I have some marketing text I've written I would appreciate your comments on. In particular, please point out any errors. I am considering distributing this at Texas Bitcoin Conference. If you see a part of it you want to comment on, PLEASE edit down to just the section you want to discuss. The last thing I want to do is create slab walls of full quote text here for the next 20 pages...
NXT Vs. Bitcoin
Brainwallet Accessability
Bitcoin requires storing a digital file (the wallet) for use on only one computer. NXT allows knowing a short, ultrastrong password (35+ truly random characters) to access NXT funds from anywhere on Earth.
Network Simplicity
The Bitcoin network requires competitive Proof-of Work (PoW) GHash/sec mining using hi-cost, hi-energy, custom ASIC nodes. The NXT network uses cooperative Proof-of-Stake (PoS) transparent forging between $35, 4W commodity Raspberry Pi nodes.
Transaction Rapidity
Bitcoin takes 10+ minutes per block for a max throughput of 7 transactions per second (TPS), currently using a 16GB (and growing) blockchain. NXT currently takes 1 minute per block, with improvements in block timing speedup and routine chain pruning expected to support an eventual 1000 TPS.
True Anonymity
Bitcoin transactions between wallets are recorded forever on its blockchain. NXT achieves true transaction anonymity via the no-trust-needed zerocoin (testing now) / zerocash (coming soon) protocol developed at John Hopkins University.
Active Community
5000+ NXTers from 50+ countries are united in a vibrant online community. We dont just talk, we act. Were growing. Come join us!
NXT First 100 Days WOW!
NXTs genesis block was cast Nov 28, 2013. Only 100 days later, by early March 2014, NXT has shown its more than just a coin. A 2nd generation cryptocurrency written from the ground up in new Java code, NXT has rolled out numerous financial service capabilities that will revolutionize the crypto world and more are coming! As an alternative to long, complex transfer addresses, NXT offers a text alias registration system on its blockchain with over 60,000 registered in its first 100 days. NXT has demonstrated a push-button interface for new altcoin creation atop its blockchain that allows ANYONE to create their own new coins, not just a limited programmer priesthood. Most significantly, NXT has a parallel testnet CURRENTLY TESTING crypto-signed peer-to-peer asset transfer and blockchain streaming asset quotes. This unique capability offers an alternative to existing exchanges. Dont wait on next years teenaged ethereal dreams - join us on NXT Exchange TODAY!
Speaking of exchanges: almost a billion NXT has changed hands on numerous exchanges such as Dgex.com or Bter.com. And Cryptsy is coming! On Feb 8 Lets Talk Bitcoin #82 at 13:30, Big Vern of Cryptsy commented: "[NXT] is not a cookie cutter coin
technical implementation [at Crypsy] is going to take a little more time...it's popular
its fair
I feel comfortable with [NXT].
The NXT Bottom Line
1,000,000,000 genesis block NXT were distributed to 73 founders who responded with a Bitcoin or less to a Bitcointalk [ANN] investment thread that was public and open for six weeks. You could have been founder 74. Now, with NXT only 100 days old, early mass distribution of coins from founders to users is still underway at exchanges like Dgex and Bter. At this writing, NXT costs under 0.1 mBTC each. Upcoming events which may drive that price higher include release of full open source code on April 4, inclusion of NXT on Cryptsy, announcement of new features, and an ongoing major advertising push by our Chinese members.
NXT doesnt mine new coins it forges (recycles) old ones. NXT node operators (forgers, in the blacksmith sense of the term) use cheap CPU computers to receive transaction fees imbedded in any blocks they create and add to the NXT blockchain. As a 100% Proof of Stake coin, forgers are selected to forge new blocks in proportion to the total NXT coins (or stake) they already own. This results in a small return on investment proportional to your current holdings like bank savings account interest.
NXT is not a mined, Bitcoin-based price-pop altcoin of the week. NXT is creating a new financial ecosystem for use in coming years, based on cheap nodes for the common good.
NXT Is Green
Ecological? Financial? BOTH !!!
Bitcoin depends on a small mining node network fighting for their cut of 3600 newly minted Bitcoins per day. The available daily operating budget to keep Bitcoin from freezing up is thus $3.6M or less (at $1K/BTC or under) to generate the current 25 million GHash/s needed daily. A representative miner pickaxe is a Butterfly Labs Monarch costing $2000 and using 350W of power to produce 600 GHash/sec. The current Bitcoin mining network has sunk unit infrastructure costs of at least $83 million and (at $0.10/KwH) ongoing electricity costs of at least $35,000 per day.
Both costs are rising faster and faster. Exponential growth of Bitcoins hashrate (see blockchain.info/charts/hashrate) means mining rigs and energy use will skyrocket out of control, sooner rather than later. Bitcoin and clones like Doge are by their very nature destined to fail.
NXT solves this problem sustainably. By using cooperative transparent forging, not competitive gigahash mining, NXT does not have an exponential forcing function at its core that drives its costs and energy consumption ever higher. A NXT blockchain support network of 1000 Odroid U3 nodes has a one-time unit infrastructure cost of only $60 thousand and uses only $48 per day in electricity forever.