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What feature to add after Monetary System
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Author Topic: What feature to add after Monetary System  (Read 12219 times)

jl777

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Re: What feature to add after Monetary System
« Reply #40 on: May 29, 2014, 03:53:20 pm »

NXT will skyrocket after this System.
NXT has more developers than any other crypto, except for BTC

NXT has delivered all the features it has promised so far, albeit with the standard delays due to software always taking longer than expected.

So, if you are intelligent investor, you need to imagine the price of NXT after Phasing, Privacy, etc.
Now discount it by the chance that it wont happen
This is the expected price for NXT

NXT timeframe is in months and years, not days or hours like the pump and dumps. Certainly other coins can provide a higher ROI over the short term, but NXT is the place where the money comes back to as it is accelerating in its capabilities at a rate that none of the gen1 coins can.

James
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jl777

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Re: What feature to add after Monetary System
« Reply #41 on: May 29, 2014, 03:57:04 pm »

Nowadays anonymity/privacy in crypto currencies should be a fundamental functionality. it is like the breaks in a car. The car can be the most beautiful one, it can have the most and best features, it can be the cheapest and fastest of all cars, but if the people know that it has no working breaks, nobody will buy or use it. It's the same with Nxt. Privacy/Anonymity functionality has to be implemented as a basic functionality. The earlier the better. All other features should be implemented later.

My opinion on privacy:

In the next future, cryptos will be regulated, and we will have: anonimous and non-anonimous cryptos.

I think non-anonimous cryptos will be banned. They wont be destroyed because it is impossible, but I think full-anonimous cryptos will have problems.
NXT will implement privacy levels
User chooses what privacy level they want
So, I think it will be hard for regulators to categorize NXT into a singled anon category
especially if highest privacy levels requires third party add on

NXT is like the Internet itself. At the core its just bits going back and forth. All meaning is added by the protocols running on it. By encapsulating any controversial protocol outside the core, then NXT itself will be immune from anon regs.

The highest privacy levels for NXT will become available and not cost anything, so there is no profit making entity to become a target. The code that implements the highest privacy levels will be available via magnet links so it can never be erased or shutdown.

All this is inevitable, just a matter of time

James

I dont see any problem with NXT. But "alts" as DARKCOIN that are sold because of its anonimity, will have problems. We will see.

I would love to see privacy levels implement in NXT. I think it is a really intelligent idea. Well done.
Thanks
politically it will be hard for govts to ban privacy, after all toilet stalls are not transparent!
As long as the default is "no privacy everyone can see everything you are doing", then what can the regulators do?
It will be the users themselves that will be selecting "personal privacy" or "business privacy" or "total privacy"
and "total privacy" would require a third party download

So the regulators have to make it illegal for people to select any privacy level other than totally transparent. Even in the nanny states, I doubt that will be accepted.
"total privacy" package will only exist in the cloud via magnet links
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jl777

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Re: What feature to add after Monetary System
« Reply #42 on: May 29, 2014, 04:03:10 pm »

NXT will implement privacy levels
User chooses what privacy level they want
I like that approach!

All this is inevitable, just a matter of time

how long?
CfB says he starts no sooner than July on the "personal privacy" level (aka mixing) so by the time it is done, probably fall. I am also fully booked for summer, so fall even winter for "total privacy", unless CfB can make the zerocash port sooner. I think we will have variants of privacy tech that we can mix and match to create the privacy levels

However, this is really a quite difficult problem so dont expect it right away or to be fully complete at first. A true privacy solution isnt just one magic module, it will be a combined system of tech, GUI, and participating users. I would imagine the first release would have the "personal privacy", but the higher levels of privacy would be greyed out in the GUI. We create a framework for adding more and more privacy, then as time goes on more and more privacy tech gets added to NXT, with more and more possible privacy levels. This is like an antivirus program. What works today, wont work tomorrow because the virus writers design new viruses to get around the existing antivirus. Therefore, it will always be evolving and never be "done"

Imagine you want to get lost in a crowd, but there is no crowd. So even if you have the tech to get lost in a crowd,it will require thousands of participating users. This will take time to develop.

This is why I think it a bit funny that a coin mentions anon and it gets to top 10 marketcap, but not only is the tech unproven and closed source, but there is no user base and of course how big and dedicated can a greed based community that formed in a couple weeks be?

