Topic: NXT :: descendant of Bitcoin - Updated Information - page 570. (Read 2761626 times)

Well, what am I missing here? I think this is the biggest hoax..

damn it. I missed the private placement.

a stupid question: where is the registration fee going? to the lucky miners?

Possible motivations:

- spam prevention
- Name squatting
- scamming possibilities by issuing nearlyidentical assets (like "BTC.")
- entry barrier for raising money (e.g. social credit system)
- overwhelming confusing supply of different assets

what else?

Good news everyone.
Video already done, you can download it from this topic:
https://nextcoin.org/index.php/topic,3981.msg37555.html#msg37555

Well, I agree. Fiat volume is one key success factor of NXT.

What target audience do you think would be interested in NXT?

I think banks are not interested as NXT is the holy thread to their current, very profitable system.

OK.
3M NXT (up to 5M for additional features) for atomic cross chain transactions.
Conditions:
a) working client for average user;
b) official approve of all three NXT Funding Committees;
c) fully working asset exchange;
d) working transparent forging in the part marked bold:
Last two conditions are my conditions to stop holding investment in 50M NXT.

whales need to stop selling below 1$


simple: draw the money into nxt! nxt need BUY VOLUME!

you dont get that by shaking hands on conferences exchaging printed businesscards.

marketing must shift and focus on investors, not in the public that already know nxt as they do now.

GO GET THE MONEY

That's right.

But I want a broader discussion of motivation and implications before we just say "come on, let's make it free".

If you cannot pay 1000 NXT for an asset, then what is your asset going to do anyway?

The amount of fee that needed to be paid to register for a start and then also perhaps we could limit Class B Asset to not being able to have as many units/shares.

Indeed - and there was no empirical data presented to "justify" the penalty (or whatever we call it - the *name* of it is not an issue to me - so call it "a rose" but I still think it is a kludge and I am not convinced it will help with the security of the network).


The issue I am referring to is perhaps best illustrated like this:

A1 - B
A2 - B
A1 - C
A2 - D

So assuming that A1 and A2 have the "same weight" then B here is trying to keep both A1 and A2 branches going whilst C and D have each only built on the 1 branch.

Now here is a possible next step:

A1 - B
A2 - B - E
A1 - C
A2 - D - F

Here E and F have separately chosen A2 - B and A2 - D as being "their first choice" and only built upon those (being non-malicious nodes).

So now B's attempt to continue the A1 branch has failed (that fork will likely die now) simply because E did not try to forge 2 blocks at the same height.

Now if we were instead to use the "penalty" approach then in fact we would instead have this result:

A1 - B - E
A2 - B - E
A1 - C - F
A2 - D - F

As both E and F know they are going to get penalised by one or other branch they will forge on both branches causing the branching to continue.

I hope this helps clarify what I am seeing and why I think the idea of "only forging the 1 block at the one height" is a better approach (sure people can "cheat" but as shown provided those cheating are in the minority the effect is greatly reduced).

Communities that use social credit systems usually do so because they lack capital.

1000 NXT is just a countermeasure to prevent squatting of best names in the very 1st day after AE is launched. Later we can set the fee to 1 NXT.

There can only be one asset named "DOGE" so different gateways would have "myDOGE" or "otherDOGE", etc.

This is the confusion I am worried about. There is no guarantee that the community will get the asset named "DOGE", it will go to the highest bidder the block AE goes live. I am hopeful that in community spirit the ones that obtain the pure names like "DOGE", "BTC", etc would sell all the assets to the community after issuing the full billion. In ripple, anybody can issue any asset, so it becomes a very dangerous thing for the unaware. With NXT, there can be only one, but there is no guarantee the community will get the pure names...

I am thinking of offering a bounty starting at 5000 NXT for the popular crypto names, with a sliding scale from BTC down to unpopularcoin. Hopefully, a quick 4000 NXT profit and community spirit will allow the community gateways to have the pure names.

My plan B) on this is to just add a random string to all the pure names and get the one that is available across the board. It would then look a bit funny with "djwBTC" "djwLTC" and "djwDOGE" being the community crypto assets, but this way we wont be held hostage by somebody that wants 1 million NXT for the BTC asset. It shouldnt be much work for the clients to special case the "djw" prefix, and it might actually help to have a common prefix so we can have a crypto assets page

James