Next coin is highly misunderstood and undervalued on this forum.

[RandomPleb]

There's a reason coins like Peercoin didn't go for 100% initial distribution: because it's completely retarded.

Exactly.  Hybrid PoW/PoS is actually legitimate.  A 100% IPO PoS coin is just a money grab scam.  There's absolutely no reason whatsoever to use the latter.

Actually, bypassing the need for mining is reason enough. I would agree however that NXT's IPO was very poorly implemented and didn't need to involve money at all.

[timmyd]

NXT guy:  how do you address my premise that IPOs don't actually need to exist to create a 100% proof of stake coin, therefore, NXT was just a money grab.

https://bitcointalk.org/index.php?topic=443196.0

and how would u do this fairly. Because even spreading your coins out between btt users is not really fair for a potential global monetary system is it? Few thousand btt users vs 7billion peeps who never even new of your distribution?
And if you gave your intial stakes away for free how do u stop multi acc sign ups.

[timmyd]

how many original miners mined btc at the beginning and gained thousands of btc? The old unfair ipo statement is no longer a valid comment. Yawn. Heck i guarantee ull regret turning your nose up at nxt within the NXT months. haha
Nearly every other alt coin that appears is essentially premined before hitting the exchanges so whats your problem with nxt at least we had 71 peeps instead of one guy minning shit coins with an asic. 
Im probally not gonna change ur mind but hey im not bothered your missing ou not me. Just wait and see when btc and alts cease to exist anymore due to only handling 7 transactions per second. Nxt will be blitzing 1000 transactions per second. Boom visa/mastercard terrority. Thats why NXT will succeed. Have fun minning dead coins bro

To be fair to BTC, the 7 transactions per second limit is an artificial limit that can be raised.

"Can be" will be? Just like coloured coins can be added? Btc is old and dated dude old technology now. Granted nxt needed bitcoin to exist. But the whole "dirty" way of generating blocks is just awful and then theres the whole 51% attacks. Nxt is resilliant to 90% attacks. Its time for a new generation of crypto to take the reins. Dont get me wrong i dont dislike bitcoin its just ultimatley flawed. Nxt fills the nxt spot. I mean have you seen the nxt nodes running on a solar powered rasberry pi? Times are changing. Change with them or get left behind. Again im not pushing nxt on u completley upto yourself. But dont just read a scam comment about ipo and leave it at tht. Give nxt an hour while ur waiting on btc confirms to learn a bit more.

Umm... speaking as a sizeable NXT stakeholder you are preaching to the converted. My comment was intended to be a balanced view, as the Bitcoin protocol is open to modification too. Everything else in your tirade just goes to prove that you lack objectivity, and really shouldn't be seen in a thread intended to promote understanding of NXT.

umm my objective is to get people from shouting scam with no ammo and actually look into NXT a little bit rather than joining the linch mob that scream scam because they cant create a fair way to distribute a 100% pos currency.

[achillez]

she be sinking - grab your lifeboats, your kitty cats... oh and your dogecoin!! They are all going down!

Ok now back to work

[nwbitcoin]

where u do you get scam from? NXT is not a scam coin it has never been a scam coin.

Maybe it is not a scam, that might be true. But it's definitely a bullshit coin.

Cryptocurrencies have always tried to solve the initial-distribution-problem in different ways, mining being a rather elegant one - it goes over a long period of time and in an as-fair-as-possible way, so everybody has a chance to participate.

Open your eyes and you'll see this isn't actually true anymore.

If I want to start mining Bitcoin, I need to invest at least $1000 for a mining rig, and if I'm lucky, I might just mine enough coins to get my money back in 6 months. The only way you'll get any profit is to then sell your bitcoin miner to another newbie! If I decide to keep my mining rig, it will slowly become less and less efficient - while still burning the same amount of electric - which is always getting more expensive.

