Next coin is highly misunderstood and undervalued on this forum.

[nwbitcoin]

I found out about Nxtcoin a few weeks ago

It can't be mined in the traditional sense because mining is a waste of energy. Proof of Stake is why I also bought a few Peercoin, but Nxtcoin offers even more.

The 1 bn coins and 70 original investors is a red herring argument.  While its true that if they would sell all their Nxtcoins they would earn 70000 Btc, the reality is that nobody would buy them.  A dump of that ratio would soon bring its market cap price down to something like 21 BTC or so! ;-) They might get their money back, but its unlikely.

Turning the argument on Bitcoin, nobody seems to be moaning about the millions of coins owned by early adoptors of bitcoin. There is a statistic that suggests that the share of Nxtcoin is already fairer than Bitcoin.

The big thing for me is that the 51% attack problem disappears with Nxtcoin.  That is very important for scaling, because we are already seeing pools being able to fork bitcoin with their monopoly in mining.

The main thing for new users to remember is that I have been active in the crypto currency scene for the last 12 months. I've seen the scam coins come and go, and I have made some good money from trading coins.  I have invested in Nxtcoin because I think it has a future.  Its up to you if you want to agree, but nobody is forcing anyone to create the future - it will happen regardless! ;-)

[GröBkAz]

I found out about Nxtcoin a few weeks ago

It can't be mined in the traditional sense because mining is a waste of energy. Proof of Stake is why I also bought a few Peercoin, but Nxtcoin offers even more.

The 1 bn coins and 70 original investors is a red herring argument.  While its true that if they would sell all their Nxtcoins they would earn 70000 Btc, the reality is that nobody would buy them.  A dump of that ratio would soon bring its market cap price down to something like 21 BTC or so! ;-) They might get their money back, but its unlikely.

Turning the argument on Bitcoin, nobody seems to be moaning about the millions of coins owned by early adoptors of bitcoin. There is a statistic that suggests that the share of Nxtcoin is already fairer than Bitcoin.

The big thing for me is that the 51% attack problem disappears with Nxtcoin.  That is very important for scaling, because we are already seeing pools being able to fork bitcoin with their monopoly in mining.

The main thing for new users to remember is that I have been active in the crypto currency scene for the last 12 months. I've seen the scam coins come and go, and I have made some good money from trading coins.  I have invested in Nxtcoin because I think it has a future.  Its up to you if you want to agree, but nobody is forcing anyone to create the future - it will happen regardless! ;-)

Very good explanation

[qiwoman]

it's far from undervalued, $70Million cap and its very new. that's amazing enough

I just bought 235 NXT at dgex and am planning to buy around 0.02 btc of it weekly for the next few weeks as I think it is a good addition to any cryto portfolio. When I bought 1k NXT I got it and it went up 5 times but then I sold it to buy ghs in CEX lol should have kept it where it was but now I am buying back again to get to at least 5-10k NEXT if I can afford it and let it sit.

[hvezdasmrti]

Its not misunderstood even undervalued.

The IPO was a joke, too short and too much inside informations needed to join with more money, i understood well.

The early distribution was a trust holding all coins selling them hell expensive. I understood very well.

The market cap is not realistic because it contains almost coins which still were not traded yet any times. Just because artifical overvaluing. I understood very well.

I learned how the price works, 0.00010+ = trust selling 0.00006 and less = trust not selling = buy to sell at double price

I am hating NXT as much as possible, no misunderstanding or undervaluing, just logical reaction.

[gadado]

Well you fail to address the real question:

 Where is the value for any user to invest in Nxt?
 
 Where is the Value of Nxt that makes it superior for the user to start useing it for anything?

All you say is it's a good investment better than buying a new rig. (*)
Or it's a good investment because I (whoever you are) say so without putting an argument with value on the table.


>A dump of that ratio

They would be stupid to dump it all at one time.  If you see coins like doge and what value is dumped there over time through multipools then you see that your argument is thin. You can extract the value out of the marked but only of course if you convinced enough users that the coin has some value.

Ture Bitcoin early adopters have an advantages. But still today it's possible to get in and mine and be part of it and benfit (although yes with the asics its game over at least for bitcoin not so for altcoins and the next little people coins.. the current  cpu coins) And i bet most early bitcoin miner already sold most they had. There is no POS like Nxt has.

the 51% Yes a good thing. But doesnt generates direct value for a user.


(*) most on the internet have a PC and a graphiccard already and dont have to buy anything new to generate money.

sry I might be blind but I just don't SEE where Nxt is any better than any of the coins.

(Except the valid point that it doesnt wasts so much energy like the others).

[qiwoman]

Its not misunderstood even undervalued.

The IPO was a joke, too short and too much inside informations needed to join with more money, i understood well.

The early distribution was a trust holding all coins selling them hell expensive. I understood very well.

The market cap is not realistic because it contains almost coins which still were not traded yet any times. Just because artifical overvaluing. I understood very well.

I learned how the price works, 0.00010+ = trust selling 0.00006 and less = trust not selling = buy to sell at double price

I am hating NXT as much as possible, no misunderstanding or undervaluing, just logical reaction.

