NXT :: descendant of Bitcoin - Updated Information

[BitcoinForumator]

Are you sure BTC38 is gonna add NXT? He explicitly said that?

The Vertcoin is 1st now in the voting.

[Asian Prepper]

2nd video from the 2014 Texas Bitcoin Conference:

http://prisonorfreedom.com/how-to-get-free-nextcoins-nxt-2014-texas-bitcoin-conference/

Enjoy
Tai Zen

[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 :

THE LIST BELOW INCLUDES ALL NXTers ON NEWCN's LIST OF 500 NXTers WHO HAVE POSTED TO THIS THREAD 9 OR FEWER TIMES AND WHO HAVE NOT APPLIED FOR OR RECEIVED A BALLOT CODE.  IF YOU ARE ON THIS LIST AND YOU WANT TO VOTE, PM ME AND I ***WILL*** SEND YOU A BALLOT CODE.

Code:

zerocom, tillou, stdset, nxtuser, nelisky
markus1000, marcoslopez, jelin1984, extee, dittie
cfrm, bittick, Xtar, X68N, Tompa
Thingamajig, ThePatient, Nyx, Edacra, Dps23
DeadlyEskimo, zakorus, ycm82, tooroth, stereotype
nxt-e.com, noashh, hyunsookmom, hobbster, halabibk
drdops, demols, btcruss, asdlolciterquit, aorith
Xio, X_X_X, N[e]wBie, MtheK, Kaliber1
Istanbul34, HinnomTX, Gaman, wastedbit, sussex
skytaper, shinep, maratmmz, hoax, eXtatiC
canuck, bitfromit, bitbets, arafel71, Stark-Fujikawa
Snard, Kmonk, Jaguar0625, Jackevin, JKBtCn
Gonzo418, CommanderVenus, Boiar, subhead, spud3861
sherrifshenko, pilotbo, naurisdede, mvag, mellorbo
jdebunt, fehen, dulinxu, dawn, cryptohunter
cryptobanks, bitoktlk, bitcool, SpeedDemon13, Rluner
Morguk, Luceat, Lubliana, JohnDoe21, Jcsarokin
GroinCoin, xyz, virtualaddict, techo051, stamen123
slothbag, shoichikun808, schnib12, rmKHT, panhc2014
ojman28, neonemu, nemra, mishan, mikaljan
jari76, hilotime, gobpaul, dudenohair, dave5555
crendore, coloredcoin, boredeo, axxian, alexrussel1980
Xandrexx, Voodah, Sondey10mg, Silv0r, Orrechorre
MrFring, LiveFree, Fastpow, FandangledGizmo, Elokane
CCInvestor, Boing7898, wezelvis, vgo, usafinders
td services, tadakaluri, standards, soho01592, slavo
simpleunit, sava0123, rigel, rajc, podohost
lovebit, loumatrix, larue05, kitkat007, jenya-les12
jchi18, hichman, furball, freedomfighter, ewibit
esse83, datguyian, cxhjmfl, chindit, aan
User500, Trade101, TM, Sparky_eMunie, PiNX
Mogly

THE FOLLOWING NXTers HAVE AN UNUSED BALLOT CODE SITTING IN THEIR PM INBOX:

Code:

