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

[achimsmile]

I have a favor to ask you, digi

Could you draw some price predicition charts of Nxt, for the scenario that everyone gets educated by your blog?

Don't hesitate to use downtrending arrows and red lines. Please, this would really make me happy!

[digitalindustry]

I have a favor to ask you, digi

Could you draw some price predicition charts of Nxt, for the scenario that everyone gets educated by your blog?

Don't hesitate to use downtrending arrows and red lines. Please, this would really make me happy!

no problem i'll do it right here; ready?:

you own it all so you will keep trading it back and forth between yourselves - you might sucker a few more idiots but that is about it, then just like Ripple one of the major holders (there is probably 5 or 7 of you) will sell or move on, the price will collapse and the tide will go out on the NXT Po$ system.

as long as you're out before then, its sweet sweet just like Wall st hangs on every word of the FOMC, if they "cash out" its "cya later cunt".

no lines needed.

see my rocket pic.

[achimsmile]

So, no price chart? I'm quite disappointed, thought you would try harder...

[digitalindustry]

no one really gets hurt except...

oh the dupes that thought they were buying a "crytpocurrency".

[achimsmile]

no one really gets hurt except...

oh the dupes that thought they were buying a "crytpocurrency".

Agreed. Nxt is not just a currency, but a crypto platform. It has many other applications besides a currency.

Thank you for pointing this out!

It's what makes Nxt so interesting compared to regular cryptocurrencies, like quark for example.

[Spoetnik]

really ? you need a visual graph to tell you the obvious ? seriously ?

love the failed whole attempt at snotty little snarky trolling lol
if you do or don't like the coin.. maybe state your case ?
smart people are not convinced either by superfluous fanboyism for OR against any given coin.
you must appeal to peoples intelligence not their inner 4chan child hahha

guys trying to bully someone on the internet with forum trolling does not magically make your crappy coin awesome and legit.
all it ever seems like to me is kiddiots on the internet with a chip on their shoulder who are bag holding and want to defend their crap coin..
but they don't posses the intelligence to do it so they have no recourse but to try and divert conversions in frustration,
in an attempt to discredit a guy and derail the original assertion. (try holding your breath to get your way maybe ?)

And News Flash guys..
It does not matter if a guy was wrong 1,000x before if he says something that is rock solid and verified
then game over.
the crowd out there with a brain will see what is what and see straight through the childish little games and see what truly "is"
you guys convince virtually no one at all ever with all this crap your dump on here 24/7..
you guys spend suck immense amounts of time trying to fight people and cause little diversions and drama for nothing..
smart guys see straight through it all miles away *if they even bother to read your useless chearleading snotty brat retorts.

By all means keep it up..

[Daedelus]

smart guys see straight through it all miles away

Agreed.

[Daedelus]

you own it all so you will keep trading it back and forth between yourselves - you might sucker a few more idiots but that is about it, then just like Ripple one of the major holders (there is probably 5 or 7 of you) will sell or move on, the price will collapse and the tide will go out on the NXT Po$ system.

Any shred of evidence for smart guys to independently verify? Maybe something from the blockchain that proves 90% is going through the same accounts? That would be indisputable. Or should I take you at your word?

Wait. I forgot,  you don't do evidence  ok, carry on 

[markus1000]

you own it all so you will keep trading it back and forth between yourselves - you might sucker a few more idiots but that is about it, then just like Ripple one of the major holders (there is probably 5 or 7 of you) will sell or move on, the price will collapse and the tide will go out on the NXT Po$ system.

Any shred of evidence for smart guys to independently verify? Maybe something from the blockchain that proves 90% is going through the same accounts? That would be indisputable. Or should I take you at your word?

Wait. I forgot,  you don't do evidence  ok, carry on 

Haha, i feel like all those stupid threads are actually publicity for Nxt. There are a few % of those people who repeat their so called "facts" over and over without any proof.

If only a few readers question his statements and do their own reading, check out the Forum http://nxtforum.org/ and read about Nxt then it is a good thing

[digitalindustry]

you own it all so you will keep trading it back and forth between yourselves - you might sucker a few more idiots but that is about it, then just like Ripple one of the major holders (there is probably 5 or 7 of you) will sell or move on, the price will collapse and the tide will go out on the NXT Po$ system.

