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1
Alternate Cryptocurrencies / Waves?
« on: April 04, 2016, 04:02:00 pm »
Hello,

Anyone heard of this Waves IPO?

It is seriously annoying to see something that offers no real innovation over NXT and is pretty much just a sugar coated Nxt clone get so much hype and attention. Whats the point of Waves when we already have a platform that is doing the same damn thing???


2
Pub crawl / Not so Funny NXT 2.0 Quote
« on: February 09, 2016, 05:55:32 pm »
"Give a man a blockchain, you get bitcoin. Teach a man how to blockchain, you get nxt"  ;D ::)

3
Nxt General Discussion / Nxt Technology Tree
« on: January 31, 2016, 01:07:41 pm »
Anyone recall this website?

I see it has not been updated to current feature set.

http://www.nxttechnologytree.com/

Also is the roadmap pretty much the same as per all the proposed features mentioned there?


4
Hi Nxters,

I found this old article that claimed that NXT and similar POS systems won't last in the long run.

http://cointelegraph.com/news/the-inevitable-failure-of-proof-of-stake-blockchains-and-why-a-new-algorithm-is-needed

TO quote -

"If the rich are more likely to get a block, they are more likely to collect the reward for the block. Every block they get, the richer they become. The richer they become, the more likely they are to collect the reward for a block.

This keeps going on for the life to the cryptocurrency and if the cryptocurrency lives long enough, it will see 51% stake holders, or 91% stake holders, or even 99.91% stake holders. It is only a matter of time."


Has anyone dived deeper into this analysis themselves?
What would a future NXT economy be like? Will the rich keep getting richer or are there other economic variables / dynamics that will prevent the centralization of POS tokens?

To draw a similar analogy, the interest we collect from our savings deposits in banks also makes the rich get richer. So in a sense, the flaws of POS pointed out by the author of this article also suggests that an ideal money according to him would have no interest on savings/fixed deposits. So then the rich stay rich and the poor stay poor  ::).....  makes no sense.

The claims that the rich get richer in POS systems can be used in bitcoin too - ie; bitcoin whales (The "rich") can buy more mining equipment and hence can collect more bitcoins  than the poor. Hence in POW also the rich get richer.

This rich getting richer is a stupid argument when we consider the basics of economics. If a person holds a lot of value in any economic system of value exchange, that itself puts him in an easier position to create more value out of what he has than a poorer person. If such were not true, then there would be no incentive for a poorer person to obtain more capital and a rich person to value his.

In NXT a rich whale has the choice of either lending his fortune to someone who needs capital and earn interest on it back or use that capital to secure the network where he stores it which rewards him for doing so. Now if he eventually became a 51% holder after years of forging and collecting nxt fees, then it makes no economic sense for him to keep storing his wealth there as the value of the network goes down since centralization = less security and hence less people will choose to store their wealth there (including him). So this whale will be forced to liquidate his wealth to other platforms or systems that are more secure / decentralized and hence sells his NXT thereby decentralizing the distribution of NXT tokens again.

From the above hypothesis / possibility, the missing factor in arguments about the rich getting richer in POS does not take into account that centralization of the network devalues its tokens because that directly implies-
1. Less economic activity
2. Less security (even for the 51% whale - his node can get hacked).
3. Less demand for the tokens and thereby no liquidation channel for this "rich" whale.

To take this one step further, i think that the economic activity behind a successful POS system will ensure that the tokens remain decentralized purely by usage and diverse businesses running applications on them. If this does not happen and a POS system remains a speculative investment type of thing, then yes, the rich getting richer will start to devalue and threaten the system and this will probably keep happening in cycles till demand from economic activity out-shadows lazy whales and speculators.

I think i now deeply grasp what BCNext probably meant when he said that a world with money cannot be perfect.

Any thoughts?

5
Nxt General Discussion / Resolution of the Bitcoin experiment
« on: January 15, 2016, 06:50:46 am »
For those who haven't read this -
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.x726yj66k

It's a good read and very relevant for nxters.

