| Nxt | Blockchain Platform | Proof of Stake | Official

[DrearyUrbanite]

I've only looked into NXT for a short period but as I see it, the 75 initial "shareholders" are being way too stingy.  If you want adoption, you need to get coin out reasonably easily, a fair amount (not some piddly 2-4 NXT), and quickly.  

NXT are so cheap it's not funny. One of the main contenders to bitcoin - market cap of 5.5 billion - has a market cap of 22 MILLION).

Do the math. If NXT got to a market cap of 5 billion, each NXT would be worth $5 USD, and they cost about 2 cents today.

I'm a new comer to crypto, and maybe I'm missing something, but I'm not waiting for a freebie give away to get 500 NXT.

I'm spending $1000 USD and buying 50K NXT. If NXT is as good as what I've been reading lately that $1000 investment might be worth 250k USD (assuming NXT marketcap similar to bitcoin) sometime soon. That's a good bet in my mind.

I don't want to miss this one, and I'm not expecting a handout any time soon, but I can buy NXT for 2 cents on bter or dgex right now.

The 75 initial stakeholders might be stingy but that doesn't stop NXT being a good bet right now.

Good plan! Personally I don't think the initial stakeholders are being stingy. They are mostly who is making NXT available for 2 cents each. That's pretty cheap in my book for something I expect to soon be worth $1, or $10, or $100 in the next couple of years.

[1713869136]

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[1713869136]

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[bluemeanie1]

Ok, I just sent you each 502.

CurbsideProphet, be sure to send one NXT out of your account in order to generate a public key and make it more secure.

I don't have a huge investment here, so these contributions are meaningful amounts for me. Don't worry about paying me back. Just say good things about me (even if you have to make stuff up), and help Nxt succeed, and that's payment enough.

should I have received them by now?  -bm

[sparta_cuss]

Ok, I just sent you each 502.

CurbsideProphet, be sure to send one NXT out of your account in order to generate a public key and make it more secure.

I don't have a huge investment here, so these contributions are meaningful amounts for me. Don't worry about paying me back. Just say good things about me (even if you have to make stuff up), and help Nxt succeed, and that's payment enough.

should I have received them by now?  -bm

I just checked the block explorer and they are in the address you posted. Are you not seeing them in your client?

[CurbsideProphet]

I've only looked into NXT for a short period but as I see it, the 75 initial "shareholders" are being way too stingy.  If you want adoption, you need to get coin out reasonably easily, a fair amount (not some piddly 2-4 NXT), and quickly.  

NXT are so cheap it's not funny. One of the main contenders to bitcoin - market cap of 5.5 billion - has a market cap of 22 MILLION).

Do the math. If NXT got to a market cap of 5 billion, each NXT would be worth $5 USD, and they cost about 2 cents today.

I'm a new comer to crypto, and maybe I'm missing something, but I'm not waiting for a freebie give away to get 500 NXT.

I'm spending $1000 USD and buying 50K NXT. If NXT is as good as what I've been reading lately that $1000 investment might be worth 250k USD (assuming NXT marketcap similar to bitcoin) sometime soon. That's a good bet in my mind.

I don't want to miss this one, and I'm not expecting a handout any time soon, but I can buy NXT for 2 cents on bter or dgex right now.

The 75 initial stakeholders might be stingy but that doesn't stop NXT being a good bet right now.

This is the basic thought process of every newbie that comes in here.  I missed the train so I'm going to jump on <inset alt-currency here> and get rich.  The problem is that all of these alt-currencies are significantly behind Bitcoin in terms of adoption, infrastructure, development, just about everything.  That's not to say someone can't build a better mousetrap or that Nxt can't compliment or replace Bitcoin, but your valuation has no basis in reality.  The reality is all of these alts face significant headwinds because they are far behind in the game.

My point was that when you're playing catchup, sitting on your hands holding your coin isn't really the smartest move, IMO.  You get it out there quickly and to as many people as you can.  Like I said, it's their money and their prerogative.  And it's your money so feel free to spend as you wish.  Me personally I don't really feel like giving my personal information to some company in Panama that I've never heard of.  To each their own.

I just want to test the system and do my own due diligence, and now thanks to sparta, I have that opportunity.  The Nxt received will be repaid or paid forward.

[bluemeanie1]

Ok, I just sent you each 502.

CurbsideProphet, be sure to send one NXT out of your account in order to generate a public key and make it more secure.

