(in words ONE)
This was unnecessary and dickish.
Don't be a dick (second rule of feedback)
True.
Topic: NXT :: descendant of Bitcoin - Updated Information - page 249. (Read 2761645 times)
This was unnecessary and dickish.
Don't be a dick (second rule of feedback)
True.
We smile all the times, my friend.
remember, there's a little bit emule in everyone of u 
Now ur happy and all smiling because price seems to bounce off from the down trend?
My comments regarding "price" were not intended as "speculation" (but seemingly have been interpreted that way).
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
Pumpquote.
Marketing "Fast" is a successful Nxt marketing theme. I think my 47 second video could be made faster, creating a new Nxt testnet account, logging out and back in all in under 30 seconds. It is just one example of the "Instant" Functions of Nxt. nxtra.org/nxtclient/
https://www.youtube.com/watch?v=Br4HEt_HbOY
https://www.youtube.com/watch?v=Br4HEt_HbOY
+1
So what ever the reason for that is, which i dont know, i can use it to my advantage by emulating that business to a t.
Get a lawyer for this.
remember, there's a little bit emule in everyone of u
multigateway status
Finally got a chance to do some coding today. Started rewriting pretty much everything to use all the new lower level code and implementing fragmented multisig accts. I am also putting in queues all over the place to properly deal with waiting for enough confirmations, along with threads to be able to independently process things. When this version is done, supporting a new bitcoind fork is a matter of creating the following:
I think from this I will be able to generate all the coin specific functionality needed. Installing all the daemons will be the most time consuming part of adding support for a new coin.
The biggest change is that I am creating a separate multisig address for every NXT account. Instead of sweeping deposits from a temporary deposit address to giant shared acct, the address you will send to will be a custom multisig address and it wont need to be swept into a shared acct. This saves a txfee and also the time to when the funds are available to process withdrawals. Automatically creating a different multisig address was lots of fun, well maybe not so much.
The biggest advantage is that over time no deposit acct will be significantly larger than the average as I will be processing withdrawals to get the multisig accts as balanced as possible, within reason. There needs to be enough in the accounts to be able to handle most withdrawals, otherwise I will need to make multiple transactions to fulfill them. With the accounts becoming the average (total_deposits/total_depositors) I expect hackers wont bother to try to crack the accounts, especially since they would need to compromise two servers simultaneously. Also, before, there was a brief moment from when a deposit came in to when it was swept into the shared multisig, that it was a single point of failure. A compromised server would allow the attacker to intercept the sweep. Now every single transfer is multisig, so this risk is gone. Thanks to antanst for insisting on this!
I've got the deposit side mostly coded, but the withdraw side is going to be a bit tougher. I probably wont have a new release until early next week. Lots of new code to debug.
James
Finally got a chance to do some coding today. Started rewriting pretty much everything to use all the new lower level code and implementing fragmented multisig accts. I am also putting in queues all over the place to properly deal with waiting for enough confirmations, along with threads to be able to independently process things. When this version is done, supporting a new bitcoind fork is a matter of creating the following:
Code:
#define DOGE_COINID 1
#define DOGE_COINASSET "7761388364129412234"
#define DOGE_milliCOINASSET "6572437125760810791"
#define DOGE_microCOINASSET ""
#define DOGE_DAEMON "~/dogecoin/src/dogecoind"
#define DOGE_TXFEE 1.0000 // don't forget to match txfee with coin
#define DOGE_MIN_CONFIRMS 3
#define DRK_COINID 2
#define DRK_COINASSET "17096466694389279761"
#define DRK_milliCOINASSET "16905873901305658008"
#define DRK_microCOINASSET "11178018426996305671"
#define DRK_DAEMON "~/darkcoin/src/darkcoind"
#define DRK_TXFEE .0001 // don't forget to match txfee with coin
#define DRK_MIN_CONFIRMS 3
#define DOGE_COINASSET "7761388364129412234"
#define DOGE_milliCOINASSET "6572437125760810791"
#define DOGE_microCOINASSET ""
#define DOGE_DAEMON "~/dogecoin/src/dogecoind"
#define DOGE_TXFEE 1.0000 // don't forget to match txfee with coin
#define DOGE_MIN_CONFIRMS 3
#define DRK_COINID 2
#define DRK_COINASSET "17096466694389279761"
#define DRK_milliCOINASSET "16905873901305658008"
#define DRK_microCOINASSET "11178018426996305671"
#define DRK_DAEMON "~/darkcoin/src/darkcoind"
#define DRK_TXFEE .0001 // don't forget to match txfee with coin
#define DRK_MIN_CONFIRMS 3
I think from this I will be able to generate all the coin specific functionality needed. Installing all the daemons will be the most time consuming part of adding support for a new coin.
