Quote from: toknormal on May 10, 2014, 03:43:03 AM

Quote from: Whoisthelorax on May 10, 2014, 02:50:56 AM

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.

Hang on.

That wasn't the proposal that the investors in NXT were offered and it is disingenuous to suggest that it was.

A developer wanted to raise enough capital to complete an experimental project in cryptocurrencies, namely an evolution of the blockchain idea to support more complex transactions than simple currency transfers.

He decided what level of capital he needed (as it happens quite a small amount) to complete the project and made a public offering in exchange for said investment.

The project could have been a flop and gone nowhere. It could have been a scam and the "developer' could simply have run off with the money. It might have turned out to be work in progress that didn't get completed till 2015. It could have been successful in technological terms but garnered no market interest. Any of these things could have occurred.

As it happens, the developer honoured the agreement and also made good on the timescales for implementing early feature sets which were part of the original plan, not an easy thing to do.

It's not his fault that the rest of the world became interested to the extent they did and placed a high valuation on the asset. He had no responsibility to anyone but the original investors with whom he entered into an agreement. Nor can it be the fault of the original investors who took the risk of capitalising the development effort at the time, not knowing how it was going to turn out and simply responded to the offer.

So who do you want to blame now for the "scam" ? The rest of the market that gave it a valuation ? The current developers ?

This idiocy about "distribution" is nothing more than a desperate scramble to rationalise lost opportunities when in fact no such rationalisation is needed. Everything about the original launch of NXT was conducted with complete integrity and in good faith by all parties concerned. I am not a primary stakeholder. I bought some next on the open market after reading about it's technology specifications which I found intriguing.

The same opportunity is still available to anyone right now. It's only 6 months old which basically makes anyone investing at the moment an "early bird" relatively speaking.

-LOL at the "same opportunity" being avaible right now. 5000x increase in valuation would put NXT in the range of 150 billion market cap.

-The launch of NXT was Conducted with complete intregity? Like ending the IPO option more than a month early?

-take a look at before the coins hit ANY exchange....an original investor asking for a MASSIVE premium.

https://bitcointalk.org/index.php?topic=303898.560

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But u can buy NXT for BTC from one of us, who already got the stake.

Edit: I can sell 1 mil from my own stake for 1 BTC. I'll send them to ur account right after the launch.

...to which the first sane responder says...

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if i read the genesis data right 0,01 BTC was exchanged for 498758 NXT.

1 btc for 1 mil nxt would be quite a huge premium.. but thx for the answe

It's hard to get into specifics here because btc was about to jump a few hundred percent around November 20th. We also don't know when this person posting sent their bitcoins.

But assuming THE BEST for the investor (and the worst for my argument), let's ignore the rapid valuation in btc. let's say the the btc they invested was rougly the same as the moment this pre-exchange offering occurred.

Remember...IPO ended early...NXT was barely launched...nothing had really happened...

and the logically deduced price would be .02 btc for around 1,000,000 NXT. Obviously they would want a mark up to make a little money... And this investor asked for 1 BTC when nothing had happened yet. That's a massive mark up.

Does that prove a conspiracy? of course not. It does suggest the going rate for getting NXT was SEVERELY undervalued. how can an investor receive his coins and then turn around and try to sell it for 50x? insanity. That's what I argue is not good about the coin.