The IPO makes no sense, you will only get a tiny fraction of coins even if you invest a ton of Bitcoin. And its just a fork of Peercoin. Talk about style over substance...
The miners will rape this coin.
Please take your NXT way of thinking and get out. Your reasoning is so bad its just sad.
I think we're getting sidetracked a bit here, this seems to be turning into a NXT bashing thread
You're ridiculous, you went into a huge tirade against NXT out of the blue and then are suggesting others have turned the thread into NXT bashing.
But the real ridiculous thing and I don't care if you deny it but i'm pretty sure by your desire to start this thread seperate to the Numus and you desire to bash NXT while acting like you know nothing about this new coin when its just a fork of peercoin. But mainly its my gut hunch your the same guy who started the Numus thread and now are trying to funnel people into thinking its awesome.
BYE.....
LMAO, with that way of thinking I could say you were the guy who created NXT. I did not go into a huge tirade against NXT, I was simply stating fact about it, facts which you fail to realize are the truth about NXT.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
by
Duff___Man
on 30/03/2014, 11:07:59 UTC
I think we're getting sidetracked a bit here, this seems to be turning into a NXT bashing thread
o info about how fast the block reward decreases. (in time) No formula for block reward. No way to know the effective size of the premine. (how long does it take to catch up for the miners.
I'm pretty sure this is the same as in Peercoin.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
Wasn't NXT the one that lied about how long one had to buy into the IPO, suddenly closing the IPO before its announced closure date, thus screwing maybe the vast majority of people who were considering buying it by closing the buying unexpectedly?
Early investors that take a big risk only share 2.5% of total coins. (and even the total coins seems to be undefined)
So say even a mildly successful IPO of say 50 coins would mean you get 500,000 coins of a total 1 Billion, 250,000 if 100 etc.... Ok so if its as successful as say NXT then its an 'ok' investment, not amazing but ok. But coins come and go all the time these days, the coin is only an adaption of an another coin. So I would say there is nothing for the early investor here to get excited about. And indeed you could lose money even if the coin is decent.
IPO's must have a big mark up to early investors otherwise there is zero motivation to invest and not just buy once it hits exchanges. The developers need to rethink the IPO amounts..
Are you seriosuly trying to compare NXT's IPO to this or any other IPO for that matter. NXT's initial disctribution comprised around 50 stakeholders who own ALL of NXT. NXT has a few mega-rich investors and the rest are dirt-poor in NXT. Let's think about that logically, if one stakeholder decided to throw in the towel one day and sells all his NXT that would bring the market crashing down to its knees.
The reason you don't see coins which offer full shares to the investors anymore is because those coins are time-bombs as soon as one investors sells the market will come crashing down and soon other initial investors will also panic sell at lower prices bringing the market price down even further. You fail to realize that big returns can still be made through early investments in coins with IPO's less than 5% of the total supply. Investors could purchase low and sell very high and make massive returns.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
Okay I've read the whitepaper. The only thing that really concerns me about the Decentralized Exchange is that though I see no current flaws in it, there may be ways to sort of abuse it.
In the end I see one of three ways abuse would be attempted:
1) [John claims he did not receive $200 but actually did. John declines.] John = +$200, -2.1 NMS Jenny = -0.1 NMS
2) [Jenny claims to have sent $200, but actually did not. John declines.] John = -2.1 NMS Jenny = -0.1 NMS
3) [Jenny claims to have sent $200, but actually sent $100. John either accepts or declines.] This is a mutual destruction scenario in which some interesting game theory may end up coming into play.
3a) John declines (mutual destruction)
John = +$100, -2.1 NMS Jenny = -$100, -0.1 NMS
3b) John accepts (John realizes that either way he will lose 2 NMS but this will save him the collateral 0.1 NMS) John = +$100, -2 NMS Jenny = -$100, +2 NMS
The way I see it is that John and Jenny don't know each other since only their addresses would be shown. Therefore there would be no reason for them to stab each other in the back. Plus there's collateral which means if Jenny tries to stab John in the back she'll be losing out money or NMS.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
If you were skeptical at first, what changed your mind to think that it is something other than a cheap trick to get people to use the currency? Because somebody's gotta win?
I was skeptical about the viability of such a system and wheter people would be tempted to use it.
why your trust is -4? if this a real project,i will join
you still trust him ? please receive my respect , i am out.
+2 You would think if it was a SERIOUS project, he would SERIOUSLY reconsider using that name.. yea..I'm serious..and..Im out too.
No, you've got it wrong. I am in no way linked to this project, I am merely someone following it and discussing its features. If you looked at the thread I linked in the OP you will realize who the real devs are.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
by
Duff___Man
on 29/03/2014, 06:03:53 UTC
.
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Re: What are your thoughts on Numus' Features? Decentralized Exchange and more
why your trust is -4? if this a real project,i will join
Someone made a scam accusation of me regarding a Bitcoin service I was developing. Everyone who entered the thread drove my trsust level into the ground. It most definitely is a real project, this coin has got to be the most proffessional I've seen. They even have their own introductory video: https://vimeo.com/89947268
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Topic OP
What are your thoughts on Numus' Features? Decentralized Exchange and more
We have updated our IPO to include optional escrow. Those investors who feel the need to make use of an escrow agent may use their trusted escrow agent at their own discretion, but can expect delays in receiving their NMS of between 1 and 2 weeks.