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.
I like what James proposed, no need to change Nxt core. When account creates first asset, client can create poll for the account and attach poolId end of every asset description that is created by that account. And client can get feedbacks from pollId to measure trust for that accountID and present it to user on AE window. Also, you can restrict users from buying assets that are in not the users trust list. That will force the users to do research and verify that they are adding a legitimate issuer to the trust list. This will cut down most of the fake/scam issuers. |
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msin, I agree with you on every point you made except the part where you said you wouldn't mind if the Nxt market cap went to $1 mil.
Nxt whales have already taken $18 million of market cap out of Nxt from 50 million to 32 million today. Nxt needs new investors and needs the market cap to grow NOW. Nxt needs that market cap (price of NXT) to grow in order to attract new investors.
NXT Whales. Stop Dumping and give Nxt time to release AE. Thanks. You've taken your profit. Now invest in the future of Nxt.
Only idiots care about market cap. It's a meaningless number. It attracts new speculators/buyers who buy things that they think is growing. |
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But everyone HAS to admit that .1 is high, at least for long term. Consider BTC now and how extremely low fees are. This is because BTC is still in mining phase now; consider what BTC will look like is 2140 when no more coins are generated and miners are then paid only in fees. Hell, consider what will happen to mining soon when block subsidy is halved again - drastic ROI change. Does anyone know when this happens again?
BTC is POW coin and will still require computation/electricity once the mining phase is over. It costs me absolutely nothing to run Nxt software on my computer, as my system is already running regardless if I run nxt node or not, and my bandwidth is unlimited. |
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I don't want to base a decision to use a platform on some arbitrary decision that may or may not happen in the future. I have no faith in the decentralized developers to make this decision correctly in the future. I want to know now what would happen in the future before I decide to waste any more time believing in this product's potential.
The network is decentralized, but the core software development isn't. The lead developer is Jean Luk. There is nothing decentralized about the core software development. |
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However, XRP has an infinitesimal transaction fee, which allows these centralized exchanges to set their own fees. In Nxt, if any similar exchanges wanted to use Nxt in this way, traders would either have to pay both Nxt's fee and the Exchanges fee. Therefore Nxt has pretty much eliminated the motivation for centralized exchanges to use Nxt at all. Unlike XRP, NXt comes preloaded with lots of friction.
You are going way too long again and again on tx fees. This is not an issue. TX fee will be changed to 0.1 and they can be lowered even more if nxt prices go up. This is not an issue. TX fees exists to prevent spam and flooding. In my opinion .1 fee is way too much for spam protection. basing it on transaction size makes way more sense. The competition is going to eat Nxt's lunch. You are not bringing any new info. As I told you it was already agreed that 1 nxt fee is too high 1 month ago when reddit tipping bot was developed.. There was consensus to drop it to 0.1 Nxt, but it requires some work in the core. This is already being done. This is an old topic. What else do you want? |
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However, XRP has an infinitesimal transaction fee, which allows these centralized exchanges to set their own fees. In Nxt, if any similar exchanges wanted to use Nxt in this way, traders would either have to pay both Nxt's fee and the Exchanges fee. Therefore Nxt has pretty much eliminated the motivation for centralized exchanges to use Nxt at all. Unlike XRP, NXt comes preloaded with lots of friction.
You are going way too long again and again on tx fees. This is not an issue. TX fee will be changed to 0.1 and they can be lowered even more if nxt prices go up. This is not an issue. TX fees exists to prevent spam and flooding. |
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My concern is that any subsequent fee change based on future price increases will be necessarily decided on by this decentralized development team, or be arbitrarily decided upon by one person (Jean-Luc) I don't know which is worse.
Then if/when the price goes back down it will have to be changed again. Nxt will be unable to scale to rapid market fluctuations and volatility. It is not enough for me for CIYAM OPEN to say a sudden and rapid price spike is impossible. The "what if" in me says that if that would occur the market would suddenly grind to a halt because the fees would be "too damn high".
We have discussed this for months. We even had poll about this, and it was agreed that tx fee will be 0.1 for now. It can be changed in future, and there is nothing wrong with it, nor would it be a problem. |
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I realize that we still have some discussing to do on non/unique "names" for assets. I just laid out some very good reasons why I think we should change it to be non-unique: the squatting issue, and by doing so it allows us to reduce fees for assets which in the event price of NXT shoots up, this low price for issuing assets will be SORELY needed on the AE.
Yes, I agree. The names should not be unique. It only leads to confusion once all the good names are taken by trolls and squatters. As for scams, the buyers will have to do some reasearch. The asset issuer will have to advertise his ID on his website and the buyer will add that account to their contact list. Or his "trust line" (like ripple). Once that is done, the buyer will be able to buy only the assets that he added to his contacts list, that will protect him from clicking the wrong asset. |
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Non-unique asset listings could create confusion, or worse they could be a scam haven, with multiple BLABLA issuers.
