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  • Topics: 216
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  • Re: NXT enthusiast Marc De Mesel LTBc buyout offer declined.

    In the background, we're having a productive conversation with the nxt folks about tokenly, heres the most recent

    Hello all,

    I am a developer in the nxt space and have been asked to help out with coordinating what can be done with this.

    I've looked around at tokenly and gotten the basics of what it does. I believe nxt could assist in a few places here.

    An asset vending machine system shouldn't be too difficult to implement inside nxt. Because of how nxt is set up, we are able to build and send transactions without even needing to run a node on the server. A system could be made to create and sign transaction bytes within PHP without an nxt node running. The transaction can send any type of asset, MS token, nxt, or message that's needed.

    Also in the way of tokens, I suggest the Monetary System for setting up a token system. I am aware that LTB coin currently uses counterparty as its platform, but should you decide to switch over, you create an MS currency, then map the nxt addresses to throwaway couterparty addresses. The user would generate their own nxt address, then input the address into a page, the page would then calculate a burn address that matches the nxt address inputted, then the page can do a check on what amounts of LTB are in what burn addresses and credit the nxt accounts the same amount.

    Another useful nxt feature to use with this would be the token. Nxt Tokens are small strings of characters that can be used to prove the ownership of an account. Say that you want to allow a user into a certain page only if they have x amount of LTB, then you would tell them to generate a token for the pages name "" and the wallet will print out 160 characters that have a signature of the account used as well as a timestamp. Then the user enters their token and it is decoded to tell you the account of the user and the time it was created, after that you can make an api request to check the balance and let the user in if it greater than x.

    Another possibility is integrating the LTB blogging pages with nxt aliases. Nxt aliases act as a DNS system on top of the blockchain, with them we can store up to 1000 bytes of data that directly refers to a unique string of characters. My idea is that each blog post would have a unique alias associated with it, the alias could hold link information, author data, as well as a sha256 hash of the content of the blog post, so that paranoid people could verify that the text they are reading is untampered with. This also has a timestamp system, because of the time that the alias enters the blockchain with the hash, it can be cryptographically proven that the blog post existed at a specific time. This can be used to settle any disputes that may arise.

    On top of that, the way the nxt client is created makes it quite extensible, because it runs on a Javascript layer on top of Java API requests, anyone is able to modify a client to fit their needs. Its possible to make a LTB version of the nxt client that can easily show LTB MS balances and token creation, as well as load asynchronously with the LTB website, so blog posts could be read and tipped from inside a wallet.

  • Re: Correction to website and the end of the Auction paradigm

    @pooktwo Sounds great, just to clarify about the Auction system as in the title it says "The end of the auction paradigm", you are not ending the auction program correct? Or are you replacing it with the vending machine?

    We're ending the exclusively booking through tokens sold via the auction platform.

    The last time we addressed this issue plublicly, the statement was this.

    "Effective July 1st, 2014, the Let’s Talk Bitcoin! show, and the LTB network will only sell sponsorship space (on the web properties) or airtime (on the show) for LTBcoin, to the highest bidder, in LTBcoin, at our regular auction events."

    The auction platform isn't going away and is on the roadmap for an upgrade in the next six months.

  • Correction to website and the end of the Auction paradigm

    Hey everybody,

    Two things:

    1 - We're ending our policy of selling sponsorships via SPONSOR token only and are moving to a policy that allows for a variety of tokens to be accepted, with preferential rates being given to the more network-y tokens like LTBCOIN and SPONSOR, etc. You can find the new multi-token system here and if you'd like to list something of your own for redemption in the tokens of your choice we'll be offering a tool for that soon.

    2 - it came to my attention yesterday that the copy on the introductory website makes a flat statement.

    "The LTB Network will not sell LTBCOIN"

    This is an incorrect statement. The explainer page is the only place it appears. You can take a look through the linked documents on that site, you won't find it in there because it wasn't in the spec.

    This wound up on the website because at the launch of LTBCOIN we did the initial 10% distribution of coins to people who had created content for LTB over the first year, and since I was the creator and primary content creator for most of that time I wound up receiving a very large amount.

    I personally made a commitment in the various recorded meetings we had on the topic that I would not sell any of those LTBCOIN because the market would be too new and I wanted contributors who had created for us and recieved some LTBCOIN to have an opportunity to sell their tokens when the supply was limited and interest was high.

    It was mistakenly put on the website by the volunteer who put together the explainer page as an unsuccessful interpretation of that commitment. The intent of this commitment was not to hobble the LTB network in its ability to be a participant in the ecosystem of LTBCOIN, it was to protect early content creators who might not want to hold for the long term .
    About nine months have passed since then and we're now rolling out a variety of tools that add utility and value to ltbcoin as well as any other token built on counterparty that wants to follow our trail. We're definitely going to be offering people easy ways to exchange their bitcoin, SJCX, SWARM and all the other interesting tokens out there for LTBCOIN at whatever the current market rate is, without registering for an account or having to do anything more complicated than send a transaction. I've been doing tutorial videos explaining these new tools and I keep being reminded of what an inconvenience it is having to do your trading through a centralized exchange. Automated vending machines are the solution, and we've already built them - The prototype will be rolling out Saturday.

    The new language on the explainer site now reads:

    ", the Let’s Talk Bitcoin! show, and the LTB network will sell sponsorship space (on the web properties) or airtime (on the show) for LTBcoin at a discount relative to the retail price in BTC."

    That discount will be change over time, initially it will be set at 40% cheaper relative to bitcoin. Other ACTs on the network will choose their own discount %.

    I'm happy to answer any questions on either of these issues, thank you for your time.

  • Re: A World Changing Tip - my BITCOIN comic strip

    keep it up :)

  • Re: A World Changing Tip - my BITCOIN comic strip

    Welcome to the community ahmadmanga ;) Are you illustrating your journey into bitcoin or drawing fiction?

  • Re: the price is interesting on poloniex

    fair warning, we're about to roll out a variety of uses that stack up LTBCOIN as a purchasing option against bitcoin, and the value reflected is an order of magnitude higher than the current market value.

    This is a test of what I call "attractor pegs", I believe if the stuff we offer is desirable, people will sometimes go for the savings and as a result create a lot of recurring demand for LTBCOIN on the markets for people who want to use them with our sponsorship service.

    Not quite ready yet, but soon.

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