Still sure I work in marketing?

Yes. First we need a lists of the top 5 DAC's
Then the 100K NXT authorized for valid implementations (open sourced)
My understanding is that nexern's client will have built in support for DNA, which allows DAC's to be quickly implemented. Not sure how much work it will be. Also, as long as the fee structure of the DAC's are not excessive, in addition to bounty, developer of DAC will make income from DAC. I guess we need to define acceptable fee structure for the bounty funded DAC's, but first we need the DAC ideas.

We need ideas for what exact DAC's will make NXT dominate etherium. maybe someone can research what DAC's etherium is promoting? Gotta go offline for a few hours.

James

brief recap

Bounty 100000 NXT for each of top 5 DAC's
Need community suggestions for the set of DACs that will make etherium least relevant

James

Hmmm.. Does this mean BCNext was ahead of the rest of the industry in choosing the Curve25519? Might perhaps this show that BCNext is one of top cryptographers in the world?

James

He is very skilled at automating BTT acct creation. Look at his sockpuppet army. Probably has 25%+ of NEM. He also knows enough tech to sound halfway intelligent, just has problems with the details and gets carried away with preconceived conclusions. If he didn't ignore facts, he could be a very useful tester and even come up with some cool ideas.

We just need to convert him. Maybe when he scams the one million NXT from the hapless NEX crowd, the NXT will automatically convert him?

I was very late in finding NXT (after it was .00005), but after I saw how the NXT community was so different from anything else I have seen, I sold all my altcoins and bought NXT. Then I became active here and starting selling all my BTC for NXT, buying the dips. I got more and more involved and by liquidating other assets I gradually built up to a halfway respectable amount of NXT. I will never get to 50 million NXT, but with hard work and putting most all my money into NXT (taking a risk) I am up to ~1 million NXT. I guess I am a late early adopter

If NXT fails, then I will have lost a lot. If NXT succeeds, then I can retire comfortably, hopefully on just the forged income. ALL NXT accounts are averaging about 0.5% per year on their NXT. This is as fair as anything can get in the real world. I am all in, with occasional forays into DOGE when the NXT/DOGE ratio goes to a short term peak.

Now what makes me confident enough in NXT to put all my money into it? It is this community! By adding value in the way that I can, I can influence the future value of NXT. What other investment allows you to get personally involved and help maximize the value of your investment?

If you bought shares in google, do they let you work for them? No. Can you meaningfully change the value of any other top crypto? Doubtful.

I have had direct dealings with almost all the founders and they are all very generous and intelligent people. They were given an unexpected windfall and responsibility and are doing the best they can. Put yourself in their shoes, you know you have all this NXT and you have to distribute it, but you want to be sure it is spent on the right things.

I think most of the super large whale accts are from early adopter investors who are not the founders. Their mindset come from a purely buy low sell high mentality and I think they are not universally of the NXT founder mindset. I appeal to the 50 million+ NXT holders to invest a small percentage into the NXTfund. 100% of the NXTfund will be spent to increase the value of NXT and it will do you more good than just sitting in your acct. Think of it as a cost of doing business. Of course, wait until you are comfortable with what the NXTfund is doing. PM me if you have any specific things you want achieved with your donation. Directed donations are fine.

rickyjames is the treasurer of the NXTfund. I will not pay any of the NXTfund to myself, nor will I even be able to touch the money.

Now that I have been entrusted with 1.525 million NXT all of a sudden I have the responsibility of deciding the best way to allocate it. It is not easy. I am still not even sure which area it is best spent on. It is super important that the funds are spent as effectively as possible.

I want to show the NXT community that the NXTfund will do its best to maximize the value of NXT and to reflect the collective will of the community. As long as there is consensus, then my job is easy. However, if there is no consensus, then I will be forced to decide the exact allocation and if I make everybody equally unhappy then that probably means I am doing a good job.

As you know, I am a believer in marketing, but I am also somewhat technical. I try to see all sides and approach things as a generalist. At the high level I think allocating the NXTfund one third to tech, one third to marketing and one third for tbd is what makes sense. If anybody feels strongly about a different allocation, please post. The tbd is to deal with stuff I can't predict.

