NXT :: descendant of Bitcoin - Updated Information

[CIYAM]

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

Indeed - these seem like pretty good features which is why I question (although have also posted ideas about) the need for things like "Turing complete" contracts (or whatever they should be called).

It appears that this is a bit of a problem for the Nxt community - it doesn't seem to know exactly who it is trying to appeal to (apart from *everyone*).

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[Hegemon]

Not today, don't panic.

tomorrow ?  

vote 0.01

Also we cant change the fee every week or so - it's crazy.

+1

[lyynx]

.1 Nxt Fee is my vote presently. However, if Nxt value exceeds 1 Nxt = $1 USD or .75 Euro, then I would say .01

[voldemort628]

0.1nxt should be the min fee for now.
And i propose that we revisit the issue once price reaches new range (hopefully higher range).

[Noitev]

0.1 is fine...

[CIYAM]

And i propose that we revisit the issue once price reaches new range (hopefully higher range).

Why not be a bit "next generation" and have the minimum fee worked out according to tx history (so it could be adjusted up or down automatically based upon the bandwidth consumption)?

[Damelon]

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.

You know, thís happens quite a lot: talking about two different things
Please don´t muddle the waters by answering a question about the marketing for mainstream with an argument about marketing for crypto-investers and programmers.

That really doesn´t help.

For mainstream Turing-complete is a useless fact. VISA is better, but the mainstream person, as someone already said, doesn´t know and doesn´t care.
They just want it to work, smoothly and effortlessly and it also must be cool.

The VISA and Turing is for here and the experts. Those are important to get even started. We won´t reach mainstream without first tackling that.

[fmiboy]

Tell me again how I can forge with my smartphone? What are the details of a hypothetical "lightweight client"?

U will lease forging power. And u don't need complete blockchain coz u can send transactions via public nodes (Service Providers in the future).

If I remember, cfb mentioned that you can forge with 2 or possibly more account from same running Nxt.
I wonder though, can one log in any node and close browser to be able to forge?

Fee 0.01

[bidji29]

fee: 0.1

[CIYAM]

If I remember, cfb mentioned that you can forge with 2 or possibly more account from same running Nxt.
I wonder though, can one log in any node and close browser to be able to forge?

From what I understood the Account Control (is that the right name?) feature will allow you to allocate your "forging" rights to another account (although I don't think that the specifics have been disclosed yet).

So I don't think you would need to be "logged in" at all.

[nakaone]

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

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

[voldemort628]

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

Indeed - these seem like pretty good features which is why I question (although have also posted ideas about) the need for things like "Turing complete" contracts (or whatever they should be called).

It appears that this is a bit of a problem for the Nxt community - it doesn't seem to know exactly who it is trying to appeal to (apart from *everyone*).

Totally agree with Ian.
Nxt needs clear visions + proper planning + good organisations + talented devs + supportive community.
Community members should step up and start taking up responsibilities.Get ready for post-cfb period, when our community have a clear view of bcnext's plans and make WELL INFORMED decisions.

[abuelau]

fee: 0.1

Don't forget that with lower fees the incentive to forge also diminishes.

[seek4dream]

0.1nxt should be the min fee for now.
And i propose that we revisit the issue once price reaches new range (hopefully higher range).

agree

[Come-from-Beyond]

Regarding Scripts:

Every script will reserve a chunk of memory (subject to fee charging).
Every memory cell will be a signed 64-bit integer.
Scripts won't be able to modify themselves nor other scripts, so JIT-compilation could be easily used.
Scripts will run in a sandbox by a byte-code interpretator.
Each operation will require the same amount of NXT, if an account runs out of coins then interpretation is halted.
Scripts will be able to read block and transaction data in format-agnostic manner, they will also be able to "send" transaction. Such the transactions won't require to be signed, they will be able to spend money from the original account only.
Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

[intel]

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

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Because even stupid forks costs more with absolutely no background. NXT has features which you may not fully understand yet, but bitcoin is nothing against them.

[CIYAM]

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?

[marcus03]

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

Discuss.

Please announce the change and give devs at least 14 days to adopt their code. (This is the first time we would be forced to use decimal places after the comma...)

[intel]

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

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Dont also be confused with 10b cap, you 'll never get 10b when trying to sell all the NXT.

[kresu]

So where is the transparent ledger of all the NXT which existed before trading was possible?