NXT :: descendant of Bitcoin - Updated Information

[dzarmush]

Why it's so important to decide and to it right now what to do with that 10M. Everything goes just fine! Let's just go with the flow.

Does anybody have a great idea? Let's vote if it should be done and then vote how much we should spend on it. What can be easier?

Somebody suggested to make a photoshoot with girls to advertise Nxt. Let's do it. Share ideas of the photoshoot, draw sketches etc. Then vote for the best idea and size of a bounty. And so on with the rest of unclaimed money.

I have something similar in mind. It is like a concept of "open bounty". Anyone can step up and present his/ her idea, propose a bounty and let the community decides. So we continue the tradition of asking for bounties in a decentralized fashion as we have been already doing in nextcoin and nxtcrypto forums so far. But now funding would be a bit easier to come by since we have common pool in addition to private donors's fund.

This will work easier when we have the voting system in place. A person presents his/ her idea, propose a bounty and action plan, and set up a vote. Community can ask questions in the meantime and when the voting is over, the project will be funded if the vote passes the majority. A democratic and decentralized method of funding projects.

We can even implement this type of "open bounty" even when the voting system is not yet in place. In fact, we actually did it one time already with the case of Maco's android app as the overwhelming majority refused to fund his 500K NXT request for his app. So we actually had a precedent in place already. Let's continue the funding process in this type of decentralized fashion instead of giving one person/ or group the authority of giving out the funds.

No matter how much we obsess about the 10M, the distribution and implementation is happening, it's BCNext to do with as he pleases.  We need to start focusing on a voting mechanism so we can decide what to actually do with the 10Mil.

Why we need voting mechanism to decide? What's wrong with the forum polls? Also decide what? Nobody has any suggestion how we should spend 10M. Why would you want the voting mechanism if there is nothing to vote for?

[dzarmush]

I don't see what the rush is to distribute the 10 million Nxt, is there a specific reason? In addition, if the individuals are trusted, why would the code need to be changed just to accommodate them? This just doesn't make sense, perhaps I am misunderstanding?

We need features, and to make features we need developers, this is where the Nxt or Nxt>BTC should be spent (or atleast 80% of it). All the hoopla regarding Nxt has died down now and I believe we have reached critical mass in the Bitocointalk community as shown be the diminishing accounts being created everyday. Everyone that is here now and participating is obviously committed, so I can say for sure we have a strong community of Nxt'ers.

The next milestone will be general public adoption, at least the general crypto community and for that we need a rock solid client that hopefully supports forging and a reliable network. In my opinion, being second generation, we need to get to the point where this can be run securely on a mobile phone (transaction and forging) - to me - that is second generation, but that can come down the road as we have plenty to work on regarding the core of Nxt.

All this talk about marketing is great, I work in that space, however, it is not needed at this time and perhaps never will be. All energy and funds (if needed) need to go to development, at least in the next couple of weeks.

I vote that the majority of funds either be dedicated to development or destroyed.

The same again. What do you mean by "dedicated to development"? Do you have something in mind? Then share with the community and suggest a bounty and the community will vote for it.

Also what's the use of destroing the coins? That's fucking crazy. Even two payments of 5M to Cryptsy and BTC-E owners for adding Nxt to their exchanges will be way better then destroying them.

But I do agree with the first part. Changing the code just for that reason is maddnes. Don't developers have something more important to do? Why the hell we need this commity at all? Let the coins stay were they are now and focus on ideas for development and promotion.

[salsacz]

Now when I have all information, writing the Nxtmyths is really fast

Nxt Myths 2: The unfair distribution of Nxt
by: Salsacz

and it is 6:30 AM, so I go to sleep now

[dzarmush]

Now when I have all information, writing the Nxtmyths is really fast

Nxt Myths 2: The very fair distribution of Nxt
by: Salsacz

and it is 6:30 AM, so I go to sleep now

"Nxt Myths 2: The very fair distribution of Nxt" sounds like the very fair distribution is myth )

[msin]

I don't see what the rush is to distribute the 10 million Nxt, is there a specific reason? In addition, if the individuals are trusted, why would the code need to be changed just to accommodate them? This just doesn't make sense, perhaps I am misunderstanding?

