barabbas
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Merit: 1000
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May 14, 2014, 04:31:38 AM |
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https://bitcointalk.org/index.php?topic=303898.20\ So BCNext wrote this: "Oh, BTW, don't send big amounts, please. If someone owns very big stake of coins this can lead a proof-of-stake currency to failure." (and then "big amounts" were considered decimals of BTC). But somehow the FACT that 10 wallets (who could be the same individual or very few) own almost 300 million coins is not a "distribution" nor technical problem... Read the whole thread. On second or third page, the max was fixed to 1 BTC. Everything is in public record. How the coins were distributed is also public and variable as you can see the hashes on blockchain info and coins were distributed accordingly and verifiably. It was fairest IPO as the developer's stake were zero. And rules were same for everyone -- no exceptions for the developer. Once again, that is, 1.- if you believe the developer. It's a hard one but ok. You believe him, I won't. But, if it was true, it was a MONUMENTAL mistake and counter totally to his initial purpose. Regardless... the resulting fact is that a few people got an insane amount of coins, situation that remains now, which is EXACTLY THE OPPOSITE of what his initial intent was and the inevitable consequence is the permanente manipulation of the market as those with the millions of coins dump them at will upon the market. Never mind that they make of "forging" a ridiculous mockery. we all know this argument. we all feel the same way you do about it. some of us however feel that some of the other advantages outweigh this legitimate criticsm. however if you do not than you are totally welcome to that opinion. if you dont like it than just dont buy any nxt. ezpz As I have stated repeatedly, I will not beyond the very few I got initially that I will liquidate, for profit, any moment now. |
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brooklynbtc
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Merit: 250
AKA jefdiesel
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May 14, 2014, 04:33:38 AM |
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I miss Emule  |
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chanc3r
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May 14, 2014, 04:48:29 AM |
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It was, you would probably admit, "abruptly interrupted", as has been stated for months, by a lot of people. But the problem, from where I stand, is not the apparently dubious distribution chosen (after so much care was evidenced by BCNext in making sure that the distribution was as wide as possible), that would be a problem in and of itself. The problem is the current concentration of coins and the range of problems that it can cause.
I am answering people here because some are quite polite and not argumentative or offensive. I have just a very small interest in the coin and will dump it at any moment because my decision is made and I won't participate in what looks to me like a scam or, at the very least, like I have explained before several times, a coin manipulated in extreme even if there is not intention to manipulate it. I mark it scam and move on. Period.
Sorry that I cannot be convinced that anonymous individuals, next to loads of money, with total lack of accountability, are going to do good. This thread itself is full of scammers with their schemes already on the AE and about to surface there, as an example, so...
DRK, as I stated, is next under the radar.
I and others accept that the distribution of NXT could have been better but accept it, maybe we are all idiots, maybe not. I also accept that some people in the community will be untrustworthy but what I can say when this has become apparent they and their scams have been neutralised and in many cases victims have been compensated by other community members. There is vast amount of information now generated by the community so to someone new to it, it can seem impenetrable, from the original 2600 thread to the nxtforum, and google hangouts (also on youtube) where many members of the NXTcommunity are easily identifiable (in RL terms). Even 5 years on with bitcoin is struggling to get mainstream adoption and the major holders of bit coin are owners of assets valued far higher than NXT largely unknown and unaccountable. I accept that you can make these points but these points apply to ALL digital currencies, even ones which aim to achieve a level of 'respect' with 'named' investors suffer in the same way. True the top 10 accounts own a lot of NXT but some day they will sell, its an investment for them, are they likely to perpetrate an attack - no, by the time they sell could someone else - I doubt it - it will take a lot of cash to buy it then... I also resent the unfounded conclusion that you come to with no evidence in your earlier statement that this thread is full of scammers and so is the AE, I see no evidence other than the criteria you are using to come to this judgement are wholly unrealistic for an ecosystem that is 6 months old and essentially a financial wild west, no one actually denies this and many community members actively warn and advise new members openly in the forums. The development and innovation that the community is undertaking is transportable and we now have some 'clones' following NXT trying to resolve the initial distribution problem. If one of the original stakeholders or a group were to damage NXT I am fairly sure the community would take the innovations, create a new coin, distribute it and carry on and seek to take all of the current investors/holders with them - the beauty of PoS is this can be done easily and it would not take long. So I fail to see what an attack would achieve other than being incredibly disruptive for a time. Finally I will repeat that I refute your claim about the community completely - yes we may have a few untrustworthy members, all communities do but to tar this community with such a broad sweeping statement is completely unjustified - your 'radar' needs to go deeper as at the moment it seems rather superficial. |
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allwelder
