NXT :: descendant of Bitcoin - Updated Information

[farl4web]

Twitter kind of had the same problem with usernames, and everything is fine.Even some big companies had to add a number or letter to their brand name,because it was already taken, or buy it for not a lot of money,as it isnt such a big problem.Then the name that appears on your profile can be repeated,and people is used to going to the official website or googling to verify which account is the official one of who they want to follow. They follow it,and never see fake ones again.

This is a use case that basically clinches it for me.
Thanks for being a beacon of common sense.

+1

[Jerical13]

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.

If they are forced to use only NXT for their trades then the demand will generate a higher price for NXT. That is how the math works. Do you expect that their will such a tidal wave of business inflow that the price of NXT will not be able to keep up? I think that would be when it would actually go to the moon.

And if someone wants to trade in Euros he already has the option to do so. I don't think you acknowledge the fact that this is the case. By allowing these kinds of trades, it would subordinate the NXT currency and result in it being less dependable, and in people holding less confidence in it as anything other than a fee coin. If someone wanted to fork NXT and eliminate or greatly reduce these fees, we would still be the kings of an abandoned currency. I think the point should be to make the NXT platform a desirable platform to use, and people will use it. By undercutting the base currency for this platform, do you think that this would strengthen the platform as a whole? Do you think that the fact that Bitcoin has the same advantage as being the base currency for essentially every other crypto currency has no effect on it's strength as a currency? If people could buy any crypto they wanted with fiat, do you think Bitcoin would have the same worth that it does? Is the idea of cryptos, in general, to get away from centralized fiat currencies or to provide a platform to encourage their trade?

By forcing the trade of NXT, initially it may result in fewer transactions, but as the value of the NXT currency became higher, more dependable and established its self as the base for a broad economy, confidence in its sustainable worth would go up. This would help to strengthen the NXT platform over time.

In the short term it may generate more usage of the network to allow external currencies this type of leverage, but in the long term I think it would stunt the growth of NXT or any other platform that allowed these types of trades.

IMO

[Damelon]

ANNOUNCEMENT

The new Nxt forum can be found here, people: http://107.170.117.237/index.php

Just so you don't miss it!

[Anon136]

ANNOUNCEMENT

The new Nxt forum can be found here, people: http://107.170.117.237/index.php

Just so you don't miss it!

what happened to the old one?

[Damelon]

ANNOUNCEMENT

The new Nxt forum can be found here, people: http://107.170.117.237/index.php

Just so you don't miss it!

what happened to the old one?

nxtcrypto lost it's admin.
Wesley set this one up to have a SMF forum where we all can post and leave this crawling thread behind.

Edit: have a look. It'll feel familiar and will make discussions much more organised and easy

[bombur55]

12363381624583325837

Sent you 10K.

Awesome! Anyone WTB some fine whisky?
I have a probably stupid question. What if I want to sell a single item, e.g. some used stuff, like a marketplace. Or even better what about an auction ebay style. Sorry if this was already discussed sometime. I am kinda new to the asset exchange and everything.

[farl4web]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly? 

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

[Sebastien256]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly? 

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

I fear that whatever forum will be up, there will always people that are not happy. nextcoin is run by a business on the top level (dgex), while nxtcrypto have no admin. So make your idea based on this.

[Damelon]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly?  

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

Nxtcrypto is practically defunct because there is no admin, so we can't change it anymore. opticalcarrier is managing as well as he can over there.
nextcoin has a good community, I agree. There is no reason why it should not be there

This forum will, in time be the new nxtcrypto. opticalcarrier will point it at the same subdomain.
Of course, people will first need time to migrate.

It's not meant to replace nextcoin.org, it's meant as a place to replace this thread and make discussion easier.

It would be nice to have a forum where the *whole* community can come together.

Edit: the forum will also have multiple admins, so there is inbuilt redundancy!

[Jerical13]

Let's leave it as is to keep entry barrier high enough. To limit number of scam attempts.

Agreed - to incorporate in most countries is nowhere near as cheap as 1000 NXT.

Yes, but you only have to pay to incorporate one time. This 1000 NXT fee would be charged for every asset. Maybe Alias registration fees should be higher. Alias registration is more in line with incorporation.

[CIYAM]

Yes, but you only have to pay to incorporate one time. This 1000 NXT fee would be charged for every asset. Maybe Alias registration fees should be higher. Alias registration is more in line with incorporation.

This makes no sense - each Asset *is* a new listing so it is nothing to do with "one time".

[Damelon]

I fear that whatever forum will be up, there will always people that are not happy. nextcoin is run by a business on the top level (dgex), while nxtcrypto have no admin. So make your idea based on this.

True. This forum is not aimed to be the *only* forum, but a way to solve the problem of 1) having important discussions being buried in this mega-thread and 2) to have a place where hopefully everyone can come together and talk.

There is no need to leave nextcoin.org or any other place people enjoy and it is not meant as such.

[Jerical13]

since we are doing non-unique names we may as well lower the price of issuing an asset down to the same price as any other transaction. (0.1nxt as it stand now i think right)

can anyone think of a good reason not to?

