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1321  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 19, 2014, 07:18:16 PM

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/

Am I right that something similar can be also realized on Counterparty decentralized exchange?
https://wiki.counterparty.co/w/Assets

Sure, it can.
1322  Economy / Speculation / Re: URGENT, Bitcoin is on the verge of collapse !!! on: July 19, 2014, 03:11:56 PM
Does igorr have any reasons why Bitcoin would collapse? Bitcoin is useful. Useful things don't collapse.

They don't collapse, but they can fade away, gradually replaced by more useful things.
1323  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 19, 2014, 02:34:03 PM
One thing that I've noticed over the last month and a bit since I posted this thread is the sheer ignorance of people on this message board when it comes to the topic of NXT. Everyone seems to have these preconceived notions of what NXT is and no one seems to have actually taken the time to research or ask about the truth.

Well, in atoni's case it's not ignorance, it's FUD, because there are facts that 300+ accounts generate blocks, but he stubbornly posts it's two people controlling the network.

Here is the java code that can be used to calculate active (who have forged blocks) forgers in the NXT blockchain:

Code:
import java.sql.Connection;
import java.sql.DriverManager;
import java.sql.ResultSet;
import java.sql.SQLException;
import java.sql.Statement;
import java.util.ArrayList;
import java.util.HashMap;
import java.util.Iterator;

public class inspectDB {

        public static void runQuery(int startHeight, int endHeight) {

                Connection conn = null;

                String dbUrl = "jdbc:h2:nxt_db/nxt;DB_CLOSE_ON_EXIT=FALSE";
                dbUrl += ";DB_CLOSE_ON_EXIT=FALSE";

                try {

                        Class.forName("org.h2.Driver");

                        conn = DriverManager.getConnection(dbUrl, "sa", "sa");

                        Statement stmt = conn.createStatement();
                        // generator_public_key
                        ArrayList<String> pubgenkeys = new ArrayList<String>();
                        String stmtStr = "SELECT generator_public_key, height, timestamp, total_amount FROM block where total_amount >= 0 and height > "
                                        + startHeight + " and height < " + endHeight;
                        ResultSet selectRS = stmt.executeQuery(stmtStr);// total_amount
                        while (selectRS.next()) {
                                String a = selectRS.getString(1);
                                pubgenkeys.add(a);

                        }

                        Iterator<String> it = pubgenkeys.iterator();
                        HashMap<String, Integer> occ = new HashMap<String, Integer>();
                        while (it.hasNext()) {
                                String cur = it.next();
                                // System.out.println(cur);
                                if (occ.containsKey(cur)) {
                                        int last = occ.get(cur).intValue();
                                        occ.remove(cur);
                                        occ.put(cur, new Integer(last + 1));
                                } else
                                        occ.put(cur, 1);
                        }

                        int numBlocks = endHeight - startHeight;
                        int numAddr = occ.values().size();

                        System.out.println("startBlock  " + startHeight
                                        + " generated by # addresses : " + numAddr
                                        + " (numBlocks: " + numBlocks + ")");

                        conn.close();

                } catch (SQLException e) {
                        e.printStackTrace();
                } catch (ClassNotFoundException e) {

                        e.printStackTrace();
                } finally {
                        if (conn != null)
                                try {
                                        conn.close();
                                } catch (SQLException e) {
                                        e.printStackTrace();
                                }
                }

        }

        public static void main(String[] args) {
                int maxh = 200000;
                int step = 10000;
                for (int bh = 0; bh < maxh; bh += step) {
                        runQuery(bh, bh + step);
                }

        }
}

He will likely come up with some excuse again, just like he came up with an excuse not to set up a NXT node to check the real number of nodes in the network.
1324  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 19, 2014, 02:13:50 PM
Where does it say that 75% of the NXT is held by one or two people?

That sounds like he just means that 75% of the NXT is locked away in cold storage or something not on the network. Which isn't too surprising really. Doesn't sound like he's saying it's controlled by one or two people.

Yeah, atoni likes to twist words to suit his agenda.
1325  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 19, 2014, 12:23:24 PM
I will help you, here is quote from JL777Hodl.

"This means the active liquid NXT is probably around 250 million total, which is still plenty especially with the normal trading volumes of 1 million NXT per day."

And? The active liquid Bitcoin is probably 1 million or less, the rest is hodl'ed and never leaves wallets, what does it have to do with anything?
1326  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 19, 2014, 12:22:01 PM
Please post links to blog, etc., you can write anything here as you always do, I'll believe when I see the links. Chances are you're misinterpreting someone's subjective opinion.
1327  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 19, 2014, 11:55:54 AM
@atoni,

I have no idea which blog post you're referring to. Whatever it is, there is objective information that you get from analyzing the blockchain (300+ successful block generating accounts) and there are subjective opinions in the blogs. You need to check the date of the post also, if it was some time ago, things have changed a lot.

Likewise, there are subjective opinions on which assets to invest into, why do you ask me to comment on one of them? It's not like all the NXT community invests in one and the same assets, community is decentralized just like NXT itself, unlike Ripple Wink
1328  Bitcoin / Bitcoin Discussion / Re: theoretically there are 21 mil btcs, in reality, many bitcoins are lost on: July 19, 2014, 10:38:30 AM
100 million satoshis to a bitcoin...consider for example 1 satashoi eventually getting to $1  1 bitcoin would then = $100 Million or large enough for a small economy.

haha, dream big! Only if USD turns into Zimbabwe dollar, which is a possibility.
1329  Economy / Speculation / Re: URGENT, Bitcoin is on the verge of collapse !!! on: July 19, 2014, 06:52:28 AM
Igorr are you ready to admit defeat, or are we still right on the verge?

