Bitcoin Forum
October 24, 2017, 04:30:51 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
  Home Help Search Donate Login Register  
  Show Posts
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 »
1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:59:19 AM
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them.
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:48:16 AM
What about management, entry clashes, expiry, abuse handling, spoofing and all that kinda thing?

Ah, I see your point now.  Nxt lets to trade assets represented by colored coins for NXT in atomic transactions.  All the rest is up to asset issuers.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:46:34 AM
So a REAL P2P exchange, that many many smart people have been looking at yet not done, is trivial in your opinion?

REAL P2P exchange from the scratches would take a lot of resources.  The same on the already implemented code required 2 days of coding.
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:43:57 AM
Let me show this using Nxt DNS as an example.

What I have to do to add Nxt DNS

1]  Add a new subtype of messages -- SUBTYPE_MESSAGING_DOMAIN
2]  Add code for processing "resolveAlias" request -- ~30 lines of code

That's it.  Now an Nxt node processes transactions that set domain aliases and requests from JavaScript that asks for real address.
5  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:32:45 AM
All the features?  Smiley  They require a little coding.  Nxt core is completed, adding new features on top of it is very fast and easy.

The only thing that slows me down is the client.  I have to cooperate with the client developer.
6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:26:12 AM
I do know how to test software.  Right now 3 blockchains are being generated by 3 different computers with intensive transaction flow.  Sometimes I switch the network on and watch blockchain re-organization (longest chain wins).

At the beginning of December we will start the final test when new features is not be added and I have 3 weeks to fix found bugs.
7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:10:56 AM
Okay, what way should we test Nxt?  I can even reveal the source code before the release if most of the investors agree to this.
8  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 07:02:41 AM
Guys, could we focus on pure math instead of personal opinions?

This forum is full of haters, I see this.  Do not expect me to answer politely to all these veiled troll questions and imhos.
9  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 08, 2013, 06:29:34 AM
Quote
You are not doing it a good service by those sort of comments.. are you saying we should give up now?

Give up or do some coding.


Quote
If you are in it for the community and not self gain you probably wouldn't say something like that IMO

You are wrong.


Quote
this sort of comment makes me think that Nxt is not an honest project (maybe this is just my own intuition)

Depends on the point of view.  If you prefer to live in a world regulated by the government then this project is the most dishonest thing you have ever seen.
10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 07, 2013, 02:39:24 PM
UPDATE

Implemented Colored Coins.
Added two decimal places after the point.

We have to wait for changes in the client software.  The Russian guy who works on the client is on holidays (national holidays if I got him correctly).
11  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 07, 2013, 11:11:19 AM
Quote
1. What marketing/incentivisation are you planning to ensure a plentiful userbase?
I appreciate you are still in the development stage atm, but do you have any solid plans about this yet that would give potential investors confidence?

I am planning to have some cool features implemented by the end of November.  Everyone who gives them a try will definitely become an Nxt addict.  Sounds like a solid plan, doesn't it?


Quote
2. Is the domain name registration really any different to Namecoin? And is having a competing system really a good idea?
Your sole grievance with NMC appears to be that it is not AUTOMATICALLY browser-integrated. But your solution seems to amount to no more than installing some sort of browser plug-in alongside the client - I fail to see how this is not (trivially) possible with Namecoin? Anyone could just make an installer package that includes a .bit DNS resolver plug-in as well as namecoind/Namecoin-QT client.

It is arguable if Nxt DNS is really different to Namecoin.  But Nxt has one big advantage -- it will work from the box.  While Namecoin developers are talking/planning/dreaming I write the code.  I don't think Namecoin is a competitor, once Nxt DNS is launched NMC will become just an altcoin.


Quote
Also, your "no transfer" of domain names between addresses probably wouldn't work in practice, because people would simply sell the private keys for the addresses themselves.

How will you make sure the dude will not sell the private keys to someone else nor he use them for phishing?


