NXT :: descendant of Bitcoin - Updated Information

[bitcoinpaul]

I want Krusty Krabs and Klav Kalash.

[brooklynbtc]

thoughts on Coloured coins AKA Asset Exchange

If someone was rich and powerful (and smart) enough to act as a central banker, they could control the interest rates, and "create value" by setting a payout on a periodic basis. (but of course this is creating a fiat currency inside NXT)

They could increase the NXT supply by selling 100NXT assets, Each token represents 100NXT, but the value will be fluid inside the AE.


Stick 1M of your NXT in a VERY secure wallet and publish the account number for all to see. This serves as the "gold reserve"

Say you set a target of 2% inflation, so for every 100NXT asset the central banker (CB) sells, there is an expected interest payout, and a chance for loans, and market forces to play their hands.

I assume this is one more reason the CB would have to be smart,

To be honest, with the way the re-distribution of funds from Whale dumps right now is affecting the price, we would need to wait for much greater stability or risk the whole thing being gamed.

Thoughts?

[lumierre]

Just some NXT memes to liven up this thread.  

[NxtMinnow]

brooklynbtc,

The Nxt community does not generally approve of fractional reserve banking principles, no matter how they are presented. Only free market action is acceptable. Also, the AE is in testing right now, so what you are asking us to consider is hypothetical in terms of the ability to implement.

Sincerely,

Brian Snyder

EDIT: Excellent news from NXT payment processing company Coinpayments.net website, "Update: CoinPayments.net has been sold to a trusted member of the Bitcoin community, Cycloid. His team will be running the site by March 31st and CoinPayments will continue operations without any interruption."

[ChuckOne]

Proof of Donation:

https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

I find it quite interesting. But I doubt it is not gameable.

[brooklynbtc]

brooklynbtc,

The Nxt community does not generally approve of fractional reserve banking principles, no matter how they are presented. Only free market action is acceptable. Also, the AE is in testing right now, so what you are asking us to consider is hypothetical in terms of the ability to implement.

Sincerely,

Brian Snyder

EDIT: Excellent news from NXT payment processing company Coinpayments.net website, "Update: CoinPayments.net has been sold to a trusted member of the Bitcoin community, Cycloid. His team will be running the site by March 31st and CoinPayments will continue operations without any interruption."

Hi Brian

 to be clear, I am not proposing this, but discussing this as it was briefly suggested in the econ review

here https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit

 I don't know if its fair for one member of the community to speak on what the rest approve of or not. You might think some are against "The Fed" but the AE will open up huge numbers for growth, arbitrage, and the invisible hand of the market.
A stable benevolent CB or more, could help with flow and balance.
 We are "trusting no one" but we are setting ourselves up like lambs for the wolves

[bitcoinpaul]

Virtual penis. Learned today.

[BrianNowhere]

Except maybe ENTER to submit. Gotta be careful that people don't press it accidentally.. I like to force the user to move the mouse and click the submit button instead.

Oh - please allow that (even if it has to be via a setting) - I *hate* using a mouse on a computer!

I am using the same FF version I mentioned in the message - I already killed the window as it was stuck for minutes.

How about Ctrl + Enter to submit?

[BrianNowhere]

Is this ok? Doesn't look right to me (talking about the design here)

I think the text should be left justified to line up flush with the form box.

[salsacz]

well, I think pin could get 150-250k Nxt in donations for his videos (80k from unclaimed coins), but as he said with his emule account, he dumped them all: http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=12088507821025750338

And deleted all videos that he got paid for:

https://www.youtube.com/channel/UC-krT2yl3xjKM8-ZCHkgeRw/videos (there were: NXT How to Add more peers to web.xml file | NXT Windows 7 Installer! | How to Check SHA256sum security… | NXT the matrix has you ! solution nextcoin | NXT intro: How to sent NXT Nextcoin? | NXT descendant of bitcoin Tutorial ! NEW Client 0.5.3 | How to Register Alias Tutorial | NXT java 0 pointer solved | NXT forging is NOT mining tutorial)

@Pin: ?

@d13id: For the first video+audio draft, I'm sure Joefox will help you. Sound expert and smooth voice. And we should work on the content a little more.

thank you, but this is not my initiative. just saying when they wanna do something for the community, deliver first and then ask for money not the other way around

I did my youtube channel (165 subs, 7000 views) and facebook for free, but seems that isnt good enough so I am saying to them make it happen.

video Asset Exchange demo + 0.7.3

donations welcome

NXT:12088507821025750338

http://youtu.be/l9O9aZFZPkE

[NxtMinnow]

quoting brooklyn btc,
 
"I don't know if its fair for one member of the community to speak on what the rest approve of or not. You might think some are against "The Fed" but the AE will open up huge numbers for growth, arbitrage, and the invisible hand of the market.
A stable benevolent CB or more, could help with flow and balance.
 We are "trusting no one" but we are setting ourselves up like lambs for the wolves"

As far as speaking for the community what the rest approve of or not; I am a public representative of Nxt. What I say in public and in front of potential investors has the real potential to attract investment and new users of NXT.

Can you sell the same house twice? Can you sell the same fluffy cat twice? Can you sell the same bar of silver twice? No? That is what I refer to when I state that the Nxt community does not generally approve of fractional reserve banking.

Why trust a Central Bank when the free market can determine the real price and the real reputations of market participants?
Keynesian philosophies are hard to break.

Sincerely,
Brian Snyder

EDIT: If a company wants to sell stock (assets) created in the AE, then issue more stock (assets) later, and then again, and again, they can as long as the company is transparent about their actions. Then the market can decide whether the dilution in ownership is worth the potential upside the company may have from deploying the funds acquired through additional asset issuance. That example is a little like "fractional reserve" but the investors have a choice and full knowledge available to them so they can participate after completing due diligence.

