NXT :: descendant of Bitcoin - Updated Information

[mczarnek]

http://hashrate.org just paid out it's third payout.  (http://hashrate.org/payouts.html)
Five miners took home over 100 NxT, two miners took home over 200 NxT and one took home over 400 NxT
Start mining for NxT today!

just curious.
How to mine Nxt with specialized rig?

At the moment I am mining in both pools with an ASIC miner using cgiminer. You can also use GPU miners using scrypt. Is that what you mean?

I just mean there is no mining in Nxt.
So why and how use these hash power of specialized rig for Nxt mining? principle?

Let's say you bought one in the olden days, you can still make money using it but realize that Nxt is the one going up in the long term.

Plus, you mine their coins, dump them on their market and buy Nxt... Nxt goes up, other coin goes down

[allwelder]

I just had a look at the excel sheet in your signature, rickyjames!
It´s amazing to have a look behind the courtains and see the enormous work that is put into the projects.

Keep up the great work!

yes,great enormous works

[wakasaki808]

allwelder: smoking is bad, but poeple still smoke

+1

Even though NXT is "GREEN" doesn't mean we should just forget about the many mining rigs that are available that won't go away any time soon. I've used my mining rig prior to the NXT multipools to mine BTC then convert to NXT. This cuts down on one step The NXT mining pools do nothing but help NXT go up with all the alt-clones go down because of how they work.

The way I view it might as well use mining rigs for as long as can if it's available. Cater towards the many instead of the few.

[paradigmflux]

heck hashrate.org has paid out nearly 5000 NXT in the last couple of days in return for miners contributing scrypt hashrate!!!

[allwelder]

Nxt is on the way to moon...

[lounge]

Nxt is on the way to moon...

 

[Pouncer]

Let the market work.

Let people do business however THEY see fit.

Do not try to force people to use YOUR favored currency. That is behavior suited for governments.

NXT will succeed, IF we empower people to do business in THEIR preferred way.

+ Very well said (the whole post).  Trades can be denominated in any currency. BUT, if there is any attempt to force traders to use a particular currency/token, then it must be NXT and nothing else. In other words, free for all, or only NXT. I hope it will be implemented this way, provided there are no serious technical issues.

A decentralized, flexible trading platform with low fees, multisig gateways, plus special high end features using AT will make Nxt AE a class of its own!

[Anon136]

I've been thinking about limiting trading pairs to only nxt crosses and whether that's possible and i think it is. The only thing is that if people in the other camp were super stubborn than we could potentially get a fork and get 2 separate nxt's one with and one without alt crosses. I would say that there are definitely very good reasons to want to limit crosses to nxt but if people really felt so strongly about it as to force a fork than i would back down, it isn't THAT big of a deal. The world would keep spinning even if people traded other crosses.

*edit* just remember that if we are competing with other people and they have crosses all over the place with everything trading against everything else and we are committed to crossing everything against nxt, our markets would be THE go to place for prices and any orders that are even reasonably large. Large orders would just move the other thinner markets too much in the process for it for anyone big to play there. *edit2* unless they bought a little bit of everything and executed trades on every cross at the same time, but who wants to deal with that.

[CIYAM]

I can see this becoming another big circle - and while we are at it with circles again I will point out that Wesley's "suffix" for an Asset name *will support scammers*.

There was a very good reason why JL *removed* unique Asset names - to use these "suffixes" which are tied to "aliases" would *undo* the very point of the change.

Right at the moment there are *two* CIYAM Assets in testnet.

According to this "suffix" idea one could use the alias say CIYAM to show you the "real one".

*except*

I don't own the alias CIYAM in testnet - so actually it would be showing you the "fake one".

[chanc3r]

Yes, we still haven't hit a SHA256 round.
As soon as we do, I am going to replacing the SHA256 port with a P2P port to ensure more consistant SHA payouts.

I'm hashing SHA-256 on nxtp00l.org.. but interest seems to be dropping so I may move my miner..
Are you guys running both this and hashrate? I'm confused about that.
Also what do you have in this space on hashrate?  - site only shows the scrypt stats which is why I haven't used it.

[xyzzyx]

I can see this becoming another big circle - and while we are at it with circles again I will point out that Wesley's "suffix" for an Asset name *will support scammers*.

There was a very good reason why JL *removed* unique Asset names - to use these "suffixes" which are tied to "aliases" would *undo* the very point of the change.

Right at the moment there are *two* CIYAM Assets in testnet.

According to this "suffix" idea one could use the alias say CIYAM to show you the "real one".

*except*

I don't own the alias CIYAM in testnet - so actually it would be showing you the "fake one".

I like the hierarchical names that were proposed for XCP a few days back.  If that's not going to happen for Nxt, I think asset names should be generated by the client using a hash.  The description would then contain a "name" as well as a description.  If someone is looking for your asset, the hash would be a unique tag that you could provide to verify the correct one.  This is similar to how offical NRS releases have a SHA hash associated with them.

<shrugs>

[CIYAM]

I have no problem with hierarchical names *provided that no part is unique*.

As stated the reason for preventing unique Asset names is to "help stop people from being easily scammed".

We do already have a "unique id" for each Asset - it's just that Wesley "doesn't like to show numbers".

So the issue is a "safety/security design measure" being overridden by a UI "display preference" (a bit like removing the seat belts from the car because "they look ugly").

