NXT :: descendant of Bitcoin - Updated Information

[jl777]

I like James' way since the Nxt network would benefit from it, if I understand correctly. Parallel blockchains, on the other side, would lead to more technical possibilities. So, in deed, we should approach both ways.

But we should discuss when to use what and why and let CIYAM finish watching his movie.

No time for discussions today.

Now that I can reconcile asset balances, I feel some nodecoin code today. That was really the main holdup as it needs to monitor the issuer's asset balance in "realtime" to make sure the social contract on coin distribution isnt being violated. This social contract is essentially the same as bitcoins 21 million cap, as there is no reason why a new version cant come out (or bug not fixed) that violates the 21 million cap. Of course, any such violation would totally destroy the value of bitcoin (or any coin that violates), but not before Evil Bob cashes out whatever he can before the rest of the world realizes what happened.

Like with any coin, people using NXTcoins (that is what I call coins on top of NXT via AE) will have to trust the issuer of it to some extent. I cannot get rid of the one block delay from a violation of inventory management to detection. Originally, I planned to allow people to enable automatic cancellation of all AE bids upon detection of inventory anomalies. However, if there are large bids on the orderbook and the issuer sells into it, that cant be undone. I am now just planning on monitoring and displaying any violations.

What this means is that if there is a bid that is large enough that it is worth destroying the coin for, then unethical issuers could take advantage. However, as bad as that sounds, an active issue would have 5% of its market cap trading in a day, at any given time having bids than 0.5% of the total issue would be rare. For most coins it would be much smaller, so it would be in Evil Bob's interest to not destroy the coin as I will build in ways for coin issuers to get a royalty payment stream.

James

[BrianNowhere]

I'd just like to make a statement about the "initial distribution problem" if I may.

The initial stakeholders don't owe anyone here a goddamn thing. They took the huge risk by buying in early while everyone else called NXT a scam coin. They are under NO obligation to re-distribute the wealth to all those, including me, who missed out because of cynicism or ignorance or whatever. If NXT becomes a huge success, they and they alone deserve to be hugely rewarded for taking that risk. they have every right as free citizens of planet earth to do damn well whatever they please with their windfall.

That being said, if these stakeholders hope to see their investment mature to the point where they'll be able to perhaps buy a trip on Branson's Spaceship one day, they should invest in the future health of NXT in whatever way they see fit based on their own rational self interest.

There's no shortage of affordable NXT on the market. If you want some it's ripe for the picking on an exchange at mere pennies apiece. It's not too late to possibly book your own seat on a future Virgin voyage by simply not making the same mistake twice, taking a risk and buying some NXT. Then and only then will it will be your turn to decide how to invest your hard won investment in a way that you feel will make NXT grow even more.

I'm not a libertarian personally, but I really can't think of anything more free market than the way NXT has unfolded. I have no problem with the original folks being HUGELY rewarded because if they do then I'll be doing pretty good myself. It surprises me to see so many people in this community asking for socialism and redistribution of the wealth.

I am not saying that they should give out charity to all of us, I am saying that they should invest into product that they are also holding and holding by far the most comparing to all of us here. I mean this is a common sense. People that won't do that are by definition selfish, they don't want to part ways with one cent of their money and they don't want to contribute anything to the community by working here with us.
Sorry, but to me all of this makes no sense!
For example, Klee is definitely not one of those people!!

I just think people should stop obsessing over these stakeholders and what they are doing and get busy doing whatever you can do to contribute. Far too much sour grapes about this in my opinion. NXT are still only pennies each. If you buy some now and it goes up to $1 that's quite a profit. If it goes up to $5 then one day people will hassle you about why you're not giving away money so they too can get in on the gravy train they didn't buy a ticket for.  

[Asian Prepper]

Here is a video interview between me and Stephanie Murphy about NXT.  Stephanie is the host of the popular bitcoin talk show, "Let's Talk Bitcoin" at the 2014 Texas Bitcoin Conference:

http://prisonorfreedom.com/what-is-nxt-by-tai-zen-stephanie-murphy-from-lets-talk-bitcoin-at-2014-texas-bitcoin-conference/

Enjoy!
Tai Zen

Cool interview.

