| Nxt | Blockchain Platform | Proof of Stake | Official

[Daedelus]

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

nxt should always be used as "the money" inside of the nxt ecosystem because the security of the network is atleast partially a function of the price of nxt.

the 1 billion amount can never be changed except with a hard fork. just like bitcoin.

https://nxtforum.org/general/%27pos-stands-for-something-other-than-%27stake%27%27/

Here I read from allbits:
    "The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term."

CfB answers:
"Antideflation is the last key element of Nxt. It's supposed to solve this problem."

Does this mean that Nxters in the end want to inflate the Nxt supply somehow?

"Antideflation" == Inflation?

No.

[durerus]

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

nxt should always be used as "the money" inside of the nxt ecosystem because the security of the network is atleast partially a function of the price of nxt.

the 1 billion amount can never be changed except with a hard fork. just like bitcoin.

https://nxtforum.org/general/%27pos-stands-for-something-other-than-%27stake%27%27/

Here I read from allbits:
    "The reason why having a fixed never-growing supply is undesirable is obvious: it encourages wealth concentration and creates a static community of holders without an effective way for new people to get in, and it means that the coin has no way to incentive any specific kind of activity in the long term."

CfB answers:
"Antideflation is the last key element of Nxt. It's supposed to solve this problem."

Does this mean that Nxters in the end want to inflate the Nxt supply somehow?

"Antideflation" == Inflation?

No.

Inflation is the expansion of Nxt supply IMO. Maybe by saying antideflation is not inflation CfB has a different concept of inflation: inflation as a rise in price of Nxt measured in something else. Than with increasing the Nxt supply you could keep the price stable which would rise otherwise. From my perspective it would be very sad, if Nxt did not have a stable supply of 1 billion, since I see Deflation (of price) just as Voluntold. So could you please clarify what CfB means? Does he want to increase the Nxt supply some day?

[devphp]

So could you please clarify what CfB means? Does he want to increase the Nxt supply some day?

No, NXT supply will stay the same, NXTs can only be destroyed when they are sent to the Genesis account, new NXTs cannot be created.

Here is a link for you that answers most questions on the antideflation that CfB is talking about:
https://nxtforum.org/monetary-system/how-does-the-nxt-monetary-system-work/

[apenzl]

What's going on?

http://nxter.org/nxt-newsletter-13/

[durerus]

So could you please clarify what CfB means? Does he want to increase the Nxt supply some day?

No, NXT supply will stay the same, NXTs can only be destroyed when they are sent ot the Genesis account, new NXTs cannot be created.

Here is a link for you that answers most questions on the antideflation that CfB is talking about:
https://nxtforum.org/monetary-system/how-does-the-nxt-monetary-system-work/

Thank you so much for that link! That clarifies it. I am happy again now So that means that hard money advocates can use the hard money Nxt while Freicoin-like guys can create their price stable money on top of Nxt? Great! I like Nxt more every day

[Daedelus]

So could you please clarify what CfB means? Does he want to increase the Nxt supply some day?

No, NXT supply will stay the same, NXTs can only be destroyed when they are sent ot the Genesis account, new NXTs cannot be created.

Here is a link for you that answers most questions on the antideflation that CfB is talking about:
https://nxtforum.org/monetary-system/how-does-the-nxt-monetary-system-work/

Thank you so much for that link! That clarifies it. I am happy again now So that means that hard money advocates can use the hard money Nxt while Freicoin-like guys can create their price stable money on top of Nxt? Great! I like Nxt more every day

Tell your friends 

[Ramone Estavez]

Would it be possible to run a cryptonote based coin on top of NXT? Does that even make sense? I read that often, that POW coins can run on top of NXT, but I still don't get how that works exactly. If a CN coin *could* run on NXT (whatever that means) would its transactions be anonymous? If yes, then that makes a powerful combo.

NXT & Monero look the best coin long term, so if you could combine them , wow!! I want to know more about 'coins on top of NXT'  .... how does it work,  what can be done with those coins?

[devphp]

Would it be possible to run a cryptonote based coin on top of NXT? Does that even make sense? I read that often, that POW coins can run on top of NXT, but I still don't get how that works exactly. If a CN coin *could* run on NXT (whatever that means) would its transactions be anonymous? If yes, then that makes a powerful combo.

