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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 23, 2014, 03:27:37 AM
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I think more than anything NXT suffers from lack of people who have both a deep knowledge of the project and who have strong presentation skills. You have some people in your group who have good presentation skills (like Kris) but who feel out of depth when it comes to technical stuff.
Anybody I talk to needs to be able to explain to my why it's not an insanely bad tradeoff to not have a wallet.dat and to require a very difficult to remember, unique brainwallet to be entered for every action. That is by far the biggest barrier to actual use, and I've yet to hear a good solution.
What about joefox? He's perfect - great presentation skills & knows the technology. edit: is joefox Kris? You sound like you know the tech stuff pretty well. Maybe you and anon136 can be a double act. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 11:15:16 AM
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James, I am not going to question or even comment further on any of your ideas. It seems to me that every time I do, you take it as distracting neanderthal personal attack and threaten to quit NXT development because both your work and your vision for NXT is so unappreciated. This is never my intention. I have only intended to initiate respectful, honest debate on critically important topics.
I do not believe it is appropriate that you have someone you apparently consider to be an ongoing adversary to serve as a treasurer for the funds you control. Please identify whom you trust to serve in this role and upon their concurrence I will deliver to them passcodes to NXTcommunityfunds, NXTcashoperatingfund and NXTcashcompletionfund.
Best wishes to you and to NXT.
Woh, back-up rickyjames!! James is taking a break from this thread for 1 week. Consider leaving this decision for when he gets back. You guys might not agree on everything, but both you and James are hugely respected in the NXT community. The 'best wishes to you and to NXT' has me freaked a bit. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 07:24:54 AM
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The problem is that if the community rejects what I am doing, then some parts of what I am doing wont work. For example, I think there is a way to create a NXT network health indicator. nodeminer already is gathering most of the raw data that is needed.
....
I want a poll, but not sure how to set one up.
James
James, it sounds like you need to convince Jean-Luc and CfB of your plan. Those guys don't operate through this thread in a big way, so why not go straight to them and see what they say? If they agree cool! If they are unsure then maybe a vote. Either way, try and avoid the need to tackle every counter argument against your ideas here on your own. There is an element of 'politics' going on, but my feeling is most agree with your mission statement - "To make NXT the platform upon which all of crypto goes mainstream" Actually, now that AT will support AM and Asset operations, I can do everything on top of NXT core myself as long as 10% of NXTers participate. Nobody can stop me now mwahahahaha! did I do that right? NXT platform is coming. It cannot be stopped. Just gotta prepare for it. James That's great James! Have a good week, then come back and 'do your thing'. Oh, and I think the correct megalomaniac laugh is 'MUAHAHAHAHA' |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 06:59:45 AM
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Everyone-
The issue that James brings up is REALLY IMPORTANT. If you are skimming through this part of the thread and you quickly decide that *duh* everything on AE should be denominated in nxt because nxt rules, THEN YOU HAVE COMPLETELY MISSED THE POINT.
Sorry for the all caps alarm bells, but this is a really complicated issue. If you do some research into the "petrodollar system" you will find a real world example of the problem that James brings up. Forcing the world to buy oil in USD has contributed to the USD's current status as the world's reserve currency. It has benefited the US government by increasing the value of USD (increasing worldwide demand for the dollar). However, now the US government has to make sure that oil producing countries only accept USD for their oil, or else the value of the USD will plummet and cause economic havoc for the US and the world. This is one reason that the US government is so friendly to the Saudis. This is also a reason that smart people are really worried about deteriorating relations between the US and Russia. The petrodollar system is a house of cards.
By analogy, only allowing trades in the AE to be denominated in nxt will have similar effects. If we succeed in making everyone use it, then sure, nxt prices will fly to the moon. However, the petrodollar system is highly unstable, and requires some serious political maneuvering to keep it running. It also required the most powerful country in the history of the world (debatable, I know) to get started. Lets be real here. We are a very small, niche community. I don't know if we could make AE successful with only nxt-denominated trades, but I do know that we would be making things much much more difficult for ourselves.