1. Can you get the audio file she recorded to overlay it? Would be much better.
2. Don't focus on the copycat thing too much when you talk about the flaws we put in to the source code. Nerds like open source and free distribution. Focus on the auditing part.
3. Why did you mention only your site ("prisonorfreedom.comslashtexasbitcoinnextcoinwhatevernooneunderstands"), was your goal to get clicks for your site? nxtcrypto.org and mynxt.org would have been nice. Now no one goes anywhere when they hear the video.

I directed everyone to go to my site to get some free nextcoins to activate and start there account here:

http://prisonorfreedom.com/2014-texas-bitcoin-conference/

This way I can track the efforts I put in at the conference and determine how many new users adopted NXT.

If they leave a comment with their account number at the bottom of the video, i will send them some nxt to activate their acct.

If i send traffic to nextcoin.org or nxtcrypto.org there is no way for me to set up tracking.

I work in sales/marketing and if you can't measure your marketing efforts then it's just a waste of time.

Tai Zen

[CIYAM]

I just think people should stop obsessing over these stakeholders and what they are doing and get busy doing whatever you can do to contribute. Far too much sour grapes about this in my opinion. NXT are still only pennies each. If you buy some now and it goes up to $1 that's quite a profit. If it goes up to $5 then one day people will hassle you about why you're not giving away money so they too can get in on the gravy train they didn't buy a ticket for.  

Agreed - and I don't think anyone is actually going to "convince" the anonymous founders to ever "give up their hoards" as IMO their goal wasn't to "get rich" at all.

[Fatih87SK]

He has 2100 followers...

[ebereon]

wesleys client:

Is there any way to display also the forging transactions like in NRS?

[redsn0w]

Can i get some Testnxt??Ty!

13641213266085296507

Sent 15 k TestNxt , enjoy it .

[bitcoinpaul]

If i send traffic to nextcoin.org or nxtcrypto.org there is no way for me to set up tracking.

I work in sales/marketing and if you can't measure your marketing efforts then it's just a waste of time.

Tai Zen

I get your point. Maybe, next time choose a shorter url for tracking progress (like new2nxt.com)

[CoinTropolis_JustaBitTime]

I've already talked to some of the founders and active community members about this... so just to be clear about CoinTropolis:

- Still getting Nxt into the hands of THOUSANDS of people at Trekcon in May
- Forwarded RickyJames on my recent contacts, including Bitpay competitor GoCoin


See, still incredibly useful.

Let's not confuse 'losing' an election to some of the backstabbing bs in the background. I shared what I needed in private, moving on.  I have 0 interest in submitting any proposals to the marketing committee in the future. There's some great people on it, I've already reached out to those guys.

Still cheering Nxt on from a distance, good luck.  Also Ricky James is 100% right about what he said concerning real world implementation from his experience from the Bitcoin Conference. Hopefully the community takes his advice and makes that happen.

[CIYAM]

Can someone explain to me how alternate currencies would benefit from this NXT integration?

The most obvious benefit is you get the Nxt *team* behind you (if you *clone* then you are *on your own*).

Also we could make a Nxt PC (parallel chain) *generator app* so that creating your own currency could be as easy as pointing and clicking.

[bitcoinpaul]

He has 2100 followers...

https://i.imgur.com/fud4JGC.jpg

I hope Wesley does it exactly like in the image. Then there wouldn't be a problem like that anymore.

http://s14.postimg.org/rrwoddald/pass_ge_3.jpg

Ok, I want exactly THIS in the NRS Client with wesleys user interface. Maybe an optional encrypted wallet file. Who's with me? Raise your +1s.

Will do (diceware first).

[bitcoinpaul]

Let's not confuse 'losing' an election to some of the backstabbing bs in the background.

Still, it is backstabbing from one person only with his statement. You could be a community member like I am. No stakeholder, no committee member, but still hanging around and try to contribute.

Whatever, thanks for your energy and time.

[Stadtfeger]

Ok, here's the current NXT distribution as of today.