2X84, 4747...888, 96redformula, admiral.fu, Agent86
alexzhangmeng, ArcticWolfie, Ardolafat, artik123, artila
barklay, BCNext, BitAddict, BitCoiner2012, bitcoinrocks
bithic, bitmadaboutcoin, bitme, blackfyre175, btc24
bybitcoin, Chang Hum, CoinBuzz, Coinsy, colinistheman
Come-from-Beyond, coolmist, crazybonkers, CrazyEyes, cromaclear
cryptolawyer, d5000, davidoski, delulo, DiCE1904
dr_yan_yan, DrBeer, drevil, Ebrelus, eid
erik__, Fern, Forobitcoins, FrictionlessCoin, Fry
garcias, garp, gbeirn, getfun12345, gimre
giveBTCpls, greyw00lf, grizmoblust, GröBkAz, GYT_Anonymous
Hegemon, idev, ifightformerkel, inkadnb, IveBeenBit
jackyrozario, jettico, Jimmy2011, JohnyCrypt, josephliton
joshuasaurus, jubalix, killver, kknk808, KLONE
Kodoka, Kontakt, kpax7788, Krabby, kunibopl
L5Society, Labteck, Ladeco2014, laowai80, LightningFury
loopgate88, lophie, lr127, luckygenough56, luizchen
Mac Red, maco, manrus, markn, matt4054
matt608, maxbit, McDoxy, mczarnek, Meizirkki
Mises_77, morningtime, mr_random, mudshark79, mww
nadrimajstor, nesco1805, nnn, nov, NWO
NxtChg.com, nxtgt, OKNXT, Pablito89, pabloangello
ParmaBTC, Patel, PaulyC, PeercoinEnthusiast, pmabdsf
podyx, POPPP, professorhandsome, psybits, qbd1313
qqNxt, r3animation, rb2, relm9, rickyjames
Ricot, rnr, sherpico77, smoohaha, snowboard789
sparta_cuss, subSTRATA, superresistant, swansong, SZZT
Timetwister, tk808, tman10, trefifund, twistelaar
tylerbrad85, user1922, User705, vanea84, verymuchso
ViktorK, vintagetrex, visaco, wakasaki808, wizzardTim
xadidos, xgc, xibeijan, yan83, yassin54
yuriygeorge, zhangdu

LIVE ONGOING VOTE RESULTS:

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

Update:  With 10 hours 45 minutes to go in this election,  I have now distributed 393 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 238 of the 393 distributed ballot access codes have been used to vote.   There are 155 unutilized (sitting in somebody's PM mailbox) and 108 undistributed (still on my computer) ballot access codes still available.

[Daedelus]

Yep... I think you are right... unfortunately... to lots of this discussion is irrelevant..

Quite likely BCNext studied Ripple closely (maybe even worked on it) and thought PoS could be a less "centralised looking" method of consensus than the "federated servers" model.

Anyway - at least I now have a much better understanding about "what the plan" is (or at least was) - I guess it is now up to the community to decide whether to follow this plan or create a different one.

This makes me think about the long term value of Nxt. I understand Nxt was always intended for businesses (Wall street guys in CfB speak) as a new platform. BCNext doesn't want "miners" involved and the few remaining will be shaken out when fees drop to ~0 but this will also make Nxt attractive to businesses (they may get 100-1000 transactions for the price of one).

I see the long term value of Nxt tokens being a function of:

i) Savings from transaction fees. Edit for clarity: They move from a normal 2-3% ish of now to Nxt 0.0001% per transaction.
ii) The risk businesses are willing to take to ensure the continuation of ther platform (i.e. buying stake and supporting the network). Consider these as Business Insurance Premiums.

I can't see Nxt tokens being worth close to zero under these conditions (cheap ones will be bought up by the most established businesses before it got close to zero), nor can I see them going "to da moon" as it would be a barrier to entry for new businesses.

Jl777, you seem to be the most advanced down the route of visualising and setting up businesses with high numbers of transactions. Any thoughts?
  

[jl777]

Yep... I think you are right... unfortunately... to lots of this discussion is irrelevant..

Quite likely BCNext studied Ripple closely (maybe even worked on it) and thought PoS could be a less "centralised looking" method of consensus than the "federated servers" model.

Anyway - at least I now have a much better understanding about "what the plan" is (or at least was) - I guess it is now up to the community to decide whether to follow this plan or create a different one.

This makes me think about the long term value of Nxt. I understand Nxt was always intended for businesses (Wall street guys in CfB speak) as a new platform. BCNext doesn't want "miners" involved and the few remaining will be shaken out when fees drop to ~0 but this will also make Nxt attractive to businesses (they may get 100-1000 transactions for the price of one).