Community is the key to a cryptos success. I mention DOGE. It succeeds on strength of community alone. Now imagine a crypto with full spectrum of tech and community. You have imagined NXT

James
« Last Edit: May 29, 2014, 04:06:04 pm by jl777 »
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sherpico77

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Re: What feature to add after Monetary System
« Reply #43 on: May 29, 2014, 04:24:32 pm »


+1 vote for mixing. Being able to choose more privacy in crypto world is very important.
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msin

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Re: What feature to add after Monetary System
« Reply #44 on: May 29, 2014, 04:34:16 pm »

What feature to add after Monetary System?

Phasing - part of Account Control, can be used like Multisig, includes 2-phase payments.
Mixing - mixing based on CoinShuffle approach.
Service Providing - will allow to provide off-chain services for subscription payments (or for free).

I would say the features you listed in that exact order.
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innovator256

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Re: What feature to add after Monetary System
« Reply #45 on: May 29, 2014, 05:13:31 pm »

What feature to add after Monetary System?

Phasing - part of Account Control, can be used like Multisig, includes 2-phase payments.
Mixing - mixing based on CoinShuffle approach.
Service Providing - will allow to provide off-chain services for subscription payments (or for free).

I would say the features you listed in that exact order.

+ my same thinking
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martismartis

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Re: What feature to add after Monetary System
« Reply #46 on: May 29, 2014, 05:21:38 pm »

What feature to add after Monetary System?

Phasing - part of Account Control, can be used like Multisig, includes 2-phase payments.
Mixing - mixing based on CoinShuffle approach.
Service Providing - will allow to provide off-chain services for subscription payments (or for free).

I would say the features you listed in that exact order.

+ my same thinking

Yes, I also think CFB in unconscious already answered the order of features :)
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Daedelus

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Re: What feature to add after Monetary System
« Reply #47 on: May 29, 2014, 07:05:45 pm »

What feature to add after Monetary System?

Phasing - part of Account Control, can be used like Multisig, includes 2-phase payments.
Mixing - mixing based on CoinShuffle approach.
Service Providing - will allow to provide off-chain services for subscription payments (or for free).

I would say the features you listed in that exact order.

+ my same thinking

Yes, I also think CFB in unconscious already answered the order of features :)

I picked phasing. Damn ur mind games CfB! I am just a mouse in a maze... :D
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rock3tm4n

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Re: What feature to add after Monetary System
« Reply #48 on: May 29, 2014, 07:07:14 pm »

In the office I am often faced with sentences like --- "Bitcoin? That is that anonymous currency which is used to buy drugs and other illegal stuff!"
I explain: --- "No, each transaction is tracked in the blockchain and each conversion into fiat is a potential way for a person with illegal activities to be caught.".

I think privacy is not needed at this moment, it might also be positive NOT to have that level of privacy now, maybe at a later stage.
I vote for service provider, this allows for fancy other services which might be really interesting.

btw.: to the developers: Great job so far!!!
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cc001

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Re: What feature to add after Monetary System
« Reply #49 on: May 29, 2014, 07:38:18 pm »

NXT will implement privacy levels
User chooses what privacy level they want
I like that approach!

All this is inevitable, just a matter of time

how long?
CfB says he starts no sooner than July on the "personal privacy" level (aka mixing) so by the time it is done, probably fall. I am also fully booked for summer, so fall even winter for "total privacy", unless CfB can make the zerocash port sooner. I think we will have variants of privacy tech that we can mix and match to create the privacy levels

However, this is really a quite difficult problem so dont expect it right away or to be fully complete at first. A true privacy solution isnt just one magic module, it will be a combined system of tech, GUI, and participating users. I would imagine the first release would have the "personal privacy", but the higher levels of privacy would be greyed out in the GUI. We create a framework for adding more and more privacy, then as time goes on more and more privacy tech gets added to NXT, with more and more possible privacy levels. This is like an antivirus program. What works today, wont work tomorrow because the virus writers design new viruses to get around the existing antivirus. Therefore, it will always be evolving and never be "done"

Imagine you want to get lost in a crowd, but there is no crowd. So even if you have the tech to get lost in a crowd,it will require thousands of participating users. This will take time to develop.

This is why I think it a bit funny that a coin mentions anon and it gets to top 10 marketcap, but not only is the tech unproven and closed source, but there is no user base and of course how big and dedicated can a greed based community that formed in a couple weeks be?

Community is the key to a cryptos success. I mention DOGE. It succeeds on strength of community alone. Now imagine a crypto with full spectrum of tech and community. You have imagined NXT

James

sounds reasonable, thx
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msin

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Re: What feature to add after Monetary System
« Reply #50 on: May 29, 2014, 08:27:56 pm »

In the office I am often faced with sentences like --- "Bitcoin? That is that anonymous currency which is used to buy drugs and other illegal stuff!"