I think hate is a bit of a strong word here. Remember crypto currencies are a huge human experiment of this generation and I must applaud not only the NXT Devs but also all the BTC AND CRYPTO Devs who are like a smouldering pot of ingenuity and ideas. We must take this great Experiment, with its ups and downs and flaws as a giant leap forward in the right direction for Mankind's economic advancement..Yes some people will not like this coin or that coin but think about it ..All this is far better than being controlled by a few banksters and the Pharma Industry and corrupt Govts..Once we put it all into this perspective..NXT coin becomes a Saint coin .. Just my 2 nxt.. peace..

[cryptopaths]

Its not misunderstood even undervalued.

The IPO was a joke, too short and too much inside informations needed to join with more money, i understood well.

The early distribution was a trust holding all coins selling them hell expensive. I understood very well.

The market cap is not realistic because it contains almost coins which still were not traded yet any times. Just because artifical overvaluing. I understood very well.

I learned how the price works, 0.00010+ = trust selling 0.00006 and less = trust not selling = buy to sell at double price

I am hating NXT as much as possible, no misunderstanding or undervaluing, just logical reaction.

I think hate is a bit of a strong word here. Remember crypto currencies are a huge human experiment of this generation and I must applaud not only the NXT Devs but also all the BTC AND CRYPTO Devs who are like a smouldering pot of ingenuity and ideas. We must take this great Experiment, with its ups and downs and flaws as a giant leap forward in the right direction for Mankind's economic advancement..Yes some people will not like this coin or that coin but think about it ..All this is far better than being controlled by a few banksters and the Pharma Industry and corrupt Govts..Once we put it all into this perspective..NXT coin becomes a Saint coin .. Just my 2 nxt.. peace..

well put.

[hyunsookmom]

Its not misunderstood even undervalued.

The IPO was a joke, too short and too much inside informations needed to join with more money, i understood well.

The early distribution was a trust holding all coins selling them hell expensive. I understood very well.

The market cap is not realistic because it contains almost coins which still were not traded yet any times. Just because artifical overvaluing. I understood very well.

I learned how the price works, 0.00010+ = trust selling 0.00006 and less = trust not selling = buy to sell at double price

I am hating NXT as much as possible, no misunderstanding or undervaluing, just logical reaction.

Do you think that your focus on price moves and the missed opportunity of the IPO has made you irrational and upset about the actual NXT system and it's potential?

If iPhones were only given out to millionaires iPhones would still be a great innovation. It's important to separate the two things surely. Personally I missed out on the IPO and have yet to make much from NXT but I am convinced it will be many multiples higher than it is now. My belief is based on the idea that that people are gonna use it especially once certain functions are available like decentralised trading and colored coins.


I think if we are going to be critical of NXT we have to get over the IPO thing at look at the actual system. later adopters won't give a rats ass how the IPO went anyway...it's irrelevant at this point.


You said you hate it and it's over valued due to logic, ok what logic? I'm genuinely interested in your opinion. The issue I have is no one is having a serious discussion about NXT, people are either evangelical about it and the other side just says scam. People deserve a balanced debate on the merits of NXT and also it's flaws. As someone who wants to have a full understanding of new developments it's hard to get past oh it's a scam coin on one side and it's going to the moon on the other, it's tiresome. Calling stuff scam has become a way for people who don't understand something to sound like they know something it seems. You got to back it up with real facts about NXT not emotion of missed opportunities.

[MisO69]

These POS only coins are a slap in the miners face. I will never support them.

[hyunsookmom]

These POS only coins are a slap in the miners face. I will never support them.

So your logic is cryptocurrencies exist for miners rather than miners exist to serve cryptocurrencies? I want to call you out on that logic as senseless and based on pure emotion and self interest. I have had a massive interest in Cryptocurrencies for a while now but I just couldn't get my head around any meaningful mining due to lack of funds and tech knowledge to set up any meaningful rigs. So to me mining is not egalitarian as was the purpose but has become as unfair as any other form of distribution. Cause mining is simply a form of distribution that's all, your not really mining out of the ground you know.  


miners have had an unfair ability to get some new coins at stupidly low prices while the rest of us have to buy at multiples higher on exchanges. I'm sorry the tide might have changed and you lost you mining advantage but your not recognising that this is about producing a payment system not a miners pension scheme.

[extee]

miners believe they have a god given right to be in charge of the coin supply /and of collecting fees.
satoshi gave them that powerr cos he needed them in the PoW infrastructure to secure the network and carry out transactions, therefore the reward.
PoS eliminates the need for them....so miners will hate on any such coin.
it's their livelihood so they will hate on Nxt regardless of technology and features and call it a scam even if the product delivers exactly what it says on the tin.
most BTT miners do not understand crypto at all so any technical discussion is wasted on them...infact you often see them saying how mining is the pinnacle of decentralization....when infact mining is the only thing in bitcoin which is not actually decentralized lol.

