NXT :: descendant of Bitcoin - Updated Information

[Mistafreeze]

Nxt is too difficult to setup.

Yes, unfortunately it is...there are third-party clients that are easier to install, but the default one that most people use and trust is too difficult for a non-technical oriented user to install and run. Creating an installer that at least installs NRS and creates a shortcut to open the NRS URL should be among the top priorities for the project imho.

I did, 3 months ago....
It used to be in the main post but was apparently removed.

https://nextcoin.org/index.php/topic,1902.0.html

[wesleyh]

What would differentiate a "Class A" asset from a "Class B" asset?

perhaps we could limit Class B Asset to not being able to have as many units/shares.

I see.

Although I like the idea, let us clarify what our goal is with this.

It's an interesting idea.

I think we should all remember BCNext's vision for NXT and his thoughts regarding fees.  I agree with BCNext wanting NXT fees to be low.  Imo, 1000 NXT for asset name registration is too high.  I think you should be able to register an asset name for 1 NXT.  By setting NXT fees high, we are excluding people from NXT because they cannot afford the registration price.  NXT should be for everyone.

you have to remember that what we are talking about here is self issued credit. i think its fair to expect that people who are issuing their own credit have SOME assets in reserve, leverage is good and useful but i don't think we want people leveraged at 0 percent.

I don't understand why not? Credit can't truly be self issued anyway. anyone can say "trust me, I am good for it" the credit is issued when someone else says, "OK, I trust you." at that point the fee is just inhibiting private business, which I am whole heartedly against. I can sort of understand the spam argument as a reason for a higher issuing price, as this potential for spam would have a universal effect on the whole community, But I highly disagree with using it as a means of policing private business, and that includes the name squatting arguments, the scam arguments. I could agree with raising trans fees for the AE, but I am with 2kewl on this. How are you going to charge NXT users more than people who are importing assets through gateways?

By charging such a fee anyone trying to sell anything on the market starts in the whole that much.Today About $50 bucks. So If you have something worth $100 it is not worth trying to sell. Really you would have to sell $1000 dollars worth of stuff to get the fee down to 5%. 5% is to high. Lower issue fees give more people more opportunity.

Think of the applicable uses this would eliminate. For example, If I were to want to sell a comic book collection by individual books, I would have to put a 1000 NXT mark up on every book. Any low cost per asset and high asset volume business would have no place on the AE.

Higher fees limit the versatility of the AE in the ways people can use it, restricts the number of users, and restricts the demographics of people who can use it. There are so many creative ways to use this feature if it is not restricted by high cost.

ok so perhaps self monetized credit is a better way of saying it.

i mean how many of this one type of comic book would you have? you dont need to build a market for 1 or 2 items only. you just sell the one or two items on something like ebay. you only need a market in a product that you either produce or have a lot of.

also this helps to protect against domain squatting. thats a really big deal since the person who acquires a domain is the monopoly provider meaning he has the leverage to charge outrageous prices as soon as he knows that someone wants it. if we didnt put a price on it than people would go crazy and reserve every domain imaginable and anyone who wanted to issue an asset would have to pay CRAZY prices. The net effect of making asset registration cheap would be that getting the asset you wanted would be orders of magnitude more expensive than if there was simply a cost for registering to begin with.

*edit* incidentally i really like the idea of having tiers of asset classes. that gives us the best of both worlds.

Yes, tiers would be great.

Btw, if you look at the source of the nxt html page, you will see a reference to a both the "asset exchange" and "stores". So perhaps BCNext had a plan to make something like a storefront too, where a user could sell whatever item he wanted, decentralized. it would be great to have this....

[pinarello]

Hey guys, can someone else setup a testnet?
It is difficult for my friend to keep up maintaining it, he is changing jobs and is hell of a busy lately! Until Jean Luc makes the changes he said...

We need to address this ASAP!

[msin]

holycrap AUR just keeps on moving up

We should add AUR to the AE gateway.

