MASTERCOIN VS NXT

[Blazin604]

Just wanted to get everyone's take on both of these coins. Which one do you think will prevail in the long run? I think Mastercoin has a better chance since it piggy backs on bitcoins blockchain...better security ...more adoption ect. thoughts? I am thinking of throwing some serious $$$ at NXT. Not really sure about it right now. I am not clear as to weather NXT will be able to co-exist with Bitcoin or is it a direct competitor? I also need to know if BTC and other cryptos can be traded through NXT. What are everyones views on the future? Do you see NXT over taking Bitcoin or bitcoin serving as a digital "gold" ....also I have a NXT wallet and it says im not secure unless I buy some NXT and send some out to someone? I am very confused about this as well..

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[DubFX]

I think it will be NXT but i'm not a fortune teller so nobody can be sure...it's mainly about the masses.

[BlackFor3st]

NXT

[Blazin604]

NXT isn't clear as to things like can it be broken down into smaller parts like BTC? Saying how much NXT doesn't sound as appealing as saying Bitcoin to me. There are no unit names ect...for it to truly work as a currency it needs all those things.

[BitAddict]

Nxt for sure.

NXT isn't clear as to things like can it be broken down into smaller parts like BTC? Saying how much NXT doesn't sound as appealing as saying Bitcoin to me. There are no unit names ect...for it to truly work as a currency it needs all those things.

Nxt currently has 8 decimals like bitcoin. Smaller part is called NxtQuant = 0.00000001 Nxt.

[Blazin604]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

[ChuckOne]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

Right, it uses blockchain technology. No need for a fancy capital letter.

nextquant <<< does not sound good? Sounds like Quantum Computing. Do you have a better name?

[ChuckOne]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

https://nxtforum.org/general-discussion/units-of-nxt/new/#new <<< fee free to add your ideas here

[Cassius]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

Neither does "dollarcent" or "sterlingpence".
I imagine that's why we don't say them.

[salsacz]

i think its nxt

[Canaanite]

I'm invested in both
but I think NXT will be the one who will make it

I like mastercoin Idea but they don't show any progress while NXT in half a year made a HUGE progress.
there is a reason why its #3 with the market cap and I believe it will be #2 soon as it has so much more to offer then Litecoin.

The only thing that worries me with NXT is the awful distribution

[ChuckOne]

i think its nxt

You do not say...

[Mrrr]

i think its nxt

Nemstake proved the asset exchange can succesfully be used for asset trading. Maidsafe proved MSC can be succesfully used to defraud people. So its NXT.

[PL_CoinTrader]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

Jep, nxt will certainly fall, because NXTquant doesn't sound good, lol.

[msin]

Does anyone still use Mastercoin?  Nxt has a developer community second only to BTC.  In 3 months you will be able to do 5x with Nxt that you can do right now, exciting times.

[Eadeqa]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

NXTquant is abbreviated  as NQT  --

[BitAddict]

whos going to want to say NXTquant. From a consumer standpoint that doesn't sound good at all. The unit names matter a lot. NXT doest even use Blockchain technology

In bitcoin we call it a Satoshi, and that is even worse because people not into bitcoin doesn't understand what that means.

In the future you can change the name or whatever, that's not a problem.

Each Nxt is $0.07, that means 1 NxtQuant is $0.0000000007.

[farl4web]

I believe Nxt has more to offer. Bitcoin is the pioneer and the pioneer most of the times gets beaten by the second big one. Besides that has Nxt a lot more to offer and has a great community.

I do have some MSC too btw, so… buy Mastercoin too!!

[BitAddict]

Does anyone still use Mastercoin?  Nxt has a developer community second only to BTC.  In 3 months you will be able to do 5x with Nxt that you can do right now, exciting times.

I bought and sold MaidSafe throught the Mastercoin system without having to buy Mastercoins... I used bitcoins... That means mastercoins are nearly useless...

[msin]

I bought and sold MaidSafe throught the Mastercoin system without having to buy Mastercoins... I used bitcoins... That means mastercoins are nearly useless...

Exactly.

[Hardeep Reddy]

Can LTC/BTC be exchanged on the NXT client or will that ever come

[Cassius]

Can LTC/BTC be exchanged on the NXT client or will that ever come

Soon. Multigateway is on the way.
Actually, NHZ already trades on the Asset Exchange, so it's possible for other crypto.

