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I haven't been keeping up.. what is the status on full release etc? And the Supernet tie-in?
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So we're slowly going to release  Whoop whoop  |
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So far it seems like only POS blockchains have produced working voting systems. In these systems the individual's vote is weighted according to the size of their stake.
Nxt can weigh the vote by a few different things: vote by stake, vote by account, vote by asset (shareholder votes), vote by MSCurrency. Here is a Voting System teaser video describing it, URL set to the exact bit I am referring too > https://youtu.be/dhJgz6hpHXg?t=69The video gives a good overview of the whole Voting System too. Goes live on the mainnet at block 445,000, excited!  |
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What are my options for storing NXT outside of a centralized exchange?
In the blockchain through the client. If you don't want to download the blockchain, try mynxt.info or mofowallet.com. mynxt.info also have andoid and iOS apps. I'm very careful about what I install on my computer. Can I install NRS in a sandbox somehow? I suppose I could run it as a very unprivileged user. I use Linux BTW. I think a web wallet is too risky. Would Jay be a good choice? jay with http://jnxt.org/nxt can work well as a Web wallet solution, also nxtvault is an android version of jay. For secure cold storage I would suggest http://jnxt.org/vaporHow does that work? Wouldn't I be trusting jnxt.org? With vapor on an offline computer you are trusting no one, there is no way for your private key to even get to the jnxt servers, you can also use the nxt today android app to broadcast the transactions vapor creates to the network through qr codes. Jay works in such a way that the client is locally downloaded and holds your private keys and is only in charge of signing transactions, those transactions are Givin to it by anything with jay.js like http://jnxt.org/nxt Neither of these setups ever allow your password to be given to jnxt.org in the first place, so minimal trust is assured. Any step by step videos yet?  |
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Can you add Sia to the assets list? Need to know: i) It is decentralised storage, like Storj ii) I think they have just launched open beta after 1 year of development iii) the market cap has leapt to $1.6 million. (Storj currently at $0.79 million) That would put it at #3 in the assets table and #24 of all crypto coins, platforms and assets. I don't think it can be ignored any more |
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Congrats *thumbs up* |
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(many ppl thought this so NXT capitalization decreased after open source..)
Nxt was never closed source. CfB is a core dev at NXT, Wrong, not for a long while. He was under contract until Apr 2014, then worked 50/50 for Nxt/own projects (most likely Jinn). Then went off line to work solely on Jinn. Here are his words. https://bitcointalk.org/index.php?topic=654845.msg10688964#msg10688964 And interestingly enough, since NEM's white paper came out, he hasn't logged into any accounts but instead left a comment that he was getting back to work coding on JINN. I think CfB is a pretty amazing programmer, but probably not the best person for a review in this situation as he has already stated that if POI works he will copy it and put it in NXT.
This is correct, but priority changed a little, I'll put it into Jinn-related tech. If being the operative word. If it works, we will all benefit. Fingers crossed! Aww, I missed you guy! |
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What are my options for storing NXT outside of a centralized exchange?
In the blockchain through the client. If you don't want to download the blockchain, try mynxt.info or mofowallet.com. mynxt.info also have andoid and iOS apps. I'm very careful about what I install on my computer. Can I install NRS in a sandbox somehow? I suppose I could run it as a very unprivileged user. I use Linux BTW. I think a web wallet is too risky. Would Jay be a good choice? mynxt.info online wallet isn't any different to using a centralized exchange, except it uses the blockchain linked to an account you create using a username and password. I've heard some people use virtualbox? Or even boot Linux from a CD everytime. I don't know Linux well. Beyond that, you would need to create a thread in nxtofrum or use the main thread where more people than me will see it Nxt 'Official' Thread: https://bitcointalk.org/index.php?topic=587007.0 |
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What are my options for storing NXT outside of a centralized exchange?
In the blockchain through the client. If you don't want to download the blockchain, try mynxt.info or mofowallet.com. mynxt.info also have andoid and iOS apps. |
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POS coins do the exact opposite what crypto should do... It makes the rich richer which in turn hurts the decentralization. So in short, pos coins are just for pump&dumpers who prey on fools.
How about if the rich get richer at the same rate as everyone else? |
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no pos coin is successful because they aren't worth anything. i can launch a pos tomorrow for 1btc and pimp it out for all to "profit"
most have ninja premines, scammy icos, or just pure scams.
