Nxt and the rise to the top.

[box0214]

@box0211: Thanks for sharing. i am wondering if the transfering of the  passphrase for transactions is save for such online clients?

that wallet is actually a modified version where you cannot login with your passphrase. is a spend from cold wallet type of solution.

first you create transaction then you sign it with your private key by using your phone to scan a qr code. the signing never broadcasts your private key across the internet. it just sends the encrypted version after signing.

its the closest thing to 2 factor authentication for a wallet setup. no other coin has this setup as of today.

[jones_]

I like NXT, and have a few K of them to have and hold.  It is a genius project overall.

The asset exchange is good, though it's hard to browse through and find assets.

The marketplace needs a way for feedback and voting on the quality of the item sold in the marketplace... something like fiverr.

Haven't checked out the voting system nor the plugin system yet - lots of development going on.

Cheers

For following the up and coming AE assets I suggest http://jnxt.org/jayex
It is a frontend to the nxt asset exchange with charts and realtime updating, it works together with http://jnxt.org/jay to be a usable decentralized exchange

I see that you copied the "sorted by 7 day volume" from NXTBlocks...
Which is not very useful since it's always the same Assets... and volume can be easily faked on crypto exchanges.

Every real world exchange ranks 24 hr Net Change = basic window into events (with a minimum volume cutoff !!!)...
If you added that I would check it several times per day.

Nice work anyway  

Interesting, that might work well for this, I'll play around with this reorganizing with my next set of improvements.

[EvilDave]

Here a couple of NXT-related bits of news:

Much fun at PayExpo2015, hanging out with the global FinTech/Payments industry:
https://nxtforum.org/general-discussion/payexpo-2015-london-9-10-june-2015/
http://www.coindesk.com/press-releases/cryptocurrency-features-prominently-at-payexpo-2015/

VoxelNauts get some more press coverage:
http://upstart.bizjournals.com/companies/rebel-brands/2015/06/08/a-new-breed-of-video-games-will-let-users-spend.html
https://www.kickstarter.com/projects/1760210928/voxelnauts-vr-mmo
https://nxtforum.org/news-and-announcements/voxelnauts-mmo-economy-to-be-powered-by-nxt/

[jabo38]

for those that are too lazy to install their own local client..
here's one that is exposed publicly to the internet:

http://jnxt.org/nxt  - Live wallet (click the 'man' icon and sign in with alias 'nxt' for a live demo)

Here's some images to go with it:

Thats pretty cool

[jabo38]

Isnt NXT price decline solely by selling pressure from original whales? All that needs to happen is them stop selling. NXT has tech, projects, community, there is no reason to be declining. Everytime there was some big news or new feature, there was always dip in price, because whales where trying to cash out on big volumes. Coins have to change hands, than price will go up.

I'm suspicious that it is actually the NXT AE that is killing the price. It seems like the success of AE has been inversely related to the NXT marketcap. 

Now that sounds counter intuitive, but one scenario could explain it.  If people are creating assets on NXT and then transferring them off market direction for BTC, but then when those get sold, they get sold for NXT on AE and then dumped. 

So for instance, I create a "jabohld" asset.  And it has 1,000,000 units.  And then I tell CfB that I will give him 10% if he sends me 50 btc to my btc account.  He does and then I send him 10% off AE market.  Later on CfB gets involved in Jinn and needs some cash.  He can't just try to find somebody to buy those directly for btc, but he can sell them on AE dumping them.  He then takes all the NXT he got and then dumps it.  This is one scenario where value bleeds directly out of the NXT ecosystem killing the market cap out of the success or pump of AE assets. 

Now I don't have any proof this happened.  It is just a theory of mine to try to explain the strange phenomena where NXT marketcap goes down while at the same time as the AE asset sum total marketcap continually goes up.  It might also be said that the exact opposite scenario could also be true.  In which case assets could be pumping the marketcap, but I find the theory way more likely that it is hurting, especially if there are questionable and shady assets.  The reason why is that a shady asset would be far more likely to leach money out of the NXT marketcap than a good one.  Lots of money their to be reaped by a good scammer. 