BCnext was right. there is no way to distribute coins that is fair to everyone unless you give equal amounts of coins to each person in the world on release.
distributing them to miners (0.001% of worlds population) is not fair
distributing them to investors (1% of worlds population) is not fair
distributing equal amounts to bitcointalk accounts for just saying "intrested" is still not fair (i seen someone complain about this too...)

ther'll always be billions of ppl left out of the coin distribution process ready to say it was not not fair. and anyone who was left out will have a genuine reason to argue it wasn't fair.
Bcnext asked a total of 21 btc for his work....and with hindsight i can say it was a very fair asking price.
i didn't invest at the time cos i thought it would be a scam...but some did and got rightly rewarded for the huge risk they took. i think that was fair imo although I didn't personally benefit from it.
Nxt is a good and innovative crypto technology (imo better than bitcoin) but with an unmarketable name. that's how I see it.

[Findus]

The price is still only 5 times the price right after the IPO, so stop crying "it's not fair", and just buy now. I bought after the IPO, but am really glad I did buy at all.
I have stakes in many altcoins (LTC, XPM, NMC, CAT, DOGE, MEOW, UFO, Reddcoin, LOT, MMC, DATACoin), some to a higher extent than NXT, but NXT is by far the most promising. Check my post history, you won't see me advertising any other altcoin on this forum.

NXT brings several advantages, but the argument that strikes me the most, is what follows.
BTC is valuable because with its proof-of-work it solves a problem: the problem of double-spending in peer-to-peer decentralized digital currencies. Well NXT with its proof-of-stakes solves an other problem: the problem of progressive centralization of mining. This problem has only recently become apparent. It is due to the growing cost of a private mining operation. If the trends go on, the majority of mining will be performed by a handful of large mining operations. This decentralization is dangerous for the integrity of bitcoin. With NXT, you can mine with an old laptop, now and forever.

The reputation of NXT is tarnished by many myths, which are debunked in the FAQ http://wiki.nxtcrypto.org/wiki/FAQ
In this thread, you will see several big shots (>200 activity) vouching for NXT. But don't take anybody's word for it. Install the wallet, buy a few NXT and try playing around. If you don't want to buy NXT, post your address in this thread and I'll send you 1 or 2 NXT to get you started.

Now the main thing that is missing to NXT is being accepted by vendors. But it's still very early, so I'm hopeful.

[hvezdasmrti]

"The price is still only 5 times the price right after the IPO"

Same argument like "one apple in oppressive country costs in winter only 5 times more than in summer" Meanwhile the apple costs in winter 5.000USD instead of 1.000USD in summer.

[farl4web]

^^Yeah NXT isn't a mineable coin.

I'm just happy I never invested in it when it first became big and popular. I would have lost 50% of my money..

Huh? 

I stepped in a month after the first introduction at 0.00001300 BTC and after that it went to 0.00013000 BTC!! 1000% rise! Ok, now it is steady around 0.0008000 BTC. That is still al lot of profit!! 

I keep holding my NXT, there are a lot of great things coming which will rise the price only further! (such as a normal userfriendly client)

Nxt a scam… NO!
I have been very active on Nextcoin.org and it is surely not a scam. The cool part is that there many interesting projects realized all the time. For example: Peerexplorer.com, which gave me in a weekend 300 NXT for just running a node! I now bought 5 nodes extra!

[farl4web]

Turning the argument on Bitcoin, nobody seems to be moaning about the millions of coins owned by early adoptors of bitcoin. There is a statistic that suggests that the share of Nxtcoin is already fairer than Bitcoin.

The big thing for me is that the 51% attack problem disappears with Nxtcoin.  That is very important for scaling, because we are already seeing pools being able to fork bitcoin with their monopoly in mining.

Here is the infographic you mean?

http://nxtcoin.blogspot.nl/2014/01/nxt-distribution-infographics.html

[r0ach]

Hilarious that the original poster tries to compare Vertcoin and Tittiecoin.

Does that mean NXT is a 2nd generation rapecoin?

[Snail2]

We can't really call it undervalued. NXT practically still in beta, with very little real world ecosystem or exposure, so no one can tell a realistic value. The current value just a lot of opinions and based on the buyers/sellers feelings about "What's the loves/highest price what I want to get/pay for 1 NXT?".

Misunderstanding is a different animal. I don't think it's "highly misunderstood". The startup wasn't a very well orchestrated one, the distribution model also quite far from the familiar. In addition lots of people didn't realized that POS isn't something about equality and fraternity. All of this together caused lot's of high hopes initially and a deep disappointment later. But again, this is not misunderstanding, this is mostly inaccurate communication.
Certainly you have a few valid points on misunderstanding. The ignorance and greed, later the anger on the "latecomer" side, and the arrogance of some of the stakeholders was astonishing .

[elbill]

Nxt: Just a scamcoin ; I never buy or use something with an unfair beginning (or closed-source).

[RandomPleb]

Nxt: Just a scamcoin ; I never buy or use something with an unfair beginning (or closed-source).

What an appropriate post considering the title of the thread.

[instacalm]

Nxt: Just a scamcoin ; I never buy or use something with an unfair beginning (or closed-source).

Thank your for your competent opinion!