[Phinnaeus Gage]

The First 'Bitcoin 2.0' Crowd Sale Was A Wildly Successful $7 Million Disaster

[nutildah]

The First 'Bitcoin 2.0' Crowd Sale Was A Wildly Successful $7 Million Disaster

How do you feel about CounterParty (XCP) ?

[NamelessOne]

NXT all the way. There are a lot of people in the crypto community skeptical about its distribution and POS system, but it has so much innovation it is the only alt/second gen crypto I've been interested in thus far. There were a couple articles months back that demonstrated the distribution was actually very close to that of bitcoin's at the time. There are a couple big announcements coming from NXT in the coming weeks that apparently have big implications on its future growth/success. More and more people are starting to realize it is here to stay.

[Jessepinkman55]

I've been looking at both, and quite a few other coins as well.
Nxt development rate seems to far exceed any others, so I decided to invest a little bit into Nxt yesterday, and think I've joined at the right time as seems to be quite a few new features being added over the next few months.

[msin]

NXT all the way. There are a lot of people in the crypto community skeptical about its distribution and POS system, but it has so much innovation it is the only alt/second gen crypto I've been interested in thus far. There were a couple articles months back that demonstrated the distribution was actually very close to that of bitcoin's at the time. There are a couple big announcements coming from NXT in the coming weeks that apparently have big implications on its future growth/success. More and more people are starting to realize it is here to stay.

+1, I feel like distribution was an issue, but I also like the fact that the creator (BCNext) only took a measly 21BTC to launch the platform, his motivation was not monetary.  I smell scam when I see a whitepaper raise 1k BTC in today's IPO's and the creator claims it's for the purpose of "fair distribution".  Regardless, I think the development community for Nxt is better than any other crypto (including BTC).

[ShroomsKit_Disgrace]

LOL at the poll results.....

[allwelder]

NXT.
only one vote for MSC.

[Hardeep Reddy]

Do you guys see NXT coexisting with BTC..where do you see the price of each 1 year from now? I am seriously considering investing in NXT. When are we gonna see attention from major VC's? Is NXT even on their radar?

[Blazin604]

I doubt NXT is on any major VC'S radar...I'm not sure. Bitcoin will always be worth more imo

[Eadeqa]

I doubt NXT is on any major VC'S radar...I'm not sure. Bitcoin will always be worth more imo

Not yet, but coming soon. It's going to get major traction in six months once it's at #2 ahead of litecoin

[windjc]

NXT all the way. There are a lot of people in the crypto community skeptical about its distribution and POS system, but it has so much innovation it is the only alt/second gen crypto I've been interested in thus far. There were a couple articles months back that demonstrated the distribution was actually very close to that of bitcoin's at the time. There are a couple big announcements coming from NXT in the coming weeks that apparently have big implications on its future growth/success. More and more people are starting to realize it is here to stay.

+1, I feel like distribution was an issue, but I also like the fact that the creator (BCNext) only took a measly 21BTC to launch the platform, his motivation was not monetary.  I smell scam when I see a whitepaper raise 1k BTC in today's IPO's and the creator claims it's for the purpose of "fair distribution".  Regardless, I think the development community for Nxt is better than any other crypto (including BTC).

+1. I don't know if I would agree that it is better than BTC community, if you add all the eco-system developers around BTC.

However, I do agree that this is the SINGLE biggest point people do not realize about NXT who have no studied it. The developers (over 100 atm) working on NXT are talented. And the shear development that has occured in the the last 5 months is unprecedented.

NXT is the first alt since BTC to start to reach its own critical mass of innovation.  It will also be the second alt ever to have a 8 figure market cap.

Its coming.

[Blazin604]

Will never be worth more than litecoin. Max price $1 per nxt bitcoin will always be #1

[Eadeqa]

Will never be worth more than litecoin. Max price $1 per nxt bitcoin will always be #1

1$ puts it 1 billion marketcap ahead of litecoin current prices.  If a company like Overstock issues bonds/assets, the price will go up so fast you won't know what happened.  There is still entire world out there who have never heard about crypto, so making claims like "never" doesn't have any basis on facts.

[Blazin604]

Lol as the bitcoin price goes up litecoin will follow there is no way nxt can over take litecoin. Litecoin will be used for day to day purchases. NXT doesn't sound good u guys need to work on unit names

[BitAddict]

Will never be worth more than litecoin. Max price $1 per nxt bitcoin will always be #1

1$ puts it 1 billion marketcap ahead of litecoin current prices.  If a company like Overstock issues bonds/assets, the price will go up so fast you won't know what happened.  There is still entire world out there who have never heard about crypto, so making claims like "never" doesn't have any basis on facts.

