Post
Topic
Board Announcements (Altcoins)
Re: Ethereum: 2nd gen cryptocurrency with contract programming, "dagger" hashing
by
msin
on 16/01/2014, 02:38:17 UTC
It's been my experience that when people try to ignore or dodge around an issue, and accuse the person questioning them of trolling, that it's because it's the truth.

Sorry to other people reading this discussion as it's tangential to Etherium, but the opportunity arose to confront the person responsible.

It does highlight the importance of sticking with a plan in a funding round once it is announced. NXT has made an enemy where it didn't need to have one, and I will continue to discourage people from investing in it as I feel the situation shows a lack of integrity of the people managing the project. All they had to do was say, "we are closing investment, so if you want to invest you need to do so within 4 hours" (or some reasonable time frame). All they have to do at this point is admit to the real reason they closed investment early.

+1.
While the reasons to NXT genesis investors (who made on paper >1000 BTC out of investments of <1BTC) being so zealous are understandable, IMHO it still hurts the NXT in the long run. While it's an interesting technology, chances it will have a hard time competing against MSC, BTS, Ethereum (and other upcoming other 2nd gen platforms) with a much larger initial adoption base and much fairer distribution model, bringing similar features and capabilities into the play.

How is the pre-sale of a POW mined currency price at more than double current Nxt market price a fair distribution model?  I wasn't a stakeholder in Nxt, but I bought right after launch when people were selling 1Mil Nxt for 1BTC.  I thought to myself, "I could theoretically buy 1% of this currency, that will ever exist, for 10 BTC" to me that was a great risk but also a great deal.  I've been trading BTC long enough to remember having about 15k BTC in my wallet in the early days, and to be honest, Nxt is the first alt coin I've ever owned, including LTC, which I always thought was a joke.  The founder of Nxt only made 21BTC (1 of which was his) on the launch, sure the stakeholders were limited (73 total), but they were all like you and me, with zero affiliation with BCNext or Nxt.  To me, Ethereal is a slave of ASIC Miners, with a ridiculously high IPO price and no interest earned like eMu, so who is being fair?