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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756303 times)
mvag
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February 19, 2014, 07:39:09 AM
 #35281

Nxtopia bounty:

5000 -- jl777 (I think via community fund?)
1000 -- Pandaisftw
1000 -- MyZhre
1000 -- swartzfeger

+ 5000 from me
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February 19, 2014, 08:06:04 AM
Last edit: February 19, 2014, 08:50:19 AM by bitcoinpaul
 #35282

Donation reminder!

https://bitcointalk.org/index.php?topic=468258.0

ANY DONATION MADE UP TILL WE REACH 100,000 NXT WILL BE DOUBLED!!
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February 19, 2014, 08:06:10 AM
 #35283

Hi John Beltzer, founder and president of Songs of Love here. Just wanted to address your concern about us having other cryptocurrencies on our site. We are simply just trying to expand out funding resources and it's about trying to help as many kids as possible. We used to help 3,000 children a year before the economy crashed and we saw this as a way of trying to get funding from other innovative sources. When you state that kids will get enough personalised songs to get them through their illness that is simply not the case. Sadly there are so many kids who are diagnosed with serious illness so there is always need for more funding so we can hope to reach as many kids as possible. Nxt just happend to be clever enough to embrace us more fully and we are grateful for that and in the end there will be more publicity around Nxt than the other cryptocurrencies we accept. In fact we have even offered to make Nxt the presenting sponsor on what will effectively be the first ever children's charity fundraiser accepting crytocurrency at our Los Angeles event on March 8. Event page is at www.songsoflove.org/LA. We have some pretty cool acts one of which is Amandal Stenberg "Rue" from Hunger Games. Once we reach the 10K mark and we receive the donation we will make Nxt the presenting sponsor for the event. I feel Nxt and Songs of Love is a perfect fit as we embark a most amazing journey of love together.  

This is all well and good but I think we need to work towards a more global approach. What about the international charity UNICEF? Being aligned with them could do wonders for the NXT image. People will feel good about supporting not only a 'green' crypto, but one that contributes towards issues like child education, immunizations, water, sanitation, hygiene etc. We could start small with donating a water pump or payign for a teacher. Maybe I'm going over old ground here but thought I'd mention it. As much we need Bitcoin to succeed, it's a big energy hungry beast and that will turn a lot of people off.

NXT's focus should be on empowering people through economic freedom.

The majority of us come from developed countries.  Why are we concerned about feeding a child in a third world country?  There are enough starving children around us.  By providing people with economic freedom, you will allow them to improve their living conditions and take care of themselves.

Also, the majority of these charitable organizations are rampant with fraud and embezzlement.

+1

That's what WAS exciting about bitcoin in the first place.

I, too, think that NXT should offer the possibility for micro loans worldwide.


I would like to see Nxt's AE implement a social credit system.  This social credit system would allow people to issue micro loans and establish LETSystems in their communities.  LETSystems allow communities with no external capital or capital of their own to resurrect their own economy with an expanding/contracting credit system.

This idea is in-line with BCNext's vision of currencies built on top of Nxt.  I hope he would approve.

Nice!

POWER TO THE PEOPLE!

Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

 
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February 19, 2014, 08:10:41 AM
 #35284

well idk anything about graph theory but yes the length of the chains is irrelevant.

Okay, so now we have:

Consensus in NXT is found by looking for the branch that demonstrates the greatest stake participation without claiming to be from the future.

This is achieved by summing up the targets on each branch and the branch with the smallest total is the correct one.

Got it right?

No. U sum 1/target and want to get the highest value.

I see, that the min sum target not necessarily max sum 1/target.

But, why does that matter to NXT?
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February 19, 2014, 08:12:17 AM
 #35285

Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

Why not trusting the person himself?

If you want to help a person, lend him some money. If he is trustworthy, he will give it back to you.
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February 19, 2014, 08:14:23 AM
 #35286

Hey guys, how much NXT do I actually need to forge some blocks?

I currently have 10, yes ten, no not 10K, and it says that I can generate a block in 22429 days... Is this for real?  Huh

Thanks!

Even with 100k nxt you will not make any money forging so get that mentality out of your head from the start and welcome to the beginning of the rest of your life.

I've been trying to learn more about forging (transparent forging) and you raise the exact issue I am looking to resolve as a recent investor. You make it sound like 100,000 NXT is not enough to forge.

I am a miner at heart and like the idea of forging but the more I read about NXT, it seems that only the original stakeholders (or those with a huge number of NXT) are the ones who can successfully forge (gain/accumulate NXT)? How many NXT are needed to forge and what returns could one expect from say 500,000 NXT? Does the chance to forge change over time, i.e. what variables other than my account holdings and online status as a node affect forging success?