I don't have a huge investment here, so these contributions are meaningful amounts for me. Don't worry about paying me back. Just say good things about me (even if you have to make stuff up), and help Nxt succeed, and that's payment enough.

should I have received them by now?  -bm

I just checked the block explorer and they are in the address you posted. Are you not seeing them in your client?

nope. 

-bm

[sparta_cuss]

Ok, I just sent you each 502.

CurbsideProphet, be sure to send one NXT out of your account in order to generate a public key and make it more secure.

I don't have a huge investment here, so these contributions are meaningful amounts for me. Don't worry about paying me back. Just say good things about me (even if you have to make stuff up), and help Nxt succeed, and that's payment enough.

should I have received them by now?  -bm

I just checked the block explorer and they are in the address you posted. Are you not seeing them in your client?

nope. 

-bm

Can someone with more technical expertise help bluemeanie1 investigate?

[S3MKi]

upgrade inxt please!

[bluemeanie1]

upgrade inxt please!

I have to upgrade my executable?  -bm

[bluemeanie1]

ok, Im going to compile from the repo https://bitbucket.org/JeanLucPicard/nxt.git ,

how do I transfer my wallet data over?

-bm

[bluemeanie1]

ok, got it working!  thanks.  -bm

[acdc]

This is the basic thought process of every newbie that comes in here.  I missed the train so I'm going to jump on <inset alt-currency here> and get rich.  The problem is that all of these alt-currencies are significantly behind Bitcoin in terms of adoption, infrastructure, development, just about everything.  That's not to say someone can't build a better mousetrap or that Nxt can't compliment or replace Bitcoin, but your valuation has no basis in reality.  The reality is all of these alts face significant headwinds because they are far behind in the game.

My point was that when you're playing catchup, sitting on your hands holding your coin isn't really the smartest move, IMO.  You get it out there quickly and to as many people as you can.  Like I said, it's their money and their prerogative.  And it's your money so feel free to spend as you wish.  Me personally I don't really feel like giving my personal information to some company in Panama that I've never heard of.  To each their own.

I just want to test the system and do my own due diligence, and now thanks to sparta, I have that opportunity.  The Nxt received will be repaid or paid forward.

I don't think I'm jumping on the first <inset alt-currency here> to get rich. Just 3 - NXT, Monero and devcoin for emotional reasons because I like the ideals.

I'll look at mastercoin & counterparty & etherium & maidsafe, but out of those NXT seems to have the best community behind it, and it's cheaper than those considering the relative stages of development. eXocoin and Qora look interesting, and then way down the back are a few cloned altcoins with some good features. But for now just 3.

I think I understand your point about the 73 guys sitting on their hands, but I don't agree, as those guys didn't start a company, they invested in an IPO, and so the NXT they own is their property. NXT is more like a  'share' than a currency, and who gives away shares to attract more shareholders.

If the tech is good there'll be demand no matter what, and it appears some of the 73 are prepared to sell for 2 cents, which to my mind is extraordinarily cheap.

The one guy who started NXT has vanished, so each of those 73 people can do what they like, and I think they're doing pretty well. Giving 1000 NXT coins to 1000 guys would achieve very little, but give 1 Million coins to one talented guy and maybe he'll turn NXT into the decentralised Google of money. That is smarter, and I bet that's what SOME of them are doing. How else can you explain all the activity.

[evanxxx]

I am glad to see that more and more people realize that Nxt is more like shares of a company than just a currency. Nxt provides services for people, that's the key point. For bitcoin, its value depends on that people believe it has a value as a currency, just like some kind of papers have values because people believe the credit of the governments. While Nxt does not base its value on belief. Anything that is useful has a value naturally when people begin to use it to satisfy their needs. Nxt is such a thing. The features and businesses around it are forming the ecosystem. I personally think it will be more useful than Google and Facebook.

[CurbsideProphet]

I think I understand your point about the 73 guys sitting on their hands, but I don't agree, as those guys didn't start a company, they invested in an IPO, and so the NXT they own is their property. NXT is more like a  'share' than a currency, and who gives away shares to attract more shareholders.

I think therein lies the catch-22.  It's a Proof of Stake system, so you want to hold but holding does nothing to gain more adopters (which is really what you need otherwise you're just 70 guys holding worthless code).  I don't see it as shares in a company, shareholders derive value from their equity interest in the performing assets of a company.  Nxt is the performing asset.  

This is why I used Ripple as an example, whether you want to call it a pre-mine or not, that's just semantics because that's just what it is.  You have a small amount of stakeholders who hold the lion's share of Nxt with the intent of having the Nxt appreciate in value.  However, the only way for it to appreciate in value is for others to adopt it and the only way for others to adopt it is to relinquish part of your share.  Nxt isn't created out of the air, where does it come from?  The stakeholders.

