Author Topic: Is NXT legitimate?  (Read 9231 times)

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Offline bitcool

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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.

Offline santaclause102

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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?

Offline bytemaster

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
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline santaclause102

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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?

Offline super3

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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.

Offline santaclause102

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Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.

you mean bitshares?

Offline super3

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Honestly I see another full PoS currency coming out, but of course fixing the distribution issue and doing great.

Offline bytemaster

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.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bitcool

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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.

Offline super3

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Nxt is a great idea, but at the end of the day it just comes down to poor distribution.

Offline Giga

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i disagree with the release distribution of nxt, but i don't think it's a scam.

Offline johncitizen

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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.


Offline greyman

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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.

Offline johncitizen

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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 bitcool

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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.