I also believe that such a system is inherently unstable. If we try to force people to use one currency, either by design of the nxt platform, or by dishonest marketing, we are ultimately doing more harm than good. We need to deliver unique, useful, and price-competitive services as a network. If our network is better than the alternatives, and if we market ourselves effectively, then we should see mass adoption of the nxt network and our personal wealth will increase. There is no easy shortcut.
We don't need to be the reserve currency of the internet to be ubiquitous and successful and richer than we are now. Please, please spend some more time thinking about the consequences of this decision.
Good explanation, thanks! |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 06:55:43 AM
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James, please listen to windjc. Just do your 'thing' and focus on finishing your coding work. You have oodles of support in the NXT community, and I for one get freaked out when you start talking about throwing in the towel. There are plenty of key people in the NXT community that we can't afford to lose, and you're definitely one of them. You'll never please everyone, so stay out of this thread as much as possible, and concentrate on pleasing yourself. As you say, you have the perfect skill-set for NXT - code, tech marketing, & finance.
You don't have to justify what you're doing!
Now, go and have a few beers.
The second one tonight offering alchohol. Maybe there is something to that. Maybe I should start drinking! Ive just had a really rough week Maybe I should just unplug for a week, finish the gateway and then do the jean-luc release note thing!I will just design things to work even if only 10% of NXT'ers participate. Yes, I think that is a good plan. Not so sure about the drinking thing James Sounds like a good option (doing the jean-luc thing). As for the drinking, if you've made it this far in life without booze DON'T START NOW  Whatever you like to do to unwind - do it tonight, and have a dble dose!! |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 06:52:30 AM
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The problem is that if the community rejects what I am doing, then some parts of what I am doing wont work. For example, I think there is a way to create a NXT network health indicator. nodeminer already is gathering most of the raw data that is needed.
....
I want a poll, but not sure how to set one up.
James
James, it sounds like you need to convince Jean-Luc and CfB of your plan. Those guys don't operate through this thread in a big way, so why not go straight to them and see what they say? If they agree cool! If they are unsure then maybe a vote. Either way, try and avoid the need to tackle every counter argument against your ideas here on your own. There is an element of 'politics' going on, but my feeling is most agree with your mission statement - "To make NXT the platform upon which all of crypto goes mainstream" |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 06:36:21 AM
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Thank you for the support. (and buybitcoinscanada and brooklyn)
However it seems that a lot of people here simply want a 1.0 coin and not a platform.
I get the feeling that everytime I come up with a cool new feature, a lot of people will get upset and I am not sure what to do. With NXT I can do almost anything and I am in the process of designing a set of features that will put NXT so far ahead of all the other cryptos, but now I am having second thoughts.
Why bother. It will probably just get shouted down because nobody has ever done it before, or it will "kill NXT" by some magical illogical means. But that is what I do. I come up with stuff nobody has ever done before that the MARKET wants. It is a combined tech/marketing thing that I have the knack for. Probably because I have done a lot of tech marketing and a lot of coding and a fair amount of trading. Kind of a unique combination.
Remember when I said I wanted to do a gateway. Yawns, boredem. Centralized, yada, yada. Well I thought I could make a gateway that was a cut above the centralized exchanges and after an incredibly long period of four weeks I am close to a beta release of a fragmented automated multisig gateway. To my defense, I have been sidetracked for a significant part of that time simply defending myself from attacks. I did also release the "coin that shall not be named". Not sure if anybody ever said it couldnt be done, but people wanted a way to reinforce forging and it solves that.
Now I am writing all this software. Some of it will require support in the NXT core, most of it wont. I think I will simply stop posting any details about anything. There is no point when math gets debated. I just see math where others see, I dont know what. Every time this sort of thing happens, I lose the positive state of mind that is needed for this type of cutting edge work.
