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Author Topic: NXT Piece of Shit Coin  (Read 3151 times)
uvwvj (OP)
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October 16, 2014, 05:52:43 PM
 #1

Can we all just work together to just end this shitty ass thing once and for all.

 Grin
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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cexylikepie
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October 16, 2014, 05:54:14 PM
 #2

Now why would anyone want to do that?
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October 16, 2014, 05:55:39 PM
 #3

Can we all just work together to just end this shitty ass thing once and for all.

 Grin

HANDY TIP: The best way to kill a coin is not to talk about it.
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October 16, 2014, 06:34:01 PM
 #4

Can we all just work together to just end this shitty ass thing once and for all.

 Grin

HANDY TIP: The best way to kill a coin is not to talk about it.

True...NXT isn't worth talking about anymore.

Devs disappeared...coin is called NXT(Next...lol..."next coin" bahaha).
jl777 is transparent, anonymous, could be one of the biggest scammers in our lifetime.
If he showed himself, I'd be all in. I sold my jl777hodls a while ago...no regrets!

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October 16, 2014, 06:58:46 PM
 #5

I dont get why all these NXT hate threads pop up.

I guess its one of two reasons.

A/ You really hate the coin, in which case you should stop bringing attention to it, as all publicity can be good publicity

B/ You used to love it but sold out when it was fractions of what it is now, and your pissed right off.

I see fuck all wrong with the coin myself, I appreciate the distribution was bad, but then I think what they have done with the features ultimately outways the birth of it all.

But hey ho that's my opinion Smiley


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devphp
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October 16, 2014, 07:44:09 PM
 #6

Because bitcoin falls and they don't know what to do or who to blame now.

The exit is right there.
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October 16, 2014, 08:21:39 PM
 #7

Why do people bother FUDDING BTC?

Spreading FUD about BTC is like Throwing a baseball at a Lil Wayne poster.
EvilDave
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October 16, 2014, 09:00:47 PM
 #8

Can we all just work together to just end this shitty ass thing once and for all.

 Grin

HANDY TIP: The best way to kill a coin is not to talk about it.

True...NXT isn't worth talking about anymore.

Devs disappeared...coin is called NXT(Next...lol..."next coin" bahaha).
jl777 is transparent, anonymous, could be one of the biggest scammers in our lifetime.
If he showed himself, I'd be all in. I sold my jl777hodls a while ago...no regrets!



And yet still....we're talking about Nxt. Roll Eyes

Which dev?
If you're talking about BCNext, that was almost a year ago, so not exactly relevant to right now.

jl777 could (if we're gonna play the coulda, shoulda, woulda game), could also be the Warren Buffet of crypto, and make all jl777hodl holders rich.....or he could just be a very naughty boy.

And is he really transparent ? Think you mean something else, something more evil, probably.

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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October 16, 2014, 09:26:54 PM
 #9

Because bitcoin falls and they don't know what to do or who to blame now.

The exit is right there.

Yeah but since 99% of alt worth is backed by bitcoin, we need a strong bitcoin.
devphp
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October 16, 2014, 09:38:08 PM
 #10

99% of alt worth is backed by bitcoin

This sentence doesn't make sense at all.

Did you mean alts are priced in Bitcoin?
nutildah
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October 16, 2014, 09:44:33 PM
 #11

99% of alt worth is backed by bitcoin

This sentence doesn't make sense at all.

Did you mean alts are priced in Bitcoin?

Yes. Alts are backed by bitcoin as well. That means you can exchange them for bitcoin and little else. Just like bitcoin is backed by the USD.
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October 17, 2014, 03:13:56 AM
 #12

Next was the first coin if I remember correct to be 100% premined.

See the shitty state of crypto? Partial blame relies on NXT.


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nutildah
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October 17, 2014, 05:25:43 AM
 #13

Next was the first coin if I remember correct to be 100% premined.

See the shitty state of crypto? Partial blame relies on NXT.

I dunno... I can see your point with all the clones and whatnot, but I choose to think of it more as the first decentralized stock offering. Saying something is 100% premine doesn't really make sense because it still infers that there is some sort of mining going on. Definitely new blocks are being added to the blockchain and there is a payout involved but its not "mining" in the classic crypto sense of the word.

I do agree that the counterargument that POS encourages hoarding goes rather unchallenged. It simply encourages the "NXT wealthy" to get more NXT, which I guess would help keep the price up as there is less incentive to sell off initial stake. But at the same time it discourages faster distribution.

If NXT had better distribution, would it be more respected? Unfortunately if quick distribution does happen in the only way I can imagine the price will drop and then you'll get a new batch of critics.

So, its a slow and gentle process but not a failure by any stretch of imagination. To me it definitely still has real-world integration potential, a feature many newer coins are sorely lacking.
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October 17, 2014, 06:16:33 AM
 #14

99% of alt worth is backed by bitcoin

This sentence doesn't make sense at all.

