NXT :: descendant of Bitcoin - Updated Information

[jztxeno]

any news with EUR/USD / NXT exchange?

[Come-from-Below]

NXT is like PRISON? MMMM This sounds good to me

Hi, evil twin.

Hi dudes.

[jztxeno]

Come-from-Above MIA

[Sebastien256]

We have no 100% thrust forum. nxtcrypto can go down anytime and nextcoin is too affiliated with graviton dgex. I am wrong

Yes, you're wrong. Nextcoin.org is working perfectly for any community group efforts that are being coordinated there, and there are a bunch. The initial badmouths have done good job in twisting the image of nextcoin.org - which IS a community forum despite me being the admin. The forum has an active moderation policy operated by community members. Distracting and harassing content is not tolerated, which is a positive aspect since it keeps progress very focused. Fortunately we have sailed smoothly with our 5100+ members since the few initial trolling inclinations were got rid of.

I encourage transfer of community efforts to nextcoin.org from this clumsy thread, and will soon have more good news that will technically kick up support of project management over there.

Don't you just prove the point? " despite me being the admin"
Im sorry but this sound to me like conflict or too centralized if you are the only admin (are you?). I would be happy to change my mind with a good argumentation if you can provide one. Maybe im wrong and I don't understand. Dont take this personnal. What nextcoin is doing for Nxt community is great imo.

[From Above]

NXT is like PRISON? MMMM This sounds good to me

Hi, evil twin.

Hi dudes.

Come-from-Above MIA

Pardon?

Come-from-Behind
Come-from-Beyond
Come-from-Below
Come-from-Above

Has anyone seen Come-from-Beyonce lately?

[IveBeenBit]

There *will be a readable* name - the choice is one of two:

Microsoft (a fake but readable name)

or

Microsoft:12334
Microsoft:12345

Uh oh? What it this - seems I need to find out more.

Which method is "helping" the end user to get *scammed* and which is not?

Microsoft:1246 looks ugly, but I see your reason for insisting on allowing non-unique names. A client could also offer the option to sort by trading volume among all Microsoft:xxxx assets. The one at the top if the list with $1 billion in commerce over the past week is probably the legitimate one. The ones with $300 worth of commerce are probably fakes.

[GCInc.]

Don't you just prove the point? " despite me being the admin"
Im sorry but this sound to me like conflict of interest. I would be happy to change my mind with a good argumentation if you can provide one. Maybe im wrong and I don't understand. Dont take this personnal. What nextcoin is doing is great imo.

The problem with "decentralization" is that things get jammed and do not move anywhere, just like this thread. Was nxtcrypto.org not meant to be decentralized? Every forum does need administrator(s) and moderators, there is no way out of that with any decentralization babble.

Things progress with least friction when there is strong leadership that can delegate responsibilities, just like nextcoin.org is doing with very few carefully picked global moderators. I mostly oversee the operations and have intervened only in the most critical points that are stagnating progress and directing focus to degenerating directions. Such authority lacking, I foresee problems that hinder progress to continue. On the other hand, I am open for suggestions on how to make nextcoin.org better. It would be foolish to start anew when we have a community of 5k members running nicely.

[Jerical13]

James,

I think you aren't taking into account that whoever has the NXT doesn't want USD's. If I had a large vestment in NXT (which unfortunately I don't), why would I want to trade it for an inferior currency like USD's? To get me to come of off my NXT you are going to pay MY price. If any other currency other than the NXT currency is given influence like this in the NXT ecosystem, it would automatically denominate the NXT currency to a point of weakness in terms of value for negotiation and purchasing power. NXT currency should be the dominant currency in the NXT ecosystem (imo).

USD is currently the world currency. Everyone know it. That's why people want to use it, even if it's "inferior".

NXT will be the dominant currency in the NXT ecosystem no matter what, because that's just logic. But we need to let people make their choice and don't enforce our currency.

I'd like to repeat an analogy I mentioned the other day in here which I liked, which is to compare the NXt economy to a Prison. Nxt AE is the Prison itself and within this prison the prisoners have all kinds of needs and they trade amongst themselves. A dirty prisoner will trade his cookies to a hungry prisoner for Soap. That prisoner might take half of those cookies and trade them for toothpaste. These trades require trust because during any of these trades one of the prisoners might pull out a shank and just take your stuff.

NXT the currency however is like buying Cigarettes from the Prison Commissary (In our Prison the Commissary only sells Cigarettes) . When you buy NXT you are getting it from the institution, so you don't have to worry about trust or getting shivved. NXT being a math based digital currency requires no trust at all. Commissary cigarette prices can still fluctuate on their own based on supply and demand and so it will be with NXT (the digital currency).

