I feel we're under siege  I've noticed one or two posters flop from one extreme to the other over the course of a week. If this is you, I would suggest you have too much invested in Nxt. Consider selling down and coming back in 6 weeks. At least you will be able to sleep soundly in your bed. I am sitting on a large double figure percentage paper loss right now, a couple of months ago I was 60% up. And so it goes. I haven't sold one Nxt as there is enough promise to warrant a multiplefold increase in Nxt. x5, x10, x50... who knows but more than it worth today. I was happy to see in my reading yesterday that there are people here who have an outlook measured in years  |
|
|
|
Keep calm, guys. Salsacz only makes jokes and has to much free time right now (why?)
Doesn't matter who emule is.
http://www.youtube.com/watch?v=FONN-0uoTHI  Spoiler: "Boy, that escalated quickly..." - Ron Burgundy |
|
|
|
And I have switched to thinking that Emule is in fact..... ... Come-from-Beyond! In cunning way to test the resolve of the Nxters. Edit: He is definately not (and never has been) a whale! Hahaha. There is a little emule in everyone of us. See! Online at the at same time  |
|
|
|
And I have switched to thinking that Emule is in fact..... .... ... ... Come-from-Beyond! In cunning way to test the resolve of the Nxters. Edit: He is definately not (and never has been) a whale! |
|
|
|
Disclaimer: I am NOT accusing anybody of anything, just the last few posts jogged my memory. Just wanted to make that clear  What happened to the guy how stole Nxt, admitted it once Ricky tracked him down, said he lost it on Visacoin and wanted to give a bit of the cash he stole back? There was a thread somewhere... |
|
|
|
Good ole days
The better ones. Honeymoon period is over, now for the hard yards (distributed unevenly, were decentralised after all) |
|
|
|
If we agree that it is no ordinary coin for the above reasons, then we should consider Ricky's point about NodeCoin altering the very fabric of Nxt; and not just brushing it aside as just a coin anybody can create on top of Nxt.
Personally... I do view Nodecoin as just a project/asset/coin... but let me make one thing clear... IF the intention of " Nodecoin should be redeemable for accessing services (DAC, NxtCash, whatever)" was to exclude NXT from being used as well... then it is definitely a NO GO. +1 My understanding from readin james' posts is the NRS client runs alongside nodeminer. So John Smith will forge a block once a year but in the meantime gets 1 nodecoin a day. Lab rat effect. Nxtminer can't be run without forging at the same time. |
|
|
|
What are the current ideas of having coins on top of Nxt:
- Coins via Asset Exchange
- Coins as parallel blockchains
- Using AM (How? And is this idea dismissed?)
- ...?
The "checking in" of the parallel chains on the master chain is planned to be done with AMs. A snapshot will be taken of a parallel blockchain and then stored in the master via AM. CfB will disagree if I am wrong. Hopefully. |
|
|
|
Don't worry Nxt and I think I support nodecoin.
If it's not James who developed nodecoin, some other will develop it because nodecoin is just developed and based on Nxt according to Nxt rule. I got more than 500 nodecoins during the past 24 hours though I don't fully understand the details of nodecoin. I don't think nodecoin will affect a lot on Nxt price. If the total amount of nodecoin is unlimited, we can't see a lot value in nodecoin after building a big and saturate Nxt network. Even if it is limited, it seems that the nodecoin are not circulated as a reward to protect Nxt network, so the nodecoin in hand can only be traded and it will have not so much correlation with network protection, and in such a case will nodecoin have so much value and dilute Nxt value?
Thanks to Nxt's unique feature, tons of "nodecoin" or other altcoins will be built in the AE asset way or in the parallel chain way. Nxt provides a platform for the cryptocurrency, just like those altcoins based on bitcoin code base. We haven't see bitcoin's value is threatened so much by altcoins.
So don't worry nodecoin. James is working on nodecoin, and some other developers can work on AE, parallel chain, block chain pruning, and so on.
