NXT :: descendant of Bitcoin - Updated Information

[mthcl]

I had a similar idea: the forger is determined in the same way, but then, say, 10 accounts who are "next in the queue" append some random numbers (determined by them) to the new block. Or not the next 10, but, say, those with the weight "close" to the winning one. If this is doable, then the "bad guy" needs to control really a lot of top accounts, because even 1 account not under his control and which is allowed to insert the number, will completely mix up the things.

I would favor forgers of previous blocks. Say, we are currently at block X. At X-1440, subsequent forgers must commit random numbers until, say,10 numbers are collected. These 10 numbers will in part determine the forger of the block at X+20.

One big issue I see with that is: what forgers are allowed to include their number? That is a consensus problem, too. Who decides that?

For example, those forgers whose inverse weight differs from the winning one by less than something.

[1714996890]

1714996890

[1714996890]

1714996890

[Anon136]

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

[TwinWinNerD]

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

You make a wrong assumption! If you trade 2 nonNXT assets against each other, there would be a NXT trade in the background. It would just be a shortcut, but NXT would be involved without seeing it. Also fees would be in NXT.

[Sebastien256]

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

Well, I do not agree with you Anon, really some market need to not be tied to the value of Nxt. Just think of the USD link to the Oil industry. This is great example, and this is really problematic for the US right now. USA have a huge responsability concerning this matter. In the end, pegging everyting to Nxt will put too much pressure on the Nxt devs or the Nxt network. I think it is better to let the market choose what best currency a thing need to be denominated to. Most thing could be value in Nxt, but not everything. Better to let free will. In the end, Nxt is the platform 2.0 ecosystem. Denomintaing everything in Nxt will focus NXT to be to much of a 1.0 crypto. To much centralization toward Nxt is not good either.

I don't think Nxt need to be inflate, Nxt ecosystem value will come by its ability to solve real world problems.

Please detail more your opinion on this matter. I know you are talented to express your thinking.

@TwinWinNerD Hopefully, I hope only Nxt fee will be involve in the background.

[S3MKi]

crazy wall 0.00007000    1,581,716.425    110.72015

[NxtMinnow]

I just typed out a nice response and got a 502 Bad Gateway.  Here it is again.

If Nxt AE does not allow people to choose any pair they like then another 2.0 platform will deliver this free market. Nxt currently has the most efficient blockchain available and the strength of NXT will be in the massive free trade made possible by the ecosystem. Nxt AE limits it's usefulness if it attempts to have NXT a part of every pair. The price of NXT will rise from the use of the Nxt AE; the network will grow. People will initially want to trade in pairs that already exist. Nxt AE should facilitate this ability. Nxt AT extends these capabilities to enable "dead capital" to be titled and traded.

In the long run, Cross Chain Transactions will allow seamless cryptographic trading (likely from smart phones) allowing instant atomic trade of any cryptographic pair completely outside of the Nxt AE.

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

Well, I do not agree with you Anon, really some market need to not be tied to the value of Nxt. Just think of the USD link to the Oil industry. This is great example, and this is really problematic for the US right now. USA have a huge responsability concerning this matter. In the end, pegging everyting to Nxt will put too much pressure on the Nxt devs or the Nxt network. I think it is better to let the market choose what best currency a thing need to be denomitated to. In the end, Nxt is the platform 2.0 ecosystem. Denomintaing everything in Nxt will focus NXT to be to much of a 1.0 crypto. To much centralization toward Nxt is not good either.

I don't think Nxt need to be inflate, Nxt evosystem value will come by its ability to solve real world problems.

Please detail more your opinion on this matter. I know you are talented to express your thinking.

@TwinWinNerD Hopefully, I hope only Nxt fee will be involve in the background.

[mthcl]

crazy wall 0.00007000    1,581,716.425    110.72015

It seems that some rich guy is acting against price drops: the same wall was at 0.00004, then at 0.00005, it just moves...

[Sebastien256]

If Nxt AE does not allow people to choose any pair they like then another 2.0 platform will deliver this free market.

