Topic: NXT :: descendant of Bitcoin - Updated Information - page 2397. (Read 2761626 times)

Me too!

eMunie promise of keeping its value stable is not credible because they don't have the ability and means to do do. Since when people selling eMu en mass, they have to have a huge reserve of dollar to back the money up otherwise its price against dollar will have to fall. They won't be able to do that.

It has to be understood that in any market price has always been acting as a necessary signal to guide the behavior of the market participants. For example: with bitcoin market if you are holding 100 bitcoin, when the price of bitcoin raising you would be inclined to sell them to more willing buyer, but when the price falls by half, you may decide to keep them all since you evaluate that the potential of the bitcoin is higher than the bitcoin's price right now. All bitcoin market participants follow the same process using the current price as signal as if they are many ships and liners following the lighthouse to reach the shore  The true price is discovered organically.
Now you don't have the price signal here so the price of eMunie is artificially kept up. This is going to be a mess



  

Okay I have to put my two cents on the matter too:
-While as Jan-Luc correctly posed it, I am following other crypto-projects and also carrying the barrier of my real-life affairs in the same time, so it is hard to put 100% of my time and attention to Nxt alone. But:
I have been active in running and managing the bounty and giveaway thread (if there is a delay in keeping the giveaway going, should you blame the client bugs and not me). from ~49M I got at the day of launch, I've sold and distributed about ~26M starting from ridiculus low prices of 0.5 btc per million, I already donated a lot publicly and also privately and paid several extra bonuses to early buyers as well.

By the way by the nature of my job and the style of my life I can't be online a lot. Some part of the blames BCNext poses regarding laziness and selfishness of some stakeholders are completely legit and I mentioned them as well, but expecting one to help and also mine and... is not realistic.

Some people could help technically, some could help by managing the projects, some by securing the network when mining, and some by donating some coins to help the others keep things going.

Quoting other peoples' post by saying this is a good idea or that is terrific, or proposing impossible childish plans (AKA spamming), or even coming out of the dark voting for something, or saying after a private deal that somebody is the most honest guy here (making others look not that honest) is not helping at all.

Good Day!

Well, even if i don't like threats i hope BCNext is doing this to put a bit of pressure on large holders, it is true that some balances never moved or mined, and this is not NORMAL !

On my side i am a small stakeholder, i sold half of my coins early because i had faith in the coin and wanted to spread it.

And come on, you can sell/give Nxt at a loss, you'll be crazy profitable in the long-term, you know that having a huge balance is not helping the coin, if you want to be stuck with your worthless 30Millions, that's your choice.

Yes it does. I waited my NXT payout roughly 24 hours, maybe 30 at most, so don't worry about it.

All of us that spend most of their waking hours following Nxt development tend to forget that not everybody has that time, technical knowledge, and interest, to do so. Those "stakeholders", me including, tend to invest in a variety of crypto-related things. Somebody with a full time job absolutely doesn't have the time to follow the development in all the areas he has invested in, let alone actively participate. Let's not forget that the maximum investment was capped at 1BTC. This is not a huge amount at all, for somebody investing in crypto. I myself have invested more than that for example in Mastercoin, and have spent time and money worth more than 1BTC mining ProtoShares. Yet I don't have time to check the progress of those two projects more than about once a week. It is just diversification, people don't put all their eggs in one basket. In any such project most of the investors will be just that - passive investors. You cannot blame them for not having the time and technical ability to participate. I do it with Nxt because it happens to be in Java and I hope to be able to contribute as a developer. I don't have the time to figure out the intricate Mastercoin protocols and the long term vision behind ProtoShares, so my investment in those projects is passive. Many of the Nxt stakeholders may have the same attitude towards Nxt - they put some money in it, just in case, and moved on because they are busy with other things. We have to accept it as normal, and BCNext should not risk ruining the whole project because of that.

Thanks for that I now got my BTC payout from this morning. Still waiting for the NXT payout though. Is the blockchain explorer working properly?

So how is that not inflationary.
Ok, stakeholders' assets absolute value remains the same, but the total money supply increases with demand, most importantly, it increases at an unpredictable rate. Money supply increases at a large unpredictable rate, you have prices of products and services nominated in that currency also increase proportionately => more coins chasing the same number of products and services issue. Exactly the same we see in the real world of fiat currencies, so what's the difference?

+1

this is correct. i wouldn't consider to write a new one without these increasing posts about
the buggy client but this needs to change i think.


be sure there will be many usefull services later, but from my pow services needs a demand by users,
many users and the current client seems as an obstacle to me (no offend here) to convince and satisfy
enough users. so i think the best is to remove this obstacle first.

