Re: Was NXT the first IPO coin? + Interesting prediction of NXT from February 2013
If it walks like a duck and quacks like a duck...
...call it a goose as that is what everyone started to refer to it as 12 months later?
But it's not a goose in that respect. We weren't using the term IPO or ICO back then, but it was the same thing. How was it different?
As discussed above, IPO/ICO are terms used by scammers with the aim of maximizing donations before delivering nothing. Hence all the "never invest in IPOs" by those that got burned. BCNext plan was:
The plan was to accumulate users, not money (remember I asked for tiny amounts?)
BCNext never called it an IPO/ICO and asked for donations to be made to a spendable BTC account so he could send the small amounts back if Nxt failed.
I don't think there will be decent amount [of Bitcoins], as I said you should send small amounts, it's just for distribution of coins.
Nxt's 'IPO' had far and away the opposite of what most people in crypto today think of. That is the main reason Nxt is referred to as an IPO in my experience, to try and create the same association with the recent IPO scams. Very few know it was the first and less still do their own research.
Nxt was capped donations with low funds raised+delivery of ground breaking technology. Most IPOs are raise as much money as possible+deliver nothing.
Fun fact: There were over 100 users who expressed an interest and sent tiny amounts to the donation address to be part of the initial Nxt distribution. Only 73 bothered to claim their stakes (eventually, initially I think it was 71). Amusing when you see trolls (no one in here) talking about Nxt as though it was always a sure thing
If I understand you correctly, you are basically objecting to the term "ICO/IPO."
I'm not trying to be difficult. I'm new and don't really know much about NXT. I'm just trying to understand what you're saying.