NXT :: descendant of Bitcoin - Updated Information

[BitcoinForumator]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

I thought our team spoke to the Cryptsy team in Miami and then we have sended an email to them. But it's true that we don't see any developments about this.

if i remember correctly they want a client first and the re-evaluate.

Seems to me like Cryptsy is making excuses. Why a client?

They've been adding every altcoin possible, but they won't touch NXT.

(assuming that API isn't the problem - but other exchanges didn't have an API issue)

so again it brings me to think Cryptsy doesn't add NXT because of their own agenda.

[1714881106]

1714881106

[1714881106]

1714881106

[1714881106]

1714881106

[1714881106]

1714881106

[pinarello]

my penis is forging too, because I leased my forging power

Won't work for women... Can we use "Pin's" instead of "My" then?

That is...Pin's™

[TwinWinNerD]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

I thought our team spoke to the Cryptsy team in Miami and then we have sended an email to them. But it's true that we don't see any developments about this.

if i remember correctly they want a client first and the re-evaluate.

Seems to me like Cryptsy is making excuses. Why a client?

They've been adding every altcoin possible, but they won't touch NXT.

(assuming that API isn't the problem - but other exchanges didn't have an API issue)

so again it brings me to think Cryptsy doesn't add NXT because of their own agenda.

it is because it is not in C.
Every coin they have is with Bitcoin code.

[BitcoinForumator]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.


When I talk to people about Crypto - let's say I mentioned it to 50 people (but it was more than that) - NONE knew anything..."huh Crypto" - what? Bitcoin? Huh?"

[bitcoinpaul]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

Reaching it may be possible but to sustain it over a long period of time would be something else.

31 billion transactions if we could maintain 1000 TPS for a year.


If we every reach this level then we're on MAR!....forget MOON!

You get the causality wrong.

Let me explain:

One idea of Nxt was, theoretically, to be able to handle 1000TPS. To dethrone VISA maybe with their bullshit high fees. Some small shop owners lose 50% of there marge today because of VISA. Think about it.

Now, Nxt is the saviour. If we want to get to the Mars/Moon, there needs to be something like "well, no problem, we can easily handle 1000TPS in the future if we want. Just some coding and done". <- This maybe leads to 1000 TPS in the future -> to the mars in the future. Not the other way around.

btw visa handles 2000 TPS on average I believe.

[rickyjames]

I could state that my penis is forging too, because I leased my forging power.

Best quote in this thread. I'm gonna save it for future generations.

Once you lease your penis' forging power, you are unable to create future generations.

[Come-from-Beyond]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

[BitcoinForumator]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

Well I like it that you have a strong and confident sense of where this is going.

[bitcoinpaul]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

Ok. Major shift in marketing mix?

[Damelon]

I am more concerned with marketing campaigns that end up becoming a PR disaster due "ridiculously over optimistic" promises.

I agree with this completely, but it´s hard to market without making false promises if it comes out at a later stage (ie. now) that some things require much more than was initially said.

This happens, and I am aware of that, but BOY, that can blow up in our faces.

I am glad that these things are being discussed, but from my POV I would be much happier if from this point we are much more careful with promising things we won´t be able to deliver by April.

We can of course say the potential is there, and work on thát. If 100 TPS is doable, do it. Don´t aim for something that will just collapse and do so much damage to our image.
If 50 TPS is more realistic, do thát. It´s still way better than te competition.

I fear that all the claims will boomerang mercilessly otherwise.

Edit: at the moment I don´t care about Mars or the Moon, but getting a working space elevator.

Edit 2: still positive, but want to get on with realistic things instead of having to make claims that turn out to have a sting for now.

[rickyjames]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

Reaching it may be possible but to sustain it over a long period of time would be something else.

31 billion transactions if we could maintain 1000 TPS for a year.


If we every reach this level then we're on MAR!....forget MOON!

You get the causality wrong.

