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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756221 times)
CIYAM
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March 09, 2014, 01:22:26 PM
Last edit: March 09, 2014, 01:34:13 PM by CIYAM Open
 #42401

One idea (which I will not take credit for, only restating in this context) was that perhaps 'effectiveBalance' (ie: forging power == 'leased + owned NXT') could be capped to prevent large pools.

Yes I think that should be one of the "settings" for a parallel chain (and maybe we ought to think about having such a limit on the main chain also).

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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March 09, 2014, 01:22:35 PM
 #42402

What's with James idea of coins on top of Nxt?

I think that parallel chains will provide a *neater* way of doing other "coins" in Nxt, however, having gateways to "outside" blockchains is also an important thing.


I have a feeling that parallel chains are indeed better, but I'm no dev and just wanted to throw in his idea so we can keep track of everything related.
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March 09, 2014, 01:25:13 PM
 #42403

I think NEM will be successfull
That's possible.

because of the large number of account holder. Nxt has around 200 people in the core community. If 10% is doing something for Nxt, that´s 20 people. If NEM has the tenfold of investors, they have more people to build things around NEM...
We'll see. There's no qualitative difference between Nxt and NEM distribution. Only difference in quantity. And my point is: there can't be qualitative difference at all. Any imaginable distribution'd be unfair in some point of view. It'd not be goal and distribution just don't worth the attention.

Dynamics still mean something though: dynamics of distribution of limited resource always'll be better than dynamics of distribution of unlimited resource (unlimited for someone, some group or for everyone). For example, US Dollar unlimited for some well-known guys  Wink

That´s why we would need the price of Nxt to go up, because that would draw in more investors. The stable price in this phase of Nxt is not a benefit.
Disagree. Price'd not be in attention zone neither. Market'll decide, regular high volumes'll stabilze. Only speculators'd care about the price.

For those who want Nxt to grow bigger (in aspects of adoption, amount of good code, volumes. liquidity and so on) right now and still've free time I've two words: become doers  Wink

I tend to agree with ZeroTheGreat here. The problem with NXT is not about distribution. The real problem is the wrong incentive alignment. No one complains when Sergey and Larry control 50% of Google but when some 10million+ NXT stakeholder do really nothing people will complain and worse they will stop contributing.  BTW I don't think it is a dooming factor but some people do have to work extra hard to make up for these issues.


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bitcoinpaul
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March 09, 2014, 01:27:18 PM
 #42404

Where are we now:

- Main Chain as base for every other parallel chain
- Main chain also hight TPS with TF
- parallel chains with different options (PoS/PoW/hybrid, TF or not TF)
- as-good-as-it-can-get-decentralized gateways for trading other coins in Asset Exchange

Where do we put AE, AM, AT into this buffet of ideas?
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March 09, 2014, 01:33:38 PM
 #42405

Where do we put AE, AM, AT into this buffet of ideas?

Okay - unless we can work out some other way to do atomic cross-chain txs then I think AT will be required to be supported by all parallel chains.

I don't think parallel chains need to support AM or AE as to my thinking they are "just coins" but again that will be up to the community to decide.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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bitcoinpaul
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March 09, 2014, 01:35:47 PM
 #42406

Where do we put AE, AM, AT into this buffet of ideas?

Okay - unless we can work out some other way to do atomic cross-chain txs then I think AT will be required to be supported by all parallel chains.

I don't think parallel chains need to support AM or AE as to my thinking they are "just coins" but again that will be up to the community to decide.


Or we decide if there are other options and let the community of the various parallel blockchains decide.
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March 09, 2014, 01:38:19 PM
 #42407

What's with James idea of coins on top of Nxt?

I think that parallel chains will provide a *neater* way of doing other "coins" in Nxt, however, having gateways to "outside" blockchains is also an important thing.


btw i thought james' coin idea is another thing and has nothing to do with the gateway Huh
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March 09, 2014, 01:43:06 PM
 #42408

Sorry I havent been paying attention to this, but how do I get to the admin, alias, and update screens in 0.8.X?

