Any promising assets on the Nxt Asset Exchange?

[Mt. Gox]

Other than NEMstake tokens, are there any other promising assets listed there? I've never used the Nxt AE before but I am guessing that it works in a similar way to how a stock exchange works?

And what is there to prevent someone from listing a fraudulent asset? For example, could someone list a gold IOU as an asset despite not having any actual gold to back it up?

Edit: I know there was also a bar listed on the AE too. That seemed pretty interesting.

[poornamelessme]

I've wondered how that works too. How do we know there is anything backing up what people are selling?

Not saying this to spread fear into people, but pretend the Nem guys just vanished, and didn't swap tokens for actual Nem. What is to stop people from simply lying about whatever they are supposed to be selling?

Is it like eBay, but no recourse if the buyer doesn't get anything?

[nutildah]

I've wondered how that works too. How do we know there is anything backing up what people are selling?

Not saying this to spread fear into people, but pretend the Nem guys just vanished, and didn't swap tokens for actual Nem. What is to stop people from simply lying about whatever they are supposed to be selling?

Is it like eBay, but no recourse if the buyer doesn't get anything?

If NEM was a wash it could be close to a million dollar heist at this point, and unless you are already flush with cash and can find an attorney to help you out there is little recourse.

However, I have reason to believe that NEM are truly working on building a novel concept as they at least have an alpha version of their software available for anyone to try out. There's a lot of different people working on the project and it doesn't seem to be in the hands of any one small group of people, kind of like NXT.

It is strange that a coin that technically doesn't exist yet could have a market cap of over $1 million, but out of all the assets on the AE this is the most promising one. Its funny that its another coin, but I was there lurking when they decided to go with listing tokens on the NXT AE as opposed to Counterparty or a couple of other competing ideas.

So, the decision to create tokens representing NEMstake seemed organic. And as with any investment, in the end, its about trust. You could legally lose all your money in the stock market tomorrow if you tried hard enough.

[devphp]

This could be a promising one:
https://nxtforum.org/nxt-mobile-app-co/

There is nothing to prevent listing a fraudulent asset on a decentralized exchange. The problem for the issuer would be to convince people to invest in the asset. If it looks, walks and talks like a scam, obviously don't buy it.

But you have to be careful with all assets, regardless of that some don't look suspicious, the general rule "don't invest more than you can afford to lose" applies.

[poornamelessme]

I just mentioned NEM as it was the easiest example to think of. I've used the exchange, but not very often, so was simply wondering the same as the OP ... is there basically no recourse if whatever you buy isn't actually given to you? What's to stop people from listing silver, gold, or whatever tokens and just taking your money and running away?

As for NEM, using the exchange for tokens sort of made sense... in a sneaky way. It increased the value of NXT for a while.  So if the NEM devs held any NXT, it was like an extra bonus. It's sort of similar to what the Maidsafe folks did with their ipo Mastercoin payments.

[devphp]

What's to stop people from listing silver, gold, or whatever tokens and just taking your money and running away?

Would you give someone your NXTs if someone on this board posted 'give me your money and I'll give you silver, gold or whatever tokens'?

[poornamelessme]

What's to stop people from listing silver, gold, or whatever tokens and just taking your money and running away?

Would you give someone your NXTs if someone on this board posted 'give me your money and I'll give you silver, gold or whatever tokens'?

I barely trust people on this board to not send me links to virus infested websites. So I'd have to answer with a no.

But there are certainly similar situations with coin ipos, so I guess it's basically the same thing as selling on that exchange. It's just with ipos, or this forum, you can use a little deduction sometimes to determine if they may be on the level. With that exchange, where do people post info of what they are selling?

Nem folks did it here. But for other commodities, how do you determine just how sketchy they may be?

[devphp]

With that exchange, where do people post info of what they are selling?

Nem folks did it here. But for other commodities, how do you determine just how sketchy they may be?

You can check it here:
https://nxtforum.org/index.php?board=62.0

Some projects/assets are listed under:
https://nxtforum.org/nxt-projects/

But keep in mind that moderators cannot know beforehand whether the asset issuer is a scammer, so they can only react to scam reports after the scam took place.

I, personally, don't invest in IPOs, only buy when I see at least an alpha release of the software. Then I know the asset issuer actually is capable to deliver. But of course there are a lot of other factors, do your own investigation before you invest in anything, learn as much as you can.

Besides scams there can also be unsuccessful assets, assets that are not profitable. It's not that the asset issuer is a scammer, it's that their startup company just didn't make it and went bankrupt or their product doesn't sell, so they can't pay dividends. After all 70-90% of startup companies just fail.

[poornamelessme]

With that exchange, where do people post info of what they are selling?

Nem folks did it here. But for other commodities, how do you determine just how sketchy they may be?

You can check it here:
https://nxtforum.org/index.php?board=62.0

Some projects/assets are listed under:
https://nxtforum.org/nxt-projects/

Thanks, I was wondering where all that info may be and how it all worked. I'm probably not quite trusting enough to invest in anything listed there, but it's good to know for the future if something does pop up. At least I know where to look for more info.

[Lorenzo]

If someone lists an obvious scam in the NXT Asset Exchange, are there mods in charge who can remove it?

I'm guessing the answer is no since it is decentralized. Am I correct?

[Eggy]

If someone lists an obvious scam in the NXT Asset Exchange, are there mods in charge who can remove it?

