NXT innovation -gets a special mention at the end of my Crypto educational Blog

[CryptoGuu]

quark is dead bro.

[EvilDave]

ok guys it that better?

i put up a disclaimer, i can see some people aren't happy with this thread ??

-- DISCLAIMER to people that have been SCAMMED by NXT --

-- PLEASE DON'T TAKE ANY OF THIS PERSONALLY, I'M JUST GOING THOUGH A CATALOG OF ALL THE CRYPTO SCAMS AND LISTING THE BEST ONES --

I've gotta point out the delightful fact that this thread has coincided perfectly with a 12% rise in NXT value.....its almost like free publicity or something....

Really, the problem I have here is that the OP only has one point to use against NXT, and that is the early distribution.
And early distribution bitching is just as applicable to almost all other cryptos: How many people mined BTC in the first 24 hours? Or LTC ? Or Quark ?
Its a very thin argument that kind of looks like jealousy....you got anything better, DI ?

[reRaise]

Hmm quarks price went from 23 to 24 during this Thread lol

[Daedelus]

And have you checked out the Nxt Multigateway yet Colin? Almost trustless crypto to crypto trading and it is here now  Did you put a link in your blog? You can test it yourself (small amounts mind, it is still quite new). I'd be interested to know how this ties into the big Nxt scam. Hundreds of hours and tens of thousands of lines of code, these are the most dedicated scammers I've ever seen 

[digitalindustry]

“Nxt is created, and the genesis block reveals that 1,000,000,000 coins were distributed to 73 stakeholders, with the proportion of coins received dependent upon the each stakeholder’s portion of the original funcraising total. Nxt’s original market capitalization was $800,000USD.”

http://wiki.nxtcrypto.org/wiki/Nxt_History


^^^^^^^^^^^^^


nope that's all anyone needs right there - and the rest can be up to them, good scamming well played.

[digitalindustry]

And have you checked out the Nxt Multigateway yet Colin? Almost trustless crypto to crypto trading and it is here now  Did you put a link in your blog? You can test it yourself (small amounts mind, it is still quite new). I'd be interested to know how this ties into the big Nxt scam. Hundreds of hours and tens of thousands of lines of code, these are the most dedicated scammers I've ever seen 

fantastic - well of course you are going to be dedicated if you are getting result and getting people in subsidizing your investment as you can sell into these suckers as you oh, you know, gave yourself 99 % of the units in one second.

[instacalm]

"digitalindustry", in all seriousness, are you having a mental breakdown right now? relax a bit man!

I hope after relaxing for a while you're going to realise that your incompetent statements are just exposing yourself to ridicule. I'm not sure whether that was your actual intention when you created this funny thread.

[digitalindustry]

"digitalindustry", in all seriousness, are you having a mental breakdown right now? relax a bit man!

I hope after relaxing for a while you're going to realise that your incompetent statements are just exposing yourself to ridicule. I'm not sure whether that was your actual intention when you created this funny thread.

chill - i'm just doing some cataloging, this stuff washes on Wall ST because there's one exchange and the system is rigged from the get go, i'm fine with that, that's meant to be a scam, but this is the new world if you want to scam prepare to be shown up, if its not me it will be someone else.

there are no real investors in NXT anyhow, you might have put some cash in there and realized a % return, but as i said sure people made money off the S&P500 as well this year.

i'm just cataloging a scam and having some fun.

if you really did put money in there you should review that, innovation will come to crypto no matter what, not though the scams of a few people or corporations.

** on the up side like that little cake and cherry next to the addresses what's that all about?

*** if its a Java thing that's ok Java is known to be a swiss cheese back door ridden quasi language. (but everything in its right place) (but i know nothing, so can't comment on that.)

[Netnox]

"digitalindustry", in all seriousness, are you having a mental breakdown right now? relax a bit man!

I hope after relaxing for a while you're going to realise that your incompetent statements are just exposing yourself to ridicule. I'm not sure whether that was your actual intention when you created this funny thread.

chill - i'm just doing some cataloging, this stuff washes on Wall ST because there's one exchange and the system is rigged from the get go, i'm fine with that, that's meant to be a scam, but this is the new world if you want to scam prepare to be shown up, if its not me it will be someone else.

there are no real investors in NXT anyhow, you might have put some cash in there and realized a % return, but as i said sure people made money off the S&P500 as well this year.

i'm just cataloging a scam and having some fun.

if you really did put money in there you should review that, innovation will come to crypto no matter what, not though the scams of a few people or corporations.

