BitShares Forum
Main => General Discussion => Topic started by: Pocket Sand 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.
-
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.
-
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.
-
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.
-
Ethereum is the future my friends. Coming soon
-
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?
-
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
-
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.
-
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?
-
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?
+1
Watching
-
Considering charles hoskinson is one of the core developers maybe both communities can work togther.
-
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 ?
-
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.
-
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.
-
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.
-
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.
Haha, I am a gimp at times. Learning much lately.
Yes I agree. I think I used the term out of context.
In regards to my usage of "legitimate". Yes I believe they are not scam artists, but coders trying to build an economic system. Will it work? Well. That is the multi billion dollar question. Although I do see distribution flaws.
Same goes for all of these systems. I however, believe Invictus will dominate this market.
-
i disagree with the release distribution of nxt, but i don't think it's a scam.
-
Nxt is a great idea, but at the end of the day it just comes down to poor distribution.
-
Nxt is a great idea, but at the end of the day it just comes down to poor distribution.
Agreed. Poor launch resulted from misjudgment of its creator greatly, if not fatally, harmed its acceptance by the broader community.
-
Nxt is a great idea, but at the end of the day it just comes down to poor distribution.
Agreed. Poor launch resulted from misjudgment of its creator greatly, if not fatally, harmed its acceptance by the broader community.
Ultimately what matters is the value provided by his service. Should be interesting to see how things play out next week as I expect a lot of people will be making announcements.
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
you mean bitshares?
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
you mean bitshares?
Well that too. We are developing better full PoS code. I see someone forking that and creating another top 10 crypto.
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
you mean bitshares?
Well that too. We are developing better full PoS code. I see someone forking that and creating another top 10 crypto.
The way bitshares is (thought to be) structured, does it have the potential to be used as a currency in daily life?
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
you mean bitshares?
Well that too. We are developing better full PoS code. I see someone forking that and creating another top 10 crypto.
The way bitshares is (thought to be) structured, does it have the potential to be used as a currency in daily life?
Yes
-
Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.
you mean bitshares?
Well that too. We are developing better full PoS code. I see someone forking that and creating another top 10 crypto.
The way bitshares is (thought to be) structured, does it have the potential to be used as a currency in daily life?
Yes
What will BTS transaction/block time be?
-
Ultimately what matters is the value provided by his service. Should be interesting to see how things play out next week as I expect a lot of people will be making announcements.
The success of a cryptocurrency is made up of two parts: "hardware" and "software".
The hardware part is its functions, value provided and underlying technology.
The software part is its community, culture and trust including perceived fairness.
NXT may be doing well/OK on the hardware side but poorly on the software side.