NXT :: descendant of Bitcoin - Updated Information

[salsacz]

ok, so wesleyh will create a topic. Move on

[opticalcarrier]

It's a bit of a disgrace they only pay 1 fee for sending al those hunderd-thousands of NXT. Sometimes I think the fees should be relative to the amount of NXT. Something like this:

< 10 000 NXT send = min. 1 NXT fee
10000-100000 NXT send = min. 10 NXT fee
100000-1000000 NXT send = min. 100 NXT fee
> 1000000 NXT send = min. 1000 NXT fee

In the future this could be, because we want to lower the fees:

< 10 000 NXT send = min. 0.01 NXT fee
10000-100000 NXT send = min. 0.1 NXT fee
100000-1000000 NXT send = min. 1 NXT fee
> 1000000 NXT send = min. 10 NXT fee
 

What are your thoughts? The big guys earn of the fees of the small guys now, so it's more fair if they pay more for transactions?

Fee should depend on data size coz it solves a technical problem (spam prevention). An attempt to make it depending on sent amount is an attempt to make the world more "fair". Don't mix technical and political/ethical problems, plz.

why have you not been backing me up in the past when I have been suggesting this?

[ChuckOne]

Nxt Network - Energy and Cost Efficiency Analysis

Comparing Bitcoin and NXT

https://docs.google.com/document/d/1J8uhdshu9epGRrQHBaloGc4itdvuAHZDAUtNDjOhz-8/edit?pli=1

Please review that paper and leave comments there.

[Come-from-Beyond]

why have you not been backing me up in the past when I have been suggesting this?

I don't read all the posts.

[bitcoinpaul]

why have you not been backing me up in the past when I have been suggesting this?

I don't read all the posts.

[igmaca]

This is my question as well.  Instead of using nodecoin as the sole incentive for running a node...why not let the OTHER assets on NXT be the reward?  You could reward people small amounts of any coin (or asset) they desire from the trading fees (small amounts...say 0.00000010 or less).  Someone with a large stake in NXT could get slightly higher amounts.  That way even someone that has just 1NXT...gets something for being an active node.  That would give one hell of an incentive to get into NXT.  Everyone becomes there own micro exchange.

Am I completely off base here?

of course!

this is the solution. AE NXT exchange charges a small fee for each transaction and distributes
the fee to the active nodes


The active nodes receive two fees

A fee for each exchange assets independent of fund account
A fee as currently does nxt if node forges

[rdanneskjoldr]

some testNXt please : 4891842774218925776

7k sent

[rdanneskjoldr]

Ehmm, the whole testnet is down???

I run a my node on testnet, it not down, just your webservice?

Well lets give them the windows client with your latest client build in?

dont think that is a good idea. i think stick with the web client! wait until testnet is back up if we have to.. better to give ppl a link.. no download ect.. its just easier for people to do!

I will be away from computers till late tonight.
Leaving in 45 minutes.

So if it's up earlier, someone else can set up the thread maybe?
I can dish out TestNxt when I get home tonight to a few people so we can hand out stakes to testers.

OR: we can wait with the thread till I get home and start it then.

I think we want to be sure that it will be able to handle anything BCT users can throw at it anyway

Your call

i wont be available after 5-6ish to give out testnxt just letting you know

I asked in private to Damelon for ~200k testnxt.I have like 50k and ive been distributing testnxt for many days now.I will very probably stay today for the next 10/12 hours and follow everything,in case the thread is opened.

[redsn0w]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: NXT ASSET EXCHANGE on testNET LIVE! EASY Client included! Ask for testNXT!"

I think nobody knows that our Asset Exchange is working in TestNet?!? Announce it! Mastercoin Exchange will die, I'm sure...

I'd be happy to make a thread for AE.

What needs to be clear for everyone?

I think just this, isn't it?

Wesley's client: http://nxtra.org/nxt-client/

Where can they ask for TestNxt? In the [ANN] thread? Who will give those out?

Please let me know and I'll make one. Won't have time to monitor it today, though, so some people should step in, too

if you send a good chunk of test nxt to me i can dish it out for a few hours! il monitor the [ANN] thread and watch out for any questions. if they are techy ones il just post the link to them here and someone else can step in on that side

I can send 15-20 k TestNxt to every person who asks me.

I'm doing it for a couple of weeks

[rlh]

for the nxt mining pool maybe create a large bounty for it? i dont think much will happen without a bounty?

I'm working on that now. I'm drafting bounty for Nextcoin.org.  I'll post that link, at that time.  I'll start by donating 20k, and I'll post a donation address.

Please note, I'm not running a client (I keep my Nxt in exchanges) so I'm installing it now to generate a community donation address.  If you donate 20k, too, that will be a 40k bounty for the first exchange that implements this.

[Damelon]

I asked in private to Damelon for ~200k nxt.I have like 50k and ive been distributing testnxt for many days now.I will very probably stay today for the next 10/12 hours and follow everything,in case the thread is opened.

ok thanks and fair play!