** on the up side like that little cake and cherry next to the addresses what's that all about?

*** if its a Java thing that's ok Java is known to be a swiss cheese back door ridden quasi language. (but everything in its right place) (but i know nothing, so can't comment on that.)

I made 100 points on s&p bought at 1550 sold 1650. I think when the dow and s&p crashes Crypto will brutally rise

[ChuckOne]

I learned the following:

You have blockchain => You are/were PoW.

Whuuut?

Somebody able to explain that, sorry for using that word, BULLSHIT?

[digitalindustry]

"digitalindustry", in all seriousness, are you having a mental breakdown right now? relax a bit man!

I hope after relaxing for a while you're going to realise that your incompetent statements are just exposing yourself to ridicule. I'm not sure whether that was your actual intention when you created this funny thread.

chill - i'm just doing some cataloging, this stuff washes on Wall ST because there's one exchange and the system is rigged from the get go, i'm fine with that, that's meant to be a scam, but this is the new world if you want to scam prepare to be shown up, if its not me it will be someone else.

there are no real investors in NXT anyhow, you might have put some cash in there and realized a % return, but as i said sure people made money off the S&P500 as well this year.

i'm just cataloging a scam and having some fun.

if you really did put money in there you should review that, innovation will come to crypto no matter what, not though the scams of a few people or corporations.

** on the up side like that little cake and cherry next to the addresses what's that all about?

*** if its a Java thing that's ok Java is known to be a swiss cheese back door ridden quasi language. (but everything in its right place) (but i know nothing, so can't comment on that.)

I made 100 points on s&p bought at 1550 sold 1650. I think when the dow and s&p crashes Crypto will brutally rise

i generally agree -

it depends on the nature of the "crisis" - i.e if its deflationary or inflationary.

it however could be both as when there is a "bail in" - this will be deflationary but could cause a broader "collapse in confidence".

this is why its important to not be caught up in scams and try to navigate the very small field of real crypto currency.

[Daedelus]

And have you checked out the Nxt Multigateway yet Colin? Almost trustless crypto to crypto trading and it is here now   Did you put a link in your blog? You can test it yourself (small amounts mind, it is still quite new). I'd be interested to know how this ties into the big Nxt scam. Hundreds of hours and tens of thousands of lines of code, these are the most dedicated scammers I've ever seen  

fantastic - well of course you are going to be dedicated if you are getting result and getting people in subsidizing your investment as you can sell into these suckers as you oh, you know, gave yourself 99 % of the units in one second.

I bought my Nxt, so I must be the scammee right?  

And you dodge another question to bang the drum for you baseless assertions you find any of that proof I asked about earlier? (Twice)

Nah, didn't think so

[msin]

Man, I wish I had the free time to write a lengthy troll OP and respond to countless posts, all in the name of protecting my fellow BTT members from a coin I'm jealous I wasn't part of from the beginning, but instead invested in Quark which is now dead, congrats digitalindustry! 

[Netnox]

^^ Maybe it's volume, but people are sure active behind the scenes. Volume can change in an instant when projects deliver.

[quarkfx]

Kolin,

as said before on other threads, also on Reddit, I think you aren´t doing Quark or any other cryptocurrency a favor by writing this kind of posts and while I disagree with the counterbashing I think that some (EDIT: most) people who challenge your argumentation have actually better arguments than you.

One of your main points seem to be the assumption that the NXT IPO was a scam where developer bought their own coins to bump the prize and then get fiat rich. To me that is a harsh statement that needs to be backed it up with solid proof and I don´t see any, particularly any that would incriminate the developer directly.

With regard to the  "fake volume" you are repeating an argument that people stated against Quark - and, guess what, in some way everyone´s right on that one: The volume of many coins - especially pure POS coins but also coins with a quick mining period like Quark - cause a bump on marketcap-pages that can cause a hype without any real substance (btw. hard to say what is "quick", quick can be 6 days as with Blackcoin, it can be several months as with Quark but it can also be several years as with Bitcoin depending on the scale from which we are looking at it). Of course the hype disguises the effective (way smaller) potential behind the currency and this CAN be used to scam people... but the fact that it CAN be used doesn´t mean it IS used and this is how we need to treat it in an argumentation. Again, Quark has been addressed with this type of arguments (pump and dump) again and again, which is why I have even less sympathy for repeating them.

