Topic: NXT :: descendant of Bitcoin - Updated Information - page 351. (Read 2761645 times)

We just to make sure that nodecoin is known as a private asset created by a random guy if nodecoin is shit edit: and destroys the world

+1440 !
James, please ignore this minority, and continue your great work!

In a year we will have 4000 coins built on top of Nxt.

Wanna help to get there?

- ignore the trolls that are trolling our devs
- help our devs

- lick us at facebooks and twitters and retweet us

I'm playing catch-up on the pub-crawl thread.  Last several pages have been an interesting read.

Hey guys, have this play while you read this thread:
http://www.youtube.com/watch?v=d-diB65scQU

Let Nodecoin alone!
And let it live ontop of Nxt!

I´ve set up tests at TestPad, sent out the access to all known users who wrote me a PM that they would like to test.
Unfortunately the Test Management System is barely used by anyone, although it is a very good tool to track progress and bugs.

Don't know if it is always good. But yeah. +1

Who is leading the tests of the AE?

Who can tell us we have tested everything and we can go live!

McJavar?

I want to discuss this nodecoin from another side:

James, you are a machine. Please keep coming up with ideas. And here is my problem: Do you have enough energy and time for NXTcash, NXTmixer, multisig gateway, nodecoin and creating other new ideas? If not, I would be very thankful if you would focus a little more. If yes, please go on


Another important point. Please explain to us what the interaction between all these things is and what kind of market dynamics it could create. I think the negative opinions will diminish once there is a better understanding.

My english sucks and it's why I don't write a lot here.

But this time, I should say : What's the problem with Nodecoin and the work of James ?

Nodecoin is "just" an Asset... like others. There is no danger for NXT. The security is always based on NXT. No change.

About the value of Nodecoin, it's simple : if nobody buy Nodecoin, the value is 0. If you think that is useful, you can buy some and it has some value. The value depends of the NXTers.

If you don't have NXT and no money to buy some, you can have some Nodecoin. But the goal of Nodecoin is to buy eventually some NXT to forge.

Message to James : continue to work. Your things are great. NXT needs your projects. Don't take attention to the haters and hear the silent majority who like your work. I'm one of them.

I think Nodecoin is cool too. I would leave my client open to earn more.

I have no idea what it is. But I can earn 'something' for doing a really simple task.
That's awesome. Gonna collect as much as I can. Woohoo!

I have read the last 10-15 pages and it's unfair to attack James for creating Nodecoin.
Because EVERYBODY can do it. If James doesn't create it, someone else will. NXT made this possible.

So when you attack Nodecoin. You are actually attacking NXT itself which made this possible.  

I think Nodecoin is a cool extra feature. Even if it will be worth nothing
Maybe we can think about a new service using Nodecoins, like writing a cool interface for messaging and using Nodecoin as payment? Anyone interested?

+10

Can somebody explain to me, how asset "nodecoin" will harm NXT? If it would have name "nodeasset", so maybe problem is gone? If follow this logic, then every asset in AE (boobs, pens, etc.) will harm NXT. So we need to shutdown AE? Maybe I'm dumb and don't understand that nodecoin is not one of the 1000 assets in AE?

Thanks for your well balanced and even handed answer. A lot to chew on and I will. I respect what you are doing James and am in awe of your work ethic. I'm not sure how the nodecoin idea will work out but at least you are creating possible solutions. I'm a mere fly on the wall, hoping smart guys like you figure out the potential problems.

You're reply was condescending and very biased. You said it yourself. Servers cost money to run. You haven't convinced e me that a decentralized ledger is anymore trustworthy than a distributed one is. NXT does not have miners like Bitcoin does, and requires a large portion of users to run open clients. No one knows if enough people will do this, especially since there's little financial incentive to do so.
It's a big unknown when it comes to POS and whether it will as well as BTC's mining system.

As far as I or anyone knows,  NXT's "decentralized" ledger may represent weaker security than Ripple's distributed ledger. Maybe a lot of people will run open clients at first and then lose interest in doing do. Maybe the network will be weak, maybe not. Who knows. We won't know for many many years.


There's a double-spending risk with NXT unless you wait for 10 confirmations. The promised 1000 TPS is very much in doubt.
As far as I know Ripple is 3-15 seconds per transaction and can't be double spent. Advantage Ripple.


The DDOS attacks I'm talking about will be against people who run open clients when Transparent Forging is implemented. Everyone has to broadcast their IP to the entire network meaning any script kiddie can attack you as soon as it's announced you are next in line to generate a block. Running a node means opening yourself up to attack. This only further disincentives people to run nodes. It's a severe weak-point and a huge question mark.


Yes, anyone can issue an asset in Ripple. Then you have to obtain trust for any sane person to buy it. Just like in NXT.

Messaging: does the world need this that badly? Don't we already have email and a million other ways to send messages for free? Not that impressed.
Voting: yeah that's kind of cool but if no one uses NXT then who cares. This is also possible with Bitcoin or any other blockchain based network.  


I'm referring how whenever someone asks who will run NXT's servers it's implied that people who have a lot invested in NXT and are running assets will run them. To me that's not much more decentralized than what Ripple does. It's slightly less centralized.

Since anyone can run rippled (server), I'm not worried about something happening to Ripple Labs servers, because just as in NXT, entities with a vested interest in Ripple, like Peercover and Bitstamp would be motivated to run rippled servers. My point there is that the lines that separate why NXT is so much less centralized than Ripple is get blurrier all the time.

The world does not need a billion different digital currencies. It needs one. It's going to be Bitcoin unless a Next Generation currency
replaces it. If Bitcoin remains king then Mastercoin probably wins all the other territory (Decentralized Exchanges, etc) that NXT is trying to corner because it's built on top of BTC.
Ripple poses a threat to Bitcoin because it's greener, way faster and would work great a point of sale. It's far easier to use as well.