Did you mean alts are priced in Bitcoin?

Yes. Alts are backed by bitcoin as well. That means you can exchange them for bitcoin and little else. Just like bitcoin is backed by the USD.

Backed by means you can exchange something for a fixed amount of the underlying asset. Alts are not backed by Bitcoin, and Bitcoin is not backed by USD. These are all free floating exchange rates.

You can say that most alts are priced in Bitcoin, but that's not the same as 'backed'.

That is why when they say that Bitcoin is backed by kilowatts of energy spent by the miners, it's absolute hogwash for the same reason. Backed by means you can exchange it for a fixed amount of the underlying asset. Fixed amount means that no matter how many currency units are presented for redemption, each one of them will be exchanged for a fixed amount of the underlying asset. If there is not enough of the underlying asset, it's called the system is operating on fractional reserve.
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October 17, 2014, 06:20:57 AM
 #15

Next was the first coin if I remember correct to be 100% premined.

See the shitty state of crypto? Partial blame relies on NXT.

I dunno... I can see your point with all the clones and whatnot, but I choose to think of it more as the first decentralized stock offering. Saying something is 100% premine doesn't really make sense because it still infers that there is some sort of mining going on. Definitely new blocks are being added to the blockchain and there is a payout involved but its not "mining" in the classic crypto sense of the word.

I do agree that the counterargument that POS encourages hoarding goes rather unchallenged. It simply encourages the "NXT wealthy" to get more NXT, which I guess would help keep the price up as there is less incentive to sell off initial stake. But at the same time it discourages faster distribution.

If NXT had better distribution, would it be more respected? Unfortunately if quick distribution does happen in the only way I can imagine the price will drop and then you'll get a new batch of critics.

So, its a slow and gentle process but not a failure by any stretch of imagination. To me it definitely still has real-world integration potential, a feature many newer coins are sorely lacking.

There's an initial distribution problem inherent in PoS. In the particular case of NXT (handful of people owning (then forging) 90% of the goods), it is the reason for the "red-headed stepchild" label.

Bitmixer sucks

Bit-X sucks
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October 17, 2014, 06:30:50 AM
 #16

Backed by means you can exchange it for a fixed amount of the underlying asset. Fixed amount means that no matter how many currency units are presented for redemption, each one of them will be exchanged for a fixed amount of the underlying asset. If there is not enough of the underlying asset, it's called the system is operating on fractional reserve.

That makes sense and I admit I didn't know the proper definition of the term. But still, why would you want BTC to drop when the value of NXT would drop with it? NXT is tied to BTC until the majority of it is traded in fiat.
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October 17, 2014, 06:32:51 AM
 #17

It was the best executed IPO scam.

Maybe "Mintcoin" did it first (Mintpal)? but the key to a successful scam like this is to make your own exchange, without your own exchange you are just floating..
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October 17, 2014, 06:42:52 AM
 #18

That makes sense and I admit I didn't know the proper definition of the term. But still, why would you want BTC to drop when the value of NXT would drop with it? NXT is tied to BTC until the majority of it is traded in fiat.

Nobody wants BTC to drop, but when it grows in bubbles, it only leaves professional speculators happy and most others with a bitter taste in the mouth as they've lost a fair share of their invested fiat. The correction that BTC is going through now is nothing but healthy; the sooner BTC establishes a sustainable pattern, the better for the entire crypto currency industry. I am of the opinion that the 2009-2013 era of bubbles is over.

Some believe that the fiat leak from miners in BTC is one of its flaws that can't be fixed in BTC itself, and NXT is designed without that flaw. You're right, NXT is still tied to BTC, but that's going to change when BTC has reached its fair valuation (and not just for NXT but also for some other alts). BTC is on the route to test again its low below $300 that it touched a few days ago. If that level holds, then that becomes the new fair valuation.
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October 17, 2014, 08:54:36 AM
 #19




Disappointing, the trolls used to keep up with developments in Nxt  Cheesy



Nxt is still in the bootstrapping/distribution phase. And I don't mean waiting around for the whales to sell down their stakes.

Something else is planned and it has been public for about 4 months now. It will only become possible with the next release and the community will decide what happens in the end.







*waits to see where my post is quoted with an uninformed agenda*  Cheesy
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October 17, 2014, 09:25:55 AM
 #20




Disappointing, the trolls used to keep up with developments in Nxt  Cheesy



Nxt is still in the bootstrapping/distribution phase. And I don't mean waiting around for the whales to sell down their stakes.

Something else is planned and it has been public for about 4 months now. It will only become possible with the next release and the community will decide what happens in the end.


*waits to see where my post is quoted with an uninformed agenda*  Cheesy

You sound like BCnext

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