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221  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 12:26:00 PM
Someone sent a transaction but forgot to attach a message with the hash.

Without a hash the coins can't be claimed!
222  Bitcoin / Bitcoin Discussion / Re: Living solely on transaction fees on: September 28, 2013, 12:18:58 PM
@jdbtracker:
I'm talking about a currency that doesn't need ASICs for mining. Particularly I'm talking about this.

@xypos:
Sorry, I didn't get your idea. Do you mean that having no block reward is a bad feature?
223  Bitcoin / Bitcoin Discussion / Re: Living solely on transaction fees on: September 28, 2013, 09:36:34 AM
you have absolutely no idea what your talking about my friend i suggest you brush up on Bitcoin Mechanics, and basic economics. to call somethings an inflationary currency that was designed not to be is a bit silly.

I'm not a friend of a person who is unable to take part in a discussion without personal insults.

Regarding your reply, number of bitcoins is increasing. Right now Bitcoin is an inflationary currency.
224  Bitcoin / Bitcoin Discussion / Re: Living solely on transaction fees on: September 28, 2013, 09:17:18 AM
The cost of mining of proof-of-stake currency is almost 0.  Also the early adopter effect is supposed to be higher for a 100% deflationary currency.
225  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 08:55:29 AM
BTW, we need a few bootstrapping servers available on the Internet.  If you are willing to help, please, download and install http://www.oracle.com/technetwork/java/javase/downloads/jdk7-downloads-1880260.html.  JDK is required to compile and run the software.  Compiled software can run on JRE.
226  Bitcoin / Bitcoin Discussion / Re: Living solely on transaction fees on: September 28, 2013, 08:36:07 AM
I forgot to say that I'm talking about a 100% proof-of-stake cryptocurrency.  Miners don't need to spend a lot of money for hardware and electricity to secure the network.
227  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 08:23:31 AM
Sent 800BTC how many NXT will i get!??

Smiley Total number of coins doesn't matter. Right now you are supposed to get 100% of them.
228  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 08:21:45 AM
Obvious scam but please prove me wrong

Don't worry, I'll send you a message with a link to the source code when it's ready.
229  Bitcoin / Bitcoin Discussion / Living solely on transaction fees on: September 28, 2013, 08:14:44 AM
Bitcoin is an inflationary currency and remain such until the last bitcoin is mined.  "Early adopter" phenomenon works only for deflationary currency, this is why noone gives 1,000,000 USD for 1 BTC.  Has anyone thought how much 1 BTC would worth if miners earned only transaction fees without a block subsidy?  Would it be much more valuable or would it be completely abandoned?  Someone can ask how all initial coins would be distributed in such a scenario, there is no way to do it without a premine and we all don't like it.  But what about a premine when already mined coins are "transferred" to other blockchain and a new currency is launched?  This looks good from my point of view.  Will such a currency survive?
230  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 07:35:44 AM
Important

15 minutes ago I had a talk with a man (or a woman) who said he is a police officer. We were chatting via Skype, he asked me to make him a phone call because he has important information for me. I refused to do so and closed Skype.
Some things to think about:
- I always use Tor surfing the Internet.
- How is it possible to get my Skype number which was created for Nxt project? It was known by 3 people only who are working on Nxt project.
- The phone number was +194... It's the USA and it's a night in there right now. Was it a joke?
- I have checked the computer, no malware found.

I will reinstall OS on my computer and will disapear for a couple of days until I find other ways to surf anonymously but without Tor.

PS: This message was posted by a member of my team.
231  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] Nxt :: descendant of Bitcoin on: September 28, 2013, 07:29:09 AM
I’d like to announce Nxt (pronounced as "next"), a cryptocurrency based on Bitcoin paradigm.

Nxt uses brand new software, it’s not a fork of Bitcoin source code.  Nxt improves different features of Bitcoin, removes some disadvantages (e.g. bloated blockchain) and resolves a big environmental issue.  I won’t write too many words, let’s jump straight to TL;DR version.

Coins are earned solely by charging transaction fees.
All coins will appear in Nxt via “transferring” them from the Bitcoin blockchain.  Not all bitcoins will be transferred hence the total number of coins is unknown yet.
Time between blocks is one minute.  This increases the rate of orphaned blocks but makes it more convenient for the users.
Nxt doesn’t use so-called “scripts” aka predicates.  This simplifies and accelerates transaction processing.  Advanced features like multisig will be created on top of the core as 3rd party services.
Mining is 100% proof-of-stake, Greenpeace will be happy.

At the present moment development of the software is not completed.  While I’m working on it we should start the transfer process to decide who and how much coins will get.  This will be done by sending a small amount of BTC to my own address.  I bet most of you have just thought “I got the catch!”  Hold on, I don’t ask you to send thousand USD worth coins, a few satoshis is enough.  A special message must be attached to the transaction.  This should be done via blockchain.info which supports such the feature.  The message must contain only SHA256 hash, that will be used to claim coins.  All these coins will be put into the genesis block that I’ll publish before the launch.  Anyone will be able to make sure that the 0th block contains only legit coins and there is no premine.

So, if you want to get coins do the following:
1.  Choose a secret phrase
2.  Calculate SHA256 hash of this phrase (an online calculator can be used)
3.  Calculate SHA256 hash of the hash you got on the previous step
4.  Send any amount to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a, don’t forget to attach a message with the hash you got on the 3rd step. (The amount is capped at 1 BTC!)

That’s it.  When Nxt is launched you will get part of new coins and your stake will be proportional to the amount you sent.

I work hard to launch Nxt as soon as possible.  I will complete all necessary things, but some extra work should be done.  I’m thinking about developing a web interface and some other cool things.  Feel free to support the development by sending donations to 125EJ3HYXNZ8swr2UBcvKNBV2voAYACFu9.

P.S.  I’m a veteran member of this forum.  I have to use this brand new account to remain anonymous but later I may reveal my identity.

P.P.S.  You can not transfer BTC to NXT after the genesis block is generated and approved by the community.




I got some offers, on the launch or shortly after it we will have the following services:

1]  Faucet.  It will be funded by our donations
2]  Currency exchange.  Classical BTC-to-NXT-n-back exchange
3]  Stock exchange.  If I got it correctly this is going to be a simplified (for non-pro traders) version of a stock exchange, can be used for crowdfunding
4]  Virtual goods store.  The goods will be provided by ordinary users (books, links, game codes, anything represented as plain text)




The interface is still in development but can be tested on http://88.198.210.245:7875




Follow me on Twitter @BCNext.  All important information will be tweeted.
Twitter suspended my account.
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