NXT :: descendant of Bitcoin - Updated Information

[jl777]

Does anybody know if the getTrades API gets ALL changes in an assets ownership? I am assuming it gets all matched bid and ask orders, but does it also get all transferAsset txids?

I want to make sure I get any and all changes in asset balances.

James

Trades and transfers not linked.

So I need to combine all the txids from getTrades and transferAsset txids to calculate exact balance in all accounts of an asset.

I am assuming the txid from getTrades will be for the corresponding placeBidOrder or placeAskOrder.

I that is correct, I dont really need to know the exact price, but I am curious how to find out what price the trade executed at. If two people put in a bid and ask in the same block, with the bid higher than the ask, what is the executed price and how can I find that out in the blockchain?

James

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[Mises_77]

More I think about Pooled Forging, more I don't like it. Does anyone have any ideas where this could lead to? Won't we face the same problem as Bitcoin (GHash)?

I put refactoring on hold until the community decides that it's safe for Nxt.

As long as the big account holders dont pool their forging, it seems safe enough.

However, if we had nodecoin, that would let the small accounts gain daily rewards that they can see. I think that is what most people want to see. We can then just put in bids in AE for nodecoin so that it is actually worth NXT

Instead of pooled forging, can you port over multisig? That is much more important than pooled forging, since there are alternate solutions for that. Multisig is pretty fundamental.

James

I really feel nodecoin is needed. Many people don't really even understand what NXT even is. It will get the newbies in and into our NXT ecosystem. Nodecoin miners today will be NXT'ers shortly after.

[jl777]

Any updates on AE, what are we waiting for? can we set a date?

I am currently writing an AE audit program. It will make sure all asset balances are correct. I think we need to have this running while we have several active tradebots making all sorts of trades, big and small, from many computers.

If after a million trade brute force test, everything still reconciles, then it should be good to go

James

[DrearyUrbanite]

BTC38 is asking about which coin to add next on their exchange. Please take a few minutes to let them know about Nxt:

https://bitcointalk.org/index.php?topic=501963.msg5525645#msg5525645

Done - we're up at the moment with 35%

[Come-from-Beyond]

Isn't it much harder for NXT compared to Bitcoin to be 51%(NXT with 90%+ right?)

Just have multiple pools if I understand it correctly. It gives the little guy with <100k a chance to get something out of forging. Many people want an incentive to forge.

Nxt doesn't have 90% protection yet. TF is not completed.

[Come-from-Beyond]

Instead of pooled forging, can you port over multisig? That is much more important than pooled forging, since there are alternate solutions for that. Multisig is pretty fundamental.

Why do we need 2 ways to do a multisig?

[redsn0w]

good news, I have lobbied to add NXT on https://www.litebit.eu/

NXT will be ADDED NEXT THIS WEEK !!!!

this is big becausse you can buy NXT with mistercash, ideal, etc...


this is a new gateway to fiat also. MARKETING, GO PROMOTE IT PLS

Pin

NXT: 12088507821025750338

They will even add it THIS week !

https://www.litepaid.com/?set_lang=en

https://www.litebit.eu/en/

+1440

[wakasaki808]

Isn't it much harder for NXT compared to Bitcoin to be 51%(NXT with 90%+ right?)

Just have multiple pools if I understand it correctly. It gives the little guy with <100k a chance to get something out of forging. Many people want an incentive to forge.

Nxt doesn't have 90% protection yet. TF is not completed.

Ah okay. If anything lets get Nodecoin up and running successfully. Gives people that want to mine/forge something to gain consistently.

[Come-from-Beyond]

I that is correct, I dont really need to know the exact price, but I am curious how to find out what price the trade executed at. If two people put in a bid and ask in the same block, with the bid higher than the ask, what is the executed price and how can I find that out in the blockchain?

Trades have the price.

[pinarello]

good news, I have lobbied to add NXT on https://www.litebit.eu/

NXT will be ADDED NEXT THIS WEEK !!!!

this is big becausse you can buy NXT with mistercash, ideal, etc...


this is a new gateway to fiat also. MARKETING, GO PROMOTE IT PLS

Pin

NXT: 12088507821025750338

They will even add it THIS week !

https://www.litepaid.com/?set_lang=en

https://www.litebit.eu/en/

+1440

soon panic buy will kick in 

[EmoneyRu]

More I think about Pooled Forging, more I don't like it. Does anyone have any ideas where this could lead to? Won't we face the same problem as Bitcoin (GHash)?

I put refactoring on hold until the community decides that it's safe for Nxt.

Current NXT circulation:
1. Buy NXT from initial stakeholder.
2. Register alias / send message / issue asset and pay fee to stakeholder.
3. Goto :1

As I always said, forging was created for stakeholders. You (community) always said that "when we'll have more transactions, fees would be better distributed". False! Forging is not dependent on fee in expected block. The only thing that will change is that stakeholders would get back their sold NXT faster.