And the best thing is that in Nxt you don't have inflation or miners selling a lot of coins to cover expensive hardware and electricity bills.  

Lol as the bitcoin price goes up litecoin will follow there is no way nxt can over take litecoin. Litecoin will be used for day to day purchases. NXT doesn't sound good u guys need to work on unit names

If you want we can bet, I'm sure until 2015 Nxt will be over Litecoin.

Now with ASICS arriving to Litecoin, and Gavin Andresen thinking about lowering bitcoin block times..... Bad times for Litecoin, it doesn't provide a lot these days.

[Eadeqa]

Lol as the bitcoin price goes up litecoin will follow there is no way nxt can over take litecoin. Litecoin will be used for day to day purchases. NXT doesn't sound good u guys need to work on unit names

Nxt sounds way better to me than "Litecoin" . Nxt will be ahead of litecoin before 2014 ends. That's my prediction anyway

[Blazin604]

You're saying ONE nxt will be worth over $10 before 2015?

[BitAddict]

You're saying ONE nxt will be worth over $10 before 2015?

No, I'm speaking about Market Cap.

Coin price means nothing if you don't look to total supply.

[Blazin604]

When will it hit $1

[Eadeqa]

You're saying ONE nxt will be worth over $10 before 2015?

No, one Nxt only needs to be 30 cents to be ahead of litecoin.  

Litecoin does not offer anything better than bitcoin. It will go down. Nxt offers decentralized asset exchange, decentralized goods store (coming NXT),  and tons of other features that if get picked up will shoot up the prices really fast.

Imagine porn studios start using digital good store .. that's billions of dollars of business

[Blazin604]

It sounds great however, NXT isn't grabbing the attention of any major investors do the developers have anything in the works at all to announce?

[nutildah]

It sounds great however, NXT isn't grabbing the attention of any major investors do the developers have anything in the works at all to announce?

Yes, but you'll have to do your own homework if you want to know more.

[Blazin604]

Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?

[Eadeqa]

Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?

No, I think that app isn't working anymore.

Just use online site https://wallet.mynxt.info/  if you need to use it on a smartphone.

otherwise use fully featured desktop version http://nxtra.org/nxt-wallet/

[nutildah]

Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?

Well it seems like you would bother doing your own research then, which is incredibly easy if you know how to work a Google.

[Blazin604]

Lol what a joke. No wallet for your smartphone?  And some of you say the development team is better than bitcoin...

[NamelessOne]

Lol what a joke. No wallet for your smartphone?  And some of you say the development team is better than bitcoin...

You must remember that BTC has had 5 years to grow. NXT has had 7 months and has made incredible growth but it is only 7 months. When I first heard of NXT I jumped on board immediately. I hadn't been that excited since first hearing of Bitcoin in June 2011. Back then there were no real venture capitalist investors, no angels, just people working their butts off to create the community and develop infrastructure. That is what NXT is doing right now. People believe in it far more than I've seen anyone believe in the alts. NXT isn't really an ALT ripoff coin anyway, all new code, second gen crypto.

I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.

[bluemeanie1]

i think its nxt

Nemstake proved the asset exchange can succesfully be used for asset trading. Maidsafe proved MSC can be succesfully used to defraud people. So its NXT.

sorry, that was proven long before NEMstake came along.  -bm

[nutildah]

I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.

I think there will be room for hundreds of altcoins in the future, each serving its own niche function. The reason why there are only 4 or 5 major credit card companies is because anything close to a competitor gets bought or legislated out of existence, similar to how Ebay and Amazon deal with other online merchants.

Since cryptos are currencies and not companies they are not responsible to shareholders, they don't necessarily have motivation to swallow each other whole or knock each other out of business.

[Spekulatius]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.

A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.

[Eadeqa]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department.

If that were true, bitcoin would be the most failed coin as it has very bad distribution. Litecoin and peercoin are even worse.

"Fair distribution" is total myth since unless you evenly distribute it to all 7 billion humans on earth, everything would be considered "unfair." In the end as bitcoin has shown it doesn't matter as people still buy bitcoin despite the bad distribution where just one person owns 10% and only few dozen own 40%

[bluemeanie1]

Don't tell me what to do I'm asking for a reason. I got major bank to throw at nxt myself so shut ur mouth. Is the NXT app in the android store even legit?