I see them in the /html/tools/ but I can't get them to open in the browser. I drag them to chrome but they arent connected to the web.

thoughts?

jef

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March 09, 2014, 01:45:33 PM
 #42409

http://127.0.0.1:7876/
CIYAM
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March 09, 2014, 01:45:44 PM
 #42410

btw i thought james' coin idea is another thing and has nothing to do with the gateway Huh

Perhaps that is the "nodecoin" that was mentioned before - am not really sure whether it will be relevant once we have parallel chains.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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March 09, 2014, 01:49:10 PM
 #42411

,

I tend to agree with ZeroTheGreat here. The problem with NXT is not about distribution. The real problem is the wrong incentive alignment. No one complains when Sergey and Larry control 50% of Google but when some 10million+ NXT stakeholder do really nothing people will complain and worse they will stop contributing.  BTW I don't think it is a dooming factor but some people do have to work extra hard to make up for these issues.

Make sense. It hard to believe a company can be successful if the top founders and shareholders are not actively and passionately involved in the business. Nxtcoins are the shares of the Nxt. They should be the leaders and guards of this movement/company simply because they have more stakes in it and care more. As Ricky mentioned the leadership committee, they could sit in that committee. BCNext has been the free dev for Nxt for so long. Now he left. The momentum might just right stop here.
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March 09, 2014, 01:56:30 PM
 #42412

Have question for 4747...888. Why do you forge?
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March 09, 2014, 01:57:06 PM
 #42413


Thanks, I stumbled upon that. Can we clear up why its in there?

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March 09, 2014, 01:59:13 PM
 #42414

btw i thought james' coin idea is another thing and has nothing to do with the gateway Huh

Perhaps that is the "nodecoin" that was mentioned before - am not really sure whether it will be relevant once we have parallel chains.


Ok, so you don't know how he implements these coins on top of Nxt. Well, JAMES. Wake up, tell us about it.

During this time 2 more things:

I.

1. Assumption: Our Nxt has TF, a good portion of TPS and everything is fine.
2. Now we add parallel chains with all the things we discussed so far to it. And people start building parallel chains.
3. What does this to our main chain? Technically speaking. What are the implications?

II.

Is related to 3: Please summarize what the technical benefits for our mainchain are by having parallel blockchains (besides the point that we can 'offload' features to other chains)
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March 09, 2014, 02:00:05 PM
 #42415

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

As of 2014-04-09 I no longer post as "Asian Prepper" and will post under my real name "Tai Zen" to eliminate confusion.

Founder of www.PrisonOrFreedom.com | BTC: 19HHZ1yEimKUYVFM9TkXqd9xwM54jSFrmc | LTC:  LTA99422wieqR1MfWeNxZU5xAsESE9MzW7 | NXT:  17225446755425423638
CIYAM
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March 09, 2014, 02:10:46 PM
 #42416

I.

1. Assumption: Our Nxt has TF, a good portion of TPS and everything is fine.
2. Now we add parallel chains with all the things we discussed so far to it. And people start building parallel chains.
3. What does this to our main chain? Technically speaking. What are the implications?

Luckily it doesn't affect the main chain at all (technically they are like having LTC and BTC on the same computer if you are running both).

The idea of putting in "checkpoint" messages would be to simply add 1 small AM per day per chain (would hardly be noticed even if we had a thousand of them).

II.

Is related to 3: Please summarize what the technical benefits for our mainchain are by having parallel blockchains (besides the point that we can 'offload' features to other chains)

It makes Nxt the ideal "platform" to experiment with new blockchains and to test new ideas without risking failure to the main chain (alts are now being used to trial ideas that might be useful to Bitcoin because they simply can't risk trialing anything with Bitcoin).

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
bitcoinpaul
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March 09, 2014, 02:17:03 PM
 #42417

It makes Nxt the ideal "platform" to experiment with new blockchains and to test new ideas without risking failure to the main chain (alts are now being used to trial ideas that might be useful to Bitcoin because they simply can't risk trialing anything with Bitcoin).



