NXT :: descendant of Bitcoin - Updated Information

[Damelon]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: NXT ASSET EXCHANGE on testNET LIVE! EASY Client included! Ask for testNXT!"

I think nobody knows that our Asset Exchange is working in TestNet?!? Announce it! Mastercoin Exchange will die, I'm sure...

I'd be happy to make a thread for AE.

What needs to be clear for everyone?

I think just this, isn't it?

Wesley's client: http://nxtra.org/nxt-client/

Where can they ask for TestNxt? In the [ANN] thread? Who will give those out?

Please let me know and I'll make one. Won't have time to monitor it today, though, so some people should step in, too

if you send a good chunk of test nxt to me i can dish it out for a few hours! il monitor the [ANN] thread and watch out for any questions. if they are techy ones il just post the link to them here and someone else can step in on that side

I have 1,000,000 TestNxt.
I want to send it out to two people, so we have two people looking at it.
Then I will make the thread and we can GO!
Please give me your Test account number and I'll send you 500,000 TestNxt

[1713993205]

1713993205

[1713993205]

1713993205

[rlh]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

[wesleyh]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: First PoW Coin on Top of NXT testNET! Just run a NXT node and earn nodecoins! Trade them on Asset Exchange!"


Fuck! Why is none doing this???

My english is to bad for doing things like that

NOT NOW, TESTNET IS DOWN

[landomata]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: First PoW Coin on Top of NXT in testNET! Just run a NXT node and earn nodecoins! Trade them on Asset Exchange!"


Fuck! Why is none doing this???

My english is to bad for doing things like that

Better just to do Asset Exchange TESTnet ANN today to so gain spotlight cuz mastercoin distributed exchange launches in few hours.

[mcjavar]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

Holy fuck! I love this idea! What do wo need to make this reality?

[DrearyUrbanite]

To those of you who have gone negative and dumped your NXT: I was able to pick up much more this payday than I expected and I am that much closer to my goal because of it. I believe you will regret it in the future but I thank you.

[rlh]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

Holy fuck! I love this idea! What do wo need to make this reality?

Someone to do it.  I work full time and I am experienced enough to know that this type of project takes time to do right.  I've worked with the client code but I have 0-experience working on a pool (plus I'm not a web developer.)

So, what we need is a motivated pool manager to do this.  I wish it were me, but it's not.  This is why I'm willing to start a bounty.  However, I won't be able to get that going until a little bit later today.

[gck]

Woah, what an interesting 24 hours. Every time I think I understand, I get a bit more confused.

First, James, great work. Regardless of where this all goes, your ability to innovate at the speed you do is undeniable. You are a great asset to the Nxt community.

I am not for or against Nodecoin at this point so I will simply hold my opinion until I am better educated.

However, now for the bigger questions, and this is not just in relation to Nodecoin but to all other coins planned in the future on top of Nxt. If we react to Nodecoin in this manner, I fear what the next weeks will be regarding additional assets and and/or coins. I hope we are able to come to a consensus as soon as possible and allow innovation to flourish.

So, if I am mistaken in my understanding, please correct me.

The purpose of Nodecoin is to encourage network participation?

Nodecoin is rewarded to those that run a node and is redeemable for Nxt?
My question regarding this is, "Where do they redeem them?". Is the scenario something like this.
I am a new comer to Nxt, I have 0 Nxt and no funds to purchase. So, I decide I want to run Nodeminer in hopes of redeeming Nodecoins for Nxt. I run Nodeminer for a specified amount of time and at any time I have accumulated a certain amount I can then redeem for Nxt (and/or use in other services).

My question is, where do the Nxt to redeem actually come from?

Additionally, is Nodecoin redeemable for any other currency? Or is Nxt the only reward? Obviouslly, in a round about way, other coins could be converted to Nxt and then used for the reward.

Is it intended that users that already have Nxt, pre-buy Nodecoins shares to support the Network. Therefore in a sense, outsourcing part of our network participation?

This is my question as well.  Instead of using nodecoin as the sole incentive for running a node...why not let the OTHER assets on NXT be the reward?  You could reward people small amounts of any coin (or asset) they desire from the trading fees (small amounts...say 0.00000010 or less).  Someone with a large stake in NXT could get slightly higher amounts.  That way even someone that has just 1NXT...gets something for being an active node.  That would give one hell of an incentive to get into NXT.  Everyone becomes there own micro exchange.

Am I completely off base here?

[Damelon]

To those of you who have gone negative and dumped your NXT: I was able to pick up much more this payday than I expected and I am that much closer to my goal because of it. I believe you will regret it in the future but I thank you.

They were basically two whales
They have enough left ánd you are happy!

Win-win

[mcjavar]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

Holy fuck! I love this idea! What do wo need to make this reality?

Someone to do it.  I work full time and I am experienced enough to know that this type of project takes time to do right.  I've worked with the client code but I have 0-experience working on a pool (plus I'm not a web developer.)

So, what we need is a motivated pool manager to do this.  I wish it were me, but it's not.  This is why I'm willing to start a bounty.  However, I won't be able to get that going until a little bit later today.

I would invest 20k Nxt in this. The return would come from the pool fee.
What do you think about this business model?

[bitcoinpaul]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

Holy fuck! I love this idea! What do wo need to make this reality?

Sounds good.

