Re: Was NXT the first IPO coin? + Interesting prediction of NXT from February 2013
it would be a cool story if someone linked BCNEXT to Satoshi somehow and they both are anonymous. Maybe they were best friends?
Some people have suggested that BCNext and Satoshi were actually the same person. If they are connected in some way then your scenario is probably more likely since Satoshi was an old school C++ programmer while BCNext was a Java programmer.
A POS Block-Chain System shouldn't be calling itself a 'COIN'. They're DACs.
If I may, I think this is the misconception.. And why some people get so upset and irritated by these 'COIN' launches.. (Steady..).
The 'UNIT' running on the POS chain is exactly what the chain says it is,.. a STAKE in the system.
POS Systems should rely on making money through the services they provide. NXT's asset exchange, or BitShares in general both provide a utility to their POS network. And that IS worth something.
NXT's IPO was exactly that. A sale of shares in a fledgling DAC. I don't think of NXT as coins. They're shares.
I had not seen anything like that before. But there hadn't been any pure POS coins until then. Definitely a first for me on both counts.
Congratulations most certainly in order..
If I may, I think this is the misconception.. And why some people get so upset and irritated by these 'COIN' launches.. (Steady..).
The 'UNIT' running on the POS chain is exactly what the chain says it is,.. a STAKE in the system.
POS Systems should rely on making money through the services they provide. NXT's asset exchange, or BitShares in general both provide a utility to their POS network. And that IS worth something.
NXT's IPO was exactly that. A sale of shares in a fledgling DAC. I don't think of NXT as coins. They're shares.
I had not seen anything like that before. But there hadn't been any pure POS coins until then. Definitely a first for me on both counts.
Congratulations most certainly in order..
That's certainly an interesting way of looking at it, although it does reinforce the idea of an IPO as selling shares in a company in the same way IPOs do in the non-crypto world.
... Already mentioned in another quote above but it seems that he desperately wanted more stakeholders. I wonder why the distribution was cut short then? I understand that he idolized Satoshi but to cut the IPO short just to get a nice round 21 BTC seems a bit excessive.
Nxt got through 2 of the planned 3 month 'IPO' period so, again, 'cut short' has usually been used in the past with no detail to imply that there was a sinister motive to prevent people getting involved
Those that did their own research could follow the thread we have been quoting can see anyone had the opportunity to join for around 2 months. Not sure about the Satoshi reference, he at least didn't idolized him overtly. The second or third post in that thread was an edit of a "reserved" post when BCNext went underground after he said someone had contacted him about Nxt, even after he had been careful with his ID and computer IP. It could be true, it could be razamataz. But it isn't important. He liked symbolism and riddles, CfB has said there are hidden references to '1984' in the Nxt algo's as well as the genesis password being the opening line from the same book. 21 was chosen as that was the number of BTC that will ever be.
LOL. "Idolized" was probably too strong a word but it's clear from his posts that he definitely admired Satoshi:
I follow Satoshi's vision of the best currency.
Maybe you answered it before... but why the Anonymity? What can go wrong if you'll say who you are?
Maybe it's a superstition but I'm trying to follow in Satoshi's footsteps.