Anytime there is an off market transaction of AE assets where people enter/exit the ecosystem it HAS to effect the NXT marketcap.  It can either make it go up, or it can make it go down, but it clearly can not stay the same. 

Also, as a weird side note.  I have seen asset programs launched on Bitcoin via CounterParty and Mastercoin/Omni, and on NXT with AE, and on Qora, and each time the market cap of those platforms went down.  Now maybe it was very well attributed to other factors and these asset platforms has nothing to do with the drop of the marketcaps of their base platform, but it is a strange coincidence that it seems to happen. 

[markm]

That makes sense to me.

Like scamcoins in general affecting bitcoin, maybe. Every time someone gets their scamcoin accepted on an exchange that offers to exchange it for bitcoin, they dump the scamcoin for bitcoin then dump the bitcoin for fiat, thus driving down bitcoin prices... Maybe?

-MarkM-

[jabo38]

That makes sense to me.

Like scamcoins in general affecting bitcoin, maybe. Every time someone gets their scamcoin accepted on an exchange that offers to exchange it for bitcoin, they dump the scamcoin for bitcoin then dump the bitcoin for fiat, thus driving down bitcoin prices... Maybe?

-MarkM-

Yes Mark, exactly the same thing. 

I create an altcoin convince lots of people to buy it, and then dump the BTC.  Big winner me, bit loser BTC and the bag holders.  Same ole story, different place. 

[kennyP]

That makes sense to me.

Like scamcoins in general affecting bitcoin, maybe. Every time someone gets their scamcoin accepted on an exchange that offers to exchange it for bitcoin, they dump the scamcoin for bitcoin then dump the bitcoin for fiat, thus driving down bitcoin prices... Maybe?

-MarkM-

Yes Mark, exactly the same thing.  

I create an altcoin convince lots of people to buy it, and then dump the BTC.  Big winner me, bit loser BTC and the bag holders.  Same ole story, different place.  

we'll all know soon enough. once instantDEX rolls out I expect everything to flip around. right now, nxt hodlers and asset buyers/traders are the same people, so the NXT ecosystem pie IS growing larger everyday, but the portion for NXT token itself gets smaller with every new asset. That won't always be the case.

Soon we will see the early effects of what jl777 dubbed 'the anomaly' - eventually NXT token will start acting in its intended roll, as the token and unit of account for the NXT ecosystem. When that happens asset holders and NXT holders won't all be the same people, and when that happens NXT will suddenly be much more scarce, like a game of musical chairs - less NXT compared to the marketcap of assets.

Today most NXT hodlers are quite happy to see NXT flatline or drop slightly because their net wealth in assets is going up, so there's no sense of panic. In my case in NXT terms I'm down about 20-30%, but when I include assets I'm ahead by over 100%. Once new people start issuing assets the 'anomaly' will start (the number of chairs gets a lot smaller compared to the number of players in the musical chairs) NXT will rise together with assets.

Not to be impolite but NXT is a 'circle jerk', but the tech is so powerful, and the community so impressive that new entrants are about to start issuing assets. Once the circle jerk phase ends (i.e. NXT hodlers and asset hodlers are different people), things will appear very different.

[RaginglikeaBoss]

NXT is crashing because people are slowly discovering that whatever value proposition NXt had can also be implemented by Bitcoin. There is no purpose for NXT to exist, thus there is no one holding it.

I don't think so. Of course many things (I'd say almost everything) can be implemented by bitcoin, but that will take ages. Just take a look at Ethereum, it still in early beta. Mastercoin? It's dead. Counterparty is the only meaningful system with some similar features, but still not as feature rich as NXT. On the contrary all the promised or existing features of these 2.0 coins are already working in NXT.

What are they ? The only useful thing I see would be a decentralized marketplace. As far as I know NXT has it but the servers hosting it centralize so its not completely decentralized and as soon as OpenBazaar is out it will be rendered useless.

You have it backwards.

