Quote from: Traxo on August 18, 2017, 01:57:41 PM

Quote from: d5000 on August 18, 2017, 05:59:20 AM

I also think IOTA is interesting but still has to prove if it really works

IOTA can prove it doesnt work at any time by removing the centralized servers known as the Coordinator which is otherwise enforcing the convergence of the chain.

So why would they risk it? Wiser to continue the deception until some other technology comes along that they can copy and transition to.
Those holding IOTA are motivated to help shill and perpetuate the scam. The easy way to corrupt men is to entice them to profit on selling lies. The sad state of humanity.

Quote from: d5000 on August 18, 2017, 05:59:20 AM

Nxt (first working Proof of Stake implementation without centralized checkpoints)

The only reason it did not blow up is because the stake in Nxt is centralized.
PoS does not converge if 51% of the stake is not controlled by an oligarchy to enforce that the nothing-at-stake converges on a single chain.

I regurgitate this from a rough draft of an upcoming document not written by myself (publicly available on the Internet) where this is explained in more detail.
That document also seems to discredit PoS and PoW convincingly, at least in my non-expert interpretation.

The methodology of this scam evident in both IOTA and Nxt is create some technobabble BS that n00bs dont realize is irrelevant because the system is centralized.
The functioning of those systems demonstrates nothing about the correctness of said technobabble.
The technobabble is a marketing gimmick.
The marketing side is to entice many men to spread the lies by selling them 1% of the tokens cheap, while keeping 99% for the originators of the scam.

Quote from: d5000 on August 18, 2017, 05:59:20 AM

NEM (improved PoS algorithm called "Proof of importance", not a big deal but may be OK for 0.1 points as it's a very good option for small coins

NEM was evidently a scam where the insiders pretended that there were 1000s of users who they distributed the NEM tokens in an air drop.
Those who argue there is no proof of the scam, take note that the insiders refused to use Facebook and other verification, and instead required only a BCT account.
So they were just distributing tokens to themselves via their 1000s of sock puppet accounts.

PoI is just another variant of PoS. It only works because the stake of NEM is centralized.
All of these cryptocurrencies exist to extract money from greater fools to the insiders.
None of these cryptocurrencies are real in any way.

Again I am regurgitating what I have read in a document written by another.

Quote from: d5000 on August 18, 2017, 05:59:20 AM

Bitshares (pegged assets)

Pegging is never stable long-term because there is always leakage against any such paradigm via externalities such as shorting. This was explained in a Pastebin.

Quote from: d5000 on August 18, 2017, 05:59:20 AM

Decred (interesting PoS/PoW combination)

These result in the worst attributes of each, combining to make something less secure than either alone.

As I recall, Theymos prior forays into analogous ideas for merging PoS and PoW were handily rebuked with detailed technical explanation. Perhaps he could revisit those threads to read posts.

Quote from: d5000 on August 18, 2017, 05:59:20 AM

Quote from: Traxo on August 18, 2017, 02:23:05 AM

As for the scam aspect of it, isnt it well documented already what they did with the ICO, Jinn Labs, and besides everyone knows that Come-from-Beyond originates from the Nxt scam wherein the entire money supply was awarded to 73 founders. IOTA is in the same breed of scams being perpetuated over and over again here.

The NXT "scam" was open to everyone, the "founders' list" was not limited to insiders. If you want, you can call me a shill, but please read the original announcement thread from 2013 before you make accusations. This "ICO" (one of the first of all) was running about 2 months and everyone could participate, only that it had only limited success. These weren't ERC20 times where even insignificant projects can get easily tens of thousands of dollars.

Public ICOs are a scam, because the insiders buy the ICO from themselves pretending there is more interest and buyers than there really are.
With an ongoing scam ICO such as EOS and perhaps Nxts 3 month ICO, the insiders recycle the same ETH or BTC and buy the ICO from themselves over and over again.
Even if BTC didnt move from Nxt address during the ICO period (and it may have, I have not checked), an insider with sufficient BTC can buy it from themselves.

Quote from: kriwest on October 13, 2013, 06:09:33 PM

Quote from: BCNext on October 13, 2013, 05:48:11 PM

I see someone is adding transactions non-stop. Is it a stress-testing or a DoS attack?

Or someone thinking they can take all of the nxt for themselves by doing multiple 10k transactions until they reach 1,000,000,000 in their own account.

73 people who control all the money supply is not a cryptocurrency.
I would characterize that as a private club, except that when it sells on on an exchange, then it is a manipulated system for milking greater fools.
And then @kLee who was supposed to be holding a large portion of the money supply claims it was stolen.
In addition to selling ICOs to oneself, one can also steal funds from himself.
Ask Bitfinex how that works.

The announcement thread of Nxt which you provided a link to, has no technical or specifications in the first several pages.
No one in their right mind would have bought that obviously premeditated sneaky ICO:

Quote from: BobMarley on October 01, 2013, 08:01:04 PM

So i hand over tons of BTC for a promise that i will get an unproven altcoin, that will probly be worth nothing?

Quote from: Hazard on October 01, 2013, 09:32:00 PM

Obvious scam.

Please don't send any money to an account created 4 days ago.

Who when reading that thread will come to the conclusion that Come-from-Beyond is not (or not an accomplice to) BCNext, as evident showing up in the thread from the very start pretending to be a different person offering server resources.
Coincidentally it was a Java program when no one else was coding altcoins in Java, which is the programming language CfB codes in.

http://archive.is/VCka0#selection-277.0-285.316

Quote from: Medium comment

The SEC recently emboldened the scammers and their accomplices with a purposely weak warning, with EU securities regulation also advancing. Note the SEC did point out that those who buy the ICO (and presumably especially those who help shill it) could also be culpable. To wax philosophical, why wouldnt Satan first warn his victims to offer them free will because via their own clear free will can they be enslaved entirely. The weak must be enticed to destroy themselves by their own greed and civilization-destructive (as opposed to constructive) ethics.

IOTA people claim they will remove the coordinator once they have enough users who make transactions. At the moment most people are just buying iota and holding, though they can help the network even by sending forth and back because it will cost nothing.