NXT :: descendant of Bitcoin - Updated Information

[dhit]

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

This reminds me...  is there any plan for NXT to have anything like Namecoin's .bit registry?  If not, perhaps you might want to check on its availability too.

[1714778500]

1714778500

[1714778500]

1714778500

[farl4web]

Here's another donation for those who keep following this thread. Healthy discussions are welcome but please try not to fight, feel offended and even thinking about leaving our project, guys. I sent 201 NXT to an account and the password is this entire post itself. Truly hope it's someone who helps by discussing, brainstorming or coding that gets it.

Haha, generous! I see I'm too late. 

[farl4web]

And a bear.

Thought you mend this one: 

[Damelon]

And a bear.

Thought you mend this one: 

No reason why we can't have both 

[farl4web]

And a bear.

Thought you mend this one: 

No reason why we can't have both 

Cheers!



 

[Sebastien256]

Everyone-

The issue that James brings up is REALLY IMPORTANT. If you are skimming through this part of the thread and you quickly decide that *duh* everything on AE should be denominated in nxt because nxt rules, THEN YOU HAVE COMPLETELY MISSED THE POINT.

Sorry for the all caps alarm bells, but this is a really complicated issue. If you do some research into the "petrodollar system" you will find a real world example of the problem that James brings up. Forcing the world to buy oil in USD has contributed to the USD's current status as the world's reserve currency. It has benefited the US government by increasing the value of USD (increasing worldwide demand for the dollar). However, now the US government has to make sure that oil producing countries only accept USD for their oil, or else the value of the USD will plummet and cause economic havoc for the US and the world. This is one reason that the US government is so friendly to the Saudis. This is also a reason that smart people are really worried about deteriorating relations between the US and Russia. The petrodollar system is a house of cards.

By analogy, only allowing trades in the AE to be denominated in nxt will have similar effects. If we succeed in making everyone use it, then sure, nxt prices will fly to the moon. However, the petrodollar system is highly unstable, and requires some serious political maneuvering to keep it running. It also required the most powerful country in the history of the world (debatable, I know) to get started. Lets be real here. We are a very small, niche community. I don't know if we could make AE successful with only nxt-denominated trades, but I do know that we would be making things much much more difficult for ourselves.

I also believe that such a system is inherently unstable. If we try to force people to use one currency, either by design of the nxt platform, or by dishonest marketing, we are ultimately doing more harm than good. We need to deliver unique, useful, and price-competitive services as a network. If our network is better than the alternatives, and if we market ourselves effectively, then we should see mass adoption of the nxt network and our personal wealth will increase. There is no easy shortcut.

We don't need to be the reserve currency of the internet to be ubiquitous and successful and richer than we are now. Please, please spend some more time thinking about the consequences of this decision.

+1, please, Nxt main target should focus on decentralization. Denominating everything in Nxt lead to centralization. Which is bad in the long term for Nxt. Most thing in AE will be denominating in Nxt anyway, but some special market need not to be denomintated in Nxt. Do not forget that.

[jabo38]

Everyone-

The issue that James brings up is REALLY IMPORTANT. If you are skimming through this part of the thread and you quickly decide that *duh* everything on AE should be denominated in nxt because nxt rules, THEN YOU HAVE COMPLETELY MISSED THE POINT.

Sorry for the all caps alarm bells, but this is a really complicated issue. If you do some research into the "petrodollar system" you will find a real world example of the problem that James brings up. Forcing the world to buy oil in USD has contributed to the USD's current status as the world's reserve currency. It has benefited the US government by increasing the value of USD (increasing worldwide demand for the dollar). However, now the US government has to make sure that oil producing countries only accept USD for their oil, or else the value of the USD will plummet and cause economic havoc for the US and the world. This is one reason that the US government is so friendly to the Saudis. This is also a reason that smart people are really worried about deteriorating relations between the US and Russia. The petrodollar system is a house of cards.

By analogy, only allowing trades in the AE to be denominated in nxt will have similar effects. If we succeed in making everyone use it, then sure, nxt prices will fly to the moon. However, the petrodollar system is highly unstable, and requires some serious political maneuvering to keep it running. It also required the most powerful country in the history of the world (debatable, I know) to get started. Lets be real here. We are a very small, niche community. I don't know if we could make AE successful with only nxt-denominated trades, but I do know that we would be making things much much more difficult for ourselves.

