NXT Crypto For Investors #27 – Is The NXT Community A Breeding Ground For Crypto Talent?

Tai Zen: What’s up, guys? This is Tai Zen again. I got it with me today special guest Bas Wisselink, the founders of the NXT Foundation. I just want to have a quick disclaimer.

Back, in the beginning, the spring of 2014, Bas and I put our heads together with several other individuals inside the NXT community and we started the NXT foundation to help promote the NXT cryptocurrency platform.

Since then, I had some medical issues in my family, so I had to deal with that. Hence, I was not able to participate effectively in the NXT foundation as a co-founder. For that reason, I resigned from NXT.

Now, Bas and the rest of the original members handle the NXT foundation. To sum up, Bas and I are among the members who first created NXT.

I want to tell you in advance that what we are going to talk about in this video is probably a little bit of personal bias. Please be aware of that.

In this video, I caught Bas for a few minutes after we did the video about the Ardor release in the upcoming release of NXT 2.0. We were just casually talking about the talent pool that has come out of the NXT community and we’ve been talking about this for a while, not just today. We decided we would just make this video to talk about how the NXT community has been the breeding grounds for crypto talent.

We have several different individuals that are well known in the cryptocurrency community, who originally had a start or was a part of the NXT community back in the spring of 2014 when NXT first came out.

We have several big projects, which were being broadcasted in the summer of 2016. So far this year, Max Kordek, who started to help start the NXT foundation and then he went off on his own to join the Cryptyk team, had the second most successful cryptocurrency ICO called the Lisk project, which is an undisputed record that probably can’t be broken in 2016.

In addition, Max Kordek was from Germany where he participated for a while to help get the NXT Foundation started and become a part of the NXT community.

Then we have Sasha Ivanov from Moscow, Russia, who was also a former part of the NXT community. He started Coinomat, which is the original idea for shapeshift.com. An early version of ShapeShift is not the first decentralized exchange to exchange cryptocurrencies. Therefore, I actually give that credit to Coinomat started by Sasha Ivanov.

Now he has moved on to have the most successful ICO (Initial coin offering) in 2016 with the Waves platform project. So what are your thoughts on all of this?

Bas: I think it fits exactly in why I still remain with Next and why I think it’s a very strong project. It’s not bad if people split off. It’s good. Sasha and Max went on because they couldn’t find what they wanted to do within the community. At first, they did, then it became too restrictive for them, and they need to leave and do their own things. However, I do think that NXT attracts strong personalities.

Tai Zen: Do you want to talk about the other member of the NXT who also was a former co-founder of the NXT foundation? His name is David, I guess. He went off with a gentleman that goes by the handle of Come-from-beyond and they started the IOTA project.

Bas: It is the same case. Come-from-beyond was, of course, the first developer after BCNext on NXT. It’s a very mercurial fellow but always interesting to read. They started a completely new system, which isn’t even blockchain-based anymore. It’s called Tangle. It’s a system without fees that specifically end the Internet of Things. It the same thing. David is also a very strong personality and very forceful

Tai Zen: Don’t forget we got the two Oracles of cryptocurrency, LeonFu.com and I, who originally started out in the NXT community. Now we have the most popular and fastest growing cryptocurrency investing channel. We took a different route instead of going into the development of a new cryptocurrency or a new platform.

Since he and I started from the stock trading in the investing world and currency Forex trading world, when we got into Cryptocurrencies, it was just another currency for us to invest in and trade in. Now we have the most popular and fastest growing cryptocurrency investing channel on the Internet.

For some reasons, the NXT community attracted a lot of talent to the NXT project and now everybody has gone off to start their own projects and have become very successful at what they do.

Bas: One group that also needs mentioning split off very early in Next development and created a well-known project, NEM. They formed their own community around December 2013 and January 2014. Besides, they also formed a very strong community, Tenacious, working under the radar for a long time and look at where they are now.

Tai Zen: They are actually one of the most popularly traded and invested cryptocurrencies right now. I actually bought some at 350 Satoshi and held onto for several weeks. Then, there were other cryptocurrencies moving, so I took my money out of NEM (New Economy Movement) and put it somewhere else. After that, it shot up and I missed a good 4 or 5x return by taking the money out a week or two before the big run-up.

Bas: NEM started on the asset exchange, which was the first successful exchange. Another one that people don’t seem to remember that also started on the asset Exchange,SiaCoin. The technology, of course, was not developed on Next but they did choose to use Next to do their first crowdfunding and sales.

Tai Zen: Now they’re at the front lines with MaidSafe and Storecoin. They were the three contenders in a decentralized Dropbox or a decentralized Google Drive.

Bas: If you look at Sia and NEM, what they do also matches with what we do at Next too. I do think there is a common denominator there because Sia also does tend to be a very consensus about how they develop. They don’t go quickly. They don’t shout it all off the rooftops. Besides, the main developer is very consistent, who doesn’t like to say stuff just to drive the price.

This is also what I see in NXT. We could shout a lot. Why would we? There’s no reason to do so especially if you can’t actually make it happen.

Tai Zen: All the people like I, LeonFu.com, Evil Dave, Sasha, Max followed along and joined the Bitcoin bandwagon. However, in the spring of 2014, all of us jumped on the NXT train.

