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Topic: NXT :: descendant of Bitcoin - Updated Information - page 1176. (Read 2761624 times)

sr. member
Activity: 392
Merit: 250
There is a lot of talk about the NXT "IPO".

Lot of others projecst are currently under the process of doing one, like EMunie or Ethereum. And they have some trouble with it (legal) .
I think we should change this term to avoid confusion with those project.
Those project are real IPO, where you have to pay a certain price/coin. With Emunie or Ethereum, the coins are already valued at the IPO stage.


NXT was not an IPO. It was a repartition.
21 bitcoins were raised but it would have worked the same way if it was 0.021 bitcoins. One billion NXT would have been created and distributed too.
1 NXT didn't have value at this stage.


So to break away from those other project and to avoid confusion.
I think we should use another term.
I propose "IPR" for Inital Public Repartition


What do you think about the idea and feel free to make your own proposal Smiley
legendary
Activity: 2142
Merit: 1010
Newbie
Actually using ZLIB might not be the best idea, better would be something that's faster.
I'd go with LZ4. There's also lzturbo, but, lz4 has format that might be nicer for "small devices" (raspis & Co.)

And ChuckOne is right, binary protocol equals problems

Compression looks like a premature optimization to me. Let's make things more complicated when we actually need it.
member
Activity: 67
Merit: 10

I have no problems with someone being critical about funds, but as regards to marketing a critical mistake is made: it's treated the same as a technical funding.

When you fund a technical or development effort, it's easy to put measurable parameters: "If we spend X, we expect to get Y" and that is cold hard fact.

With marketing, especially at the start, this is very hard to do, and sometimes downright silly. Anyone who has any experience looking at marketing analytics knows that at some point you just can't say: "X happened because of Y".

That means that sometimes money is spent unnneccessarily. That's what bad marketeers do! And most people, I am sad to say, tend to judge marketing and PR by that standard.

The other side is, that marketing gets subjected to over-auditing.

I believe in this case, this is happening. I'll be blunt: if people want hard facts on what the result of marketing efforts like LTB minutes and conferences would be, you won't be able to get them. I can tell you that if you don't get good people out there, Nxt has a major problem.

Take the Miami conference. If you'd have audited Nifty and JustaBit up front about numbers, that would have been silly. Even now, when we know that they have made very good contacts, it's still silly. All they can say at this moment is that things are in the pipeline. If you take the hard line now, you'd say: "you don't get funding, because you don't have results". And that would mean they wouldn't be able to get those results.

I sense a large amount of distrust towards the marketing efforts from some corners. Distrust is something different from critical questions.

I'll be blunt once more: marketing at this point needs trust up front. That means funding without too many questions, based on the fact that you know some people who know what they are doing are taking care of it. I put it to you that some developers in here would get blind funding because of their reputation and there wouldn't be as many questions asked as there are of marketing.

Also, from a "division of power" perspective, I would be less than happy if the person who does the audit also is the person who takes the end decision about actual spending. That is putting jury and judge together.

I'm not going to beg for PR funds, but I do want people to know that I really dislike being put in a place where I feel I have to defend my talents and job and explain I'm not evil.



+1

Those who are skeptical of funding marketing: ask yourself, where would NXT be without the work we've done already? People don't just randomly discover yet another cryptocurrency.
Just look at how reluctant the exchange has been about adding NXT because it requires a bit of additional work, yet we have got more to add us, which has lead to a big increase in users.

Look at all the info we have got out there which has made people trust NXT whereas just 1 month ago the consensus in the crypto world was that NXT was a premined scam. We have managed to turn this image around to "One of the most exciting developements in crypto".

We got a ton of projects upcoming and we've basically only got started.
Look at Ethereum, just look at the amount of marketing they have done and how they are repeaing attention for it. Without having really proved anything they got A LOT of people interested.


There is really no reason for the funds to just sit there and do nothing. Let's actually spend them on making the community bigger and NXT more known to everyone.

I'm voicing my opinion here and agreeing that marketing seems to be undervalued and those involved perhaps under-appreciated.

My out of pocket expenses for a fast secure server for NXT($149 USD / month) and paid advertising and hours away from billable work is costing me too much. Honestly, I may need to pull back from my efforts if something doesn't change. I have given you a very developed and active Facebook page and Twitter account which I believe have very positively helped spread the word about NXT to the community outside of these forums. In fact, I have stats to prove that. I have given you original art. And I hope I've contributed positively to the marketing conversations. I haven't taken very much time to wander around asking for NXT donations or spouting what I do, but the few times I have there has been almost no response. The NXT that has been contributed to my efforts would have to reach a very high price to cover my costs. I had hoped to double my purchased NXT through my marketing efforts and at times wonder if I should have just bought more instead of investing out of pocket in these expenses. But I'm an idealist and a believer in the cause. If I abandon my marketing efforts, I won't do it bitterly—I'll do it when I can't justify the expense.
sr. member
Activity: 602
Merit: 268
Internet of Value
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

Nxt features.....multisig, service providers, decentralized auction, etc.


EDIT: sorry I meant subcommittee....like marketing committee...etc.


or we can have one big committee and they can divided it up as they see fit.




