[NXT] Decentralized Asset Exchange Discussion Thread

[abctc]

WTS RandomBux for testNXT. Its the most valuable thing

- give me 2 !  (order placed)

[landomata]

I think it would be possible to Peg one Asset against the full Exchange price....almost like an Exchange Traded Fund....I think this is where DAC's could come in handy.

[swartzfeger]

I think it would be possible to Peg one Asset against the full Exchange price....almost like an Exchange Traded Fund....I think this is where DAC's could come in handy.

Yes. ETFs, Indexes, basket currencies, Spiders... WE WANT IT ALL

[msin]

The importance of this sort of functionality can not be overstated and it could definitely be built in to the protocol if it isnt already.

We could add some kind of "startIPO" transaction.

+1 That would be awesome.

[Anon136]

WTS RandomBux for testNXT. Its the most valuable thing in the universe so dont miss this once in a life time opportunity!

What's your test address, Anon? I still have over 100k left.

17567379695603145590 and where do i send the RandomBux?

Nowhere. Donation. We need you testing, not monkeys like me.

i know. i want to know your address SO i can test the functionality. randomBux are not actually the most valuable thing in the universe.

[landomata]

I think it would be possible to Peg one Asset against the full Exchange price....almost like an Exchange Traded Fund....I think this is where DAC's could come in handy.

Yes. ETFs, Indexes, basket currencies, Spiders... WE WANT IT ALL

NxtFreerider has a bot module built in....can;t wait to push the possibilities.

[Anon136]

WTS RandomBux for testNXT. Its the most valuable thing

- give me 2 !  (order placed)

2!? what are you trying to do here? build a space station? no mortal man requires that sort of wealth

*edit* when you say order placed do you mean through the client? cuz im not seeing how to fill it.

[swartzfeger]

i know. i want to know your address SO i can test the functionality. randomBux are not actually the most valuable thing in the universe.

Lol, I haven't had my morning coffee yet, apologies --

testNXT: 11369639962571180006

[Anon136]

how to get a testNXT account???

there is a link to where you download the client in the op. once you get it set up tell me your address and ill send you some text nxt. i have 68k atm so thats plenty to go around

[Anon136]

i know. i want to know your address SO i can test the functionality. randomBux are not actually the most valuable thing in the universe.

Lol, I haven't had my morning coffee yet, apologies --

testNXT: 11369639962571180006

sent, let me know when/if you see them show up on your end.

[Vannicke]

Hmm, might I have some testNXT at 10356543424426272552

Edit: hmmm, is there a testnet explorer out there?

[Anon136]

Hmm, might I have some testNXT at 10356543424426272552

Edit: hmmm, is there a testnet explorer out there?

sent

can anyone confirm receiving my RandomBux?

Also can anyone tell me an asset they have for sale. Ill buy some and you can confirm receiving my nxt.

[V4V]

Glad to see that the asset exchange feature is coming along. I have a proposal for the asset exchange feature. It can truly make decentralized peer to peer transactions/exchanges legitimate. I have been developing this idea ever since the asset exchange feature was first mentioned in NXT. Here it is.

Obviously there are dangers inherent within p2p transactions. The main issue here is the lack of trust, and the trust that is lost by not utilizing a third party. When transactions are non reversible, especially with no intervening regulatory figure, the willingness to exchange goods, services, or currencies becomes an issue. My idea to bypass these issues involves an escrow service, a rating system (similar to those on Ebay and Amazon) and the aliasing feature.

Lets say..

"Joe" wants to exchange something of value with "Sue" but Joe and Sue don't know each other. How can Joe trust Sue in receiving the item in question after Joe pays Sue? Well of course, they can utilize a third party escrow service, which will insure Joe will receive the item in question by transferring money to the escrow service.

But,

you may be asking, doesn't the escrow service defeat the purpose of a true p2p exchange? Yes it does. But it doesn't have to be permanent. This is where NXT can implement a rating based system attached to accounts or the alias' of an account. Think of it as someones credit score attached to a social security number. But within the NXT ecosystem, the credit score is a star based rating, and the social security # is the users NXT account.

Now revisiting Joe and Sue's transaction, they "must" now rate each other based on how well they serviced each other after the transaction has taken place. When Joe and Sue continue to build their "trust" rating with everyday users of NXT, they have the choice of opting out of the escrow service and they can start trading and exchanging with other users that have trustworthy reputable ratings. After people have built trustworthy ratings within the NXT ecosystem, users will now have a much better understanding of whom they are doing business with, and will establish the most efficient p2p exchange mechanism which no other
crypto-currency utilizes.  

I hope you developers see the potential of this system, especially in a p2p environment that exchanges things of value.

NXT:   5464489754473015994

[V4V]

And for those who think openly showing these ratings is an issue, there can be a protocol implemented which keeps these
ratings hidden within the code, but users can determine what level rating they are willing to conduct business with. If it doesn't conform to the users standards, then the protocol can block the transaction and offer a warning whether they will trust the second party or not. This can give its user some discretion.

[l8orre]

waah ! jst been away for two hours and here is a runaway thread discussing the AE - will try to keep up.

Tomorrow and day after is BitcoinBerlin - can't miss that.

nxtFreeRider needs a LOT mor work, but the backend is really good. Been working full overdrive for over 4 weeks on it now, is getting MUCH easier now!

yup, it has a bot module that can easily be hooked up with scipy.

Plus, it can be used to load test NRS backends 

cheers,
l8orre

[Vannicke]

Also can anyone tell me an asset they have for sale. Ill buy some and you can confirm receiving my nxt.

Put up an asset: 0sand1s  assetID: 10956216527757194145

[Anon136]

Also can anyone tell me an asset they have for sale. Ill buy some and you can confirm receiving my nxt.

Put up an asset: 0sand1s  assetID: 10956216527757194145

my client isnt showing any open orders

[l8orre]

Also can anyone tell me an asset they have for sale. Ill buy some and you can confirm receiving my nxt.

Put up an asset: 0sand1s  assetID: 10956216527757194145

my client isnt showing any open orders

here is a bunch of open orders:

 
{'askOrderIds': ['439393689019899495']}
{'bidOrderIds': ['16448433101430960261', '14191221311280600257']}

[Vannicke]

derp, put one in ... the client is very very laggy for me ... taking quite a bit of patience to get things in place ...

[l8orre]

For test purposes, besides API, the 0.0.5 clieNxt client can be used:

https://bitcointalk.org/index.php?topic=345619.msg5054385#msg5054385

Also nxtFreeRider, tool in python I haven't tried yet - https://bitcointalk.org/index.php?topic=345619.msg5080052#msg5080052 . Unsure if it can hook to the testnet.

yes, that is actually hardcoded into it at the moment ...