Bitcoin Forum
April 22, 2024, 11:49:51 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 [40] 41 42 »
781  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 05, 2014, 02:40:12 PM
And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

a simple question without being in any way offensive

just in case we get into the world of finance, what makes nxt superior to say xcp, msc, bitshares and ethereum? we cannot handle high frequency trading, the others cannot as well..

when you give proper answer to this and it is technically possbile this should definetely be the way to go.
782  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 05, 2014, 02:26:25 PM
Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

I thought our team spoke to the Cryptsy team in Miami and then we have sended an email to them. But it's true that we don't see any developments about this.

if i remember correctly they want a client first and the re-evaluate.
783  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 05, 2014, 11:39:04 AM
This is an interesting concept but I don't expect widespread adoption of XCP.

First of all, its use is very limited. I don't think it will win over a single professional trader ever. In this time and age of HFT (high frequency trading) in most markets, especially the very liquid ones, where latencies are counted by the microseconds, the pace of 1 block per 10 minutes is not really going to cut it. This alone already rules out liquid markets like FX, MM, rates equities and commodities, where 99.999% of the trades are. Low Lack liquidity in XCP will translate to huge spreads and slippage from hell, making it unprofitable to trade through XCP, which in turn hurts liquidity. You can't break that vicious circle unless you can compete with the lightning speed and market depth at the exchanges. Unfortunately I don't see that ever happening. And oh, the exchange fees in these very liquid markets are negligible, especially for high volumes, so no advantage for XCP there either.

Mind you I'm not dismissing XCP, it's fantastic technology and it will have many novel applications. But I just don't think it's going to have the same level of impact as bitcoin, which was truly a paradigm shift.

I hope I'm proven wrong though!  Smiley

Blockchain-based technologies in general, whether BTC, MSC, XCP or Ethereum, will not be used for HFT. The scalability is simply not there for that. OpenTransactions servers, on the other hand, are excellent for HFT. Blockchains are for higher-value transactions and settlement.

Thanks for your input Vitalik. Speaking from the Wall Street perspective, not all exchanges out there are even suitable for high frequency trading (witness the recent rise of electronic exchanges - ARCA, BATS, etc). Not all participants are interested in "low-quality" liquidity so to speak, as provided by most high-frequency exchanges (which was one of the indirect causes of the infamous 2010 Flash Crash). Not all assets need to be traded on a real-time basis (real estate [which has many analogies with BTC], bonds, and mutual funds for instance). It's not also widely appreciated that official settlement for stock trades occurs not instantaneously, but 3 days (the T+3 rule). In contrast, 1 hour (6 confirmations) is widely acknowledged to be a reasonable settlement time for even the largest BTC trades.

The blockchain more closely resembles, say, the housing market or the contracts/swaps derivatives markets, which don't operate in any way similar to HFT even though they handle trillions of dollars in notional value. So the notion that non-highly liquid markets can't be valuable is absurd.

It makes an outrageous amount of sense for Asicminer to start using Counterparty.

The CEO of Asicminer, friedcat, currently keeps track of which bitcoin addresses own the 400,000 dividend-receiving shares with an excel spreadsheet.

He has to manually update this spreadsheet every time someone wants to transfer ownership of a share.

It usually takes days to transfer ownership of shares, 10 minutes would be a massive improvment.

Asicminer on Counterparty would be an epic combo.


Come join the discussion in the Asicminer thread and help bring Counterparty to friedcat's attention!

https://bitcointalk.org/index.php?topic=99497.msg4907871#msg4907871

o.O so what happens if that excel spreadsheet is lost?

ASICMINER listing on Counterparty could be its Netscape moment  Shocked

I'm sure he has many backups.  The current method of transferring shares of Asicminer is to create a thread in the auction section, like this one: https://bitcointalk.org/index.php?topic=439392.0

Then private message and/or email friedcat so he can change the addresses on the spreadsheet.

Many times people also use an escrow provider (such as John K.) to escrow the transfers.


This is a ridiculously inefficient, slow, manual process of transferring ownership of Asicminer shares.

If you're not familiar with Bitcoin securities, Asicminer is the most prominent of them all.

Before the end of burning I wrote a pm to cityglut that we should concentrate marketing especially in our early days to miners, they are also mostly technically competent, so they can use counterparty immediately.

unluckily I do not have contact to any miners - do you guys have?
784  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 05, 2014, 11:26:26 AM
will trustless high frequency trading be possible when1000 transactions per seconds are possible
785  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 05, 2014, 01:54:12 AM
maybe it is a captain obvious noob question. but in the future with transparant forging, can nxt work as a somewhat open transaction server?
786  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 04, 2014, 09:03:26 PM
Being able to trade ACTUAL bitcoin, litecoin, DOGE, etc. using NXT will be a very powerful feature and put a dent into all the centralized exchanges. Maybe using AE and AM or maybe just directly.