Anything issued in the asset exchange as it is today is limited to 1 billion. Jl777's post history has the full development of nodecoin if you want to understand the thinking, how it is structured and incentives behind it. If you have any questions, we might be lucky and will return here to answer them Moving on...  |
|
|
|
BCNext intended it not to be a coin to be used as currency (I think it is in the first or second part of his essay, rather than in his post history).
But you can't control how people will use it. So, sell it to them as a coin if you want, no one can stop you.
But the chances are, a better coin will be built of top of Nxt (to suit your needed use or world view of the creator). I doubt the value of the Nxts will be derived by its use as a currency in the future, more from how important it is in supporting more useful services.
I have a lot of respect for BCNext getting the ball rolling but HE HAS BAILED OUT OF THIS AIRPLANE THROUGH THE COCKPIT WINDOW. What his intentions were about not using NXT as a coin are now IRRELEVANT. And if we build a new coin into the NXT blockchain to be our primary unit of value as a coin (nodecoin?) then I truly believe we are going to kill NXT. NXT will be just a token used to buy access onto an exchange. There's money to be made in exchange fees. There's LOTS more money to be made being an asset. If we relegate ourselves to being an exchange fee token instead of a cryptocurrency asset, we are in big trouble. The black and white, all or nothing arguements are tiring. What is to stop those who see Nxt as a currency promoting it and trying to get it used in such as way? And can we stop another nodecoin if James agrees to stop? If not, Nxt is doomed in your scenario so we should all sell up. I don't agree with this analysis so I won't support RickyJ on this issues. Others will and then help out and this is ALL FINE! We can disagree and still progress in parallel, without falling out. Nxt as a platform has vastly more profit potential than as a currency in my opinion so I am happy to not argue against BCNext's original plan. Others disagree so lets all enjoy this decentralised wonderland and we all support Nxt in the best way we see fit |
|
|
|
They care about NXT as a coin/currency, not another stock market type system.
And besides the value of NXT as currency, they wouldn't see the advantages in buying, selling and trading assets while you have them in your pocket, not having to send them to more or less trusted third parties? Without being charged extra fees? Having the option to create your own assets for trading? Isn't all of that an added value? I don't believe they are meant to. |
|
|
|
I would love to promote the crap out of NXT, but how can I if I have to explain:
You are hired. Me: "Well its an asset exchange Joe."
Joe: "well don't we have the stock market for that already? no need to invest in something that only super computer nerds know how to work. If our stock marekt aint broke, don't fix it"
Me: "Of course we have them. But, have you heard about MtGox? That cannot happen to NXT." Joe: "Ah, alright. What's more?" Me: "Furthermore, it's easy. That new client works like a charm. Have you seen it?" Joe: "Nope." Me: "Let me show it to you." ... Me: "Let me show you how this really hard to use client that will confuse you works" Joe: "it's ok, I'll just stick to my dollars. No need to waste money on something that is not even fully operational yet" I've been getting asked about MT GOX from everyone I know because they know I have more knowledge than them. So far, what once was motivating them and almost convincing them to invest has now disappeared. That is a horrible example, I actually had to explain to a few of them that MTGOX is not the CEO of bitcoin and that NXT is completely seperate. They still think NXT is a coin, if I start mentioning asset exchange I can guarantee you they will be completely turned off and not even interested anymore. They care about NXT as a coin/currency, not another stock market type system.It can't be both? It can, but not if the concensus is "NXT is not a coin, it's an asset exchange blah blah blah" I already tried and the half-tards keep telling me it's NOT A COIN. So talk to your so supportive NXT community because they seem to not want it to be a coin. This will be the downfall of NXT if no one can agree on what it really is. You can't even mention NXT coin because a million keyboards will go off at the same time to correct you saying it is not a coin. BCNext intended it not to be a coin to be used as currency (I think it is in the first or second part of his essay, rather than in his post history). But you can't control how people will use it. So, sell it to them as a coin if you want, no one can stop you. But the chances are, a better coin will be built of top of Nxt (to suit your needed use or world view of the creator). I doubt the value of the Nxts will be derived by its use as a currency in the future, more from how important it is in supporting more useful services. |
|
|
|
I would love to promote the crap out of NXT, but how can I if I have to explain:
You are hired. Me: "Well its an asset exchange Joe."