No, I think that app isn't working anymore.

Just use online site https://wallet.mynxt.info/  if you need to use it on a smartphone.

otherwise use fully featured desktop version http://nxtra.org/nxt-wallet/

http://nxtblocks.info is releasing a web wallet soon as well.

also it will be fully secure, no private keys on the server(all JS crypto).

-bm

[nutildah]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.

A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.

There's no such thing as a truly fair distribution model.

When startup companies launch, when they have a stock IPO... do they attempt to distribute stock to people equally or do they distribute it based on who has the most interest in it and is therefore willing to pay the most time and money for it?

Trust me, your concern was the same as mine for a month or so. But it dawned on me that this isn't some AsiaCoin or ShibeCoin that was created with the word "scam" in the subconscious of its devs. NXT was meant to be a lasting movement. And if you haven't noticed, the price action of late confirms I'm not alone in my beliefs.

[Spekulatius]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.

A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.

There's no such thing as a truly fair distribution model.

When startup companies launch, when they have a stock IPO... do they attempt to distribute stock to people equally or do they distribute it based on who has the most interest in it and is therefore willing to pay the most time and money for it?

Trust me, your concern was the same as mine for a month or so. But it dawned on me that this isn't some AsiaCoin or ShibeCoin that was created with the word "scam" in the subconscious of its devs. NXT was meant to be a lasting movement. And if you haven't noticed, the price action of late confirms I'm not alone in my beliefs.

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

[Eadeqa]

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

Even Aurora that were distributed were dumped immediately by icelanders and exchanged into btc. So much for adaption.  Anything that is distributed to a very large group for free will not have any value. I doubt the idea will ever work.

[thoughtfan]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.

A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.

If a 2.0 release is the way to overcome the initial distribution issue would launching one as a spin-off do the trick (though I'll admit I don't know how that would work with a PoS coin)?

[NamelessOne]

I don't see NXT replacing BTC. I could see a future in which a couple cryptos co-exist. Visa, Mastercard, American Express.

I think there will be room for hundreds of altcoins in the future, each serving its own niche function. The reason why there are only 4 or 5 major credit card companies is because anything close to a competitor gets bought or legislated out of existence, similar to how Ebay and Amazon deal with other online merchants.

Since cryptos are currencies and not companies they are not responsible to shareholders, they don't necessarily have motivation to swallow each other whole or knock each other out of business.

For sure, hundreds will always exist, but I doubt more than a handful will reach a useful mainstream status and mean anything to the world economy.

[windjc]

Lol what a joke. No wallet for your smartphone?  And some of you say the development team is better than bitcoin...

Go to nxtforum.org and read your ass off.

Come back here in a month and tell us everything you learned.

[jabo38]

I am so pissed I bought Mastercoin.  It has since gone down and down and down.  After 7 months, they had one good release with Maidsafe, and that actually turned out to be a mess and an apparent pump for Mastercoin holders to dump large amounts (to people like me). 

Now NXT AE has been online weeks, not months and already has a dozen of assests, most of which I think are spam and junk, but at least they work they are not a pump the way Maidsafe was.  They are free market and fair pumps.

But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together.  This has been a huge win for NXT.  It has shown that the NXT AE can and does work like it is suppose to.  In that aspect, NXT in just days has done what hasn't even done even once in a year. 

[Eadeqa]

But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together. 

This can't be true. I remember sianote (another IPO) made close to 2 million nxt in like 3 or 4 says days, He ended the IPO pretty fast though as he met his goal.

NxtAT got close to 2 million Nxt very fast too

[nutildah]

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

NEM is the best with the distribution concept. Great team too. The next big thing.

I have to hand it to NEM. Their distribution concept is novel by any definition. Whether or not it has much success, we'll have to find out.

[Ryota]

I see 3 major problems with NXT to become a major payment network.

1> Its distribution to 73 big stakeholders through an IPO.

It will be difficult to justify, a lot of people find this outrageous.
It's already difficult for Bitcoin (62% of survey respondents think bitcoin is a scam).

2> POS system.

Miners are important parameters in the ecosystem and marketing.
Investors are important to miners and miners are important to investors.
Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets.

3> JAVA

Probably the worst.
Java is considered bad by many developers. Java is trying to install a shitty toolbar every time you install it or update and it is so insecure.
No open source programmer would ever use it.
Many people don't like Java and they will never add it (I believe it's why mcxnow never added it because it's Java client).
C/C++ are languages of choice of the industry. A C++ client should be developped to become something “professional and credible”.

