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habraken
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July 23, 2016, 07:57:35 AM |
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I never said differently. But that hardly changes the facts stated above.
The fact is that you don't know what present distribution looks like a couple of years later, we don't know how many people hold more than one of these accounts https://www.mynxt.info/accounts. Do you know how many whales were stubborn enough nót to cash out or switch to other crypto blockchains these years? Do you know exactly what BTC distribution is? Or any crypto distribution? If that's important to you, it's quite simple: don't invest if you expect a giant dump by large holders. Exactly the same goes for Bitcoin. Do you expect Nakamoto to one day crash the markets? Fact is that NXT has been in a 'bear market' for over 2 years, with some initial stakeholders continuously pushing the price down by selling their stakes. Fact is that some have donated millions to community projects. Fact is that anyone could have become a NXT millionaire at these prices, a fraction of a cent. So if you are afraid of future dumping, don't invest. In any crypto. Oh, more facts: there's no annual inflation with NXT like there is in many other cryptos, no new NXT coins are created. There's no venture capitalist ever demanding to see return on investment and extract millions from 'his' company, or sell it off. The intitial 'investment' was only 21 btc. There's no millions of USD available for devs to play around with, like with some many other platform that came after NXT and which are most of the time companies, following company (and state) rules. |
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martismartis
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July 23, 2016, 08:00:05 AM |
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^^^^
I never said differently. But that hardly changes the facts stated above.
Yes, we can state it as fact. So what? You can't change the history. BTW, there is 43K of account these days participating in snapshotting, so distribution improved a lot  But I was talking about your statement of: "I know the immense majority of the coins in existence, and 99% of those being forged, belong to the same small group of people?". Where did you get this 99% number? |
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barabbas
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July 23, 2016, 10:12:33 AM |
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I never said differently. But that hardly changes the facts stated above.
The fact is that you don't know what present distribution looks like a couple of years later, we don't know how many people hold more than one of these accounts https://www.mynxt.info/accounts. Do you know how many whales were stubborn enough nót to cash out or switch to other crypto blockchains these years? Do you know exactly what BTC distribution is? Or any crypto distribution? If that's important to you, it's quite simple: don't invest if you expect a giant dump by large holders. Exactly the same goes for Bitcoin. Do you expect Nakamoto to one day crash the markets? Fact is that NXT has been in a 'bear market' for over 2 years, with some initial stakeholders continuously pushing the price down by selling their stakes. Fact is that some have donated millions to community projects. Fact is that anyone could have become a NXT millionaire at these prices, a fraction of a cent. So if you are afraid of future dumping, don't invest. In any crypto. Oh, more facts: there's no annual inflation with NXT like there is in many other cryptos, no new NXT coins are created. There's no venture capitalist ever demanding to see return on investment and extract millions from 'his' company, or sell it off. The intitial 'investment' was only 21 btc. There's no millions of USD available for devs to play around with, like with some many other platform that came after NXT and which are most of the time companies, following company (and state) rules. I am going to disagree with the majority of your "facts" because they are not such. Not semantically and in all probability, neither in any other way. "Not knowing" in not a "fact" is a state or circumstance. And it doesn't deny the possibility, probability or certainty. It simply hides it. And we are talking NXT here, not BTC or any other crypto. It also isn't a "fact" that NXT has been in a bear market for over 2 years: In any case NXT has behaved in a similar way to many of its contemporary ALTS, including BTC. You want to call it a "bear market"? Be my guest. Others would have reasons to believe it isn't such but a search for its real value (use) and that there is a strong possibility that that value would end up being ZERO. No "fact", opinion. We haven't spoken here -yet- of my personal fears, what I am afraid or not of, or what should I do if I am in fact afraid. And definitely we don't know if there's any "fact" -or to what extent- in your affirmation that "some of the initial stakeholders continuously pushing the price down". We know one of the 72, maybe 2, sold their entire holdings. And very little else. I happen to agree with the statement in which many of those 72 have been and continue cashing in as much as they reasonably can to see the fruits of their initial very wise/lucky investment but, far from a "fact" it's just, at best, a more or less educated conclusion, nothing else. Thank you for the absolutely unnecessary advice, though. |
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barabbas
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July 23, 2016, 10:19:51 AM |
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^^^^
I never said differently. But that hardly changes the facts stated above.
