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[PRE-ANN] Time to go further. New Chain is coming. singapore
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Author Topic: [PRE-ANN] Time to go further. New Chain is coming.  (Read 21645 times)

jeezy

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #100 on: March 03, 2016, 10:41:45 am »

Just to clear things up. ALL current "Coinomart"-Brand NXT assets will switch over to the new chain once it goes live, correct? Namely "Coinomat", "Coinomat1", "CoinoUSD", "NEXT", etc.

How is the asset value going to be evaluated for the switch? NXT/BTC?
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Sebastien256

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #101 on: March 03, 2016, 10:52:59 am »

Just to clear things up. ALL current "Coinomart"-Brand NXT assets will switch over to the new chain once it goes live, correct? Namely "Coinomat", "Coinomat1", "CoinoUSD", "NEXT", etc.

How is the asset value going to be evaluated for the switch? NXT/BTC?

I think the asset does not need to be value, the asset is only a token that grant profit and dividend of the underlying asset. Market will decide what will be the order books for the asset on the new chain. So, it is pretty straight forward to make a switch, if this has to be done. You send back the NXT asset to coinomat, and he send you the new asset on the new blockchain.
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coinking

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #102 on: March 03, 2016, 02:37:20 pm »

what is the name of this new currency?

coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #103 on: March 04, 2016, 08:58:48 am »

Just to clear things up. ALL current "Coinomart"-Brand NXT assets will switch over to the new chain once it goes live, correct? Namely "Coinomat", "Coinomat1", "CoinoUSD", "NEXT", etc.

How is the asset value going to be evaluated for the switch? NXT/BTC?
Yes, all the assets will be transferred to the new chain.
The main market for them will be BTC market.
Currently I do not plan to have  network token/asset markets at all, there'll be token/crypto and token/fiat markets only.
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #104 on: March 04, 2016, 08:59:21 am »

what is the name of this new currency?
It's going to be WAVES.
Will ann today.
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #105 on: March 05, 2016, 09:54:14 am »

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Paws1t1veEV

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #106 on: March 08, 2016, 10:02:06 pm »

Ah, so this is why all of Coinomats current assets recently crashed.

Unfortunately, I was buying the dump... but I dont' have a lot of confidence that the value will transfer to the new chain. How will current investors be compensated during the change? It seems the market does not have a lot of confidence that this will occur equitably. Is there any chance you will buy out any of your existing projects?

I may follow as a user, but I think my money is better invested elsewhere.

I wish you the best of luck.

-Paws1t1veEV
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taggartd

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #107 on: March 08, 2016, 10:24:54 pm »

Ah, so this is why all of Coinomats current assets recently crashed.

Unfortunately, I was buying the dump... but I dont' have a lot of confidence that the value will transfer to the new chain. How will current investors be compensated during the change? It seems the market does not have a lot of confidence that this will occur equitably. Is there any chance you will buy out any of your existing projects?

I may follow as a user, but I think my money is better invested elsewhere.

I wish you the best of luck.

-Paws1t1veEV
I don't understand the problem: if 1 share, that now is here in NXT AE and is valued in nxt, go to a new chain that will be in, for example, btc always 1 share it is!! and will have a price in btc. What price? the market will tell. But always one share you have... Probably the value in the new chain will reflect the dividends, as would be just now (also if now it isn't...). This kind of assets have a value generally linked to the dividends; so nothing on the long term would change. I suppose  ;D
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Paws1t1veEV

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #108 on: March 08, 2016, 10:56:57 pm »

Ah, so this is why all of Coinomats current assets recently crashed.

Unfortunately, I was buying the dump... but I dont' have a lot of confidence that the value will transfer to the new chain. How will current investors be compensated during the change? It seems the market does not have a lot of confidence that this will occur equitably. Is there any chance you will buy out any of your existing projects?

I may follow as a user, but I think my money is better invested elsewhere.

I wish you the best of luck.

-Paws1t1veEV
I don't understand the problem: if 1 share, that now is here in NXT AE and is valued in nxt, go to a new chain that will be in, for example, btc always 1 share it is!! and will have a price in btc. What price? the market will tell. But always one share you have... Probably the value in the new chain will reflect the dividends, as would be just now (also if now it isn't...). This kind of assets have a value generally linked to the dividends; so nothing on the long term would change. I suppose  ;D

The users and investors must follow. Liquidity was already low and now moving to an even lower liquidity chain. The new chain must prove that it's at least as trustworthy as nxt before investors will trust it.

