these r the three questions for BCNext:
What are the most inportant 5 things the community should do, in order to properly support nxt in the next 6 months? 40 (20.6%)
why was the initial funding cancelled suddenly with few people? 22 (11.3%)
How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders? 20 (10.3%)
Pin
I didn't follow this closely enough at the time. The second and third questions are almost the same so it's a shame they're both there (although I do believe it's a key question for him). I would have added something like: - Knowing what you know now, how would you have developed NXT differently? - What are the top 5 risks that NXT faces in the coming months? - Do you think the lack of a LOLCODE implementation of NXT is the primary reason for it not yet reaching parity with BTC? Ah well, too late. you had 24h the chance to give your input, republished several times here and on the fora. maybe when he is in a good mood he will answer some bonus questions who knows. Pin Yeah, I voted for questions about improving Nxt and obstacles we face, it's stupid to dwell on scam accusations and initial stakeholder distribution. The people that voted for those are not Nxt supporters. |
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I don't hold any NXT, but I've been following NXT for the past two weeks or so and noticed something I don't really get.
How come there are such large jumps in trading volume for NXT? Last week, there has been a period of it being at around $400,000-ish every day. This morning I'm pretty sure it was in the $30,000 range and now it's at $150,000. For comparison, when NXT was at $400,000, NMC and PPC, the two biggest "secondary" alts, were at $800,000-$900,000 trading volume and the market was quite calm in general due to crash recovery, holidays, etc. Right now, the market is booming and both those have trading volumes well over $3,000,000, with NXT, as mentioned, being way lower than before. Didn't watch other alts too closely, but I guess it's reflected there as well to an extent - at the very least I think it's the case for those coins traded on BTC-e.
I don't have any proof and can't find any historical comprehensive source on altcoin performances right now, so my memory might trick me on this one. Still, though, how is that possible? That, including the whole distribution mode of NXT, kinda scares me to buy in.
My source for data is coinmarketcap.com, by the way.
The issues all come down to Dgex, which is the only exchange for Nxt and the only source for coinmarketcap stats. The site is often unavailable (ddos attacks) and subject to manipulation, furthermore, they've implemented outrageous fees causing many to shy away from trading. |
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I know these tiny issues like Substrata has have been and are easily resolved every time...but come on, this needs to work flawlessly and with no hassle for mainstream. 1-click and install and the forget about it. You can't expect people to keep deleting, refreshing things.
Totally agree, this will be solved when nexern releases his client (in about 3 weeks). |
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Looks really good.  +1 looks great |
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@CfB, Appreciate what the team is doing. Since someone is managing the sizeable unclaimed genesis funds, can I suggest stakeholders who want to help but are unable to do so directly for lack of time, skills or other reasons be allowed to channel donations into this fund. There will be no extra work for the fund manager, just more available resources. If that's OK, I'll be the first to send the 1M Nxt pledged for s/w dev but currently sitting idle. I sent you another donation ricot for your amazing work
+1 We need guys like him in our team. Hey, big stakeholders, do u hear me? I'm not a stakeholder, but I'll give 250k. I would suggest hitting up bybitcoin, Noitev, and buybitcoinscanada. They all seem to have an interest in helping the community. |
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smaragda, ricot, vamdor, ImmortAlex, rlh: Please PM your NXT tip account. Thanks for pouring through the code.
FrictionlessCoin send yours too cuz you need a NXT hug.
Post your addresses guys (gals?) I wanna reward your efforts... ricot : 100K ImmortAlex :50K vamdor: 50K rlh: 50K smaragda: 50K That's awesome Klee, thank you for rewarding these guys with what they deserve. |
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For people late to the this thread, I just wanted to remind everyone of a parallel thread going on that also contains a good discussion about the code ( https://bitcointalk.org/index.php?topic=397214.0). It's mostly focused on more minor flaws than this thread, but some good contributions have been made there. Thanks Jaguar0625. Any flaws for bounty found yet? |
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OK, so you admit you are here just trying to figure out how to make a NXT copycat and have no intention of helping. Thanks for confirming my hunch. I am not sure what the right name for someone like you is. I won't miss anything valuable by ignoring you.