NXT & Monero look the best coin long term, so if you could combine them , wow!! I want to know more about 'coins on top of NXT'  .... how does it work,  what can be done with those coins?

I believe, the best thread to ask this question is here, only CfB can answer at this time, but he doesn't visit bitcointalk now.

https://nxtforum.org/monetary-system/pow-currencies-on-top-of-nxt/

Not sure if you can marry NXT and Monero, but the Monero code is open source, right? You can start another monero backed by NXTs or something, but better go to that link and ask CfB himself.

[Daedelus]

devphp is right, that part of Nxt is known as Monetary System. The link above is part of the subforum here > https://nxtforum.org/monetary-system/



Here is an intro to Monetary System:

1. How can NXT users create their own currency?

By issuing a single transaction that says "At height X lock all nxts spent for creation of currency Y and issue Z coins".

2. How does the locking work?

All "burned" NXTs r locked until newly created coins not destroyed. If u destroy 7% of the supply then u get 7% of the locked NXT to ur account.

3. You can take-out NXT from the locked account (by burning NXT) but can you also later put in NXT and get more of that currency.

Only take-out, u can't inflate the supply by locking more nxts.

4. Will this be integrated with the Asset Exchange (will there be a forex to trade between the different currencies)?

All transaction types that use NXT can be used with such "subcurrencies", but transaction fee will paid in NXT anyway.

5. Who will make this? Are you building this Come-from-Beyond?

Me. I'll wait when Jean-Luc adds "satoshi" and then continue.

And 'Satoshi' (NXTQuant) has been added to Nxt.

This is taken from https://nxtforum.org/monetary-system/how-does-the-nxt-monetary-system-work/ and there are follow up questions there.

[nxt2damoon]

NXT to da moon
We is da best in da world bro
 why you delete 2 my post : I talk good thing nxt all time
Me no like bad trolls dat say we is a scam or retards wid da FUD

[skylys]

And 'Satoshi' (NXTQuant) has been added to Nxt.

This is taken from https://nxtforum.org/monetary-system/how-does-the-nxt-monetary-system-work/ and there are follow up questions there.

(NXTQuant) has been added to Nxt.
So it is NTQ....

[devphp]

NXT has many features, now even its own NXTCircuS with its own NXTClowN (nxt2damoon)

[Ezravdb]

July will be a good month:

Nxtty app
Android Wallet
NXT Mania Games (maybe)
NRS 1.2 (probably)
NXTHaus
GoCoin implementation (if they are fast enough)
Coinomat.com

[farl4web]

I love July! 

[devphp]

I love July! 

NXT/BTC went up over 25% in June so far, from 9362 sat on June 1, so June is great too

[theironman]

[Tai Zen]

If you are a current user, investor, trader, or new to the NXT platform and it's community, here is an opportunity to join us today LIVE on Youtube Livestream starting at 11am New York time to get the latest updates and progress about the NXT platform straight from the folks working on it:

https://www.youtube.com/watch?v=PLrUNuX-NjE&feature=youtu.be

In this week's update, the focus will be on the PayExpo event in London.

We will update everyone on the Cointropolis investigation.

Upcoming projects, etc.

Don't miss this LIVE update and get left behind!

If you are currently helping to develop or promote the NXT platform, you can join the Google Hangout and update the NXT community with your current projects here:

https://plus.google.com/hangouts/_/ytl/vjVQa1PpcFOoNA2US0A3gcxvFY79TVJuGLuOwOkoyII=?authuser=0&eid=100018920737973592268&hl=en_US

If you do not have anything to share with the NXT community on the Google Hangout, please be courteous and use the Youtube Livestream link since there is only room for 10 participants on Google Hangouts.

Let's have some fun and talk to you soon!

Tai Zen

[ChuckOne]

Are we ddos'ed? nxtforum is not responding...

[devphp]

Are we ddos'ed? nxtforum is not responding...

Must be your ISP, works fine here.

[ChuckOne]

Working again. I am confused. Why is BCT working, NxtForum not and sometimes the other way round.. Makes no sense.