Erik Voorhees favors NXT

[Marc De Mesel]

I was happily surprised when Erik Voorhees recently replied on Twitter that "NXT is probably my favorite alt. Love the decentralized asset exchange."

To my knowledge Erik is the first bitcoin whale that speaks positively about Nxt, a milestone.

Next week he will be interviewed by DeBitcoin:  
https://www.youtube.com/watch?v=WWC_hyKRV0o

(If you missed it, DeBitcoin also did a great interview at the time with me about NXT.)


Another important Bitcoin personality that has spoken favorably about Nxt is James D'Angelo from the world bitcoin network who made the 51% attack series that helped me a lot in valuing Proof of Stake and Nxt more. He replied that he follows Nxt closely and later complemented in comments my 51% attack warning video.


I've contacted other whales such as Olivier Janssens, who often talks about the centralization problems in bitcoin, as well as Roger Ver but have not received a reply.

[1715209070]

1715209070

[1715209070]

1715209070

[1715209070]

1715209070

[bri912678]

It's good to see this. It makes a refreshing change to some of the adverse comments made by other major bitcoiners.

[Este Nuno]

Good to see people giving credit where credit is due.

I lost a lot of respect for Jeff Garzik when he went on that poorly researched tirade on twitter. That was ridiculous.

[Daedelus]

"NXT is probably my favorite alt. Love the decentralized asset exchange."

I think this should go in the thread title  

[smoothie]

But does he like how the NXT initially was distributed?

[JakeThePanda]

But does he like how the NXT initially was distributed?

Think about your comment again.  He said that NXT is his favorite alt.  All positive and negative aspects of NXT are probably included in that statement.

[bitcoin_bagholder]

But does he like how the NXT initially was distributed?

Think about your comment again.  He said that NXT is his favorite alt.  All positive and negative aspects of NXT are probably included in that statement.

So that would mean he was near the front of the line on distribution day.

[TruthBear]

But does he like how the NXT initially was distributed?

Are you okay with people in 2010 buying BTC for cents? I know you are, so what's your problem?

Same early adopter principle. Those who found out about NXT earlier were rewarded. Just like BTC.

[jt byte]

Like it or not, NXT has a very strong community backing it up

[Este Nuno]

But does he like how the NXT initially was distributed?

Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.

[jabo38]

But does he like how the NXT initially was distributed?

Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.

I think NXT has pretty good tech too and has some amazing things in it like the new voting feature, but it's liquidity is anything but good.  It is basically usually either last or second to last in liquidity of the top 10 on CMC.  Even some total scam coins will often have better liquidity.  https://coinmarketcap.com/#BTC   For instance in the last 24 hours only 114 btc worth of NXT for volume, but even coins like YBcoin, Tilecoin, or Unbreakable coin have done better in the last 24 hours.  Even a scam coin like Paycoin is doing better.

[r0ach]

I seriously doubt any IPO coin has a future at all and wish people would stop shilling.  The distribution for all of them is absurdly bad, and currency requires broad distribution (ie: can be mined by hundreds of thousands of people in the world).  In that regard, only Bitcoin, Dogecoin, Litecoin, and a couple of other alts have any success in forming a non-comical distribution scheme.  You can probably fit everyone that owns NXT into a Honda Civic.

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

[Este Nuno]

But does he like how the NXT initially was distributed?

Might have started out somewhat small, but over a year of being one of the most liquid alts seems to have distributed it pretty well. Definitely has a pretty wide range of holders and a good sized community.

I think NXT has pretty good tech too and has some amazing things in it like the new voting feature, but it's liquidity is anything but good.  It is basically usually either last or second to last in liquidity of the top 10 on CMC.  Even some total scam coins will often have better liquidity.  https://coinmarketcap.com/#BTC   For instance in the last 24 hours only 114 btc worth of NXT for volume, but even coins like YBcoin, Tilecoin, or Unbreakable coin have done better in the last 24 hours.  Even a scam coin like Paycoin is doing better.

Yeah, there's always coins that have more liquidity. But NXT has been trading for over a year now so while scams like Paycoin will pop up and get a ton of volume in a short period of time, a year from now NXT will still be trading while Paycoin of course won't be.

NXT volume still could be a lot better, and it's no where remotely near LTC or anything but it's reasonably consistent and a lot of NXT has changed hands in the past year. A few days ago someone sold 3 million NXT on Poloniex. I just think that it appears to have done a reasonably good job of distribution since it was released. It still has a long way to go to be a top 5 volume currency or something, but it's not going anywhere anytime soon and the same thing can't be said for lots of other alts.

[Este Nuno]

I seriously doubt any IPO coin has a future at all and wish people would stop shilling.  The distribution for all of them is absurdly bad, and currency requires broad distribution (ie: can be mined by hundreds of thousands of people in the world).  In that regard, only Bitcoin, Dogecoin, Litecoin, and a couple of other alts have any success in forming a non-comical distribution scheme.  You can probably fit everyone that owns NXT into a Honda Civic.

