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Announcing Nxt 2.0 Roadmap singapore
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Author Topic: Announcing Nxt 2.0 Roadmap  (Read 61006 times)

blackyblack1

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Re: Announcing Nxt 2.0 Roadmap
« Reply #40 on: May 25, 2016, 05:55:17 am »

Nxt 2.0 is looking more like a new alt-coin that will co-exist with and compete with Nxt, rather than an evolution of Nxt. Since Nxt 1.0 will continue, you arguably aren't getting diluted at all. The new alt-coin doesn't owe you anything because it is new.

Jeez, that sounds like a major headache. ... So there will be then three currencies I have to keep track of?
Yes. Good old NXT running on 1.9 network. FXT - forging token. FNX - NXT 2.0 token.

And then wouldn't everyone dump their oldNXT as soon as the snapshot is done? Because surely the idea is that the new NXT takes over the old one.
Averaging would prevent from instant dump because some people would dump during averaging period. And someone can decide that 1.0 is more viable than 2.0 and preserve NXT tokens.

I assume FXT is somehow for doing transfers and value keeping? And FNT just for forging stuff? How will each of them retain value? Why shouldn't people just decide to use FNT like they used NXT?
No. FXT for forging. FNX for everything else. Using FXT for transfers is very expensive. Asset exchange and other cool features are not available for FXT as well.
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CryptKeeper

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Re: Announcing Nxt 2.0 Roadmap
« Reply #41 on: May 25, 2016, 09:11:37 am »

Posted it also in "the other bitcoin forum"  ;D
https://forum.bitcoin.com/nxt/announcing-nxt-2-0-roadmap-t8322.html
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farl4bit

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Re: Announcing Nxt 2.0 Roadmap
« Reply #42 on: May 25, 2016, 10:50:32 am »

Posted it also in "the other bitcoin forum"  ;D
https://forum.bitcoin.com/nxt/announcing-nxt-2-0-roadmap-t8322.html
Good job, we need to get it out more!
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #43 on: May 25, 2016, 12:01:54 pm »

I have sent the article info (urls) about the roadmap and overview to
https://www.cryptocoinsnews.com

Hope they will make some news articles about it.
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Marc De Mesel

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Re: Announcing Nxt 2.0 Roadmap
« Reply #44 on: May 25, 2016, 12:05:08 pm »

.

wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #45 on: May 25, 2016, 12:14:21 pm »

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gvans

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Re: Announcing Nxt 2.0 Roadmap
« Reply #46 on: May 25, 2016, 12:56:47 pm »

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Hachoir

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Re: Announcing Nxt 2.0 Roadmap
« Reply #47 on: May 25, 2016, 01:34:14 pm »

No he didn't
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #48 on: May 25, 2016, 01:36:55 pm »

No he didn't

Nevermind we are not going to waste energy.
Let's focus on NXT again.  ;D
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wolffang

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Re: Announcing Nxt 2.0 Roadmap
« Reply #49 on: May 25, 2016, 03:07:53 pm »

Has Allwelder published it on her Asian sites?

Do we know more platforms where we can promote it?

I have the idea that most forums and news sites are infested by Ethereum lovers and they don't like to have Nxt on them.
« Last Edit: May 25, 2016, 03:12:29 pm by wolffang »
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maftol

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Re: Announcing Nxt 2.0 Roadmap
« Reply #50 on: May 25, 2016, 03:35:12 pm »

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kLee

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Re: Announcing Nxt 2.0 Roadmap
« Reply #51 on: May 25, 2016, 05:01:15 pm »

.
Ping me at skype when/if you want Marc!
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Hachoir

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Re: Announcing Nxt 2.0 Roadmap
« Reply #52 on: May 25, 2016, 05:10:49 pm »

No he didn't

Nevermind we are not going to waste energy.
Let's focus on NXT again.  ;D
I don't care if he left it wasn't about it but he didn't make any point and we're not wasting anything.
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NxtSwe

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Re: Announcing Nxt 2.0 Roadmap
« Reply #53 on: May 25, 2016, 07:08:40 pm »

I don't care if he left it wasn't about it but he didn't make any point and we're not wasting anything.
I think you are missing out on the irony here.
He made a one character post containing only a "point" --> .

.
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farl4bit

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Re: Announcing Nxt 2.0 Roadmap
« Reply #54 on: May 25, 2016, 08:44:08 pm »

I don't care if he left it wasn't about it but he didn't make any point and we're not wasting anything.
I think you are missing out on the irony here.
He made a one character post containing only a "point" --> .

.

Haha, I thought the same. Let's keep it light and ontopic here. Continueing on the future!  8)
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ThomasVeil

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Re: Announcing Nxt 2.0 Roadmap
« Reply #55 on: May 26, 2016, 12:06:13 am »

I assume FXT is somehow for doing transfers and value keeping? And FNT just for forging stuff? How will each of them retain value? Why shouldn't people just decide to use FNT like they used NXT?
No. FXT for forging. FNX for everything else. Using FXT for transfers is very expensive. Asset exchange and other cool features are not available for FXT as well.

