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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.
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.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.
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
...At least one of the NXT founder(s) was quite active on this board.
Ethereum and Charles's has no relationship with NXT.
A perfect time to buy in or buy more is my opinion, the closer to Bitshares genesis block there more people will "panic" and prices will skyrocket, once Bitshares is announced for release i guess the Protoshares price will jump 50-100% in 24 hours.
And what if not?
Maybe there will be someone else going to launch another project named better-BTS which will honor PTS/AGS?
To that end, Invictus will only develop, endorse, support and promote DACs that meet all of the following applicable consensus requirements:
For all third party DACs:
Allocate at least 10% of its equity to ProtoShares holders at genesis.
...
And while the above fascinating effects are no doubt in play, we should note that http://coinmarketcap.com/ shows all the equities and coins in the top 10 are down about the same percentages today.
It seems to me that as long as you get a better ratio of angelshares/btc compared to angelshares/pts that the price will be forced down on pts. At least that is the way it has seemed so far with the recent price drop.u r probably correct.
I'm with Que on this one. Miners efforts are wasted outside the system. Your paying expenses to your ulility company and amazon. If you really invested money for mining protoshares, I think that was ill-advised because there has numerous discussions here that Invictus was looking for a PoS-- which seeks to limit mining. Mining is wasteful. Its wasteful here. And really would miners promote a currency? I doubt it. That's a myth. Once miners get their coins, they would dump them on the market once they see a good opening. If you really want to get involved in PTS, but with mining its thats so important, then mine another currency, exchange it and get some PTS. Then convert those PTS to PTS 2.
Luckybit, I don't care if you want the deal to be better for PTS holders or think that 21 million is too many. When you bought or mined PTS, 10% of 21 million PTS was the deal and this plan does not change that at all. You will have instant support for this plan because it does not impact PTS holders at all, if they want to ignore it they can and the deal will be exactly the same as if the change had never been made.
Try to understand, the problem here is Invictus looks like they don't know what they're doing and so are changing the game because they miscalculated early on. Thats bad because the value of PTS and all invictus projects depends entirely on their ability to deliver, so demonstrating incompetence even if it is well intention-ed is inherently bad for the value of PTS.
You are already invested in PTS, Invictus and Bitshares and so you no longer matter with regards to the remaining distribution. You understand the value, so if you want more you'll buy them, so of course you think it's a good idea for your usergroup to get 50% instead of 10%. Now look at it from someone on the outside and suddenly the picture doesn't look so clear and in a competitive market where you can invest in increasing numbers of decentralized corporations that means Invictus is more likely to fail.
So just leave PTS alone and make a new deal where you get it right. Don't change the deal for better or for worse, and then Invictus doesn't have to care what PTS holders think because they're getting exactly what they expected, even if it's not a new better deal you might think you should get.
for leaving PTS deal as is. When you buy into something like PTS, you are buying a promise. Unlike Bitcoin, no merchants accept PTS as a medium of exchange (yet) and it's not intended to be one. 