[Eadeqa]

I see 3 major problems with NXT to become a major payment network.

1> Its distribution to 73 big stakeholders through an IPO.
It will be difficult to justify, a lot of people find this outrageous.
It's already difficult for Bitcoin (62% of survey respondents think bitcoin is a scam).

Didn't seem to hurt bitcoin, much. IPO was open for anyone 2 months on this forum.

2> POS system.

Miners are important parameters in the ecosystem and marketing.
Investors are important to miners and miners are important to investors.
Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets.

This can and has been used as marketing tool. PoW wastes energy. Nxt is green. It will be a pro when it comes to marketing.

3> Java

Probably the worst.
Java is considered bad by many developers. Java is trying to install a shitty toolbar every time you install it or update and it is so insecure.
No open source programmer would ever use it.
Many people don't like Java and they will never add it (I believe it's why mcxnow never added it because it's JAVA client).
C/C++ are languages of choice of the industry. A C++ client should be developped to become something “professional and credible”.

This quote above shows a basic lack of understanding from someone who has never been a programmer. Java is a programming language. It's Oracle's applet (a web browser plugin) that  has security issues.  It's much easier to write secure software in Java than in C. There is also OPenJDK which is free and open source.  

Java remains the most popular programming language for server side. If you have ever used Amazon and Ebay, the server side was run by Java.  Almost all banks use Java on server side. So you already use Java as a client everyday.

NRS is a server application (it's not a web browser applet with security problems).  The client side can be written in any programming language.

[Ryota]

This shows basic lack of understanding from someone who has never been a programmer. Java is a programming language. It's Oracle's applet (web browser plugins) that  has security issues.  It's much easier to write secure software in Java than in C. There Is also OPenJDK which is free and open source.  

Java remains the most popular programming language for server side. If you have ever used Amazon and Ebay, the server side was run by Java.  Almost all banks use Java on server side. So you already use Java as client everyday.

NRS is a server application (it's not a browser applet with security problems).  The client side can be written in programming language.

No need to explain what is java, I know. They use only servlets, not the rest.

Java is a programming language interpreted by the JVM (java virtual machine) and when you install it or update it, it tries to install a shitty toolbar.

But I am ok with you, it's much easier to write in Java than in C...

[Eadeqa]

This shows basic lack of understanding from someone who has never been a programmer. Java is a programming language. It's Oracle's applet (web browser plugins) that  has security issues.  It's much easier to write secure software in Java than in C. There Is also OPenJDK which is free and open source.  

Java remains the most popular programming language for server side. If you have ever used Amazon and Ebay, the server side was run by Java.  Almost all banks use Java on server side. So you already use Java as client everyday.

NRS is a server application (it's not a browser applet with security problems).  The client side can be written in programming language.

No need to explain what is java, I know. They use only servlets, not the rest.

Java is a programming language interpreted by the JVM (java virtual machine) and when you install it or update it, it tries to install a shitty toolbar.

What do you mean "not the rest"? They will "use" whatever is needed.

There is also open JDK if someone doesn't want to install Oracle's version. http://openjdk.java.net/

By the way, did you know that Gmail is written in Java and compiled to javascript? http://programmers.stackexchange.com/questions/197031/why-does-gmail-use-java-is-there-really-a-advantage-over-something-like-php-or

Not to mention all Android apps are written in Java too. Plus twitter has migrated to Java

Java remains top 3 most used programming language

[pandaisftw]

Im not sure either of these will make it. They both have huge deficiencies in the fair distribution department. The situation reminds me of Bytecoin with it's innovative technology appearing on the screen but 83% already mined and concentrated in the hands of only a select few. Monero simply had to clone it with a fair launch and became CryptoNight chain #1 overnight.

A successful 2.0 coin should embrace that lesson and implement a fairer distribution model to keep gathering followers and remain fair among its competitors.

There's no such thing as a truly fair distribution model.

When startup companies launch, when they have a stock IPO... do they attempt to distribute stock to people equally or do they distribute it based on who has the most interest in it and is therefore willing to pay the most time and money for it?

Trust me, your concern was the same as mine for a month or so. But it dawned on me that this isn't some AsiaCoin or ShibeCoin that was created with the word "scam" in the subconscious of its devs. NXT was meant to be a lasting movement. And if you haven't noticed, the price action of late confirms I'm not alone in my beliefs.

