Correction, that was the test address. The live gateway is on https

https://peercover.com/#/simpleGateway

Its everything people have been asking for. More secure using https, more robust using distributed ledger. Has account confirmation prior to withdrawing to NXT account. Automated deposits and withdrawals.

All we need is someone who is already on ripple to deposit NXT and put in some good sell offers, or I can do all the work within price guidelines, just PM me to work out the details, but basically you would just send NXT to peercover and I will send BTC back to you after the inventory is sold.

I am planning on bringing some large investors through ripple, so the sooner we get the connection between NXT and ripple flowing, the better.

James

Peercover has been working hard and has already implemented the account balance check prior to withdrawing to a NXT account.

http://dev.peercover.com/#/simpleGateway

Is ready to start getting more traffic. The trading is via distributed ledger so no single point of failure. Making deposits and withdrawals are automated. Conversion to other currencies is built in.

If you don´t have a ripple account, it´s easy to open one at https://ripple.com/client/#/register

All we need is some NXT inventory and a market will form as there is also interest in the ripple community about NXT. If any founder is willing to help jump start a market, please PM me. You can set the min price you want to get for a block of NXT and I will do all the ripple things and get it sold for you, I just need some NXT to make a market, probably 100,000 NXT will be plenty.

James

damelon

that is just the database for the website. To my knowledge it would take some truly advanced tech to update the blockchain on all the nodes!

I was on block 28000+, so the mystery remains about the missing sends...

Is there a ddos happening now?
What do you mean by "work on the chain"?

I am having troubles sending NXT. I triple checked the acct number.
Sending dialog takes several seconds, then says money was sentç
After a while I see what I am pretty sure is my transaction in the unconfirmed transactions box
as soon as the next block is generated, it disappears

However, my acct is not being debited and the receiving account is not getting the money

I restarted java and localhost.

with blockchain site being upgraded, not sure how to track this down.
How can it say it was sent, appear in unconfirmed, then disappear from unconfirmed but not do anything?

GCI,

unfortunately I had two mishaps, one was averted by network problems, the much larger one sad to say is gone

I have an URGENT feature request.
Currently ALL addresses are valid and sending money to an acct create it. This is all cool and stuff, but one typo and money is gone forever.

Without changing too much of the code, I think if we just brought up a warning that "you are about to send money to an account with zero balance. Are you sure?" or even better would be to display some basic statistics about the account that is being sent to, time acct has been open, number of transactions, etc.

This way before irrevocably sending money to the void, we can at least do a sanity check on the type of account that will be getting the funds.

I do not advise going to a large scale deployment without such a safeguard. I just lost a lot of precious NXT due to late night sleepytime typo

James

My idea for NXTcompany is that we start recruiting people to concentrate on maximizing the value created from each new NXT feature that generates transaction fees.

We can leave it to the existing companies to handle their own IPO

I guess one problem is how they will pay dividends. Since all of the transaction fees they generate is being distributed to the winning block. Each NXTcompany will have to charge a premium on top of the transaction fee for this to work. I do not know enough about how things will be setup to know how hard that will be.

Unless there is a way to change how forging is allocated to include some portion to the associated NXTcompany (highly unlikely unless CfB says otherwise), this probably won't work

James

I know that peercover's gateway is automated in both directions.

They are also finalizing a trading page that will allow trading. I have not seen it yet, but it sounds like you won't need to open special accts and it will automatically handle the exchange using mostly client side code.

Not sure how Jared is implementing it, all I know is his stuff is solid and very cool

James

brooklynbtc,

I am not 100% sure about this as I am making some inferences and deductions to arrive at the following:

NXT will implement colored coins. From whatI have seen of the protocol, it is totally flexible and allows anybody to issue anything.

You could issue a colored coin and make each one worth a rolls royce. I think it is one NXT per colored coin, but maybe there is a non-1:1 mapping possible.

Anyway, since each of these are worth a rolls royce, at some point somebody can come to you and say, I want to redeem my rolls royce. Here is the coin, where is my car. At this point, you either hand him the keys to the rolls royce or default. Therein lies the problem. Unless you have credibility as to access to fancy cars, your issuing rolls royce coins will probably not find a big market. Even if you did, people will still be a bit skeptical.

The only thing at stake for an issuer of a colored coin is their reputation. This could be something super valuable, or it could be very low value. So, it is caveat emptor free market. Ripple gateways struggle for a long time before people start trusting them enough to use them.

This is why I believe working with ripple makes a lot of sense as the gateways to USD, BTC, CNY are well established. What that means is that converting NXT into and out of those currencies is already implemented just by using a ripple NXT gateway.

James

P.S. Over time, trusted issuers will emerge within NXT and it is also possible ripple gateways will open up their NXT counterparts.

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

My understanding is that separate features don't really depend on each other or interact with each other. Kind of like email and http coexisting. Just because email might have some bugs, it doesn't make sense to stop work in http, unless they are both being worked on by a single person.