Ok, thanks for clarification. We should stick to one committee for this 10 Mio NXT which makes the polls etc.

Don't get into freaking detail and blah for this. Let us discuss, which people should be in it.
The committee gets the NXT, they do the polls. It is not THE committee for Nxt, it is one lousy committee for 10 Mio NXT. Don't freak out on that and let's do it.

We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.

Since the funding issue is heating up again, I continue with my earlier initiatives and start a nomination thread here. Go there and nominate people you want to be on the funding committee https://bitcointalksearch.org/topic/m.4892772
legendary
Activity: 866
Merit: 1002
Still, I strongly advice you to add another layer (compression whatever) instead of using a binary format.

I would agree that using, say, zlib style compression would be a better idea as it would allow for more TPS than the current JSON but would not be as tricky (i.e. stuff like "endian") as binary.

I think 1000+ TPS is the eventual goal - but hey Bitcoin doesn't even do its currently max. 7 TPS at the moment (so no great hurry to get there). Even 100 TPS would put Nxt well ahead of the pack.


Actually using ZLIB might not be the best idea, better would be something that's faster.
I'd go with LZ4. There's also lzturbo, but, lz4 has format that might be nicer for "small devices" (raspis & Co.)

And ChuckOne is right, binary protocol equals problems
hero member
Activity: 910
Merit: 1000
We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.

More core features on the way, it means more bounties. I'll be paying bounties/rewards until u come to the consensus or April comes. Longer u decide - less u get in the end. Smiley

I like it. You can't annoy me with it Kiss
hero member
Activity: 910
Merit: 1000

Ok, thanks for clarification. We should stick to one committee for this 10 Mio NXT which makes the polls etc.

Don't get into freaking detail and blah for this. Let us discuss, which people should be in it.
The committee gets the NXT, they do the polls. It is not THE committee for Nxt, it is one lousy committee for 10 Mio NXT. Don't freak out on that and let's do it.

We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.

Yes, please. The committee decided and acts. If it goes balls up, I'd rather have it that they tried than that we lose the 10 Mil because we couldn't even decide.
Sometimes you just have to JUMP in the knowledge that you can trust some people. Delegated authority etc.

Edit: We lose the 10 Mil anyway. Might as well be in spending than in meaningless destruction.

Exactly what I mean.

Now let's discuss, who should be in the committee. Has anybody a link to the postings where some people were suggested?
legendary
Activity: 1092
Merit: 1010
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

Nxt features.....multisig, service providers, decentralized auction, etc.


EDIT: sorry I meant subcommittee....like marketing committee...etc.


or we can have one big committee and they can divided it up as they see fit.




Ok, thanks for clarification. We should stick to one committee for this 10 Mio NXT which makes the polls etc.

Don't get into freaking detail and blah for this. Let us discuss, which people should be in it.
The committee gets the NXT, they do the polls. It is not THE committee for Nxt, it is one lousy committee for 10 Mio NXT. Don't freak out on that and let's do it.

We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.

Yes, please. The committee decided and acts. If it goes balls up, I'd rather have it that they tried than that we lose the 10 Mil because we couldn't even decide.
Sometimes you just have to JUMP in the knowledge that you can trust some people. Delegated authority etc.

Edit: We lose the 10 Mil anyway. Might as well be in spending than in meaningless destruction.
legendary
Activity: 2142
Merit: 1010
Newbie
We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.

More core features on the way, it means more bounties. I'll be paying bounties/rewards until u come to the consensus or April comes. Longer u decide - less u get in the end. Smiley
full member
Activity: 266
Merit: 100
NXT is the future

can owner of account 2537603335500006326 contact me please?

thank you
Pin
hero member
Activity: 910
Merit: 1000
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

Nxt features.....multisig, service providers, decentralized auction, etc.


EDIT: sorry I meant subcommittee....like marketing committee...etc.


or we can have one big committee and they can divided it up as they see fit.




Ok, thanks for clarification. We should stick to one committee for this 10 Mio NXT which makes the polls etc.

Don't get into freaking detail and blah for this. Let us discuss, which people should be in it.
The committee gets the NXT, they do the polls. It is not THE committee for Nxt, it is one lousy committee for 10 Mio NXT. Don't freak out on that and let's do it.

We have brilliant and trustworthy people here. If they fuck up, well, then bye bye 10 Mio. NXT. But that's it. Better than babbling till April and CfB throws the NXT away.
hero member
Activity: 714
Merit: 500
Crypti Community Manager
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

We need a committee of trustworthy people like Anon and co (we had a list somewhere, or a suggestion). They get the NXT, they make the voting panels for bounties, they transfer the NXT.

Yes, this!

Let's choose 10 members and each one gets the same amount of NXT. They can distribute them freely, but they are connected somehow. Also they have to act like the community wants.
full member
Activity: 221
Merit: 100

I am the only one guy who created a list of conferences, who created a list of people of conferences, who is constantly inviting people to the conferences and also who was trying to start to get the funding for the conferences.

Keep up to good work....just try to develop an objective way for the community to judge the results of the spending. (accounts created, Nxt mentions in media, Google searches. etc.)

