
How many NEX used to support the develop?

[FrictionlessCoin]

Please do not post here about 'being interested'.

You need to go to http://www.nexcoin.net  to submit your interest.

My mistake! I have already given my email, I just saw everyone else doing it so I assumed you had to to claim your stake.

By the way, how many coins will NEX have? And is there an ETA for release?

100 million on release,  1 billion total. 

3 weeks.

So when will the remaining 900 million NEX be released? Will they be distributed to the stakeholders, or is that what the 100 million is reserved for?

That 900 million is competitively mined.

Oh I see! I was under the assumption it'd be 100% PoS like NXT was.

So there is 34.5 million NEX reserved for people who have sent NXT, leaving 65.5 million for the 'interested' and email guys?

Is the mining similar to forging NXT? As in, the more NEX you own, the more NEX you mine?

100 million initial distribution.  50 million for NEX.   5 million for VisaCoin victims.  45 million TBD.

Yes, mining is similar to forging,  the difference is with Nxt all you get are transaction fees, with NEX you get newly minted coins.  So the reward is much higher with NEX for initial stakeholders. 

Consider mining as a distribution that stretches out for a much longer period. 

I think you should give out a WhitePapers about the NEX.
There are so many unknown factors on NEX.
You say , the 900M is used to mining .But where the transfer fee going to ?
And how can you promise you will not own the most coin?
How you transfer the NEX to the stake holders ?
How about the EXCHANGE .....
How many NEX used to support the develop?

I think you should give out a WhitePapers about the NEX.

-> See www.nexcoin.net

There are so many unknown factors on NEX.

-> This will be known before distribution.  The exact details are kept private for now,  but NEX will be more like Mastercoin/CounterParty than Nxt.  So if you know the technical difference between these then you have an idea of what direction NEX will be going.   NEX employs tried and tested Bitcoin technology to secure its network, at the same time unlike Bitcoin, it is not restricted to 10 minutes per transaction. 

You say , the 900M is used to mining .But where the transfer fee going to ?

-> Like Bitcoin and every other alt-coin,  transfer fees go to miners.

And how can you promise you will not own the most coin?
-> A majority of initial distribution is with the stake holders.   90% is mined afterwards give everyone a chance to acquire more stake.  Compare with Nxt with 73 uses have 80% of all the coins.

How you transfer the NEX to the stake holders ?
-> Using a NEX wallet.

How about the EXCHANGE .....
-> NEX is built from the ground up to provide a distributed high performance exchange.

How many NEX used to support the develop?
-> The 50 million NEX sold for 1 million Nxt will used to support development, deployment and maintenance of the network.   The Visacoin victims and those interested get NEX without any need to contribute.

[xiangping1968]

Please do not post here about 'being interested'.

You need to go to http://www.nexcoin.net  to submit your interest.

My mistake! I have already given my email, I just saw everyone else doing it so I assumed you had to to claim your stake.

By the way, how many coins will NEX have? And is there an ETA for release?

100 million on release,  1 billion total. 

3 weeks.

So when will the remaining 900 million NEX be released? Will they be distributed to the stakeholders, or is that what the 100 million is reserved for?

That 900 million is competitively mined.

Oh I see! I was under the assumption it'd be 100% PoS like NXT was.

So there is 34.5 million NEX reserved for people who have sent NXT, leaving 65.5 million for the 'interested' and email guys?

Is the mining similar to forging NXT? As in, the more NEX you own, the more NEX you mine?

100 million initial distribution.  50 million for NEX.   5 million for VisaCoin victims.  45 million TBD.

Yes, mining is similar to forging,  the difference is with Nxt all you get are transaction fees, with NEX you get newly minted coins.  So the reward is much higher with NEX for initial stakeholders. 

Consider mining as a distribution that stretches out for a much longer period. 

I think you should give out a WhitePapers about the NEX.
There are so many unknown factors on NEX.
You say , the 900M is used to mining .But where the transfer fee going to ?
And how can you promise you will not own the most coin?
How you transfer the NEX to the stake holders ?
How about the EXCHANGE .....
How many NEX used to support the develop?

I think you should give out a WhitePapers about the NEX.

-> See www.nexcoin.net

There are so many unknown factors on NEX.

