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Topic: NXT :: descendant of Bitcoin - Updated Information - page 1308. (Read 2761642 times)

full member
Activity: 224
Merit: 100
"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

https://bitcointalksearch.org/topic/transparent-mining-or-what-makes-nxt-a-2nd-generation-currency-364218

ok so i would leave it out of any advertisement since the post its self says

Quote
some mechanisms of advanced consensus (still not revealed).

I assume what he means by "still not revealed" is that they know what to do, but they aren't going to tell everyone about it, as this is NXT's true key to establishing dominance over NXT clones. Clones can clone NXT all they want, but unless they know how Transparent Forging works, they will have nothing on NXT.

But give me a moment, I will think of something to replace that line, just in case.
hero member
Activity: 834
Merit: 524
Nxt NEM
3. every "skill"      has x votes    (                      ? ? ? ?                            )

The example for the 3rd one is from groups, where skilled people, experts had
more weight in their votes than others.

In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.
Just NXTs and accounts. Unless there will be built a method to give identifications
to accounts (...which cannot be gamed:).
Excuse me? Next version of NRS, for example, u'll be setuping from link given to u not by some acc, but by Jean-Luc with his syle and PGP keys (and, may be installing software only in second+ row of installators to check by calmness that everything is alright), won't u? U can't get rid of relying and trusting completely (some last steps of Land of Mistrust is to write your own Java-compilator, cos any other could be compromised). As simpe as that for any kind of decision. If u're dev, u'll be collecting opinions and points of wished features, discussing pros and contras and then writing code.

U
're taking decisions, u're evaluating the disposition. No one have to vote to pick correct version of NRS for u.

In decentralized system there're still creators and consumers. Developers and users. But chains of trust not end at single center of power, in who u need to have unlimited trust. Decentralized system more stable.

srry, I don't get it ...
The 3rd one was not about NRS, just about a mechanism, which allows some experts having more votes than common people.
E.g. in real life some company decides to buy new IT services. IT experts have 10 votes, clerks 3, others 1.
I just meant that I don't know how that would be implemented in NXTsystem, coz we don't know the skills, which are behind the accounts.

legendary
Activity: 1176
Merit: 1134
To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:

A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT

Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.

James

I would be absolutely appalled if we spend 10Mil Nxt on marketing, that is utterly ridiculous.  
Over 1 year
Did you not see the value in having people at the trade show? That costs money.
legendary
Activity: 1176
Merit: 1134
We should stay with the plan of paying 230k nxt for this campaign and reserve the slots for the next months.
Keep in mind that Ethereum and emunie are on their way... nxt needs to be and stay in people's minds.

While long term etherium and emunie will probably get tangled in legal issues regarding their IPO's lack of formality, in the short term, they are coming out EXACTLY when NXT is vulnerable. Until April, we could actually have slightly less features than emunie.

I know this is a tech oriented community, but I hope you can understand that sometimes it is prudent to substitute marketing/PR for a gap in tech. It is only a temporary thing and maybe it won't be a big deal, but what if people make emunie a giant success and take the thunder away from NXT? Is that a risk we should take when we don't have to?

Marketing as DEFENSIVE weapon. Marketing to make people excited about NXT and wait until April to decide between NXT, emunie and etherium. By then, the lawyers might already be circling one or both of those, so it would be game over in favor of NXT.

That is a nice outcome and well worth taking the chance with 10 million NXT that is inching closer and closer to the incinerator. It is like a use it or lose it vacation time. Let's use it. Now is the perfect time to use these funds. It will make all of our NXT worth that much more in the long run. That is what I want. Don't you?

James

If we are going to be behind other projects on features, shouldn't we be funding bounty projects for advanced features?  I don't see how marketing solves that issue.  

How would any technical bounties speed up deployment of Transparent Forging? That is the key to everything and it is already being worked on by the best man possible.

What technical piece is missing for NXT to be superior to emunie/etherium?

From what I can tell, when nexern is done with client his DNA will be the etherium killer and I will bet that he will get it done before etherium's crowd process gets it done.

So, with Asset Exchange we are pretty much at feature parity with emunie. What is missing? I have not tried the emunie beta, so I have no idea what features they have that NXT doesn't. If it is a super important feature that NXT doesn't have, then certainly, let's get a bounty for it ASAP.

If we have enough tech and not enough marketing, why not balance it out and get the marketing? If emunie and etherium were not doing their IPOs as we speak, I would not feel this sense of urgency. There is only a finite amount of people who will invest in cryptos and they WILL be choosing between emunie, etherium and NXT as these are the second gen cryptos. Some will hedge and split between the three, some will go heavier into one other than the other, etc.

Shouldn't we get as much of the second gen investor funds as we deserve? What percentage does NXT deserve? Are we going to get that percentage? If not, then we need more marketing.

James
hero member
Activity: 602
Merit: 500
It took BTC 1 Year to reach 35000 transactions and 2 Years to reach 235000 transactions.

