NXT :: descendant of Bitcoin - Updated Information

[zorke]

I decided to use my right not to follow BCNext's orders that I don't like (it's allowed by the contract).

I think we should sort out important things like TF, discuss BCNext's ideas and then decide if we want to implement them (Account Control particularly). No need to stick to the plan, IMHO. I'll wait for the 3rd (last) part.

Welcome back CFB!
What I don't understand is how are you just going to leave in April. I mean after all this (NXT) is your baby. You are here from day one. When we I see NXT I see CFB and BCNext beside. You guys don't get me wrong, this is a community project and all of the people did contribute to it but I am sure you all know what I mean when I say that.

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[bitcoinpaul]

I decided to use my right not to follow BCNext's orders that I don't like (it's allowed by the contract).

I think we should sort out important things like TF, discuss BCNext's ideas and then decide if we want to implement them (Account Control particularly). No need to stick to the plan, IMHO. I'll wait for the 3rd (last) part.

- You don't follow BCNext's orders without knowing part 3 of the plan
- Thus you don't know if the orders you were given have a higher purpose
-> You should stay after the revealing of the 3rd part

Community pays you.

[Emule]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

It got not MUCH better, but better indeed!

yeah right this does not count sockpupets and split up accounts.

whales devided the 50M over three or four accounts

what you try to proof here?

[Jerical13]

Find a solution for SR users and you will see Nxt gain 10x value.  

Isn't this NXTcash ?;P

There are mixing services for BTC, what I'm referring to is a complete transaction solution all within a Nxt client.  No need to access Tor, login to site, have funds in escrow, etc..  This would be accomplished with a decentralized market accessed via Nxt client, funds placed into escrow via AT, funds released, feedback left via AM reputation system, and so on, all done within client.  The only reason to target SR users is that they are the only mass marketplace audience familiar with crypto and ready for a solution.

We don't necessarily need to duplicate the SR model, we just have to find something that is equally useful. I would try a simpler design, where the buyer contacts the seller directly using encrypted messages. Information about reputable sellers is already discussed on the forums, so there is no need to publically announce who sells what.

1. Buyer sends message to query available products. Seller responds.
2. Buyer sends coins, name of product and physical address
3. Seller responds with order rejected or accepted.

I agree that having secure ways of mixing coins is not necessary, because there are already mixers for Bitcoin.

The question of having a reputation system and escrow is more tricky. I'm not sure that having a traditional feedback and escrow system is the best solution. Discussions on the forums already work as a kind of a reputation system.

Having a user-friedly client for this would be important.


EDIT: The seller-side software would run continuously on the seller's computer, keep track of the inventory and automatically respond to the buyers' queries.
 

Why not promote private business in this area? I am sure that there would be a traditional escrow /security service that would be interested in being the first provider for services to the Crypto market. It should be kind of an easy service extension to make for an already established business; low cost to implement.

[Emule]

I decided to use my right not to follow BCNext's orders that I don't like (it's allowed by the contract).

I think we should sort out important things like TF, discuss BCNext's ideas and then decide if we want to implement them (Account Control particularly). No need to stick to the plan, IMHO. I'll wait for the 3rd (last) part.

- You don't follow BCNext's orders without knowing part 3 of the plan
- Thus you don't know if the orders you were given have a higher purpose
-> You should stay after the revealing of the 3rd part

Community pays you.

paying with what? peanuts?

unclaimed coins are gone and whales surtenly will not donate any more nxt is dead.

[TwinWinNerD]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

It got not MUCH better, but better indeed!

yeah right this does not count sockpupets and split up accounts.

whales devided the 50M over three or four accounts

what you try to proof here?

none of those accounts split its balance. You can look that up in the blockchain. Also i am not even saying that the distribution is at a good stage at this moment. One reason for this is the fact that our price is too stable. If we rise to 0.0001 or 0.00004 we would get a better distribution right away.

[Damelon]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

i can tell you they are selling like crazy.

now they sell slowly not to trigger panic
one problem...

when panic starts and they all running to the exit.. that door will be way to smal. to bad for the bagholders DISASTER!

imagine sell off millions and millions in few minuts aaaaand its gone.

this will unfold within one week

look for price nxt 0.000000000

[Emule]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

It got not MUCH better, but better indeed!

sorry fellows only 60 people will get rich rest are bagholders. whales holding price at 0.00007 till sell off starts and they aal look for the exit, but it will be to small

[bidji29]

I think the graph would be more representative if you don't count the exchange adresses

[igmaca]

 

needs a content:

 