Need to do blockchain operations to all the other cryptos that are supported which is not as crazy as it sounds:

https://en.bitcoin.it/wiki/Atomic_cross-chain_trading
https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains

Since I am supposed to be technically incompetent, I think it would be a good thing for you to comment on whether this is impossible to do with NXT

James

One company is already working on a trustless NXT-to-BTC-and-back gateway.

is xcp the gateway?
787  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 04, 2014, 07:00:11 PM
Look whats happening with bitcoin!

MtGox, the oldest and once-largest bitcoin exchange, appears to have a serious problem. Since about a week ago, clients’ bitcoin withdrawals have been deducted from their account, but the clients never received the money – the money withdrawn was effectively disappeared into thin air. The community is furious and as of now, MtGox has racked up over USD 38 million in such unfulfilled withdrawals.

Source: http://falkvinge.net/2014/02/04/major-bitcoin-exchange-not-executing-withdrawals-now-owes-clients-38m-in-disappeared-money/

Asset Exchange is going to be a game changer!
We going to rule to world!
WE ARE SKYNXT!


well we have to hurry, i believe we wont be first anymore , XCP is the first DEX , you can buy weed there already Cheesy

yep they are the first ones. even though it has some small bugs it is working quite impressively
788  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 04, 2014, 04:40:36 PM
it is hurting NXT no matter what.
it is hurting current price of 1 NXT no matter what.
Fixed.
translation:
"It helps the wide and easy distribution"

Smiley Yes. BCNext doesn't care about the price.

This is trivializing my question and misinterpreting my statements.
I said it hurts NXT, not the price, but NXT itself.

I would think BCNext too would have the insight to understand that having a common goal to work towards is healthy for the community, but perhaps he is truly that bad at reading people and markets. I don't know, I don't know anything about him really.

All I know is that YOU CfB talk about his upcoming plans as if they will change and make sense of everything and then when someone is even a tadbit critical, you get all defensive and accuse others of relying on BCNext. That is just wrong in my opinion.


Again: all I want is more info so we can collaborate as a unified community towards a common goal. Why you keep mentioning the price of 1 NXT is beyond me.

What specific info do you want?  I believe CFB has been pretty straight forward about what is being implemented in the future.  We have several features and more on the way, things take time to develop.  

Specifically I want more openness. CfB keeps talking about what will happen and mention BCNexts mysterious future plans as if they are the game changer, yet we, the people, get no knowledge of this until later on.
My question is basically: Why?

Why the need for secrecy and mystery? It simply cause confusion and uncertainty, which is the last thing you need in a new world that is ruled by scams, empty promises and paranoia. Hell BCNext who is so paranoid he wont even post anymore should understand this better than anyone.
NXT needs branding and marketing, it seems finally that everyone understands this, but then it shouldn't be hard to realize that the current atmosphere of uncertainty hurts NXT and lead important people away from NXT.
As someone who has worked in this area of NXT for almost 2 months now I can tell you that the biggest obstacle NXT has faced is to convince people it's not a IPO scam due to the very bad distribution. There is A LOT of uncertainty resting over NXT that hurts NXT.

Like CfB mentions over and over, we the community shouldn't rely on BCNext and that we need to develope ourselves. This is all fine and well, but then he turns around and says that the upcoming secret plans is where the real juice is at and just adds further uncertainty to everything which again lead the developers to view NXT as too uncertain to invest time and energy into. It's just one big mess.

If the reason is that he fears that someone will copy his ideas then that is obviously understandable, but why can't he then state that officially?
I just don't see why it is so hard for him to communicate to the community through CfB and remove all of this lingering uncertainty.

I have nothing against CfB, CfB knows this very well and noone is mad that things take time, but if we had more info on why certain things takes the time it does and so on then it would be easier for all of us to help out with things. It's really that simple.
+1
knowledge for decentralization
789  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 04, 2014, 03:05:49 PM
I don't think Uniqueorn wants BC to have control, he wants the features/big guns rolled out as soon as possible.

He wants the opposite of what you said - more control not less.

Exactly!

my guess is also that real decentralizations only works properly with perfect knowledge. that is really an issue within the nxt community
790  Alternate cryptocurrencies / Altcoin Discussion / Re: [EMUNIE] Open Beta One - Information & Schedule on: February 04, 2014, 02:33:21 PM
do you have a whitepaper - i would love to read about the economic model. fixing and almost fixing exchange rates is one of the most complicated issues in economics
791  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 04, 2014, 02:20:31 PM
well maybe i am wrong but

CONGRATULATIONS TO YOU FOR THE FIRST DECENTRALIZED  FINANCIAL MARKET IN CRYPTOCURRENCIES


2014 will be the beginning of cryptofinance and no matter where this ship is going you were the first who realized it
792  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 03, 2014, 11:50:28 AM
I have a question about Dividends. It relates to my previous question. Again it seems that trust in the issuer plays a giant role here. If we cannot completely trust the issuer, the value of the asset needs to be discounted.

