NXT VS NEM

[Daedelus]

In his own words...

So i hand over tons of BTC for a promise that i will get an unproven altcoin, that will probly be worth nothing?

Seems you didn't get the point.  Let me explain again...

1]  Nxt is 100% proof-of-stake currency.  Why?  Because this lets not to waste tons of electricity and protects against 51% attacks.
2]  Proof-of-stake means that users must own some coins.
3] How to generate coins?  Premine 100% and giveaway like Ripple?  No way.
4] Let's transfer tiny amounts of bitcoins to my address.  More you send, more you get.  Looks good to me.
5]  Why send coins to my own address, not some unspendable address?  I need a way to send the coins back, just in case.  Or fund development of services to promote Nxt, if the total amount happens to be decent.

I hope this explanation will help.

I can find the post where he says Peercoin is flawed and will improve on it if you like. He took the best ideas and merges them to create something great.

CfB commented that Transparent Forging is the only true innovation, the others were existing ideas. But then Nxt is the only one implmenting them successfully so I don't really see the merit in this line of stone throwing.

[atoni]

Hey Devphp! I thought I had an epiphany and that I finally found something innovative in NXT that is not shitcloned from other coins, but later I figured its false alarm. None the less, it brought me to brilliant idea and I finally know what atoni888Buy asset will do, so I am asking you to be my partner!

In my dream I thought that NXT distribution was actually innovative! I will create all coins then spread them to my 5 alts and start selling on exchange (I guess we all know who is BCNext simply by looking who responded to his messages first). But then when I woke up I figured, shit, he copied that too from Ripple (he must have really been in love with ripple since he ripped off almost all his ideas from them). So that lead me to disappointment, although by your logic how everyone builds some of his own, you can argue that involvement of 5 alts was his innovation (as ripple chose transparency in distribution), but I will disregard it since anonymity is big thing in crypto so its not really innovative to use alts.

But.....that lead me to brilliant idea!

Atoni888Buy asset will be used to promote innovation in NXT! We will collect 100 BTC on Asset Exchange and make 100 BTC bounty (that is 62k USD, quite nice bounty) to person that makes something in NXT that is not shitcloned from other coins!

What do you say?

I will be something like BCNext in this, I gave my name and cloned the idea of bounty, but it will actually produce something really good for Nexter community! I am sure they will all chip in to remove that stigma of nxt copying every other shit coin, and to finally have at least I from Innovation!

To show how serious I am, I will send 1000 nexter to you so that I am not involved in any financing (since people wouldnt trust me), and you will create the asset. That will be my donation to the project (beside name and idea, well idea is copied from general bounty idea but who cares).

Are you in?

[Daedelus]

Can you do a TL:DR version?

[devphp]

Are you in?

No, I don't do partnerships, especially with someone who has such shitty ideas Don't bother writing such long articles next time

[Brangdon]

Less than 70 vs at least a 1000. It is a huge difference.

I'm not sure initial distribution matters (and I'm even less sure it should). What we should be comparing is the distribution both currencies have on a given calendar day. So when NEM launches, it has a 1000 or so holders, and on the same day Nxt has 43,000 or so. How does that make NEM better?

I'm also not convinced that an initial wide distribution helps, especially if a lot of those people got their coins for free. Many of them will cash in immediately for free money, and many more will sit back and let other people make the currency worth something. You'll get a lot of bystander apathy. I admit, I'm doing this with other coin give-aways. Why not? Part of why Nxt has been successful is that the relatively few Nxt whales knew the onus was on them to make the currency a success.

We will se it in Volume and price stability after lunch.

It will be interesting.

I bet on NEM no such cappital conentration like in NXT

That would be amazing. Historically, wealth tends to concentrate. The Pareto Principle says that after enough time, 80% of the assets are owned by 20% of the people. I will be astonished if NEM somehow overcomes this aspect of human nature. More likely, even if NEM does have a "better" distribution at launch, it will quickly get worse, as some people dump for a quick profit while others, who have more faith in the coin, buy up. You're always going to get a mixture of rich and poor people.

[atoni]

Are you in?

No, I don't do partnerships, especially with someone who has such shitty ideas Don't bother writing such long articles next time

Shit, for moment I really felt important, I was like chief instigator of next innovation, or atoninext if you will

Anyway, despite your rejection I really like you and wish you all best with your investments! Good luck!

[devphp]

Anyway, despite your rejection I really like you and wish you all best with your investments! Good luck!

I can't say I like you, but still wish you all the best and good luck

[atoni]

Can you do a TL:DR version?

Sorry to inform you but my partner bailed out so the project is currently on hold

[Daedelus]

Can you do a TL:DR version?

Sorry to inform you but my partner bailed out so the project is currently on hold

Sorry for your loss but if you had a partner then why did you ask devphp to join you?

[atoni]

Can you do a TL:DR version?

Sorry to inform you but my partner bailed out so the project is currently on hold

Sorry for your loss but if you had a partner then why did you ask devphp to join you?

I hoped devphp would be my partner. But its ok, I am already over it. And maybe he changes his mind so we can together contribute for nexter innovation to finally start.