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

I'm not convinced that even if you gave every human in the world (or a country) "free" coins, the coin would succeed. Here is my post when Auroracoin was nearing $1bil marketcap:

https://bitcointalk.org/index.php?topic=497736.0

And we all know where Auroracoin is now. Regardless of any other problems Auroracoin had, the basic supply-and-demand economic principles apply. Additionally, people don't "hold" what they don't perceive as valuable, hence the huge dump. This means that with any "perfectly fair" distribution, the moment the currency is traded, the distribution is suddenly skewed to those who are: a) smarter and b) have the money to buy it up.

A coin cannot succeed on distribution alone (or community, if you want to call it that) - this has been proven again and again. There may be short-term hypes like dogecoin, but people eventually get bored if there is absolutely zero development.

I would like to hear your side of why you think *initial* distribution is all-important. What if initial distribution was not great, but now the distribution is better than Bitcoin (in the case of NXT)? Why does initial distribution matter anyways - other than jealousy? Is there any evidence that a a large initial distribution = long term success? (I cannot find any) Bitcoin and litecoin both have terrible distributions (worse than NXT), yet they are #1 and #2, respectively.

Pandaisftw

[jabo38]

But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together. 

This can't be true. I remember sianote (another IPO) made close to 2 million nxt in like 3 or 4 says days, He ended the IPO pretty fast though as he met his goal.

NxtAT got close to 2 million Nxt very fast too

By volume for the last week. http://nextblocks.info/#section/assets_exchange/12465186738101000735

[Tai Zen]

I doubt NXT is on any major VC'S radar...I'm not sure. Bitcoin will always be worth more imo

VC's don't have a choice if NXT is on their radar or not because it has been in the top 10 coins traded since day 1 on coinmarketcap.com.  It's not one of those things u can ignore.

Tai Zen

[Tai Zen]

Will never be worth more than litecoin. Max price $1 per nxt bitcoin will always be #1

1$ puts it 1 billion marketcap ahead of litecoin current prices.  If a company like Overstock issues bonds/assets, the price will go up so fast you won't know what happened.  There is still entire world out there who have never heard about crypto, so making claims like "never" doesn't have any basis on facts.

And the best thing is that in Nxt you don't have inflation or miners selling a lot of coins to cover expensive hardware and electricity bills.  

Lol as the bitcoin price goes up litecoin will follow there is no way nxt can over take litecoin. Litecoin will be used for day to day purchases. NXT doesn't sound good u guys need to work on unit names

If you want we can bet, I'm sure until 2015 Nxt will be over Litecoin.

Now with ASICS arriving to Litecoin, and Gavin Andresen thinking about lowering bitcoin block times..... Bad times for Litecoin, it doesn't provide a lot these days.

I agree that a lot of alt coins will be in trouble when btc increases their transaction speeds which is not a big deal like everyone thinks.

You can not compare nxt to ltc or any other alt coin because ltc n others were created to include a specific feature that btc does not have.  Whereas, NXT was created to be a full feature independent platform.  In other words they didn't go out n say we need faster transaction speeds so lets buildd a new altcoin centered around transaction speed like ltc or others. or lets focus on anonymity like darkcoin etc.

NXT is focused on fiancial innovation so it was designed from the ground up to include other features when necessary so u don't have to go out n recreate the blockchain again.

So comparing nxt to other alts is not an apples to apples comparison.

I'm not necessarily saying nxt is way better it's just way different in approach n design.

Tai Zen

[Tai Zen]

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

NEM is the best with the distribution concept. Great team too. The next big thing.

I have to hand it to NEM. Their distribution concept is novel by any definition. Whether or not it has much success, we'll have to find out.

Any coin that focuses on fair distribution or any type of gimmicky feature will sooner or later fail.  You can not innovate based on one feature that has no worth or value in the real world. only a handful of broke folks ever complain about unfair disitribution cuz they live in a world of "scarcity".  if u live in a world with an "abundance" mindset. u don't pay attention to nonsense such as unfair distribution.

a coin can not succeed when it attempts to focus on just one feature.  the entire coin, network, etc has to be innovative.

We might not hear from NEM by next year.

Tai Zen

[bluemeanie1]

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

NEM is the best with the distribution concept. Great team too. The next big thing.

I have to hand it to NEM. Their distribution concept is novel by any definition. Whether or not it has much success, we'll have to find out.

