How long do we have to redeem the tokens? What do we enter for the NEM address is it just a alias or random characters?
about 1 month You can't enter anything yet because we haven't provided a way to create address and key yet. Where did you even want to enter it ? |
|
|
|
As of right now 303 registered. Not too bad for 2,5 days  |
|
|
|
|
I'm not entirely convinced a fully connected network of that size will work (latency, varying hardware...) but it's most defintely a very interesting approach.
Looking forward to see how this works out when it's finished !
|
|
|
|
are you done sending pat? havent received my token sofar.
Send me a pm so I have all non receivers in one spot. i'm an idiot actually received it and didn't see it thanks!! Glad to hear it |
|
|
|
Now we're getting somewhere So what you're saying is because node.js is used if a node makes a tx all other nodes know about it immediately and therefore it's not possible that one node knows about a tx that another doesn't know about ? Yes, the transaction is simultaneously sent to all peers immediately even if You have 10000 peers. When a transaction arrives at the client NODE , it synchronizes with the main peers and checks the synchronization, so on a circle. That assumption explains everything. Should have been in the whitepaper  That'll put quite some network load on eatch node though once the network grows. |
|
|
|
are you done sending pat? havent received my token sofar.
Send me a pm so I have all non receivers in one spot. |
|
|
|
I'll try to explain my worries one more time in more detail and without evil nodes.
1 have 10 k NODES.
I send all my nodes in tx TX1 to recepient R1 and again in TX2 to R2.
To nodes that only know of TX1 it will look legit and they will confirm it. Same is true for TX2
So if TX1 gets 3 confirmations by nodes a,b,c and TX2 get's confirmations by nodes d,e,f you'll have two competing blocks which means I can't consider a transaction confirmed until it's in a block which means there is no such thing as INSTANT transactions.
3 confirmations to a block also seems awfully low since in a big network with say 1000 nodes it won't be a problem at all to spread even 3 tx to different parts of the network and get those 3 confirmations from legit nodes since they don't know about the 2 other tx.
Technology Node.js withstand more than 100,000 connections per second. You can not do this operation. The transaction is sent to the network on startup peers and secondary peers, the network is synchronized continuously. All transactions are collected confirmation hanging in the minds of all clients simultaneously. You do not get to send the transaction to only one part of the network, and the second transaction to another part of the network. Let's say you have sent 2 transaction for the full amount, and so the first transaction will receive a confirmation, the second did not receive a confirmation and it will be removed from the system. Now we're getting somewhere So what you're saying is because node.js is used if a node makes a tx all other nodes know about it immediately and therefore it's not possible that one node knows about a tx that another doesn't know about ? |
|
|
|
I know it won't get into the block. I'm not saying a double spend is possible. I'm saying one can't trust a tx unless it's in a block because there might be a double-spend somewhere floating around the network. That's how almost all cryptos operate. What I don't see is how it enables instant transactions.
Instant transaction is to collect quick confirmation of correct nodes. To speak properly instant confirmation. If there are at least 3 confirmed (in the future we will raise up to 6 confirmation), it generates a block node I'll try to explain my worries one more time in more detail and without evil nodes. 1 have 10 k NODES. I send all my nodes in tx TX1 to recepient R1 and again in TX2 to R2. To nodes that only know of TX1 it will look legit and they will confirm it. Same is true for TX2 So if TX1 gets 3 confirmations by nodes a,b,c and TX2 get's confirmations by nodes d,e,f you'll have two competing blocks which means I can't consider a transaction confirmed until it's in a block which means there is no such thing as INSTANT transactions. 3 confirmations to a block also seems awfully low since in a big network with say 1000 nodes it won't be a problem at all to spread even 3 tx to different parts of the network and get those 3 confirmations from legit nodes since they don't know about the 2 other tx. |
|
|
|
Got it - not a frequent visitor to the thread and tend to focus on your posts. Am I correct to understand that Step 1 and Step 2 are the only steps we are to do right now (token registration only) and that the NEM wallets (final, not alpha) are not yet available for us to use NEM addresses? Second question is - from a non-techie perspective, what's the purpose of Step 2? Yes, step 3 is not possible yet. As I said earlier on this page: It's to see how many unclaimed but more importantly to provide people with a way to decouple their stake from btt. If you record the token somewhere else and delete the pm you are completely independent of btt from that point forward. Considering all the scams and lost passwords lately I think this is absolutely crucial to have as soon as possible even if it means splitting the reigstration into two parts. |
|
|
|
How are "correct" nodes determined ? Like I said individually my evil nodes are sending valid txs so they aren't easily detected as evil. I think we're talking at cross-purposes. I'll just wait and see what happens. Thanks for taking the time and trying to explain You will not be able to cheat the system, the correct node will not allow your transaction to confirm only after which the transaction is verified added confirmation at this stage wrong transaction is removed from the network When you send your transaction 100 confirmations in the correct network, all nodes are rejected her and she will be removed from the network. It will not reach that stage to get into the block I know it won't get into the block. I'm not saying a double spend is possible. I'm saying one can't trust a tx unless it's in a block because there might be a double-spend somewhere floating around the network. That's how almost all cryptos operate. What I don't see is how it enables instant transactions. |
|
|
|
bumping this for visability. ...