[Daedelus]

Can you do a TL:DR version?

Sorry to inform you but my partner bailed out so the project is currently on hold

Sorry for your loss but if you had a partner then why did you ask devphp to join you?

I hoped devphp would be my partner. But its ok, I am already over it. And maybe he changes his mind so we can together contribute for nexter innovation to finally start.

You don't make any sense when you post

[TaunSew]

I don't understand this sock obsession as NxT's preferred vehicle of FUD as it's a weak choice.  To match the power of a NxT whale, who acquired 5% of NxT for 1 BTC ($150 in October 2013), one would have to create 160 sockpuppets in NEM or 40 sockpuppets in NODE.

 Mind you nothing stopped someone from creating 3 NxT whales as there was no taint analysis.  So one would have to create 480 sockpuppets in NEM or 120 sockpuppets in NODE.

As for people "free loading".  If I really wanted to make a point, I could search through the NxT forum and pull quotations from senior members and developers about them complaining about multiple NxT whales who never contributed or logged in since 2013.  Handing over 5% of a coin to random people doesn't bode well, especially when they're just sitting there waiting to be made a billionaire and people on the NxT forum are complaining about a lack of funding.


The reality is both NEM and NODE went through extensive audits and no large sockmasters were ever found - the biggest sock masters only had around 5 socks and there weren't many of those.

Nobody abused sock creation back in January for what is a worthless coin.  Sure there were people who created 1-5 socks but relative to overall distribution these people have no influence or power compared to a NxT whale.


Two rights simply don't make a wrong here.  Repeating "omg sockpuppets" doesn't make it so, especially when NxT itself isn't immune to that argument and never mind any socks in NxT have a far more disproportional effect (like one guy could own easily own 20% of NxT just by spending 4 BTC back in 2013) than any socks in NEM or NODE.

[mr smith]

YAWN
this thread still going lol

[Daedelus]

YAWN
this thread still going lol

+1


While arguing who has the fairest distribution is fun  until we devise a way to get crypto into the hands of a significant number of people who won't dump it immediately, we're wasting our time. (Someone crudely says we are arguing over the winner of 'the tallest midget' competition here)

The fact is, if crypto takes off then we are all the 1% and we will have to listen to millions of people tell us how unfair the rise of crypto was as they weren't even aware it was happening.

So I also add my *yawn* to yaunSeW's tedious essays 

[TwinWinNerD]

It will be even *unfair* when millions of people have an account and funds.

Just think about it, in 100 years 95+% of the people living then are not alive today. Do you think they will be happy with the distribution today?

Well shit, you can't make something "fair".... Nothing is fair in the world, and 70, 3000, or 1 million. Everything is unfair, and using that as an argument is stupid, the only thing that matters is network effects and fact is that NXT has more active participants than NEM will have at start.

So stop blarring please and concetrate on making NEM a great coin.

[TaunSew]

It will be even *unfair* when millions of people have an account and funds.

Just think about it, in 100 years 95+% of the people living then are not alive today. Do you think they will be happy with the distribution today?

Well shit, you can't make something "fair".... Nothing is fair in the world, and 70, 3000, or 1 million. Everything is unfair, and using that as an argument is stupid, the only thing that matters is network effects and fact is that NXT has more active participants than NEM will have at start.

So stop blarring please and concetrate on making NEM a great coin.

No need for straw man arguments.  NEM's distribution was never about distributing something to all 7 billion people on the planet.

It's to ensure that the coin's distribution wasn't divided in a cronyism fashion and to ensure stability by preventing whales.  



If we take NxT's example - only 20 accounts invested the 1 BTC but we don't know who those 20 accounts are, it could just be 10 people and 6 of them are BCnext and/or his friends.  

[TwinWinNerD]

It will be even *unfair* when millions of people have an account and funds.

Just think about it, in 100 years 95+% of the people living then are not alive today. Do you think they will be happy with the distribution today?

Well shit, you can't make something "fair".... Nothing is fair in the world, and 70, 3000, or 1 million. Everything is unfair, and using that as an argument is stupid, the only thing that matters is network effects and fact is that NXT has more active participants than NEM will have at start.

So stop blarring please and concetrate on making NEM a great coin.

No need for straw man arguments.  NEM's distribution was never about distributing something to all 7 billion people on the planet.  If you're looking for a Communist Coin then Community Coin is for you (their coin is already a red background and you only need to change the suffix).

It's to ensure that the coin's distribution wasn't divided in a cronyism fashion and to ensure stability by preventing whales. 

 As NEM was distributed to almost 3000 stakeholders you can guaranteed that 99% have no connection with each other.



If we take NxT's example - only 20 accounts invested the 1 BTC but we don't know who those 20 accounts are, it could just be 10 people and 6 of them are BCnext and/or his friends.  Nobody wants to invest into a ponzi scheme or a get quick rich scheme.  The only reason BTC went so far was because the distribution model implies there was a vague democratic process in who received the BTC (that's the theory at least.  In practice, people like Satoshi took over a million BTC but that's almost never mentioned).

I always forget why I shouldn't argue with you.. You are always using semantics to make your argument and don't see the big picture that make your argument invalid all the time.

