[ANN] [NFDv2] - NFD Coin - Thread locked

[Tobo]

This dumping proves that no matter how even the coins could be distributed with free or low price, most of the the coins will be owned by a few of people eventually. Probably it will still be 20% of users owns 80% of the coins and the 20/80 law will still hold.

[1713571374]

1713571374

[1713571374]

1713571374

[1713571374]

1713571374

[MaWo]

This dumping proves that no matter how even the coins could be distributed with free or low price, most of the the coins will be owned by a few of people eventually. Probably it will still be 20% of users owns 80% of the coins and the 20/80 law will still hold.

For those interested in the subject the following link
http://en.wikipedia.org/wiki/Pareto_principle

[Errror]

I also think that many people in cryptos are in red numbers, it has some psychological effect too.

[xtester]

Is there an updated NFD richlist?

[MaWo]

Is there an updated NFD richlist?

I can create a rich list  tonight.

[ma72835]

It's fairly obvious what is happening with trading of this coin. There isn't any dumping happening.

Due to the volatility in (low) price, it's very feasible to quickly increase your holdings by relatively high percentages. Think of it this way: if you sell at 5 and buy back at 4, you pick up an additional 20% worth of coin. It's not about making money on trades ATM with this coin, it's about taking advantage of volatility to increase holdings. The lower the value, the higher the return. How else would anyone explain 5+ BTC orders on both sides? It's the reason Mintpal is so popular as an exchange. With high trade volume there is extremely high volatility, and those that pay enough attention can pick up small amounts of money all day long by hedging themselves and staring at the screen for changes.

Trades between 4 and 3 pick up an 33% increase, etc. The value will not increase as it is extremely profitable to trade on these low numbers. We need to do something drastic to pull the coin out of single digits. My recommendation: pull ALL sell orders.

Simply stated: Trading in single satoshis can net upwards of a 10% increase per trade. Trading over 10 sats lowers this quick buy/sell profit potential to under 10%. Break out a calculator and see for yourself. Altcoin markets are popular simply for this reason, and this reason alone. Nobody cares about "features", nobody cares about the dev teams, and nobody cares about a "cause". It's literally all hype and market manipulation. Look at some coins recently that were obviously scams and massive fails like AsiaCoin, yet for some reason those continue on because nobody gives a shit. Shit on Poloniex like "Limecoin Lite" that was sold even before the coin was *invented and released*, which to my knowledge to this day hasn't happened yet but it still trades. They just look at numbers and how to manipulate them.

You guys forget that this is a Chinese exchange and they are AMAZING at this. Chinese absolutely LOVE to gamble, and since they can't here as gambling is illegal in China, cryptos are a way to gamble and not an investment.

I think the only way for this coin to break the cycle is either deeply integrate with NXT as a "silver", and seriously step up our game with utility. By utility, I don't mean buying stuff online (because honestly, even if the website takes BTC I still use my credit card, I did that today with VPN service), but doing things like making a secure online wallet publicly accessible for all and removing the tech barrier that is keeping cryptos stuck in toxic online forums. This "boys club" attitude needs to stop. Bounties are pointless because it doesn't elicit professional work, it just "gets the job done". Seriously, hire the right people to get the job done right.

There's a word in Taiwanese with means "people that got rich quick by pure luck and have no class", and that's my sentiment towards cryptos now. Whatever happens with this coin in the future, it needs to not be a repeat of the others. Otherwise, I'm calling it quits completely on crypto, mostly out of disappointment that so many people have fucked up a concept that could change the world. I've spent a considerable amount of time and energy supporting both Noblecoin (that guy is an unqualified, lying scumbag and everyone should stay clear), and EMC2 which was an amazing idea but was spearheaded by that scam artist bob something whom everyone is familiar with now and he fucked that all up. He commissioned me to provide a Chinese localization and tried to undercut my firm's actual rate by 1/3 and refused to pay. I eventually got it out of him, but the lack of professionalism displayed by all of these coins is disgusting. These coins are products and need to be treated as such. Coders are not traders/bankers/marketers/advertisers/account-managers/business-advisors, and need to stop pretending they are. There's a reason we all use banks and nobody uses crypto. Bank lobbies look nice and have friendly staff, but we all have to look at under construction websites rushed together, bitchy, self-entitled (for absolutely no reason, might I add) developers, and non-functioning markets based in Serbia? F that.

