rpietila Altcoin Observer

[devphp]

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/

[1714158939]

1714158939

[1714158939]

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[Este Nuno]

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/

Yeah, I meant more along the lines of growing in volume. I think the asset exchange is an amazing development and one of the defining features of NXT.

I think it's pretty cool that I could go right now and buy a token that represents an oz of silver on there.

[spud21]

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/

Does the gateway keeper have to manually send out coins for each sale?

[digicoin]

Ben Lawsky's comments yesterday really are going to push the anonymous coins to the forefront imo, but I think we all saw that coming.

Strongly suggest reading Eric Voorhees article regarding that here. (Glad this guy has a ton of BTC)
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/

Tell him about XMR https://twitter.com/ErikVoorhees

[devphp]

Does the gateway keeper have to manually send out coins for each sale?

He needs to send only deposits and withdrawals (redemptions of an asset), that's what he charges a fee for, but once deposited - all trades on the exchange are automatic and can go for a long time until someone decides to withdraw. Deposits and withdrawals can have a minimum limit, so he doesn't waste time on very small amounts.

[Este Nuno]

Does the gateway keeper have to manually send out coins for each sale?

He needs to send only deposits and withdrawals (redemptions of an asset), that's what he charges a fee for, but once deposited - all trades on the exchange are automatic and can go for a long time until someone decides to withdraw. Deposits and withdrawals can have a minimum limit, so he doesn't waste time on very small amounts.

Plus I'm sure someone could write something that automates the redemption process eventually. I don't know what NXT has in the way of API support going but if it's not at that point yet I'm sure it will be soon. Same goes for XMR.

[devphp]

Plus I'm sure someone could write something that automates the redemption process eventually. I don't know what NXT has in the way of API support going but if it's not at that point yet I'm sure it will be soon. Same goes for XMR.

There is a Multigateway (https://nxtforum.org/nxtservices-releases/), that supports automatic deposits and withdrawals, but only for bitcoin clones (BTC, LTC, Doge and something else). XMR is a different animal, but sure, all APIs are there, just need a coder who would be willing to undertake the job.

As for a manual gateway, you don't have to be a coder, it's easy to set up and operate. One optional but desirable prerequisite would be high reputation on this forum, so people can trust the gateway keeper to process their funds.

EDIT: they just released a multigateway website too.
Announcement:
https://nxtforum.org/index.php?topic=3797.0
Website:
http://multigateway.com/

[Este Nuno]

devphp mentioned Qora being on the NXT AE. Why isn't Qora more popular? Seems to be floating along so far not making too much of a splash.

Anyone here own any Qora or have a theory as to why it doesn't seem to be catching on yet? Does it still need more development and features first?

[devphp]

devphp mentioned Qora being on the NXT AE. Why isn't Qora more popular? Seems to be floating along so far not making too much of a splash.

Anyone here own any Qora or have a theory as to why it doesn't seem to be catching on yet? Does it still need more development and features first?

Qora is interesting, but has a few issues: 1) closed source; 2) still has syncing issues and annoying bugs; 3) no demand generating features yet (voting, naming service but those are less important features);

I consider Qora and NEM as backups for NXT. All three are PoS (well, NEM is a variation of PoS - PoI), but Qora and NEM need to run a few months on live net. They may be convenient to have a small stake in in case something fatal happens to NXT.

[spud21]

devphp mentioned Qora being on the NXT AE. Why isn't Qora more popular? Seems to be floating along so far not making too much of a splash.

Anyone here own any Qora or have a theory as to why it doesn't seem to be catching on yet? Does it still need more development and features first?

The last time I checked the dev had not got someone to make the GUI look pretty and was still half way through adding all the features he had promised. I'm hoping it catches on when he's finished developing it a bit more. I notice Nas is catching on a bit now the dev has added more features, so maybe Qora will go the same way.

[aminorex]

Qora is interesting, but has a few issues: 1) closed source

OK, you can stop right there.

[superresistant]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

Looks much more legit than the Maidsafe scam.

BUT...I would not send any penny until I see the final product.

[ejinte]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

As I wrote in another thread, something similar to Storj could easily be built on maidsafe

[smooth]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

Looks much more legit than the Maidsafe scam.

Please explain what you call the Maidsafe scam. I'm not familiar with it.

[superresistant]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

Looks much more legit than the Maidsafe scam.

Please explain what you call the Maidsafe scam. I'm not familiar with it.

IPO while not product. Still nothing. Just promises.
The IPO was used to pump & dump Mastercoin.
Most investors lost money.

[drawingthesun]

Check out filecoin, it might offer something interesting in the harddiskcoin space.

http://filecoin.io

http://filecoin.io/filecoin.pdf

https://news.ycombinator.com/item?id=8054571

[superresistant]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

Looks much more legit than the Maidsafe scam.

Please explain what you call the Maidsafe scam. I'm not familiar with it.

IPO while not product. Still nothing. Just promises.
The IPO was used to pump & dump Mastercoin.
Most investors lost money.

you are too hostile to Maidsafe. it is not a scam! https://maidsafe.org/
and the price of Maidsafe is more than 5000satios, higher than the IPO price.

The day I will be able to use Maidsafe, I'll change my statement. Until then it has no value.

[nakaone]

what you guys think about Storj, especially compared to MaidSafe?
http://storj.io/

Looks much more legit than the Maidsafe scam.

Please explain what you call the Maidsafe scam. I'm not familiar with it.

IPO while not product. Still nothing. Just promises.
The IPO was used to pump & dump Mastercoin.
Most investors lost money.

you are too hostile to Maidsafe. it is not a scam! https://maidsafe.org/
and the price of Maidsafe is more than 5000satios, higher than the IPO price.

I have to admit that I like the general of maidsafe as well as of storj - it just does not make sense to use a new currency, like (maid)safecoin or whatever storj is using. It would be much better if they would use bitcoin. I see their reasoning for fundraising to generate a new currency, but after that it just does not make sense

[drawingthesun]

Maidsafe are having trouble because they are trying to solve the harddiskcoin problem and also trying to reinvent the blockchain.

I was turned off of the project because they are trying to build a system where there is no ledger and as long as a set of nodes see a transfer, that then propagates throughout the network and updates the nodes that a coin is now owned by the new owner and not the old one. However they want all of this to happen without the use of a blockchain.

So they are trying to reinvent the wheel so to speak. Perhaps their ideas have merit but until they drop it and focus on building the proof of resource side of the network and making the coin transfer more conventional, I cannot support them any longer.

I think making a Maidsafe v1 where it has proof of resource but the transfer system and control structure (where what is for example) is stored on a blockchain is a better way to go. Once this Maidsafe v1 works, they can move onto v2.

Maidsafe v2 is the one where they then reinvent the cryptocurrency ledger and do away with the blockchain altogether.

Like I said, instead of being realistic and trying to invent just one thing, they are obsessed with building a system that requires reinventing everything.

[iourzzz]

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.

Well, for a gateway keeper there is an opportunity to make money regardless of what the price is doing, the gateway keeper charges 0.5% (arbitrary but reasonable fee) on all deposits and redemptions. The gateway keeper just needs initial supply of XMRs to act as the first market maker, but later other XMR holders would deposit into the gateway to add to liquidity of the asset.
Here is an example of how Qora gateway is set up:
https://nxtforum.org/assets-board/qora-on-nxt-asset-exchange/

Am I right that something similar can be also realized on Counterparty decentralized exchange?
https://wiki.counterparty.co/w/Assets