Pretty tiring those PMs right ? not too bad, maybe for those in the old grumps club lol Well I know your age and we're not that far apart |
|
|
|
bumping this for visability. ...
Pretty tiring those PMs right ? |
|
|
|
Exactly so I have to wait for a block to know if a tx is valid or not. Right ?
No, Your transaction will not even collect 1 confirmation from the correct nodes What would it hit the block need minimmum 3 confirmation of correct nodes. Before the transaction will receive a confirmation with the correct node, it first checks for validity How are "correct" nodes determined ? Like I said individually my evil nodes are sending valid txs so they aren't easily detected as evil. I think we're talking at cross-purposes. I'll just wait and see what happens. Thanks for taking the time and trying to explain |
|
|
|
I click register, it says registered, and thats it? I thought I will get some kind of registered link or some password or some kind. This is just to see how many are active?
It's to see how many unclaimed but more importantly to provide people with a way to decouple their stake from btt. If you record the token somewhere else and delete the pm you are completely independent of btt from that point forward. Considering all the scams and lost passwords lately I think this is absolutely crucial to have as soon as possible even if it means splitting the reigstration into two parts. received the token! For the second step i need install the NEM Client, or it is possible to sent the NEM to a Exchange? This because i have no private pc/mac to install the Client. I believe (and someone please correct me if I'm wrong) that what will happen is you will end up getting a private key for an address containing your NEM which you can import into the client at any time. So, even if you do not have the ability to install the client right now, you can just hold on to that private key until you can figure out what to do with the coins. If you do not plan on using them or selling them any time soon, I assume you could just keep the private key in cold storage and decide what to do with it later. I could be wrong though, but I am pretty sure that is how the distribution is going to work. I think you are wrong! 1. Navigate to https://chain.nem.ninja/stakes/ in your web browser. 2. Enter the secret token you received in Step One. 3. Enter your NEM address. (NOT your NEM Alpha testnet address!) 4. Click the (Submit) button. Step 3. Enter your NEM address (where i should take my NEM address? She's not wrong. There is no way for you to create an address yet - that will be handled in another step and we'll provide a way to create the address. For now registering a stake on the page like you did is all you need to do. When creating an address you will get a private key and an address and you can open a wallet with that key whenever you want. You can't have it send to an exchange. |
|
|
|
I click register, it says registered, and thats it? I thought I will get some kind of registered link or some password or some kind. This is just to see how many are active?
It's to see how many unclaimed but more importantly to provide people with a way to decouple their stake from btt. If you record the token somewhere else and delete the pm you are completely independent of btt from that point forward. Considering all the scams and lost passwords lately I think this is absolutely crucial to have as soon as possible even if it means splitting the reigstration into two parts. |
|
|
|
I will try to setup a site this weekend that will show all registered users. I encourage everyone to check if their name is there or not.
Since all PMs were sent out automatically and BTT isn't exactly the safest place on earth I think everyone should take the time to make sure.
Better safe than sorry If you're having trouble registering please include your token in the pm. Saves time.
|
|
|
|
Do we have to claim our stakes now?
I thought we would be notified via PM when official NEM distribution begins?
good question! what happened if i wait until the official launch? Tokens will be sent now. Please take a look at this: https://bitcointalk.org/index.php?topic=654845.msg9082423#msg9082423In any case, we will also be sending out the NEM newsletter in which everyone will receive the info, as well as communicating the message across all our channels. yep, i know. We just wonder if we can wait to register our stake... There is one month time in which you can register your stake. Anyway, why would you want to wait? thx! just because there is no final version yet..  Official version of what ? of NEM, off course! If you wait for an "official" version then registration will be over. Obviously the whole registration process needs to be completed before launch so all stakeholders can be in NEMESIS. |
|
|
|
That is only true if the node already knows about both transactions. As a single tx they are valid only when you know about both of them they become a double-spend. So if i sent my double spend directly to the two recipients with a few confirmations it'll look legit to them. Only when the block comes out one of them will get rejected.
If every broadcast from a node could be considered a confirmation than any crypto woul have instant tx. It doesn't matter that every node does it's own validation because not a single node but the entire network needs to agree on validity.
Unless I'm majorly missing something.
Confirmation is necessary for generate a block, You don't know who will generate the block. Your transaction will not be able to collect the correct confirmation, because the Node which generates the blocks makes a first check on the validity of the transaction and then on confirmation number. The transaction will be sent to the correct nodes until you collect the necessary number confirmation for block generation Exactly so I have to wait for a block to know if a tx is valid or not. Right ? |
|
|
|
|
Show Posts