I don´t mind to be critical to projects like NXT. Other projects that worked the same have been proven to be frauds, so there is a lot of potential to betray people - let´s be honest: this potential exist with every cryptocurrency. Should we start calling all cryptocurrencies a scam? (remember, there are lot of people doing that already)

And one more: Assuming that everyone who disagrees is a sockpuppet or that people are bought looks very unprofessional and I am not surprised at all that you need to deal with a lot of haters.

Let´s go back to building instead of bashing.

[digitalindustry]

Kolin,

as said before on other threads, also on Reddit, I think you aren´t doing Quark or any other cryptocurrency a favor by writing this kind of posts and while I disagree with the counterbashing I think that some people who challenge your argumentation have actually better arguments than you.

One of your main points seem to be the assumption that the NXT IPO was a scam where developer bought their own coins to bump the prize and then get fiat rich. To me that is a harsh statement that needs to be backed it up with solid proof and I don´t see any, particularly any that would incriminate the developer directly.

With regard to the  "fake volume" you are repeating an argument that people stated against Quark - and, guess what, in some way everyone´s right on that one: The volume of many coins - especially pure POS coins but also coins with a quick mining period like Quark - cause a bump on marketcap-pages that can cause a hype without any real substance (btw. hard to say what is "quick", quick can be 6 days as with Blackcoin, it can be several months as with Quark but it can also be several years as with Bitcoin depending on the scale from which we are looking at it). Of course the hype disguises the effective (way smaller) potential behind the currency and this CAN be used to scam people... but the fact that it CAN be used doesn´t mean it IS used and this is how we need to treat it in an argumentation. Again, Quark has been addressed with this type of arguments (pump and dump) again and again, which is why I have even less sympathy for repeating them.

I don´t mind to be critical to projects like NXT. Other projects that worked the same have been proven to be frauds, so there is a lot of potential to betray people - let´s be honest: this potential exist with every cryptocurrency. Should we start calling all cryptocurrencies a scam? (remember, there are lot of people doing that already)

And one more: Assuming that everyone who disagrees is a sockpuppet or that people are bought looks very unprofessional and I am not surprised at all that you need to deal with a lot of haters.

Let´s go back to building instead of bashing.

thanks for your opinion -

but unfortunately this is not the way crypto currency works, again i'm not telling people to not buy into the NXT scam, in fact if you believe its a great investment feel absolutely free to dive in.

I suppose there could be an argument that the fact that 1 Billion units were created in less than one second and then issued to "73" address , that if these addresses were primarily the developers that in effect people that come in later and hand wealth to them at the price they bid up themselves (on their own exchange).

I suppose there is an argument that says :

 "well, i'm stupid and i'd like to invest in  something that is bid up on its own exchange and was issued to its own developers, because I believe that in giving them my wealth they will make cool things and then i can participate in that which will in turn further drive the idea that we can get more investors"

so from that perspective i can totally see where NXT makes sense in a sort of Crypto IPO "Stock" quasi scam, i guess if i stretch my imagination (and we can all drink a lot more fluoride) we can probably accept that.

however:


---------

A word on “Proof of Work”

Crypto currency is based on “Proof of Work” this means that crypto is a “trust-less” system where people don’t have to try to trust other people to “IPO” (or distribute) the currency, that’s the whole point of Crypto currency.

Nxt is “technically” still a crypto currency as it still does have a block-chain (some don’t even have this), however the (PoW) proof of work period was done all at once and to themselves the developers.

by doing this they then shifted the “trust” from a mechanical system (the point of Crypto currency) to a “Trust us we promise to only give it to charity” type system.

So it only takes a small amount of education to see which system is:

    -- “Potentially Flawed” and/or
    -- “Totally flawed”

All PoW has the chance to be “potentially flawed” and most are, this is what allows 100′s even thousands of crypto currencies to exist, the better the PoW (distribution) period generally the better the overall fundamentals.

however a PoW that is “Totally flawed” i.e there was no market participation, such as “Nxt” ( they probably generated the whole 1 Billion in a single super block on a laptop), that is a system that can’t be recovered from, it can be seen as a “Quasi Crypto currency” and is nearly 100% of the time by definition, a Scam.