Nxt is good platform. It is another P2P software like Bittorent. We need to find another way to prevent spam and get rid of NXT.

[joefox]

Instead of pooled forging, can you port over multisig? That is much more important than pooled forging, since there are alternate solutions for that. Multisig is pretty fundamental.

Why do we need 2 ways to do a multisig?

I'm torn on this. On one hand, multisig in Nxt's core adds transaction processing overhead that seems contrary to Nxt's agility- and efficiency-focused core. Nxt AT is a much better place for it, but not if the transaction cost is too high. Multisig should be a higher-level function that is "free with the cost of any transaction" (I.e. no or minimal additional fee/cost)

Ultimately, I don't think the Nxt core is the right place for multisig.

Putting it there because "Nxt AT isn't ready yet" would be a mistake.

[lingdu22]

Hey guys! I'm allwelder's friend.
If you want the price of NXT pumping up,
please go to https://bitcointalk.org/index.php?topic=501963.0 to vote NXT!!!
Www.btc38.com is the biggest Altcoins exchange in China.
It will be a great news to NXT if the site launch NXT!!!

Please!!!

[DrearyUrbanite]

More I think about Pooled Forging, more I don't like it. Does anyone have any ideas where this could lead to? Won't we face the same problem as Bitcoin (GHash)?

I put refactoring on hold until the community decides that it's safe for Nxt.

I think the concept of pools in Nxt is a non-starter: it doesn't make any sense, except under one scenario.

Pooling coins for Nxt has no impact on ROI. The effect is psychological. You'll get less Nxt more often, but you won't earn more Nxt than you would forging alone.

The only reason it makes sense is if you can't run software all the time, or are frustrated with having to update it every two days to keep from being left on a fork due to software changes and fixes.

People who want pools are people who believe (against all factual data) that pooling gives them additional reward. This is a fallacy and we should not support the belief.

People who want to "set it and forget it" have a valid argument, but IMHO not enough of one to warrant adding "pooled forging" to Nxt's core.

Actually pools will yield even less reward than forging solo since there is bound to be a fee.

[bitcoinpaul]

Personally, I don't like pools. They are counterproductive, they don't tell the message Nxt wants to give (decentralization), and they can be dangerous right now.

Maybe we should revisit the pool-idea in the future, when other things are ready.

[godt]

BTC38 is asking about which coin to add next on their exchange. Please take a few minutes to let them know about Nxt:

https://bitcointalk.org/index.php?topic=501963.msg5525645#msg5525645

Voted

[godt]

Why at nxtcrypto.org is not show this video as default - http://www.youtube.com/watch?v=UuZH3a5MKik  ? Like at bitcoin.org
For how long will be NXT.org starts ? Someone develops it ?

[jl777]

Instead of pooled forging, can you port over multisig? That is much more important than pooled forging, since there are alternate solutions for that. Multisig is pretty fundamental.

Why do we need 2 ways to do a multisig?

Redundancy and time to market.

I dont like using AT for multisig because that will cost extra to execute the AT. it also has more moving parts and maybe even a delay for a block waiting for AT. There is room for a simpler built in multisig and a flexible AT based supersig

If the code is there, might as well use it

James

[oldnbold]

@jl777

i was thinking.. could you set up a gateway for krona and for auroracoin for when auroracoin is airdropped.. giving the people of iceland a decentralised way of trading auroracoin.. as far as i know they wont be able to sell it for USD and trade into krona due to the currency laws.. it would be big publicity for nxt.. and at worst you get 330,000 people who find out what nxt is even if they do just cash out and AUR collapses! it could go a very long way to helping the whole project work...!

As long as it is a bitcoind fork, I estimate a new coin can be added faster than you can download the blockchain. Well, maybe for a brand new coin it will be a close race. Just one file needs to be changed with the gateways addresses and public keys and a few other coin specific details.

Then of course, it has to be tested. Maybe somebody can keep a list of all the coins we should support? I cant do this all by myself.
Can somebody be the project manager? There are many parts of this, but you dont need to be technical, just organized and a little management experience. I know a lot of you are lurking and intimidated by the tech talk, but this is a task of keeping track of the things that need to be done and communicating. The more of this I can offload, the more time I will have for coding. Just saying.

James

As one of those lurkers I'd welcome the chance to contribute; so if you're still looking for someone to be project manager, I'd be very happy to get involved. I read the thread several times a day and have got the time. My communication skills and management experience should be ok, but I may have to ask some initial, elementary technical questions in order to fully understand what's required.

Fantastic. If you have been reading the thread, you know what needs to be done. Just jump in and start making things happen

I would be happy to answer any questions. The post with the blue headline had a good summary.