The Asset Exchange and Marketplace and all Nxt core features are part of the blockchain, they are decentralized as it is part of all nodes running the Nxt software and maintaining a Nxt blockchain.


I am reliably informed OpenBazaar isn't decentralized, it is peer-to-peer. This means as soon as someone stops running their node, their items and orders disappear (in the same way as a torrent works, turn off your client and you stop seeding. This means if the server can be identified, your store is vulnerable to being shut down).


As long as a Nxt client is running somewhere, all current orders and transactions are preserved in the blockchain.

Other features:

Decentralized Ebay >>> nxtfreemarket.com
A version of sidechains >>> Monetary System (coins secured within Nxt's POS network)
Decentralized internet >>> Hyperboria
File sharing plugin (torrents) >>> Nxtor/File Sharing/Nxt Torrent (name pending)
+Others

You can play with any of these today within a few clicks of this forum.

Edited: widen the scope of my answer

I completely agree with you.  I really enjoy NXT, but I stopped holding it simply because no one uses the marketplace it seems.  Most people with NXT are holders or are simply day traders.  And the day traders have been bailing over time (including myself).  Because the value just keeps dropping.

I hope this changes but as of now NXT feels like LaserDisc.  It was the most superior technology available for consumers at the time, but VHS crushed it.  I feel that NXT and its features are the future of cryptocurrencies but I think it will take a long time for it to grow, aka only after cryptocurrencies enter mainstream markets in a sizable amount.

[EvilDave]

Being an old bastard, I can remember the video format wars of the late 70's/early 80's....LaserDisc was never a real contender, simply because of the lack of recording functionality. VHS came (ooer!) out on top for one simple reason: cheap (comparatively) VHS cameras and editing gear revolutionised the porn industry and porn then dragged VHS with it to the moon.

Betamax was the superior system in many ways, and was still used until recently in professional applications, but the cost barrier for Betamax cameras prevented it going mainstream in the same way that VHS did.

What does this mean for NXT ? If we apply the lessons of VHS vs Betamax, it's not always the most advanced system that will come out on top. The system that offers the right amount of functionality to the consumer at an affordable price probably has a much better chance of success. Sounds like NXT to me.
(and we really should get into bed with the porn industry...... )

[jabo38]

Being an old bastard, I can remember the video format wars of the late 70's/early 80's....LaserDisc was never a real contender, simply because of the lack of recording functionality. VHS came (ooer!) out on top for one simple reason: cheap (comparatively) VHS cameras and editing gear revolutionised the porn industry and porn then dragged VHS with it to the moon.

Betamax was the superior system in many ways, and was still used until recently in professional applications, but the cost barrier for Betamax cameras prevented it going mainstream in the same way that VHS did.

What does this mean for NXT ? If we apply the lessons of VHS vs Betamax, it's not always the most advanced system that will come out on top. The system that offers the right amount of functionality to the consumer at an affordable price probably has a much better chance of success. Sounds like NXT to me.
(and we really should get into bed with the porn industry...... )

Hi Dave.  I guess you are older than me :-) but, I didn't think it had much to do with quality or price.  I thought it all came down to VHS was very friendly to the porn industry and Betamax wasn't.  Guess who won? hahahaha.  That porn bump was enough to make the mainstream eventually adopt it.  

We all know that the porn of crypto is the Silk Road and that was instrumental from taking BTC from a geeky thing for nerds, to it actually getting used, and then came gambling on Satoshi Dice.  

So I guess that NXT (or any other crypto) will have to find its "porn".  But it doesn't necessarily have to be a bad type of thing, it could be using the coin for charities like BTC did with Wikileaks, or maybe remittance, or international sales, video games, or something we haven't even thought of yet.  Some kind of something though that keeps a platform alive long enough for mass adaption to take place.  

[jabo38]

we'll all know soon enough. once instantDEX rolls out I expect everything to flip around. right now, nxt hodlers and asset buyers/traders are the same people, so the NXT ecosystem pie IS growing larger everyday, but the portion for NXT token itself gets smaller with every new asset. That won't always be the case.