Within 5 years, there will only be a very small handful of very rich people mining Bitcoin, and with it becomes the huge danger of miners taking the role of central bankers of bitcoin - exactly what bitcoin was set up to avoid!

The Nxtcoin alternative is that I take that $1000 and buy the coins.  Besides the price inflation, I will also get a percentage as I hold them.  I also gain the more people use the coins at the number of transaction fees increase.  The fact that some people have a million coins, and other have 1000 is just life. 
There is also no chance that if someone decides to buy most of the netcoins, that they get more influence - that can't happen by design!

So, unlike bitcoin, everyone gets a fair share of the transaction fees - surely, that is worth investing in the coin alone?

[Isildur23]

she be sinking - grab your lifeboats, your kitty cats... oh and your dogecoin!! They are all going down!

Ok now back to work

People keep saying that for months, but Nxt keeps going up...


p.s. and btw new features are coming very soon

[extee]

There's a reason coins like Peercoin didn't go for 100% initial distribution: because it's completely retarded.

Exactly.  Hybrid PoW/PoS is actually legitimate.  A 100% IPO PoS coin is just a money grab scam.  There's absolutely no reason whatsoever to use the latter.

wrong. as a former peercoin supporter  I can tell you that PoW was not introduced cos it is fair to give the coins to asic miners ( i can think of a million fairer ways to give coins out lol) ....but cos it needed PoW to secure the network especially in its early stages. why do u think it has been all checkpointed? the PoS algo of PPC was not robust enough to last a week if it started out as 100% PoS. i still like peercoin but its asic mining is everything but an example of fairness in distribution. it excludes just about 7 billion ppl in this world lol.

Nxt has been the first 100% PoS . the first to prove that a cryptocurrency can support itself without any mining/hashing (and believe me it withstood some insane ddos attacks) . only for this it deserves respect....from a technology point of view Bcnext deserves the 21 btc he got for it. and you call that money grabbing? it's nothing compared to the money grabbing i see from some of other developers who just copy&paste bitcoin or all the miners who just watch machines burn electricity and then pump and dump on an exchange (and i did this for an year so I  have a  clue of what i'm talking about).  ProofOfinvesting is a more legitimate ProofOfwork imo. (as i consider good investors a more worthwhile category than miners). if the IPo is conducted transaparently I'm all in favour for it isneatd of PoW.

btw mining is not even decentralized in bitcoin (not yet anyway) or any other current PoW...so miners/ mining coporations have become your central issuers right there.
but that is ok with you to be "the closest to the money supply and who benefits the most."
i prefer to support the developers than the miners.that is for sure.  and it is even more fair imo.

and may I remind you that satoshi released bitcoin on an underground crypto mailing list and for months only 20 people mined it (including satoshi who mined a ton)....and only after an year he started adevertising it on gaming forums ......basically once he and his friends from the mailing list had mined enough to secure a big stake in their venture they unleashed it to the wolrd, again everything but "fair".

there is simply no fair way to distribute coins unless you make a global announcement and give equal mining equipment or equal stakes to everyone in the world on date of release.
probably only the NWO would be able to organize something like that....and good luck with their fairness lol.

i think the distribution of Nxt was more than fair...he distributed the coins to those who helped him make Nxt a reality (the investors who paid his bills ).
in his protocol miners would have been of no help...so why reward them? there's no point. why reward you? for what? entitlement? fairness?
satoshi needed miners to secure the network and conduct transactions, Bcnext didn't need them as with his algo the stakes themselfs act as "miners"..
..and bitcointalk miners went up in arms and started spamming the forums and calling it a scam. when the real big scam in crypto is infact mining.
 

[toknormal]

I am a NxT holder and also have held a load of alts at one time or another.

The difference I find with NxT just when I start thinking it's maybe going nowhere, some very constructive, creative and well implemented new development comes along. And I'm talking about "real" stuff, like new clients with new features, new block explorers which demonstrate features of the NxT network I didn't even know existed, exchanges popping up out of nowhere dedicated to the coin etc.

