wait.  so ciyam got so butthurt that he not only leaves this thread but he locks the AT thread and wants people to come to his own forums board to discuss?  wtf I dont understand how people let themselves get so butthurt over this

FC has never completed even a single project. I'm afraid we should help him...

I just wanted to ask you guys, if it is really safe to invest in NXT.
I mean, the Address is just 64bits long: What would prevent anyone (with a whole bunch of GPUs) to steal my account?

TF is going ahead the way it was planned regardless so why not take these pointless discussions to a new topic?

oh sure. i agree there. choice is always a good thing. let the market decide. im just imagining a future where we have thousands of DAC's, each one needing its own dedicated chain, it would be nice if security could be a function of the value of all chains combined rather than relying on the security provided by their own chain in isolation.

Well I've been at it over 1 month with 10k NXT and haven't seen a single block. Supposedly I'll get 100 Nxt sometime in the next 11 months but in the meantime it sure seems like a waste of time and the longer I wait the less I believe it. It's not about the Nxt for me, I've given away far more than that, but it makes me concerned for the system as a whole as I don't think many people will bother with forging if this is how it is.

Funding issues
Some thoughts in response to recent discussions.

To put things in perspective, let's see what is being done and has been done in the area of funding.

What is currently available for spending:
We have over 12 million NXT available at the community's disposal for a very long time. If we include the 5M pledged by Mr 47, we're looking at over 17 million. Bulk of this ammunition has been sitting idle due to problems obtaining consensus. Remember how long the unclaimed funds debate dragged on? That's the price we have to pay for decentralization.

We are now days away from finalizing the various committees. Once that's done, they should, in short order, be able to deploy that sizable stash of reserves to fund urgently needed activities.

What has already been donated and spent:
Newer members of our community may not be aware that substantial amounts have been donated by founders during the early days, and some continue to do so till this day. Some prefer to donate publicly, others prefer to do so anonymously. So, besides the 17M currently available, many more millions had already been spent to promote and strengthen the Nxt ecosystem. If you don't see them, it does not mean that donations were not being given.

What about apparently inactive founders?
Numerous nasty, and often unfounded, comments have been thrown at founders. These are not helpful, and will only have the effect of turning away these so called whales instead of engaging with them. I wonder if more will be actively engaging if there had been less of these negative attitude. Please realize that one way or another, founders have made a collective effort to help bring Nxt to where it is today. I see 3 broad strategies adopted by the founders to achieve this:-

Strategy 1 (Short term)
Some have chosen to take the strategy of distributing NXT fast by selling very cheaply immediately after launch. Look at the early posts in the trading thread. Many of you benefited directly from these founders' strategy.

Strategy 2 (Medium term)
Others have chosen to take the strategy of distributing NXT further down the road (after the dust has settled from the early fire sales), by donating through bounties and other means. This group provided the fuel to power the Nxt economy through the stormy days of DDoS and subsequent building of the Nxt infrastructure to the state we see today.

Notice that if all founders had chosen strategy 1, we would not have seen the increase in the value of NXT. This will not have provided the incentive for early adopters to continue working on the project. It would also not have drawn in new investors. On the other hand, if all founders had chosen strategy 2, nothing would have moved and all their NXT would be worth nothing. You can see that there is a very delicate balance between these 2 strategies. They compliment each other, and they have managed to keep this delicate balance in a decentralized manner without having to collaborate like a cartel!. It's market forces and collective wisdom at play.

Strategy 3 (Long term)
All eyes are on a very small number of large founder accounts that don't seem to move. This, I think are founders who are taking a long term strategy. These founders have decided to hold substantial amounts to act as possible network defender of last resort. They provide the ammunition needed to fight off yet unknown threats which may require a large stake to defend or to fund more costly development and infrastructure further down the road. A possible example is Mr 47. If you think carefully (read between the lines) about his last 2 conditions, you'll see how that falls under strategy 3.

If we don't lose sight of the forest for the trees, we can see that free market forces and collective wisdom of all well-meaning stakeholders ultimately work towards the strengthening of the Nxt ecosystem. More engagement and less non-constructive criticisms will certainly help.

Finally.... back to funding for the core dev team, and for that matter funding for marketing & infra. I do not think founders will continue to pile more NXT into the funds if they remain underutilized. Once the committees begin to spend the funds wisely and prudently (showing results), and when it begins to run low, I am pretty sure founders and early adopters will step up to the plate. I will be one of them.

In the long term, I do not think the community should be remain reliant on central funding for building the Nxt ecosystem. While it is essential during these early days (as a bootstrapping measure), the ecosystem should develop in such a way that it will become profitable to build services. Taking Bitcoin as an example, save for Gavin, all other developers (core, client, infra) continue to support the ecosystem through indirect "privatized" means. If we continue to pick up traction, we may be there sooner than we think.

Who is going to conduct the technical interviews?

Klee,

didnt you pay generously for two DEVs? what are they doing now?

What do you think of NXTmixer? Let us assume we can ignore quantum computers that can peek inside the encrypted data. With everybody broadcasting, there is no time based correlations. I could even make it so everybody has to send the same multiple of 100NXT, but I dont think that is necessary.

What am I missing? I couldnt have come up with a working mixer in a day?!

James

Make sure you are not running another instance of Nxt. Only then it will download blockchain.

Make sure you are not running another instance of Nxt. Only then it will download blockchain.

you are goxed

In order to have the NXT core directly interface with the BTC blockchain, we would need to put some bitcoind functionality into the NXT core. That would mean finding a Java implementation or porting bitcoind, and each and every update to bitcoind. So, it is not impossible, just impractical. By the time the new bitcoind version is ported to Java, a new one is probably just around the corner.

In addition to being impractical, doing a cross chain transaction for each transaction adds a lot of overhead and time, especially if somebody is actively trading. There is also no assurance that the trade will complete since it requires both parties to have fully funded account and to follow through with sending their side of the transaction.

The advantage of NXT blockchain <-> NXT AE <-> BTC blockchain, is that the deposit of BTC is automated and when it is traded in AE, there is a guarantee of payment. So while technically it might not be automated cross chain, it actually solves the problem of automatically converting NXT <-> BTC.

I am not the expert in the secret sharing methods for the atomic cross chain trades, so it might be possible to add to the NXTcore the required secret sharing logic that is needed for this. Then there would need to be a way for the two parties to come to agreement on price and we cannot use the AE, so that is essentially the same sort of thing, just different. After the two parties agree to a price, they would need to invoke some sort of semi-automated process where each one locally signs and broadcasts their half of the shared secret transaction. There is no assurance that both parties will fully satisfy the transaction and it could all just not happen if either of them bails out. Then assuming we have ported a subset of bitcoind into the NXTcore, it could do the rawtransaction secret sharing monitoring.

It just seems to me that the NXT blockchain <-> NXT AE <-> BTC blockchain solution is much closer to what users are expecting. It also has the advantage that people will be able to trade any crypto against any other using a decentralize AE. That will be a uniquely powerful advantage for NXT.

Which solution to automated crypto trading is your preference?

James

marcus03 setup testnet for Nxtcash, perhaps he can help us