| Nxt | Blockchain Platform | Proof of Stake | Official

[Istanbul34]

User; barabbas

Has been ignored.

User; barabbas

Has been ignored.

Best post of the day.

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[pandaisftw]

Because it's a POS coin doesn't mean you can't think about securities against abuses, POS can be improved. At a point, maybe 1 millions coins stake, big stakeholders should not have more forging power, that's all. It would encourage wider distribution and average stakeholder to actually hope to forge something one day. At a point, counting on coin value itself, as for any crypto coin, should be enough combined to a decent forging rate, but not infinite rate ! Come on, 50 millons is insane !!! Not to mention it can be the same person with 3 accounts of 50 millions !

You can justify your system as long as you want because you're basically "sold to the cause" but nxt is highly corrupted in the actual state.

How is their forging rate infinite? In fact, it can be mathematically proven that every NXT provides the same ROI (or very close).

If you invest $1 and make 1% on it, are you seriously going to complain that you only made 1 cent off of a $1 investment?

How is NXT "highly corrupted"? Is there any proof that it is harmful for one person to hold 50mil (5%) NXT? Covering both possible answers: 1) Satoshi holds 15% of Bitcoins currently and 2) some bitcoin mining pools are way above 5% hashrate... Bitcoin has survived for 5 years now, so that doesn't seem to be a concern. So what other harmful effect is there?

Pandaisftw

[Ezravdb]

Barrabas is on my ignore list now haha, so if you guys can stop quoting him, thanks 

[ShroomsKit_Disgrace]

Man, maybe you miss this INCREDIBLE OPPORTUNITY due to all this troll talk and distribution discussion, but, You should check this, SILVER GIVEAWAY!!!:

https://bitcointalk.org/index.php?topic=608247

[Eadeqa]

Because it's a POS coin doesn't mean you can't think about securities against abuses, POS can be improved. At a point, maybe 1 millions coins stake, big stakeholders should not have more forging power, that's all. I

This is ongoing discussion. TF is will be implemented this summer and then we will know what the final "forging" power looks like.

It's not over yet. Nxt is still being developed, especially TF.

You can justify your system as long as you want because you're basically "sold to the cause" but nxt is highly corrupted in the actual state.

Dream on, buddy.

[barabbas]

Not only unfounded, non-existent. Because I haven accused you of such thing. At all. It may come as a shock to you but I don't accuse unless I have evidence. To my satisfaction. The people I accuse, specifically if you must know, are peddling an exchange -another one- and some sort of game-in-a-browser. You can easily identify both. And, again, none are you.

I call it as I see it. And will here and at any of those places/coins you mention if, and only if, they are running scams. As an anonymous handle I care about reputation and I won't use sock puppets -as so many of you do- nor change the account or the name. And if I make any mistakes and am proven wrong, I'll have no qualms not only admitting to it but apologizing for it.

Thank you for providing, again, the unnecessary link. Everyone here knows what scamming is. I most certainly do, semantics included or left aside. But since semantics seems to be of importance to you, let me be even more clear as to what I consider scammy and why I consider Next to be it: Anything that can be done here, without accountability, and that could never be done in the real world, for being illegal. Is that clear enough? If you need clarification, please don't hesitate to ask.

Your memory is short:

Actually, your answer is totally ridiculous and argumentative.

1.- Minimal as it is, BTC is a global phenomenon on which several -and growing- real life business are based. It has staying power proven through years of all kinds of attacks and manipulations and a clear path as to what it is, it represents and who the face of it is (The Bitcoin Foundation, with names and addresses, physical ones, as well and TAX IDs attached to it... none of which applies to NXT). Additionally, hundreds of independent organisms and enterprises do control who is mining and how much are they mining. So your point comparing NXT to BTC is utterly ridiculous, ok?

2.- You (who are you, by the way?) may have spoken to "some of these holders" or "Yoda" for all I care. It is argumentative and doesn't add any transparency to the conversation. Either put up or, kindly, shut up.

1. So, according to you, 4 years ago, you would have called Bitcoin a scam? If not, then come back in 4 years and we'll talk. (Btw, we have businesses starting up in NXT right now as we speak)

Additionally, hundreds of independent organisms and enterprises do control who is mining and how much are they mining. So your point comparing NXT to BTC is utterly ridiculous, ok?

Prove it. (In case you missed it, this example was to show how ridiculous your arguments were, you were asking me to prove something as equally ridiculous.)

