Topic: NXT :: descendant of Bitcoin - Updated Information - page 1587. (Read 2761647 times)

Hear, hear!

Service providers with their own blockchain is the way to go on text messages, or pretty much anything to be built on top of Nxt. Leave AM for pointers into the service provider's blockchain and contracts with service providers/clients.

Disaster to blockchain. Arbitrary Messages (NOT Arbitrary Messaging) is really Arbitrary Data Storage. The confusing name confuses people. Would anybody suggest being able to pay 1 NXT to be able to open a file in the blockchain and then have NO LIMITS for a day to write to the blockchain? For 1 NXT???

We need to think of Arbitrary Message as a 1K storage unit in the blockchain.
Do we really want someone to be able to store 43 megabytes of data per day in the block chain for 1 NXT???

Please do not try to make Arbitrary Messages into Arbitrary Messaging, it is a bad name, too confusing.

ANYTHING like this suggestion will create the cheapest distributed storage EVER to the Internet and even without spam attacks, corporations would quickly use it for distributed backup of 43 megabytes per day for less than a nickel.

PLEASE do not try to reduce the cost of 1K storage in the blockchain anymore. It is already very inexpensive. I think it is best to use this feature for publishing "pointers", eg. why not just establish a direct IP connection using 1 NXT and then communicate directly IP to IP. Why does all the communication need to go into the blockchain.

Think Arbitrary Data Storage, not Arbitrary Messaging

James

cool concept!
message by invitation ...

I have no reason to doubt that colored coins functionality will be released, possibly with some delay, but we do need client support for it. I think pastet89's problem is that he doesn't fully understand the implications of colored coins (Asset Exchange). It is similar to ripple. ripple allows anybody to issue any three letter "currency", like USD, BTC, even DOG. All anybody has to do is send some to somebody else to issue it. There are no checks and balances at all. Anybody can send anybody a billion USD or a billion BTC or a billion DOG.

What does it mean to get something in ripple? It is all dependent on the issuer. This is why there are trust lines and the restrictions on receiving something you don't trust. It is expected that gateways will issue USD only for validated USD deposits and in turn, when the ripple USD from that issue is redeemed that the fiat USD will be sent to associated bank acct.

"ALL" that the Asset Exchange does is implement functionality similar to the above with the restriction that only a single account can issue each specific asset. So, we will get USD, BTC and probably even DOG Assets in NXT. Whoever the lucky one is that gets the BTC asset will be able to sell the BTC for NXT. I also imagine that if you return the BTC asset to that acct, a corresponding amount of BTC should be sent to your bitcoin address. At what redemption price? That depends totally on the issuer. At what fees? That depends totally on the issuer.

It is his responsibility to do all the real world interfacing. The moment there is an unissued BTC asset for a bitcoin deposit or a bitcoin transfer that is not made for a valid BTC redemption, the trust in the BTC asset owner will drop and soon nobody will use it.

This is the same problem that ripple gateways have. I have said this weeks ago. just because we get Asset Exchange, it does NOT solve the lack of reliable NXT exchanges. This is why I have put in the efforts to get NXT trading inside ripple. Asset Exchange is cool, but the entire process of getting recognizable assets and trusted issuers is not going to be as fast as people here are assuming. Short of CfB getting the BTC asset and deciding to spend his time doing BTC/NXT gateway, the community will have to develop the trust for the lucky winner of BTC asset.

My prediction is that what we will have is half a dozen people who end up with a decent combination of trustworthiness and asset name and inclination to do BTC gateway. This will fragment the market for BTC/NXT and it probably will stay this way for a while.

NXT software cannot magically enforce gateway behavior. If you expect this, then how to explain the turtles idea. NXT server uses star trek transporter tech and beams turtles to desired location on redemption of turtle coins? Nope, that's not till NRS version 6.6.6

Asset Exhange requires trusted issuers to do the gateway function.

James

Asset exchange = colored coin tech. If you understand how colored coin works, you will understand asset exchange. You can read my first draft paper to understand how generally it is supposed to work.

utopianfuture, kindly answer my PM about tech details of the exchange. Thanks.

yes...
questions, questions, questions.... we can't keep our meditation like this  

begone peasants from this sacred place of Holy Trinity (BCNext/CfB/NXT) worship  

Maybe wrong Java-path in .bat-file.

