NXT :: descendant of Bitcoin - Updated Information

[Bitventurer]

sending them to genesis  is ridiculous )))  , why not hire some coders, build soft, exchanges.. and so on...

by the way how s the white paper doing ? is somebody working on it?
have we found some cryptographer to check the code?when will the code be open?

[Uniqueorn]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

[dzarmush]

But destroy the money?

Let's assume there were 1Bil - 10M coins in the genesis.
What's changing?

Sending coins to the genesis increases value of the other coins. So big stakeholders get more benefit.

That is no benefit. it is short sighted, stupid and a funding and PR nightmare. What are we to tell people when they ask about the destruction of 1% of the currency? "Oh, it increased the value of nxt holders. It's a good thing." And what are you to tell those that you would expect a donation or bounty from? "Well we had 10mil Nxt, but couldn't come to a consensus so we burned it... but we need your donation." Good luck with that.


EDIT: Frankly I am completely dumbfounded that burning these 10mil Nxt is even being discussed.

It's like Jobs and Woz seating in the garage and discussing future of Apple:
— We've got $10'000, shoud we use it for improving our computer?
— Nah, burn the fucking money

Pin's version:
— We've got $10'000, shoud we use it for improving our computer?
— Will your dad give us $20'000 more if we use our $10'000
— No
— Then burn the fucking money

[pinarello]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

blocking accounts is a precedent, NXT we will vote to block surten accounts. cooool

[pinarello]

But destroy the money?

Let's assume there were 1Bil - 10M coins in the genesis.
What's changing?

Sending coins to the genesis increases value of the other coins. So big stakeholders get more benefit.

That is no benefit. it is short sighted, stupid and a funding and PR nightmare. What are we to tell people when they ask about the destruction of 1% of the currency? "Oh, it increased the value of nxt holders. It's a good thing." And what are you to tell those that you would expect a donation or bounty from? "Well we had 10mil Nxt, but couldn't come to a consensus so we burned it... but we need your donation." Good luck with that.


EDIT: Frankly I am completely dumbfounded that burning these 10mil Nxt is even being discussed.

It's like Jobs and Woz seating in the garage and discussing future of Apple:
— We've got $10'000, shoud we use it for improving our computer?
— Nah, burn the fucking money

Pin's version:
— We've got $10'000, shoud we use it for improving our computer?
— Will your dad give us $20'000 more if we use our $10'000
— No
— Then burn the fucking money

dzarmhus you must stop getting personal here. what is the matter with you!

read what I have written in stead of telling people what "I" have proposed, it was posing a posibility, did I say to do it that way? does it reflect what I should do?

NO


Pin

[bitcoinpaul]

I don't see what the rush is to distribute the 10 million Nxt, is there a specific reason? In addition, if the individuals are trusted, why would the code need to be changed just to accommodate them? This just doesn't make sense, perhaps I am misunderstanding?

We need features, and to make features we need developers, this is where the Nxt or Nxt>BTC should be spent (or atleast 80% of it). All the hoopla regarding Nxt has died down now and I believe we have reached critical mass in the Bitocointalk community as shown be the diminishing accounts being created everyday. Everyone that is here now and participating is obviously committed, so I can say for sure we have a strong community of Nxt'ers.

The next milestone will be general public adoption, at least the general crypto community and for that we need a rock solid client that hopefully supports forging and a reliable network. In my opinion, being second generation, we need to get to the point where this can be run securely on a mobile phone (transaction and forging) - to me - that is second generation, but that can come down the road as we have plenty to work on regarding the core of Nxt.

All this talk about marketing is great, I work in that space, however, it is not needed at this time and perhaps never will be. All energy and funds (if needed) need to go to development, at least in the next couple of weeks.

I vote that the majority of funds either be dedicated to development or destroyed.

The same again. What do you mean by "dedicated to development"? Do you have something in mind? Then share with the community and suggest a bounty and the community will vote for it.

Also what's the use of destroing the coins? That's fucking crazy. Even two payments of 5M to Cryptsy and BTC-E owners will be way better then destroying them.

But I do agree with the first part. Changing the code just for that reason is maddnes. Don't developers have something more important to do? Why the hell we need this commity at all? Let the coins stay were they are now and focus on ideas for development and promotion.

I can almost guarantee that the account locks is a new feature.  He wouldn't change the code for bounty Nxt distribution.  Anyway, I'm grateful he is providing 10M, he doesn't have to do that, and we can get on with out it if needed.