The biggest change is that I am creating a separate multisig address for every NXT account. Instead of sweeping deposits from a temporary deposit address to giant shared acct, the address you will send to will be a custom multisig address and it wont need to be swept into a shared acct. This saves a txfee and also the time to when the funds are available to process withdrawals. Automatically creating a different multisig address was lots of fun, well maybe not so much.
The biggest advantage is that over time no deposit acct will be significantly larger than the average as I will be processing withdrawals to get the multisig accts as balanced as possible, within reason. There needs to be enough in the accounts to be able to handle most withdrawals, otherwise I will need to make multiple transactions to fulfill them. With the accounts becoming the average (total_deposits/total_depositors) I expect hackers wont bother to try to crack the accounts, especially since they would need to compromise two servers simultaneously. Also, before, there was a brief moment from when a deposit came in to when it was swept into the shared multisig, that it was a single point of failure. A compromised server would allow the attacker to intercept the sweep. Now every single transfer is multisig, so this risk is gone. Thanks to antanst for insisting on this!
I've got the deposit side mostly coded, but the withdraw side is going to be a bit tougher. I probably wont have a new release until early next week. Lots of new code to debug.
James
Upvote please at reddit,
New!!! New ALT Pools Payout in NXT!!!
http://www.reddit.com/r/CryptoCurrency/comments/20vup4/new_alt_mining_pools_payout_in_nxt/
New!!! New ALT Pools Payout in NXT!!!
http://www.reddit.com/r/CryptoCurrency/comments/20vup4/new_alt_mining_pools_payout_in_nxt/
My comments regarding "price" were not intended as "speculation" (but seemingly have been interpreted that way).
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
I don't really know any other way to interpret what you said. It's pretty clear if you ask me and if you feel I'm taking you out of context I'd love to be shown in what way.
Anyway, I think I've said enough on all of this. Anyone who doesn't get what I'm saying at this point is probably never going to get it. I'm glad I got it off my chest and now it's time to move along. Feel free to talk all the shit about me you want.
Anon136, your proposal sounds similar to the function of the "pawn ticket" for U.S. pawnshops. I don't know under what auspices they are not classified as securities, but in effect they operate as bearer bonds for the item(s) held by the pawn shops.
I think the reason it is not classified as a security is that the pawn shop/dry cleaners dont have a fiduciary duty to redeem. For instance, if their store burns down with your clothes, I doubt you can go to the dry cleaners afterwards for a refund. So, the claim checks are not secured by anything other than the business goodwill of the shop. Kind of like an unsecured loan.Generally speaking securities tend to be fungible items, and usually pawn shop/dry cleaner claim checks are not for fungible items. The fact that you are using the claim check model for presumably fungible silver items is probably not going to make it a security, but maybe they will change the law because of you
James
oh well if thats the case than its easy. i wont promise to redeem anything. ill reserve the express right no not redeem anything you send me at any time for any reason. infact i wont even say the purpose of the token is to be redeemed for silver, if you do happen to send one to me, and it does happen to result in a silver bar being delivered to your door than that's pure happenstance. you guys can just decide for yourself whether you believe that sending me one of these tokens will happen to result in a silver bar arriving at your door.
"Bailment is a common law term which expressly provides that though possession of the asset has been transferred the ownership remains with the transferor"
Maybe the key thing is that ownership has not been transferred? I think if you own a security (like a stock) you actually own a piece of the company. Claim checks looks like they are a form of loan, all very confusing, you need to pay some lawyer lots of money to figure it all out
http://sachasingh.blogspot.com.ar/2009/04/securities-collaterals-and-guarantees.html
James
yes that is something i will do as soon as i make enough profit in the endeavor to fund it.
My comments regarding "price" were not intended as "speculation" (but seemingly have been interpreted that way).
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.
Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.
BN, Welcome to my Ignore List! The rest of the productive Nxt community, keep up the hard work, and press the Ignore button for Trolls.
wesleyh, thanks for updating your client today. Jean-Luc thanks for releasing NRS 0.8.11. intmain() welcome to the Nxt community; can't wait to see what you create on Nxt.