The better it looks and more effort put in to the appearance,(and more gimmicks) the more likely in % terms that its is in fact a design to take your (or other marks) wealth.

[EvilDave]

+1 to quarkfx

I dont mind criticism of NXT, if it's actually pointing out a real issue. But DI's continual scam accusations are getting a bit old......especially as his/her/its only argument or evidence for the scam theory is that NXT had a limited initial distro.  [sarcasm] Unlike every other crypto ever.....{/sarcasm]

*SNIP*
I don´t mind to be critical to projects like NXT. Other projects that worked the same have been proven to be frauds, so there is a lot of potential to betray people - let´s be honest: this potential exist with every cryptocurrency. Should we start calling all cryptocurrencies a scam? (remember, there are lot of people doing that already)

Which projects are you thinking of in the above quote?

Let´s go back to building instead of bashing.

Best line in the whole thread.......theres more than enough room for everyone at the crypto-party.
(and NXT is not a scam, you Antipodean git.....)

[digitalindustry]

+1 to quarkfx

I dont mind criticism of NXT, if it's actually pointing out a real issue. But DI's continual scam accusations are getting a bit old......especially as his/her/its only argument or evidence for the scam theory is that NXT had a limited initial distro.  [sarcasm] Unlike every other crypto ever.....{/sarcasm]

*SNIP*
I don´t mind to be critical to projects like NXT. Other projects that worked the same have been proven to be frauds, so there is a lot of potential to betray people - let´s be honest: this potential exist with every cryptocurrency. Should we start calling all cryptocurrencies a scam? (remember, there are lot of people doing that already)

Which projects are you thinking of in the above quote?

Let´s go back to building instead of bashing.

Best line in the whole thread.......theres more than enough room for everyone at the crypto-party.
(and NXT is not a scam, you Aussie git.....)

thanks for your friendly feedback EvilDave, you know you have nearly brought me around !
 
you are the friendly sock puppet that will surely get more nxt suckers! great work.... : )

[digitalindustry]

also Quarkfx - no i'd say there are some scammees and some sock puppets.

why i have likely annoyed both is because if you are a scameee and you then realized, i.e you purchased then found out,

if someone comes in a starts to ruin the party i.e spreading knowledge of the scam, then obviously others will know about the scam, then that hurts your "investment."

this is one of the inherent risks of investing in a scam.

its very easy to drag it along if you can control all of the information vectors, then , hey ! "its not a scam right?" however things get very cagey in the real world.



*and if you are a sock puppet then you really don't matter that much. (as you made something for nothing and gave it to yourself)


Summary :

everything aside it just comes down to the fact that investors would be cool with 1 Billion units generated in less that one second then given to 73 addresses and then traded on its own made up exchange.

if investors are fine with that, then i expect NXT to truly be the "NXT big thing"

Strap on your ROCKET PACK ! !

[EvilDave]

DI:  couple of points here:

NXT had one initial dev, with a community-funded group of devs taking over fairly soon after the Genesis block was created. (mmm...reminds me of something)
So your shares to devs argument fails immediately. I know a fairly good selection of the initial stakeholders and most of them couldn't dev their way out of a paper bag.

Do I have to remind you that the initial offer was open to all humans on BTT who could read the IPO thread and invest?

On the own exchange routine: you must be referring to DGEX, which was set up by a NXT'er to trade NXT.
Amazingly suspicious, especially for a new currency on a completely new code base that other exchanges couldn't/wouldn't list.  

As you can see, DGEX now dominates the NXT market:

Not.
All of NXT trading volume (more or less) comes from BTER and Cryptsy with a total of 95% between them.

You also seem to completely miss the (not unimportant) point that NXT probably has more devs and a larger active commmunity than almost any other currency out there.
In fact, you seem to miss most of the points very badly, which is wierd. This kind of blindness to facts make most of your posts little more than obvious trolling.
I've looked at pretty much every (semi-)serious crypto out there and there isn't much that impresses me after seeing how NXT is developing.
Like it or not, NXT is the current leader in the 2nd gen crypto space, ansd will probably stay that way.

(Oh, yeah, my verdict on Quark: pretty good first gen crypto, probably deserves to do better than it has up to now.)


EDIT

DI: callling me a sockpuppet just shows how astonishingly hopeless you are. Do some research.