Joe: "well don't we have the stock market for that already? no need to invest in something that only super computer nerds know how to work. If our stock marekt aint broke, don't fix it"
Me: "Of course we have them. But, have you heard about MtGox? That cannot happen to NXT." Joe: "Ah, alright. What's more?" Me: "Furthermore, it's easy. That new client works like a charm. Have you seen it?" Joe: "Nope." Me: "Let me show it to you." ... Me: "Let me show you how this really hard to use client that will confuse you works" Joe: "it's ok, I'll just stick to my dollars. No need to waste money on something that is not even fully operational yet" I've been getting asked about MT GOX from everyone I know because they know I have more knowledge than them. So far, what once was motivating them and almost convincing them to invest has now disappeared. That is a horrible example, I actually had to explain to a few of them that MTGOX is not the CEO of bitcoin and that NXT is completely seperate. They still think NXT is a coin, if I start mentioning asset exchange I can guarantee you they will be completely turned off and not even interested anymore. They care about NXT as a coin/currency, not another stock market type system.It can't be both? |
|
|
|
Nxt is a bubble I think
No, it's a snowball. Are you contractually required to say that? Time for a cuppa now I think... |
|
|
|
|
Where is Emule? Thought he would have chipped in by now...
|
|
|
|
I would like to hear more thoughts from everyone about the "State of the (NXT) Union"
It helps form a better overall picture.
(personally I fear that NXT would never reach the outside world and will always stay in the closed circle of this community, but I'm a tech newb so it doesn't count for anything)
I would really like to hear reasoning from those that believe that NXT will indeed be:
a.) the first choice for decentralized exchange and an asset exchange (ahead of other crypto solutions)
and
b.) will be so widely used among people as something we commonly use on the internet today
I would really like to hear thoughts from people that really believe this and that really see the path to this state.
(what I'm missing here lately is a clear direction and some greater confidence, because lately when comparing NXT to other crypto solutions you can feel at least a lack of purpose)
Be honest (even those that want to believe) as to where NXT is and where it's going...
My view has already partly been made when I said that the "community" gets asked for its opinion *beforehand* too much instead of being asked for opinions based on actual products. So that's my view on our development cycle: hampered by a skewed view of decentralisation. Second: I do not believe mainstream people will use Nxt.Did that get your attention?  I go a step further and state: most people do not use the internet.People use Google, Facebook, Wikipedia, but they do not use "the internet". They have no idea what "the internet", and even more: they fear "the internet" and they look strangely upon people actually involved in anything more that using a search engine or a simple email. I am sure most of us know that already. In a similar way, I do not believe the mainstream user will ever use Nxt: they will use the services made possible by Nxt, whether through the infrastructure or through well-hidden implementations of Nxt tokens within another system.Having had to explain "Nxt" to several "normal" investors, the first thing you notice is that they *do not care* about technicals and want to keep their users as far away from them as possible. They will never, ever put "this system uses Nxt" on their product. Forget it. The term "crypto" is too associated with crime and drugs to ever be used in any serious advertising. We delude ourselves if we even think that Bitcoin under that name will be used. it won't: people are extremely afraid of it, and it doesn't matter one bit that this isn't true or not. That doesn't mean that Bitcoin will be useless, it will just never be mentioned. As far as I know, Nxt still functions in every way described. AE, DX, AM etc. are all features it has. Investors that I have spoken to see this value, and one has even bitten and will use Nxt (details to follow). However, will most people use Nxt? No, they will use his system "powered by Nxt". The confusion comes in a large part from the way it was named at the start: as a coin. That name for what is actually a "token" used to operate on the Nxt system is misleading. It does point to the value however. In the second part of the TF paper, it was called a token, too, and I think it's a good designation. Recap: 1. What is Nxt? An ecosystem, encompassing all the features already described, to which the "Nxt" token grants access. 