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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2761195 times)
jl777
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March 05, 2014, 11:53:32 PM
 #40881

jean-luc

If you can get asset trades denominated in other assets implemented, then NXT AE would be able to dominate all other centralized exchanges. Basically all cryptos supported by the gateway could be directly traded against any other crypto. It would be fantastic!

After trading, people could withdraw directly to their wallet whatever crypto they have assets for

I think this is a much bigger change than assets supporting fractions, but maybe its a conditional handling in Order.java for all the trades of an asset denominated in another asset. Even if BTC is the only other asset something can be denominated in, that would get us 90% of the benefit, but I think the way the code is structured, it would be almost the same work to allow arbitrary denominations based in other assets.

James

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
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March 05, 2014, 11:56:14 PM
 #40882

As I said, I will approach the candidates once we have some names and know how the newcomers would be able to contribute.

Who is going to conduct the technical interviews?

good question we are decentralized, but I think you are the person best placed to do so, at the end you would work toghetter not?

BTW how long will you stay on this project?

Good question. It's about time NXT 'Ground Control' got some attention.
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March 05, 2014, 11:57:07 PM
 #40883

Is JL available for new dev core team consideration post CFB?
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March 06, 2014, 12:10:22 AM
 #40884

jean-luc

If you can get asset trades denominated in other assets implemented, then NXT AE would be able to dominate all other centralized exchanges. Basically all cryptos supported by the gateway could be directly traded against any other crypto. It would be fantastic!

After trading, people could withdraw directly to their wallet whatever crypto they have assets for

I think this is a much bigger change than assets supporting fractions, but maybe its a conditional handling in Order.java for all the trades of an asset denominated in another asset. Even if BTC is the only other asset something can be denominated in, that would get us 90% of the benefit, but I think the way the code is structured, it would be almost the same work to allow arbitrary denominations based in other assets.

James

I'm a little unclear on this, so apologies if my understanding is flawed.

Could this be done atomically with chained transactions?

For example:
BTC -> NXT && NXT -> LTC
BTC -> NXT && NXT -> DOGE
etc...

Everything would be converted to NXT as intermediate hold, then immediately used to purchase the new asset.  If chained transactions can apply with atomicity, then goal is achieved.

except you get hit with bid/ask spread twice, instead of once. For low volume asset against NXT, the spreads could be unimaginably large. This is one of the big problems with ripple. everything goes through XRP and 5% spread one leg and 8% spread the other leg and it becomes untradeable.

Direct trading gives us the best advantage, well actually, it makes us the same as the exchanges as far as trading pairs

http://www.digitalcatallaxy.com/report2015.html
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March 06, 2014, 12:10:49 AM
 #40885

Is JL available for new dev core team consideration post CFB?
My understanding is that he is here long term

http://www.digitalcatallaxy.com/report2015.html
100+ page annual report for SuperNET
allwelder
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March 06, 2014, 12:12:30 AM
 #40886

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,
have broadcast this news to all Chinese group.

 
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chanc3r
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March 06, 2014, 12:19:12 AM
 #40887

Test net nodes: please update to 0.8.6, and delete your old blockchain.

done for

testnxt-*.cloudapp.net

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March 06, 2014, 12:21:51 AM
 #40888

What are all these
Code:
[2014-03-06 02:30:59.520] DEBUG: Blacklisting 162.217.203.172 because of: Signature verification failed
[2014-03-06 02:31:02.545] DEBUG: Blacklisting 162.217.203.150 because of: Signature verification failed
[2014-03-06 02:31:06.698] DEBUG: Blacklisting 162.217.202.154 because of: Signature verification failed
[2014-03-06 02:31:10.839] DEBUG: Blacklisting 162.217.203.28 because of: Signature verification failed
[2014-03-06 02:31:17.579] DEBUG: Blacklisting 162.217.202.172 because of: Signature verification failed
[2014-03-06 02:31:22.727] DEBUG: Blacklisting 162.217.204.40 because of: Signature verification failed
on testnet ? Huh
And very many
Code:
[2014-03-06 02:38:36.204] DEBUG: Dropping invalid transaction
nxt.NxtException$ValidationException: Asset aaab already exists
Why this "aaab" thing is repeating?  Shocked
I see "AAAb" asset, is somebody constatnly trying to register "aaab" and fails or is "aaab" somehow stuck in blockchain? Roll Eyes
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March 06, 2014, 12:27:20 AM
 #40889

Is JL available for new dev core team consideration post CFB?
My understanding is that he is here long term

JL, can you confirm this? The community is just trying to take stock of who is and isn't on-board for the months to come.
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March 06, 2014, 12:30:50 AM
 #40890

Transaction fees: I feel we should switch over to a 1% transaction fee with a cap of 1 Nxt, instead of the way we have it now.

