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Why Ardor/NXT and not Bitcoin?  
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Author Topic: Why Ardor/NXT and not Bitcoin?  (Read 3726 times)

follas

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Why Ardor/NXT and not Bitcoin?
« on: November 09, 2016, 12:49:48 am »

Hello everyone!

I've been in the crypto space for about 3 years and when I learned about altcoins I was really attracted by them. Their speculative nature was really appealing to me. I spent some time in the NXT, Bitshares and Dash communities and through time I realised that most altcoins are either intentional or unintentional scams. I also found that the whole ardor token thing was a scam too.

Nevertheless, I think that there is some cool technological innovation being made here. I'd really like to know why the Devs aren't working on some bitcoin sidechain project or try to implement some of these things on top of Bitcoin. And I'd like to ask the community as well : what makes you think that ardor is worth something and why would you put your money into such a product, instead of investing in Bitcoin. What is that that makes you trust the NXT devs, after they sort of gave up on the original project? Why do you think that these devs, are better than the people coding for Bitcoin Core?

I am not trying to mock people here or try to argue about whether PoS/NXT/Ardor is scam or not. I am really trying to understand of what this community and these devs are trying to achieve and what are their motives. These are genuine questions, for which any answer will be appreciated. I am asking both as a trader and a 'old community member'.
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lurker10

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Re: Why Ardor/NXT and not Bitcoin?
« Reply #1 on: November 09, 2016, 05:35:02 am »

NXT devs have grown several times more the technical "meat" in 3 years for NXT than Bitcoin devs can ever make. While building these features, they have built trust and this is an expensive commodity in cryptocurrency.

Bitcoin is a legacy platform that is very difficult to make things on, sometimes due to inertia, sometimes due to how Bitcoin is a pilot project of cryptocurrency, that was never intended to build advanced features on. It is inferior in many ways, building on it is like building a slick sports car and have a horse pull it.

NXT has been progressing at full speed and this has been fascinating to watch. It takes a technical look to appreciate this, and it's perfectly understandable that many people look only at the price to make a decision what is better. And that's fine. There is nothing wrong in investing in Bitcoin, I do it too. They didn't adopt cars in a heartbeat back in the last century, they kept a horse too. After all you never know if this clunky piece of metal is not going to pull a trick on you one day, like running out of gas between gas stations. A horse is an old friend and can be a backup, so why not keep both.
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martismartis

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Re: Why Ardor/NXT and not Bitcoin?
« Reply #2 on: November 09, 2016, 08:11:07 am »

As for devs, they didn't give up on Nxt. They are working on Nxt version 2.0, as marked demands it. Nxt 1.0 will be supported by devs at least 2 years or longer, if there will be demand for it. Just Nxt 1.0 will not have new features, all new fetures will be on Nxt 2.0 and main focus is on it. Nxt 1.0 is already working for three years without any problems and it will stay like this.

And finally, Nxt devs always deliver.
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toenu

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Re: Why Ardor/NXT and not Bitcoin?
« Reply #3 on: November 09, 2016, 09:19:42 am »

The bitcoin network only lives at the mercy of the large mining pools not performing a 51% percent attack. PoS does not have this problem.

The only thing bitcoin has going for it is its popularity, which probably mostly comes from people gotten rich with bitcoin reinvesting in its public image and in bitcoin projects, as if they were going to win the lottery a second time.

"Ardor" seems to me indeed to have been a money raising scheme. In a saner scenario it would have just been Nxt 2.0.
Do not confuse Nxt with the people claiming to represent it. It is much more than any individual developers or marketers.

Nxt 1.0 is a proven working solution and will stay around regardless. Its main problem is that hardly anyone dares to use it.
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Riker

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Re: Why Ardor/NXT and not Bitcoin?
« Reply #4 on: November 09, 2016, 09:27:55 am »

As an NXT developer I get to talk with many people and businesses about their plans of using blockchain.
One issue that comes up every time is scalability.
It is now clear for everyone in the industry that traditional blockchain architectures like Bitcoin, Ethereum and NXT 1.0 does not scale.

A major problem we need to solve in order to scale blockchains, is the ability to separate the token used for securing the network from the operational token used by applications. NXT 2.0 is all about this. Once we are able to separate the forging token from any application specific token we can optimize the blockchain by eventually removing (pruning) transactions which do not affect the forging token balance by only saving a cryptographic proof for their past existence.
Achieving this requires a monumental programming effort of separating the static singleton blockchain design of NXT 1.x into parent/child blockchain architecture or even a tree of blockchains.
This is our vision for NXT 2.0, Ardor will be the forging token of the parent chain.

As to NXT 1.x, I can assure you it is not a scam, it is a stable and mature blockchain product which, in my view, is vastly superior to anything else out there.
However, from the view point of application developers it has severe limitations which currently reduces its usability, mainly the need to store every transaction in the blockchain forever and the need to use the NXT token even for transactions which has nothing to do with NXT itself like asset exchange, monetary system and digital good store. This are the problem we are addressing with NXT 2.0
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galeki

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Re: Why Ardor/NXT and not Bitcoin?
« Reply #5 on: November 09, 2016, 03:57:42 pm »

Bitcoin is all about money, mining, payments....

Blockchain tech can do things far more than payment, it's not just a coin.

And I even think the payment part is the least important in blockchain at least for couples of years, because the fiat is so strong.

The Blockchain Based Web is my desire, and Ardor/NXT is the closest one to that right now. ;)

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