I run a successful media business in Asia and cryptos have brought me nothing but anguish and stress for the past year. I cannot waste any more of my time using my resources and skills trying to help causes and coins I want to support to be continually disappointed and disrespected like "I don't understand". For anyone who is curious, look through my previous posts for proof that I'm not retarded.

Credit to MaWo and Nxtblg for being very responsible devs, although I do wish they would act on my recommendations more quickly because I know what I'm talking about. I'm not a 19 year old who can install a graphics card, or a "gamer" who believes this is some sort of natural extension to my hobbies. I do not sit in trollboxes to lie to people, it is so classless and disgusting to deliberately mislead someone for a quick profit. I do not have time to sit around here any longer wishing for coins to gain in value. I'm getting stressed from the stupidity that routinely happens in this crypto "community" (whatever the hell that means), and then some new "prodigy" comes along and everyone falls for that guy's tricks. Then the cycle repeats.

As an honest businessman, I no longer feel comfortable participating in this crypto bullshit charade, which is now just like playing a slot machine. I believe this concept can change the world, especially for places that don't have govt/banks that function as well as ours do. Hours upon hours spent in these chatrooms, writing code for people, translating and not getting paid, my suggestions being ignored (only to be done by someone else terribly 2 months later), all for what? A few thousand dollars? Totally not worth it.

Things that need to be done ASAP:
Publicly accessible wallet so I don't have to type a friggin terminal command to use it. I said this a month ago and it hasn't been implemented yet. It takes a maximum 6 hours to do the method I mentioned before in a PM.
The weird version numbering and date system looks unprofessional.
The wallet layout is confusing and there needs to be a professional web developer to completely revamp it. I don't care about the assets or forged balance, or even the version number. I also don't care about the recent blocks. That is not relevant to daily usage.
Drop the whole sob story about being scammed and rising from the ashes. Nobody cares.
Focus on following the development of NXT, but the vanilla clone aspect is (in my opinion) pointless. Why wouldn't I just get NXT instead? What is the difference between NFD, NAS, and NTX again?
Increase the amount of and streamline the asset exchange and explain what the hell that is.
Professional translations and not begging someone who "just speaks the language".
Stop the associations with other bull alt coins and focus on BTC and LTC trade. Those are the only feasible coins.


Good luck to NFD, and I swear to god if I see someone type "to the moooooooooon" one more time.....

[Pentamon]

Excellent post.

(excellent stuff cut out)

There's a word in Taiwanese with means "people that got rich quick by pure luck and have no class", and that's my sentiment towards cryptos now.

There was an abbreviation that arouse out of english private schools, where people of no nobility were admitted because their families had lots of money. After their name, they wrote: s.nob.  which is short for 'sine nobilitate'
Snob for short.

Things that need to be done ASAP:
Publicly accessible wallet so I don't have to type a friggin terminal command to use it. I said this a month ago and it hasn't been implemented yet. It takes a maximum 6 hours to do the method I mentioned before in a PM.
The weird version numbering and date system looks unprofessional.
The wallet layout is confusing and there needs to be a professional web developer to completely revamp it. I don't care about the assets or forged balance, or even the version number. I also don't care about the recent blocks. That is not relevant to daily usage.
Drop the whole sob story about being scammed and rising from the ashes. Nobody cares.
Focus on following the development of NXT, but the vanilla clone aspect is (in my opinion) pointless. Why wouldn't I just get NXT instead? What is the difference between NFD, NAS, and NTX again?
Increase the amount of and streamline the asset exchange and explain what the hell that is.
Professional translations and not begging someone who "just speaks the language".
Stop the associations with other bull alt coins and focus on BTC and LTC trade. Those are the only feasible coins.


Good luck to NFD, and I swear to god if I see someone type "to the moooooooooon" one more time.....

Great suggestions

Pentamon

[mladen00]

nice post ma72835,
i agree with you

i dont understand dumpers who's selling @4 and 5sat.
I now lot's of these 4buy and 5sell bid's are from one person.

