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Author Topic: Thinking of starting a loyalty based crypto for my business. Questions!  (Read 1334 times)
princesultan1
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October 26, 2014, 01:37:14 PM
 #21

If you create your own coin and don't use some other coin's network, you'll have to maintain your own network. That's why NXT makes it easy not only to create a coin but also maintain it, it relies on 11 month track record of NXT network. Of course you can create your coin on top of Counterparty, but it relies on Bitcoin network and that one is slower. Counterparty is also an option, but 5x slower to process transactions on average than NXT.

dogeparty is also an option if you want to go that route.

Right. But they haven't enabled trading yet. Not sure if the OP needs to trade their coin.

i'm thinking that trading the coin could be something that would make it interesting but i'm not sure exactly yet. still trying to wrap my head around that. what's your thoughts about being able to trade a loyalty based coin? especially if it would be geared for the industry as a whole...

or maybe i'm just getting ahead of myself talking about the industry as a whole. i guess i would want to future-proof the coin in case i decide to go a certain route.
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October 26, 2014, 01:46:59 PM
 #22

i'm thinking that trading the coin could be something that would make it interesting but i'm not sure exactly yet. still trying to wrap my head around that. what's your thoughts about being able to trade a loyalty based coin? especially if it would be geared for the industry as a whole...

or maybe i'm just getting ahead of myself talking about the industry as a whole. i guess i would want to future-proof the coin in case i decide to go a certain route.

If the services people can buy in your business for this coin are useful to people, then there can be demand for the coin and trading could be successful.
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October 26, 2014, 02:07:18 PM
 #23

If you create your own coin and don't use some other coin's network, you'll have to maintain your own network. That's why NXT makes it easy not only to create a coin but also maintain it, it relies on 11 month track record of NXT network. Of course you can create your coin on top of Counterparty, but it relies on Bitcoin network and that one is slower. Counterparty is also an option, but 5x slower to process transactions on average than NXT.

dogeparty is also an option if you want to go that route.

Right. But they haven't enabled trading yet. Not sure if the OP needs to trade their coin.

i'm thinking that trading the coin could be something that would make it interesting but i'm not sure exactly yet. still trying to wrap my head around that. what's your thoughts about being able to trade a loyalty based coin? especially if it would be geared for the industry as a whole...

or maybe i'm just getting ahead of myself talking about the industry as a whole. i guess i would want to future-proof the coin in case i decide to go a certain route.

Allowing coin trading could be useful for a loyalty system......that would alllow customers to both cash in their SultanPoints ( Wink ) and, on the other hand, to buy in more SP if they needed more for a particular purpose (like needing 200 more SultanPoints to get that flight to Hawaii...)

Allowing coin mining could be a disaster, though. Having your loyalty coins supply (and thus price) determined by miners who have no investment in your system could cause some serious problems.

As for the rest of the 2nd gen crypto-currencies, such as MasterCoin, Ethereum, Counterparty, NEM, Qora......take a  look at this:
http://coinmarketcap.com/assets/

Most of the assets/tokens in that list are from either Nxt (22 out of 32) or Counterparty (5 of 32), with a couple from MasterCoin and BitShares......Nxt is simply the best system to use right now.   

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
princesultan1
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October 26, 2014, 02:57:31 PM
 #24

If you create your own coin and don't use some other coin's network, you'll have to maintain your own network. That's why NXT makes it easy not only to create a coin but also maintain it, it relies on 11 month track record of NXT network. Of course you can create your coin on top of Counterparty, but it relies on Bitcoin network and that one is slower. Counterparty is also an option, but 5x slower to process transactions on average than NXT.

dogeparty is also an option if you want to go that route.

Right. But they haven't enabled trading yet. Not sure if the OP needs to trade their coin.

i'm thinking that trading the coin could be something that would make it interesting but i'm not sure exactly yet. still trying to wrap my head around that. what's your thoughts about being able to trade a loyalty based coin? especially if it would be geared for the industry as a whole...

or maybe i'm just getting ahead of myself talking about the industry as a whole. i guess i would want to future-proof the coin in case i decide to go a certain route.

Allowing coin trading could be useful for a loyalty system......that would alllow customers to both cash in their SultanPoints ( Wink ) and, on the other hand, to buy in more SP if they needed more for a particular purpose (like needing 200 more SultanPoints to get that flight to Hawaii...)

Allowing coin mining could be a disaster, though. Having your loyalty coins supply (and thus price) determined by miners who have no investment in your system could cause some serious problems.

As for the rest of the 2nd gen crypto-currencies, such as MasterCoin, Ethereum, Counterparty, NEM, Qora......take a  look at this:
http://coinmarketcap.com/assets/

Most of the assets/tokens in that list are from either Nxt (22 out of 32) or Counterparty (5 of 32), with a couple from MasterCoin and BitShares......Nxt is simply the best system to use right now.   

I see. So are you saying you prefer a 100% premine coin?

Also, I can't say I'm too fond of Nxt as a place to launch this.
cassius69
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October 26, 2014, 02:59:13 PM
 #25

don't bother....

crypto is not popular with 'regular people' and you will spend too much time trying t o educate them to be worth it.

EvilDave
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October 26, 2014, 03:23:09 PM
 #26

don't bother....

crypto is not popular with 'regular people' and you will spend too much time trying t o educate them to be worth it.

You don't have to tell them that it's based on a crypto system.
From most customers point of view, the system could just work exactly like AirMiles...scan your card, get your points, redeem your points.
The more crypto features (like trading) don't have to be used by everyone.

@princesultan1:

Nxt has been running smoothly for almost a year now, and has a massive community with a lot of projects based on the Nxt platform.
Check out our main forum here:
www.nxtforum.org
and take a look for yourself.......

There have been a lot of attacks on Nxt here on BTT, but 90% of that has been pure bulls**t.
Nxt isn't perfect yet, but it is a very solid, promising system.

If you're really not into using Nxt, one of the (probably non-scammy) Nxt clones like NeXT Horizon (NHZ) or Nxt Fair Distribution (NFD) can also offer the same features, but with a much smaller network/community support.



Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
princesultan1
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October 26, 2014, 04:39:35 PM
 #27

don't bother....

crypto is not popular with 'regular people' and you will spend too much time trying t o educate them to be worth it.

You don't have to tell them that it's based on a crypto system.
From most customers point of view, the system could just work exactly like AirMiles...scan your card, get your points, redeem your points.
The more crypto features (like trading) don't have to be used by everyone.

@princesultan1:

Nxt has been running smoothly for almost a year now, and has a massive community with a lot of projects based on the Nxt platform.
Check out our main forum here:
www.nxtforum.org
and take a look for yourself.......

There have been a lot of attacks on Nxt here on BTT, but 90% of that has been pure bulls**t.
Nxt isn't perfect yet, but it is a very solid, promising system.

If you're really not into using Nxt, one of the (probably non-scammy) Nxt clones like NeXT Horizon (NHZ) or Nxt Fair Distribution (NFD) can also offer the same features, but with a much smaller network/community support.




i feel that nxt is doing some pretty cool things, but i also don't want to rely on ntx. i'd rather launch something independent.
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