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Asset Exchange Technical Discussion / Lockable assets
« on: April 24, 2015, 05:23:51 pm »
I wonder if we should create a type of asset to allow the issuers to lock the sold assets for a period of time (maybe this also can be done by controllable accounts). For instance, in the real world, for the seeding fundraisings or first market of stock issuing,  the stocks(assets) issuers usually set a term of not allowing the buyers to sell the stocks for a period of time (usually 1 to 2 years). If we have this function, the AE will be more attractive.

The 10 ideas Coinbase mentioned in their email can also apply to Nxt:

Here’s 10 ideas for startups that we would love to see more developers working on:

Email- Email applications that eliminate spam by requiring bits for email delivery

Video- Video applications that require one-click micropayments to view video content

News- News sites that eliminate advertising for users by requiring bits for time spent viewing content

Crowdfunding- Global crowdfunding applications that allow project creators to raise funds from around the world

Payouts- Applications that allow creators or service providers anywhere in the world to get paid out from a global audience

Remittances- Global remittance applications that enable worldwide cross-border payments

Ecommerce- Bitcoin focused merchant directories that offer a beautiful UI for bitcoin-focused consumers

Communication Networks- Applications that incentivize nodes to provide resources to communications networks by rewarding bits for participation (reducing consumers dependence on large, centralized companies to communicate)

Identity- Distributed identity applications that give people control of their own identity, built on top of a distributed identity protocol (e.g. Open Name)

Attribution- Attribution applications that allow users to prove ownership of data, built on top of an attribution protocol

These ideas are intended to help stimulate thinking about what can be done with the blockchain.

I wonder if it is possible for one account to pay transaction fees for the transactions of other accounts. For instance, I start a business and I want to pay the transaction fees for my clients whenever they make transactions.

Nxt Pension System

To build a long lasting healthy Nxt society and economic system, I suggest that we build a Nxt Pension System for all members in the Nxt community. With this pension system, participants can secure their future and retired life with paying (investing) in this pension system for a certain years.

I will draft a plan for this system as simple as possible and we can start from it:

A participant makes monthly X Nxt payments (investment) in this system for N years or makes total of 12N payments first.  As soon as the participant completes the 12N payments (it can be consecutively or not consecutively), this participant is eligible to receive monthly Y Nxt pension payment for A*N years or 12*A*N payments from this pension system.

For example of the setting of parameters:
Y – will have to be calculated based on how much Nxt in the pool by the time and how many payments obligate to payout at that time. For instance, if the total Nxt in the pool at the time is M and the  total obligate payouts in the future is Q, then Y=M/Q. But we can cap the Y to 1.2X in case there are too much Nxt in the pool and too less payouts to make in the early stage.

One account can purchase multiple Nxt Pension Plan and the system should be fully automated.

Among the assets issued on AE, some of the business opportunities presented by those assets actually look legit and valid. However, noone knows if the issuers are really pursuing those business opportunities or just use them as decoys to scam investors.

I wonder if an accounting audit company can help to build a healthy AE market which will benefit both the issuers and investors. For instance, the audit company can check some basic facts and the  business plan of a company before it issues asset and do the annual audit for the company. The audit company will charge a fee for its audit service and can be a DAC. Same goes with an insurance company.

It seems that the main barrier to implement the TF is the lack of a healthy hubs/leasing forging nodes network for Nxt. C-f-B has mentioned this issues in several occasions. The most recently one is here  - https://nxtforum.org/news-and-announcements/economic-clustering/

I think Infras Committee can help out with this issue. I suggest that the Infras Committee create a bounty to reward leasing forging hubs if the hubs operate for a certain time and with a certain amount of Nxt and a certain infras capacity. Since I am not a technical person I am not able to give out the details of the criterions to qualify for the reward. I hope you guys can figure it out and set a rule. I believe it will help to build the required hub network for Nxt.

To inspire business development and Entrepreneur. I suggest that we change the General Discussion board to or create a new board for Business and Entrepreneur and create a Payment Processors sub-board under it. It is time to look the business front of Nxt as essential as the Tech front.

Alternate Cryptocurrencies / Sia - a quorum based crypto
« on: May 01, 2014, 07:06:39 pm »
Sia - a quorum based crypto - https://bitcointalk.org/index.php?topic=591283

Edit - Storagecoin (likely a scam) copied all its information from this Sia project.

Alternate Cryptocurrencies / What happened to NXTL?
« on: April 30, 2014, 01:10:02 pm »
What happened to NXTL? Both of their threads have been locked.

General / Nxt Cross Chain Transaction Project Info
« on: April 18, 2014, 02:57:06 pm »

Here is the Bitcointalk link of the Nxt Cross Chain Transaction Project https://bitcointalk.org/index.php?topic=498898.0

I guess this project will be re-started at some point in the future once we have AE and AT.

Can Nxt apply for this European 2014 digital currency Tech Rewards? -

It would be huge if Nxt can win.

Technical Development Applications / Bounty request for the AT project
« on: March 25, 2014, 07:57:40 pm »
To Tech Committee:

A bounty is requested for the AT project. This project is currently under development and is involved with three parties:

1) CIYAM - developer of this project (under development).
2) vbecas and arafel71 (and some other persons for testing) - java programers - porting CIYAM's c++ codes to Java and test (under development).
3) CFB and JL - implementation of AT

We need a total bounty for this project and disburse to the three parties. I can't figure out the number of bounty. I hope you guys can come up with a appropriate number and the community members can feel free to suggest.

Edit - Proposed amount for this bounty is 600,000 NXT

Some information about this project:

1) the previous AT thread on BTT: https://bitcointalk.org/index.php?topic=463731.0
2) the current AT thread on CIYAM OPEN website: https://ciyam.org/nxt/ and  http://ciyam.org/open/?cmd=view&data=20140228075704934000&ident=M100V124&chksum=40a9a657
3) the current AT thread on this forum:  https://nxtforum.org/automated-transactions/information-of-the-at-project/


Submission date: March 25th, 2014

Edit - Here is the links to the codes and works:

1) CIYAM's C++ code: https://ciyam.org/nxt/

2) vbecas's Java translation: https://bitbucket.org/vbcs/nxtat.git and the standalone version java - https://bitbucket.org/vbcs/nxt_at_serialized

Bounty payment plan:

This bounty payment plan is proposed to satisfy both contributors and shareholders. Since Ciyam is using an open tool/method to manage the project he would be the best person to manage the bounty ( Everyone can follow the progress and contributions from Ciyam Open as well). I would suggest to have three bounty payments for 3 stages of this project.

First one is the complete of the c++ and Java code and the 3 cases. Now this stage is done.The payment for the first stage is 30% of the total bounty(0.3 *600,000 Nxt=180,000 Nxt).

The second stage is the finalization of Java code and testers and being ready to implement. The payment for the second stage is also 30% of total (0.3 *600,000 Nxt=180,000 Nxt).

The third will be the complete of implementation. The left 40% of bounty will be payed out in the end of this stage(0.4*600,000 Nxt=240,000 Nxt).

Automated Transactions / Information of the AT project
« on: March 24, 2014, 01:35:16 pm »
You can also find more information about the AT project from:

1) the previous AT thread on BTT: https://bitcointalk.org/index.php?topic=463731.0
2) CIYAM's C++ code: https://ciyam.org/nxt/
3) vbecas's Java translation: https://bitbucket.org/vbcs/nxtat.git and the standalone version java - https://bitbucket.org/vbcs/nxt_at_serialized

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