Soon we will see the early effects of what jl777 dubbed 'the anomaly' - eventually NXT token will start acting in its intended roll, as the token and unit of account for the NXT ecosystem. When that happens asset holders and NXT holders won't all be the same people, and when that happens NXT will suddenly be much more scarce, like a game of musical chairs - less NXT compared to the marketcap of assets.

Today most NXT hodlers are quite happy to see NXT flatline or drop slightly because their net wealth in assets is going up, so there's no sense of panic. In my case in NXT terms I'm down about 20-30%, but when I include assets I'm ahead by over 100%. Once new people start issuing assets the 'anomaly' will start (the number of chairs gets a lot smaller compared to the number of players in the musical chairs) NXT will rise together with assets.

Not to be impolite but NXT is a 'circle jerk', but the tech is so powerful, and the community so impressive that new entrants are about to start issuing assets. Once the circle jerk phase ends (i.e. NXT hodlers and asset hodlers are different people), things will appear very different.

I pretty much agree with all that too.  It is interesting because no coin has really made the jump from speculative asset to currency, and like wise no 2.0 platform coin has made the jump from speculative asset to platform transaction token. 

NXT has the most features of any crypto and has a lot of people building on it, so it is probably the closest in my opinion.  It'll be very interesting if it is pulled off. 

[TaunSew]

Being an old bastard, I can remember the video format wars of the late 70's/early 80's....LaserDisc was never a real contender, simply because of the lack of recording functionality. VHS came (ooer!) out on top for one simple reason: cheap (comparatively) VHS cameras and editing gear revolutionised the porn industry and porn then dragged VHS with it to the moon.

Betamax was the superior system in many ways, and was still used until recently in professional applications, but the cost barrier for Betamax cameras prevented it going mainstream in the same way that VHS did.

What does this mean for NXT ? If we apply the lessons of VHS vs Betamax, it's not always the most advanced system that will come out on top. The system that offers the right amount of functionality to the consumer at an affordable price probably has a much better chance of success. Sounds like NXT to me.
(and we really should get into bed with the porn industry...... )

Your analogy is not an appropriate scale.  At least the deemed "failure" Betamax sold 18 million machines.  Bitcoin, according to the Federal Reserve, is only 100,000 users after 6 years (what does that make Bitcoin?) and currently websites like Google Trends and Alexa Rank indicates Bitcoin is losing popularity too.


Honest it's not even a Bitcoin vs NXT thing.  Somebody could literally make an inferior version of Bitcoin and if they had the right connections, marketing and presence on the correct TV shows, they would go viral and it wouldn't take 6 years, wouldn't take 1 year, but only weeks or maybe months to acquire more users than Bitcoin.  If Caitlyn Jenner can get 1 million followers in 4 hours on twitter, anything new can acquire millions of users with the right publicity.

[Nxtblg]

the ones that already invested in it say it's a great coin.

of course

Yes, very true, but that fact does point to the question of why they bought in the first place.

[EvilDave]

Being an old bastard, I can remember the video format wars of the late 70's/early 80's....LaserDisc was never a real contender, simply because of the lack of recording functionality. VHS came (ooer!) out on top for one simple reason: cheap (comparatively) VHS cameras and editing gear revolutionised the porn industry and porn then dragged VHS with it to the moon.

Betamax was the superior system in many ways, and was still used until recently in professional applications, but the cost barrier for Betamax cameras prevented it going mainstream in the same way that VHS did.

What does this mean for NXT ? If we apply the lessons of VHS vs Betamax, it's not always the most advanced system that will come out on top. The system that offers the right amount of functionality to the consumer at an affordable price probably has a much better chance of success. Sounds like NXT to me.
(and we really should get into bed with the porn industry...... )

Your analogy is not an appropriate scale.  At least the deemed "failure" Betamax sold 18 million machines.  Bitcoin, according to the Federal Reserve, is only 100,000 users after 6 years (what does that make Bitcoin?) and currently websites like Google Trends and Alexa Rank indicates Bitcoin is losing popularity too.