Or even a 0.4% transaction fee, cap of 10 Nxt.. point is I think we need a percentage fee with a cap structure so that micro transactions are both possible, yet we can feed the forgers something.

I've already seen a few places where people are thinking that because Nxt has a fixed transaction fee, it's going to stay that way, which would prevent the price from rising, and strongly feel that we need a percentage plus cap structure to allow micro-transactions.

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CommanderVenus
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March 06, 2014, 12:37:52 AM
 #40891

I just installed "version":"0.8.6" for windows and i cant unlock my account now. Im synced up to "numberOfBlocks":81669.

BTC: 1VenusEubcLC9W7ykckHbdEzo5MVhPmCb
NXT: 15182624396855992605
BTQ: 14b2QFPwFtBC3tcRW9F61aaRXP2ns3fh1m
allwelder
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March 06, 2014, 12:49:01 AM
 #40892

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!!!

done.
Thanks for broadcast this vote news again.

 
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March 06, 2014, 12:54:39 AM
 #40893

Transaction fees: I feel we should switch over to a 1% transaction fee with a cap of 1 Nxt, instead of the way we have it now.

Or even a 0.4% transaction fee, cap of 10 Nxt.. point is I think we need a percentage fee with a cap structure so that micro transactions are both possible, yet we can feed the forgers something.

I've already seen a few places where people are thinking that because Nxt has a fixed transaction fee, it's going to stay that way, which would prevent the price from rising, and strongly feel that we need a percentage plus cap structure to allow micro-transactions.

+21

NXT: 4957831430947123625
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March 06, 2014, 12:58:19 AM
 #40894

I just installed "version":"0.8.6" for windows and i cant unlock my account now. Im synced up to "numberOfBlocks":81669.

This agrees with the last block I'm seeing here:

81680      3167098051496568638      6/3/2014 01:54:51

What's the problem when you try to unlock your account?
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March 06, 2014, 01:20:28 AM
 #40895

I should probably mention that im coming from "version":"0.7.6" and i first noticed that the getstate port changed from 7874 to 7876, but that wouldnt affect unlocking i think. Not that any of that matters anyway because running the server only depends on what is inside the directory of where you run it from.

So i extracted 0.8.6 to a brand new directory and the only files that came with the release are in that directory. I ran "run.bat" and it synced up, i know this by checking getstate. When i attempt to unlock my account (by going to https://127.0.0.1:7875/) i put in my Secret phrase, click the "Unlock Account" button, and then the button grays out and the screen just sits there. When i getstate it shows: "numberOfUnlockedAccounts":0.


BTC: 1VenusEubcLC9W7ykckHbdEzo5MVhPmCb
NXT: 15182624396855992605
BTQ: 14b2QFPwFtBC3tcRW9F61aaRXP2ns3fh1m
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March 06, 2014, 01:23:53 AM
 #40896

I like this for Nxt marketing….

http://www.theverge.com/2014/3/5/5469510/native-americans-assert-their-independence-through-cryptocurrency-mazacoin

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March 06, 2014, 01:31:58 AM
Last edit: March 06, 2014, 01:44:51 AM by Pouncer
 #40897

Funding issues
Some thoughts in response to recent discussions.

To put things in perspective, let's see what is being done and has been done in the area of funding.

What is currently available for spending:
We have over 12 million NXT available at the community's disposal for a very long time. If we include the 5M pledged by Mr 47, we're looking at over 17 million. Bulk of this ammunition has been sitting idle due to problems obtaining consensus. Remember how long the unclaimed funds debate dragged on? That's the price we have to pay for decentralization.

We are now days away from finalizing the various committees. Once that's done, they should, in short order, be able to deploy that sizable stash of reserves to fund urgently needed activities.

What has already been donated and spent:
Newer members of our community may not be aware that substantial amounts have been donated by founders during the early days, and some continue to do so till this day. Some prefer to donate publicly, others prefer to do so anonymously. So, besides the 17M currently available, many more millions had already been spent to promote and strengthen the Nxt ecosystem. If you don't see them, it does not mean that donations were not being given.

What about apparently inactive founders?
Numerous nasty, and often unfounded, comments have been thrown at founders. These are not helpful, and will only have the effect of turning away these so called whales instead of engaging with them. I wonder if more will be actively engaging if there had been less of these negative attitude. Please realize that one way or another, founders have made a collective effort to help bring Nxt to where it is today. I see 3 broad strategies adopted by the founders to achieve this:-

Strategy 1 (Short term)
Some have chosen to take the strategy of distributing NXT fast by selling very cheaply immediately after launch. Look at the early posts in the trading thread. Many of you benefited directly from these founders' strategy.