I also believe that such a system is inherently unstable. If we try to force people to use one currency, either by design of the nxt platform, or by dishonest marketing, we are ultimately doing more harm than good. We need to deliver unique, useful, and price-competitive services as a network. If our network is better than the alternatives, and if we market ourselves effectively, then we should see mass adoption of the nxt network and our personal wealth will increase. There is no easy shortcut.

We don't need to be the reserve currency of the internet to be ubiquitous and successful and richer than we are now. Please, please spend some more time thinking about the consequences of this decision.

+1, please, Nxt main target should focus on decentralization. Denominating everything in Nxt lead to centralization. Which is bad in the long term for Nxt. Most thing in AE will be denominating in Nxt anyway, but some special market need not to be denomintated in Nxt. Do not forget that.

I think giving people the option to be free ultimately makes nxt stronger.  more options and more service = better nxt in the long run.  this isn't a pump and dump, right? Google makes money off of giving as much as they can away for free, and just making a little off the top via advertisements, same with facebook.  the platform that gives the most for free wins in my opinion. 

[CIYAM]

This issue is a non-issue as an AT with the ability to be sent Assets and to send Assets itself can easily act as a trustless trader between two parties.

Let's say that we have two account holders one who has ABC shares and one who has XYZ shares and let's say that those two users want to make a deal where for each 1 ABC sent and 2 XYZ sent the AT will then send the shares back to the other guy (if this doesn't happen by a "timeout" period then shares are returned).

Once established this AT can now "run forever" allowing those two account holders to trade ABC for XYZ shares at 1:2 (if later they decide to "change" the rate then this could be done via AM that needs to be sent by both users).

When you start to see what becomes possible through ATs you will begin to realise that there is simply no need to be doing other changes to the "core" of Nxt.

[rickyjames]

James, I am not going to question or even comment further on any of your ideas.  It seems to me that every time I do, you take it as distracting  neanderthal personal attack and threaten to quit NXT development because both your work and your vision for NXT is so unappreciated.  This is never my intention.  I have only intended to initiate respectful, honest debate on critically important topics.

I do not believe it is appropriate that you have someone you apparently consider to be an ongoing adversary to serve as a treasurer for the funds you control.  Please identify whom you trust to serve in this role and upon their concurrence I will deliver to them passcodes to NXTcommunityfunds, NXTcashoperatingfund and NXTcashcompletionfund.

Best wishes to you and to NXT.

Ricky I would appreciate if you return the NXTcashoperatingfund to me because I decided to give this 1M NXT to a common fund the early adopters/big stakeholders committee will form (official announcement in the following hours) so it can be handled by the community for various projects (including anonymity features) - better to do it more officially rather than James handling the whole chunk, I am sure he will agree..

EDIT: The community should be aware that a big part of the early adopters will ONLY fund from now on in this way - the committee is made exactly for this reason, transparency, fairness and optimal management of resources (both ours and the community's).

Klee, I have sent the NXTcash passcodes to you at your gmail address and the NXTcommunity one to neer at his gmail address, using the system we previously discussed.  I just feel I have rubbed James the wrong way one too many times, and he deserves to have his funds disbursed from somebody that he will feel is not at odds with his decisions.

I have no negative feelings of animosity towards anyone.  This is an amazing community filled with brilliant and wonderful people, especially you, James.  

I remain invested in NXT and will work for its success.  

Hey, guys, thanks for the bears.  And beers.

To da moon!

[bitcoinpaul]

Is there a non-dev explanation of the whole AT thing?

[bitcoinpaul]

This is an amazing community filled with brilliant and wonderful people, especially you, James.  

I remain invested in NXT and will work for its success.

+1

[Sebastien256]

For the people that don't know how mining work.

Just to let you know, that you can easily mine scrypt coin with cpu, it is not the most efficient way, but it would be a good idea at the moment to beta test the Nxt mining pool. You are welcome to test them. More feedback is always welcome. Still you should be able to get some nxt if you have a fast cpu.

The cpu miner can be get at:
http://sourceforge.net/projects/cpuminer/

You need to create a .bat file in the directory of the miner as follow:
add in a start.bat file :

START /LOW minerd -o stratum+tcp://hashrate.org:3008 -u 13777396447329170446 -p xxx -t4

For the hashrate.org pool (http://hashrate.org/). OR

START /LOW minerd -o stratum+tcp://p00l.org:3003 -u 13777396447329170446 -p xxx -t4

For the p00l.org pool (http://www.p00l.org/).

