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1841  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 03:56:20 PM

The 3 gateway servers that all must agree on transactions.  The 3 servers will be operated by 3 separate entity to ensure security and prevent hacks and Mtgox like situations.

Only 3? I thought everybody could join.

But who will be these "entities"?? Could be Chuck, You and me? I dont get it 100%

Hmmm, I do not know. jl777 will hand-choose them. Smiley

I believe initially it will be setup to have 3 gateways that all must agree on each transaction.  I'm not sure if James plans to add several more gateways, but at this point there will be 3, which is the minimum.  I'm sure others can operate their own gateway/server, but for now James/Nxtservices controls the 3 so he can fix bug issues quickly.

James plans to hand one over to Bithaus when the time comes. I think he plans for every major Nxt business to run one, maybe DGEX could be next.
1842  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Cinni | PoS | First EM Coin | 100% True Anonymity | No premine | No IPO on: June 13, 2014, 02:45:40 PM
Interesting, how does the bucket system work?
1843  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Cinni | PoS |First EM Coin| 100% True Anonymity | No premine | No IPO on: June 13, 2014, 02:30:07 PM
What does the EM in "First EM Coin" stand for?
Encrypted Messaging

It is a good feature but I'm afraid Cinni isn't the first. As mentioned previously, Offspring has had encrypted messaging since 31st March. See the github repository here: https://github.com/incentivetoken/offspring/releases

You can also check the message explorer to see the encrypted messages being sent since then.

Cinni is actually the first POS coin to bring such a feature, besides who cares about the other coin and its older features and bugger all trade volume..... even cinni with lower market cap has more trade volume then the "other" coin...... Cinni is far superiour Cheesy

What 'other' coin are you referring to? From what you have said, it is a different to the one that runs Offspring.
1844  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Cinni | PoS |First EM Coin| 100% True Anonymity | No premine | No IPO on: June 13, 2014, 02:27:59 PM
What does the EM in "First EM Coin" stand for?
Encrypted Messaging

It is a good feature but I'm afraid Cinni isn't the first. As mentioned previously, Offspring has had encrypted messaging since 31st March. See the github repository here: https://github.com/incentivetoken/offspring/releases

You can also check the message explorer to see the encrypted messages being sent since then.
on cinni's encrypted messaging platform you can send anon encrypted messages

Cinni also doesn't use the NXT asset exchange, or the blockchain to send messages, meaning the messages can't be traced back to anyone Smiley
Also we dont keep a record of messages, they are just there for 48 hours then gone.

You do have the ability to keep ur messages in the inbox and outbox db's, these are separate to the message bucket dbs, and you can also export them.

Where are the messages stored and transferred if not through the blockchain?
1845  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Cinni | PoS |First EM Coin| 100% True Anonymity | No premine | No IPO on: June 13, 2014, 01:48:55 PM
What does the EM in "First EM Coin" stand for?
Encrypted Messaging

It is a good feature but I'm afraid Cinni isn't the first. As mentioned previously, Offspring has had encrypted messaging since 31st March. See the github repository here: https://github.com/incentivetoken/offspring/releases

You can also check the message explorer to see the encrypted messages being sent since then.
1846  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 01:41:59 PM
ok, no problem. One last question, for curiosity Grin Strange about the effective balance, which version of the software were you using?

I take it the blockchain was up to date to allow the transaction... I'll have to look at the transaction IDs closer later on.
1847  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Cinni | PoS |First EM Coin| 100% True Anonymity | No premine | No IPO on: June 13, 2014, 01:35:38 PM
What does the EM in "First EM Coin" stand for?
1848  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Qora | Released 16 May | 100% POS | New Source on: June 13, 2014, 01:33:31 PM

Healthy interest building around Qora... questions being asked in a respectful manner (so far)... I would leave the answers to qora though folks!  Wink

https://bitcointalk.org/index.php?topic=650381.0

https://bitcointalk.org/index.php?topic=650876.0
The nxt guys are really disgusting Angry Angry