So ''real'' sellers... don't sell 4 cheap; this coin have potentiat for 30sat,
and if,when we become nxt silver sky is limit

[l8orre]

It's fairly obvious what is happening with trading of this coin. There isn't any dumping happening.
 

Things that need to be done ASAP:
Publicly accessible wallet so I don't have to type a friggin terminal command to use it. I said this a month ago and it hasn't been implemented yet. It takes a maximum 6 hours to do the method I mentioned before in a PM.
The weird version numbering and date system looks unprofessional.
The wallet layout is confusing and there needs to be a professional web developer to completely revamp it. I don't care about the assets or forged balance, or even the version number. I also don't care about the recent blocks. That is not relevant to daily usage.
Drop the whole sob story about being scammed and rising from the ashes. Nobody cares.
Focus on following the development of NXT, but the vanilla clone aspect is (in my opinion) pointless. Why wouldn't I just get NXT instead? What is the difference between NFD, NAS, and NTX again?
Increase the amount of and streamline the asset exchange and explain what the hell that is.
Professional translations and not begging someone who "just speaks the language".
Stop the associations with other bull alt coins and focus on BTC and LTC trade. Those are the only feasible coins.


Good luck to NFD, and I swear to god if I see someone type "to the moooooooooon" one more time.....

no I don't think so either. If one adds up the volume on BTER, there are ca. 500 Million NFD sitting there. That is roughly 10% of the total volume, hence only a very small part.

Focus on following the development of NXT, but the vanilla clone aspect is (in my opinion) pointless. Why wouldn't I just get NXT instead?

Because a DUAL standard with different abundancies is the whole point. That is why you would want to get NXT AND NFD.
Also, because NFD is undervalued as compared to NXT, but that is temporary.

What is the difference between NFD, NAS, and NTX again?

NAS and NXT don't work with the original NXT API. NFD does. (please correct me if I am wrong- I haven't checked lately)

Maybe you will understand this when you see the dual asset exchange with NFD and NXT directly coupled to each other?
Apart from that, all the NXT stuff is open source, so the tremendous amount of work that has been put into that does not have to be repeated by the very limited resources of NFD. That's the whole point about open source.
So why not take the NXT stuff? As soon as anybody promises outlandish features, the compatibility breaks.

[CoinKombinat]

Anyone who wants to build up a promotion group with me and others ?

ma72835 ?
kodtycoon ?
anyone else ?

we need a big promotion campagne, wide spreaded over all social areas. anyone who contact blog writer etc. write me a PM or something and we could do the work together 

[capoeira]

It's fairly obvious what is happening with trading of this coin. There isn't any dumping happening.

Due to the volatility in (low) price, it's very feasible to quickly increase your holdings by relatively high percentages. Think of it this way: if you sell at 5 and buy back at 4, you pick up an additional 20% worth of coin. It's not about making money on trades ATM with this coin, it's about taking advantage of volatility to increase holdings. The lower the value, the higher the return. How else would anyone explain 5+ BTC orders on both sides? It's the reason Mintpal is so popular as an exchange. With high trade volume there is extremely high volatility, and those that pay enough attention can pick up small amounts of money all day long by hedging themselves and staring at the screen for changes.

Trades between 4 and 3 pick up an 33% increase, etc. The value will not increase as it is extremely profitable to trade on these low numbers. We need to do something drastic to pull the coin out of single digits.

i've always seen this "advantage" but never traded this....at the end you gamble

[MaWo]

...

You have many good suggestions and in the main I have the same opinion. I want to solve real problems and make NFD as easy that a man of the street can use it.
That's why I chose to implement i18n and not anonymization or other hyped stuff to pump a coin. Next ideas are to hide deadline and other stuff for not advanced users.
A complete new simple gui would be really nice.

Our main problem is that we don't have full time developers. Currently lordoliver and I develop for NFD.
Both of us already have another full time job to pay our bills. We also have a girlfriend, family, ...  I have a child.

We develop in our spare time. Daily I can spend only 2 or 3 hours for NFD. Most of the time I'm answering questions and discuss ideas in pms.
That's why everything is slowed down.

