NXT :: descendant of Bitcoin - Updated Information

[Mistafreeze]

Can I get some test Nxt to 2296334673562181299?

Please and Thx

[btc2nxt]

about AE test

1. balance=2864
2. ask order (my asset)
  quantity:15, price=200(2nxt) fee=1
  quantity:10, price=300(3nxt)  fee=1
  balance=2862 Ok
3. bid order (my asset)
  quantity:25, price=300(3nxt)   fee=1
4.balance=2846
  should be 2864-3=2861
  so 2861-2846=15 is lost ( 25*3-15*2-10*3=15 )

test Ok  in .8.6

cancelling a order, there are two results :
e.g.
1. ask order
    quantity:5, price=100(1nxt) fee=1
    wait a minute, confrimed.
2. bid order
    quantity:4, price=100(1nxt) fee=1  
    not confrimed yet
3. cancel the ask order

two results:
2.bid order win ,confirmed before the cancelling ask order
  so order matched, and the left ask order cancelled ( quantity:1, price=100(1nxt))
3. cancel ask order win, confirmed before the bid order
  so bid order don't change, ask order all is cancelled.

test Ok  in .8.6

[TwinWinNerD]

There are donations coming our way again?

I most definatly wouldn"t mine done

[Jerical13]

Is anyone knowing what we paid for?

Yes. Refactoring, consulting, some extra functionality like API calls.

how do we know you actually delivered what BCNext has paid for is better formulated.

how do we know you did all what he asked?

Who will communicate with BCNext in April after CFB departs?

Uncertainty about the core dev team isn't instilling much confidence in investors and current holders. Investors will stay away until this confusion and uncertainty disappears.

Friends of mine have no idea which client to download so are keeping their NXT on exchanges. They won't do anything until there is a one click install that works. They ask me which one is the 'main' website. All they want is to Send/Receive and not lose any NXT. No messing around with batch files, firewall settings, testnet and having to update twice a week. They don't even want to know about forging.

I'm sure it wouldn't be difficult to promote one simple client that works and isn't going to freak out newbies. Can someone design a simple, safe, client that just sends and receives? I can assure you that would make so many people happy. Most newcomers aren't going to use all the other features they don't even understand, at least not yet. Forging is not an issue for them and don't care about that because they own 5k to 10k. None of their other coin wallets make any money and they don't expect NXT to either. They just want to send and receive and know their wallet is safe (secure password of course) It's that simple.

Does this make sense to anyone and does anyone have any ideas about how we arrive at one website and one simple client.

All my friends asks the same

I agree completely with all of the above.. 5-6 people that I got into NXT are asking me the same question. For 3 of them I am holding NXT because they are freaked out they will mess up something since and lose their investment. Problem with a client exist. i mean we are launching an AE and we still don't have a go to client. And one might say how we have several clients out there, but they are all half working or if I am wrong than we should just choose the best one and offer it to the people..

Nexern client I won't even mention anymore. I doubt we will ever see it.

I really do not understand where the problem lies? The whales could easily support two developers FULLTIME to finish a client within a month.

Instead of whining about the big holders not footing the bill for all the work that needs to be done, maybe we should see how much the community at large is willing to invest in developing a client, then ask if one or 2 whales would be willing to match funds? For example, if a bunch of participants in this thread make pledges totaling, say, 500,000 NXT, one of the 50Mil holders could match that, making for a total of 1 million to go to the person or persons who can deliver a working, user-friendly client. I, for one, would be willing to contribute 500 NXT

That sounds like a reasonable approach. But I would suggest coming up with a specified list of REQUIRED criteria and functionality features and then translate that into a cost approximation for development, just to have some sort of goal to shoot for when raising the funds.

It may be advantageous to hold a military style competition for client submissions from developers. Set a list of required specifications that have to be met (pass, fail system of grading), then all clients that meet required criteria would be judged on qualities beyond requirements. Winner takes the bounty or the lions share of the bounty.

[allwelder]

2nd BTC38 thread.. let's show some Nxt love:

https://bitcointalk.org/index.php?topic=501433.msg5519400#msg5519400

yes,lets to show our warm and support.

