Nexus x IM community AMA RECAP
TELEGRAM AMA: Im Community & Nexus 🐋
⏰ AMA Timing : 26 November 2021 l 04:00 PM UTC
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 100$ NXS
Bà Tân | : Welcome Phil from Nexus
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Nexus
Bà Tân | : Today our guest is: Phil from Nexus
Bà Tân | : Today’s AMA will have 3 session
Session 1: Project Introduction
Session 2: Question From Twitter (https://mobile.twitter.com/IM_Communityitw/status/1463864315505614849) (will choose 5 question)
Session 3: Free Asking (will choose 5 question)
Bà Tân | : Requirements:
���Im Community (https://t.me/imcommunityitw)
���Nexus Community (https://t.me/NexusOfficial)
���Nexus Price Discussions | Trading, Investings, Price Predictions, Brainstorming (https://t.me/nexusprice)
���Twitter Nexus (https://twitter.com/NexusOfficial)
���More information about Nexus :
Phil : Shall I post the questions from Twitter?
Bà Tân | : We’ll save it for session 2 of the AMA.
Phil : Ah ok
Bà Tân | : Start session 1 AMA.
Bà Tân | : Question1. Could you please give us a simple introduction of Nexus? What’s the motivation for starting build Nexus?
Phil : Nexus is a decentralization project. We believe that most of the problems in this world are due to the system that we live in. Centralization is the source of all corruption. In other words, absolute power corrupts absolutely. So the counter to that would be decentralization.
If you think about humans, they adapt to their surroundings. If they live in a system that incentives greed, then humans will be greedy. So we are creating a system that incentivizes cooperation so that everyone’s interests are aligned. That way everyone will naturally cooperate because it is in their best interest to do so.
So we are focused on not only decentralized currency, but also decentralized internet, decentralized banking, decentralized government, etc.
Ahrix : Please say “Done” when you have finished the question, thank you.
Bà Tân | : Question2. What are the unique features Nexus provides as compared to other projects?
Phil : There are so many unique features! My favorite is the signature chain. With other cryptos, once you take it off an exchange, you need to store it in your software or hardware wallet. If you lose the hard drive/computer, then you lose your coins. This is similar to storing cash under your mattress.
With Nexus, your coins are stored on the network itself. All you need to do is memorize your login, password, and passcode, and you can access your coins from any wallet in the world. This is the most secure and convenient way to access crypto.
Nexus transactions fees are basically free. You will never have the problem of exorbitant gas fees like ETH. Nexus is also scalable, so you won’t have ridiculous transaction times like BTC.
Nexus is one of the few quantum resistant cryptocurrencies. You read about advances in quantum computing technology all the time in the news lately. Its only a matter of time before we need quantum resistance.
Here is a chart comparing NXS to other coins. Nexus has the best tech. Its only a matter of time before people realize this.
Bà Tân | : Question3. What role does the $NXS token play in your ecosystem? What are the benefits of long-term holding?
Phil : The completion of Tritium ++ will include a P2P marketplace for all Nexus tokens. This is where ppl will be able to trade all tokens/NFTs built on Nexus. As far as I know, there are no plans for swapping with other non-Nexus coins.
As far as the benefits for hodling…well we plan on it being the dominant currency of the world ���. All tokens will be built on Nexus technology because it is simply the best tech.
Bà Tân | : Question4. Can Nexus team please update some Nexus latest news or major events to attract more users?
Phil : The completion of Tritium++ is imminent. I cannot give an exact date but it is very soon. We are very excited for it’s release because it will enable us to start trading NFTs on the P2P marketplace.
One reason we avoid giving out specific deadlines is because of the manipulation that goes on in the market surrounding these events. “Buy the rumor, sell the news” type mentality. We want to discourage any pump and dumps in our market because it discourages new people from investing.
Nexus is a long term investment for sure. My suggestion is to buy the dips and don’t worry about the price too much. My advice is to only buy enough that you don’t worry about the price. It is more important to learn about the technology and share it’s potential. The best way to learn is to listen to videos of Colin Cantrell, the creator. He has many videos on YouTube.
Bà Tân | : Question5. What has the Nexus team achieved? What is the current and future development roadmap of the Nexus project?
Phil : Nexus is about a 7 year project which is considered pretty old for a cryptocurrency and it is projected to be completed around 2024. Most of the achievements are “under the hood” so to speak. If cryptos were cars, most other projects only focus on making it flashy on the outside, while Nexus is focused on the engine itself. Its only a matter of time before other cryptos start collapsing under their own weight. Long transaction times, ridiculous fees, networks crashing, that is what happens when the infrastructure is not sound. Nexus is focused on making the infrastructure as strong as possible so that new developers can build on top of that. That is why it is not immediately apparent what Nexus has accomplished, because noone sees the infrastructure.