And Nxt has a mining pool or two (mining alts, paying in NXT! How cool is that?!?!
wesleyh, thanks for updating your client today. Jean-Luc thanks for releasing NRS 0.8.11. intmain() welcome to the Nxt community; can't wait to see what you create on Nxt.
And Nxt has a mining pool or two (mining alts, paying in NXT! How cool is that?!?!
Well I guess you can't read this then, but if ignoring me is the way you respond to someone directly and verifiably disproving your incorrect assertions against them I'll go ahead and count my deprivation of your communication as an overall win.
opticalcarrier, no one is threatening BrianNowhere. BrianNowhere brings up some good points but throws FUD like " there's a lot of group-think over there" (here in this thread) and " the way the developers see it is that Nxt will only be the fuel used to trade in other currencies and therefore the value of Nxt can never go very high," BrianNowhere quoting CIYAM Open out of context possibly (or CIYAM Open being wrong about something)
Either no one thinks Nxt could ever be worth more than a few cents or someone has a lot of confidence in the ability for this community to adapt on the fly very quickly to market forces. Also everyone will have to update software everytime this takes place.
Updating software is something I think everyone has already adapted to (in fact most likely the majority of the software you are using "updates itself").
The value of NXT *can never be very high* as it is basically just *fuel* to run the engine. There seem to be a lot of people in this forum who just "don't get this" (perhaps because "greed" is blinding them to reality).
I think it would be a fair prediction that the price of NXT could be determined mathematically by the available supply along with the number of users and transactions.
Speculators should be looking to purchase Assets in order to "make big profits" and again the "fees" will be determined by the two main points I mentioned (if you make them too low then then network dies due to spamming and no incentive to forge and if you make them too high it dies due to competition with other such networks).
So - how low are the fees going to be?
It is a *competition* between Mastercoin, Bitshares, Ethereum and Nxt (you could call it a *race to the bottom*).
Marketing "Fast" is a successful Nxt marketing theme. I think my 47 second video could be made faster, creating a new Nxt testnet account, logging out and back in all in under 30 seconds. It is just one example of the "Instant" Functions of Nxt. nxtra.org/nxtclient/
https://www.youtube.com/watch?v=Br4HEt_HbOY
https://www.youtube.com/watch?v=Br4HEt_HbOY
Anon136, your proposal sounds similar to the function of the "pawn ticket" for U.S. pawnshops. I don't know under what auspices they are not classified as securities, but in effect they operate as bearer bonds for the item(s) held by the pawn shops.
I think the reason it is not classified as a security is that the pawn shop/dry cleaners dont have a fiduciary duty to redeem. For instance, if their store burns down with your clothes, I doubt you can go to the dry cleaners afterwards for a refund. So, the claim checks are not secured by anything other than the business goodwill of the shop. Kind of like an unsecured loan.Generally speaking securities tend to be fungible items, and usually pawn shop/dry cleaner claim checks are not for fungible items. The fact that you are using the claim check model for presumably fungible silver items is probably not going to make it a security, but maybe they will change the law because of you
James
oh well if thats the case than its easy. i wont promise to redeem anything. ill reserve the express right no not redeem anything you send me at any time for any reason. infact i wont even say the purpose of the token is to be redeemed for silver, if you do happen to send one to me, and it does happen to result in a silver bar being delivered to your door than that's pure happenstance. you guys can just decide for yourself whether you believe that sending me one of these tokens will happen to result in a silver bar arriving at your door.
"Bailment is a common law term which expressly provides that though possession of the asset has been transferred the ownership remains with the transferor"
Maybe the key thing is that ownership has not been transferred? I think if you own a security (like a stock) you actually own a piece of the company. Claim checks looks like they are a form of loan, all very confusing, you need to pay some lawyer lots of money to figure it all out
http://sachasingh.blogspot.com.ar/2009/04/securities-collaterals-and-guarantees.html
James
BN, Welcome to my Ignore List! The rest of the productive Nxt community, keep up the hard work, and press the Ignore button for Trolls.
wesleyh, thanks for updating your client today. Jean-Luc thanks for releasing NRS 0.8.11. intmain() welcome to the Nxt community; can't wait to see what you create on Nxt.
And Nxt has a mining pool or two (mining alts, paying in NXT! How cool is that?!?!
wesleyh, thanks for updating your client today. Jean-Luc thanks for releasing NRS 0.8.11. intmain() welcome to the Nxt community; can't wait to see what you create on Nxt.