-> This will be known before distribution.  The exact details are kept private for now,  but NEX will be more like Mastercoin/CounterParty than Nxt.  So if you know the technical difference between these then you have an idea of what direction NEX will be going.   NEX employs tried and tested Bitcoin technology to secure its network, at the same time unlike Bitcoin, it is not restricted to 10 minutes per transaction. 

You say , the 900M is used to mining .But where the transfer fee going to ?

-> Like Bitcoin and every other alt-coin,  transfer fees go to miners.

And how can you promise you will not own the most coin?
-> A majority of initial distribution is with the stake holders.   90% is mined afterwards give everyone a chance to acquire more stake.  Compare with Nxt with 73 uses have 80% of all the coins.

How you transfer the NEX to the stake holders ?
-> Using a NEX wallet.

How about the EXCHANGE .....
-> NEX is built from the ground up to provide a distributed high performance exchange.

How many NEX used to support the develop?
-> The 50 million NEX sold for 1 million Nxt will used to support development, deployment and maintenance of the network.   The Visacoin victims and those interested get NEX without any need to contribute.

Thank you for your answer.
I like the project .
Wish the better.
And I have shown the interest by the introduce of the chat group.
You say, the release time is in 3 weeks?
Will it be like another coins , just Delayed until date ?

[Astori7]

Interested  .

[Maritake]

Interested,
Please add me to stakeholder list .
Thx

[FerociousPast9]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

5 million isn't much, we'd hardly be stakeholders if that's the case...

What determines how much NEX you forge? The amount you have?

[Dropfliesup]

I am interested .

[geyu]

interested

[FrictionlessCoin]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

5 million isn't much, we'd hardly be stakeholders if that's the case...

What determines how much NEX you forge? The amount you have?

5 million isn't much?

[FrictionlessCoin]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins.  

what the meaning of TBD?

TBD - To Be Determined

Why the TBD is so large?

The cost to maintain a secure and robust P2P network can become very expensive.  45 milion is less than 5% of the total distribution.   Consider the cost of development and infrastructure,  then this is a better alternative than many of the alt-coin that have have been abandoned due to lack of development and maintenance.  If NEX is to be the most advanced Crypto-currency then it absolutely needs ongoing development.

We are familiar with this problem of not receiving enough funds for development.  We maintain iXcoin development and it has always been a problem raising coin to facilitate improvement of the coin.

[qingmu1992]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins. 

what the meaning of TBD?

TBD - To Be Determined

Why the TBD is so large?

The cost to maintain a secure and robust P2P network can become very expensive.  45 milion is less than 5% of the total distribution.   Consider the cost of development and infrastructure,  then this is a better alternative than many of the alt-coin that have have been abandoned due to lack of development and maintenance.  If NEX is to be the most advanced Crypto-currency then it absolutely needs ongoing development.

We are familiar with this problem of not receiving enough funds for development.  We maintain iXcoin development and it has always been a problem raising coin to facilitate improvement of the coin.

As you say, You will get most coins .
At the same time, we who show interest will Divide the 5m? That means if there are 3000 people show interest , I just have one stake, I just get only 1666NEX?
If you have the 45m NEX, and you will mine more NEX so you will get more NEX than just 5%. I know the cost to maintain a secure and robust P2P network can become very expensive But the 45m is so large , isn't it ?
So it is unfair !
Can you explain more about the NEX Divide ?

[FrictionlessCoin]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins. 

what the meaning of TBD?

TBD - To Be Determined

Why the TBD is so large?

The cost to maintain a secure and robust P2P network can become very expensive.  45 milion is less than 5% of the total distribution.   Consider the cost of development and infrastructure,  then this is a better alternative than many of the alt-coin that have have been abandoned due to lack of development and maintenance.  If NEX is to be the most advanced Crypto-currency then it absolutely needs ongoing development.

We are familiar with this problem of not receiving enough funds for development.  We maintain iXcoin development and it has always been a problem raising coin to facilitate improvement of the coin.

As you say, You will get most coins .
At the same time, we who show interest will Divide the 5m?
If you have the 45m NEX, and you will mine more NEX so you will get more NEX than just 5%.

Total coins is 1 billion.  There are two ways to get coins... this is similar to PeerCoin. 

(1) Mining (The actual method has not been revealed)
(2) Proof of Stake

Like Peer coin you get more coins if you mine.  Proof of stake just pays a percentage (TBD) and fees.

