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If you want to subsidize and compensate the people who run the servers and service, why don't subsidize with NXT or charge NXT for using your service? Who will pay for it? Will you use the NXT community fund to subsidize the service in the beginning?
I dont have that much NXT myself to be able to afford any significant NXT subsidy. I could charge NXT, but the whole issue has been that small stakeholders cant forge any meaningful amount of NXT, while everyone can mine enough nodecoins for the fees for my servers. I figured it was better to make multigateway services affordable for everyone. I seem to have been fired from managing the NXTcash project and as trustee of NXTcommunityfund, but not sure. Nobody seems to tell me the important stuff. I was planning on continuing to pay for my servers as long as I could afford to. Making it selfsufficient by charging fees would create stability, which seems like a good tradeoff. James You can apply for financial support from the infras committee which is set up for the projects as yours. http://107.170.117.237/index.php |
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What you could do is create a sub-asset on the network that is created by miners as a secondary, inflationary token which the network will then honor in some kind of way (like to pay fees, instead of using NXT) - So the miners mine an alternative token that can be used to pay network fees, which makes it valuable without diluting NXTs value. Could you explain how you see that as not diluting Nxt's value? What exactly is Nxt's value proposition if it's not even used to pay network fees? Also, not sure if you've been attentive to this thread for the past few dozen pages, but you might want to man the barracks. Having the miners mining for nodecoins instead of not being part of NXT in any way at all does not hurt NXT. We will get people who have nodecoins. What will they do with them? Probably sell them for NXT. sell nodecoins and buy NXT Unlike arbitrage trading of OIL/GOLD which has a neutral effect on NXT, whenever you sell something to buy NXT, that creates upward pressure on NXT. At worst, they sell right away and we get back to neutral. However, some miners just might HODL. James P.S. How often am I wrong? How often is emule right? You're assuming they will sell for nxt. Why would they do this? If nodecoins are used for network fees instead of nxt you have given nxt's value proposition to nodecoin. There will be positive pressure for nodecoin as it then becomes the base asset by utility. At that point, what is Nxt's value proposition? Also, I don't think there's any danger of elmo's opinion being seen as anything near credible. No need to juxtapose. I never proposed nodecoins be used to pay for NXT networks fees! Not sure why people get that idea. The only thing I proposed was nodecoins be used to pay for some of my own personal server costs in running the multigateway and pool servers. Since I am issuing the nodecoins and incurring actual real world costs for the servers, I didnt think it would be out of line James If you want to subsidize and compensate the people who run the servers and service, why don't subsidize with NXT or charge NXT for using your service? Who will pay for it? Will you use the NXT community fund to subsidize the service in the beginning? |
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What you could do is create a sub-asset on the network that is created by miners as a secondary, inflationary token which the network will then honor in some kind of way (like to pay fees, instead of using NXT) - So the miners mine an alternative token that can be used to pay network fees, which makes it valuable without diluting NXTs value. Could you explain how you see that as not diluting Nxt's value? What exactly is Nxt's value proposition if it's not even used to pay network fees? Also, not sure if you've been attentive to this thread for the past few dozen pages, but you might want to man the barracks. Having the miners mining for nodecoins instead of not being part of NXT in any way at all does not hurt NXT. We will get people who have nodecoins. What will they do with them? Probably sell them for NXT. sell nodecoins and buy NXT Unlike arbitrage trading of OIL/GOLD which has a neutral effect on NXT, whenever you sell something to buy NXT, that creates upward pressure on NXT. At worst, they sell right away and we get back to neutral. However, some miners just might HODL. James P.S. How often am I wrong? How often is emule right? I wonder what is the sub-asset you can create which is something NXT can not do by itself. |
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Let's just employ Adam B Levine as our spokesperson. He's as good as it gets.  I'd rather have him continue to speak from a person's building a project on top of Nxt perspective and/or from a Nxt investor's perspective. If his project is successful and/or his investment is profitable... you got yourself a lifetime spokesperson!!! I'd have to let you make me your spokesman, and as mentioned in other places I'm not picking sides. I think there is huge potential in all the metalayers and I want to help all of you succeed as much as possible. The future is big and roomy, lots of room for multiple projects and communities to work on these ideas in parallel and since the whole thing is open source it is merely quaint competition rather than antipathy driven. Regardless, you can buy air-time on my program (as NXT did two months ago, and I think Kris has been doing great work with it) if you want to keep NXT in mind for people tuning into LTB or the other shows on our network. But you can't buy me  You can only demonstrate that you'll looking for ideas that solve problems instead of ideas that reinforce an arbitrary leaders ego. I think NXT has a damn good chance of that simply because ya'll don't have leaders. I'd highly recommend as many NXTers as possible read the book "The Spider and the Starfish: The Unstoppable Power of Leaderless Organizations" - You guys have an "apache" or "na'taan" model of leadership, you just don't know it so it doesn't work too well. NXT is like the beast with a thousand arms and no head. Difficult to organize, but with many resources at its disposal. https://www.youtube.com/watch?v=9dzK-0wB-CAYou are absolutely right. Can you come to our own new forum http://107.170.117.237 to visit or set up your own thread? I think members will have more serious conversation over there. Thanks. |
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Hi, I am Touque. I have been learning about the 2nd generation crypto lately on this site. I am interested in Nem and would like to purchase the IPO. Thank you.