Any coin that focuses on fair distribution or any type of gimmicky feature will sooner or later fail.  You can not innovate based on one feature that has no worth or value in the real world. only a handful of broke folks ever complain about unfair disitribution cuz they live in a world of "scarcity".  if u live in a world with an "abundance" mindset. u don't pay attention to nonsense such as unfair distribution.

totally agree with you here!

the NEM people lacked the vision for what you can do with NXT as it is, and there are great opportunities there.  There are lots of features coming out(like VCorps) and people will use these things to build real value.  This isn't bitcoin- NXT lets people collaborate and build collective wealth which is something that has been happening since the dawn of civilization.  (Cue Wagnerian opera music).

-bm

[ChuckOne]

I see 3 major problems with NXT to become a major payment network.

1> Its distribution to 73 big stakeholders through an IPO.

It will be difficult to justify, a lot of people find this outrageous.
It's already difficult for Bitcoin (62% of survey respondents think bitcoin is a scam).

I cannot believe that is still an issue.

2> POS system.

Miners are important parameters in the ecosystem and marketing.
Investors are important to miners and miners are important to investors.
Both Bitcoin and Litecoin had a huge amount of miners on-board before anyone started using it in markets.

So what?

3> JAVA

Probably the worst.
Java is considered bad by many developers. Java is trying to install a shitty toolbar every time you install it or update and it is so insecure.
No open source programmer would ever use it.
Many people don't like Java and they will never add it (I believe it's why mcxnow never added it because it's Java client).
C/C++ are languages of choice of the industry. A C++ client should be developped to become something “professional and credible”.

Feel free to re-program the server in C++, C, Assembler, Python, Ruby. And feel free to program clients in ObjectivC for iOS, Java for Android, for WinRT in JS+HTML+CSS or C#+YAML.

I do not see why the programming language has anything to do with something language-agnostic as the Nxt Protocol. It is a protocol; the programming language is completely irrelevant.

[bluemeanie1]

what the Java nay-sayers forget to mention is how it's enabling NXT to develop features RAPIDLY and that's exactly what's causing it to flourish.

these old arguments about Java security has no bearing.  I've worked for major FIs as a Java architect and basically the argument goes like this:

JAVA IS INSECURE!

why?  because this system that was built in Java was compromised!

OK- so this system is better?

yes!

but it was built in C and many systems built in C have been compromised.

that's the because the developer didn't know what they were doing!

etc. etc.

it's an old canard and it's been around forever.

-bm

[msin]

At least the 4 core devs of Mastercoin came out and voted for their coin, they should be commended for the effort.

[Carra23]

Does anyone still use Mastercoin?  Nxt has a developer community second only to BTC.  In 3 months you will be able to do 5x with Nxt that you can do right now, exciting times.

I bought and sold MaidSafe throught the Mastercoin system without having to buy Mastercoins... I used bitcoins... That means mastercoins are nearly useless...

Except that you paid a lot more buying through bitcoins.

[Eadeqa]

But NXT AE has also released NEM, which is worth more than all the other assets on the AE put together. 

This can't be true. I remember sianote (another IPO) made close to 2 million nxt in like 3 or 4 says days, He ended the IPO pretty fast though as he met his goal.

NxtAT got close to 2 million Nxt very fast too

By volume for the last week. http://nextblocks.info/#section/assets_exchange/12465186738101000735

This is volume for 30 days

http://www.cryptoassetcharts.info/assets/info

[BitAddict]

Does anyone still use Mastercoin?  Nxt has a developer community second only to BTC.  In 3 months you will be able to do 5x with Nxt that you can do right now, exciting times.

I bought and sold MaidSafe throught the Mastercoin system without having to buy Mastercoins... I used bitcoins... That means mastercoins are nearly useless...

Except that you paid a lot more buying through bitcoins.

That was used as a pump&dump scam to get rid of their Mastercoin. 20% of total Mastercoin supply was used in 3 hours to buy MaidSafe... That's how much strong hands like Mastercoin.

Also look Mastercoin's volume and orderbook, once you buy you are trapped bag holding.

BTW: I like Mastercoin idea, but the coin itself is not worth investing. Same applies to Ripple idea and XRP.

[ChuckOne]

That was used as a pump&dump scam to get rid of their Mastercoin. 20% of total Mastercoin supply was used in 3 hours to buy MaidSafe... That's how much strong hands like Mastercoin.