[Anon136]

What would differentiate a "Class A" asset from a "Class B" asset?

perhaps we could limit Class B Asset to not being able to have as many units/shares.

I see.

Although I like the idea, let us clarify what our goal is with this.

It's an interesting idea.

I think we should all remember BCNext's vision for NXT and his thoughts regarding fees.  I agree with BCNext wanting NXT fees to be low.  Imo, 1000 NXT for asset name registration is too high.  I think you should be able to register an asset name for 1 NXT.  By setting NXT fees high, we are excluding people from NXT because they cannot afford the registration price.  NXT should be for everyone.

you have to remember that what we are talking about here is self issued credit. i think its fair to expect that people who are issuing their own credit have SOME assets in reserve, leverage is good and useful but i don't think we want people leveraged at 0 percent.

I don't understand why not? Credit can't truly be self issued anyway. anyone can say "trust me, I am good for it" the credit is issued when someone else says, "OK, I trust you." at that point the fee is just inhibiting private business, which I am whole heartedly against. I can sort of understand the spam argument as a reason for a higher issuing price, as this potential for spam would have a universal effect on the whole community, But I highly disagree with using it as a means of policing private business, and that includes the name squatting arguments, the scam arguments. I could agree with raising trans fees for the AE, but I am with 2kewl on this. How are you going to charge NXT users more than people who are importing assets through gateways?

By charging such a fee anyone trying to sell anything on the market starts in the whole that much.Today About $50 bucks. So If you have something worth $100 it is not worth trying to sell. Really you would have to sell $1000 dollars worth of stuff to get the fee down to 5%. 5% is to high. Lower issue fees give more people more opportunity.

Think of the applicable uses this would eliminate. For example, If I were to want to sell a comic book collection by individual books, I would have to put a 1000 NXT mark up on every book. Any low cost per asset and high asset volume business would have no place on the AE.

Higher fees limit the versatility of the AE in the ways people can use it, restricts the number of users, and restricts the demographics of people who can use it. There are so many creative ways to use this feature if it is not restricted by high cost.

ok so perhaps self monetized credit is a better way of saying it.

i mean how many of this one type of comic book would you have? you dont need to build a market for 1 or 2 items only. you just sell the one or two items on something like ebay. you only need a market in a product that you either produce or have a lot of.

also this helps to protect against domain squatting. thats a really big deal since the person who acquires a domain is the monopoly provider meaning he has the leverage to charge outrageous prices as soon as he knows that someone wants it. if we didnt put a price on it than people would go crazy and reserve every domain imaginable and anyone who wanted to issue an asset would have to pay CRAZY prices. The net effect of making asset registration cheap would be that getting the asset you wanted would be orders of magnitude more expensive than if there was simply a cost for registering to begin with.

*edit* incidentally i really like the idea of having tiers of asset classes. that gives us the best of both worlds.

Yes, tiers would be great.

Btw, if you look at the source of the nxt html page, you will see a reference to a both the "asset exchange" and "stores". So perhaps BCNext had a plan to make something like a storefront too, where a user could sell whatever item he wanted, decentralized. it would be great to have this....

yes that would be amazing. its definitely a different sort of functionality than we get with AE. i dont think a lot of people realize that.

[farl4web]

Nxt is too difficult to setup. As of February, I have to somewhat agree with them. Although I have had the NRS since it's inception, it becomes a bit more difficult each time to setup each update. I have always run via SSL, but since 8.0 (I think) this was dropped by default and there is a process to go through to get it working. I know we are moving towards actual clients at some point, however, as it stands today, it is very difficult to setup the NRS for a beginner. I know this to be true, since I have given some Nxt away to colleagues and all have had their issues setting up. Not to mention, even after getting it to work successfully, the amount of errors that appear in the cmd window would scare any new comer away.

If you have a Mac, use the client of Wesley! It's easy to setup, no technical knowledge needed. Just forge! 

[CoinTropolis_JustaBitTime]

holycrap AUR just keeps on moving up

We should add AUR to the AE gateway.