Let's leave it as is to keep entry barrier high enough. To limit number of scam attempts.

I really strongly think this is not right.

People are going to have to do research anyway before they buy and once they do it will be totally obvious which one is the legit one, it will be the one that they already own some of. alternatively inorder for them to feel safe buying with out doing research the asset will have to be well established. In this scenario the barrier to entry cost would actually be relatively insignificant compared to the costs associated with artificially generating that credibility through having huge amounts of fees payed to miners through the buying and selling of your asset.

im really quite certain that, considering the recent change to the conditions, the benefits gained from having a vibrant ecosystem of tokens would outweigh the cost of potential scammers, especially since people will need to take basic precautions against scammers anyway no matter what the issue fee.

What's the benefit of allowing people to issue assets for pennies? Nothing I can think of, except allowing more and more junk assets that are not backed by anything and are only meant to confuse / scam users.

It would allow for the sale of less expensive assets without creating initial overhead.

[CIYAM]

BTW - https://bitcointalk.org/index.php?topic=397183.msg5842463#msg5842463

and congrats to Evil-Knievel.

[igmaca]

some interesting thoughts

"Communication can take place between two people when each of them has expanded their reality to include the other person’s reality without conflict”
      - Stewart Emery

[CIYAM]

So now that the "fatal flaw" has been discovered I think it is time that we realised that we really need to "pull together" or risk losing to a "clone".

[chanc3r]

since we are doing non-unique names we may as well lower the price of issuing an asset down to the same price as any other transaction. (0.1nxt as it stand now i think right)

can anyone think of a good reason not to?

Let's leave it as is to keep entry barrier high enough. To limit number of scam attempts.

Good idea, especially at start.

Yes someone will DDOS the AE by creating loads of assets... we should not make the price too low.

[Anon136]

since we are doing non-unique names we may as well lower the price of issuing an asset down to the same price as any other transaction. (0.1nxt as it stand now i think right)

can anyone think of a good reason not to?

Let's leave it as is to keep entry barrier high enough. To limit number of scam attempts.

I really strongly think this is not right.

People are going to have to do research anyway before they buy and once they do it will be totally obvious which one is the legit one, it will be the one that they already own some of. alternatively inorder for them to feel safe buying with out doing research the asset will have to be well established. In this scenario the barrier to entry cost would actually be relatively insignificant compared to the costs associated with artificially generating that credibility through having huge amounts of fees payed to miners through the buying and selling of your asset.

im really quite certain that, considering the recent change to the conditions, the benefits gained from having a vibrant ecosystem of tokens would outweigh the cost of potential scammers, especially since people will need to take basic precautions against scammers anyway no matter what the issue fee.

What's the benefit of allowing people to issue assets for pennies? Nothing I can think of, except allowing more and more junk assets that are not backed by anything and are only meant to confuse / scam users.

advantage is that we will not be excluding people who have useful things to contribute to society but relatively little in the way of assets.

you have the disadvantage right. though it still wouldn't be practical to try to trick people into thinking that they are buying something other than what they think they are buying it would make it easier for people to make fraudulent but unique new schemes with their own unique identities.

the poor should not be the whipping boy for scammers and the fools who fall victim to them. caveat emptor.

[Jerical13]

I really strongly think this is not right.

People are going to have to do research anyway before they buy and once they do it will be totally obvious which one is the legit one, it will be the one that they already own some of. alternatively inorder for them to feel safe buying with out doing research the asset will have to be well established. In this scenario the barrier to entry cost would actually be relatively insignificant compared to the costs associated with artificially generating that credibility through having huge amounts of fees payed to miners through the buying and selling of your asset.

im really quite certain that, considering the recent change to the conditions, the benefits gained from having a vibrant ecosystem of tokens would outweigh the cost of potential scammers, especially since people will need to take basic precautions against scammers anyway no matter what the issue fee.

This makes sense. Let's think how we'll come to a consensus.

think of the poor little girl who wants to incorporate her lemonade stand. she literally has 1 dollar worth of assets. or the poor african who wants to buy a shovel and doesn't even have enough to do that. sure if the advantages are great enough than im willing to say screw um. but it just isnt anymore, the advantages are VERY minor at this point.

Doesn't make sense to me. Incorporate a lemon stand? Lol. OK the second idea is better, but for buying a shovel you don't need to issue an asset.. what would the return on investment be of that?.. I guess someone could create a Nxt microloan service instead.

why on earth shouldn't a little girl be able to incorporate a lemonade stand for all of the exact same reasons that incorporating anything else benefits everyone else? maybe she has entrepreneurial aspirations and ideas but no assets. maybe she has the assets and the idea but wishes to defer to the wisdom of the market to determine whether its a good idea or not.

Right on Anon. Who should be able to tell who what an "asset" is? Do Bankers and Wall Street types hold all the "assets"?

Webster's Dictionary-: Asset- (a) valuable thing which belongs to you. (b)anything owned which can be sold to pay debt.

[BitcoinForumator]

http://themisescircle.org/blog/2014/03/14/the-coming-demise-of-the-altcoins/