We need features, and to make features we need developers, this is where the Nxt or Nxt>BTC should be spent (or atleast 80% of it). All the hoopla regarding Nxt has died down now and I believe we have reached critical mass in the Bitocointalk community as shown be the diminishing accounts being created everyday. Everyone that is here now and participating is obviously committed, so I can say for sure we have a strong community of Nxt'ers.

The next milestone will be general public adoption, at least the general crypto community and for that we need a rock solid client that hopefully supports forging and a reliable network. In my opinion, being second generation, we need to get to the point where this can be run securely on a mobile phone (transaction and forging) - to me - that is second generation, but that can come down the road as we have plenty to work on regarding the core of Nxt.

All this talk about marketing is great, I work in that space, however, it is not needed at this time and perhaps never will be. All energy and funds (if needed) need to go to development, at least in the next couple of weeks.

I vote that the majority of funds either be dedicated to development or destroyed.

The same again. What do you mean by "dedicated to development"? Do you have something in mind? Then share with the community and suggest a bounty and the community will vote for it.

Also what's the use of destroing the coins? That's fucking crazy. Even two payments of 5M to Cryptsy and BTC-E owners will be way better then destroying them.

But I do agree with the first part. Changing the code just for that reason is maddnes. Don't developers have something more important to do? Why the hell we need this commity at all? Let the coins stay were they are now and focus on ideas for development and promotion.

I can almost guarantee that the account locks is a new feature.  He wouldn't change the code for bounty Nxt distribution.  Anyway, I'm grateful he is providing 10M, he doesn't have to do that, and we can get on with out it if needed.

[dzarmush]

I don't see what the rush is to distribute the 10 million Nxt, is there a specific reason? In addition, if the individuals are trusted, why would the code need to be changed just to accommodate them? This just doesn't make sense, perhaps I am misunderstanding?

We need features, and to make features we need developers, this is where the Nxt or Nxt>BTC should be spent (or atleast 80% of it). All the hoopla regarding Nxt has died down now and I believe we have reached critical mass in the Bitocointalk community as shown be the diminishing accounts being created everyday. Everyone that is here now and participating is obviously committed, so I can say for sure we have a strong community of Nxt'ers.

The next milestone will be general public adoption, at least the general crypto community and for that we need a rock solid client that hopefully supports forging and a reliable network. In my opinion, being second generation, we need to get to the point where this can be run securely on a mobile phone (transaction and forging) - to me - that is second generation, but that can come down the road as we have plenty to work on regarding the core of Nxt.

All this talk about marketing is great, I work in that space, however, it is not needed at this time and perhaps never will be. All energy and funds (if needed) need to go to development, at least in the next couple of weeks.

I vote that the majority of funds either be dedicated to development or destroyed.

The same again. What do you mean by "dedicated to development"? Do you have something in mind? Then share with the community and suggest a bounty and the community will vote for it.

Also what's the use of destroing the coins? That's fucking crazy. Even two payments of 5M to Cryptsy and BTC-E owners will be way better then destroying them.

But I do agree with the first part. Changing the code just for that reason is maddnes. Don't developers have something more important to do? Why the hell we need this commity at all? Let the coins stay were they are now and focus on ideas for development and promotion.

I can almost guarantee that the account locks is a new feature.  He wouldn't change the code for bounty Nxt distribution.  Anyway, I'm grateful he is providing 10M, he doesn't have to do that, and we can get on with out it if needed.

But he did. What's the reason to get rid of it? We can live without a car or lapton. Should we throw them out?

It's awesome that we have this huge amount of money. So let's take advantage of the opportunity. There are millioins ways to spend them. Another example, divide 10M between top developers so they can work on Nxt full time. But destroy the money? What are we, stoned hippies in flowers?