Once AT is implemented you'll also be able to buy Soap, Toothpaste, etc with a guard present so at some point NXT/Cigarettes will have to compete with everything else to remain as the reserve currency, but since NXT (Cigarettes) are so awesome (addictive) and has properties that make it very easy to trade (lightweight, comes in packs, small size) it has little to fear from other commodities that are not so easily traded.

it's not a perfect analogy I know, but I think it shows how Nxt should be like a little self contained economy and NXT the currency should have to compete for dominance within it but will likely become the reserve currency because it will be universally accepted.

What would guarantee its universal acceptance? If trading anything on the network for USD's is allowed the only guarantee is that NXT will be the currency that fees are charged in. I think this would only serve to make the NXT currency less accepted and less in demand. I agree that NXT should have to compete for dominance, but as a platform on a whole; and the base currency of that platform should not be undermined by allowing other currencies that level of influence within the platform.

If you look at the reason that the USD is so strong, it is because of legislation that made it THE legal currency for a strong economy.  The USD does compete with other currencies for statuses of worth and purchasing power and rate of exchange, but it is allowed a high degree of no competition in its native economy. if you want to buy something with Euros, you have to buy from Europe. If you want to buy something with Loonies, you have to buy Canadian. It should be the same with NXT. If you want to buy something in the NXT ecosystem, you should have to do it with the native currency.

[IveBeenBit]

Finally, the idea of unique alias tied to asset name is a bad idea. It clear that this solution is problematic, this problematic is the same as the unique asset name.
The only method that will be working is to allow free registration  of non-unique asset full name (prefix+suffix). The user should not be taken as dumb. Let the user find out what is the good asset. At first it will be difficult to find the good one, but eventually, when we can sort the asset by volume, it will be easy to find which asset are good and the one that are not good. Volume is like massive positive Vote.

Anyway, if wesley want to do his client like this. It is his choice in some sense. If this solution is not working well, another client will find another solution or he will adapt his client. As long as in the Nxt core, asset name are non-unique, Nxt is strong I think.

Damn! You beat me to it!

[Sebastien256]

Don't you just prove the point? " despite me being the admin"
Im sorry but this sound to me like conflict of interest. I would be happy to change my mind with a good argumentation if you can provide one. Maybe im wrong and I don't understand. Dont take this personnal. What nextcoin is doing is great imo.

The problem with "decentralization" is that things get jammed and do not move anywhere, just like this thread. Was nxtcrypto.org not meant to be decentralized? Every forum does need administrator(s) and moderators, there is no way out of that with any decentralization babble.

Things progress with least friction when there is strong leadership that can delegate responsibilities, just like nextcoin.org is doing with very few carefully picked global moderators. I mostly oversee the operations and have intervened only in the most critical points that are stagnating progress and directing focus to degenerating directions. Such authority lacking, I foresee problems that hinder progress to continue. On the other hand, I am open for suggestions on how to make nextcoin.org better. It would be foolish to start anew when we have a community of 5k members running nicely.

I don'T know how forum right works. But I just don't like (and other) that nextcoin is run on the top level by a business. Is it possible to solve this?

[Anon136]

Finally, the idea of unique alias tied to asset name is a bad idea. It clear that this solution is problematic, this problematic is the same as the unique asset name.
The only method that will be working is to allow free registration  of non-unique asset full name (prefix+suffix). The user should not be taken as dumb. Let the user find out what is the good asset. At first it will be difficult to find the good one, but eventually, when we can sort the asset by volume, it will be easy to find which asset are good and the one that are not good. Volume is like massive positive Vote.

Anyway, if wesley want to do his client like this. It is his choice in some sense. If this solution is not working well, another client will find another solution or he will adapt his client. As long as in the Nxt core, asset name are non-unique, Nxt is strong I think.

Damn! You beat me to it!

I just wanted to say that i don't think the metric here for measuring confidence should be volume. I think it should be total fees payed in the transaction of. That's a much more reliable vote of confidence.

[NxtMinnow]

Hi Gravitron,
I have one really small cosmetic suggestion to make nextcoin.org better. Can you please update the favicon for netcoin.org to the current NXT logo?

Don't you just prove the point? " despite me being the admin"
Im sorry but this sound to me like conflict of interest. I would be happy to change my mind with a good argumentation if you can provide one. Maybe im wrong and I don't understand. Dont take this personnal. What nextcoin is doing is great imo.

