Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 428. (Read 941285 times)

Quote from: Anon136 on May 22, 2014, 01:49:19 PM

Quote from: Voluntold on May 22, 2014, 10:36:34 AM

Quote from: CoinsInTheCan on May 22, 2014, 10:32:10 AM

Quote from: PilotofBTC on May 22, 2014, 10:22:48 AM

Quote from: bitcoinpaul on May 22, 2014, 10:09:36 AM

Quote from: PilotofBTC on May 22, 2014, 10:07:57 AM

Wouldn't it be easier to just buy silver rounds/bars, warehouse them and tie the assets to that storage?

Where is the fun?

I guess if pouring 2000deg metal is one guys idea of fun, more power to him. Wink

What is so fun at pool party with barbecuing, beer and live band... when you can melt metal in hot oven... Oh yeaaaah ! ! Grin

I think he's planning on making 'NXT' bars eventually...

im not sure if i want to do that or just have a more general brand. but yes i will definitely be getting a stamping machine and some custom stamps at some point. i really need more feedback from the community. there are soo many things that i could do to improve my business. like literally 2 dozen things that i know of already and of course i can only do one at a time so it would be great if i knew what was most important to you guys so i could put that at the top of my list.

some potential upgrades (in the order i think is most important):
buying a tumbler so that bars will come out with a mirror shine
moving into refining
having a custom 10 ounce mold made so i can start pouring 10 ounce bars
getting stamps and a stamping machine
moving into gold

Anon136, I assume the tokens on the AE represent a share in these bars you are showing. The bars are obviously in your possession. So claiming your share would mean that you have to send/ship the physical stuff to that person. We have to trust you for this. So is there a way in which we can eliminate this trust (the crypto world is all about finding trushtless solutions). Even if you are trustworthy then there is the problem of a limited lifespam. What happens if you die (i hope you life long, don't get me wrong).

So i think it would be nice if you could setup a company/organisation/foundation that legaly possesses the silver and would deliver them to anyone who has the tokens. So this company needs to legally acknowledge the NXT blockchain and the silver tokens that are traded on it.

He certainly needs trust. But, that is gained by transparency. That is gained by a 3rd part audit of his bullion holdings. The only issue I see with this asset is the total asset count doesn't equal his current holdings. This makes the audit harder. Although, I guess there is no way with the ASSET exchange to adjust the number of shares (ounces in his case) based on his warehoused bullion.

Voluntold

full member

Activity: 168

Merit: 100

Quote from: msin on May 22, 2014, 05:00:06 PM

Anon136, I assume the tokens on the AE represent a share in these bars you are showing. The bars are obviously in your possession. So claiming your share would mean that you have to send/ship the physical stuff to that person. We have to trust you for this. So is there a way in which we can eliminate this trust (the crypto world is all about finding trushtless solutions). Even if you are trustworthy then there is the problem of a limited lifespam. What happens if you die (i hope you life long, don't get me wrong).

So i think it would be nice if you could setup a company/organisation/foundation that legaly possesses the silver and would deliver them to anyone who has the tokens. So this company needs to legally acknowledge the NXT blockchain and the silver tokens that are traded on it.

You'll never be able to completely eliminate trust, and that's a good thing. Why do we always need to turn to the state to 'protect us'?

Oh yeah, because people make stupid decisions and then want to socialize the consequences of those stupid decisions....

Damelon

legendary

Activity: 1092

Merit: 1010

Quote from: msin on May 22, 2014, 05:00:06 PM

limited lifespam.

For those unfamiliar, this is the time it takes for spam to become inedible.

Isn't that the same as either infinity or instantanious (depending of which School of Spam you adhere to)?

DrearyUrbanite

sr. member

Activity: 756

Merit: 250

limited lifespam.

For those unfamiliar, this is the time it takes for spam to become inedible.

I was thinking more along the lines of a life-dose of spam.

msin

legendary

Activity: 1470

Merit: 1004

Quote from: Anon136 on May 22, 2014, 01:49:19 PM

limited lifespam.

For those unfamiliar, this is the time it takes for spam to become inedible.

titan20

sr. member

Activity: 427

Merit: 250

Quote from: Voluntold on May 22, 2014, 10:36:34 AM

Quote from: CoinsInTheCan on May 22, 2014, 10:32:10 AM

Quote from: PilotofBTC on May 22, 2014, 10:22:48 AM

Quote from: bitcoinpaul on May 22, 2014, 10:09:36 AM

Quote from: PilotofBTC on May 22, 2014, 10:07:57 AM

Wouldn't it be easier to just buy silver rounds/bars, warehouse them and tie the assets to that storage?

Where is the fun?

I guess if pouring 2000deg metal is one guys idea of fun, more power to him. Wink

What is so fun at pool party with barbecuing, beer and live band... when you can melt metal in hot oven... Oh yeaaaah ! ! Grin

I think he's planning on making 'NXT' bars eventually...

im not sure if i want to do that or just have a more general brand. but yes i will definitely be getting a stamping machine and some custom stamps at some point. i really need more feedback from the community. there are soo many things that i could do to improve my business. like literally 2 dozen things that i know of already and of course i can only do one at a time so it would be great if i knew what was most important to you guys so i could put that at the top of my list.

some potential upgrades (in the order i think is most important):
buying a tumbler so that bars will come out with a mirror shine
moving into refining
having a custom 10 ounce mold made so i can start pouring 10 ounce bars
getting stamps and a stamping machine
moving into gold

Anon136, I assume the tokens on the AE represent a share in these bars you are showing. The bars are obviously in your possession. So claiming your share would mean that you have to send/ship the physical stuff to that person. We have to trust you for this. So is there a way in which we can eliminate this trust (the crypto world is all about finding trushtless solutions). Even if you are trustworthy then there is the problem of a limited lifespam. What happens if you die (i hope you life long, don't get me wrong).