I nominate Klee as one of the respectable members to channel the fund properly.

Hi to all,
I have only few minutes, so I'll make it short.
I'm your average large stakeholder who cannot keep up with the client installations and updateds.
I don't have the time and the tech. knowledge to do that.
I'm not online most of the time for the time being, and this is the reason I said when Nxt started that I'm willing to donate a substantial amount of Nxt to share the burden.
So I'll say it again:
I'm willing to donate more than 3M nxt.
Lets open a fund that will be managed by respectable members that will be able to gurantee that the funds will be spent properly.
For every 2 Nxt that other stakeholders will donate - I'll donate 1 Nxt (3.4M max - already donated 0.4M to bybitcoin and 0.2M privately).
We need a Gavin - someone wants to step forward?

- the web-client is smallest. It require only a browser. Stand-alone client is another layer to trust into.

Of course, its your decision, but 4 weeks of development...   may be Nxt needs some quick useful serveces right now. You are trusted developer, may be you can make mixing service (and gain some deserved profit from it).. or another service.

eMunie is not inflationary. If there is a demand on the free market for 10% more coins, 10% new coins are created, but stakeholders receive free coins, so their assets value stays the same.

Client is very bad now. 0.2.11 worked somewhat, I ran a node for a few days, but the thing was having serious problems with block downloading and required constant restarts, so I stopped. Three next didn't really work, various problems.  
I tried new version about a week ago. All I got was a nullpointer exception msgbox on startup and nothing worked, blocks didn't download, the file's size was perpetually rising to a small value, then resetting to 0 and again.    
It's all closed source so I can't even attempt to fix the code. I decided to wait for the first "official" version in January. Battling with current clients is just an infuriating waste of time.  

If it works and doesn't require constant attention I can run a 24h node.  

All this makes me one of the evil initial investors (disclaimer: one of the smallest) "who doesn't even run a node". I know there are few developers, or even one, but it's by your design. You can't complain while keeping this thing closed source and at the current quality level.  

Bounties etc. This is due to a very serious execution error - a % of original nxt should get reserved for such purposes (even including special shares for developers). Now we have a free rider problem. Perhaps claiming a % of unclaimed coins in January will fix this neatly. If not, I can contribute at least 10k NXT, assuming I don't have to spend hours just to make the client work.  

Last but not least, there really should be an official forum and discussion moved there, separated into several topics. There's nextcoin.org but it seems to be not really used by you. Mega-threads like this one aren't a very efficient method for disseminating information.  

Is it possible to sign transactions on client side? Then users don't need to trust 3rd party servers, they will just check some of them to make sure noone feeds client with incorrect blockchain data.

there will certainly be demand for such software.

I disagree with this statement. eMunie, as far as I understand, doesn't have a fixed coin supply, from what I have read eMunie money supply is flexible to demand, which is exactly the same system as fiat currencies use right now. Central banks provide as much liquidity into the system as populations require. So eMunie is just a decentralized way of doing the same, which is very inflationary. In my opinion, eMunie is not a competitor of NXT at all. If the money supply isn't fixed, the money system isn't even worth looking at, no matter what other fancy features are included in the package. So, there is absolutely no reason to be spooked by eMunie.

thx klee, the nxt-bce was just a quick experiment to get familiar with nxt api/protocol and to contribute.
the *real* work starts now.


the basic idea to design the current client as webinterface has many advantages but also shows weakness in
usabillity for non tech related users. we have to change this. the new client can connect to both, your local
instance as well to a trusted node. the user can decide what fit's better and maintain a trusted node list.
the goal is to keep the client as small and compact as possible, running e.g. from a mini usb stick just by a click.
no installation, no dependencies, totally self contained, non-tech user approved. 

we just need to all chill down a bit, take a deep breath

the tension only happens when all parties involved care. So thats good and a lil tension and pressure will help to make things more efficient.
On one hand we should understand that the devs (esp BCNext) have been working hard and trying to push things faster to get into the market first, which if achieved will give Nxt a great advantage over other competitors. So , he meant well for the Nxt community as a whole.
But on the other hand, we (esp BCNext) should also understand (and should have predicted) that the market could behave this way(i.e the prob of freeridership), which is also a result of all the events happened so far during Nxt development process.

AND IMHO,
-there are definitely many ways to ask/encourage big stakeholders to be more proactive in promoting/helping/supporting/spreading Nxt. and threatening to leave is as irresponsible as the inactivity/reluctance to help of the big stakeholders.
-to the big stakeholders out there, lets start doing something guys, you would rather have 1M of a $10coin than 10M of a worthless coin wouldnt you? (saw this quote somewhere)

Cheers,

PS Lets all act for a greater good haha