How so?
1849  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 01:25:41 PM
I'll try and find the original quote. It was better and probably more accurate, mine is paraphrased  Grin

Testers now, lots of them  Grin

I don't think it will need much promoting. Mention mtgox/sharexcoin etc etc can't happen and let people have one go and they will be hooked Cheesy

Then, with Monetary System, people will be able to build coins (POW or POS) on top of Nxt and then not only will it be decentralised, their coin will be secured by the Nxt blockchain so even POW coins (assuming anyone is still interested in them) can't be attacked by big pools with a lot of power. Good ideas won't be killed at birth so let the good times roll  Grin
1850  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 01:07:28 PM
jl777 discussed the way it is setup somewhere but I can find it. It went something like this (my words from memory, not his Grin ):

"As there is no central clearing there is no spotlight continuously shining on a nice vault to attack. Instead getting into one server would be time consuming and very difficult, like looking for a penny in the desert. It you did manage to find one, it would actually be a piece of a penny with that you couldn't spend until you found the other piece(s) and these have been scattered randomly on the ocean floor".

He has set it up to make it not even worth trying to attack. Sounds like you are a better judge than me as to how successful it will be  Grin
1851  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 12:58:19 PM

... (effective balance was 0 despite having NXT)...

Relating to this, your effective balance can be thought of as your forging balance. To forge, you need to wait for 1440 confirmations (roughly 1.5 days).

Until you get 1440 confirmations, effective balance remains at 0 no matter how many Nxt you have in the account. Had you just moved it when you saw this?

(I could probably check most of this on the blockchain but can't right now)
1852  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 12:48:26 PM
I would rather not share my 'passphrase' or unique key or whatever you want to call it because it has elements of a common password that I use for low security purposes (i.e. one-use account on random forums). It was admittedly a meager 21 chars including dictionary words and spaces.. Much better than a laymans password but not the level of security I usually use (thus why it was a depreciated account/wallet). I haven't been in that account for about 4-5 months and was just using it to bounce my nxt to see if that would get it properly recognized (effective balance was 0 despite having NXT).

*snip*

In this case the theif used NXT-X6AP-V3S7-RBHA-GQW8Z, which I'm sure will see no activity for some time before it goes through a wash.. I remember from the get-go there were countless issues with theft, looks like this has gotten worse. Enough to scare me off NXT. GL.

Yes, there are Bots monitoring the blockchain for transactions related to accounts with weak passwords.

****
Bots

A Bot in general is an automated computer program. In the case of Nxt, the bots have been programmed to find the account numbers to all accounts associated with Weak Passphrases (such as ‘Dog’, ‘12345’ and ‘opensesame’). They continuously scan the Blockchain looking for Transactions happening in these accounts. Once a Transaction is detected, the Bots then automatically log into the account and move the NXT to an account they control. This often only takes a matter of minutes from the transaction into the account and nothing can be done to retrieve the stolen NXT. It is therefore VERY IMPORTANT to use a Strong Passphrase to ensure that your NXT is not stolen. Also see Brainwallet.

****
Source: Nxt Glossary >>> https://wiki.nxtcrypto.org/wiki/Glossary


Allowing people to use weak passwords was a flaw, client's now create strong diceware passwords for users (you can still enter any password you want but there are extra steps). Sorry for you loss, I'll send you 250 NXT when I get home if no one else has done it before me, just post the address you want it to go to.

1853  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 12:38:40 PM
Can I be clear here?  Is this like a Mt. Gox that I don't have to trust with my money?  Is there anyway I could be using this service and get all my coins stolen?  Maybe not in the same way Gox stole, but maybe in a different way?  

Yes, it is happening. NxtPrivacy comes later  Grin

NxtServices, which Multigateway forms a part, basically links you BTC and Nxt addresses together. You don't store your coins on Multigateway like you did with MTGox.

It is almost trustless at the moment based on three multigateway servers agreeing with each other before allowing the cross chain transaction. jl777 admins 2 of them and bithaus will admin the third, the idea is that each new prominent business will admin another server. jl777 originally planned 100 servers but there will be a bootstrapping phase to get up to this. You would then have to compromise them all to crack multigateway.