Is there a way to create trustless assets? There seems to be a way to put BTC into escrow and I assume the same for XCP. I might have missed this, but is there a way to designate an Asset as being backed by assets in escrow? That way, the purchaser of an asset would have the option of always just redeeming it for the amount in escrow. For things like pooled BTC (XCP) funds, it can be 100% backed by escrow and there would be no risk of default or funny business.

If there was a way to put other cryptos in escrow, then a crypto fund could be setup, closed ended for sure, maybe even open ended and it could be composed of a variety of altcoins and BTC providing a diversified portfolio to reduce risk in this volatile market.

Further risk could be removed (or income produced) by buying put options or selling call options. I am envisioning professionally managed crypto portfolio that doesn't require trust!

Any chance of this anytime soon? Anytime at all?

James

Soon...Soon!

by the moment you get that managed, xcp will be one of the most valueable altcoins
793  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 02, 2014, 08:51:34 PM
everyone can sell for the price he wants, it is free market, if you are not long term related to the project.

anyway I am with James that the price should tend to be in any relation to the marketcap of mastercoin, dont know if it is 30%,50%,75% or parity. But 5% of the price cannot be price relation Wink
794  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 02, 2014, 08:29:01 PM
I reread the original NXT thread and I think one of the key reasons the price of NXT did so well was that immediately after genesis block, a market price of 1BTC per million NXT was established. This was a big premium over genesis price.

I think I saw some price for XCP at .01 BTC on some external site, I like the sounds of that for a starting market price.

If we can all be firm and not sell for below .01 BTC, then that will be the new price.

Someone needs to purchase XCP at .01BTC, I would but I burned all my spare BTC

Any buyer and seller to start the after-burn XCP trade market at .01BTC?

James

it is one of the most promising long term projects, i am not willing to sell anyway

795  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 01, 2014, 06:44:17 PM
Regarding Counterparty's development, we've come up with what we think are good guidelines specifying the limited role of the core Counterparty team vs. that of the Counterparty community at large. We'd love for members of the community to review and comment on this as we see this statement, once approved by our team and the majority of the community, as serving as the guiding principles of the Counterparty project as a whole.

Counterparty Project Principles

Members of the community have burned or otherwise invested their funds into the success of the project.  The core development team will produce and maintain the reference client(s), official website and protocol specification. The community will self-organize and produce products, services, and businesses around these tools, as well as their own.

As a member of the community, you are encouraged to:

  • Freely create useful applications around Counterparty technology and be compensated accordingly as people use your product or service.
  • Be proactive and take initiative around the Counterparty protocol and in the community which will collectively be evidenced by a rising XCP value.
  • Promote innovation by cooperating, sharing and collaborating with other community members.

Generally Agree - I am planning of Donating ~10% of my XCP to created Bounties.

I cannot add much value regarding technical development. But as a financial economist I will probably add a paper why XCP is superior regarding superstructure to Mastercoin, probably Bitshares and Ethereum. Counterparty almost fullfills one of the core axioms of economics, which is brutally important to functionality of financial markets, the atomic hypothesis.
796  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: February 01, 2014, 03:24:22 PM
Genesis account passphrase was cracked before it was revealed - https://nextcoin.org/index.php/topic,3752.msg35274/topicseen.html#new

And cracked by Doctor Evil, no less! Cool

so much love for the password
797  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 01, 2014, 12:10:09 PM
I have been playin with the idea of using Counterparty asset and market features to build an exchange for an altcoin that lacks one. My guess is that this would require some kind of backing from an individual or organization in order to convert the assets bought into real funds ? Am I wrong with this ? Is there a better approach ?

You need to get the idea of having some trusted entity to "back" things out of your head. The optimal solution is to use a DAC to create something like a decentralized credit union. Research it, implement it, change the world.

the one winning this game ....
798  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: February 01, 2014, 02:56:41 AM
I think i read somewhere that price is 0.01BTC/XPC.

That was a 3rd party seller, which is selling XCP at that price. But mainly, how are we going to increase the demand in this coin? I have alot of marketing skills behind my belt, I can help.



Patel if you have some particular suggestions, please PM me.

PMed you
799  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official on: January 31, 2014, 11:11:23 PM
maybe we should wait with price evaluation after burning is over.

what we now have is a (highly) functional but still user-unfriendly protocol - I have some ideas regarding marketing, anyway maybe we should for a day longer Wink
800  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NXT :: descendant of Bitcoin - Updated Information on: January 31, 2014, 10:39:07 PM
NXT @ bitcoin magazine:
http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/

"With the growing popularity of cryptocurrency, the future looks very bright for NXT"

great  Smiley
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 [40] 41 42 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!