NXT :: descendant of Bitcoin - Updated Information

[pinarello]

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.

In fact normally we shouldn’t need this 10M NXT, but the problem is we don't find sponsors (stakeholder founders) to support our projects.

As of now it are always the same 3,4 stakeholders founders that come forward with sponsoring.

Big stakeholders have to understand that decentralization depends upon them some kind of way, if they don’t sponsor voluntarily they will lose grip on NXT and in a way NXT get more decentralized from stakeholders founders, but more centralized for decision making.

I propose use the 10M for further development or send them back to genesis block.

At the same time the stakeholders founders should put together a 20M bounty/rewards fund and decide how to administer and divide that money.

If they don’t and we have to vote for it (10M) I doubt there will be one big stakeholder founder chosen to take part of the foundation.

What I am saying is:

1)   We depend on that 10M for the future and have to vote for administer them
2)   The (other)stakeholders founders put together a fund for the future and do it themselves
3)   If none of above, sent back to genesis.(or to my account)

BTW: now we have message system somebody should sent a message to that accounts!


Pin

[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.

In fact normally we shouldn’t need this 10M NXT, but the problem is we don't find sponsors (stakeholder founders) to support our projects.

As of now it are always the same 3,4 stakeholders founders that come forward with sponsoring.

Big stakeholders have to understand that decentralization depends upon them some kind of way, if they don’t sponsor voluntarily they will lose grip on NXT and in a way NXT get more decentralized from stakeholders founders, but more centralized for decision making.

I propose use the 10M for further development or send them back to genesis block.

At the same time the stakeholders founders should put together a 20M bounty/rewards fund and decide how to administer and divide that money.

If they don’t and we have to vote for it (10M) I doubt there will be one big stakeholder founder chosen to take part of the foundation.

What I am saying is:

1)   We depend on that 10M for the future and have to vote for administer them
2)   The (other)stakeholders founders put together a fund for the future and do it themselves
3)   If none of above, sent back to genesis.

BTW: now we have message system somebody should sent a message to that accounts!


Pin

Now you sound like one of those who missed the train. Stakeholders shouldn't do anything unless they want to. We have 10M, we need to make something cool for Nxt. If it'll make you feel better just think that one of the initial stakeholders gave these 10M to the community. Actually it's kinda like that anyway.

[Come-from-Beyond]

But destroy the money?

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

Sending coins to the genesis increases value of the other coins. So big stakeholders get more benefit.

[Uniqueorn]

As someone who is constantly working with people for weeks now trying to get stuff done, it is really simple: those millions can do A LOT for NXT and I mean A LOT.
Several super talented people are willing to do great work for tens of thousands of NXT, you can host BIG showmatches in eSports for tens of thousands of NXT that will make NXT known as a currency to tens if not hundreds of thousands of people within a month, you can get professionally made videos, websites, graphics for anything etc.

Is 10 million enough? It all depends, it would still be very good and healthy of the founders to donate more, but 10mill will help a lot to get A LOT of work done aswell as keeping the active members of the community interested.

[slothbag]

Wouldn't it be cool if the distribution of NXT could be handled by a bounty voting system internal to the protocol.. so proof of stake could be used to vote on bounties.. the winners automatically get distributed a new issuance of NXT.

[Bitventurer]

sending them to genesis  is ridiculous )))  , why not hire some coders, build soft, exchanges.. and so on...

by the way how s the white paper doing ? is somebody working on it?
have we found some cryptographer to check the code?when will the code be open?

[Uniqueorn]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

[dzarmush]

But destroy the money?

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

Sending coins to the genesis increases value of the other coins. So big stakeholders get more benefit.

That is no benefit. it is short sighted, stupid and a funding and PR nightmare. What are we to tell people when they ask about the destruction of 1% of the currency? "Oh, it increased the value of nxt holders. It's a good thing." And what are you to tell those that you would expect a donation or bounty from? "Well we had 10mil Nxt, but couldn't come to a consensus so we burned it... but we need your donation." Good luck with that.


EDIT: Frankly I am completely dumbfounded that burning these 10mil Nxt is even being discussed.

It's like Jobs and Woz seating in the garage and discussing future of Apple:
— We've got $10'000, shoud we use it for improving our computer?
— Nah, burn the fucking money

Pin's version:
— We've got $10'000, shoud we use it for improving our computer?
— Will your dad give us $20'000 more if we use our $10'000
— No
— Then burn the fucking money

[pinarello]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

blocking accounts is a precedent, NXT we will vote to block surten accounts. cooool

[pinarello]

But destroy the money?

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

Sending coins to the genesis increases value of the other coins. So big stakeholders get more benefit.