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May 14, 2014, 05:06:29 AM |
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Is this cool? @all 100 k bounty from ideenfrische to the one putting the Nxt sticker to the posted position (naked & screaming loud).   beautiful sticker. |
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allwelder
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May 14, 2014, 05:09:21 AM |
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Anon136
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May 14, 2014, 05:10:40 AM |
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https://bitcointalk.org/index.php?topic=303898.20\ So BCNext wrote this: "Oh, BTW, don't send big amounts, please. If someone owns very big stake of coins this can lead a proof-of-stake currency to failure." (and then "big amounts" were considered decimals of BTC). But somehow the FACT that 10 wallets (who could be the same individual or very few) own almost 300 million coins is not a "distribution" nor technical problem... Read the whole thread. On second or third page, the max was fixed to 1 BTC. Everything is in public record. How the coins were distributed is also public and variable as you can see the hashes on blockchain info and coins were distributed accordingly and verifiably. It was fairest IPO as the developer's stake were zero. And rules were same for everyone -- no exceptions for the developer. Once again, that is, 1.- if you believe the developer. It's a hard one but ok. You believe him, I won't. But, if it was true, it was a MONUMENTAL mistake and counter totally to his initial purpose. Regardless... the resulting fact is that a few people got an insane amount of coins, situation that remains now, which is EXACTLY THE OPPOSITE of what his initial intent was and the inevitable consequence is the permanente manipulation of the market as those with the millions of coins dump them at will upon the market. Never mind that they make of "forging" a ridiculous mockery. we all know this argument. we all feel the same way you do about it. some of us however feel that some of the other advantages outweigh this legitimate criticsm. however if you do not than you are totally welcome to that opinion. if you dont like it than just dont buy any nxt. ezpz As I have stated repeatedly, I will not beyond the very few I got initially that I will liquidate, for profit, any moment now. ok.......? cool story? |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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allwelder
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May 14, 2014, 05:12:06 AM |
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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? check the distribution here: http://87.230.14.1/nxt/nxt.cgi?action=34BTC has a worse distribution. Don't make bad assumptions please. Yes,static is much persuasive |
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luckygenough56
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May 14, 2014, 05:37:45 AM |
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Are there forging pools working nice for NXT ?
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nutildah
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Merit: 8575
Happy 10th Birthday to Dogeparty!
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May 14, 2014, 05:46:40 AM |
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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).
The point of the argument is that mining leads to better distribution than forging, which apparently isn't even a possibility without massive quantities of NXT to begin with. You can get mass quantities of BTC without having to pay actual dollars, but that isn't yet a possibility with NXT. Yes, this problem can be solved by the exchange itself but the point is, ALL of this future NXT to be distributed has to come from the same 20 people...
Having said that, I am impressed with the mindbending array of potential real-world applications for the NXT platform. The community really seems to have it together in terms of goals, creating professional-looking products and getting the word out.
I think these kind of arguments are good for NXT because they help put it to the test. Please by all means, feel free to correct my many misconceptions. I want solid reasons to believe that this won't inevitably fold to the human forces of weakness, temptation or greed.
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Eadeqa
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May 14, 2014, 05:53:04 AM |
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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).
It's still a lot cheaper to "buy" nxt then to buy mining gear to mine BTC. So chances to get both are about the same. Also, don't forget http://hashrate.org/So it's possible to even get Nxt by "mining" via multipool |
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barabbas
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Activity: 1162
Merit: 1000
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May 14, 2014, 05:55:33 AM |
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It was, you would probably admit, "abruptly interrupted", as has been stated for months, by a lot of people. But the problem, from where I stand, is not the apparently dubious distribution chosen (after so much care was evidenced by BCNext in making sure that the distribution was as wide as possible), that would be a problem in and of itself. The problem is the current concentration of coins and the range of problems that it can cause.
I am answering people here because some are quite polite and not argumentative or offensive. I have just a very small interest in the coin and will dump it at any moment because my decision is made and I won't participate in what looks to me like a scam or, at the very least, like I have explained before several times, a coin manipulated in extreme even if there is not intention to manipulate it. I mark it scam and move on. Period.
Sorry that I cannot be convinced that anonymous individuals, next to loads of money, with total lack of accountability, are going to do good. This thread itself is full of scammers with their schemes already on the AE and about to surface there, as an example, so...
DRK, as I stated, is next under the radar.
