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Author Topic: [ANN] [NFDv2] - NFD Coin - Thread locked  (Read 208281 times)
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March 04, 2015, 06:00:39 PM
 #2621

Horizon/NFD Merger Announcement

After extensive negotiations, the development team of NFD has agreed to merge with HZ.

Why do we think a merge is good for both coins?

HZ is another Nxt clone with a vibrant community and a larger dev team. HZ has a very good crypto currency infrastructure with many public nodes and has a still ongoing good distribution. They also have good relations to the industry and good marketing. Most of this is missing for NFD but we have a good core development team, which HZ is missing. NFD and HZ ‘s teams share the same ideas and the same vision. This all led to the idea to work together on one coin. Together we are stronger, faster, better!

HZ is actively traded on Poloniex and Bittrex. The recent Bter disaster has not affected HZ.

HZ is offering a buy out for NFD coins. This is an option for the NFD community to move with the NFD development team and also benefit from the team merge.

The HZ dev team has already set up an automated script to make exchanging your NFD easy and convenient. As a welcome to us, the HZ team settled on a fair exchange rate of 1 HZ to 25 NFD.

The exchange itself is scheduled to start on March 9th.The HZ team doesn’t want to release a lot of HZ all at once, which would prompt concern about flooding the market. So, the HZ will be sent on the same schedule as its bounty distribution. In a tip of the hat to “Nxt Fair Distribution,” the accounts with the least NFD will be served first if there’s a line-up. If you’re an NFD minnow, you’ll get your HZ quickly. The whole exchange will take place over four to five months after the 9th, so the big whales will likely have to wait until summer. The minnows will get theirs sooner.

In order to make sure that everyone gets the news, the exchange script will operate for 120 days after the March 9th start. So, the last day to send your NFD to the exchangebot will be July 5th of this year. After that, it will cut off the buyout line and distribute HZ to any sent NFD that’s left.  

Further details and instructions on the exchange mechanics are coming soon. The NFD that the HZ team gets for the exchange will be burned.

NFD Assets, including the ones run by Nxtblg, will be recreated on the HZ system. If you hold any Assets, please contact the Issuer or look on the NFD threads for details on how to redeem your NFD Assets for the HZ equivalents. If your Asset is backed by another cryptocurrency, you also have the option of redeeming your Asset for the underlying crypto. Once the HZ versions are set up, they will be run in the same manner as they were when they were NFD Assets. The terms will be the same, except for terms that depend on market ratios: those will be adjusted to replace HZ’s market value for NFD’s. If you have any questions about the specific mechanics of an Asset transfer, please contact your Issuer.


please see also HZ announcement: https://horizonplatform.io/horizon-acquires-nfd/


Glad to have MaWo and the rest of the NFD team on board, and it looks like the timing worked out well for NFD holders due to the BTER disaster. HZ is strong and growing, and I am glad that we are combining efforts to be stronger. (I am on the HZ team)

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March 04, 2015, 06:48:12 PM
 #2622

I'm looking to buy some NFDs at the same 25 NFDs to 1 NHZ ratio.

I'm planning on setting up a NFD node to keep the network alive after the transition.  I don't own any NFD coins or assets so I'll need a few to keep the node forging.

If anyone's interested, let me know.

Thanks.
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March 04, 2015, 07:19:43 PM
 #2623

I made up my mind and took the NFD by selling those NFDMMNXT back@2000.
There was a small loss, but it was less than the dividends those NFDMMNXT had earned, so I am quite happy about this!

Thanks for that. Unfortunately, MMNXT has been hit hard.

This was all getting a bit complicated for me, so this was the easier way- also, the MMNXT are now available for others who might be interested!
Thank You for the hard work and the initiative! Looking forward to seeing what develops on the HZ AE!  Cheesy


Glad to. Smiley






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March 04, 2015, 09:20:30 PM
 #2624

I think this is a good choice. Somehow NFD is still being associated with the scam, unfortunately..

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March 04, 2015, 11:50:30 PM
 #2625

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

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March 04, 2015, 11:59:31 PM
 #2626

I'm looking to buy some NFDs at the same 25 NFDs to 1 NHZ ratio.

I'm planning on setting up a NFD node to keep the network alive after the transition.  I don't own any NFD coins or assets so I'll need a few to keep the node forging.

If anyone's interested, let me know.

Thanks.

Yeah I think I might join you and keep NFD alive.  I'm not interested in HZ.

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March 05, 2015, 12:56:22 AM
 #2627


And could place a purchase order for NFDMMNXT?