Don't you see the 9th: NXT, which is PoS coins. The price bounces back over 0.00004700 BTC / NXT level. It built on Java from the scratch. It has many features and a lot of ongoing projects. Behind it the dev team is very active. sorry, i was mostly referring to the newer generation coins. NXT is an original, before pos coin spam, it has its own problems but it will live on longer than most pos coins. Proof of Stake coin wallets generate new coins by staking your existing balance. Conversely all the NXT coins that will ever exist were generated in its genesis block and its impossible to stake NXT coins. NXT is not a PoS coin. Wow, an impressive attempt to redefine the crypto landscape I think you may believe "POS" is shorthand for "POS+Inflation" ? If not POS, then what is Nxt? You cannot stake your NXT coins to generate new NXT coins. The term NXT uses is forge because the only block reward for a NXT miner is the transaction fees paid on a particular block. The term forging was chosen to indicate that no new NXT coins can ever be generated. So how does any of your points support your statement 'Nxt is not a POS coin"? It seems to do the opposite. Unless you weren't finished? 'Nxt is not a POS coin... it is a POS platform.' The total coins available for Proof of Stake coins increases over time, whereas NXT has a fixed number of coins that remains constant over time. That's why NXT is not a PoS coin. Your example makes no sense. Though I must have missed the memo from the high commissioner of crypto decreeing as much... |
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no pos coin is successful because they aren't worth anything. i can launch a pos tomorrow for 1btc and pimp it out for all to "profit"
most have ninja premines, scammy icos, or just pure scams.
Don't you see the 9th: NXT, which is PoS coins. The price bounces back over 0.00004700 BTC / NXT level. It built on Java from the scratch. It has many features and a lot of ongoing projects. Behind it the dev team is very active. sorry, i was mostly referring to the newer generation coins. NXT is an original, before pos coin spam, it has its own problems but it will live on longer than most pos coins. Proof of Stake coin wallets generate new coins by staking your existing balance. Conversely all the NXT coins that will ever exist were generated in its genesis block and its impossible to stake NXT coins. NXT is not a PoS coin. Wow, an impressive attempt to redefine the crypto landscape I think you may believe "POS" is shorthand for "POS+Inflation" ? If not POS, then what is Nxt? You cannot stake your NXT coins to generate new NXT coins. The term NXT uses is forge because the only block reward for a NXT miner is the transaction fees paid on a particular block. The term forging was chosen to indicate that no new NXT coins can ever be generated. So how does any of your points support your statement 'Nxt is not a POS coin"? It seems to do the opposite. Unless you weren't finished? 'Nxt is not a POS coin... it is a POS platform.' |
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no pos coin is successful because they aren't worth anything. i can launch a pos tomorrow for 1btc and pimp it out for all to "profit"
most have ninja premines, scammy icos, or just pure scams.
Don't you see the 9th: NXT, which is PoS coins. The price bounces back over 0.00004700 BTC / NXT level. It built on Java from the scratch. It has many features and a lot of ongoing projects. Behind it the dev team is very active. sorry, i was mostly referring to the newer generation coins. NXT is an original, before pos coin spam, it has its own problems but it will live on longer than most pos coins. Proof of Stake coin wallets generate new coins by staking your existing balance. Conversely all the NXT coins that will ever exist were generated in its genesis block and its impossible to stake NXT coins. NXT is not a PoS coin. Wow, an impressive attempt to redefine the crypto landscape I think you may believe "POS" is shorthand for "POS+Inflation" ? If not POS, then what is Nxt? |
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It would be good for groups or organisations of known members to: 1) Create a voting token in an issuing account 2) Send those tokens to your members, making sure those tokens can only be sent to or from the issuing account so votes can be sent to others (they cans till be bribed but the blockchain can't stop that) 3) Start a vote on the blockchain that only recognizes those tokens in the count 4) Have the blockchain auto-collate the result transparently and publish it at a given block height in the future 5) And to do all this for <$5 That would be cool.. |
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Another significant difference is that newly generated PoS coins are going to people who are already holding the coins as a reward. That is generally not true for PoW. And more coins mean inflation so in essence PoS coins are rewarding stakers with free coins at the cost of inflation. Personally it doesn't make sense to me why anyone would invest into PoS coins especially considering the average lifespan of coins and how rapidly things change in crypto - but that's jut me.
You assume all POS algo's have inflation, which isn't the case. |
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Ya know, it's May 2015 and there is no distributed exchange with volume > $10,000/day.
