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Messages - kwilliams

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1
Nxt General Discussion / Re: Ardor Bundlers vs Dash Masternodes
« on: March 10, 2017, 06:25:38 am »
I see, so side-chain owners run bundles to ensure their side-chain can process transactions with fees paid in native token. Otherwise all fees need to be paid in ARD? In that case consider what happens if side-chain owner does not have the tech skill to run bundlers?  We may needs some facility allowing chain owners to attract & pay to bundler operators. For example posting some kind of bounty  (in ARD) that bundles automatically get for servicing the chain.

2
Nxt General Discussion / Ardor Bundlers vs Dash Masternodes
« on: March 03, 2017, 07:35:12 am »
How's the new ardor "bundler" role compare to Dash Masternodes? Will the bundler be a separate network daemon running 24/7 on a static IP ? Will there be capital reserve requirements for being a Bundler?

In general it may be worth considering taking a page of Dash's playbook an incentivizing people to run nodes 24/7 for purposes other than securing the network. For example performing email relay, storing files off-chain or routing web traffic (all for a fee)

Thoughts?

3
Testnet / If you want some testNXT (or ARDR, IGNIS) - ask here
« on: February 21, 2017, 06:01:00 am »
Please send me some test ARDR and IGNIS:  NXT-MR3W-T55Q-YP27-6BFDE

4
Feature Request: Lending System

The main goal is to facilitate origination and payment of NXT loans. As a borrower I should be able to go to the “Lending System” tab and issue a “Loan” with following parameters:
  • Total loan size. For example 100000 NXT
  • Loan repayment (aka maturity) date. For example 30000 blocks from now
  • Individual bond size. For example 200 NXT. The number of bonds is [loan size] / [bond size], in this case it would be 100000/200 = 500
  • Interest payment schedule (aka “coupons”). For example 1 NXT per bond, payable every 10000 blocks (until maturity)

Notes:
  • Once the loan is created, the bonds become tradeable much like other assets. They can be bought sold, transferred, etc.
  • Bond issuer receives a notification message when interest (or principal) payments are due and can make payments to bondholders much like one would do with dividends for an asset.
  • When the final (principal) payment is made, the bond becomes “redeemed” and can be removed from the block chain history much like transient messages.
  • If one (or more) payments are missed, the bond becomes “in arears” and is displayed with different color in the UI. When enough payments are missed (say for 20K blocks), the bond becomes “in default”

Such system (if properly implemented) could:
a)   Facilitate NXT corporations (aka asset issuers)  in issuing and managing their loans
b)   Create a secondary market for loan instruments (bonds)
c)   Improve the visibility of good and bad borrowers and become a basis for building trust (ala credit rating) for NXT bond issuers.

In addition there could be the ability to assign collateral to bonds (at time of issuance) for example an X amount of asset or currency per bond. The collateral would be automatically transferred to bond holders in case of bond defaults. This way a corporation could raise capital posting it’s shares (or other instruments like aliases, etc) as collateral thus limiting the risk for bond holders.

Due to its similarity with assets, bonds could be implemented as another asset type

5
Alias System / Re: Alias as a check
« on: July 31, 2015, 05:14:34 pm »
It only takes 1000 NXT to register an asset, which would do the same thing much more organically, except maybe the ability to issue IOU (aka "checks") in various different fiats.

What would be cool, is if NXT could issue random securities in the form of bearer instruments. The problem with these however (just like with your $100 "check") is orchestrating the redemption process. If you hold a $100 IOU issued by me, how are we going to exchange the IOU for Fiat without trusting each other. Use cases:

1) You receive $100 but refuse to acknowledge the IOU as redeemed (malicious holder) and instead xfer the IOU to a 3rd party. What's my recourse ?

2) I send you $100 but it gets stolen/confiscated by a middle man. What's our recourse?

3) You try to redeem the IOU but I claim it's already paid. What's your recourse?
 
