gimre
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Activity: 866
Merit: 1002
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February 01, 2014, 03:33:26 PM |
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Could anybody here explain what could be done with a perfectly working asset exchange? Some concrete examples? I still dont get the idea
Selling games for example |
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bidji29
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February 01, 2014, 03:36:38 PM |
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And cracked by Doctor Evil, no less!  Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known... Edit: Is it a coincidence that my contract is being over in April? It was a bright cold day in April, and the clocks were striking thirteen. Maybe BCnext will reveal his identity at thirteen o'clock on April 1st! |
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utopianfuture
Sr. Member
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Activity: 602
Merit: 268
Internet of Value
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February 01, 2014, 03:37:16 PM |
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whats the odds we beat master coin to be the first coin to have a distributed exchange? that would be a huge boost for nxt if it can be done?
99% Even if Nxt does beat others to having an Asset Exchange I wouldn't really put that much expectation in said *feature*. It will most likely be used by scammers to relieve people of their investments as has been seen many times with such attempts as GLBSE and the likes. I very much doubt I would ever invest in any sort of "share" in a "digital corporation" which would presumably be anonymous and able to simply run off without a trace at any time (although I would be pretty sure that there are 100+ new "pirateat40" types just waiting for this to be ready). Personally 1000 TPS is about 1000x more interesting to me than a P2P Asset Registry (which will not be recognised by law and therefore pretty much pointless). In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future. That is a much bigger game we are after here. |
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Come-from-Beyond
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Activity: 2142
Merit: 1010
Newbie
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February 01, 2014, 03:37:42 PM |
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Maybe BCnext will reveal his identity at thirteen o'clock on April 1st!
Now noone could prove that he is real BCNext.  |
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NxtChg
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February 01, 2014, 03:38:03 PM |
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And cracked by Doctor Evil, no less! Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known... Edit: Is it a coincidence that my contract is being over in April? It was a bright cold day in April, and the clocks were striking thirteen. How the hell?! Was it a dictionary attack too?  |
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SkillRoad
Member
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Activity: 112
Merit: 10
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February 01, 2014, 03:38:06 PM |
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And cracked by Doctor Evil, no less! Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known... Edit: Is it a coincidence that my contract is being over in April? It was a bright cold day in April, and the clocks were striking thirteen. Maybe BCnext will reveal his identity at thirteen o'clock on April 1st! Yes exactly |
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bidji29
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February 01, 2014, 03:40:07 PM |
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Maybe BCnext will reveal his identity at thirteen o'clock on April 1st!
Now noone could prove that he is real BCNext. There is still the BCnext bitcointalk account. Apart from you and him, who knows the password? |
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ImmortAlex
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February 01, 2014, 03:43:28 PM |
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And cracked by Doctor Evil, no less! Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known... Edit: Is it a coincidence that my contract is being over in April? It was a bright cold day in April, and the clocks were striking thirteen. How the hell?! Was it a dictionary attack too? That's THE example why noone should use well-known quotes as password! |
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Come-from-Beyond
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Activity: 2142
Merit: 1010
Newbie
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February 01, 2014, 03:44:53 PM |
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There is still the BCnext bitcointalk account.
Apart from you and him, who knows the password?
Theymos could post using that account, maybe some other admins. |
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ImmortAlex
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February 01, 2014, 03:45:02 PM |
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Btw, why NRS shows genesis account's balance as -5 ?
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CIYAM
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Activity: 1890
Merit: 1131
Ian Knowles - CIYAM Lead Developer
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February 01, 2014, 03:45:11 PM |
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In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future.
That is simply not going to work - the laws about public companies are very strict and very different in every single country (btw - stop thinking that the US is all that matters, please). So thinking that some sort of anonymous corporation would be covered by *any* specific countries laws just doesn't make sense (as they are contradictory). To have a corporation *work* in a decentralised manner means that lawyers and laws *must not apply*. It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this). |
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martismartis
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Activity: 1161
Merit: 1005
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February 01, 2014, 03:49:03 PM |
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Has anyone tried to install NRS on LG Smart TV set?
I have one. How do i go about installing I asked the same question. Now I'm in stage to install and run Linux on Android stick. Had a lot of problems to root the stick, but finally i succeeded. Now is the Linux headache. |
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NxtChg
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February 01, 2014, 03:49:48 PM |
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How the hell?! Was it a dictionary attack too? That's THE example why noone should use well-known quotes as password! Ok, I guess if you consider that it's a crypto community and that's the very first line of Orwell's most popular book, it becomes plausible... On the other hand, doctorevil wrote his program in Java - a strange choice for password cracking tool - and had only 2 posts before making his grand announcement, looks a bit suspicious... |
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FrictionlessCoin
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Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
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February 01, 2014, 03:51:47 PM |
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Btw, why NRS shows genesis account's balance as -5 ?
Is that for real? The genesis address/account got cracked? What are the implications? Anyone can create and assign Nxt to himself? |
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ImmortAlex
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February 01, 2014, 03:53:42 PM |
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How the hell?! Was it a dictionary attack too? That's THE example why noone should use well-known quotes as password! Ok, I guess if you consider that it's a crypto community and that's the very first line of Orwell's most popular book, it becomes plausible... Btw, do we need fresh "facepalm" picture?  |
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Come-from-Beyond
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Activity: 2142
Merit: 1010
Newbie
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February 01, 2014, 03:54:03 PM |
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Btw, why NRS shows genesis account's balance as -5 ?
Is that for real? The genesis address/account got cracked? What are the implications? Anyone can create and assign Nxt to himself? Why not? Just do it. |
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ImmortAlex
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February 01, 2014, 03:54:41 PM |
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Btw, why NRS shows genesis account's balance as -5 ?
Is that for real? The genesis address/account got cracked? What are the implications? Anyone can create and assign Nxt to himself? No. You can't send coins from account with non-positive balance. |
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utopianfuture
Sr. Member
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Activity: 602
Merit: 268
Internet of Value
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February 01, 2014, 03:55:18 PM |
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In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future.
That is simply not going to work - the laws about public companies are very strict and very different in every single country (btw - stop thinking that the US is all that matters, please). So thinking that some sort of anonymous corporation would be covered by *any* specific countries laws just doesn't make sense (as they are contradictory). To have a corporation *work* in a decentralised manner means that lawyers and laws *must not apply*. It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this). I am not talking about the autonomous corporation which sounds very futuristic but ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally. Now talking about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList. In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundraising and stock exchange is pretty much parallel to process that Bitcoin revolutionize the concept of currency and payment. |
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FrictionlessCoin
Legendary
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Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
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February 01, 2014, 03:59:29 PM |
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Btw, why NRS shows genesis account's balance as -5 ?
Is that for real? The genesis address/account got cracked? What are the implications? Anyone can create and assign Nxt to himself? No. You can't send coins from account with non-positive balance. Am I seeing this correctly? A lot of transactions of zero value are coming out. Is that going to blow out the memory of Nxt nodes? |
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