Bitcoin Forum
September 23, 2018, 01:16:52 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
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 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 ... 146 »
  Print  
Author Topic: [ANN] Nxt :: descendant of Bitcoin  (Read 364412 times)
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 03, 2013, 06:06:34 PM
 #401

Ten pages ago I wrote this

Let's try to do it such way

1]  Post here a link to your webpage (facebook, twitter, blog) that spreads the word about Nxt.
2]  Publish your Nxt account id.
3]  Wait for some coins from a donation pool after Nxt is launched.

I will set up the donation pool account right after the launch.

This is still actual.
Einax Airdrops and Bounties made easy! List your ERC-20 token
FREE
ETH markets launching soon!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537708612
Hero Member
*
Offline Offline

Posts: 1537708612

View Profile Personal Message (Offline)

Ignore
1537708612
Reply with quote  #2

1537708612
Report to moderator
1537708612
Hero Member
*
Offline Offline

Posts: 1537708612

View Profile Personal Message (Offline)

Ignore
1537708612
Reply with quote  #2

1537708612
Report to moderator
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 03, 2013, 06:19:15 PM
 #402

By the way, in addition to decentralized DNS Nxt will have decentralized file storage.  Nxt client will be hosted on the blockchain, updates will be published from my Nxt account (the same as the generator of the genesis block).  I hope my Nxt stake will be enough to push all planned updates.  The current version takes the same volume as 1280 payment transactions, that can be quite expensive to pay fees for storing 160 KiB.
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 03, 2013, 07:09:19 PM
 #403

At the moment  ~52,631,578 NXT for 1 BTC.
klee
Legendary
*
Offline Offline

Activity: 1498
Merit: 1000



View Profile
November 03, 2013, 08:08:04 PM
 #404

At the moment  ~52,631,578 NXT for 1 BTC.
I had send 0.63BTC - I want to fill up to 1BTC.
What is the way to proceed? Shall I use the same phrase for the hash or a new one?
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 04, 2013, 03:36:14 AM
 #405

Better to use the same phrase.
snailbrain
Legendary
*
Offline Offline

Activity: 1638
Merit: 1003



View Profile
November 04, 2013, 04:57:26 AM
 #406

Here is an announcement of decentralized DNS -- https://bitcointalk.org/index.php?topic=323909.0

good luck with the project

with namecoin - you don't need to use browser plugins so you should probably edit that part out..
all you need is a DNS that supports namecoin..  you can run NMControl or other tools to do it all locally for complete trustlessness (it's a word?).. if you trust an external namecoin dns server, like Khal's, you can do a simple setup by using a browser plugin (this is maybe what you are talking about?)

██████████████████            ██████████
████████████████              ██████████
██████████████          ▄█   ███████████
████████████         ▄████   ███████████
██████████        ▄███████  ████████████
████████        ▄█████████  ████████████
██████        ▄███████████  ████████████
████       ▄██████████████ █████████████
██      ▄███████████████████████████████
▀        ███████████████████████████████
▄          █████████████████████████████
██▄         ▀███████████████████████████
████▄        ▀██████████████████████████
██████▄        ▀████████████████████████
████████▄        ████████████████▀ █████
██████████▄       ▀█████████████  ██████
████████████▄       ██████████   ███████
██████████████▄      ▀██████    ████████
████████████████▄▄     ███     █████████
███████████████████▄    ▀     ██████████
█████████████████████▄       ███████████
███████████████████████▄   ▄████████████