After 2 months we already had 100.000 Transactions, thats not too bad Wink

That is quite impressive I must say NXT coin is one of the only alt coins which does have potential to become something great.
legendary
Activity: 1470
Merit: 1004
To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:

A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT

Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.

James

I would be absolutely appalled if we spend 10Mil Nxt on marketing, that is utterly ridiculous.  
legendary
Activity: 1722
Merit: 1217
"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

https://bitcointalksearch.org/topic/transparent-mining-or-what-makes-nxt-a-2nd-generation-currency-364218

ok so i would leave it out of any advertisement since the post its self says

Quote
some mechanisms of advanced consensus (still not revealed).
hero member
Activity: 644
Merit: 500
3. every "skill"      has x votes    (                      ? ? ? ?                            )

The example for the 3rd one is from groups, where skilled people, experts had
more weight in their votes than others.

In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.
Just NXTs and accounts. Unless there will be built a method to give identifications
to accounts (...which cannot be gamed:).
Excuse me? Next version of NRS, for example, u'll be setuping from link given to u not by some acc, but by Jean-Luc with his syle and PGP keys (and, may be installing software only in second+ row of installators to check by calmness that everything is alright), won't u? U can't get rid of relying and trusting completely (some last steps of Land of Mistrust is to write your own Java-compilator, cos any other could be compromised). As simpe as that for any kind of decision. If u're dev, u'll be collecting opinions and points of wished features, discussing pros and contras and then writing code.

U
're taking decisions, u're evaluating the disposition. No one have to vote to pick correct version of NRS for u.

In decentralized system there're still creators and consumers. Developers and users. But chains of trust not end at single center of power, in who u need to have unlimited trust. Decentralized system's more stable.
hero member
Activity: 834
Merit: 524
Nxt NEM
revision 2 (tell me if im getting closer)

Quote
Ready for whats next? Written from the ground up with brand new source code, nxt is the first truely second generation crypto. By melding short term predictibility with longer term uncertanty, nxt's 100% proof of stake security model opens the flood gates for a torrent of breakthrough innovations. The ability to predict future forging nodes allows forgers to build trust within the community. This trust can be leveraged by merchants to acheve instantly secure transactions or by customers to acheve visa level transaction volumes via transaction clearing performed by forgers before recording transactions in the blockchain. Nxt's 100% proof of stake security model eliminates many of the costs associated with blockchain security that are, with bitcoin, presently born by the savers in the form of inflation. Finally, unlike bitcoin with its limited time block subsidy, there is no arbitrarily selected date far off in the future where nxt's security model will be put to the final test, if nxt works now, it will work always.

Here's my take:

Ready for what's NXT? Written from the ground up, NXT is the first true second generation crypto. NXT's unique 100% Proof of Stake security model provides a platform for breakthrough and disruptive innovations. One of these innovations is known as Transparent Forging. With Transparent Forging, the network is capable of achieving instantly-secure transactions at Visa-level transaction volumes. Additionally, NXT's 100% Proof of Stake model completely eliminates the threat of a 51% percent attack, and does away with the enormous electrical and inflationary costs of blockchain security. With all of it's promised features, NXT provides the best and most secure foundation for users and businesses alike. NXT, the Next Generation of Cryptocurrency.


The 1 minute speech should be tested to some people, which are not familiar to NXT.
Then would be also found, if the "next" (NXT), or even "nexts" (NXT's), causes extra wondering in the heard speech Wink


newbie
Activity: 42
Merit: 0
"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

Pardon me if I'm wrong (as I don't completely understand the technical aspects), but I think this has to do with transparent forging and a temporary penalty levied against nodes that go offline (in the case that someone were to acquire a 51% stake and try to fork the network).
legendary
Activity: 1470
Merit: 1004
We should stay with the plan of paying 230k nxt for this campaign and reserve the slots for the next months.
Keep in mind that Ethereum and emunie are on their way... nxt needs to be and stay in people's minds.

While long term etherium and emunie will probably get tangled in legal issues regarding their IPO's lack of formality, in the short term, they are coming out EXACTLY when NXT is vulnerable. Until April, we could actually have slightly less features than emunie.

I know this is a tech oriented community, but I hope you can understand that sometimes it is prudent to substitute marketing/PR for a gap in tech. It is only a temporary thing and maybe it won't be a big deal, but what if people make emunie a giant success and take the thunder away from NXT? Is that a risk we should take when we don't have to?

Marketing as DEFENSIVE weapon. Marketing to make people excited about NXT and wait until April to decide between NXT, emunie and etherium. By then, the lawyers might already be circling one or both of those, so it would be game over in favor of NXT.

That is a nice outcome and well worth taking the chance with 10 million NXT that is inching closer and closer to the incinerator. It is like a use it or lose it vacation time. Let's use it. Now is the perfect time to use these funds. It will make all of our NXT worth that much more in the long run. That is what I want. Don't you?

James

If we are going to be behind other projects on features, shouldn't we be funding bounty projects for advanced features?  I don't see how marketing solves that issue.  
legendary
Activity: 1176
Merit: 1134
To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:

A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT

Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.