Quote
3. Will the file storage only be for "official" files (like the client), or will anyone be able to upload files?
I like the notion of storing the client on the blockchain - although this of course will only be the official client, and will not include any third-party clients. Also, if file storage ON THE BLOCKCHAIN is available to everyone, even if it is expensive, then the potential for blockchain bloat is enormous (also it will preclude the possibility of implementing some sort of mini-blockchain system). There is possibly an alternative - an idea I came up with a few days ago, though only managed to work out a couple of features (it may yet be impossible). (https://bitcointalk.org/index.php?topic=326808.0). The basic idea is that peers contribute storage space (measured in gibibytehours) and are rewarded for it in coins (could be a "coloured" altcoin on the NXT chain) which they can then either use to pay for file storage or can sell via exchanges to other users who want to buy storage. How the reward system should work, or the paying-for-storage, I have yet to devise; but I have already found a way to link uploaded files to coin addresses. I should warn you though, that idea is very rough (and possibly impossible) to implement.

File storage will work for any files.  There is no difference what bloats the blockchain -- payment transactions or files.  It is okay while fees are paid.  Annual shrinking will get rid of all files so they must be uploaded again.  At the moment the blockchain is limited to 16 GiB per year, not a big deal to download 8 GiB in average.


Quote
4. What protocol improvements (over bitcoin) are you considering implementing?
You've already mentioned faster transaction times, PoS over PoW, and some new types of contracts; I think you also mentioned somewhere about coloured coins (or equivalent). But what about things like "mini-blockchain" (or one of the equivalent proposals like CoinWitness)? (Though in fairness that is perhaps best done on a client-level: users decide how much of the blockchain they want to validate and store locally, and the rest they get from their peers). What about "ZeroCoin" (although the current proposal is quite impractical due to validation times etc.)? What about "micro-payment channels"?

At the lowest level it is Messaging (includes contracts, file storage, DNS), Colored Coins, Voting System, Reputation System.  At higher (user-friendly) level it is Library, Shops (like decentralized app store), Asset Exchange, etc.  Extra functionality can be added via yet-to-be-nailed Service Providing based on subscription paid with NXT.  Mini-blockchains perfectly fit into Service Providing, by the way, big files can be stored with SP as well.
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 07, 2013, 06:32:16 AM
After testing Nxt decentralized exchange I noticed that having no decimal places after the point is very inconvenient, because if an asset costs 10 NXT and you wish to sell it with profit the closest possible price is 11 NXT.  I will add "cents".
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin Is Broken on: November 05, 2013, 11:32:09 AM
Published right when Bitcoin goes up.  Coincidence?  If I were you I would check the math before stating Bitcoin is broken.  Anyone can publish a "whitepaper" with sophisticated calculations signed by a fake person.
14  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 05, 2013, 11:18:04 AM
I think I should hire someone to translate your whitepaper to a normal language understandable by an average person...
15  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 05, 2013, 07:53:14 AM
If you are going to launch the coin first, the  it might be better to do it as a spin-off coin rather than directly in Nxt.
Or alternatively, you will need approval from users.

 It changes the inflation model. Holders of USD units of value are able to print 1 USD worth of Nxt. This means that the aggregate supply of Nxt fluctuates with the Nxt/USD exchange rate. That is a pretty substantial change.


Won't the concept work if I get rid of demurrage?
16  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 05, 2013, 07:51:17 AM
that will be interesting: how you will be able to open the nxt-links without having to trust anybody, without any utilities or plugins

Non-Nxt users have to trust Nxt bootstrapping nodes (but they won't notice this).  Nxt user can use their own Nxt client to resolve links.


and how you will prevent someone registering the same name (or allow to change the old names values)

Once someone registers a domain name noone else will be able to use the name to reassign the address.  The network will ignore all such attempts.
17  Alternate cryptocurrencies / Altcoin Discussion / Re: [Nxt] Decentralized DNS on: November 04, 2013, 08:31:11 PM
Do you see any disadvantages in the concept?
18  Alternate cryptocurrencies / Altcoin Discussion / Re: [Nxt] Decentralized DNS on: November 04, 2013, 07:50:53 PM
I hope one day you will do that.  More solutions == better for all of us.
19  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 04, 2013, 07:33:23 PM
Would you consider implementing the hop protocol. It is a radical modification.

Thank you.  If this concept is viable I will put it into the first place in my to-do-after-the-launch list.
20  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: November 04, 2013, 07:27:52 PM
all you need is a DNS that supports namecoin..

It is still extra work done by a user, it doesn't matter if we call it "plugin", or "utility", or whatever.  I can not open http://dns.bit, but I will be able to open nxt-links.

I edited the OP.
Pages: [1] 2 3 4 5 6 7 8 9 10 11 12 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!