Speaking about voting. Can we just make it possible to choose method when one starts a voting? And maybe even edit parameters?
Yes, we can. For all the people discussing voting (and I appreciate it!), let's not focus on whether it's 1 NXT = 1 vote or 1 account = 1 vote - it's neither. If we want to solve it we need to find a clever, unexpected, original solution. So start throwing here your crazy ideas, like "voting with your car" or "voting with your cat", instead of going in circles. It would be great to develop a decentralized social network based on nxt. This will bring personalities to decision making process and they will care about their reputation. Also there will be groups and message boards to work together on world problems. On the other hand, such network itself will make nxt famous and everybody in the world will know what it is. Let's give free people everything they need: money, power, electronic democracy! Was it crazy enough? CFB offered a bounty to develop a decentralized forum similar to BTT, but no one had tackled the project so far |
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Part of getting our company together aligns with the goals of Nxt. In other words, we look forward to spending a lot more time helping bridge connections with this community.
A portion of the 10M NXT needs to go towards this effort. That is what 3mil is for, more than enough. |
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1 Ether = $1 is ridiculous, especially when you consider fees. You will pay $1 per Ether but that will immediately be worth $.5 per Ether because of 50% founder premine and further devaluation from mining in the first year. It's a shitty way to do things. Also, I wouldn't piss on the dogecoin community unless you want the Jamaican Bobsled team knocking on your door.
firstly: to avoid making yourself look like an idiotic troll in the future I would advise reading the white paper BEFORE commenting. the so called "pre mined coins" are the Ether that you are purchasing at the IPO. the so called "founders" end up with only a few percent of the coins over time. the initial distribution model was chosen to be broader than that of Bitcoin. secondly: DOGE coin was intended to NOT to be taken seriously so why do you taking comments about DOGE seriously? thirdly: the Jamaican Bob sled team are welcome at my house but unfortunately my house is a bit far from Jamaica and Sochi, perhaps you could organise a fund raiser to fund their flights here? Fourthly: Which white paper, cause they've changed it so many times I can't remember what the original looked like? Let me guess, your buddies told you about Bitcoin last summer and you thought it was neat, welcome to the party dork. |
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I appreciate the responses. I still am having trouble wrapping my head around it.
The way I understand it is that, you must invest into this currency for it to have any real worth for you. And effectively, your fiat investment, is your proof of work. Then, your proof of stake takes over and you are rewarded for that stake through forging. However, if you can't invest, and have 4 NXT like me, than the estimation timer for forging a block is 70000+ days!! I'll be dead by that time, and probably my children as well...lol. The NXT wiki spells it out best, "The amount of coin you can earn is dependent upon the number of coins you hold, the total number of coins "active" on the network, and the transaction fees included in blocks on the blockchain."
Think of it like this. You want to mine some BTC, do you power up your 386 and wonder why you aren't mining BTC? No, you go out and buy some $5k rig beast to mine BTC in a pool. Nxt is like that, but instead of buying depreciating electronic equipment, you spend a couple $k on appreciating Nxt and then you can forge. When everything is up and running, the block rewards will significant. |
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Ok, that is fine and all good and dandy.
My question though for the devs is this: How exactly did they settle upon a ratio of between 1000 - 2000 Ethers per BTC? I am curious as to that rational, that's all. Why not 100-200 ethers per btc? or 10000 - 20000 ethers per BTC? What was the reasoning?
probably because its closer to todays dollar amount. you don't want one ether being worth $1000 at least not initially because there will always be some ill informed people who will be turned away from investing based on the price alone. conversely you don't want the value of Ether to be too small either because then it would create too much dust and be too hard to manage. extremely low prices also add unnecessary volatility to the market (see penny stocks as an example) 1 ether being worth 50c - $1 is much more in line with a small cap IPO price. if your going to hand out 10,000 ETH for every 1 BTC then you might as well call them DOGE COIN 2.0 or Zimbabwe Dollars 2.0 1 Ether = $1 is ridiculous, especially when you consider fees. You will pay $1 per Ether but that will immediately be worth $.5 per Ether because of 50% founder premine and further devaluation from mining in the first year. It's a shitty way to do things. Also, I wouldn't piss on the dogecoin community unless you want the Jamaican Bobsled team knocking on your door. |
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haha best of the day! Let stick to 1 NXT = 1 VOTE. That is the simpler approach and it seem fair to begin with.
+1, 1 Nxt = 1 Vote, it's the only way to do it in a POS currency. |
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To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:
A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT
Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.