Why do you suppose that all these people like Sasha from the Waves platform, Max from the Lisk project, David and Come-from-beyond from the IOTA project, all these guys from the NEM project and us with the Cryptocurrency.market channel on YouTube? Why do you suppose that we all gravitated towards NXT?


I think I can only speak for myself and maybe can add something to see if it’s true, but what did and still appeals to me in the NXT community is that it’s the very open environment. Of course, that can lead to a fault because it also means that it’s pretty easy to start a scam there, for instance.

However, NXT starts out with an open attitude. They start out with the attitude like “This is cool. Show us what you’ve got”. That’s very different from a place where it’s doesn’t start from that, but actually stops there and say “Where are your credentials? Show us first. If we think you can’t explain it completely, it’s nonsense.”

I’ve worked in many creative businesses and one of the main rules of brainstorming is don’t break the flow and don’t say no. Don’t start with objections, instead, start with associating. This is something which is, for me, a core value in the NXT community.

Later on, at a certain point, you reach a limit, which happened for some of the people who left. If you’re made to feel confident, you also think that you can do it on your own. You become confident and you are going to start your own project because you think you know how it works now. I think that’s something that you can really find in the NXT community.

Tai Zen: I notice one common denominator is that we’re all people who want to innovate, try out and take the risk of new things.

As I remember, when LeonFu.com and I first started investing in Bitcoin and into different cryptocurrencies, our colleagues, friends, and family laughed at us and said that we’re stupid and crazy.

They said this was just Play money or Monopoly money. We were idiots for doing this. Then, a couple of years later, he and I have made literally thousands of percent of the profit from investing cryptocurrencies.

Back to the days, there were people thinking that we were joking, lying or just making this stuff up when we told them. We lost a ton of money trying to figure this stuff out, but we also made even more tons of money from it.

I think that one of the common denominators I see among all the people that have branched off from the NXT community to create their own projects that have been successful is that they were just willing to take the risk, try something new and not be afraid of it.

As you said, the NXT community has always been pretty much “fairly inviting” newcomers to come and learn, to ask questions, to be able to get people on Skype or Google Hangouts to talk to them directly and not be shunned. You don’t have to be an expert when you come in to learn things.

I think that once people come in like I LeonFu.com, even yourself, Evil Dave, Sasha, and Max did, they can learn and realize that I would like to do this. Instead of getting permission from some people in the community, they just branch off and do it on their own.

Bas: Well exactly and I think that’s a very strong thing. Why do you have to ask for permission? There is really no need.

Tai Zen: I thought I just wanted to make this quick video and just share with the community because not too many people realize that many of the big things that are going on in the cryptocurrency community in 2016 are form a bulk of the people involved originally came from the NXT community.

At the moment, there are other projects going on that are based around the Ethereum team. Not many people realize that NXT was the first Bitcoin 2.0 of the first cryptocurrency project, which did not use the Bitcoin software. NXT was not a clone of the Bitcoin software. Therefore, Ethereum is actually the second Bitcoin 2.0.

Bas: Maybe even the third because BitShares is also still out there.

Tai Zen: Exactly. BitShares are still out there.

I’m going to step out on a limb here and even go as far as possible to predict and say that NXT 2.0 may be the Bitcoin 3.0, based on the release of the Ardor project and what you guys are working in the background.

I’ve noticed one thing inside the NXT project is every time a problem comes up with the scaling, security or consensus issues, the way they manage is just go ahead and incorporate it in, not argue or debate too much about it. They actually just do it.

When NXT first came out at the end of 2013 and the beginning of 2014, I think that’s leapfrog ahead in technology. Along with the release of NXT 2.0, it’s also another quantum leap forward in blockchain technology. I don’t know how you think about this. I don’t have a technical level like BCNext, Satoshi or some of these guys, but it’s just the direction I see that NXT is going.

Bas: I would try to characterize it a bit differently. We still in 2.0 and 2.0 I would define as expanding on what Bitcoin started. Bitcoin does one thing really well and all the other things you need to do is a lot more difficult. You need to build an architecture around it.

Therefore, we have a few projects that add stuff to it such as NXT, BitShares, and Ethereum, etc. They all are different branches of that specific movement.

It’s not as if one follows from the other, but they’re fundamentally different architectures doing a similar thing, which leads to the confusion that they’re alike, which they’re not.

Ethereum is not alike NXT. We are trying to do something different. BitShares or Graphene is the same thing. Hence, I would all call them branches of 2.0 still. Speaking of Bitcoin 3.0, I have no clue what it could have been yet, so I will come around at some point.

Tai Zen: Thanks for joining us and sharing with us, Bas. I think it’s a bright future for cryptocurrency as well as NXT. Let’s see what other talent comes out from the NXT community. In my opinion, it has proven to be the top breeding ground for talent inside the cryptocurrency community so far.

Bas: Let’s hope more come from it.

Tai Zen: Thanks for joining on this broadcast. If you like this broadcast, like give us a thumbs up. If you don’t, give us a thumbs down, so we stop wasting time making this video. By the way, what is the best way for people to follow you on the Internet, Bas?

Bas: At this moment, probably Twitter. I put everything on my Twitter, @damelonNXT.

Tai Zen: I will leave that in the description and thanks for watching this video and we’ll see you guys in a future video. This will conclude the live broadcast.


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