NXT :: descendant of Bitcoin - Updated Information

[jl777]

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?

Yes it is centralized. It is like Google of Facebook inventing an electronic payment system and offer you to use. It has been a year and it gains no traction at all which is pretty bad for a start-up.   But it is not the main reason I am not enthusiastic.

To be honest, after bitcoin there is no excitement in a pure payment system anymore.

In NXT, I see a more exciting future in a decentralized stock market, alias system, a secure message and voting system. These things are innovative. Being a payment system is a nice add-on but it is no longer 2008, you can't just re-invent the wheel and make people excited.      

PLEASE do not spread misinformation, about ripple or anything else.
ripple has some centralized aspects, but if we just use ripple for  trading platform and avoid any XRP trading, it is simply an exchange. Actually a distributed exchange.

I am not saying use ripple for all its features, just for trading the specific NXT/BTC pair. No XRP conversions, you don't have to get tainted with ripple's corporate ooze

James

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[msin]

DGEX is a business and they can charge anything they want.  BUT accepting deposits under the pretense of a 0% withdrawal fee and then changing that to a 1.2% withdrawal fee after the deposits have been received and with no notice is just WRONG.

Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.

[newsilike]

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.

Regardless of its future we can trade NXT/BTC without fees, now. Not the future. Peercovers business model is long term and based on forging fees.

As much as people say they don't like ripple, I see a lot in common between them, but let's not get into some sort of debate over if it has a future or not. Not really the point. ripple is here to stay, so is NXT. Why not utilize ripple for what it is able to do?

James

P.S. I forgot 20XRP is the minimum, you need 30XRP to start trading. I will send 30XRP to anybody that needs it. Just send me back 10NXT or .001 BTC or the 30 XRP when you are setup

But we could just as well buy some XRP for Bitcoin and then spent those on NXT.
How much of the ripples does the company hold?

[jl777]

It is chicken and egg. If we just started trading peercover NXT/BTC on ripple, there will be liquidity. We don't need to worry about any other thing trading on ripple. NXT/BTC is like a colored coin that is just using ripple for exchange.

Because NXT is introducing its own system of colored coins through Distributed Assets Exchange soon, using Ripple to trade NXT hurts value of NXTs they hold. Ripple and NXT are more competitors than Bitcoin and NXT are. So, anyone who wants NXT to succeed should not use Ripple to trade NXT. Are my assumptions wrong? If they are wrong, why?

ripple is to NXT as classical music is to grunge rock
both are music, even though each group will claim the other group is not. It is my assessment that they can both coexist peacefully and advantageously to each other. A symbiosis.

If you ever want to convert NXT to USD, ripple makes it trivially easy. Maybe you don't want to, you don't have to. ripple is oriented toward being the cross currency payment system. NXT as you know is quite a bit more than that. Is there overlap, sure, probably around 5%. Gee, that's about what dgex is charging isn't it. Keep paying dgex usurious fees or trade on ripple without cost.

The only cost is because people are not using peercover's ripple gateway. If we used it, spreads will come down. The high spread is the only cost and that is because people are not using it.

James

[laowai80]

The only cost is because people are not using peercover's ripple gateway. If we used it, spreads will come down. The high spread is the only cost and that is because people are not using it.

James

how does Peercover make a profit if it's all free to trade there?

[marcus03]

Graviton; are you here for the long term or the short term?

If long term, lower your fees now, they are extraordinarily high. Can anyone tell me any other exchange that has fees this high?

Do you believe in Nxt and what it stands for? Then help make it grow and keep your fees below 0.5% (which is still alot). Help attracting new users instead and increase the value of Nxt, which will give you a bigger return than what you're doing now. If you don't, your site will slowly start dying and soon will be forgotten. Unfortunately.

The main and the reserve dgex.com accounts hold 87.684.644 NXT. 1,2% withdrawl of that is 1.052.215 NXT which is about 87 BTC, about 76.438 US$.  Plus the withdrawal fees for the unknown BTC balances....

I think he is there for the short term and cashing out.

Bertolt Brecht said: 'What is the robbing of a bank compared to the founding of a bank?'

[bidji29]

I created a ripple wallet on peercover.
Do we need to create a Ripple wallet on ripple.com too?

My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x on peercover
and raFuoeBgpSFtGKdJA3wBbgFTqG2fzx8bwQ on ripple.com


and how can i deposit some NXT?

[jl777]

I created a ripple wallet on peercover.
Do we need to create a Ripple wallet on ripple.com too?

My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x
and how can i deposit some NXT?

sent you 30XRP
I think you can use a peercover ripple wallet as it is just a ripple wallet that is linked to peercover. If it doesn't work, let me know and I will find out. You can always just make another wallet and send XRP to your new wallet

To deposit NXT go to the simpleGateway URL in my sig. Click on deposit and NXT and follow instructions

James

[bybitcoin]

DGEX is a business and they can charge anything they want.  BUT accepting deposits under the pretense of a 0% withdrawal fee and then changing that to a 1.2% withdrawal fee after the deposits have been received and with no notice is just WRONG.

Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.

I put 48K from our bounty pool for code review, will pay it according to CfB instruction.
PS: we should just ban using dgex, go after better alternatives, that is the only way to correct a business shit hole. Do you know any other exchange that charges 1.4% for btc withdrawal?? Even mtgox doesn't do that. Still that opportunist jumps in to defend?!

[ferment]

Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.

+1 vote for keeping this thread as technical and positive as possible.

Please take drama (dgex, partial source release, cries of unfairness, cries of under appreciation, discussions of ripple, etc, etc) to an appropriate area of http://nextcoin.org.