You want me to buy it out? I was planning to issue an MMNXT Asset on the HZ Asset Exchange and then do a one-for-one swap. But if you want NFD, I can see to it.
I wait to swap 1:1 with NHZMMNxt, It depends on the price. Smiley



I'm looking to buy some NFDs at the same 25 NFDs to 1 NHZ ratio.

I'm planning on setting up a NFD node to keep the network alive after the transition.  I don't own any NFD coins or assets so I'll need a few to keep the node forging.

If anyone's interested, let me know.

Thanks.

Yeah I think I might join you and keep NFD alive.  I'm not interested in HZ.

It would be a good, a frozen development.
We could put all the coins and some nodes rewards, or distribuílas to stakes, it costs nothing i keep my node online. Smiley


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March 05, 2015, 01:59:03 PM
 #2628

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

HZ total coins are 1 billion.
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March 05, 2015, 10:49:25 PM
 #2629

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

HZ total coins are 1 billion.

1 : 25 exchange is very bad then.  We will find some developers to take NFD forward.

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March 08, 2015, 12:41:46 AM
 #2630

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

HZ total coins are 1 billion.

1 : 25 exchange is very bad then.  We will find some developers to take NFD forward.

We can do the reverse exchange? of NHZ to NFD?

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March 08, 2015, 02:21:59 PM
 #2631

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

HZ total coins are 1 billion.

1 : 25 exchange is very bad then.  We will find some developers to take NFD forward.

Okay, that's fine. One you find them, please let us know.






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March 08, 2015, 05:30:05 PM
 #2632

Who has decided to join HZ and why HZ, who was always a bit fishy about their distribution from the start?
Is it the community or the devs?

I thought the devs are already been paid handsomely for their work and when it
come to the actual existence of the coin itself, dont you think the community should be involved in taking such an important decision?

Why would the big holders wait for months (which is like decades in crypto world) to get their coins?
By that time HZ could be worth nothing and the big holders are the ones who supported NFD throughout, without selling them and crashing the price.
Is this how you are returning the favour to them or do they have to go though the painful process of creating n number of new accounts with smaller balances?

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March 08, 2015, 07:01:08 PM
 #2633

HZ looks worse than NFD.  was never really interested in that project.  development is what I want, not marketing.

What is HZ max supply?

I want to see how much I'm getting shafted by a 1:25 exchange for a project I don't even care about.

HZ total coins are 1 billion.

1 : 25 exchange is very bad then.  We will find some developers to take NFD forward.

Thats quite a laugh :-)
You have to be glad, that mawo and Nxtblgs team was nice enough to keep this coin alive for a long time.
I assure you: NOONE will care about NFD any more, if they go.

I was in the team as well, but after a while I saw not much chance as there are so many nxt clones in parallel. For a coin you need 2 things:
community and development. The nfd-community was quite ok, but not really good.
The development team was sadly to small to really make a big thing.

Face it guys. A merge of 2 clones is the best, you can get. A merge of 2 small communitys to a bigger one. A bigger developmentteam for a bigger ability to really change something.

If you don't come along you will make this last hope also senseless.
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March 08, 2015, 09:17:12 PM
 #2634

maintaining a coin is really hard work, and MaWo did an excellent job on that!

but what can not be expected from a very small team is to do proper work on developing and maintaining the coin AND pull a vibrant and active community out of their hats.

so with the bigger community of HZ and the very clean software management of NFD, this does have a chance of succeeding.

keeping NFD alive might be some fun for a short time, but it will be pointless. If anything, the NFD experience has shown how incredibly dreary and challenging work it is to maintain a NXT clone.

who remembers $hitty NAS and iven $hittier N2? those were sloppy copy+paste jobs that couldn't keep up with the pace of development of NXT because the devs were incompetent right from the beginning. ... aaaaand ... they were gone.  


By the way: when will there be specifics on how to do the excahnge? did I miss them on the HZ thread or home page?
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March 08, 2015, 09:28:07 PM
 #2635

Who has decided to join HZ and why HZ, who was always a bit fishy about their distribution from the start?
Is it the community or the devs?

The devs, certainly. The exchange allows anyone on the NFD community to join HZ, but it's not obligatory. If you want to stick with NFD you can hold on to what you've got.

I thought the devs are already been paid handsomely for their work and when it
come to the actual existence of the coin itself, dont you think the community should be involved in taking such an important decision?

I've been paid nothing. The only payments that have been made have been for bounty jobs. When it comes to the continuation of NFD itself, each NFDer can decide for him- or herself. As I said, the exchange isn't obligatory: if you want to keep NFD alive, you just need to hold on to your NFD.