Strategy 2 (Medium term)
Others have chosen to take the strategy of distributing NXT further down the road (after the dust has settled from the early fire sales), by donating through bounties and other means. This group provided the fuel to power the Nxt economy through the stormy days of DDoS and subsequent building of the Nxt infrastructure to the state we see today.

Notice that if all founders had chosen strategy 1, we would not have seen the increase in the value of NXT. This will not have provided the incentive for early adopters to continue working on the project. It would also not have drawn in new investors. On the other hand, if all founders had chosen strategy 2, nothing would have moved and all their NXT would be worth nothing. You can see that there is a very delicate balance between these 2 strategies. They compliment each other, and they have managed to keep this delicate balance in a decentralized manner without having to collaborate like a cartel!. It's market forces and collective wisdom at play.

Strategy 3 (Long term)
All eyes are on a very small number of large founder accounts that don't seem to move. This, I think are founders who are taking a long term strategy. These founders have decided to hold substantial amounts to act as possible network defender of last resort. They provide the ammunition needed to fight off yet unknown threats which may require a large stake to defend or to fund more costly development and infrastructure further down the road. A possible example is Mr 47. If you think carefully (read between the lines) about his last 2 conditions, you'll see how that falls under strategy 3.

If we don't lose sight of the forest for the trees, we can see that free market forces and collective wisdom of all well-meaning stakeholders ultimately work towards the strengthening of the Nxt ecosystem. More engagement and less non-constructive criticisms will certainly help.

Finally.... back to funding for the core dev team, and for that matter funding for marketing & infra. I do not think founders will continue to pile more NXT into the funds if they remain underutilized. Once the committees begin to spend the funds wisely and prudently (showing results), and when it begins to run low, I am pretty sure founders and early adopters will step up to the plate. I will be one of them.

In the long term, I do not think the community should be remain reliant on central funding for building the Nxt ecosystem. While it is essential during these early days (as a bootstrapping measure), the ecosystem should develop in such a way that it will become profitable to build services. Taking Bitcoin as an example, save for Gavin, all other developers (core, client, infra) continue to support the ecosystem through indirect "privatized" means. If we continue to pick up traction, we may be there sooner than we think.


NXTtechdevfund  GPG Key ID: 0x903BC112
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March 06, 2014, 01:33:21 AM
 #40898

I got bad luck (and 200+ views) by posting in the wrong place.  

Here's an update.  Cool

NXT Newsletter thread has moved to:
https://bitcointalk.org/index.php?topic=502985.msg5537175#msg5537175

New UPDATE Category on Nxter.org.

The Nxt Newsletter has been praised, but Nxt is moving fast. Daily Summaries and a weekly newsletter just isn't enough, if you want to stay in the loop with a truly decentralized project that holds so many possibilities. Innovations and groundbreaking features are being built into the Nxt core and on top of Nxt every day. Nxt is innovation based upon Bitcoin's approach, but it's coded from scratch, energy efficient, PoS, with Colored Coins, Alias system, Anonymous Transfers and AC built in.

Join the newsletter HERE.
Subscribe to the rss feed HERE, or get these updates through TWITTER.

The sources for the updates on Nxter.org are (as always) our various Nxt BCT threads and Nxt forums.
If you are the one going to make the news, send a private notice to Nxter.org HERE or do it publicly HERE.



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March 06, 2014, 01:35:20 AM
 #40899

So i extracted 0.8.6 to a brand new directory and the only files that came with the release are in that directory. I ran "run.bat" and it synced up, i know this by checking getstate. When i attempt to unlock my account (by going to https://127.0.0.1:7875/) i put in my Secret phrase, click the "Unlock Account" button, and then the button grays out and the screen just sits there. When i getstate it shows: "numberOfUnlockedAccounts":0.

In the last releases SSL is by default disabled. Have you enabled it in the properties config file? Otherwise, you should be accessing through http://localhost:7875.
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March 06, 2014, 01:38:15 AM
 #40900

http://www.reddit.com/r/CryptoCurrency/comments/1zo234/i_am_doing_some_research_and_would_like_to_hear/

A guy is asking for
Quote
"I hope to be able to compare Ripple, Ethereum, Mastercoin, NXT and Coloured Coins - what features they offer, what advantages they have over one another, what are the drawbacks to various approaches taken and so forth.
I would like to know your opinion on what are the strengths and weaknesses of the above mentioned systems. Why do you think one is better than the other? Which one will be the one most widely used and why?"
Not very important, but still a good training

UPDATE: this is indeed important. he is the mod of /r/bitcoin and well respected!

Someone please answer him !!

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