NXT :: descendant of Bitcoin - Updated Information - page 2129.

Damelon

legendary

Activity: 1092

Merit: 1010

Quote from: rickyjames on December 26, 2013, 10:21:24 AM

Quote from: Come-from-Beyond on December 26, 2013, 09:44:01 AM

Quote from: killver on December 26, 2013, 09:41:08 AM

Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees. Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

This example only goes when ALL NXT are in play. The percentage is calculated over all NXT that are in accounts running nodes. If they are not, then the percentage changes.

landomata

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Quote from: utopianfuture on December 26, 2013, 10:25:20 AM

Quote from: landomata on December 26, 2013, 10:20:39 AM

Quote from: utopianfuture on December 26, 2013, 10:14:18 AM

Quote from: landomata on December 26, 2013, 10:10:05 AM

Quote from: utopianfuture on December 26, 2013, 10:06:48 AM

Quote from: landomata on December 26, 2013, 10:03:36 AM

Quote from: utopianfuture on December 26, 2013, 10:01:22 AM

Quote from: landomata on December 26, 2013, 09:58:52 AM

Quote from: utopianfuture on December 26, 2013, 09:54:59 AM

Quote from: landomata on December 26, 2013, 09:47:37 AM

Quote from: utopianfuture on December 26, 2013, 09:44:12 AM

Quote from: landomata on December 26, 2013, 09:39:34 AM

I think a better idea would be to IPO the service providers/gateways

for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.

BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote #446
It is real.

Here is an example

I want to run a business. I issue an asset (let's call it Krusty Krab tokens - KKT). I set quantity of KKT to 1000. I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months. I create an ask order -- 1000 KKT for 20,000 NXT. You create a transaction that sends me 500 NXT for 25 KKT. It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT. And I will send 5 NXT for each KKT to those who owns them.

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange. Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.

other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

It will be automatic....no need for individuals...its needs to be decentralized.....the company is publicly owned.....the person who codes this 1st get to make a cut during IPO....a reward for their hard work.

The issue is that the gateway can run out of Btc or Nxt. You can never be sure of that. Nxt and Bct are individual asetts you can't force people to send their assets to the gateway. You have to consider the possibility of the gateway going bankrupt and being delisted

the gateway runs on the network it has no profit or loss....it just collect fees and divids them based on who owns the percentages of the share say at 12 am on the 1st day of the month Shanghai time.

if no fees are collected nothing is paid out

S3MKi

legendary

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I want to post more links on nxt big giveaway but I can't. There is no "reply" button http://clip2net.com/s/6tgweZ. Closed?

utopianfuture

sr. member

Activity: 602

Merit: 268

Internet of Value

Quote from: nexern on December 26, 2013, 10:25:03 AM

Quote from: Come-from-Beyond on December 26, 2013, 09:47:56 AM

Quote from: xibeijan on December 26, 2013, 09:45:31 AM

CfB, how is the decentralised exchange testing going?

We've done with testing. Now all depends on when nexern completes his client.

yes, working on the client prototype and i am more than confident we have not
only the asset exchange until end next month. i would like to spend more time
on the client but i have to clear and finish some explorer issues before. don't like
to leave the explorer in an bad shape when starting fulltime with the client.
preparing a complete roadmap this weekend and post it here. some feedback would
be nice what additional features we like to see already integrated right from start.

Hi nexern. Are you considering listing your blockchain explorer company in the asset exchange ? we need some credible assets at first and I can' think of any better example.
I am going to buy your first share.

gbeirn

full member

Activity: 126

Merit: 100

Quote from: rickyjames on December 26, 2013, 10:21:24 AM

Quote from: Come-from-Beyond on December 26, 2013, 09:44:01 AM

Quote from: killver on December 26, 2013, 09:41:08 AM

Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees. Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

Yep, you should just buy $1000s of dollars of specialized equipment that can never be used for anything else and consumes a ton of power and mine bitcoins.