So i think it would be nice if you could setup a company/organisation/foundation that legaly possesses the silver and would deliver them to anyone who has the tokens. So this company needs to legally acknowledge the NXT blockchain and the silver tokens that are traded on it.

Cassius

legendary

Activity: 1764

Merit: 1031

Quote from: TwinWinNerD on May 22, 2014, 04:41:43 PM

Quote from: Cassius on May 22, 2014, 04:40:00 PM

Quote from: TwinWinNerD on May 22, 2014, 04:29:15 PM

Quote from: Cassius on May 22, 2014, 04:40:00 PM

Over 35,000 accounts now.
Can someone tell me if that's clients actually running at the time, or something else? (It seems a little stable for that.)

This represents the number of NXT accounts that EVER had NXT on them.

Thanks.
Presumably a better measure of adoption than for bitcoin. Is there a better one? Is it possible to count active accounts?

Well a way would be to count all accounts with a balance higher than 10 (so that faucet spam doesn't count). Then divide that by the number of accounts the average person has. (1.5 maybe?) then add all the people that only store NXT on exchanges(many I believe). Overall I'd say we are around 3-5k users.

Far fewer than I thought. But all the more impressive for it.
It would be nice to have reliable figures updated regularly. I guess market cap is some kind of proxy.

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: TwinWinNerD on May 22, 2014, 04:29:15 PM

Quote from: TwinWinNerD on May 22, 2014, 04:29:15 PM

Over 35,000 accounts now.
Can someone tell me if that's clients actually running at the time, or something else? (It seems a little stable for that.)

This represents the number of NXT accounts that EVER had NXT on them.

Thanks.
Presumably a better measure of adoption than for bitcoin. Is there a better one? Is it possible to count active accounts?

Well a way would be to count all accounts with a balance higher than 10 (so that faucet spam doesn't count). Then divide that by the number of accounts the average person has. (1.5 maybe?) then add all the people that only store NXT on exchanges(many I believe). Overall I'd say we are around 3-5k users.

Cassius

legendary

Activity: 1764

Merit: 1031

Over 35,000 accounts now.
Can someone tell me if that's clients actually running at the time, or something else? (It seems a little stable for that.)

This represents the number of NXT accounts that EVER had NXT on them.

Thanks.
Presumably a better measure of adoption than for bitcoin. Is there a better one? Is it possible to count active accounts?

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Quote from: TwinWinNerD on May 22, 2014, 04:05:38 PM

Over 35,000 accounts now.
Can someone tell me if that's clients actually running at the time, or something else? (It seems a little stable for that.)

This represents the number of NXT accounts that EVER had NXT on them.

Cassius

legendary

Activity: 1764

Merit: 1031

Over 35,000 accounts now.
Can someone tell me if that's clients actually running at the time, or something else? (It seems a little stable for that.)

EvilDave

hero member

Activity: 854

Merit: 1001

Shameless selfpost: Can you guys take a look at my website and give some feedback and test the trollbox?

http://cryptorating.org/

Thank you

Tried it, liked it.

Good work, Twin!

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

Shameless selfpost: Can you guys take a look at my website and give some feedback and test the trollbox?

http://cryptorating.org/

Thank you

PilotofBTC

legendary

Activity: 1736

Merit: 1001

Quote from: visual111 on May 22, 2014, 03:32:18 PM

Quote from: Anon136 on May 22, 2014, 03:16:22 PM

Quote from: PilotofBTC on May 22, 2014, 03:20:22 PM

I'm trying to get over an issue of PoS coins. If I have 500k coins, why should I distribute any if I'm going to profit by forging?

presumably because there are things that you value more highly than money in the future. i mean you do know that you are going to die someday right?

I don't know, technology might one day have the capacity to make us immortal Wink

I see what you're saying. Eventually, a holder is going to want to spend those coins. Otherwise, they're just watching numbers go up

Quote from: Anon136 on May 22, 2014, 03:16:22 PM

I'm trying to get over an issue of PoS coins. If I have 500k coins, why should I distribute any if I'm going to profit by forging?

If only 20 people have all the coins, and they are just holding them, then they really aren't worth anything.

Yeah I thought about it like this, but wasn't satisfied with the explanation. Obviously, 20 people are not holding this coin

Right, just do what works for you.

visual111

hero member

Activity: 493

Merit: 500

Quote from: PilotofBTC on May 22, 2014, 03:20:22 PM

I'm trying to get over an issue of PoS coins. If I have 500k coins, why should I distribute any if I'm going to profit by forging?

presumably because there are things that you value more highly than money in the future. i mean you do know that you are going to die someday right?

I don't know, technology might one day have the capacity to make us immortal Wink

I see what you're saying. Eventually, a holder is going to want to spend those coins. Otherwise, they're just watching numbers go up

I'm trying to get over an issue of PoS coins. If I have 500k coins, why should I distribute any if I'm going to profit by forging?

If only 20 people have all the coins, and they are just holding them, then they really aren't worth anything.

Yeah I thought about it like this, but wasn't satisfied with the explanation. Obviously, 20 people are not holding this coin

PilotofBTC

legendary

Activity: 1736

Merit: 1001

I'm trying to get over an issue of PoS coins. If I have 500k coins, why should I distribute any if I'm going to profit by forging?

If only 20 people have all the coins, and they are just holding them, then they really aren't worth anything.

Anon136

legendary

Activity: 1722

Merit: 1217