I looks like volume from BTSX/CNY on BTC38 is missing from coinmarketcap.

lol... done

I have 2million Simcoin for sale if anyone is interested.  Just need some money for other uses at the moment.  Want to get back in later.  PM me or post.

utopianfuture said that EVERYONE was allowed to make an extra account/ sockpuppet  to claim one additional stake (you were required to make a sockpuppet to claim the 2nd stake but it was OK).  So he hasn't violated these rules.  Initially he thought there wouldn't be many people putting in the effort to make extra accounts so it wasn't a big deal, until it looked like people were abusing it.  Then an effort was made to weed out the worst and most obvious abuses.  There was some discussion of only coming down on people with over a certain number of stakes.  It has been understood that some people will have got more than one stake and utopianfuture never took some big hard line against it.  I'm sure a lot of people have tried to "call out" others anonymously without using their main account.  Embarrassing, but I don't think it calls anything into question.  Most people value NEM because of the dev team and community anyway.

My suggestion is make it top priority to find other like minded devs to partner with you in exchange for stake.  I'm an investor but I don't think you'll be successful working on a closed source project all by yourself; nothing will get done in a reasonable time-frame.  I didn't invest anything I can't lose but I'd like to see something come together to shut up the critics.

There's a downside to this: BTC is a LOT more liquid than NXT so if real funds are needed for development it's probably best they get it in BTC.  BTC is also still the most universally used crypto so it is more convenient for the most number of people to participate in the auction.

The "snapshot" is how Bitshares distributes coins (or shares).  I think it is reasonably elegant.  I think their IPO process is well thought out and a lot can be learned from it.

For instance, I think if you staggered your initial IPO you would have had less complaints from investors.  For example, do a weekly auction for 5%, you run it for 3 months to get 60% distributed.  That way people know what to expect and can stagger their investment but people in the first week are not upset that people in the later weeks dilute their investment.

Having staged investments solves the problem that right now some investors are not motivated to encourage simcoin until the IPO is closed.

Also, I used to like the idea of world community grid, but truthfully it's a waste of time.  It's not like you'll be getting it out to some big portion of the public.  The only people that will mine it that way are crypto miners who will do it until it's not profitable.  You may as well just let people buy shares instead of going through the hassle.  This just sounds good to people who are still stuck in a POW mindset.

As far as communities to target with a snapshot,
I think there are pros and cons of bitcoin, NXT, bitshares, or other targeted giveaways.

What if the person who stole all the Mt.Gox funds got a big stake in simcoin?

BTW, NXT has switched away from the numerical addresses.  I think you may be losing ground doing development all by yourself when bigger teams are working on other projects.  Will simcoin really be relevant by the time it is released? At some point you may be better off going open source, publishing what you are doing, and trying to attract developers.  There will always be clones but if you believe in your abilities I think the market rewards the innovators not the copiers.

The new definition of unfair secret fundraiser on bitcointalk seems to be anything I didn't personally know about, or take the time to research, or take the risk to participate in.

Even if you hire marketing professionals, speak at bitcoin conferences, get mentioned in major publications, and post announcements everywhere.

Counterparty proof of burn just robbed the project and investors of development funds.  Imagine investing in a company by everyone getting together and awarding shares based on how much cash you throw in a bonfire, it makes just about that much economic sense.

Fernandez, I think you are wrong in your understanding of the fairness of distribution.  I honestly think bytemaster/invictus have been ridiculously fair and beyond reproach.

The developers themselves took 0% of the IPO as profit.  They first released an asic resistant POW coin as a means of doing an IPO with NO premine, it was announced well in advance and the developers competed along with everyone else to mine or buy coins.  You can't really say the distribution is worse than a POW coin if the distribution was done using a POW coin.

Then, they realized that people were spending/burning tons of money on mining to get PTS which is kind of silly considering the project and everyone invested in it can benefit from funding.

