Author

Topic: NXT :: descendant of Bitcoin - Updated Information - page 1072. (Read 2761638 times)

legendary
Activity: 1092
Merit: 1010
One thing is for sure a Turing-Complete Nxt would have much more marketing WOW than 1000 TPS Nxt.

I think everyone can clearly see that fact with Ethereum.


You cannot be serious with this statement.  What percentage of people have even heard the phrase "Turing-Complete"?   What percentage of people hate standing around waiting for that little machine to spit out their Visa slip?

People don;t really care it takes one minute but they care more that their purchasing power doesn't depreciate during the transaction.

If you want to pull off a VISA type setup your gonna have to fix the price of NXT....the US Dollar doesn't fluctuate on moment by moment basis....but NXT does.


This problem applies to both merchants & consumers....it's like buying goods in Euro and selling them in USD....after a certain amount of time your profits might be wiped out by rate fluctuations.

EDIT: Turing-Complete is to take the spot light off Ethereum...we are in the market for crypto-investments, programmers and early adopters....Turing-complete is a competitive threat against Nxt.

You know, thís happens quite a lot: talking about two different things
Please don´t muddle the waters by answering a question about the marketing for mainstream with an argument about marketing for crypto-investers and programmers.

That really doesn´t help.

For mainstream Turing-complete is a useless fact. VISA is better, but the mainstream person, as someone already said, doesn´t know and doesn´t care.
They just want it to work, smoothly and effortlessly and it also must be cool.

The VISA and Turing is for here and the experts. Those are important to get even started. We won´t reach mainstream without first tackling that.

legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
And i propose that we revisit the issue once price reaches new range (hopefully higher range).

Why not be a bit "next generation" and have the minimum fee worked out according to tx history (so it could be adjusted up or down automatically based upon the bandwidth consumption)?
hero member
Activity: 812
Merit: 505
The Last NXT Founder
0.1 is fine...
full member
Activity: 155
Merit: 100
0.1nxt should be the min fee for now.
And i propose that we revisit the issue once price reaches new range (hopefully higher range).
sr. member
Activity: 380
Merit: 275
.1 Nxt Fee is my vote presently. However, if Nxt value exceeds 1 Nxt = $1 USD or .75 Euro, then I would say .01
full member
Activity: 152
Merit: 100
Not today, don't panic.

tomorrow ?  Grin

vote 0.01

Also we cant change the fee every week or so - it's crazy.

+1
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.

Indeed - these seem like pretty good features which is why I question (although have also posted ideas about) the need for things like "Turing complete" contracts (or whatever they should be called).

It appears that this is a bit of a problem for the Nxt community - it doesn't seem to know exactly who it is trying to appeal to (apart from *everyone*).
legendary
Activity: 2142
Merit: 1010
Newbie
Which critical error was in 0.5.11?

Will be disclosed later.
member
Activity: 98
Merit: 10
$10 USD per 1 NXT is very pessimistic price for the end of 2014.

So, if we 'll have 0.01 NXT fee per transaction, it means 1 transaction 'll cost $0.10 which looks valid for most of merchants and NXT users.

We should decide, is it 0.01 or 0.001. Let me remind that only because of small fee (with many zero in the number) bitcoin costs now 800-1000 USD per each. It was not possible with 0.1 or 0.01 BTC fee per operation (100 USD or 10 USD per operation).

I vote for 0.001 fee. We must be realists and be ready for mass adoption usage scenario which fortunately/unfortunately increase the price of NXT. Also we cant change the fee every week or so - it's crazy.

Community, you decide the fee for years, not for few months!

Welcome to 0.001 Club!

PS: 0.001 Club Members 'll get ability to use P2P encrypted messaging service (via NXT AM) and pay almost nothing for secure communication of next generation!

PPS: 0.001 Club Members 'll increase their equity value of NXT, guaranteed.
legendary
Activity: 2142
Merit: 1010
Newbie
OK... one question... will this be changing again based on future NXT valuations?

I'm not sure I got the question. We r lowering fee coz rise of the price is expected and 1$ transaction fee would slow down further adoption.

Expecting 1 NXT = 1$ ? > Panic buying :p

Not today, don't panic.
legendary
Activity: 866
Merit: 1002
Also 0.1

0.01 seems too low for beginning and 0.25 feels like small difference compared to 1
hero member
Activity: 910
Merit: 1000
I quote myself because I want some comments on this and it got lost on page 1547


Nxt should be sophisticated and able to get stuff like turing in the future, BUT there is a need for simple facts about Nxt why it is superior. "Better than VISA" is a great statement, many people get it. Turing is just boring.

I want sophistication and simplicity.

edit:

more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.
sr. member
Activity: 897
Merit: 284
THIS IS A CRITICAL UPDATE

Installer for version Nxt 0.5.12 has been released. This version will check to see if Java is installed. If it is not, it will download and install it if you so choose.

Download here: https://nextcoin.org/index.php/topic,1902.0.html
or here https://forums.nxtcrypto.org/viewtopic.php?f=15&t=311

https://bitcointalksearch.org/topic/m.4953099

Quote from: Jean-Luc
-----BEGIN PGP SIGNED MESSAGE-----
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Release 0.5.12

http://download.nxtcrypto.org/nxt-client-0.5.12.zip

sha256: 30856c5f76b4194d40ece68d480956999ff8072b7b6a78b0be7d9da535dc969a

Change log:

Fixed a critical bug. Everybody should upgrade immediately.


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sr. member
Activity: 376
Merit: 300
Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.
I think 0.01 would be OK.
legendary
Activity: 1162
Merit: 1005
-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Release 0.5.12

http://download.nxtcrypto.org/nxt-client-0.5.12.zip

sha256: 30856c5f76b4194d40ece68d480956999ff8072b7b6a78b0be7d9da535dc969a

Change log:

Fixed a critical bug. Everybody should upgrade immediately.


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Which critical error was in 0.5.11?
member
Activity: 80
Merit: 10
OK... one question... will this be changing again based on future NXT valuations?

I'm not sure I got the question. We r lowering fee coz rise of the price is expected and 1$ transaction fee would slow down further adoption.

Expecting 1 NXT = 1$ ? > Panic buying :p
full member
Activity: 196
Merit: 100
I officially request that the NXTcommunityfund put out a bounty for the first person that successfully forges a block onto a simulated 300 GB NXT blockchain in a testbed setup.  Full specifications of system used and documentation of experiences in accomplishing the task required to claim the reward.
full member
Activity: 179
Merit: 100
If we want to let NXT take off, then we NEED to lower fees. Micropayments are the way to try new currencies.

I am hesistent to send many Messages or send NXT around for fun because i dont want to spend 1 NXT to send 10 NXT...

0.1NXT and Fractional NXT!!!!!!

+1
legendary
Activity: 1120
Merit: 1000
If we want to let NXT take off, then we NEED to lower fees. Micropayments are the way to try new currencies.

I am hesistent to send many Messages or send NXT around for fun because i dont want to spend 1 NXT to send 10 NXT...

0.1NXT and Fractional NXT!!!!!!

+1
hero member
Activity: 910
Merit: 1000
On the fees - I'd go with divide it by 10 (so 0.1) and see how that goes first before perhaps dividing by 10 again (maybe that won't be necessary for some months).

+1

Average people don't even know who Alan Turing is and I think would understand something like "can process transactions as fast as VISA can" much better than something that is "Turing complete"

+1

Nxt should be sophisticated and able to get stuff like turing in the future, BUT there is a need for simple facts about Nxt why it is superior. "Better than VISA" is a great statement, many people get it. Turing is just boring.

I want sophistication and simplicity.

edit:

more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.
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