What is with this obsession with having control over NXT past 1 year? NXT is supposed to be decentralized. It is not healthy for NXT branding to have a official committee etc. at all. We HAVE to have it now that we're in beta phase, but it's not supposd to be a lasting thing. Hell even CfB leaves the ship soon. It's time NXT becomes self-sustainable.
Aren't you in charge of 2+ million NXT from private founders already? What are those being spent on?
NXT is less than 90 days old. Bitcoin wasn't self-sustainable for years. Spending all the NXT up front is a HUGE gamble that you are going to get it right with no problems, yet we are CURRENTLY FLYING BLIND. We don't even have the final NXT system from BCNext and JLP on the horizon yet, much less in our hands where we actually understand it and how to best manage it, much less setting aside payment for an independent review to give it credibility. In poker terms, you are going all-in on the first hand of the tournament. That's what my obsession with one year is. |
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Just want to be a broken record here and say that IMHO a significant proportion of this 9M should be set aside as a rainy day fund that doesn't get spent for say one year. Otherwise I predict it will be all gone in a year. There is certainly no shortage of people here wanting to spend it, less than 90 days after genesis block creation.
There's currently mostly an agreement on 3 stakeholders as treasurers with no rights to vote. 3 funds divided between 3 of them (each is responsible for only one account): * development = 5 million * marketing = 3 million * infrastructure (can also be shared as misc or reserve) = 1 million Then there will be one or more committees, which will actually decide how to spend these funds. So let's focus for now on taking money from CfB and splitting between these 3 people, so he won't send it to the genesis.Then we can focus on committees. I propose as the only currently established NXT treasurer: 1.The 9M NTX to be split into four funds, with the additional one being a rainy day fund that doesn't get tapped for a period of one year 2. The rainy day fund constitute a minimum of one-quarter of unspent NXT 3. The committee spending the rainy day fund is to be formed in one year from genesis block formation to allow new blood that hasn't even discovered NXT yet a chance to participate 4. That rickyjames be established as treasurer of the rainy day fund |
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First, it's "their", not "there". Very important to get that right in the marketing materials.
Second, ladies and gentlemen, you can see right here and right now how the revolution to take the common heritage of the NXT community from the hands of the many into the hands of the few is complete.
 that's why i'm not a copy writer....I just think up the strategy and they execute what I say. That's how Hitler operated, and it certainly is a straightforward management style. I strongly urge you to get some sort of comment-based review cycle and feedback loop into your thinking. Folks, these committee members haven't actually been selected yet, perhaps you would like to go over there and express your thoughts on who should control this unspent 9M NXT - while you still CAN express your thoughts. https://bitcointalk.org/index.php?topic=445209.0;all |
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@James
You mentioned that a part of your NxtCommunityfund will be paid on marketing....you should initiate this immediately....we run two separate marketing campaigns.
Let both marketing campaigns compete to product more results for Nxt.
IMHO there needs to be one consolidated NXT marketing plan AND it needs to be written out on a Google spreadsheet AND it needs to have cost per thousand impressions (CPM) estimates for each line AND this spreadsheet needs to be out there and commented on in the main thread before any treasurer issues another NXT for marketing expenses. IMHO. However, if James directs this, then I will disburse as authorized. Like he has for this 75K NXT for crazy-expensive $75 CPM audio spots over in another thread: https://bitcointalk.org/index.php?topic=412243.new#newCan I please see some +1s ? +1 its up to the marketing committee it's there responsibility now First, it's "their", not "there". Very important to get that right in the marketing materials. Second, ladies and gentlemen, you can see right here and right now how the revolution to take the common heritage of the NXT community from the hands of the many into the hands of the few is complete. |
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Will there be one account for 3 guys or 3 guys with respectively 1/3 funds in their accounts?
If distribution (ratio) of the unclaimed funds has already been decided, then I think it's easier to let each handle one fund (Easier for accountability and record keeping). If distribution of unclaimed funds has not been decided, and it's going to be another long debate over it, I suggest divide it equally and they will reallocate once the ration has been decided. Marketing has been decided at 3 million Tech/Infrastructure the remaining 6 million. Once we know the cost for the 1000TPS hubs, then we will know the right allocation between tech and infrastructure. Just want to be a broken record here and say that IMHO a significant proportion of this 9M should be set aside as a rainy day fund that doesn't get spent for say one year. Otherwise I predict it will be all gone in a year. There is certainly no shortage of people here wanting to spend it, less than 90 days after genesis block creation. |
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@James
You mentioned that a part of your NxtCommunityfund will be paid on marketing....you should initiate this immediately....we run two separate marketing campaigns.