James

you have to define whale

I don't know, maybe something like:

50 BTC dolphin
100 BTC small whale
250 BTC medium whale
1000 BTC big blue whale

full member
Activity: 224
Merit: 100
"completely eliminates the threat of a 51% percent attack" can someone link me to some argument for this. it just doesn't make any sense to me.

https://bitcointalksearch.org/topic/transparent-mining-or-what-makes-nxt-a-2nd-generation-currency-364218
newbie
Activity: 42
Merit: 0
Ready for what's NXT? Written from the ground up, NXT is the first true second generation crypto. NXT's unique 100% Proof of Stake security model and truly de-centralized architecture provide a platform for breakthrough and disruptive innovations. Transparent forging, arbitrary messaging, and de-centralized asset exchange are just a few of the innovative features that will help write the next big crypto story of 2014. With Transparent Forging, a proprietary technology unique to NXT, the network is capable of achieving instantly-secure transactions at Visa-level transaction volumes. Additionally, NXT's 100% Proof of Stake model completely eliminates the threat of a 51% percent attack, and does away with the enormous electrical and inflationary costs of blockchain security. With all of its exciting, promised features, NXT provides the best and most secure foundation for users and businesses alike. NXT, the Next Generation of Cryptocurrency.
legendary
Activity: 1176
Merit: 1134
We should stay with the plan of paying 230k nxt for this campaign and reserve the slots for the next months.
Keep in mind that Ethereum and emunie are on their way... nxt needs to be and stay in people's minds.

While long term etherium and emunie will probably get tangled in legal issues regarding their IPO's lack of formality, in the short term, they are coming out EXACTLY when NXT is vulnerable. Until April, we could actually have slightly less features than emunie.

I know this is a tech oriented community, but I hope you can understand that sometimes it is prudent to substitute marketing/PR for a gap in tech. It is only a temporary thing and maybe it won't be a big deal, but what if people make emunie a giant success and take the thunder away from NXT? Is that a risk we should take when we don't have to?

Marketing as DEFENSIVE weapon. Marketing to make people excited about NXT and wait until April to decide between NXT, emunie and etherium. By then, the lawyers might already be circling one or both of those, so it would be game over in favor of NXT.

That is a nice outcome and well worth taking the chance with 10 million NXT that is inching closer and closer to the incinerator. It is like a use it or lose it vacation time. Let's use it. Now is the perfect time to use these funds. It will make all of our NXT worth that much more in the long run. That is what I want. Don't you?

James

Yes. Right after the official client is released. And you know what I mean by official. I mean the client the community deems to be the best and thus becomes labeled the official client because that is the parlance of our times.

Funding authorization is ALL that is required for a signal to the whales that NXT is serious business and to save the 10 million NXT from being vaporized

Marketing benefits the entire NXT community, globally. It is perfect way to spend community funds. Without marketing much harder to convince more whales to invest big. Also, whales like to make money, so if we announce funding before it is spent, it gives them time to accumulate the NXT before the big run up in price created by the big marketing campaign.

With the client days away from being released, the time is now. With emunie IPO starting next week, the time in now. With etherium IPO starting, the time is now.

This is a race and NXT is going to win, so lets let the whole world know this. all it takes is to fund marketing.

James
hero member
Activity: 597
Merit: 500

So we are paying a CPM of around $75 for this advertising.  That's really expensive.

I'm not saying these audio spots are a bad idea, I don't know.  I'm saying $20K is a LOT of real money for an advertising budget.

If we are ready to spend that kind of cash, we should consider print ads in Bitcoin Magazine.  

For $20K we could get full page color ads on page 1 for the next three years in a printing of 25,000 in each month's production run.

http://bitcoinmagazine.com/advertising/

http://btcmag.9wizards.netdna-cdn.com/wp-content/uploads/2013/12/BITCOIN-Pricing-List-Interactive-Issues-17-19_web.pdf

This would have a CPM of around $20-$25.  Don Draper of Mad Men would say that's three times more effective.  Plus every ad could have a QR code or URL that would sweep the user immediately on to more info.

+1
legendary
Activity: 1540
Merit: 1016
Everyone calm down, please. And Europeans: go to bed now. Thank you.

okay))
hero member
Activity: 840
Merit: 1002
Simcoin Developer
legendary
Activity: 1722
Merit: 1217
To the whales out there, I have a question.
If the community voted to spend 10 million NXT in community fund on marketing, how would that affect you:

A) Positively, would buy more
B) Neutrally, no change
C) Negatively, would sell part of all of NXT

Any other comments from the "whale" perspective about NXT marketing spending would be appreciated. If you are thinking this way, then odds are that other potential whales are thinking the same way too.

James

you have to define whale
hero member
Activity: 840
Merit: 1002
Simcoin Developer
In global NXTsystem is no persons, no trusted persons, therefore no skilled persons either.

If we find a method to vote reliably, we can then implement a 2-tier system on top of it, where you delegate your votes for a particular matter to an expert.

You can say that "for this particular technical issue I delegate my vote to Jean-Luc".

But we need to find a reliable voting mechanism first.
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