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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756319 times)
CommanderVenus
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February 25, 2014, 10:11:07 PM
 #37721

Alright so i need a little help understanding something. I have two servers running on two separate computers. Both servers have the same account unlocked. I know the answer is going to be no, but i just want to understand how and why.. Does this double my chances of forging a block?

BTC: 1VenusEubcLC9W7ykckHbdEzo5MVhPmCb
NXT: 15182624396855992605
BTQ: 14b2QFPwFtBC3tcRW9F61aaRXP2ns3fh1m
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rickyjames
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February 25, 2014, 10:22:50 PM
 #37722

Hey guys,

I don't mean to crash this thread, but I am interested in where the community believes the value/price of NXT will go over the intermediate term (2-6 months) and why.


Nobody has minded one bit about me becoming a self-deluded totalitarian dictator in this thread.  I don't think they're gonna feel bad about you just crashing it.  Welcome!  You're part of the thread now!


I have seen different speculations thrown out from time to time, but I haven't been able to find an in depth discussion of the topic.
 

Everybody has been a little distracted and busy throwing everything they've got into improving this baby in its first 90 days.

Any thoughts on the value of NXT (in terms of BTC not dollars) in the intermediate future?

Up.

Ok. But theoretically if NXT becomes $1 because BTC becomes $10000, then its not a better investment than BTC. That's why I am interested in the future Nxt/Btc price.

A post-apocalyptic hellscape where BTC has reached $10,000 is somewhere I do not want to see even a glimpse of, much less live through.  Or in.

OK, snarky comments aside (dude, it was like you were feeding me straight lines! I just couldn't resist!) I think NXT is something really different and really special on a lot of levels.  The philosophy within it.  The people behind it.  The future before it.  Who knows where it will go.  But if it doesn't go up, and really really really up, it won't be because we didn't try.
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February 25, 2014, 10:23:57 PM
 #37723

Hey guys,

I don't mean to crash this thread, but I am interested in where the community believes the value/price of NXT will go over the intermediate term (2-6 months) and why.

I have seen different speculations thrown out from time to time, but I haven't been able to find an in depth discussion of the topic.

Obviously if we just look at "news" then the upcoming asset exchange would have some potential to increase the perceived value of NXT. Then, after that the decentralized exchange would have potential to increase the perceived value.

However, I would assume that some real utility would have to begin within the NXT system - i.e. some real exchange trading - substantial fee generation for forging, etc. for the price to really sustain any upward trajectory over the occasional over-bought/correction scenarios we see in all alts.

Any thoughts on the value of NXT (in terms of BTC not dollars) in the intermediate future?

And as a bonus question, I personally would be surprised to see an alt, including NXT, to gain more than 1/2 the market cap of Bitcoin at any given time unless the utility of that coin became a real challenger to BTC - which I believe is a long ways off in any case. So .0125BTC seems to be a best case scenario ceiling for NXT for the longer intermediate term.

I believe that 1 NXT is worth $1 and is not actually tied to BTC and I base my actions accordingly. The fact I can get NXT for much cheaper keeps me buying whenever I can until the price catches up.

Ok. But theoretically if NXT becomes $1 because BTC becomes $10000, then its not a better investment than BTC. That's why I am interested in the future Nxt/Btc price.

Yes, I see where you are coming from.  Nxt is still way under valued in my opinion.  BTC would have to reach a $100B+ marketcap to be worth $10,000, BTC is already reached critical mass growth.  Nxt only has to reach a fraction of BTC's current marketcap ($1B) to be worth $1 per Nxt.  I truly believe by the end of the year we will be at least $1.
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February 25, 2014, 10:25:27 PM
 #37724

Alright so i need a little help understanding something. I have two servers running on two separate computers. Both servers have the same account unlocked. I know the answer is going to be no, but i just want to understand how and why.. Does this double my chances of forging a block?

it doesnt, and in fact I believe CfB has stated in the past that this is a very bad practice, for reasons I cant understand though.  does anyone know why this is bad?  And if its so bad, what do we need to work on to mitigate the threat?
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February 25, 2014, 10:27:14 PM
 #37725

I'm gonna start a game here.  Which is probably a mistake.  Play along if you like. 

