I'll keep repeating this.... THE SKY IS THE LIMIT This guy even forgot his +1 or smiley  Thanks for the contribution  |
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How do you judge value? Why would Nxt price increase so much and why hasn't the debilitating dump occured after such a large percentage increase?
All POS are created at the beginning, how could it be any other way? And how is this reflected in your article? So you are to conclude that all POS are poor investments for all time and not to consider how they are distributed over time?
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Now the BC community is split, can we expect a fork down the line?
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Didn't talk long for the first round of deleted posts Do you guys know IE's daughter is still up at the clone of this forum? Should someone do something about it? |
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*snip*
Please try to refrain from quote walls of text and just +1'ing them, i mean, +1 is awesome but just snip the one you quote.
+1  TY |
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In the interests of actually being able to follow what is going on in here... Can we agree to not re-quote walls of texts and graphics with just "+1" or " " or "pump pump pump!" at the end of it? Let's just have useful stuff? Mods, can I get a 'hell yeaah!"? And not everyone has unilimited data on their phones you know Thanks |
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Didn't think the last one was self moderated |
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Looking forward to more reasonable discussion in this one.
Yes, this one is going to be self moderated however. I will not delete genuine problems, but FUD, trolling, accusations and threaths are gone on sight.Also, IE: you are welcome to post your projects here. QFT.. as they say How about getting some devs on here so people don't have to sign up to three seperate forums to get any technical questions answered? |
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Can someone give me a quick rundown of what that first transaction achieves? Why is your account more secure afterwards?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
I can't explain from the level of the code (I don't think that is what you want anyway ) but... An account without an outgoing transaction has 64 bit encryption. When you send an outgoing transaction, the account number (public key) is registered on the Nxt Blockchain. This then provides the account with 265 bit encryption. As I understand it, it is possible that 64 bit could be bruteforced within 2-3 years. 256 bit makes it practically impossible to bruteforce. Thanks! Actually I was hoping for a little more detail  The address is something like sha256(curve25519(sha256(key))). It is presumably as easy or hard to bruteforce this regardless of whether an account has been verified. If you know the key, you have access to the account. You must be talking about an intermediate step - a way of sending funds from an account without using its private key? You need someone better than me to go into detail All I know is bruteforcing a 64bit key (1.8^19 possible combinations) is much easier than bruteforcing a 265bit key (1.15^77 possible combinations). How it is actually converted between the two...? If you are on Nxtforum, the best place to post for the detail would be https://nxtforum.org/general/ and it will get picked up by the devs. |
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Vertcoin sub-post say's PoS is not secure, any comments about?
In what way is it not secure? A statement like this without any explanation is just FUD, is it not? If they use the phrase "Coin Age" in their reply, it is irrelevant to Nxt as Nxt does not use Coin Age like Peercoin and it's clones (Novacoin, Blackcoin, Whitecoin et al). Nxt uses a new form of POS, ask if their comments relate to Nxt and we can talk more. |
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Can someone give me a quick rundown of what that first transaction achieves? Why is your account more secure afterwards?
This has relevance for cold storage, since it's not possible to send NXT into a verified account that has been created solely offline. Although you can create the address easily enough and send funds to it, what's the trade-off with connecting it to the web for that one transaction and the security it brings?
I can't explain from the level of the code (I don't think that is what you want anyway ) but... An account without an outgoing transaction has 64 bit encryption. When you send an outgoing transaction, the account number (public key) is registered on the Nxt Blockchain. This then provides the account with 265 bit encryption. As I understand it, it is possible that 64 bit could be bruteforced within 2-3 years. 256 bit makes it practically impossible to bruteforce. |
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so if the account number is unused the transaction can't pushed thru.
Just an assumption on my part. Maybe I just got lucky with the Cryptsy withdrawal delays and had some time before the transaction was processed, not sure. You got lucky If the account number is valid and had a zero balance, you can transfer Nxt to it. Otherwise, there would be no way to 'create' an account for yourself the first time as they they would all have zero balances. Nxt that has been inadvertantly sent to accounts they don't know the password of are referred to as DarkNXT. Accounts that don't have an outgoing transaction are indestinquishable from DarkNXT so make sure you have had made one transaction on all your account (send Nxt or a message or create an alias) You can read about DarkNXT and lots of other Nxt defnitions in the Nxt Glossary >>>> https://wiki.nxtcrypto.org/wiki/Glossary |
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Not sure if this has already been answered but heres my question. I bought some nxt on bter and transferred it to my wallet, but still it says I am not forging. I thought having NXT in my wallet would allow me to forge? Also it says my effective nxt balance is zero but my unconfirmed balance is 7120
You are only eligible to forge from 1440 blocks after you made the transfer. Your unconfirmed balance will become your Nxt balance after 1440 confirmations (roughly 1.8 days currently). Then you click on "not forging" and it will change to "forging" |
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open a support ticket and let cryptsy stop the transaction asap !
Resolved. Phew! I had already submitted a support ticket but I also managed to catch Big Vern in the chat. Lucky for me I sent the coins to an unused account number and they were stuck in pending, so no transaction ID. Big Vern cancelled the transaction in time and coins were returned to cryptsy account. Thank you all very much for your help, much appreciated. now, off to buy more... Glad to hear a happy conclusion Maybe switch to Notepad++, it is a source code editor so it doesn't fiddle with the formatting etc. of what you put in there |
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Here we go again. How would your fairer forging system work? What about cutting upper limit of forging power at couple of thousand NXT? Then the large stakeholder splits his account and still forges most of the fees. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit. *snip* This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms Some thought this was good, some thought it was damaging.
(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this ). is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appears to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase. That is why I propose to get the reward for letting a node run AND proportional to ammount of NXT (option to cut at upper limit). This would motivate a lot more people to let a node run and also big holders would get their benefits... Would the additional reward be NXT? ... |
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Latest news from the dvelopment thread I am done with the implementation of the Digital Goods Store API, and have switched to BouncyCastle for the AES encryption. Now it is assigned to Wesley to start working on the UI.
Another milestone reached in the new feature development JL has completed the back end of the Digital Good Store, now Welsey works his magic on creating a nice interface for us to use ps. the quote is not working properly its going another place. I didn't realise they worked like that It is a topic on nxtforum, not here, so no wonder it is squiffy The source is >>>> https://nxtforum.org/news-and-announcements/development-roadmap-update/ |
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Here we go again. How would your fairer forging system work? What about cutting upper limit of forging power at couple of thousand NXT? Then the large stakeholder splits his account and still forges most of the fees. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit. *snip* This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms Some thought this was good, some thought it was damaging.
(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this ). is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appears to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase. That is why I propose to get the reward for letting a node run AND proportional to ammount of NXT (option to cut at upper limit). This would motivate a lot more people to let a node run and also big holders would get their benefits... With the launch of AE, I think a return of Nodecoin is planned. It will have other benefits too in a Nxt Health Monitor that allows us to tell in a decentralised way if Nxt is forking . Full explanation can be found here >>>> https://nxtforum.org/multigateway-jl777/nodecoin/ |
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Latest news from the dvelopment thread I am done with the implementation of the Digital Goods Store API, and have switched to BouncyCastle for the AES encryption. Now it is assigned to Wesley to start working on the UI.
Another milestone reached in the new feature development JL has completed the back end of the Digital Good Store, now Welsey works his magic on creating a nice interface for us to use |
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