RickyJames's open letters should stay. Those are entertaining.  

[bahamapascal]

Hey, something strange happened to me today. After I noticed that I seemed to be on a fork (my block did not correspond to the one on the blockexplorer), I copied my blocks.nxt files to a backup location and then deleted them in my client folder. Then I copied a older blockchain in to the folder (from block 29k) but it did not get any new blocks, even after 10 min of waiting and 20+ active peers. I also tried to download from scratch, but no luck, same thing. Just won't download the block chain

Any thoughts what I can do to get the block chain to download?
Thanks!

[bidji29]

I created a ripple wallet on peercover.
Do we need to create a Ripple wallet on ripple.com too?

My address is rErGtTgdEoRba1d6vYF2kCHw3oX6Y9Wt5x
and how can i deposit some NXT?

sent you 30XRP
I think you can use a peercover ripple wallet as it is just a ripple wallet that is linked to peercover. If it doesn't work, let me know and I will find out. You can always just make another wallet and send XRP to your new wallet

To deposit NXT go to the simpleGateway URL in my sig. Click on deposit and NXT and follow instructions

James

When i go to the URL in your sig, i go to https://peercover.com/#/profile

[Come-from-Beyond]

I put 48K from our bounty pool for code review, will pay it according to CfB instruction.

Jean-Luc should instruct, he is the boss.

[msin]

Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.

+1 vote for keeping this thread as technical and positive as possible.

Please take drama (dgex, partial source release, cries of unfairness, cries of under appreciation, discussions of ripple, etc, etc) to an appropriate area of http://nextcoin.org.

RickyJames's open letters should stay. Those are entertaining.  

Haha, yes, RickyJames's can definitely stay!

[utopianfuture]

Agreed, Dgex is dominating the forum right now with a lot of negativity, perhaps we should move this over to the trading forum and focus on the code release.

+1 vote for keeping this thread as technical and positive as possible.

Please take drama (dgex, partial source release, cries of unfairness, cries of under appreciation, discussions of ripple, etc, etc) to an appropriate area of http://nextcoin.org.

RickyJames's open letters should stay. Those are entertaining.  

+2 need to keep this thread contained and informative. Marketing for Ripple gateway should also move to nextcoin or nxtcrypto forum.

[jl777]

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.

Regardless of its future we can trade NXT/BTC without fees, now. Not the future. Peercovers business model is long term and based on forging fees.

As much as people say they don't like ripple, I see a lot in common between them, but let's not get into some sort of debate over if it has a future or not. Not really the point. ripple is here to stay, so is NXT. Why not utilize ripple for what it is able to do?

James

P.S. I forgot 20XRP is the minimum, you need 30XRP to start trading. I will send 30XRP to anybody that needs it. Just send me back 10NXT or .001 BTC or the 30 XRP when you are setup

But we could just as well buy some XRP for Bitcoin and then spent those on NXT.
How much of the ripples does the company hold?

yes you can do that, but it requires more sophistication and complexity. If we stick to just NXT/BTC then no need to worry about XRP rates, etc. Ripple has dozens of independent markets, the company holds about 20% from what I can tell with its "founders". They have also stated that they will give away 55% to the world, which they are actually doing through their WCG giveaway. The rest I imagine they are selling.

I told you there are similarities between ripple and NXT. They are both proof of stake, they both have "founders" that still own a big chunk. They are both still in beta test. Really more like cousins and I think we should work together instead of compete. There are plenty of competitors out there.

Long term ripple offers fiat gateway services to NXT, actually it already does. This is a useful thing to have for NXT'ers

James

[opticalcarrier]

Hey, something strange happened to me today. After I noticed that I seemed to be on a fork (my block did not correspond to the one on the blockexplorer), I copied my blocks.nxt files to a backup location and then deleted them in my client folder. Then I copied a older blockchain in to the folder (from block 29k) but it did not get any new blocks, even after 10 min of waiting and 20+ active peers. I also tried to download from scratch, but no luck, same thing. Just won't download the block chain

Any thoughts what I can do to get the block chain to download?
Thanks!

when this happens I blow away the whole nxt folder and unzip the latest ver and then copy over a blockchain backup annd restart.  sometimes ill reboot.  its the only way to be sure (nuke it from orbit)

[Come-from-Beyond]

Hey, something strange happened to me today. After I noticed that I seemed to be on a fork (my block did not correspond to the one on the blockexplorer), I copied my blocks.nxt files to a backup location and then deleted them in my client folder. Then I copied a older blockchain in to the folder (from block 29k) but it did not get any new blocks, even after 10 min of waiting and 20+ active peers. I also tried to download from scratch, but no luck, same thing. Just won't download the block chain

Any thoughts what I can do to get the block chain to download?
Thanks!

What version? 0.4.8+? Catch blocks from block 0.

[Damelon]

IMO DGEX can ask for all the fees he likes. People can choose not to do business there, and in the end that works out due to market movements.

It's the no prior warning to shutting down the logins AND THEN asking for fees that rubs me the wrong way.
That's like locking a customer in a store and refusing to let him out without payment.
That isn't done, or even legal in any scenario.

I would also advise, in the strongest way possible, to release the people who had stored money without fees during a grace period, and then resume business with fees.

I have no problems with the fees per se. That's DGEX's right as a business. Offering people no choice what to do with the funds they have deposited in good faith is a different matter.
I'm pretty sure it isn't legal.

Edit: taking my further comments to the forum Trade section from here.

[BitAddict]

Dgex that is not right, you can't change fees when you own nearly 90M NxT + X BTC of your customers without giving a timeframe to withdrawal with the old rules.