Can I send?
If the net is down, how?

[redsn0w]

some testNXt please : 4891842774218925776

15k TestNxt sent , Have fun .

[salsacz]

any comments?  

Make Nxt Your Blockchain: An Invitation To Universities and Academic Researchers
Tho whom it might concern,

Properly implemented decentralized networks offer the ability communicate and transact securely with anyone anywhere. This capability allows users of properly implemented decentralized networks to move value and information in the most efficient possible method. This is important because everyone deserves access to information. Access to information is a basic human right.

With rights come responsibilities. Prior to the casting of the Genesis Block of the Nxt cryptocurrency ecosystem, the answers to how to uphold the responsibility of providing access to information to all members of the human race had not been known. The information revolution has followed the same patterns of the industrial revolution: concentration of power, centralization and hierarchical leadership. The primary focus on development of technology has been corporate profit, not providing information access to everyone.

Nxt breaks the old profit driven centralized network model with its innovative Proof of Stake cryptocurrency NXT which provides the foundation of the sustainable Nxt ecosystem. The development follows open source protocols allowing review and competition. The leadership of the Nxt ecosystem functions at the edges of the network, driving innovation. As an example of this innovation, the NXT Asset exchange has made the first Dogecoin deposits and withdrawals (accurate to milliDoge!) from an Nxt Asset Exchange Gateway. This capability is developing rapidly to allow nearly instant and anonymous transactions of any asset class between any person.

Money is a form of freedom of speech. By choosing to invest in a certain candidate or company, a person is expressing their opinion. By choosing to invest in Nxt, a person is expressing their opinions. These opinions are developing into community based ideals as consensus is reached within the Nxt community. This consensus is important as it allows for voluntary governance.

Even before the native voting feature of the Nxt ecosystem is fully developed, voting is occurring in the Nxt community to establish 5 and 7 member committees administering Marketing Funds, TechDev Funds, and Infrastructure Funds. Proper adequate internal controls are established within the Nxt ecosystem by guaranteed transparency in voting, finances, and software development. These funds are managed through a process of Improvement Proposals which are reviewed and Bounties fulfilled for verified completed Improvements to the Nxt ecosystem. The great care taken by the Nxt ecosystem to ensure a holistic approach to implementation of financial cryptography gives major stakeholders easy points of entry to the ecosystem.

The Nxt ecosystem utilizes disciplines of Cryptography, Software Engineering, Rights, Accounting, Governance, Value and Finances to deliver an open source ecosystem with several unique features. Nxt Transparent Forging (TF) eliminates the “selfish-mining” that endangers the Bitcoin blockchain and all its clones to a 51% attack. Nxt Asset Exchange (AE) allows value to flow from other unsustainable blockchains and transaction methods into the Nxt ecosystem, as well as enabling crowdfunding kickstarters and micro- transactions. Nxt Arbitrary Messages (AM) allows data APIs to be called and custom applications designed. Two more unique core Nxt features currently under development are the Voting System (VS), which will enable publicly-verifiable democratic voting and the Automated Transactions (AT) which will enable smart contracts and robotics applications not even envisioned yet.

The advanced applications that can be built on the core Nxt ecosystem are limited only by imagination. Thirty years ago, no person would have ever imagined that nearly every person on the planet would be communicating with handheld wireless devices. Today this is a reality as the cost of smart phones is within reach of most of the global population. Growth in handheld wireless communication and transactions is exploding, presenting an opportunity for the most efficient and secure networks to succeed. Nxt is the most efficient and secure transaction network available and is secured by the innovative Proof of Stake mechanism, which utilizes minimal energy.

Many altruistic motives are at play within the development of the Nxt ecosystem. The goals of making the most efficient, most secure possible transaction network have replaced the legacy banking goals of making as much money as possible. Distributed Autonomous Corporations (DACs) will be built on top of the Nxt blockchain for profit and non-profit, leveraging the competitive advantage of operating on the most efficient secure transaction layer available. This efficiency combined with transparency drives the innovation and development of the Nxt ecosystem. As an example, the Nxt Mobile Applications Company (NMAP, The first Nxt DAC) just successfully closed its first stage of IPO early after overwhelming investor demand.

This is a direct invitation to academic researchers, cryptographers, mathematicians, software engineers, accountants and other curious professionals to examine the Nxt cryptocurrency platform for the unimagined possibilities it presents. The Nxt cryptocurrency ecosystem can bring banking and smart contracts to the unbanked at the lowest possible cost and the highest possible security, freeing billions of Dollars/Euros of dead capital resulting from improper or unavailable rights registration. Robots may one day interact with the world through the transmission of Nxt Arbitrary Messages and execution of Nxt Automated Transactions. What can you imagine doing with Nxt? Nxt invites all people to participate in the revolution.