This is my understanding, james will probably correct me if I am out of date  Grin

Really exciting feature. But what I don't understand is this: Who has control over the private keys of the deposit addresses when people deposit for example btc? Are they stored on each of the 3 servers? If there will be 100 servers one day, wouldn't that increase the risk of one server with all the privkeys of the deposit addresses getting hacked?

Generally, private keys are handled on the client side and don't go to the servers. But I don't know for sure, so...

I asked jl777 here:  https://nxtforum.org/nxtventures/mgw-multigateway/msg43744#msg43744

Edit: Multisig! Yes.
1854  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 12:22:48 PM

Is this the first large NXT/USD market or are there other smaller ones?

This is the first AFAIK, the regulation has just been to much for most. Could have been done on Ripple I suppose but now it is more straightforward.
1855  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 12:21:06 PM
Can I be clear here?  Is this like a Mt. Gox that I don't have to trust with my money?  Is there anyway I could be using this service and get all my coins stolen?  Maybe not in the same way Gox stole, but maybe in a different way?  

Yes, it is happening. NxtPrivacy comes later  Grin

NxtServices, which Multigateway forms a part, basically links you BTC and Nxt addresses together. You don't store your coins on Multigateway like you did with MTGox.

It is almost trustless at the moment based on three multigateway servers agreeing with each other before allowing the cross chain transaction. jl777 admins 2 of them and bithaus will admin the third, the idea is that each new prominent business will admin another server. jl777 originally planned 100 servers but there will be a bootstrapping phase to get up to this. You would then have to compromise them all to crack multigateway.

This is my understanding, james will probably correct me if I am out of date  Grin
1856  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 11:07:01 AM
If someone ask a question that mentions the word "password" on a Nxt forum thread, it won't be long until Eadaqa appears with a very solid answer  Grin

And if you want to test the crypto to crypto trading (Nxt Multigateway), here is a step by step guide on how to start testing: Go to  >>>> https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/



1857  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 10:32:55 AM
You seem very knowledgeable.  Can I ask you something?  Or anybody else? My password is 34 characters long.  No dictionary words, no spaces, all more or less random numbers, letters, and symbols.  NXT says it needs to be 35 or longer I think.  Should I move the NXT to another account?  

If it's truly random, you are safe.
https://www.dropbox.com/s/syd8vwf31y90ev4/Passphrase_Length_vs_Complexity.xls

Shouldn't have to worry. The odds of a 34 character random password getting guessed are.... ~0
I think 35 was specified because most people don't use truly random passwords. Mine is 30 chars, generated like a Bitcoin mini private key. Working on the same principles, it will be the end of the universe before it's guessed by the fastest computer ever made.

Sorry I don't use Bitcoin often, is that the same as a Bitcoin address? A theft was carried out as someone used an old bitcoin address >>> Looks random but it wasn't, appeared in many google results.

Just checking  Grin
1858  Alternate cryptocurrencies / Altcoin Discussion / Re: Best Alt coin to invest in 2014 on: June 13, 2014, 10:10:01 AM
I was investing in NXT till I realize those damn whales were there too.

Now I am thinking in sell them and buy bitcoin or leave cryptos  Sad

Which whales?



1859  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 07:31:11 AM
Ugh... Are you kidding me? Are there bots prowling the network with a boatload of password-account combinations stored watching the for transactions to known addresses or something?

I got some NXT a long time ago and kept it tucked away, but with the updated client it seems I didn't have a public key, so I sent a message.. easy enough... my balance was there, but I couldn't forge because it was unconfirmed... so I figure this has something to do with old balances being 'unconfirmed' under the updated protocol until it's seen activity.. So I flip my NXT into another account that I used in the past (tx 3603756272827733121), wait for it to confirm, and as soon as it does the NXT has moved on to an account out of my control (tx 10738856805317237622)...!!!

WTF? I sat here waiting for a confirm to flip it right back, and it vanishes before my very eyes! We're talking within 2 seconds of the first confirmation!

