https://nxtblocks.info/#section/blockexplorer_distribution

He was only off by an order of magnitude, as nxtblock.info tells us, 76% of the nxt is held by 144 different accounts.

On top of this there are at least 20 of these accounts which are owned by many different people, like SuperNet, Nxt community funds stash, or Exchanges like Bter.

1. I agree, its pretty wonderful,

2. This isn't a valid argument anymore, only 1 of the 29 or so large whales has 5% of the stake and hasn't sold, all the rest have sold at least parts if not all of their nxt. There are around 50'000 accounts with positive balances on nxt. At this point, nxt can handle any account dumping all of its nxt and still be working fine.

If the alt coins were able to pick up the slack from all the asics and be profitable enough for miners to take the bribe on bitcoin, then yes, there is a problem there.

Bitcoins core security relies on the fact that mining hardware can pretty much only be used for bitcoin, if anyone can think of a good use for trillions of sha256 hashes, then bitcoins security would go down greatly.

Seems weird that bitcoins security relies on buying miners that only work for bitcoin, PoS just simplifies the process from a mining device investment to an investment in the currency itself, but that's a little off topic

In the early days of bitcoin an attack like this would have been trivial. CPU and gpu miners have nothing to lose if bitcoin goes under so they would be happy to pick up a bribery.

Because of asics on the market, people now need special hardware in order to mine bitcoin. Because the have an investment directly to the success of bitcoin, (if transactions are double spent, bitcoin becomes less valuable and asic miners become junk) they will follow the honest road and not try to rewrite the history.

So bitcoins increasing centralization is a reason for safety in this situation, oops.

A simple proof of concept nxt offline blockchainless wallet.

http://jnxt.org/vapor

All the code needed to create sign and broadcast transactions is grouped into a single html file that can be downloaded and used offline.

Overanalysis:

- the song on the first tab was released right when the banks when south in 2008 which led to the beginning of bitcoin
- song also has some interesting lyrics worth investigation
- Medici tab and supernet newsletter tab open.
-  not sure what the first and last icons are, maybe jinn stuff

Lots of little things to notice on this.

Otherwise it wouldn't be a CfB riddle

Did someone say voting... www.youtube.com/watch?v=dhJgz6hpHXg
Nxt has a voting system on the way.

I really don't quite get the bitshares mentality, so I say that I'm going to do something, then people vote for me and I get free money from the system.
At nxt you would just create something and then people will send you donations if they think its worth developing further, or the person can start an asset and sell it to make any money that they would need.

Haha, for some reason it does..

I have some ideas at jnxt.org, I write for nxt but some could be useful on bitcoin. Something like network visualization, transaction notification, or something else.

The current options for ltbcoin on the nxt network: (my email to the ltb team)

Hello all,

I am a developer in the nxt space and have been asked to help out with coordinating what can be done with this.

I've looked around at tokenly and gotten the basics of what it does. I believe nxt could assist in a few places here.

An asset vending machine system shouldn't be too difficult to implement inside nxt. Because of how nxt is set up, we are able to build and send transactions without even needing to run a node on the server. A system could be made to create and sign transaction bytes within PHP without an nxt node running. The transaction can send any type of asset, MS token, nxt, or message that's needed.

Also in the way of tokens, I suggest the Monetary System for setting up a token system. I am aware that LTB coin currently uses counterparty as its platform, but should you decide to switch over, you create an MS currency, then map the nxt addresses to throwaway couterparty addresses. The user would generate their own nxt address, then input the address into a page, the page would then calculate a burn address that matches the nxt address inputted, then the page can do a check on what amounts of LTB are in what burn addresses and credit the nxt accounts the same amount.

Another useful nxt feature to use with this would be the token. Nxt Tokens are small strings of characters that can be used to prove the ownership of an account. Say that you want to allow a user into a certain page only if they have x amount of LTB, then you would tell them to generate a token for the pages name "letstalkbitcoin.com" and the wallet will print out 160 characters that have a signature of the account used as well as a timestamp. Then the user enters their token and it is decoded to tell you the account of the user and the time it was created, after that you can make an api request to check the balance and let the user in if it greater than x.

Another possibility is integrating the LTB blogging pages with nxt aliases. Nxt aliases act as a DNS system on top of the blockchain, with them we can store up to 1000 bytes of data that directly refers to a unique string of characters. My idea is that each blog post would have a unique alias associated with it, the alias could hold link information, author data, as well as a sha256 hash of the content of the blog post, so that paranoid people could verify that the text they are reading is untampered with. This also has a timestamp system, because of the time that the alias enters the blockchain with the hash, it can be cryptographically proven that the blog post existed at a specific time. This can be used to settle any disputes that may arise.