You do know the next generation enterprise got totally destroyed. May the force be with you.
James
Absolutely nothing wrong with a copy, if you can improve on the original. However, I am not even sure that there's anything worth copying here. I haven't seen the spec. and have no idea that it even works. Why not become a contributor? I know you have your reasons, and have to dedicate time on your own project, but you seem to know your Java well and I'm sure the group can get you a sizable bounty of Nxt for your input. Perhaps help to fund your new project. |
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exactly, which is why id prefer it kept out of circulation market cap figures until then. And I used to be against your proposal to deny funding of darkNXT accounts but I dont think I am now.
Not everyone sends at least 1 NXT to himself to get a public key. Many don't know they should do it if they hadn't any outgoing transactions. These are saving accounts. Saving-account-NXTs can always get into circulation again, any time. Like the ones with this special outgoing transaction. I think this would be misleading. and I guess I do agree with you on that the 0.5.1 release should prohibit those accounts with stolen funds from generating public keys. We should do it now to try to flush out the thief because he knows if he doesnt xfer it now he'll never get it. so lets all keep an eye on those accounts
Weird centralized action, wouldn't it be? Who decides this? Agreed, this is dangerous to freeze any account for any reason. Regardless of how the user acquired Nxt, their account should never be controlled. |
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I have "discovered" a serious flaw in NXT. The IMF exists to stop the opposite attack on fiats, eg. massive short selling. CfB says this attack is well known, but I didn't know about it and so maybe you don't know about it either. I was told to post it publicly, so here it is:
****
I have come up with non-standard attack, call it financial attack.
Short term, this "attack" would be considered as fantastic by most NXT'ers and it consists of simply buying up all the NXT. Crazy, expensive?
Consider you are large govt with fiat of trillions of dollars, billion dollars is lunch money. They can easily win the "war on NXT". What happens if large scale accumulation of NXT occurs with $10 billion budget. How much of NXT will be left?
All accumulated NXT can be destroyed by sending to genesis acct permanently crippling NXT market. Or it can be converted to many darkNXT accts so nobody would even realize it is happening. I am assuming if we started seeing a lot of NXT being sent to genesis acct, we would notice, but so far no darkNXT detection is implemented. Without realizing, 90%+ of NXT could be destroyed with $10 billion.
Actually at $10 NXT, who wouldn't sell their NXT, so how much NXT will survive a financial attackers $10/NXT bid, especially if it was done cleverly to avoid detection? 1% left? Maybe even less. With .01 precision, smallest increment will be 10 cents even without any more price increase. NXT would be useless for microtransactions, until support is added for microNXT.
James
P.S. Solution is to not destroy NXT when sent to genesis acct, just have it automatically put into community fund. Also, PREVENT darkNXT at the protocol level. I guess evil financial attacker could simply destroy their key though so even with darkNXT fixed, there is no solution to this attack.