Here I propose a ternary paradox, that the natures of decentralization, security and environment protection constitute an impossible trinity. (Graph 2) A crypto-currency which is both environmentally-friendly and secured would definitely need to be centralized, like PPcoin, Nextcoin and Ripple. These coins either contain aspects of centralized structure, or their decentralized structure is not sustainable, with a Paypal-like centralized verification mechanism. A crypto-currency which is both environmentally-friendly and decentralized would be unsecured, like P2P currencies of ‘one-IP-address-one-vote,’ which are already excluded by Satoshi. He believed that if the majority were based on ‘one-IP-address-one-vote,’ it could be subverted by anyone able to allocate many IPs.5 If one designs a secured decentralized currency, it must come with the cost of consuming energy and calculation power. PoW is the first solution to construct a verification system in the form of decentralization, and will probably be the only one.

http://cryptocoinupdates.com/the-impossible-trinity-security-environment-protection-and-decentralization/

with share fee pools this not occurs.

share fee group (share fee pool or share fee Hubs) and limiting forging power of an account to 1.000.000 Nxt coin maximum . this means 1.000 nodes to ensure minimum network

Extremely decentralized network (in the exemple 30.000 Nodes) and therefore very secure network
Small accounts motivated to participate in forging (In the exemple 100 Nxt account is forging every day not every 10 year)
rich and poor have the same chance to forge because everybody forge everyday!!!!

I really like this idea because your node still has to be online to be part of the shared group.
It retains the decentralisation and number of nodes.
Forging is a bit like bingo/lottery anyway rather than mining and it smooths out the impact of penalty and people pool hopping if the pool was based on a single node...
So generally in stead of buying a single big ticket you are offering to share your ticket and any winnings with lots of others and vice versa
Penalties would only affect the nodes in the shared pool an would not take huge chunks of NXT out of the forging balance in one go by taking a whole pool out.
Logged

[TwinWinNerD]

I think the graph would be more representative if you don't count the exchange adresses

look at the right collom. There is the top 60 without exchange accounts!

[TwinWinNerD]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

[msin]

I didn't understand what buyer/seller verified means.

What I mean is that when you are leaving feedback via AM, you will be required to enter a Tx id, where the sender (buyer's) account must match your account # and the receiving account must match the account where you are sending the feedback AM (the sellers account).  If those match up, the feedback is sent via AM.

I'm wondering if escrow/reputation is the best model for the SR type use case, and if there could be an alternative model.
Would the names of products and quantities sold be publicly available on the blockchain? Somehow I think this will draw unwanted attention.

Nothing would show up on the blockchain except the amounts of Nxt and the public feedback, all other messages would be encrypted.

How would disputes be resolved?  Outsiders can't know if the seller has sent the product. Either the seller or buyer can try to scam.

With Escrow AT, you would send your Nxt to seller via AT, at which point the Nxt is committed and you have two choices, release the funds to the seller or release the funds to the genesis block or charity (whereas neither party would benefit).  You wouldn't have the choice to get them back and the seller wouldn't have incentive to scam you since the funds would go elsewhere if you don't get your product.

Seller can sell to himself and give good feedback.

Yes, but they would have to go through the trouble of sending Nxt, leaving feedback, and it would all be traceable, and there would be no purpose with Escrow AT.

[Asian Prepper]

It will get better :-)

Tai Zen

You're doing great! Nxt has a lot to thank to you! 

thanks! lol

[msin]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

[TwinWinNerD]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

[zorke]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

It got not MUCH better, but better indeed!

Thanks,

Well 3% is not that bad and the price is the same as it was on January 26th. That means that we are doing something right here however. I mean it is a long way and our IPO distribution was far from perfect but we will get there. However it will be a slow and long process.

[igmaca]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

better this

share fee group (share fee pool or share fee Hubs) and limiting forging power of an account to 1.000.000 Nxt coin maximum . this means 1.000 nodes to ensure minimum network

Extremely decentralized network (in the exemple 30.000 Nodes) and therefore very secure network
Small accounts motivated to participate in forging (In the exemple 100 Nxt account is forging every day not every 10 year)
rich and poor have the same chance to forge because everybody forge everyday!!!!

I really like this idea because your node still has to be online to be part of the shared group.
It retains the decentralisation and number of nodes.
Forging is a bit like bingo/lottery anyway rather than mining and it smooths out the impact of penalty and people pool hopping if the pool was based on a single node...
So generally in stead of buying a single big ticket you are offering to share your ticket and any winnings with lots of others and vice versa
Penalties would only affect the nodes in the shared pool an would not take huge chunks of NXT out of the forging balance in one go by taking a whole pool out.
Logged

[msin]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

Yeah, perhaps it could be programmed into Nxt to decrease with block height, eventually reaching 1Nxt.  I would love to see a guy with 1Nxt have the ability to forge a large block.

[Meizirkki]

Is it safe to use weshleys awesome interface in the main net?

EDIT: More importantly, with a real account.