NXT :: descendant of Bitcoin - Updated Information

[salsacz]

You get dividends and if the company gets evaluated higher you participate in price gains

have you ever heard of the stock/commodity market?

how can you get dividends?

[TwinWinNerD]

You get dividends and if the company gets evaluated higher you participate in price gains

have you ever heard of the stock/commodity market?

how can you get dividends?

This will be implemented (if i am not wrong) either with a tool or with a multioutput transaction

[mczarnek]

Is there a reason we can't just have transaction fees market-driven? Let the forgers decide what fee is acceptable. Why impose "price controls?"

I'm adding it right now.

This makes me happy. It would be awesome for fee determination to be algorithmic somehow!

Sounds pretty awesome but does that mean that you can't know ahead of time what fee you'll have to pay?  You send a transaction and the forger says I don't accept transactions that low and you get dropped?  Or what if a forger votes for a certain fee, keeps his forger on for months but the fee is ridiculous given how the price has changed?  So maybe you weight current fees based upon how recently they have been received?

I generally like this idea but would like to hear how it is being implemented.  In general though, I like the idea of market driven transaction fees.

[Anon136]

I think the digital good store could be the place to go. Let's wait how it will look like.

CfB - ETA?

im confused why its a digital goods store and not just a goods store

Actually it is quite clever, they want to make it that you pay and it immediately releases the digital good to you.

For example someone wants 5 NXT for a picture of beyonce getting fucked from behind.
Then you pay and immediately the network releases this picture to you. (don't know how yet)

it is trustless!

thats super awesome!

so then that means i do in fact want to start my own project. i want to build a bitmit type service on top of the nxt blockchain. would anyone be interested in this? i would probably be willing to pay up to 100,000 nxt to get it done right the way i want it though im not sure if i would need to pay that much. ill have to do some more research. we need a new bitmit and bitmit_2.0 may as well be built onto of a blockchain that way we dont ever have to worry about it going anywhere like the last one.

this would be awesome, maybe this can be very meta. Bitmit runs as a DAC and their shares are listed on the exchange :O

I think the way i would have it work is for the service providers to scan the blockchain for any transaction in which the destination address is the same as the sending address, look for an arbitrary message, look for a some indicating syntax at the beginning of the message (such as i82prx as a random example) then interpret the rest of the message as a magnet link for a torrent. then have the details of the listing contained in the file that that magnet link points to.

ill have to think about this a lot more. there are lots of questions like how to deal with trust. do we just piggy back on otc_WebOfTrust or do we build our own thing. the security implications of having magnet links that execute automatically. lots of stuff.

if anyone is interested in working with me on this project pm me.
 

[IveBeenBit]

why not? whats the cost? sure i recognize that there is a cost but its minor compared to the benefit.

I think the cost is the "image" of the project - if we are wanting to court more business types then fees such as 1000 NXT are not going to frighten them at all.

But kids having fun are going to create Assets left, right and center if we make it the same price as creating an AM.

For those who have been around long enough...let's think about what happened with GLBSE versus MPEx. MPEx has always charged about BTC20 just to get an account there. GLBSE would let anyone with a pulse onto their exchange. GLBSE was 99% scams and incompetents. MPEx, and the issues it trades, has been financially solid throughout.

BUT

MPEx has only had maybe 3 or 4 equities trading, and one of those is for MPEx itself. GLBSE had dozens of issues.

I don't have a strong opinion either way, but enabling Anon's little girl to open a lemonade stand is a compelling narrative to me, personally.

I also am uncomfortable with the idea of having a central authority (the Nxt protocol) dictate prices. The forgers have to do the work and should set prices, is my first blush at it.

[Anon136]

Is there a reason we can't just have transaction fees market-driven? Let the forgers decide what fee is acceptable. Why impose "price controls?"

I'm adding it right now.

This makes me happy. It would be awesome for fee determination to be algorithmic somehow!

Sounds pretty awesome but does that mean that you can't know ahead of time what fee you'll have to pay?  You send a transaction and the forger says I don't accept transactions that low and you get dropped?  Or what if a forger votes for a certain fee, keeps his forger on for months but the fee is ridiculous given how the price has changed?  So maybe you weight current fees based upon how recently they have been received?

I generally like this idea but would like to hear how it is being implemented.  In general though, I like the idea of market driven transaction fees.

eh. its highly unlikely that a forger would turn down 0.1 nxt even.

[farl4web]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly? 

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

I fear that whatever forum will be up, there will always people that are not happy. nextcoin is run by a business on the top level (dgex), while nxtcrypto have no admin. So make your idea based on this.

Didn't know about the troubles with forums.nxtcrypto.org. I'm convinced there need to be a 'decentralized' forum. (although I like Nextcoin.org, it isn't the right name).

You can use my domain if you want:

www.nxtforum.org

[Eadeqa]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company would issue such asset. I won't buy it still.

Lets move on.

[bitcoinpaul]

You get dividends and if the company gets evaluated higher you participate in price gains

have you ever heard of the stock/commodity market?

how can you get dividends?

This will be implemented (if i am not wrong) either with a tool or with a multioutput transaction

AT is also a possible solution.

[bitcoinpaul]

You can use my domain if you want:

www.nxtforum.org

+1

[Anon136]

why not? whats the cost? sure i recognize that there is a cost but its minor compared to the benefit.

I think the cost is the "image" of the project - if we are wanting to court more business types then fees such as 1000 NXT are not going to frighten them at all.

But kids having fun are going to create Assets left, right and center if we make it the same price as creating an AM.