James

Apologies for the delay in responding.

I've reread your Plan for automated multisig gateway post  - relevant extract below:

...I need three independent and trustworthy server operators to install and run the gateway. You will have to promise not to release source code until approved to do so. The biggest task will probably be installing a couple dozen bitcoind forks.

I need web html person to make web interface for gateway. There is no need for people to have to compile a program just to get deposit address or change withdrawal address. Everyone is used to doing that from webpage. It does have to do local signing as we have to send AM to make gateway requests.

I also need somebody to write code for the equivalent of blockchain explorer, basically gateway transaction explorer. Correlating transactions, tracking balances, etc. [I could do this, but it is better if there are more people familiar with what the gateway is doing with AM]

I also would like to have somebody refactor the code. It is ~2500 lines of C code that uses no libraries other than curl. Everything else is custom code, it was just faster for me to write it from scratch than mess around with unfamiliar libraries.  I am sure my code can be improved.

Probably the most important, I need to hire Evil Bob. At least somebody who will do all sorts of Evil Bobness to the gateway.

After we are done with this project, NXT AE will have direct links to dozens of crypto wallets. All these cryptos will trade against NXT, making NXT the standard that the other coins are valued. We need to make sure the gateway code is secure before putting it into production. I will be setting aside 100000 NXT for a NDIC (nxt deposit insurance) fund, 10000 NXT per person and 100K max, for any gateway caused losses.

Please help us put some distance between us and the clones! Volunteers are most welcomed, but if you need some NXT to motivate you to participate, PM me and I will see what I can work out.

James

https://bitcointalk.org/index.php?topic=345619.msg5434195#msg5434195



And I've been following and trying to understand this thread (itself almost a full time job for a non techie like myself) but I don't know:

* whether the project management you envisage includes the areas of work listed in your Plan for automated multisig gateway post or just keeping track of the things that need to be done and communicating re the coins to be supported and coin testing of the gateway


Or

* apart from asking the questions below, how otherwise to 'start making things happen'


Would it be helpful to start a technical thread at http://www.nxtcoins.nl/bitcointalk-threads/  for people to post their results/comments re the
stress testing (hope that's an accurate description) of the gateway using dogecoin (or, more accurately (?), the dogeind gateway) and subsequent coins?

Presumably the gateway will need to be tested each time a new coin is supported – correct?

What's the criterion/criteria for inclusion of a coin on the gateway?

You've said:

'The ONLY function of the gateway is to accept deposit and process withdrawal of an asset. I am only dealing with crypto gateways here, more specifically cryptos with multisig support like BTC.'

https://bitcointalk.org/index.php?topic=345619.34740 

and, more recently:

….a non-profit gateway for all the popular cryptos into NXT AE....

Other than the current stress testing of the the dogeind gateway which other of the areas of work listed in your Plan for automated multisig gateway post have been started and by whom?

I've seen nothing in the thread re this since the following posts were made:

February 28, 2014, 09:50:05 PM

Quote from: msin on February 28, 2014, 09:43:03 PM
Quote from: jl777 on February 28, 2014, 09:24:33 PM
Quote from: msin on February 28, 2014, 09:16:20 PM


@msin
You are organizational type, yes? Maybe you could manage automated gateway project? I want to add NXTcash to gateway instead of coordinating all the stuff from my post above.

James

Sure, I can help manage if you need me to.  In regards to server operators, what do you think about three separate hosted servers that one person can admin until code is released, assuming we will be on testnet.  Perhaps abctc.  Here is my suggestions for others:

I need web html person to make web interface for gateway - Wesleyh

I also need somebody to write code for the equivalent of blockchain explorer, basically gateway transaction explorer. - Nexern

I also would like to have somebody refactor the code. - Zahlen

Probably the most important, I need to hire Evil Bob.  - Jesse James or CIYAM

Opticalc, would you be interested in running one of the three DAC gateways? 
https://bitcointalk.org/index.php?topic=345619.40500

And

February 28, 2014, 10:26:45 PM

Quote from: opticalcarrier on February 28, 2014, 10:02:05 PM
Quote from: msin on February 28, 2014, 09:50:05 PM
Opticalc, would you be interested in running one of the three DAC gateways? 

I can *probably* manage one..  may have to ask lots of questions though...

Great, if anyone else in interested in the DAC projects listed by James, please post.

https://bitcointalk.org/index.php?topic=345619.40500

I'm not sure my low level of understanding will enable me to do justice to what the project management involves.

However I'd still happy to contribute what I could, provided I was confident my contribution was going to be effective and not waste other people's time.

Apologies for the length of this post.

[jl777]

<impressive wall of txt!>

I've PM'ed you

James