[WARNING] Nxt is a scam and I have PROOF

[atoni]

Yes, I want to pump NAS lol

[1714871479]

1714871479

[achimsmile]

Your logic seems to be off. My post meant that 75% of network is controled by a couple of people.

How do you conclude from number of accounts to number of people, apart from being "pretty sure"?

[Damelon]

Problem with POS currencies is not the distribution per se, but the fact that probably 3-4 people control 75% of network as in POS your stake determines your importance to network.

I would like to ask you to provide real numbers to support your "probably".
Where do you get the support for your assumption, as it is the linchpin of your argument.
As to this argument applied to Nxt, I have already answered this argument here a month ago: https://bitcointalk.org/index.php?topic=644641.msg7923811#msg7923811
Never got a real answer there, by the way.

Everyone agrees that a network with too few people supporting it isn't safe, so let's not discuss that point. It's true and we all know it.
However, you imply that you have proof positive that this is the fact for most PoS currencies.

If you have this: post it. Post it here and if it's true, it would be quite major news.

"probably" or quoting statements that are presented in the original articles as "guesstimates' don't cut it.

[Daedelus]

Hello again Atoni  

MGW isn't a centralised exchange, the software keeps the funds safe in small amounts in a large number of accounts. There isn't one account to hack so as long as you can run servers, you can run this almost decentralised exchange. And the code has been release with Universal Multigateway (uMGW) so any crypto community can run their own cluster of MGW servers.


Can anyone provide any proof for these claims about who holds what? The blockchain would be a good start. I think I asked you this last time *waits to be ignored again...  *


There are scams on the internet, do you blame the internet for these? Nxt AE is a platform. Each promoter of an asset has to convince the investors that they are legitimate, there is no central leadership in the Nxt Community. So there is no endorsement of any assets. Buyer beware, but you are right. There are a dozen or so excellent projects on there.

Re: the trading competition that jl777 ran for the launch of polo, you ignored my last reply.

But more importantly, did you actually offer 10k NXT bounty to next community to artificially fake volume on poloniex (https://nxtforum.org/general-discussion/price-speculation/msg66820/#msg66820), while at same time setting price 100% higher then on nxt ae and unloading it to nxt members that went for bounty....at 100% profit on arbitrage? LOL (lol is meant for faking volume, my condolences to nxt members that actually fell for that gimmick).

How is it 'fake volume' if people are trading for profit in their own interest?

Does an instant win promotion in potatoe chips with a $200 prize create 'fake sales"? You're reaching Atoni...

There have been half a million Nxt traded on the AE in the last 24 hours (htttp://nxtreporting.com/assetcap.php), is there another decentralised exchange that is more successful?

So you say its almost decentralized.......its either decentralized or its not. Being that its stored on 3 computers most likely in same room seems very centralized to me. I am sure larger bitcoin exchanges run on more computers than that.

My proof for distribution is what James said in that article, that 250 million of nextcoin was released which means 75% is still held. I am very sure all bigger next holders (there are probably only a couple of them) know each other very well so James wasnt lying.

I was talking about scams in terms of market cap. If wind took out those scams as market cap he would get a lot different picture.

How is it not fake volume if he writes.....We need to get volume up there, I will pay 10k to person with most volume? (we have seen how the volume ended after his "promotion") Last time when it was on coinmarketcap it was at 87 USD volume.

Yes there is another decentralised exchange more succesful, Ripple, check the volumes that go on within Ripple network.

Was wondering how many posts it would take before Ripple was mentioned Anyhoo..

There are no 100% completely decentralised exchanges. There are centralised ones like Mt. Gox and almost decentralised MGW. Ripppe, as you know, is distributed.

The three Nxt MGW servers will be run by Nxt businesses that have vested interests in seeing Nxt succeed: one run by Jl777, one by Nxthuas (Nxt fiat exchange) and one by mynxt.info. If they ruin MGW, they also ruin their businesses. And each server will implement MGW in different ways so if you do manage to compromise one, you will have to find different flaws for the others.
 
And if you don't want to trust these three not to collude (better than just on dev of SharexCoin or the guys at Mt. Gox), you can run set up your own servers for your own coin using Universal Multigateway. So until a 100% decentralised exchange comes along, MGW is the most advanced as an almost decentralised exchange. In time the three servers could be expanded to 20 or 100 or 1000 and then it would be a matter of judgement when it becomes fully decentralised.


James concluded that he believed no more than 10-15% of all Nxt is controlled by any one person (that you TS and cryptonuat ignore) and his view is based on trawling through the blockchain. You have just made an assertion on a thread with no evidence that supports your case, only evidence that goes against it.


The competition was posted in public forums that were spread around to other threads, there was no secret you keep attempting to suggest. It was to raise awareness of the asset and the listing on Polo. Nothing sinister and nothing behind closed doors. It is all on the public forums.


Again, Ripple isn't decentralised and I assume you support Ripple due to it's excellent distribution?  