I too wonder where Igorr is, Bitcoin doesn't look bullish at all, Igorr should be around proclaiming that.
1330  Bitcoin / Bitcoin Discussion / Re: theoretically there are 21 mil btcs, in reality, many bitcoins are lost on: July 19, 2014, 06:48:24 AM
There are some estimates that between 500 000 - 1 000 000 bitcoins can be considered lost.
However, Bitcoin is still in double-digit yearly inflation, adding 3600 new Bitcoins every day to the supply, can't call it deflationary.

It's safe to assume that from now and into the future the number of lost Bitcoins will not increase very much, because in the past people didn't think much of Bitcoins and formatted drives without thinking twice.
So, let's assume 1 mln of Bitcoins will be lost out of 21 mln, that leaves 20 mln. useable max cap.
1331  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: July 19, 2014, 05:47:51 AM
Someone in Spain is selling their car for NXT:

https://nxtforum.org/trading-exchanges/wtb-nxt-paying-with-a-car/
1332  Alternate cryptocurrencies / Altcoin Discussion / Re: [NXT] [BLOOMBERG.COM] Bitcoin Dominance Challenged as Danish Bourse Offers NXT on: July 19, 2014, 04:05:26 AM
No. The security system of Peercoin is 100% PoS. The PoW is only for initial distribution.

Initial distribution or not, PoW is still used to produce blocks, hence PoW supports security of the network too, until it doesn't, which is a long time away. Even when it doesn't (long time from now), PPC's PoS implementation still has as much to do with NXT's implementation as bank deposits bringing yearly interest. Besides, as the post above says, PPC has central checkpoints, hence cannot be considered decentralized. NXT is the first 100% PoS decentralized.
1333  Alternate cryptocurrencies / Altcoin Discussion / Re: [NXT] [BLOOMBERG.COM] Bitcoin Dominance Challenged as Danish Bourse Offers NXT on: July 18, 2014, 07:34:21 PM
The first currency to use PoS was Peercoin. NXT came long after.

Peercoin is PoW/PoS, doesn't count.
NXT was designed to be 100% PoS, so yes, it does matter.
Besides, NXT has nothing in common with Peercoin, to start with, its PoS implementation is totally different, it's coded in a different language and it has a different architecture and features.

it's like saying bank deposits were the first, because they also are PoS and allow to 'forge' Smiley
1334  Alternate cryptocurrencies / Altcoin Discussion / Re: [NXT] [BLOOMBERG.COM] Bitcoin Dominance Challenged as Danish Bourse Offers NXT on: July 18, 2014, 07:30:27 PM
That obviously doesn't count. Since Bitcoin was the first cryptocurrency ever...it had a hard time gaining traction. NXT was not the first PoS currency...it had no excuse for having such a horrible distribution...50 NXT addresses own 50% of all NXT coins and many of those addresses could be owned by one person...That's Horrible Distribution.

NXT is the first 100% PoS decentralized currency, so yeah, it's like Bitcoin, the first in its own class. Do you know some other that was before NXT, that is 100% PoS decentralized? Name it!

Distribution of NXT is still going, perhaps half of it is completed, it will go on for some time.
1335  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 18, 2014, 06:35:12 PM
devphp mentioned Qora being on the NXT AE. Why isn't Qora more popular? Seems to be floating along so far not making too much of a splash.

Anyone here own any Qora or have a theory as to why it doesn't seem to be catching on yet? Does it still need more development and features first?

Qora is interesting, but has a few issues: 1) closed source; 2) still has syncing issues and annoying bugs; 3) no demand generating features yet (voting, naming service but those are less important features);

I consider Qora and NEM as backups for NXT. All three are PoS (well, NEM is a variation of PoS - PoI), but Qora and NEM need to run a few months on live net. They may be convenient to have a small stake in in case something fatal happens to NXT.
1336  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 18, 2014, 06:21:43 PM
Plus I'm sure someone could write something that automates the redemption process eventually. I don't know what NXT has in the way of API support going but if it's not at that point yet I'm sure it will be soon. Same goes for XMR.

There is a Multigateway (https://nxtforum.org/nxtservices-releases/), that supports automatic deposits and withdrawals, but only for bitcoin clones (BTC, LTC, Doge and something else). XMR is a different animal, but sure, all APIs are there, just need a coder who would be willing to undertake the job.

As for a manual gateway, you don't have to be a coder, it's easy to set up and operate. One optional but desirable prerequisite would be high reputation on this forum, so people can trust the gateway keeper to process their funds.

EDIT: they just released a multigateway website too.
Announcement:
https://nxtforum.org/index.php?topic=3797.0
Website:
http://multigateway.com/
1337  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 18, 2014, 06:05:54 PM
Does the gateway keeper have to manually send out coins for each sale?

He needs to send only deposits and withdrawals (redemptions of an asset), that's what he charges a fee for, but once deposited - all trades on the exchange are automatic and can go for a long time until someone decides to withdraw. Deposits and withdrawals can have a minimum limit, so he doesn't waste time on very small amounts.
1338  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 18, 2014, 03:38:46 PM

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/
1339  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: July 18, 2014, 03:06:05 PM
This is not regulation only for btc but for all "virtual" currencies.  It applies not only to btc exchanges but to the alt exchanges as well.  Yes this is NYS regulation (for now) but never the less it will have significant and immediate impact far beyond NY.

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.
1340  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT/NEM or Monero/Bytecoin? on: July 18, 2014, 02:52:01 PM
I hope so, because i have to tell you I'm starting to get a little nervous at the moment.

Absolutely no reason to be nervous.
I am, on the contrary, excited about what August and the following months will bring, a lot of changes to the crypto world are coming, and NXT is on the edge of innovations!
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