Summary: you cant have an IOU system without TTP (trusted 3rd party). At the very least there's got to be a notary / judge of sorts who can invalidate (mark as redeemed) the IOU in case the two parties disagree. And then there's the question of how to track reputation ...

6
Nxt Helpdesk / Re: Whats my NXT Account?
« on: July 23, 2015, 06:33:22 am »
Here's a faucet for announcing public keys: http://jnxt.org/key/

7
Find the NXT installation directory (It should contain a file named "run.bat")
Open a command line (aka DOS aka Terminal) window and cd into the above directory
Type "run.bat" and press ENTER
Watch the messages on screen and look for errors

8
Official Nxt Releases / Re: NRS v1.5.14
« on: July 22, 2015, 07:54:39 pm »
it worked

9
Official Nxt Releases / Re: NRS v1.5.13
« on: July 19, 2015, 10:26:33 pm »
IMHO the days of reliably running NRS on less that 512 MB RAM are gone. Nowadays you have to be in the 0.5 GB  - 1.0 GB range to ensure things run smoothly. As more features are built into NRS, more indexes are added to the database, which eats up memory.

So get a Raspi 2.0 with 1 GB ram and you should be back in business for a year or two. Eventually however NRS will only run on a high grade server hardware (or die in oblivion)

10
NXTPortal.org / Re: nxtportal.org - Nxt blockchain explorer
« on: July 17, 2015, 04:46:51 am »
Looking at the globe, it seems the NXT community had not put enough effort to promote diversity and ensure equal access for all people, regardless of their race. How else could you explain the relative absence of NXT nodes in Africa? And don't give me the standard "lack of infrastructure" excuse. Everyone knows that African people are every bit as brilliant and capable of great achievements when not held back by (Western) oppression, bigotry and racism.

NXTers must look deep into their souls and come clean of any conscious or subconscious actions (present or past) that could bring shame to this community. A good first step would be a donation to the American Civil Rights Institute (http://acri.org/) or directly to me at NXT-1111-KCUF-1EHT-TAHW

11
Official Nxt Releases / Re: NRS v1.5.13
« on: July 15, 2015, 07:06:41 am »
Nice work, updated my node on EC2 without problems

12
Account Control / Derived Keys
« on: June 19, 2015, 04:49:48 am »
NRS should be modified to allow creation of additional key pairs under the same account. They will derive trust from the main account (similar to SSL certificates chains) but have additional restrictions applied to them at creation. For example I should be able to create a "non-spending" keypair that is good for everything else except direct balance transfers. I would use it in my daily activities (sending messages, forging, transferring assets, etc) and even if private key becomes known, people wont be able to steal my balance directly.

Conceptually such keypairs would not be much different from aliases - they will all resolve to the same main identity but be used for different means. Each will have one or more standard policies associated to it ("Can transfer balance", "Can transfer asset", "Can forge", "Can pay network fee", etc). In addition they can have activity quotas ("max_per_block=3","max_per_day=50" which means the key can be used maximum 3 times per block and maximum 50 times per day (1440 blocks)). This is in case they get hacked, the owner will not be bled dry before he has time to revoke the keys.

The usefulness of such keys gets beyond simple security. For example I can create a "messaging only" key and give it to my marketing person to manage the communications of my account without having to worry about them getting hacker, etc. I can also have "asset trading key" which I give to a trading desk which is only interested in managing my asset portfolio (so they can sell my assets or transfer them out, yet have no direct access to my NRS balance)

13
Account Control / Re: What is Account Control ?
« on: June 19, 2015, 04:48:13 am »
NRS should be modified to allow creation of additional key pairs under the same account. They will derive trust from the main account (similar to SSL certificates chains) but have additional restrictions applied to them at creation. For example I should be able to create a "non-spending" keypair that is good for everything else except direct balance transfers. I would use it in my daily activities (sending messages, forging, transferring assets, etc) and even if private key becomes known, people wont be able to steal my balance directly.

