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Lets have a discuss THE CHOICE we all have pending, regarding your NXT and IGNIS  
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Author Topic: Lets have a discuss THE CHOICE we all have pending, regarding your NXT and IGNIS  (Read 20024 times)

forkedchain

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The first ICO rounds for IGNIS will be "priced attractively" when compated to the snapshot ratio of 1:2 of IGNIS/NXT that we will get.  Im kind of thinking Ill not buy into the ICO and just HODL my NXT.  But depending on how "attractive" the pricing is, well I just dont know.

also of consequence is, what do we think will happen to NXT?  obviously it will be "supported" for a year or so, according to devs.  But after that, what if some other group wants to take it up to keep it running, add features, etc?  Would any licensing prevent tjhat?


what do you think?
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shugo

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At the moment I tend to buy into the ICO with a third of my NXT and keep 2/3 for the snapshot since we are also getting Bitswift and Ignis. But this depends on the ICO price.

I belive that NXT will exist further but most of the people don't understand it and will dump, so the price will fall at first.
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MrV777

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Until we hear the ICO pricing of each round, it's hard to say  ???
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danp123

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Oh, I missed buying into the ICO of IGNIS. 
I wonder which would get you more IGNIS
So 1 option is to buy all IGNIS with your NXT and get nothing with the snapshot.  Another option is to get the snapshot and then buy IGNIS with your NXT and your Bitswift.
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Brangdon

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In the long run I have trouble believing both systems will succeed. So either Ardor fails and we all go back to tried-and-true Nxt, or it succeeds and Nxt becomes redundant. We have to hope for the latter, and I think that's probably the more likely outcome, but I'm not 100% sure.

The security of the Ardor chain depends on the price of Ardor being high. Yet Ardor doesn't have much utility. All the utility is on the Ignis child-chain, so surely that's where all the demand is. People who hold Ignis are expected to want to forge Ardor to protect it. However, the fact that so few people forge Nxt at the moment is very worrying for Ardor. I wonder if splitting Ignis from Ardor is setting up a kind of Tragedy of the Commons, where everyone leaves the forging to everyone else. Maybe I am being pessimistic but it feels like failure is at least possible.

Similarly, the security of Nxt depends on the price of Nxt being high enough to deter a 51% attack. Logically the price should drop when the Ignis snapshot is taken, because some of the current value of Nxt is actually value of Ignis and that will be taken away. We could also see people dumping Nxt as they move onto Ignis. So it may be that even people who want to continue using Nxt, can't risk it because it becomes too insecure. That adds to the death spiral. I don't mind if Nxt goes to zero, as long as one of the systems survives, but I don't think that's certain.

I'm also not sure what will happen to the Nxt price in the run up to the snapshot. Hopefully there will be demand for Ignis. That will create demand for Nxt which pushes the price up. However, the Nxt used to buy Ignis will go to the devs, who will presumably sell it to turn into Bitcoin or similar, which pushes the price down again. If the price does go up, it might even make sense to sell Nxt for Bitcoin in order to hedge against these risks.

Do we have any reason to think that the people who don't currently bother forging Nxt, will bother forging Ardor? And that they'll pay good money to keep the Ardor price high?
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danp123

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To Brangdon, I suppose you could say the same thing why does ETH have any value.  It's not really supposed to be used as money.  Depends what you believe.

How much value do coins have for a blockchain that does smart contracts?
I suppose people would pay a premium for a smart contract on a good proven tech vs a not so good one.  Maybe I'd pay $1000 to create a digital asset vs $100 on the good reputable one.

I suppose they could even keep NXT as a transition into Ardor, or keep giving rewards to people holding NXT.

I really have no clue what I'm going to do.  I'll probably end up holding and getting the snapshot for sure.  Probably I'll end up keeping nxt just to see what happens and have them all.
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galeki

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I have the same worry with Brangdon.

I'm not sure there is enough motive to forging.
I always think make it passive and unnoticed, than encourage users open the client all day, by auto-start, auto-forge, or maybe pop some official news time to time, would be better than just calling people to forge?