The problem with "decentralization" is that things get jammed and do not move anywhere, just like this thread. Was nxtcrypto.org not meant to be decentralized? Every forum does need administrator(s) and moderators, there is no way out of that with any decentralization babble.

Things progress with least friction when there is strong leadership that can delegate responsibilities, just like nextcoin.org is doing with very few carefully picked global moderators. I mostly oversee the operations and have intervened only in the most critical points that are stagnating progress and directing focus to degenerating directions. Such authority lacking, I foresee problems that hinder progress to continue. On the other hand, I am open for suggestions on how to make nextcoin.org better. It would be foolish to start anew when we have a community of 5k members running nicely.

I don'T know how forum right works. But I just don't like (and other) that nextcoin is run on the top level by a business. Is it possible to solve this?

[Sebastien256]

LEt move conversation on AE naming issue at http://107.170.117.237/index.php?topic=4.0

[Come-from-Beyonce]

NXT is like PRISON? MMMM This sounds good to me

Hi, evil twin.

Hi dudes.

Come-from-Above MIA

Pardon?

Come-from-Behind
Come-from-Beyond
Come-from-Below
Come-from-Above

Has anyone seen Come-from-Beyonce lately?

'cuse me, been lurking around in the shadows for too long.

[Come-from-Nowhere]

NXT is like PRISON? MMMM This sounds good to me

Hi, evil twin.

Hi dudes.

Come-from-Above MIA

Pardon?

Come-from-Behind
Come-from-Beyond
Come-from-Below
Come-from-Above

Has anyone seen Come-from-Beyonce lately?

no.

[NxtMinnow]

Good Morning Nxt community! This forum was a little unreliable last night; 502 Bad Gateway Errors from this forum. Now it seems to be under full attack by spammers and trolls. The price action and volume of NXT over the last few days has been impressive, showing that the smart money has moved into NXT. The Nxt community will continue to innovate at the edges of the network. Move the leading edges of Nxt communication from this forum please; post where you are headed if you want.

[IveBeenBit]

What would guarantee its universal acceptance? If trading anything on the network for USD's is allowed the only guarantee is that NXT will be the currency that fees are charged in. I think this would only serve to make the NXT currency less accepted and less in demand. I agree that NXT should have to compete for dominance, but as a platform on a whole; and the base currency of that platform should not be undermined by allowing other currencies that level of influence within the platform.

For all the posting you are doing on this topic, you show no signs of having considered the mathematical reality of what happens when $500 million of business flows into the Nxt system, and they are forced to use only Nxt to settle their trades.

https://bitcointalk.org/index.php?topic=345619.msg5815603#msg5815603

Furthermore, you fail to acknowledge that if a European wants to trade Euros for a commodity or an equity, he will favor the platform that allows him to denominate his trade in Euros. A Nxt fork will emerge that allows that, and we'll all be sitting here as kings of an abandoned currency.

[Jerical13]

The controversy is in whether or not the listed asset names should be unique to one issuer, or if whoever issued an asset could call it what ever they want.

And the controversy has been answered in that it is no different to a Bitcoin address.

Do you just send money to 1MSFT first bits?

Of course not - you'd do your "due diligence" by going to a company's "official website" (in HTTPS) and find where they have the Bitcoin address for you to "copy and paste".

If you guys think it is a good idea that we should spend days and days discussing everything like this in circles then fine - but please understand that the "real work" that needs to be done (which depends upon things like this) just gets *delayed* and *delayed* (probably *exactly* what Ethereum and others would be *very keen* to see happening).

I agree fully. Due diligence is the key really. Verifying who you are buying from is more important than what they call their asset. As long as there is a way for this to happen, that would be best.

I think I see the jest of what you are saying. By using unique assets, it allows for consistent and non-unique seller ID's; which make it easier to cross reference and verify who the seller is. The asset ID is unique and doesn't matter as there will be a label for the asset that will be non-unique, and anyone selling Bitcoins can ID there asset with any unique ID and label it as Bitcoin, and the label will be what is referenced to ID the asset to buyers.

I am with ya

[CIYAM]

I think I see the jest of what you are saying. By using unique assets, it allows for consistent and non-unique seller ID's; which make it easier to cross reference and verify who the seller is. The asset ID is unique and doesn't matter as there will be a label for the asset that will be non-unique, and anyone selling Bitcoins can ID there asset with any unique ID and label it as Bitcoin, and the label will be what is referenced to ID the asset to buyers.

Yes - am glad that you *get* the point.

Scamming is always going to happen but "helping scammers" by "denying real companies to use their own names" is not what I think Nxt wants to be about (if it has any chance at all to appeal to "legitimate business").

[Emule]

meanwhile price nxt: