NXT :: descendant of Bitcoin - Updated Information

[Emule]

hmmmm back to new lows

PoS is not proof of stake, but piece of shit

dump dumpedy dump and no i dont know 2 gen

[CIYAM]

So if the first thing we do is prevent any business from being able to use their own name without extortion it is *hardly going to be appealing*.

what are they doing with domain names since internet is born ?

Again - in many countries it is *illegal* to squat names (such as Australia) - the world isn't just the US.

[Emule]

nxt gives meaning to the term dumpcoin the only coin where they dump without pump

maybe you should consider name change 

[lophie]

Could you explain what you are working on in more detail?

A decentralized DNS routing system that passes encrypted objects from one peer to another using a hallmarked server as a relay point.

Cant wait for tor hidden servicea to start using it!

[bitcoinpaul]

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.

+1

[BrianNowhere]

Thank you for reminding him. Instead of letting this discussion play out.

Because this all just an effort to "try and undo" his decision.

Nope, I simply want the community to see it, and try it, before deciding on it. As there is no way back.

Again, if the people here do not want this I can simply remove it again. It's a prototype, which I assume you are familiar with.

Wesleyh how about allowing the user to assign a "contact name" to an issuers NXt address?

I can only compare Ripple again, where you provide a "trust line" to a Ripple Address and their Assett.
The way that works is first you set up a trust line for reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC to sell you BTC.
Actually now that I think of it there's usually a separate address for each Assett, but nevertheless.

Then, when you go in the trading section and look for BTC you will see reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC as one of the isssuers you trust.

To make this neater you can "create a contact" and name reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC to whatever you want, say Bob's Bitcoins.

Now when you go into the trading section and look for BTC you'll see "Bob's Bitcoins" as one of the issuers you trust an you can buy Bitcoins from them.

Is there anyway to identify assets being issued according to the Nxt address they are tied to? Can assets be tied to nxt addresses?

[bitcoinpaul]

There is already another field. It's called account ID

+1



I know you are in the middle of the discussion. Just wanted to express my opinion that the current 'solution' by wesleyh (using unique Aliases) is a bad idea. I really don't like it since we now have the same problem (or worse) as with unique asset names.

But you are in the middle of the discussion and moved forward, I see. So keep it coming, guys!

[Eadeqa]

So if the first thing we do is prevent any business from being able to use their own name without extortion it is *hardly going to be appealing*.

what are they doing with domain names since internet is born ?

The domain names expire though. You have to pay to keep it. in nxt case domain are life-time. Even after you are dead, no one can still use them

[Eadeqa]

So if the first thing we do is prevent any business from being able to use their own name without extortion it is *hardly going to be appealing*.

what are they doing with domain names since internet is born ?

Again - in many countries it is *illegal* to squat names (such as Australia) - the world isn't just the US.

Something decentralized (and more anonymous without a central registrar) like nxt, it really doesn't matter as no legal actions can be initiated.

However, there is a problem with life-time owning the domain, even after the account is lost (forgotten password, dead person) that domain name is gone forever.

[lophie]

So if the first thing we do is prevent any business from being able to use their own name without extortion it is *hardly going to be appealing*.

what are they doing with domain names since internet is born ?

Again - in many countries it is *illegal* to squat names (such as Australia) - the world isn't just the US.

Something decentralized (and more anonymous without a central registrar) like nxt, it really doesn't matter as no legal actions can be initiated.

However, there is a problem with life-time owning the domain, even after the account is lost (forgotten password, dead person) that domain name is gone forever.

Why dont we do it namecoin style? If we implement a decenteralized auction as well this can be so cool.

[Mario123]

Also I want to redirect NXTarea.com to http://mynxt.org/, Mario is that okay for you?

Ok Welcome back (soon)!

[Mario123]

We need guys in the marketing of Nxt who are native english speakers. I really appreciate the work of salsacz, but in some of his writinigs he uses phrases that can be misinterpreted or that are simply not appropriate.
We also need speakers for Nxt. Speakers with technical background who are able to represent Nxt in videos, interviews, people like rickyjames and Anon. But more of them, and also ones who are ready to travel to conferences.

I am in talks with the Vienna Bitcoin Conference guys, they already offered me to talk about Nxt, which is great, but I won´t be able to tell them more about it, than how cool it´s features are, because I have no clue about the cryptographical, mathematical or coding aspects. So here, for example, I would need someone to get with me on the stage and take over where it is getting more techy.

I can do all of this.  On top of my career as a professional actor (and the implied comfort with media work that comes with such employment), I have an engineering degree.  I understand Nxt quite well, and have been here since the first week of December.  I'm not a computer scientist or a cryptographer, but I know enough to represent Nxt very well.

I've decided NOT to head to Bitcoin Expo in Toronto due to its Bitcoin-centric content.  But I'm happy to speak to anyone about Nxt.  

This is cool! +1 Joefox! And I think we are in desperate need of a pool where we (and journalists, conference organizers) can choose from for different occasions (interviews, podium discussions, conference attending, speaker positions). I would like to collect names and some infos from the community for this. If anybody has any name suggestions or ideas, please PM me or reply here.

Mario

[Jerical13]

[Math Lesson]

I want to explain some things that are very clear to me, but it seems that almost everybody else has come to the opposite conclusion. So, either my math is wrong, or nobody else has done the math.

The question is do we want everything in AE to be traded via NXT.

joefox is only partially correct that if the market wants this we cant stop a layer that hides the AssetA <-> NXT <-> AssetB transaction. If the market really wants this, there will be AssetA <-> AssetB direct trading. I already know how to do this.

Before you start slamming out a reply, please bear with me. I have a clarifying example.

Q1. Do you want USD assets to exist within NXT AE?

If you answered no, they you can skip reading the rest of this post and start flaming away. If you think having USD assets in AE might actually benefit NXT, here is

Q2. How much USD assets do you want deposited into NXT AE?
a) $100,000 USD
b) $1 million USD
c) $1 billion USD

If you answered a) or b), stop reading and start flaming away. If you answered c)

Q3. If all AE trades are denominated in NXT, then how do you propose actually dealing with $1 billion USD deposit.

If you can post a coherent answer to Q3 other than "NXT will be worth $10 billion and it will easily absorb $1 billion" then I might change my mind. I am not an economist, just a simple C programmer. When I write a program to deal with $1 billion of assets, but only have $30 to $50 million of NXT total and much, much, much less in active circulation, my conclusion is that if we limit AE trading to being just NXT, we will be lucky to have $1 million USD of assets deposited.

Q4. Are you still 100% sure that you want to restrict all AE trading to be in NXT?

James

Would I be correct in assuming the USD's would be introduced to the NXT network via your gateway?

I think that only NXT should be allowed for tender on NXT AE and for fees and for any other feature that are implemented on the NXT blockchain (market place, etc).

I have made this suggestion before, but I don't know if it is possible: Create a wallet /client that would facilitate holding, spending and receiving external assets, and assets created on the AE, and any coin created on top of the NXT network. In other words, a client that would work for USD's that were introduced through the gateway. This would allow for the use of USD's  in purchasing goods and services on the NXT blockchain, with fees still paid in NXT. In this model, the AE would still have NXT as the base currency though, and NXT would still be the base currency for the network and there would be a common demand for NXT in at least  as much as were needed to pay fees and make purchases on the AE, as well as any other demand that could be leveraged or that would come into existence organically.

The demand for NXT would increase as confidence in it increased. If NXT were backing a broad range of external assets, internal assets, and coins created to function within the NXT network,  it would seemingly achieve this confidence by default. This leveraged demand would only be complimented by what is in my opinion, NXT's being a better form of currency than fiat and other cryptos.

[CIYAM]

Why dont we do it namecoin style? If we implement a decenteralized auction as well this can be so cool.

Because .bit is *a failure due to the squatting*.

Perhaps some might think it is "cool" to have a .bit domain that no-one uses but I don't think that any "major corporation" in the world has one nor probably ever will.

[Eadeqa]

Hey ciyam, you see what happens when you push an idea / prototype? Discussion. Which results in new ideas. Good!

There is already a great invention for trust called GPG - maybe if we can help make *that* more user friendly we could integrate its usage *with* the Nxt platform.

I think the idea of "personal" aliases (unique attributes belonging to a user) could be helpful for that (one of those could be GPG fingerprint).

The trust list can't be encrypted as the server needs to know if someone is in your list. Otherwise how would the server reject an asset buy from non-trusted issuer? edit: sorry that part is probably wrong.

Nxt doesn't need GPG. There is already a public key that can be used to encrypt something (client side) and the private key will decrypt it. Or is that not possible?

[BrianNowhere]

So if the first thing we do is prevent any business from being able to use their own name without extortion it is *hardly going to be appealing*.

what are they doing with domain names since internet is born ?

Here is the US you can litigate for the rights to your trademarked name. If you squat a name someone has IP rights to they will just take it away from you and give it to whoever should rightfully own that name. With decentralized systems like namecoin (.bit) there's no authority to do this.  

I have squatted some nxt aliases just in case they become transferable. If so I would sell them for a small profit. Ideologically though, I think squatters are bad for these kinds of systems. namecoin (.bit)  is never going to take off because of it and good nxt aliases are already pretty much all taken before it's even gotten off the ground.

[Eadeqa]

Hey ciyam, you see what happens when you push an idea / prototype? Discussion. Which results in new ideas. Good!

There is already a great invention for trust called GPG - maybe if we can help make *that* more user friendly we could integrate its usage *with* the Nxt platform.

I think the idea of "personal" aliases (unique attributes belonging to a user) could be helpful for that (one of those could be GPG fingerprint).

The trust list can't be encrypted as the server needs to know if someone is in your list. Otherwise how would the server reject an asset buy from non-trusted issuer? edit: sorry that part is probably wrong.

Any  opinion on that?

How would "trust" work if the list is encrypted?

[bitcoinpaul]

Keep the discussion about asset names running.

About the trading between different Assets (I had to think about it for some time, so some things were already pointed out I believe):

- With AT, it is possible to trade between different Assets without using NXT. But the first step is that someone *wants* to trade exactly these two pairs. So we won't have AE cluttered with corn/oil and seasalt/schmoggleboggles pairs (O(n^2)) as long as there is no one who wants to trade it. Like the cigarette analogy in prisons. NXT provides fungibility, and Nxt provides free markets.
- Afaik, with AT, we cannot prevent these trading pairs to popup. We should foster it instead (see next point)
- Nxt is about the free market. Business people want to be free and not restricted on how to do their businesses. Nxt should embrace these free markets to attract business people and the (free market minded) crypto community in general

That's my understanding right now.

[wesleyh]

Thank you for reminding him. Instead of letting this discussion play out.

Because this all just an effort to "try and undo" his decision.

Nope, I simply want the community to see it, and try it, before deciding on it. As there is no way back.

Again, if the people here do not want this I can simply remove it again. It's a prototype, which I assume you are familiar with.

Wesleyh how about allowing the user to assign a "contact name" to an issuers NXt address?

I can only compare Ripple again, where you provide a "trust line" to a Ripple Address and their Assett.
The way that works is first you set up a trust line for reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC to sell you BTC.
Actually now that I think of it there's usually a separate address for each Assett, but nevertheless.

Then, when you go in the trading section and look for BTC you will see reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC as one of the isssuers you trust.

To make this neater you can "create a contact" and name reN4oyRpY7nEKiSLxE6nxdXWc3veYi1QC to whatever you want, say Bob's Bitcoins.

Now when you go into the trading section and look for BTC you'll see "Bob's Bitcoins" as one of the issuers you trust an you can buy Bitcoins from them.

Is there anyway to identify assets being issued according to the Nxt address they are tied to? Can assets be tied to nxt addresses?

I already have (client side) contacts in my web client. Check it out. An asset will show up as issued by "Bob" if you have set that person up as a contact.

[CIYAM]

How would "trust" work if the list is encrypted?

There would be no reason to encrypt your trust list unless you wanted to keep it outside of Nxt (in which case just use GPG).

GPG also gives you "levels" of trust which is another thing to consider (e.g. "someone I've met in person" would have a higher trust level than someone I'd only met via forum or chat).