On top of that, the way the nxt client is created makes it quite extensible, because it runs on a Javascript layer on top of Java API requests, anyone is able to modify a client to fit their needs. Its possible to make a LTB version of the nxt client that can easily show LTB MS balances and token creation, as well as load asynchronously with the LTB website, so blog posts could be read and tipped from inside a wallet

correct, there are some other cool stuff that's accomplished by this also.


yes I am.

checkpointing a cryptocurrency is believed to be centralized because for the checkpoint to have any effect (different than what the normal consensus would have come up with) it would have to be created by a group of people other than the original consensus group, most of the time this is the developers, so the coin with checkpoints would be centralized around the group of developers.

a good resource: links.org/files/decentralised-currencies.pdf (newbie here so probably wont show up)

Lets say there is a currency with 100 units.
I define the consensus group as anyone currently holding a positive number of units. (PoS)
because there is a block chain type ledger, I know the public keys of all of the accounts with positive balance.
lets say that for each block the code:
1. generates a list of all nonzero account balances and public keys
2. Takes that list and makes a sha256 has of each public key along with the hash of the previous block.
3. Takes the first 8 bytes of this sha256 to make a big number for each account.
4. Divides the number by the current balance in the account.
5. Now it makes a list of the accounts in order by the number generated earlier, smaller numbers first
6. We want a block every two minutes, and we will allow for thirty second of clock varience. (fifteen on each side)
7. Starting 1 minute 45 seconds to 2 minutes 15 seconds, we accept blocks from the number 1 on the list.
8. If the block is revieves and hood, this is started over, if not, keep going.
9. If there's no block, or a bad block, then the account is blacklisted
(blacklisted accounts cant generate blocks for a day and their block generating power is given to everyone else)
10. Keep waiting/blacklisting until an account steps up

the careful observer is now yelling WAIT, the black list makes any chain have the ability to create blocks with all of the stake, how will we know which is the correct chain.
- thanks for asking, we can resolve these disputes quite simply by just looking where more of the accounts are not skipping their turns, (will have a higher difficulty)

now the very careful observer is almost falling out of their seat, the normal nothing at stake argument PDF in hand, ready to derail this possible idea "Why doesn't everyone generate blocks on every chain, there's not reason not to"
- another great question, the reason why they wouldn't stems from economics, all of the people generating blocks have a n investment in the system and want to protect that investment, in this system, there are no fees (spam is dealt with differently) so there's no incentive to generate blocks on any chain besides to protect investments.
the only punishment for using a malicious chain is not being able to use your currency with anyone else. Lets say you buy coffee on the block chain every day, the coffee seller includes a block from the chain their on with every transaction they make to show what chain they are on, if I start a different chain, and people begin to adopt it, because why not generate blocks on as many branches as possible, then its down to the people to decide which chain to use.
in this case I would choose the same one my coffee seller is on, because I want coffee.
if a big enough representation of business is on one branch, it wouldn't make sense to ever switch to another one.

thoughts?

I see bitcoin surviving for a while more, its hard to refute that, but as a system, there are improvements that can be made.

I hope that bit coins enemies aren't alts, its more like cryptos enemies are anything not crypto and centralized.

in the move towards more efficient and advanced crypto, I believe nxt will outpace bitcoin, some people dont see that, no harm in that.

I am under the impression that nxt has gotten much more done in its first year of development than most if not all other cryptos and will continue to do so.
bitcoin got a head start and got the ball rolling, but it is possible for better systems to exist.

nxt is a crypto in constant development and doing research into the best systems, so I would venture to guess that statistics related to unpaid people helping out the platform, and developer, research and project development would slide in nxts way.

anything relating to VC money will be weighted against nxt as that's not the route we've taken

its true that most the alt coins at the top are long term scams and short term scams, and mostly copy coins, but there are some good ones and original ideas. These will eventually be weeded out and only the good ones will remain.

nxt is not better or worse than bitcoin at least not at the moment, its just different, and to keep crypto moving forward we need lots of different.

differences in algos is pretty big, but there are a few key differences aside from the pos/tf situation.

nxt has a thriving asset exchange with more good assets than any other platform.
we have the monetary system, which can be used like a side chains like system
next up in the queue is voting system, a way to get voter consensus in a decentralized way,
then there are 2 phased transactions, which are a very cool type of multisig.

nxt has flexibility where bitcoin doesn't as it is using code from today, not from 6 years ago. It is light and agile

at least this is my take, feel free to have any opinion you want.

if you want to be rich by doing nothing, then your correct, nxt is not for you, manyy other cryptos would work much better for that.

but if you want to be on the cutting edge of decentralized crypto developments and build something really cool on a platform that was made to house and decentralize everything, then nxt is for you.