James
I would be absolutely appalled if we spend 10Mil Nxt on marketing, that is utterly ridiculous. We have a lot to talk about and present to the world right now as MUCH work has been done and there hasn't been a major advertising effort yet. Okay, so doing some big things now is good. Show all the hard work that's been done. But then, just have enough to keep the stream of information flowing so people who want it can follow on developments. (Joesfox's planned Nxt podcast for example) When another or several major milestones are reached, we can have another big marketing effort. The point now is really to build community, meaning dev's and others who can actually help continue to build the foundation and the structure upon it. People with skills and ideas. Price rise is going to be an effect of the advertising, but with out the community building its just a temporary and superficial effect. Blasting away a bunch of money to get all up in peoples face just isn't the right way to do it. TLDR: advertising has it's place, but most of those funds should be used for bounties to actually build Nxt. Real growth comes from having a good (or in Nxt case, revolutionary) product. Edit: More specifically, any marketing efforts really should be geared to pique interest and attract some talent. Is there a list of all the things that are needed to "actually build NXT"? Maybe I am totally offbase, but it seems that within a couple of months we get the killer TF functionality, plus all the other nice functionality. Clients much sooner, etc. Whenever I lobby for spending on marketing, people refuse and say we need so much more tech. OK, please tell me what tech we need? Let's make a list of all the tech we need, come up with reasonable bounties that assures they get done, use the rest for marketing budget for the year. We then propose the COMBINED tech/marketing list for a vote. We can do both, tech and marketing. Let's just not wait until April comes and CfB sends the 10 million to genesis, because he will if community has no consensus! James Let's cool it on the marketing talk for now. I would say you are not totally offbase, but need to think about this realistically. We use bounties as an incentive for people to develop new and innovative projects, web tools, features, etc... We've already talked about giving 3Mil to marketing, which is more than enough to market new features as they are released. |
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To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:
A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT
Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.
James
I would be absolutely appalled if we spend 10Mil Nxt on marketing, that is utterly ridiculous. Over 1 year Did you not see the value in having people at the trade show? That costs money. Who do you think attends trade shows? It's people and organizations that use Bitcoin, not a foundation of Bitcoin itself. If we develop usable API's, Features, Marketplace, etc.. then Nxt will be used by more people and implemented into more technologies/companies. The only marketing we should be considering using the 10Mil Nxt is to give 100,000 people 100Nxt, that would be far more effective than spending on marketing campaigns. Marketing is the antithesis of crypto credibility, developers will think Nxt is some cheesy marketing ploy, not a legit crypto currency. I'm sure you work in marketing, because of your enthusiasm, but as someone who has been a part of many startups to IPO's (the biggest out there), marketing is best spread through your user base. |
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How would any technical bounties speed up deployment of Transparent Forging? That is the key to everything and it is already being worked on by the best man possible.
What technical piece is missing for NXT to be superior to emunie/etherium?
From what I can tell, when nexern is done with client his DNA will be the etherium killer and I will bet that he will get it done before etherium's crowd process gets it done.
So, with Asset Exchange we are pretty much at feature parity with emunie. What is missing? I have not tried the emunie beta, so I have no idea what features they have that NXT doesn't. If it is a super important feature that NXT doesn't have, then certainly, let's get a bounty for it ASAP.
If we have enough tech and not enough marketing, why not balance it out and get the marketing? If emunie and etherium were not doing their IPOs as we speak, I would not feel this sense of urgency. There is only a finite amount of people who will invest in cryptos and they WILL be choosing between emunie, etherium and NXT as these are the second gen cryptos. Some will hedge and split between the three, some will go heavier into one other than the other, etc.
Shouldn't we get as much of the second gen investor funds as we deserve? What percentage does NXT deserve? Are we going to get that percentage? If not, then we need more marketing.
James
I guess I just don't get your mind frame. I work in the silicon valley, marketing campaigns often see very little results, the most effective marketing is organic, grown through user base because of superior feature set, it's all viral. Also, please stop talking about the 10Mil being vaporized as the only other option. We have plenty of time to decide what we want to do. Spending 10mil (1% of Nxt) on Marketing is just crazy. |
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To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:
A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT
Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.
James
I would be absolutely appalled if we spend 10Mil Nxt on marketing, that is utterly ridiculous. |
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We should stay with the plan of paying 230k nxt for this campaign and reserve the slots for the next months.
Keep in mind that Ethereum and emunie are on their way... nxt needs to be and stay in people's minds.
While long term etherium and emunie will probably get tangled in legal issues regarding their IPO's lack of formality, in the short term, they are coming out EXACTLY when NXT is vulnerable. Until April, we could actually have slightly less features than emunie. I know this is a tech oriented community, but I hope you can understand that sometimes it is prudent to substitute marketing/PR for a gap in tech. It is only a temporary thing and maybe it won't be a big deal, but what if people make emunie a giant success and take the thunder away from NXT? Is that a risk we should take when we don't have to? Marketing as DEFENSIVE weapon. Marketing to make people excited about NXT and wait until April to decide between NXT, emunie and etherium. By then, the lawyers might already be circling one or both of those, so it would be game over in favor of NXT. That is a nice outcome and well worth taking the chance with 10 million NXT that is inching closer and closer to the incinerator. It is like a use it or lose it vacation time. Let's use it. Now is the perfect time to use these funds. It will make all of our NXT worth that much more in the long run. That is what I want. Don't you? James If we are going to be behind other projects on features, shouldn't we be funding bounty projects for advanced features? I don't see how marketing solves that issue. |
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Off-topic, but I find it funny how every time that eMunie is mentioned in any topic, the Nxt "knights" immediately jump in to bash it. I still trying to figure out if it's because you have 100% facts that it's a scam to relieve all of us from our precious coins, or it just because it supposed to provide all 2nd gen features from day one on mature and well tested platform, features that Nxt only plans to add sometime in future, and may well crash Nxt valuation back to December levels?  Also, didn't we all agreed to focus on Ethereum in this thread? I'm heavily involved in Nxt, and my post above is not bashing eMu at all, in fact most Nxt people like eMu and think it will co-exist just fine. I think it's just a vocal minority. Now back to less interesting topics, Ethereum. |
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seems like emunie is the only fundraising coin that is doing it right, whether you like them or not.