That is no benefit. it is short sighted, stupid and a funding and PR nightmare. What are we to tell people when they ask about the destruction of 1% of the currency? "Oh, it increased the value of nxt holders. It's a good thing." And what are you to tell those that you would expect a donation or bounty from? "Well we had 10mil Nxt, but couldn't come to a consensus so we burned it... but we need your donation." Good luck with that.


EDIT: Frankly I am completely dumbfounded that burning these 10mil Nxt is even being discussed.

It's like Jobs and Woz seating in the garage and discussing future of Apple:
— We've got $10'000, shoud we use it for improving our computer?
— Nah, burn the fucking money

Pin's version:
— We've got $10'000, shoud we use it for improving our computer?
— Will your dad give us $20'000 more if we use our $10'000
— No
— Then burn the fucking money

dzarmhus you must stop getting personal here. what is the matter with you!

read what I have written in stead of telling people what "I" have proposed, it was posing a posibility, did I say to do it that way? does it reflect what I should do?

NO


Pin

[bitcoinpaul]

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.

• Don't send them to genesis account. How stupid is that? Use them for bounties! Jesus. Are you out of your mind?
• Account locking will be developed in the (i hope near) future, so why don't we wait until this happens? Until then, we move along as always
• Hardcoding this stuff in the core code is an easy target for trolls. Don't do it

[Come-from-Beyond]

Does anyone see zombie activity? I need to collect stats for project "Kharon", but I see only legit peers.

[dzarmush]

It'll never be sent to genesis, it seems from the response already that 90+ % is in favour of doing it the way CfB suggested, I.E. handing out 1 mill to 10 chosen members and then voting on which projects are going to get funding.
This is the only sensible thing to do.

Hell we have upcoming Bitcoin conferences where we are going to have attendees with brochures, business cards and hopefully even a stand and speakers at the ones in Europe next month.
Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

blocking accounts is a precedent, NXT we will vote to block surten accounts. cooool

I wouldn't block anything at all. There is no problem to find 10 trusted people.

[firl21]

couple of quick questions before i put my rig on nxt coin
1. What type of coin is this, it says not scrypt, but its dosent say sha 256. Would asics work or would graphics cards work
2. What is this traded on
3. what is the market adoption of this so far?
4. current NXT/BTX and NXT/USD?

[swartzfeger]

Currently we are funding this privately (plane tickets, hotels, the creation of brochures etc.), which is just idiotic that we, a select few who isn't among the original stake holders should have to pay from our own wallet.

These are the types of projects those 10 mill should fund.

This needs to be emphasized.

Modifying code is terrible, but so is tossing 10 million NXT.

Save 8 for future development, give 2 to someone trusted like Salsacz and/or Uniqueorn and start letting the PR guys have some fun.

I understand (and agree) with the reluctance to promote something that isn't quite ready, but developing campaigns isn't instantaneous, either. Giving the PR guys some funds will help them maintain and keep the teams they've already built and hopefully have some great stuff ready for when Nxt starts hitting its stride.

[Come-from-Beyond]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

[swartzfeger]

couple of quick questions before i put my rig on nxt coin
1. What type of coin is this, it says not scrypt, but its dosent say sha 256. Would asics work or would graphics cards work
2. What is this traded on
3. what is the market adoption of this so far?
4. current NXT/BTX and NXT/USD?

First:  http://wiki.nxtcrypto.org

1. Neither. It's a next generation coin (hence, 'Nxt')
2. http://wiki.nxtcrypto.org/wiki/Exchanges
3. 0 (for now).
4. See exchanges (basically, 1 NXT = .03 USD)

You've got a few weeks (max) before the train leaves the station

[Come-from-Beyond]

That's funny.

I decided to create a throw-away account to test the code, as a passphrase I used the very 1st thing that caught my attention - "http://localhost:7874/" in the browser address field. Can u imagine, this account had some coins on the balance!

[landomata]

I wouldn't block anything at all. There is no problem to find 10 trusted people.

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I say you keep the funds and we keep running these contest....seems to be working....if they want funding enter the contest if they create something good then they win the funding....not need to spend money if the work will not be done or be wasted.


SO....my idea: EACH MONTH....for the next ten months we spend 1 million NXT.

Contest: Can be marketing plans, PR plans, Client, Websites, Plans to further Nxt growth, etc.

LOOK HOW THE AM CONTEST IS MOTIVATING PEOPLE.

[swartzfeger]

Looks like idea to block 10 accounts failed. What about sending 1M to 10 accounts without changes in the code?

I would sleep much, much better knowing that there will be no code change. Why 10 though -- is it an arbitrary number? Why not 5, or 15? Is it mostly to keep things simple and divisible?