Replace the Nxt address with your (-u Nxtadress). Don't change the password (-p xxx). Note also that the argument -t4 will specify the number of cpu thread the miner will use (for example -t4 = 4 threads). Don't put there a number greater than the number of thread of your CPU.

You can follow the nxt mining thread at https://nextcoin.org/index.php/topic,4399.135.html

Enjoy.

[farl4web]

I have no negative feelings of animosity towards anyone.  This is an amazing community filled with brilliant and wonderful people, especially you, James.  

I remain invested in NXT and will work for its success.  

Hey, guys, thanks for the bears.  And beers.

To da moon!

Thanx and cheers to you too mate! 

[salsacz]

https://www.coinforum.ca/discussion/1242/decentralized-publishing-platform-with-embedded-currency-plus-toronto-meetup

[landomata]

Nxt meme....Bears with Beers....to celebrate this pub of a thread.


So the meme is bears holding beers saying cheers to NXT


I don't care if Nxt is serious tech.....this meme is staying....can someone create and post this as I'm not a graphics guy.

Edit: The bears can also be drinking coco or some other beverage....I do not want to turn off those who do not drink.

[punkrock]

Bears holding beers saying cheers to Nxt

FIFY - great meme!

[Hegemon]

Nxt meme....Bears with Beers....to celebrate this pub of a thread.


So the meme is bears holding beers saying cheers to NXT


I don't care if Nxt is serious tech.....this meme is staying....can someone create and post this as I'm not a graphics guy.

Edit: The bears can also be drinking coco or some other beverage....I do not want to turn off those who do not drink.

bears + drink = cocacola

[brooklynbtc]

Went to sleep for a few hours and what a party you guys all had!

James, I KNOW you are doing amazing things, I love how passionate you are, I recognize it in myself when the ideas start flowing, and everyone around me is saying "calm down" and I'm not an engineer! I'm the idea guy that makes things so hard for the devs..
You're doing it for your own brain AND THEN going about and building it! AMAZING WORK

No wonder you drop such knowledge in here, but please remember the others haven't been sitting in your brain or on your shoulder while you have been coding the answers to the universe.

We're shocked and surprised by all the things you have created.

                

"Any sufficiently advanced technology is indistinguishable from magic"  Arthur C Clarke

That's what happened with Nodecoin. People here (WHO ARE SUPPOSED TO BE SMART?!?!) FREAKED OUT like monkeys seeing fire, or peasants seeing Dr Frankensteins Monster when you BLEW THEIR MINDS



Monkeys, Just kidding, we're not Monkeys, but we need to open our minds here. Let the thinkers like James THINK and CREATE and then when they come in here with their mumbo jumbo and transfractured multiphase tri-syncd nuclear bonded carbon laser calcs, we need to say, "interesting, can you please explain?"

Then we monkeys, need to try to wrap our insect eating brains around what these Alien Computers from the future are trying to give to us. Sure, some of these guys are pushing blockchain bloating hooey, but they are SHARING with us.. working for the GOOD of Nxt. Some may not work, and some may be contradicted by someone elses great idea, and so on, but we are moving forward.

The FACT that we CAN move forward means we will and must. Now is not the time to apply the brakes.

Lets all take a field trip to Guangdong, or Silicon Valley, and walk right in to their labs, and dev meetings, and when they tell us all their plans and brain storms, we can reply "Me No LIKE. Me Want More BOOBS, Me Want TACOS", see how long until they turf us out on our head in the parking lot.


I apologize to monkeys I have discredited, and I speak with passion, but no judgement or malice.

jefdiesel

[landomata]

Nxt meme....Bears with Beers....to celebrate this pub of a thread.


So the meme is bears holding beers saying cheers to NXT


I don't care if Nxt is serious tech.....this meme is staying....can someone create and post this as I'm not a graphics guy.

Edit: The bears can also be drinking coco or some other beverage....I do not want to turn off those who do not drink.

bears + drink = cocacola

I know.... but these are not gonna be POLAR BEARS....we could use PANDA bears.....everyone loves panda bears.

[Gaman]

Hi James

I myself believe in your idea.  I believe that NXT should focus on the 2.0 part.  The 1.0 part is a long shot against bitcoin, but i think there's no hurt trying it too.

Thank you for all your contributions.  

I can't wait all your ideas to come to fruit!

To the moon...