Nxt Forum

Please login or register.

Login with username, password and session length
Advanced search  

News:

Latest Nxt Client 1.11.5 - NEW RELEASE: Ardor 2.0.3e TestNet IS LAUNCHED!

Pages: [1] 2 3 ... 5  All

Author Topic: NXTcoinsco should be called Tradebots asset! - make money making tradebots  (Read 11907 times)

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

NXTcoinsco is actuall Tradebots asset.

I had an idea to simplify things a bit. With the privacyServers well on their way, I believe that there is a faster way to get revenues for NXTcoinsco asset holders.

In my mind NXTcoinsco was about automated trading and SVMs and at the time it seemed that SVMcoin was needed to create the computational infrastructure. However, with the privacyServer hubs, I believe we can bypass this stage and go directly to revenue creation. So, NXTcoinsco might be the wrong name but I will still get nodecoins out as dividends, but really the revenue potential from tradebots within InstantDEX is quite nice and I like to prioritize based on importance. If any NXTcoinsco asset holders objects to this change, please let me know ASAP.

So, the outline for Tradebot asset (aka NXTcoinsco) is that it will allow tradebot creators to make and test tradebots and then people can subscribe to their tradebot and pay a percentage of profits that they make. So this creates the ability for people who are good at making tradebots to make an income and also for people who are not able to make them to still take advantage of them.

All of this can create enormous InstantDEX volumes and I negotiated a deal with the guy that runs InstantDEX for revenue sharing to Tradebot (NXTcoinsco) asset holders. There was that unallocated 30% of the InstantDEX operating budget and now it has a home. The profit sharing of the tradebot creators is a separate thing. They would set their own price and mechanisms will be put in place for the tracking and disbursing of profits, but this is separate from the InstantDEX revenue sharing.

Hope its not too complicated. Basically NXTcoinsco (Tradebot asset) will get 30% of InstantDEX operating budget (or 15% of fees) and since there is very low overheads, most of this will become dividends

OK, so I am creating a tradebot language and it will be in the form of a JSON string. This allows for flexibility to change versions, add commands, etc. More details as I get version 0 implemented today.

James







original OP:
There are a total of 1 million NXTcoinsco assets. NXTcoinsco will be creating coins that run on top of NXT, starting with nodecoin. After that it will make SVMcoin and also create a NXTcoins development kit to enable others to make coins easily. For internally created coins, NXTcoinsco asset holders will receive 10% of the coins. The percentage for externally developed coins will vary.

For those who dont know the history of nodecoin, it was quite controversial. Some even predicted it would destroy NXT! Now that leased forging is here, there is probably less direct demand for nodecoin. however it is always nice to get more than .00023 of anything, so I expect people will happily earn their nodecoins for running NXTservices. nodecoin will reward people who help the NXT network and it wont matter how much NXT you have. About 100,000 per day will be "mined" and I hope that people will use it like dogecoin is used. Its worth something, but not a super large amount. It is also not something that is easy to get a lot of since everybody will get pretty much the same amount. If you give someone your nodecoin for that day, it will mean a lot as you cant give it to anybody else. So give the nodecoin that you earned to the person that most helped you that day.

I will put all my coin related projects into NXTcoinco, including any investments that I see as appropriate

I am not quite ready yet to divulge much details about the secret coin, which you now know the name of. SVMcoin

I can tell you that it will be different from the other crypto coins, not just because it is build on top of NXT, but because it will utilize the miners computing power to do useful work for businesses. Businesses will bid for time from the SVMcoin computing cloud and these revenues will flow through to the SVMcoin owners. The more computing power that is available, the more the SVMcoin owners will earn. So not only do the miners get SVMcoin, the SVMcoin they get will be getting dividends.

Thats the general idea of SVMcoin. The details about the "useful work for businesses" is what is really powerful about SVMcoin. More on that after multigateway is done.

For all the coins that I do, 10% of the mined coins will be distributed to the NXTcoinco asset holders.

As part of the implementation of SVMcoin, I will create a NXTcoinsco development kit that will allow others to much more easily create their own coins. Depending on whether a customization fee is paid or not the percentage of third party coins will vary.

James
« Last Edit: July 27, 2014, 08:10:12 pm by jl777 »
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

This is not really private information as it is visible in the blockchain.

NXTcoinsco has acquired 4.25% of sianotes (from the available 15%)

In the event that sianotes appreciate dramatically, this will impact the total value of NXTcoinsco so I thought I should mention this. I think it is what is called "material information". Since we are on crypto time, instead of waiting for quarterly report, I want to update NXTcoinco asset holders within days. Also, once I post a detail, I wont keep repeating it. It always annoyed me that the annual reports were usually cut and paste quarterly reports, but maybe with small changes that you wont notice.

