| Nxt | Blockchain Platform | Proof of Stake | Official

[Conurtrol]

For those who don't understand. Nxt was only tradeable in whole numbers before i.e. 7Nxt, 8Nxt. Now it will be tradeable down to the 8th decimal place i.e. 7.55Nxt, 8.302 Nxt et.. That's it. That's what he is on about.

[lophie]

It's like saying that if you have $100 bill, and you convert it to 100000 cents , you just diluted your money.

There is no logic to to that claim as $100 = 100000 cents

okay, now assume there is only a fixed amount of dollars that no one can make more, ever. Imagine the distrbution to 70 people from the start. Then "after a while" take every dollars and cut it to 100000 part where each part also works in this currency system. Add to that that this dollar system is open source where the services it provides can be copied and adopted in a new system which can be launched at any moment.

Now the goal is to keep users on THIS CHAIN not THIS TECHNOLOGY, make it work.

[mikesbmw]

Lophie,

I dare you to come to https://nxtforum.org and talk with Come-from-Beyond about this.

But I don't know if he has time to answer your FUD.

Please don't label it as FUD, this is a real concern of him, so answer it in a normal manner...

[Daedelus]

Just a reminder, we need devs to help CIYAM test AT.  Please post if you can help, it's a very important project and we need all available resources helping CIYAM.

https://nxtforum.org/automated-transactions/information-of-the-at-project/

http://ciyam.org/open/?cmd=view&data=20140220164742097000&ident=M100V137&chksum=065ecf7d

Do we need 'proper' testers or can click-around-and-hope-for-the-best testers be useful?

At this point he needs proper dev testers.  It's a fairly technical project and there is no UI for the layman to test (like AE).  

I believe he needs coders to write unit tests (java coders).

Let me know when you need the latter group!

[lophie]

Lophie,

I dare you to come to https://nxtforum.org and talk with Come-from-Beyond about this.

But I don't know if he has time to answer your FUD.

When I have time to arrange my arguement and thoughts, sure I love to be proven wrong how else would I learn . Just ask no need to "dare" or anything.

[farl4web]

We can't change it, so just see what happens. We'll talk later after the launch of nxtQuant. I have trust!  

[farl4web]

Lophie,

I dare you to come to https://nxtforum.org and talk with Come-from-Beyond about this.

But I don't know if he has time to answer your FUD.

When I have time to arrange my arguement and thoughts, sure I love to be proven wrong how else would I learn . Just ask no need to "dare" or anything.

Thanks for these wise words! 

[Conurtrol]

Lophie,

I dare you to come to https://nxtforum.org and talk with Come-from-Beyond about this.

But I don't know if he has time to answer your FUD.

Please don't label it as FUD, this is a real concern of him, so answer it in a normal manner...

Maybe he shouldn't scream Scam before he asks a few questions and figures things out.

[Fatih87SK]

Lophie,

I dare you to come to https://nxtforum.org and talk with Come-from-Beyond about this.

But I don't know if he has time to answer your FUD.

When I have time to arrange my arguement and thoughts, sure I love to be proven wrong how else would I learn . Just ask no need to "dare" or anything.

Ok guys.

Sorry for my words.

We'll love to see you there and talk about this with all of the developers. Because the developers are mainly active in our own forum.

[Eadeqa]

Then "after a while" take every dollars and cut it to 100000 part where each part also works in this currency system.

What that would mean is that 100000 part would be equal to 1 dollar. In fact, since more people would use all these smaller parts,  it would in fact increase the value of 1 dollar. It's not dilution. If anything, it will increase the value of 1 dollar

[Daedelus]

Delution of the money supply.................... I loved nxt till now........ how are we still tolerating this BS???

Why are you saying this Lophie? Or even this?:

I just noticed the dilution. I am very disappointed. NXT has no future but as a SCAM coin because of this. It is gicing more trouble than what it is trying to fix.

What "dilution" are you talking about? What have just happened to change your mind???

• NQT (nxtQuant)
  nxtQuant, or 0,00000001 NXT, goes live at block 132,000.

For every single reason that makes me believe in bitcoin, now is making me tell you all. NXT is a JOKE. You had something good and took it too far, you broke it.

BCNxt is a genius of approached a problem very nicely (mining in a 100% proof of stake). The initial spread of the NXT was not the best (I have better suggestions to post later) but it is still accepted. Maybe you all forgot suddenly but bitcoin is making money out of thin air and this is why everyone is losing their minds about it all over the globe. It got attraction because for the people who understands the economics involving bitcoin find it very sound.