+1
I hope that Nxt will FIRST deliver this free market. Only Nxt fee should be include for any transaction happening on the Nxt network. Nothing more.

[mcjavar]

crazy wall 0.00007000    1,581,716.425    110.72015

It seems that some rich guy is acting against price drops: the same wall was at 0.00004, then at 0.00005, it just moves...

I just love him

[mcjavar]

So sell into 7200 and buy back lower later?

I wouldn´t, but who knows.

[paradigmflux]

Just distributed over 2200 NXT to the miners for less than 24 hours of mining!!!
And that was with the price jump!

[S3MKi]

crazy wall 0.00007000    1,581,716.425    110.72015

It seems that some rich guy is acting against price drops: the same wall was at 0.00004, then at 0.00005, it just moves...

agree

[Sebastien256]

So sell into 7200 and buy back lower later?

With a 1.5M wall at .7, big deal!  

[S3MKi]

crazy wall 0.00007000    1,581,716.425    110.72015

It seems that some rich guy is acting against price drops: the same wall was at 0.00004, then at 0.00005, it just moves...

I just love him

I hate him:)

[NxtMinnow]

Dear altcoins, Resistance is futile.

paradigmflux thank you and great work!

Just distributed over 2200 NXT to the miners for less than 24 hours of mining!!!
And that was with the price jump!

[Anon136]

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

Well, I do not agree with you Anon, really some market need to not be tied to the value of Nxt. Just think of the USD link to the Oil industry. This is great example, and this is really problematic for the US right now. USA have a huge responsability concerning this matter. In the end, pegging everyting to Nxt will put too much pressure on the Nxt devs or the Nxt network. I think it is better to let the market choose what best currency a thing need to be denominated to. Most thing could be value in Nxt, but not everything. Better to let free will. In the end, Nxt is the platform 2.0 ecosystem. Denomintaing everything in Nxt will focus NXT to be to much of a 1.0 crypto. To much centralization toward Nxt is not good either.

I don't think Nxt need to be inflate, Nxt ecosystem value will come by its ability to solve real world problems.

Please detail more your opinion on this matter. I know you are talented to express your thinking.

@TwinWinNerD Hopefully, I hope only Nxt fee will be involve in the background.

Well you didnt disprove either of my arguments you only added a couple of new ones. I tend to agree with your arguments, i think they are right. However they are not sufficient to overcome mine. Its like if we were stranded on an island and a box of liquorish washed up on shore and i said you should eat some of them and you said yea i would except i don't like the taste. Yes that's a good valid and right argument for why not to eat something, but its insufficient to overcome the argument that if you dont eat them than you will probably die.

[Anon136]

I just typed out a nice response and got a 502 Bad Gateway.  Here it is again.

If Nxt AE does not allow people to choose any pair they like then another 2.0 platform will deliver this free market. Nxt currently has the most efficient blockchain available and the strength of NXT will be in the massive free trade made possible by the ecosystem. Nxt AE limits it's usefulness if it attempts to have NXT a part of every pair. The price of NXT will rise from the use of the Nxt AE; the network will grow. People will initially want to trade in pairs that already exist. Nxt AE should facilitate this ability. Nxt AT extends these capabilities to enable "dead capital" to be titled and traded.

In the long run, Cross Chain Transactions will allow seamless cryptographic trading (likely from smart phones) allowing instant atomic trade of any cryptographic pair completely outside of the Nxt AE.

To be clear from this morning,

Nxt Asset Exchange will allow trading in any pair chosen by market participants, correct?

not at the start. Once AT will be enabled, someone can create such a pair with NXT in the background

honestly i think it would be best never to let that happen for a couple of reasons. it forces people to use nxt which inflates the value and strengthens the security of the network but also it forces the markets to be deeper and more liquid thus reducing volatility and generating more accurate and reliable price signals.