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

I don't think it's near as bad of a distribution as you think. Especially compared to most alts. Now I'm not sure, but from what I've observed the community has grown and it continues to be distributed through the open market. I'm not a NXT expert or anything, but they definitely have a solid community and things like SuperNET are helping to expand it and continue the distribution.

Also, mining favours economies of scale and not the individual miner ideal which is long gone. And it is inefficient and wasteful. I don't think there's a perfect distribution model yet, but as long as there's a somewhat liquid market and people can buy the currency, it's better that they do it that way than wasting money and energy mining imo.

[d5000]

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

That is actually a good sign, as pumping-and-dumping long-term leads only to frustration in the community.

I am actually surprised by the relative stability of NXT against. I thought it would go to 0.00001 BTC again or even lower in some kind of panic event which would cause whales to dump, but I was wrong. Even the BTER theft has not influenced the price negatively.
 

[LiQio]

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)

[r0ach]

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)

Considering the bad coins they were putting hundreds of thousands of dollars into, but they saw NXT as too risky, yea, it is a red flag.  The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  Even though there's a lot of Bitcoin holders, they still think this way.  What will they think about 12 or so NXT staker guys that mostly make up the entire network?  You have to look at it in context that Bitcoin itself might not be dispersed enough to be a viable currency, and if you're required to purchase NXT for further distribution to happen, then it's going nowhere because people just aren't going to do it. 

Bitcoin was basically created as the first welfare system designed for white and asian males.  Once the ASIC arrive and you're not seemingly receiving something for free, interest drops.  IPO is the same difference, no interest.  People will just wait for the dollar to implode and trade sea shells.

[Daedelus]

NXT is also one of the few coins that pumpers avoid like the plague because they know they'll get dumped on.  It's a pretty big warning sign that people like Wolong pumped junk coins like Earthcoin but were scared to go anywhere near NXT.

Yes, r0ach, that's just how I do it:
I only trust coins were pumpers and dumpers are the top dogs. Everything else: red flag...


(OMG, this made my day, really)

Considering the bad coins they were putting hundreds of thousands of dollars into, but they saw NXT as too risky, yea, it is a red flag. The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  Even though there's a lot of Bitcoin holders, they still think this way.  What will they think about 12 or so NXT staker guys that mostly make up the entire network?  You have to look at it in context that Bitcoin itself might not be dispersed enough to be a viable currency, and if you're required to purchase NXT for further distribution to happen, then it's going nowhere because people just aren't going to do it.  

Bitcoin was basically created as the first welfare system designed for white and asian males.  Once the ASIC arrive and you're not seemingly receiving something for free, interest drops.  IPO is the same difference, no interest.  People will just wait for the dollar to implode and trade sea shells.

Leaving aside how you determined this, it reveals more about how you think about crypto.

Your thinking reveals you view the general public each having thousands to invest, browsing around looking for a place to put their money with a hope of getting rich by doing nothing. And detest the idea of their thousands being put at risk while making earlier investors richer when they cash out and leave them holding the bag. This is outmoded in context of the any crypto that aspires to be a platform for commerce.


In reality, new people are likely to discover a messaging app/interesting project on the Asset Exchange/MSCoin Retail Voucher/MSCoin mining profit/Ebay style Marketplace etc. and want to give it a try. Everything is all in one place in one place so they can try more than one feature with minimal extra effort.


The question they will ask themselves isn't "Am I happy that my $5 is enriching an earlier investor?"

It is "Am I getting good value for the service/goods for the $5 I am putting up to make use of the platform?"


And the platform will continue to grow (as Nxt consistently has) as people become aware of what it offers. If they really like Nxt, then they might put in a more significant amount. Here it is put in a better than I did: http://nxter.org/the-value-of-10-nxts/

"Thus, 10 NXTs are worth 10 transaction performances or the goods and services you can get for them in exchange."

[Este Nuno]

The general public already hates the idea of buying Bitcoin because they think acquiring coins is just going to make someone else rich.  

There's many reasons people dislike Bitcoin. This is probably not even in the top ten.

I think people's primary concern is whether or not their 'investment' (if you want to look at it from that perspective) is going to appreciate in value over time or not(this only being in the context of using this as an investment, not using crypto as a platform with actual utility). That alone is going to far outweigh any sort of negative feeling towards 'making people rich'. It would be completely irrational to forego a profitable investment out of spite. Now of course there's no guarantee that any investment is going to make a return, but I can't think of many cases where making an investment in anything, be it a company, buying gold through a ETF or a dealer, or any sort of interest baring contact isn't providing financial benefits to the people behind that investment. Whether they're the CEO of a company, or just a financial advisor. It's pretty much a fundamental part of any sort of market based investment.

I do think it's silly though that so many people who aren't early adopters in Bitcoin reject all the new technologies in favour of the first one. I understand that it has the network effect going for it, but if the market were truly rational people would be open to moving towards better technology rather than trying to make sure the world sticks with the first iteration.

[ScreamnShout]

Nxt is very underrated all tech appreciators love it.