NXT :: descendant of Bitcoin - Updated Information

[utopianfuture]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan bank in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.


Edit:
Imaging the volume of fee generated by BTC/Nxt Gateway....this gateway should be the 1st Nxt Asset Exchange IPO.


so it would not be under the control of one individual...and anyone can buy in at anytime.

this IPO would see huge demand!

The gateway has to be one individual's responsibility. This person needs to be loaded so that he can perform the act of exchanging Nxt/ Btc at any request of buyers/ sellers. It is not going to be an easy task.

[landomata]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them.  

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

[Come-from-Beyond]

So, you dont have the same issue, right? What version are you personally running?

0.4.8. I do have this issue time to time.

[usecoinsnotcash]

NXT almost overtaking master coin very cool!! If anyone would like to buy my NXT please PM me, selling them asap

Possible happens, not sure what happens when MSC will use milli-mastercoins. The problem for mastercoin is the BTC per Mastercoin.
Another problem is that 80% of the new NXT adopters and MSC adopters dont even know what NXT or MSC is.

Hahaha very true!

[davethetrousers]

Mastercoin devs scrambling to crash dgex ...

No reason for them to do that.

If they really really really want to stay ahead in marketcap? lulz

[jl777]

Newcn,

The simplegateway doesnt need you to create any special account, you can use your existing wallet
It is a modal page, so if you have it set to deposit, it will ask for your ripple address, if withdraw your coin address

To everyone suffering from dgex outages, I would like to make proposal
I would like to complete development of tradiing page asap so that between now and availability of peer to peer xchange, we will have distributed wxchange using ripple network. There are more than just ripple's servers and with google as a backer, let the ddosers go up against the distributed ripple network

Maybe after end of jan, nobody will want to use our exchange, so this is a big risk for us. I think that even after peer to peer xchange is in nxt, there will still be a lot of people who will want to get some fiat, we all have to buy groceries somehow. We already have usd gateway so you can convert btc/nxt to usd

Ripple is also very popular in china and this could provide an easy path for Chinese investors

I think the next six weeks are critical and having a stable way to trade nxt is strategically important, i am hoping to get significant founder support

I want to provide nxt exchange with commissions of 0, fees of 0, deposit fee of 0, withdrawal fee of zero
We believe enough in nxt future to pay for our expenses from forging revenues.

I hope the community will see the value that a totally frictionless trading for nxt will do.

There is no such place for btc anymore, btc china used to be that way and got to $100 mil volume/day

All i need is a big enough bounty to pay for development costs and nxt will always be able to trade nxt without any fees, no withdrawal fees, automated deposit and withddrawal

James

[utopianfuture]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them.  

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

A Nxt blockchain explorer company by nxerm is the least risky I can think of right now. You buy the shares in his IPO and then the shares will be traded freely in the market. Nxt blockchain is the proven service to the company so that give the share the value.

[landomata]

NXT almost overtaking master coin very cool!! If anyone would like to buy my NXT please PM me, selling them asap

Possible happens, not sure what happens when MSC will use milli-mastercoins. The problem for mastercoin is the BTC per Mastercoin.
Another problem is that 80% of the new NXT adopters and MSC adopters dont even know what NXT or MSC is.

Hahaha very true!

Nxtsters are very informed....that is why the forum is 2000 members strong...plus Nxt is designed to be simple

[Come-from-Beyond]

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.

other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

BTC can be interfaced on protocol level, noone will be able to run with bitcoins.

[klee]

Code:

