Contacting merchants to begin accepting Nxt is underway. Here's the stages:
1. Contact existing CoinPayments.net merchants to request Nxt
2. Contact the merchant list that accepts Litecoin
3. Work with marketing to put together a brochure
4. Begin finding new small customers and demo how CoinPayments (and other solutions as they appear) can easily integrate
1. Contact existing CoinPayments.net merchants to request Nxt
2. Contact the merchant list that accepts Litecoin
3. Work with marketing to put together a brochure
4. Begin finding new small customers and demo how CoinPayments (and other solutions as they appear) can easily integrate
+10.
I'm probably going to be posting more about this later, but we need to make NXT successful as a 1st gen crypto before we can build on that success to become a 2nd gen eco-system.
Getting merchants on board, enabling merchant solutions needs to be given some priority right now.
The exchange push seems to be paying off, I suggest that we slowly shift some of our efforts over to merchant solutions in the next week or so.
Next point is nodes, running of and rewards for.
I've been doing some thinking about Nxt, and would like to make a guess at the third part of BCNext's plan:
The minimum transaction fee for Nxt must be set to zero, OR (far less likely) the process of awarding fees for forging must be removed completely.
Nxt services already operate on top of nodes, so the network is secured and the blockchain is maintained as a consequence of the service's existence. Value is created at layers above the Nxt core, and "forging-only" nodes become valueless and therefore obsolete.
The only way to allow 100% availability is to remove the dependence on a minimum transaction fee, and move the profit/reward for the service up into the same layer at which the service is offered.
I believe that one element of BCNext's plan is to set the minimum transaction fee to zero.
The minimum transaction fee for Nxt must be set to zero, OR (far less likely) the process of awarding fees for forging must be removed completely.
Nxt services already operate on top of nodes, so the network is secured and the blockchain is maintained as a consequence of the service's existence. Value is created at layers above the Nxt core, and "forging-only" nodes become valueless and therefore obsolete.
The only way to allow 100% availability is to remove the dependence on a minimum transaction fee, and move the profit/reward for the service up into the same layer at which the service is offered.
I believe that one element of BCNext's plan is to set the minimum transaction fee to zero.
Whether this is part of The Plan or not, falling fee costs is going to happen on its own by selective pressure. Cheaper fees will create greater demands for services and the logical conclusion is fees approach zero or get there.
The real problem is that there is practically zero financial incentive now for running a node forging NXT, and that financial incentive is only going to get worse. Running the node backbone net is thus going to become more and more of a civic duty rather than pay-its-own-way. Actually, it probably already is that way. We set up all those VPS nodes back in December during the DDoS attack and only now are the true costs coming to light. Many of those operators are now saying they can't keep running their VPSs out of personal funds forever.
This is why I want to be in the infrastructure committee. We have got to figure out how to set up the cheapest possible coordinated (rather than patchwork) network that can support higher and higher TPS, and we need to figure that out sooner rather than later. I think this is an underappreciated problem and an interesting challenge.
We need more nodes, no argument, especially if we want to get seriously traded and used as a 1st gen currency.
More later, but we need to address this very soon......
BTW: thx to 70175...... whoever you are. Very much appreciated.
Any time anyone bitches about whales who dont care, remember the last couple of hours.....
