Let the market work.
Let people do business however THEY see fit.
Do not try to force people to use YOUR favored currency. That is behavior suited for governments.
NXT will succeed, IF we empower people to do business in THEIR preferred way.
+ Very well said (the whole post). Trades can be denominated in any currency. BUT, if there is any attempt to force traders to use a particular currency/token, then it must be NXT and nothing else. In other words, free for all, or only NXT. I hope it will be implemented this way, provided there are no serious technical issues. A decentralized, flexible trading platform with low fees, multisig gateways, plus special high end features using AT will make Nxt AE a class of its own! |
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community input needed:
Unique names for assets? For example : BLABLA (only issued once)
Or non unique names for assets?
For example: BLABLA 12423434 and BLABLA 343434334 (you only choose BLABLA, the rest is the asset id - automatically generated)
(Perhaps, I'm not sure, the number can be shortened..)
If you have another idea, please specify.
Non unique names + auto generated asset ID Allowing a first come first served method for asset name registration will result in squatting & non-meaningful/potentially misleading names. I suggest we use a system generated incrementing number starting from 101 as the unique asset ID. Asset Issuer can append any tag to the numerical ID.
eg:
115:BTC [ Asset description]
116:BTC [ Asset description]
117:ABC [ Asset description]
Asset ID 1-100 could be reserved for special assets.
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Will we be given some kind of heads up regarding when the asset exchange is opening? It'd be nice to let everyone know so we all can plan to be sitting at the computer and try to reserve our favor assets instead of these assets being taken lottery like based upon the first people to realize it's been released. It'd probably also distribute them a little bit more fairly between people trying to pick off the good names. Because I can think of a couple asset names that everyone would love to own.
Anyway, owning assets names to never use them sucks.I bought many aliases ,which could be speculation, but i find assets a more serious thing that should only be taken if you are really issuing the asset. What do you want,to have 10.000 assets which are really nothing??That would kill asset exchange,if you have to dive into thousands of assets to find something is worth > 0. In fact, i would try to give jl777 preference to create first all the assets with a gateway, so people could knew all assets with coin name in account XXXXXXXX are safe.This exchange letting trade all the main coins is what NXT needs!!!! If you get hundreds of people trolling asset names,it will be a mess no one will want to touch. Well, im glad its 1000 nxt to issue an asset,it solves a part of this problem.But still, i think we need to focus to have all the main coins gateways ready with their assets,and let people know how to get to them fast and easy when we launch the AE!So when they first use the AE,they see they can do something useful with it, instead of logging in and just click buttons and see how colourful it is.(no offense wesleyh,we all love it  ) Allowing a first come first served method for asset name registration will result in squatting & non-meaningful/potentially misleading names. I suggest we use a system generated incrementing number starting from 101 as the unique asset ID. Asset Issuer can append any tag to the numerical ID. eg: 115:BTC [ Asset description] 116:BTC [ Asset description] 117:ABC [ Asset description] Asset ID 1-100 could be reserved for special assets. |
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Where nodecoin becomes part of the fabric of NXT is if we as a community decides to offer it as an official ongoing reward to run a computer and support our network.
Once we do this, once we cross over this line, we can no longer call ourselves a pure Proof of Stake cryptocurrency.
We will have changed the core definition of what NXT is if the NXT experience is expanded to include the awarding of nodecoin along with the forging of NXT.
