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Messages - pt7

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1
Core Development Discussion / Re: Nxt 2.0 design
« on: February 22, 2016, 07:21:46 am »
...
Assets value should be tied to profit making capacity of the underlying instrument, and not to be valued by NXT's inherent value.
+1440  Also would like to point out that trading asset-to-NXT has inherent limitation, present in in 1.7, where the amount of assets that can traded are constrained by the amount of NXT liquidity at the given time.  For example assume a gold pegged asset.  If the amount bought/sold is equivalent to $1000 USD then no problem, since this will not move the price of NXT much.  However, if someone wants to buy $1M worth, the NXT price would easily double and then half again if seller cashes out.  Not an ideal case for either the buyer or seller.   Someone mentioned a few pages ago asset-to-asset transfer which might solve this, and also make the asset concerns for NXT 2.0 a moot point.  If the $1M worth asset is traded against a BTC pegged asset, the BTC price would not move much.  However, if the transaction was $1 Billion worth, it would require another asset that can handle the liquidity such as a USD backed asset.   I don't know whether asset-to-asset is feasible to implement, which is why I am bringing it up.  Or perhaps support only limited more liquid assets such as BTC.  The bottom line is that NXT should be the engine for making the asset trade happen and the NXT price not affected by transfer of value from NXT to/from asset.  The value of NXT should strictly derive for being a useful token.   Just my 0.02 NXT and sorry if this was already brought up - not much time lately to catch up on discussions :)

2
Nxt General Discussion / Re: Price speculation
« on: November 09, 2015, 07:27:17 am »
If Supernet splits from NXT, it'll be Supernet that fails not NXT.

SuperNET is not going to 'split' from NXT. SuperNET will natively implement some functionality that it is currently accessing on the NXT API.

The assets and the fee, dividend and revenue stream structures remain.

Well why is James "rage selling" his NXT?

As was talked on slack, he is emotionally trying to show, that he can dump the price significantly, so this is a protest to core devs. Also consider the price of this millions, now he bids 20K NXT for BTC, no one will buy that, so for now this is just a protest.

A little hotheaded over an API change don't you think?  His blackmail attempts don't inspire a lot of confidence in him or his software.  Maybe we should just play out this game of mutually assured destruction that he's started and anybody who holds his assets should dump them.  A lot more NXTers hold his "assets" than he holds NXT.  Let's push the button and see who survives.  Hint: It won't be James or Supernet.

No, I think the truth is in remarks from both sides - core devs have made a mistake while changing API and so giving a reason to eveyone not to believe NXT at all and not to build serious corporative platforms on top of it. They should be considered like guys who have largest NXT stakes, so they are feeling technical and economical power (but saying that I am not going to hurt them, I respect their continous hardworking on the core features). And I should say, this facts could kill NXT. Like mentionally-caught parents could kill their child with infinite love.

Second side is James. He is advanced and very creative, open-mind dev of SuperNET, which could be considered like "such large corporative project on top of nxt" which is very useful and important for NXT platform. And after changing API - it fails. There is no matter, whether it is easy to fix or not (this is the argues of core devs, that the fixing is extremley simple). Now his work is failed due to risk of API changing, it will take him more work to fix the code and to put away some technical nxt dependancies.

SO. It is clear, that James is very important to our community, and thus, to a price o NXT, James will not leave SuperNET from NXT completley it is for sure, but this act of selling 20M nxt - is an act of protest and demand for core devs to mention and to respect the users of the core (cause building a systems on top of the nxt - it is also - a "using a system" of NXT). But his dumping... Don't like this to be real dump :)

So there is no need to talk about is he survives after his dump. I also think, that it is crucial for one man to rebuild the SuperNET, it is crucial for everybody - cause NXT platform and SuperNET - are losing clients and investors both. I think the way of both sides is to respect  each other and produce a synergy, not competition.

James is being too emotional and showing his immaturity.  He is costing NXT and SuperNet investors money because he is upset.  All of his investors are NXT investors also.  How is intentionally trying to suppress the price in anyone's best interest?

James is obviously too immature to handle this situation and the amount of money under his control.  I will never purchase an asset that is associated with James and if I hear anyone else thinking about purchasing any of his assets, I will strongly warn them against it.  James is only hurting himself with these hissy fits.  NXT will survive; James won't.

Agree. Glad I dumped my SN recently.  Keep in mind at time the SN idea was conceived, NXT with even less features, was over 6000 sat. BTC was about $480 USD, higher than today.   NXT does not need SN, even though it would be a big plus.  Perhaps SN does not need NXT either - only needs a scapegoat.  Hard to see how BTCD, or any other emerging tech, offer 100% backward compatibility unless development is on par with BTC.  I think he has been too harsh on the devs who have been delivering a very stable and featured software.

Also this temporary dumping is a good thing. It helps this "unfair" distribution.

4
Nxt General Discussion / Re: Price speculation
« on: February 13, 2015, 01:05:18 am »
Just a thought here about a possible contributing factor to the recent price weakness.  If someone wants to take profits in the US, it is preferable to wait a year after investing if treating this as a capital gain.  The tax rate is much lower then - otherwise it is the same as income.  This may apply to other places too.  This might be reason why some seller who sold, did not cash out earlier.  If true, then great time for some cheap NXT  ;D


5
Nxt General Discussion / Re: Price speculation
« on: December 27, 2014, 05:37:57 pm »
BTER may be compromised (another quasi-scandal might break soon/or has broken out, depending on your level of suspicion). People seem to (correctly in my estimation) be moving to POLO... good move on their part.

