NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

daily report about aliases (give up thread):

its been the fourth consecutive day i have been trying to register some aliases that are not registered (and will not be if the system persists in randomness).

what happens is that i send 50 words to say with 1440 (as advised by CfB) deadline and 1 nxt for example.

a day later some 20% of them are registered and the rest are free.

this is completely random and sad. before implementing kick-ass features like assets and whatever make sure this wonderful coin is not ridiculed by such bugs.

Switch logging on and send me the log after u complete sending AS transactions.

[1715168319]

1715168319

[Come-from-Beyond]

Hey... just to be clear... there is no way to send NXT from the cmd window if the browser is closed, right?

Right.

[landomata]

CfB,

I suggest that we encapsulate each new NXT feature that generates its own transaction fees into a NXTcompany. I am assuming we can accurately track each NXTcompany's transaction fees and that is the equivalent of the traditional revenue statement. A NXTcompany will usually have no, or minimal costs, at least I think that is the case as once the software is developed, we might need a few custom servers, but mostly just manpower to nurture each NXTcompany. The profit calculation will simply be the difference between total transaction fees minus whatever costs, if any. If any additional costs are needed, it could be funded from sales of IPO shares, individual contributions, etc.

Dear James,

I feel our thinking is going in the right direction....I had propose a few days back that we create a Decentralized autonomous corporation called (NXT/BTC Gateway) which will collect a fix transaction fee when ever anyone deposit or withdraws Nxt or BTC from the NXT Asset Exchange.


Nxt/BTC Gateway would issue shares thru IPO on the Nxt Asset Exchange....on the last day of each month the fees collected would be divided up and distributed based on each account share holding.  -- MONTHLY DIVIDENTS


The shares of NXT/BTC Gateway will also be TRADED on the Nxt Asset exchange....so its will depend on supply and demand -- Basic Stock Trading


The NXT/BTC Gateway cannot fail because it is a gateway into the NXT asset Exchange....noone can trade on the NXT Asset Exchange using NXT or BTC without going thru the BTC/NXT Gateway.


THIS WOULD BE A WORLD FIRST.....TOTALLY AUTONOMOUS CORPORATION....I THINK THIS IS DOABLE.

THE NXT ASSET EXCHANGE IS READY (ITS DONE)....so we can try this IMMEDIATELY!

[farl4web]

then maybe you'd want to listen to their concerns.

And do exctaly what in decentalized system? U're concerned so stay sway. It's very important in investor's career to fully understand what's going on and predict future.

For a currency to succeed, it needs to be used and accepted by lots and lots and lots of people. If you own NxT, it's in your best interest to listen to potential investors' concerns. Your mentality "If you don't like this, then stay away" is not gonna fly in the long run if you want this currency to succeed.

Very good point!

[pinarello]

Today CoinArea.net received a big update.

Frontpage Changes:
· Small visual improvements
· Newest NXT client (0.4.7e)
· New beginner video "How to get started?"
· New Advertisement Section (Write us an email with your price!)
· Updated the Get started guideline with new Wikipedia Links
· Added the following new links:
  - Reddit /r/nextcoin
  - NXT Coin Flip
  - Automatic NXT Faucet
  - NXT Node List Generator
  - NextCoin.org Links (News & Alerts, Instructions & Help, Giveaways, Short/Long Term Priorities)
  - peercover.com

Other Changes:
· New news section with the latest news around CoinArea.net and NXT. (Blogsystem is still under development through!)
· A few improvements to the toplist, which will come in the near future. You will get some new information about it soon!

(The faucet is dry! Go over to the nxtra faucet! )

I will soon drop the faucet if there are no huge donations. Then it will become a pure link list site with a casino later.

links to video tutorials are broken, here is one for all tutorial videos

https://www.youtube.com/my_videos?o=U

Pin

Please send the correct link.

http://www.youtube.com/watch?v=eF0XspFMq_4 broken ----->new: https://www.youtube.com/watch?v=ps9QkRzVOic
http://www.youtube.com/watch?v=E8oEgQ4XVP0 broken------>new: https://www.youtube.com/watch?v=-jThcSVOZms
http://www.youtube.com/watch?v=VEJ7uJHDBLM broken------> no new
how to sent NXT: ------>https://www.youtube.com/watch?v=IZfpcqPpYVk
http://www.youtube.com/watch?v=sKurWBwXc-g broken-----> new: https://www.youtube.com/watch?v=AejxmzrZYnQ

all in one video tutorial channel youtube: https://www.youtube.com/my_videos?o=U


Pin

[brooklynbtc]

looks like were stuck going on 8 minutes..

27821      15362659172498110070      12/29/2013 1:40:45 PM   
0      0 + 0      0 B   
1      16127869774401288920      159 %

[Come-from-Beyond]

looks like were stuck going on 8 minutes..