I see the long term value of Nxt tokens being a function of:

i) Savings from transaction fees
ii) The risk businesses are willing to take to ensure the continuation of ther platform (i.e. buying stake and supporting the network). Consider these as Business Insurance Premiums.

I can't see Nxt tokens being worth close to zero under these conditions (cheap ones will be bought up by the most established businesses before it got close to zero), nor can I see them going "to da moon" as it would be a barrier to entry for new businesses.

Jl777, you seem to be the most advanced down the route of visualising and setting up businesses with high numbers of transactions. Any thoughts?
  

Um, I usually have some thoughts

Actually today I am highly distracted. I got hit by an idea that is leading to other ideas which lead to other ideas, ...
As it relates to this question, I am exploring what could be done if ALL accts did at least one transaction per day. Currently that would generate a little bit more in fees than historical averages

There are some pretty amazing things that become possible at .1 and .01 NXT per transaction. More after I refine idea a bit more

James

[btc2nxt]

to cc001
Would you rewrite the 7 cases i posted

i've just placed 100 bid orders on the same asset
time is 4 minutes .

if 100 tester bid  for a same asset at same time ,we would have a 10K bids

I will try to implement/use/test some scripts or tools to perform such tests during the weekend. I guess you are the "tulip"-guy on the testnet?
did you use a script to place these 100 orders?

Yes
After some modification , i will share my test tool(window platform)

[cc001]

did you use a script to place these 100 orders?

Yes
After some modification , i will share my test tool(window platform)

Well, sharing is always welcome, but I don't use windows

[Uniqueorn]

fallen behind vertcoin! please vote to get nxt on btc38!!!

https://bitcointalk.org/index.php?topic=501963.0;topicseen

Nxters,Plz stop voting on BTC38's thread.
They are just kidding.
They have added other shit coins.
We dont need BTC38.


STOP VOTING ON BTC38.

Sure this isn't just because it takes a lot longer to implement NXT?
Have they said "HAH FUCK YOU NXT!" ?

[Daedelus]

Yep... I think you are right... unfortunately... to lots of this discussion is irrelevant..

Quite likely BCNext studied Ripple closely (maybe even worked on it) and thought PoS could be a less "centralised looking" method of consensus than the "federated servers" model.

Anyway - at least I now have a much better understanding about "what the plan" is (or at least was) - I guess it is now up to the community to decide whether to follow this plan or create a different one.

This makes me think about the long term value of Nxt. I understand Nxt was always intended for businesses (Wall street guys in CfB speak) as a new platform. BCNext doesn't want "miners" involved and the few remaining will be shaken out when fees drop to ~0 but this will also make Nxt attractive to businesses (they may get 100-1000 transactions for the price of one).

I see the long term value of Nxt tokens being a function of:

i) Savings from transaction fees
ii) The risk businesses are willing to take to ensure the continuation of ther platform (i.e. buying stake and supporting the network). Consider these as Business Insurance Premiums.

I can't see Nxt tokens being worth close to zero under these conditions (cheap ones will be bought up by the most established businesses before it got close to zero), nor can I see them going "to da moon" as it would be a barrier to entry for new businesses.

Jl777, you seem to be the most advanced down the route of visualising and setting up businesses with high numbers of transactions. Any thoughts?
  

Um, I usually have some thoughts

Actually today I am highly distracted. I got hit by an idea that is leading to other ideas which lead to other ideas, ...
As it relates to this question, I am exploring what could be done if ALL accts did at least one transaction per day. Currently that would generate a little bit more in fees than historical averages

There are some pretty amazing things that become possible at .1 and .01 NXT per transaction. More after I refine idea a bit more

James

Sounds mysterious, I see you have been speaking with CfB too much.


Also, if I understand correctly (I'm not sure I do), there will need to be a network of powerful kit to do the heavy lifting to allow high numbers of transactions. The cost of this isn't likely to be covered by the 'income' from forging. So it will be an additional cost and so who will pay for this?