▄█████████████████   ███             ███   ███   ███▄                ▄███            █████            ████████████████   ████████████████▄             █████
███▀                 ███             ███   ███   ████▄              ▄████           ███████           ███                ███           ▀███           ███████
███                  ███             ███   ███   █████▄            ▄█████          ███▀ ▀███          ███                ███            ███          ███▀ ▀███
███                  ███             ███   ███   ███ ███▄        ▄███ ███        ▄███▀   ▀███▄        ███                ███           ▄███        ▄███▀   ▀███▄
███                  ███████████████████   ███   ███  ▀██▄      ▄██▀  ███       ▄███▀     ▀███▄       ████████████████   ████████████████▀        ▄███▀     ▀███▄
███                  ███             ███   ███   ███   ▀███    ███▀   ███      ▄███▀       ▀███▄      ███                ███        ███          ▄███▀       ▀███▄
███                  ███             ███   ███   ███    ▀███  ███▀    ███     ▄███▀         ▀███▄     ███                ███         ███        ▄███▀         ▀███▄
███▄                 ███             ███   ███   ███      ██████      ███    ▄███             ███▄    ███                ███          ███      ▄███             ███▄
▀█████████████████   ███             ███   ███   ███       ████       ███   ▄███               ███▄   ████████████████   ███           ███    ▄███               ███▄

|
  TRUE BLOCKCHAIN GAMING PLATFORM 
DECENTRALISED AUTONOMOUS UNIVERSES

  HOME PAGE                                                                  WHITE PAPER 
|
cunicula
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1003


GOeureka.io


View Profile
November 04, 2013, 05:35:59 AM
 #407

https://bitcointalk.org/index.php?topic=297147.0

Would you consider implementing the hop protocol. It is a radical modification.

Similar goals to bitshares and mastercoin, but hop will actually work. Bitshares and mastercoin are failures in progress.

I think you need hop to oust bitcoin from the leaderboard. Lock-in is significant now. Marginally superior tech will lose to the incumbent, bitcoin.

Offer anything less than hop and you will be competing for second place. Why not aim higher?

BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 04, 2013, 07:27:52 PM
 #408

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.
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 04, 2013, 07:33:23 PM
 #409

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.
snailbrain
Legendary
*
Offline Offline

Activity: 1638
Merit: 1003



View Profile
November 04, 2013, 11:11:49 PM
 #410

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.

that will be interesting: how you will be able to open the nxt-links without having to trust anybody, without any utilities or plugins

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

will keep watching Smiley



██████████████████            ██████████
████████████████              ██████████
██████████████          ▄█   ███████████
████████████         ▄████   ███████████
██████████        ▄███████  ████████████
████████        ▄█████████  ████████████
██████        ▄███████████  ████████████
████       ▄██████████████ █████████████
██      ▄███████████████████████████████
▀        ███████████████████████████████
▄          █████████████████████████████
██▄         ▀███████████████████████████
████▄        ▀██████████████████████████
██████▄        ▀████████████████████████
████████▄        ████████████████▀ █████
██████████▄       ▀█████████████  ██████
████████████▄       ██████████   ███████
██████████████▄      ▀██████    ████████
████████████████▄▄     ███     █████████
███████████████████▄    ▀     ██████████
█████████████████████▄       ███████████
███████████████████████▄   ▄████████████





▄█████████████████   ███             ███   ███   ███▄                ▄███            █████            ████████████████   ████████████████▄             █████
███▀                 ███             ███   ███   ████▄              ▄████           ███████           ███                ███           ▀███           ███████
███                  ███             ███   ███   █████▄            ▄█████          ███▀ ▀███          ███                ███            ███          ███▀ ▀███
███                  ███             ███   ███   ███ ███▄        ▄███ ███        ▄███▀   ▀███▄        ███                ███           ▄███        ▄███▀   ▀███▄
███                  ███████████████████   ███   ███  ▀██▄      ▄██▀  ███       ▄███▀     ▀███▄       ████████████████   ████████████████▀        ▄███▀     ▀███▄
███                  ███             ███   ███   ███   ▀███    ███▀   ███      ▄███▀       ▀███▄      ███                ███        ███          ▄███▀       ▀███▄
███                  ███             ███   ███   ███    ▀███  ███▀    ███     ▄███▀         ▀███▄     ███                ███         ███        ▄███▀         ▀███▄
███▄                 ███             ███   ███   ███      ██████      ███    ▄███             ███▄    ███                ███          ███      ▄███             ███▄
▀█████████████████   ███             ███   ███   ███       ████       ███   ▄███               ███▄   ████████████████   ███           ███    ▄███               ███▄

|
  TRUE BLOCKCHAIN GAMING PLATFORM 
DECENTRALISED AUTONOMOUS UNIVERSES

  HOME PAGE                                                                  WHITE PAPER 
|
cunicula
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1003