27821      15362659172498110070      12/29/2013 1:40:45 PM   
0      0 + 0      0 B   
1      16127869774401288920      159 %

High difficulty.

[farl4web]

utopianfuture,

Why is defending marketing attacks against NXT lower in priority? What is more important that the public's perception of NXT? Perception is reality, especially in crypto

If people's first impression is what yuri's of the world spread, that would severely lighten the load on the NXT servers. There are over one hundred altcoins plus bitcoin itself and presumably other challenges ahead for NXT. We cannot stay 100% tech oriented and just count on the public to accept NXT.

Distributed servers, distributed development all very good. However, distributed marketing is essentially no marketing. Is that what the NXT community wants? If so, let's just take down all the wikis, videos, etc. Just publish the source code and be done with the public.

Do we want NXT to grow to what it is capable of? If so, we MUST defend ourselves and establish the market position NXT deserves. NXT is up and running, NXT has an active user base. NXT has an active trading volume. NXT has the second generation features that no other coin currently has. I estimate at most a three month window of opportunity for NXT to capture the slot of being the next bitcoin.

Of course we need servers, but we also need good concentrated laser beam marketing.

James

You nailed it!

[jl777]

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

[brooklynbtc]

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

Hey James,

 I'm missing the leap of understanding on getting this set up "within" nxt.. I mean dgex is already an exchange

[mr_random]

Do we have a list of all the developers working on NXT. From what I can gather we have:

Developers

- BCNext
- Come-From-Beyond
- Nexern? (This is from memory correct me if I am wrong)
- Jean Luc

1. Is this list complete?
2. Are all these individuals anonymous or do we have a public figurehead here? Someone like Gavin for Bitcoin rather than BCNext acting as Satoshi.
3. What is the development timeline? - My understanding is parts of the source code will be open sourced on January 3rd. What features will be complete and when? I know when is difficult in software development

The more developers we have working on this, the better it looks (and is) for NXT!

And the development timeline is also important in my opinion to inspire confidence that we are working to a schedule and have a plan. It will also make the features seem more real. When alias suddenly appeared it generated a lot of buzz for NXT.

Three things are important I feel:

- Development/features
- Marketing! Spreading the word in related forum topics, reddit, blog posts, getting on sites like coindesk etc
- Services

Those are my thoughts for the day  

[notsoshifty]

Hey... just to be clear... there is no way to send NXT from the cmd window if the browser is closed, right?

Right.

Ok, thnx CfB... I will go edit all the posts with my earlier concerns, so that people know they can do it this way too.

Perhaps I misunderstood. But this seems to be a way to send NXT from the cmd window with the browser closed:

curl -vk "https://localhost:7875/nxt?requestType=sendMoney&secretPhrase=MySuperSecretKey&amount=1000&fee=1&deadline=30&recipient=11111125831111116332"

[farl4web]

OK... so one has chosen a super secure passphrase... you know one of those that will take a billion gazillion trillion years of non-stop brute force to crack...  

Considering that he/she needs to have his/her wallet unlocked to forge and at the same time that wallet needs to have a decent amount of NXT in order to have a chance generating a block...

Shouldn't the client ask for the passphrase AGAIN when trying to send NXT?

How far can a super secure passphrase take you if all a hacker needs is to remotely access your computer and hope you are forging?

There need to be more security, you're right!

[salsacz]

Do we have a list of all the developers working on NXT. From what I can gather we have:

Developers

- BCNext
- Come-From-Beyond
- Nexern? (This is from memory correct me if I am wrong)
- Jean Luc

1. Is this list complete?
2. Are all these individuals anonymous or do we have a public figurehead here? Someone like Gavin for Bitcoin rather than BCNext acting as Satoshi.
3. What is the development timeline? - My understanding is parts of the source code will be open sourced on January 3rd. What features will be complete and when? I know when is difficult in software development

The more developers we have working on this, the better it looks (and is) for NXT!

And the development timeline is also important in my opinion to inspire confidence that we are working to a schedule and have a plan. It will also make the features seem more real. When alias suddenly appeared it generated a lot of buzz for NXT.

Three things are important I feel:

- Development/features
- Marketing! Spreading the word in related forum topics, reddit, blog posts, getting on sites like coindesk etc
- Services

Those are my thoughts for the day  

I am trying to collect Nxteam here:
https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E&usp=drive_web#gid=6

But
- BCNext
- Come-From-Beyond
- Jean Luc
belong to the paid Core, while othes are only activists

[landomata]

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

It may not be a monopoly in the world but it will be the ONLY Gateway for BTC/NXT on the Asset Exchange....you will need some form of Gateway to deposit/withdraw either NXT or BTC for example from Nxt Asset Exchange ....JUST AS IN DGEX HOMEPAGE....we deposit/withdraw/Trade and pay a fee in the process like any normal exchange.