This will be a burden on the grocer and the corner shop. It will be an additional expense for the multinational engineering firm or advertiser but they might be persuaded possibly. So the only group likely to accept this burden as it would probably lighten their existing burden is... the banks?

Are multinational banks likely to make up a large chunk of the Nxt backbone in the future? If so, I'd guess marketing won't be happy.

[Eadeqa]

But otherwise *yes* it would appear the plan was always to try and be more like Ripple than Bitcoin (and BCNext's comment that he didn't want NXT to really be worth anything is very reminiscent of Ripple's earlier statements about XRP being like "stamps").

Ripple does have value, as without value it will be useless. Since there are  100 times less nxt, one nxt should be 100 times more valuable than one ripple (if all the ripples are distributed, which they are not).

[^[GS]^]

Someone else noticed? 


NXTio updated to 0.8.8!

Vote for my in NXTinfrastructure Committee!!
https://www.electionbuddy.com/elections/12343/results/t34ayqhm2

[v39453]

Has somebody thought about the Decentralized App Store written by BCNext:
https://bitcointalk.org/index.php?topic=317607.0 ?

Or could we have decentralized buying and selling of files (with any content)?

How about this:

1. Seller generates a random key and encrypts the file to be sold.
2. Seller stores the file somewhere on the net, and announces what he is selling (either on the blockchain or outside the blockchain).
3. Buyer sends NXT to seller.
4. Seller sends a message to the buyer with a download link and the key generated in step one.
5. Buyer downloads the file and decrypts it.


Would somebody like to work on this for a bounty?

Well, good to have people remembering all the ideas. Could you create a thread for that and tell Damelon to include it to its NXT threads website?

I'll use the original thread by BCNext.

I was also thinking about the typical use cases for buying/selling stuff with NXT. The asset exchange as it is now implemented on the test network covers some of them, but not all.

Here are some use cases:

1. Selling an item that has a limited supply and that can be re-sold, for example stock for a company. This is what is implemented currently on the asset exchange on the test network. Seller wants to pay a listing fee and to spam the global namespace in the asset exchange.

2. Sale of digital goods. There is an unlimited supply. Items are not re-sold. Prices are typically low. Seller doesn't want to pay the listing fee on the asset exchange. This is what the previous message talked about. This would need a standardized message format, user interface and a place to store the files outside of the blockchain.

3. Mail-order. Seller sends stuff in the mail. Items are not re-sold. This would need a standardized message format, and a user interface.

In 2 and 3 there is also the question of whether the seller wants to declare the items to be sold on the blockchain. If he has a big list of items and low prices he can publish this information on a website to cut down the costs.

If there is more discussion I'll continue on the other thread.

[mcjavar]

Someone else noticed? 

Well, it´s because of the 1 billion coins.

[CIYAM]

Ripple does have value, as without value it will be useless.

Actually not quite true - the value is simply that they are scarce** and every time you transact you have to "burn them" (and your account needs to have x amount before you can transact).

** When you consider just how many XRP there are then the word "scarce" is not quite the same as NXT or BTC in particular.

Thus the only reason you should *want* XRP is if you want to use Ripple - but as pretty much no-one is using then currently the only reason anyone has been wanting XRP is to speculate (which is not its purpose - it is just an anti-spam device basically).

To be clear - BCNext wanted NXT to function similarly to XRP and therefore not to have any value of "speculation" other than what the market deems necessary in order for people to perform the transactions that they need.

[NxtAppStore]

Has somebody thought about the Decentralized App Store written by BCNext:
https://bitcointalk.org/index.php?topic=317607.0 ?

Or could we have decentralized buying and selling of files (with any content)?

How about this:

1. Seller generates a random key and encrypts the file to be sold.
2. Seller stores the file somewhere on the net, and announces what he is selling (either on the blockchain or outside the blockchain).
3. Buyer sends NXT to seller.
4. Seller sends a message to the buyer with a download link and the key generated in step one.
5. Buyer downloads the file and decrypts it.