2. Will it be used by mainstream users? As a coin: no way. But then again, the same goes for all cryptos that call themselves openly cryptos. As an underlying infrastructure: hell yeah! It has more than enough potential for that. 3. Is this different from what we were told? I don't think so, but in my previous post I have already established that the same facts may lead to wildly divergent conclusions. 4. Am I blind to the tough times we are having and the lack of direction: nope. I just don't think it's an honest assesment of the four months of work and effort we have put in. Being "headless", this is nót unexpected at all. Agree, I think this is the likely future for Nxt. |
|
|
|
Nxt is a bubble I think
Those that thought Nxt would be lunar by now or could forge 10,000 a week or both are cashing out as the air goes out of their dreams. AUR/DOGE awaits. If you think Nxt can't deliver what has been promised ahead of the competition is a good reason why you should sell. Or if you believe Nxt is in competition with AUR/DOGE you should sell. Otherwise, what has changed since the highly speculative days in December? I put money in then and things have only progressed and improved. I think I will be doing the same again. |
|
|
|
Are multiple chains planned to be secured by "checking in" to a Masterchain for a fee?
Yes. Therefore, any new coins on parallel chains will check into the Nxt Masterchain and pay a fee in Nxt. So, all new coins will be linked to Nxt and will have to buy Nxt daily (tiny amount each) to support their own chains? Therefore (finally), new coins will add value to Nxt by supporting the buying side. Edit: Three important points I wanted to add: 1) Nodecoin is an asset on the AE and a proof of concept. This is different to the parallel blockchain above. It is only intended as a proof of concept but it is within nxt (part of AE) and will incur fees denominated in Nxt. 2) If we want coins on parallel chains and not in the AE, I don't think there is anything we can do to stop it. 3) James, don't get disheartened. It must feel like you are moving mountains and all anyone can do is snipe from the sidelines in between checking their wall on facebook*. What you are doing is important so keep going. Cheesy quotes are popular on the net so here goes: "If you're going through hell, keep going" |
|
|
|
I was trying to find the discussion with CfB taking part.
I am sure the idea is that new coins of top of Nxt ecosystem are planned to have their own chains that are secured by those using it (Disneyland currency, college cafeteria tec). Nxt will be the Masterchain that the rest of the chains check into at predetermined times (1440 blocks at present). This cost a negligible fee paid in Nxt. The idea, as I understand it, is to be pro-business and make barriers to entry next to nothing to encourage everyone to get involved. This also makes high tps possible as rather than one chain processing 1000tps, you have 100 chains doing 10tps each.
So, all coins will be tied to Nxt and be doing daily transactions in Nxt.
CfB, as much as I think you are probably enjoying seeing us twist in the wind throughout this stress test (!), can you please confirm or correct the above?
1000 tps is possible even with a single chain. Are multiple chains planned to be secured by "checking in" to a Masterchain for a fee? |
|
|
|
There's nothing wrong with the nodecoin name. I'm just wondering how it works. As far as I know it's not possible to know if a node is forging, so how is this determined? Is this easily gameable?
I was trying to find the discussion with CfB taking part. I am sure the idea is that new coins of top of Nxt ecosystem are planned to have their own chains that are secured by those using it (Disneyland currency, college cafeteria tec). Nxt will be the Masterchain that the rest of the chains check into at predetermined times (1440 blocks at present). This cost a negligible fee paid in Nxt. The idea, as I understand it, is to be pro-business and make barriers to entry next to nothing to encourage everyone to get involved. This also makes high tps possible as rather than one chain processing 1000tps, you have 100 chains doing 10tps each. So, all coins will be tied to Nxt and be doing daily transactions in Nxt. CfB, as much as I think you are probably enjoying seeing us twist in the wind throughout this stress test (!), can you please confirm or correct the above? |
|
|
|
|
Show Posts