Yes, we can state it as fact. So what? You can't change the history. BTW, there is 43K of account these days participating in snapshotting, so distribution improved a lot But I was talking about your statement of: "I know the immense majority of the coins in existence, and 99% of those being forged, belong to the same small group of people?". Where did you get this 99% number? the specific % is, obviously, impossible to know for certain and was offered as illustrative of the fact, that you know better than me, that the forging is some kind of lotto game in NXT in which the probabilities of forging increment exponentially with the amount of NXT forging. Giving that 70 at least, possibly 71 of the initial investors have not had the possibility of dumping not all but not even a small amount of their holdings in just over 2 years (not enough volume, sorry), it is evident that they still hold a gigantic amount of the initial distribution, in spite of those 43,000 accounts you mention, most of which were "play accounts", not real ones (and I guess you will be asking next how I know that, right?). Those amounts will achieve 99% -or more- of the forging in just the same way that, say 80% of the entries in a lottery would get 80% of the prizes... with time. In NXT case, since the probabilities of forging are incremental depending on the number of coins you have forging, the 99% probably, as I said, is conservative. You asked. |
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martismartis
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July 23, 2016, 10:34:42 AM |
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^^^^
I never said differently. But that hardly changes the facts stated above.
Yes, we can state it as fact. So what? You can't change the history. BTW, there is 43K of account these days participating in snapshotting, so distribution improved a lot But I was talking about your statement of: "I know the immense majority of the coins in existence, and 99% of those being forged, belong to the same small group of people?". Where did you get this 99% number? the specific % is, obviously, impossible to know for certain and was offered as illustrative of the fact, that you know better than me, that the forging is some kind of lotto game in NXT in which the probabilities of forging increment exponentially with the amount of NXT forging. Giving that 70 at least, possibly 71 of the initial investors have not had the possibility of dumping not all but not even a small amount of their holdings in just over 2 years (not enough volume, sorry), it is evident that they still hold a gigantic amount of the initial distribution, in spite of those 43,000 accounts you mention, most of which were "play accounts", not real ones (and I guess you will be asking next how I know that, right?). Those amounts will achieve 99% -or more- of the forging in just the same way that, say 80% of the entries in a lottery would get 80% of the prizes... with time. In NXT case, since the probabilities of forging are incremental depending on the number of coins you have forging, the 99% probably, as I said, is conservative. You asked. Sure, forging directly depends of amount of NXT in account, that's how POS works. Do you see any flaw in it or don't know how POS is working? Have you ever checked www.nxtportal.com for live monitoring who and how much forge? There is some statistics, where you can see, that the biggest forger with 50M stake forge only 16% of blocks. As for "play accounts": if they are included in snapshotting, then they are real created accounts with NXT>0 in them. How much are active? Nobody could say. |
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habraken
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July 23, 2016, 10:56:35 AM |
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Thank you for the absolutely unnecessary advice, though.
I understand you're not happy when someone sees through your sophisticated FUD attempts.  Of course you're not really interested in NXT, you're only interested in *your* facts. Dragging up that old stakeholders thing again, years later, is a good example. It's kind of obvious what you're trying to do here: fear, uncertainty and doubt. Again I say: if that *really* matters to you, just don't buy into NXT, and then GTFO. Why are you even in this thread? On the other hand, it's a good thing to see trolls visiting this thread again. It means things are going up! |
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VanBreuk
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July 23, 2016, 11:52:04 AM
Last edit: July 23, 2016, 06:16:56 PM by VanBreuk |
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no one cares if you guys make money or not .... (..) .... which is a very poor kind of attitude in general.