Would somebody like to work on this for a bounty?

Well, good to have people remembering all the ideas. Could you create a thread for that and tell Damelon to include it to its NXT threads website?

I have start a new thread for NxtAppStore.
We can list all apps of Nxt there for discussion .
https://bitcointalk.org/index.php?topic=488417.new#new

[rickyjames]

Well, I am back from Texas Bitcoin Conference and it was an extremely interesting experience.

Marketing NXT at TBC was a frustrating experience.   Wed night late I went around and put the NXT brochure out on literally 1600 chairs in preparation for the next day.  At noon on Thurs I went around and picked up the unused ones.  We probably only had 100 or so that were kept.  Of course the conference only had around 600 people, far less than expected.  I have made arrangements to ship the rest out to NxtMinnow for San Francisco.  

The exhibitor area was kind of a joke.   Very few tables, very few people went through it.  I was wrong to push for a separate NXT table earlier, it would have been a waste.    

I was on the cryptocoin panel discussion which I think went very well.  The video will be out in a few days and I'll post a link.  There were maybe 30 guys in the audience and on a show of hands probably only 5 had even heard of NXT.

I made a lot of good contacts, including a writer for Bitcoin Magazine with whom I had a very long talk about NXT.  He is going to write an article on us.  This is probably the number one positive thing for NXT that has come out of the conference.

The interest in Etherium in the Bitcoin community is extremely strong.  This is a trend to watch.

People want to hear confident leaders on a stage.  People want to hear confident leaders  on a stage.  People want to hear confident leaders  on a stage. 

The thing that has surprised me most, the biggest insight of all, is how few people care about the technical side of Bitcoin.  Over 95% of the people there view Bitcoin as a social/political phenomenon and wouldn't care if it were powered under the hood by three witches cackling around cauldron of witches' brew.  Talking about the advantages of transparent forging over competitive mining or PoW vs. PoS or trusted gateways or pretty much anything we discuss in this forum is totally irrelevant to them and actually to the future of NXT.

We will only get the attention of the mass community of Bitcoiners if we come up with a marketing theme / campaign that engages people to adopt NXT.  The will not adopt NXT because it is better or technically superior.  They will only adopt NXT if it meets a need of theirs that Bitcoin does not already currently meet.  

This is why Doge is so popular and is even surpassing Bitcoin in many ways.  Doge meets a social need to feel connected to something warm and fuzzy that Bitcoin does not.

I am at a loss to figure out how NXT can pull off a similar viral meme feat.  But we need to figure that out, fast.

[Eadeqa]

Newsweek with egg on it's face

http://instagram.com/p/lOkjZbwXb5

[Fatih87SK]

Well, I am back from Texas Bitcoin Conference and it was an extremely interesting experience.

Marketing NXT at TBC was a frustrating experience.   Wed night late I went around and put the NXT brochure out on literally 1600 chairs in preparation for the next day.  At noon on Thurs I went around and picked up the unused ones.  We probably only had 100 or so that were kept.  Of course the conference only had around 600 people, far less than expected.  I have made arrangements to ship the rest out to NxtMinnow for San Francisco.  

The exhibitor area was kind of a joke.   Very few tables, very few people went through it.  I was wrong to push for a separate NXT table earlier, it would have been a waste.    

I was on the cryptocoin panel discussion which I think went very well.  The video will be out in a few days and I'll post a link.  There were maybe 30 guys in the audience and on a show of hands probably only 5 had even heard of NXT.

I made a lot of good contacts, including a writer for Bitcoin Magazine with whom I had a very long talk about NXT.  He is going to write an article on us.  This is probably the number one positive thing for NXT that has come out of the conference.

The interest in Etherium in the Bitcoin community is extremely strong.  This is a trend to watch.