This is the key point of rj's argument. Nodecoin is not any "ordinary" coin anyone can create on top of Nxt. If it were, no one would have any reason to object to it. Reasons why it is not any ordinary coin:- 1. It was designed to be used as an integral part of Nxt. At the heart of any crypto currency is the blockchain, and how it is secured. NodeCoin has been positioned to be the mechanism to (help) secure it. Anything, whose function is to secure the network will be seen as an integral part of Nxt, whether it is in the NRS core or otherwise. This alters, or at least can be perceived to alter, the DNA and hence the very identity of Nxt. Therefore it cannot be treated as just an ordinary coin anybody can build. 2. It is designed to power the key engines of Nxt (AE, gateways, NXTCash, NXTmixer, etc), which are projects funded by the community. " Nodecoin should be redeemable for accessing services (DAC, NxtCash, whatever)". So if a Nxter has millions of Nxt but no NodeCoins, he has to buy them just to uses the very services that are suppose to make Nxt unique? That makes NodeCoins to be more superior in function than NXT. Edit: I hope I have got this point wrong! 3. It has been positioned by James as a non-profit, community project. This gives further credence to Ricky's point that "we as a community decide to offer it as an official ongoing reward to run a computer and support our network". If this has been privately developed by James as a random Nxter, this association will be absent. If we agree that it is no ordinary coin for the above reasons, then we should consider Ricky's point about NodeCoin altering the very fabric of Nxt; and not just brushing it aside as just a coin anybody can create on top of Nxt. |
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Funding issuesSome thoughts in response to recent discussions. To put things in perspective, let's see what is being done and has been done in the area of funding. What is currently available for spending:We have over 12 million NXT available at the community's disposal for a very long time. If we include the 5M pledged by Mr 47, we're looking at over 17 million. Bulk of this ammunition has been sitting idle due to problems obtaining consensus. Remember how long the unclaimed funds debate dragged on? That's the price we have to pay for decentralization. We are now days away from finalizing the various committees. Once that's done, they should, in short order, be able to deploy that sizable stash of reserves to fund urgently needed activities. What has already been donated and spent:Newer members of our community may not be aware that substantial amounts have been donated by founders during the early days, and some continue to do so till this day. Some prefer to donate publicly, others prefer to do so anonymously. So, besides the 17M currently available, many more millions had already been spent to promote and strengthen the Nxt ecosystem. If you don't see them, it does not mean that donations were not being given. What about apparently inactive founders?Numerous nasty, and often unfounded, comments have been thrown at founders. These are not helpful, and will only have the effect of turning away these so called whales instead of engaging with them. I wonder if more will be actively engaging if there had been less of these negative attitude. Please realize that one way or another, founders have made a collective effort to help bring Nxt to where it is today. I see 3 broad strategies adopted by the founders to achieve this:- Strategy 1 (Short term) Some have chosen to take the strategy of distributing NXT fast by selling very cheaply immediately after launch. Look at the early posts in the trading thread. Many of you benefited directly from these founders' strategy. Strategy 2 (Medium term) Others have chosen to take the strategy of distributing NXT further down the road (after the dust has settled from the early fire sales), by donating through bounties and other means. This group provided the fuel to power the Nxt economy through the stormy days of DDoS and subsequent building of the Nxt infrastructure to the state we see today. Notice that if all founders had chosen strategy 1, we would not have seen the increase in the value of NXT. This will not have provided the incentive for early adopters to continue working on the project. It would also not have drawn in new investors. On the other hand, if all founders had chosen strategy 2, nothing would have moved and all their NXT would be worth nothing. You can see that there is a very delicate balance between these 2 strategies. They compliment each other, and they have managed to keep this delicate balance in a decentralized manner without having to collaborate like a cartel!. It's market forces and collective wisdom at play. Strategy 3 (Long term) All eyes are on a very small number of large founder accounts that don't seem to move. This, I think are founders who are taking a long term strategy. These founders have decided to hold substantial amounts to act as possible network defender of last resort. They provide the ammunition needed to fight off yet unknown threats which may require a large stake to defend or to fund more costly development and infrastructure further down the road. A possible example is Mr 47. If you think carefully (read between the lines) about his last 2 conditions, you'll see how that falls under strategy 3. If we don't lose sight of the forest for the trees, we can see that free market forces and collective wisdom of all well-meaning stakeholders ultimately work towards the strengthening of the Nxt ecosystem. More engagement and less non-constructive criticisms will certainly help. Finally.... back to funding for the core dev team, and for that matter funding for marketing & infra. I do not think founders will continue to pile more NXT into the funds if they remain underutilized. Once the committees begin to spend the funds wisely and prudently (showing results), and when it begins to run low, I am pretty sure founders and early adopters will step up to the plate. I will be one of them. In the long term, I do not think the community should be remain reliant on central funding for building the Nxt ecosystem. While it is essential during these early days (as a bootstrapping measure), the ecosystem should develop in such a way that it will become profitable to build services. Taking Bitcoin as an example, save for Gavin, all other developers (core, client, infra) continue to support the ecosystem through indirect "privatized" means. If we continue to pick up traction, we may be there sooner than we think.
