NXT :: descendant of Bitcoin - Updated Information

[farl4web]

community input needed:

Unique names for assets? For example : BLABLA (only issued once)

Or non unique names for assets?

For example: BLABLA 12423434 and BLABLA 343434334  (you only choose BLABLA, the rest is the asset id - automatically generated)

(Perhaps, I'm not sure, the number can be shortened..)

If you have another idea, please specify.

- Bump -

[EvilDave]

Part of my interest in NXT is being part of the 'experiment' - you know, BCNext inviting us all over to his mansion on a stormy night with CfB as the inscrutable butler. I want to stick around and see what happens. This decentralised 'thing' is up there with Breaking Bad!

Something about this sounds so...

(mansion AND stormy night - you just had to put something so poetic in there did you)

tears in my eyes  

I wish there was such the line:

We haven't had that spirit here since 1969 1984

We are programmed to receive.
You can check-out any time you like,
But you can never leave........

[jl777]

Regarding Asset Exchange:

1. Is there a way to give out dividends?
2. I am envisioning that there would be tons of people creating whatsoever assets, I believe a way to manage it is necessary.  Like categories? favorites?
3. I also think there should be a moderator who could flag assets that are fraudulent.

1) I know BCNext at some point was coming up with a way that you could indeed give out dividends.
2) Great idea!  Should be currencies, stocks, assets, and I'm probably missing a couple. Not sure if that's being worked on.
3) Agreed, needs to be some kind of system for flagging assets as fraudulent and giving people a trust meter.

There should be several ways possible of issuing dividends. One way is for it to be a multigateway function. I can think of other ways too. It is not a hard problem at all, code already exists to get a full list of the owners of any specific asset, just need to allocate it properly down to the NXToshi.

I will be proposing a solution for 2) and 3) soon

James

[MadCow]

Part of my interest in NXT is being part of the 'experiment' - you know, BCNext inviting us all over to his mansion on a stormy night with CfB as the inscrutable butler. I want to stick around and see what happens. This decentralised 'thing' is up there with Breaking Bad!

Something about this sounds so...

(mansion AND stormy night - you just had to put something so poetic in there did you)

tears in my eyes  

I wish there was such the line:

We haven't had that spirit here since 1969 1984

We are programmed to receive.
You can check-out any time you like,
But you can never leave........

Check out ... not at this price! I'm a "you can never leave" guy

[martismartis]

Good afternoon people. Could somebody explain to me the following:

Somebody (j777) issues asset "BTC" in AE. Gateways is working, technically it is possible to sell and buy BTC in AE.

But I also have real BTC and want to sell them for NXT in AE. As it is already "BTC" issued in AE not by me and I'm not an owner of this asset, how my real BTC will appear in AE and I can trade them? Will I need to issue "BTC1"? This question is also for some other "universal" assets.

Did I miss something or do I need to go for beauty sleep for a while?

[jl777]

Anyone know if someone giving out assets would be able to change the number of assets?  Anyone know?

I'd like to issue assets and destroy them on the fly so that the block chain can record exactly how many assets have been issued.

Currently assets are issued all upfront. However, I am implementing a holding acct method. This way there will be the assets in circulation and the onces being held. A realtime (block by block) tracking of the holding acct will ensure conformance or initiate alarms.

Tracking the number of assets in the blockchain is a very good idea! I think I will have the multigateway publish AM's on inventory status of the tracked assets, just need to cover the cost of the tx fees

James

[CIYAM]

Hotel California is probably about the #1 KTV song (in English) in China.

I have sung it at quite a few bars in front of audiences who all love it.

(although I am a bit tired of hearing it here - just like Psy's big hit a few years back)

[okaynow]

community input needed:

Unique names for assets? For example : BLABLA (only issued once)

Or non unique names for assets?

For example: BLABLA 12423434 and BLABLA 343434334  (you only choose BLABLA, the rest is the asset id - automatically generated)

(Perhaps, I'm not sure, the number can be shortened..)

If you have another idea, please specify.