James

Will all the proposed features eventually get implemented?

Is there any rough idea of the time needed to complete each feature?

Are there any estimates as to the amount of transaction fees each feature is expected to generate?

James

A red/green light on nexerns page for acct would be really nice. That way you can see if you are still forging from any browser, for instance from Uruguay

James

CfB,

A while back you asked which of a list of features the dev team should implement next. I need more info before I can make a recommendation.

In essence it would be ranked by the (expected transactions fees) / (time left to complete)

From an investors standpoint, it is all about the transaction fees. Assuming all the projects are independent and there are no dependencies, the most bang for the dev time will front load NXT valuation increase. If we want to slow down the increase of fair market value and all of these features will eventually get implemented, then we do the opposite. Deadlines and software dev being what it is, I think it best to optimize for more fair market value sooner, rather than later. Usually we discover even better things to do when we see something actually deployed.

So, I had a flash of insight on how we can integrate utopianfutures IPO plan with the upcoming features. This also partially solves the question of what type of companies we will have doing IPOs.

I suggest that we encapsulate each new NXT feature that generates its own transaction fees into a NXTcompany. I am assuming we can accurately track each NXTcompany's transaction fees and that is the equivalent of the traditional revenue statement. A NXTcompany will usually have no, or minimal costs, at least I think that is the case as once the software is developed, we might need a few custom servers, but mostly just manpower to nurture each NXTcompany. The profit calculation will simply be the difference between total transaction fees minus whatever costs, if any. If any additional costs are needed, it could be funded from sales of IPO shares, individual contributions, etc.

Who gets to be in each NXTcompany? My answer is anybody! Of course, each person needs to be a valuable team member and the way to allocate "ownership" is by voting of all the peers. Each person votes for all the other people, say a scale of 0 to 10, or maybe a simpler full share, half share, no share, each NXTcompany should decide how each person's contribution will be ranked. Tally up the totals and you have the prorata ownership of the NXTcompany. Integrate over time to calculate the lifetime ownership percentage. A company in need of funds for costs could recruit investors who would get an agreed upon percentage. Anyway, you get the idea. We can have a generic NXTcompany template, but it would just be a set of guidelines to start from. Each NXTcompany can and probably should mutate as best fits their goals.

Something like that. Each NXTcompany should get its own wiki page that is updated with important things like what the feature is, why someone will want to use it, what it costs and an estimated (or actual) usage percentage and transaction fee estimate.

This will allow everyone to see which NXTcompany they would want to put their time into. Basically we will start a new IPO for each new feature and IPO shares are up for grabs for all the NXT stakeholders. Just pick the few projects you really believe in and can contribute meaningfully.

I don't think it would be so healthy to have a competition, but maybe some sort of founder sponsored bounty that is issued to each NXTcompany that achieves key milestones would be a nice reward for the hard work.

NXT the investment will be valued at the sum total of the value of all the NXTcompanies. The more companies we have, the more NXT will be worth. Everybody wins, except the ones who don't participate.

Everybody has a chance to get in on the ground floor of a NXTconomy startup!!

utopianfuture, we need an "investment bank" equivalent to track the different NXTcompanies and have a standardized presentation of "financials". Since this is your baby, maybe you can take this on? I am sure you will get voted some shares in all the companies by helping smooth the process.

The fantastic thing about the NXTconomy is that everybody can make a significant contribution, regardless of your specific skill set. I think that it is the NXT community that is so vibrant and active that is the "secret sauce" that none of the other NXTclones will ever have. After all, why would anybody want to work on a clone when they can easily join the original?

I can envision making a presentation to potential investors with pages upon pages of NXTcompanies, each generating transaction fees and when the light bulb goes off they will want a piece of the NXTeconomy. Every NXT represents a share of the NXTconomy, not just a single NXTcompany, but all NXTcompanies present and future.

 BCNext designed a frictionless economy so the velocity of money can be extremely fast. Every NXT that is spent automatically recirculates, within a minute or so. Simply incredible.

James

P.S. Even the alias system could use a NXTcompany. I could see a domain listing site as a first step, with many other possibilities.

user1922,

We are having a discussion here, I apologize for any feeling of being brushed off as a freeloader. The forum has been "ddosed" by a guy named yuriygeorge and I think people are responding to you as if you are his clone.

Anyway, extensibility!

OK, so we know BTC can do payments, like paypal, just slower but without worry about transactions being reversed. Some like this others don't. Regardless if you want to change anything about bitcoin, well it is easier to just make it a new coin and that is exactly what has happened, litecoin, namecoin, 100+ others.

None of these coins can coexist with each other at the protocol level. Meaning they need different server daemons, different wallets, etc. Let's ignore the wasteful mining aspect, that is not what you asked. So I hope that explains how BTC is not extensible. Changing BTC creates a new altcoin. Now the more technical of you will probably point out that it is possible to update bitcoind globally and get new features added to bitcoin. To them I say, show me how you can get all the miners to agree to this short of a catastrophic bug.