All the other coins I held had none of this. You'd be lucky if you got 1 client with 1 bugfix a week and 1 developer working on the coin algorithm.

NxT on the other hand seems to have a good compliment of clever, dedicated and hard working developers across the feature set. Like for example Wesley's Mac client.. http://nxtra.org/mac/  It's not even an official client but it just blew me away cos I thought the support for my platform was crap and suddenly this appeared out of the blue.

The NxT protocol and network also seem incredibly promising. There is stuff I don't like - like the unweildy password system that is makes security very inconsistent - but hey there's things that gripe me about my own family !

All those moaning about IPO and distribution - save your breaths. It's history. And anyway, you can still get hold of a good whack of NxT for only 1 Btc or less so the "scam" tag is just nonsense.

This is THE alternative coin at the moment. It's just so different from Bitcoin and in a good way for the most part. Regardless of what label gets stuck on it or what B.S. gets thrown at it from miners with their noses out of joint, this coin is going places if for no other reason than the fact that it seems to have an army of development personnel putting substantial effort into pushing the boundaries of cryptocurrency technology forward. It also has a very constructive, informed and cordial investor community if the forums are anything to go by.

[Wipeout2097]

Keep pumping guys!

[Findus]

Keep pumping guys!

Keep shouting scam for every asset you do not own!
How about an argument?

[Wipeout2097]

Keep pumping guys!

Keep shouting scam for every asset you do not own!
How about an argument?

Very well.

This is the Nxt account ID that I just set up: 2176640326316778890

It is for a cousin I have in Angola, who does not speak English and only recently has Internet there. He was here during Christmas and I made him become interested in Bitcoin and other crypto-currencies. Since he can't mine, I'd like him to participate in the initial IPO that was announced here on Bitcointalk.

[Findus]

Keep pumping guys!

Keep shouting scam for every asset you do not own!
How about an argument?

Very well.

This is the Nxt account ID that I just set up: 2176640326316778890

It is for a cousin I have in Angola, which does not speak English and only recently has Internet there. He was here during Christmas and I made him become interested in Bitcoin and other crypto-currencies. Since he can't mine, I'd like him to participate in the initial IPO that was announced here on Bitcointalk.

I'll send him 5 NXT when I go home, in eight hours (not now because I'm at work with a strong firewall). I'm not a big shareholder so 5 NXT is a significant donation for me. But please tell me if it's not really for your cousin in Angola, I don't want to send my money to somebody who is already rich.

[Wipeout2097]

Keep pumping guys!

Keep shouting scam for every asset you do not own!
How about an argument?

Very well.

This is the Nxt account ID that I just set up: 2176640326316778890

It is for a cousin I have in Angola, which does not speak English and only recently has Internet there. He was here during Christmas and I made him become interested in Bitcoin and other crypto-currencies. Since he can't mine, I'd like him to participate in the initial IPO that was announced here on Bitcointalk.

I'll send him 5 NXT when I go home, in eight hours (not now because I'm at work with a strong firewall). I'm not a big shareholder so 5 NXT is a significant donation for me. But please tell me if it's not really for your cousin in Angola, I don't want to send my money to somebody who is already rich.

You misunderstand.

The man may be uneducated but is not poor, so fortunately he does not really need a donation, neither I'm here asking for money. What I'm saying is that the initial IPO announced in English in this forum was out of his reach. He had the right to be part of it. I guess Nxt would have been ideal for his situation and the enthusiasm I managed to induce him.

That's only an example of what is wrong with Nxt. A technically innovative alt like Nxt deserved to be better thought out, instead of being bootstraped as an obscure, to say the least, IPO.

That said, I'm an imbecile for wasting my time dissing a coin. I couldn't care less. Good luck with your pump.

[Findus]

You misunderstand.

