WARNING: As with all alt coins, you should only invest money that you can throw away in the trash and it does not hurt you financially.
In this video I want to talk about why I invested in NXT and why you should invest in NXT. Hopefully, this info will help you make an informed decision whether or not to invest in NXT.
If you guys have been investing in, or buy, or use, or sell, or trade Bitcoins you know that the crypto currency market is booming and it’s probably going to be the next dot com bubble, or the dot com boom.
Obviously after a few years there’s hundreds of alternate coins now.
Some people will say alt coins for short. There’s these crypto currencies, and alt coins, and then copy cat coins that are coming out. There’s hundreds of them. NXT is not the only one there’s many others.
You can go to Coin Market Cap and check out all the coins that’s available.
In this video I just want to talk specifically about what I think is pretty revolutionary and pretty cool about NXT, and the reasons why I invested in it personally myself.
When I look at these alt coins to invest in obviously I’m not a programmer and I’m not a coder. I’m just a user, and investor, and a trader so because of that I’m not qualified to make a judgement or comment, or criticize the NXT source code. It’s been released for the last few weeks and I never bothered looking at it because I don’t know how to read it therefore I cannot comment on it.
Reason #1 To Invest In NXT
An Original Source Code
When I made the decision to invest in NXT what I’m investing in is the community, and the promises that it has. Obviously it’s a risky venture if you do not have the money for it you should not invest into it.
Myself personally I put let me see, I put in several thousands US dollars into NXT.
For me, I took the gains that I made from investing in Bitcoin and took some of that and poured it into NXT and several other alt coins. One of the things that I was fascinating with about NXT was the fact that it’s an original source code. It’s the first alt coin to come up with its own original code.
The creator of this code is BCNext and he created this coin which he refers to as NXT and that’s it. I sometimes refer to it as NXT coin but BCNext and the other developers like to refer to it as NXT (pronounced “next” or “N-X-T”) only and not use the term “coin” behind it.
This is a matter of personal preference.
I hate nothing more than copycats that are lazy. I think that all these other hundreds of copycat coins are too lazy to develop their own source code. They’re too lazy to come up with something new and I appreciate the fact that BCNext had the balls to go out there, and the courage to go out there, and the willingness to get off his butt and write his own code.
From what I’ve researched online in the top Bitcoin forums and the NXT forums, there’s been a few people that say that the NXT code is very genius. The reason why is because a lot of things were accomplished in a very few lines of computer code compared to other cryptocurrencies.
A lot of things were implemented in just a few thousand lines of code. Obviously I’m not a coder, I’m not a programmer so I don’t know what that means. But apparently it seems to be that it’s extremely efficient.
The formatting of the code varies a little bit, it’s a little bit different from what normal Java coders would use to format the java code but apparently most of the coders and the programmers who are capable of reading the code have mentioned that that is not a big issue. The biggest thing that everyone notices is that a lot of work, and a lot of algorithms, and a lot of things are packed into a few lines of code.
It’s very efficient so that lets the other coders know that BCNext appears to be a very, very good coder in this aspect when it comes to coding and java. That was the first reason that I invested into NXT because it’s the first alternate coin, it’s the first crypto currency, it’s the first copycat coin, it’s the first alt coin to come up with its original source code.
That alone right there got my interest and got me motivated to invest into it.
Again if you don’t have the money to throw away then I would highly recommend that you do not invest into it and wait to a later point when the price goes up. Yes, you will not gain as much money or reward for coming in at a later time but that doesn’t matter because when NXT rolls in and becomes big, and it does what everyone claims it’s going to do then it’s going to be very huge.
Some people say that NXT is the next generation cryptocurrency or the second generation to Bitcoin but I would hesitate to say that at this moment because it’s too early. We have a lot of promises and we have a lot of things that people say that NXT can do, but we haven’t seen tangible results yet.
I’m going to take the risk of investing into NXT early at this stage because I missed the Bitcoin train so I’m investing into this and a few other alternate coins that I see has potential. I’m doing it with money that I can afford to risk. So I don’t recommend that you do it unless it’s money that you can afford to risk.
The second reason that’s very important to me is that the community of people that are developing the NXT platform.
Reason #2 To Invest In NXT
When I was reading through the threads on Bitcointalk.org forum I noticed that there were several people who got robbed and got their NXT stolen by unscrupulous people and computer hackers.
You can search online for this guy who supposedly sold a bunch of stolen NXT’s and goes by the name of Epic Thomas.
You can see the reports by Ricky James on the forum who is an MIT grad and he was able to apparently track people down and to narrowed it down to a guy named Epic Thomas.
The community of NXT investors have come together and pulled a donation together to help replace the missing coins that were stolen out of these early adopters.
That is one of the things I look at, is that the community of NXT developers and investors they are really working together to help other people make sure they don’t get scammed or ripped off.
If something happens bad happens to a NXT user and the NXT community can compensate them in some way they have done it. That’s what I’m looking at when I’m looking at investments into NXT.
Reason #3 To Invest In NXT
The Large Number Of Volunteers
The third reason that I chose to invest in NXT is the amount of people who are willing to volunteer themselves to help develop the clients, troubleshoot and just help out okay. When I was on tradingview.com and I mentioned that I was having problems with my NXT client, I had several people volunteer to help out and spend hours online with me to make sure that my NXT client was working currently. And they even sent me some NXTs and I’d like to give them some credit for it.
They volunteered hours and hours to make sure I got my NXT client working currently and advised me as best as they could online. They also sent me some NX’s to test my NXT client to make sure it was working correctly.
I like the idea that these people, these investors and developers of the NXT community going out of their way to help find people’s stolen NXT, to help them test out the clients, and do these different things and offer bounties and other things for people to develop the NXT client and software and to troubleshoot the NXT protocol.
Those are some of the reasons that I’m looking at.
Keep in mind guys that the NXT source code is out there but we don’t have all the features that are there yet. Just looking at the original source code, just looking at the fact that the community is going out of their way to help each other newer users and adopters like myself… I like that.
Now the third thing that prompted me to invest into NXT is also the features and the benefits of NXT. They are not just coming up with random features and benefits.
Apparently the original creator of the NXT source code went out there and he looked at some of the problems and the challenges that Bitcoin faces. He took them into account and he came up with the solutions for them, and some things like the transparent forging, the alias system, the NXT asset exchange platform.
All these different things like creating a decentralized cryptocurrency exchange called the Multi-gateway.
All these things are coming together. So these features and benefits are not just being promised but it’s already starting to be developed and people are already testing it out. It’s getting positive reviews. That gives me a lot of confidence to invest into NXT.
I hope that this short video on the three reasons why I decided to invest into NXT, the original source code, the community of people developing the NXT, and also the revolutionary features and benefits that’s coming along with NXT.
NXT is working to overcome the challenges that Bitcoin currently faces but too big and slow to make the changes right now. NXT is attempting to solve those problems right now and not in the future.
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