Topic: NXT :: descendant of Bitcoin - Updated Information - page 229. (Read 2761645 times)

Buenos Aires, but I dont drink
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I dont understand all this non-math thinking. I thought crypto peoples trusted in math.
If you are going to do a $10 million trade, you want to do it at a known price. Breaking it up into 1000 pieces is NOT a viable option. Paying double spreads is NOT an option. We are basically saying forget about any large trade volumes in NXT AE

Try to put your distaste for PoW mining. You do have to admit that a lot of people are very happy to be able to do this abomination type of thing. The market wants what the market wants. People already have mining gear. All they can mine is the garbage coin of the day, when they really want good long term crypto, which is on a short list.

OK, let me try a different angle.

Imagine that somehow miraculously we get BTC denominated trading in NXT AE and it gets 10% of all crypto trading. This is bound to get some press coverage, even without our help. Now, we are being mentioned in the Wall Street journal and major papers as being a significant threat to all the centralized exchanges. People who never even bothered with crypto start investigating. They arent rocket scientists, but they gots tons of money. Do you think they will buy BTC or NXT? Remember, they are finding out that NXT enabled BTC trading. That implies that NXT is more powerful than BTC. BTC cant trade itself, but NXT can not only trade itself, it can trade BTC.

Ricky, you are right, what if the world finds out NXT is so much better than BTC. They just might start buying so much NXT there wont be any left to use a 1.0 currency

James

Think of Nxt being like the cigarettes in a prison. People can trade cookies for soap, which requires one hungry prisoner and one dirty prisoner. However EVERYONE accepts cigarettes, even non-smokers because cigarettes can get you anything.

NXT should be cigarettes and NXT Nxt should also be the prison.

This is also why they hung Saddam Hussein...   

Listen to Adam B. Levine's comments from the most recent episode of Let's Talk Bitcoin. Listen between 12:12 - 13:30 he says, "Nxt looks like Bitcoin will look like in 5 years, only it's here today and you can see it!"

Oops, not factorial.  You are correct, but divided by two (if ask/bid grouped as single market) So is: N * (N-1) / 2

Consider 6 assets A, B, C, D, E, and F:

A<->B
A<->C
A<->D
A<->E
A<->F
B<->C
B<->D
B<->E
B<->F
C<->D
C<->E
C<->F
D<->E
D<->F
E<->F

Consider 1000 assets:
499500 markets.

What James is saying is if one day the big money (hedge funds, institutional investors, "Visa-scale" institutions...) wants to trade on NXT asset exchange, for them to acquire or dispose of that many Nxtcoins will soak up all the liquidity in the NXT markets and cause the price to whipsaw....because they are forced to do transactions denominated in NXT. This means the big money would never get into NXT because they would self-destruct the NXT economy.

The alternative is to have assets CHASE.USD where Chase Bank issues US$1 billion worth and let people trade Chase.USD directly for other assets, and only pay for their transaction fees in Nxt.

Right now if I want to buy an asset, I have to use NXT, which is fine when you're dealing with small time stuff.

I think he has a good point and I can't think of a way to refute it.

James, maybe this message would be better off in the asset exchange thread?

You'll get more traction there rather than get buried ITT.

OK, let me try a different angle.

Imagine that somehow miraculously we get BTC denominated trading in NXT AE and it gets 10% of all crypto trading. This is bound to get some press coverage, even without our help. Now, we are being mentioned in the Wall Street journal and major papers as being a significant threat to all the centralized exchanges. People who never even bothered with crypto start investigating. They arent rocket scientists, but they gots tons of money. Do you think they will buy BTC or NXT? Remember, they are finding out that NXT enabled BTC trading. That implies that NXT is more powerful than BTC. BTC cant trade itself, but NXT can not only trade itself, it can trade BTC.

Ricky, you are right, what if the world finds out NXT is so much better than BTC. They just might start buying so much NXT there wont be any left to use a 1.0 currency

James

OK, you go take on the bitcoin guys. Let me know how it works out. I'm off doing the platform thing

Bye for now, back in a week (give or take). Maybe I will check in, maybe I wont.

Gnite

Personally, I like the things you're doing, but whether or not people like your stuff at first shouldn't be a factor in building them.  You can't please everyone, and you shouldn't try.  If you're making things it should be because its something you want to do and have a passion for, not to please others.  You're doing cool things.  If others like it too, that's bonus.

Indeed the things that will be possible once we have AT in place are rather mind blowing.

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
I would be willing to offer a slight stake in the overall pool profit in return for the assistance (which is intended to eventually be 2%, once the pool is out of beta.. it is currently 0%.)

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

the chances of this happening are slim to none. coinbase app got pulled. block chain.info app got pulled. apple hates crypto.

Wesleys client as an iOS app would be fantastic!!

Wesleys client as an iOS app would be fantastic!!

Yes it would be client side in  javascript.  It would be safe.

This has nothing to with server side as nothing critical is sent to the server (no password no  private key).  Well, that's not entirely true, since if the server is hacked, the attacker could alter the javascript code that runs on client browser.    That's the reason, by the way, I suggested that wesleh should make his client an app in chrome/firefox store. It will be safer that way from compromised server where the attacker alters javascript. 

If you are new to Nxt and don't want to read through 2420 pages of posts, come to the wiki, parts of
Wiki contributors help to pull information from these threads every day to keep the wiki up to date. You can help too!! contribute, or translate.