I have reached an agreement with the siacoin team! The have agreed to create an API customized for NXTservices. This will allow me to directly integrate siacoin features into NXT. Please follow the siacoin.com site for details

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2375
    • View Profile
  • Karma: +211/-18

Hi James,

is there already some deadline that you could set for the "development kit to enable others to make coins easily"?

Do you think its a great tool for using as monetary system within one website?
This way I could add a secure and cheap system where user can deal with the NXT descendant without even being aware of using this.

I would not want it to be a speculative object. Since I would like to use it as inner monetary system of my website, could I be the only host creating addresses and keep the price stable and having a secure way to allow transaction between users?

If I understood everything correct this would be a usage of NxtCoinsco, right? What happens if I use it as monetary system of my website and every NxtCoinsco holder gets 10% of my coin which is just for my own usage?

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

Hi James,

is there already some deadline that you could set for the "development kit to enable others to make coins easily"?

Do you think its a great tool for using as monetary system within one website?
This way I could add a secure and cheap system where user can deal with the NXT descendant without even being aware of using this.

I would not want it to be a speculative object. Since I would like to use it as inner monetary system of my website, could I be the only host creating addresses and keep the price stable and having a secure way to allow transaction between users?

If I understood everything correct this would be a usage of NxtCoinsco, right? What happens if I use it as monetary system of my website and every NxtCoinsco holder gets 10% of my coin which is just for my own usage?
if you just wanted to do something specific to your website, then you can just issue an asset
I expect NXTcoinsco to be used for coins that encapsulate a business model. Kind of hard to explain without revealing details of SVMcoin a bit too early

Maybe an analogy, NXTcoinsco coins will create coins that change how people view coins, eg. a way to directly generate money.

So, it is like using futuristic maglev transportation system, when you can just use normal public transport. I am setting the 10% price due to the significant infrastructure that will enable the futuristic stuff.

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2375
    • View Profile
  • Karma: +211/-18

I had that idea to prevent paying 1 NXT as fee for every transaction. (that would make the system collapse. 0.01 NXT or less payments need to be possible)

Therefore I thought either using descendant of nxt or a copy to make up an inner monetary system, where I can just use 100,000 as 1 NXT, so transaction fees within my website could be reduced and NXT transaction fees will just be payed with deposits or withdrawls.

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

I had that idea to prevent paying 1 NXT as fee for every transaction. (that would make the system collapse. 0.01 NXT or less payments need to be possible)

Therefore I thought either using descendant of nxt or a copy to make up an inner monetary system, where I can just use 100,000 as 1 NXT, so transaction fees within my website could be reduced and NXT transaction fees will just be payed with deposits or withdrawls.
hopefully tx fees will reduce to 0.1 NXT to allow more usage like yours
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

allwelder

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1867
  • NxtChina.org
    • View Profile
    • NxtChina.org
  • Karma: +196/-13

SVMcoin,wow,another coin.
NxtChina |Weibo |Twitter Donation welcomed:NXT-APL9-66GU-K8LY-B3JJJ

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

With the expansion of staffing to a dozen people, we now have resources to make progress on many fronts in parallel.

bannercoin is now an active project with mrv777 handling website HTML

By inserting the bannercoin HTML to their webpages, webmasters will accumulate bannercoins for every minute they have a visitor on their site. If a market for bannercoin emerges, it would be possible for websites to remove their annoying banners.

I plan on integrating the nodecoin poolserver with the bannercoin poolserver

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

sherpico77

  • Newbie
  • *
  • Offline Offline
  • Posts: 10
    • View Profile
  • Karma: +0/-0

This is not really private information as it is visible in the blockchain.

NXTcoinsco has acquired 4.25% of sianotes (from the available 15%)

In the event that sianotes appreciate dramatically, this will impact the total value of NXTcoinsco so I thought I should mention this. I think it is what is called "material information". Since we are on crypto time, instead of waiting for quarterly report, I want to update NXTcoinco asset holders within days. Also, once I post a detail, I wont keep repeating it. It always annoyed me that the annual reports were usually cut and paste quarterly reports, but maybe with small changes that you wont notice.

I have reached an agreement with the siacoin team! The have agreed to create an API customized for NXTservices. This will allow me to directly integrate siacoin features into NXT. Please follow the siacoin.com site for details

James

Great notice. Siacoin is very interesting.

sherpico77

  • Newbie
  • *
  • Offline Offline
  • Posts: 10
    • View Profile
  • Karma: +0/-0

With the expansion of staffing to a dozen people, we now have resources to make progress on many fronts in parallel.

bannercoin is now an active project with mrv777 handling website HTML

By inserting the bannercoin HTML to their webpages, webmasters will accumulate bannercoins for every minute they have a visitor on their site. If a market for bannercoin emerges, it would be possible for websites to remove their annoying banners.

I plan on integrating the nodecoin poolserver with the bannercoin poolserver

James

Is there any link with more info about bannercoin?
Thanks.

