Topic: NXT :: descendant of Bitcoin - Updated Information - page 2033. (Read 2761645 times)

I use Gdex so that you may have a conceptual picture/framework in your mind....it can be any other exchange......I'm not even excited about the exchange per sec...im more interested in how the IPO process will work...how  I will be able to trade shares on the Asset exchange....If I don;t want to trade Nxt....I just trade my shares....IT'S ANOTHER DRIVER FOR NXT!.similar to forging....& share holders also get monthly dividends based on their holdings.....I think this is what Mr. James has been pushing.

That is because of the risk of bugs in the new software or chain forks.

If withdrawals are automated (handled by code with no intervention) and the dgex site owner is not awake and something bad happens money on the exchange will be lost. Potentially a lot of money.

I assume automatic NXT withdrawal will happen when confidence grows?

Cool. When you said paid Core, you mean they are being paid for their development work? If so, full details of this should be provided (not the amounts obviously, but who is paying who, for what duration etc).

Development team is a major plus of this coin.

Dgex belongs to Mr. Graviton. You could persuade him listing in NXT asset exchange by emailing him and asking him so. And please stop spreading the bull concept of DAC. They belong to invictus and protoshare group which has litter thing to do with NXT.

Doubling request, waiting for release.

withdrawal are now handled manually....but deposits are automated.

Totally unpredictable, I suppose. Try to imagine: how much of people'll (including new) be forging at each point, how many non-feature-txs'll be sent, how many feature-ones and so on. Too complex.

What do you mean by automate dgex?

I AM JUST PROPOSING WE AUTOMATE DGEX AND SET IT AS THE FIRST AUTONOMOUS CORPORATION TRADED ON THE NXT ASSET EXCHANGE.


PEOPLE JUST WANT A SAFE PLACE TO DEPOSIT/TRADE/WITHDRAW....A SAFE GATEWAY FOR NXT.


I REPEAT WE AUTOMATE DGEX AND ISSUE SHARES ON NXT ASSET EXCHANGE.


SIMPLE...EASY...

GREAT !!!

You need to understand that NXT network does not know BTC address. They belong to two completely separate blockchains. There is no way you can send or receive real BTC within NXT. Please wait for documentation on the asset exchange operation.

brooklynbtc,

I am not 100% sure about this as I am making some inferences and deductions to arrive at the following:

NXT will implement colored coins. From whatI have seen of the protocol, it is totally flexible and allows anybody to issue anything.

You could issue a colored coin and make each one worth a rolls royce. I think it is one NXT per colored coin, but maybe there is a non-1:1 mapping possible.

Anyway, since each of these are worth a rolls royce, at some point somebody can come to you and say, I want to redeem my rolls royce. Here is the coin, where is my car. At this point, you either hand him the keys to the rolls royce or default. Therein lies the problem. Unless you have credibility as to access to fancy cars, your issuing rolls royce coins will probably not find a big market. Even if you did, people will still be a bit skeptical.

The only thing at stake for an issuer of a colored coin is their reputation. This could be something super valuable, or it could be very low value. So, it is caveat emptor free market. Ripple gateways struggle for a long time before people start trusting them enough to use them.

This is why I believe working with ripple makes a lot of sense as the gateways to USD, BTC, CNY are well established. What that means is that converting NXT into and out of those currencies is already implemented just by using a ripple NXT gateway.

James

P.S. Over time, trusted issuers will emerge within NXT and it is also possible ripple gateways will open up their NXT counterparts.

It may not be a monopoly in the world but it will be the ONLY Gateway for BTC/NXT on the Asset Exchange....you will need some form of Gateway to deposit/withdraw either NXT or BTC for example from Nxt Asset Exchange ....JUST AS IN DGEX HOMEPAGE....we deposit/withdraw/Trade and pay a fee in the process like any normal exchange.

Its basically GDEX automated and linked to the Nxt Asset Exchange....who cares if there are other competitors....other competitors are not gonna pay out monthly dividents to share holders.....other competitors are not gonna have their shares traded in the NXT Asset exchange ....I repeat the NXT ASSET EXCHANGE IS READY!


I am not a dev...so I can;t code this but I don;t think it would be difficult....I would surely invest in this....and also trade the shares and many would cuz they can profit from price movements.


IT WOULD ALSO BE INNOVATIVE and could act as a template for other decentralized autonomous corporation....and the main exchange to list would be the NXT ASSET EXCHANGE....cuz it has a liquid and developed marketplace....if NXT doesn;t do this somebody else will.

 

I am trying to collect Nxteam here:
https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E&usp=drive_web#gid=6

But
- BCNext
- Come-From-Beyond
- Jean Luc
belong to the paid Core, while othes are only activists

There need to be more security, you're right!

Perhaps I misunderstood. But this seems to be a way to send NXT from the cmd window with the browser closed:

curl -vk "https://localhost:7875/nxt?requestType=sendMoney&secretPhrase=MySuperSecretKey&amount=1000&fee=1&deadline=30&recipient=11111125831111116332"

Do we have a list of all the developers working on NXT. From what I can gather we have:

Developers

- BCNext
- Come-From-Beyond
- Nexern? (This is from memory correct me if I am wrong)
- Jean Luc

1. Is this list complete?
2. Are all these individuals anonymous or do we have a public figurehead here? Someone like Gavin for Bitcoin rather than BCNext acting as Satoshi.
3. What is the development timeline? - My understanding is parts of the source code will be open sourced on January 3rd. What features will be complete and when? I know when is difficult in software development

The more developers we have working on this, the better it looks (and is) for NXT!

And the development timeline is also important in my opinion to inspire confidence that we are working to a schedule and have a plan. It will also make the features seem more real. When alias suddenly appeared it generated a lot of buzz for NXT.

Three things are important I feel:

- Development/features
- Marketing! Spreading the word in related forum topics, reddit, blog posts, getting on sites like coindesk etc
- Services

Those are my thoughts for the day  

Hey James,

 I'm missing the leap of understanding on getting this set up "within" nxt.. I mean dgex is already an exchange

landomata,

I see a couple of issues with a NXT/BTC gateway. First problem is that there is no guarantee it will be a monopoly and almost a sure thing that there will be multiple issuers of BTC within NXT.

What most people here don't realize is that the entire trust the issuer problem has been ignored. Over in ripple-land, that is the single biggest hurdle for any gateway.

The other issue is competition. I know that peercover isn't charging fees for their ripple gateway and so it is quite possible someone will setup a free service to be a BTC gateway into NXT.

Of course, there is nothing to stop anybody from taking the ball and running with it. Just offering my take on it

James

You nailed it!