NXT :: descendant of Bitcoin - Updated Information

[msin]

I don't hold any NXT, but I've been following NXT for the past two weeks or so and noticed something I don't really get.

How come there are such large jumps in trading volume for NXT? Last week, there has been a period of it being at around $400,000-ish every day. This morning I'm pretty sure it was in the $30,000 range and now it's at $150,000. For comparison, when NXT was at $400,000, NMC and PPC, the two biggest "secondary" alts, were at $800,000-$900,000 trading volume and the market was quite calm in general due to crash recovery, holidays, etc. Right now, the market is booming and both those have trading volumes well over $3,000,000, with NXT, as mentioned, being way lower than before. Didn't watch other alts too closely, but I guess it's reflected there as well to an extent - at the very least I think it's the case for those coins traded on BTC-e.

I don't have any proof and can't find any historical comprehensive source on altcoin performances right now, so my memory might trick me on this one. Still, though, how is that possible? That, including the whole distribution mode of NXT, kinda scares me to buy in.

My source for data is coinmarketcap.com, by the way.

The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats.  The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading.

[nxtgt]

The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats.  The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading.

Which is why we should move some trading over to Peercover. Not all trading, but some of it, just to test the waters. There aren't any fees and you don't even have to deal with XRP save for the reserve which comes down to less than a dollar's worth. Don't know why people are still hesitant to move over there.

[notsoshifty]

these r the three questions for BCNext:


What are the most inportant 5 things the community should do, in order to properly support nxt in the next 6 months?       40 (20.6%)

why was the initial funding cancelled suddenly with few people?       22 (11.3%)

How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?       20 (10.3%)


Pin

I didn't follow this closely enough at the time. The second and third questions are almost the same so it's a shame they're both there (although I do believe it's a key question for him).

I would have added something like:

 - Knowing what you know now, how would you have developed NXT differently?
 - What are the top 5 risks that NXT faces in the coming months?
 - Do you think the lack of a LOLCODE implementation of NXT is the primary reason for it not yet reaching parity with BTC?

Ah well, too late.

[pinarello]

these r the three questions for BCNext:


What are the most inportant 5 things the community should do, in order to properly support nxt in the next 6 months?       40 (20.6%)

why was the initial funding cancelled suddenly with few people?       22 (11.3%)

How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?       20 (10.3%)


Pin

I didn't follow this closely enough at the time. The second and third questions are almost the same so it's a shame they're both there (although I do believe it's a key question for him).

I would have added something like:

 - Knowing what you know now, how would you have developed NXT differently?
 - What are the top 5 risks that NXT faces in the coming months?
 - Do you think the lack of a LOLCODE implementation of NXT is the primary reason for it not yet reaching parity with BTC?

Ah well, too late.

you had 24h the chance to give your input, republished several times here and on the fora.

maybe when he is in a good mood he will answer some bonus questions who knows.

Pin

[msin]

these r the three questions for BCNext:


What are the most inportant 5 things the community should do, in order to properly support nxt in the next 6 months?       40 (20.6%)

why was the initial funding cancelled suddenly with few people?       22 (11.3%)

How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?       20 (10.3%)


Pin

I didn't follow this closely enough at the time. The second and third questions are almost the same so it's a shame they're both there (although I do believe it's a key question for him).

I would have added something like:

 - Knowing what you know now, how would you have developed NXT differently?
 - What are the top 5 risks that NXT faces in the coming months?
 - Do you think the lack of a LOLCODE implementation of NXT is the primary reason for it not yet reaching parity with BTC?

Ah well, too late.

you had 24h the chance to give your input, republished several times here and on the fora.

maybe when he is in a good mood he will answer some bonus questions who knows.

Pin

Yeah, I voted for questions about improving Nxt and obstacles we face, it's stupid to dwell on scam accusations and initial stakeholder distribution.  The people that voted for those are not Nxt supporters.

[notsoshifty]

Ah well, too late.

you had 24h the chance to give your input, republished several times here and on the fora.

maybe when he is in a good mood he will answer some bonus questions who knows.

Pin

Aye, I'm only complaining at myself

[utopianfuture]

The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats.  The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading.

Which is why we should move some trading over to Peercover. Not all trading, but some of it, just to test the waters. There aren't any fees and you don't even have to deal with XRP save for the reserve which comes down to less than a dollar's worth. Don't know why people are still hesitant to moving over there.

The reason i don't trade there because I don't like NXT-XRP exchange, trading for bitcoin via XRP giving me a headache. And you don' have a BTC-NXT order book.

[Vega]

How come there are such large jumps in trading volume for NXT? Last week, there has been a period of it being at around $400,000-ish every day. This morning I'm pretty sure it was in the $30,000 range and now it's at $150,000.

Before jan 3, there were no trading fees on dgex. That can work wonders for the volume. Just look at BTCChinas volume before and after trading fees were added.