The majority distribution is via mining.  The difference with NEX and  all other coins is that mining does not require a lot of hardware!

What we are trying to design is the correct economic incentive model so that the network remains secure and robust.  This is critical,  the incentive structure most promote the growth of the P2P network.

[boestin]

Interested

[qingmu1992]

Do you mean 50 million for NXT? So 45 million split between the 'interested' stakeholders'? How many stakeholders are there currently? Will the stakeholder list be updated soon, my email hasn't appeared there yet.
The minding/forging stuff sounds pretty interesting! Three weeks is pretty soon; will there be a wallet/client and an exchange by then or..? Also, how will the coins be delivered?

Thanks, sorry for all the questions!

45 million TBD.   At a minimum, 5 million split among interested stakeholders... this involves
(1) Sending your email
(2) Referring people using the referral link
(3) Liking on Facebook  http://www.facebook.com/NEXcoin
(4) Following on Twitter. http://www.twitter.com/NEXcoin

Each one counts for more stake.  Note: (1) and (2) must come from different people.

A wallet will be made available to receive coins. 

what the meaning of TBD?

TBD - To Be Determined

Why the TBD is so large?

The cost to maintain a secure and robust P2P network can become very expensive.  45 milion is less than 5% of the total distribution.   Consider the cost of development and infrastructure,  then this is a better alternative than many of the alt-coin that have have been abandoned due to lack of development and maintenance.  If NEX is to be the most advanced Crypto-currency then it absolutely needs ongoing development.

We are familiar with this problem of not receiving enough funds for development.  We maintain iXcoin development and it has always been a problem raising coin to facilitate improvement of the coin.

As you say, You will get most coins .
At the same time, we who show interest will Divide the 5m?
If you have the 45m NEX, and you will mine more NEX so you will get more NEX than just 5%.

Total coins is 1 billion.  There are two ways to get coins... this is similar to PeerCoin. 

(1) Mining (The actual method has not been revealed)
(2) Proof of Stake

Like Peer coin you get more coins if you mine.  Proof of stake just pays a percentage (TBD) and fees.

The majority distribution is via mining.  The difference with NEX and  all other coins is that mining does not require a lot of hardware!

What we are trying to design is the correct economic incentive model so that the network remains secure and robust.  This is critical,  the incentive structure most promote the growth of the P2P network.

That means if there are 3000 people show interest , I just have one stake, I just get only 1666NEX?

[FrictionlessCoin]

That means if there are 3000 people show interest , I just have one stake, I just get only 1666NEX?

Yes.  That is correct.   If all you did was registering your email at www.nexcoin.net and only 3,000 people did so,  then 1,666 NEX is what you will receive.

Now if you

(1) Liked on FaceBook
(2) Followed on Twitter
(3) Referred 5 other unique users

Then you will get 1,666 x 8 = 13,328 NEX.

This is the only 2nd generation coin that is being released where you can still get a stake by not having to buy in.

[qingmu1992]

That means if there are 3000 people show interest , I just have one stake, I just get only 1666NEX?

Yes.  That is correct.   If all you did was registering your email at www.nexcoin.net and only 3,000 people did so,  then 1,666 NEX is what you will receive.

Now if you

(1) Liked on FaceBook
(2) Followed on Twitter
(3) Referred 5 other unique users

Then you will get 1,666 x 8 = 13,328 NEX.

I think the 5m is so little.
Can you make it large ?
I think when it become larger, people will get more Motivation.
BTW, the NEM give out one stake 1m NEM.

[FrictionlessCoin]

That means if there are 3000 people show interest , I just have one stake, I just get only 1666NEX?

Yes.  That is correct.   If all you did was registering your email at www.nexcoin.net and only 3,000 people did so,  then 1,666 NEX is what you will receive.

Now if you

(1) Liked on FaceBook
(2) Followed on Twitter
(3) Referred 5 other unique users

Then you will get 1,666 x 8 = 13,328 NEX.

I think the 5m is so little.
Can you make it large ?
I think when it become larger, people will get more Motivation.
BTW, the NEM give out one stake 1m NEM.

it is not set in stone yet,  but if the participation is greater,  then certainly more than 5m would be needed.

NEM is 4 billion coins.  I think 4,000 particpants but people had to pay in.  The model with NEX is different because 90% of distribution is made via mining and proof of stake.