But with Ardor we see much better distribution than NXT, and we can got childchain token in the forging with Ardor right?
And childchain users like bitswift will setup bunches of nodes for themselves and those node can easily be Ardor nodes right?
So maybe things will be better with Ardor?
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Sebastien256

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As soon as the block are fills and the TPS on the Ardor platform are sustained, Ardor value could be very high, imo. It's the chicken and egg situation (we need project to get transaction, but project want a platform that is used). I believe that Ardor will get traction as the current timing in the blockchain space is very good imo.
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Riker

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As investor in the ICO you need to balance the following factors:
(1) Don't buy IGNIS in the ICO - you get less well funded development team and community in the long run and less sell pressure on NXT in the short run
(2) Buy IGNIS in the ICO - you get better funded development team and community in the long run and more sell pressure on NXT in the short run

Since you are reading this, I assume you believe in the NXT development team and the NXT community, if so, go for (2), true, there will be a short term sell pressure while the raised funds are converted to NXT but this is a short term concern. In the long term, a better funded development team and community will be able to hire more developers, invest in marketing and give this wonderful product the attention is deserves.

Surely, when you buy IGNIS in the ICO you'll get a much better rate than if you just hold your NXT. We'll publish more information about the ICO terms and conditions as soon as we have it clear with all related entities.
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danp123

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As investor in the ICO you need to balance the following factors:
(1) Don't buy IGNIS in the ICO - you get less well funded development team and community in the long run and less sell pressure on NXT in the short run
(2) Buy IGNIS in the ICO - you get better funded development team and community in the long run and more sell pressure on NXT in the short run

Since you are reading this, I assume you believe in the NXT development team and the NXT community, if so, go for (2), true, there will be a short term sell pressure while the raised funds are converted to NXT but this is a short term concern. In the long term, a better funded development team and community will be able to hire more developers, invest in marketing and give this wonderful product the attention is deserves.

Surely, when you buy IGNIS in the ICO you'll get a much better rate than if you just hold your NXT. We'll publish more information about the ICO terms and conditions as soon as we have it clear with all related entities.

Hmm, so it seems like #2 is the way to go, even though you'll miss out on the 10-1 snapshot and the swift snapshot.
Sounds like I might do 75% #2 and 25% #1
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Riker

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As investor in the ICO you need to balance the following factors:
(1) Don't buy IGNIS in the ICO - you get less well funded development team and community in the long run and less sell pressure on NXT in the short run
(2) Buy IGNIS in the ICO - you get better funded development team and community in the long run and more sell pressure on NXT in the short run

Since you are reading this, I assume you believe in the NXT development team and the NXT community, if so, go for (2), true, there will be a short term sell pressure while the raised funds are converted to NXT but this is a short term concern. In the long term, a better funded development team and community will be able to hire more developers, invest in marketing and give this wonderful product the attention is deserves.

Surely, when you buy IGNIS in the ICO you'll get a much better rate than if you just hold your NXT. We'll publish more information about the ICO terms and conditions as soon as we have it clear with all related entities.

Hmm, so it seems like #2 is the way to go, even though you'll miss out on the 10-1 snapshot and the swift snapshot.
Sounds like I might do 75% #2 and 25% #1

No you don't, the bitswift 10% will go to the Ignis holders after the ICO is done.
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farl4bit

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As investor in the ICO you need to balance the following factors:
(1) Don't buy IGNIS in the ICO - you get less well funded development team and community in the long run and less sell pressure on NXT in the short run
(2) Buy IGNIS in the ICO - you get better funded development team and community in the long run and more sell pressure on NXT in the short run

Since you are reading this, I assume you believe in the NXT development team and the NXT community, if so, go for (2), true, there will be a short term sell pressure while the raised funds are converted to NXT but this is a short term concern. In the long term, a better funded development team and community will be able to hire more developers, invest in marketing and give this wonderful product the attention is deserves.

