| Nxt | Blockchain Platform | Proof of Stake | Official

[luckygenough56]

I made a withdrawal on cryptsy

Nxt    9049951402102219004    1011.00000000 NXT    Yes    2014-05-13 14:09:23
Processed    TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

[Anon136]

this series by reason on the emerging peer2peer economy was really good i think. https://www.youtube.com/watch?v=vXS8JLXu0zs

[Ezravdb]

I made a withdrawal on cryptsy

Nxt    9049951402102219004    1011.00000000 NXT    Yes    2014-05-13 14:09:23
Processed    TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Cryptsy, unfortunately is very slow in NXT withdrawals..

NXT itself is not the cause of this problem

BTER for instance has instant withdrawals..

You should put up a support ticket on Cryptsy, because this is not acceptable..

[bluemeanie1]

does anyone else here feel like some of these posters are intentionally trying to make NXT look bad?



-bm

[barabbas]

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

Show me 10 stocks that don't have the top 10 investors hold >1/3

I could show you many. Just for your reference, since you profess total ignorance on the matter- I will remind you that Steve Jobs himself was ousted from Apple. And that wasn't an exceptional occurrence either.

But any similitude with stocks in a cryptocurrency, is pure coincidence and the poorest of excuses for stocks are HEAVILY REGULATED and cryptos are not at all, therefore anyone can perpetrate any kind of fraud here without any consequences, while in stocks, in the real world, he (they) will be taken to jail.

It is preposterous that the top 20 -or 50- wallets control 80-90% of the coins. Not just preposterous but both a distribution problem and a recipe for disaster.

But you really don't care about that, really, do you? You don't care about the future at all, you just want your holdings, whatever they are, to be worth more than you paid for and, when spiking, getting out, right? That's called daytrading or swing-trading. And it's quite ligitimate, so no problem at all with that.

There's a big problem though when you pretend to serve that stance with FUD or inventing similarities that don't exist

[luckygenough56]

I made a withdrawal on cryptsy

Nxt    9049951402102219004    1011.00000000 NXT    Yes    2014-05-13 14:09:23
Processed    TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Cryptsy, unfortunately is very slow in NXT withdrawals..

NXT itself is not the cause of this problem

BTER for instance has instant withdrawals..

You should put up a support ticket on Cryptsy, because this is not acceptable..

Problem is that withdrawal is indicated as processed (not pending) and still nothing in block explorer or wallet after 2 hours. Someone already experienced that ? They can't fake a trxID, can they ?

[bluemeanie1]

Barabbas, do you think Ethereum's business MO is legit?

-bm

[barabbas]

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'.  Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

[barabbas]

Barabbas, do you think Ethereum's business MO is legit?

-bm

I have no idea, nor I care for it anyway.

Oh and I would dearly love to be able to make NXT look good.

Unfortunately, no one can, I now realize with some degree of despair, I have to admit.

I thought I had found the NEXT thing in crypto and just found another scam in progress, a very successful one indeed already.

[Vega]

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'.  Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

Based on your post history it's pointless to engage you. You are like a dog with a bone.
Got bored with BlackCoin, now you are going to write endlessly, page after page about how unfair/scam Nxt is, right?!
It's gonna be great, can't wait.

[Ezravdb]

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'.  Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

Glad you took the effort to look at the Top 100 NXT accounts  

[TwinWinNerD]

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

Show me 10 stocks that don't have the top 10 investors hold >1/3

I could show you many. Just for your reference, since you profess total ignorance on the matter- I will remind you that Steve Jobs himself was ousted from Apple. And that wasn't an exceptional occurrence either.

But any similitude with stocks in a cryptocurrency, is pure coincidence and the poorest of excuses for stocks are HEAVILY REGULATED and cryptos are not at all, therefore anyone can perpetrate any kind of fraud here without any consequences, while in stocks, in the real world, he (they) will be taken to jail.

It is preposterous that the top 20 -or 50- wallets control 80-90% of the coins. Not just preposterous but both a distribution problem and a recipe for disaster.