Well, I do not agree with you Anon, really some market need to not be tied to the value of Nxt. Just think of the USD link to the Oil industry. This is great example, and this is really problematic for the US right now. USA have a huge responsability concerning this matter. In the end, pegging everyting to Nxt will put too much pressure on the Nxt devs or the Nxt network. I think it is better to let the market choose what best currency a thing need to be denomitated to. In the end, Nxt is the platform 2.0 ecosystem. Denomintaing everything in Nxt will focus NXT to be to much of a 1.0 crypto. To much centralization toward Nxt is not good either.

I don't think Nxt need to be inflate, Nxt evosystem value will come by its ability to solve real world problems.

Please detail more your opinion on this matter. I know you are talented to express your thinking.

@TwinWinNerD Hopefully, I hope only Nxt fee will be involve in the background.

yea you are right. our competitors will do it if we don't. and it will be to their determent. we will have by far the deepest and most liquid markets featuring the most reliable prices. they will do it and it will be a mistake and we will benefit from their mistake.

*edit* this doesn't preclude the possibility of having the client handle the conversions behind the scene so that it looks to the user as if every pair possible exists and the transaction between them is made with 1 click instead of 2.

[mczarnek]

I've changed my mind, I don't think we need to worry about the value of Nxt.

Looks at the big companies, worst case scenario, Nxt will be a 30 Billion dollar stock like twitter, though I suspect it'll be much higher than that.

Nxt will be capable of doing so many things and be able to cheaply and securely compete in many markets.

[NxtMinnow]

Anon136,

The free market must be allowed to flourish on the blockchain. Why insist on settling trade in NXT for every transaction when every transaction already has a NXT cost to process? What if a consumer wants to use the Nxt AE, has NXT for transaction fees and wants to buy $10 million of oil from a reputable Nxt AE Issuer (vetted with history, positive transactions, other due diligence items).

In your scenario the buyer must buy $10 million worth of NXT (about 250 million NXT) or about 1/4 of the existing TOTAL supply of NXT.
This simple attempt to purchase 25% of the supply of the TOTAL STAKE of a cryptocurrency would drive the price of NXT far past reasonable and the order could not be filled at the preferred price (the price before $10 million of NXT buy orders hit the market, attempting to take control of 25% of the supply of a Proof of Stake Currency.)

Then the user of the NXT AE (now seller of NXT) would have to sell $10 million of NXT to buy $10 million of oil from the reputable Nxt AE Issuer.
Big money needs room to move. Nxt needs to provide that room to move. I believe my illustration showing why Nxt AE needs to allow trading between any pair is complete.

[Jerical13]

I would like for us to try and come up with a "NXT Mission Statement".

http://en.wikipedia.org/wiki/Mission_statement
https://www.missionstatements.com/
http://www.entrepreneur.com/article/65230
http://www.norcblueprint.org/uploads/File/Mission_Statement_Guidelines.pdf
http://www.fastcompany.com/1400930/how-write-mission-statement-isnt-dumb

From the links above:

"A mission statement defines in a paragraph or so any entity's reason for existence. It embodies its philosophies, goals, ambitions and mores. Any entity that attempts to operate without a mission statement runs the risk of wandering through the world without having the ability to verify that it is on its intended course."
 
I suggest two rules to this exercise.  

First, posts containing your personal vision of the NXT mission statement contain no elaboration, explanation or follow-on text.  The whole point of a mission statement is that it is short and self-contained, and is supposed to stand alone.

Second, say or post NOTHING about anybody else's NXT Mission Statement, only modify and resubmit your own based on what you see others write.

This is a brainstorming exercise.  We will probably end up with several variants of a mission statement.  This may help us identify and understand different "subcultures" in our community and who belongs to them.  

Or this may just be an exercise in futility, I dunno.

Here's a first draft of "My NXT Mission Statement":  

The mission of NXT is to become humanity's most widely used blockchain-based currency for the purchase of goods and services online.

Think there needs to be more?  This mission statement is a blockchain of sorts - add to (or fork) it!


 

To provide people with access to a truly decentralized "Free Market" economy and function as a tool for people to conduct commerce amongst themselves with out constraints or restrictions other than those imposed by limits of blockchain technologies and their own imaginations.