Let both marketing campaigns compete to product more results for Nxt.
IMHO there needs to be one consolidated NXT marketing plan AND it needs to be written out on a Google spreadsheet AND it needs to have cost per thousand impressions (CPM) estimates for each line AND this spreadsheet needs to be out there and commented on in the main thread before any treasurer issues another NXT for marketing expenses. IMHO. However, if James directs this, then I will disburse as authorized. Like he has for this 75K NXT for crazy-expensive $75 CPM audio spots over in another thread: https://bitcointalk.org/index.php?topic=412243.new#newCan I please see some +1s ? |
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I'm happy to have gotten us all back on track
@CfB - so, details on the 1000 TPS NXT block chain. At 128 bytes per transaction, do you agree NXT is adding 10 GB per day to the blockchain if each transaction is carried along in it forever? Is this practical, or will NXT be doing ongoing blockchain pruning somehow instead? If so, what is the max size of the NXT blockchain in 1000 TPS mode? |
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In fact we have 31 swarmers at this point, the goal and funding only reaches for 30.
So if we're going to add more SWARMers I'll first have to ask the funder of this project.
Let me put forth an idea I had that would be a natural for swarming. There's a hundred other boards on a hundred other cryptocoins out there. What if we came up with a list of those boards and assigned say three boards per swarmer. They all go and establish accounts on those boards...maybe with a universally agreed username and password? Then we start leaving posts at each board to the effect that "Your crypto is cool but your should diversify into just one more...NXT." This would potentially get us a lot of new crypto-savvy members as well as developing some undercover scouts to let us know of interesting developments at a particular crypto that might be exploited by NXT. Can you tell from this idea I am looking forward to the second season return of my current favorite TV show, The Americans? For all you Russian / East Europeans, it's a spy drama that tells the tale of a married KGB team undercover in 1980s Washington DC. It's only 90% as good as Breaking Bad, but that's plenty good enough...especially when it stars Keri Russell, whom I fell in love with back in her Felicity days decades ago. What great hair she had then! http://www.fxnetworks.com/theamericanshttp://en.wikipedia.org/wiki/The_Americans_(2013_TV_series) http://screencrush.com/the-americans-season-2-trailer-full-keri-russell/ |
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Speaking of upcoming conference in Austin, since I live here I can order t-shirts for attendants and meet them before the conference. Do we have a list of people who are going to Austin so I can contact them to have their sizes? I can also print other stuff like business cards, flyers etc.
I want to get both business cards and flyers printed for Austin but I wanted to see what got made for Berlin first. I am really interested in a black NXT T shirt but if I'm speaking I may wear something a little more formal. I have posted my hotel and flight info in previous posts and would love to have a meet up with you and anybody else that comes on Tues night before the conference. My buddy Leon Fu and I will be there also and can definitely meetup. I'm currently working on a sales/marketing presentation that will benefit everyone at the conference and not just nxt since I'm not qualified to speak about the technical aspects of nxt. If I get approved to speak, i will let everyone know. I was able to get my colleague to speak at the San Jose Conference so I don't see it being a challenge to get on stage. Image is everything so we plan on dressing "formal" as well and NOT show up in a t-shirt and hoody. Tai Zen You guys know it's $300+ to get in the door, right? |
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I propose we increase the MARKETING FUND by another 1,500,000 Nxt == Total 4.5 Million:
4,500,000/12 = 375,000 Nxt
It increases the current monthly budget by 125,000 Nxt.
This will increase Nxt value and everyone's investment.
We still stick to the monthly payment plan....paid out on the 18th of each month....next payment is February 18th 2014.
Where is the unified marketing plan and how much does it cost? What is the CPM per line item? You suggest increasing the marketing budget from $17,000 per month to over $25,000 per month at current NXT valuation - WHAT ARE YOU PLANNING TO SPEND THIS ON? WHY DO YOU THINK IT IS A GOOD IDEA? |
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I will serve if tapped to do so.
All I say is think ahead and plan for the future.
This fund will be FAR more valuable, and will be able to do FAR more for NXT, the further in the future it is tapped.
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Those funds should not be in central control of one person.