The thing that has surprised me most, the biggest insight of all, is how few people care about the technical side of Bitcoin.  Over 95% of the people there view Bitcoin as a social/political phenomenon and wouldn't care if it were powered under the hood by three witches cackling around cauldron of witches' brew.  Talking about the advantages of transparent forging over competitive mining or PoW vs. PoS or trusted gateways or pretty much anything we discuss in this forum is totally irrelevant to them and actually to the future of NXT.

We will only get the attention of the mass community of Bitcoiners if we come up with a marketing theme / campaign that engages people to adopt NXT.  The will not adopt NXT because it is better or technically superior.  They will only adopt NXT if it meets a need of theirs that Bitcoin does not already currently meet.  

This is why Doge is so popular and is even surpassing Bitcoin in many ways.  Doge meets a social need to feel connected to something warm and fuzzy that Bitcoin does not.

I am at a loss to figure out how NXT can pull off a similar viral meme feat.  But we need to figure that out, fast.

Thanks RickyJames.

You are right about making NXT popular. We need to brand ourselves.
I will post some techniques how Retail markets are branding their brands like Gstar, Prada etc.

Maybe it can inspire us.

I heard Damelon is also busy to brand NXT.

[Uniqueorn]

Well, I am back from Texas Bitcoin Conference and it was an extremely interesting experience.

Marketing NXT at TBC was a frustrating experience.   Wed night late I went around and put the NXT brochure out on literally 1600 chairs in preparation for the next day.  At noon on Thurs I went around and picked up the unused ones.  We probably only had 100 or so that were kept.  Of course the conference only had around 600 people, far less than expected.  I have made arrangements to ship the rest out to NxtMinnow for San Francisco.  

The exhibitor area was kind of a joke.   Very few tables, very few people went through it.  I was wrong to push for a separate NXT table earlier, it would have been a waste.    

I was on the cryptocoin panel discussion which I think went very well.  The video will be out in a few days and I'll post a link.  There were maybe 30 guys in the audience and on a show of hands probably only 5 had even heard of NXT.

I made a lot of good contacts, including a writer for Bitcoin Magazine with whom I had a very long talk about NXT.  He is going to write an article on us.  This is probably the number one positive thing for NXT that has come out of the conference.

The interest in Etherium in the Bitcoin community is extremely strong.  This is a trend to watch.

The thing that has surprised me most, the biggest insight of all, is how few people care about the technical side of Bitcoin.  Over 95% of the people there view Bitcoin as a social/political phenomenon and wouldn't care if it were powered under the hood by three witches cackling around cauldron of witches' brew.  Talking about the advantages of transparent forging over competitive mining or PoW vs. PoS or trusted gateways or pretty much anything we discuss in this forum is totally irrelevant to them and actually to the future of NXT.

We will only get the attention of the mass community of Bitcoiners if we come up with a marketing theme / campaign that engages people to adopt NXT.  The will not adopt NXT because it is better or technically superior.  They will only adopt NXT if it meets a need of theirs that Bitcoin does not already currently meet.  

This is why Doge is so popular and is even surpassing Bitcoin in many ways.  Doge meets a social need to feel connected to something warm and fuzzy that Bitcoin does not.

I am at a loss to figure out how NXT can pull off a similar viral meme feat.  But we need to figure that out, fast.

Great work! I do expect a lot of these Bitcoin conferences to be quite dull compared to what a lot of people think.  Mainly tech enthusiasts and business men go there.


Ethereum is going to be a threat really soon, they got their legal issues sorted out now too and is going full on.

Re: DOGE, the problem here is that DOGE was a meme and it was minable. NXT isn't. NXT has to base itself on the technology itself. DOGE is a shitcoin in all aspects except for their community.
I don't think we'll ever get a VIRAL meme going like DOGE did, we have to go about it in A LOT of small steps rather than one big " WOW SO MUCH DOG PICTURE!".

[Asian Prepper]

2nd video from the 2014 Texas Bitcoin Conference:

http://prisonorfreedom.com/how-to-get-free-nextcoins-nxt-2014-texas-bitcoin-conference/

Enjoy
Tai Zen