Why would the big holders wait for months (which is like decades in crypto world) to get their coins?
By that time HZ could be worth nothing and the big holders are the ones who supported NFD throughout, without selling them and crashing the price.
Is this how you are returning the favour to them or do they have to go though the painful process of creating n number of new accounts with smaller balances?

HZ is older than NFD and is better established. The length of the exchange process is to protect HZ from being flattened by a huge dump. As for big holders who held on, I'm one of them. Any big holder just has to wait longer, that's all. If the line isn't long, you won't have to wait all that long.

Look at my HZ account and you'll see: https://explorer.horizonplatform.io/?page=account&id=10297859071185247025 I got a big exchange payment because I sent in a big amount from an NFD account that no-one knew was mine. If you're a big holder, you will get your HZ; you'll just have to wait a bit. How long depends on the line.






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March 08, 2015, 09:30:34 PM
 #2636

maintaining a coin is really hard work, and MaWo did an excellent job on that!

Thanks l8orre; you're right.

By the way: when will there be specifics on how to do the excahnge? did I miss them on the HZ thread or home page?

Here are your specifics:

Not sure why the 9th made it into all the announcements, the script is running already.
Here's how it works:

* get a HZ account
  * download the HZ client at
    https://horizonplatform.io/wallets
  * use the web wallet at https://account.horizonplatform.io
* use https://faucet.horizonplatform.io to fund that account
* send NFD to NFD-YMUS-QDPE-BG5C-9PH3M
  include your HZ account (and nothing else) in the message field
  the rate is 25:1, the transaction fee of 0.1% (at least 1) is substracted from the payout
* wait for a message regarding your deposit (sent every full hour)
* wait until it's your turn
  the funds for the swap will be released in parity with other bounties paid out to the HZ community
  smaller deposits will be processed first, if you want to get some HZ sooner, send a lower amount of NFD


https://bitcointalk.org/index.php?topic=603932.msg10643792#msg10643792






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March 08, 2015, 10:34:35 PM
 #2637

I've exchanged my coins. I don't think NFD will have a chance without the capable dev team..

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March 09, 2015, 01:12:13 AM
 #2638

I've exchanged my coins. I don't think NFD will have a chance without the capable dev team..

Yup......I'm impressed by the work put in by MaWo, NxtBlg and others to rescue NFD in its darkest hour and actually get it up and running, and I trust them to make the right decisions for NFD.
So, even though I am not very happy about the current direction of Horizon, I think the option to merge NFD in to HZ is reasonable, so I'm going to redeem my NFD for HZ.








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March 09, 2015, 12:54:47 PM
 #2639

Who has decided to join HZ and why HZ, who was always a bit fishy about their distribution from the start?
Is it the community or the devs?

The NFD dev team decided to merge with HZ team. The NFD community hast do decide whether they also want to merge with HZ or stay with NFD.
HZ offers an exchange rate for all those also want to move to HZ.  In my opinion is that a very nice move of HZ!

I thought the devs are already been paid handsomely for their work and when it
come to the actual existence of the coin itself, dont you think the community should be involved in taking such an important decision?

The devs got 13.98 bitcoins from escrow for releasing NFD.  18KAi7XzLXrsCQCwJk3Fk6u9acdGuAW4it
Until now no NFD developer of the first 5 weeks got paid. We used the bitcoins to reinvested in NFD by buying NFD at bter and adding and increasing NFD bounties.
I personally spend every month 61,45 EUR for 4 vps and 1 dedicated server for public NFD nodes as network backbone for NFD.

I will distribute these BTC/NFDs/HZ to the developers of the first weeks.

Additional 5% of all NFD coins were reserved for bounties. These were 250 million NFD. I have to calculate how much of them are left. There were also some NFD hold back during distribution, because of sock puppets and other issues. After three month they got part of NFD dev bounty reserve.

If there appears a new NFD development team who is supported by the community then I will transfer the left dev bounty NFDs after the 5th of July to the new development team. We will not exchange the NFDs part of the 250 million dev bounty reserve (always assuming there are some left!).

Why would the big holders wait for months (which is like decades in crypto world) to get their coins?
By that time HZ could be worth nothing and the big holders are the ones who supported NFD throughout, without selling them and crashing the price.
Is this how you are returning the favour to them or do they have to go though the painful process of creating n number of new accounts with smaller balances?

I got exchanged my first 50 million NFD within 2 days. I send them to NFD-YMUS-QDPE-BG5C-9PH3M with my NHZ account number as attached message.
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March 09, 2015, 01:12:00 PM
 #2640

I personally spend every month 61,45 EUR for 4 vps and 1 dedicated server for public NFD nodes as network backbone for NFD.


Mawo, Thank you for having done great work for NFD, and helping test NFD-AT.
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