NXT :: descendant of Bitcoin - Updated Information

[EvilDave]

I call 0.00024431 our new High!!!   

Wrong. I sold for the highest high in history. Right after bter added it.



0.003

I hate u.....

[1714711788]

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[1714711788]

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[1714711788]

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[pt7]

what with special cases, like the exchanges?

can they vote with users NXT?

Perhaps a colored coin concept can preserve the identity of the beneficial owners of NXT on an exchange? Something that is attached when a user acquires or uploads NXT, and removed when it is sold?

Or a smart contract between the exchange and its users requiring the exhange to cast votes as directed by users?

This too can be gamed.  Assume a person can uniquely be identified with colored coins.  What is to stop a significant stakeholder attaching colored coins to hobos for some pocket change to gain additional votes.   The only solution that cannot be gamed is 1 NXT = 1 vote?  This is also consistent with POS.

[TwinWinNerD]

Daily Update of NXT Top Account distribution:




Data can be found here: https://docs.google.com/spreadsheet/ccc?key=0AtzyrOvYCfTTdEphdjBHNlNUMVZZUXd2RmlNVDRiUWc&usp=sharing

Includes the 2 big Exchange accounts: 10715382765594435905 and 12292439833850569026

I edited it now

[brooklynbtc]

Hey Salsacz,

 Can you help me find graphic designers for this project? I've removed the design estimated costs from the proposal

 https://nextcoin.org/index.php/topic,3441.0.html

 Does anyone know who designed http://www.nxtcrypto.org/ ?

 It would make sense to link the cards to that site, and match the "look and feel"

 We could link Wesley's modified redemption faucet right into the site with a /redeem/ URL on the cards

 I think this is a great idea and I am not asking for money to do it, only looking to raise funds and help to make it happen

 Thanks!

[brooklynbtc]

what with special cases, like the exchanges?

can they vote with users NXT?

Perhaps a colored coin concept can preserve the identity of the beneficial owners of NXT on an exchange? Something that is attached when a user acquires or uploads NXT, and removed when it is sold?

Or a smart contract between the exchange and its users requiring the exhange to cast votes as directed by users?

This too can be gamed.  Assume a person can uniquely be identified with colored coins.  What is to stop a significant stakeholder attaching colored coins to hobos for some pocket change to gain additional votes.   The only solution that cannot be gamed is 1 NXT = 1 vote.  This is also consistent with POS.

ha hobos. NXT in boxcars now

[Passion_ltc]

I call 0.00024431 our new High!!!   

Wrong. I sold for the highest high in history. Right after bter added it.



0.003

I hate u.....

I bought NXT again from these BTCs.

[barbierir]

I read the following link in a previous post:

http://wiki.nxtcrypto.org/wiki/Account_Control

This would be a really brilliant feature!

It means almost theft-safe accounts, provided that you can set a control as not reversible

I would do this way:

1) I create a "safe" account A and a "spending" account B
2) I set that account A can only send Nxt to account B and only a limited daily amount

If someone stole my passphrase for account A he could do nothing, if he stole account B he could steal my Nxt but the damage would be limited. If I found that account B is compromised I can create account C and lock account B in the same way as A  

I wonder if such feature could be implemented in bitcoin? Probably it requires some great change in the protocol

[salsacz]

I have a new way to explain why NXT fundraising was closed at 73 people.

James

NXT fundraising was closed because BCNext generated the Genesis Block.  

It's not that hard to understand, but people seem to want to create all kinds of controversy around it.

It was closed so the genesis block could be created and the community could start building the software and ecosystem. If BCNext waited until Jan, we'd be 2 months behind.


Also, he stopped at 21 bitcoins because he liked the number "21", as in there are 21 million bitcoins  That's the only symbolism going on around here.

I wrote about 3 symbols in NxtMyths1:
Now we know about 3 symbolic numbers hidden in the world of Nxt:
-       3 January – the release of Nxt happened 5 years after the release of Bitcoin.
-       21 Bitcoins – The IPO was stopped in the time when were gathered 21 Bitcoins, i tis 1/1000.000 of the all existing Bitcoins from now on.
-       Anonymous BCNext – BCNext plays the same role as Satoshi Nakamoto. We don’t know who they are.

http://nxtcoin.blogspot.cz/

[okaynow]

Hm... It was started like corporation. So at what moment do you think it became corporation no more?