I and others accept that the distribution of NXT could have been better but accept it, maybe we are all idiots, maybe not. I also accept that some people in the community will be untrustworthy but what I can say when this has become apparent they and their scams have been neutralised and in many cases victims have been compensated by other community members. There is vast amount of information now generated by the community so to someone new to it, it can seem impenetrable, from the original 2600 thread to the nxtforum, and google hangouts (also on youtube) where many members of the NXTcommunity are easily identifiable (in RL terms). Even 5 years on with bitcoin is struggling to get mainstream adoption and the major holders of bit coin are owners of assets valued far higher than NXT largely unknown and unaccountable. I accept that you can make these points but these points apply to ALL digital currencies, even ones which aim to achieve a level of 'respect' with 'named' investors suffer in the same way. True the top 10 accounts own a lot of NXT but some day they will sell, its an investment for them, are they likely to perpetrate an attack - no, by the time they sell could someone else - I doubt it - it will take a lot of cash to buy it then... I also resent the unfounded conclusion that you come to with no evidence in your earlier statement that this thread is full of scammers and so is the AE, I see no evidence other than the criteria you are using to come to this judgement are wholly unrealistic for an ecosystem that is 6 months old and essentially a financial wild west, no one actually denies this and many community members actively warn and advise new members openly in the forums. The development and innovation that the community is undertaking is transportable and we now have some 'clones' following NXT trying to resolve the initial distribution problem. If one of the original stakeholders or a group were to damage NXT I am fairly sure the community would take the innovations, create a new coin, distribute it and carry on and seek to take all of the current investors/holders with them - the beauty of PoS is this can be done easily and it would not take long. So I fail to see what an attack would achieve other than being incredibly disruptive for a time. Finally I will repeat that I refute your claim about the community completely - yes we may have a few untrustworthy members, all communities do but to tar this community with such a broad sweeping statement is completely unjustified - your 'radar' needs to go deeper as at the moment it seems rather superficial. Let me be absolutely clear in this: I did not imply, in any way, that the NEXT community is full of scammers. I don't know how you could have that impression. The ones I have called so are two, specifically, that have been quite active in questioning me today and that it so happens, have schemes going on at AE that I consider quite scammy. I have found others there, that are too, in my opinion. But neither the actions/words of those two individuals, not the scams present or future at AE can in any way be representative of the community at large. I understand that you "fail to see what an attack would achieve" and I have addressed that position earlier. I will do it again: You admit that it would be "incredibly disruptive for a time". That is precisely the point. Deep pockets would be very easy to benefit big time from such disruption, especially if caused by them for that precise purpose. Thank you for you polite post. I appreciate and respect your position albeit I cannot share it. And if this proves to me to be the state of ALL significant altos, I will understand even clearer why there's absolutely no progress made 5 years plus after bitcoin. And will not invest in it, of course. I do expect though to find "honestcoin" where the distribution is both fair, intelligent and by all means, compensatory for both the creators and the visionaries that invested in it... but not to the point of absolute control and, even worse, non-premeditated manipulation. |
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Eadeqa
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May 14, 2014, 06:01:53 AM |
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Thank you for you polite post. I appreciate and respect your position albeit I cannot share it. And if this proves to me to be the state of ALL significant altos, I will understand even clearer why there's absolutely no progress made 5 years plus after bitcoin. And will not invest in it, of course. I do expect though to find "honestcoin" where the distribution is both fair, intelligent and by all means, compensatory for both the creators and the visionaries that invested in it... but not to the point of absolute control and, even worse, non-premeditated manipulation.
Good luck with that search, but as happens in life, early investor get richer if the project is sucess. This doesn't just apply to crypto. This applies to everything in life (facebook, google, apple, microsoft). People who were mining bitcoin in 2009 had no idea what will happen in 2014. They could have been just wasting time. Same applies to Nxt IPO investors. "A world with the money can not be perfect"' |
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dzarmush
Legendary
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Merit: 1001
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May 14, 2014, 06:03:31 AM |
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After spending some time for research I totally reconsidered. I admit that I was just a very stupid person throwing all those meaningless arguments around. Nxt is the best thing ever happenned to the whole crypto world and I was just a stupid troll.
Now we're talking. |
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lyynx
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May 14, 2014, 06:14:40 AM |
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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. |
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luckygenough56
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May 14, 2014, 06:16:10 AM |
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I have to say i'm concerned by those top 20 stakeholders, they're sneaky saying that forging fees is peanuts. At the actual activity rate maybe, because there is not many transactions/fees and lots of empty blocks. Now, imagine nxt really takes off and activity increseases, they will forge insane amount of nxt and ponzi is coming. More and more and more for big stakeholders and next to zero for the average stakeholder cause forging sucks so bad. There is no -if i may call it that way- "ceiling for forging rate" for outragous stakeholders and that is really really bad. The more i think about it, the more it appears to be one of the most unfair crypto ever and most people can't see it because they don't understand how forging works and how it is based on transactions volume. Seems like a ponzi masterplan. Highly dangerous.
I will encourage everybody to go to a nxt clone like NEM with a fair/moderate distribution system to counter forging insanity. And even NEM is not perfect -forging wise- still no ceiling for forging rate- but at least there is no outragous stakeholders.
Don't get me wrong, nxt has big innovations, client is a big step and great but its premises/bases are really really bad. Greed drives the thing so much it's almost disguting. I have nothing against greed but here it's too much. And you know i'm right.