This is normal practice for  any marketing department when they have to report to management.


Everything is being reported https://bitcointalk.org/index.php?topic=412243.440
Everybody is encouraged to help.

Metrics are a good idea, but it is not exactly easy to create a direct correlation of any single expenditure to a specific account creation.

Now advertising is directly measurable, but the NXT community clearly rejected that.

Marketing and PR take time. It is both qualitative and quantitative.

I, personally, am impressed with what the marketing team has achieved. Let us not be such micromanagers of an area that might be outside our expertise.

Does anybody have serious issues about the quality of the Marketing? If so, please help improve it. We need Marketing/PR

James

+1. We have partnered with more exchanges, have articles on the major btc medias, coin desk and the magazine, accessed to the major radio talk show, access to major trade shows, create more educational materials, treads on the social network, more new nxters coming, ......... All this actions have direct positive impact on NXT's price. Marketing and sales are doing a great work.
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
Still, I strongly advice you to add another layer (compression whatever) instead of using a binary format.

I would agree that using, say, zlib style compression would be a better idea as it would allow for more TPS than the current JSON but would not be as tricky (i.e. stuff like "endian") as binary.

I think 1000+ TPS is the eventual goal - but hey Bitcoin doesn't even do its currently max. 7 TPS at the moment (so no great hurry to get there). Even 100 TPS would put Nxt well ahead of the pack.
legendary
Activity: 2184
Merit: 1000
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

Nxt features.....multisig, service providers, decentralized auction, etc.


EDIT: sorry I meant subcommittee....like marketing committee...etc.


or we can have one big committee and they can divided it up as they see fit.

hero member
Activity: 910
Merit: 1000
                       NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

member: 7 Maximum




Sorry, what? A feature committee?

We need a committee of trustworthy people like Anon and co (we had a list somewhere, or a suggestion). They get the NXT, they make the voting panels for bounties, they transfer the NXT.
sr. member
Activity: 364
Merit: 250
☕ NXT-4BTE-8Y4K-CDS2-6TB82
What does that mean? Is the binary format already in use?

0.2.x versions worked with binary format. Now peer communication is done with JSON format.

Ah, I see.

Still, I strongly advice you to add another layer (compression whatever) instead of using a binary format.

From an engineering point of view, it's proven to be more reliable, secure and flexible. Especially when it comes to something sensitive like a currency system, please do not sacrifice security in favor of cool speed. I could live with 700TPS as well. Layers underneath NXT will evolve further and will eventually provide speed-ups in the future.
legendary
Activity: 1092
Merit: 1010
These are all ideas which could be discussed in the community. Where is the voting thread? Maybe there are not enough options to discuss. Let us first discuss, which can be done. Not in detail, just some roughly points.

edit: There it is https://bitcointalk.org/index.php?topic=423241.20
edit: And https://bitcointalksearch.org/topic/decisions-on-9-million-common-fund-418695

Don't make me scream and cry! Wink

But yes, the community has already spoken. Smiley
legendary
Activity: 2184
Merit: 1000
                        NXT FEATURE DEVELOPMENT COMMITTEE:

This committee will be tasked with determining and implementing the most requested Nxt features.


Budget: 3 million Nxt

Members: 7 Maximum


hero member
Activity: 597
Merit: 500
CfB can offer a minimum bound on bandwidth required for 1000 TPS (1 MBS) but can't say how many NXT service nodes that can handle the full blockchain are required.

I forgot about a very important detail. 1000 tps @ 1 Mbps assumes that we use binary protocol. Now all data in protocol is encoded in JSON, this adds 3x-5x overhead.

We have to migrate to binary protocol before switching TF on.

I guess after the migration that the API as we know it now would cease to exist?  If so, how about if we did switch to full TF, but kept JSON transport?  Obviously we couldnt expect 1Mtps then, but could we expect 200Ktps?

If so that should sustain us well long enough to get a testbed setup to convert peerexplorer, block explorers, and custom clients over to a binary transport protocol.

@CfB & Client Devs: I was seriously considering putting the requests sent to the NRS into a separate thread in order not to block the GUI while it is under way. With MANY requests passing back and forth, this can be a real problem, when the GUI seems unresponsive!

Do you guys use a separate NRS-request Thread?  And is this still neccessary when the legacy thing CfB mentioned is droppped?



hi l8orre, initialisation and sending funds are sync, updates while runnning async.
data is completely memory buffered without the need to buy latency via a disk based
database approach. closing the client writes a compressed runtime-image to disk
and loads it in one call to memory when started again. this structure removes problems
with orphaned blocks and not updated transaction confirmations, because the whole
account structure is updated, not incremental but complete. an average account
is loading/updating in 15-30 sec. this way. fast enough even with upcoming lesser block
creation time.

ps: iirc you are using python, just throw the json into a collection during runtime and dump
the collection serialized to disk. it's like a mini redis. superfast robust and easy to handle.
the lastest api improvements removed the need parsing raw blocks and transactions and
you can run an http/https async loop to update the structure in complete without the
need to care about timers and race conditions.
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