Also look Mastercoin's volume and orderbook, once you buy you are trapped bag holding.

BTW: I like Mastercoin idea, but the coin itself is not worth investing. Same applies to Ripple idea and XRP.

Sad to hear.

[Carra23]

Does anyone still use Mastercoin?  Nxt has a developer community second only to BTC.  In 3 months you will be able to do 5x with Nxt that you can do right now, exciting times.

I bought and sold MaidSafe throught the Mastercoin system without having to buy Mastercoins... I used bitcoins... That means mastercoins are nearly useless...

Except that you paid a lot more buying through bitcoins.

That was used as a pump&dump scam to get rid of their Mastercoin. 20% of total Mastercoin supply was used in 3 hours to buy MaidSafe... That's how much strong hands like Mastercoin.

Also look Mastercoin's volume and orderbook, once you buy you are trapped bag holding.

BTW: I like Mastercoin idea, but the coin itself is not worth investing. Same applies to Ripple idea and XRP.

Regardless it still means you could have got maidsafe cheaper with mastercoin. Mastercoin can try more stunts like this in te future.

[Spekulatius]

Auroracoin showed how it can be done, although they ultimately failed for a couple of reasons, the concept is good. Maybe in a decade from now a similar thing will be done with a Bitcoin successor, who knows.

NEM is the best with the distribution concept. Great team too. The next big thing.

I have to hand it to NEM. Their distribution concept is novel by any definition. Whether or not it has much success, we'll have to find out.

Any coin that focuses on fair distribution or any type of gimmicky feature will sooner or later fail.  You can not innovate based on one feature that has no worth or value in the real world. only a handful of broke folks ever complain about unfair disitribution cuz they live in a world of "scarcity".  if u live in a world with an "abundance" mindset. u don't pay attention to nonsense such as unfair distribution.

I agree with you that the fair distribution aspect on its own cannot secure a long term success. It depends on utility x scarcety to create (=) value. Only when a currency has those two qualities it will be used. Nevertheless a fair distribution can greatly contribute to the long term success of any given currency in a competitive environment such as the cryptocoin space. In a theoretical case of two contenders (Acoin and Bcoin) with equal qualities and environment, the one that manages to be more equally and broadly distributed would win out over the one that pursues a narrow distribution imo. The main causes would be network effects which constitute higher adoption, recognition, larger community in holders, developers and investors and faster innovation rate. A real world example that comes close to the hypothetical case described may be the Monero/Bytecoin case where both chains have been introduced to the public almost simultaneously, they have almost the same qualities (Monero is a clone of Bytecoin with slower emission schedule and faster block times) but differ in the distribution by a large extent (Bytecoin 83% stealth mined, Monero 0% pre/stealthmined). Monero in opposition to Bytecoin has already achieved a huge appreciation in price, market cap and daily volume, however this case is very young and no conclusions can be drawn regarding the long term development of this case.

Your second argument goes in the direction of what has been mentioned here before and is also valid: that in order for acceptance a currency has to be perceived as valuable by its holders or it will be dumped at the first best occasion. In case of Auroracoin this perception was most likely not present with most of its target group. Thus the biggest part of the claimed coins were dumped immediately. With floating exchange rates and legal tender laws not strictly enforced, the reverse case of "Gresham's Law" applies, which praphrased states that "Good Money will drive bad money out of circulation into savings". Good money being the one with most perceived value compared to its exchange rate. So yes, with value people will accept the new coin and try to accumulate it (like Bitcoin). Without value, they will dump it for any other currency (like they did with Auroracoin for Krona).

Because this discussion kind of de-rails this thread I have cross-posted my response to:
Most efficient distribution strategies
https://bitcointalk.org/index.php?topic=528261.msg7456628#msg7456628

[ChuckOne]

I might correct that to:

The broader distribution of else-equal coins will make the difference.

Fairness does not matter.

[Spekulatius]

I might correct that to:

The broader distribution of else-equal coins will make the difference.

Fairness does not matter.

Thx. I would agree in so far as fairness is less significant for a positive outcome as broad distribution but I think it does matter though. Think of the negative perception. If anything is premined or stealth mined to a significant percent (greater the 5%) nowadays it carries a stigma. (I recommend this good read: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins) Few coins stick out in this dimension of competition, such as Monero or Counterparty (where everybody including the devs burned their Bitcoins in order to get XCP). Bitcoin would not pass so easily today as it did in 2009, simply because there was no competition back then.