On the marketing side, we have all seen the power of making contacts at trade shows. Getting visibility with crypto industry decision makers. Recruiting new NXT community members. These are things that are pretty important. I am hoping that NXTfund will get directed donations for the marketing efforts so we can fully fund attendance at all the relevant trade shows.

On the tech side, there are many new competitors and NXT already has in progress features that match or exceed almost all of them. klee has rightly identified zerocoin functionality as a strategic feature and put 1 million NXT of his to make it happen. I agree with him and as you know I am actively working on that project. What other significant tech features are needed to make NXT have everything it needs? At this point the only significant missing piece I see is a whole set of DAC's to combat etherium.

I am projecting a few months into the future and assuming Asset Exchange clients are released, Account Control is done, etc. If NXT had half a dozen meaningful and significant DAC's running and working, we will be ahead of etherium in real world functionality and installed base, possibly before they officially launch!

If anybody has any other big tech piece that NXT needs in the next 6 months, please post ASAP. What I need help with now is figuring out what the most important DAC's to have are. I am looking for specific proposals for DAC's that will add the most value to NXT. I am still a bit unsure as to what exactly DAC's can do, but from what I can tell, it can do pretty much anything you can imagine. Even non techies can help with daydreaming about the ideal set of DAC's for NXT. Post ideas please!

I hope that Pin can keep track of all the suggested DAC's and if there are more than 5 of them, we can vote to which ones the community wants. I am thinking of 100,000 NXT bounty for each of the top 5 DAC's that are implemented. The sixth DAC is the NXTcash DAC that will be funded from klee's bounty.

Please, the 1.5 million NXT is this community's NXT to spend to maximize the value of NXT. As trustee, I am obligated to listen to this community's desires and reflect the spending accordingly. If you are against 500,000 NXT for the top 5 DAC's please speak up.

Sorry for the long post, I am the anti-CfB when it comes to post length

James

You actually made a useful post or two, thats progress! Then you went back to your old self...
You clearly have a lot of energy and now a lot of NXT, so why not work to make NXT increase in value? It will only help you add to your NXT that you have been "borrowing" from the poor newbies with weak password and your NEX suckers

Just BUILD on NXT and that would add value. You don't need to be a troll anymore now that you have so much NXT in your pockets.

yuriygeorge converted (where are his nice orderbook charts?) maybe you can too?

darkNXT is what I called the NXT that is in an account without any public password. Kind of like dark matter. Only 64 bit protection so you can easily crack the publicly accessible NXT. I think you said you can crack any such acct in a few hours instead of the years it is supposed to take so clearly you are the master cryptographer we need to bow down to.

James

Not too late, you will just have to buy and hold for 666 days

I think DNA will be very useful to implement NXTcash
DNA working with AE and AM

Wesley is about halfway done with the modules to allow websites to accept NXT. They should definitely work together.

There is a 25000 NXT bounty from neer.g to get NXT integrated with websites.

Are you sure about it having to be an all or nothing? The zerocoin approach seems to get around this. Of course, if there is just one person using it, then it would be pretty easy to figure out who is using it, but if it was an asset in the Asset Exchange, it really would be separate from NXT so not sure why all of NXT needs to be anonymized.

In fact, since zerocoin was designed to be built on top of bitcoin, they clearly did not require all bitcoin users to use zerocoin. Similarily, our plan is to build zerocoin (NXTcash) on top of NXT. If zerocoin on top of bitcoin did not require all of bitcoin to be anonymized, I don't see how zerocoin on top of NXT requires all of NXT to be anonymized.

What am I missing?

James

P.S. zerocoin algos are pretty new, maybe the bitcoin discussions you talk about predate last summer?

Great! I knew you could solve this. Please let us know when you have any details on this, I will feel much better about zerocoin port knowing the exact mechanism for this. Maybe it has to do with special account 0?

If all the peers can validate all the spends, then I guess all the account balances update properly and no client needs to get password for any special acct?

Feel free to post a specific API call you could implement. That will give client devs a framework to code against.

Thanks!

Seems too complicated as we are far from even knowing if we need a robot gateway for this and how will that even be implemented, details, details...