I cannot keep fighting over each and every feature that i need to support what I am doing. I am not asking for NXT AE to be changed to be denominated in NXT. I am just asking for the ability to be able to have the option to denominate trades in some other asset. Certainly with the neanderthal mindset that nodecoin will somehow kill NXT, doing anything like this will certainly put a stake through its heart.
Here is the plan. I will make a short list of things that I need to implement what I am working on, it will be something like:
1. comment field in asset transfer (this I need to 100% correlate gateway deposit transfers to deposits) I hope this wont cause NXT to explode too.
2. Fractional assets
3. the ability to denominate AE trades in other assets
4. some special NXT acct to be used for mixing and/or NXTcash, needs a little support in the core, not much
5. tbd. probably a few more small changes, not sure yet as I am still not done with the full design
Am I asking for too much?
Unlike most people, I am working night and day on NXT. I am writing a lot of code. I am adding features to NXT that no other crypto has. I have not disclosed all the features it will have as I have not been very encouraged by the reception so far of what I thought was noncontroversial features. It must be so easy to complain about everything. I try to be positive. I try to stay focused. While what I am doing is not exactly what BCNext envisioned, I believe it is in the same spirit and I am trying to complete as much of the feature checklist as I can, as fast as I can.
Please start a poll on whether you want NXT to be a platform or a 1.0 type of coin or some magical mystical fairytale impossibility. I can do platform, you dont need me for 1.0 type coin, the last one is beyond me.
James
James - I think its important that you just do what you do. This Nxt community is the epitome of decentralized. Its like herding cats. And that's ok. But people are going to bitch and complain because thats what they do. This is not a place for the thinned skin or for people looking for accolades before a finished product. Spend the time with people that support your efforts and ignore the others. Stay clear with your vision. NXT is a marathon not a sprint, so just keep your head down and look long term and realize that most of the people who argue with you today will not even be in the NXT community a year from now. James, please listen to windjc. Just do your 'thing' and focus on finishing your coding work. You have oodles of support in the NXT community, and I for one get freaked out when you start talking about throwing in the towel. There are plenty of key people in the NXT community that we can't afford to lose, and you're definitely one of them. You'll never please everyone, so stay out of this thread as much as possible, and concentrate on pleasing yourself. As you say, you have the perfect skill-set for NXT - code, tech marketing, & finance. You don't have to justify what you're doing! Now, go and have a few beers. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 04:04:22 AM
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I have been thinking about this nxt mining pool thing. Am I right with my ideas? It seems to me that this could basically kill every alt coin one by one, basically anything that is not running off of PoS. Basically what would be happening if multiple large mining pools mining for nxt were formed, they would jump into alt coins and dump, which would crash the price of said alt coin. At the same time, they would be raising the price of nxt. If even 2-3% of miners in the world switched to mining nxt indirectly through mining alt coins, it would be kind of like a mafia, constantly knocking out one coin at a time, and if the coin got back up, it would just get knocked out again. Eventually...... once the nxt mining mafia go a certain percentage of mining power, most other miners would be faced with a choice, continue to mine coins that are not profitable, turn off the miners or join nxt mining pools. Am I not right that this is the end game?
