Seems okay, although I believe early bird should be 25% and 2nd stage should be 17%. 5% isn't enough difference between a blind early bird investment and the 2nd round investment with eXo already in beta.
It's pretty normal for the first round to want more now that they are in, but the difference between the first/second rounds should stay at 5% since that is what the difference was in the original contract ... Thank you for telling us what is normal. I was expecting 9% interest and that was in the original contract but where his that now? First round started at 15% now it is 23.5% ... why do you feel it should be more? Second round started at 10%, now it's 18.5%, I feel there should be a bigger difference between early bird and 2nd round. |
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Seems okay, although I believe early bird should be 25% and 2nd stage should be 17%. 5% isn't enough difference between a blind early bird investment and the 2nd round investment with eXo already in beta.
It's pretty normal for the first round to want more now that they are in, but the difference between the first/second rounds should stay at 5% since that is what the difference was in the original contract ... Thank you for telling us what is normal. I was expecting 9% interest and that was in the original contract but where his that now? |
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NXT developers should prioritize a colored "gaming" coin. The gaming market is huge and there are tournaments being played all the time online for money. It would be convenient to trade with NXT instead of cash because many gamers are young and international. It will be quick to transfer money from one corner of the world to the next. I play Starcraft II and Diablo III. Starcraft 2 has tournaments all the time, and you could trade Diablo 3 items for NXT. The potential is huge!
Get in touch with swartzfeger he's our official Nxt Gaming expert. |
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done  Thanks guys, did hear from the Bittrex team, I sent them some Nxt to test on their system and they are working hard to implement with their automated system. They were impressed with the dev help (Opticalc) and the community support. Thanks for all who signed up. We should be all set with them soon as well as Atomic Trade, I believe Byron left an update post here today. |
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I'm gonna start a game here. Which is probably a mistake. Play along if you like.
This page is my
BIRTH YEAR
and blue is my favorite color.
Wow, you're pretty old. My birth year page is not for two more pages.  Easy buddy, RickyJ has been known to terminate for much less. |
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I think a 1.2X early bird advantage is hardly worth the risk. If I had known that 2nd stage investments have the potential to achieve upto 80% equity stake in a project that (if realized) will be many orders of magnitude farther along, vetted, tested by the community and explained by the time the 2nd round funding is ready to end. I would have absolutely bookmarked this thread and visited it in a few weeks to 'see what happened'. There is no way I would have locked up any resources in this until later if/ever. Crypto moves 24/7 and rewards the quick. Not those locked up in escrow for weeks/months at only a 20% advantage to those that had weeks more time to use btc for other pursuits.
Hindsight is always 20/20, I will concede that I think the devs are making the best choice they can come up with quickly to look forward to a healthier coin. And I also know there is no point arguing about risks with people who have not even bought into this coin yet. With 'hope' the Early adopters will become a very small part of this community. And there is no point in spreading negativity in a community that is only going to get increasingly hostile to early adopting interests.
Lets hope that 2nd round funding goes extremely well and gets 100's+ BTC
That everyone uses Escrow, EVERYONE USES ESCROW!
That the devs march forward and keep us involved in this project every step
And that this community grows
I strongly disapprove of the potential reality this new outline could produce if 2nd round investment is very small as I suspect/fear it will be.
However I choose to support the devs in making a difficult and diplomatic decision.
+ OKAY to the new plan.
+1. This might sound "greedy" for some, but seriously, the amount of risk taken by 1st round investors (BEFORE even the whitepaper) should be rewarded by more than 20% of the second round. I'd vote for 24% / 17%. But I guess it also depends how many the second stage gets. If there is a lot of investments, then I'd be fine with the current proposition. I don't believe 2nd round will reach the early bird BTC mark, nor much higher which would be required for the early bird to be a good deal. |
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Hey guys,
I don't mean to crash this thread, but I am interested in where the community believes the value/price of NXT will go over the intermediate term (2-6 months) and why.
I have seen different speculations thrown out from time to time, but I haven't been able to find an in depth discussion of the topic.
Obviously if we just look at "news" then the upcoming asset exchange would have some potential to increase the perceived value of NXT. Then, after that the decentralized exchange would have potential to increase the perceived value.
However, I would assume that some real utility would have to begin within the NXT system - i.e. some real exchange trading - substantial fee generation for forging, etc. for the price to really sustain any upward trajectory over the occasional over-bought/correction scenarios we see in all alts.
Any thoughts on the value of NXT (in terms of BTC not dollars) in the intermediate future?
And as a bonus question, I personally would be surprised to see an alt, including NXT, to gain more than 1/2 the market cap of Bitcoin at any given time unless the utility of that coin became a real challenger to BTC - which I believe is a long ways off in any case. So .0125BTC seems to be a best case scenario ceiling for NXT for the longer intermediate term.
I believe that 1 NXT is worth $1 and is not actually tied to BTC and I base my actions accordingly. The fact I can get NXT for much cheaper keeps me buying whenever I can until the price catches up. Ok. But theoretically if NXT becomes $1 because BTC becomes $10000, then its not a better investment than BTC. That's why I am interested in the future Nxt/Btc price. Yes, I see where you are coming from. Nxt is still way under valued in my opinion. BTC would have to reach a $100B+ marketcap to be worth $10,000, BTC is already reached critical mass growth. Nxt only has to reach a fraction of BTC's current marketcap ($1B) to be worth $1 per Nxt. I truly believe by the end of the year we will be at least $1. |
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So it's just a client that sits on top of Bitcoin wallet, nothing revolutionary and still very slow. Would theirs work with other altcoins as well? We need more people helping jl777 (if he needs the help) to get our crypto gateway working.. Someone make a clone of jl777, please! Our solutions is still very different and faster (better). This is just like developing a wallet that incorporates multiple coin clients and then allows you to trade based on your holdings. |
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Seems okay, although I believe early bird should be 25% and 2nd stage should be 17%. 5% isn't enough difference between a blind early bird investment and the 2nd round investment with eXo already in beta.