Thanks for the answers blackyblack.
What I was wondering about are the incentives. With NXT it's very clear: Everyone who owns the currency, wants to make sure the forging is done right and the currency keeps value.
The split then creates a Bitcoin-like situation. Isn't that exactly what NXT wanted to get away from? The holder of the currencyNXT2 might care about the forgingNXT a bit... but with differences. forgingNXT2 owners don't really care much about about currencyNXT2. They support it in an more indirect way.
Does one of these currencies have more 'political' power? Is voting about tech aspects for example done on forgingNXT2? If so, is it not worrisome that the developers have 50%?

This might technically be a great change. But is the incentive part all figured out as well?
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abctc

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Re: Announcing Nxt 2.0 Roadmap
« Reply #56 on: May 26, 2016, 06:24:54 am »

The holder of the currencyNXT2 might care about the forgingNXT a bit... but with differences. forgingNXT2 owners don't really care much about about currencyNXT2.
- what is forgingNXT and what is forgingNXT2 ?   Maybe to stick to the terms of OP is not so bad idea...
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blackyblack1

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Re: Announcing Nxt 2.0 Roadmap
« Reply #57 on: May 26, 2016, 07:38:44 am »

I assume FXT is somehow for doing transfers and value keeping? And FNT just for forging stuff? How will each of them retain value? Why shouldn't people just decide to use FNT like they used NXT?
No. FXT for forging. FNX for everything else. Using FXT for transfers is very expensive. Asset exchange and other cool features are not available for FXT as well.

Thanks for the answers blackyblack.
What I was wondering about are the incentives. With NXT it's very clear: Everyone who owns the currency, wants to make sure the forging is done right and the currency keeps value.
The split then creates a Bitcoin-like situation. Isn't that exactly what NXT wanted to get away from? The holder of the currencyNXT2 might care about the forgingNXT a bit... but with differences. forgingNXT2 owners don't really care much about about currencyNXT2. They support it in an more indirect way.
Impact on the economical and security stability of the NXT may be enormous. But it is decided already. We can stay on NXT 1.0 to be sure though.

Does one of these currencies have more 'political' power? Is voting about tech aspects for example done on forgingNXT2? If so, is it not worrisome that the developers have 50%?
Developers have 50% of FNX. FXT is 100% distributed. FXT definitely has more political power since it is a mother chain and FXT holders decide what to include in it.
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Brangdon

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Re: Announcing Nxt 2.0 Roadmap
« Reply #58 on: May 26, 2016, 08:10:41 am »

What I was wondering about are the incentives. With NXT it's very clear: Everyone who owns the currency, wants to make sure the forging is done right and the currency keeps value.
The split then creates a Bitcoin-like situation. Isn't that exactly what NXT wanted to get away from? The holder of the currencyNXT2 might care about the forgingNXT a bit... but with differences. forgingNXT2 owners don't really care much about about currencyNXT2. They support it in an more indirect way.
Does one of these currencies have more 'political' power? Is voting about tech aspects for example done on forgingNXT2? If so, is it not worrisome that the developers have 50%?

This might technically be a great change. But is the incentive part all figured out as well?
As I understand it, the main forging FXT chain will not support voting transactions, but the FNX child chain will support vote-by-FXT-balance. So we will have vote by forging power, and I assume such votes will help decide technical policy. All the FXT will be distributed. For the devs to hold 50% of FXT (ie, 50% of forging power) would be a problem for security even without voting, because they could use it to launch a 50% attack. They will reserve 50% of FNX, but that doesn't have the same security/trust implications.

It's certainly possible that some people will have lots of FXT and no FNX, in which case they'll have forging power without necessarily caring about the transactional coin. When we have many child coins, they might own those instead, and want to promote them over FNX. Hopefully this competition will be healthy.

Unlike Bitcoin, there will be no block-reward, so there's no big incentive to produce empty blocks. Forger's income will surely depend on people using one or other of the child-chains, so they do have incentive to keep at least one of them healthy. Also unlike Bitcoin, forging doesn't require a massive investment in hashpower that will quickly be made obsolete by Moore's Law. Hopefully that will give Nxt 2.0 forgers a longer-term outlook than Bitcoin miners.

I can certainly imagine a world in which, say, Russia has one child chain and America manages another, and each uses their forging power to cause problems for the other. (Or maybe it will be a Christian chain and a Muslim chain, or a Mafia chain and a Yakuza chain, or a Google chain and a Microsoft chain - replace with whichever power blocks you want.)
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websioux

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Re: Announcing Nxt 2.0 Roadmap
« Reply #59 on: May 26, 2016, 08:36:50 am »

50% of FNX supply for devs is not a problem!

It is only like an asset, they may have 90% it will only have the value people want to give it to. As soon as some of us wake up to request a second childchain with all features that we may call NXT2 and distribute based on 1:1 with NXT1 or FXT, anyone will then make a political choice by deciding the relative value he gives to either token.   
It is not a problem, but it feels very uncomfortable since it is the opposite of what the votes where about, I'm very surprised no one is talking about that. This tells that the temptation of money creation is so strong that even here, people get corrupted by it. Humans can not resist to that. The good thing is that there is built in flexibility. So, in the end, it may turned to be the perfect plan. Good work!

Anyone choose, and devs get some funds to work with anyway.
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