[bitcoinpaul]

i think stick with the web client! wait until testnet is back up if we have to.. better to give ppl a link.. no download ect.. its just easier for people to do!

+1

[bitcoinpaul]

And let the pool miners run Nxt in the background.

[bidji29]

some testNXt please : 4891842774218925776

[Touque]

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

I proposed an option for "mining" Nxt.  Technically, this isn't mining, but if someone were to do this, we could all use our SHA-256/Scrypt hashing power to acquire Nxt.

I first posted this over at the Nextcoin.org forum (see here).  Please join the discussion and if anyone who reads this knows of an experienced pool admin who might be interested, please refer them to this topic.

The really cool thing about this approach is that people will most-likely not mine Nxt to dump it.  They will mine Nxt and the process will pump it, rather than suppress value!

Practically any way you look at this approach is a benefit!

Interesting idea. FYI - here is his idea on nextcoin.org:

-----------------
The idea is simple.  We could setup a SHA-256 & Scrypt mining pool.  The pool can use the coinwarz API to determine which coin is currently most profitable and it could mine the most profitable coin at the moment.  HOWEVER, instead of distributing these coins directly to the miners, the pool forwards all mining rewards to an exchange, dumps the coins, buys up Nxt with the profits and then re-distributes the Nxt to the miners.

So, although direct Nxt "mining" may not be possible, a mining pool for this purpose could help the entire community by providing an easy way for people to obtain some Nxt (even if the amounts are small) PLUS this should have a net-positive affect on the price of Nxt because the pool will be dumping other altcoins, and buying up Nxt.

So, does anyone know someone who could make this possibly happen?  Seriously, I think this could be a great idea.  I'd do it myself, but I don't have the time plus I've never managed a pool.  If we have any former (or current) pool managers, this could be awesome!

-----------------------

[Damelon]

Ehmm, the whole testnet is down???

I run a my node on testnet, it not down, just your webservice?

Well lets give them the windows client with your latest client build in?

dont think that is a good idea. i think stick with the web client! wait until testnet is back up if we have to.. better to give ppl a link.. no download ect.. its just easier for people to do!

I will be away from computers till late tonight.
Leaving in 45 minutes.

So if it's up earlier, someone else can set up the thread maybe?
I can dish out TestNxt when I get home tonight to a few people so we can hand out stakes to testers.

OR: we can wait with the thread till I get home and start it then.

I think we want to be sure that it will be able to handle anything BCT users can throw at it anyway

Your call

[wesleyh]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: First PoW Coin on Top of NXT testNET! Just run a NXT node and earn nodecoins! Trade them on Asset Exchange!"


Fuck! Why is none doing this???

My english is to bad for doing things like that

NOT NOW, TESTNET IS DOWN

argh!  

Ehmm, the whole testnet is down???

I run a my node on testnet, it not down, just your webservice?

Well lets give them the windows client with your latest client build in?

More accurately testnet is STUCK. See last block date time.

[igmaca]

Woah, what an interesting 24 hours. Every time I think I understand, I get a bit more confused.

First, James, great work. Regardless of where this all goes, your ability to innovate at the speed you do is undeniable. You are a great asset to the Nxt community.

I am not for or against Nodecoin at this point so I will simply hold my opinion until I am better educated.

However, now for the bigger questions, and this is not just in relation to Nodecoin but to all other coins planned in the future on top of Nxt. If we react to Nodecoin in this manner, I fear what the next weeks will be regarding additional assets and and/or coins. I hope we are able to come to a consensus as soon as possible and allow innovation to flourish.

So, if I am mistaken in my understanding, please correct me.

The purpose of Nodecoin is to encourage network participation?

Nodecoin is rewarded to those that run a node and is redeemable for Nxt?
My question regarding this is, "Where do they redeem them?". Is the scenario something like this.
I am a new comer to Nxt, I have 0 Nxt and no funds to purchase. So, I decide I want to run Nodeminer in hopes of redeeming Nodecoins for Nxt. I run Nodeminer for a specified amount of time and at any time I have accumulated a certain amount I can then redeem for Nxt (and/or use in other services).

My question is, where do the Nxt to redeem actually come from?

Additionally, is Nodecoin redeemable for any other currency? Or is Nxt the only reward? Obviouslly, in a round about way, other coins could be converted to Nxt and then used for the reward.

Is it intended that users that already have Nxt, pre-buy Nodecoins shares to support the Network. Therefore in a sense, outsourcing part of our network participation?

This is my question as well.  Instead of using nodecoin as the sole incentive for running a node...why not let the OTHER assets on NXT be the reward?  You could reward people small amounts of any coin (or asset) they desire from the trading fees (small amounts...say 0.00000010 or less).  Someone with a large stake in NXT could get slightly higher amounts.  That way even someone that has just 1NXT...gets something for being an active node.  That would give one hell of an incentive to get into NXT.  Everyone becomes there own micro exchange.

Am I completely off base here?

of course!

this is the solution. AE NXT exchange charges a small fee for each transaction and distributes
the fee to the active nodes

[ebereon]

NOT NOW, TESTNET IS DOWN

wesleyh, when is it up again?

[wesleyh]

NOT NOW, TESTNET IS DOWN

wesleyh, when is it up again?

It's a bug, it needs to be fixed. Need new version of NRS most likely.