Topic: NXT :: descendant of Bitcoin - Updated Information - page 227. (Read 2761645 times)

+1, please, Nxt main target should focus on decentralization. Denominating everything in Nxt lead to centralization. Which is bad in the long term for Nxt. Most thing in AE will be denominating in Nxt anyway, but some special market need not to be denomintated in Nxt. Do not forget that.

Everyone-

The issue that James brings up is REALLY IMPORTANT. If you are skimming through this part of the thread and you quickly decide that *duh* everything on AE should be denominated in nxt because nxt rules, THEN YOU HAVE COMPLETELY MISSED THE POINT.

Sorry for the all caps alarm bells, but this is a really complicated issue. If you do some research into the "petrodollar system" you will find a real world example of the problem that James brings up. Forcing the world to buy oil in USD has contributed to the USD's current status as the world's reserve currency. It has benefited the US government by increasing the value of USD (increasing worldwide demand for the dollar). However, now the US government has to make sure that oil producing countries only accept USD for their oil, or else the value of the USD will plummet and cause economic havoc for the US and the world. This is one reason that the US government is so friendly to the Saudis. This is also a reason that smart people are really worried about deteriorating relations between the US and Russia. The petrodollar system is a house of cards.

By analogy, only allowing trades in the AE to be denominated in nxt will have similar effects. If we succeed in making everyone use it, then sure, nxt prices will fly to the moon. However, the petrodollar system is highly unstable, and requires some serious political maneuvering to keep it running. It also required the most powerful country in the history of the world (debatable, I know) to get started. Lets be real here. We are a very small, niche community. I don't know if we could make AE successful with only nxt-denominated trades, but I do know that we would be making things much much more difficult for ourselves.

I also believe that such a system is inherently unstable. If we try to force people to use one currency, either by design of the nxt platform, or by dishonest marketing, we are ultimately doing more harm than good. We need to deliver unique, useful, and price-competitive services as a network. If our network is better than the alternatives, and if we market ourselves effectively, then we should see mass adoption of the nxt network and our personal wealth will increase. There is no easy shortcut.

We don't need to be the reserve currency of the internet to be ubiquitous and successful and richer than we are now. Please, please spend some more time thinking about the consequences of this decision.

No reason why we can't have both 

Thought you mend this one: 

And a bear.

Here's another donation for those who keep following this thread. Healthy discussions are welcome but please try not to fight, feel offended and even thinking about leaving our project, guys. I sent 201 NXT to an account and the password is this entire post itself. Truly hope it's someone who helps by discussing, brainstorming or coding that gets it.

PS, I am looking for a web developer to give me a hand (well, haha, I need more than just a hand) in developing hashrate.org

Ricky, you are a thoughtful guy so I presume this isn't just a personality clash? You shouldn't go, you have been an anchor for a long time. If Nxt doesn't look like it is going to turn out like you expected, don't walk away completely. Drop your stake if you want but say "what the hell, I've come this far. Let it ride". You might be surprised by unknowable events that happen in the future and I've never known a Sheriff desert his post  

Of course, if some insidious large NXT holders wanted to ensure your scenario, all they would have to do is offer a matching donation of NXT to the mining outputs.

Poll has been locked as requested.  My request to James that he identify an alternate treasurer stands.

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Thank you for the support. (and buybitcoinscanada and brooklyn)

However it seems that a lot of people here simply want a 1.0 coin and not a platform.

I get the feeling that everytime I come up with a cool new feature, a lot of people will get upset and I am not sure what to do. With NXT I can do almost anything and I am in the process of designing a set of features that will put NXT so far ahead of all the other cryptos, but now I am having second thoughts.

Why bother. It will probably just get shouted down because nobody has ever done it before, or it will "kill NXT" by some magical illogical means. But that is what I do. I come  up with stuff nobody has ever done before that the MARKET wants. It is a combined tech/marketing thing that I have the  knack for. Probably because I have done a lot of tech marketing and a lot of coding and a fair amount of trading. Kind of a unique combination.

Remember when I said I wanted to do a gateway. Yawns, boredem. Centralized, yada, yada. Well I thought I could make a gateway that was a cut above the centralized exchanges and after an incredibly long period of four weeks I am close to a beta release of a fragmented automated multisig gateway. To my defense, I have been sidetracked for a significant part of that time simply defending myself from attacks. I did also release the "coin that shall not be named". Not sure if anybody ever said it couldnt be done, but people wanted a way to reinforce forging and it solves that.

Now I am writing all this software. Some of it will require support in the NXT core, most of it wont. I think I will simply stop posting any details about anything. There is no point when math gets debated. I just see math where others see, I dont know what. Every time this sort of thing happens, I lose the positive state of mind that is needed for this type of cutting edge work.

I cannot keep fighting over each and every feature that i need to support what I am doing. I am not asking for NXT AE to be changed to be denominated in NXT. I am just asking for the ability to be able to have the option to denominate trades in some other asset. Certainly with the neanderthal mindset that nodecoin will somehow kill NXT, doing anything like this will certainly put a stake through its heart.

Here is the plan. I will make a short list of things that I need to implement what I am working on, it will be something like:

1. comment field in asset transfer (this I need to 100% correlate gateway deposit transfers to deposits) I hope this wont cause NXT to explode too.

2. Fractional assets

3. the ability to denominate AE trades in other assets

4. some special NXT acct to be used for mixing and/or NXTcash, needs a little support in the core, not much

5. tbd. probably a few more small changes, not sure yet as I am still not done with the full design

Am I asking for too much?

Unlike most people, I am working night and day on NXT. I am writing a lot of code. I am adding features to NXT that no other crypto has. I have not disclosed all the features it will have as I have not been very encouraged by the reception so far of what I thought was noncontroversial features. It must be so easy to complain about everything. I try to be positive. I try to stay focused. While what I am doing is not exactly what BCNext envisioned, I believe it is in the same spirit and I am trying to complete as much of the feature checklist as I can, as fast as I can.

Please start a poll on whether you want NXT to be a platform or a 1.0 type of coin or some magical mystical fairytale impossibility. I can do platform, you dont need me for 1.0 type coin, the last one is beyond me.

James

James, I am not going to question or even comment further on any of your ideas.  It seems to me that every time I do, you take it as distracting  neanderthal personal attack and threaten to quit NXT development because both your work and your vision for NXT is so unappreciated.  This is never my intention.  I have only intended to initiate respectful, honest debate on critically important topics.

I do not believe it is appropriate that you have someone you apparently consider to be an ongoing adversary to serve as a treasurer for the funds you control.  Please identify whom you trust to serve in this role and upon their concurrence I will deliver to them passcodes to NXTcommunityfunds, NXTcashoperatingfund and NXTcashcompletionfund.

Best wishes to you and to NXT.

James, I am not going to question or even comment further on any of your ideas.  It seems to me that every time I do, you take it as distracting  neanderthal personal attack and threaten to quit NXT development because both your work and your vision for NXT is so unappreciated.  This is never my intention.  I have only intended to initiate respectful, honest debate on critically important topics.

I do not believe it is appropriate that you have someone you apparently consider to be an ongoing adversary to serve as a treasurer for the funds you control.  Please identify whom you trust to serve in this role and upon their concurrence I will deliver to them passcodes to NXTcommunityfunds, NXTcashoperatingfund and NXTcashcompletionfund.

Best wishes to you and to NXT.

James, I am not going to question or even comment further on any of your ideas.

Hey now...  take it easy there...  the discussion ended when CIYAM informed the Nxt community that it could be done through AT...  thus making it a non-issue...  poll should be ended/locked...  and you need to hold on to the passcodes...  PERIOD!