This issue has been difficult to get my head around as a recent adopter. I have not forged any NXT since opening my account (20,000 NXT) a few weeks ago and it sounds like from your response that this number is a laughing matter...I will never forge with that amount. Could some one provide some insight or a link to where forging and returns are discussed?



http://wiki.nxtcrypto.org/wiki/FAQ#Forging

with 100k you'll forge a block every couple of days - but NXT is not about forging


Thanks. I read the link and wonder if you could elaborate on your point that NXT is not about forging?

just as a clarification: when I used the word forging above I used it as a synonym for mining.

mining is basically used to secure the network - this is important. for bitcoin and the like it is essential and the incentives (= block rewards) designed to make people mine (we will see what happens when all coins are mined...)

now what's the fun in mining: you have hardware and software that you can tweak, monitor, run statistics, and you get happy when you mine a block or your pool mines a block. along the way the rewards diminish and you basically waste a lot of resources (power from the plug, stupid asics that turn worthless every couple of weeks, a lot of your time, ...). therefore you try to be the first to run the next generation of mining hardware which gets you over-average returns. this gives you another kick, because you're never sure if the gpu overheats, asic gets delivered on time, other manufacturers already did better, etc.
maybe you like mining for other reasons, but to me mining is because of the said things pretty stupid yesterday.

NXT uses forging to secure the network - important and needed, but what makes NXT stand out is not (at least imo) the fact, that the miners get a bit richer, it's the possibilities of the ecosystem. I'm sure that within a couple of months there will exist a coin on top of NXT that makes the miners more happy, this as a side note...
but what is really important: not that you receive more than you have when holding on to it or investing in new hardware. the goal is to have a working crypto ecosystem that let's you buy things securely and anonymously, that let's you exchange assets securely and easily, that let's you communicate with other without being monitored, that can be used as a base for other undertakings... and where the groundwork is not based on terawatts and terahashes - I'm not good with marketing stuff and this has been summarized better by others - but I hope you get my point.

At the current stage I believe that buying NXT will give you a lot in return, because it is still cheap and for the fun factor you miss from classical mining, you can visit this thread and watch the development of this little plant (or baby to borrow Anons word) to become a giant tree  Grin


Thanks for taking the time to elaborate...enlightening indeed!

Cheers

NXT-XFAH-7N9C-6AS6-B3GLZ                BTC: 1MMzqYNNqQMMhY524Z9ThuQrRQW2whCmGk
NHZ: 8709719431783299770                 QORA | 2ND GEN | NEW SOURCE CODE | Qi24ssRqmEo3Wepv9pgdmqNuTDKQByiEfd
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February 19, 2014, 08:16:06 AM
 #35287

Nxtopia bounty:

5000 -- jl777 (I think via community fund?)
1000 -- Pandaisftw
1000 -- MyZhre
1000 -- swartzfeger

+ 5000 from me

I think its a brilliant idea.. would like to help with idea and other stuff if I can..
Will this include being able to craft things and then sell them to gain NXT to buy other stuff in the game?

+2000 from me for now.

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February 19, 2014, 08:19:16 AM
 #35288

News about TaPoS: https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY/edit?pli=1

The author suggests a real penalty for accounts not mining within a year or so: they pay a fee.

Somehow, I like that.

Would be great if we could get this guy to help us with Nxt DAC.

I fear he has his own plan with BitShares.
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February 19, 2014, 08:22:48 AM
 #35289

Finally! a block has been forged!!!
Just is 1 NXT, but it's a start!

Thank you very much to all who continued to invest in this project.

The percentage of the forging is automatically assigned when the forge is confirmed. (~48 hours) please be patient!

Details: http://blocks.nxtcrypto.org/nxt/nxt.cgi?action=1000&blk=12664875317636265061
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February 19, 2014, 08:23:17 AM
 #35290

News about TaPoS: https://docs.google.com/document/d/1RLcjSXWuU9vBJzzqLEXVACSCdn8zXKTTJRN_LfoCjNY/edit?pli=1

The author suggests a real penalty for accounts not mining within a year or so: they pay a fee.

Somehow, I like that.

Would be great if we could get this guy to help us with Nxt DAC.

I fear he has his own plan with BitShares.

Penalizing people for not forging with their accounts is detrimental.  There are many reasons people don't forge with their accounts.

If you want to drive people away from Nxt, implement this.

 
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February 19, 2014, 08:23:48 AM
 #35291

Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

Not very hard.
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February 19, 2014, 08:26:05 AM
 #35292

Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

Why not trusting the person himself?

If you want to help a person, lend him some money. If he is trustworthy, he will give it back to you.

If you trust someone's account, you are trusting him.  The reason why this should be implemented via code in the AE is so the debt transference is automatic which allows for real-time accounting.

