NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

Why not? Just do it.

[1714125062]

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[ImmortAlex]

Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

No. You can't send coins from account with non-positive balance.

[utopianfuture]

In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future.

That is simply not going to work - the laws about public companies are very strict and very different in every single country (btw - stop thinking that the US is all that matters, please).

So thinking that some sort of anonymous corporation would be covered by *any* specific countries laws just doesn't make sense (as they are contradictory).

To have a corporation *work* in a decentralised manner means that lawyers and laws *must not apply*.

It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this).

I am not talking about the autonomous corporation which sounds very futuristic but ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally. Now talking about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList.

In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundraising and stock exchange is pretty much parallel to process that Bitcoin revolutionize the concept of currency and payment.

[FrictionlessCoin]

Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

No. You can't send coins from account with non-positive balance.

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?

[CIYAM]

I am not talking about anonymous corporation which sound very futuristic and ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally.

If we are talking about "proper public companies" then I don't see any reason why they wouldn't just stick to stock exchanges - there is nothing for them to gain but a bad reputation if they start listing on P2P Exchanges IMO.

BTW - I am not a US citizen so its laws are actually not well known to me at all.

Now talk about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList. In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundrasing and stock exchage is pretty much parallel to process that Bitcoin  revolutionize the concept of currency and payment.

I don't agree - the advantage that a P2P Exchange has is simply allowing anonymity. Any decent public company doesn't need that and so doesn't need P2P and the "bad rep" that comes with it.

A "revolution" would be a company whose rules work entirely upon "math" and therefore "don't need" laws or lawyers. We may see that down the track but I don't think that Nxt Asset Exchange has been created with this in mind (nor what is being developed in at least most other similar projects).

[EmoneyRu]

Is that going to blow out the memory of Nxt nodes?

Omg, read how alias registration works

[ImmortAlex]

Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

No. You can't send coins from account with non-positive balance.

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?

A lot of transactions are coming in. This is transactions with alias assignment, that's why they have zero values.

[minusbalancer]

Sources of the dotNXT Client are published:

https://bitbucket.org/minusbalancer/dotnxt-client
https://bitbucket.org/minusbalancer/dotnxt-core

I am using Visual Studio 2012 Pro to build the application.

[CIYAM]

It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this).

What about DNAs?    

Edit:  DNA == Decentralized Next Agent

You need to be perhaps a bit more "precise" in what this DNA actually is - is it some math rules that dictates how the company operates?

[SkillRoad]

Sources of the dotNXT Client are published:

https://bitbucket.org/minusbalancer/dotnxt-client
https://bitbucket.org/minusbalancer/dotnxt-core

I am using Visual Studio 2012 Pro to build the application.

Thanks 

[ImmortAlex]

Is that going to blow out the memory of Nxt nodes?

Omg, read how alias registration works

He do not need to know how Nxt works. This knowledge will only prevent him to troll.

[BitcoinForumator]

Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

No. You can't send coins from account with non-positive balance.

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?

For a guy who's suppose to bring something revolutionary, you seem very clueless. It doesn't really inspire confidence for "investors".

[Come-from-Beyond]

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?

Yes, all nodes will blow after number of transactions reaches 666.

[utopianfuture]

There is no place for small start-up companies in established exchanges. In general it is very difficult for a small start-up to get 100K$ from anywhere except from from personal funds to start the business.  Google AngelList and read about it.

Anonymity is a niche thing as you can see how Bitcoin moves away from it as it grows mainstream.

UP

I am not talking about anonymous corporation which sound very futuristic and ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally.

If we are talking about "proper public companies" then I don't see any reason why they wouldn't just stick to stock exchanges - there is nothing for them to gain but a bad reputation if they start listing on P2P Exchanges IMO.

BTW - I am not a US citizen so its laws are actually not well known to me at all.

Now talk about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList. In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundrasing and stock exchage is pretty much parallel to process that Bitcoin  revolutionize the concept of currency and payment.

I don't agree - the advantage that a P2P Exchange has is simply allowing anonymity. Any decent public company doesn't need that and so doesn't need P2P and the "bad rep" that comes with it.

A "revolution" would be a company whose rules work entirely upon "math" and therefore "don't need" laws or lawyers. We may see that down the track but I don't think that Nxt Asset Exchange has been created with this in mind (nor what is being developed in at least most other similar projects).

[NxtChg]

Sources of the dotNXT Client are published:

https://bitbucket.org/minusbalancer/dotnxt-client
https://bitbucket.org/minusbalancer/dotnxt-core

I am using Visual Studio 2012 Pro to build the application.

Great work!

[CIYAM]

Hope this help...   https://bitcointalk.org/index.php?topic=345619.msg4580211#msg4580211     

It doesn't seem to go into any detail at all - understand I am not *against* the idea of some sort of "decentralised corporation" but I think that at the moment the way people are going about it is *ass about*.

The current mechanism seems to support the "pirateat40" model that says "Hey, here is a great investment - give me your money!" and then later disappears with the money along with a bunch of people then trying to use the "legal system" in whatever country to "catch them".

If you are going to use the "legal system" at all then you should use it from day 1 and if you are not then you need something better than someones "rep" on the internet.

[ImmortAlex]

Sources of the dotNXT Client are published:

https://bitbucket.org/minusbalancer/dotnxt-client
https://bitbucket.org/minusbalancer/dotnxt-core

I am using Visual Studio 2012 Pro to build the application.

Great work!

Great news, actually. Open-source clients - that's what we all need.

[CIYAM]

There is no place for small start-up companies in established exchanges. In general it is very difficult for a small start-up to get 100K$ from anywhere except from from personal funds to start the business.  Google AngelList and read about it.

This is why you start "private companies" and if the whole point of the Asset Exchange is to replicate "Kick Starter" then I think it will fail from day 1 (as I understand the US has already made laws about that approach which I am sure other western countries at least will soon follow).

[bitcoinpaul]

Now, could some people crawl through the code please? Just to be secure...

[CIYAM]

I singled out the part of your comment about Ethereum intentionally... very curious if DNAs will open such possibility in Nxt.

I am interested in how this might progress - as stated you might want to look into what Open Transactions has done with this area (they have done an awful lot).

I also think that the (much hated) voting system will probably be a key aspect (and for this case I think it would generally be pretty much clear that those with the greatest holdings would hold the power).

When the "decisions" of the "virtual corporation" are decided by a "vote" and the funds are *controlled* by the voting majority then you start to get something that is *different* and interesting.

Imagine if "pirateat40" could not actually do anything with his funds without the majority of holders agreeing (perhaps you wouldn't even see such a scam come into existence)?