What's the difference between BTS and Nxt, with POS, no mining and AngelShares?

[slacking]

Gotta love a company where the founder is responding to forum posts at 2:30 in the morning on Christmas day!

[bytemaster]

Nxt will have the following features:
- Decentralized Asset Exchange / Colored Coins (Starting after block 30000)
     This allows gateways to issue other currencies (fiat or crypto) on the Nxt network.
- Decentralized Marketplace / Auction
- Decentralized Mixing Service
- Encrypted Messaging / Chat
- Decentralized DNS / Alias System (Starting at block 22000)
- Transparent Mining (Partially starting at block 25000)
- DDoS Protection - Project Kharon
- Voting


Messaging / Chat -> Keyhotee
Decentralized Marketplace / Auction -> DomainShares ?
Decentralized DNS / Alias System (Starting at block 22000) -> Keyhotee ID / DomainShares?
Decentralized Mixing Service -> Keyhotee Wallet ?
Decentralized Asset Exchange / Colored Coins (Starting after block 30000)  -> NOT BitAssets
Voting -> VoteShares?

Looks like Nxt plans to build a copycat ecosystem using initial funding of just 21 BTC....

All of that said they are missing many key ingredients (Dividends, BitAssets, Scalability, etc).   

Lets see where things stand in 1 month

[bytemaster]

The reason I buy PTS instead of Mastercoin, Datacoin, Namecoin, Nextcoin or any of the other coins that attempt to leverage the blockchain into non-currency decentralized products is that Invictus seems to have an actual assembled team with bios on their website and they are public and vocal in explaining their forthcoming technologies, both in forums and at Bitcoin conferences. They have a public "face" and aren't just slapping a website up with a few paragraphs about what they are, they have white papers, in-depth discussion on the forums, announcements of new hires for things like Director of Marketing. I was sad to see everybody shit on the angel shares idea so quick since I would love for Invictus to get a fresh infusion of cash to fund operations and hiring. They aren't the only players in the DAC area and it would be a shame if they failed due to funding issues.

According to Invictus official site, AngelShares is coming soon

And to stave off any panic I can tell you this much in advance:

This is all about how BitShares will meet or exceed the terms of the ProtoShares Social Contract which remains unchanged and unchangeable.

1) PTS holders will get 50% stake in BitShares, a 5x gain from the promised PTS Social Contract minimum which remains unchanged. 
2) PTS holders would have been diluted by 50% through original proposed (white paper) BitShare mining in just 6 months, so PTS holders will come out ahead in percentage terms in just a few months.
2a) Angels are unlikely to sell in first few months, where as most miners would have been dumping supply on the market to cover electric costs.
3) PTS holders can potentially increase their stake by being Angels and funding us with PTS as 50% of AngelShares will be allocated to PTS Angels
4) AngelShares are not transferrable and are not a new blockchain, Invictus will not be issuing securities or taking that kind of legal risk.
5) We have a Christmas Gift for all Keyhotee Founders to throw in the mix.
6) If the market doesn't like the plan, then anyone can fork the code and see if a different allocation strategy can gain the network effect faster.
7) Receive your BitShares by simply importing your ProtoShares and Bitcoin wallets.
The allocations mentioned are for BitShares and do not represent a change in the PTS Social Contract. 

Needless to say we took to heart much of the complaints from the original ideas and expect the value of PTS to rise as a consequence of our revised plan.  Though we could be entirely wrong.

Merry Christmas to All!

Anything posted here is just a summary and is subject to change and various details to be documented in our official announcement sometime tomorrow. 

 

[coolspeed]

The reason I buy PTS instead of Mastercoin, Datacoin, Namecoin, Nextcoin or any of the other coins that attempt to leverage the blockchain into non-currency decentralized products is that Invictus seems to have an actual assembled team with bios on their website and they are public and vocal in explaining their forthcoming technologies, both in forums and at Bitcoin conferences. They have a public "face" and aren't just slapping a website up with a few paragraphs about what they are, they have white papers, in-depth discussion on the forums, announcements of new hires for things like Director of Marketing. I was sad to see everybody shit on the angel shares idea so quick since I would love for Invictus to get a fresh infusion of cash to fund operations and hiring. They aren't the only players in the DAC area and it would be a shame if they failed due to funding issues.

