NXT :: descendant of Bitcoin - Updated Information

[Passion_ltc]

But you mentioned something like client-side-verification at http://nxtra.org/nxt-client-trustless/ . Is that also possible for tipNXT.com (not working right now, because I don't have a server for the client)?

Yes it would be client side in  javascript.  It would be safe.

Thanks.

What if someone hack the server and change the code. Is it possible to create a hash or checksum (with php and crojobs!) of the critical .php files and upload them somewhere on an external site?

This has nothing to with server side as nothing critical is sent to the server (no password no  private key).  Well, that's not entirely true, since if the server is hacked, the attacker could alter the javascript code that runs on client browser.    That's the reason, by the way, I suggested that wesleh should make his client an app in chrome/firefox store. It will be safer that way from compromised server where the attacker alters javascript. 

Yes, I mean exactly that. The hacker could simply change the code.


Wesleys client as an iOS app would be fantastic!!

[L5Society]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

[BitcoinForumator]

James, please listen to windjc. Just do your 'thing' and focus on finishing your coding work. You have oodles of support in the NXT community, and I for one get freaked out when you start talking about throwing in the towel. There are plenty of key people in the NXT community that we can't afford to lose, and you're definitely one of them. You'll never please everyone, so stay out of this thread as much as possible, and concentrate on pleasing yourself. As you say, you have the perfect skill-set for NXT - code, tech marketing, & finance.
[/quote]

+1

[Eadeqa]

Wesleys client as an iOS app would be fantastic!!

His client is in Javascript. I think IOS apps are written in Objective-C.

edit: though he can make it mobile browser friendly. It will be just as good

[Eadeqa]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

All he has to do is make a mobile browser friendly version. There is nothing apple could do to stop it

[Fatih87SK]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

If Apple removes the app, users can always go to the website which will be mobile compitable soon  

[bitcoinpaul]

PS, I am looking for a web developer to give me a hand (well, haha, I need more than just a hand) in developing hashrate.org
I would be willing to offer a slight stake in the overall pool profit in return for the assistance (which is intended to eventually be 2%, once the pool is out of beta.. it is currently 0%.)

I hope someone is helping him!

[bitcoinpaul]

Maybe people need to realize that AT is coming. That means NXT will have Turing machine capability. That means nobody can stop me from doing whatever I come up with. I will do what I can to turn NXT into a platform.

Indeed the things that will be possible once we have AT in place are rather mind blowing.

[bitcoinpaul]

I get the feeling that everytime I come up with a cool new feature, a lot of people will get upset and I am not sure what to do. With NXT I can do almost anything and I am in the process of designing a set of features that will put NXT so far ahead of all the other cryptos, but now I am having second thoughts.
...

Personally, I like the things you're doing, but whether or not people like your stuff at first shouldn't be a factor in building them.  You can't please everyone, and you shouldn't try.  If you're making things it should be because its something you want to do and have a passion for, not to please others.  You're doing cool things.  If others like it too, that's bonus.

+1

I will discuss this topic with my brain. But no matter what: keep doing your stuff.

[swartzfeger]

I feel that NXT as a community is at a decision point. Do we want to wage war against bitcoin for supremacy in payments and become the crypto version of paypal or do we want to become a platform that will enable transformation of the world to an economy that is significantly crypto based.
James

The answer should be both.

OK, you go take on the bitcoin guys. Let me know how it works out. I'm off doing the platform thing

Bye for now, back in a week (give or take). Maybe I will check in, maybe I wont.

Gnite

Crap, I show up just as you exit stage left...

Platform. **DUH**

What brooklynbtc said upstream a few pages back... free, open, unfettered. No restrictions. Options, not obligations.

[btc2nxt]

OK, let me try a different angle.

Imagine that somehow miraculously we get BTC denominated trading in NXT AE and it gets 10% of all crypto trading. This is bound to get some press coverage, even without our help. Now, we are being mentioned in the Wall Street journal and major papers as being a significant threat to all the centralized exchanges. People who never even bothered with crypto start investigating. They arent rocket scientists, but they gots tons of money. Do you think they will buy BTC or NXT? Remember, they are finding out that NXT enabled BTC trading. That implies that NXT is more powerful than BTC. BTC cant trade itself, but NXT can not only trade itself, it can trade BTC.

Ricky, you are right, what if the world finds out NXT is so much better than BTC. They just might start buying so much NXT there wont be any left to use a 1.0 currency

James

+1

[farl4web]

What James is saying is if one day the big money (hedge funds, institutional investors, "Visa-scale" institutions...) wants to trade on NXT asset exchange, for them to acquire or dispose of that many Nxtcoins will soak up all the liquidity in the NXT markets and cause the price to whipsaw....because they are forced to do transactions denominated in NXT. This means the big money would never get into NXT because they would self-destruct the NXT economy.

The alternative is to have assets CHASE.USD where Chase Bank issues US$1 billion worth and let people trade Chase.USD directly for other assets, and only pay for their transaction fees in Nxt.

Right now if I want to buy an asset, I have to use NXT, which is fine when you're dealing with small time stuff.

I think he has a good point and I can't think of a way to refute it.