• Don't send them to genesis account. How stupid is that? Use them for bounties! Jesus. Are you out of your mind?
• Account locking will be developed in the (i hope near) future, so why don't we wait until this happens? Until then, we move along as always
• Hardcoding this stuff in the core code is an easy target for trolls. Don't do it

[Come-from-Beyond]

Does anyone see zombie activity? I need to collect stats for project "Kharon", but I see only legit peers.

[dzarmush]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

blocking accounts is a precedent, NXT we will vote to block surten accounts. cooool

I wouldn't block anything at all. There is no problem to find 10 trusted people.

[firl21]

couple of quick questions before i put my rig on nxt coin
1. What type of coin is this, it says not scrypt, but its dosent say sha 256. Would asics work or would graphics cards work
2. What is this traded on
3. what is the market adoption of this so far?
4. current NXT/BTX and NXT/USD?

[swartzfeger]

Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

This needs to be emphasized.

Modifying code is terrible, but so is tossing 10 million NXT.

Save 8 for future development, give 2 to someone trusted like Salsacz and/or Uniqueorn and start letting the PR guys have some fun.

I understand (and agree) with the reluctance to promote something that isn't quite ready, but developing campaigns isn't instantaneous, either. Giving the PR guys some funds will help them maintain and keep the teams they've already built and hopefully have some great stuff ready for when Nxt starts hitting its stride.

[Come-from-Beyond]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

[swartzfeger]

couple of quick questions before i put my rig on nxt coin
1. What type of coin is this, it says not scrypt, but its dosent say sha 256. Would asics work or would graphics cards work
2. What is this traded on
3. what is the market adoption of this so far?
4. current NXT/BTX and NXT/USD?

First:  http://wiki.nxtcrypto.org

1. Neither. It's a next generation coin (hence, 'Nxt')
2. http://wiki.nxtcrypto.org/wiki/Exchanges
3. 0 (for now).
4. See exchanges (basically, 1 NXT = .03 USD)

You've got a few weeks (max) before the train leaves the station

[Come-from-Beyond]

That's funny.

I decided to create a throw-away account to test the code, as a passphrase I used the very 1st thing that caught my attention - "http://localhost:7874/" in the browser address field. Can u imagine, this account had some coins on the balance!

[landomata]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I say you keep the funds and we keep running these contest....seems to be working....if they want funding enter the contest if they create something good then they win the funding....not need to spend money if the work will not be done or be wasted.


SO....my idea: EACH MONTH....for the next ten months we spend 1 million NXT.

Contest: Can be marketing plans, PR plans, Client, Websites, Plans to further Nxt growth, etc.

LOOK HOW THE AM CONTEST IS MOTIVATING PEOPLE.

[swartzfeger]

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I would sleep much, much better knowing that there will be no code change. Why 10 though -- is it an arbitrary number? Why not 5, or 15? Is it mostly to keep things simple and divisible?

[Come-from-Beyond]

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I would sleep much, much better knowing that there will be know code change. Why 10 though -- is it an arbitrary number? Why not 5, or 15? Is it mostly to keep things simple and divisible?

I think it's BCNext's symbolism manifestation. 10M is a round number and exactly 1% of the total stake.

PS: I recall a gap in NRS versions, when 0.2.14 followed 0.2.12, without 0.2.13 in between.

[swartzfeger]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I say you keep the funds and we keep running these contest....seems to be working....if they want funding enter the contest if they create something good then they win the funding....not need to spend money if the work will not be done or be wasted.


SO....my idea: EACH MONTH....for the next ten months we spend 1 million NXT.

Contest: Can be marketing plans, PR plans, Client, Websites, Plans to further Nxt growth, etc.

LOOK HOW THE AM CONTEST IS MOTIVATING PEOPLE.

I agree with landomata -- status quo has been working fine... I'm not sure why there's a rush to make a decision on this.

For the first month, I propose giving 1 mil to the PR group/liaison/ambassador(s). They've received little to nothing, and we've all individually spent our own money on projects.

[pinarello]

How we going to pay for further development and promotion of NXT when 10M is gone?

Spending and administer that 10M is the easiest part, but then what?

Long term, short term…

Any ideas, plans, visions?


Pin

[dzarmush]

dzarmhus you must stop getting personal here. what is the matter with you!
read what I have written in stead of telling people what "I" have proposed, it was posing a posibility, did I say to do it that way? does it reflect what I should do?
NO

I've read again. Twice. It wasn't clear what do you suggest at first.

"I propose use the 10M for further development or send them back to genesis block.". What can we do with the coins except development? Build our own luna park with blackjack and hookers? Btw I'd prefer that instead of destoying the coins. At least it's a fun.

[dzarmush]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

Love it.