MASTERCOIN VS NXT

[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. 

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[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.