So they started a 200 day IPO for AGS shares announced in advance.  They have always said they support a "social consensus" that the initial distribution for "DACs" should favor a bare minimum of 10% for PTS holders and 10% for AGS holders but higher percentages are encouraged and would likely have more market acceptance.

Invictus takes none of the IPO funds from AGS donations as profit or personal gain.  It is all used to growing the crypto-equity industry and is independently audited/accounted for (they have a spreadsheet showing every transaction on the blockchain and what it was for.)  AGS is used to pay salaries that are way below market rate for developers such as bytemaster.

Bytemaster and the other core developers have personally had to compete with everyone else to buy AGS shares to invest in their own project!

They could have said 10% or more of Bitshares X goes to developers/insiders but they didn't; they gave it all to investors.  Every investor was on equal footing.   The only reason the Feb 28th snapshot happened so soon was because they had promised to give at least 2 weeks notice before doing a snapshot and they felt they were nearing completion of bitshares X so they didn't want to delay it.

Bitshares X is just the first profitable Decentralized Autonomous Company (DAC) that they are releasing.  There is much more to come.  One blockchain to rule them all does not work.  AGS is a steal at the moment, PTS is cheap.  You have plenty of time to get in.  The pre snapshot price of Bitshares X was actually pretty high (look at PTS market cap @ end of Feb) so when it is released you quite likely will be able to buy in at a similar price.

I think you will find that clones/copies that try to cut out the people that made this happen will not be a good investment.
Let me know if you have questions.

I gotta say, people seem a little crazy considering this already has a $100k market cap based on the promise of an anonymous person who got into crypto at the end of 2013 and has admittedly never tried to write cryptocoin code before, and yet claims to write one from scratch that solves problems that very smart people have tried and failed to solve for a long time.

BTW, I trust you NxtChg, but there is NOTHING that would stop you from sending coins back to your own IPO to show interest and a good "distribution" and dilute real investors; There would be no way for anyone to ever find out about it or know.

It confirms in one second?  How do I trust the server that confirmed it?

I totally agree with you about a lot of problems with NXT and others had similar concerns, but I can't say I expect an ROI on this, but who knows?

I encourage you to keep investors in mind and not bank IPO profits that are out of proportion to your potential to deliver something of value in a very crowded space.

+1

Wow,
Mastercoin deserves a big standing O for getting MaidSafe caught up in this.  Bravo!

And now MaidSafe is forced to talk them up and thank them. Hahaha because MaidSafe is the biggest MSC holder.  What can they say without shooting themselves even more?  I'm impressed MasterCoin people pulled this off and no one will really do anything about it.

To any bag holders who lost money, be sure to thank the geniuses at the MasterCoin protocol who came up with this IPO scheme but don't expect them to be called out by MaidSafe (their new biggest shareholder) without A LOT of pressure.

Ok, I'm in.  IPO is getting a little pricey but I've been a long time NxtChg supporter!

Speed will be important, things are happening fast in the industry and everyone wants to throw money at devs that are good AND productive/fast.

Does anyone think it may be possible to split NXT in the same way that a stock splits when it gets too valuable?  i.e.  if you have one NXT you now have 100 NXT... everything just gets multiplied and then new transaction fee could be 10 NXT.  The reason I suggest this is because decimals are kind of a pain and it really encourages tipping and use when coins are not worth so much.  People just feel cheap tipping 1 NXT.  I think this is part of the reason DOGE tipping caught on so well.  BCNext wanted to avoid using decimals but I think was shortsighted about how much the value of one NXT could end up being.  Maybe this is too complicated to do though.

NxtChg
I am sooo upset that you are walking away from NXT!!  You were one of the few people not afraid to cut through the bullsh*t and call a spade a spade...  Do you have an address I can send a donation to for your time?  I'm not a huge holder but want to send something.

Nxters
Just my opinion - the NXT community CANNOT afford to lose people like this.  NxtChg was working his butt off, and was only short with people because he cares about getting things right and not wasting time talking in circles.   We won't appreciate people who contribute this much because he wasn't polite enough and hurt your feelings?!?!  Get the f*ck over it, it's not personal.