I'm guessing the answer is no since it is decentralized. Am I correct?

You are correct. IIRC there is a reputation system in the pipeline for NXT assets.

Currently the client is made so that you have to manually enter the ID of the asset to make it appear on the GUI (to decrease the likelihood that people buy a scam asset based only on its name and description).

[devphp]

If someone lists an obvious scam in the NXT Asset Exchange, are there mods in charge who can remove it?

I'm guessing the answer is no since it is decentralized. Am I correct?

The mods can only remove it from the forum or put it into scam alerts thread.

Nobody can remove assets from decentralized exchanges, that's how they are designed.

That is why I said above that the problem for an asset issuer is to convince people to invest, because by default there is (should be) zero trust for a newcomer.

[ShroomsKit_Disgrace]

Check the full list of Assets here:


https://nxtforum.org/assets-board/

[atoni]

Buy Facebook or Google, those payout nice dividends. Or Silver, that one has market cap in trillions so you are probably safe with it.

EDIT: Or smokeshares or jl777hodl, those have nice names so someone will buy them from you at higher price

EDIT2: Cointropolis sounds good too, it has very good leader.

[profitofthegods]

There's nothing really to prevent fraud or scams - its a reputations system so you have to do your research and think about whether you want to trust the issuer before you buy. There are a few sites which do their own due diligence and provide listings of assets with trust ranks, such as http://trustyourassets.com/#assetlist

I own a few assets there.

If you are looking for dividends I can confirm STORMWIND, which also trades on CounterParty, are paying as I recently got my first dividend from them:

NXT-A-ID-2112610727280991058
XCP-1KWsPEb3bp7nQuodUtZYHQsXmBCDZ9dtPz

If you're into gaming Lith is worth looking at:

https://nxtforum.org/lith-the-nxt-mmo/

[atoni]

Maybe best is to buy NXT wait till it drops to 2 cents and sell it. You will only lose 50% of investment while on asset exchange you will probably lose a lot more.

[crunck]

With that exchange, where do people post info of what they are selling?

Nem folks did it here. But for other commodities, how do you determine just how sketchy they may be?

You can check it here:
https://nxtforum.org/index.php?board=62.0

Some projects/assets are listed under:
https://nxtforum.org/nxt-projects/

But keep in mind that moderators cannot know beforehand whether the asset issuer is a scammer, so they can only react to scam reports after the scam took place.

I, personally, don't invest in IPOs, only buy when I see at least an alpha release of the software. Then I know the asset issuer actually is capable to deliver. But of course there are a lot of other factors, do your own investigation before you invest in anything, learn as much as you can.

Besides scams there can also be unsuccessful assets, assets that are not profitable. It's not that the asset issuer is a scammer, it's that their startup company just didn't make it and went bankrupt or their product doesn't sell, so they can't pay dividends. After all 70-90% of startup companies just fail.

This is a very good point, I see all over this place that peoples first impressions are "Its a scam" I agree that we are dealing in currency in one form or another so scamming is rife but some people as pointed out above, try really hard and just fail.

[ThomasVeil]

I guess that's the only way to make sure you don't get robbed: Research, read what they offer, and find trustable people/businesses.
My opinion (based on what I'm invested in):
NxtVentures is something I like - it's also by a core member, and has already delivered a dividend. This is in the form of shares of other assets - I think it made for a good earnings ratio. They gonna likely pay another dividend in privacyNXT assets soon - so get in before that After that it'll likely take a month or two again.

Lith (called DORCS in the AE) is cool too. Very ambitious but well planned and it has some core members of the NxtCommunity behind it. Payoff is far away though.

NXTBlocks is a site that's already working for a while. Relatively sure to say that this is no quick scam. They're adding wallets and such. Overall an existing business with huge opportunities should NXT rise. But also quite high risks for the price.

An advantage of those three (of course there are more such assets): They are kinda tied to NXT. Should NXT explode, then the assets will likely too. So you don't lose out.
Also in reverse: Investing in those will help NXT, as it means there are more good services and tools behind it.

Then there are some assets for hedging: If you're not in for NXT directly. Like buying the Silver Bullion, or even ShortNXT which trades against the NXT price (reliable so far).

The rest are a bit of a mix - not tied directly to NXT, but still helping the environment: NXTgen[KHS] and NXTgen[GHS] are mining operations, that worked out well so far. They mine alts and buy NXT which they pay out in weekly dividends. They (and there is another such mining asset) show pics and videos of their facilities and such. So since they buy NXT they support the price.

Naturally there is lots more, but it's getting too many for me to do thorough reading/checking on all of them. SiaNote for example gets people really excited - and the price is doing well. Maybe worth a look.

[nutildah]

or even ShortNXT which trades against the NXT price (reliable so far).

The thing about ShortNXT is there's frequently no asset-issuer buy orders which is worrisome to me. Why would you buy an asset that you can't sell? Purchasing the ShortNXT is only half of the formula of the gameplan. The other half is being able to sell it.

[salsacz]

here is a comparation based on the number of trades:
http://www.mynxt.info/blockexplorer/assets.php

I would recommend:

MGW = multigateway = getting the fees from multigateway

InstantDEX = Instant trades, another useful feature, trades happen within seconds

TXTCoinNow = a promising company, it can bring huge profits if gets accepted in Africa