yes, peercover is not doing the transaction processing. Much more reliable to use ripple's distributed ledger for trading. I do not expect there to be such huge losses that dgex experience on ripple.

All you need to do is go to https://ripple.com/client/#/register make a new wallet and use the wallet address on peercover's simpleGateway. There is no market yet for NXT/BTC, but I can start that as soon as I get some inventory. Or it will start itself as soon as dgex offers 3 day fee amnesty

James

P.S. I might be only parttime on NXT now, but my ripple activities overlap and it is VITAL that the NXT community have a frictionless trading platform that can be trusted. Peercover has created that on top of the ripple infrastructure.

How much does forging from 75 million NXT bring in per week?
dgex must offer fee amnesty for at least 3 days to allow people to withdraw. People were not properly notified about the fee increase.

Did anybody receive an email prior to the fee increase?
Was there an announcement about the fee increase?

Any business can do whatever it wants to do, and customers can also do what they want. If dgex wants to stay, then it should offer 3 day withdrawal amnesty at the least. Post your forging revenues against the 800,000 NXT you claim to have lost. How was all this lost? Why didn't anybody hear about this? The community could have helped.

James

P.S. bid price on ripple is over 15% more than on dgex as of now, actually closer to 20%

hate ripple all you want, just don't hate the people that use ripple. Peercover is not ripple, it is far more robust to use ripples distributed servers for a real money exchange than any single companies server(s)

James

P.S. no offense to the nxtchg owner, but a "if anything happens I won't be responsible" terms of use isn't quite what the NXT community can depend on for trading.

Peercover is not out to gouge the NXT community. I have worked with them closely in the ripple world and they are good people.

Peercover uses https

Peercover's business model, which I worked hard to convince them to adopt, is to pay for expenses from forging revenues and not charge the customers anything. Ripple itself does not charge you. The only cost is the spread between bid and ask.

They incurred heavy costs during holidays to create a robust decentralized exchange without fees. Very easy to send NXT to wrong acct number, especially during development. Maybe we can send some business there, if not to help them out, just so we can trade without getting nibbled to death with all the fees AFTER we sacrifice our forging revenues.

bybitcoin, can I sell some NXT for you on ripple? You won't have to do anything, I will do all the work (this is my day job). This will let people deposit BTC or LTC for free and purchase NXT. I can make a market in NXT/BTC within 15 minutes from when I get the inventory.

After it is sold, I will send you the BTC directly using peercovers automated withdrawal.

Please, 75 million NXT is trapped inside dgex, there is no inventory available on ripple

James

nxtchg owner posted about a bug that cost him a lot. Did not seem he wanted to continue, certainly not large volume tradings.

There was a bunch of NXT inventory available around 3 XRP, but it got snapped up. We need more inventory of NXT on ripple using simpleGateway.

Please try peercover NXT gateway, it pays for costs from forging revenues of the NXT you deposit. No other fees. If there will ever be fees, there will be plenty of notice.

I guess most people have their NXT trapped within dgex. Is there anybody that has NXT outside of dgex who is willing to deposit into ripple? If not, is there anybody willing to sell to me and I can make some NXT available at market price.

ripple is relatively small now. NXT can become the largest issue on ripple if we just moved our trading there. Being the largest issue will help promote NXT. Better to be the big fish in a small pond first.

James

P.S. Can anybody talk some sense into dgex owner and allow people to withdraw without crazy big fee. Isn't forging from 50million NXT enough???

ripple bid for NXT is 3 XRP = ~0.000103
NXT is trading on ripple in form of NXT/XRP
If there is interest NXT/USD and/or NXT/BTC will start trading there.
no commissions, no deposit or withdrawal fees, already trading

ripple is not usually considered a major exchange, but its total volume of trades is over $1 million per day.

James

It is customary to have 30 day notice before changing fee structure dramatically. With NXT accelerated timeframe, even 3 day notice would have been expected. Maybe 3hr notice?

James

I think NXT forging fees allow for an exchange to earn enough money to pay for expenses, as long as large frauds are avoided. Therein lies the business problem.

I have advocated a no-commission no fee automated deposit/withdrawal exchange to peercover's owner and got agreement to see if it will attract enough deposits to make it worthwhile. So far, there is less than one million NXT trading, so we need to at least try it out to see if it is a reasonable alternative.

I spent a lot of time to make a totally frictionless trading environment for NXT, that also happens to be distributed across dozens (hundreds) of rippled servers.

Ripple is not so bad and once you get used to it, it is actually pretty cool. Why not put a small amount into peercover. There are actually some nice arbitrages possible. The other day I saw a $1000 arbitrage go down as ripple prices are not as fast moving

It is important for people to be able to trade NXT without getting hit with lots of fees. High frequency trading leads to lower spreads, which means you get more when you sell and pay less when you buy.

Maybe people are not comfortable trading NXT/XRP. If there was active NXT/BTC or NXT/USD market, will anybody use it?

James

I just heard from klee!
There is hope yet. Just need a few more founders and I will be able to continue.

James

P.S. peercover no fees for deposit, withdrawal (automatic) or trade. Model is to cover costs from forging

Just saw dgex was down

I think that makes https://peercover.com/#/simpleGateway the only place to trade NXT. Based on my urging the guys at peercover worked through the holidays to make a NXT trade page. It is built on ripple and so no centralized server.

So far there is very little volume on ripple. I had asked the founders to create some inventory, but nobody did. I don't have enough NXT to make a deep market, but since it is the only place to trade NXT now, maybe more people will use it?