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

With the expansion of staffing to a dozen people, we now have resources to make progress on many fronts in parallel.

bannercoin is now an active project with mrv777 handling website HTML

By inserting the bannercoin HTML to their webpages, webmasters will accumulate bannercoins for every minute they have a visitor on their site. If a market for bannercoin emerges, it would be possible for websites to remove their annoying banners.

I plan on integrating the nodecoin poolserver with the bannercoin poolserver

James

Is there any link with more info about bannercoin?
Thanks.
not yet
it is based on Cfb's lakshimi idea,but never was much info on that
you are privy to very early dev chatter :)
i would imagine it would be a while before there is a lot of info or fancy website for bannercoin
then again there are 20+ people in TEAM now, so maybe the timeframe will be faster than I expect
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

sherpico77

  • Newbie
  • *
  • Offline Offline
  • Posts: 10
    • View Profile
  • Karma: +0/-0


not yet
it is based on Cfb's lakshimi idea,but never was much info on that
you are privy to very early dev chatter :)
i would imagine it would be a while before there is a lot of info or fancy website for bannercoin
then again there are 20+ people in TEAM now, so maybe the timeframe will be faster than I expect

Ok, I remember lakshimi...
I will follow the thread, it is very interesting.
Thanks!

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123


not yet
it is based on Cfb's lakshimi idea,but never was much info on that
you are privy to very early dev chatter :)
i would imagine it would be a while before there is a lot of info or fancy website for bannercoin
then again there are 20+ people in TEAM now, so maybe the timeframe will be faster than I expect

Ok, I remember lakshimi...
I will follow the thread, it is very interesting.
Thanks!
Yes, at first the bannercoin will have low value, but if the website visitors would support it by putting in bids for bannercoin, then that would allow the websites they visit to eliminate the annoying animated banners

just a matter of how much people value a webpage without any annoying ads. Now that we have two active devs on it, I am hopeful it will be ready a lot sooner than originally planned

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2375
    • View Profile
  • Karma: +211/-18

mrv777 is working on bannercoin, right?

Would it be possible to have some more insights?
I am interested in this project, maybe I can help testing or other things.

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

mrv777 is working on bannercoin, right?

Would it be possible to have some more insights?
I am interested in this project, maybe I can help testing or other things.
yes

need some serverside code to act as the poolserver
"banners" can be replaced with HTML that is invisible on webpage and websites are credited for each visitor time unit (minute/hour/..)
poolserver collates and awards bannercoins

almost identical to nodecoin, except nodecoin is rewarding people who are good NXT nodes instead of website visitors

James

P.S. WE can always use testers. people that find bugs might even find some nice rewards
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

allwelder

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 1867
  • NxtChina.org
    • View Profile
    • NxtChina.org
  • Karma: +196/-13

I added a icon for TEAM on Nxtchina desktop.
NxtChina |Weibo |Twitter Donation welcomed:NXT-APL9-66GU-K8LY-B3JJJ

Tosch110

  • Ex-Staff Member
  • Hero Member
  • *****
  • Offline Offline
  • Posts: 2375
    • View Profile
  • Karma: +211/-18

I added a icon for TEAM on Nxtchina desktop.

:D I do not understand chinese but this is an interesting website style!

Djinou94

  • Full Member
  • ***
  • Offline Offline
  • Posts: 193
    • View Profile
  • Karma: +3/-5

Can not wait for that Mr James
Is an approximate launch date?

jl777

  • Hero Member
  • *****
  • Offline Offline
  • Posts: 6176
    • View Profile
  • Karma: +718/-123

Now that InstantDEX is entering the home stretch, NXTcoinsco and SVMcoin details can be understood.

I want to make it so people can say: "buy 1 BTC worth of NXT at an average price of .000075, but no higher than .000076"
This sounds not so impressive, but I also want to be able to qualify such orders with: "only buy when the slope is positive", or basically any state represented by the colored lines.

This way, when InstantDEX is connecting two people, the tradebot can determine if it is able to trade at that moment.

Now knowing exactly when to trade or not is very difficult thing, but there are people that specialize in making these things. I am creating a framework for people to create very advanced tradebots using SVM tech. Other people can then subscribe to these custom created tradebots. So in a few months it will be possible for people to use highly sophisticated signals. I will make it so that a fee is paid only if it a profitable trade, this way people dont waste money on bots that dont work and the people that do make bots that work will get good income

James
There are over 1000 people in SuperNET slack! http://slackinvite.supernet.org/ automatically sends you an invite

I am just a simple C programmer

farl4bit

  • Global Moderator
  • Hero Member
  • *****
  • Offline Offline
  • Posts: 3400
  • Go Nxt!
    • View Profile
    • Blockchain Startpagina
  • Karma: +207/-45

Sounds amazing James.  :)
Pages: [1] 2 3 ... 5  All