[chanc3r]

Emule is OUR troll. He is a part of the NXT odyssey !!! In the history books about the begin, there were BCNext (Zeus) and all other gods. Emule is Loki.

Come on, without Emule the huge NXTtalk of 2400 pages is not the same. I like when he write, it's like a little bird in my grey life.

Quoting Zeus, I think Emule is more like Caleban...

[iruu]

How to load admin.html on 0.8.10?
ip:7875/admin.html gives a 404 error.  

Worked on 0.7.4

[ChuckOne]

Emule is OUR troll. He is a part of the NXT odyssey !!! In the history books about the begin, there were BCNext (Zeus) and all other gods. Emule is Loki.

Come on, without Emule the huge NXTtalk of 2400 pages is not the same. I like when he write, it's like a little bird in my grey life.

Quoting Zeus, I think Emule is more like Caleban...

That is actually a great story.

If BTT ever will die for whatever reason, after 500 years, people will tell stories about the creation of NXT. Myths and tales will be created on the basis of rumors.

[brooklynbtc]

quoting brooklyn btc,
 
"I don't know if its fair for one member of the community to speak on what the rest approve of or not. You might think some are against "The Fed" but the AE will open up huge numbers for growth, arbitrage, and the invisible hand of the market.
A stable benevolent CB or more, could help with flow and balance.
 We are "trusting no one" but we are setting ourselves up like lambs for the wolves"

As far as speaking for the community what the rest approve of or not; I am a public representative of Nxt. What I say in public and in front of potential investors has the real potential to attract investment and new users of NXT.

Can you sell the same house twice? Can you sell the same fluffy cat twice? Can you sell the same bar of silver twice? No? That is what I refer to when I state that the Nxt community does not generally approve of fractional reserve banking.

Why trust a Central Bank when the free market can determine the real price and the real reputations of market participants?
Keynesian philosophies are hard to break.

Sincerely,
Brian Snyder

EDIT: If a company wants to sell stock (assets) created in the AE, then issue more stock (assets) later, and then again, and again, they can as long as the company is transparent about their actions. Then the market can decide whether the dilution in ownership is worth the potential upside the company may have from deploying the funds acquired through additional asset issuance. That example is a little like "fractional reserve" but the investors have a choice and full knowledge available to them so they can participate after completing due diligence.

So we're not even talking about the same thing. I'm not talking about complex derivatives. I'm talking about trust and belief in growth.

If you TRUST the CB, in the same way you trust Anon, or plan on trusting James with his gateways, why would you not trust someone who holds NXT in reserve?
I'm not talking about selling the same house sold twice, I'm talking about a gentle whale supporting the AE with a stable core asset.

1M in the "bank" linked to 100NXT "bonds" Gold Bar style. Paying out 2% interest, with efforts in place to control that the price of NXT goes in that direction.

[brooklynbtc]

How to load admin.html on 0.8.10?
ip:7875/admin.html gives a 404 error.  

Worked on 0.7.4

ip:7876

[antanst]

I've released a early preview of the service we've been building the last weeks.

The preview is on TESTNET only, so all data you see apart from market overview are from the TESTNET. It might prove useful to those testing the network.

The full version that runs on the main network will be released in a few days, barring bugs/issues.

In the meantime, you'll find the following:

* Live market data with candlesticks, averaged global NXT/USD/EUR price and live calculator.

TESTNET only:

* Advanced block explorer (including messages, aliases, assets)
* Distribution charts
* Charts and more charts.

All data are always up-to-date to the latest block.

http://testnet.nextblocks.info

Comments and suggestions are welcome.

Coming soon: Asset-specific candlesticks and market data, and trustless wallet service a-la blockchain.info.

[TwinWinNerD]

Emule is OUR troll. He is a part of the NXT odyssey !!! In the history books about the begin, there were BCNext (Zeus) and all other gods. Emule is Loki.

Come on, without Emule the huge NXTtalk of 2400 pages is not the same. I like when he write, it's like a little bird in my grey life.

Emule is great. But he is not Loki smart. And THAT is a shame!

[bitcoinpaul]

I've released a early preview of the service we've been building the last weeks.

The preview is on TESTNET only, so all data you see apart from market overview are from the TESTNET. It might prove useful to those testing the network.

The full version that runs on the main network will be released in a few days, barring bugs/issues.

In the meantime, you'll find the following:

* Live market data with candlesticks, averaged global NXT/USD/EUR price and live calculator.

TESTNET only:

* Advanced block explorer (including messages, aliases, assets)
* Distribution charts
* Charts and more charts.

All data are always up-to-date to the latest block.

http://testnet.nextblocks.info

Comments and suggestions are welcome.

Coming soon: Asset-specific candlesticks and market data, and trustless wallet service a-la blockchain.info.

+1

What about individual profiles to see an overview, summarizes, nice graphics and stats about AE regarding one Nxt account? Would be the to-go place for traders to keep track of activities.

Somebody should do this immediately!

[brooklynbtc]

EDIT: If a company wants to sell stock (assets) created in the AE, then issue more stock (assets) later, and then again, and again, they can as long as the company is transparent about their actions. Then the market can decide whether the dilution in ownership is worth the potential upside the company may have from deploying the funds acquired through additional asset issuance. That example is a little like "fractional reserve" but the investors have a choice and full knowledge available to them so they can participate after completing due diligence.

I think the AE is designed so that you CAN NOT issue more under the same asset name. You could of course issue fractional shares as a separate asset, like Widget B shares, tradable for 100/1 of Widget A shares

But then so could a scammer...