[ImmortAlex]

I disagree, BCNext is choosing 10 trusted members of the community to distribute the coins accordingly.  In essence he is creating what everyone here has been screaming for, a Nxt foundation.  For JLC, he can program 10 new locked accounts as a safeguard, probably a new Nxt feature that will require a different pass code to send.  You are right, probably a test of a new feature.  

What feature community want to test? Centralization? Occam's razor? May I recommend to choose twelve trusted members?

I honour community opinion to create Nxt foundation, but I strongly disagree with this opinion. Especially with option to create foundation inside code.

Ok. What's your proposal?

Same as lyynx:

if the individuals are trusted, why would the code need to be changed just to accommodate them?

- if BCNext is tired to distribute coins (and I can understand him)
- if BCNext do not trust completely some individuals (note: it's not centralization, I'm talk about individuals, not Nxt foundation)
- if we do not have multisig in near future (what is true innovation)

then let's send this coins to genesis. I'm not kidding, I'm completely serious.

[ImmortAlex]

But destroy the money?

Let's assume there were 1Bil - 10M coins in the genesis.
What's changing?

[lyynx]

I don't see what the rush is to distribute the 10 million Nxt, is there a specific reason? In addition, if the individuals are trusted, why would the code need to be changed just to accommodate them? This just doesn't make sense, perhaps I am misunderstanding?

We need features, and to make features we need developers, this is where the Nxt or Nxt>BTC should be spent (or atleast 80% of it). All the hoopla regarding Nxt has died down now and I believe we have reached critical mass in the Bitocointalk community as shown be the diminishing accounts being created everyday. Everyone that is here now and participating is obviously committed, so I can say for sure we have a strong community of Nxt'ers.

The next milestone will be general public adoption, at least the general crypto community and for that we need a rock solid client that hopefully supports forging and a reliable network. In my opinion, being second generation, we need to get to the point where this can be run securely on a mobile phone (transaction and forging) - to me - that is second generation, but that can come down the road as we have plenty to work on regarding the core of Nxt.

All this talk about marketing is great, I work in that space, however, it is not needed at this time and perhaps never will be. All energy and funds (if needed) need to go to development, at least in the next couple of weeks.

I vote that the majority of funds either be dedicated to development or destroyed.

The same again. What do you mean by "dedicated to development"? Do you have something in mind? Then share with the community and suggest a bounty and the community will vote for it.

Also what's the use of destroing the coins? That's fucking crazy. Even two payments of 5M to Cryptsy and BTC-E owners for adding Nxt to their exchanges will be way better then destroying them.

But I do agree with the first part. Changing the code just for that reason is maddnes. Don't developers have something more important to do? Why the hell we need this commity at all? Let the coins stay were they are now and focus on ideas for development and promotion.

Let me clarify the destroying of the coins (which is not desirable). If the code suddenly needs to be changed to address the issue of the coins not being claimed, I would rather have them destroyed then have a band aid put into the core. Messing with code in this manner is what's fucking crazy.

However, if we will not touch the code, then distribute them via community bounties. There are plenty of users I would feel comfortable having manage these funds on a trust basis alone without touching the code. But, i may be a bit too trusting as i donated 10,000 of the Nxt that Drexme was gracious enough to steal and sell for personal gain, but that's another story.

As for suggesting ideas, at this point, i just want to see the features originally planned implemented. I have worked as a project manager for one of the fastest growing POS (Point of Sale) companies in the US, so once the network and client are at a stage where they can reliably be integrated into other applications, I will have plenty of ideas to share. For instance, subscriptions (recurring payments).

In the meantime, my team and I are finalizing our Nxt trading platform and will present it when and if it 100% to our satisfaction.

[dzarmush]

the code suddenly needs to be changed to address the issue of the coins not being claimed

Where did you get that from?

[landomata]

@CFB.  I have a question regarding AM.  Can we make messages sent to any particular account public?  I was thinking we could use public messages as a feedback/trust system.  For example, if account "x" was selling something, I could go on blockchain explorer, lookup up that particular account, view public messages sent from previous users who had successfully purchased from account "x".  Thanks.