I would really love to develop  full time for NFD, but I'm living in Germany. I would need a salary of at least 7 btc a month to pay my bills. (tax and insurances included)

We are still looking for developer. There are many project ideas:

Development:
hire a full time developer (50 mio NFD + x BTC)
core: add upnp support  --> https://code.google.com/p/weupnp/
core: 1-click wrapper for NFD client (3rd party Skerberus or advanced installler for java 499$)
core: Stay involved with CIYAM/AT, CFB/smart contracts
gui/client: Make a secure wallet system contrary to brainwallet
website: website localization (lordoliver)

work in progress:
BOUNTY (10 mio NFD): block explorer upgrade (overseen by MaWo/lordoliver)
client localization (lordoliver, MaWo)

Documentation & Localization
translations to Chinese; Spain, French, German, ...
FAQs, about, & get-started page
Manual/video for GUI including translations to spain, english, chinese
documentation of peer server JSON protocol to make it easier to build new full featured clients

create an offspring fork for NFD
android client incl. faucet system based on unique phone id, adapte NXT one (richwang)
iphone client incl. faucet system based on unique phone id
leasing pool (open source)
anonymisation system as a service (open source)
full automated gateways to other crypto currencies (open source)
top 3 cms and foren software NFD tipbot plugin
games - good games - browser, android, facebook games
gateway NFD/fiat
NFD online wallet and tools. abuelau  work - https://wallet.mynxt.info/ " https://github.com/mynxt-info/wallet
API for shops to fiat bridge  (Bitpay-type integration)
An NFD "plug and play" widget that could enable a shopper to buy something for NFD with one click
Goods shop for NFD as example (NFD promotion article)

infrastructure:
network statistics with graphs
peerexplorer
auto setup scripts for vps/step-by-step guide to setting up a node.

Marketing & Community (Nxtblg):
setup facebook, twitter (Nxtblg)
setup reddit (CoinKombinat, Nxtblg)
setup faucet
newsletter with hottest news every month, new releases

+ all upcoming ideas from Nxtblg

[NoirSuccubus]

Well said. Add this guy to the team!!

[Vendettacoin]

wow, a large dumping @4 sat in the last few hours on bter.

[mladen00]

wow, a large dumping @4 sat in the last few hours on bter.

I don't understand why some peoples are trying to sell (putting sell orders)  below @10sat?
I know that some investors are putting sell orders @5 and buy orders @4

[dzarmush]

wow, a large dumping @4 sat in the last few hours on bter.

I don't understand why some peoples are trying to sell (putting sell orders)  below @10sat?

I sold all my NFD yesterday to get into Crypti IPO. I even lost some coz before that I bought more NFD on coin-ga.me at higher price. But when I saw how many people are selling low I decided that I'll be able to buy NFD back later after I make some money on Crypti.

This decision has nothing to do with NFD potential which is great I think. I also sold my NEM stake and all NXT I had. All three coins have a huge potential but their IPO is over and it's impossible to make x10-x20 with these coins while in new IPOs it's possible. I guess I wasn't the only one. That's why all 2nd gen coins go down. People are selling in order to get in another IPO.

[mladen00]

buyers wall @4sat gone, i hope nobody is try to sell for 3sat

[bestcoinever]

buyers wall @4sat gone, i hope nobody is try to sell for 3sat

some people will dump, this will make them panic

[JulioCesar]

NFD is an example that fair distribution is also not gurantee of success 

[CoinKombinat]

NFD is an example that fair distribution is also not gurantee of success  

I dont share ure opnion with this post. After this short period of time we could say that. This is not really a NEW HYPE pump & dump coin where u could expect a x2 value after 2 days. There where a few coins out there but not anymore. Any new coin will start a IPO without a needing of it. Alot of people get in, but ... get annoyed. Because they get in, in a HYPE IPO and the HYPE of the IPO was the only positive thing, which this coins was experienced. After the IPO, if the coin starts his normal life most of the investors are gone away with a +30% invest or something.

this coin is a long-term runner, still be batient and help the community to build up a stable and trustful coin