[TaunSew]

It will be even *unfair* when millions of people have an account and funds.

Just think about it, in 100 years 95+% of the people living then are not alive today. Do you think they will be happy with the distribution today?

Well shit, you can't make something "fair".... Nothing is fair in the world, and 70, 3000, or 1 million. Everything is unfair, and using that as an argument is stupid, the only thing that matters is network effects and fact is that NXT has more active participants than NEM will have at start.

So stop blarring please and concetrate on making NEM a great coin.

No need for straw man arguments.  NEM's distribution was never about distributing something to all 7 billion people on the planet.  If you're looking for a Communist Coin then Community Coin is for you (their coin is already a red background and you only need to change the suffix).

It's to ensure that the coin's distribution wasn't divided in a cronyism fashion and to ensure stability by preventing whales.  

 As NEM was distributed to almost 3000 stakeholders you can guaranteed that 99% have no connection with each other.



If we take NxT's example - only 20 accounts invested the 1 BTC but we don't know who those 20 accounts are, it could just be 10 people and 6 of them are BCnext and/or his friends.  Nobody wants to invest into a ponzi scheme or a get quick rich scheme.  The only reason BTC went so far was because the distribution model implies there was a vague democratic process in who received the BTC (that's the theory at least.  In practice, people like Satoshi took over a million BTC but that's almost never mentioned).

I always forget why I shouldn't argue with you.. You are always using semantics to make your argument and don't see the big picture that make your argument invalid all the time.

There's no equivocation in my argument.
Your retort with an ad nauseum and an accusation of semantic arguing is not a counterargument but a red herring.

You keep on spewing lies about NEM and clearly ignore that NxT has severe flaws.  If you don't like logic or choose to ignore it then let's look at the math.  NxT, before the public knew about it's terrible distribution, was $0.09.  NxT, after the public knew about the distribution and started planning forks, went down to $0.025 by April 2013.

NxT's main rhetoric is that it's innovative but at the same time it's flawed rhetoric as there are multiple coins as innovative as NxT and/or the mainstream user does not care about innovation beyond a marketing point (as people almost never use the complete functionality of their smartphones, computers or websites like Facebook).

[nutildah]

I always forget why I shouldn't argue with you.. You are always using semantics to make your argument and don't see the big picture that make your argument invalid all the time.

I think he's truly only interested in arguing.

[TwinWinNerD]

It will be even *unfair* when millions of people have an account and funds.

Just think about it, in 100 years 95+% of the people living then are not alive today. Do you think they will be happy with the distribution today?

Well shit, you can't make something "fair".... Nothing is fair in the world, and 70, 3000, or 1 million. Everything is unfair, and using that as an argument is stupid, the only thing that matters is network effects and fact is that NXT has more active participants than NEM will have at start.

So stop blarring please and concetrate on making NEM a great coin.

No need for straw man arguments.  NEM's distribution was never about distributing something to all 7 billion people on the planet.  If you're looking for a Communist Coin then Community Coin is for you (their coin is already a red background and you only need to change the suffix).

It's to ensure that the coin's distribution wasn't divided in a cronyism fashion and to ensure stability by preventing whales. 

 As NEM was distributed to almost 3000 stakeholders you can guaranteed that 99% have no connection with each other.



If we take NxT's example - only 20 accounts invested the 1 BTC but we don't know who those 20 accounts are, it could just be 10 people and 6 of them are BCnext and/or his friends.  Nobody wants to invest into a ponzi scheme or a get quick rich scheme.  The only reason BTC went so far was because the distribution model implies there was a vague democratic process in who received the BTC (that's the theory at least.  In practice, people like Satoshi took over a million BTC but that's almost never mentioned).

I always forget why I shouldn't argue with you.. You are always using semantics to make your argument and don't see the big picture that make your argument invalid all the time.

There's no equivocation in my argument.
Your retort with an ad nauseum and an accusation of semantic arguing is not a counterargument but a red herring.

*boy i'm fancy.. I am using big-boy words* (I bet you have a latin word for this response too!

You keep on spewing lies about NEM and clearly ignore that NxT has severe flaws.  If you don't like logic or choose to ignore it then let's look at the math.  NxT, before the public knew about it's terrible distribution, was $0.09.  NxT, after the public knew about the distribution and started planning forks, went down to $0.025 by April 2013.

Show one lie I spread about NEM. I am a NEM supporter and you are accusing the wrong person in your hate mongering.

NXT didn't exist in april 2013. Nevertheless, the public as you call it, knew the distribution all along, I have no idea where you are going with this... Also big chunk of the decline was due to the BTC price falling from 1200 to 450, go figure..

NxT's main rhetoric is that it's innovative but at the same time it's flawed rhetoric as there are multiple coins as innovative as NxT and/or the mainstream user does not care about innovation beyond a marketing point (as people almost never use the complete functionality of their smartphones, computers or websites like Facebook).

NXT isn't using any retorics, its users are. They are not paid to do that, nor represent they anyone but themself. They do it because they beleive what they say.

Also come on, show me one "launched" coin with as much innovation as NXT.