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pandaisftw
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May 14, 2014, 06:24:08 AM |
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Let me be absolutely clear in this: I did not imply, in any way, that the NEXT community is full of scammers. I don't know how you could have that impression. The ones I have called so are two, specifically, that have been quite active in questioning me today and that it so happens, have schemes going on at AE that I consider quite scammy. I have found others there, that are too, in my opinion.
But neither the actions/words of those two individuals, not the scams present or future at AE can in any way be representative of the community at large.
I understand that you "fail to see what an attack would achieve" and I have addressed that position earlier. I will do it again: You admit that it would be "incredibly disruptive for a time". That is precisely the point. Deep pockets would be very easy to benefit big time from such disruption, especially if caused by them for that precise purpose.
Thank you for you polite post. I appreciate and respect your position albeit I cannot share it. And if this proves to me to be the state of ALL significant altos, I will understand even clearer why there's absolutely no progress made 5 years plus after bitcoin. And will not invest in it, of course. I do expect though to find "honestcoin" where the distribution is both fair, intelligent and by all means, compensatory for both the creators and the visionaries that invested in it... but not to the point of absolute control and, even worse, non-premeditated manipulation.
You might want to check out counterparty, mastercoin and coloredcoin, as they all have some sort of asset exchange as well - have fun calling everyone there involved with their AE scammers. Let's be clear here: You toss around the term "scam" on basically everything (and anyone who corrects your misconceptions) - without evidence. As someone pointed out, you don't seem to know the definition of what a scam really is, so I'll link it again: http://dictionary.reference.com/browse/scam?s=tWhere is your proof that whatever and whoever you are accusing are running scams? As far as I know, there are legitimate assets on the exchange being run by people who truly want to make their idea succeed. By the way, I don't have anything listed on the AE, so your accusations about me are completely unfounded. Pandaisftw |
NXT: 13095091276527367030
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barabbas
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May 14, 2014, 06:38:20 AM |
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Let me be absolutely clear in this: I did not imply, in any way, that the NEXT community is full of scammers. I don't know how you could have that impression. The ones I have called so are two, specifically, that have been quite active in questioning me today and that it so happens, have schemes going on at AE that I consider quite scammy. I have found others there, that are too, in my opinion.
But neither the actions/words of those two individuals, not the scams present or future at AE can in any way be representative of the community at large.
I understand that you "fail to see what an attack would achieve" and I have addressed that position earlier. I will do it again: You admit that it would be "incredibly disruptive for a time". That is precisely the point. Deep pockets would be very easy to benefit big time from such disruption, especially if caused by them for that precise purpose.
Thank you for you polite post. I appreciate and respect your position albeit I cannot share it. And if this proves to me to be the state of ALL significant altos, I will understand even clearer why there's absolutely no progress made 5 years plus after bitcoin. And will not invest in it, of course. I do expect though to find "honestcoin" where the distribution is both fair, intelligent and by all means, compensatory for both the creators and the visionaries that invested in it... but not to the point of absolute control and, even worse, non-premeditated manipulation.
You might want to check out counterparty, mastercoin and coloredcoin, as they all have some sort of asset exchange as well - have fun calling everyone there involved with their AE scammers. Let's be clear here: You toss around the term "scam" on basically everything (and anyone who corrects your misconceptions) - without evidence. As someone pointed out, you don't seem to know the definition of what a scam really is, so I'll link it again: http://dictionary.reference.com/browse/scam?s=tWhere is your proof that whatever and whoever you are accusing are running scams? As far as I know, there are legitimate assets on the exchange being run by people who truly want to make their idea succeed. By the way, I don't have anything listed on the AE, so your accusations about me are completely unfounded. Pandaisftw 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. |
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Eadeqa
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May 14, 2014, 06:41:12 AM |
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I have to say i'm concerned by those top 20 stakeholders, they're sneaky saying that forging fees is peanuts. At the actual activity rate maybe, because there is not many transactions/fees and lots of empty blocks. Now, imagine nxt really takes off and activity increseases, they will forge insane amount of nxt and ponzi is coming
Fees will be lowered when/if that happens. If the big stakeholders start dumping, the prices will tank. It's not "bad" some of them are not dumpers. They in fact played a key part in keeping Nxt on top 10 list for last 5 months. They could have dumped everything. Pocketed a million dollars and left, but didn't. It's a "proof of stake" coin, so of course high stakeholders get to forge more. That's the key part in keeping the network safe from any shenanigans. The other PoS coins (like peercoin and feathercoin) require central check points. Nxt doesn't. |
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pandaisftw
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May 14, 2014, 06:48:46 AM |
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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 |
NXT: 13095091276527367030
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luckygenough56
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May 14, 2014, 06:50:29 AM |
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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.
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