Hm.. gee i don't know...
maybe because a forum board is not a legal document? No paper anywhere? No law to abide?
Could it be that you can be mistaking stakeholder for shareholder?

[Passion_ltc]

nxtion.com update

https://forums.nxtcrypto.org/viewtopic.php?f=2&t=666

I created a vote here and it seems like the encrypted message won. So I will implement this. Right now I decided to use sha128. But I think there may be other crypto algorithms, which maybe are better. If you can deliver a source for a php implementation (I'm not a crypto guy (not now! :p), so I can't implement it. I can just handle the algorithms and create services with them) then I will think about choose this. If I can find a sha256 php implementation I will take this one.


We had some problems with the blockchain at the beginning. I hope that I cleared them all yesterday and this evening.

If tomorrow at 8pm everything still runs fine we will make a "stress test" I will pay for all shouts until there are 100 shouts in total. I will change it in the source code, so you just have to register and type in the message. The NXT will be taken from my account.

Thanks.

[starik69]

Wow! Refactoring!

"NRS (0.6.0) @ NCC-1701-D"

[BitcoinForumator]

I have a new way to explain why NXT fundraising was closed at 73 people.

Actually 2 ways, one is a symbolic/superstitious explanation:

BCNext felt strongly that one millionth of BTC ultimate supply is the perfect amount to start NXT with.

OK, it might seem silly to a lot of you, but do you know what percentage of people believe in astrology, ghosts, numerology, etc? The million to one ratio is easily understood by almost all of the world.

The other is legal. BCNext knew that with rapidly rising BTC prices that if he didn't stop the fundraising, the amount raised would exceed the legal thresholds in more and more jurisdictions. Imagine if BCNext raised $25 million dollars worth of BTC (what etherium is trying to do), then all sorts of lawyers would be buzzing around and if NXT went down in price, there would be all sorts of legal issues to deal with. As it is with the token amount raised, there can be no legal liability from the fundraising. This is a big advantage that NXT will have over emunie, etherium, etc. I predict if they succeed in raising millions of dollars in capital, they will inevitably get embroiled in litigation, possibly from multiple jurisdictions. If the price goes down, they might very well be forced to refund all investors with what is remaining of their funds after all the legal expenses.

So, BCNext was either very superstitious, symbolic or legally conservative.

We can vote on which you think is right

James

Always interesting to read...

[starik69]

Could it be that you can be mistaking stakeholder for shareholder?

Then NXT are not people either.

[smartwart]

Sure. We all understand that its not perfect. No one claims that it is. Sometimes you have to go with the least bad option. 1 human body 1 vote would be ideal for certain situations (like your example with a logo) but thats just not an option that we have available to us and any attempt to get an outcome closer to that out of a system like nxt will either entail more cost than benefit or be open to massive gaming.

It sure seems this way, but I hope that if we keep discussing it, we might eventually stumble upon some clever, unexpected solution.

Too early to give up

we already have a simple solution for this dilemma.
The poll creator will decide what the boundary condition will be.

This can be implemented in client with ease!

[okaynow]

Could it be that you can be mistaking stakeholder for shareholder?

Then NXT are not people either.

No they are not, did anyone say so?

[xyzzyx]

https://forums.nxtcrypto.org/viewtopic.php?f=2&t=666

I created a vote here and it seems like the encrypted message won. So I will implement this. Right now I decided to use sha128. But I think there may be other crypto algorithms, which maybe are better. If you can deliver a source for a php implementation (I'm not a crypto guy (not now! :p), so I can't implement it. I can just handle the algorithms and create services with them) then I will think about choose this. If I can find a sha256 php implementation I will take this one.

Take a look at the topic "Nxt encryption algorithm" posted by CfB:

https://nextcoin.org/index.php?topic=727.0

[jl777]

...we need a simple easy to understand answer that doesn't allow for it to be twisted into the NXT opponents mantra of "greedy founders".

James

Here are a couple different appeals, not all of them congruent.