Good luck going anywhere toward a main stream crypto when you increase the money supply by 10^6 at a certain block, forcing all users to adopt the chain by unifying the client from one source and giving existing owners of 100% of the supply 10^6 more tokens in the system in a flash? You really expect the price to "increase" and "to the moon"? Get real!

What do you provide? asset exchange and other features? the source is open and actually a smaller well connected forked network will perform better for the asset exchange NXT is offering.

Congrats guys, Block 132,000 is the death of nxt as a crypto "currency". Maybe it will survive as something else but it definitely dead in my eyes as a decenteralized crypto currency. Even NovaCoin suffered less than what NXT would, very soon.........

suggestion? reboot the network, new genesis; or stop the delution before it hits.

Oh dear... I think someone has reacted prematurely

I'm still behind a page so don't know how this turns out!

[mikesbmw]

It's like saying that if you have $100 bill, and you convert it to 100000 cents , you just diluted your money.

There is no logic to to that claim as $100 = 100000 cents

okay, now assume there is only a fixed amount of dollars that no one can make more, ever. Imagine the distrbution to 70 people from the start. Then "after a while" take every dollars and cut it to 100000 part where each part also works in this currency system. Add to that that this dollar system is open source where the services it provides can be copied and adopted in a new system which can be launched at any moment.

Now the goal is to keep users on THIS CHAIN not THIS TECHNOLOGY, make it work.

Interesting argument... Hmmm. There is some truth to this.

I see your problem, because it indirectly decreases the trading value for one whole NXT. Because now people have the option to trade a fraction of 1 NXT i.o. 1 whole NXT.

How would you try to work around the following scenario: 1NXT = $10. I want to buy something which is worth $1. How would you do this?
1. things would get crazy expensive to buy with NXT or 2. you need to allow decimal places.

[lophie]

Just a quick reply to the ones who claim it will make tx cheaper. 0.01NXT (the min in current implementation) would make nxt 10 times cheaper than bitcoin which means when NXT is 10 times the current exchange rate against bitcoin it is STILL as cheap.

Because the mining paradigm is very different from bitcoin (no need for a market between miners and transactors), There is no need to worry about it getting "expensive", unless it gets INSTANE attraction (traffic and transactions) tens and hundreds in multitudes than bitcoin.

[Eadeqa]

I see your problem, because it indirectly decreases the trading value for one whole NXT. Because now people have the option to trade a fraction of 1 NXT i.o. 1 whole NXT.

It doesn't decrease the value of whole nxt. It increases it as  your one nxt is equal to 100000000 nqt. If many more new users start trading in NQT, you who once held 1 nxt got richer.

[ChuckOne]

(Sorry for interrupting the discussion)

Nice thread. +1440

Good to have some form of advertising back on BTT.

[lophie]

It's like saying that if you have $100 bill, and you convert it to 100000 cents , you just diluted your money.

There is no logic to to that claim as $100 = 100000 cents

okay, now assume there is only a fixed amount of dollars that no one can make more, ever. Imagine the distrbution to 70 people from the start. Then "after a while" take every dollars and cut it to 100000 part where each part also works in this currency system. Add to that that this dollar system is open source where the services it provides can be copied and adopted in a new system which can be launched at any moment.

Now the goal is to keep users on THIS CHAIN not THIS TECHNOLOGY, make it work.

Interesting argument... Hmmm. There is some truth to this.

I see your problem, because it indirectly decreases the trading value for one whole NXT. Because now people have the option to trade a fraction of 1 NXT i.o. 1 whole NXT.

How would you try to work around the following scenario: 1NXT = $10. I want to buy something which is worth $1. How would you do this?
1. things would get crazy expensive to buy with NXT or 2. you need to allow decimal places.

you add one as you needed it, market it for a long while, wait for the fork to start and hope to god the main chain would die.

[jztxeno]

NXT will always be in my heart.

[Daedelus]

I don't see the logic in these arguments

Just to be clear, everyone knows we're going from 1000000000 to 1000000000.00000000NXT

And not 1000000000 to 100000000000000000 NXT, right?  < this one is dilution

The transaction fee won't change immediately. So it will be 1NXT before the change and 100000000 NQT (or 1 NXT) just after the changed.

Am I missing something?

[ChuckOne]

NXT will always be in my heart.

Nice. 

[stdset]

Good to see NXT is highly divisible now. One of two basic features NXT was lacking is finally implemented. Well done! The other very basic feature, which is a must - checksummed addresses, hopefully it will soon be implemented too.