Poll

Do you think Nxt is leading on investors or will fulfill on its promises?

No, I think the developer is blowing smoke up the community's ass
Yes, I think the code will be released on time

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Offline Pocket Sand

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Is NXT legitimate?
« on: December 22, 2013, 08:06:39 PM »

Nxt is currently number 4 on coinmarketcap and while they have come out with a few non-controversial different features, none of the significant additions they are promising have yet to come to fruition.

What I am currently caught up about is that they are promising a decentralized asset exchange, messaging system, voting system, and a whole hell of a lot more. So far the client has been buggy and many of their current features seem very exploitable.

They are promising to implement their currency exchange "soon" (end of January) and I am very skeptical on how I feel about their development. So far it has been closed source and spearheaded by what seems like an individual. The first mention of this software was in very late September (September 28th to be exact). As many of these features have not even been created yet, this seems 1.) Too good to be true and 2.) Very rushed development.

I am looking to see what the community thinks of it.

Offline pgbit

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Re: Is NXT legitimate?
« Reply #1 on: December 22, 2013, 08:35:16 PM »
I have downloaded the client. Like the interface tbh. With any existing client interface however, for any coin including nxt, one thing that stands out is that all of them in my view are not accessible / easy to use for a new user. All wallets require additional installation routines - any geek finds this easy - but then most others might get put off at the first minor hurdle. The first coin to sort out a simple installer that sorts out everything, all config files, and connectivity issues might gain a significant advantage over the current competition.

Offline Gekko

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Re: Is NXT legitimate?
« Reply #2 on: December 22, 2013, 09:21:02 PM »
AFAIK the source code has already been released, but with errors in important parts to stop copycats (and bounties to find them (the errors)). Good idea IMHO.
NXT is as important as eMunie and ProtoShares/BitShares will be. All the other Bitcoin altcoins/childcoins will die, they're just playmoney. The future is NXT, eMunie and PTS/BTS. And Bitcoin - but just because 1) it was the first and 2) there will be Mastercoin --- but not because Bitcoin is the best.
I think the ideas behind NXT, eMunie, BitShares (and maybe Mastercoins) and DACs are ingenious and that's why they will be the future.

Offline td services

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Re: Is NXT legitimate?
« Reply #3 on: December 23, 2013, 08:40:46 AM »
I liked it at first but was turned off by the ambiguity of the project and lack of a specific deadline to invest. An ecosystem seems to be forming around it and it has had phenomenal growth in value, but I just don't see it as sustainable with a near complete lack of organization.

Offline charleshoskinson

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Re: Is NXT legitimate?
« Reply #4 on: December 25, 2013, 06:41:45 AM »
Ethereum is the future my friends. Coming soon

Offline arcke

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Re: Is NXT legitimate?
« Reply #5 on: December 25, 2013, 09:25:12 PM »
Ethereum is the future my friends. Coming soon

http://vbuterin.com/ethereum.html

This is all I can find about ethereum. I am still reading, but it sounds very promising. Ravenshore, do you know more about ethereum?
OpenPGP: 0x22d7e9cc35375665
PTS - PawnbhoiXhmkrKJEPAsCiwkpP81nRXJGTD
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Offline kokojie

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Re: Is NXT legitimate?
« Reply #6 on: December 26, 2013, 12:04:44 AM »
ok I spent a few minutes researching more about NXT, it seems to me another quarkcoin/ripple type scam, where the creator(and his buddies) holds vast majority of coins, and only releasing tiny amount of coins, to prop up the price and create an illusion of massive market cap.

Who knows how many of these people are insider/buddies of the creator? or maybe even the creator himself? I hang around alt coin forum all the time, and I didn't really notice this project. Plus who would send 21 BTC to an unproven project that has nearly nothing? only insider and his buddy would do that. Nobody in their right mind would send 21 BTC to this project to become a "distributor" at the start, only a person that is on the inside would do this, since the BTC would come back to him, therefore he's taking no risk.

The "distributors" now start pumping NXT with buzz words like "next generation crypto", "descendant of Bitcoin", plus a whole list of vaporware features that doesn't even exist, and give tiny amounts to everyone for free, and get everyone interested to prop up the price. The whole thing smells like Ripple 2.0, minus the working exchange.

There's nothing new in NXT in its current form, though if the developer come through with his promise of continued development (at least a working decentralized exchange), then it may have some merits, but as of right now, it's just a scam. The announcement post reads like a scam too:
https://bitcointalk.org/index.php?topic=345619.0

Offline charleshoskinson

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Re: Is NXT legitimate?
« Reply #7 on: December 26, 2013, 01:50:46 AM »
Quote
This is all I can find about ethereum. I am still reading, but it sounds very promising. Ravenshore, do you know more about ethereum?

I helped design the proof of work and some of the security issues with the turing complete transaction language. More details will be presented in Miami next year. Very large design team from the Bitshares, colored coin, and mastercoin communities also some major innovations with the wallet client.


