Topic: [NXT] Decentralized Asset Exchange Discussion Thread - page 12. (Read 31346 times)

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Great comments Jerical13.
I would like to add my perspective.
1000NXT now is not very much as a starting point. The reason I state this is if you look at what other "centralized" AE such as btct.co at the time and some others, were charging 5 BTC at the time. Flat fee. Quite expensive at today's BTC value comparison.
I think that any fees that are charged for a listing in the AE are distributed percentages among forging and/or possibly lottery/random/development accounts between accounts taking into consideration a weighting factor such as activity, etc... and any other ideas others might have.
A re-adjustment of pricing according to some kind of value from BTC etc...? Kind of like how the PoW algorithm adjusts accordingly to the hash rate, etc...
Thank you for sharing.
Just some ideas...


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With the transparent forging of NXT the cost of transactions and running the network is reduced. As I sited above, it creates no additional cost for a transaction that registers a domain name (unless I have misinterpreted the information) than any other transaction, so the cost factor isn't a valid argument. If the cost per transaction is the same, there is no justification for the minimum fee to be different. There may be an argument that the influx of people rushing to register and squat names will overload the block chain, but that is where the "bidding for inclusion" would hold trump over transaction priority, and by that association, cost of domain registeration. If some one wants to be sure to get a specific domain name, they might be more inclined to opt to pay a higher fee.

Its's cool. take your time. That's why I wanted to converse on a separate form from the main thread. Sorry about the length. I find it really difficult to not express myself fully, to forsake misunderstandings. At your leisure.....I would like to hear your thoughts though so try not to forget

sorry i know i need to read that comment and reply to it jerical13 its just very very large. i haven't forgotten about it though.

Something that need to complete Asset Exchange is Company account or Crypto Company.

I have mentioned it several times but not yet paid enough attention:

We can arrange for a company account!
We can have two type of accounts, Personal accounts and company accounts like any Bank.
Personal accounts can act just like normal currency accounts. One person have the total control over the account while he/she have it's credentials.
But Company accounts can include several personal accounts. each personal account is a member of board of company and can participate in decisions.
Company board members can decide how the payments from company account should be made.
They will vote for a logical order that showing how payments from company account should be made.

For example:

Payments from Company Account(CA) can be confirmed if "Personal Account A"(PS-A) confirm it.
Payments from CA can be confirmed if "PS-A and PS-B" confirm it.
Payments from CA can be confirmed if "PS-A or (PS-B and PS-C)" confirm it.

So in this case the system can:

1-Form a company in virtual world.
2-The company board can take decisions according to the voting system we implemented separately for a "logical order".
3-payments from company can be made according to combination of Personal entities defined in "logical order"
4-Members of board at anytime can change the "logical order" of company so they can change the CEO of company as they wish.
5-The company after forming can announce Assets in Asset exchange feature. so everyone can be a stake holder of an asset of company. And receive dividends.

So this Company account can generate Assets for itself and offer to public.

It's just a new Idea aroused in my mind!

I think every one that implement this idea in his currency will have the future!

O.k. I think we are on the same page when it comes to the A.E. We are just seeing it from different perspective.

First, let me say that what the AE represents to me is free market. Not just a free market that someone tells you is a free market, and then manipulates the value of the market currency, or implies involuntary risks to your assets, (taxing you to fund bailouts), or legislates transaction customs.....ETC. But a truly free market. You or I or anyone alive has never seen or had the benefit of a free market in the sense of the free market that NXT has the potential to be. We have the chance to make it so. Maybe someday this NXT thread on Bitcoin forum will be in a archive some where and people will look back at it as a transcript for a convention of the start of something truly great.

Secondly, as I stated above, I think we see sort of eye to eye on a lot of the fundamentals of NXT, and that the differences regarding this topic are simple communication issues (as most differences are.)

That being said, the reason I think your Ideas on this topic are wrong is that they impose upon the Idea of NXT as a free market; and the problems that they are intended to solve won't be solved by their implementation.