[gs02xzz]

CFB, are you the only one communicating with BCNext? Who will be in touch with him when you depart in 3 1/2 weeks?

He had left the day before Nxt source code became public. Went for good to work on other things. I'll get 3rd part of the plan in April but I can't contact him anymore.

this explaines why he also stopped logging to his original 3 years old account 3 days before release of the source

Can you reveal the user name?

[Mistafreeze]

Installer for 0.8.6 TestNet with Wesley's interface will be released in the morning.

Night y'all.

[evanxxx]

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 

[Jerical13]

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

I think you could still do this with explicit trading pairs of BTC->LTC and BTC->DOGE, etc, and get a single spread.  The conversion to NXT would be behind the scenes, and denomination in NXT would become wholly unimportant for that trading pair (ie: the explicit trading pairs in/out of NXT would be completely unrelated).  Work would be in client, and not in core.

Some small transaction fee would need to be accounted for in NXT and siphoned as a trading fee.

(note: this assumes the premise that chained transactions are atomic).

Here's how I would approach it:
Step 1) allow trading Nxt against the top ten most popular coins directly to and from those coins

Step 2) Enable trading one coin for another using the BTC -> NXT && NXT -> LTC approach as a starting point to quickly allow that kind of trading between any different crypto pairs.

Step 3) Start allowing the trading of coins against other coins, again starting with the most popular, continue slowly adding more coins directly tradeable against Nxt as well.

Step 4) Do something along the lines of automatic arbitrage, let's say I want to trade Litecoin for Dogecoin, you look at all the other coin pairs that are being traded and find that the gap is smaller if you trade them through Bitcoin, so list that as a potential 3 way trade.  Nobody has to know that when that order completed, they didn't actually send Litecoin to someone in exchange for Dogecoin but actually had 3 trades execute simultaneously.  Potentially you could expand this to to 4 or 5 or 6 way trades, though at some point it just doesn't become worth it.  In this way, you actually close that gap between all the various cryptos.

Also, every time you trade a coin pair, keep in mind you'll have to feed the forgers, so the more people use us to trade coins in general, the more value Nxt becomes as forgers earn more of them.

I'd do this type of arbitrage on computers that are open to forge but not actively processing transactions but more or less sitting around idling.. eventually they'll also be doing decentralized computing for us.

Could the idea of a wallet client that could handle several different coins be of value or help to fill a similar purpose to what you are talking about? An asset wallet? Or am I misunderstanding your meaning?

[chinabreak123]

Some question about AE:
NO.1
When i issue a new asset,example.NEM,quantity：10000,this spend me 1000nxt,and then there are 10000NEM in my account,i can start exchange.
 
But,i don't get the real 10000NEM,who can ensure i'm not a cheater?
 
When some others make a sell/buy order ,like NEM/NXT,they also don't get the real NEM,if someone buy it,who will send him the real NEM?

Who can give me a explanation？
Thanks a lot

NO.2
When i issue a new asset,i'm became the "gateway" of this asset?

[Jerical13]

Some question about AE:
NO.1
When i issue a new asset,example.NEM,quantity：10000,this spend me 1000nxt,and then there are 10000NEM in my account,i can start exchange.
 
But,i don't get the real 10000NEM,who can ensure i'm not a cheater?
 
When some others make a sell/buy order ,like NEM/NXT,they also don't get the real NEM,if someone buy it,who will send him the real NEM?

Who can give me a explanation？
Thanks a lot

NO.2
When i issue a new asset,i'm became the "gateway" of this asset?

if I have interpreted the information right, If you issue an asset you have no association with the gateway; anyone who trades with you does so strictly on a personal trust basis. Gateway assets are not self issued, but are actually backed by real assets that are held in a special account to guarantee there security.

[2Kool4Skewl]

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

@2Kool4Skewl,
Could you help to add this vote on the first page of this thread for more pp to vote for?
TKS.

+1. Please add it to the first page.

Added.

