Sounds to me like you are talking about Nxt!  That's where the majority of my money is.

Instant Transactions are still in progress though and going to take a little while to finish implementing.  My project

Actually what he said is that digital money is the future but it's not going to be future of money because it protects consumers identities too much.. or rather has too many privacy features built in.

Very interesting theory.. do you have an wallet address(es) linked to the Winklevoss to back this up?

Though even if 1% of the BTC were dumped, that'd be $50 million, we've been getting volumes per day higher than this.  True that they only need to dump enough so that others will panic and dump themselves.. but I'm not sure I buy it.

Plus don't they still need a large number of BTC to back the ETF funds?

Mostly speculators panic dumping.  Let them.. those who truly believe in Bitcoin can buy in cheaper.  And pay attention to the volumes we are getting.. and keep in mind for every seller there is a buyer.

Or park your money into alts.  I prefer Nxt.  Notice that they are mostly all up relative to BTC.

Plus the market is still trying to figure out the correct price.

I think you are thinking about Peercoin and most other POS implementations which pay forgers via a steady inflation rate.. with Nxt the only thing powering the network is transaction fees.  Meaning that the currency is capped and there will never be another Nxt created.. though they can be destroyed.  So no, Nxt is not inflationary.

Thought this was pretty awesome and worth passing on:  http://hashrate.org/

What do you think?

What is the total supply of XCN going to be?  Interested in buying in but if only 1% of the coin has been released, meaning the price is basically actually 100 times higher.. may have to rethink that.

Why is a decreasing block reward 'fairer'?  Wouldn't it be better to have an increasing block reward due to those getting onto the coin later on mining fewer blocks due to an increased number of people mining them?

Let's say fairer means more evenly distributed.  If you could get 1 unit of currency into the hands of every person out there, it would be ideal.

AND not have them dump it on the market the way Auracoin happened because they didn't need to risk anything to buy them.

Some of these IPO currencies have received a lot of grief over it being unfair the way they were distributed.

Why is mining any more fair when early adopters can mine a lot more than later adopters? (very similar to an IPO.. except later adopters have to purchase the currency for higher rates)

So, what do you think is the most fair way to distribute a currency.. not necessarily run it but initially distribute it.

Nxt is a solid investment, it's continuously but slowly going up, unless you time a bubble right, it's not going to make you rich overnight until some more thing start happening and the network effect will start growing.

However, I find it very promising to go to dgex.com, look at their exchange and zoom out to look at Nxt over the course of a year, it shows the average weekly price for the last year, and it a steady gradual up.


You haven't heard of Nxt Organization yet I take it.. don't worry you will

Basically a bunch of Nxters who were tired of the committees taking so long to do anything and are working hard to make things happen.

No.. that makes sense, before he invested:
https://bitcointalk.org/index.php?topic=664146.msg7560993#msg7560993

After he invested:
https://bitcointalk.org/index.php?topic=679185.0


But yeah.. CfA is obviously just trying to manipulate opinions rather than having a real discussion.

Regarding censoring, there are some centralized sites that will be doing that type of censoring and only posting the items they want.  Melido.us is for example creating a site to sell music via the marketplace.

Also, you can view the shops of individual users, so people can can choose what shops they would like to shop from.

It's already possible to buy drugs or most of that stuff online, heard of dark net?  Already possible to buy that stuff: http://motherboard.vice.com/en_uk/read/i-let-grams-guide-me-through-the-dark-nets-illegal-bazaars

Anyway nxt community would like to try to distance itself from that stuff and there will be plenty of legitimate businesses selling goods via the marketplace.  And regarding legitimate uses, think about selling music via iTunes, Nxt will charge a very low fee relatively speaking, meaning artists make more and customers pay less because we're cutting out the middle man.  Same for eBooks and computer games.

Point being, there are legitimate uses for the marketplace.

Not bad for only a few days.  Maybe we should make a tutorial for how to use the marketplace? Does it exist already?

Regarding price, the way I see it:
Price goes down due to:
-Merchants being paid in Nxt, then selling those Nxt to cover USD expenses

Price goes up due to:
-People buying Nxt, so they can buy items sold via marketplace
-Nxt being used as more of a currency as I suspect that merchants are more likely to keep their money as Nxt.  Partially because it's more of a hassle to cash out then it is via BitPay.  Partially because this should attract those interested in crypto more than others, and they are therefore less likely to cash out.
-Increased marketing for Nxt as it's yet another very cool feature of Nxt
-People downloading the client, realizing all the cool features Nxt has and getting over that initial hassle of setting it up so they can sell items, then deciding that they'll hold on to some Nxt.

Volume goes up in general.

I see it as sort of the craigslist of crypto.

