Quote from: pandaisftw on May 10, 2014, 12:42:52 AM

Quote from: Whoisthelorax on May 10, 2014, 12:05:44 AM

Quote from: pandaisftw on May 09, 2014, 11:40:56 PM

Quote from: Whoisthelorax on May 09, 2014, 10:43:03 PM

copied from NXT original thread...

Address; Hash; BTC; Multiplier; Weight; Nxt

1Aq5XrMf7SQsVA3RsByvZiRnARSCoaenj; 0810dc38a2e6e956918f2057f06f02846dfcfc6bf8860d976e08dec7e5cbfe8d; 1; 300; 300; 49875768
168udnkT3BMgFkzXwzLGnEymJpXxrgEhxt; 0dff9e047bde2f3de9551ea9439190f62080b443060fd76f66f3b87af38c0b8a; 0,0105; 300; 3,15; 523696
1EujnSavF7qVg5ngrKpTLbD52aCvoyTPh; 0e1446244ca325c2dd0cd6a8c6a5d56733bcce315a5536b750a408092d0b48b5; 0,11; 300; 33; 5486334
1AN8bAhXrdnqHU8USe3rNqdcneWacxQUZu; 17596f1491007e17fc4fee55fe6cf43b99a42384b5fcd80e5269816152918230; 1; 300; 300; 49875768

https://bitcointalk.org/index.php?topic=303898.540

someone got 49,875768 NXT...for sending 1 BTC.

at today's price thats a cool $1.5 million.

at NXT's really quick peak (.08 a coin and higher), that was well over $3 million dollars.

I see, in addition to ignoring my previous post, your main motivation for "dislliking" PoS coins is because you missed the boat on all of them? (Or perhaps invested in the wrong ones?)

Otherwise, I can't see why you're bringing up the % the initial investors made... In fact, it's irrelevant now (if not, tell me how it's relevant, I'm interested in hearing your excuse).

No, I'm not a miner, just an investor.

It's completely relevant to show how overvalued the coin is right now. From investment in October/November to December, the initial investment went up anywhere from 4,000x to 40,000x in value.

When you are an investor, that amount of increase in value does not leave too much more room on the upside and plenty of room on the downside. Can i reasonably expect NXT to jump 10x in value from where it is today? It's already gone up some 20,000x (average). In healthy bull markets, you expect up to a 20-25% pull back before the next leg up. Cryptomarkets tend to be even wilder than that. The increase in value from OCtober/November to December (and today) makes me think it could go a heck of a lot down more so than up.

When the original investor was a long time ago, i could hear the argument it doesn't matter. But the original investor was not even 1/2 a year ago. So, yes, it's completely relevant.

When you're an investor, you look at the utility and the future value based on that. When you're a speculator, you just look at price, and try to guess your gains based on that. You're clearly a speculator ("healthy bull markets... expect 20-25% pull back... " "Can you reasonably expect..." -- Who knows?) Again, your analysis too simple, and I'm afraid that actually a lot of people may think this way.

What correlation does any coin's value going up 10x have with it's value going up X% in the past? (Hint: Zero.) The current "market price" is exactly that, the balance between information, speculation and risk.

Also, I would like to point out that "a long time ago" is completely relative. If I were investing in the stock market, I'd say Bitcoin was a scam (according to your definition), because no way someone could make 500-5000x in 5 years. And if you're going to bring the distribution up...

http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=295000

~2000 accounts hold 50% of all bitcoins (valued at ~$3bil USD). That's 0.1% of accounts (not counting <0.0001 balance) holding 50% of all bitcoins. So I don't think the distribution argument is particularly valid to begin with.

Try again, corrections happen all the time in healthy bull markets. That is investor lingo 101, not speculator lingo.

http://mutualfunds.about.com/od/activevspassivefunds/a/Market-Correction.htm

In reference to the number of coins in BTC wallets...I wasn't making a distribution argument, but nice try.

In regards to your assertion that by my definition, Bitcoin is a scam, that is incorrect. A ton has happened from the inception of BTC to today, including dozens of governments adding it to their tax code (or making it tax free) because so many of their citizens intended to use the currency. While there is speculation in bitcoin, the price has normalized nicely.

Just to be clear, I'm extremely skeptical of an investment into a currency that hadnt been released yet to receive 5,000x increase in valuation in 1-2 months. Your apparently extremely skeptical of a coin that has been accepted and utilized by tens of millions of people around the world in 5 years, had government hearings, thousands of business owners (incuding a few big businesses) accept the currency, and a number of Wall St type big wigs enter the fray (wayyyy after the early adopter period, mind you). While the likelihood of a bitcoin-like 1000% value appreciation happening is still very very low, there was a ton of demonstrable things that led to its rise in price. NXT cannot say the same AT ALL.