I hear the same thing in my office, but my reply is "What's wrong with drugs?"
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Pilot

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Re: What feature to add after Monetary System
« Reply #51 on: May 29, 2014, 08:28:45 pm »

In the office I am often faced with sentences like --- "Bitcoin? That is that anonymous currency which is used to buy drugs and other illegal stuff!"

I hear the same thing in my office, but my reply is "What's wrong with drugs?"

Right, cause people don't buy drugs and illegal stuff with cash!
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rudeboi

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Re: What feature to add after Monetary System
« Reply #52 on: May 29, 2014, 09:14:37 pm »

It was pretty hard to pick when I'm not sure long each feature would take to code, and also if it is a potential duplicate of other projects.

I love the idea of Account Control, but am more interested in locking which cannot be done until AT is implemented. I'm not sure what use phasing would have for most users. Maybe if someone could explain the benefits to me?

Privacy is obviously the big thing in crypto at the moment, so due to demand and the prospective positive impact to our volume I have voted this. Isn't Jl777 working on NxtMixer? Or Zerocash? If not then this should be a priority.

I don't know enough about the 3rd option.
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Nxter

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Re: What feature to add after Monetary System
« Reply #53 on: May 29, 2014, 09:55:07 pm »


I love the idea of Account Control, but am more interested in locking which cannot be done until AT is implemented. I'm not sure what use phasing would have for most users. Maybe if someone could explain the benefits to me?

I don't know enough about the 3rd option.

For most users (i believe) this could be used to set double security to the Nxt accounts.  So this will be really good for paranoid users. Being that,  you will be able to set up double password to make a transfer of your Nxt..   :D

I do not fully understand the 3rd option either...
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rudeboi

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Re: What feature to add after Monetary System
« Reply #54 on: May 29, 2014, 10:06:24 pm »


I love the idea of Account Control, but am more interested in locking which cannot be done until AT is implemented. I'm not sure what use phasing would have for most users. Maybe if someone could explain the benefits to me?

I don't know enough about the 3rd option.

For most users (i believe) this could be used to set double security to the Nxt accounts.  So this will be really good for paranoid users. Being that,  you will be able to set up double password to make a transfer of your Nxt..   :D

I do not fully understand the 3rd option either...

Going by what I have read about phasing it has nothing to do with double passwording your account, that is another part of Account Control which cannot be done for a while. It's to do with sending a transaction which goes on the blockchain but the payment doesn't get a the recipient until another criteria is met (such as a secondary account needing to authorizes it). Am I on the right tracks CfB?
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Nxter

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Re: What feature to add after Monetary System
« Reply #55 on: May 29, 2014, 10:17:14 pm »


I love the idea of Account Control, but am more interested in locking which cannot be done until AT is implemented. I'm not sure what use phasing would have for most users. Maybe if someone could explain the benefits to me?

I don't know enough about the 3rd option.

For most users (i believe) this could be used to set double security to the Nxt accounts.  So this will be really good for paranoid users. Being that,  you will be able to set up double password to make a transfer of your Nxt..   :D

I do not fully understand the 3rd option either...

Going by what I have read about phasing it has nothing to do with double passwording your account, that is another part of Account Control which cannot be done for a while. It's to do with sending a transaction which goes on the blockchain but the payment doesn't get a the recipient until another criteria is met (such as a secondary account needing to authorizes it). Am I on the right tracks CfB?

If the secondary account is owned by yourself then you have double password...  ;)
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Come-from-Beyond

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Re: What feature to add after Monetary System
« Reply #56 on: May 29, 2014, 10:24:39 pm »

Am I on the right tracks CfB?

Yes.
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rudeboi

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Re: What feature to add after Monetary System
« Reply #57 on: May 29, 2014, 10:31:45 pm »

@Nxter
But the first (hijacked) account would have to set the outgoing specific payment to be phased for this to happen? (Which they wouldn't)
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mczarnek

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Re: What feature to add after Monetary System
« Reply #58 on: May 29, 2014, 10:57:39 pm »

One more small thing that needs to be done, transfer of aliases between accounts.  I realize how ridiculous it is, but Quora is claiming they are better because they allow that.
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nCtrl

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Re: What feature to add after Monetary System
« Reply #59 on: May 29, 2014, 11:08:45 pm »

It is in the works already.
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