I guess I'm just hitting my risk tolerence. Coinomat is a Rockstar and has earned my trust thus far, but
there is too much uncertainty associated with this change in an already risky environment.
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jeff jefferson

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #109 on: March 09, 2016, 06:22:38 am »

i don't think liquidity is a problem as the platform will use btc and fiat also. these currencies are def more liquid than nxt  ::)
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Bitinvestor

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #110 on: March 09, 2016, 08:51:15 am »

i don't think liquidity is a problem as the platform will use btc and fiat also. these currencies are def more liquid than nxt  ::)

I agree with that. NXT is dead in the water right now and it remains to be seen if it can be revived (I doubt it). The move towards BTC and fiat is definitely the right thing to do.
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coinomat

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #111 on: March 09, 2016, 09:53:10 am »

My philosophy here is quite simple - we don't have to invent new MONEY, BTC and Fiat is money,  let's use them. I think some better money will be there too, BTC is just a harbinger. But we're not building money, we're building ecosystem which uses money.
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Marc De Mesel

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #112 on: March 12, 2016, 12:42:17 pm »

My philosophy here is quite simple - we don't have to invent new MONEY, BTC and Fiat is money,  let's use them. I think some better money will be there too, BTC is just a harbinger. But we're not building money, we're building ecosystem which uses money.


The NXT generation of CryptoCurrency.

Yes, we are building a currency, and we do it by offering a decentralised asset - exchange - which you cannot build on top of bitcoin. Counterparty as well as Omni end up trading their assets on poloniex.


Nxt asset exchange has NO counterparty risk. You own the NXT fully, and you own the assets fully, without depending on anyone to hold them for you.


Sure, you can start a new POS coin with a decentralised exchange/assets, but will the currency used, btc, also be without counterparty risk?

Is that possible?

Or will somebody hold the btc for you like superBTC and expose you to counterparty risk?


Really sad to see you go coinomat :(


« Last Edit: March 12, 2016, 12:47:48 pm by Marc De Mesel »
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Marc De Mesel

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #113 on: March 12, 2016, 12:56:12 pm »

i don't think liquidity is a problem as the platform will use btc and fiat also. these currencies are def more liquid than nxt  ::)

I agree with that. NXT is dead in the water right now and it remains to be seen if it can be revived (I doubt it). The move towards BTC and fiat is definitely the right thing to do.

BTC has serious problems. The cost per transaction is going up at rapid speed. I'm paying $0.20 per transaction lately!

You could do it offchain with a new exchange and avoid transaction costs but then you have counterparty risk.


Fiat, well, prepare to fill in many forms if you want to launch an asset!!! You may also need a huge pile of money to get it done.

Bitinvestor

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #114 on: March 12, 2016, 02:11:49 pm »

BTC has serious problems.

Agreed. I despise Bitcoin as much as anybody but it's currently virtually impossible to avoid using it if you're into crypto.

The cost per transaction is going up at rapid speed. I'm paying $0.20 per transaction lately!

OMG, you might have to sell your Lambo if it goes on like this!   :D

You could do it offchain with a new exchange and avoid transaction costs but then you have counterparty risk.

Fiat, well, prepare to fill in many forms if you want to launch an asset!!! You may also need a huge pile of money to get it done.

Trading volumes have dried up on the AE. An exchange is useless if it doesn't have any volume, decentralised or not.
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Marc De Mesel

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #115 on: March 12, 2016, 03:16:41 pm »


The cost per transaction is going up at rapid speed. I'm paying $0.20 per transaction lately!

OMG, you might have to sell your Lambo if it goes on like this!   :D

I think if things go on like this with Bitcoin I'll BUY me another NXT lambo pretty soon.  ;)



You could do it offchain with a new exchange and avoid transaction costs but then you have counterparty risk.

Fiat, well, prepare to fill in many forms if you want to launch an asset!!! You may also need a huge pile of money to get it done.

Trading volumes have dried up on the AE. An exchange is useless if it doesn't have any volume, decentralised or not.


I don't see you refuting my arguments about counterparty risk being tons the moment you want btc as the currency.

Instead you come with another argument why nxt asset exchange is no good.

Trading volume being low sucks but is part of a bear market, no?


The assets have been in a big boom, and now they go through a big bust.

You can blame it on the exchange, but I see new assets continue to pop up and be traded.

Here an overview of the past 7 days how much trading volume each asset had:

http://jnxt.org/jayex/?12071612744977229797

mr001

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Re: [PRE-ANN] Time to go further. New Chain is coming.
« Reply #116 on: March 21, 2016, 07:59:32 pm »

I sense this crypto will be more centralized and by extension more KYC/AML legal framework and censorship compliant than NXT because of its connections with banking institutions. NXT is a grey area to operate for companies because too decentralized. This is a relevant thread https://bitcointalk.org/index.php?topic=1336082.0
true that. I'm not much of a crypto anarchist. I'm a decentralization guy. It's different. Blockchains should become objective reality the banks have to deal with, BUT NOT CONTROL THEM. Fuck permissioned blockchains. Banks has to work with existing miners/stakers supported chains.
Do you have already contacts with the banks? Are they interested in such projects?
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