[atoni]

I told you where I get that number. From James's mouth. Of course, it could be he is lying

[atoni]

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

[Daedelus]

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

[TheWhale]

If you guys are getting hungry arguing, be sure to check out our pizza wall  

https://bitcointalk.org/index.php?topic=716781.0

[atoni]

I dont support Ripple, I only use it to move funds between exchanges. (I hold 2000 XRP for transactions fees, that is not even 1USD now, and so far in 1 and a half year of using it I didnt even use a single XRP so most likely I will never have to buy them again)

And XRP is not distributed yet. They only distributed 8,2% of all XRPs.

[Daedelus]

I told you where I get that number. From James's mouth. Of course, it could be he is lying

James' numbers back up his position that he thinks no one owns more than 10-15% of Nxt. You should try getting your own numbers and creating an arguement around them. James numbers go against your position.

[Damelon]

I told you where I get that number. From James's mouth. Of course, it could be he is lying

Well, the problem here is that James in his article specifically states it's a "guesstimate", ie. he's not sure at all.
Yet you present it as a fact.

I have nothing against your argument about security. It's valid. I would, however, ask you not to present guesses as facts.
It doesn't help the discussion at all.

Do you have facts about this, or is it basically only based on what James has posted and you happen to agree?

[achimsmile]

I told you where I get that number. From James's mouth. Of course, it could be he is lying

Don't trust strangers on the internet. Sapere aude.

[atoni]

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

LOL, you are foolish. First you need to go again to see difference between distributed and centralised. Second I think you dont understand Ripple at all, if you did you wouldnt write such idiot thing. Third just look at how many coins have asset exchange (and had it before nextcoin) and tell me that its really hard to do

[Daedelus]

I dont support Ripple, I only use it to move funds between exchanges. (I hold 2000 XRP for transactions fees, that is not even 1USD now, and so far in 1 and a half year of using it I didnt even use a single XRP so most likely I will never have to buy them again)

And XRP is not distributed yet. They only distributed 8,2% of all XRPs.

You're happy to use a distributed exchange, the holy grail for a lot of crypto users is to do everything decentralised. Under nobodies control. This is what Nxt is working towards and leading the field at the moment.

[superresistant]

Why isn't this guy banned yet ?

[Daedelus]

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

LOL, you are foolish. First you need to go again to see difference between distributed and centralised. Second I think you dont understand Ripple at all, if you did you wouldnt write such idiot thing. Third just look at how many coins have asset exchange (and had it before nextcoin) and tell me that its really hard to do

Counterparty and Mastercoin had AE's before Nxt and both have been pretty much failures so far. Nxt has been successful since day 1 and getting stronger as time goes on. Nxt has a large, hard won community, a big reputation for innovation and a verifiable track record for delivering what it promises.

Attack me if you want but presenting counter arguments (like what you think the definitions of the above terms mean) would be more helpful.

[atoni]

Why isn't this guy banned yet ?

Why would I get banned?

Why you arent banned yet?

[oldmarsh]

How irrelevant is NXT? Dogecoin, a dying coin that was made as a joke, with a picture of doge meme as it's logo has over double the trade volume of NXT.

And LTC, a coin that is supposedly dying, is doing 17x more trade volume than NXT.

NXT is irrelevant.

[atoni]

I dont support Ripple, I only use it to move funds between exchanges. (I hold 2000 XRP for transactions fees, that is not even 1USD now, and so far in 1 and a half year of using it I didnt even use a single XRP so most likely I will never have to buy them again)

And XRP is not distributed yet. They only distributed 8,2% of all XRPs.

You're happy to use a distributed exchange, the holy grail for a lot of crypto users is to do everything decentralised. Under nobodies control. This is what Nxt is working towards and leading the field at the moment.

If you even understood what you are writing, you wouldnt be writing it. In distributed nobody controls anything. You still seem to confuse distributed and centralized.

[atoni]

I mention Ripple in terms of nextcoin only because nextcoin took all ideas from Ripple. And I like to put salt to "oh look how innovative we are, we just copied everything from other coin"

It is easy to do what Nxt has done in a centralised or distributed environment. Nxt is valued highly as it is the first to do decentralised.

LOL, you are foolish. First you need to go again to see difference between distributed and centralised. Second I think you dont understand Ripple at all, if you did you wouldnt write such idiot thing. Third just look at how many coins have asset exchange (and had it before nextcoin) and tell me that its really hard to do

Counterparty and Mastercoin had AE's before Nxt and both have been pretty much failures so far. Nxt has been successful since day 1 and getting stronger as time goes on. Nxt has a large, hard won community, a big reputation for innovation and a verifiable track record for delivering what it promises.

Attack me if you want but presenting counter arguments (like what you think the definitions of the above terms mean) would be more helpful.

Sure, you changed your rethoric now. First it was that its hard to do what nextcoin programmers did, now when you realize that other coins had it too you go into terms of volume.

Thats not good way to present arguments.