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Author Topic: Overstock.com CEO interested in NXT asset exchange!  (Read 6486 times)
Voluntold
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May 03, 2014, 10:51:28 PM
 #41

There are 3 already http://chromawallet.com/  http://www.mastercoin.org/ https://www.counterparty.co/  with stocks and securities issued.


NXT is the biggest hyped joke of all. Low quality code. Very insecure and this guy http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 mined  23298 out of total 127960 blocks. Cryptos used to be about decentralization and now people buy whatever. Cryptos centralized, checkpointing etc. Nobody is thinking anymore This is a complete joke premined public ledger luring noobs. Dont forget that majority of coins are cornered. (71 individuals bought the entire stake for 21 btc)

Agreed. Nxt is a step backward.

Ahh, so you agree with FUD and stuff that is just plain untrue.  I'll make sure I never listen to your advise in the future, thanks.

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solarion
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May 03, 2014, 10:59:22 PM
 #42

There are 3 already http://chromawallet.com/  http://www.mastercoin.org/ https://www.counterparty.co/  with stocks and securities issued.


NXT is the biggest hyped joke of all. Low quality code. Very insecure and this guy http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888 mined  23298 out of total 127960 blocks. Cryptos used to be about decentralization and now people buy whatever. Cryptos centralized, checkpointing etc. Nobody is thinking anymore This is a complete joke premined public ledger luring noobs. Dont forget that majority of coins are cornered. (71 individuals bought the entire stake for 21 btc)

Agreed. Nxt is a step backward.

Ahh, so you agree with FUD and stuff that is just plain untrue.  I'll make sure I never listen to your advise in the future, thanks.

That is your prerogative. I have tried Nxt myself, I just didn't find anything to like about it. Has the ridiculous 1 Nxt minimum transaction fee been eliminated at least?

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ChuckOne
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☕ NXT-4BTE-8Y4K-CDS2-6TB82


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May 03, 2014, 11:04:11 PM
 #43

That is your prerogative. I have tried Nxt myself, I just didn't find anything to like about it. Has the ridiculous 1 Nxt minimum transaction fee been eliminated at least?

It will be removed. First, we need to pass 132K to be able to split 1NXT into many NXTQUANTs. After that, we can adjust the fees.

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May 03, 2014, 11:18:46 PM
 #44

That is your prerogative. I have tried Nxt myself, I just didn't find anything to like about it. Has the ridiculous 1 Nxt minimum transaction fee been eliminated at least?

It will be removed. First, we need to pass 132K to be able to split 1NXT into many NXTQUANTs. After that, we can adjust the fees.

The fees are too high and are only benefiting the first few investors. It's difficult to see Nxt as anything more than a pyramid scheme. Widespread initial distribution of pure PoS coins remains a problem.

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salsacz
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May 03, 2014, 11:31:36 PM
 #45

So we have Nxt, where I proofed that 40% of all existing NXT were redistributed just in first month:
https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=13

And Bitcoin, where only 22% of all existing Bitcoins were redistributed during first 4 years:
http://arstechnica.com/tech-policy/2012/10/78-percent-of-bitcoin-currency-stashed-under-digital-mattress-study-finds/

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
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May 04, 2014, 12:01:30 AM
 #46

Widespread initial distribution of pure PoS coins remains a problem.

No it doesn't. You just buy it at the going rate. End of problem.

Thats what I did.

I don't buy the idea that you're alluding to that "initial distribution" is an issue for NXT or any other POS currency - at least not an insurmountable one. There have been as many advantages to having some big initial accounts as disadvantages. For example, the coin got off the ground for a start which it probably wouldn't have otherwise. Secondly, the development effort was capitalised by much of the initial issue and this has lead to things happening on time and more or less according to the specifications envisaged at the outset.

As a previous poster remarked, NXT is now becoming spread out - at least as successfully as some other established cryptos. And anyway, if your that worried about initial distribution you shouldn't be in cryptos at all or any widely investment for that matter. The asset can end up in a few people's hands even though it doesn't start out that way and vica versa.

What matters is how much you've got, not what everyone else has got.
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May 04, 2014, 12:05:13 AM
 #47

yes i agree, misleading title

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
alcurex.com
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May 04, 2014, 12:30:23 AM
 #48

Widespread initial distribution of pure PoS coins remains a problem.

No it doesn't. You just buy it at the going rate. End of problem.

Thats what I did.

I don't buy the idea that you're alluding to that "initial distribution" is an issue for NXT or any other POS currency - at least not an insurmountable one. There have been as many advantages to having some big initial accounts as disadvantages. For example, the coin got off the ground for a start which it probably wouldn't have otherwise. Secondly, the development effort was capitalised by much of the initial issue and this has lead to things happening on time and more or less according to the specifications envisaged at the outset.

