NXT :: descendant of Bitcoin - Updated Information

[jkoil]

about voting, at least three known ways to vote:

1. every individual has 1 vote     (analogy to NXTsystem: 1 account = 1 vote)
2. every share      has 1 vote     (                                1 NXT      = 1 vote)
3. every "skill"      has x votes    (                      ? ? ? ?                            )

The example for the 3rd one is from groups, where skilled people, experts had
more weight in their votes than others.


In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.
Just NXTs and accounts. Unless there will be built a method to give identifications
to accounts (...which cannot be gamed:).



Which one is better? The 1st or the 2nd?

The 2nd is suitable for economical issues, which concerns the owned wealth.  
E.g. companies' general meetings, where is decided company's future plans:
the people who own more shares, they own bigger part of the company, and so they
have more votes.
But is NXTsystem a company, which can be owned?


The 1st is suitable for non-economical issues.
In NXTsystem it has the problem of "splitted accounts".
How splitted accounts could be rejected or at least made more uncomfortable?

  - require forging
  - require at least 1 NXT in account (then splitting would cause some costs)
  - ...

[1714221240]

1714221240

[1714221240]

1714221240

[bitcoinpaul]

Everyone calm down, please. And Europeans: go to bed now. Thank you.

We will have many spots... Let's try different things!

[jl777]

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

[pandaisftw]

revision 2 (tell me if im getting closer)

Ready for whats next? Written from the ground up with brand new source code, nxt is the first truely second generation crypto. By melding short term predictibility with longer term uncertanty, nxt's 100% proof of stake security model opens the flood gates for a torrent of breakthrough innovations. The ability to predict future forging nodes allows forgers to build trust within the community. This trust can be leveraged by merchants to acheve instantly secure transactions or by customers to acheve visa level transaction volumes via transaction clearing performed by forgers before recording transactions in the blockchain. Nxt's 100% proof of stake security model eliminates many of the costs associated with blockchain security that are, with bitcoin, presently born by the savers in the form of inflation. Finally, unlike bitcoin with its limited time block subsidy, there is no arbitrarily selected date far off in the future where nxt's security model will be put to the final test, if nxt works now, it will work always.

Here's my take:

Ready for what's NXT? Written from the ground up, NXT is the first true second generation crypto. NXT's unique 100% Proof of Stake security model provides a platform for breakthrough and disruptive innovations. One of these innovations is known as Transparent Forging. With Transparent Forging, the network is capable of achieving instantly-secure transactions at Visa-level transaction volumes. Additionally, NXT's 100% Proof of Stake model completely eliminates the threat of a 51% percent attack, and does away with the enormous electrical and inflationary costs of blockchain security. With all of it's promised features, NXT provides the best and most secure foundation for users and businesses alike. NXT, the Next Generation of Cryptocurrency.

[Anon136]

"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

[loopgate88]

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

Yes. Right after the official client is released. And you know what I mean by official. I mean the client the community deems to be the best and thus becomes labeled the official client because that is the parlance of our times.

[jl777]

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

[NxtChg]

In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.

If we find a method to vote reliably, we can then implement a 2-tier system on top of it, where you delegate your votes for a particular matter to an expert.

You can say that "for this particular technical issue I delegate my vote to Jean-Luc".

But we need to find a reliable voting mechanism first.

[Anon136]

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

you have to define whale

[NxtChg]

And Europeans: go to bed now. Thank you.

[S3MKi]

Everyone calm down, please. And Europeans: go to bed now. Thank you.

okay))

[nexern]

So we are paying a CPM of around $75 for this advertising.  That's really expensive.

I'm not saying these audio spots are a bad idea, I don't know.  I'm saying $20K is a LOT of real money for an advertising budget.

If we are ready to spend that kind of cash, we should consider print ads in Bitcoin Magazine.  

For $20K we could get full page color ads on page 1 for the next three years in a printing of 25,000 in each month's production run.

http://bitcoinmagazine.com/advertising/

http://btcmag.9wizards.netdna-cdn.com/wp-content/uploads/2013/12/BITCOIN-Pricing-List-Interactive-Issues-17-19_web.pdf

This would have a CPM of around $20-$25.  Don Draper of Mad Men would say that's three times more effective.  Plus every ad could have a QR code or URL that would sweep the user immediately on to more info.

+1

[jl777]

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

Yes. Right after the official client is released. And you know what I mean by official. I mean the client the community deems to be the best and thus becomes labeled the official client because that is the parlance of our times.