Let me explain:

One idea of Nxt was, theoretically, to be able to handle 1000TPS. To dethrone VISA maybe with their bullshit high fees. Some small shop owners lose 50% of there marge today because of VISA. Think about it.

Now, Nxt is the saviour. If we want to get to the Mars/Moon, there needs to be something like "well, no problem, we can easily handle 1000TPS in the future if we want. Just some coding and done". <- This maybe leads to 1000 TPS in the future -> to the mars in the future. Not the other way around.

btw visa handles 2000 TPS on average I believe.

For the record, there was no "theoretically" about 1000 TPS.

What do you mean with 4.25 tps to 1000 tps?

One of the killer features of Nxt is ability to process transactions at VISA rate (thousands per second).

Btw, any ideas how much the price will rise after VCs realize that Nxt is able to process 1000+ tps? 10x is min, imho. 100x-1000x is more likely...

CfB, how could you push "1000 TPS" and "solving blockchain bloat" knowing it implied utilizing a 300 GB NXT monthly blockchain that's 20 times bigger than the one Bitcoin has right now?  Your certainty on this point was part of the reason I assumed you guys had implemented JD Bruce's finite mini-blockchain idea...  

[Hacer88]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

Ok. Major shift in marketing mix?

The "Wall street guys" word has fallen again xD

[nakaone]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

a simple question without being in any way offensive

just in case we get into the world of finance, what makes nxt superior to say xcp, msc, bitshares and ethereum? we cannot handle high frequency trading, the others cannot as well..

when you give proper answer to this and it is technically possbile this should definetely be the way to go.

[pinarello]

And even if Cryptsy adds NXT...so what?

Maybe there will be a bit more redistribution from the top owners. But so what?

NXT is still only recognized in the Crypto world which is tiny.

I wouldn't expect to become very popular among ordinary people very soon. Let's continue our expansion to the world of finance, the rest of the world won't have another option after Wall Street guys start using Nxt.

Ok. Major shift in marketing mix?

I hope they are still watching this thread to change campaigns

[bitcoinpaul]

CfB, how could you push "1000 TPS" and "solving blockchain bloat" knowing it implied utilizing a 300 GB NXT  blockchain that's 20 times bigger than the one Bitcoin has right now?  Your certainty on this point was part of the reason I assumed you guys had implemented the finite mini-blockchain...  

Well, we have to admit that 1000TPS is still possible. For 1000TPS, 300GB blockchain is, maybe, freaking small. Don't you think?

We just have to adjust marketing stuff like "smartphone forging", "RaspPis secure nxt network" (only working with less TPS) and so on.

[landomata]

You get the causality wrong.

Let me explain:

One idea of Nxt was, theoretically, to be able to handle 1000TPS. To dethrone VISA maybe with their bullshit high fees. Some small shop owners lose 50% of there marge today because of VISA. Think about it.

Now, Nxt is the saviour. If we want to get to the Mars/Moon, there needs to be something like "well, no problem, we can easily handle 1000TPS in the future if we want. Just some coding and done". <- This maybe leads to 1000 TPS in the future -> to the mars in the future. Not the other way around.

btw visa handles 2000 TPS on average I believe.

My thinking is clear on this....why?

1) 70% of the world doesn't use VISA but they use MONEY.

2) 70% of the world will have a smartphone by 2015.

3) Smartphone processing speed and storage work to Moore's law.


The above point should give the proper perspective.

[pinarello]

[BitcoinForumator]

[CIYAM]

Well, we have to admit that 1000TPS is still possible. For 1000TPS, 300GB blockchain is, maybe, freaking small. Don't you think?

Maybe it is or maybe it isn't (still not quite clear to me) but do we really *need* to be marketing this angle *now*?

[rickyjames]

Well, we have to admit that 1000TPS is still possible. For 1000TPS, 300GB blockchain is, maybe, freaking small. Don't you think?

I have no idea.  I just know I'd rather have somebody in this thread educate me with a discussion of this topic instead of Turing complete languages.