NXT is assimilating alt coin market cap into the POS hive mind as we speak. The NXT cube is descending on crypto land - alt coin value will be assimilated - resistance is futile! |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 01:43:09 AM
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With a very few exceptions, I believe the top 100 holders in all the cryptos control the vast, vast majority. Most coins start with a community of much less than 100 active miners and with the way the blockrewards are done, after the first month (or week or day or hour), 90% of the coins that will exist in the next few years are mined. In a lot of cases less than a half dozen control more than 50%. This is before it hits any exchanges, so it is almost impossible for more than 100 people to get the initial "distribution" Why people single NXT out for this, I dont know. Maybe BTC is a bit better due to its maturity and DOGE due to its user base size, but is LTC, NMC, AUR, etc. any better distributed? Doubtful. There are a few coins, that attempt to get a fair distribution, but did they really? Short of real world kyc, nobody really knows. In any case, how this is relevant escapes me. In the real world, there are people who are born into money or win the lottery. While people envy them, are their constant crys for them to just give their wealth away? A lot of them end up doing it anyway and if NXT lasts long enough, father time will take care of redistribution to the next generation. James +1 Poor old whales. If they hold they're being greedy. If they sell they're crashing the price. Only other way to distribute is giveaways and bounties, which many whales have done in the last 4 months, and from all reports will do more of in the future. NXT distribution 'problem' is being solved IMO. More important task for whales is to pay for developers and infrastructure. NXT whales are doing an OK job compared to most other crypto coin founders, including bitcoin. OK job? Name me one other crypto where the big whales do 10% of what the NXT founders do. Just one please. In monetary terms. I estimate NXT is better distributed than 90% of cryptos. I dont have actual numbers to back this up, just an educated guesstimate. So, we are not top of the class in this area. Nothing is perfect. At least we are A- student even in distribution, which is NXT's weakest point. This means NXT really isnt weak at all! James You are right James (as usual)- NXT whales are doing a 'good' job, and I hope they continue by helping to fund the people doing the development and infrastructure work. I think they will! |
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510
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 21, 2014, 12:56:51 AM
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With a very few exceptions, I believe the top 100 holders in all the cryptos control the vast, vast majority. Most coins start with a community of much less than 100 active miners and with the way the blockrewards are done, after the first month (or week or day or hour), 90% of the coins that will exist in the next few years are mined. In a lot of cases less than a half dozen control more than 50%. This is before it hits any exchanges, so it is almost impossible for more than 100 people to get the initial "distribution" Why people single NXT out for this, I dont know. Maybe BTC is a bit better due to its maturity and DOGE due to its user base size, but is LTC, NMC, AUR, etc. any better distributed? Doubtful. There are a few coins, that attempt to get a fair distribution, but did they really? Short of real world kyc, nobody really knows. In any case, how this is relevant escapes me. In the real world, there are people who are born into money or win the lottery. While people envy them, are their constant crys for them to just give their wealth away? A lot of them end up doing it anyway and if NXT lasts long enough, father time will take care of redistribution to the next generation. James +1 Poor old whales. If they hold they're being greedy. If they sell they're crashing the price. Only other way to distribute is giveaways and bounties, which many whales have done in the last 4 months, and from all reports will do more of in the future. NXT distribution 'problem' is being solved IMO. More important task for whales is to pay for developers and infrastructure. NXT whales are doing an OK job compared to most other crypto coin founders, including bitcoin. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information
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on: March 20, 2014, 10:08:53 AM
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I would like for us to try and come up with a "NXT Mission Statement". http://en.wikipedia.org/wiki/Mission_statementhttps://www.missionstatements.com/http://www.entrepreneur.com/article/65230http://www.norcblueprint.org/uploads/File/Mission_Statement_Guidelines.pdfhttp://www.fastcompany.com/1400930/how-write-mission-statement-isnt-dumbFrom the links above: "A mission statement defines in a paragraph or so any entity's reason for existence. It embodies its philosophies, goals, ambitions and mores. Any entity that attempts to operate without a mission statement runs the risk of wandering through the world without having the ability to verify that it is on its intended course." I suggest two rules to this exercise. First, posts containing your personal vision of the NXT mission statement contain no elaboration, explanation or follow-on text. The whole point of a mission statement is that it is short and self-contained, and is supposed to stand alone. Second, say or post NOTHING about anybody else's NXT Mission Statement, only modify and resubmit your own based on what you see others write. This is a brainstorming exercise. We will probably end up with several variants of a mission statement. This may help us identify and understand different "subcultures" in our community and who belongs to them. Or this may just be an exercise in futility, I dunno. Here's a first draft of "My NXT Mission Statement": The mission of NXT is to become humanity's most widely used blockchain-based currency for the purchase of goods and services online. Think there needs to be more? This mission statement is a blockchain of sorts - add to (or fork) it! Great idea! This'll be fun |
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