You can assign any value you want to Nxt but without people there's no liquidity.  There's no market.

The one guy who started NXT has vanished, so each of those 73 people can do what they like, and I think they're doing pretty well. Giving 1000 NXT coins to 1000 guys would achieve very little, but give 1 Million coins to one talented guy and maybe he'll turn NXT into the decentralised Google of money. That is smarter, and I bet that's what SOME of them are doing. How else can you explain all the activity.

That's probably step 1, you compensate people who can help with the infrastructure.  However, as I mentioned time is not on the side of alt-currencies.  Time is of the essence so you're probably better off paying developers and spreading out Nxt to new users so that they can test it, tell their friends about it, find bugs, etc.  So you give out a million coins.  There's still 999 million left.  This is why the faucet is so ridiculous and I'm glad that it's being looked at.  They should be giving it away by the bucket full right now because a million users will do a hell of a lot more than holding onto that .1%.

As for the activity, it's totally meaningless.  A stakeholder can easily set up multiple accounts and transfer Nxt to themselves giving the appearance of activity when in actuality there is none.  

[Eadeqa]

This is why I used Ripple as an example, whether you want to call it a pre-mine or not, that's just semantics because that's just what it is.  You have a small amount of stakeholders who hold the lion's share of Nxt with the intent of having the Nxt appreciate in value.  However, the only way for it to appreciate in value is for others to adopt it and the only way for others to adopt it is to relinquish part of your share.  Nxt isn't created out of the air, where does it come from?  The stakeholders.

Anyone can go to BTR and/or cryptsy and buy Nxt. If demand is higher than supply, prices will go up, encouraging stakeholders (and others)  to sell.  We aren't running out of Nxt where buyers aren't able to buy. Nor will that ever happen.

[nangetsu]

Vertcoin sub-post is saying PoS is not secure... any comments?

[Istanbul34]

Vertcoin sub-post is saying PoS is not secure... any comments?

We can't answer this question without more info. Like; WHY is it not secure? Because NXT is not an ordinary altcoin with a POS system.

NXT solved many problems that many altcoins who are going POS didn't found out yet. That is the advantage of being the first POS currency like NXT is.

[dzarmush]

I've only looked into NXT for a short period but as I see it, the 75 initial "shareholders" are being way too stingy.

What's your problem with 73 initial stakeholders? They didn't dump at 10 satoshi, they didn't dump at 100 satoshi, at 1000 satoshi, at 5000 satoshi. They didn't even dump at 16 000 satoshi. They proved themselfs to be super reasonable holders. Some of them sold all their stakes through the trading thread to keep the price high. So if you're afraid that initial stakeholders might dump all coins and ruin price then don't, because they won't. Bitcoin and regular money like Dollar have way worse distribution, so if you don't like it, maybe you don't want to live on this planet anymore? If you're just greedy envious person and can't live with understanding that some people made good profit, it's your personal mental problem that has nothing to do with Nxt. Early Bictoin adopters become millioners last year. Can you live with that? Maybe you should just forget about cryptocurrencies if it hurts you so much.

[ChuckOne]

About the 73-problem:

When they dump, it is good for distribution. (which people complain about to be unfair initially)
When they hoard, the price rises. (which people complain about to be too low)

[bitcoinpaul]

NXT solved many problems that many altcoins who are going POS didn't found out yet. That is the advantage of being the first POS currency like NXT is.

+1

[zorke]

Dido for me, if you have more to share my address is 6059522116849959387

Peace.

Btw on one of the nxt pages it says to contact people on the giveaway pages or something like that, but there is no link.  Is there somewhere we can more officially display our addresses to the founders to get some Nxt.

My plan is to give some out to all the bitcoiners at the next meet up here in Seoul.

If you take a look at the NXT blockchain explorer of Sparta Cuss account  http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=14748981975238803545   you will see that he is not holding too many NXT, yet he just part away with his 1000 NXT.

So don't expect that he will send everybody 500 since his 25,000 NXT stash will melt very fast in this way.

If anything, you just witnessed what great people are in the NXT community, when one guy holding 25,000 NXT (I am not saying this is a small amount, but comparing to people holding millions it is) sends 1000 NXT, than what can you say about a one community. When you add development on the top of this and other community members that are around for almost 5 months now, than you get a feeling that NXT will be going places in the future!

100% best community out of all crypto's out there, I can vouch for that!