According to Invictus official site, AngelShares is coming soon

[slacking]

The reason I buy PTS instead of Mastercoin, Datacoin, Namecoin, Nextcoin or any of the other coins that attempt to leverage the blockchain into non-currency decentralized products is that Invictus seems to have an actual assembled team with bios on their website and they are public and vocal in explaining their forthcoming technologies, both in forums and at Bitcoin conferences. They have a public "face" and aren't just slapping a website up with a few paragraphs about what they are, they have white papers, in-depth discussion on the forums, announcements of new hires for things like Director of Marketing. I was sad to see everybody shit on the angel shares idea so quick since I would love for Invictus to get a fresh infusion of cash to fund operations and hiring. They aren't the only players in the DAC area and it would be a shame if they failed due to funding issues.

[Beetle559]

I'm watching NXT at the moment and it's exciting to see an entirely PoS system, or at least will be when they allow people to see it... Though that's very interesting and may indeed be all it takes to overcome Bitcoin the fact that NXT are pre-mined is a huge hurdle to overcome. I'm not going to dismiss NXT but I'm not going to buy early either.

It's getting hard to keep up with the innovations pouring out of the crypto-financial scene.

[bytemaster]

Only BitAssets which is supposed to be price stable?

I am just amazed to find that they have so much in common.

I am very interested in learning more about Nxt, but their documentation is even harder to find than ours!   

1) They are built on Java which is an inherent liability in my opinion.
2) They plan to open source their development in a couple of weeks
3) They had a Mastercoin style fundraiser
4) They still mine into existence with an entirely Proof-of-Stake system which I have not been able to find solid documentation on.

That said, if someone can explain their feature set, release schedule, etc I would be very interested in keeping a close eye on their developments.

I suppose it's their advantage to be based on java. Crypto-currency is about network effect. And Java has  advantage of developing speed. Java is not critical tech issue except for lack of some newest crypto library. Why do you think it's bad?


Sent from my iPhone using Tapatalk

JAVA has security holes in the runtime layer.   Same reason why I dislike any interpreted wallet.

[coolspeed]

Only BitAssets which is supposed to be price stable?

I am just amazed to find that they have so much in common.

I am very interested in learning more about Nxt, but their documentation is even harder to find than ours!   

1) They are built on Java which is an inherent liability in my opinion.
2) They plan to open source their development in a couple of weeks
3) They had a Mastercoin style fundraiser
4) They still mine into existence with an entirely Proof-of-Stake system which I have not been able to find solid documentation on.

That said, if someone can explain their feature set, release schedule, etc I would be very interested in keeping a close eye on their developments.

I suppose it's their advantage to be based on java. Crypto-currency is about network effect. And Java has  advantage of developing speed. Java is not critical tech issue except for lack of some newest crypto library. Why do you think it's bad?


Sent from my iPhone using Tapatalk

[seraphim]

I don't know a lot, but here's what I understood:

1 - the client is java at the moment, but there are plans for native clients
2 - the people who invested btc (see 3) still discuss how much code should be open sourced at which point of development. they are truely afraid of copycats
3 - something around 70 people invested, max 1 btc per person, a total of 21 btc, before launch. they are called stakeholders and 1 billion nxt have been divided between them
4 - they're not mining, no new coins are issued. it's all proof of stake. generating a block only pays the transaction fees (min. 1 nxt/tx)

The proof of stake system seems to be quite good. they had heavy ddos-attacks yesterday, and at some points there have been several forks of the blockchain. But it all resolved somehow without user interaction.

[bytemaster]

Only BitAssets which is supposed to be price stable?

I am just amazed to find that they have so much in common.

I am very interested in learning more about Nxt, but their documentation is even harder to find than ours!   

1) They are built on Java which is an inherent liability in my opinion.
2) They plan to open source their development in a couple of weeks
3) They had a Mastercoin style fundraiser
4) They still mine into existence with an entirely Proof-of-Stake system which I have not been able to find solid documentation on.

That said, if someone can explain their feature set, release schedule, etc I would be very interested in keeping a close eye on their developments.

[arcke]

For one part and this matters to me personally a lot the biggest difference up until now is that bitshares has fully open development and nxt is closed development. I am not sure about the motivation to keep nxt development closed, but still I have more faith in open development (open repository, public can see all commits) as a business model than any weaker forms (closed development, release after development and the worst, dont release code just binaries).

[coolspeed]

Only BitAssets which is supposed to be price stable?

I am just amazed to find that they have so much in common.