NXT :: descendant of Bitcoin - Updated Information

[titan20]

I warned about dgex behavior several times in our bounty thread, every time the head guy jumped in to defend their business.
But the funny part is they even didn't try to implement the simplest of improving suggestions which we mentioned there: that
is a secure https connection..?!
What dgex does is very simple, they are making bunch of money out of Nxt, and the only thing they improve is just their profits,
simply because of two reason:
1- Monopoly, not any serious competitions;
2-They are here for a short-term profit.
First was freicon, then nxt... they only need to change the logo each time!

None of this is true, except for the monopoly claim. It's not intentional, we do not limit anybody from opening an exchange. Perhaps worth it to think about the reasons for the nonexistence. Maybe nobody else was ready to carry the risk on inmature network. Yet by enabling trading we have increased NXT value to 100x what it was before DGEX launched.

We have had https for several weeks, just use it.

DGEX is here for long term.

We promised free trading and no NXT cashout fees to encourage NXT adoption for until the end of December.

The main reason for 1.4% NXT withdrawal fee is that we have lost a total of approx. 800 000 NXT during the processing of 11000+ deposits and 7000+ payouts within the month in the unstable NXT network and experimental API, plus our own software in the quick time to market and extremely risky circumstances.

If you think that's too much of a loss, you should have attempted to run the whole show yourself. There ALWAYS are losses in realtime payment processing. They need to be budgeted.

Yet at the same time, we have not complained but have enabled for the community 10000% value increase for their NXT, and through operating nextcoin.org and dgex.com have been a crucial factor in the expansion of NXT adoption.

Now, with the 800 000 NXT deficit, how would you suggest we recover that if not as fees from those who have benefited from us making live trading available in the first place (the customers)? Any suggestions are welcome!

Fees cover the facilities, and they cover the risks. We deal with it, and so should our customers.

Are you saying that the change in the fee structure is temporary? When do you expect to return to the normal fees?

[BitcoinForumator]

Wait until people start connecting the dots when the fog of all this exchange drama clears and come to realize how incremental the NXT Asset Exchange is for crypto!  Solid rocket booster ignition and liftoff!!!   

Unless someone else takes the lead in this area.

[nxtgt]

Wait until people start connecting the dots when the fog of all this exchange drama clears and come to realize how incremental the NXT Asset Exchange is for crypto!  Solid rocket booster ignition and liftoff!!!   

When the fog clears you'll start to see the "Pardon Our Dust" signs.

[jl777]

 Peercover/ripple

NXT, BTC, LTC BUY and SELL: 0.00%

NXT deposits: 0%

BTC deposits: 0%

LTC deposits: 0%

NXT cashouts: 0.0%, automated

BTC cashouts: 0.0%, automated

LTC cashouts: 0.0%, automated

Also, I think aldrin has added more inventory! There is now NXT available for 3 XRP which is around .0001 BTC and about right for what the price should really be. Maybe this whole dgex thing is to make NXT price go down on the day src was released. I think the true market price should be set on ripple

I have had many request for how to trade using peercover/ripple.

1st step is to just create a ripple wallet to get id. Then go to the link in my signature and deposit BTC. I won't be making a market in NXT/LTC today.

As soon as BTC is transferred, you will get BTC in your wallet and you will be able to trade NXT/BTC. I will try to get some competitive offers there within an hour. So, everybody get ripple acct, go to simpleGateway and get your ripple wallet funded with BTC. Oh, you have to create a trust line by going to the ripple wallet's advanced page and clickon "Add trust" and select BTC and put in peercovers address along with the size of your BTC deposit. This allows you to make a deposit of BTC.

If you can post when you get stuck I will help. If you need some XRP to start I will send you some. If you succeed, please post and explain how difficult it wasn't

James

P.S. The whole ripple process is very similar to what people will have to do for colored coins, so might as well get some practice

[jl777]

P.S.Peercover was willing to invest in all the development, NXT leakage, etc. and be in it for the long term forging revenue model. Actions speak louder than words. Support the company that supports the NXT community.

James - what is the minimum XRP that needs to be in the reserve to trade on Peercover? I just opened a wallet and am unfunded atm.

You need 20XRP. Send me your wallet address I will send it to you. You can repay me in NXT in my sig or via ripple send to rfHFcdmZgUKAFVYCaWWfYni6q8H7wLhFXr

For those who don't know in ripple you can send NXT or anything to another person and it will automatically show you a selection of what you have in your wallet that would convert to the desired amount

James

[Fatih87SK]

http://ripplescam.org/

[idev]

http://ripplescam.org/

From the man who created the wonderful https://inputs.io

[GCInc.]

The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.

[jl777]

http://ripplescam.org/

ripple is as much of a scam as NXT is
that is just a term that people who have not spent anytime to study things call anything they don't understand.

Nothing is perfect. Things are what they are. Take from each what it can do well and ignore the rest

James

[bitcool]

Full source code will be released Jan 3rd, 2014.  The fifth anniversary of bitcoin's genesis block.

Unless we're going to get more code in the next few hours, the note on the first page should be edited.

Code? Check!
Source? Check!
Full? Sorry, afraid not. Removed some bits, added some flaws, doesn't work on the live network.

I agree. That is a clear bait and switch.

Then the "Open Source" part becomes forgery,  the title should be changed to Nxt: The Bastard kid of Bitcoin  

[jl777]

Released today? Raise fees? Disappointment and anger..

[nxtgt]

The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.

This is a sunk cost. You should be voicing your concerns about the losses to the developers very loudly, not the customers.

[jl777]

OK, I put up a small amount of NXT/BTC on ripple at .0001

You can make buy and sell offers from the ripple.com wallet. You just need to type in NXT/BTC in the dropdown as it is not in the hardcoded list. Put in peercover's address ra9eZxMbJrUcgV8ui7aPc161FgrqWScQxV for both issuers

Now in a few seconds the orderbook appears and you can place buy and sell orders.

James

P.S. you will need 20XRP to get going. I will send you this, just post your ripple wallet. Once you are setup you can send it back to me, or NXT equivalent, whatever. We just need a more active market to set the real price of NXT.

[Patel]

Dgex is slow as hell to release funds, but they will be fast as hell to take a huge cut.

http://www.nxtchg.com

Dgex alternative

[coolfish]

NXT BUY and SELL: 0.25%

The trade fee is high too.
This is not conducive to the development of NXT

[BitcoinForumator]

I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

[msin]

The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.

I think that you have every right to charge whatever you want.  However, you shouldn't justify temporary price increases as a way to cover operating losses.  You should always keep the fees consistent or people won't trust your exchange.  Regardless, another exchange will become the leader at your current fee structure.

[utopianfuture]

I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

Agree. I see no future in Ripple. The same old thing.

[nxtgt]

There's no liquidity on peercover for XRP/BTC either. Looks like if you have anything in NXT right now it's a sitting duck for the time being.

[laowai80]

I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

Agree. I see no future in Ripple. The same old thing.

Why? Is this because it is centralized or something else?