James

P.S. I will still post when I can

My problem is that my "vacation" is ending and I have to go back to work. As it is I have neglected a few things and they have created a bit of a mess.

I have identified easy to implement solutions to many problems, but none of them are even acknowledged. Maybe people think I am some marketing dweeb, but I have written a C compiler from scratch, realtime forex trading systems, firmware for devices, etc. I am primarily a programmer, but I can also relate to the non-technical user.

Since NXT has tons of programmers, many probably even better than me, there wasn't much point in my contributing that way, so I found the BIG GIANT GAPING HOLE in NXT that I could fix.

aldrin has been the only founder who sees value in what I do and was willing to back it up.

I was ready to sacrifice my life savings and all other business opportunities to concentrate on NXT. I don't lightly do that since my services are in pretty good demand. I just can't afford to continue investing the time that I have without getting some sort of upside. I have of course purchased the NXT I can afford, but even if I don't do anything I would have that NXT. I am talking about 100% of my time.

 It seems that isn't worth setting aside the NXT for me to purchase at a later date. That is what I asked for. Not an outright grant of NXT. Founders need to sell NXT, I wanted to purchase at around double current market price. I just needed time to come up with the funds. Basically structured as incentive stock options, which are standard fare for compensation packages for someone doing the work that I was doing.

I did my two week audition, I guess I failed.

James

Unfortunately due to the lack of support from the founders, with the exception of aldrin, I am forced to say goodbye.

I have worked through my vacation to come up with a strategic plan for NXT to get to 0.01 BTC and beyond. When the security issue came up, I debated with CfB who was stuck on "its impossible to add second layer of security because NXT is not centralized" to "API v2 will support second layer of security" Doesn't anybody see the significance of this?

I have pointed out the flaws in the addressing, came up with a solution, but not even acknowledgement from jean-luc and a few days later the same problem comes up again.

I have to make a living and I was willing to use up all my savings for living expenses while I worked fulltime on NXT. All I asked for was some incentive options, got only two responses. The more promising one was a "I will wait and see".

This lack of support does not give me the confidence to use up all my savings and I do have to make a living. I was one week late in discovering NXT, due to this I couldn't get enough to be set for life even if it does go up tenfold. Not sure if I will even be able to keep up with this thread, but I will try.

Goodbye NXT, I wish you luck in dealing with the competitors, bugs, usability issues, etc. without a strategic plan or anybody who is working on implementing the plan.

James

What about displaying information about the destination acct and getting confirmation from the user if he wants to send to an acct with the basic info profile, eg. acct size, days old, number of aliases, aliases, etc

This way, we easily avoid sending to an invalid address as that would show up as an empty acct. We could still do it if we wanted to so we can fund new accts.

Won't always know for sure that it is the right acct, but if we knew that the destination acct had a specific alias then we actually would know in that case. Certainly when we are transfering between our own accounts, we would recognize things like NXT in acct.

James

To trolls,

If everything were perfect, easy to use, etc. NXT price would be at 0.01 BTC

The current price is somewhat less than that. If you wait for everything to be finished, well, so will the bulk of the price appreciation.

James

I guess this is the sort of thing voting to freeze accts would be used for? If the dgex accts can be frozen until this is all resolved, at least we know where the NXT is.

Maybe dgex owner will voluntarily freeze these accts for now?

James

Jean-luc

Now that we know api v2 will support client side signing, this is fantastic news!

I want to start getting large scale (millions of nxt) value investors for nxt

I want to be able to truthfully say that nxt is the most secure crypto, bar none, even for non-technical users. I realize that a lot of this will have to be put into nexern's client, but i figure the more built in support he has to build on, the quicker we can all get this added security.

As we have all learned max entropy private keys are a must, both for nxt account password and transaction signing password.

If there is a way to support fragmented accounts without requiring cumbersome juggling of long passwords that would be fantastic. I realize that if a computer is compromised, so are all the passwords, but the truly paranoid can make paper copies of the private keys. People who can rely on their machine to be un compromised can keep all the passwords for the fragmented accts in yet another encrypted file (google authenticator?). I guess that would be a wallet.dat

So complicated, so difficult, but for nxt to become a significant chunk of the global economy, so necessary.

I apologize for being such a pain, but people with millions of dollars to invest will want the best. I imagine that the founders will appreciate all this added security also. I hope everybody understands how important security is, perceived and actual. With the new level of security we will have a path to nxt > .01 btc

James

Just landed in paraguay.

Api v2!

Ok so in api v1 it is impossible to add second layer of security, but in api v2 it is possible to add second layer.

Was this the original plan? I guess it doesn't matter, the important thing is we now have a roadmap to 256bit ^ 2 security. Clearly with api v1 biggest threat is from weak user passwords, tainted downloads, key loggers and user errors.

The thing that really bothered me about v1 security was that there was nothing i could do to prevent the offline cracking of password, remote as the chance is, i want to be able to reduce almost zero chance to almost zero chance twice, especially if i will have most of my net worth in the nxt acct!

The fact that there is no parallel attack for the second password means that fragmented wallet will eliminate temptation of hacker who stumbles onto nxt password.

With v2 i will be able to bring in super large investors. Thank you for supporting my "unreasonable" request

James

Will you reimburse the first person whose acct key is cracked with the offline parallel test against all nxt accts?
If so you can provide hackers insurance for all for free

How can client side enforce one time setting of sendmoney public key?

So the objection to my solution is that it is difficult
Good, at least we are off the impossible mantra

Founders give me million nxt and i will implement this myself

James