They r public by default.

Great, that's what I thought.  I'll see if nexern would be able to implement into Blockchain

Heard back from Nexern on including public messages (reputation system) with each account in BlockChain explorer as well as his new client.  He is going to include it.  We can now use public AM as a feedback/reputation system, since the transaction # will be associated with the message, you can check to make sure the transaction and feedback was legit and associated with a particular item for sale.  This will allow us to create simple listing markets (craigslist style), where most of the transaction can happen within the client from reputable sellers.

Still need some innovation but it's a step closer.

this also allows DarkNXT micro-news......messages broadcast from anywhere in the world...anonymously

[lyynx]

the code suddenly needs to be changed to address the issue of the coins not being claimed

Where did you get that from?

https://bitcointalk.org/index.php?topic=345619.msg4567150#msg4567150

[dzarmush]

the code suddenly needs to be changed to address the issue of the coins not being claimed

Where did you get that from?

https://bitcointalk.org/index.php?topic=345619.msg4567150#msg4567150

Doesn't look like there's lot of work. Just block outgoing transactions for 10 accounts, it's day job tops. And the whole idea seems great and reasonable.

[dzarmush]

Of course, using it for development and marketing seems like a way better use.

Absolutely. Only trolls and Nxt haters can suggest to destroy the money.

BCNext suggested a great idea how to proceed with the coins. I'd say we should do it.

[landomata]

Why it's so important to decide and to it right now what to do with that 10M. Everything goes just fine! Let's just go with the flow.

Does anybody have a great idea? Let's vote if it should be done and then vote how much we should spend on it. What can be easier?

Somebody suggested to make a photoshoot with girls to advertise Nxt. Let's do it. Share ideas of the photoshoot, draw sketches etc. Then vote for the best idea and size of a bounty. And so on with the rest of unclaimed money.

I have something similar in mind. It is like a concept of "open bounty". Anyone can step up and present his/ her idea, propose a bounty and let the community decides. So we continue the tradition of asking for bounties in a decentralized fashion as we have been already doing in nextcoin and nxtcrypto forums so far. But now funding would be a bit easier to come by since we have common pool in addition to private donors's fund.

This will work easier when we have the voting system in place. A person presents his/ her idea, propose a bounty and action plan, and set up a vote. Community can ask questions in the meantime and when the voting is over, the project will be funded if the vote passes the majority. A democratic and decentralized method of funding projects.

We can even implement this type of "open bounty" even when the voting system is not yet in place. In fact, we actually did it one time already with the case of Maco's android app as the overwhelming majority refused to fund his 500K NXT request for his app. So we actually had a precedent in place already. Let's continue the funding process in this type of decentralized fashion instead of giving one person/ or group the authority of giving out the funds.

AGREE 100%.....this already worked very well...so lets continue it then...there are a few projects to fund right now.

[pinarello]

NXT could use more support at http://bitvestor.info, maybe a thread discussing main features and future potential. At close to 1000 visits a day, it could be good for NXT! Quality content is always more effective!

Disclosure: I own bitvestor.info and have a decent size stake in NXT   

I am a member, had not much time to post yet

Pin

[allwelder]

I remember that :someone link the relation between publickey,secret Password and the Security before,but I can found it now,Can anyone help to provide this information?

Thanks.

https://bitcointalk.org/index.php?topic=366105.0

got it ,
Thank you ,smaragda

[Come-from-Beyond]

...to determine how to split the stake among founders.

Meaning... to establish the transactions that constitute the Genesis Block, right?   

Exactly.

[Come-from-Beyond]

Paralysed by the thought of having to read 1018 pages?

Generally scared of life now?

Fear not! Get your summary here!

 

I bet most of newbies won't see this message

[Come-from-Beyond]

I think NXT market gains should be measured from the value of initial release (~$1 million), not the 21BTC as that is a token amount and does not represent real world development costs.

James

Good idea.

but where did that value of initial release come from?

From vacuum.