James, maybe this message would be better off in the asset exchange thread?

You'll get more traction there rather than get buried ITT.

Can the problem be solved by introducing NxtSatoshi's? 0.00000001 NXT? There is much more NXT to circulate.

I'm really not that good in math, just hope I can help.  

EDIT: I seemed to be too late. Nice holiday James! 

[Daedelus]

PLEASE VOTE IN THIS POLL:

What currency should be used to price and purchase Assets on the upcoming NXT Asset Exchange?


https://bitcointalk.org/index.php?topic=524432.msg5814924#msg5814924

I may be too late to the discussion (I am reading through) but the same question asked for Nodecoin...


Even if we agree to price all assets in Nxt...

can we stop someone else from coming in and providing a multisig/something else that allows trading without using Nxt?


EDIT: Nevermind, I think we have figured out what decentralised development means RE: Muahahahahahaha! 

[Daedelus]

Consider that every asset pair needs a market for bid/ask to be filled.  When denominated in NXT, N assets provide N markets.  However, if assets are traded directly then would require N! (N factorial) markets, which gets LARGE VERY QUICKLY.  Therefore, direct trading by asset pair could greatly limit available liquidity in any single market.

No, it wouldn't be factorial, it'd be N(N-1) because every asset would have to know it's price relative to every other asset, there are N assets, each of which needs to be traded against N-1 other assets.. right?

Oops, not factorial.  You are correct, but divided by two (if ask/bid grouped as single market) So is: N * (N-1) / 2

Consider 6 assets A, B, C, D, E, and F:

A<->B
A<->C
A<->D
A<->E
A<->F
B<->C
B<->D
B<->E
B<->F
C<->D
C<->E
C<->F
D<->E
D<->F
E<->F

Consider 1000 assets:
499500 markets.

+1440 for the maths, CIYAM will be very pleased

[bitcoinpaul]

Listen to Adam B. Levine's comments from the most recent episode of Let's Talk Bitcoin. Listen between 12:12 - 13:30 he says, "Nxt looks like Bitcoin will look like in 5 years, only it's here today and you can see it!"

+1

[L5Society]

However, now the US government has to make sure that oil producing countries only accept USD for their oil, or else the value of the USD will plummet and cause economic havoc for the US and the world. This is one reason that the US government is so friendly to the Saudis.

This is also why they hung Saddam Hussein...   

  haha you went there. not me. i tried to write that post with as little political commentary as possible.

[bitcoinpaul]

Saddam didn't approve global warming.

[bitcoinpaul]

Think of Nxt being like the cigarettes in a prison. People can trade cookies for soap, which requires one hungry prisoner and one dirty prisoner. However EVERYONE accepts cigarettes, even non-smokers because cigarettes can get you anything.

NXT should be cigarettes and NXT Nxt should also be the prison.

Interesting.

[lucky88888]

But initially, yes everything must be denominated in terms of Nxt until we are bigger than Bitcoin.  Otherwise it's kind of like free advertising for them.

+ 1 Billion NXT

You are right, nobody has heard of BTC or USD. What was I thinking, giving them free PR

Seriously James, Where do you live? Can we drink a few bottles of wine sometime soon?

Buenos Aires, but I dont drink
-----

I dont understand all this non-math thinking. I thought crypto peoples trusted in math.
If you are going to do a $10 million trade, you want to do it at a known price. Breaking it up into 1000 pieces is NOT a viable option. Paying double spreads is NOT an option. We are basically saying forget about any large trade volumes in NXT AE

Try to put your distaste for PoW mining. You do have to admit that a lot of people are very happy to be able to do this abomination type of thing. The market wants what the market wants. People already have mining gear. All they can mine is the garbage coin of the day, when they really want good long term crypto, which is on a short list.

OK, let me try a different angle.

Imagine that somehow miraculously we get BTC denominated trading in NXT AE and it gets 10% of all crypto trading. This is bound to get some press coverage, even without our help. Now, we are being mentioned in the Wall Street journal and major papers as being a significant threat to all the centralized exchanges. People who never even bothered with crypto start investigating. They arent rocket scientists, but they gots tons of money. Do you think they will buy BTC or NXT? Remember, they are finding out that NXT enabled BTC trading. That implies that NXT is more powerful than BTC. BTC cant trade itself, but NXT can not only trade itself, it can trade BTC.

Ricky, you are right, what if the world finds out NXT is so much better than BTC. They just might start buying so much NXT there wont be any left to use a 1.0 currency

James

+1
sorry ricky, i think james got a better point. he is thinking the bigger picture. we should not limit nxt.

[swartzfeger]

All,

it's been a few weeks since there's been any meaningful discussion regarding Nxtopia. I'll drop an unofficial, informal non-announcement teaser (did I cover my ass enough?)

We've unanimously and enthusiastically selected a Community Manager. He has the bona fides.

The most important quality is that he's a listener. I've been on fidonet/the internet for about 22 years now, and he's the nicest, most even-handed and fair-minded individual I've met online. I can't imagine anyone else for the role; we think you'll agree.

This means we have some upcoming announcements, possibly a week out but hopefully sooner. Thanks!