Funding authorization is ALL that is required for a signal to the whales that NXT is serious business and to save the 10 million NXT from being vaporized

Marketing benefits the entire NXT community, globally. It is perfect way to spend community funds. Without marketing much harder to convince more whales to invest big. Also, whales like to make money, so if we announce funding before it is spent, it gives them time to accumulate the NXT before the big run up in price created by the big marketing campaign.

With the client days away from being released, the time is now. With emunie IPO starting next week, the time in now. With etherium IPO starting, the time is now.

This is a race and NXT is going to win, so lets let the whole world know this. all it takes is to fund marketing.

James

[nxtgt]

Ready for what's NXT? Written from the ground up, NXT is the first true second generation crypto. NXT's unique 100% Proof of Stake security model and truly de-centralized architecture provide a platform for breakthrough and disruptive innovations. Transparent forging, arbitrary messaging, and de-centralized asset exchange are just a few of the innovative features that will help write the next big crypto story of 2014. With Transparent Forging, a proprietary technology unique to NXT, the network is capable of achieving instantly-secure transactions at Visa-level transaction volumes. Additionally, NXT's 100% Proof of Stake model completely eliminates the threat of a 51% percent attack, and does away with the enormous electrical and inflationary costs of blockchain security. With all of its exciting, promised features, NXT provides the best and most secure foundation for users and businesses alike. NXT, the Next Generation of Cryptocurrency.

[pandaisftw]

"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

https://bitcointalk.org/index.php?topic=364218.0

[jl777]

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

you have to define whale

I don't know, maybe something like:

50 BTC dolphin
100 BTC small whale
250 BTC medium whale
1000 BTC big blue whale

[msin]

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.  

[nxtgt]

"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

Pardon me if I'm wrong (as I don't completely understand the technical aspects), but I think this has to do with transparent forging and a temporary penalty levied against nodes that go offline (in the case that someone were to acquire a 51% stake and try to fork the network).

[jkoil]

revision 2 (tell me if im getting closer)

Ready for whats next? Written from the ground up with brand new source code, nxt is the first truely second generation crypto. By melding short term predictibility with longer term uncertanty, nxt's 100% proof of stake security model opens the flood gates for a torrent of breakthrough innovations. The ability to predict future forging nodes allows forgers to build trust within the community. This trust can be leveraged by merchants to acheve instantly secure transactions or by customers to acheve visa level transaction volumes via transaction clearing performed by forgers before recording transactions in the blockchain. Nxt's 100% proof of stake security model eliminates many of the costs associated with blockchain security that are, with bitcoin, presently born by the savers in the form of inflation. Finally, unlike bitcoin with its limited time block subsidy, there is no arbitrarily selected date far off in the future where nxt's security model will be put to the final test, if nxt works now, it will work always.

Here's my take:

Ready for what's NXT? Written from the ground up, NXT is the first true second generation crypto. NXT's unique 100% Proof of Stake security model provides a platform for breakthrough and disruptive innovations. One of these innovations is known as Transparent Forging. With Transparent Forging, the network is capable of achieving instantly-secure transactions at Visa-level transaction volumes. Additionally, NXT's 100% Proof of Stake model completely eliminates the threat of a 51% percent attack, and does away with the enormous electrical and inflationary costs of blockchain security. With all of it's promised features, NXT provides the best and most secure foundation for users and businesses alike. NXT, the Next Generation of Cryptocurrency.

The 1 minute speech should be tested to some people, which are not familiar to NXT.
Then would be also found, if the "next" (NXT), or even "nexts" (NXT's), causes extra wondering in the heard speech

[ZeroTheGreat]

3. every "skill"      has x votes    (                      ? ? ? ?                            )

The example for the 3rd one is from groups, where skilled people, experts had
more weight in their votes than others.

In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.
Just NXTs and accounts. Unless there will be built a method to give identifications
to accounts (...which cannot be gamed:).

Excuse me? Next version of NRS, for example, u'll be setuping from link given to u not by some acc, but by Jean-Luc with his syle and PGP keys (and, may be installing software only in second+ row of installators to check by calmness that everything is alright), won't u? U can't get rid of relying and trusting completely (some last steps of Land of Mistrust is to write your own Java-compilator, cos any other could be compromised). As simpe as that for any kind of decision. If u're dev, u'll be collecting opinions and points of wished features, discussing pros and contras and then writing code.

U're taking decisions, u're evaluating the disposition. No one have to vote to pick correct version of NRS for u.

In decentralized system there're still creators and consumers. Developers and users. But chains of trust not end at single center of power, in who u need to have unlimited trust. Decentralized system's more stable.