Let's clear that up for you. In the current Nxt "distopian" future you will have these Assets: Microsoft (scam) M1crosoft (scam) M1cr0soft (scam) Microsoft_2014 (scam) Microsoft_2015 (real - assuming they haven't destroyed Nxt out of anger about the 1st listing) Can you see why unique names are a problem now? May as well just make it this: Microsoft 38234124 Microsoft 98289128 Microsoft 12349123 Microsoft 58345345 Microsoft 13912342 only 1 is legit anyway (so *buyer* needs to *do more research* rather than just getting ripped off). Yes the buyer will have to do some research. The legitimate asset issuer will have to advertise their account number on their website, with PGP signed message. Once the buyer adds that to their contact list, they won't be able to buy scam version. The client can protect them. |
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fees should only be as high to prevent blockchain dusting and that's it. 1 fee to send money 1000 to issue assets is ridiculous it should be at least 0.01 and 10, but rewarding those who pay higher fees by making sure
As was mentioned, this is to prevent just a few people (or just one) from stealing and squatting on best asset names right after the launch. This will be reduced to normal transaction fees some day later after the launch |
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All fees should be completely free to be chosen by the payer/sender. If he wants to send his money or issue assets for 0.000000000001 nxt fee so be it but he must be aware there are high chances of his transaction taking a really long time to be approved due to not being too good for forgers.
Some kind of fee is needed to prevent spam and attackers sending millions of bogus transactions to his/her own accounts. The fee should be reduced to 0.1 Nxt though |
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We need something that will make NXT relevant, a flagship application that people aged 16-24 (the ideal target audience of a crypto-currency business, or at least mine) can't resist.
I'm working on that right now. Digital Goods Store that could be used to sell pornopics. How is this going to work? Would it be web based? Link? |
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If POS isn't profitable and owning Nxt is not profitable and only owning assets are profitable, no one will be around to develop the asset owning system into the future.
The future is not something we can easily predict - but if you have a choice of two platforms: 1. Fee of 1% 2. Fee of 0.01 USD The % doesn't make sense. I hope to see the fees reduced to 0.1 Nxt soon. I don't "forge" because of "fees". I do it voluntarily to support the network. It costs me absolutely nothing to do so. This applies to vast number (if not all) forgers. We only need fees to prevent spam, and as of now 0.1 should be enough. |
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Please note that I goofed in my original post about the multipool. The ports are 3008 for the vardiff, 3032 for the fixed 32-difficulty shares and 3256 for the fixed 256 difficulty shares.
that is:
stratum+tcp://hashrate.org:3008 for vardiff
stratum+tcp://hashrate.org:3032 for fixed 32-dificulty shares
stratum+tcp://hashrate.org:3256 for fixed 256 difficulty shares.
username: your NXT id
password: whatever you want
The share stats are all on the hashrate.org page but they are currently password protected because I am exposing them directly through the redis-commander (which is a big security nono) - I will get the stats all on a totally open public-facing page first thing tomorrow. I should have SHA-2566 up by then too.
Thanks all!
Hi all, I should have the public facing site available later tonight - sorry, I am at my day job currently and I have to go out to my parents for dinner after work but I will get the statistics working tonight once I get home. I will also have a status page, where you can easily check the pool health/status/latency. For now though, here are the pool stats per worker: NXT ADDRESS WORK (SHARE * SHAREDIFF) 1762953482260651997 70960 10533725144527397164 2760 7618169005788956270 80704 10585982206581025333 391976 9415965710853847055 7360 7636587858188289735 24600 11406935220378196801 5568 7060315567742807944 9024 14475745119171788011 9728 13777396447329170446 34896 2188420453403939369 7968 283604373343614492 26656 (the full pay-out policy will be posted on the site once it's made public later today, but it pays out prop based on amount of work done. The pool so far has been doing not bad orphan-wise: validShares(not taking into account difficulty): 73769 invalidShares 130 First payouts have been sent to these miners 1762953482260650000 7618169005788950000 10585982206581000000 13777396447329100000 283604373343614000 some of the others have still only obtained only a few NXT. I will be updating the stratums at some point over the next couple of days to allow you to pass your requested payout interval along with the wallet ID as the name of the worker. That was quick from just being an idea (a nice one) to be actually being implemented. A lot better than the rest of crap ideas here that are being "discussed" for months but nothing happens. If this picks up, it will be be good for nxt. |
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great to see a lot of sells, stacking it up for the cryptsy pump!
Volume is dropping, Spaincoin will not go to Cryptsy. Unless someone is willing to pay for voting. Doesn't seem anyone has enough stake to vote for it |
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Price is dropping  Get it on crypsty and there is some hope for new buyers there. Otherwise it will go down soon |
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You tech heads on here have really dropped the ball on NXT. One you shouldn't have a thread with this many geeks discussing code to promote a coin.
Who told you this thread exists just to promote the coin? There are no rules in this thread. |
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If someone could send me some TestNXT I'd appreciate it: 15092019138248535173 http://nxtra.org/nxt-client/ is looking *great* anyone getting down about the price should just have a play with it in order to cheer up.  sent Can I get some? ID: 1541442619314460703 |
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If someone could send me some TestNXT I'd appreciate it: 15092019138248535173 http://nxtra.org/nxt-client/ is looking *great* anyone getting down about the price should just have a play with it in order to cheer up. This client is the best thing that has happened to Nxt in last 2 months. It's Javascript based means any idiot who can use a web browser can use it without downloading and installing anything, and it can be deployed to Firefox and Chrome app stores. |
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If not CfB, then Jean-Luc
If not Jean-Luc, then maybe CIYAM
If not CIYAM, then maybe jl777
If not jl777 then ....
Jean-Luc is already the lead developers. Neither CIYAM nor jl777 are java programmer. |
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