For anyone out there that has never used NXS, I recommend downloading the wallet and try transacting with it. It is easy to use and works smoothly. Its an actual usable currency right now unlike most other cryptos.
Bà Tân | : End of session 1
Bà Tân | : Session 2: Question From Twitter (will choose 5 question)
Bà Tân | : Question1. Blockchain technology hasn’t even reached 1% of the global available market. What’s needed in order to bring the other 99% of people intothe space? So My question is What Nexus team is doing to make Blockchain technology more adoptable and can use it globally? @Lidiamga
Phil : You’re right. Most of the cryptoworld is little more than an online casino of people chasing the next dog coin pump. This will attract only gamblers that will never take the coins off the exchanges.
We want people to understand what Nexus really is. Its not just a crypto. Its a method of decentralizing the world. The currency is just one aspect. I believe blockchain technology will be known as one of the great inventions of our lifetime next to the internet.
Using this tech, Nexus will be creating a free globalwide decentralized internet using a satellite mesh network. These days, censorship is a huge issue on the internet and social media platforms. A decentralized internet will ensure the free flow of information.
The DAO will also become a huge part of future governments. Nexus is test piloting a new decentralized governance structure called the starfish which will eventually incorporate the DAO. This structure is mathematically designed to maximize creativity and minimize corruption. Centralization is the source of corruption and we intend to eliminate that.
The key to global adoption is education. Many ppl find crypto confusing or intimidating. Ppl need to understand that it is a tool for our liberation. Carl Jung stated, “Money is coined energy”. Right now, it is the central banks of the world that control the flow of energy in this world. Crypto allows the people to take back control of that energy. Nexus is the true people’s coin.
Instead of asking the Nexus team how it will be adoptable, we encourage everyone to think of their own ways to make it adoptable. We are a community run project so anyone that has the drive can participate. Our starfish DAO is designed to allow the community to take part if they choose to. We are currently working on a project to fund permaculture food forests in Zimbabwe to feed impoverished communities. Eventually we want to create an economy that is independent of the system. You can follow this project here. https://twitter.com/WOTRPPhoenix/status/1432065766283677698?t=eH57-FbAjL4pPS88yegbMg&s=19
Bà Tân | : Question2. Will you plan to raise the awareness of your project in regions that English is not well-spoken? Any local communities to bring them better understanding of your ecosystem? @Shakila09715551
Phil : Yes! Nexus is a worldwide community run project and we love when other non-english speaking communities take part. If there is no nexus community in your native language, we encourage you to start one yourself! If you join our community chat, https://t.me/NexusOfficial , and ask for Kat, she can help on how to do that. Change starts with you.
I personally think that Nexus will gain popularity more quickly outside the U.S.. Americans are still comfortable and have no need for crypto except for gambling. It is the ppl that are suffering that will truly appreciate what crypto can do. I believe we can lift entire communities out of poverty.
Bà Tân | : Question3. Most projects are now abandoned in the middle of their operations due to a lack of sustainability and incapacity to support expansion in a market that is wildly shifting. How will Nexus be able to deal with market fluctuations in an efficient manner? @OpuGhosh2
Phil : Most projects are just copies of Ethereum. The ERC-20 token. These all get abandoned after the early adopters dump their coins after the pump. It is sad to see the greed that dominates the cryptoworld.
Due to Nexus’s relatively low market cap, it is vulnerable to pump and dumps as well. This is not due to the Nexus Community. There are pump and dump groups out there that cycle through coins with low market cap. Before buying, take a look at the chart to see if there is a huge spike in price. I would avoid buying during those times.
We are aware of this problem and are working on a way to combat these pump and dump groups. A decentralized way to create liquidity and stabilize price. Will let you guys know more in the future. In the meantime, just be careful of sudden rises in price and don’t chase.
Bà Tân | : Question4. “Many blockchain projects are just on paper and have no real meaning. What practical product is “Nexus’ using? What plans do you have for a better product in the future? @JoyWarrent11
Phil : Our scope is so large that it is hard to explain with just a few words. Many blockchain projects like to throw around the word “decentralization” so it is hard to tell what they mean by that.
Nexus is laying the groundwork for a new civilization. An entirely new way of thinking and living. The entire world is going through a transformation right now. Many systems are collapsing because ppl are waking up to all the corruption. When the system fails, ppl will need a new system to turn to. That system is Nexus. Nexus is designed to last hundreds, maybe thousands of years. It is intended to replace the current system, not coexist with it. We don’t have to fight the system with protests, or lawsuits. We can just boycott it, and Nexus will allow us to do that.
This is one of my favorite videos of Colin explaining his vision for Nexus.
Bà Tân | : Question5.NFT is in top trends in crypto world rightnow. What do you think about this? Does have any plans to add NFT to your ecosystem? @BENSTOCK26
Phil : We are just beginning to understand the usefulness of NFTs. Right now, there are some questionable uses, such as the image of a pixelated rock that sold for over a million. I do not think that is the future of NFTs.
