Nxt Monetary System launched: Now on Nxt Testnet!

[msin]

This is going to be the most interesting Nxt feature thus far, truly unique and a thousand possibilities.  Can't wait to try it out (updating TestNet client)

[mkmen]

Crowdfunding in completely transparent and decentralized way? Sounds like a great use case to me, more ideas will come, I'm sure.

I don't really understand the PoW minting inside PoS currency, but hey, old habits die hard I guess.

[ChuckOne]

ORA will be launching as an MS currency in the not too distant future!

What do you further plan on top of ORA? Will it have some special properties?

We're still working on that, and actively taking suggestions. The core ORA team have been brain storming for quite a while, and it's like our holy grail, "what will people use ORA for, what problems does it solve, how does it make people's lives better?".

We're working on the assumption that we don't necessarily have to have all the answers before we proceed, as long as it's really really obvious to everyone that we're NOT a scam or joke, and so investing time & effort into ORA isn't going to be a bad experience. I think after more than 6 months, with no IPO/ICO etc it should be obvious that we're serious about this project, and our invitation to everyone and anyone to join ORA is sincere.

We don't have ALL the answers (or even the majority of them) but we have built a decent community framework so far, and that gives me confidence that over time new people will join ORA, and some of those people WILL have great ideas!!

ORA is a starfish, no leader, just a trajectory

I look forward to your suggestions and conclusions. I guess ORA could be a blueprint currency when MS is released on the mainnet. Others could be inspired for their own currencies.

[ChuckOne]

Crowdfunding in completely transparent and decentralized way? Sounds like a great use case to me, more ideas will come, I'm sure.

Indeed. People should know about this. I wrote an [img=http://nxter.org/nxt-for-financial-experts-local-groups-and-cryptofans/]http://article[/img] but I think we need to address directly the people who need such a crowdfunding platform. There are so many people out there and when I talk to them and explain all of this, they simply say:

"Why does nobody know about this?"

And I am like: "??" I do not know what to answer then.

I don't really understand the PoW minting inside PoS currency, but hey, old habits die hard I guess.

Sure but all people are welcome.

[freenxt.org]

Very nice, I have to get some more testnet to test it out now!

[youyou_]

hope this will point that NXT is very superior to many coins

[lucky88888]

interesting, will test to see how its like!

[ThomasVeil]

This is going to be the most interesting Nxt feature thus far, truly unique and a thousand possibilities.

My thought too! Hope it is flexible enough so that the MS coins can get unique features and innovations.
Curious to see the POW system working.

[foxbitcoin]

Very nice ,That really is HUGE

[Juicemixer]

At the moment we're working on a proposal suggested by coinsolidation (bitmark dev) to let holders of dead & dying alt coin 'burn' their coins in exchange for ORA coins.

I have so many worthless coins to burn. If you pull this off I'll be all over this ORA coin.

[Kora]

At the moment we're working on a proposal suggested by coinsolidation (bitmark dev) to let holders of dead & dying alt coin 'burn' their coins in exchange for ORA coins.

I have so many worthless coins to burn. If you pull this off I'll be all over this ORA coin.

Great attitude, music to my ears

[freenxt.org]

This is going to be awesome. I am already preparring. Please dont release before 2015 so I can enjoy new years eve and family before all the squatting starts

[slothbag]

Very interesting concept.. Nxt is still searching for its niche in the crypto world, with so many features its bound to find one soon!

[msin]

Very interesting concept.. Nxt is still searching for its niche in the crypto world, with so many features its bound to find one soon!

That's a very good point.  I think the success of Nxt AE has filled a void but I expect MS to really take off, it's an original BCNext idea.

[LiQio]

Just reposting from nxt forum:

GJ devs, open node here:

http://5.196.1.215:6876/index.html

If you want to play with it but don't have the time to setup one.

Cool, thanks!

(As a reminder, don't use your real password testers)

[Daedelus]

@ChuckOne

Cool. I have a suggestion for a new property, someone was asking about it on Nxtforum. We have provision for those that want a POW coin but someone asked about POS+Inflation i.e. the supply is inflated at a set (or variable I suppose, like BTC) rate over time. I don't like inflation coins (I don't like POW either  ) but lots of other people do.

So, does MS currently cover the scenarios:

1a) "I want a POS coin that has 1min blocktime, each block issues new coins that give an annual percentage inflation of X%"

and

1b) "I want a POS coin that has 1min blocktime, each block issues new coins that give an annual percentage inflation of A% for the X years, then reducing A-B% for the next Y years." < option of variable or linear reductions rate would probably be good


I looked at the spec and I didn't think it did. Maybe a the first new property after initial release?

[Este Nuno]

Awesome stuff!

Looking forward to ORA on the MS too. 

[ShroomsKit_Disgrace]

This could be huge for cryptos.

[qqNxt]

Did someone say decentralized crowd funding platform?

You can say that again! 

[NoobKidOnTheBlock]

So is this pretty much a way to make your own coins? or what is the deal with this?