Appeal to potential investor greed:
The tone of the appeal needs to more more forward looking than backward looking, more focused on the possibilities to be enjoyed by investing now, rather than justifying BCNext's decisions. This appeal targets speculators.
"If you believe that NXT offers the possibility of significant value appreciation, then it might make sense for you buy a stake."
People who buy shares of Bekrshire Hathaway do so because they believe that its value will increase from this point forward more than other things they might invest in. But I don't think they spend a lot of time condemning Warren Buffet or any of the early adopters for having made enormous gains already.  

Appeal to development integrity:
This appeal targets long-term investors.
BCNext closed the funding period because he accumulated exactly the amount of startup funding that was necessary for the project. Taking on more funding would have, in his view, corrupted [this might not be the best word] the development process. The goal was always, and continues to be, developing the best cyptographic architecture. It is common these days for corporations to reward stockholders at the expense of sound product development principles. BCNext is old fashioned in that he always places the integrity of the product above the financial rewards of his investors. But, as we all know, if the product is excellent, the money will find it.

Do any of these appeals help us think about the audience we might be writing to, and the way we want to position the NXT product/process?

I like them both!
We can have a decentralized response. Why not have a place where the half dozen effective responses are and people can choose which one they like the best.

James

[salsacz]

Funding request
Most of us agreed with the decision to have a paid 1 minute sponsor spot at the Let's talk Bitcoin

There will be also 4 new shows with sposor spots, but I wouldn't like to spend too much NXT.

We decided for: 1 minute long ad (=sponsor spot) at the main show for 3 months for 290k NXT (we can pay in BTC)

One stakeholder is willing to pay 1/3 of the NXT. Would anyone join him?

Could we spare some unclaimed coins for this advertisement?

Who wants details, I will send him them.

NxtMarketing account:

2037401990853753795

more info: https://bitcointalk.org/index.php?topic=345619.msg4744614#msg4744614 + https://bitcointalk.org/index.php?topic=345619.msg4744963#msg4744963

Bump. First episode with our spot is this Friday!

[cryptolawyer]

what with special cases, like the exchanges?

can they vote with users NXT?

Perhaps a colored coin concept can preserve the identity of the beneficial owners of NXT on an exchange? Something that is attached when a user acquires or uploads NXT, and removed when it is sold?

Or a smart contract between the exchange and its users requiring the exhange to cast votes as directed by users?

This too can be gamed.  Assume a person can uniquely be identified with colored coins.  What is to stop a significant stakeholder attaching colored coins to hobos for some pocket change to gain additional votes.   The only solution that cannot be gamed is 1 NXT = 1 vote?  This is also consistent with POS.

I was suggesting a way to preserve 1 NXT - vote (and perhaps this can be extended to forging as well).

Unless I misunderstand it, right now the exchanges get the forging power of all the NXT they hold, and I assume the vote system would work the same way by default (the exchange would get one vote for each NXT it holds). What I am suggesting implements via the unique features of a decentralized ledger the way it works in the public markets today; if you own Apple stock through a brokerage account, you instruct your broker how to vote your shares, and the broker actually casts the votes.

Same for forging...why does DGEX get all the payoff for holding its users' NXT? Of course, if they lose that, expect higher fees charged to users for DGEX's services.

[Passion_ltc]

https://forums.nxtcrypto.org/viewtopic.php?f=2&t=666

I created a vote here and it seems like the encrypted message won. So I will implement this. Right now I decided to use sha128. But I think there may be other crypto algorithms, which maybe are better. If you can deliver a source for a php implementation (I'm not a crypto guy (not now! :p), so I can't implement it. I can just handle the algorithms and create services with them) then I will think about choose this. If I can find a sha256 php implementation I will take this one.

Take a look at the topic "Nxt encryption algorithm" posted by CfB:

https://nextcoin.org/index.php?topic=727.0

Thanks. But I don't know how this can help me? I'm talking about sending messages via the AMs.

Same for forging...why does DGEX get all the payoff for holding its users' NXT? Of course, if they lose that, expect higher fees charged to users for DGEX's services.

This. I see 100% POS as a system to prevent exchanges from taking fees. They get them by holding the users NXT.