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Author Topic: Nxt Asset Exchange, What are being traded?  (Read 4989 times)

lucky331

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Nxt Asset Exchange, What are being traded?
« on: June 06, 2014, 03:27:06 am »

Hey guys,

lucky331 here.  I'm new (obviously lol).

Anyway, I would just like to ask what are being traded in Nxt asset exchange.  Are BTC/USD, BTC/LTC being traded?  If so, are there charts ora site that shows the price and volume for these?

Thanks.

You guys have a nice, active community here.  That's good to see.  :)

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Johal8888

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Re: Nxt Asset Exchange, What are being traded?
« Reply #1 on: June 06, 2014, 03:34:17 am »

in order for NXT to be adopted I think we are going to need some VC's to take interest...unfortunately no one will pay attention to us. im not sure if BTC or LTC is going to be traded on the NXT exchange...I think that's what Coinbase is for
« Last Edit: June 06, 2014, 03:42:57 am by Johal8888 »
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Fern

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Re: Nxt Asset Exchange, What are being traded?
« Reply #2 on: June 06, 2014, 04:24:52 am »

Check it all out here..

http://www.nxtreporting.com/
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lucky331

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Re: Nxt Asset Exchange, What are being traded?
« Reply #3 on: June 06, 2014, 04:39:12 am »

fern,

thanks!  nxt deals more with 'stocks' while ripple deals more with 'currencies'.  not sure if this is the correct comparison. 

are nxt assets kinda like IOU's?  do we need some sort of 'gateways' to cash out?
« Last Edit: June 06, 2014, 04:41:04 am by lucky331 »
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Fern

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Re: Nxt Asset Exchange, What are being traded?
« Reply #4 on: June 06, 2014, 04:48:58 am »

I understand that NXT does both and there will be services where you can trade into any other currency you wish.

Perhaps someone with more knowledge and understanding of features, both current and planned, can clarify this.
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2Kool4Skewl

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Re: Nxt Asset Exchange, What are being traded?
« Reply #5 on: June 06, 2014, 04:58:28 am »

Hi Lucky331!

Anyone can act as a gateway and issue IOUs for any type of asset on the NXT network.  I would recommend though that they need to be careful of the legal aspect.

Welcome to NXT!
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bitcoinpaul

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Re: Nxt Asset Exchange, What are being traded?
« Reply #6 on: June 06, 2014, 05:59:35 am »

in order for NXT to be adopted I think we are going to need some VC's to take interest...unfortunately no one will pay attention to us. im not sure if BTC or LTC is going to be traded on the NXT exchange...I think that's what Coinbase is for

Why so negative?
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lucky331

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Re: Nxt Asset Exchange, What are being traded?
« Reply #7 on: June 06, 2014, 07:38:06 am »

Hi Lucky331!

Anyone can act as a gateway and issue IOUs for any type of asset on the NXT network.  I would recommend though that they need to be careful of the legal aspect.

Welcome to NXT!

2Kool4Skewl!

ok. so it's a network based on trust. cool cool.  :)
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Damelon

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Re: Nxt Asset Exchange, What are being traded?
« Reply #8 on: June 06, 2014, 09:11:26 am »

Hi Lucky331!

Anyone can act as a gateway and issue IOUs for any type of asset on the NXT network.  I would recommend though that they need to be careful of the legal aspect.

Welcome to NXT!

2Kool4Skewl!

ok. so it's a network based on trust. cool cool.  :)

For the moment, it is.

However, there are people working on ways to also make the AE completely trustless.
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lucky331

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Re: Nxt Asset Exchange, What are being traded?
« Reply #9 on: June 06, 2014, 10:01:30 am »

Hi Lucky331!

Anyone can act as a gateway and issue IOUs for any type of asset on the NXT network.  I would recommend though that they need to be careful of the legal aspect.

Welcome to NXT!

2Kool4Skewl!

ok. so it's a network based on trust. cool cool.  :)

For the moment, it is.

However, there are people working on ways to also make the AE completely trustless.

interesting.  i wonder how they can get this implemented with currencies traded in Nxt like USD or stocks of companies without a gateway getting involved.
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theironman

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Re: Nxt Asset Exchange, What are being traded?
« Reply #10 on: June 06, 2014, 07:43:31 pm »

I think there is a nice and steady grow on new assets which is good and healthy. AE is amazing part of the ecosystem.