2. It doesn't matter who I am, but I am one of those who are starting a business based on the NXT platform.

Who are you?

Pandaisftw

No, according to me 5 years ago Bitcoin was a new concept for a potentially revolutionary for of payment. And I would probably would not have thought much of it except for another anarchistic pipe dream. Now if I would have given it some deeper mind, I would have probably been a converted very quickly. But there was no money to be made in bitcoin. For years. So that, in and of itself, separates it completely from NXT whose main if not only purpose was, as clearly evidenced, to make a very few amount of people a lot of quick money. By design. Proven by facts and by it's "distribution". PROVEN.

2.- No, it really doesn't matter who you are. It is clear that it is another scammer whether your scheme is already posted or not.

Me? I just trade on these scams trying to avoid getting too burned and hoping to find Bitcoin version 2 -the evolution of Bitcoin, that will correct some or all of its obvious flaws. No matter much who I am, because I am not scamming people nor pretend to be an honest anonymous individual while taking other people's money.

Think of me as someone that will expose alt scams as he sees them. And run with it.

Funnily enough, your part of your definition of "scam" doesn't particularly make sense with blockchains. Every transaction is accountable and guaranteed by the protocol. So with that out of the way, it's now a question of legality, is this correct?

Pandaisftw

Well when you face the wrath of 4 or 5 active posters, it is hard to keep track. And, by the way, I don't know and wouldn't be surprised at all if your scheme is not YET posted at the AE. But, since it is not, I cannot assume that it will so, for that, for the time being, I apologize.

Well it does. With any ledger. As a matter of fact, much more so. But that is another subject and I don't want to go into it now (need for accountability, hence non-anonymous presence and the like). But in your somewhat narrow view, of course it'll come down to legality, correct.

As usual, it is much wider. For instance, I have a very severe problem with the fact that stealing is not only rampant but also accepted to the point of giving bragging rights and even the inevitables "he/she deserved it" or "that would teach him/her a lesson, so it is a favor" in cryptoland. You see I am convinced that digital currencies could be an enormous leap forward, through their real asset, the blockchains, for humanity. That progress is hindered only because Cryptoland is, in reality, Crooksville...

But, like I said, let's leave it at legality. And no, the way the IPO was conducted (not that IPOs in the real world are not fraudulent too, mind you) was simply not legal.

[CryptKeeper]

I have a question about forging:

To create an asset on the AE costs 1000 nxt. Where do these 1000 nxt go to?

Are they like normal tx fees and can they be forged?

[nutildah]

As far as the distribution problem is concerned, it seems to me like you can't really compare BTC to NXT because NXT was created all at once whereas BTC is still being created. Even though BTC mining itself is pretty concentrated and monopolized, other people have a fairer shot at obtaining "free" BTC, whereas the way things stand now, nobody has a shot at obtaining free NXT. (please don't bother mentioning faucets, I am aware of their existence).

Pretty much everything you stated is fine except for free btc. Both require an investment. You either buy Nxt or you buy mining equipment and pay electricity. In addition miners do break, pools occasionally fail to find a block and don't forget forks etc... I currently have a 50gh mining contract i purchased in December and i must say my money would have been better invested into Nxt than the btc mining roi.

But the fact remains: in order to get NXT, you have to buy them through pretty much one of 20 people. BTC can be acquired through many different means. So, if you're planning on getting NXT by buying NXT, you're directly benefiting a core group of people all the more. I'm not insinuating they might be untrustworthy, but you have to admit that if NXT takes off anywhere close to the magnitude that BTC achieved, this is going to be some massive responsibility on their part not to crash the market.

And since new bitcoin can still be mined, it isn't necessarily controlled in terms of how people can get it. Ego, it seems like the possibility of manipulation in NXT is extremely high, even higher than bitcoin.

I guess my next question is, if all NXT is currently already in existence, who is paying the forging fees? I realize there's a good chance this question has already been asked somewhere in this thread, so thank you in advance.

[Eadeqa]

I have a question about forging:

To create an asset on the AE costs 1000 nxt. Where do these 1000 nxt go to?

Are they like normal tx fees and can they be forged?

Yes, normal tx fees.

[Eadeqa]

But the fact remains: in order to get NXT, you have to buy them through pretty much one of 20 people.

Twenty?  It started with 73 but now 7 months later it dropped to 20 people? How did that happen?  Millions of Nxt were sold in the first month in December. Dgex exchange alone distributed 500 million Nxt. I am pretty sure it's not "20" people who are selling Nxt.