As a previous poster remarked, NXT is now becoming spread out - at least as successfully as some other established cryptos. And anyway, if your that worried about initial distribution you shouldn't be in cryptos at all or any widely investment for that matter. The asset can end up in a few people's hands even though it doesn't start out that way and vica versa.

What matters is how much you've got, not what everyone else has got.

Yes it does. I prefer PoW/PoS hybrids because imo PoW is likely to result in wider distribution than initial PoS. Nxt is a horrible investment for new investors imo because forged transaction fees go to the large initial accounts. This is unlike a typical PoS model where someone can at any point invest and almost immediately see a return. I have no financial stake in Nxt's success or failure. I tried it and found it lacking.

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____ for Localized Shopping ____
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TWITTER
SLACK
|.
ICO  ▶  13th November 2017
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IN FIRST 24 HOURS!
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May 04, 2014, 12:42:32 AM
 #49

Yes it does. I prefer PoW/PoS hybrids because imo PoW is likely to result in wider distribution than initial PoS. Nxt is a horrible investment for new investors imo because forged transaction fees go to the large initial accounts. This is unlike a typical PoS model where someone can at any point invest and almost immediately see a return. I have no financial stake in Nxt's success or failure. I tried it and found it lacking.

I thought the point of NXT was the asset exchange and the scripting language they're building etc. There's no money to be made from forging for the average person, but I don't think that's the point. There's no money to be made from opening my web browser and leaving it running all day either, but it doesn't cost anything 'extra', and I can use my web browser to complete useful tasks.

NXT looks like being very 'useful' one day, and it's relatively cheap, so once those useful features have been included people will buy more NXT TO DO THINGS, not to forge. Pointless expensive POW calculations are an endangered species in a world where energy use is under the spotlight. I'll have the NXT client open all day because I'll be using the exchange, and it won't cost me any extra power, but my actions will still help secure the NXT network. Brilliant idea - make a crypto client 'useful', actually do something and not just burn electricity 24/7 for nothing.

NXT is a completely different model. I think many people are still missing the fundamental aspects of NXT. The distribution of NXT will naturally follow the addition of useful services on NXT, and that starts very soon.

I've even read that NXT will have games built on top it, so people will be running the NXT client while they're playing a game. As long as people think of the piddling forging amounts they're going to miss the NXT train. At 2 cents each, it's still cheap to buy a ticket.
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May 04, 2014, 12:44:42 AM
 #50

There's no money to be made from forging for the average person

Agreed. So why would I invest in it when I can invest in something that will pay ME. I have no incentive to enrich the first few Nxt investors. That is not the case with any of the better PoS coins.

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____ for Localized Shopping ____
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SLACK
|.
ICO  ▶  13th November 2017
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IN FIRST 24 HOURS!
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kennyP
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May 04, 2014, 12:54:29 AM
 #51

There's no money to be made from forging for the average person

Agreed. So why would I invest in it when I can invest in something that will pay ME. I have no incentive to enrich the first few Nxt investors.

Why invest in a postage stamp? Because you can use it to send a letter. Most crypto currencies are just tokens that can't be used for anything. You can buy things with bitcoin, but not much with any of the others.

Why invest in NXT?
-Because you can list an asset on their exchange
-Because you might want to play a NXT game and buy some in-game features
-Because you want to use the NXT digital goods store to buy something
etc etc

One reason right now why you should consider investing in NXT is the price looks to be going up a lot higher very soon once all these features are finished, but for me it's because POW coins don't do anything. Primecoin calculates prime numbers, which is cool, but NXT actually does things, and that's good for crypto currencies in general.


I like POS coins like hobo & TEK and philospherstones, but NXT takes crypto to a whole new level.
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May 04, 2014, 01:13:33 AM
 #52

I like POS coins like hobo & TEK and philospherstones, but NXT takes crypto to a whole new level.

Don't see this next level thing at all...unless you meant next level of pyramid scam? The wallet seems clunky and amateurish. The problem with this pyramid design is the original investors didn't allow any incentive for new investors to make anything at all on their investment.

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____ for Localized Shopping ____
[|FACEBOOK
TWITTER
SLACK
|.
ICO  ▶  13th November 2017
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IN FIRST 24 HOURS!
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May 04, 2014, 01:41:50 AM
 #53

Don't see this next level thing at all...unless you meant next level of pyramid scam? The wallet seems clunky and amateurish. The problem with this pyramid design is the original investors didn't allow any incentive for new investors to make anything at all on their investment.

I don't get the mindset that has accepted bitcoin isn't a pyramid scam, and can accept its high concentration of ownership amongst a few hundred people, but those same people KNOW that NXT must be a scam, and so isn't worth a risk at 2 cents.