6
Nxt General Discussion / BTC Centralization and NXT
« on: December 23, 2015, 07:27:27 pm »
Just thought i'd share this interesting talk about BTC centralization and the perceived problem of having decentralization and anonymity together. NXT has not been mentioned but there is some utube commentary on it so to anyone who'd like to chime in, scroll down and you'll see the discussion.

https://www.youtube.com/watch?v=_RC8wEL2r9s

edit: BTC centralization discussion starts from 33:33.

Note the points he raises about history repeating itself when it comes to everything eventually becoming centralized. What invention/commodity/whatever can remain truly decentralized other than human identity? Is the ultimate solution a proof of identity based blockchain system?

I also somehow feel that the problem of progressive btc centralization isn't yet any less of an issue when it comes to PoS systems. Money in general, seems to find a way to centralize itself in into the hands of a few. How can NXT or any pos system avoid this, if at all? The only point that seems to dismiss this is that the miners (BTC) or forgers (NXT) will not do anything to harm their own interests ie; keeping their network fairly decentralized or else their own wealth crumbles.

Any thoughts?

7
Pub crawl / NEXTbank haha
« on: November 27, 2015, 02:23:51 pm »

8
Nxt General Discussion / NXT and quantum resistance
« on: November 27, 2015, 01:36:17 pm »
As you all know about IOTA and how it is the foundation of the micro-transaction economy between low powered devices to usher in the next era of human laziness and big brother surveillance..
I would like to bring to attention one of its features that was mentioned in the whitepaper - Quantum resistance / immunity.
Now i am not some crypto expert but as far as i understand neither NXT, nor bitcoin have quantum resistant algorithms as of now. So to all the knowledgeable folks in this forum, here is a question that i would like to clarify out of curiosity -

Can the algorithms used in NXT and Bitcoin be switched to "Post-quantum cryptography" as CFB had linked in the IOTA thread (https://en.wikipedia.org/wiki/Post-quantum_cryptography)?.
  - If yes, then what would be the impact of such a change? (small update? Hard fork? or a complete redesign of the code from scratch?).
 - If no, then are there any quantum resistant payment / banking platforms being planned for humans?  ;D

9
Nxt General Discussion / Best place to buy NXT right now
« on: November 27, 2015, 10:25:36 am »
Hi Community,

I want to buy some NXT asap. I havent traded / bought crypto in a long long time now. So just need some advice from folks who've bought recently. What is the best place to buy NXT right now?

10
Nxt General Discussion / Instantdex?
« on: November 25, 2015, 12:27:33 pm »
From what i understood quite a while ago, the service Instantdex offered by Supernet was to enable decentralized and instantaneous asset trading. This, as i understand is still a big leap from our currently popular centralized exchanges in terms of both security and liquidity.
Is this still the case and if so, Is instantdex near completion?

Are there any competitors for decentralized and instant transfer of assets and crypto tokens?

Apologies if this is not the right section to post this but i could not find any other relevant section.

11
Nxt General Discussion / Nxt.org Opening Sentence Alternatives
« on: January 03, 2015, 06:29:52 pm »
On the nxt.org main page, the first sentence people read seems a bit off to me. Just wanted the community's opinion on whether we could change to something more correct or leave it as it is.
The sentence goes - "NXT is a radical enhanced cryptocurrency built from scratch"

Would the following alternatives sound better? -

- "NXT is a radically enhanced cryptocurrency built from scratch"
- "NXT is a radical and enhanced cryptocurrency built from scratch"

Thoughts? Or am i being OCD?? ;D

12
Nxt General Discussion / NXT demand vs. Asset prices
« on: December 21, 2014, 01:58:12 pm »
As we are all aware, nxt is and can be used for various purposes and one of them is trading on the asset exchange. Now what if there was a scenario where the demand for nxt soared like never before due to a new technology or service built on nxt. This would obviously cause a price rise and let us assume that it is a 10 fold increase in price over a span of a few months.
My question now is, what would be the effects of this rapid price rise on the assets traded on nxt AE? Logically, i would expect all of them to suddenly go down in value 10x (relative to nxt of course) but it is clearly not as simple as that right?
Does anyone have any predictions on how an increasing nxt price would affect asset prices and performance? What would be a wise investment strategy in such a case?