At least, I am super glad that AE has the NXTdrop (world´s first decentralized oil painting).  :D
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celticwarrior72

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Re: Nxt Asset Exchange, What are being traded?
« Reply #11 on: June 07, 2014, 09:19:42 pm »

Hey lucky331 - good to see another Rippler here too!

I wanna figure out Nxt too.

- CW
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jl777

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Re: Nxt Asset Exchange, What are being traded?
« Reply #12 on: June 07, 2014, 11:40:07 pm »

Hey lucky331 - good to see another Rippler here too!

I wanna figure out Nxt too.

- CW
Hey lucky and celtic!
Nice you guys come to nxt, things are much different here than in ripple, shame what happened there

James
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lucky331

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Re: Nxt Asset Exchange, What are being traded?
« Reply #13 on: June 08, 2014, 01:31:28 am »

Hey lucky331 - good to see another Rippler here too!

I wanna figure out Nxt too.

- CW

hey celtic!  :)

look like this is how it should be tbh.  the project seems community-centric. 
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lucky331

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Re: Nxt Asset Exchange, What are being traded?
« Reply #14 on: June 08, 2014, 01:33:16 am »

Hey lucky331 - good to see another Rippler here too!

I wanna figure out Nxt too.

- CW
Hey lucky and celtic!
Nice you guys come to nxt, things are much different here than in ripple, shame what happened there

James

james,

what are the differences between nxt's asset based system and ripple's iou system?

aren't they more likely the same?  both need gateways to back up these assets/IOU's.
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2Kool4Skewl

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Re: Nxt Asset Exchange, What are being traded?
« Reply #15 on: June 08, 2014, 02:10:41 am »

For fiat IOUs or physical assets you still have to trust the gateway.  James is working on decentralized multi-gateways which are automated trustless cryptocurrency gateways.  These will allow you to issue and redeem BTC and other cryptocurrencies without having to trust a centralized issuer.  The multi-gateways (MGWs) are fully automated and decentralized.
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jl777

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Re: Nxt Asset Exchange, What are being traded?
« Reply #16 on: June 08, 2014, 03:19:36 am »

Hey lucky331 - good to see another Rippler here too!

I wanna figure out Nxt too.

- CW
Hey lucky and celtic!
Nice you guys come to nxt, things are much different here than in ripple, shame what happened there

James

james,

what are the differences between nxt's asset based system and ripple's iou system?

aren't they more likely the same?  both need gateways to back up these assets/IOU's.
I have found writing programs for nxt to be a lot smoother than for ripple
I cant even get the latest rippled to compile and the ledger bloat was pretty massive, plus they still didnt fix the price update. This is a big problem when trading

So while theoretically, ripple api would allow similar solutions to be created, the reality was that i had a hard time getting a simple automated market maker to be stable with ripple
So, in addition to needed to get users to set trustlines, you have this very real implementation issue and no good way of getting any access to the core ripple devs

With nxt i have been able to develop a lot more ambitious set of solutions. One of them is a multisig gateway where every user gets a customized multisig acct and any node can monitor in realtime all the blockchains and track every deposit, asset xfer and withdrawal. So while there is still a gateway, multigateway will have three servers that need to come to complete consensus on each withdrawal and everyone can get full visivility into each step via their local copies of bitcoinwallets and nxt core

There are no restrictions on nxt assets, so creativity is the limit. With ripple, it is primariily currency so while you can shoehorn something else into the three letters, it really doesnt fit well with a lot of assers

If you read all the asset descriptions, you will understand

Anyway, the only ripple devs are working nine to five and that does not have thepassion needed to complete a project of that size in a timely manner. Also ripple is closed, there is no way i would have been allowed to become a key dev for ripple

With nxt, there was no way to stop me :)

James
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2Kool4Skewl

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Re: Nxt Asset Exchange, What are being traded?
« Reply #17 on: June 08, 2014, 03:48:39 am »

With nxt, there was no way to stop me :)

GO JAMES, GO! :D
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An economic system is a manifestation of an ideology.  What was lost, we shall reclaim.
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Re: Nxt Asset Exchange, What are being traded?
« Reply #18 on: June 08, 2014, 05:36:17 am »

With nxt, there was no way to stop me :)

James

jl777,

I've already built a comprehensive rating service for Ripple IOUs and gateways.  I was thinking about extending it to NXT assets and issuers.  Do you (and the broader NXT community) think there is a need for such a service for NXT assets?

- CW
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CryptoScalper

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Re: Nxt Asset Exchange, What are being traded?
« Reply #19 on: June 08, 2014, 06:49:40 am »

With nxt, there was no way to stop me :)

James

So true.
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