Honest it's not even a Bitcoin vs NXT thing.  Somebody could literally make an inferior version of Bitcoin and if they had the right connections, marketing and presence on the correct TV shows, they would go viral and it wouldn't take 6 years, wouldn't take 1 year, but only weeks or maybe months to acquire more users than Bitcoin.  If Caitlyn Jenner can get 1 million followers in 4 hours on twitter, anything new can acquire millions of users with the right publicity.

Yep, so I'd be quite happy if Nxt follows Betamax: 25 years of dominance in the professional market would suit me fine.
And if we can ever figure out how to harness Kardashian power for crypto.....maybe we need a reality show. 
"Coming soon on the History Channel: The NXT Files"

[Nxtblg]

Not to be impolite but NXT is a 'circle jerk', but the tech is so powerful, and the community so impressive that new entrants are about to start issuing assets. Once the circle jerk phase ends (i.e. NXT hodlers and asset hodlers are different people), things will appear very different.

Actually, that so-called circle jerk is a blessing in disguise right now. How many hard forks have there been over the past year? Virtually all of them were necessitated by new features in the core. Had Nxt been widespread as of now, organizing each hardfork would be a logistical nightmare - and each carries the risk of outside-the-loop people complaining about their nodes "not working anymore." Not to the Nxt forum or here, but to the wide wide world of the Internet.

Look at Bitcoin. Why do you think the devs are so leery of hardforking even for a needed innovation like increasing the block size? It's because of that logistical/bad-publicity nightmare: it's a very real downside.

So...at this stage of Nxt's life, the more tightly-knit the community the better. It makes those regular (innovation-driven) hardforks straightforward to organize, while minimizing the reputation-management implications of people complaining to all and sundry when their outdated clients no longer work. I'm sure that every Nxter - including the impatient ones - will be durn glad of the 'circle jerk' phase when Nxt finally penetrates the wider world in a big way.

Plus: the slow adoption rate gives us time to establish solid conventions - even traditions - that govern actions on trust-dependent features like the Asset Exchange. Yes, there have been scams therein: I was burned by a couple of them before I wised up. But keep in mind that the overall rate of scammy Assets is much lower in the Nxt ecosystem than the scam rate in the Bitcoin ecosystem. Granted it's in part because Nxt came afterwards, affording Nxters the luxury of learning from the mistakes of the Bitcoin ecosystem. But it's also a result of that tight-knit community, wherein grizzed/scarred vets are listened to. As a result, Nxt's ecosystem is actually less dirty, scam-wise, than Bitcoin's. Again, the credit belongs to the 'circle jerk' nature of Nxt's community.

[box0214]

Not to be impolite but NXT is a 'circle jerk', but the tech is so powerful, and the community so impressive that new entrants are about to start issuing assets. Once the circle jerk phase ends (i.e. NXT hodlers and asset hodlers are different people), things will appear very different.

Actually, that so-called circle jerk is a blessing in disguise right now. How many hard forks have there been over the past year? Virtually all of them were necessitated by new features in the core. Had Nxt been widespread as of now, organizing each hardfork would be a logistical nightmare - and each carries the risk of outside-the-loop people complaining about their nodes "not working anymore." Not to the Nxt forum or here, but to the wide wide world of the Internet.

Look at Bitcoin. Why do you think the devs are so leery of hardforking even for a needed innovation like increasing the block size? It's because of that logistical/bad-publicity nightmare: it's a very real downside.

So...at this stage of Nxt's life, the more tightly-knit the community the better. It makes those regular (innovation-driven) hardforks straightforward to organize, while minimizing the reputation-management implications of people complaining to all and sundry when their outdated clients no longer work. I'm sure that every Nxter - including the impatient ones - will be durn glad of the 'circle jerk' phase when Nxt finally penetrates the wider world in a big way.

