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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755948 times)
igmaca
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March 18, 2014, 10:35:47 PM
Last edit: March 19, 2014, 11:03:58 AM by igmaca
 #45881


Yes of course some services like AM it can indexed per bytes but other
can be indexed per amount transacted

all AE like  Cryptsy, BTC, Bitstamp use % amount transacted
We're going to reinvent the wheel?
why not?

what this clear that will be a lot more economical to maintain than BTC network or clones

NXT AE, is, by definition, 'reinventing the wheel'.  You have to have a better reason than, 'thats the way its always been done'.  The other argument is basing everything on size in the blockchain.  Please argue your reason of % based with its own merits, or argue reasons against our suggestion.

an issue is how the fee is charged

must be distributed the cost of maintaining stimulated the "green, secure and decentralized network"

for example

Nxt% Fee per current transactions
Alias ​​Fee services (For example per bytes)
Nxt% Fee per AE transactions

and so on ....

How The network is worth to maintain?

How many minimum nodes are needed?
How much electricity does it cost?
How many minimum transactions contemplated

with this you can calculate total nxt minimum expected

and another issue is how the fee is partitioned

Quote
a transactions's fee should be tied to its byte size on the blockchain

ok its a posible solution but

you need to do this minimum operation

Total number of bytes expected divided by total nxt minimum expected by fees

then you can know nxt per byte aplicable

I do not know if this solution is the best but it can probably work. sharing may be quite right
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L5Society
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March 18, 2014, 10:38:15 PM
 #45882



And I think there is still a place for juice, just can be whittled down to fair market value.



I think it would be really cool to have juice-less betting on the nxtwork. Would be harder to prosecute as illegal gambling in some countries, since you wouldn't take a profit. And all stakeholders would benefit from the increased traffic and fees.
intmain()
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March 18, 2014, 10:41:03 PM
 #45883

Nxt Facebook

That's what I'm working on  Smiley!
ChuckOne
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March 18, 2014, 10:42:17 PM
 #45884

Sorry, I don't see what kind of secrets you would need to exchange with a website?

In case of CCT, in order to do a transaction, one trader reveals a secret that is necessary for another trader to do another transaction and so on.

Yea, I keep getting stuck on the trust part. Makes me want to start a website that just has scores, and hopefully the reputation system would show that I'm trustworthy. But, I live in the US, where I'd probably get prosecuted for operating an illegal betting service.

The regulatory thing is a matter on its own. I think NXT should teach people here, too. Especially regarding asset exchange. It is like betting.

The trust issue cannot completely solved when the real world is involved. If does not function cryptographically verifiably. Wink

For instance: that website would publish secret 1 if the game turns to be lost or it would reveal secret 2 otherwise. Regarding the revealed secret the winner can redeem his wager.

But the website must be trustworthy not to reveal the other secret.

Maybe coins are issued to each bettor, and can only be exchanged if they are winners? (this is a half-baked idea)

Maybe.
ChuckOne
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March 18, 2014, 10:42:48 PM
 #45885

Nxt Facebook

That's what I'm working on  Smiley!

You are kidding.
intmain()
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March 18, 2014, 10:47:23 PM
 #45886

You are kidding.

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

Several thousand lines of Java will need to be approved and added, it wont interfere with the blockchain though.
ChuckOne
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March 18, 2014, 10:48:39 PM
 #45887

You are kidding.

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

If that is so, I would like to see a plugin for the wesleyh client.
DrearyUrbanite
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March 18, 2014, 10:49:24 PM
 #45888

Time to buy more ?

If NXT is less than $.10 it is still time to buy  Smiley


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L5Society
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March 18, 2014, 10:49:38 PM
 #45889

@chuckone

Thanks for the explanation. I wish AE was out of alpha so that I could work on betting for this year's March Madness. Alas, maybe next year.
L5Society
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March 18, 2014, 10:51:54 PM
 #45890

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

So you have to pay 1 nxt to send a message or friend somebody?
brooklynbtc
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March 18, 2014, 10:54:02 PM
 #45891



And I think there is still a place for juice, just can be whittled down to fair market value.



I think it would be really cool to have juice-less betting on the nxtwork. Would be harder to prosecute as illegal gambling in some countries, since you wouldn't take a profit. And all stakeholders would benefit from the increased traffic and fees.

Someone needs to set this up, and that costs money. For their work they deserve the juice.

Also, if this is running solely as a gateway, exchanging two assets for a going rate (odds) is pretty much invisible, although not untraceable.
Imagine if AE issuance escapes the spam problem and the fees drop to nothing, you could issue an ASSET for
a team for one game, with any random name. people could buy and sell their bets from zerocash mixed coins.

no one would have a clue.

