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Author Topic: Adam B Levine about NXT: "...best software out there.. .. future of bitcoin.."  (Read 3156 times)
achimsmile
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March 18, 2014, 06:51:06 AM
 #21

You don't have to believe me, but if you watch the hour+ hangout linked in the first post I think it'll be pretty obvious I'm not in the bag for any of the protocols, and I'm trying projects on all of them because I want to find out which one is best for which use-cases.

If you're just generally not seeing the point of "user created assets" that things like NXT, MSC, and XCP allow I would really recommend reading the free, recently released book by Tim Swanson on Smart Contracts, Smart Property and what all the hype is about.

http://www.scribd.com/doc/210537698/Great-Chain-of-Numbers-a-Guide-to-Smart-Contracts-Smart-Property-and-Trustless-Asset-Management-Tim-Swanson

Good luck!


i am also in all three projects (msc,xcp,nxt), what makes xcp or msc "easier" or let us say more useful, is that it is on top of btc. so people can send btc directly into the protocol, without first changing it on an exchange. second point is that the btc blockchain is proven for a few years... . for example xcp has engaged sergio lerner and peter todd for auditing, both are well known heads in the bitcoin community. nxt is trying hard to get their code audited by a third person.

anyway nxt is very promising in the longterm, but the useability is limited regarding adaption - what it needs is time
NXT failed at 1NXT fee system...
Where is point to use currency with such high fee...
Most gods is around ~20-50$ now fee 0,5$ this is in basis have fail a bit as currency.
If 1 NXT will cost 1000$ who will use it ?
Even with most advance features cost of using NXT outside exchange make it just pointless as currency...

In same time Bitcoin can cost 10000$ and you can pay 0,1$ fee or less for transfer...

But if we change NXT fee to 0,01 NXT that will probably hurt only that small players.

And today when projects with high lvl of development will arrive soon like NEM,Emunie,Exo,Entherum...
I don't say NXT is bad but that 1NXT fee is killing my interest.


Wait 2-3 weeks. The fee will be changed to 0.1 NXT approx. by then, and can be even smaller later on.

Why would small fees only hurt the small players?
A whale hardly looses anything if he transfers his 1M for 1 NXT, but it hurts a small player to send 10 NXT for the same fee.
Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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March 26, 2014, 07:38:43 PM
 #22

My opinion on nxt fee as I posted on the nxt thread just now:

All fees should be completely free to be chosen by the payer/sender. If he wants to send his money or issue assets for 0.000000000001 nxt fee so be it but he must be aware there are high chances of his transaction taking a really long time to be approved due to not being too good for forgers. This fee is too high and has nothing to do with the freedom nature that NXT should have. It's coercive and inefficient. IMO fees shouldn't be 0.01 or 1 or anything else forced but completely free to be chosen, just like bitcoin

fees should only be as high to prevent blockchain dusting and that's it. 1 fee to send money 1000 to issue assets is ridiculous it should be at least 0.01 and 10, but rewarding those who pay higher fees by making sure their transactions get approved much quicker than those who pay lower fees
(and I say all of this by being a big forger so this would affect me negatively but I still want it for NXT's future sake. people with 1% of nxt coins barely forge more than 15 blocks a day so even with nearly no fees being paid due to small transactions there still is a lot of forging and competition!)

Yes, you are completely right, the problem is, that the source does not allow fractional NXT right now. The main developer is currently rewriting it so that 0.00000001 NXT will be possible. Just stay tuned, we will release an update soonish Wink

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March 26, 2014, 09:17:16 PM
 #23


As mentioned, I am building projects on all viable platforms, NXT is one of the top contenders from my analysis of the available options.

Thanks. I wish I had the technical knowhow to pitch in myself, but I don't as of yet. Still learning how to walk  Smiley






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DemetriusAstroBlack
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March 26, 2014, 09:20:52 PM
 #24

OMG adam lavine cam sing and crypto!  WOWzers

Tip me BTC: 1MQ3JmX3xsnQqwEu7MB75GwxMtzKxJm4ha
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