[ANN] Nxt :: descendant of Bitcoin

[josephliton]

why in my cmd window do i just see this message over and over



java.nio.channels.unresolvedaddressexception ?

and i only see that i am connected to local host nodes??


how to fix this?

Ask here https://bitcointalk.org/index.php?topic=345619.17780

[1714213360]

1714213360

[1714213360]

1714213360

[1714213360]

1714213360

[esse83]

Newb here when it comes to proof of stake, but is it right to say that the rich gets richer? My shallow understanding is that the biggest wallet will get the most amount of fees..?

[Anon136]

Newb here when it comes to proof of stake, but is it right to say that the rich gets richer? My shallow understanding is that the biggest wallet will get the most amount of fees..?

A person with 5 nxt only forges 5 times as many as someone with 1 nxt. Its not like there is some advantage to having a lot in that respect, its not like someone with 5 nxt gets to forge 6 times as many as someone with 1. It will only lead to stratification if people with smaller amounts of nxt don't feel that it is worth their time to forge. Ideally we will have clients some day that give no barrier to entry for someone who wants to forge with even a single nxt and so there will be no reason for him not to and so no stratification.

[esse83]

Newb here when it comes to proof of stake, but is it right to say that the rich gets richer? My shallow understanding is that the biggest wallet will get the most amount of fees..?

A person with 5 nxt only forges 5 times as many as someone with 1 nxt. Its not like there is some advantage to having a lot in that respect, its not like someone with 5 nxt gets to forge 6 times as many as someone with 1. It will only lead to stratification if people with smaller amounts of nxt don't feel that it is worth their time to forge. Ideally we will have clients some day that give no barrier to entry for someone who wants to forge with even a single nxt and so there will be no reason for him not to and so no stratification.

Right, I get that its pretty much static over time, but still the fact remains that the whales will grow bigger and bigger over time (as will everyone, but mostly the big players will scoop up the big chunks). I guess you could say that about the big miners with scrypt and sha256 as well though. In that case its pretty even and therefore proof of stake if superior because it takes less resources electricity wise. Agree with this?

[instacalm]

14392452322926154315

Ok this is crazy, I had 92 nxt coins.. logged in today after having the client unlocked for 24 hours and now have -2.00, locked and unlocked and now have -5.00.  How can I get a -5?

You have 93 NXT in your account... http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=14392452322926154315

[Anon136]

Newb here when it comes to proof of stake, but is it right to say that the rich gets richer? My shallow understanding is that the biggest wallet will get the most amount of fees..?

A person with 5 nxt only forges 5 times as many as someone with 1 nxt. Its not like there is some advantage to having a lot in that respect, its not like someone with 5 nxt gets to forge 6 times as many as someone with 1. It will only lead to stratification if people with smaller amounts of nxt don't feel that it is worth their time to forge. Ideally we will have clients some day that give no barrier to entry for someone who wants to forge with even a single nxt and so there will be no reason for him not to and so no stratification.

Right, I get that its pretty much static over time, but still the fact remains that the whales will grow bigger and bigger over time (as will everyone, but mostly the big players will scoop up the big chunks). I guess you could say that about the big miners with scrypt and sha256 as well though. In that case its pretty even and therefore proof of stake if superior because it takes less resources electricity wise. Agree with this?

Its fairly even. We will probably see larger actors gaining more in transaction fees than smaller ones since they will probably on average make fewer transactions from their accounts than smaller actors. You can look at it this way. If someone with 6000 nxt made 7 times as many transactions as someone with 1000 nxt and they were both forging than on average nxt would tend to flow from the larger fish to the smaller fish. If someone with 6000 nxt made 5 times as many transactions as someone with 1000 nxt than the nxt would tend to flow from the smaller fish to the larger.

[Danniego]

NXT coin has been listed on http://bter.com/trade/nxt_btc
The NXT coin price jumped like well like vertical lift off of 100%
I think it is a good sign that people can trade nxt on other exchanges.
It also shows that the coin is gaining interest and respect(?) for its features.
Time will tell.

[rojuwah]

from the 1st post, this coin sounds like a horrible scam to me.

[ThePatient]

Why is it called 'forging'?

[operrajunk74]

from the 1st post, this coin sounds like a horrible scam to me.

I dont think it is scam, the software is unreliable and need more work, but nice try

[qqNxt]

I seriously recommend nxt! Go have a read around and make your own opinion like i have made mine.
i have profited 2x now, feels really good. 
These are two popular exchanges atm,
Bter:   https://bter.com/ref/131164              (asian)
DGex: http://dgex.com/index.htm?8952       (rest of world)  

Use my referals if you can, you don't loose a cent because of refs.
Good luck to all.

[FrictionlessCoin]

https://bitcointalk.org/index.php?topic=422052.0

[FrictionlessCoin]

This is the FAIR distribution that the Nxt folks are so proud of (discovered in the decompiled source code):



This is a graph of the original NXT distribution.  73 accounts.

Here are the numbers:

36742
1970092
349130
24880020
2867856
9975150
2690963
7648
5486333
34913026
997515
30922966
6650
44888
2468850
49875751  <-- Did he pay in?
49875751  <-- Did he pay in?
9476393
49875751 <-- Did he pay in?
14887912
528683
583546
7315
19925363
29856290
5320
4987575
5985
24912938
49875751 <-- Did he pay in?
2724712
1482474
200999
1476156
498758
987540
16625250
5264386
15487585
2684479
14962725
34913026
5033128
2916900
49875751 <-- Did he pay in?
4962637
170486123 <--- 170 million Nxt
8644631
22166945
6668388
233751
4987575
11083556
1845403
49876
3491
3491
9476
49876
6151
682633
49875751 <-- Did he pay in?
482964
4988
49875751 <-- Did he pay in?
4988
9144
503745
49875751 <-- Did he pay in? Yup, 50million each
52370
29437998
585375
9975150

[FrictionlessCoin]

Why is it called 'forging'?

Not sure.  It only collects the transfer fees.  So I don't know what it is 'forging'.

[FrictionlessCoin]

from the 1st post, this coin sounds like a horrible scam to me.

Maybe you should go ahead and read more than the first post, ya?

well maybe not a scam.

but definitely an unfair distribution and an unreliable implementation.

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

[starik69]

<-- Did he pay in?

Someone didn't read the first post
All paying in is here https://blockchain.info/address/1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a with hashes!

[FrictionlessCoin]

<-- Did he pay in?

Someone didn't read the first post
All paying in is here https://blockchain.info/address/1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a with hashes!

ok... it was explained... those were the 1 BTC payments.

thank you for explanation.

[ShawnLeary]

Genesis block funding occurred in late Sept 2013 when one Bitcoin was worth approximately $130.00 USD.  All those that gave 1BTC received somewhere near 47M NXT, which today is worth approximately 3.29M USD.  This could be, perhaps, the best return on investment the world has ever seen.   

Their initial cost per NXT was $0.000002765USD.  Selling their NXT today would earn $0.07USD.   This equates to a 25,300% gain on investment in just four months! 

Wanted to post before the forum is locked for posterity.

[Ortegon]

Is NXT the only one cryptocurrency, that doesn't based on btc source?