SN
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ChuckOne
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March 18, 2014, 10:54:05 PM
 #45892

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

So you have to pay 1 nxt to send a message or friend somebody?

Yep. But, one could bundle several messages into one AM. Wink
brooklynbtc
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March 18, 2014, 10:56:01 PM
 #45893

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

So you have to pay 1 nxt to send a message or friend somebody?

Yep. But, one could bundle several messages into one AM. Wink

and the fees are planning on dropping to .01

right? i keep reading this.

SN
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intmain()
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March 18, 2014, 10:56:19 PM
 #45894

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

So you have to pay 1 nxt to send a message or friend somebody?

By design messages are not sent on the blockchain as AM's to avoid bloating (in the implementation I'm designing).
rdanneskjoldr
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March 18, 2014, 10:58:38 PM
 #45895

Nxt Facebook

That's what I'm working on  Smiley!

Every action would require a fee??
ChuckOne
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March 18, 2014, 11:05:26 PM
 #45896

@chuckone

Thanks for the explanation. I wish AE was out of alpha so that I could work on betting for this year's March Madness. Alas, maybe next year.

Donations are welcome. Cheesy Just kidding.
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March 18, 2014, 11:07:19 PM
 #45897

Nope, I have mostly completed the messenger and friend functions, they both piggyback onto the block-chain in a really lightweight manner.

So you have to pay 1 nxt to send a message or friend somebody?

Yep. But, one could bundle several messages into one AM. Wink

and the fees are planning on dropping to .01

right? i keep reading this.

Correct. Smiley

Nxt Facebook

That's what I'm working on  Smiley!

I keep thinking "Diaspora".
What makes your project different?

Member of the Nxt Foundation | Donations: NXT-D6K7-MLY6-98FM-FLL5T
Join Nxt Slack! https://nxtchat.herokuapp.com/
Founder of Blockchain Workspace | Personal Site & Blog
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March 18, 2014, 11:09:53 PM
 #45898

If my PC is compromised, attacker could simply activate sniffing soft on it and just wait for me to issue an asset... couldn't it be done via https?

Wesleyh's client, once it is included with the Nxt software, is intending to implement the client-side Javascript Curve25519 library.  This will allow the server (even on your localhost) to return RAW transaction data to you, which your web browser can sign with your private key LOCALLY.  The signed transaction is then broadcast by the server.

In that scenario, risk is minimized.  There is, however, no universal fix for dealing with a compromised computer (where malware is capturing keystrokes or clipboard data).

Even more simply: you can always enable https in your nxt/conf/nxt.properties file.  You can see the settings here: http://wiki.nxtcrypto.org/wiki/Nxt-default_properties_configuration_file .  To do this, create a file called nxt.properties in nxt/conf, and copy the updated settings you want to that file from nxt/conf/nxt-default.properties.

I admin the Nxt Wiki at http://wiki.nxtcrypto.org/ Please support my work by donating to Nxt account #1234567740944417915
ChuckOne
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March 18, 2014, 11:13:11 PM
 #45899

If my PC is compromised, attacker could simply activate sniffing soft on it and just wait for me to issue an asset... couldn't it be done via https?

Wesleyh's client, once it is included with the Nxt software, is intending to implement the client-side Javascript Curve25519 library.  This will allow the server (even on your localhost) to return RAW transaction data to you, which your web browser can sign with your private key LOCALLY.  The signed transaction is then broadcast by the server.

In that scenario, risk is minimized.  There is, however, no universal fix for dealing with a compromised computer (where malware is capturing keystrokes or clipboard data).

Even more simply: you can always enable https in your nxt/conf/nxt.properties file.  You can see the settings here: http://wiki.nxtcrypto.org/wiki/Nxt-default_properties_configuration_file .  To do this, create a file called nxt.properties in nxt/conf, and copy the updated settings you want to that file from nxt/conf/nxt-default.properties.

I still do not get why the client does not create a raw transaction on his own completely.
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March 18, 2014, 11:15:10 PM
 #45900


Someone needs to set this up, and that costs money. For their work they deserve the juice.


Yes, but, to a regular joe, what's the difference between nxt betting and Las Vegas? Or some offshore online casino? The juice. I've talked to so many gamblers that I thought were stupid, but had a very solid understanding of how the juice impacts their bottom line. Lots of gamblers think they can make the correct choice 50.0001% of the time. Most know that they cant make the correct choice 52% or 56% or whatever it is that you need to beat the juice (which is commonly 5% or 10%). Presenting a juice-less betting service would draw new users by the thousands.

A nxt holder would see the price go to the moon in such a situation. The person that sets it up just needs to be a stakeholder (or buy in before setting it up) to get paid.
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