+100 

[ChuckOne]

What would differentiate a "Class A" asset from a "Class B" asset?

perhaps we could limit Class B Asset to not being able to have as many units/shares.

I see.

Although I like the idea, let us clarify what our goal is with this.

It's an interesting idea.

I think we should all remember BCNext's vision for NXT and his thoughts regarding fees.  I agree with BCNext wanting NXT fees to be low.  Imo, 1000 NXT for asset name registration is too high.  I think you should be able to register an asset name for 1 NXT.  By setting NXT fees high, we are excluding people from NXT because they cannot afford the registration price.  NXT should be for everyone.

you have to remember that what we are talking about here is self issued credit. i think its fair to expect that people who are issuing their own credit have SOME assets in reserve, leverage is good and useful but i don't think we want people leveraged at 0 percent.

I don't understand why not? Credit can't truly be self issued anyway. anyone can say "trust me, I am good for it" the credit is issued when someone else says, "OK, I trust you." at that point the fee is just inhibiting private business, which I am whole heartedly against. I can sort of understand the spam argument as a reason for a higher issuing price, as this potential for spam would have a universal effect on the whole community, But I highly disagree with using it as a means of policing private business, and that includes the name squatting arguments, the scam arguments. I could agree with raising trans fees for the AE, but I am with 2kewl on this. How are you going to charge NXT users more than people who are importing assets through gateways?

By charging such a fee anyone trying to sell anything on the market starts in the whole that much.Today About $50 bucks. So If you have something worth $100 it is not worth trying to sell. Really you would have to sell $1000 dollars worth of stuff to get the fee down to 5%. 5% is to high. Lower issue fees give more people more opportunity.

Think of the applicable uses this would eliminate. For example, If I were to want to sell a comic book collection by individual books, I would have to put a 1000 NXT mark up on every book. Any low cost per asset and high asset volume business would have no place on the AE.

Higher fees limit the versatility of the AE in the ways people can use it, restricts the number of users, and restricts the demographics of people who can use it. There are so many creative ways to use this feature if it is not restricted by high cost.

ok so perhaps self monetized credit is a better way of saying it.

i mean how many of this one type of comic book would you have? you dont need to build a market for 1 or 2 items only. you just sell the one or two items on something like ebay. you only need a market in a product that you either produce or have a lot of.

also this helps to protect against domain squatting. thats a really big deal since the person who acquires a domain is the monopoly provider meaning he has the leverage to charge outrageous prices as soon as he knows that someone wants it. if we didnt put a price on it than people would go crazy and reserve every domain imaginable and anyone who wanted to issue an asset would have to pay CRAZY prices. The net effect of making asset registration cheap would be that getting the asset you wanted would be orders of magnitude more expensive than if there was simply a cost for registering to begin with.

*edit* incidentally i really like the idea of having tiers of asset classes. that gives us the best of both worlds.

Real-world shares have the benefit of controlling the company proportionally in the amount of shares you have. We need AT, to do so. Otherwise, it's just good faith.

[msin]

Hey guys, can someone else setup a testnet?
It is difficult for my friend to keep up maintaining it, he is changing jobs and is hell of a busy lately! Until Jean Luc makes the changes he said...

We need to address this ASAP!

Opticalc?  Also, did someone start a thread for the atomic x-chain bounty put up by our beloved stakeholder?

[abuelau]

Nxt is too difficult to setup. As of February, I have to somewhat agree with them. Although I have had the NRS since it's inception, it becomes a bit more difficult each time to setup each update. I have always run via SSL, but since 8.0 (I think) this was dropped by default and there is a process to go through to get it working. I know we are moving towards actual clients at some point, however, as it stands today, it is very difficult to setup the NRS for a beginner. I know this to be true, since I have given some Nxt away to colleagues and all have had their issues setting up. Not to mention, even after getting it to work successfully, the amount of errors that appear in the cmd window would scare any new comer away.