As you can see, it's pretty horrible. The whales rule almost 85% of the whole coin, and I guess most of them are the initial investors.

Excluding the ~85% of the total NXT the whales have, here's the distribution of the remaining 15%:

Pretty horrible against what? "Fainess"? NEM? We'll see when NEM hits 10k-20k, 100k+ accs. And "fairness" simplycan't be reached, even if u'll magically distribute wealth (in any coin, if so) proportionally to everyone living now. Next seconds: some thousand "poor" people'll be born; next minute: millions'll spend there shares for nothing an so on.

Nothing horrible, IMO. Even nothing bad. It's capitalism.

with such an opinion I could puke!

You do not understand that no movement comes in and people do not even want to invest in Nxt with such views?

[Fatih87SK]

Gents,

Someone just stole money from a Twitter user;

This is what he is saying;

"2 days ago i set it up and withdrew my dgex NXT into my account number 2541298766073278713.

But today i open my client but i cannot access my old account, but instead directed to 18170715140588846266. Please help!"

I looked a bit in the blockchain explorer. I see that account 10715382765594435905 has stole the money.

What can we do for the victim? He is asking me to help.

[rdanneskjoldr]

Can i get some Testnxt??Ty!

13641213266085296507

Sent 15 k TestNxt , enjoy it .

Ty,i love how fluid the soft is.Also,im trying it as a noob , so my 2 noob doubts:

1- After buying an asset,i saw the option to transfer it to someone.But in there,there is no option to charge any Nxt for it.

So if i want to sell a determined asset,to someone i know,and fix the price privately,do i have to put it in the general AE,or can it be done privately somehow?

I miss in the transfer window,somewhere to put for how much Nxt i want to send it to that account(optional).Or am i missing something?


2- When i bought something,it appears on the buy orders side,saying you - tentative order.    What is it waiting to do it?A first confirmation in the blockchain?

[VanBreuk]

He has 2100 followers...

https://i.imgur.com/fud4JGC.jpg

We know that a weak password is the user's responsibility, but it's also true that the current base client is not user friendly in that sense, at all. Regardless, in this case, contacting @onemanatatime, finding the related blockchain information and trying to perhaps partially or fully compensate the leeching would be a VERY smart PR move.

Edit: I just saw the amounts. 400K+. I'm sorry for him, but buying and transferring that amount without doing your homework is beyond reckless.

  

[Emule]

What will kill nxt!

No involvement big stakeholder’s founders

One person get paid 40K/month others get nothing

Community collapsing no more interest

Small investors selling while they can before collapse

More and more accounts getting hacked theft of nxt, huge security flaws

Failing marketing

Promised features are not developed

Founders dumping day after day no price movement

No better distribution 85% in rich hands

Almost all VPS nodes in hands of two people, == centralized

Bloated blockchain

Panic breaks out run for the exit, but door is to small many bagholders.

People watch out before investing in nxt,  it is dying you will be a bagholder.

Small investors get out before the collapse this week

[redsn0w]

Gents,

Someone just stole money from a Twitter user;

This is what he is saying;

"2 days ago i set it up and withdrew my dgex NXT into my account number 2541298766073278713.

But today i open my client but i cannot access my old account, but instead directed to 18170715140588846266. Please help!"

I looked a bit in the blockchain explorer. I see that account 10715382765594435905 has stole the money.

What can we do for the victim? He is asking me to help.

Check the PassPhrase  

[Fatih87SK]

Gents,

Someone just stole money from a Twitter user;

This is what he is saying;

"2 days ago i set it up and withdrew my dgex NXT into my account number 2541298766073278713.

But today i open my client but i cannot access my old account, but instead directed to 18170715140588846266. Please help!"

I looked a bit in the blockchain explorer. I see that account 10715382765594435905 has stole the money.

What can we do for the victim? He is asking me to help.

Check the PassPhrase  

He admitted afterwards that he used a weak password. But it's strange for me that he did. We have to warn people properly how to secure their account.

[redsn0w]

BLA BLA ( it's a joke   )
 

Where are the stakeholders ??