NXT right now is pretty much as slow as Bitcoin. Has a questionable and unproven method "forging" to secure the network and will require well heeled people to run high end servers.

I just don't see how it's much superior that's all. This is coming from an investor in NXT. I'm also heavy on XRP because at the end of the day the ledger type is irrelevant to regular human beings. They will go with what works best.

- The question "to create nodecoin or not to create" has no point in open source crypto world. If there is tx malleability in bitcoin, then someone will exploit it. The only way to prevent it is to modify bitcoin protocol and eliminate the malleability. The same with nodecoin. May be it is an exellent idea and nodecoin will thrive along with Nxt. May be it will harm Nxt, and the only way to eliminate it will be to modify the Nxt protocol.

Nxt have a better innovation compared to other altcoins popping up everywhere, but the only thing that is keeping it from progressing is the inability to mine Nxt when you have zero balance from you account or even if you have a thousand of it, decentralize means it is not controlled by a few big stake holders.

Ripple community is a small circle of about a dozen guys who are mostly composed of naysayers who dont do much other than rip other people's ideas to shreds. A few fanboys, but at any given point in time only a few people are even on the forum. I defected over to NXT when I was reprimanded for trying to get a NXT market jump started over new years holidays. It seems the ripple forum is moderated by people who view anything close to ripple as a threat that needs to be squelched. NXT certainly fit the bill.

From a trader's perspective, USD != USD due to no cross redemption agreements between the various USD gateways. This leads to situations where you can pay a 50% premium to purchase BTC. Especially due to the large spreads going from anything to XRP and from XRP to anything else. There are basically 5 "active" markets in ripple BTC/XRP, USD/XRP (2) and CNY/XRP (2) The total trading volume in all five is less than NXT volumes are now and this is when NXT is "sleeping"

Oh, the giant elephant. 48 billion more XRP to be "distributed", which at any moment can disrupt the entire XRP ecosystem. Already, Jed McLeb donated many millions of XRP, which immediately diluted all XRP holdings. Basically any XRP based business that was holding XRP inventory lost 10% of value before they could do anything about it. Not that you can do much about it due to such low volumes in the market. Currently the bitcoin bridge is not working and hasnt been for 2 weeks. An inconvenience if you have a bitstamp acct, if not your XRPs and BTC inside ripple are trapped with no way out.

ripple has an AE like mechanism, but takes the position that they wont have anything to do with what happens. It is buyer beware. Also no restrictions on who can issue any specific IOU (ripple asset). Some scamster can (and has) issued "gold backed" IOU except the gold was not really accounted for and at best was something like one third backed. Another guy issued an asset that was backed fully by BTC (or so he said), but it started out at a price of 1.05 BTC. he said he would have an automatic bot that gradually raised the ASK price to 2 BTC, and because of this it was a good investment. sockpuppet show ensued.

He doesnt get reprimanded for that, but I do for trying to create a NXT market in ripple that had potential to get good volumes.

Ripple is slow to react. Everything has to go through proper channels, corporate management, PR and legal review, etc. In the time ripple decides to do one thing, NXT can (and has) done dozens of things.

NXT has a community that can protect its users from harm. NXT community has already tracked down crooks, got them to cough up ill gotten gains and made returns to victims. We have made continual improvements as fast as we can to protect users from newbie errors and I imagine we will continue to do so until we get it 100% foolproof.

Ripple is not really extensible. After they get all the bugs out,they will have a nice cross currency payment system that is totally transparent to all govt authorities. This is a concern as USA is in the process of implementing regulations that will force people to somehow prove the provenance of all their crypto. If they cant prove where it came from, it will be deemed to be illegal and probably confiscated. Even if they dont confiscate your ripple holdings, they will be able to identify by name, address and social security number each and every account and be able to backtrace all transactions. The trend is to assume people are guilty until proven innocent. Not exactly the home of freedom and individual rights the american PR machine leads the world to believe.

Is there anyway to add anonymity to ripple? There might be technically, but it is sure to be killed by the powers that be. Ripple has its place. It will be a perfect fiat gateway for all of crypto. Somebody has to fill that role and ripple does nicely at that.

The liquidity here will be better because that is one of the things I have set out to do. non-profit automated multisig gateways will allow this to be possible. It will charge enough fees to pay for its expenses and it wont be a monopoly, but it will be there for NXT community to be able to trade with low spreads. Where there are low spreads, there will be liquidity.

Ripple community did not want to listen to me and took measures to squelch me. At least here, we might disagree and tempers might flare, but at the end of the day there are many people who actively support what I am trying to do, both in public and in private, with encouragement and actual money. NXT community has its share of people who would fit right in with the ripple crowd, but there are a large number of people who are here not just to make a quick fortune, but really want to help change the world for the better.

For those of you who have not noticed, the war on bitcoin is escalating and with actual cash on its way to becoming less and less accepted, we MUST create anonymous crypto or there wont be any financial privacy left in the world anymore. NXT can achieve this, ripple cant.

In summary, anything ripple can do NXT can do it better. This would be the reason why businesses are better off building on top of NXT instead of on top of ripple. If we all just focused on helping businesses quickly get up to speed using NXT, it will be no contest at all. We need to think like we are an ethernet cable. We want packets going back and forth. The more activity, the better. At some point one of the NXT businesses will crack the joe-sixpack market (or teenage girl market) and go mainstream with their service. Most people wont know or care it is built on NXT, but 1% will probably find out. If it is a 10 million person market, 1% will add 100,000 active NXT users.

James

I think the Nodecoins will help Nxt and not harm Nxt.
It's an additional feature like Whats app helped the Smartphones.