Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 204. (Read 941260 times)

I wouldn't recommend using MGW as a method to safely store Bitcoin, however if you want BTC on AE for trading purposes, it's very secure.  Jl777 does not run the servers, they are operated by 3 independent parties that all need to agree on any deposit/withdrawal.  There has yet to be a "hack" of MGW.  Some guy has 300BTC on there, so I believe it's pretty safe, but cold storage or a dedicated wallet like Trezor are your best bets if you only want to store.

I am planning to store some of my BTCs on the MultiGateway. As far as I know is it not fully decentralized. How secure are those Bitcoins stored there? What happens if the servers are getting down or jl777 (is he running the servers?) is disappearing suddently? Would be nice if someone could answer these questions.

1. My camera didnt' work with Google Hangout & Linux. That made me upset a bit. Sorry for that guys.

2. Voting System guide for devs is ready https://bitbucket.org/JeanLucPicard/nxt/issue/286/voting-system-guide-for-developers . Welcome onboard, apps devs, let's make cool infrastructure!

Recently the following article was released at Nexter.org:
http://nxter.org/picisi-crowdfunding-project-will-use-nxt-monetary-system/

excerpt:

"... Major factors that will determine Pi’s value are the prices PICISI will pay for global services rendered to it by the various Promotion Contractors that complete various assignments and subsequently paid with Pi; and the rate at which PICISI will buy Pi on the open market.  PICISI uses fiat derived from earned fees to purchase Pi at the exchanges where Pi is listed.  If an official exchange sponsor is present PICISI will purchase Pi exclusively at that exchange...."

Please support PICISI with your comment at the bottom of the article.

Yup people need to realize the utility of the NXT blockchain.

I think the plugin system is a real good step forward for the Nxt Framework. The torrent plugin shows how easy new third party features can be added. Is is just a question of time until a "killer app or plugin" will be released that pushes Nxt to the n(e)xt level

Great post, although promotion is not what we're missing.  You can't ram this stuff down people's throats.  Right now, NXT can't supply anything that people demand on a large scale.  FreeMarket is the only thing I see under development that could possibly become a killer app in time to save this project from irrelevance.

NXT has a lot of tools for businesses but no "normal" business is going to build on NXT currently.  Those tools could be great for the future, and they're great for a couple small projects and pseudo-businesses now, but if we're focusing on that then we're putting the cart before the horse.  Bitcoin was not taken seriously in the mainstream until after it had been battle-tested with Silk Road.  There's an argument to be made that Bitcoin would not be anywhere near as far along in mindshare and legitimacy as it is today without Silk Road.

NXT needs to find a niche and excel there.  Having a million features that no one wants to use is not a niche.  Having one feature that everyone wants to use, is.  Once we've gained some mindshare and legitimacy with FreeMarket, businesses will open up to the possibility of using NXT and all of its wonderful features.  Let's get in where we fit in before it's too late.

EDIT: In case anyone is not clear on this, OpenBazaar is not decentralized, it's peer-to-peer.  Item listings are stored only on the seller's computer which means the seller's computer can be identified and if it goes offline then the seller's listings disappear from the marketplace.  FreeMarket is truly decentralized with everything on the NXT blockchain:

https://www.freemarketlite.cc

Kushti was good, but the discussion turned out to be mostly general financial/economic brainstorming, rather than a technical nuts 'n' bolts debate as expected.
But, hey, we are going to rescue Greece using the power of crypto, so thats going to be an interesting project....
Here's the full video:
https://www.youtube.com/watch?feature=player_embedded&v=VJR6nKSTULs

And here are the Wiki, info and follow-up conference pages:

http://www.drachmae.info/index.php/Main_Page

http://www.drachmae.org/

http://www.drachmae.money/expos/inv2/

The next conference is in 2 weeks, so reserve a seat.

Except it's not true. The initial distribution 18months ago is ancient history and probably doesn't affect the price much now. It's a bear market and everyone is selling crypto right now, and Nxt is no exception. Nxt has great tech, but it still has to make the jump where it gets widespread usage/exposure.

NEM got dumped pretty hard when it launched and that wasn't supposed to happen because 'fair distribution'. Nxt's present distribution is similar to other cryptos such as litecoin, and that it's a problem is just an urban legend that keeps getting repeated.

NXT has far more than it needs to justify a far higher value than it reflects at present.  NXT needs to capitalize on opportunities otherwise some other coin will do it.  77 people holding 99% is evidence of a closely guarded secret.  If you want NXT to be a secret, goal achieved.  If you want NXT to be well adopted then we as a community need to cherry pick project and promote them like crazy until they bare the fruit they are suppose to produce.

How did the panel discussion go today? Kushti kick azz?

Er.....not going to deny that some stakeholders have sold off their NXT (which you could see as a good thing, in the interests of better distribution), but NXT has maintained its position relative to other cryptos well in a falling market.
Every longterm crypto has lost 60% value (at least) over the last few months, so NXT isn't doing badly at all, when compared to the rest of the market.

Without a killer app, the price will continue to decline into oblivion no matter how many features are available.  FreeMarket is the perfect opportunity but there is only 1 dev on it as far as I know.

It is remarkable the orderly but massive sell off that is being taking place in NXT during the last few months... at a cost of 60% of the value of the project, of course.

Everything that can go right IS actually going right and yet the dumping is relentless, to the point that the market cannot assimilate it, no matter how good the news can be. Simply too many people selling... which we all know IS the main problem of this project: the distribution. Some or all of those 70-something people who hold 99.99% of the total NXT, are selling. Relentlessly if orderly. New investors, logically, have learn to stay away completely while the decline continues.

No good. Not good at all.

Could this plugin fully replace torrent sites like thepiratebay theoretically? If so, this would be a huge potential for getting new users.

Keynote panel session is kicking off soon.....Brian Kelly on the NXT blockchain:
"The ability to securitize anything......blockchain solution for Greece ? "

Tune in and find out.....

www.drachmae.info

Follow up conference May 20th.

Livestream can be found here: https://www.youtube.com/watch?v=VJR6nKSTULs#t=113

You can now log into http://www.mindthegapexpo.com/

Heres a little reminder to get your asses on over to the Mind the Gap virtual conference later on today:

http://www.mindthegapexpo.com/expos/inv2/

Registration and attendance is completely free, so come and check out what could be a very interesting event.
How often do you get a chance to see NXT, Ethereum and UBS bank on the same bill ?