NXT :: descendant of Bitcoin - Updated Information

[IveBeenBit]

Bye for now, back in a week (give or take). Maybe I will check in, maybe I wont.

A week? Now you guys have done it. James is going on a bender. 

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[alxx77]

So, simply said, all trading in AE is ALLWAYS in NXT; if you trade asset <-> asset you are actually settling off-AE

Yes - although with an appropriate AT set up for it the experience would actually be that you send Assets to the AT and then it sends you back the Asset being traded (so you send say Microsoft and get back Google).

Part of AT creation would include providing the appropriate "ratio" of such cross-trades as well as "limits".

Yep, having in mind that AT also must go either through NXT or through trusted asset...

[Passion_ltc]

Just a few more days until I come back. Is there anyone willing to pay the money for NXT.org?


I canceled 7 domains regarding the Nxt-Ecosystem. After I come back I will concentrate on quality work. Because this is what Nxt needs right now. So please respond to the question above.

I may. What is the situation with nxt.org? Please explain.

PM'ed you. I will come back online occasionally.

[MadCow]

The problem is that if the community rejects what I am doing, then some parts of what I am doing wont work. For example, I think there is a way to create a NXT network health indicator. nodeminer already is gathering most of the raw data that is needed.

....

I want a poll, but not sure how to set one up.

James

James, it sounds like you need to convince Jean-Luc and CfB of your plan. Those guys don't operate through this thread in a big way, so why not go straight to them and see what they say? If they agree cool! If they are unsure then maybe a vote. Either way, try and avoid the need to tackle every counter argument against your ideas here on your own. There is an element of 'politics' going on, but my feeling is most agree with your mission statement - "To make NXT the platform upon which all of crypto goes mainstream"

Actually, now that AT will support AM and Asset operations, I can do everything on top of NXT core myself as long as 10% of NXTers participate.

Nobody can stop me now

mwahahahaha!

did I do that right?

NXT platform is coming. It cannot be stopped. Just gotta prepare for it.

James

That's great James! Have a good week, then come back and 'do your thing'.

Oh, and I think the correct megalomaniac laugh is 'MUAHAHAHAHA'

[landomata]

As long as I am able to do it, I dont really care the exact method.
I didnt realize AT would be able to do asset operations, all I saw was send money
will also be able to write AM?

Yes - my use cases already include AMs and it should be straight forward for an AT to deal with Assets.

What are the implications of this?

[Eadeqa]

But you mentioned something like client-side-verification at http://nxtra.org/nxt-client-trustless/ . Is that also possible for tipNXT.com (not working right now, because I don't have a server for the client)?

Yes it would be client side in  javascript.  It would be safe.

What if someone hack the server and change the code. Is it possible to create a hash or checksum (with php and crojobs!) of the critical .php files and upload them somewhere on an external site?

This has nothing to with server side as nothing critical is sent to the server (no password no  private key).  Well, that's not entirely true, since if the server is hacked, the attacker could alter the javascript code that runs on client browser.    That's the reason, by the way, I suggested that wesleh should make his client an app in chrome/firefox store. It will be safer that way from compromised server where the attacker alters javascript.  

[BrianNowhere]

I feel that NXT as a community is at a decision point. Do we want to wage war against bitcoin for supremacy in payments and become the crypto version of paypal or do we want to become a platform that will enable transformation of the world to an economy that is significantly crypto based.
James

The answer should be both.

OK, you go take on the bitcoin guys. Let me know how it works out. I'm off doing the platform thing

Bye for now, back in a week (give or take). Maybe I will check in, maybe I wont.

Gnite

Bitcoin is going to die a natural death along with every other mined digital currency. There's not enough new blood to keep up with the miners and sooner or later an energy crises will shine a spotlight on how wasteful it is.

There needs to be a greener digital currency to take it's place. That doesn't mean you can't also have Nxt be a thriving ecosystem, which I agree should offer cross-crypto trading. If you can figure out how to do trustless cross-crypto trading which I can imagine being possible with multi-sig (made as easy to use as possible) you'll have achieved something even ripple doesn't do. Peer to Peer decentralized Exchange.

Nxt will still have to compete for dominance within the system but it will have a huge advantage in doing so if Nxt becomes the de-facto ecosystem to exchange assets, cryptos, commodities and real world currencies in.  

If Etherium becomes the main ecosystem, ETHER will probably become the reserve. If It's Ripple it will be XRP.

Think of Nxt being like the cigarettes in a prison. People can trade cookies for soap, which requires one hungry prisoner and one dirty prisoner. However EVERYONE accepts cigarettes, even non-smokers because cigarettes can get you anything.

NXT should be cigarettes and NXT should also be the prison.

[CryptKeeper]

If you are new to Nxt and don't want to read through 2420 pages of posts, come to the wiki, parts of
Wiki contributors help to pull information from these threads every day to keep the wiki up to date. You can help too!! contribute, or translate.

I'm in!

[Passion_ltc]

But you mentioned something like client-side-verification at http://nxtra.org/nxt-client-trustless/ . Is that also possible for tipNXT.com (not working right now, because I don't have a server for the client)?

Yes it would be client side in  javascript.  It would be safe.

Thanks.