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He's not leaving He míght just be getting the price down so more people can buy. Also: when someone sells, someone buys. It's not as if the Nxt is running away  No, we need USD coz hired coders ask for fiat. What will they work on? Why is klee paying for it? Or is this a community fund? So far, most of the projects have been paid by whales like Klee, Pouncer, Msin, Neer.g, Bitcoincanada, cfb, and some other guys whose name I can't remember. They have been working behind the scene. |
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As many said before,some funding commitee should hire 4/6 devs to work full time on Nxt. Time is precious.
Go and find them,instead of waiting for them to come from vague announcements.Just take proffessionals if necessary paying its price.
@ wesleyh: i also hated having to click,instead of pushing enter,which i always did by default and nothing happened.But i like your idea of making it more secure.+1 at keeping it like that, and having the settings option to change it , with a warning.
+1. I recommend ricot, broodyrookie, and gimre. You can find more about who are good java programmers and interested in Nxt from here https://bitcointalk.org/index.php?topic=397183.0 |
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And while I am a lawyer, I am not YOUR lawyer, and none of the above is legal advice.
What is your opinion on Ethereum IPO? Can they offer it to US citizens? |
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Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.
I proposed an option for "mining" Nxt. Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt. I first posted this over at the Nextcoin.org forum ( see here). Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic. The really cool thing about this approach is that people will most-likely not mine Nxt to dump it. They will mine Nxt and the process will pump it, rather than suppress value! Practically any way you look at this approach is a benefit! Interesting idea. FYI - here is his idea on nextcoin.org: ----------------- The idea is simple. We could setup a SHA-256 & Scrypt mining pool. The pool can use the coinwarz API to determine which coin is currently most profitable and it could mine the most profitable coin at the moment. HOWEVER, instead of distributing these coins directly to the miners, the pool forwards all mining rewards to an exchange, dumps the coins, buys up Nxt with the profits and then re-distributes the Nxt to the miners. So, although direct Nxt "mining" may not be possible, a mining pool for this purpose could help the entire community by providing an easy way for people to obtain some Nxt (even if the amounts are small) PLUS this should have a net-positive affect on the price of Nxt because the pool will be dumping other altcoins, and buying up Nxt. So, does anyone know someone who could make this possibly happen? Seriously, I think this could be a great idea. I'd do it myself, but I don't have the time plus I've never managed a pool. If we have any former (or current) pool managers, this could be awesome! ----------------------- |
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If you run a NXT node, you are supposed to receive NXTcoins and it is called forging.
You don't understand it. Running a node is not the same as forging. This mistake is maybe the cause of all the miscommunication here? Forging: People unlock their account on a simple computer and are chosen to generate a block. You will receive the fees of that block in your account. Forging is free, just turn your computer on. AND UNLOCK ACCOUNTRunning node: Nodes are servers which will help stabilize and secure the network. You don't earn fees of blocks. Running a node is running a dedicated server and can cost money. No matter you run a node or server you still need to run NRS, right? If you just want to compensate people for maintaining/running a server you can do it with Nxt or BTC, right? Why nodescoins? Nodecoins have no original value. You create a nodecoin for free and you set up a price for it (0.01nxt=1nodecoin). It devalues Nxt. Will you pay for it from your own pocket? Some people kept to say that nodecoins are just asset. Go ahead to create a such asset in the AE yourself. No one stop you to do so. If I create a asset on AE like that, will people buy from me? No. first, one one trust me. second it has no value. |
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- lick us at facebooks and twitters and retweet us
LOL U, guys, can't stop creating memes as I see. YUB, HODL and LICK! Edit: Oh, I forgot about FOGRE... It is right. I lick Nxt! We all lick Nxt! |
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James
I appreciate what you are doing, and I'm sure most everyone else here does as well. I'll send you some nxt when I get to a trusted computer - what's your preferred address?