For those who have been around long enough...let's think about what happened with GLBSE versus MPEx. MPEx has always charged about BTC20 just to get an account there. GLBSE would let anyone with a pulse onto their exchange. GLBSE was 99% scams and incompetents. MPEx, and the issues it trades, has been financially solid throughout.

BUT

MPEx has only had maybe 3 or 4 equities trading, and one of those is for MPEx itself. GLBSE had dozens of issues.

I don't have a strong opinion either way, but enabling Anon's little girl to open a lemonade stand is a compelling narrative to me, personally.

I also am uncomfortable with the idea of having a central authority (the Nxt protocol) dictate prices. The forgers have to do the work and should set prices, is my first blush at it.

yea the solution is maybe that we (the nxt community) will just have to make plenty of legitimate and awesome assets. that way everyone will say "yea there are plenty of scams but there are legitimate things as well, just like nxt and counterparty"

[Anon136]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly? 

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

I fear that whatever forum will be up, there will always people that are not happy. nextcoin is run by a business on the top level (dgex), while nxtcrypto have no admin. So make your idea based on this.

Didn't know about the troubles with forums.nxtcrypto.org. I'm convinced there need to be a 'decentralized' forum. (although I like Nextcoin.org, it isn't the right name).

You can use my domain if you want:

www.nxtforum.org

mb we should do this first before i try to do a marketplace. it could be a good stepping stone.

[TwinWinNerD]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt (short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company) would issue such asset. I won't buy it still.

Lets move on.

And let's say you want to trade BTC/NXT, who do you trust more, the blockchain + a gateway or a site like cryptsy?
You will be able to trade BTC/NXT on the asset exchange.

Also, luckily most people here see the extreme advantages of an asset exchange, the little number of people who doubt the concept don't matter.

[BitcoinForumator]

Nxt is in dared need of a 100% trust forum. Im wondering how long it will take until we get one. I believe community fund should fund a forum to get thing structure a bit. It good to be decentralized, but not desorganized.

I'm setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org:

http://107.170.117.237

Why do we need another forum exactly? 

http://www.nextcoin.org is very popular and http://forums.nxtcrypto.org is also fine.

And if we get new forum, could we please use a Next Generation design?   Something like this https://ripple.com/forum (sorry for using Ripple as example).

I fear that whatever forum will be up, there will always people that are not happy. nextcoin is run by a business on the top level (dgex), while nxtcrypto have no admin. So make your idea based on this.

Didn't know about the troubles with forums.nxtcrypto.org. I'm convinced there need to be a 'decentralized' forum. (although I like Nextcoin.org, it isn't the right name).

You can use my domain if you want:

www.nxtforum.org

Great! Use this domain please.

I don't hate GDInc in any way, he's done a fair share of good deeds, but I don't like Nextcoin because of the name and for this reason I don't visit it that much.

[IveBeenBit]

ANNOUNCEMENT

The new Nxt forum can be found here, people: http://107.170.117.237/index.php

Just so you don't miss it!

It looks great! I can't wait to see more discussion moving over there!

what happened to the old one?

The forum admin was hit by a bus.

[salsacz]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt (short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company) would issue such asset. I won't buy it still.

Lets move on.

And let's say you want to trade BTC/NXT, who do you trust more, the blockchain + a gateway or a site like cryptsy?
You will be able to trade BTC/NXT on the asset exchange.

Also, luckily most people here see the extreme advantages of an asset exchange, the little number of people who doubt the concept don't matter.

how can btc shares transform in real btc on my bitstamp acc?

[Eadeqa]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt (short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company) would issue such asset. I won't buy it still.

Lets move on.

And let's say you want to trade BTC/NXT, who do you trust more, the blockchain + a gateway or a site like cryptsy?
You will be able to trade BTC/NXT on the asset exchange.

Also, luckily most people here see the extreme advantages of an asset exchange, the little number of people who doubt the concept don't matter.

That's not dividend. I am getting a commodity in return (bitcoin) right away. This is different.

[TwinWinNerD]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt (short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company) would issue such asset. I won't buy it still.

Lets move on.

And let's say you want to trade BTC/NXT, who do you trust more, the blockchain + a gateway or a site like cryptsy?
You will be able to trade BTC/NXT on the asset exchange.

Also, luckily most people here see the extreme advantages of an asset exchange, the little number of people who doubt the concept don't matter.

how can btc shares transform in real btc on my bitstamp acc?

[TwinWinNerD]

You get dividends

So if the company makes profit, they pay some of the profit to their asset holders?. As nxt is decentralized anonymous with no govt involvement, there is  no legal framework and checks and balances to insure the "company" isn't lying.
 
I don't think it's going to do anything for nxt (short to long term --- nxt needs to be at least at bitcoin level in popularity before even a semi-legitimate business like a gambling company) would issue such asset. I won't buy it still.

Lets move on.

And let's say you want to trade BTC/NXT, who do you trust more, the blockchain + a gateway or a site like cryptsy?
You will be able to trade BTC/NXT on the asset exchange.

Also, luckily most people here see the extreme advantages of an asset exchange, the little number of people who doubt the concept don't matter.

That's not dividend. I am getting a commodity in return (bitcoin) right away. This is different.

please catch up what the word asset means.

Thank you

http://en.wikipedia.org/wiki/Asset

[IveBeenBit]

If they are forced to use only NXT for their trades then the demand will generate a higher price for NXT. That is how the math works. Do you expect that their will such a tidal wave of business inflow that the price of NXT will not be able to keep up? I think that would be when it would actually go to the moon.

James, BrooklynBTC, Sebestian, other people, and I have all made very good arguments for why what you wrote above it wrong. You show no sign that you even understand the counter arguments. I understand your argument completely, and it's wrong. In fact, I once agreed with what you are saying before thinking about it. You are repeating yourself.