Yay generate my first block: 7978718913464023410 ! Altough no fee in it! I can see it in the the chain explorer, but in the client cmd windows ( NRS 0.5.8 ), I got that debug message:

[2014-01-17 08:01:53.406] DEBUG: Error in block generation thread
java.lang.NullPointerException
        at java.security.MessageDigest.update(Unknown Source)
        at java.security.MessageDigest.digest(Unknown Source)
        at Nxt$Account.getId(Nxt.java:533)
        at Nxt$8.run(Nxt.java:6593)
        at java.util.concurrent.Executors$RunnableAdapter.call(Unknown Source)
        at java.util.concurrent.FutureTask.runAndReset(Unknown Source)
        at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.
access$301(Unknown Source)
        at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.
run(Unknown Source)
        at java.util.concurrent.ThreadPoolExecutor.runWorker(Unknown Source)
        at java.util.concurrent.ThreadPoolExecutor$Worker.run(Unknown Source)
        at java.lang.Thread.run(Unknown Source)

Send & received nxt...Check
Alias system....Check
AM.....Check


All promised features which have been implemented have worked....so why should we also doubt Asset Exchange...

Edit: I'm sure there are others who are acting on this promise....so if you don;t take the chance you won;t be first in the market

I SUGGEST YOU WAIT 3-4 WEEKS THEN DECIDE.

Better look into what I wrote and answer my questions. If you can provide any answer that makes sence I will stay calm.

As it is not my purpose to troll, I have invested much money into NXT and I am planning to invest even more work as I am a developer. However, I am willing to know the whole truth from now as I do not want to write 8 hours a day a programs, using the Asset Exchange and at the end to find out that it will never be released.

Trsut me, I want all this story to be honest an correct as it is in my interest as well. But if it IS, CfB and other guys who says we are trolling will answer the questions and shut our mouths this way, instead of talking empty phrases for trollling the forum.

Can anyone give an exact answer to my questions as I ask them to watch for answers and not just to distract the thread?

1 HOUR till closing vote


https://bitcointalksearch.org/topic/nxt-reward-program-social-media-418838

Pin

where are these guys going from....its like non stop distractions are what....


Edit: pastet89 & the other guy before him...I don;t know who you guys are pls post your government issued ID's for us to know who you are.

who needs other currencys when you have NXT?

Pin

You can not say before you look into the thread posted by stamen123 !!!

CfB has launched a Qubic coin more than a year before CBNext came out from the nothing with the idea for NXT.
The qubic coin client:

1. Is using java as well
2. Is using jetty server as well
3. Has same runing command "java -jar start.jar"
4. Has SAME path to the nodes file:

This is not too much to be a coinsidence, this is OBVIOUS. CfB has started the Qubic coin project a year ago, without that much success, than he decided to make some big money from it in abother way, created the username CBNext in this forum (CfB has been a member of Bitcointalk since 2011), created all the story for Nextcoin + the funny lie for the Skype call, then dissapeared from the BCNext username.

Come-from_Beyond, please, if this is true, admit it, if not, proove it, just comment on all this and be HONEST. Lies are getting you nowhere.

Yesterday after you said that "guys from Wall Street" will test the exchange asset, and you got asked about more deatails, you said you meant "business guys, not exactly wall street guys". Sounds exactly like trying to get dry from the situation. If this is true, why you didn't say "Wall Street guys" (like WS type guys), but you said "guys from Wall Street"?

Let's just put everything on the light. This way NXT will succeed. But be honest.

And as nobody seems to take attention to my previous question, I will repeat it again:

Has anyone looked at the exchange API at all, and if yes, realised, that using its model, the seller gets insurance to get money from buyer, but the buyer does not get protection to get product from seller, and, that using it is possible only in one way (selling other currencies or products for NXT, but not selling NXT for other currencies?

Or I am blind? Just please try to answer me and at worst case you will ask yourself same interesting questions as well, which lead me to the final question, will and HOW will be finally launched this exchange as in its current model I see it not working at all in practise, where in best case for the price of 1000 NXT or around 40$, everyone can post an advertisment for selling "goods or Bitcoins" which he may not possess at all, then get much more than 40$ and run away with the money?

updated 0.5.8,
start bat file,the window suddenly closes,what should I do?
TKS.

By using ripple you can purchase NXT with XRP. You can purchase XRP with fiat so there is a fiat -> XRP -> NXT path totally independent of BTC. Also, I offered to start a market of NXT/USD on ripple, but there was no demand for it at the time.

I tend to come up with ideas ahead of their time.

James

So is this drama over ? I am expecting more   

I guess the initial plan has changed, now that Nxt has gained such a popularity. I do not mind him being paranoic or whatever - I would like to see publicly people make a team (foundation) and tell everybody that the source files are with them so that Nxt really grows more than any other individual


this is good !

+1. Really like this idea.