Conceptually such keypairs would not be much different from aliases - they will all resolve to the same main identity but be used for different means. Each will have one or more standard policies associated to it ("Can transfer balance", "Can transfer asset", "Can forge", "Can pay network fee", etc). In addition they can have activity quotas ("max_per_block=3","max_per_day=50" which means the key can be used maximum 3 times per block and maximum 50 times per day (1440 blocks)). This is in case they get hacked, the owner will not be bled dry before he has time to revoke the keys.

The usefulness of such keys gets beyond simple security. For example I can create a "messaging only" key and give it to my marketing person to manage the communications of my account without having to worry about them getting hacker, etc. I can also have "asset trading key" which I give to a trading desk which is only interested in managing my asset portfolio (so they can sell my assets or transfer them out, yet have no direct access to my NRS balance)

14
Official Nxt Releases / Re: NRS v1.5.12
« on: June 19, 2015, 04:37:55 am »
NRS should be modified to allow creation of additional key pairs under the same account. They will derive trust from the main account (similar to SSL certificates chains) but have additional restrictions applied to them at creation. For example I should be able to create a "non-spending" keypair that is good for everything else except direct balance transfers. I would use it in my daily activities (sending messages, forging, transferring assets, etc) and even if private key becomes known, people wont be able to steal my balance directly.

Conceptually such keypairs would not be much different from aliases - they will all resolve to the same main identity but be used for different means. Each will have one or more standard policies associated to it ("Can transfer balance", "Can transfer asset", "Can forge", "Can pay network fee", etc). In addition they can have activity quotas ("max_per_block=3","max_per_day=50" which means the key can be used maximum 3 times per block and maximum 50 times per day (1440 blocks)). This is in case they get hacked, the owner will not be bled dry before he has time to revoke the keys.

The usefulness of such keys gets beyond simple security. For example I can create a "messaging only" key and give it to my marketing person to manage the communications of my account without having to worry about them getting hacker, etc. I can also have "asset trading key" which I give to a trading desk which is only interested in managing my asset portfolio (so they can sell my assets or transfer them out, yet have no direct access to my NRS balance)

X posted this to Account Control (https://nxtforum.org/account-control/) as well

15
Official Nxt Releases / Re: NRS v1.5.12
« on: June 17, 2015, 04:04:45 am »
What is  NXT+ ???

16
Nxt General Discussion / Re: Nxt Auction System
« on: June 17, 2015, 04:02:05 am »
Never used auctions? How about e-Bay?

17
Nxt General Discussion / Re: Nxt Auction System
« on: June 16, 2015, 03:55:49 am »
Auctions should be independent of DGS, rights management (DRM) or any other current or planned NXT feature. Auctioning should be a core feature around which others could be built. Some auctions may not even involve digital goods or services.

18
Nxt Projects / Re: Micro-payment service NxtTips
« on: June 15, 2015, 07:32:13 am »
How do I withdraw funds from my NXTTip account?

19
Nxt General Discussion / Re: Nxt Auction System
« on: June 15, 2015, 06:38:20 am »
Auctions are needed now more than ever and I believe should be designed like the voting system. I'd imagine you start by creating a "designator" which is a set of rules governing who can participate in the auction (for example "everyone", "asset X holders", etc).

Then you chose start and end block, starting bid and direction (normal or dutch)

Finally, you build an (optional) execution list like this:
* Winner receives N units of currency C
* Winner receives N units of asset A
* Winner receives alias L
* etc

Upon the creation of the auction, the system verifies ownership of the execution list items and locks them for the duration of the auction.

Upon the end of the action, the execution list (if supplied) is automatically interpreted and it's contents transferred to the winner.

20
Official Nxt Releases / Re: NRS v1.5.12
« on: June 15, 2015, 05:57:53 am »
Rather than doing 12/24 hour time, etc. can we have the option to specify a format string directly? I would very much like my dates to show as "yyyy-MM-dd HH:mm:ss"...

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