Plus: the slow adoption rate gives us time to establish solid conventions - even traditions - that govern actions on trust-dependent features like the Asset Exchange. Yes, there have been scams therein: I was burned by a couple of them before I wised up. But keep in mind that the overall rate of scammy Assets is much lower in the Nxt ecosystem than the scam rate in the Bitcoin ecosystem. Granted it's in part because Nxt came afterwards, affording Nxters the luxury of learning from the mistakes of the Bitcoin ecosystem. But it's also a result of that tight-knit community, wherein grizzed/scarred vets are listened to. As a result, Nxt's ecosystem is actually less dirty, scam-wise, than Bitcoin's. Again, the credit belongs to the 'circle jerk' nature of Nxt's community.

i must agree with this... having nxt named after wrestling and lego.. might actually be a good thing.

[EvilDave]

It certainly means that there are a lot of Lego and wrestling fans who are wondering wtf this crypto-currency business is all about.....

+1 to Nxtblg, makes a lot of sense.

[Sebastien256]

It certainly means that there are a lot of Lego and wrestling fans who are wondering wtf this crypto-currency business is all about.....

+1 to Nxtblg, makes a lot of sense.

I remember that a Nxt lego fan register on the Nxt forum and asked for a lego plan sometime last year. He was surprised to find that where he register was in fact a cryptocurrency community. This moment was hilarious.

[Zer0Sum]

Isnt NXT price decline solely by selling pressure from original whales? All that needs to happen is them stop selling. NXT has tech, projects, community, there is no reason to be declining. Everytime there was some big news or new feature, there was always dip in price, because whales where trying to cash out on big volumes. Coins have to change hands, than price will go up.

I'm suspicious that it is actually the NXT AE that is killing the price. It seems like the success of AE has been inversely related to the NXT marketcap.  

Now that sounds counter intuitive, but one scenario could explain it.  If people are creating assets on NXT and then transferring them off market direction for BTC, but then when those get sold, they get sold for NXT on AE and then dumped.  

So for instance, I create a "jabohld" asset.  And it has 1,000,000 units.  And then I tell CfB that I will give him 10% if he sends me 50 btc to my btc account.  He does and then I send him 10% off AE market.  Later on CfB gets involved in Jinn and needs some cash.  He can't just try to find somebody to buy those directly for btc, but he can sell them on AE dumping them.  He then takes all the NXT he got and then dumps it.  This is one scenario where value bleeds directly out of the NXT ecosystem killing the market cap out of the success or pump of AE assets.  

Now I don't have any proof this happened.  It is just a theory of mine to try to explain the strange phenomena where NXT marketcap goes down while at the same time as the AE asset sum total marketcap continually goes up.  It might also be said that the exact opposite scenario could also be true.  In which case assets could be pumping the marketcap, but I find the theory way more likely that it is hurting, especially if there are questionable and shady assets.  The reason why is that a shady asset would be far more likely to leach money out of the NXT marketcap than a good one.  Lots of money their to be reaped by a good scammer.  

Nice that you thought this through... but it's the latter...
The value of the zero revenue NXT Asset Bubbles has kept the value of NXT afloat for the last year...
While the former "dumping" scenario is not realistic because NXT AE is illiquid ($10,000/day in the Top 50 Assets total).

Assumption:  One can sell all Assets on the Nxt AE for NXT at a single point in time.

If one accepts even a rough version of the Assumption...
Then the NXT ecosystem can be viewed as a Balance Sheet (I did this one 2-3 months ago).



When documented (or hyped) revenues actually start rolling in (InstantDEX, etc)...
Many Asset values will rise dramatically... and since both sides of Balance Sheet must be equal... NXT will rise...
If fact, even a few millions $$$ of revenue (real or hyped) could push NXT 500-1000% higher quickly.

With people willing to throw money at anything with a pulse... more NXT big moves are almost inevitable...
And you don't have to pick the right Assets... just load up on NXT, baby.

If fact, during the course of the recent 30 day rally NXT has risen about 40%...
Which pretty much mirrors or surpasses the rise of key Assets like SuperNET and InstantDEX and Jinn and BTCD.