NXT :: descendant of Bitcoin - Updated Information

[Eadeqa]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

[Eadeqa]

I asked if I can use asset  exchange to buy a commodity like pot, and someone said no. A bitcoin is a commodity.

By the way, this isn't trustless as I will have to trust bitstamp that they will send me real bitcoin if I buy their asset.

The person who said no is not correct. Anon136, as an example, is planning to use the AE to sell silver bullion.

Exactly. This confusion started when someone said no ( think it was wesleh)

The real discussion was high fees. I  want to sell $5 pot the fees to issue asset should not be $40.

By the way, I don't do drugs -- but lets stick to selling pot as an example

[TwinWinNerD]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

Because it is retarded (sry). If i want to sell pot, i want to know when money comes in and when i have to send out something. Why would i issue tokens so that someone can buy those and then redeem them anytime they want? Also what if i only want to sell a good for a limited time?

A marketplace like bitmit or silkroad makes much more sence...

[Come-from-Beyond]

I think the digital good store could be the place to go. Let's wait how it will 'look' like.

CfB - ETA?

Depends on testing.

[Come-from-Beyond]

I think the digital good store could be the place to go. Let's wait how it will look like.

CfB - ETA?

im confused why its a digital goods store and not just a goods store

Actually it is quite clever, they want to make it that you pay and it immediately releases the digital good to you.

For example someone wants 5 NXT for a picture of beyonce getting fucked from behind.
Then you pay and immediately the network releases this picture to you. (don't know how yet)

it is trustless!

thats super awesome!

so then that means i do in fact want to start my own project. i want to build a bitmit type service on top of the nxt blockchain. would anyone be interested in this? i would probably be willing to pay up to 100,000 nxt to get it done right the way i want it though im not sure if i would need to pay that much. ill have to do some more research. we need a new bitmit and bitmit_2.0 may as well be built onto of a blockchain that way we dont ever have to worry about it going away like the last one.

this could in theory be the nxt killer app to send us to the moon.

It's wrong. Trust to seller is still required.

[Eadeqa]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

Because it is retarded (sry). If i want to sell pot, i want to know when money comes in and when i have to send out something. Why would i issue tokens so that someone can buy those and then redeem them anytime they want? Also what if i only want to sell a good for a limited time?

The buyer buys it and redeems it right away. If the buyer waits for an year, well, he lost his money and the asset is worthless.

We have messaging system. The buyer can send (encrypted) message to the seller and they can arrange am agreement.

[TwinWinNerD]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

Because it is retarded (sry). If i want to sell pot, i want to know when money comes in and when i have to send out something. Why would i issue tokens so that someone can buy those and then redeem them anytime they want? Also what if i only want to sell a good for a limited time?

The buyer buys it and redeems it right away. If the buyer waits for an year, well, he lost his money and the asset is worthless.

We have messaging system. The buyer can send (encrypted) message to the seller and they can arrange am agreement.

What use is the asset exchange in this scenario?? Why not use a marketplace?

[Eadeqa]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

Because it is retarded (sry). If i want to sell pot, i want to know when money comes in and when i have to send out something. Why would i issue tokens so that someone can buy those and then redeem them anytime they want? Also what if i only want to sell a good for a limited time?

The buyer buys it and redeems it right away. If the buyer waits for an year, well, he lost his money and the asset is worthless.

We have messaging system. The buyer can send (encrypted) message to the seller and they can arrange am agreement.

What use is the asset exchange in this scenario?? Why not use a marketplace?

What market place? Silkroad where FBI confiscated all the money? Silkroad 2.0 where they claim someone stole their bitcoins? On asset exchange the seller and buyer are dealing directly with each other, without a third party involvement.  

[TwinWinNerD]

Are you trolling?

You can't buy pot this way because you would buy the right to buy pot... and not pot directly. It is not a shop but an exchange.

Also you only buy an IOU. Like a share is....

Yes you need to trust bitstamp to redeem it, but the exchange of those tokens is trustless

I wasn't trolling Why can't I buy pot by redeeming pot asset-- just like bitcoin would be redeemed by bitstamp?

The seller issues a pot asset. I buy it (with some amount of nxt).  Then I "redeem" it and the sellers mails me the pot (I have to send him my address but that's between me and the seller).

