NXT :: descendant of Bitcoin - Updated Information

[LiQio]

One thing is for sure a Turing-Complete Nxt would have much more marketing WOW than 1000 TPS Nxt.

I think everyone can clearly see that fact with Ethereum.

Actually - I don't see it (and I knew about that project before most others). Average people don't even know who Alan Turing is and I think would understand something like "can process transactions as fast as VISA can" much better than something that is "Turing complete" (they would probably say "oh - so did this Turing guy forget to complete something and why is it that we need to do that now?").

On the fees - I'd go with divide it by 10 (so 0.1) and see how that goes first before perhaps dividing by 10 again (maybe that won't be necessary for some months).

Think competition.

What Ethereum? It's sliding from Beta to Pre-Alpha...

Concerning min. fee: 0.1

[pinarello]

fee 0.1 to start

[minusbalancer]

I vote for 0.01 fee. Makes currency more attractive

[BitcoinForumator]

One thing is for sure a Turing-Complete Nxt would have much more marketing WOW than 1000 TPS Nxt.

I think everyone can clearly see that fact with Ethereum.

Actually - I don't see it (and I knew about that project before most others). Average people don't even know who Alan Turing is and I think would understand something like "can process transactions as fast as VISA can" much better than something that is "Turing complete" (they would probably say "oh - so did this Turing guy forget to complete something and why is it that we need to do that now?").

On the fees - I'd go with divide it by 10 (so 0.1) and see how that goes first before perhaps dividing by 10 again (maybe that won't be necessary for some months).

One thing is for sure a Turing-Complete Nxt would have much more marketing WOW than 1000 TPS Nxt.

I think everyone can clearly see that fact with Ethereum.

Actually - I don't see it (and I knew about that project before most others). Average people don't even know who Alan Turning is and I think would understand something like "can process transactions as fast as VISA can" much better than something that is "Turing complete" (they would probably say "oh - so this Turing guy forget to complete something and why is it that we need to do that now?").

On the fees - I'd go with divide it by 10 (so 0.1) and see how that goes first before perhaps dividing by 10 again (maybe that won't be necessary for some months).

I agree. Only programmers know what Turing complete is.


"As fast as VISA". As a customer, that means nothing to me. I just expect things to work flawlessly on the business owner side.

And as a business owner, I would also expect transactions as good as VISA - but I wouldn't really start thinking my dillema with "Is this as good as VISA?"

Most people have no clue. These marketing propositions and slogans like "better than VISA"...who gives a care about something like this?

Ok maybe it's an "eye-brow" raiser when you hear "better than VISA", or "Turium complete" - and that's only if you have a bit of a clue what that implies - for everyone else this means nothing.

As an business and as a customer you want things to have an advantage, which is mostly about price, the technical side is only from those who take care of that.

[landomata]

One thing is for sure a Turing-Complete Nxt would have much more marketing WOW than 1000 TPS Nxt.

I think everyone can clearly see that fact with Ethereum.

You cannot be serious with this statement.  What percentage of people have even heard the phrase "Turing-Complete"?   What percentage of people hate standing around waiting for that little machine to spit out their Visa slip?

People don;t really care it takes one minute but they care more that their purchasing power doesn't depreciate during the transaction.

If you want to pull off a VISA type setup your gonna have to fix the price of NXT....the US Dollar doesn't fluctuate on moment by moment basis....but NXT does.


This problem applies to both merchants & consumers....it's like buying goods in Euro and selling them in USD....after a certain amount of time your profits might be wiped out by rate fluctuations.

EDIT: Turing-Complete is to take the spot light off Ethereum...we are in the market for crypto-investments, programmers and early adopters....Turing-complete is a competitive threat against Nxt.

[Come-from-Beyond]

OK... one question... will this be changing again based on future NXT valuations?

I'm not sure I got the question. We r lowering fee coz rise of the price is expected and 1$ transaction fee would slow down further adoption.

[TwinWinNerD]

If we want to let NXT take off, then we NEED to lower fees. Micropayments are the way to try new currencies.

I am hesistent to send many Messages or send NXT around for fun because i dont want to spend 1 NXT to send 10 NXT...

0.1NXT and Fractional NXT!!!!!!

[bitcoinpaul]

On the fees - I'd go with divide it by 10 (so 0.1) and see how that goes first before perhaps dividing by 10 again (maybe that won't be necessary for some months).