+1. That's just common sense. Then we've got til April 3 to figure out who these people are and get the account opened with all of them having access and get that account number to CfB for transfer. |
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Frankly, we should be using the 10 mil for as many required expenses as possible. Isn't there some uncertainty of what will happen to those unclaimed funds if a consensus hasn't been met by the community by april, (says CfB?) So why dont we just come to agreement one bit at a time and see whats left when april or whenever comes.
On the 3rd of April I'll send the unclaimed coins to the genesis block. U should come to a consensus by that time, if u need this money. Let me say "NO" very loudly. NO! Burning a very big pile of money is not a good idea. I will cry..... I would like to see the unclaimed coins used for something useful, so my first 3 ideas are: (selfish idea) Distribute the coins into the NXT community. There are lots of guys, like me ,who have given NXT a lot of support over the last couple of months but are not exactly NXT-rich. !0 mill could make a lot of NXTers very happy. Especially me..... (non-selfish idea) Give it to charity. Just think of the publicity....crypto-anarchists give away a million dollars! (good for the future idea) My personal favourite: Get the remainder of the unclaimed coins forging, and use that forging income to help fund a carbon-offset program to make NXT very, very green. Again, much publicity, much love! I'm going to do some more thinking about the carbon-offset idea today, so don't debate it yet. I've posted some very rough numbers last night, and I should be able to have a fairly complete proposal in a couple of days. Could someone give me estimates of the forging income from 10 megaNXT, both now and in a years time? These are all ideas which could be discussed in the community. Where is the voting thread? Maybe there are not enough options to discuss. Let us first discuss, which can be done. Not in detail, just some roughly points. edit: There it is https://bitcointalk.org/index.php?topic=423241.20edit: And https://bitcointalk.org/index.php?topic=418695.0For the record, I'll repeat here what I said over there as just some rough points..... I would like to see the 9M unclaimed NXT joining the 2M NXT that I am already safeguarding in the NXTcommunityfund account. I am already a trustworthy steward of a large amount of NXT, and I would be a trustworthy steward of an even larger amount of NXT. I am a top 50 NXT stakeholder. I bought in big with my own cash in mid-December because I believe in NXT. I want this currency to succeed. And I want to see these 9M NXT funds used to make that happen. I know I don't have all the answers on how to wisely spend 9M NXT. I do know I'll dig for facts and listen to anybody with a good idea and try my best to be fair in making good decisions as part of a team. I think those factors qualify me to be a part, and only a part, of deciding the future of NXT. Plus, I am in no hurry to spend it. NXT is in for the long haul. There will be future emergencies and choices. We need a war chest to deal with bad times and flexibility to seize future opportunities. Once this 9M NXT is gone...it's gone. Think long term.9M unclaimed NXT to NXTcommunityfund. That's my proposal. Where else specifically would you put it? Because it's got to go somewhere specific between now and April 3...or it disappears forever. |
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I would like to see the 9M unclaimed NXT joining the 2M NXT that I am already safeguarding in the NXTcommunityfund account. I am already a trustworthy steward of a large amount of NXT, and I would be a trustworthy steward of an even larger amount of NXT.
I am a top 50 NXT stakeholder. I bought in big with my own cash in mid-December because I believe in NXT. I want this currency to succeed. And I want to see these 9M NXT funds used to make that happen. I know I don't have all the answers on how to wisely spend 9M NXT. I do know I'll dig for facts and listen to anybody with a good idea and try my best to be fair in making good decisions as part of a team. I think those factors qualify me to be a part, and only a part, of deciding the future of NXT.
Plus, I am in no hurry to spend it. NXT is in for the long haul. There will be future emergencies and choices. We need a war chest to deal with bad times and flexibility to seize future opportunities. Once this 9M NXT is gone...it's gone. Think long term.
9M unclaimed NXT to NXTcommunityfund. That's my proposal.
Where else specifically would you put it? Because it's got to go somewhere specific between now and April 3...or it disappears forever.
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To me, the payment for being on a committee is that my NXT becomes more valuable.
A committee is going to be guiding NXT for a long, long time. Long after the unallocated 10M NXT is gone. After it's gone, where is the payment for a committee coming from?
I am voting for no payment of committee members. Volunteering is commitment.
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Any feedback from the Zerocoin people? Personally I think that implementing ZC will bring more attention than many other things (and something that I think most others are simply not going to have the guts to do). The attention might not be all good of course - but I think the Nxt community is perhaps a little braver than others in this regard.  Also perhaps the point should be being made to the ZC guys about how difficult it is to actually launch a new coin (especially in the current market) and whether they really want to do that rather than working with others such as Nxt that are keen to incorporate their baby. I am trying to contact them via phone. So far no luck this weekend. I will try again on Monday after the Super Bowl. |
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"That, and account withdrawal freeze codes."