[Anon136]

Any theories on the recent price movements in Nxt? Both the downswing and the upswing of recent days show a striking independence from the price of Bitcoin, and it seems like Nxt and AUR are the only top-10 alts whose price movements have become a bit detached from BTC. (Litecoin's brief spike was clearly due to talk of a big Chinese exchange being about to add LTC). Are Nxt's recent movements due entirely to the whales unloading a big pile, then the pile eventually getting all bought up? Or is something else/more going on? Other factors seem to be the imminent release of the AE and the new development of Nxt mining. Thoughts?

i do not know what to attribute the price swing to but i just wanted to point out that i also have noticed the striking independence from bitcoins price. not just in this swing but in general always nxt has been like that. to me its EXTREMELY long term bullish, no other altcoin behaves this way that i am aware of. for better or worse nxt is its own animal entirely.

[chanc3r]

Any theories on the recent price movements in Nxt? Both the downswing and the upswing of recent days show a striking independence from the price of Bitcoin, and it seems like Nxt and AUR are the only top-10 alts whose price movements have become a bit detached from BTC. (Litecoin's brief spike was clearly due to talk of a big Chinese exchange being about to add LTC). Are Nxt's recent movements due entirely to the whales unloading a big pile, then the pile eventually getting all bought up? Or is something else/more going on? Other factors seem to be the imminent release of the AE and the new development of Nxt mining. Thoughts?

I've posted this before....

I think BTC will soon register as a cause of global warming the way its is soaking up the worlds energy supply for something that is a mathematical fiction and simply not needed.

Most crypto enthusiasts are sitting on mining H/W of some form and therefore tend to be enthusiastic about new coins they can rape mine with the H/W they can't use on other coins anymore.. hence the lack of

Putting aside distribution issues PoS seems to be more about technology, innovation and driving value through use - which is a lot harder but much healthier in the long term for everyone involved.

The dip - some FUD but more importantly NXT stakeholders improving distribution by selling....

The rise - My personal view I think NXT is breaking through in technology and innovation while others are just talking about it.... The first two of these are evident in this thread, the 3rd one, driving use, is harder but I'm sure as some of the innovations which are very close are delivered then we will see this happen.

EDIT: I think its this community that helps drive our independence from the bitcoin world...

[Eadeqa]

Guys in regards to Asset for Asset trading understand 2 important things:

1. Fees in NXT are required.
2. Further fees in NXT are required to create and execute an AT.

Also the idea of adding an alias to an Asset IMO is a *bad* one - you've just let the squatters/scammers back in who now look like they are more legit (because naive people are going to believe that Software.Microsoft really is Microsoft as that's how you've described it to them by calling it "branding").

Just "because you don't like non-unique names" is really not a good reason to *support* scammers (which is how it will be perceived when people work out "they were tricked").

There is already account ID that is unique. Let users do the research and force them to add the legitimate asset issuer to their trust list.  Then display only those assets to the user. What's wrong with this scheme? Can anyone explain? This will reduce (if not outright kill)  scam.

Unique name is really bad idea. If I issue "bitcoin" as an asset, then I am the only owner of that name for ever, even if I don't have any bitcoins.  No one is able to use that  name again. I am forever squatting on it. That sounds really bad.  


 

[Anon136]

Guys in regards to Asset for Asset trading understand 2 important things:

1. Fees in NXT are required.
2. Further fees in NXT are required to create and execute an AT.

Also the idea of adding an alias to an Asset IMO is a *bad* one - you've just let the squatters/scammers back in who now look like they are more legit (because naive people are going to believe that Software.Microsoft really is Microsoft as that's how you've described it to them by calling it "branding").

Just "because you don't like non-unique names" is really not a good reason to *support* scammers (which is how it will be perceived when people work out "they were tricked").

There is already account ID that is unique. Let users do the research and force them to add the legitimate asset issuer to their trust list.  Then display only those assets to the user. What's wrong with this scheme? Can anyone explain? This will reduce (if not outright kill)  scam.

Unique name is really bad idea. If I issue "bitcoin" as an asset, then I am the only owner of that name for ever, even if I don't have any bitcoins.  No one is able to use that  name again. I am forever squatting on it. That sounds really bad.  


 

+1. this in addition to a way to sort by total fees spent on trading a given asset scams will not be a big deal at all.

[CIYAM]

And before the defense that "it is only a unique suffix" comes up please consider the following "name pairs".

Crypto:BTC
Fiat:USD
Software:Microsoft
etc.

These names (or very similar) *will* appear (as scams) if we allow them to be "unique" (regardless of which part of the name is unique).

[allwelder]

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!

wow +1

[allwelder]

James, I am not going to question or even comment further on any of your ideas.  It seems to me that every time I do, you take it as distracting  neanderthal personal attack and threaten to quit NXT development because both your work and your vision for NXT is so unappreciated.  This is never my intention.  I have only intended to initiate respectful, honest debate on critically important topics.

I do not believe it is appropriate that you have someone you apparently consider to be an ongoing adversary to serve as a treasurer for the funds you control.  Please identify whom you trust to serve in this role and upon their concurrence I will deliver to them passcodes to NXTcommunityfunds, NXTcashoperatingfund and NXTcashcompletionfund.

Best wishes to you and to NXT.

calm,please.
we are just talking the Nxt development.

[IveBeenBit]

Since James is on break from the forums, can I ask someone to give me a summary of the coin that shall not be named? I was away from the forums when the controversy surfaced. What sparked it, and what were the major arguments from both sides?