Separately, would it be possible to get an API call that somehow implements:

The client (spender) generates a CoinSpend signature on the transaction that includes the hash of the transaction as well as the Accumulator and PrivateCoin object. The resulting CoinSpend embeds both a coin serial number and a set of zero-knowledge proofs that prove (A) that the spender knows a coin in the transaction set, (B) that the serial number is consistent with the coin, and (C) the spender knows the secret values for the coin. These are all tied to the transaction hash. The client (spender) serializes the CoinSpend object and transmits the completed ZEROCOIN_SPEND transaction to the network.
[from https://github.com/Zerocoin/libzerocoin/wiki/Integrating-with-bitcoin-clients]

The above needs to trigger a NXT payment from some magic acct that previously received NXT. I just can't figure out the logistics of all that.

James

As long as we get several more people to help, we can get a proof of concept NXTcash testnet (Mar?). It won't be usable for end users, but it will show the zerocoin team we are serious. At that point we will either get direct help from them or early releases of their upcoming zerocash as we would be able to help them debug it. Even if we don't we would have shown we can encapsulate C++ and call it from NXT Java code, so as soon as their zerocash is released in May, we can start porting.

At that point, depending on how it tests out, we might even be able to release it, or we might have to refactor it into 100% Java. Not sure on that point.

Still need to solve a few mysteries, too tired now, but maybe somebody else will find an easy solution. Battling with where and how the redeemed NXTcash gets sent. Will it be an asset in Asset Exchange with a decentralized autonomous gateway? Stuff like that. Suggestions welcomed that's for sure as this is pretty cutting edge stuff I don't think many people have much reference to go by, any idea is potentially a good idea.

https://github.com/Zerocoin/libzerocoin/wiki/Integrating-with-bitcoin-clients is the key info on how to integrate zerocoin onto NXT.

The important thing is that NXTcash will be purely optional and if someone does not want to use it, they wont have to. Converting NXT -> NXTcash will be done locally and take about a minute, that is the longest time with the upcoming zerocash release. Also, anybody using NXTcash will need 7gigs on their HDD, so probably will never work so good on smartphones. Current cost will be 2 NXT and maybe a bit more, not sure until we figure out exact redemption control flow.

Feeling a lot more optimistic about this, even without any help from zerocoin team. We just need help from the key NXT peoples!

NXTcash, the next form of cash!!

James

This means 90% of all the regulars are all from China!

I thought it must have been broken!
If it weren't for my blabber, it would have been over 90 minutes between posts.

libzerocoin v0.11 test utility.

Testing if an RSA modulus can be generated...
   [PASS]
Testing if parameter sizes are correct...
   [PASS]
Testing if group/field parameters can be generated...
   [PASS]
Testing if parameter generation is correct...
   [PASS]
Testing if coins can be minted...
   [PASS]
Testing if the accumulator works...
   [PASS]
Testing if the commitment equality PoK works...
   [PASS]
Testing if a minted coin can be spent...
   [PASS]

Average coin size is 133 bytes.
Serial number size is 32 bytes.
Spend proof size is 23567 bytes.

8 out of 8 tests passed.

OK, so I have verified libzerocoin functions in isolation. No major issues getting it running. Now to encapsulate it so Java can call the libzerocoin.

libzerocoin v0.11 tutorial.

Successfully loaded parameters.
Successfully minted a zerocoin.
Deserialized and verified the coin.
Successfully accumulated coins.
Successfully generated a coin spend transaction.
Successfully verified a coin spend transaction.

Coin serial number is:
50670758816621627632275390863152275966382160624109318714908837898946724293259

Installed libzerocoin and generated a test coin

+1
By then we hope to have proof of concept NXTcash.

NXTcash could be in Asset Exchange, so that it will definitely be separate from NXT itself. If you don't want to use NXTcash, there is no reason to do so. Still early days so a lot can change, but there will be some unavoidable fees when using NXTcash, probably 2 transaction fees, possibly more. Not sure.

We might also need a DAC to act as cashier. This could be a really cool proof of concept that shows that all the fancy stuff other coins are talking about could be done on top of NXT.

I hope that after client is released, nexern could help with NXTcash. We need some client changes and might need his DNA. Not sure on the latter.

James

P.S. Any chance of reserving the NXTcash asset name so all of NXT could use a common sense name for it? Not sure if Asset Names are transferable. does anybody know?

The improved zerocash algos create 288 bytes per transaction, so that is 3 transactions in an AM. I think that is small enough that we don't have to worry about bloat. I want to use as much of the existing infrastructure as possible.