[ANN] Nxt to NEX Buy In - Exchange 1 Nxt for 50 NEX (MODERATED)

[FrictionlessCoin]

Oh last question.  But in your OP, you basically linked to another coin ANN thread that was made before this one was, and copied and pasted the lvl1 and lvl2 coin implementation scheme.

I don't get it.  Are you the toplevel coin developer as well?  Or are you just going to copy their idea for nex?  It would just seem weird that there are going to be 2 virtually identical coins coming out soon both with initial investor funds accrued?

Would appreciate your reply for clarification.  Thanks.

The Level Coin was a proposed idea.  I am not exactly sure what happened to that coin.

However, NEX is much more than just an elaborate proof of stake/proof of burn system.   

More details will be revealed when the code is launched. 

However, suffice it to say, there is nothing out there like NEX.

There are other 2nd generation coins like Mastercoin, CounterParty and Nxt.   However, once NEX design is revealed, it will become obvious of its superior desgin over these coins.

Apologies that I can't devulge more information.

P.S.  Note:  This fundraising is to pay for development expenses.  It will top out at 1,000,000 Nxt. 

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[cubicdissection]

Note:  NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics.  Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes.  Think a year of distribution followed by a low inflation rate.  The initial distribution will however be proof of stake,  so there is an extreme advantage to be in the initial distribution.  

I'd be interested in more detail on this distribution model.  The guys at Etherium pondered the same issues and ended up with an IPO / PoW setup.  What specifically is your plan to distribute coins without PoW?  This is not a detail, it's a huge question that should be answered in full before funding occurs.

[FrictionlessCoin]

Note:  NEX is likely not a 100% proof of stake coin due to its very unfair distribution dynamics.  Distribution will happen with a mechanism other than proof of work, but it will happen over a period similar to proof of work schemes.  Think a year of distribution followed by a low inflation rate.  The initial distribution will however be proof of stake,  so there is an extreme advantage to be in the initial distribution.  

I'd be interested in more detail on this distribution model.  The guys at Etherium pondered the same issues and ended up with an IPO / PoW setup.  What specifically is your plan to distribute coins without PoW?  This is not a detail, it's a huge question that should be answered in detail before funding occurs.

There will be an initial distribution (as discussed in this thread and other threads).  After that (yet to be revealed) distribution mechanism will be made available for around a year.  Then the distribution drops to a low inflation rate.  That is the current plan.

100% Proof of Stake with 100% distribution in the beginning really works on the 'greater fool' theory that truly does not promote a wide distribution,  nor does it provide an incentive for participants to continually improve and support the P2P network.   What is clearly needed is a coin with the correct incentive mechanism that promotes growth.

[neken4]

 I pledge 10.000 NXT.

I desire the best for NEX!!   

[limingz]

Is it closed?7days has bee past. can i buy now?1nxt=50nxc

[FrictionlessCoin]

Is it closed?7days has bee past. can i buy now?1nxt=50nxc

Open until 1,000,000 Nxt have been pledged.

[FrictionlessCoin]

755,248 Nxt Pledged

See spreadsheet for details.

https://docs.google.com/a/codeaudit.com/spreadsheet/ccc?key=0AhwgzhIO_YCedEM4Tld4V05JRXh5Z09ZZS1KR2JYa0E#gid=0

[qiushui113]

I pledge 10000 nxt

desire the best for NEX! 

[it003]

I pledge 10000nxt

Interested

[btc1981]

Interested
I pledge 700nxt

[ashao1015]

I lost 0.1btc in VisaCoin scam

[coloredcoin]

interest,3k pledged.

[FrictionlessCoin]

778,948 Nxt Pledged

See spreadsheet for details.

https://docs.google.com/a/codeaudit.com/spreadsheet/ccc?key=0AhwgzhIO_YCedEM4Tld4V05JRXh5Z09ZZS1KR2JYa0E#gid=0

[tadkis]

Hello, is it over? Or i can take part now?

[FrictionlessCoin]

Hello, is it over? Or i can take part now?

It is over when 1,000,000 Nxt have been pledged.

[poloormaze]

you are good at promotion

[cubicdissection]

There will be an initial distribution (as discussed in this thread and other threads).  After that (yet to be revealed) distribution mechanism will be made available for around a year.  Then the distribution drops to a low inflation rate.  That is the current plan.

See, it's this "yet to be revealed" part I get hung up on.  Some very very smart people thought about it for a long time and came up with nothing.  I remain skeptical until more detail comes out on this point.

[flipstyle]

Will the nxt payments only be due AFTER the fully working client is released for inspection?

I am now only willing to do my 10,000 nxt pledge based on whether you will accept escrow on the payment (through whatever trusted bct member, 'escrow.ms' comes to mind, free of charge)...and I HIGHLY suggest everyone else in here does so.

There have been a ton of copy pasta IPO schemes lately (most notably stackcoin), so I suggest everyone do their due dilligence before payment.  I'm not saying for sure this is a scam, but your copy pasta of the 'proof of burn' concept has set off some alarms for me.

I hope you are willing to accept escrow to gain trust on your 'business model,' else you can count me out.  And if not, then I'll be sure to bump my own thread and say 'see guys, I told you so.'

[FrictionlessCoin]

Will the nxt payments only be due AFTER the fully working client is released for inspection?

I am now only willing to do my 10,000 nxt pledge based on whether you will accept escrow on the payment (through whatever trusted bct member, 'escrow.ms' comes to mind, free of charge)...and I HIGHLY suggest everyone else in here does so.

There have been a ton of copy pasta IPO schemes lately (most notably stackcoin), so I suggest everyone do their due dilligence before payment.  I'm not saying for sure this is a scam, but your copy pasta of the 'proof of burn' concept has set off some alarms for me.

I hope you are willing to accept escrow to gain trust on your 'business model,' else you can count me out.  And if not, then I'll be sure to bump my own thread and say 'see guys, I told you so.'

A pledge reserves the right to acquire NEX.  Payment will be due after a fully working client is released.   So there is no need for the escrow that you are requesting.

Maybe you are thinking of some other coin that has an escrow.   You don't need to do that here.

[flipstyle]

Will the nxt payments only be due AFTER the fully working client is released for inspection?

I am now only willing to do my 10,000 nxt pledge based on whether you will accept escrow on the payment (through whatever trusted bct member, 'escrow.ms' comes to mind, free of charge)...and I HIGHLY suggest everyone else in here does so.

There have been a ton of copy pasta IPO schemes lately (most notably stackcoin), so I suggest everyone do their due dilligence before payment.  I'm not saying for sure this is a scam, but your copy pasta of the 'proof of burn' concept has set off some alarms for me.

I hope you are willing to accept escrow to gain trust on your 'business model,' else you can count me out.  And if not, then I'll be sure to bump my own thread and say 'see guys, I told you so.'

A pledge reserves the right to acquire NEX.  Payment will be due after a fully working client is released.   So there is no need for the escrow that you are requesting.

Maybe you are thinking of some other coin that has an escrow.   You don't need to do that here.

Oh ok, thank you for the clarification.