Tell them to use the online wallet wallet.mynxt.info

[NxtMinnow]

Nxt Social Media Swarm Needed   --   Marketing types and all Nxt stakeholders please read

https://bitcointalk.org/index.php?topic=412243.msg5487129#msg5487129

[pinarello]

So could some stakeholders put the biggest chunk of bounty in history of mankind out there for atomic cross chain transaction on nxt please? During this time (this will take a while?!) we should have the best community driven gateway possible, which james is currently building.

OK.
3M NXT (up to 5M for additional features) for atomic cross chain transactions.
Conditions:
a) working client for average user;
b) official approve of all three NXT Funding Committees;
c) fully working asset exchange;
d) working transparent forging in the part marked bold:

NB: The only penalty is inability to mine blocks within some period of time. They still can decide not to bother with mining, but their "hashing" power will be distributed to those who do protect the network.

Last two conditions are my conditions to stop holding investment in 50M NXT.

lets pick this up again.

[martismartis]

Nxt is too difficult to setup.

Yes, unfortunately it is...there are third-party clients that are easier to install, but the default one that most people use and trust is too difficult for a non-technical oriented user to install and run. Creating an installer that at least installs NRS and creates a shortcut to open the NRS URL should be among the top priorities for the project imho.

Nxt Fees are too high. - I know we have discussed this and have plans in the future, but I think at some point we need to have a concrete plan in place that is very visible to new comers to see.

The plan is to allow fractional amounts of NXT's. Once this is done, the fee will almost certainly be lowered.

For me, I'm not concerned about the fee at all, I simply want to participate while not putting my Nxt at risk. I already run a VPS that is managed by opticalcarrier, but if it's not hallmarked, what real benefit is it providing?

You are forging even if you are not running a hallmarked node.

Also, in relation to this, if I were a new user and followed the directions provided by the wiki to begin forging, they would have no success, atleast with Chrome on Win 7

What's the issue with Chrome on Windows 7?

Second bolded question. Is it really any known problem with Chrome on Win7?

[joefox]

well if nobody listening this will hurt a little, dont blame me.... down we go!

I know I'm going to regret responding to this, but it's my first day off in weeks and I'm feeling particularly Ghandi-esque:

I, for one, encourage your big dumps and would love other large stakeholders (real or imagined) to sell like crazy as well.  The lower the price, the more attractive it is to new people, and the more distributed the tokens become.

So... thanks!

[wakasaki808]

well if nobody listening this will hurt a little, dont blame me.... down we go!

I know I'm going to regret responding to this, but it's my first day off in weeks and I'm feeling particularly Ghandi-esque:

I, for one, encourage your big dumps and would love other large stakeholders (real or imagined) to sell like crazy as well.  The lower the price, the more attractive it is to new people, and the more distributed the tokens become.

So... thanks!

Yup. It allows allows for people that do trade some arbitrage between exchanges

[salsacz]

I will be coming to the marketing committee for some funds for the April BTC conventions in NYC, and maybe these private sector projects as well
LONG ON NXT

did they already respond you from http://www.cryptocurrencyconvention.com/ so you could be a speaker there as we discuessed it few weeks ago? If not, you have only 2 days for buying a ticket for 50%.

[TwinWinNerD]

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

[farl4web]

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Cool!! Congrats!

[crypto_girl]

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Congrats!

Don't think I will ever forge one with the amount of NXT I have

[brooklynbtc]

I will be coming to the marketing committee for some funds for the April BTC conventions in NYC, and maybe these private sector projects as well
LONG ON NXT

did they already respond you from http://www.cryptocurrencyconvention.com/ so you could be a speaker there as we discuessed it few weeks ago? If not, you have only 2 days for buying a ticket for 50%.

I have not yet registered. I asked the group if it was thought that I was suitable as a speaker, but was not given a reply. It really seems this convention is like all these fly by night exchanges popping up, trying to make a quick buck, selling buckets and shovels at the gold rush.

The $200 is for all attendees, not a speaker.   Is it worth the 3724.58688298 NXT for a ticket still?

I live here, so my only additional cost is subway fare which I will gladly cover