Any shred of evidence for smart guys to independently verify? Maybe something from the blockchain that proves 90% is going through the same accounts? That would be indisputable. Or should I take you at your word?

Wait. I forgot,  you don't do evidence  ok, carry on 

see my Blog on Po$ for clarification - http://kolinevans.wordpress.com/2014/07/02/on-po-proof-of-scam-defining-the-rational-crypto-currency-exclusive-socioeconomic-dynamic/

Summary of Po$ or Proof of Scam.

Po$ can generally be best summarized as the “crossing over” of the trust less aspects of the Random Proof of Work distribution system into to a more fiat like  centralized “trust us”  monetary group.

in this the Po$ system generally relies on the “good will” and “good nature” of the human trusted distributors (a very key element of the fiat system), there is multiplying aspect to the Po$ system and that is that generally crypto currency is pseudo anonymous, so it could be generally stated that you are relying on the “good will” of anonymous distribution actors.

There are many examples, but the key points to take away are;

    if the (rPoW) Random Proof of Work is flawed in such a manner that distribution relies on the “Trust us” ” “its ok” system.
    the “One CPU One Vote” Principal is replaced by the “trust the anonymous person on the internet” principal.
    As long as it first qualifies as a “cryptocurrency”
    if it has a Block-chain

To be more concise – (Po$) Proof of Scam is still a Cryptocurrency by definition, because it still has a decentralized ledger and thus is grouped in the “cryptocurrency” group, however the key aspect of Cryptocurrency that is generally defined as “Random Proof of Work distribution”, that was defined and to all intents and purposes invented by “Satoshi” and best summed up in his/her comment as “One CPU one Vote”;

This key aspect is shifted from the traditional system of Random mechanics to a more centralized fiat monetary system, so some could contest that it is the worst parts of both systems merged, i.e the pseudo anonymity of cryptocurrency and digital currency combined with the centralized “trust us” ” we have good intentions” of the fiat system.

That is Proof of Scam (Po$) and it is not a joke at all.

[EvilDave]

Yup, its like free troll-powered publicity....

Anyhow, thought i'd try today to bring some sanity into the debate, instead of the endless 'NXT/PoS is a scam...Oh no it isn't' game we've been playing up til now.


Proof of Stake is going to be the future of a large section of the crypto world.
It has to be.....pretty soon (inside a couple of years) we are hopefully gonna see a lot of the financial world migrate to crypto. This means that we will need to have lots of blockchains running on a variety of devices and for a wide variety of applications (like BTC for high level transfer of big lumps of money, NXT for your investment portfolio/trading, DOGE to pay your kids their pocket money).
Sadly for this idea,  the current blockchain tech (ie Proof of Work) cannot run on most devices that people actually use day to day (ie smartphones/tablets)  and scales up quite badly in terms of energy use and processing power requirements on the machines that can support a PoW blockchain.
PoW is a brilliant idea, but it's not going to be enough in the long term to take crypto into the mainstream.

There will probably never be one universal crypto-currency or system, but one thing is very clear to me :
PoS works, and PoS is going to be essential to get universal adoption of crypto.  

So, do you want to take over the world with PoS, or stay in a crypto ghetto, feeding ever hungrier PoW mining rigs ?


Edit: Proof of Stake is centralised? LOL

This key aspect is shifted from the traditional system of Random mechanics to a more centralized fiat monetary system, so some could contest that it is the worst parts of both systems merged, i.e the pseudo anonymity of cryptocurrency and digital currency combined with the centralized “trust us” ” we have good intentions” of the fiat system.

That is Proof of Scam (Po$) and it is not a joke at all.

You missed that by a mile, Di.
Proof of Work tends towards centralisation, not PoS. Lower hardware requirements = more nodes = less centralised.

[stereotype]

You missed that by a mile, Di.
Proof of Work tends towards centralisation, not PoS. Lower hardware requirements = more nodes = less centralised.