Months of public beta testing before the IPO as well as the founders themselves having to buy-in with no premine ... I wonder why they're not claiming they need to get paid for their work. They seem to believe in their product more than the ether team does in theirs.
You have to respect that.
Ironically, users of this very forum drove the creator away and caused his released to be delayed multiple times with their FUD and scam accusations. I've beta tested eMu and it's pretty nice, the inflationary model isn't for everyone and the ROI won't be as substantial as other Alt coins, but it has the potential to be very disruptive as a spenders currency. |
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So... any updates from those testing the NXT Asset Exchange?
Probably why CFB is MIA for last few days, or he's on a weekend ski trip. |
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NXTarea.com update - Arbitrary Message ExplorerMy next update for today is the Arbitrary Message Explorer. There you find EVERY message which got sent to the network so far. You can also search for specific accounts which sent or received arbitrary messages. The link: http://nxtarea.com/amexplorer.phpThough this is not the biggest feature I would also like to participate in the AM contest with this script! I hope you like it. Great work, this would potentially enable a feedback system, whereas buyer can send an AM to seller with positive or negative feedback. |
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There don't appear to be a lot of undecided people in this thread, so this post probably won't even get read, but here's what I think about the IPO:
Vitalik said they can make a go of it with only 500 BTC raised. If they raise more than that, they have plans on how they can use the money to further their ecosystem. However, there is absolutely no way they could ever spend more than 30,000 BTC, so they are capping the investment at that level.
There is a difference between asking for a certain amount of money ("This IPO needs to raise 500 BTC or we're calling it off") and CAPPING the amount of money that can be raised. Vitalik's target for the IPO is 500 BTC--which is $400,000 at today's exchange rate and implies a $600,000 market cap with the premine. Now if they raise more, they have plans on how they can spend it (bounties for a better PoW/PoS system, application writers to get a jump start on the ecosystem, etc.), but they don't actually need one penny more than the 500 BTC he has stated is a minimum.
With respect for the guy who used to work at Goldman Sachs, my first impression was "Good...GS doesn't hire idiots." I'd be happy if they had ex-NSA guys working on the cryptography, ex-Goldman Sachs or Chase guys working on the financial markets, ex-NYSE guys working on the automated exchanges...the key word in each case is "EX."
You should also probably remember that the ethereum guys were in Miami this weekend presenting to the heavy-hitters of the crypto world, which is likely why they haven't posted much in the last few days.
Only 500BTC, bless their hearts they can get by on such little money.  |
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I have more than 2M NXT actually, but why does it matter? This was publicly announced on nextcoin.org forum in thread about stakeholders so you need a deeper research to find out foul play.
If there is something wrong in this application, please explain. But then also explain how did you expect my 3yo son and 60 yo mother to browse this forum to get out of newbie sandbox, post messages and install Java.
Besides, I have a few friends, who I also could help out this way, but I decided to just inform them buy giving instructions on what should be done.
What is a 3 year old or a 60 year old with no interest in cryptos going to do with NEM? Nothing. You are violating the spirit of NEM by hoarding. Why do you think he requires PMs? To counteract this sort of bullshit. I have a cousins, uncles, grandparents, parents, siblings, niece etc. is it then ok for me to get 10 NEM accounts on their behalf? There is just something fishy about the way you presented it. "I have transferred 25 and 50 and 100 USD to a NXT account" when you admit they don't care about NXT. Why would someone who just became rich on NXT only transfer $25 to someone who don't care about NXT? That $25 will never grow into a big fortune, so what's even the point? Nothing. It's way beyond obvious that you are doing this to get a hold of a bigger stake by yourself and it is disgusting given the fact that you are a part of NXT too. Agreed, one stake per person, Utopian should restrict this guy, totally fishy. |
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I'd kinda dropped the issue because it doesn't really matter to current NXT investors whether or not I was included in the presale, other than it may reflect on the character of the founders on how it was handled. It is really in my best interests for money to stay in or flow to NXT instead of going into Ethereum, where it would dilute my planned investment. Other than the way the presale was handled, NXT seems like a good investment. It just pushes my hot button, though, when the NXT presale issue comes up in these other threads.
Everyone's going to invest in Ether and everyone will have a miniscule share. |
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I mades a fred: The great Global Warming debate........https://bitcointalk.org/index.php?topic=433437.new#newGo there, have fun. The next person to mention GW gets a nasty look from me. NXT should emphasise low energy consumption and emissions reduction, can we agree on that ? Yes, agreed, POW is not the future we want to be promoting, its like giving the World Cup to Qatar! |
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