But you really don't care about that, really, do you? You don't care about the future at all, you just want your holdings, whatever they are, to be worth more than you paid for and, when spiking, getting out, right? That's called daytrading or swing-trading. And it's quite ligitimate, so no problem at all with that.

There's a big problem though when you pretend to serve that stance with FUD or inventing similarities that don't exist

I care more about the future than you, and I have evaluated and informed myself, the contrary of what you did.

Do you know gametheory? Lets assume what you are saying is true ( it isn't in reality): that top 20 accounts have 50.01% of the funds. Now, to destroy or harm the network, they would have to work together. TWENTY people have to organize themselves to hurt the network. This on its own is ridiculously hard. But now comes the kicker: WHY THE FUCK WOULD THEY DO THAT? That is the question. Why? Maybe to burn their 15,000,000 USD investment? To through away then money they own? Sure why not... sounds perfectly reasonable..

There is a huge difference between a POW 51% attack and a 51% attack of POS. You would need to kill your own wealth.

Now **** off you troll fudster and get your facts straight.

[verdun2003]

but many more continue adding coins by forging massive amounts

no the total NXT in circulation does not increase.  The money supply is constant.

-bm

So those people with 40-50 million coins, they don't forge more?

they do forge BLOCKS and they get the TX FEES as payment for doing so.  So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees.

it's quite different than Bitcoin.

-bm

I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right?

yes, but that is true for everyone only forging and not selling. What is your point?

My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents?

Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong?

You are wrong.  There isn't a huge distribution problem.  Distribution is already way better than bitcoin's and continues to get better. 

I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding?

You sir must be a troll...  

Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

This is a legit question. If you look back in time (thank you archive.org, 19th april : https://web.archive.org/web/20140419201626/http://87.230.14.1/nxt/nxt.cgi?action=34), you'll see that the coins pretty sticked to the top holders - distribution was even worse before as there were a few 50,000,000 wallets, now only 2 remaining. This problem is not new, and many ppl saw this as a threat. Time showed us that in the 6 months ++ period, that no big holder sold his coins abruptly.

Now, ask yourself this question: "what is my interest, by being a huge holder of NXT, to see the price decline?" None. The best way to see it decline is through the liquidation of the wallet of one of the... big holders. There is a huge difference between the amount of wealth you have based on the market price, and the total amount you can get by liquidating your position. You may have 6 million USD with 50million NXT at a market price of 0.0000716, but if you cash-out, you may have to put the market at 0.000001, or even less, depending on the order book bids - thus, ending up with way less than the expected 6 million USD.

In a nutshell, it is in the interest of those big holders to... keep the coins. Let alone all the projects that are blossoming all over the place.

[Vega]

I made a withdrawal on cryptsy

Nxt    9049951402102219004    1011.00000000 NXT    Yes    2014-05-13 14:09:23
Processed    TrxID: 16833087602813879114 @ 2014-05-13 14:30:16

Withdrawal processed, 2 hours later still no coin in wallet, how is it possible ? Nxt is that slow or something failed ?

Nxt tranfers take a few minutes max. My guess is that Cryptsy are on a fork. Wait for a bit, maybe the transaction will show up. If not, open a ticket.

[luckygenough56]

Damn, that's not my day. I hate cryptsy.

Thank u anyway

[tersagun]

So what you're saying is , forging nxt bring only marginal profit if any, at least at the current market activity

[barabbas]

Edit: you went from 'top 20 owning 90%' to 'top 10 owning 1/3'.  Which is it?

It is the second, of course. Top 20 were owning 100% initially. I did not know how much now. Now I do and it is almost 1/3. Still showing an evident distribution problem... which is THE problem. Don't disperse....

Based on your post history it's pointless to engage you. You are like a dog with a bone.
Got bored with BlackCoin, now you are going to write endlessly, page after page about how unfair/scam Nxt is, right?!
It's gonna be great, can't wait.

From one scam on to the NEXT. Right.