Who would like some low cost hardware requirements? ....




https://nxtforum.org/general-discussion/small-announcement-pi-case-bling-nearly-ready/msg58259

[EvilDave]

That RaspPi case is so damn pretty....I want one.

[Daedelus]

This key aspect is shifted from the traditional system of Random mechanics to a more centralized fiat monetary system, so some could contest that it is the worst parts of both systems merged, i.e the pseudo anonymity of cryptocurrency and digital currency combined with the centralized “trust us” ” we have good intentions” of the fiat system.

Let me help you out.

You are assuming Nxt had value when it was released and that people cared about it. Both are false. Would you care if I realeased DunceCoin and gave it to you and 72 others? No. If you did some research in the original thread (I posted it), you would see that everyone uderstood that as long as Nxt was distributed to so few, it would never be successful or valuable.

So cue an slew of development bounties and giveaways to spread Nxt around, becasue it was in their own economic interest to do so.  Couple this with the promised features that were delivered (Alias System, Arbitrary Transactions, Asset Exchange), soon to be delivered promised features (Digital Good Store, Transparent Forging, Automated Transactions) and additional bonus features like Multigateway, Physical Goods Store and Multipool and Nxt becomes the most advanced cryptographic platform ever devised. And there is still Voting System, Monetary System, Judgement System and more planned for later in the year. As people became aware of what Nxt was doing and delivering, it attracted more and more people and reach a point were people were willing to pay for Nxt for a slice of a very compelling future that, every day, is becoming the present.

The so called 'bad distribution' quickly gave Nxt the biggest development warchest seen by any start up crypto and the economic incentive to give it away that enabled the best developers to come on board (and still continuing today) that have made all this possible IN ONLY 8 MONTHS.


But carry on informing us all with your educational thread  

Everyone else, there is more info on all these topics at nxtforum.org or just ask and I can point out any bits you are interested in  

[EvilDave]

+10 to Daedelus

Just need to point out here (in full-on 'NXT is fracking brilliant' mode   ) what an amazing achievement NXT pulled off with its start-up process.
We managed to bootstrap the entire system using a 21 BTC initial warchest and a shitload of hard work, taking it from zero to $62 million market cap inside 8 months, with no extra external financing, just organic growth.  

Compare this to recent crypto IPO's that have taken in huge amounts of BTC and produced very little to show for it......

Get on the NXT train, there's still some seats left:
www.nxtforum.org

[Daedelus]

DI has abandoned us and maybe even seems to be trying to distance his comments from Nxt  

Still have no evidence beyond persistent assertion but you can keep up here if you are interested: https://bitcointalk.org/index.php?topic=675248.msg7655083


DI also tweeted Nxt for feedback on his groundbreaking analysis  I don't think Nxt responded  (Come from beyond did) but you can see the reception here  :

https://twitter.com/Kolin_Quark/status/484463092533702656


I am posting this link in the hopes that the low impact of 4 retweets will improve and DI can get the attention he deserves 

[EvilDave]

I love his blog....

"Be the first to like this......please"

And the Twitter power......apart from BTT, theres really not much point in engaging Di elsewhere, cos no-ones looking.
Oh yeah, we've got a date with a CoinDesk editor tomorrow....lets mention Di, see if we can get him some publicity. 

[stereotype]

CoinDesk editor tomorrow....lets mention Di, see if we can get him some publicity. 

In my experience, Emily suffers no fool!

[toknormal]

Po$ can generally be best summarized as the “crossing over” of the trust less aspects of the Random Proof of Work distribution system into to a more fiat like  centralized “trust us”  monetary group.

in this the Po$ system generally relies on the “good will” and “good nature” of the human trusted distributors (a very key element of the fiat system), there is multiplying aspect to the Po$ system and that is that generally crypto currency is pseudo anonymous, so it could be generally stated that you are relying on the “good will” of anonymous distribution actors.

I don't think you really understand what your talking about here. In particular, you've used a kind of warped logic to draw your readers to a slightly ludicrous comparison that likens POS to Fiat.

First of all, the "trust us" aspect of the fiat money system comes from centralised brokering of liquidity for debt through a counterparty infrastructure. This is nothing like crypto - whether POW or POS. You've confused the method of distribution with the method or creation.

