"It is complex and intimidating to me, but the more i toy with it, the neater it seems."

Me too, Sirsmokes!! I am not a secret Nxt troll -- its wallet is a means to an end for us -- but if we are gonna be experts in our field, we gotta know a little about a lot, and coloured coins is one of those littles.

Bitcoin Charlie, "If there are no new Nxt to be mined, how do you validate the blockchain and secure the network?

Nxt is a pure Proof-of-Stake (PoS) currency. Users validate the blockchain and secure the network by running a light weight client on any computing device (even one that used to run Windows XP). For doing this users are rewarded with Nxt coin that is collected from transaction fees."

Wiki on Nxt

We don't need to forge for the DVC Project. I'll ask Ian if he forges.

Well, I'll wait my hurry. You guys puddle about a bit with passing Nxtty to and fro. We should have DVC on Un-Ex this week!

m

Is there a difference between Nxtty and Nxt(Coin?)?  What is going on around here?

...So Nxxttycoins are a 4th crypto, like DVC that's on NXT wallets, and we haven't actually started Phase 2, yet?

We are just testing with Nexxtttttyyyyycoins?

Hey, Benefactor. Correct: nxttycoin is our test coin; and both Nxtty and DVC (and many more) ‘live’ on the Nxt wallet.

So, as people posted their Nxt addresses (and ‘public keys’), I sent them, from my stock, as a gift, fifty Nxt and five thou Nxtty.

And have we started Phase Two?

Hedges are unpacked. And Bitcoin Charlie has graciously agreed to hold my ten ounces until we figure out their best use.

I have a big paper chart, B. with the statuses of all those interested. We’ve had far more interest than the Hedges!

The chart shows whether a person is a TT, whether they’ve got an Nxt wallet set up, whether they’ve been sent Nxt and Nxtty, whether they’ve acknowledged receipt of those, whether they’ve managed to send a message with the Nxt message system, whether they’re ‘verified,’ whether they’ve managed to send and receive Nxtty -- several people have got this far. At least five have 'live' Nxt wallets.

Ian is going to post, introducing himself as Interim Bursar (and as an Abundance of Caution, I shan’t join the fray for a couple of weeks yet – but I have figured out how to post the picture of my bullion! Ian will also recluse for some time.)

There is a link to Theory of Hedges here somewhere here.

I have set aside a fund of point two five btc to buy and sell coin to and from those who wanna get a TT Rating, and then work their way up to verification and then getting DVC.

DVC prices have been posted for three days running on Un-Ex.

We are close close close to throwin’ the switch, though there is a lot of theory that we still all need to hash out – like shall we keep the ‘excess’ DVC in public escrow, in case we want to use them later, or should be burn them?

I am not in charge, and look forward to all the help I can get.

M

I accept Sabretooth 001

.0375 is five times .0075. That is a fair price.

You send btc -- my address is below. PM me your Uno address. Me go beddy byes. Your Uno will turn up in eight hours.

Mark (IndiaMikeZulu), Australia

Hi guys,

Just a quick note to mention I'm in the logistical position of bursar for the DVCs here.

During this phase I pretty much cant hold DVC because conflict of interest and accounting issues. I'm ok with this since its the project I'm interested in more than the hedges themselves. I have relatively small holdings and will benefit more from community growth and involvement than being able to hawk my UNO back and forth.

I'm going wait till the distribution is done and more project/community details are decided before I join the holding pool.

At that point I will shift the DVC to a mutually agreed upon 'state/account' either for additional distribution with growth or proof of burn. Not positive proof of burn woks with NXT but a solution will be found.

Regards Ian.

Are you talking about the one that you need for the first transaction? My public key was listed in an alert note at the top of the NXT screen.

Sabretooth Trade 001 complete

IMZ-Mark:  Hey!  You never publicly acknowledged that you got the 100 UNO 'Abundance of Caution' back from me.

That's 2 big, public 100-UNO transactions I've handled in good faith, (plus hundreds in in-house transactions) - I should have my 3rd star by now!!  I probably have more transactions than anyone else, too!

(That's all I ever want, just 3 stars!)

There are 500 non decimal divisible DVCs.

We expect to use perhaps 100 - 200 at tops.

If I was to speculate a reason for holding addition DVCs in 'community bank', it would be to embrace commercial partners into the Trusted Trader arena.

i.e. To garner a relationship between the DVC core community group and a Bullion Supplier.
 
These commercial invitations would require a single point of contact (to establish the peer to peer trust) and a benefit to the community. As much as inviting Dildo and Co. to the UNO arena would look great in a press release it isn't the kind of merchant facility I can see being used within the community. Not to be harsh but waste not want not. Nothing superficial or 'high five us' is going to sustain any long term value for a community of this nature.

It is also worth considering: Within this community are technically apt service people. I would happily accept UNO/DVCs for any services I can provide to the community and I would happily pay UNO/DVCs for any services within the community I might need. We don't want to invite businesses interests into the community at the expense of 'real people' traders. I would wager we have web developers, technicians, coders and possibly a few specialists in said fields within this community.

I think at the stage where the core community begins to bulge we should consider extrapolating the project to prevent any easy to target points of centralization.

Imagine I had spent all this time working with the community acting as the logistics center and ran away with... a few hundred bucks of DVCs. Never going to happen.

However if the project explodes, that point of centralization becomes far more attractive target. Fewer coins, smaller tighter communities and a peer to peer level of appreciation respect and trust can supersede a lot of the potential for wrong doing however at some point there will always be enough profit to be gained for someone to do the legwork.

We can avoid that with small allocations and small communities. Hence 500 DVCs and an honest and open understanding that it is unlikely the current iteration of DVCs (NXT Asset) will be with us in years to come. It is an initial tool to facilitate the project (not a project to justify the use of a tool Which is something I see in internet communities).

My sincerest hope is that in the years to come as our community develops and additional projects spawn from this one, there will be the desire and obvious need to build our own tools from scratch, for the community by the community.