And Nxt has a mining pool or two (mining alts, paying in NXT! How cool is that?!?!
this can be mined now with scrypt gpus? What? How did this happen, and what kind of returns is this seeing?
please take a look at:
https://nextcoin.org/index.php/topic,4399.0.html
two pools available:
http://hashrate.org/
http://www.p00l.org/
both pool are in beta phase.
EDIT: nxt pool mine sh*t coin and automatically exchange them for nxt, then the pool pay you with nxt.
I've pointed my KnC miner at it to see what happens
Think the pool stats are a bit variable but will be interesting to see what the pool can earn in NXT per Gh, I like the idea of mine and dump the crap to get NXT...
Damelon, I agree with you that open software development and addressing concerns are important.
However, when a statement like, "What's kept me from dumping all my Nxt in disgust over being "lied" to, was the fact the "switch" that I took the "bait" for was actually pretty compelling in itself." is made by BrianNowhere it shows derisiveness.
No one "lied" to BrianNowhere about Nxt. Nxt did not pull a "bait and switch". Those are "emotional intensifiers" and are not representative of the communications of the Nxt community.
Nxt is developing and has many compelling advantages over Bitcoin. Nxt is young and needs more development and input from testers and users. Nxt does not need inaccurate information maliciously spread about it.
However, when a statement like, "What's kept me from dumping all my Nxt in disgust over being "lied" to, was the fact the "switch" that I took the "bait" for was actually pretty compelling in itself." is made by BrianNowhere it shows derisiveness.
No one "lied" to BrianNowhere about Nxt. Nxt did not pull a "bait and switch". Those are "emotional intensifiers" and are not representative of the communications of the Nxt community.
Nxt is developing and has many compelling advantages over Bitcoin. Nxt is young and needs more development and input from testers and users. Nxt does not need inaccurate information maliciously spread about it.
On the reddit.com/r/Nxt page, in the right hand margin, written by a community member from these forums:
Nxt is an entire new ecosystem. All features are fully decentralized. It offers a 100% POS cryptocurrency with instant transactions, an alias system, arbitrary messages and an asset exchange.
Unlike traditional currencies such as dollars, Nxts are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Nxt. As such, it is more resistant to wild inflation and corrupt banks. With Nxt, you can be your own bank.
I think I'm the one battling FUD now.
opticalcarrier, no one is threatening BrianNowhere. BrianNowhere brings up some good points but throws FUD like " there's a lot of group-think over there" (here in this thread) and " the way the developers see it is that Nxt will only be the fuel used to trade in other currencies and therefore the value of Nxt can never go very high," BrianNowhere quoting CIYAM Open out of context possibly (or CIYAM Open being wrong about something)
I'm sorry you feel that way but the fact is that is exactly what was said to me by CIYAM OPEN. I am not taking him out of context and I'll dig out the quote if I have to. I also do think this thread lends itself to group-think and I'll say it again.
And more FUD from BrianNowhere, " I fail to see how generating one block (with 3 NXT) every 205 years will net me 1% annual interest." Nxt did not claim to offer 1% interest. Expecting a 1% return on 9 cents? Really?
This is another piece of conventional wisdom that is being spread around here and everywhere. Again I can produce examples if you insist on making me dig through old posts. I'm not just making things up.
This is a Nxt developer thread whose sole purpose is to shape the features of Nxt by interacting with the community. When this thread is derailed by FUD, productivity goes down.
Oh boo hoo. There's some FUD for you.
BrianNowhere offered to help find programmers for Nxt, but then immediately continues to spread FUD. Then BrianNowhere is upset when his FUD is rebutted. And now we have a wall of FUD over at Reddit about Nxt. No thanks BrianNowhere.
People here basically suggested I go away, so I did. I only notified people here of the post out of a sense of fair play in case anyone wanted to counter anything. I've tried to be polite about my concerns and opinions which I do have a right to. I don't see what my offer to help find developers has to do with any of that. EDIT: It is points like this, quoting BrianNowhere, "These (Nxt) developers need to realize that they need to compete by having better features and systems that work better than their competitors whether their competitors are centralized, decentralized or whatever. Decentralized and Open source and even "Greener" are weak selling points for the majority of people. " that illustrate the difficulty in unified marketing of Nxt.
I stand by my statement 100%
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