Need help with my NXT. What with the 2.0 stuff?

[willyum]

Hello,


I haven't looked at the crypto market for a long time. I brought NXT a while ago. What is with the new 2.0 release? Will my old NXT be worth anything?


Also is there an easy way to transfer NXT without downloading the client? I am a noob lol.


Cheers

[freshman777]

You can use a web wallet to create an account https://wallet.mynxt.info
NXT 2.0 asset (FXT/ARDR) will be added to your account in October, to be eligible for FXT/ARDR you must move your NXT 1.0 coins to your account from an exchange and keep it until then.

[willyum]

Hi Freshman,


All my NXT was in the client. Does this mean it will be changed over?

[freshman777]

Hi Freshman,


All my NXT was in the client. Does this mean it will be changed over?

When your NXT is in your account, in the client, you will need to upgrade client to 1.9 before October, before block 1,000,000. You don't need to do anything else. In October at block 1,000,000 your account will receive a special asset (FXT/ARDR), the number of units you will receive will be averaged to your NXT account balance. Everyone will be able to trade this asset for some months until release of NXT 2.0. This asset will become the forging token for NXT 2.0 parent chain.

1.9 is not released for mainnet yet, check https://nxtforum.org/nrs-releases/ every two weeks, and upgrade when it's ready.

[willyum]

Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

[freshman777]

Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

[frobley]

useful info thanks, was in same situation as OP

[goashu]

me too

THanks for the help!!

You can use a web wallet to create an account https://wallet.mynxt.info

I have this webwallet, so I don't have to do anything until october?

[TravelsAsia]

Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?

[freshman777]

Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?

Investor keeps both, actually three products:
a) 1.0 coins, core developers pledge to maintain 1.0 for 2 years at least, with bugfixing releases. Probably longer if there is demand and resources.
b) 2.0 ARDR tokens for the parent chain to rule future child chains. If you buy a stake before July 14th, you get 1:1. Three weeks are left to take advantage of the full offer.
c) NXT 2.0 child chain (0.5:1).

suppose you buy 10,000 coins before July 14th, you will have 10,000 nxt 1.0 coins, on Oct 12th you will receive 10,000 ARDR assets later to be turned to 10,000 ARDR forging tokens in the parent chain and 5,000 NXT 2.0 child chain coins.

Should you buy a stake between July 14th and October 12th, you will still get ARDR but because snapshots of the balance will be taken every hour you will receive more ARDR the sooner you buy a stake. Hope I wasn't too confusing with my explanation, don't hesitate to ask questions.

[TravelsAsia]

Ok thank Freshman.



One more question, sorry to be annoying. If if don't want to download the client as I never use it, can I just leave it in my account and use the online wallet to claim my nxt2.0 when it comes of age?

Not annoying, happy to help.

You must have your account created in one of these places: in the core client, in web wallet, in the Lite client. When you have one of these and you have moved your NXT coins to your account, all you should do is keep those coins in there until October. Your FXT/ARDR asset will be sent to you in October. When you got the asset, you should be able to send/trade it as long as you remember your pass phrase.

Are the 1.0 coins destroyed or does the investor keep both products?

Investor keeps both, actually three products:
a) 1.0 coins, core developers pledge to maintain 1.0 for 2 years at least, with bugfixing releases. Probably longer if there is demand and resources.
b) 2.0 ARDR tokens for the parent chain to rule future child chains. If you buy a stake before July 14th, you get 1:1. Three weeks are left to take advantage of the full offer.
c) NXT 2.0 child chain (0.5:1).

suppose you buy 10,000 coins before July 14th, you will have 10,000 nxt 1.0 coins, on Oct 12th you will receive 10,000 ARDR assets later to be turned to 10,000 ARDR forging tokens in the parent chain and 5,000 NXT 2.0 child chain coins.

Should you buy a stake between July 14th and October 12th, you will still get ARDR but because snapshots of the balance will be taken every hour you will receive more ARDR the sooner you buy a stake. Hope I wasn't too confusing with my explanation, don't hesitate to ask questions.

Ok that makes sense. Is that a share of ALL future NXT 2.0 child chains? If that's the approach, it reminds of what Bitshares tried with the social consensus.

[freshman777]

Ok that makes sense. Is that a share of ALL future NXT 2.0 child chains? If that's the approach, it reminds of what Bitshares tried with the social consensus.

It's a 50% share of the NXT 2.0 default child chain and 100% ARDR parent chain tokens, to be launched in 2017.

Future child chains are two years away in the future, there is no indication in the NXT 2.0 roadmap that current holders will receive a share in them too, it would be too much to ask

[freshman777]

http://www.forbes.com/sites/rogeraitken/2016/06/21/nxt-crypto-blockchain-team-prepares-ardor-scalable-child-chain-platform/#7612b1be349b

More details.

[freshman777]

me too

THanks for the help!!

You can use a web wallet to create an account https://wallet.mynxt.info

I have this webwallet, so I don't have to do anything until october?

You should be fine, remember the passphrase

[SmirkinPepe]

Are the ditributions of the 2 new tokens both based on the snapshot from juli on?

[freshman777]

Are the ditributions of the 2 new tokens both based on the snapshot from juli on?

Snapshots of balances will be made every hour. To get a full 100% share of ARDR you must keep coins in your account for 90 days, July 14th to October 12th. If you keep them less than 90 days between these dates you will still receive ARDR but less.

Suppose you buy 10,000 coins on July 24th and keep them until October 12th, = 80 days. You will receive about 89% of ARDR. For best results store them in a cool dry place, guys, for 90 days

For NXT 2.0 default child chain coins the distribution will be based on your balance when NXT 2.0 is launched in 2017.

Don't dump your NXT after the snapshot period. You will need them to get the first child chain token FNX at the ratio 1:0.5 when Ardor launches in Q3 2017.

[HCLivess]

Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor

[freshman777]

Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor

http://nxt.org/roadmap/

[HCLivess]

Where can I read about getting 1/2 of NXT in NXT 2.0?
I thought there was only Ardor

http://nxt.org/roadmap/

Thanks, I will repost this in another thread. Not sure how I could miss it.

[c4s7or]

I have some NXT on Poloniex. Does that mean I have to transfer them to the client/Wallet to get NXT 2.0?