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So it's just a client that sits on top of Bitcoin wallet, nothing revolutionary and still very slow. |
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Admin of BTC-e is in the trollbox. Someone should ask him about NXT. I can't post there.
Someone did ask and that was a clear NO. I'd like to see us on Cryptsy, where are we with that? |
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Hey CIYAM, would an "Escrow" use case be possible with AT? I feel that this would be very useful and have been thinking about how it's possible with AT.
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How hard is it to write a bullshit whitepaper ? If i'd try a scam like this ( which i'd never do, to be clear ) I'd make sure to provide as much believable data as possible.
How hard is it to write a bullshit whitepaper ? If i'd try a scam like this ( which i'd never do, to be clear ) I'd make sure to provide as much believable data as possible.
wtf? I think the real question is; How hard is it to write a different troll post for your different troll accounts on BTT? |
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any opinions on skycoin? scam? it looks legit sorta to me but not very well supported??
I believe this is the Nxt thread last time I checked. |
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So I've been following cryptocurrency for almost a year now.
I have been mulling over an idea and thought it was time to release it to see what people think.
I don't know how this could be done, and not sure if it could utilize nxt due to high TF.
Now that there has been discussion about making coins built on top of Nxt I can forget about the high TF for now.
The idea..
Tying digital image (or any file or digital content) ownership to a colored coin via smart properties (that's my current thinking on how to implement)
This would give anyone that wants to copyright their content a way to stick it onto a secure, public ledger.
This is useful for stock images as they could set a smart property and give certain rights to someone that wants to use the image on their site. The image or API or something would check the network to verify that there rights for the subuser to use the image like whenever it is shown on a website. Nxt is good for this especially with the transparent mining.
I don't know how this could be implemented, but there are something like a Trillion digital images produced every year with only a few being digitally watermarked by highly expensive services. I think cryptocurrency can solve this and make it very easy and cheap track the rights to one's content.
I know most would want to pay to use those images that are just floating around the internet. Attaching some kind of address and/or smart property to an image can make it easy for those that want to do right by an original content owner and give them something, even if it's just a fraction of a penny.
So say you create a viral image that gets millions of views.
Right now that person most likely gets zero for it.
But if somehow all the servers and/or clients had an easy way to pay fractions of a penny to the original owner, that would make it easy for everyone to pay to use.
I don't know much about programming these days, but I think this could be a killer app if implemented correctly. The cryptocurrency that it gets attached to could be the de facto for content rights management and payment. This would seriously enhance the worth of the cc (cryptocurrency) that it is tied to by many factors IMHO.
What do you think?
sorry if you don't follow what I am getting at, basically it's some kind of DRM utilizing a secure, decentralized public ledger.
I have some NXT, BTC, LTC so I could send some to whomever takes this on to help the currency grow.
Definitely an interesting idea, could probably incorporate Alias, Messaging, and AE to tackle the project. Any kind of DRM solution utilizing Nxt would be huge. |
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On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.
For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?
The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.
I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.
James
Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from? The NXTcoin will be aggregating the computing power (previously wasted) into a coordinated cloud supercomputer. I will integrate business useful functionality right into the coin, so if I do my job correctly, the businesses that find access to a cloud supercomputer useful will pay for usage. I plan on charging in NXT. This creates a unique use for NXT as no other currency would be able to directly purchase access to the coin supercomputer James Edit: I am not talking about pie in the sky brute force searching for genome markers that WCG does. I am talking direct computation of things that business want. Interesting, I could see many coins being built with this model in mind, a coin that provides a service, paid for in Nxt, and mined to keep the network strong. |
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On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.
For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?
The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.
I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.
James
Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from? |
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Who is currently working on the Decentralized Marketplace / Auction system?
I don't believe anyone, there were talks about using a torrent style system to distribute marketplace which could be loaded to client. If you are interested in developing, there would be quite a large bounty available. |
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Throwing out some suggestions here on prevention of centralization due to leased forging power...
Set a hard limit on size of a pool's effectiveBalance consisting of leased power. Maybe 5M or 10M NXT or something like that? We may even want to set a limit to max size of a single account's effectiveBalance, such that if a single account's balance is higher than, say, 10M NXT, then its effectiveBalance is limited to 10M. Users could then choose to split accounts and forge on different machines that would then provide a measure of redundancy.
And since these countermeasures *could* be broken via configurations of software/hardware if the pool operator or user *really* wanted to, I think we still should pursue the TF option of selecting secondary, tertiary and even 4th and 5th accounts that could quickly forge a block should higher priority accounts fail to forge in a quick manner.
+1, limit Pool size to 1% of total Nxt is a good idea. |
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Did the second stage start yet? I think I'm like 3rd person to ask this in the last few hours with no response. It doesn't seem like a difficult question.
Yes?
No?
When?
How?
No, it has not started, the dev is waiting to organize before launching 2nd round. |
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