[opticalcarrier]

Let Ripple act as Gateway for Fiat....we use them as middle man.

thats fine for now with peercover, but Id prefer options for direct country's fiat/NXT exchange.  Dont want ripple getting to powerful

[opticalcarrier]

Ermm why is my node uploading way more data than downloading? It is like that constantly.

same for me - looks like the columns were switched, didn't pay attention until now...
anyone else?

Could someone please answer our questions? Is it merely a bug somewhere or it is normal D:U ratio is 1:50+ ?

is your node hallmarked?  If so, what is the balance?  are you running any nodes elsewhere with that hallmark?  Does your nat/router/firewall forward TCP port 7874 to the computer that is running your java instance?

[brooklynbtc]

Hey where can I get 0.5.1? nxt client update checker shows it as 0.5.1 but nothing downloads..

neither the latest or experimental version downloads from 0.5.0

@wesleyH  ideas on this?

[brooklynbtc]

The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats.  The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading.

Which is why we should move some trading over to Peercover. Not all trading, but some of it, just to test the waters. There aren't any fees and you don't even have to deal with XRP save for the reserve which comes down to less than a dollar's worth. Don't know why people are still hesitant to move over there.

people are hesitant because its confusing. we have to think fast to trade and any confusion or multiple calculations makes for a lag and hesitation.

[notsoshifty]

Yeah, I voted for questions about improving Nxt and obstacles we face, it's stupid to dwell on scam accusations and initial stakeholder distribution.  The people that voted for those are not Nxt supporters.

I doubt that's completely true. I am a (small fish) nxt holder and supporter, but I feel the current distribution of nxt is a big problem for nxt. Putting fairness questions aside, it's hard to invest your hard earned satoshis when so few people hold such a high proportion of the nxt and can control the market as they see fit. I'd like answers to questions about the initial distribution question; but I very much doubt I'll be satisfied when I see them.

[landomata]

Let Ripple act as Gateway for Fiat....we use them as middle man.

thats fine for now with peercover, but Id prefer options for direct country's fiat/NXT exchange.  Dont want ripple getting to powerful

they would just be one of many....its competition...there can be X amount of Gateways.

Ripple is not the only one...I was mostly trying to push the idea of integrating other operators to act as gateways who are already up and running.....it would greatly speed things up.

[wesleyh]

Hey where can I get 0.5.1? nxt client update checker shows it as 0.5.1 but nothing downloads..

neither the latest or experimental version downloads from 0.5.0

@wesleyH  ideas on this?

Use http://localhost:7874/update.html instead of https.

[ferment]

I found that I could resync by changing pullThreshhold/pushThreshhold to 0 and deleting *.nxt.

There's still some thing weird about the Threshold settings and not being able to connect to anyone.

[brooklynbtc]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Released version 0.5.1:

http://download.nxtcrypto.org/nxt-client-0.5.1.zip
http://info.nxtcrypto.org/nxt-client-0.5.1.zip


sha256: 4c6ee12c5be7b49e0622afe2b64a0735c1355e58760f525f4a7dc4688882b656


Note the new URL, after this one new releases will be hosted only at
download.nxtcrypto.org instead of info.nxtcrypto.org.

Please test the http://localhost:7874/update.html tool to download and verify
the package.

This is mostly a bugfix release. Change log:

Possible fix for
https://asktom.cf/index.php?topic=397183.msg4343616#msg4343616 ,
needs more testing. Please report any occurencies of negative Recent blocks
and balances, and include the log errors if that happens.

Fixed blacklisting of hallmarked peers.

Accounts with negative balances can't forge.

Improved account public key verification.

Updated update.html to the newest version and changed download url.

Fixed missing transaction id's in My Transactions.


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yeah here it is.
thanks

[gradis]

The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats.  The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading.

Which is why we should move some trading over to Peercover. Not all trading, but some of it, just to test the waters. There aren't any fees and you don't even have to deal with XRP save for the reserve which comes down to less than a dollar's worth. Don't know why people are still hesitant to moving over there.

The reason i don't trade there because I don't like NXT-XRP exchange, trading for bitcoin via XRP giving me a headache. And you don' have a BTC-NXT order book.

well common theme but as I have been following this for ages main gripes are -

Its slow - I read its done manually
Fees - omg what a bastard!
Trust - Has he ripped any one off? No? well put a price on that while u scan about the alt coin landscape.

Obviously he will run away with millions when I post this, but dgex has been about at start and say what you want, slow, useless etc its not really regarded as a scam for your coins.

[brooklynbtc]

Hey where can I get 0.5.1? nxt client update checker shows it as 0.5.1 but nothing downloads..

neither the latest or experimental version downloads from 0.5.0

@wesleyH  ideas on this?

Use http://localhost:7874/update.html instead of https.

AH awesome. can the link at https check and send you to http in the case?

[wesleyh]

Hey where can I get 0.5.1? nxt client update checker shows it as 0.5.1 but nothing downloads..

neither the latest or experimental version downloads from 0.5.0

@wesleyH  ideas on this?

Use http://localhost:7874/update.html instead of https.

AH awesome. can the link at https check and send you to http in the case?

It will be fixed in next version (https download link will be provided, which is the cause of the issue).