I agree with taking precautions on preventing darkNXT, however, I disagree on solution to sending to genesis account. A community fund is still too centralized. I think that any nxt sent to genesis account should be put in the next block fee. And the account that sent the nxt to genesis account would be prohibited from forging that particular block. This would discourage anyone from sending to genesis account, if that is our goal. On darkNXT, there is no real solutions. Any government or corporation could buy the majority of Nxt and just sit on it, and that would essentially limit commerce. The only solution would be to increase divisibles, so that even with 100 Nxt, the currency would survive.. |
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Ricky can you. track down drexme as well? He absconded with the nextcoin donation acct with 33k nxt in it
What the heck, I don't have enough time to do all the other stuff I gotta do, so sure, I'll take him on later next week. One crusade at a time.  Really, I thought he handed the donation fund to Opticalc. I know because he sent my 25k back to me. Also, Drexme was extremely helpful with getting the client up and running for me and others, he seemed like a pretty honest person. |
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Looks like you are his friend now and do not think racionally  (or haven't got as much experience with catching hackers as me, who had been dealing with thousands of cheaters) Ha ha ha. Do not confuse my being friendly to a known criminal during an interrogation with me being his friend. He deserves respect as a human being but he is guilty as sin and I know that for a fact. The only question is, just how guilty is he? I know I am a little off balance at the moment and that's why I've pulled back for a day and brought everybody here up to speed so I can listen to your ideas. All my efforts so far have been tracking this guy down in the real world to get some leverage over him, and I have accomplished that goal. Now that he sees me as a real threat to whether or not he spends next week in his own bed or a police holding cell, he's not going anywhere. He's reading this right now. So I can now take the time to go back and do the necessary homework you describe. I know the importance of a detailed and complete timeline and your data is exactly what I am going to piece together next, so thanks for your contribution. I will announce my findings in later posts and also update my "interim report" as a central holding point for the accumulating pieces of the puzzle such as the ones you give. Trust me, there's gonna be a Final Report. And nope, I ain't got your experience a-catchin' hackers. I'm just a poor ole country boy (and MIT grad) doin' the gosh-darn best I can. Well its good to have marshal rickyjames out there regulating the outlaws! |
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I am going to sell 1M of my Nxts @0.00007 (I do not sell in small parts) Any big invester interested can pm me to discuss it further! The reason is to buy a new car Good day. Keep riding your bike for a year and you can buy 10 cars for that amount |
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+1, ImmortAlex and others have been huge contributors to shoring up the source and probably saving JL some serious time. They all deserve bounties in my opinion. |
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30k NXT for only 2 BTC, come on guys really, No one wants them at this price O_o?
No one comes here to buy Nxt, post in the trading topic |
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Thanks ImmortAlex, please keep up the excellent analysis.
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honnestly I would not go to dgex, what is holding him to increase the fees again tomorrow.
Pin
Just for the record, this constant downplay from the former nextcoin.org moderator who has been jumping back and forth with utter incoherence, this nice chap asked yesterday for a 24/7 support section which he would moderate, right after that leaving newbies in the cold without any word or response to anyone's queries. Everything is not what it seems guys, sometimes the bad are the good and the trolls know how to lead us to not seeing the forest from the trees. DGEX works just fine and is lowering fees on Jan 5th.Still helping people just not on your forum, I would rather not be associated with you, sorry. You…, you can pay employees to help you out on your forum and exchange from the huge fees you ask. What you did and the timing was scandalous. I wonder were you get the time to engage with trolls, I read from some people still waiting on money for more than 2 days, and that your support has a backlog of FEW days. People with questions are welcome to the decentralized forum: https://forum.nxtcrypto.orgPin Regardless if he lowers fees, the damage is done, nextcoin.org is turning into a troll newbie board anyway, Nxtcrypto will be better. |
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So far I had no interest in forging because I was busy in doing other things. But, if I want to forge, do I need to keep the client open? If I had several accounts, do I keep them open at the same time?
Lucky for you, forging takes no effort, so you can keep busy with other things. Basically, you start client, unlock account via browser (enter passphrase), close browser with account still unlocked, keep cmd (client) running and you will be forging. You have to keep the client running with your account unlocked for approximately 24 hours for the account to start forging, at which point you will see a notice above the most recent generated block telling you how long until you forge next block. hmmm no u don't need to wait 24hrs after you open client for the first time. u need to wait 24hrs after first transaction receveid (1440 confirms), then you can open your client and start forging  My account had Nxt for several days but never forged until I left the client running for 24 hours (1440 confirmations), of course not 24 hours consecutively. |
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Haha, we will see a lot of scam coins arising from the success of Nxt. Now that people have reviewed how innovative the source is, they are going to copy, unfortunately their copies will contain the fatal flaw! |
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