[wwdz99]

2nd BTC38 thread.. let's show some Nxt love:

https://bitcointalk.org/index.php?topic=501433.msg5519400#msg5519400

yes,lets to show our warm and support.

Done.

[chinabreak123]

if I have interpreted the information right, If you issue an asset you have no association with the gateway; anyone who trades with you does so strictly on a personal trust basis. Gateway assets are not self issued, but are actually backed by real assets that are held in a special account to guarantee there security.

Thanks.
But still not sure about it

[rickyjames]

NXT FUNDING COMMITTEE VOTE IS NOW UNDERWAY UNTIL 12:01 AM MARCH 8 (UTC)

Per our previous poll, all three committees (NXTmarketingfund, NXTtechdevfund and NXTinfrastructure fund) will consist of five elected members.

Read candidate statements here:

https://bitcointalk.org/index.php?topic=479167.msg5280476#msg5280476

Background:

https://bitcointalk.org/index.php?topic=345619.msg5280786#msg5280786

DETAILS ON VOTING :


NXTers WHO HAVE POSTED 5-9 TIMES TO THIS THREAD PER NEWCN'S LIST BELOW : IF YOU WANT TO VOTE, PM ME AND I ***WILL*** SEND YOU A BALLOT CODE.

LIVE ONGOING VOTE RESULTS:

https://www.electionbuddy.com/elections/12343/results/t34ayqhm2

Update:  With 44 hours to go in this election,  I have now distributed 385 ballot access codes so far to nominees, candidates, everybody that has ever posted 10 or more times to this thread per newcn's list of most active posters (see https://bitcointalk.org/index.php?topic=345619.msg5456233#msg5456233 ), and various PM requesters not included in the above.  I am caught up and have no outstanding PM requests for ballot codes at this time.  

This election is winding down and due to my efforts at Texas Bitcoin Conference I will not be sending any more unsolicited ballot codes.  I believe the numbers indicate that we have hit the law of diminishing returns on sending out additional ballots.  I believe the end results of this election will constitute a fair, honest and successful effort to empanel all three NXT funding committees.

BOTTOM LINE: At this time 209 of the 385 distributed ballot access codes have been used to vote.   There are 176 unutilized and 115 undistributed ballot access codes still available.

[2Kool4Skewl]

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.

Ok.  All fees go to the genesis account.

If you send the fees to the genesis account you will destroy NXT because you will eventually run out of NXT.

With or without pooled forging, people with more NXT will get more NXT by forging.  People should view NXT as non-depreciating mining equipment.  The more NXT you own, the more NXT you will receive.  I'd rather purchase NXT than an ASIC because an ASIC will depreciate and I will earn less and less with my ASIC.  With my NXT, I will always recieve "MY NXT AMOUNT" / 1,000,000,000 NXT x 100% of the network's transaction fees.

[xyzzyx]

Ok.  All fees go to the genesis account.

If you send the fees to the genesis account you will destroy NXT because you will eventually run out of NXT.

Nothing lasts forever.

[2Kool4Skewl]

Ok.  All fees go to the genesis account.

If you send the fees to the genesis account you will destroy NXT because you will eventually run out of NXT.

Nothing lasts forever.

At 1 NXT tx fee, all the NXT would be depleted in under eight years if the network was under full load.

You should incentive people to forge.  By removing NXT tx fees, even less people will run a node to secure the network.  I do agree with BCNext that TX fees should be lowered.

[xyzzyx]

Ok.  All fees go to the genesis account.

If you send the fees to the genesis account you will destroy NXT because you will eventually run out of NXT.

Nothing lasts forever.

At 1 NXT tx fee, all the NXT would be depleted in under eight years if the network was under full load.

The ROI would be phenomenal.  I like this idea even more now.

[2Kool4Skewl]

Ok.  All fees go to the genesis account.

If you send the fees to the genesis account you will destroy NXT because you will eventually run out of NXT.

Nothing lasts forever.

At 1 NXT tx fee, all the NXT would be depleted in under eight years if the network was under full load.

The ROI would be phenomenal.  I like this idea even more now.

LOL

We are interested in building a self-sustaining, perpetual network, not in quick ROI.