Non-unique asset listings could create confusion, or worse they could be a scam haven, with multiple BLABLA issuers.

i would think unique names, issued once only.
Maybe the issuer can be the only one to be able to create second listing with same name but different id, like BLABLA #001, BLABLA#002?

[Emule]

Price will go to 0.00001, good advice don’t buy, sell

This puppy is going to zero many bagholders will cry even big ones that could not sell before big sell of

This is very good for (re-)distribution

Bad for all those who invested during the last months

they r distributing shit, stop that re-distribution nonsense.

what do you have on re-distribution when price is zero and crap worthless piece of shit software?

i warned you all about this way before. give me 1M for free and i dont want them.

even the nexern client i warned you all he would not deliver, you all called me names for this.

@least i expect some excuses!

[jl777]

Good afternoon people. Could somebody explain to me the following:

Somebody (j777) issues asset "BTC" in AE. Gateways is working, technically it is possible to sell and buy BTC in AE.

But I also have real BTC and want to sell them for NXT in AE. As it is already "BTC" issued in AE not by me and I'm not an owner of this asset, how my real BTC will appear in AE and I can trade them? Will I need to issue "BTC1"? This question is also for some other "universal" assets.

Did I miss something or do I need to go for beauty sleep for a while?

You can deposit your real BTC with any NXT gateway using whatever method they have. For multigateway, once you get a deposit address, you just send your real BTC to that bitcoin address and it will appear in AE with the corresponding amount of multigateway BTC.

Alternatively, you could create a BTC asset and list it and convince people that you really do have the BTC and you really will redeem it when they want and then sell it on the AE.

The 1000 NXT fee will discourage the second approach as issuing and maintaining any real asset is a lot of work and should not be undertaken lightly. If it only cost a few NXT, then some people will try to issue their own assets and it will become quite a mess.

Look at the work Anon136 is putting in for his silver asset. There are entire companies that are being created to become an asset!

James

[jl777]

Unfortunately @Wesley left out the context.

Please check out testnet now and look for the Asset called CIYAM.

It was not created by me - but I have 50% of the shares (as the imposter *sent* them to me).

This is our problem (not the UI).

I dont understand why you dont just send the imposter asset to genesis acct if it bothers you so much

[Emule]

Anyone know if someone giving out assets would be able to change the number of assets?  Anyone know?

I'd like to issue assets and destroy them on the fly so that the block chain can record exactly how many assets have been issued.

Currently assets are issued all upfront. However, I am implementing a holding acct method. This way there will be the assets in circulation and the onces being held. A realtime (block by block) tracking of the holding acct will ensure conformance or initiate alarms.

Tracking the number of assets in the blockchain is a very good idea! I think I will have the multigateway publish AM's on inventory status of the tracked assets, just need to cover the cost of the tx fees

James

since you started with all your dreams and hypes it went downhill very fast!

what did you finally deliver from all your bla bla bla

[okaynow]

they r distributing shit, stop that re-distribution nonsense.

wealth is changing hands, it is the definition of wealth distribution, take it easy robin hood XD

[farl4web]

The 1000 NXT fee will discourage the second approach as issuing and maintaining any real asset is a lot of work and should not be undertaken lightly. If it only cost a few NXT, then some people will try to issue their own assets and it will become quite a mess.
James

I think 10000 NXT will be better to keep it from getting it a mess and make it more professional.

Just my 0.01 NXT

[CIYAM]

Non-unique asset listings could create confusion, or worse they could be a scam haven, with multiple BLABLA issuers.

Let's clear that up for you.

In the current Nxt "distopian" future you will have these Assets:

Microsoft (scam)
M1crosoft (scam)
M1cr0soft (scam)
Microsoft_2014 (scam)
Microsoft_2015 (real - assuming they haven't destroyed Nxt out of anger about the 1st listing)

Can you see why unique names are a problem now?

May as well just make it this:

Microsoft 38234124
Microsoft 98289128
Microsoft 12349123
Microsoft 58345345
Microsoft 13912342

only 1 is legit anyway (so *buyer* needs to *do more research* rather than just getting ripped off).

[Pouncer]

community input needed:

Unique names for assets? For example : BLABLA (only issued once)

Or non unique names for assets?

