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.
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.