Offline Lighthouse

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Re: Is NXT legitimate?
« Reply #8 on: December 26, 2013, 05:10:21 AM »
Quote
This is all I can find about ethereum. I am still reading, but it sounds very promising. Ravenshore, do you know more about ethereum?

I helped design the proof of work and some of the security issues with the turing complete transaction language. More details will be presented in Miami next year. Very large design team from the Bitshares, colored coin, and mastercoin communities also some major innovations with the wallet client.



I would be very interested in hearing more about ethereum, I read the papers on it and have been hoping Invictus picks that platform to develop, turing complete is very exciting.   

Any info you can share?
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.

Offline xeroc

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Re: Is NXT legitimate?
« Reply #9 on: December 26, 2013, 01:59:01 PM »


I would be very interested in hearing more about ethereum, I read the papers on it and have been hoping Invictus picks that platform to develop, turing complete is very exciting.   

Any info you can share?


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Offline charleshoskinson

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Re: Is NXT legitimate?
« Reply #10 on: December 26, 2013, 08:44:56 PM »
Considering charles hoskinson is one of the core developers maybe both communities can work togther.

Offline tromp

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Re: Is NXT legitimate?
« Reply #11 on: January 09, 2014, 10:29:57 PM »
Quote
This is all I can find about ethereum. I am still reading, but it sounds very promising. Ravenshore, do you know more about ethereum?

I helped design the proof of work and some of the security issues with the turing complete transaction language. More details will be presented in Miami next year. Very large design team from the Bitshares, colored coin, and mastercoin communities also some major innovations with the wallet client.

How would you compare Dagger with the Cuckoo Cycle proof of work at
 https://github.com/tromp/cuckoo ?

Offline bitcool

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Re: Is NXT legitimate?
« Reply #12 on: January 09, 2014, 11:14:50 PM »
ok I spent a few minutes researching more about NXT, it seems to me another quarkcoin/ripple type scam, where the creator(and his buddies) holds vast majority of coins, and only releasing tiny amount of coins, to prop up the price and create an illusion of massive market cap.

Who knows how many of these people are insider/buddies of the creator? or maybe even the creator himself? I hang around alt coin forum all the time, and I didn't really notice this project. Plus who would send 21 BTC to an unproven project that has nearly nothing? only insider and his buddy would do that. Nobody in their right mind would send 21 BTC to this project to become a "distributor" at the start, only a person that is on the inside would do this, since the BTC would come back to him, therefore he's taking no risk.

The "distributors" now start pumping NXT with buzz words like "next generation crypto", "descendant of Bitcoin", plus a whole list of vaporware features that doesn't even exist, and give tiny amounts to everyone for free, and get everyone interested to prop up the price. The whole thing smells like Ripple 2.0, minus the working exchange.

There's nothing new in NXT in its current form, though if the developer come through with his promise of continued development (at least a working decentralized exchange), then it may have some merits, but as of right now, it's just a scam. The announcement post reads like a scam too:
https://bitcointalk.org/index.php?topic=345619.0
I agree, this project just came out of nowhere, even it was announced in advance and those 21 BTC came from 7 different people, assigning 1,000,000,000 NXT to this small group is no better than Ripple/QuarkCoin (to some degree MSC) model.

The lack of professionalism reflected by their "founders" forum posts doesn't help their project image either.
 


Offline johncitizen

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Re: Is NXT legitimate?
« Reply #13 on: January 10, 2014, 04:03:46 AM »
NXT is legitimate. Early stages just as all new crypto technologies.

Mastercoin, NXT and Bitshares.

All three have promising features in development. Overall I believe that Invictus will deliver the future. As an investor I have captured positions in all three. Its all alpha tech so far and relatively cheap.

I have the client and perform regular updates- Definitely not for gimps.

Scam accusations: if you had of sent BTC at genesis I don't think there would be an issue. I hear scamusations all day, even towards BTS business model.  People will no doubt label Invictus as unfair in the future, as ridiculous as it sounds.

We will know soon enough.


Offline greyman

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Re: Is NXT legitimate?
« Reply #14 on: January 10, 2014, 09:18:47 AM »
NXT is legitimate. Early stages just as all new crypto technologies.

Mastercoin, NXT and Bitshares.

All three have promising features in development. Overall I believe that Invictus will deliver the future. As an investor I have captured positions in all three. Its all alpha tech so far and relatively cheap.

I have the client and perform regular updates- Definitely not for gimps.

Yes, the theoretical potential is definitely there, but in my vocabulary, "alpha tech" means that the core of the "alpha" feature is mostly implemented, but it's just buggy or limited. But that's not the case with that stuff above, Bitshares doesn't exist yet AFAIK (only Protoshares), and NXT also doesn't have nothing yet, like the promised decentralized exchange. That's not alpha tech yet, it's just the promise.

But I agree with you - let's give them the chance, at least with Protoshares, I believe the concept is correct, it's just not validated in real world yet.

 

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