+1

Average people don't even know who Alan Turing is and I think would understand something like "can process transactions as fast as VISA can" much better than something that is "Turing complete"

+1

Nxt should be sophisticated and able to get stuff like turing in the future, BUT there is a need for simple facts about Nxt why it is superior. "Better than VISA" is a great statement, many people get it. Turing is just boring.

I want sophistication and simplicity.

edit:

more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.

[BitcoinForumator]

If we want to let NXT take off, then we NEED to lower fees. Micropayments are the way to try new currencies.

I am hesistent to send many Messages or send NXT around for fun because i dont want to spend 1 NXT to send 10 NXT...

0.1NXT and Fractional NXT!!!!!!

+1

[grex]

If we want to let NXT take off, then we NEED to lower fees. Micropayments are the way to try new currencies.

I am hesistent to send many Messages or send NXT around for fun because i dont want to spend 1 NXT to send 10 NXT...

0.1NXT and Fractional NXT!!!!!!

+1

[rickyjames]

I officially request that the NXTcommunityfund put out a bounty for the first person that successfully forges a block onto a simulated 300 GB NXT blockchain in a testbed setup.  Full specifications of system used and documentation of experiences in accomplishing the task required to claim the reward.

[Hacer88]

OK... one question... will this be changing again based on future NXT valuations?

I'm not sure I got the question. We r lowering fee coz rise of the price is expected and 1$ transaction fee would slow down further adoption.

Expecting 1 NXT = 1$ ? > Panic buying :p

[martismartis]

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Release 0.5.12

http://download.nxtcrypto.org/nxt-client-0.5.12.zip

sha256: 30856c5f76b4194d40ece68d480956999ff8072b7b6a78b0be7d9da535dc969a

Change log:

Fixed a critical bug. Everybody should upgrade immediately.


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Which critical error was in 0.5.11?

[mthcl]

Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.

I think 0.01 would be OK.

[Mistafreeze]

THIS IS A CRITICAL UPDATE

Installer for version Nxt 0.5.12 has been released. This version will check to see if Java is installed. If it is not, it will download and install it if you so choose.

Download here: https://nextcoin.org/index.php/topic,1902.0.html
or here https://forums.nxtcrypto.org/viewtopic.php?f=15&t=311

https://bitcointalk.org/index.php?topic=345619.msg4953099#msg4953099

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Release 0.5.12

http://download.nxtcrypto.org/nxt-client-0.5.12.zip

sha256: 30856c5f76b4194d40ece68d480956999ff8072b7b6a78b0be7d9da535dc969a

Change log:

Fixed a critical bug. Everybody should upgrade immediately.


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[bitcoinpaul]

I quote myself because I want some comments on this and it got lost on page 1547

Nxt should be sophisticated and able to get stuff like turing in the future, BUT there is a need for simple facts about Nxt why it is superior. "Better than VISA" is a great statement, many people get it. Turing is just boring.

I want sophistication and simplicity.

edit:

more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.

[gimre]

Also 0.1

0.01 seems too low for beginning and 0.25 feels like small difference compared to 1

[Come-from-Beyond]

OK... one question... will this be changing again based on future NXT valuations?

I'm not sure I got the question. We r lowering fee coz rise of the price is expected and 1$ transaction fee would slow down further adoption.

Expecting 1 NXT = 1$ ? > Panic buying :p

Not today, don't panic.

[intel]

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

So, if we 'll have 0.01 NXT fee per transaction, it means 1 transaction 'll cost $0.10 which looks valid for most of merchants and NXT users.

We should decide, is it 0.01 or 0.001. Let me remind that only because of small fee (with many zero in the number) bitcoin costs now 800-1000 USD per each. It was not possible with 0.1 or 0.01 BTC fee per operation (100 USD or 10 USD per operation).

I vote for 0.001 fee. We must be realists and be ready for mass adoption usage scenario which fortunately/unfortunately increase the price of NXT. Also we cant change the fee every week or so - it's crazy.

Community, you decide the fee for years, not for few months!

Welcome to 0.001 Club!

PS: 0.001 Club Members 'll get ability to use P2P encrypted messaging service (via NXT AM) and pay almost nothing for secure communication of next generation!

PPS: 0.001 Club Members 'll increase their equity value of NXT, guaranteed.

[Come-from-Beyond]

Which critical error was in 0.5.11?

Will be disclosed later.