If the network is this compromised, how do you ever expect mainstream adoption... I've had an eye on NXT since the beginning and was really into the new look and feel, the asset exchange, etc.. My interest was building in NXT again (initially less than impressed by the distribution, but it seemed a lot of great work had gone into the protocol..) Too bad.. Nxt looked cool, but as it stands I'm out.. Not sure that this can be called a 2nd generation crypto when it's this vulnerable to theft. I'd say the target audience is even more specialized than bitcoin; the average joe can hardly remember "Password1"!

Sorry for your loss.  Can you share the password of your second account?  I also find it weird that someone compromised your account that fast.

What is the password? When did you last log into the second account?
1860  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 07:29:09 AM
Payexpo - Thanks

I would like to thank especially to the most important part of Nxt at the Payexpo - donators. While any aspects could be replaced, done otherwise, without our donators - there would be no Nxt-Payexpo. So the biggest thanks go to the anonymous donator - 300k, then to intmain - donated 50k for the fee and 200k for Cointropolis's expenses, then to Lee, who donated 100k NXT (and tons of preparation hours and materials) and to the community funds that decided to join them. You can see the donation screenshot:
http://www.coinssource.com/wp-content/uploads/2014/06/nxt-screenshot-800.png and to every single other donator.

It is one month since I invited Lee to the Nxt community and worked on persuading him so Nxt could be implemented into the Txt Coins Now SMS platform. Luckily he watched my video - https://www.youtube.com/watch?v=H4HW-TP9RD4 - and he wanted to make that happen. There was a lot of fighting at the forums, but luckily Lee decided to stay with Nxt. 3 weeks ago we were contacted by the Payexpo about this opportunity, so Nxt could finally be transported into the mainstream. So thanks to the positive reaction of Ezravdb, mrv777 and QBTC, I decided to realize it. There was not much time, it went fast, so we even got http://thebitcoinnews.co.uk/2014/05/20/should-nxt-coin-txt-coins-now-become-a-partner-and-speaker-at-payexpo-2014/ at the time, when just few nxters decided to express their opinions. What next? A big anti-campaign by Top8, EvilDave, Damelon... etc, I will not comment this, just for those who don't know - it was very hard to find donators thanks to those people, some original stakeholders even told us they were secretly informed not to support this event... Maybe I could thank to Lee who skyped with the attackers, so they changed their opinions, so they were happy after. Here I should thank to QTBC who organized the skyping as I remember. But still, we lost valuable momentum. Didn't make the brochure deadline thanks to the delays

Anyway, we found one donator,  so while the "community" was talking and talking, we were preparing and organising (without spamming-style Cheesy ). But thanks to the attackers and endless discussions about the logo (even when my logo from the 23 May was chosen) - so here I can thank to Ideenfrische, they created a logo with a half chain, but repairing this was easy for me - and here I would like to thank to Uniqueorn's post:
Not sure I understand the question here?
The logo is the logo, how you choose to present it is 100% up to you. I do not think we should try to make the logo any more "official" by saying that there is only one way to present it.

So this was also the end of any other endless forum-based discussion about every little thing.

So after the funding was done, I it was quite easy to ask Cointropolis to fly there to speak and make interviews (no other jobs was needed from their side, maybe networking, since they did it automatically Cheesy ). So in this place I would like to thank to them for fast confirmation of their presence. Then again thanks to intmain for fast confirmation of their funding and to James who helped them with BTC-NXT converting. And then for speaking at the stage.

Since we had 5 tickets, 1 for Lee, 2 for Cointropolis, I needed to find at least one member, so in the worst case scenario, I would be the fifth one. Luckily, we found more experienced guys in business/finance than me, so big cudos to Intmain and Lawyer, they filled the 4th and 5th spot. Intmain is our big asset, he is programming many cool things for Nxt (Facebook), so it was little sad for me that he had to stop his programming, but there weren't many volunteers and he is definitely better asset than me. Then he added all those fantastic stuff, like flash-cards, monitors, t-shirts... And Lawyer took cameras and now he is tweeting.. all this is important. Little after Abuleu, the dev from MyNxt, decided to join the crew, because he lives in the UK. I saw no problem with paying for one ticket, so it was a no-brainer and I would like to thank to him and to those who supported his decision to come. So thanks to everyone helping with the booth.