Read about BTER and bitbay...

So what is up with 61 BTC Poloniex volme?? Almost half of our volume is on Polo now, whre did this come from?
Nope. It's Polo's new web design.
And withdrawal fee = 1 NXT

6
Nxt General Discussion / Re: Price speculation
« on: December 14, 2014, 07:40:09 pm »
I would have found it a little easier to believe that BTER was really hacked before their involvement in the BitBay scam came out.  Now that they are blatantly involved in other scams and thefts, you'd have to be an idiot to trust them and take their word as the truth.

Let's assume the worst on BitBay, which I have really not followed much, but does smell fishy.   Then don't thieves also get robbed?

7
Nxt Improvement Proposals / Re: Full Financial/Banking System
« on: December 06, 2014, 07:00:04 pm »
bump!! c'mon nobody really into this? It would be the best system that any crypto currency would have seen !

How does the "Forced to Repay Debt" part work?  Is the diagram missing a "Leg Breaker" component? :-\

9
Nxt General Discussion / Re: Anti-"JL777" coalition
« on: October 02, 2014, 06:58:13 pm »
Considering jl777 is providing much of the current value our nxt has, this is the stupidest idea I have ever heard.
+1
If there is any problem with this, the solution is not to stifle the main person that is adding value on top of NXT.  The solution is to have more creative people realize the opportunities in NXT and to offer assets that are as good or superior to jl777 offerings.   I believe this will happen in time, but he is the pioneer. In the meantime, I continue to look forward to his great ideas for NXT. 

10
ORAFACE



NXT-JLK9-QEG8-3SB6-76D2V

11
Nxt General Discussion / Re: CoinoUSD giveaway.
« on: September 16, 2014, 03:54:47 pm »
NXT-JLK9-QEG8-3SB6-76D2V

Thanks

12
Nxt General Discussion / Re: SuperNET IPO/Poloniex
« on: August 31, 2014, 09:35:41 pm »
I'm going to start a rumor.  The reason the Supernet IPO needs to be so big is that lots of LTC needs to be acquired before its rapid rise.  LTC will be putting NXT Inside, in order to add 2.0 features and stave off its demise.

disclaimer: I am inventing this rumor.  I've got no information about this.  I'm not even buying LTC myself.

I will now dump all my NXT and BBR to buy LTC.

13
Do you want bter go to bankruptcy like Mt Gox? At least their effort to bring back lost NXT should be recognised, which is transparent, smart, serious. They manage to re-open NXT market. We don't need to panic and will get back all our NXT without fee in the near future.
+1. 
It looks like part of the strategy is to put pressure on the NXT price in order for BTER to buy it back at a lower price. This makes complete sense to me under the circumstance. However, there can be other factors that can cause the price to sky rocket.   Thus the buy back may take longer. Some hedging by BTER may be needed - is there something like the inverse of ShortNxt asset available?

14
...

Btw: do you have enough NXT in your accounts for everyone to withdraw?
It is well known that they are 8M short.  This fee reduces the incentive to withdraw, and gives BTER some time to earn this 8M.
Is it well known? Where does Bter state that they are short 8m NXT?
This is the amount the hacker has not yet returned: http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1244396688755618309

15
...

Btw: do you have enough NXT in your accounts for everyone to withdraw?
It is well known that they are 8M short.  This fee reduces the incentive to withdraw, and gives BTER some time to earn this 8M. 

16
domsch, aren't you the nxthaus guy? I might be confusing the name. What happened to nxthaus?
I just noticed that too. I am surprised he did not post using a sock puppet account.

17
Yes, but no more crypto than I can I afford to lose.  But, I should not own no more crypto than I can afford to lose.   I guess that would make it all my crypto.  Perhaps I need to rethink this.   :-\

18
A hard fork can only hurt NXT for several reasons:

1.  The public needs to know that their NXT are fungible.

2.  If we hard fork now, what about the people who got hacked for much less NXT?  The public needs to know that their 1 NXT has the same "value" as another person that has 50 million of them.  If not this will defeat the purpose of having a crypto currency.

3.  Worst of all, major supporters/promoters/evangelists etc of NXT will abandon ship because NXT will no longer have credibility because at any time, one individual or party can come in and force the community to fork.

It's tragic that bter lost 50 million nxt in the short term... to ensure the long term survival of NXT, we can not afford to hard fork.

For these reasons and many others I DO NOT support a hard fork of the NXT blockchain.

Enjoy.
Tai Zen
+1
This is a slippery slope.  If we do this, then why not use this for "chargebacks" if if there is a dispute between buyer and seller?  Or perhaps, if one uses NXT to contribute to a cause that is against the "common good"? Or perhaps if one buys drugs (or worse, cigarettes) with it?  These are just examples to make a point.  Once you open the door, there is no turning back.  The only legit reason for forking if there is a serious bug.

19
Option 1. But the hacker needs to send the first chunk, since he owes from the previous round.

If no agreement, then option 2, and this option is starting to look better and better.  I wonder if BTER can implement some type of voluntary commited pledge of NXT from anyone that has NXT in their account.  This commited amount can be used to sweeten the pot.
   

20
Nxt General Discussion / Re: Price speculation
« on: August 12, 2014, 02:16:39 am »
james is a machine and a gentleman.
+1
I think he should use the ignore list more often.

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