 
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pinarello
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February 19, 2014, 08:26:47 AM
 #35293

Unclaimed coins funds and committees...

Community,

Please apply for one of the committees created.

https://docs.google.com/spreadsheet/ccc?key=0AsrKGhOkVcFpdFRFeHNUdWx3Qy1nTjBPLUFNWUJKQkE&usp=sharing#gid=0

If there are more candidates than places we shall vote for the members.

Everyone has  to present his project before the projectboard (members of all committees) they will do a triage of projects and assign each project to the correct committee.

You find the projectboard here:
https://forums.nxtcrypto.org/viewtopic.php?f=54&t=809

Three committees will be created:

NXTinfrastructurefund (more hardware related, VPS, clients)
Discussing the projects assigned to this committee will be held here:

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=806


NXTmarketingfund
Discussing the projects assigned to this committee will be held here:

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=807


NXTtechfund (more code related)
Discussing the projects assigned to this committee will be held here:

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=808

Mean time we will moving away from BTT and use the official decentralized forum https://forums.nxtcrypto.org/

Remarks and suggestion welcome

Pin


active members please apply...


new project that want unclaimed coins go here...

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=809



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February 19, 2014, 08:31:15 AM
 #35294

Come-from-Beyond, how difficult would it be to add a feature to the asset exchange allowing accounts to trust other accounts for a certain asset up to a specific amount?  The system would have to be able to handle shifting debt balances.

Not very hard.

Great!

I believe only two new api calls would be required.  One api call to give trust and one api call to remove trust.

Can you please add these functions to the AE?

 
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February 19, 2014, 08:33:04 AM
 #35295

Unclaimed coins funds and committees...
...
Three committees will be created:

NXTinfrastructurefund (more hardware related, VPS, clients)
- I think it is no need in NXTinfrastructurefund, because we can not fund hardware in order to keep Nxt network. That would be a centralisation.

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, the Next platform.  Magis quam Moneta (More than a Coin)
mikesbmw
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February 19, 2014, 08:36:19 AM
 #35296

Excellent, with a 29,500 NXT sale on DGEX I have helped us to cross the 500,000,000 NXT mark on DGEX alone! =D

We have traded far more than half of the entire currency in the past few months. Well done everyone!
Wow! And that's DGEX alone?
If you add the numbers for Vircurex and Bter that's even a more impressive amount!

NXT: Next Generation of Cryptocurrency http://nxtcrypto.org
NEM:New Economy Movement http://www.ournem.com/
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February 19, 2014, 08:38:04 AM
 #35297


Count me in, but we need a place to discuss the game and ideas about it Smiley IRC channel?

Yes, IRC, reddit, free php board... somewhere we won't piss off the normal people here. Smiley

edit: I created Nxtopia over at irc.foonetic.net.

Will Nxtopia be a mobile app?

We discussed this a little in the IRC. Uniqueorn brought up a good point that it may be hard to convince either apple or google to allow an app that does payments that don't go through their payment system. But the plan is to make the game light enough that a smartphone can run it.

Nxtopia bounty:

5000 -- jl777 (I think via community fund?)
1000 -- Pandaisftw
1000 -- MyZhre
1000 -- swartzfeger

+ 5000 from me

I think its a brilliant idea.. would like to help with idea and other stuff if I can..
Will this include being able to craft things and then sell them to gain NXT to buy other stuff in the game?

+2000 from me for now.

I'm thinking about having items be represented by assets, thus they can be traded freely outside of the game. So yes, you can sell your super-rare asset for NXT, or vice versa. The game will have it's own in-game currency, which will be exchangeable for NXT anyways, but at least it will buffer rapid price movements (plus we can do things like modify the rate of supply of the in-game currency which we cannot do with NXT directly) - I will have to think about this more, however.

NXT: 13095091276527367030
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February 19, 2014, 08:38:21 AM
 #35298

Can someone help with this:
http://www.reddit.com/r/NXT/comments/1ybcsk/strange_activity_in_the_network/

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February 19, 2014, 08:40:44 AM
 #35299

I believe only two new api calls would be required.  One api call to give trust and one api call to remove trust.
- very strange idea about the trust in the decentralised anonimous network...

Trust noone - this is a very important principle. Nxt doesn't rely on trust ...

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, the Next platform.  Magis quam Moneta (More than a Coin)
pinarello
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February 19, 2014, 08:41:13 AM
 #35300

Unclaimed coins funds and committees...
...
Three committees will be created:

NXTinfrastructurefund (more hardware related, VPS, clients)
- I think it is no need in NXTinfrastructurefund, because we can not fund hardware in order to keep Nxt network. That would be a centralisation.

I think more about VPS or infra for 1000TPS

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