First of I will argue the point you made about squatting. I do think that this is going to happen. People will use the opportunity to purchase domain names and profit by selling them. This may seem kind of ugly, and base, and put a smudgy appearance on the AE, but things like this are a part of a free market. Your line of thought that a 1000 nxt fee will prevent this is flawed in the sense that it assumes people who have the means to pay higher fees are above capitalizing on this opportunity to profit. People will still buy as many names as they can, and still demand the highest price for their sale that the market will bare; but the starting price is automatically going to be more than 1000 NXT, and their will be fewer people holding more in demand domain names, as entry level competition for the names will have been restricted by a price that wasn't dictated by the market. There is going to be a rat race for domain names; a low fee makes it a more fair, more inclusive and more attractive race to get into. No one will pay CRAZY prices to buy a domain name. They will pay what they feel it is worth.

Secondly, restricting the AE's use to traditional assets is a violation of free market fundamentals and limits the ways the AE can be used and by whom it can be used by. This will limit the total usability and usage of the AE and make it a less versatile  tool. The only restrictions that should be imposed are the ones that are needed  for the secure functionality of the AE. If these functional and security restraints don't restrict an asset that is not a traditional asset from being traded, there should be no "sent from above" restriction applied that would limit the market. If the functional and security restraints don't limit the ways in which people can conduct commerce freely amongst themselves. There should be no such restriction imposed by any person or committee of persons. This would eliminate, to a certain degree, creative and innovative uses for the AE.

Thirdly, There is no financial need in the fee being high, as the cost in registering an asset, to the system is the same as all other transaction. The High fee cost is an artificial price, and the fee will, in the highest probability, end up in the account of someone who has 50 million NXT. The effects of this are exponential, when coupled with the effects of limiting innovation and creativity.

Fourthly, as far as your comment "sell it on Ebay" , I was invisioning more of a "Craigslist". If your Ebay suggestion was an attempt to imply that people selling  things in this manor I suggested selling comic books would turn the AE in to an unmanageable, unnavigable clusterfuck, then you should brace yourself; because even if it were not used in this fashion, if it is in any way successful, The AE as it functions now is going to be a clusterfuck. And I don't think the "Tiered" system will prevent this. If the AE is going to be manageable and navigable it will have to be structured differently. High issue fees aren't by any means, structural improvements. High fees and restructuring (tiers) are two different solutions to the problem of the short comings of the functionality of the AE. The high fee solution is a market fixing, ineffectual, demographiclly exclusive, free market restrictive, quick fix bandaid, that resembles the two party government approach to problem solving. The restructuring solution, while not instantly gratifying, is a real solution. And while I do somewhat agree with the idea of the "tier" system suggestion, I don't think that in the long run, even that will be effective. (I do have some ideas regarding this, but that is another topic, the topic at hand is the fixing of issue fees).

In short, I am for this AE of ours being a free market. The first free market that anyone alive will ever have access to. So that means I am for anything that facilitates open and unrestricted trade and commerce between anyone and everyone. And I am opposed to anything that is contrary to this, including fees not set by that free market, and socialist gateways to that market, or any other constraint or restriction that is not required for the AE to function securely.

And I also feel that all of the arguments that you sited in favor of the higher fee, can be solved with restructuring the AE, and making it even more of a free market and facilitating more free trade and commerce; And this should be the area of focus, and that any future marketing strategies have this as a top consideration. The fees will do nothing to solve these problems.

   

Is there anyone working on reaching out to groups and organizations who might be interested in the benefits of the AE? Or any literature being developed to provide info about it? I don't mean to appear as a vulture, but with the bad light that has been cast upon private exchanges, the iron is hot. It may be a good time to put bugs in ears.... unless you think the software is still too underdeveloped to truly pitch the feature.... At any rate an info package could be put together; or several packages based on prospective users interests. If this is in the works, I can help. If it is not on the works, I can still help  Can't write computer program, but I am a fairly decent propaganda writer.

NXT UBER ALLES!!!

You got it exactly right.

Could I get some TestNXT for the asset exchange?

Thanks

2630721545000745539

15004211867702614232

Please!

great job.

Anyone care to give coins for the Exchange?

Thanks in advance.

4768424258192371668

 could I get some Test NXT for the asset exchange?

testNXT 2630721545000745539