Some scenarios that i have been thinking related to this -
- Increasing price of nxt leads to larger capital for asset issuers who still hold their reserve capital in nxt. This could potentially maintain the nxt/asset price ratio and shareholders don't loose out on the nxt price rise. (Could assets really grow along with nxt?)
- Increased price of nxt leads to loss of capital for asset issuers who had already liquidated most of the nxt they raised to fiat / btc to pay for development of their product/asset. This could cause the asset prices to plummet as nxt prices increase and shareholders loose out on the nxt price rise.

I am very curious and interested in the market dynamics when such a hypothetical scenario becomes a reality. Judging by the rapid development of the tech here, i don't think we are too far from this eventually happening. Any thoughts on this?

13
Pub crawl / Decentralize Everything!
« on: November 28, 2014, 08:46:39 am »
An interesting take on the possibilities and future of decentralization -
http://www.youtube.com/watch?v=lFgnrd3G81U

14
Alternate Cryptocurrencies / Noblecoin
« on: November 01, 2014, 06:13:30 am »
Relevant to the nxt community. Check it out below -
https://bitcointalk.org/index.php?topic=841741.msg9392340#msg9392340

15
Pub crawl / Google is not what it seems
« on: October 29, 2014, 02:52:43 pm »
An excellent, well documented account of recent events and findings about Google -

http://www.newsweek.com/assange-google-not-what-it-seems-279447

Discussions welcome  :)

16
I just stumbled across this article and had to post it here. I strongly recommend nxters to read it as it occurs to me that decentralization of the global economy and bringing economic power back in the hands of the people is the only way out of the capitalistic matrix the world is currently living in. I may be wrong but it sure feels like the best way at the moment to solve this problem at a global level.


"As global capitalist economic growth accelerates planetary ecological collapse, this article, originally published on November 10, 2013, argues that - impossible as it may seem at present - only the most radical solution - the overthrow of global capitalism, the construction of a mostly publicly-owned and mostly planned eco-socialist economy based on global "contraction and convergence," on substantial de-industrialization, on sharing, on much less work and much more play and on bottom-up democratic management - is, in fact, the only alternative to the collapse of civilization and ecological suicide."


Complete article -
http://truth-out.org/opinion/item/19872-capitalism-and-the-destruction-of-life-on-earth-six-theses-on-saving-the-humans

Any thoughts, ideas and opinions on the matter are more than welcome  :)

17
Nxt General Discussion / A company called NXT in New Zealand
« on: October 11, 2014, 07:57:51 am »
https://www.nxt.co.nz/pages/about

Strangely, their usage of the term "NXT" as a platform for emerging companies and markets could also be said for NXT itself hehe.

18
Nxt General Discussion / Making NXT's evolution competitive
« on: August 07, 2014, 08:17:34 pm »
From what i've understood about decentralization in general is that each 'entity' works for the greater growth/evolution but via their own channels/methods. This allows all ideas whether seemingly good or bad to be tested and then proven rather than to be subjected to speculative debates. Having various organizations/entities or sub groups of people with varying ideas on how to push NXT to the financial world, as they all work in parallel can possibly be a good thing. So in such a sense, would the NXT community be willing to have a sort of "decentralized" leadership of sorts where there could possibly be dozens of independent organizations worldwide adding their unique visions and some diversity to the general "ecosystem".

I feel if the above line of thought make sense to most, it could be beneficial to NXTs reach and usage. So is this a reasonable idea to keep the entire ecosystem decentralized but also competitive? Where the competition only serves to further the reach and adoption of the platform. As the platform gets more and more adopted, it wouldn't eventually matter which entity/organization/group was successful and which was a failure since collectively, everyone is ultimately just trying to work towards NXT's advancement as a widely adopted 2nd gen crypto. Hence, everyone participating wins anyway.

This is just an interesting idea that i had today while reading the following thread -
https://nxtforum.org/news-and-announcements/nxt-organization-initiative/msg77851/?topicseen#msg77851

Thoughts?

Also on a side note, maybe these organizations could allow stakeholders to lease their forging power to them as a form of donation to keep them funded. This would end up being based on how well they perform and align with the greater common interest of a decentralized NXT. So leasing forging power itself becomes like an option to donate to organizations that are doing well in the eyes of majority of the stakeholders.



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