But I just was considering jumping on this one heavily with proceeds from the other. Now it won't happen, of course.

so I'll leave you with it, no further engagement at all.

[barabbas]

but many more continue adding coins by forging massive amounts

no the total NXT in circulation does not increase.  The money supply is constant.

-bm

So those people with 40-50 million coins, they don't forge more?

they do forge BLOCKS and they get the TX FEES as payment for doing so.  So the NXTs only circulate from USERS to STAKEHOLDERS via transaction fees.

it's quite different than Bitcoin.

-bm

I understand that but, assuming they havent sold a single coin, a guy with 50 million would have considerably more than 50 million nby forging right now, right?

yes, but that is true for everyone only forging and not selling. What is your point?

My point is that if only 20 wallets control probably 80-90% or more of NXT, how does that situation makes a 51% attack "impossible" as claimed in the NXT documents?

Clearer: There's a huge distribution problem -extensible to forging- in this coin. Or I am totally wrong?

You are wrong.  There isn't a huge distribution problem.  Distribution is already way better than bitcoin's and continues to get better. 

I appreciate your confidence but, sorry, you don 't dispute any of my points. Again: 20 wallets got a total of 1 billion coins. Even after presumably massive dumping, still a bunch of those wallets and a few others, control 90% of the coins. How is that not a massive distribution problem? SWhatever the situation on BTc notwithstanding?

You sir must be a troll...  

Top 100 NXT account: http://87.230.14.1/nxt/nxt.cgi?action=34

UH ho... Houston we have a serious problem. Questioning a very logical question, make me a "must be a troll".... very serious (and common) problem.

No "sir" I am just looking for clear answers, that cannot come from fan boys or scammers -one of which you surely are-. I AM aware of the holdings of those 100 wallets. Top 10 wallets still own almost 1/3 of the coins. It IS a HUGE problem by which future investors, like me, should run for the exits.

I wanted some common sensical explanations, obviously there's nothing but blind greed.

This is a legit question. If you look back in time (thank you archive.org, 19th april : https://web.archive.org/web/20140419201626/http://87.230.14.1/nxt/nxt.cgi?action=34), you'll see that the coins pretty sticked to the top holders - distribution was even worse before as there were a few 50,000,000 wallets, now only 2 remaining. This problem is not new, and many ppl saw this as a threat. Time showed us that in the 6 months ++ period, that no big holder sold his coins abruptly.

Now, ask yourself this question: "what is my interest, by being a huge holder of NXT, to see the price decline?" None. The best way to see it decline is through the liquidation of the wallet of one of the... big holders. There is a huge difference between the amount of wealth you have based on the market price, and the total amount you can get by liquidating your position. You may have 6 million USD with 50million NXT at a market price of 0.0000716, but if you cash-out, you may have to put the market at 0.000001, or even less, depending on the order book bids - thus, ending up with way less than the expected 6 million USD.

In a nutshell, it is in the interest of those big holders to... keep the coins. Let alone all the projects that are blossoming all over the place.

Indeed it is. But people have personal projects, needs, etc. That's why, as you point out, they are getting out of their millions of dollars positions "orderly". This "orderliness", of course, holds the price down which, in  turns, hurts the minor investors that don't see their investment grow and also hurts the coin appreciation for it becomes "boring" and doesn't attract traders and new investors, all of which is perfectly legit and goes with the territory when a coin has the humongous distribution problem that this one has.

But the foreseeable big problem is not just the distribution itself, bad as it is. If just a few of these big holders get together -assuming they are not in it together already, what could possibly stop them for perpetrating a 51% attack and take ALL the rest of the coins? Remember, there's absolutely no accountability in crypto...

[regtable69]

So what you're saying is , forging nxt bring only marginal profit if any, at least at the current market activity

all nxt forged is profit if your pc is on anyways. nxt uses maybe 1w extra power. cant confirm that though because the power meter i use didnt budge! lmao and with these assets each block has the possibility of 1000 nxt minimum! get forging

[TwinWinNerD]

@barabbas nice that you ignore my answer... selective much?