Please contact us at: nxtsalsacz@gmail.com

NXT Whitepaper: http://wiki.nxtcrypto.org/wiki/Whitepaper:Nxt

Nxt scientific papers:

Nxt Crypto Review of Curve25519.java & Crypto.java
https://gist.github.com/doctorevil/9521116

Nxt Network Energy and Cost Efficiency Analysis:
https://docs.google.com/document/d/1J8uhdshu9epGRrQHBaloGc4itdvuAHZDAUtNDjOhz-8/edit (in progress)

The math of Nxt forging:
http://www.docdroid.net/a08e/forging.pdf.html (in progress)

What are the economic parameters of Nxt?
https://docs.google.com/document/d/1PP4EPNU_4drvFHkXlp29BNTOIEC4-fGqEcqhbId-iIA/pub (in progress)

Decentralized internet and Nxt solutions:
http://justpaste.it/decentralized-internet
+ video: http://youtu.be/RtTWUwRL9mQ (in progress)

To learn more: http://nxt.org  / http://mynxt.org
Nxt Online wallet: https://wallet.mynxt.info  / Nxt Clients: http://www.nxtclient.org/
Nxt exchanges: http://cryptsy.com  / http://bter.com  / http://vircurex.com  / http://poloniex.com  / http://dgex.com  
NXT thread on Bitcointalk: http://bitcointalk.org/index.php?topic=345619.0  
NXT Source Code: http://bitbucket.org/JeanLucPicard/nxt-public/src

[redsn0w]

for the nxt mining pool maybe create a large bounty for it? i dont think much will happen without a bounty?

I'm working on that now. I'm drafting bounty for Nextcoin.org.  I'll post that link, at that time.  I'll start by donating 20k, and I'll post a donation address.

Please note, I'm not running a client (I keep my Nxt in exchanges) so I'm installing it now to generate a community donation address.  If you donate 20k, too, that will be a 40k bounty for the first exchange that implements this.

my total holdings accoutns to 80k nxt.. that would be 25% of my holdings lol il donate some but not 25% lol

What is you (test) address number ?

[superresistant]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.
I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.
The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!
Practically any way you look at this approach is a benefit!

Interesting idea. FYI - here is his idea on nextcoin.org:
The idea is simple.  We could setup a SHA-256 & Scrypt mining pool.  The pool can use the coinwarz API to determine which coin is currently most profitable and it could mine the most profitable coin at the moment.  HOWEVER, instead of distributing these coins directly to the miners, the pool forwards all mining rewards to an exchange, dumps the coins, buys up Nxt with the profits and then re-distributes the Nxt to the miners.
So, although direct Nxt "mining" may not be possible, a mining pool for this purpose could help the entire community by providing an easy way for people to obtain some Nxt (even if the amounts are small) PLUS this should have a net-positive affect on the price of Nxt because the pool will be dumping other altcoins, and buying up Nxt.
So, does anyone know someone who could make this possibly happen?  Seriously, I think this could be a great idea.  I'd do it myself, but I don't have the time plus I've never managed a pool.  If we have any former (or current) pool managers, this could be awesome!

We can turn the mining scheme against the mining coins !!

The price and the profitability of mining coins will go down while the price of Nxt will go up.

Knowing that it will be done makes me want to buy more Nxt right now.

[redsn0w]

some testNXt please : 4891842774218925776

15k TestNxt sent , Have fun .

can i get some more too? 10201806037510420301

This is your primary address   

[bitcoinpaul]

We can turn the mining scheme against the mining coins !!

The price and the profitability of mining coins will go down while the price of Nxt will go up.

Knowing that it will be done makes me want to buy more Nxt right now.

+1

[rdanneskjoldr]

some testNXt please : 4891842774218925776

15k TestNxt sent , Have fun .

can i get some more too? 10201806037510420301

7k sent,but testnxt is down,so i dont know how much it will take.


@wesleyh: when i put my mouse on my ID in the upper left corner,it appears a blank box,without the text it should appear.

[Damelon]

some testNXt please : 4891842774218925776

15k TestNxt sent , Have fun .

can i get some more too? 10201806037510420301

This is your primary address   

thats my testnxt acc? :/
should i have a secondary testnxt acc? :L

 

[opticalcarrier]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

This is a really cool idea.  I might be interested in setting up the pool and a script to interact with coinwarz and an exchanges API and hosting the pool if there is some bounty.  Whales?

Ive been working on a script that will control 2 VPSs that work in conjunction for high availability to control a forging account on only 1 of the VPSs, where if a VPS croaks, it automatically picks up on the other VPS.  Since its bad to forge with the same account on 2 systems, Im developing this mechanism to support a HA forging account for everyone to lease their effectiveBalance to my pool.  Im nearly done with this little project (except for the remediation part) and could spend some time next on the PoW pool with auto transfer to an exchange and purchase of NXT based on APIs to an exchange and data it gets from coinwarz.