Its basically GDEX automated and linked to the Nxt Asset Exchange....who cares if there are other competitors....other competitors are not gonna pay out monthly dividents to share holders.....other competitors are not gonna have their shares traded in the NXT Asset exchange ....I repeat the NXT ASSET EXCHANGE IS READY!


I am not a dev...so I can;t code this but I don;t think it would be difficult....I would surely invest in this....and also trade the shares and many would cuz they can profit from price movements.


IT WOULD ALSO BE INNOVATIVE and could act as a template for other decentralized autonomous corporation....and the main exchange to list would be the NXT ASSET EXCHANGE....cuz it has a liquid and developed marketplace....if NXT doesn;t do this somebody else will.

 

[jl777]

brooklynbtc,

I am not 100% sure about this as I am making some inferences and deductions to arrive at the following:

NXT will implement colored coins. From whatI have seen of the protocol, it is totally flexible and allows anybody to issue anything.

You could issue a colored coin and make each one worth a rolls royce. I think it is one NXT per colored coin, but maybe there is a non-1:1 mapping possible.

Anyway, since each of these are worth a rolls royce, at some point somebody can come to you and say, I want to redeem my rolls royce. Here is the coin, where is my car. At this point, you either hand him the keys to the rolls royce or default. Therein lies the problem. Unless you have credibility as to access to fancy cars, your issuing rolls royce coins will probably not find a big market. Even if you did, people will still be a bit skeptical.

The only thing at stake for an issuer of a colored coin is their reputation. This could be something super valuable, or it could be very low value. So, it is caveat emptor free market. Ripple gateways struggle for a long time before people start trusting them enough to use them.

This is why I believe working with ripple makes a lot of sense as the gateways to USD, BTC, CNY are well established. What that means is that converting NXT into and out of those currencies is already implemented just by using a ripple NXT gateway.

James

P.S. Over time, trusted issuers will emerge within NXT and it is also possible ripple gateways will open up their NXT counterparts.

[utopianfuture]

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

It may not be a monopoly in the world but it will be the ONLY Gateway for BTC/NXT on the Asset Exchange....you will need some form of Gateway to deposit/withdraw either NXT or BTC for example from Nxt Asset Exchange ....JUST AS IN DGEX HOMEPAGE....we deposit/withdraw/Trade and pay a fee in the process like any normal exchange.

Its basically GDEX automated and linked to the Nxt Asset Exchange....who cares if there are other competitors....other competitors are not gonna pay out monthly dividents to share holders.....other competitors are not gonna have their shares traded in the NXT Asset exchange ....I repeat the NXT ASSET EXCHANGE IS READY!


I am not a dev...so I can;t code this but I don;t think it would be difficult....I would surely invest in this....and also trade the shares and many would cuz they can profit from price movements.


IT WOULD ALSO BE INNOVATIVE and could act as a template for other decentralized autonomous corporation....and the main exchange to list would be the NXT ASSET EXCHANGE....cuz it has a liquid and developed marketplace....if NXT doesn;t do this somebody else will.

 

You need to understand that NXT network does not know BTC address. They belong to two completely separate blockchains. There is no way you can send or receive real BTC within NXT. Please wait for documentation on the asset exchange operation.

[smartwart]

What do you guys think of this?

http://nxtra.org/nodes/

I noticed everyone seems to copy the same "easyCopyString" for the list of server nodes (wellKnownPeers) in web.xml - however, wouldn't it be better if that list of server nodes was different for everyone?

That's what my tool does, it gives back a random sampling of the well known server nodes. That way there'll be no overloading and everything will be less centralized. Now of course, I'd like to know CFB's opinion on this (and anyone else's).

GREAT !!!

[landomata]

I AM JUST PROPOSING WE AUTOMATE DGEX AND SET IT AS THE FIRST AUTONOMOUS CORPORATION TRADED ON THE NXT ASSET EXCHANGE.


PEOPLE JUST WANT A SAFE PLACE TO DEPOSIT/TRADE/WITHDRAW....A SAFE GATEWAY FOR NXT.


I REPEAT WE AUTOMATE DGEX AND ISSUE SHARES ON NXT ASSET EXCHANGE.


SIMPLE...EASY...

[mr_random]

I AM JUST PROPOSING WE AUTOMATE DGEX AND SET IT AS THE FIRST AUTONOMOUS CORPORATION TRADED ON THE NXT ASSET EXCHANGE.


PEOPLE JUST WANT A SAFE PLACE TO DEPOSIT/TRADE/WITHDRAW....A SAFE GATEWAY FOR NXT.


I REPEAT WE AUTOMATE DGEX AND ISSUE SHARES ON NXT ASSET EXCHANGE.


SIMPLE...EASY...

What do you mean by automate dgex?