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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755812 times)
Daedelus
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March 21, 2014, 08:26:17 AM
Last edit: March 21, 2014, 09:45:06 AM by Daedelus
 #46701

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!  Wink
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Daedelus
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March 21, 2014, 08:27:25 AM
 #46702

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 Cheesy
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March 21, 2014, 08:35:14 AM
 #46703

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
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March 21, 2014, 08:39:45 AM
 #46704

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...    Roll Eyes

 Cheesy haha you went there. not me. i tried to write that post with as little political commentary as possible.
bitcoinpaul
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March 21, 2014, 08:41:30 AM
 #46705

Saddam didn't approve global warming.
bitcoinpaul
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March 21, 2014, 08:45:17 AM
 #46706

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.
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https://nxtforum.org/


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March 21, 2014, 08:49:46 AM
 #46707

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.

Fuck Mt.Gox! Fuck Mintpal! Fuck Bter! FUCK kyc! Protect yourself use MGW! SUPERNET!
Recommended ASSET ->InstantDex : Lead Dev Jl777 (decentralized multi currency instant exchange)
Recommended ASSET -> Jinn : Lead Dev Come-from-Beyond (ternary processors!)
https://nxtforum.org/news-and-announcements/(ann)-jinn/
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March 21, 2014, 08:50:38 AM
 #46708

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!
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☕ NXT-4BTE-8Y4K-CDS2-6TB82


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March 21, 2014, 08:51:00 AM
 #46709

Saddam didn't approve global warming.

srs bsns.
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March 21, 2014, 09:13:13 AM
 #46710

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

+1, james please don't shutdown,  Smiley

NXT: 13997163105778396158
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March 21, 2014, 09:15:50 AM
 #46711

James just do your thing. Many people support your ideas. Do what you want to do and don't let people get in your way.
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March 21, 2014, 09:20:30 AM
 #46712


NXT will always be needed to create an entry into the public ledger as a transaction fee, and should gain in value as more uses are created.  (And IMHO, fees should be kept exceptionally low to encourage widespread adoption and use -- money flows to efficiency).


wise words!!
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March 21, 2014, 09:23:25 AM
 #46713

I think we should vote again about how much fee NXT should have. Because we know much more today, than we did last month during the poll about Fees.

Or would this disturb the development of NXT? If yes, then I said nothing.

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March 21, 2014, 09:30:43 AM
 #46714

He said the v-word.
He said the f-word.

Right now fee is not a real incentive to forge and run a node. Let's keep it this way and lower it to .01 for smooth AE trading.
igmaca
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March 21, 2014, 09:50:19 AM
 #46715

I think we should vote again about how much fee NXT should have. Because we know much more today, than we did last month during the poll about Fees.

Or would this disturb the development of NXT? If yes, then I said nothing.

fee upgrade must be dynamic and automatic
Daedelus
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March 21, 2014, 09:55:41 AM
 #46716

I think we should vote again about how much fee NXT should have. Because we know much more today, than we did last month during the poll about Fees.

Or would this disturb the development of NXT? If yes, then I said nothing.

fee upgrade must be dynamic and automatic


OpC has been banging his head against the wall with this being related to the size of the transaction (CfB agrees as it also solves a technical problem of spam prevention (it is in his posts from when this was discussed a while back)).

Igmaca has suggested ammendments to OpC.


These two points are where the discussion should continue from, I don't think we need a poll as there appears to be at least one technical solution.
bitcoinpaul
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March 21, 2014, 10:05:21 AM
 #46717

Poll doesn't make sense and is a waste of time.
Fatih87SK
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March 21, 2014, 10:07:17 AM
 #46718

Poll doesn't make sense and is a waste of time.

Alright  Grin

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March 21, 2014, 10:09:49 AM
 #46719

I think we should vote again about how much fee NXT should have. Because we know much more today, than we did last month during the poll about Fees.

Or would this disturb the development of NXT? If yes, then I said nothing.

fee upgrade must be dynamic and automatic


OpC has been banging his head against the wall with this being related to the size of the transaction (CfB agrees as it also solves a technical problem of spam prevention (it is in his posts from when this was discussed a while back)).

Igmaca has suggested ammendments to OpC.


These two points are where the discussion should continue from, I don't think we need a poll as there appears to be at least one technical solution.

Here there are a proposal

https://nextcoin.org/index.php/topic,4474.0.html
https://forums.nxtcrypto.org/viewtopic.php?f=17&t=882
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March 21, 2014, 10:10:14 AM
 #46720

I don't think we need a poll

i've been following this thread since december, the fee discussion was debated so many times so far, that i believe this should be left to the dev team to decide. There are a few subjects that seem to derail the conversation completely.
I feel that, like daedalus said, since there appears at least one technical solution the tech guys could settle this for us.
Just a sardines' opinion.

1PeecNu1J8VNKpgR13nasMZWLcMZrwNJfc
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