This page is my

BIRTH YEAR

and blue is my favorite color.
CommanderVenus
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February 25, 2014, 10:32:13 PM
 #37726

Alright so i need a little help understanding something. I have two servers running on two separate computers. Both servers have the same account unlocked. I know the answer is going to be no, but i just want to understand how and why.. Does this double my chances of forging a block?

it doesnt, and in fact I believe CfB has stated in the past that this is a very bad practice, for reasons I cant understand though.  does anyone know why this is bad?  And if its so bad, what do we need to work on to mitigate the threat?
Yeah id love to see the reasoning. Im hoping we can get some insight. Thank you for the reply, ill stick to just one server then.

BTC: 1VenusEubcLC9W7ykckHbdEzo5MVhPmCb
NXT: 15182624396855992605
BTQ: 14b2QFPwFtBC3tcRW9F61aaRXP2ns3fh1m
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February 25, 2014, 10:35:31 PM
 #37727

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R I C K Y J A M E S

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February 25, 2014, 10:36:41 PM
 #37728

I'm gonna start a game here.  Which is probably a mistake.  Play along if you like. 

This page is my

BIRTH YEAR

and blue is my favorite color.
Wow, you're pretty old. My birth year page is not for two more pages. Grin


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msin
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February 25, 2014, 10:38:41 PM
 #37729

I'm gonna start a game here.  Which is probably a mistake.  Play along if you like. 

This page is my

BIRTH YEAR

and blue is my favorite color.
Wow, you're pretty old. My birth year page is not for two more pages. Grin

Easy buddy, RickyJ has been known to terminate for much less.
klee
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February 25, 2014, 10:42:18 PM
 #37730

I think leaving back forever the 0.0001BTC price needs people to actually start using AE, NXTcash AND AT.
In any other coin the above combination could probably have eaten BTC but truth is that many early adopters (including me) wait the chance to start dumping at higher prices.

Of course if people lose interest it could very well go the other way, like panic selling @0.000001 again...

TF is a feature that will be very useful if NXT is widely adopted (at least as BTC is).

EDIT: On the other hand I think if we had a decent NXT/USD market the price would easily go to 1$
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February 25, 2014, 10:43:16 PM
 #37731

Regarding Texas Bitcoin Conference, I have gotten word that Tai Zen (Asian Prepper) and I are officially confirmed for door passes as official NXT sponsors.  I am told I will be participating on the Alternative Cryptocurrencies panel, a secondary discussion group that will be held at the same time as their "Big Three" main discussion groups at 3:20 on March 6.  This is totally appropriate, as NXT is being given bottom-rung "Sponsor" status for Salsa's payment of only $1000 instead of the quoted $2500.  See schedule link below.  

http://texasbitcoinconference.com/schedule

This is the beginning, NXT will grow from here in future conferences.  And I am certainly looking forward to this one.  
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February 25, 2014, 10:44:03 PM
 #37732

H A P P Y B I R T H D A Y
R I C K Y J A M E S

Thanks!  It's actually pretty close, on March 22.
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February 25, 2014, 10:46:48 PM
 #37733

i'm doing a "porting" of iNxt to FirefoxOS (always mobile)

Here is my WIP: http://www.riccardorossi.org/FireNXT/index.html

what i have to add in Wallet? (now only exchange is working)
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February 25, 2014, 10:46:58 PM
 #37734

DONE!

Everyone do it: https://bittrex.com/Account/Register

Invite code: "SUPPORT_NXT"

Already done 2 days ago...

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USDQ KRWQ CNYQ JPYQ

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February 25, 2014, 10:56:20 PM
 #37735

Everyone do it: https://bittrex.com/Account/Register

Invite code: "SUPPORT_NXT"

done Smiley

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February 25, 2014, 11:03:59 PM
 #37736

I'm gonna start a game here.  Which is probably a mistake.  Play along if you like.  

This page is my

BIRTH YEAR

and blue is my favorite color.
Wow, you're pretty old. My birth year page is not for two more pages. Grin

Easy buddy, RickyJ has been known to terminate for much less.

