Next week.  I need time to implement and test all changes proposed by Cunicula.

Yeah, a little bit   I'm excited to see my dream is becoming real.  A month ago I had only an idea, now I've got people who believed me.  They are becoming Nxt adopters, they are developing services for Nxt, now I'm sure that this project won't fail.

Regarding my identity...  I will stay anonymous for the time being.

The only way to prove you wrong is to develop what I planned.  You can wait until you see the progress and then join us.  You won't get the early adopter bonus but that's the way RISK vs REWARD works.

I can not give you exact numbers.  Try to assess them taking into account some facts:

1]  Nxt does not require to waste electricity (no centralization of mining power around pro-miners)
2]  Colored coins will lead to a revolution in finances (decentralized exchange of property in atomic transactions)
3]  Instant transactions (I can't find words to explain how it's cool)

Nxt collected 1,500 USD worth bitcoins.  I'll eat my hat if in half a year they won't be worth a couple of millions.

Let's try to do it such way

1]  Post here a link to your webpage (facebook, twitter, blog) that spreads the word about Nxt.
2]  Publish your Nxt account id.
3]  Wait for some coins from a donation pool after Nxt is launched.

I will set up the donation pool account right after the launch.

Nxt is a decentralized currency and I am just a developer.  I expect Nxt users will do marketing and PR.

How will I know that a particular forum member is a stake holder?

I can't give away 1 million coins, they are not mine.  This million would be taken from those who paid/will pay with bitcoins, reducing value of their nxts.

Could you explain what you mean when say "disappear"?  In the OP I stated that "BCNext" is my second BitcoinTalk account.  I made it to be anonymous, noone needs to "disappear" if their identity is unknown.



All service == faucet + currency exchange + stock exchange + virtual goods store.  They are listed in the OP.
I do need funds to launch some other projects, but it's too early to tell about them.  Frankly speaking I need these bitcoins to start the development and then I expect Nxt price to skyrocket (when users see Nxt has a lot of superior features like reliable instant transactions). Then I sell some of my nxts to get the rest of the money.



There are a lot of well-maintained sockpupets with 1+ year history and 100+ posts.

I would like to hear your feedback on https://bitcointalk.org/index.php?topic=316104.0 (Instant transactions with guaranteed confirmation)

This thread is dedicated to discussion of Nxt features (https://bitcointalk.org/index.php?topic=303898.0), don't confuse it with Bitcoin or other altcoins.


In Bitcoin a payment is made by transferring all coins from input to output addresses with difference between input and output paid as transaction fee.  If someone wants to send only part of the coins they must send the rest back to one of their own addresses.  An attempt to use the same input twice is a double-spending, only one of the transactions will be confirmed even if enough money is sent back.

Unlike Bitcoin and its forks, Nxt uses a single account instead of multiple addresses for each user.  It is possible to send multiple transactions from the same source address (called "account"), all these transactions will be confirmed if the account holds enough coins.  Someone still can attempt a double-spending by paying for something with low fee and then sending all their coins to other account with higher fee, making it impossible to confirm the first payment.

We can counteract a double-spending attack in Nxt by using special accounts.  A special account has certain limits that don't let to create transactions for more than (for example) 1/10th of the balance in total within a 24 hour timeframe.  The network will simply ignore transactions and blocks that violate this rule.

A merchant (or a vending machine) can accept payments from special accounts without waiting for confirmations.  The only thing should be done is checking that a received transaction doesn't violate the rule.

Does anybody see flaws or disadvantages in such design?

P.S.  Payment privacy in Nxt will be provided via mixing.

Why?

2/3 chose colored coins.  So be it.

Nxt is not mine, it's our.  I can't decide such things alone.

The raised funds will be spent for further development (for example, now I'm negotiating with guys who are willing to create a product similar to http://bitcoincard.org/).  You will not get the bitcoins back in any case so temptation shouldn't be taken into account.  If you worry that you will not get NXT then go to http://88.198.210.245:7875/ to see it's not a vaporware.

It's a terrible idea to distribute NXT equally to the first 1000 forum members.  There are so many sockpuppets here.

Thank you for the advice.

Any suggestions how to implement colored coins before I start coding?  I am planning to start development next week.

What about the rules:
1]  The longest chain wins.
2]  If two chains are equal then a chain with a greater last block id wins.
?

Id of a block = 8 first bytes of SHA256(BlockHeader) in the little-endian byte order.  Block header contains hash of all transactions.

1 block maturity period for established addresses should resolve the issue, right?

I had a small talk with the guy who is launching the stock exchange for Nxt.  He was curious when the colored coins feature would be ready.  Colored coins remove necessity in a third-party service because securities represented by colored coins can be traded for ordinary NXT in an atomic transaction.  This is a superior feature (no trust to anyone required, no fees charged by third-party services) which could make the stock exchange unpopular.  I expect to have colored coins implemented upon the Nxt launch.  A decentralized stock exchange has a big disadvantage though, all transactions require 1 minute to confirm (in average), no high-frequency trading.  I want you all to answer the question:  Do we need a centralized exchange?