Does anyone think that maybe Mastercoin may want to switch to be built on top of NXT?  They are built on top of Bitcoin now and have already thought that this has some weaknesses and they may want to move to another blockchain.  Maybe down the road this would be better for them and good for NXT?  Does anyone know JR Willett who founded Mastercoin?

I think an optional prefix "NXT-" is a little redundant/pointless.  The point of "branding" to my mind is not so that someone sees "NXT" in an address and wonders what "NXT" is.  It's for current users, I don't think it matters that the "N" looks part of a random address string, because by the time you've sent NXT 5 times you will figure out that all NXT addresses start with "N".  What this accomplishes is that people who become familiar with NXT will tend to recognize a NXT address when they see one.

That said, it seems people are more comfortable leaving it off, which is fine, maybe for the best.

I think at some point it's best if a new address format gets integrated more than just at the client level.

Thanks NxtChg, the format I wrote
"Nxxxx xxxx X xxxx xxxxT" or even just "Nxxx xxxx xxxx xxxx"
instead of NXTxx xxxxx xxxxx xxxxx

this addresses two of the "arguments against" branding

Arguments against:

    Longer addresses, usability suffers.
->  Harder to find address visually, because all 3 first letters are the same.
->  Needless duplication in case of:

Phone: 123-4122-312
Email: john@doe.com
Skype: john_doe
BTC: 1dff943fjfj90234jfidsjf98430jffj03
NXT: NXT-JOHN-2342-S4FW4-DFSESE

Even if the branding is more subtle I think it still functions.

I also prefer removing confusing letters/numbers rather than mapping I=1 etc. to the same code, "For rare cases where you need to actually type in the address".  Maybe I'm wrong but I thought the point of using shortened "visible ID" addresses in NXT is so people can type an address.  Mapping I=1 to the same code makes people nervous because they don't know it will do that.  I think using unambiguous alphabet is better.  What is the value in making it easy for people create a vanity address that starts with a word,  Why not just register an alias?

I had an idea about address format.  Maybe something to visually distinguish a NXT address from the many other crypto addresses… it can also "brand" our addresses so clones of NXT would most likely need to change this to look different.

something like:

Nxxxx xxxx X xxxx xxxxT

it might also just make you feel comfortable that you copied/pasted or typed your whole NXT address… you see the beginning, middle, and end.

I just know that I have copied/pasted a lot of various crypto addresses for different currencies such as with Cryptsy and they all look the same and I've wondered if I pasted the an address for the wrong coin.  Different credit cards start with different numbers Visa starts with 4, MasterCard starts with 5.  A lot of ID number for various things always start out the same so you can say look for a number that starts like…

I'm not sure if people think this is cheesy or unnecessarily adds complexity?... But I don't think it is much of a big deal to type a couple extra letters because people will often use QR codes or if they really want convenience at expense error checking they can send to aliases.

Maybe this may even stop someone from accidentally sending NXT to an address that was actually for a different or cloned crypto but still passed the basic NXT error checking.  We definitely need to change address format at some point.  The numerical address with no error check is a nightmare if NXT was used on a large scale.


Thoughts?  NxtChg, I know you were working on address format, what do you think?

Count me in.

sent .035 BTC:

transaction ID: 176bbd81db0defbc8b576f1025d65e2ffa6b89efffa7171741cdef0da5c3069b

NxChg, I completely agree with you about address verification.

Money can easily be lost with NXT by sending to the wrong address.

I think this currency could "go viral" with little need for marketing if we can demonstrate we can address underlying issues quickly and intelligently.  To me, this appears to be a glaring issue.  I have a hard time introducing NXT to people until we have reliable error detection so people don't send money to a bad address.  I would love to setup friends and family with some NXT but I don't feel comfortable yet.  This may be a more difficult change to implement and get right but it is critical and a higher priority than anything else I can think of.