For example: BLABLA 12423434 and BLABLA 343434334  (you only choose BLABLA, the rest is the asset id - automatically generated)

(Perhaps, I'm not sure, the number can be shortened..)

If you have another idea, please specify.

Non unique names + auto generated asset ID

Allowing a first come first served method for asset name registration will result in squatting & non-meaningful/potentially misleading names. I suggest we use a system generated incrementing number starting from 101 as the unique asset ID. Asset Issuer can append any tag to the numerical ID.
eg:
115:BTC [ Asset description]
116:BTC [ Asset description]
117:ABC [ Asset description]

Asset ID 1-100 could be reserved for special assets.

[wesleyh]

Non-unique asset listings could create confusion, or worse they could be a scam haven, with multiple BLABLA issuers.

Let's clear that up for you.

In the current Nxt "distopian" future you will have these Assets:

Microsoft (scam)
M1crosoft (scam)
M1cr0soft (scam)
Microsoft_2014 (scam)
Microsoft_2015 (real assuming they haven't destroyed Nxt out of anger about the 1st listing)

Can you see why unique names are a problem now?

May as well just make it this:

Microsoft 38234124
Microsoft 98289128
Microsoft 12349123
Microsoft 58345345
Microsoft 13912342

only 1 is legit anyway (so *buyer* needs to *do more research* rather than just getting ripped off).

Disallow numbers in name and you won't have things like 0 or o confusion.

[farl4web]

Non-unique asset listings could create confusion, or worse they could be a scam haven, with multiple BLABLA issuers.

Let's clear that up for you.

In the current Nxt "distopian" future you will have these Assets:

Microsoft (scam)
M1crosoft (scam)
M1cr0soft (scam)
Microsoft_2014 (scam)
Microsoft_2015 (real assuming they haven't destroyed Nxt out of anger about the 1st listing)

Can you see why unique names are a problem now?

May as well just make it this:

Microsoft 38234124
Microsoft 98289128
Microsoft 12349123
Microsoft 58345345
Microsoft 13912342

only 1 is legit anyway (so *buyer* needs to *do more research* rather than just getting ripped off).

Good thinking. I agree, but still a bit confusing, so I suggest a higher fee to scare away the spammers. Or some kind or rules to keep it alive (active for 30 days, minimum amount of transactions)?

[martismartis]

Good afternoon people. Could somebody explain to me the following:

Somebody (j777) issues asset "BTC" in AE. Gateways is working, technically it is possible to sell and buy BTC in AE.

But I also have real BTC and want to sell them for NXT in AE. As it is already "BTC" issued in AE not by me and I'm not an owner of this asset, how my real BTC will appear in AE and I can trade them? Will I need to issue "BTC1"? This question is also for some other "universal" assets.

Did I miss something or do I need to go for beauty sleep for a while?

You can deposit your real BTC with any NXT gateway using whatever method they have. For multigateway, once you get a deposit address, you just send your real BTC to that bitcoin address and it will appear in AE with the corresponding amount of multigateway BTC.

Alternatively, you could create a BTC asset and list it and convince people that you really do have the BTC and you really will redeem it when they want and then sell it on the AE.

The 1000 NXT fee will discourage the second approach as issuing and maintaining any real asset is a lot of work and should not be undertaken lightly. If it only cost a few NXT, then some people will try to issue their own assets and it will become quite a mess.

Look at the work Anon136 is putting in for his silver asset. There are entire companies that are being created to become an asset!

James

Ok, Thank you for explanation. But what about other "universal" assets, which is not related with cryptos and gateways? For example, I want to trade "salt" in AE. I issue asset "salt" with quantity of 1000. Sometime all 1000 of "salt" is sold, and I want to add "more" salt to AE. It will be "Salt1"? What if my competitor also has the same "salt" and wants to trade it in AE?

[MadCow]

Hotel California is probably about the #1 KTV song (in English) in China.

I have sung it at quite a few bars in front of audiences who all love it.

(although I am a bit tired of hearing it here - just like Psy's big hit a few years back)

My regard for you was already pretty high CIYAM, but now .... RESPECT!!