Nxt Asset Exchange has (at time of writing) $11,138 worth of trade in the last 24hr and $368,402 in the last 30 days ($12,280). It is still a distributed decentralised exchange Do you think that the FinCEN investigations will affect NXT or NXT assets? Or is it not an issue? And Daedelus... I've made about 300 trades on NXT AE and it ROCKS, man... but $10,000/day is not "liquidity"... I personally do $2-3 million in volume on the NYSE every day... plus about the same in Forex... And I'm a tiny, weeny minnow as far as stocks go. I don't think either of us claimed liquidity, that is a new topic I was just pointing out there was an exchange that met your criteria So NXT AE's day in the sun is fast approaching... But you guys need a better solution than MGW to trade Alts and non-NXT Assets... We will see what InstantDEX looks like soon enough There AE 2.0 in the works too, but I don't know much about it I think there was a thread on nxtforum somewhere though.. big discussions on what was on people's 'wish lists'. |
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There is a call for non technical users to test the testnet; your uncle, your mother your boyfriend.. everyone needs to give it a try. https://nxtforum.org/general-discussion/%28core%29-release-or-not-release/Using the testnet it easy (they designed it that way ) What is testnet? It is a play area for new features to be trialled and broken before going on the mainnet that we all use otherwise. It looks the same, works the same as you are used to but you get to play with the newest features before they are released Things beginners need to know: 1) Don't use your mainnet passwords on the testnet. 2) Do not use your mainnet passwords on the testnet. Create new testnet accounts you only use on testnet, do this and you will be completely safe. 3) Put the testnet client folder in a different place to you mainnet client folder. Cos you can't have two 'nxt' folders in the same place (stop laughing please) 4) You need to edit one file. No programming skills required, just basic typing skills. Go in to the folder nxt > conf > and open nxt.default_properties in notepad. Where it says nxt.isTestnet=false change it to nxt.isTestnet=true This tells the client to connect to testnet and not mainnet. Save the file and close. 5) This is the link to the testnet client, you can't use the mainnet one: http://localhost:6876/index.html6) Once you have the testnet client running with a brand new testnet account set up, post you account ID here: https://nxtforum.org/testnet/some-testnxt-to-test-asset-exchange/7) By doing step 6), you will shortly be sent some FREE TestNXT! (that aren't worth anything). So you will then have the ammunition to... - Have a vote on the world's best bobsleigh team
- Phase a transaction to yourself to stop you spending your pocket money until next week
- Play with the various plugins that aren't available on mainnet yet, like NxtBubble everyone has been losing their minds over recently. Play for free
- and more
Personally, I am going to create an MSCurrency and use it as tokens in a vote (yes, you can vote with stuff other than NXT ). If you want to take part, please post your testnet account here and I will send you a few tokens. If I have convinced you to give it a whirl (what is the worst that could happen?), the latest testnet client is 1.5.8e and you can download it from: https://nxtforum.org/nrs-releases/nrs-v1-5-8e/If this post is scary and frightening (understandable), then don't worry. Just ignore it and make sure you have upgraded the latest stable mainnet client (at time of writing NRS v1.4.18) Please post any questions and I will find someone who can answer them Did anyone give this a try? |
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Ya know, it's May 2015 and there is no distributed exchange with volume > $10,000/day.
Nxt Asset Exchange has (at time of writing) $11,138 worth of trade in the last 24hr and $368,402 in the last 30 days ($12,280). It is still a distributed decentralised exchange Do you think that the FinCEN investigations will affect NXT or NXT assets? Or is it not an issue? I have no idea. |
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When you are using the NXT asset exchange, you are technically buying a debt obligation of the issuer whose value is backed by the underlying asset. If the issuer were to decide not to honor their obligations then there would be little that could be done. Granted some of the issuers do take some precautions to prevent one person from controlling large amounts of funds (multisig for example), but this is not 100% foolproof.
Generally speaking you can get a number of free trades with a brokerage if you have sufficient assets held at the bank and there are companies like sharebuilder that allow you to buy stock for only $4 in commissions This is true. There have been a few example of failed assets on the NXT AE (e.g. ach and ReserveShare) where the asset issuers either suddenly disappeared or failed to issue dividends and then disappeared sometime later. There have been steps taken to mitigate the risk of scammy assets on the NXT AE, however. For example, NXTInspect is one such service which aims to audit assets on the AE by looking at their business plans. Unfortunately, it doesn't completely eliminate the risk of scam assets. Even if business plans are sound, there is nothing to stop someone from simply planning and executing a Lon con when dealing with issuing assets. The concept of using some kind of asset exchange is that you are trusting a third party with your assets which is not what Bitcoin is about. Yes, that's why I said that it doesn't completely eliminate the risk of scam assets. In fact, eliminating that risk is impossible - reduced, sure, but not eliminated entirely. The same also goes for regulated stock markets in the real world too. For any type of asset exchange, there must always be trust between the asset issuer and the buyer. Colored coins representing shares in a company are only as legitimate as the person who is issuing it. By allowing everyone to easily create tradeable digital tokens representing any kind of asset, colored coins make trading accessible to everyone. Bitcoin was designed to remove the middleman (i.e. the bank) in financial transactions. Colored coins enable the ability to securely trade and verify assets issued from a trusted issuer without the middleman (i.e. the broker). The possibility that the asset issuer might choose to scam is something that is inherent to the trading markets and is not a problem that colored coins were designed to solve. I think colored coins are just replacing one middle man with another. The status quo is that people trust their money with a broker. Your money is protected by the fact that the broker is highly regulated, the fact that the broker must keep customer funds segregated from company funds as well as SPIC insurance. An issuer of a colored coin on the other hand only has his reputation, which is really probably not that valuable when compared to a broker. Plus you have the fact that the identities of an issuer of a colored coin are likely to be unknown increase the risks that they will eventually run away with customer money. With bitcoin, you control your money when you control your private keys. With colored coins, the issuer is going to control your money The 'middle man' changes from a centralized broker, regulated by goverment to a decentralized blockchain regulated by the algorithm. I.e. an emitionless entity that can can't be influenced or tempted to cheat. Sounds like an improvement to me. The broker doesn't hold your money when you invest in a startup through them, it goes to the start up and you both pay fees to the broker. The broker can hold your shares for you but you get no protection from the issuer running away. The problem still exists and isn't what asset exchanges solve, asset exchanges replace the brokers. |
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