What if someone hack the server and change the code. Is it possible to create a hash or checksum (with php and crojobs!) of the critical .php files and upload them somewhere on an external site?

This has nothing to with server side as nothing critical is sent to the server (no password no  private key).  Well, that's not entirely true, since if the server is hacked, the attacker could alter the javascript code that runs on client browser.    That's the reason, by the way, I suggested that wesleh should make his client an app in chrome/firefox store. It will be safer that way from compromised server where the attacker alters javascript. 

Yes, I mean exactly that. The hacker could simply change the code.


Wesleys client as an iOS app would be fantastic!!

[L5Society]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

[BitcoinForumator]

James, please listen to windjc. Just do your 'thing' and focus on finishing your coding work. You have oodles of support in the NXT community, and I for one get freaked out when you start talking about throwing in the towel. There are plenty of key people in the NXT community that we can't afford to lose, and you're definitely one of them. You'll never please everyone, so stay out of this thread as much as possible, and concentrate on pleasing yourself. As you say, you have the perfect skill-set for NXT - code, tech marketing, & finance.
[/quote]

+1

[Eadeqa]

Wesleys client as an iOS app would be fantastic!!

His client is in Javascript. I think IOS apps are written in Objective-C.

edit: though he can make it mobile browser friendly. It will be just as good

[Eadeqa]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

All he has to do is make a mobile browser friendly version. There is nothing apple could do to stop it

[Fatih87SK]

Wesleys client as an iOS app would be fantastic!!

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

If Apple removes the app, users can always go to the website which will be mobile compitable soon  

[bitcoinpaul]

PS, I am looking for a web developer to give me a hand (well, haha, I need more than just a hand) in developing hashrate.org
I would be willing to offer a slight stake in the overall pool profit in return for the assistance (which is intended to eventually be 2%, once the pool is out of beta.. it is currently 0%.)

I hope someone is helping him!

[bitcoinpaul]

Maybe people need to realize that AT is coming. That means NXT will have Turing machine capability. That means nobody can stop me from doing whatever I come up with. I will do what I can to turn NXT into a platform.

Indeed the things that will be possible once we have AT in place are rather mind blowing.

[bitcoinpaul]

I get the feeling that everytime I come up with a cool new feature, a lot of people will get upset and I am not sure what to do. With NXT I can do almost anything and I am in the process of designing a set of features that will put NXT so far ahead of all the other cryptos, but now I am having second thoughts.
...

Personally, I like the things you're doing, but whether or not people like your stuff at first shouldn't be a factor in building them.  You can't please everyone, and you shouldn't try.  If you're making things it should be because its something you want to do and have a passion for, not to please others.  You're doing cool things.  If others like it too, that's bonus.

+1

I will discuss this topic with my brain. But no matter what: keep doing your stuff.

[swartzfeger]

I feel that NXT as a community is at a decision point. Do we want to wage war against bitcoin for supremacy in payments and become the crypto version of paypal or do we want to become a platform that will enable transformation of the world to an economy that is significantly crypto based.
James

The answer should be both.

OK, you go take on the bitcoin guys. Let me know how it works out. I'm off doing the platform thing

Bye for now, back in a week (give or take). Maybe I will check in, maybe I wont.

Gnite

Crap, I show up just as you exit stage left...

Platform. **DUH**

What brooklynbtc said upstream a few pages back... free, open, unfettered. No restrictions. Options, not obligations.

[btc2nxt]

OK, let me try a different angle.

Imagine that somehow miraculously we get BTC denominated trading in NXT AE and it gets 10% of all crypto trading. This is bound to get some press coverage, even without our help. Now, we are being mentioned in the Wall Street journal and major papers as being a significant threat to all the centralized exchanges. People who never even bothered with crypto start investigating. They arent rocket scientists, but they gots tons of money. Do you think they will buy BTC or NXT? Remember, they are finding out that NXT enabled BTC trading. That implies that NXT is more powerful than BTC. BTC cant trade itself, but NXT can not only trade itself, it can trade BTC.

Ricky, you are right, what if the world finds out NXT is so much better than BTC. They just might start buying so much NXT there wont be any left to use a 1.0 currency

James

+1

[farl4web]

What James is saying is if one day the big money (hedge funds, institutional investors, "Visa-scale" institutions...) wants to trade on NXT asset exchange, for them to acquire or dispose of that many Nxtcoins will soak up all the liquidity in the NXT markets and cause the price to whipsaw....because they are forced to do transactions denominated in NXT. This means the big money would never get into NXT because they would self-destruct the NXT economy.

The alternative is to have assets CHASE.USD where Chase Bank issues US$1 billion worth and let people trade Chase.USD directly for other assets, and only pay for their transaction fees in Nxt.

Right now if I want to buy an asset, I have to use NXT, which is fine when you're dealing with small time stuff.

I think he has a good point and I can't think of a way to refute it.

James, maybe this message would be better off in the asset exchange thread?

You'll get more traction there rather than get buried ITT.

Can the problem be solved by introducing NxtSatoshi's? 0.00000001 NXT? There is much more NXT to circulate.

I'm really not that good in math, just hope I can help.  

EDIT: I seemed to be too late. Nice holiday James!