Absolutely not. This is not a good idea. Who is going to be the "code keeper". It looks like it would be subject to abuse and or an easy backdoor for government intervention.
The way I have discussed implementing this in the past, the code keeper would be the account owner. SOmebody opens a new NXT account, then has the option of putting a freeze code on the blockchain telling all nodes to reject any future withdrawals from the account until that freeze code is nullified by the user sending a second message to the blockchain containing a unique password that only the user knows. That way a whale doesn't have to worry about his account getting cracked by doctorevil, if that happens doctorevil doesn't know the second password to enable NXT to leave the account. |
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If a smartphone (when we switch to binary) can process 1000TPS, a RaspberryPi could also process 1000TPS, am I right? If this is not the case, we should look into the Odroid, if it is far superior to RPi. Actually, Odroid-U3 is superior than most smartphones today. It has quad-core Samsung Exynos and 2Gb of RAM. I think it's more than enough for 1000 TPS. I am a big $35 Raspberry Pi fan but IF the Odroid-U3 comes available in mass quantities, it would be worth choosing it as the standard NXT server unit at only $59 each. The extra capability (particularly 2GB RAM) is well worth the slightly higher price, and it's still only 10 W. Currently, tho, it's single-unit sales only. That's my only problem with it if we need lots of them now. |
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Here's an interesting quote from doctorevil (the guy, who cracked the genesis passphrase): As I've pointed out in my first post https://nextcoin.org/index.php/topic,3608.msg34002.html1.5% of NXT accounts are trivially crackable with a 15 line script and a widely-available passphrase list (the rockyou leak dataset). I've let my script keep running on more lists since then and at current measure have recovered the passphrases of a little more than 3% of all accounts that have ever been used. So, seems like a simple key stretching might not be enough and we might need something like scrypt to make simple dictionary attacks impossible. It's somewhat big and complicated, but on the other hand we can then have a true brain wallet, when some relatively simple password or phrase will be enough to open your account and still be secure. This will also prevent off-line attacks on stolen wallet files. What do you think? Do we need it or is it overkill? What we need are clients with built-in random password generators that display a 50 character random password on the screen and disables the cut and paste to force users to write it down and type it back in later. That, and account withdrawal freeze codes.  I don't often generate an NXT password, but when I do, I use 50+ random characters from Google Awesome Password Generator ( http://code.google.com/p/awesome-password-generator/ ). Stay secure, my friends.http://tvtropes.org/pmwiki/pmwiki.php/Advertising/TheMostInterestingManInTheWorld |
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@ Salscaz:
OBJECTIVE METRICS == Number of Tweets mentioning Nxt...per. day after the marketing effort. etc
you can build on this easily per. week.....per region.....very objective.
EDIT: Did the tweets spike up in southern California region after the LTB radio show? we can track this for the next episode.
In marketing, the baseline metric is CPM. Period. Any marketing proposal that doesn't include CPM as a fact to consider isn't worth looking at. I understand marking is full of appeals to emotion and has a social dynamic that is impossible to quantify. In some situations, those are indeed the overriding factor. However, as long as marketing is paid for by money / NXT, then CPM has got to be included explicitly and up front as a factor to consider. http://adzerk.com/blog/2011/08/what-does-cpm-mean-and-what-can-i-expecthttp://www.allbusiness.com/marketing/advertising-internet-advertising/2646-1.htmlI'm not trying to be critical of you, Salsacz, but the more I read about the audio spot campaign of yours the less likely I would have been to approve it. You paid a very high CPM of $75 for one minute of audio to be on a show where nobody from NXT showed up to sit FOR FREE on an invitational discussion panel that was a highlight of the show, a show that is willing to have us FOR FREE to be the SOLE highlight of the show in a future episode. You have committed to not just the one audio spot but THREE MONTHS / 13 of such spots with them before even getting all of the NXT to pay for it lined up or quantifying the impact your first spot had to see if more were worth it. You do not have a campaign plan outlining what is to be presented in the 13 spots as a whole. Now you are asking for donations to complete the payments for the final month of expensive commitments you have already made. Just what percentage of the total NXT advertising budget IS this $20,000+ audio campaign, anyhow? |
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