For example, when the EU, the ECB and the IMF made huge loans to Greece through the European Financial Stability Facility, they created a large amount of fiat money which was levered up off a 20% capital base. Greece underwrote the 'value' of that new liquidity by signing a debtor agreement following which the money finds its way into the general economy. At that point, the fiat banking system are in a position of centralised trust from the holders of fiat currency, since if the debtors (Greece) default, the banks can no longer underwrite the currency's value even though they are the issuers.

Crypto, on the other hand is BASE MONEY. It is a valueless token of exchange, whether POW, POS or PO.....name your preferred algo. Instead of a debtor underwriting its value pre-emptively, the market does it through adoption. POW isn't the least bit different from POS in this respect - just because it's mined doesn't give it any value and in both cases there is no debt on the other side of the banking books and therefore no counterparty to broker that debt.

So your comparison is wild.

The only difference between POW and POS (in the case of NXT) is that one guy mined the whole damn currency supply and then used the market to distribute it instead of CPU cycles to distribute it. There are pro's and cons of this approach, but once it's "out there" it isn't much different from POW generated coins in its nature. With both approaches you end up with large holders because the number of people mining or trading crypto currencies is tiny. 73, 730 or 7300 makes no material difference to the ultimate outcome of distribution.

The real hypocrisy of this criticism of POS is that in the global scheme of things, POW is justifiably subject to all the same accusations. It's mined by a tiny group of people in the context of the global population and then dumped on markets and sold at multiples of its mining cost to unassuming speculators. Perhaps if you gave 50 MILLION people an ASIC and made sure they mined 1 second from launch, you might be on sounder ethical ground for your little crusade.

[stereotype]

Po$ can generally be best summarized as the “crossing over” of the trust less aspects of the Random Proof of Work distribution system into to a more fiat like  centralized “trust us”  monetary group.

in this the Po$ system generally relies on the “good will” and “good nature” of the human trusted distributors (a very key element of the fiat system), there is multiplying aspect to the Po$ system and that is that generally crypto currency is pseudo anonymous, so it could be generally stated that you are relying on the “good will” of anonymous distribution actors.

I don't think you really understand what your talking about here. In particular, you've used a kind of warped logic to draw your readers to a slightly ludicrous comparison that likens POS to Fiat.

First of all, the "trust us" aspect of the fiat money system comes from centralised brokering of liquidity for debt through a counterparty infrastructure. This is nothing like crypto - whether POW or POS. You've confused the method of distribution with the method or creation.

For example, when the EU, the ECB and the IMF made huge loans to Greece through the European Financial Stability Facility, they created a large amount of fiat money which was levered up off a 20% capital base. Greece underwrote the 'value' of that new liquidity by signing a debtor agreement following which the money finds its way into the general economy. At that point, the fiat banking system are in a position of centralised trust from the holders of fiat currency, since if the debtors (Greece) default, the banks can no longer underwrite the currency's value even though they are the issuers.

Crypto, on the other hand is BASE MONEY. It is a valueless token of exchange, whether POW, POS or PO.....name your preferred algo. Instead of a debtor underwriting its value pre-emptively, the market does it through adoption. POW isn't the least bit different from POS in this respect - just because it's mined doesn't give it any value and in both cases there is no debt on the other side of the banking books and therefore no counterparty to broker that debt.

So your comparison is wild.

The only difference between POW and POS (in the case of NXT) is that one guy mined the whole damn currency supply and then used the market to distribute it instead of CPU cycles to distribute it. There are pro's and cons of this approach, but once it's "out there" it isn't much different from POW generated coins in its nature. With both approaches you end up with large holders because the number of people mining or trading crypto currencies is tiny. 73, 730 or 7300 makes no material difference to the ultimate outcome of distribution.

The real hypocrisy of this criticism of POS is that in the global scheme of things, POW is justifiably subject to all the same accusations. It's mined by a tiny group of people in the context of the global population and then dumped on markets and sold at multiples of its mining cost to unassuming speculators. Perhaps if you gave 50 MILLION people an ASIC and made sure they mined 1 second from launch, you might be on sounder ethical ground for your little crusade.