Clear enough on BTC's shortcomings in this area?

Now for NXT, when it first was released, it had the payment ability. Faster than bitcoin so better, but essentially the same functionality.

In less than a month namecoin functionality was added. This immediately boosted market prices for NXT to around namecoin market cap. This is not simply because namecoin functionality is so good, it is because it showed the ability of NXT to do an update and gain a new functionality. Let's see any other altcoin or bitcoin do that.

the other thing it did was make clear that if there is a service, people will use it and spend NXT like drunken sailors. All the transaction fees then get distributed randomly to the lucky lottery winner of that block (approx minute). While the big NXT holders tend to win most lotteries, even very small holders eventually get some and this redistributes NXT, it also makes it a built in dividend reinvestment program, and makes NXT the only crypto that has a positive yield.

James

trl55238,

thanks for your kind words

I am only me, only so much I can do

however there are thousands here, thousands

I want to encourage everyone to copy my posts or their contents or just the spirit and spread the message far and wide. It is critical that whenever we find a public statement that spins NXT like yuri does that we counter with powerful statements, backed by truth. A statement that is not countered is like a server node that goes offline that we don't put back online.

If we all sent out the same powerful message, within weeks, we will own that spot on the ladder in people's minds.

I want to create an investors relation page. Not sure where the best place to put that will be.

I am leaning toward using a slogan like "NXT is for intelligent investors", with the implied "BTC is for speculators" The investor relations page will back up our slogan. 5 simple words that speak the truth.

It also ties in to the book that Buffett's teacher Benjamin Graham wrote. I forgot that detail the other day. The Intelligent Investor is the reference book for value investors, so in the investor community "NXT is for intelligent investors" communicates very clearly what we are trying to do.

As people will try to disprove that NXT is for intelligent investors, they will get involved in fact finding that will contradict their initial skepticism. This is because NXT will transform the world economy from govt fiat fiefdoms to a unified global NXTconomy. The potential is to capture a meaningful percentage of global GDP within NXTconomy. Some of my high end valuation scenarios are just too crazy big to post, people will think I am some crazy lunatic. For now I am sticking with 0.01 BTC target. Underpromise, overdeliver.

Do you want to be an intelligent investor? Buy NXT.

James

P.S. Does someone have the time to cut and paste and edit all my posts into a handy reference page that everyone can use to combat the rhetoric against NXT? I am actually on vacation now.

not the book of genesis, the "block of genesis"

0.01 BTC is simply the point where NXT market cap and BTC market cap are roughly the same. Actually it is trending toward 0.02 BTC as more and more BTC gets mined, but I use 0.01 to have some room.

NXT is better than BTC in many ways.

NXT is extensible. BTC is like compuserve. It wasn't extensible. NXT is like the internet, very extensible. How many of you remember compuserve?

NXT pays a dividend and allows for a calculation of lifetime future cashflows,which in turn allows value investors to consider NXT. BTC will never pay a dividend, BTC is for speculators. NXT is for intelligent investors.

BTC is established, NXT is not established yet. By communicating the truth about NXT and BTC, smart people (who tend to have a lot more money than people not so smart) will invest in NXT. Speculators will start selling their BTC to buy NXT.

I see it more as an inevitable shifting of assets tied up in BTC to NXT combined with new smart money coming into NXT.

James

user1922,

In the beginning there was BCNext who decided to give away millions of dollars worth of software to 71 randomly self-selected people, known as the founders.

The founders had no idea what a gift they were going to get, nor the responsibility.

Since it was BCNext who created NXT, who is anybody to say he did it fairly or unfairly. It was his to giveaway as he saw fit. He did.

Is it fair? Is it unfair? Seems to be a pointless question to me. It is done, can't undo it.

Just what is the responsibility of the founders? Should they just give away everything for free or calculate what a fair return is on their 1BTC and give away everything above that?

NXT is a meritocracy. The founders had merit because they found the obscure NXT thread (I didn't), the followed it, and followed through with sending in BTC.

NXT is in the early adopter stage. Let us assume that in  3 years, NXT is trading at 0.01 BTC, everyone who is an early adopter is getting it at <0.0001 BTC. How unfair is that to everyone else?

Knowledge is power. Knowing about NXT gives a person the chance to decide whether he wants to participate in its distribution at current market prices.

How much fairer can you get?

This forum is not censored, anyone can post repeatedly, even people like yuriygeorge. Everyone can take the time to read the posts to find out what is going on. No more excuse about being an obscure thread as it is the longest active thread. Of course, people will start complaining the thread was too long and they couldn't bother to spend the time to read it all.

So unfair. Lazy people will miss out on buying NXT at current prices and will have to wait until it is easier to get.

James

Olimpiata,

try restarting the client, if the blockchain website shows it, it is probably there, the wallet lost sync

James