Surely, when you buy IGNIS in the ICO you'll get a much better rate than if you just hold your NXT. We'll publish more information about the ICO terms and conditions as soon as we have it clear with all related entities.

Hmm, so it seems like #2 is the way to go, even though you'll miss out on the 10-1 snapshot and the swift snapshot.
Sounds like I might do 75% #2 and 25% #1

No you don't, the bitswift 10% will go to the Ignis holders after the ICO is done.

What is the bitswift 10% about?
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farl4bit

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What if I chose #2 and Nxt becomes more valuable for some kind of reason (traders know Nxt and the see the low price and start pumping it for example, or some real development will start). Then I lost value overall, because I don't have NXT anymore.  ::)

Can other developers continue with Nxt, or do they need to agree with some kind of license, like Forkedchain asked?
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Riker

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What if I chose #2 and Nxt becomes more valuable for some kind of reason (traders know Nxt and the see the low price and start pumping it for example, or some real development will start). Then I lost value overall, because I don't have NXT anymore.  ::)

Can other developers continue with Nxt, or do they need to agree with some kind of license, like Forkedchain asked?

If Jelurida is well funded after a successful ICO we will continue to maintain NXT and add to it every feature which we add to Ardor and does not require a parent/child architecture.
If Jelurida is not well funded then we will focus most of our efforts on Ardor and put less focus on NXT.
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galeki

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If Jelurida is well funded after a successful ICO we will continue to maintain NXT and add to it every feature which we add to Ardor and does not require a parent/child architecture.
If Jelurida is not well funded then we will focus most of our efforts on Ardor and put less focus on NXT.

Happy to know Ardor will be the leading role in either way. :)
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Jushe

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At the moment I tend to buy into the ICO with a third of my NXT and keep 2/3 for the snapshot since we are also getting Bitswift and Ignis. But this depends on the ICO price.

I belive that NXT will exist further but most of the people don't understand it and will dump, so the price will fall at first.

What is Bitswift?
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Sebastien256

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At the moment I tend to buy into the ICO with a third of my NXT and keep 2/3 for the snapshot since we are also getting Bitswift and Ignis. But this depends on the ICO price.

I belive that NXT will exist further but most of the people don't understand it and will dump, so the price will fall at first.

What is Bitswift?

http://bitswift.tech/
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Brangdon

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To Brangdon, I suppose you could say the same thing why does ETH have any value.  It's not really supposed to be used as money.  Depends what you believe.
How much value do coins have for a blockchain that does smart contracts?
I suppose people would pay a premium for a smart contract on a good proven tech vs a not so good one.  Maybe I'd pay $1000 to create a digital asset vs $100 on the good reputable one.
I don't think ETH is analogous to ARDR. It is more analogous to IGNIS. IGNIS should have value because it is the main transactional coin. It is what you use to create digital assets, etc. ARDR is only used for forging and for bundlers. If you don't forge and you don't bundle, you can use Ignis happily and never need to buy any ARDR. Hence no demand for it, even if the Ignis chain is successful and has a lot of users.
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Sebastien256

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To Brangdon, I suppose you could say the same thing why does ETH have any value.  It's not really supposed to be used as money.  Depends what you believe.
How much value do coins have for a blockchain that does smart contracts?
I suppose people would pay a premium for a smart contract on a good proven tech vs a not so good one.  Maybe I'd pay $1000 to create a digital asset vs $100 on the good reputable one.
I don't think ETH is analogous to ARDR. It is more analogous to IGNIS. IGNIS should have value because it is the main transactional coin. It is what you use to create digital assets, etc. ARDR is only used for forging and for bundlers. If you don't forge and you don't bundle, you can use Ignis happily and never need to buy any ARDR. Hence no demand for it, even if the Ignis chain is successful and has a lot of users.

Indirectly, fees on all child chain end up as ARDR fees so there is demand for it as long as there are transactions on the Ardor platform.
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galeki

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And I guess Ardor also works like the gold of all childchain tokens?

Sure we can trade childchain tokens between each other, but the main trading always between each childchain-token and ARDR.
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