Sorry, my FUD meter almost exploded reading your post. For a moment I feel like reminding you that some people have jobs and families and cannot afford to work full time in projects that provide no income, or that -as we informed- MyNxt accounts have never been at risk (even accounts belonging to users who never did a wallet backup to use their account elsewhere), but I suppose it is better to encourage you to run a similar project yourself. Any community will welcome a fully committed operator/developer with skills who can invest time and resources freely anytime, is able to prevent any failures in the hoster end, data loss and other issues altogether, and fix them in a couple hours whenever they happen regardless of middlemen and the nature of the problem. If that's you, you should be contacting us in PM instead of wasting time complaining. |
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habraken
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July 23, 2016, 12:48:54 PM |
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Don't feed the obvious troll  |
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barabbas
Legendary
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Merit: 1000
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July 24, 2016, 02:53:32 AM |
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no one cares if you guys make money or not .... (..) .... which is a very poor kind of attitude in general.
Sorry, my FUD meter almost exploded reading your post. For a moment I feel like reminding you that some people have jobs and families and cannot afford to work full time in projects that provide no income, or that -as we informed- MyNxt accounts have never been at risk (even accounts belonging to users who never did a wallet backup to use their account elsewhere), but I suppose it is better to encourage you to run a similar project yourself. Any community will welcome a fully committed operator/developer with skills who can invest time and resources freely anytime, is able to prevent any failures in the hoster end, data loss and other issues altogether, and fix them in a couple hours whenever they happen regardless of middlemen and the nature of the problem. If that's you, you should be contacting us in PM instead of wasting time complaining. That is, obviously, not me. On both counts. But you have your own metrics as a recourse when straight answers don't seem to be available, right? Hey, it's your party... |
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Brangdon
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July 24, 2016, 12:32:10 PM |
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the specific % is, obviously, impossible to know for certain and was offered as illustrative of the fact, that you know better than me, that the forging is some kind of lotto game in NXT in which the probabilities of forging increment exponentially with the amount of NXT forging. The increase is effectively linear, not exponential. If you have twice as many NXT, you are twice as likely to forge the next block, not four times as likely. Giving that 70 at least, possibly 71 of the initial investors have not had the possibility of dumping not all but not even a small amount of their holdings in just over 2 years (not enough volume, sorry), it is evident that they still hold a gigantic amount of the initial distribution, in spite of those 43,000 accounts you mention, most of which were "play accounts", not real ones (and I guess you will be asking next how I know that, right?). Those amounts will achieve 99% -or more- of the forging in just the same way that, say 80% of the entries in a lottery would get 80% of the prizes... with time. In NXT case, since the probabilities of forging are incremental depending on the number of coins you have forging, the 99% probably, as I said, is conservative. The top 1,000 accounts have about 93% of the NXT. Most of them are small; only about 150 accounts have more than 100,000 NXT, and they account for 69% of the NXT. In NXT there's not much benefit to splitting accounts. Basically, I think your claim that 72 people own 99% of NXT is way off, but the real distribution still isn't very healthy. From https://nxtportal.org/monitor/ we can see that 62% of blocks are forged by just 20 accounts. (Arguably better than Bitcoin's mining pools, though. And some of those accounts are exchanges, and some are leased pools, so the NXT are actually owned by diverse people.) You can get the top balances by entering "select *, BALANCE / 100000000 as NXT from account where latest = true order by balance desc limit 1000" into http://localhost:7876/dbshell. I've had 1,000 NXT in my wallet for a few days now, but I'm still not forging. All my deposits have over 1,440 confirmations - what gives? Thanks in advance for any help You should be aware that something like 400,000,000 NXT are forging, so with 1,000 NXT your chance of getting the next block is 1 in 400,000. So you should average 1 block every 278 days. I'm sorry, but 1,000 NXT isn't very much. You need around 300,000 NXT to average one block a day. |
Bitcoin: 1BrangfWu2YGJ8W6xNM7u66K4YNj2mie3t Nxt: NXT-XZQ9-GRW7-7STD-ES4DB
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wolffang
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July 25, 2016, 09:03:23 AM |
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The snapshots for #Ardor stop in 11 weeks. What is the average amount of $ARDR you have? Get more #NXT and #stake!
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farl4web
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July 25, 2016, 06:07:11 PM |
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