[Ezravdb]

Man, maybe you miss this INCREDIBLE OPPORTUNITY due to all this troll talk and distribution discussion, but, You should check this, SILVER GIVEAWAY!!!:

https://bitcointalk.org/index.php?topic=608247

BUMP THE GOOD STUFF

[martismartis]

I have a question about forging:

To create an asset on the AE costs 1000 nxt. Where do these 1000 nxt go to?

Are they like normal tx fees and can they be forged?

Yes, it is normal fee and goes to lucky forger.

[pandaisftw]

As usual, it is much wider. For instance, I have a very severe problem with the fact that stealing is not only rampant but also accepted to the point of giving bragging rights and even the inevitables "he/she deserved it" or "that would teach him/her a lesson, so it is a favor" in cryptoland. You see I am convinced that digital currencies could be an enormous leap forward, through their real asset, the blockchains, for humanity. That progress is hindered only because Cryptoland is, in reality, Crooksville...

You'll be glad to know that in the NXT community, we very actively discourage scammers. The people in this community are some of the most honest and intelligent people I have ever met online - partly because NXT attracts a different crowd, those who are interested in it's technological potential rather than short-term profits (ie. miners).

But, like I said, let's leave it at legality. And no, the way the IPO was conducted (not that IPOs in the real world are not fraudulent too, mind you) was simply not legal.

Well, we can agree here. But let me ask you this, how is legality correlated with scams? Something being a scam is the intent to trick someone into buying something without actually providing that something, not whether it is legal to do it or not.

And as far as I know, there are some ways to side-step the legality issues when it comes to "virtual tokens", so until there is a clear legal framework with how all this should work, this really is the wild west, but that doesn't automatically make everything a scam.

Pandaisftw

An aside: Legality also depends on the jurisdiction.

[allwelder]

Bank of canada define the decentralized e-money,including bitcoin, Litecoin, Peercoin, Ripple and Nxt.
http://www.bankofcanada.ca/wp-content/uploads/2014/04/Decentralize-E-Money.pdf

[LiQio]

...

And since new bitcoin can still be mined, it isn't necessarily controlled in terms of how people can get it. Ego, it seems like the possibility of manipulation in NXT is extremely high, even higher than bitcoin.

I guess my next question is, if all NXT is currently already in existence, who is paying the forging fees? I realize there's a good chance this question has already been asked somewhere in this thread, so thank you in advance.

can still be mined? Do you know how many thousand coins early adopters mined per week on a standard computer?...
there is absolutely no distribution benefit!

the transaction fees are the returns of the forgers.

bottom line: read the earlier NXT threads, this was all discussed over and over again.
NXT has a great community and POS is the way to go (IMO) - at the current price you can buy thousands of NXTs for way less than any decent mining hardware. It's your decision, but now is the year 2010 for NXT, and I know what I should have done in 2010...

[Ezravdb]

Bank of canada define the decentralized e-money,including bitcoin, Litecoin, Peercoin, Ripple and Nxt.
http://www.bankofcanada.ca/wp-content/uploads/2014/04/Decentralize-E-Money.pdf

Awesome!!

Recognized by the Bank of Canada along with Bitcoin Litecoin Peercoin and Ripple

[LiQio]

Bank of canada define the decentralized e-money,including bitcoin, Litecoin, Peercoin, Ripple and Nxt.
http://www.bankofcanada.ca/wp-content/uploads/2014/04/Decentralize-E-Money.pdf

Awesome!!

Recognized by the Bank of Canada along with Bitcoin Litecoin Peercoin and Ripple

Bank of Canada seems quite sophisticated, maybe they should change the order of the list in a next release 

Thanks for the link allwelder!

[pandaisftw]

Bank of canada define the decentralized e-money,including bitcoin, Litecoin, Peercoin, Ripple and Nxt.
http://www.bankofcanada.ca/wp-content/uploads/2014/04/Decentralize-E-Money.pdf

Awesome!!

Recognized by the Bank of Canada along with Bitcoin Litecoin Peercoin and Ripple

Very nice

[Daedelus]

Just caught up and missed all the fun 

[CryptKeeper]

I have a question about forging:

To create an asset on the AE costs 1000 nxt. Where do these 1000 nxt go to?

Are they like normal tx fees and can they be forged?

Yes, normal tx fees.

Thanks, good to know. Sent you some LOVE on the AE!