Your ideas and work are going to receive criticism, because everyone here is financially and emotionally invested in nxt. I just wish that people here would not resort to claiming that nxt is doomed if their ideas don't win out. A community of people that is constantly at each others throats will ultimately damage the nxt experiment.
it already has damaged this is the third day I have lost due to negativity in the last few weeks worse is, each time I find it harder and harder to get back in a groove Would you peoples be treating CfB or jean-luc this way? I know I am nothing compare to them, but dont I deserve at least a little respect? Hi James, I don't think anyone here do not admire and praise your contribution to NXT community. You are invaluable. You almost single handles pushed the unclaimed funds to be available for use, especially for the marketing. You successfully pushed the AT to be under development, and help to bring the Gateways, Nxtcash, nxtmixer under the radar. There are also many other things and ideas benefited from your contribution. You are a genius promoter and can move a train. But you have your own weakness as everybody else does. I hope you will feel better after taking some break. |
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Nodecoin will not allow you to circumvent Nxt fees, it's not built into core. It's just an asset that you get for running a node, very simple. People will have to run Nxt client to get Nodecoin, so I have no idea why this would be perceived as bad for Nxt. Nodecoin should be redeemable for accessing services (DAC, NxtCash, whatever), not for Nxt itself. I don't see anyone trading Nxt for Nodecoin. It gives us a good testcase for AE coins. Thank you James. Now let's help James with DAC, NxtCash, the good stuff!
If you run a NXT node, you are supposed to receive NXTcoins and it is called forging. That is what NXTcoins are designed to do. If you think people running nodes don't get enough Nxtcoins, you need to fix it by increasing the transactions or compensate with NXT or btc. You don't compensate them with nodecoins because nodecoins are created from nowhere and almost no cost. Then you pay 0.01 Nxtcoin for 1 nodecoins. You devalue the Nxtcoins right here. All transactions (dac, nxtcash, Escrow service and so on) on NXT platform should be charged with NXT and NXT alone. Imaging in the future, if there are 30% nodes are compensated by nodecoins, will you still be able to control the price and only pay 0.01 NXT for 1 nodecoins? No, it will be 1 nodecoin=0.3 Nxtcoin. It will devalue NXTcoins right there. It is great to create coins on top of NXT. It is also BCNext's vision. But you need to do it with a business purpose, not doing what Nxtcoins are supposed to do. BCNext has mentioned that he tried to reduce mining for mining (selfish mining). We should not double reward this kind forging/mining for mining thing, especially at NXT owners cost. This is definitely not consistent to BCNext's vision. |
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James
P.S. If somebody wants to pay me to kill nodecoin all you have to do is pay the server costs.
If all you want is to reward people to run a node or server you can reward them Nxt which was created and set up to do so. OK, I will use all the NXT I have and then give it all away to people for running their NXT node. Yes, thats a very good idea. I will send myself 100 million NXT and use that to fund this. Would that work? James Edit: I need evil-knievel's help to get the 100 million NXT out of thin air first, so dont hold your breath for this I understand. But you control some funds, right? We also have tech/infras committees to apply for funds, right? |
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James
P.S. If somebody wants to pay me to kill nodecoin all you have to do is pay the server costs.
If all you want is to reward people to run a node or server you can reward them Nxt which was created and set up to do so. |
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But then you're basically inflating the currency and usurping value from Nxt as it should be the unit used for these purposes, no? These are roles that Nxt would take; doing so with nodecoin reduces Nxt's functions and in turn it's demand/value as opposed to nodecoin adding value on top of the system.
+1. Totally agree and I can tell why it is true. The value of nodecoins solely come from the running the Nxt nodes (protecting the network) which actually has been run with Nxtcoins, for instance, running nodes have a change to win Nxtcoins as the rewards. Now on top of that the Nxtcoin rewards, nodecoins become the second rewards for that. It is a pure redundant thing to do so. If you want reward more for running Nxt nodes you can simple reward them more Nxtcoins as the transaction fees (in the future, with more business built on Nxt and more transactions running on the Nxt, the nodes/forgings will get much more reward fees event with the reduction of the transaction fee). Nxtcoins' value is from their protecting the Nxt network. The nodecoins' value is also from their protecting the Nxt network. To let nodecoins do so, you actually put nodecoins and Nxtcoins in the same position. The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have. Nodecoins will easily dilute Nxtcoins. We already have Nxtcoins to be used to protect the network and transactions and they are scarce. we don't need another coin to do the same work. We can create some other coins for creative business built on top of Nxt. " The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have" . However, it is the Nxtcoins owners that set the price of nodecoin, not the inverse (because of NXT fee only). So I don't understand how nodecoin can dilute the value of NXT. Precise your thought please. EDIT: IF the nodecoins' value is also ONLY come from their protecting the Nxt network. My believe is that eventually, nodecoin value will simply go to zero when a lot of Nxt node will be in place. If your prediction becomes true then Nxtcoins value will "simply go to zero" as well. I don't think so, protecting nxt feature is valuable for the people running software on top of nxt. I don't think so either. that is why nodecoins will be competing with Nxtcoins and dilute Nxcoins. This is like you hire A to do a job with a pay. Later you hire B to do the same job together with A but you don't pay B. In the beginning it may be cool with B because he needs some experience. But after a while he demands a pay for his work. You only have a certain amount of money. If you pay B, you have to pay A less. the thing in red bold: i think it is a false hypothesis. nodecoin and NXT have different purpose, but they have in common to protect the network. Unfortunately they are. You just said so. |
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But then you're basically inflating the currency and usurping value from Nxt as it should be the unit used for these purposes, no? These are roles that Nxt would take; doing so with nodecoin reduces Nxt's functions and in turn it's demand/value as opposed to nodecoin adding value on top of the system.