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Web Client on local TestNet I downloaded Wesley's dev.zip and inserted unzip copy into 0.8.3 html/tools folder. UI worked from http://localhost:7875/dev/#When I do the same for 0.8.5 (after setting nxt.isTestnet=true), UI from http://localhost:6875/dev/# does not work (localhost:6875 works). What other settings have to be changed to make it work? |
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Ok , i make the list and i save in my PC .
Write you test address and your nickname .
The 5K you sent a while ago has not showed up yet. 858492554429534417 Pouncer |
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With 0.8.4e, to switch to testnet you need to set in nxt.properties:
nxt.isTestnet=true
nxt.testnetPeers=bug.airdns.org
Testnet stuck at blk 76246. Have deleted nxt_test_db and resync from scratch, still stuck at same blk. Pls advise. Thnaks. Same here, and I've got 20 peers. Restart machine fixed it. At blk 76252 now. 20 peers |
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With 0.8.4e, to switch to testnet you need to set in nxt.properties:
nxt.isTestnet=true
nxt.testnetPeers=bug.airdns.org
Testnet stuck at blk 76246. Have deleted nxt_test_db and resync from scratch, still stuck at same blk. Pls advise. Thnaks. |
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With 0.8.4e, to switch to testnet you need to set in nxt.properties:
nxt.isTestnet=true
nxt.testnetPeers=bug.airdns.org
This is the test blockchain as obtained from holms. Those who have test Nxt, should be able to access them. Please start forging, as the blockchain is days behind.
You also need to use your own 0.8.4e node for API and UI access - bug.airdns.org only accepts peer to peer requests, don't try to unlock accounts there or use http API against it.
Thanks JL. Can someone pls send some testNXT to 858492554429534417? Original balance has disappeared. Thx. |
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@Klee, cool research project! Let’s move it one notch higher - from immortal brain wallets to cold storage across galaxies, just so your NXTs are more securely preserved. Take a snapshot of your Connectome (delineated pathways of the brain). Pump the Connectome into a laser beam and shoot it to a relay station across the galaxy, which takes the laser beam and then puts into a surrogate. Your conciousness & your NXT cold storage brain wallet has just been teleported! Oh, MiM problem not yet addressed, but I'm sure someone will figure that out  The Brain ProjectThe Future of the Mind (Michio Kaku): The Scientific Quest to Understand, Enhance, and Empower the MindWhat if THEY "read" ur Nxt account passphrase? They will have access to ur brain, right?  Shit, that is bad!  Solutions? Maybe a DAC??? Awaken man's switch??  |
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OpportunityCan someone develop an Nxt equivalent of Proof of Existence so that NMAC (and other Virtual Corporations) can register itself like this company did on the Bitcoin blockchain? This well written prospectus can also be registered and published using the same method, making it official and "legal”. It gives a greater sense of legitimacy and serves as a show case of how the Nxt ecosystem can provide similar or better safeguards for investors normally enforced through government or centralized means.
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I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.
The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?
