NXT :: descendant of Bitcoin - Updated Information

[landomata]

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.

other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

BTC can be interfaced on protocol level, noone will be able to run with bitcoins.

pls elaborate further

[davethetrousers]

I think this is some sort of spasm of the server/client interface. Directly after that, the web client shows 0 for everything. Some moments later, it has recovered.

Code:

2013-12-26 16:49:45.050:WARN:oejs.ServletHandler:qtp1916388806-94: /nxt
java.lang.IllegalStateException: WRITER
	...

[jl777]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

[utopianfuture]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them.  

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.    

[utopianfuture]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

Here is what I am proposing

We will need a protocol that any company has to follow to make an IPO on Nxt network and listed as an asset in the asset exchange.
The minimum you will have to do is:

1. state why your company has value; your company mode of operation; total shares you re going to issue
2. your responsibility to the company and the share you are going to issue.
3. basically, it is your responsibility to persuade Nxt holder to trust you and your company

This will be included in the social contract on your IPO open for the public in a secure forum.

There is a fee for IPO and asset listing. I think it is 1000 Nxt. So if you can't persuade people to buy your share, you will lose that 1000 Nxt. If you finish your IPO successfully, your share will be listed in the asset exchange. Form that point on, the price discovery process will determine the true-worth of your company/ idea.  Of course if you run away with your money, your share will hit zero and being delisted.

That is skeleton of how I think the asset exchange will work.

I can develop it fully upon community request.

[ZeroTheGreat]

This similar to merge-mining. Someone can charge extra fees for transactions in parallel chains (dedicated to file storage for example).

Quite intresting.

[landomata]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

[utopianfuture]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

You can prepare your gateway for an IPO in Nxt asset exchange.

[Come-from-Beyond]

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.

other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

BTC can be interfaced on protocol level, noone will be able to run with bitcoins.

pls elaborate further

I read somewhere that it's possible to create a Bitcoin private key in such a way that noone knows complete key. U have to get majority of signatures to make a Bitcoin transaction. These signatures could be based on private keys of BTC2NXT asset shareholders. Just an idea...

[gbeirn]

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

Why did noone implement this on Bitcoin platform yet? 5 years have passed.

Because no one cares about bitcoin except to make money. It is a runaway greed train that started with good intentions but has swayed from them, in my opinion.

[landomata]

This similar to merge-mining. Someone can charge extra fees for transactions in parallel chains (dedicated to file storage for example).

Quite intresting.

you can issue a file storing company IPO on Nxt asset exhange....generate fees per transaction and pay out dividends....like a regular company


this is crazy!

[ZeroTheGreat]

CoinMarketCap should incorporate market depth into its equation, and not simply use no. of coins * curr. price.

So try to contact its owner and give him/her some pretty code. Pointless, if u just whining.

But I can stongly agree on that fact: CoinMarketCap — not too depth analysis of cryptomarket. Only biggest trends of prices basicly.

[utopianfuture]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

[jl777]

I am not surehow profitable we will be when we are not charging any fees and also competing with peer to peer xchange

I think it makes more sense using bounty model

Of course if nobody sees a need for better trading then we will find out if offered bounty is very small

Significant nxt was used for a 3 minute video, i would hope people will feel that having a distributed xchange is worth more?
I am also in close contact with ripple labs and getting this project crowd funded and running on top of ripple will be very good pr for their vc backed pr machine. You have to admit they have good pr, they have ios wallet using qr code

[gbeirn]

To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

[MyZhre]

Hi all, I'd like share a little script that solve the unexpected quit problem:

#!/bin/sh
while true
do
        pidof java
        if [ $? -gt 0 ]; then
                echo "Restart process " >> /tmp/nxt_restart.log
                java  -Xms700m -Xmx900m -jar start.jar
        else
                sleep 5
        fi
done

you may need adjust the mem parameter accordingly

[landomata]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

It will be automatic....no need for individuals...its needs to be decentralized.....the company is publicly owned.....the person who codes this 1st get to make a cut during IPO....a reward for their hard work.

[rickyjames]

Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

[utopianfuture]

I am not surehow profitable we will be when we are not charging any fees and also competing with peer to peer xchange

I think it makes more sense using bounty model

Of course if nobody sees a need for better trading then we will find out if offered bounty is very small

Significant nxt was used for a 3 minute video, i would hope people will feel that having a distributed xchange is worth more?
I am also in close contact with ripple labs and getting this project crowd funded and running on top of ripple will be very good pr for their vc backed pr machine. You have to admit they have good pr, they have ios wallet using qr code

You could make 1000 shares out of company. And selling 200 of it at 2nxt/ per share. It would be a hot cake even if you have no profit and very litter of revenue.
When your company share traded in the asset exchange, you will have a real life indicators of how people think of your company. When it turns out profitable 6 months later on, 1 share could go to 1000 NXt then you can sell another part of your ownership.

It would be pretty much like an IPO in real life.

But you have to persuade the community that you are serious in your first social contract.

I believe several first companies in Nxt asset markets will have their share skyroket to the moon.

[Come-from-Beyond]

This similar to merge-mining. Someone can charge extra fees for transactions in parallel chains (dedicated to file storage for example).

Quite intresting.

you can issue a file storing company IPO on Nxt asset exhange....generate fees per transaction and pay out dividends....like a regular company


this is crazy!

Aye, the only one sets limits - our imagination.