I always love if we can find any locals, who can help with some preparations, like printing, lodging or car-driving. And this is what we found in Thames. It was him who delivered the Nxt Drop Painting, he printed the backdrop, delivered and even installed Cheesy Luckily my calculations about the booth size were correct and it fit there. Also thanks to the theironman for sending the painting. It was very close, but thanks to Thames we could deliver it at the day 1 Cheesy So luckily we didn't have to use those pics of Nxt paintings at the ground. I thought they both were by theironman, but unluckily not, so I had to apologize to the original author, but if you want to buy it, it is still available, just not very marketed (https://bitcointalk.org/index.php?topic=587007.msg7237154#msg7237154). And again thank to Ideenfrishce for original designs, that I used for Vienna and London booths.

So back to the Lee. We can thank him for organising tons of stuff, there were many aspects, where I was just his assistant and I was delivering the stuff he needed (like the Vienna roll-up design (then taken to London) or any info about Nxt, etc). We can thank him for sponsoring the Vienna and London events here we are talking about 150,000 Nxt + the same amount in Nxt shares that were given to the London-donators. Not speaking about the expenses for implementation of Nxt, but this was paid by TxtCoinsNow IPO. So here I also do not thank to those attackers, who lead to the sad decisions. After tons of criticism and trolling, Lee had to delete some topics about his company (coworkers were unhappy) and he also decided not to go to the London expo. He already paid for an expensive holiday so he decided to spend this time with his son. So the attackers won. For a few hours, it took little more persuading, that the forum is just a bunch of trolls and he accepted that and again rejoined the plan.

Nxt jumped about 1-2 years into the future thanks to the Lee's contacts. He is not a spammer, he is not a big announcer, he just decided that in order to have Nxt as a main crypto for his platform, he will add millions of Nxt owners, thanks to his contacts (not kidding). And this is why we did the Expo, even when there was such negativity about that.

Since the Payexpo orgs asked about the shops accepting Nxt - and there was no offline shop, Lee decided to create one. So one more time, we can thank Lee for:
http://cointelegraph.com/news/111772/nxt_coin_now_accepted_at_uk_cafe
http://finance.yahoo.com/news/cryptocurrency-nxt-payment-system-txt-022500411.html
http://www.theargus.co.uk/business/11268661.First_cafe_in_the_world_to_accept_crypto_currency_Nxt_Coin/
We can also thank to investor of Nxt Cafe shares, so at least the printing could be paid by that. - https://nxtforum.org/assets-board/1st-nxt-cafe-in-the-uk/
You can thank me for the Nxt-Cafe logo-design, Lee bought me some beers in Vienna, so I owed him a little bit Cheesy

I could maybe also thank to the coinssource admins, since they corrected my english grammar at the Payexpo press release Cheesy

I would like to thank to everyone who is now tweeting, sharing, commenting the Payexpo news, this is also very useful.

I would like to thank to Payexpo orgs, they decided to do this for much lower price than anyone else. We had big discounts here.

---

And if you want to thank me, that would be for organising 2 conferences in 2 weeks, leading the payexpo funding, persuading Lee to stay with Nxt, redesigning the business cards, flyers and booths for both events (Vienna business cards only for me, but 3 personal for London crew); gathering both teams, some video editing and tons of media/web stuff, like press releases, their sharing (like sending it to 200 important people), providing some materials for cointropolis presentation... I am sorry for not being a big social hero prince, not self-promoting my every single step, but being an introvert geek has always some negatives, there are still worse dudes, like Simcoin guy Cheesy

Exclusive press release: http://www.coinssource.com/nxt-entering-mainstream-payexpo-sms-payments-atms-nxtcafe-new-features/

Yours Salsacz

Good stuff  Grin
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