2013-12-26 16:49:45.050:WARN:oejs.ServletHandler:qtp1916388806-94: /nxt
java.lang.IllegalStateException: WRITER
	at org.eclipse.jetty.server.Response.getOutputStream(Response.java:931)
	at Nxt.doGet(Unknown Source)
	at javax.servlet.http.HttpServlet.service(HttpServlet.java:687)
	at javax.servlet.http.HttpServlet.service(HttpServlet.java:790)
	at org.eclipse.jetty.servlet.ServletHolder.handle(ServletHolder.java:696)
	at org.eclipse.jetty.servlet.ServletHandler$CachedChain.doFilter(ServletHandler.java:1568)
	at org.eclipse.jetty.servlets.DoSFilter.doFilterChain(DoSFilter.java:457)
	at org.eclipse.jetty.servlets.DoSFilter.doFilter(DoSFilter.java:326)
	at org.eclipse.jetty.servlets.DoSFilter.doFilter(DoSFilter.java:299)
	at org.eclipse.jetty.servlet.ServletHandler$CachedChain.doFilter(ServletHandler.java:1539)
	at org.eclipse.jetty.servlet.ServletHandler.doHandle(ServletHandler.java:524)
	at org.eclipse.jetty.server.handler.ScopedHandler.handle(ScopedHandler.java:143)
	at org.eclipse.jetty.security.SecurityHandler.handle(SecurityHandler.java:568)
	at org.eclipse.jetty.server.session.SessionHandler.doHandle(SessionHandler.java:221)
	at org.eclipse.jetty.server.handler.ContextHandler.doHandle(ContextHandler.java:1110)
	at org.eclipse.jetty.servlet.ServletHandler.doScope(ServletHandler.java:453)
	at org.eclipse.jetty.server.session.SessionHandler.doScope(SessionHandler.java:183)
	at org.eclipse.jetty.server.handler.ContextHandler.doScope(ContextHandler.java:1044)
	at org.eclipse.jetty.server.handler.ScopedHandler.handle(ScopedHandler.java:141)
	at org.eclipse.jetty.server.handler.ContextHandlerCollection.handle(ContextHandlerCollection.java:199)
	at org.eclipse.jetty.server.handler.HandlerCollection.handle(HandlerCollection.java:109)
	at org.eclipse.jetty.server.handler.HandlerWrapper.handle(HandlerWrapper.java:97)
	at org.eclipse.jetty.server.Server.handle(Server.java:459)
	at org.eclipse.jetty.server.HttpChannel.handle(HttpChannel.java:280)
	at org.eclipse.jetty.server.HttpConnection.onFillable(HttpConnection.java:229)
	at org.eclipse.jetty.io.AbstractConnection$1.run(AbstractConnection.java:505)
	at org.eclipse.jetty.util.thread.QueuedThreadPool.runJob(QueuedThreadPool.java:607)
	at org.eclipse.jetty.util.thread.QueuedThreadPool$3.run(QueuedThreadPool.java:536)
	at java.lang.Thread.run(Thread.java:744)

[landomata]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....their price would move like a normal share....another source of income parallel to mining.

[Come-from-Beyond]

Code:

2013-12-26 16:49:45.050:WARN:oejs.ServletHandler:qtp1916388806-94: /nxt

This is just warning.

[landomata]

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.

other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

BTC can be interfaced on protocol level, noone will be able to run with bitcoins.

pls elaborate further

[davethetrousers]

I think this is some sort of spasm of the server/client interface. Directly after that, the web client shows 0 for everything. Some moments later, it has recovered.

Code:

2013-12-26 16:49:45.050:WARN:oejs.ServletHandler:qtp1916388806-94: /nxt
java.lang.IllegalStateException: WRITER
	...

[jl777]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

[utopianfuture]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them.  

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.    

[utopianfuture]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

Here is what I am proposing

We will need a protocol that any company has to follow to make an IPO on Nxt network and listed as an asset in the asset exchange.
The minimum you will have to do is:

1. state why your company has value; your company mode of operation; total shares you re going to issue
2. your responsibility to the company and the share you are going to issue.
3. basically, it is your responsibility to persuade Nxt holder to trust you and your company

This will be included in the social contract on your IPO open for the public in a secure forum.

There is a fee for IPO and asset listing. I think it is 1000 Nxt. So if you can't persuade people to buy your share, you will lose that 1000 Nxt. If you finish your IPO successfully, your share will be listed in the asset exchange. Form that point on, the price discovery process will determine the true-worth of your company/ idea.  Of course if you run away with your money, your share will hit zero and being delisted.

That is skeleton of how I think the asset exchange will work.

I can develop it fully upon community request.

[ZeroTheGreat]

This similar to merge-mining. Someone can charge extra fees for transactions in parallel chains (dedicated to file storage for example).

Quite intresting.

[landomata]

I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 

Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.

I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.

You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.

It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

[utopianfuture]

We already have btc/ltc/nxt/usd gateway working
No fees at all
Our profits will come from forging revenues - costs

How does this "ipo" using nxt exchange work? Still dont understand it

You can prepare your gateway for an IPO in Nxt asset exchange.