+1. Totally agree and I can tell why it is true. The value of nodecoins solely come from the running the Nxt nodes (protecting the network) which actually has been run with Nxtcoins, for instance, running nodes have a change to win Nxtcoins as the rewards. Now on top of that the Nxtcoin rewards, nodecoins become the second rewards for that. It is a pure redundant thing to do so. If you want reward more for running Nxt nodes you can simple reward them more Nxtcoins as the transaction fees (in the future, with more business built on Nxt and more transactions running on the Nxt, the nodes/forgings will get much more reward fees event with the reduction of the transaction fee). Nxtcoins' value is from their protecting the Nxt network. The nodecoins' value is also from their protecting the Nxt network. To let nodecoins do so, you actually put nodecoins and Nxtcoins in the same position. The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have. Nodecoins will easily dilute Nxtcoins. We already have Nxtcoins to be used to protect the network and transactions and they are scarce. we don't need another coin to do the same work. We can create some other coins for creative business built on top of Nxt. " The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have" . However, it is the Nxtcoins owners that set the price of nodecoin, not the inverse (because of NXT fee only). So I don't understand how nodecoin can dilute the value of NXT. Precise your thought please. EDIT: IF the nodecoins' value is also ONLY come from their protecting the Nxt network. My believe is that eventually, nodecoin value will simply go to zero when a lot of Nxt node will be in place. If your prediction becomes true then Nxtcoins value will "simply go to zero" as well. I don't think so, protecting nxt feature is valuable for the people running software on top of nxt. I don't think so either. that is why nodecoins will be competing with Nxtcoins and dilute Nxcoins. This is like you hire A to do a job with a pay. Later you hire B to do the same job together with A but you don't pay B. In the beginning it may be cool with B because he needs some experience. But after a while he demands a pay for his work. You only have a certain amount of money. If you pay B, you have to pay A less. |
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But then you're basically inflating the currency and usurping value from Nxt as it should be the unit used for these purposes, no? These are roles that Nxt would take; doing so with nodecoin reduces Nxt's functions and in turn it's demand/value as opposed to nodecoin adding value on top of the system.
+1. Totally agree and I can tell why it is true. The value of nodecoins solely come from the running the Nxt nodes (protecting the network) which actually has been run with Nxtcoins, for instance, running nodes have a change to win Nxtcoins as the rewards. Now on top of that the Nxtcoin rewards, nodecoins become the second rewards for that. It is a pure redundant thing to do so. If you want reward more for running Nxt nodes you can simple reward them more Nxtcoins as the transaction fees (in the future, with more business built on Nxt and more transactions running on the Nxt, the nodes/forgings will get much more reward fees event with the reduction of the transaction fee). Nxtcoins' value is from their protecting the Nxt network. The nodecoins' value is also from their protecting the Nxt network. To let nodecoins do so, you actually put nodecoins and Nxtcoins in the same position. The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have. Nodecoins will easily dilute Nxtcoins. We already have Nxtcoins to be used to protect the network and transactions and they are scarce. we don't need another coin to do the same work. We can create some other coins for creative business built on top of Nxt. " The owners of the nodecoins will demand the same treatment/status which the Nxtcoins owners have" . However, it is the Nxtcoins owners that set the price of nodecoin, not the inverse (because of NXT fee only). So I don't understand how nodecoin can dilute the value of NXT. Precise your thought please. EDIT: IF the nodecoins' value is also ONLY come from their protecting the Nxt network. My believe is that eventually, nodecoin value will simply go to zero when a lot of Nxt node will be in place. If your prediction becomes true then Nxtcoins value will "simply go to zero" as well. |
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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. I more like Salsacz description - Nxt will the p2p decentralized internet network. There could be hundreds and thoughts of networks like Nxt tunning in the world. |
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