And I thought I was an old grumpy bastard......my birth year is gonna be in 11 pages and my favourite colour (well, the only colour) is black........

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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February 25, 2014, 11:08:53 PM
 #37737

People, please don't use third party websites to check hashes. It defeats the purpose of the hash.

If you're using Windows, download this to check the hashes easily and quickly. It's open source and free:

http://code.kliu.org/hashcheck/

+10, use hashcheck, it rules.

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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February 25, 2014, 11:25:45 PM
 #37738


Thanks guys, did hear from the Bittrex team, I sent them some Nxt to test on their system and they are working hard to implement with their automated system.  They were impressed with the dev help (Opticalc) and the community support.  Thanks for all who signed up.  We should be all set with them soon as well as Atomic Trade, I believe Byron left an update post here today.
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February 25, 2014, 11:51:26 PM
 #37739

I'm gonna start a game here.  Which is probably a mistake.  Play along if you like.  

This page is my

BIRTH YEAR

and blue is my favorite color.
Wow, you're pretty old. My birth year page is not for two more pages. Grin

Easy buddy, RickyJ has been known to terminate for much less.

And I thought I was an old grumpy bastard......my birth year is gonna be in 11 pages and my favourite colour (well, the only colour) is black........

That's still pretty old for a geek. I started back in punched card days. I am ancient as far as sysadmins go.


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EvilDave
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February 25, 2014, 11:51:56 PM
 #37740

I feel the need to weigh in again on the forging rewards debate:

We do not need to change the current forging setup.
Forging right now is completely fair. Everyone who forges gets a small percentage increase in their NXT holdings, in the form of tx fees.
You must remember that NXT is (as rickyjames keeps telling us) a zero-sum game. There are only one billion (minus a few) coins in existence. Forging does not make new NXT, just moves the old NXT around.

Pools will make it easier for smallholders to keep their forging power online, but will make absolutely no difference to earnings thru forging.

(This brings me to the 1st gen/2nd gen thing...more on that later)
Forging will only provide a sizeable income if/when we have a large amount of NXT transactions, which will only happen if NXT is in wide-scale adoption as a 1st generation crypto (ie, pay, move, store, invest, use like money).
Even then, forging will never give the dramatic gains that some people seem to expect.

But we need to encourage a healthy network: lots of NXT nodes, big, small, forging, non-forging, it all helps.
The easiest way to do this is to implement a rewards scheme running alongside forging, but one that rewards setting up and running a node:   Jl777's NodeCoin plan, in other words.  

TL:DR
Reward nodes, listen to jl777, do not fuck around with forging.


Back to the 1st Gen/2nd Gen thing: some people have expressed the opinion that NXT should completely skip the whole idea of being a successful 1st Gen crypto (ie pay, move, store, invest) in favour of going straight to concentrating on being a 2nd Gen crypto (AE, AM, DACS, colored coins, games....etc).

Good idea but if NXT is a success as a 1st gen currency:
We will have lots of money to spend on setting up 2nd gen features/DACS.
We will have a large user base ready to invest in and adopt 2nd gen features.
We will have a much higher profile in the crypto and wider worlds.

We can't expect to just go from zero to successful 2nd gen without first succeeding as a 1st gen. I can't see it happening.....
Correct me if i'm wrong, but all other 2nd gen cryptos are either stuck in development hell or riding on the back of Bitcoin, a successful 1st gen currency.  See where I'm going with this ?

Last 1st gen vs 2nd gen point: assuming that we have 15,000 unique NXT users (number out of my head) , how many of those people are capable of doing effective development work on the 2nd gen features ?  5% ? 10% ? 20% ?
But everyone can participate in making NXT a success on the 1st gen level, simply thru marketing, encouraging adoption, and actually helping to build a 1st gen eco-system thru trading and use.

I'm not saying stop work on 2nd gen, I am saying that more of us should concentrate on getting the 1st gen basics of NXT right, while the big brain/serious dev skills dudes can build the fairy castles in the sky that will make us all rich.

Hopefully......

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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