For me, NFTs are exciting because it can be a way to use smart contracts to align peoples’ interests. They can be used to move funds to and from many different people in a way that’s never been done before. We can raise funds to help communities without having to worry about a third party to hold those funds for us.
NFTs can be whole organizations and ownership determined by the numbers of tokens issued.
NFTs can be used to distribute music, which would liberate artists from record labels.
I’m sure there’s many other uses for NFTs that noone has thought of yet.
We are planning on using NFTs to raise funds for a village in Zimbabwe. I don’t want to give away the details yet, but you can follow our progress here. I am very excited for the future! https://twitter.com/WOTRPPhoenix/status/1452336454626156557?t=sreUabD6Kdg0XJqGqoLqAA&s=19
Bà Tân | : Congratulations to the winners of session 2.
Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses Phil ���
Bà Tân | : End of session 2
Bà Tân | : We’ll move on to session 3
Bà Tân | : Session 3: Free Asking (will choose 5 question)
Bà Tân | : Don’t forget to join the group https://t.me/NexusOfficial
Bà Tân | : Group will unmute now so everyone can ask questions.
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : Now let’s give our dear guest Phil some time to go through them.
Bà Tân | : Please choose the best 5 questions and answer it for session 3, Thank you.
Q1. Which one is more important to you:
If all of the above is important to you, which should come first?
Phil : Community is the most important in my opinion. Right now, price is completely unhinged from the tech. Ppl only care about dog coins, or Elon’s tweets. This is not what Nexus is about.
More important than buying NXS, is learning what Nexus is. Once ppl truly understand, then they will want to spread the word. I don’t worry about price too much. Ppl who are patient will be rewarded. We want to attract people that are focused on making this world a better place.
Q2. My) Q)sir
Is your platform suitable for crypto beginners?? Or does it only limited for professional users..?���������IS This Your project only for elite investors, how about others with small funds, is it open to everyone? ���������
Phil : Nexus is the people’s coin. Of course we want to attract developers (and we will, once they realize how good the tech is). But I believe that real change will not come from rich investors. Change will come from the bottom. We encourage anyone to participate if they have the drive.
You don’t need a lot of technical knowledge to participate. You don’t need money to participate. You just need ideas and a willingness to help people. The only real qualification is the ability to love.
I personally don’t have much technical knowledge, I leave that up to Colin and the other developers. To be honest, my most relevant experience is that of a gamer. To me, life is a game and planet Earth is the server. We have been taught by our governments to live a certain way, that we need to go to school for a certain number of years, and then go to a job for a certain number of hours, barely having enough money for food and shelter. But we don’t have to think that way anymore. We can change the rules anyway we want. We can make better rules that benefit everyone. That is why I say that life is a game and it’s time we rewrite the rules.
Q3. ⏭️ How your tokens are in circulation and what is your total supply? What is the schedule for Unlocking of listen token? In short, please assist us with your structure of Tokenomics?
Phil : The supply of NXS is intended to mimic that of gold. The supply is targeted to reach 78,000,000 by September 2024. After that, there will be an adjustable inflation rate that is currently around 3%. You can find details about the economics here. https://nexus.io/ResourceHub/economics
Q4. IF THE BEAR MARKET COMES Will your token PROBABLY DUMP,?? Do you have any plan to prepared for this bear market,/How will you handle the panic sell.??
Phil : I think if ppl are worried about a dump, then they are overinvested. Be mindful that fear and greed do not dictate your decisions. Just buy the dips and don’t worry about the price. If you are looking for short term gains, I suggest looking elsewhere.
Due to energy and food shortages, and massive amounts of money printing, there is a good chance that the dollar will collapse due to hyperinflation. When that time comes, society will be looking for a new usable currency. That is when Nexus will shine.
Q5.What are your upcoming plans for the community and as well with the ecosystem?
Phil : We are test piloting something called the Starfish, which will be eventually used as a DAO. This structure is designed to scale and can eventually be used to run entire countries. I believe it will be the future of government. Anyone in the Nexus Community can take part. If someone has a project that ppl find promising, then that person can get funding from the Nexus Embassy. I encourage anyone to join the community and speak up if they want to participate.
Bà Tân | : Congratulations to the winners of session 3
Bà Tân | : Thanks for the useful information from Phil
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @NexusOfficial for answers.
Bà Tân | : IM Community, if you would like to know more about Nexus ! here are some useful links for you:
Official Website: https://nexus.io
Bà Tân | : Allright, I declare the Im Community AMA with Nexus has ended.
Thanks to Phil | Nexus joined us and provided us with Nexus information, we hope that this knowledge makes us understand more about https://nexus.io (https://nexus.io/)
To the members, thank you for following this event to the end. winners will be announced soon.