Because it is retarded (sry). If i want to sell pot, i want to know when money comes in and when i have to send out something. Why would i issue tokens so that someone can buy those and then redeem them anytime they want? Also what if i only want to sell a good for a limited time?

The buyer buys it and redeems it right away. If the buyer waits for an year, well, he lost his money and the asset is worthless.

We have messaging system. The buyer can send (encrypted) message to the seller and they can arrange am agreement.

What use is the asset exchange in this scenario?? Why not use a marketplace?

What market place? Silkroad where FBI confiscated all the money? Silkroad 2.0 where they claim someone stole their bitcoins? On asset exchange the seller and buyer are dealing directly with each other, without a third party involvement.  

yes, but why use the asset exchange and not build another service ONTOP of the blockchain like silkroad??

[L5Society]

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.

James, BrooklynBTC, Sebestian, other people, and I have all made very good arguments for why what you wrote above it wrong. You show no sign that you even understand the counter arguments. I understand your argument completely, and it's wrong. In fact, I once agreed with what you are saying before thinking about it. You are repeating yourself.

+1440

Couldn't have worded it better myself. I was going back and catching up on this thread, and I was getting really frustrated seeing Jerical13 repeat the same argument.

Dude, we understand supply and demand. This is so much more complicated than that. Regardless, CIYAM thinks that this discussion is a moot point due to automated transactions.

[Bitventurer]

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

Nice it look like bitcointalk!

EDIT: @wesley, make sure there is two admins, to avoid the case that Nxt have with nxtcrypto at the moment.
[/quote]

hey,how about using the domain nxt.org/forum ?

[instacalm]

hey,how about using the domain nxt.org/forum ?

forum.nxt.org -- would be pretty slick!

[zuqka]

Can someone mind to explain what this is: 1739068987193023818 with: -999'997'009.00

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818

Is it a anomaly?

[Come-from-Beyond]

Can someone mind to explain what this is: 1739068987193023818 with: -999'997'009.00

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818

Is it a anomaly?

How did u find it?

[zuqka]

Can someone mind to explain what this is: 1739068987193023818 with: -999'997'009.00

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818

Is it a anomaly?

How did u find it?

Why does it matter how? Dunno, I found it some other day.... but what the heck is it?

[TwinWinNerD]

Can someone mind to explain what this is: 1739068987193023818 with: -999'997'009.00

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818

Is it a anomaly?

How did u find it?

Why does it matter how? Dunno, I found it some other day....

google nxt genesis block

PS: the secret phrase for that sick account is: "It was a bright cold day in April, and the clocks were striking thirteen."

[Come-from-Beyond]

Why does it matter how?

Ppl keep asking, if we place a description of this account (where they find it) then we'll save some time for all of us.

[Ola]

Heads up marketing team...This is the second time I am repeating this, Just a pointer for a more effective marketing strategy, other than the guerrilla marketing we have been limited to. The other crypto 2.0 platforms are doing it right.

Solution: Create campaigns marketing directly to businesses who will IPO on the nxt blockchain, each of these businesses will then partially serve as autonomous marketing vehicle for the nxt platform

1) counterparty has got it right: They have got 7+ businesses plus Adam b Levine ready to go on their platform

2) watch the video bitshares video..Their main focus is to appeal to businesses http://bitshares.org/

This is why platforms like Apple app store, Amazon and ebay are so successful...The sellers and affiliate marketers on these platform actually work to promote their product listed there, which in in turn brings greater exposure to the platform. I have yet to see any consensus on a similar strategy..So if you are a key decision maker on the NXT marketing committee please think about this post, I should know I studied a bit of marketing in college and made a living working in the field for a while other than just writing code...

Just my 2 nxt..back to work.

[Eadeqa]

Can someone mind to explain what this is: 1739068987193023818 with: -999'997'009.00

http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818

Is it a anomaly?

How did u find it?

Why does it matter how? Dunno, I found it some other day.... but what the heck is it?

I made the same mistake myself. This is the Genesis account, where all NXT come from ;-)

The password for that account is

"It was a bright cold day in April, and the clocks were striking thirteen."

[Come-from-Beyond]

Charts here: http://crypto-prices.com/NXT

I like icon of ur site!