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Topic: Need help with my NXT. What with the 2.0 stuff? (Read 1190 times)

sr. member
Activity: 448
Merit: 250
I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?

That would be the safest way to do it. However, there are some negotiations ongoing.

Friendly exchange reminder. If you store your coins on an exchange, all you have is an IOU at that point. Some people like to gamble more than others.
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?

That would be the safest way to do it. However, there are some negotiations ongoing.
sr. member
Activity: 406
Merit: 250
Good topic.

I would like to ask how it is with assets. All my NXT is currently in form of NXT assets I own. What will happen with those when NXT 2.0 will launch?

Quote
Existing Nxt 1.0 Assets or Asset Transaction History will NOT be ported directly to the FNX Child Chain.
Since the Nxt 1.0 blockchain will continue to exist, the Core Team believes it is better to leave the choice of when and how to move to Nxt 2.0 in the hands of the Asset Issuers themselves.
This is probably best done by burning existing Assets, requiring them to be sent to the issuer account in order to issue new Nxt 2.0 Assets in exchange. Or it could be done by each asset issuer declaring a height at which they will take a snapshot of 1.0 asset balances, and then re-distributing those on 2.0.
Assets will be universal on Nxt 2.0, which means that for any Asset, regardless on which Child Chain it was originally issued, any Child Chain that will allow its trade will be able to trade it.
http://nxt.org/roadmap/
sr. member
Activity: 477
Merit: 250
Blockchain Just Entered The Real World
Good topic.

I would like to ask how it is with assets. All my NXT is currently in form of NXT assets I own. What will happen with those when NXT 2.0 will launch?
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?

Negotiations are in progress with exchanges
legendary
Activity: 1092
Merit: 1010
We are talking to exchanges about the Ardor release.
To be absolutely sure, always keep your coins (any coins really) in your own wallet.
We'll give you updates about this specific issue once we have talked this through with all the exchanges that carry Nxt Smiley
sr. member
Activity: 406
Merit: 250
I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?

This is what the official announcement says.
https://nxtforum.org/index.php?topic=11475.msg219422#msg219422
Quote
For balances on exchange accounts, it will be up to each exchange to handle the re-distribution of the ARDR tokens that will get automatically sent to the exchange account at snapshot end.

To avoid issues it's easy to create an account in the web wallet and withdraw. Exchange is always a third party risk, search for Mt.Gox.
hero member
Activity: 535
Merit: 500
I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor

http://nxt.org/roadmap/

Thanks, I will repost this in another thread. Not sure how I could miss it.
sr. member
Activity: 406
Merit: 250
Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor

http://nxt.org/roadmap/
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor
sr. member
Activity: 406
Merit: 250
Are the ditributions of the 2 new tokens both based on the snapshot from juli on?

Snapshots of balances will be made every hour. To get a full 100% share of ARDR you must keep coins in your account for 90 days, July 14th to October 12th. If you keep them less than 90 days between these dates you will still receive ARDR but less.

Suppose you buy 10,000 coins on July 24th and keep them until October 12th, = 80 days. You will receive about 89% of ARDR. For best results store them in a cool dry place, guys, for 90 days Smiley

For NXT 2.0 default child chain coins the distribution will be based on your balance when NXT 2.0 is launched in 2017.
Don't dump your NXT after the snapshot period. You will need them to get the first child chain token FNX at the ratio 1:0.5 when Ardor launches in Q3 2017.
member
Activity: 84
Merit: 10
Are the ditributions of the 2 new tokens both based on the snapshot from juli on?
sr. member
Activity: 406
Merit: 250
me too Smiley

THanks for the help!!


Quote
You can use a web wallet to create an account https://wallet.mynxt.info

I have this webwallet, so I don't have to do anything until october?

You should be fine, remember the passphrase Wink
sr. member
Activity: 406
Merit: 250
Ok that makes sense. Is that a share of ALL future NXT 2.0 child chains? If that's the approach, it reminds of what Bitshares tried with the social consensus.

It's a 50% share of the NXT 2.0 default child chain and 100% ARDR parent chain tokens, to be launched in 2017.

Future child chains are two years away in the future, there is no indication in the NXT 2.0 roadmap that current holders will receive a share in them too, it would be too much to ask Smiley
sr. member
Activity: 448
Merit: 250
Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?

Investor keeps both, actually three products:
a) 1.0 coins, core developers pledge to maintain 1.0 for 2 years at least, with bugfixing releases. Probably longer if there is demand and resources.
b) 2.0 ARDR tokens for the parent chain to rule future child chains. If you buy a stake before July 14th, you get 1:1. Three weeks are left to take advantage of the full offer.
c) NXT 2.0 child chain (0.5:1).

suppose you buy 10,000 coins before July 14th, you will have 10,000 nxt 1.0 coins, on Oct 12th you will receive 10,000 ARDR assets later to be turned to 10,000 ARDR forging tokens in the parent chain and 5,000 NXT 2.0 child chain coins.

Should you buy a stake between July 14th and October 12th, you will still get ARDR but because snapshots of the balance will be taken every hour you will receive more ARDR the sooner you buy a stake. Hope I wasn't too confusing with my explanation, don't hesitate to ask questions.

Ok that makes sense. Is that a share of ALL future NXT 2.0 child chains? If that's the approach, it reminds of what Bitshares tried with the social consensus.
sr. member
Activity: 406
Merit: 250
Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?

Investor keeps both, actually three products:
a) 1.0 coins, core developers pledge to maintain 1.0 for 2 years at least, with bugfixing releases. Probably longer if there is demand and resources.
b) 2.0 ARDR tokens for the parent chain to rule future child chains. If you buy a stake before July 14th, you get 1:1. Three weeks are left to take advantage of the full offer.
c) NXT 2.0 child chain (0.5:1).

suppose you buy 10,000 coins before July 14th, you will have 10,000 nxt 1.0 coins, on Oct 12th you will receive 10,000 ARDR assets later to be turned to 10,000 ARDR forging tokens in the parent chain and 5,000 NXT 2.0 child chain coins.

Should you buy a stake between July 14th and October 12th, you will still get ARDR but because snapshots of the balance will be taken every hour you will receive more ARDR the sooner you buy a stake. Hope I wasn't too confusing with my explanation, don't hesitate to ask questions.
sr. member
Activity: 448
Merit: 250
Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?
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