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Author Topic: Sorry NXT, but is anyone else making a 100% PoS / No-mining altcoin?  (Read 1391 times)
virtualfaqs
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March 21, 2014, 09:04:07 AM
 #1

I'm good with a NXT clone with a different kind of distribution. Read suggestions of a PoW then changing into PoS.

Thanks. Grin


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March 21, 2014, 09:38:33 AM
 #2

2 years ago similar user:

I'm good with a BTC clone with no loaded early adopters. Read suggestions of a Script-SHA-whatever mining algorithm.

Thanks.  Grin
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March 21, 2014, 09:40:58 AM
 #3

NXT is the bitcoin of PoS cryptocurrencies. You can be an early adopter and buy now at a few cents, or wait and buy later at $1+. You can clone it, but you can't clone infrastructure/network/websites. Same goes for Bitcoin, it's ahead of altcoins, because they can clone the code, but can't clone infrastructure.
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March 21, 2014, 10:00:50 AM
 #4

NXT is the bitcoin of PoS cryptocurrencies. You can be an early adopter and buy now at a few cents, or wait and buy later at $1+. You can clone it, but you can't clone infrastructure/network/websites. Same goes for Bitcoin, it's ahead of altcoins, because they can clone the code, but can't clone infrastructure.

That's true, but it also appears the controversial distribution pushed away a significant number of users. I'd just like to see if someone else can come up with another way to distribute. I'll probably invest in both. I like this 100% PoS idea.  Grin

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March 21, 2014, 10:09:46 AM
 #5

That's true, but it also appears the controversial distribution pushed away a significant number of users. I'd just like to see if someone else can come up with another way to distribute. I'll probably invest in both. I like this 100% PoS idea.  Grin

You can never have a fair distribution, because some people will always be late to the party Smiley I bought some at the exchanges and think it's still cheap. If you look at bitcoin/litecoin/dogecoin distribution, they are no fairer, and now that there are Scrypt ASICs, coins will go to whoever has more dough to buy that hardware. There is no such thing as 'fair' when money is involved. Just get over it and buy some or regret not buying later Smiley
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March 21, 2014, 10:31:35 AM
 #6

The number of people who have a legitimate complaint about the Nxt distribution is in the single digits. Those are the people who wanted to invest but didn't get a chance because investment closed earlier than originally announced. The initial investment period was actually open for quite a long time and the developer got sick of waiting. All the other FUD you see about Nxt is from miners who don't like anything they can't mine, and competitors trying to pile on. I would suggest that anyone who overlooked Nxt originally should take a second look and decide for themselves.
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March 21, 2014, 10:35:26 AM
 #7

Mint will be a pure 100% POS coin after the first 5 weeks of mining.
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March 21, 2014, 11:02:31 AM
Last edit: March 21, 2014, 11:14:18 AM by Wipeout2097
 #8

The number of people who have a legitimate complaint about the Nxt distribution is in the single digits. Those are the people who wanted to invest but didn't get a chance because investment closed earlier than originally announced. The initial investment period was actually open for quite a long time and the developer got sick of waiting. All the other FUD you see about Nxt is from miners who don't like anything they can't mine, and competitors trying to pile on. I would suggest that anyone who overlooked Nxt originally should take a second look and decide for themselves.
This is nonsense.

As a miner, I have the same "issues" Roll Eyes with Nxt as I have with the lots of PoW/PoS coins that are on the mostly PoS stage, also with Nem and plenty other Nxt descendents and forks that are coming.

For example, Hobonickels. tokyoghetto's investment journal thread, beats everything the army of Nxt shills have spammed this forum with. An intelligent, experienced way to make profit without being at the expense of others. Investors like these do not have the need to sacrifice a bit of their ethics and moral to make well. That's PoS right there, large stake a year in HBN.

The part in bold is the difference. This is precisely why I like PoS well done. When I paid attention to HBN I got some as experimentalism, but even if I didn't, I'd be glad to see the scene grow intelligently even a bit and indirectly at my expense (a bit less GPU mining profit, proportional to my hashrate). I don't mind to sacrifice a bit of my self-interest for an huge greater good.

Otoh... Nxt. Nxt large holders are a risk for buyers. One who buys can and will find himself of the wrong side of dumps, 70+ of them. When each one decides to dump, they leave someone or many holding the bag. I'm pretty sure I will only consider to get some Nxt after a few of such dumps happen. Only then one can measure the effect on the market.


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I N D X
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March 21, 2014, 11:12:06 AM
 #9

 Limited initial distribution is not evil at all.
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March 21, 2014, 11:32:31 AM
 #10

I'm good with a NXT clone with a different kind of distribution. Read suggestions of a PoW then changing into PoS.

Thanks. Grin


I know only 2 pure POS coins now. BC and NXT.