Ok, so no added bloat but also no added security or what ever to the mainchain? There is no interaction between the main and the parallel chains, it seems (besides this little AM / period)?
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March 09, 2014, 02:17:40 PM
 #42418

I've got a lot of catching up to do in this thread, also.  For now, I will say a few things off the top of my head. 

First, we have got to pay more attention to NXT as a 1st generation coin, and call it a coin, without parentheses or apologies.  We need vendors to accept it and people to want it.  NXT cannot be mined and the ability to forge it requires one to buy it on an exchange first.  We have to give people a reason to buy NXT.  That reason cannot be as a stake to forge more NXT because without exception newcomers are dramatically disappointed when they figure out the true numbers that underlie NXT forging. Doge has a fun factor.  NXT has zero fun factor.  It is a frustrating experience all the way thru - getting a client set up and running, dealing with a super long password or losing all your NXT if you don't, realizing you're not going to make anything of true value by forging with small stake quantities, asking yourself what can you do with this coin you just bought....  Repeat:  NXT is frustrating, Doge is fun.  WE MUST LEARN FROM DOGE AND BE FUN.

Second, we have got to identify just what is 2nd generation about this coin that we really truly are going to support.  Mixing/Zerocash anonymity?  Peer to peer AE?  Multisig gateways to other coins?  Transparent forging TF to get high transaction speed?  Multiple blockchains?  Pruning the main blockchain?  BCNext's latest out-of-left-field proposal for instant transactions based on some kind of multiple account?  Jesus, even the guy with the secret plan is proposing new ideas before completely revealing his old ideas.  This gives me a headache and a stomach ache at the same time. 

TF and 1000TPS is what sold me on this coin and is the ONLY feature we have that is above and beyond all Bitcoin clones and even Etherium on the horizon.  I get that 1000TPS would take dev work, but I thought TF was a done deal.  Now it's not?

Third, we have got to pull together as a team and FOCUS.  FOCUS.  FOCUS.  Maybe the funding committees are the start of this.  I hope so.   I would go so far to say that there needs to be yet another committee election, for a leadership committee, one with no money or unspent NXT behind it at all, just the raw power to say "NXT IS GOING TO DO THIS."  and whose members then can stand up on a stage, virtual or real, in front of people and tell them that NXT is on a course to SOMEWHERE.

Maybe I'm just in dictator withdrawal from pushing the election over the goal line.   Maybe sleep will help.  G'nite.

 



I believe in dictatorship. Democracy will fail (and fall) in the coming decades. Collective ownership is bullshit, because noone feels responsible for anything. A lot of great ideas are getting thrown in the round every day in this thread, but almost all remain without action. It´s like fartig in a room with full off people and then closing the door and leaving: it´s an interesting experience, but pointless and after a while even disturbing.

I still believe that this project needs a project manager. Look at all the other successfull cryptos: they all have carismatic leaders. A big project like this can´t only rely on a few self-sacrificing people.

I agree also Rickyjames and Mcj. There does need to be some sort of way to prioritize our goals and focus on making things happen. I am not for any type of dictatorship though, and disagree with the idea that things can't be achieved through democratic means or communal consensus. But in order to get things accomplished there do need to be priorities attached to projects and some sort of order established to make better use of the resources available and to focus peoples energy into some thing productive. However this has to be achieved, I am prepared to be a spoke in the wheel.
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March 09, 2014, 02:26:46 PM
 #42419

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? Huh nxtcrypto.org and mynxt.org would have been nice. Now no one goes anywhere when they hear the video.
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March 09, 2014, 02:28:40 PM
 #42420

Is related to 3: Please summarize what the technical benefits for our mainchain are by having parallel blockchains (besides the point that we can 'offload' features to other chains)

It makes Nxt the ideal "platform" to experiment with new blockchains and to test new ideas without risking failure to the main chain (alts are now being used to trial ideas that might be useful to Bitcoin because they simply can't risk trialing anything with Bitcoin).

Does this mean all the existing coins including Bitcoin can be pegged with Nxt to run? What would be the benefit for them to peg with Nxt if it is true?
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