hover over the 10+ and you'll see the exact number. alternatively you can use http://localhost:7874/nxt?requestType=getTransaction&transaction=[your transaction number]I believe this is a bug of the blockchain explorer, transaction confirmations sometimes get stuck. Also try block explorer at http://www.mynxt.info/blockexplorer/ |
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What happens to the objected one? If no concensus committee has to vote (voting system tbd, non gameable voting system) Woah, woah, woah. I want to call a time out here for a few pages. I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. The infrastructure spending thread has been open for all of about 36 hours. Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project. There is NO WAY we have given the proper amount of deliberation to what is being proposed here. And a vote is being called for already if we haven't achieved agreement as a committee? Um...what's wrong with this picture? I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now. We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project. Just for starters. We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here. I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy... I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5? Instead it's just put your name down as a candidate and you're in? On as many committees as you want? So how is voting for funding going to work in a group of people like THAT? Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH. I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon.. Agreed, somehow I assumed the debates in progress had no actual executive power. So first things first, what about opening a new spreadsheet where members volunteering/applying for the committees can enter their profile in a comment field? Then set polls. Having made a general expression of dismay a few posts back, let me zoom in here a little. Pin, I like you and we see eye to eye on a lot of things and I applaud your initative and these committees can probably use a Trail Boss and you might very well be the right person for that task. But I gotta call it like I see it. And one guy who has not been voted in to be a leader just cannot make statements like "If no objection by tommorrow first project XYZ will receive 50K from the infrastructure unclaimed coins fund." and "If no concensus committee has to vote" when the committee hasn't even had time to say boo to each other yet. I haven't gotten involved yet because I thought we were still in some kind of phase where people were still putting their names in to APPLY for the committee. Somehow I missed the memo that we've got the tach redlined while we're screaming down the freeway of love in a pink Cadillac. So I'm gonna say two things and shut up. I hereby vote no on every single infrastructure project until I see its details on a spreadsheet line. And I'm gonna go off and create that spreadsheet right now. I'll be back with the links. The community must come to a concensus as to who is the person authorized to request the treasurers to make a spending transaction. Each treasurer should "take orders" from one person only, and ideally it should be a different person for each fund/treasurer. |
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Great summary, Ricky. Just a few comments:- True Anonymity
Bitcoin transactions between wallets are recorded forever on its blockchain. NXT achieves true transaction anonymity via the no-trust-needed zerocoin (testing now) / zerocash (coming soon) protocol developed at John Hopkins University.
What about BCNext's original built in mixing feature? "Nxt is being developed with payment privacy in mind. I have not revealed details yet, but I can say that there is a special account in Nxt (recipient #0), later it will be used for advanced features (mixing, escrow, etc.)". I assume this will be available in April? https://bitcointalk.org/index.php?topic=303898.msg3355477#msg3355477Transaction Rapidity
Bitcoin takes 10+ minutes per block for a max throughput of 7 transactions per second (TPS), currently using a 16GB (and growing) blockchain. NXT currently takes 1 minute per block, with improvements in block timing speedup and routine chain pruning expected to support an eventual 1000 TPS.
What about using automatic rather than "routine" chain pruning as per BCNext's original design? "Each 525949th block (1 year) the blockchain will be shrunk (and checkpointed)" https://bitcointalk.org/index.php?topic=317607.msg3409786#msg3409786https://bitcointalk.org/index.php?topic=303898.msg3372610#msg3372610Consider adding a very important feature "Instant transactions with guaranteed confirmation", again a key original design by BCNext. Edited: https://bitcointalk.org/index.php?topic=316104.msg3386387#msg3386387Thanks. |
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Based on 1 account 1 vote, fmiboy just won the bounty!! 1000NXT sent. Tx id: 12436446305471535734, but plz don't ask for resend due to Transaction Malleability issues! |
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BCNext said something like do not worry about NXT being popular (or valuable). Build a digital economy using NXT. People will use the things we can build with NXT. NXT is like the roads, plumbing and wiring. Not really stuff most people get excited about. We need to build the stores, buildings, movie theatres, even farms (like POPPP has) using NXT. Most people wont know or care that they are using NXT, but of course some people will realize the value of NXT is related to the sum of the value of all the things that can be built on top of NXT.
So the more services we can come up with to build on top of NXT, the more people will indirectly use NXT. As a community, if we can think of things for "normal" people to use built on top of NXT and then making it as easy for them to do this, then the number of NXT users will be much larger than the number of bitcoin users. Also, it will be relatively easy to monetize any significant usage so we can build businesses creating services for people, all on top of NXT.
THINK BIG!
BCNext gave us a platform to build on. Like the Internet protocol when it only supported email. Sure email was useful as compared to faxes, but most people back then actually sent physical letters through the mail! How many protocols run on top of IP today? How many things can we build on top of NXT? What will be the http equivalent for NXT?
James
++ '' Socialism distributes the pie, capitalism expands it" |
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