No, he had access to all of BTER's passwords.  He only choose to clean out the Nxt account.  Personally seems stupid to me, I would've set up wallets and cleaned out all their coins at once.. of course to be fair, he was only trying to cripple the exchange, so that he demand a bounty out of them and strike a deal.  Basically he wanted to be rewarded for hacking their exchange.. but on his terms and wanted a deal so they wouldn't pursue him legally.  Of course luckily for them they quickly found out his real name.


Not for long.. Nxt is superior to BTC. Nxt has Proof of Stake figured out.  They actually have a method that makes it resistant to 90% attack (granted it's not fully implemented).

It has the most widely used asset exchange.

Just released decentralized marketplace.

Big community.

I'm working on implementing the first decentralized instant transactions. We've got the algorithm figured out.

For those of you who haven't spent enough time looking at Nxt.. look closer, you'll all be wishing you'd jumped on board when it was going for the current market rate.

Bitcoin can have the moon.. Nxt is going to mars!


I'm with you.. I'm 90% Nxt, 10% BTC.

Keep in mind, that BTER was hacked and the hacker had access to all of BTER's cryptos.  He told Nxt because he felt it was the most valuable, and returned 85% of it to BTER.  This was a compromise where the thief was trying to get away with as much as he could without destroying BTER, or especially Nxt.  So he got away with 51 million.. returned all but 8 million.

This was BTER's fault, not Nxt's.. and a far larger percentage of BTC have been stolen than Nxt.

Also the promise of anal sex if he returned the funds may have played a part.. lol

For anyone who didn't see it, Nxt published a more official whitepaper a little over a month ago(July 12, 2014):
http://www.nxtcommunity.org/nxt-whitepaper

They haven't been advertising themselves as well as I'd like but Nxt is doing some pretty amazing things, recommend you check them out.. before they launch some of their new marketing campaigns soon.

Am I right that Bitcoin is capped at 3 multi-sig signers or is it possible to do multi-sig with more than 3 signers?

Maybe even something external to source code like 3 groups of 3 signers all sign together and create their own key, meaning you'd need 9 signers.. or something like this?  I'm guessing no, but just wondering.

Thanks.

My worry is always that people are going to wake up, realize just how awesome Nxt is, the price will skyrocket and it'll be too late to get in cheap.

I'm talking Nxt, because I know Nxt.

First of all, I believe Nxt has ~30% of the stake currently forging, so you're talking more like 15% of the stake needed.  New tools coming out and coinbase like wallets that could forge for people and pay them interest and leased forging(like pooled mining), as well as increased wallet security coming soon should increase this in the future.

It is estimated that an attack against Bitcoin would cost $1.15 billion. (http://www.coinometrics.com/bitcoin/brix)

Bitcoin also has a market cap of $ 8,133,288,923 meaning that a 15% attack against Bitcoin would be $1,219,993,338.45, so similar costs.

BUT Nxt's is maintainable.. next time Bitcoin halves, miner's will have to drop off the network.  Transaction fees simply can't support the miners.  Afterall, Nxt will have very low transaction fees, it is currently surviving off of 1 Nxt transaction fee, which is to be lowered, while even Gavin is predicting that the current fee should be $0.41.. once the inflation halves, Bitcoin is in trouble.  Nxt on the other hand can currently survive with $0.05 transaction fees, to be lowered as Nxt grows. Meaning Nxt's security and fees will go up, Bitcoin will go down.


Few things preventing it:
- If the network network sees you double forging on different forks, it will ban you for 1440 blocks.  Good luck performing such an attack when you can't write to multiple chains.  This means that you do indeed need to own 51% of the forging power.
-This need to take place with 720 blocks, at which point the network essentially agrees to a decentralized checkpoint.
-Economic Clustering, Nxt intends to make sure that transactions happen with a given 'Economic Cluster' which basically means that when you sell your Nxt you and the person buying your Nxt agree to which fork you are selling your Nxt on.  The more Nxt transferred on a given fork, the stronger that fork is.  If you transfer 15% of all Nxt, you need to pick which chain it is being transferred on, and therefore make that chain valid with that choice.  People buying your Nxt won't be willing to buy that much without pinning it to a specific chain.  Your new chain will not have that many transactions pinned to it.

Also, if you decided to cash out 15% of Bitcoin within about 10 hours.. you would crash the price down to zero.. meaning you do do a lot of damage by cashing out that much there too.  To the point that you might kill it.

Quark actually is a scam.. NXT is actually trying to accomplish big things and change the world.

Quark was insta-mined, which you could consider similar to an IPO, except that the developers were only into it to hype and pump it up then dump it all over the market.


Not true.. taint analysis was done on the Nxt IPO.

Again, people who got in earlier got more coins, and people who threw more money into the fanciest highest powered rigs, get the most coins out of it.

And yes the devs chose who got which coins but let's say when it comes to Nxt, the people who got the most coins were those who threw in the most money.. I haven't heard any of those who got in on the original IPO complaining that they didn't get their fair share.