New investors at 2 cents can expect a  good chance of massive price increase, and the fact that all 1 billion NXT exist now, so there's no inflation, makes price increase over time a near certainty with all the useful features that will run on NXT. Present marketcap of 22 million USD. In 2 years NXT marketcap will be somewhere between 1-5 billion, at least.

Wallet is clunky for sure, but that's changing now too. The latest version release wallet is far better than anything I've seen, and it will soon include the asset exchange too, so it's a wallet and an interface for the exchange at the same time, so you could buy/sell bitcoin, doge, peercoin etc all from inside the NXT wallet interface.

Can you play a game over the bitcoin network? Can you run an ebay site on bitcoin? These type of services are being coded right now. Useful things have value, and NXT is going to be useful.

The problem I think is many people focus on the 73 people who got lucky, and they feel envy, and that clouds their thinking. NXT has very good tech & a growing user base, and it's dirt cheap at 2 cents each.



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May 04, 2014, 02:01:41 AM
 #54

I don't get the mindset that has accepted bitcoin isn't a pyramid scam, and can accept its high concentration of ownership amongst a few hundred people, but those same people KNOW that NXT must be a scam, and so isn't worth a risk at 2 cents.

The "...but bitcoin blah blah" argument is real thin. It's not 2009 anymore. Bitcoin is the center of the crypto universe and without it we wouldn't be discussing Next's poor distribution. I can't change the events of 2009, but I can make decisions about fledgling altcoins today. My opinion on Next is that it's a poor investment with little incentive to compel someone to swap their bitcoin for it.

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A Decentralized Crypto Marketplace
____ for Localized Shopping ____
[|FACEBOOK
TWITTER
SLACK
|.
ICO  ▶  13th November 2017
GET YOUR 40% BONUS
IN FIRST 24 HOURS!
]      ███
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May 04, 2014, 02:20:45 AM
 #55

I don't get the mindset that has accepted bitcoin isn't a pyramid scam, and can accept its high concentration of ownership amongst a few hundred people, but those same people KNOW that NXT must be a scam, and so isn't worth a risk at 2 cents.

The "...but bitcoin blah blah" argument is real thin. It's not 2009 anymore. Bitcoin is the center of the crypto universe and without it we wouldn't be discussing Next's poor distribution. I can't change the events of 2009, but I can make decisions about fledgling altcoins today. My opinion on Next is that it's a poor investment with little incentive to compel someone to swap their bitcoin for it.

I see your points, maybe you will feel comfortable to swap your bitcoins for Nxt clones with "fair" distribution. There are already quite a few of them. They copy the code from Nxt, so they have the same functions as Nxt which are much more advanced than those in bitcoin. The clones have a bright future according to your arguments.  Cheesy
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May 04, 2014, 02:32:59 AM
 #56

The clones have a bright future according to your arguments.  Cheesy

Heard about attack of the clones and all this allegedly advanced utility. I eventually get around to looking at each altcoin. The "bitcoin 2.0 super mega ultra deluxe new and improved" thing gets old. I don't need my cryptos to make my breakfast or provide me with hookers and blow contacts.

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A Decentralized Crypto Marketplace
____ for Localized Shopping ____
[|FACEBOOK
TWITTER
SLACK
|.
ICO  ▶  13th November 2017
GET YOUR 40% BONUS
IN FIRST 24 HOURS!
]      ███
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May 04, 2014, 02:33:24 AM
 #57

I don't get the mindset that has accepted bitcoin isn't a pyramid scam, and can accept its high concentration of ownership amongst a few hundred people, but those same people KNOW that NXT must be a scam, and so isn't worth a risk at 2 cents.

The "...but bitcoin blah blah" argument is real thin. It's not 2009 anymore. Bitcoin is the center of the crypto universe and without it we wouldn't be discussing Next's poor distribution. I can't change the events of 2009, but I can make decisions about fledgling altcoins today. My opinion on Next is that it's a poor investment with little incentive to compel someone to swap their bitcoin for it.

And the "unfair" of the capitalization has been exist for a very long time, we should have got it right long before 2009. It's really too bad we didn't.
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May 04, 2014, 02:39:44 AM
 #58

I don't need my cryptos to make my breakfast or provide me with hookers and blow contacts.

well, a lot of things are not necessary. many people live a good life in small villages without internet access.
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May 04, 2014, 03:25:18 AM
 #59

There's no money to be made from forging for the average person
So why would I invest in it... I have no incentive to enrich the first few Nxt investors.

Then don't buy now. Buy a couple of months later with other fudsters and trolls when the price is x10 from now and rising.

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May 04, 2014, 03:37:09 AM
 #60

Amazing news. Finally real world whales turn their looks into future of cryptocurrencies. Go Nxt.

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