GOeureka.io


View Profile
November 05, 2013, 12:07:10 AM
 #411

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.

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.

BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 05, 2013, 07:51:17 AM
 #412

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.
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 05, 2013, 07:53:14 AM
 #413

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?
cunicula
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1003


GOeureka.io


View Profile
November 05, 2013, 10:39:39 AM
 #414

Quote from: BCNext

Won't the concept work if I get rid of demurrage?
Suppose you issue an asset backed by nxt. There are three key questions:

Q1) What determines the price of the asset in terms of nxt?
A1) proof-of-stake voting; nxt owners have an incentive to report prices honestly because this increases the valu/usefulness of nxt.

Q2) Where does the nxt backing the asset come from?
A2) Assets are backed by the entire market capitalization of nxt.

Q3) What determines the amount of assets issued?
A3) The variable interest/demurrage ensures a stable supply as a percentage of market cap.

The interest/demurrage is  important for the following reasons:
a) if too many assets are issued the system can become insolvent provoking a bank-run. (demurrage prevents overissuance.)
b) if too few assets are issued, then the assets will be too scarce to be useful for txn purposes. Markets for the assets will be illiquid. (This is particularly important during bootstrapping.  Without interest, there is not going to be any incentive to hold the assets. You would either want Nxt or you would want the real assets. Interest encourages people to hold the assets dewpite their increased risk relative to the real thing.)

BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 05, 2013, 11:18:04 AM
 #415

I think I should hire someone to translate your whitepaper to a normal language understandable by an average person...
klee
Legendary
*
Offline Offline

Activity: 1498
Merit: 1000



View Profile
November 05, 2013, 12:05:19 PM
 #416

I think I should hire someone to translate your whitepaper to a normal language understandable by an average person...
LMAO I feel so stupid here some times!
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 07, 2013, 06:32:16 AM
 #417

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".
R160K
Newbie
*
Offline Offline

Activity: 18
Merit: 0


View Profile
November 07, 2013, 09:33:53 AM
 #418

This project could be really interesting - especially the way that rather than "starting again" like most altcoins, it works by "transferring" existing bitcoins onto a new, more feature-rich chain. A couple of things I would like to ask/points I would like to make however:

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?

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. 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.

Additionally, though I appreciate yours is only the second such system, is directly competing (at the moment) against Namecoin really a good idea? Namecoin right now is massively underdeveloped and underused, and offering an alternative at this stage could not only split developers and users between the projects, but would also decrease the value of NMC (because if R160K.bit was already taken, you could just buy R160K.nxt) and thus lessen interest. Although I feel competition is a good thing for crypto-development, I think it would be best to try and get Namecoin realising its full potential to get a feel for what's possible with decentralised DNS before competing away its users and developers. After all, DNS is different than coins: an altcoin directly competes AGAINST bitcoin as a potential store of value; but two DNS systems can complement each other: it is not a strict either/or whether to buy R160K.bit or R160K.nxt, you could have both if you wished; therefore, waiting for Namecoin to come along much further will not necessarily reduce the likelihood of people using NXT for domain names if it's implemented the future.

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.

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"?
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 07, 2013, 11:11:19 AM
 #419

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.
BCNext
Jr. Member
*
Offline Offline

Activity: 56
Merit: 3


View Profile
November 07, 2013, 02:39:24 PM
 #420

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).
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 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 ... 146 »
  Print  
 
Jump to:  

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!