For me we have winner BC winner this round. 1st coin who switched to pure POS after POW
BC is like BTC with POS system inside.
-0,000% premine
-PURE POS after minig not POW/POS like PPC/Nova/Mint/Zeit/BCX.... //BTW Mint have POS 99,99% distribution but technically is still hybrid POW/POS
-10 days of mining but now when i look at that GPU farms +200Mhs... on pools and ASICs - i am even happy that BC was mined in just 10 days.
-Minus for BC is that because of no premine community have to donate to move forward

NXT:
BIG PLUS  development +
BIG Minus distribution NXT was distributed to 72 people at beginning...
with such market share Developers of NXT can allow them selves to full time working on NXT.
And pay themselves from fees.
BIG Minus 1 NXT fee... i real life if 1 NXT cost 20$ what you can buy with NXT ?... when fee is fixed at 1NXT...

In future mayby :
NEM - new alt fair shares 5%-10% for Devs rest for 3000+ IPOs... IPO are taking most risk now.

there was NXT clone with fair shares for all including Devs, i don't remember name of that coin.



omo
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March 21, 2014, 12:30:26 PM
 #11

NEM is good for you Grin

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March 21, 2014, 12:36:00 PM
 #12

Check out ECC and MINT. BC is a conspiracy so maybe buy in after the dump.
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March 21, 2014, 12:46:56 PM
 #13

If NXT delivers on it's promises then it will skyrocket. Worth a punt in my opinion.
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March 21, 2014, 01:05:29 PM
 #14

nxt has a huge advantage and a ton of people and innovation behind it, but if it fails NEM will be there to pick up and adapt.  Those are really the only two POS I am looking at right now.  Too bad both of their IPO's are closed.  The third system which isn't exactly PoS, but completely and totally different is Ethereum. 

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March 21, 2014, 02:16:11 PM
 #15

You can't get away from the risk when buying NXT that you will be dumped on by the early adopters ... the distribution was way too skewed everyone knows this.  And dont think you can 'forge' your coins, I held xx,xxx and didnt earn anything.

Not saying NXT cant rise, but it leaves a bad taste in your mouth. Plus the clunky java web client is not fun to experience.

You can look at Mintcoin, Blackcoin, or NEM when it comes out ... 

NEM   NanoWallet   SuperNodes   Apostille   Landstead   Catapult   Mijin
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March 21, 2014, 06:57:55 PM
 #16

Thanks for the advice everyone.  Smiley

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March 21, 2014, 07:45:39 PM
 #17

You can't get away from the risk when buying NXT that you will be dumped on by the early adopters ... the distribution was way too skewed everyone knows this.  And dont think you can 'forge' your coins, I held xx,xxx and didnt earn anything.

Not saying NXT cant rise, but it leaves a bad taste in your mouth. Plus the clunky java web client is not fun to experience.

You can look at Mintcoin, Blackcoin, or NEM when it comes out ... 

When is NEM coming out?
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March 21, 2014, 08:54:23 PM
 #18

Check out ECC and MINT. BC is a conspiracy so maybe buy in after the dump.
What's BC conspiracy? Also can someone explain how the every 8 hours compound interest work? Does my BC client have to be on once every 8 hours? Or continuously?

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March 21, 2014, 10:36:33 PM
 #19

Check out ECC and MINT. BC is a conspiracy so maybe buy in after the dump.
What's BC conspiracy? Also can someone explain how the every 8 hours compound interest work? Does my BC client have to be on once every 8 hours? Or continuously?
IMO when you can't find some serious arguments to hit competitor just best way is spared FUDs...

Eg like that with Quark 98% premine / Bug in BTC protocool (MTGox).

I am in BC form beginning i can't see any conspiracy there...
Rather people are working hard to make forward 0%premine coin and this is hardest part of that "conspiracy"...

______________________

8 hours compound interest work?

To support network and reward you you have chance to get earlier reward than 1%  at the end of year.
Once you don't touch balance for 8h your coins are getting chance for stack.
Receiving stack earlier you have only by heaving online wallet unlocked or not password protected.
You get part of 1% annual interest. Everyday eg when you have 50k BC you will get ~0,05 in 3-4-6h intervals.
More days you wait more coins you will get.
There is no max age for coin. So you can get 2% after opening wallet after 2 years.

Chance of getting stack is connected with weights more days your coin is sitting in wallet?

Yes it looks it works that way.You has chance you will be chosen to stack.
Chance/weight depends on how many you have, how much wait  - to balance system.
I will try find formula later i forgot it was written on forum.


Does my BC client have to be on once every 8 hours? Or continuously?
To get  compound interest you need to be online this feature is for POS miners supporting network.
To get only 1% interest you don't have to.

To get 1%,2%,3% annual you just go online once a year or 2 or 3 years...
But you will get 1%(after 1 year)-2%(after 2 years)-3%(after 3 years) from starting amount when you go again online. / There is no max age.
If you hit stake more often you get more BC overall.
Not big amounts of BC but always something.
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March 21, 2014, 11:12:24 PM
 #20

Try mining Nxt, I've done it for the last 3 days and have earned 1500Nxt. 

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