The man may be uneducated but is not poor, so fortunately he does not really need a donation, neither I'm here asking for money. What I'm saying is that the initial IPO announced in English in this forum was out of his reach. He had the right to be part of it. I guess Nxt would have been ideal for his situation and the enthusiasm I managed to induce him.

That's only an example of what is wrong with Nxt. A technically innovative alt like Nxt deserved to be better thought out, instead of being bootstraped as an obscure, to say the least, IPO.

That said, I'm an imbecile for wasting my time dissing a coin. I couldn't care less. Good luck with your pump.

Oh I see. OK that's a point (finally!). But you can't expect any coin to be distributed to the 7 billion humans. Any coin will start with a handful of people even if you make an announcement for one year on many websites in 10 languages. The handful may be 2 or 5 (like BTC), 70 (like NXT), 1000 (if you're very lucky), but in any case a negligible number compared to 7 billion. Just like BTC there will always be people whining that they were not invited to the very first party, and people like me who welcome the opportunity to join the 12th party. My point is that we still are at the birth of the coin, so your cousin still has enough time to learn english and get on board. BTW I'm not native English either.

[toknormal]

That's only an example of what is wrong with Nxt. A technically innovative alt like Nxt deserved to be better thought out, instead of being bootstraped as an obscure, to say the least, IPO.

Nobody had a "right" to be part of the NxT IPO.

The coin was the developer's initiative, not the community's. So therefore they don't have a "right" to anything. The developer made an investment opportunity available to enable him to carry out the necessary work to get the coin off the ground,

Most people didn't avail themselves of that opportunity. Even, of the people who SAW the IPO announcement didn't invest because they didn't want the risk. Despite that, his initiative worked. He got some working capital raised, got the coin developed and launched and since then things have moved forward promisingly with most stated objectives being reached in a reasonable amount of time.

Also, despite that, there is STILL plenty of time for people to invest. The coin's still in beta and the price is low. You can pick up around 12500 NxT for only 1 BTC. So stop bleating people and get in now if you're interested in this technology. In a year this period will look like the IPO looks to us now.

[whoiis]

ipo was ran like a scam -> scam coin

[xchrix]

always the same arguments just be happy about new technology and how it could help us all in our daily lives.
damn some people made a lot of money. yes. but walltstreet people make also a lot of money. do you hate them all because they make more money than you? its not their vault if you make less. its your fault! be happy for everybody lives free and make the best out of NXT

[toknormal]

ipo was ran like a scam -> scam coin

Ah ! I the wailing of sour grapes and the clatter of toys being thrown out of the pram. It's catching on 

Be advised that nobody was scammed out of anything. Nobody was denied anything they were owed, markets have not been "manipulated" and nobody's been sold anything that did not fit the description on the tin, nor does it seem likely that they will be in the future with this coin.

In fact, if anything, those that bought in early have had a great deal. Those that buy in now are also getting a great deal - just not as good a deal as those that took big risks at the start by buying into something they had never seen.

If the prospect of a big holder "dumping" on the market later on has your knees knocking and your teeth chattering so hard that you need to wear a garlic necklace just to trade, then off you go and find a stock that doesn't run that risk. (When you've found it, make sure come back and tell us first).

It doesn't bother me. What you need to be scared of is not big holders but duff technology. If the technology is good and has a future then big holders are just doing people a favour by dumping. There will be a dip in the price and it will then float back to normal.

In case you hadn't noticed, it's not exactly a rare occurrence in the world of cryptocurrencies.

[stylin]

Nxt is promising but what's to stop others from making a 100% PoS coin with more people in the IPO? That's my problem with Nxt, is that there are bound to be other clones in the future except with a more distributed IPO, people would look at these coins as fairer and flock to them.

[Isildur23]

ipo was ran like a scam -> scam coin

Thank you for your competent opinion
Average Joe thinks "BTC ran like a Ponzi scheme -> Ponzi coin!"
You think bitcoinmagazine writes about a scam coin just like that ? --> http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/