[ANN] Nxt :: descendant of Bitcoin

[BCNext]

Nxt is being developed with payment privacy in mind.  I have not revealed details yet, but I can say that there is a special account in Nxt (recipient #0), later it will be used for advanced features (mixing, escrow, etc.)

[1713912980]

1713912980

[1713912980]

1713912980

[matt608]

Nxt is being developed with payment privacy in mind.  I have not revealed details yet, but I can say that there is a special account in Nxt (recipient #0), later it will be used for advanced features (mixing, escrow, etc.)

Did I send my amount correctly?  I can log in now so I'm guessing that I did.  So by having this stake now does that mean I'll start receiving nxt?  There's no 'account balance' yet that I can see... I'm guessing that's on the way?  

Edit:  Not so sure now that I am 'logging in' after all as when i click the lock and type in anything it lets me 'log in' (it unlocks).  I'm a bit confused, but I'm guessing the rest is still being developed. 

[matt608]

UPDATE

Added transaction handling.  At http://88.198.210.245:7875/ you can see how it's implemented in the interface.

How to send money
1]  Go to http://88.198.210.245:7875/
2]  Click the orange lock to unlock an account
3]  Enter any digit into SECRET PHRASE field, for example "1" (the genesis block contains only 10 addresses with 100 mil coins on each)
4]  Click the purple arrow in the top right corner
5]  Fill the form, amount must be not greater than 10,000 and fee not greater than 100 (limited for testing)
6]  Deadline (in hours) can be less than 1, enter 0.1 to set it to 6 minutes
7]  See the balance adjusted and the transaction appearing in the unconfirmed transactions list

If a transaction is not included into a block (it's not because mining is in development yet) then after the deadline is reached it will be removed.  We tested that transactions are correctly propagated over the network (sent some from one peer and watched them appearing on another).

Now I'm working on the most interesting part -- the mining.  Stay tuned.

For me the arrow in the top right is grey and not clickable, this is in Safari and Firefox.  Not sure how to proceed.

[Come-from-Beyond]

Did I send my amount correctly?  I can log in now so I'm guessing that I did.  So by having this stake now does that mean I'll start receiving nxt?  There's no 'account balance' yet that I can see... I'm guessing that's on the way?  

Edit:  Not so sure now that I am 'logging in' after all as when i click the lock and type in anything it lets me 'log in' (it unlocks).  I'm a bit confused, but I'm guessing the rest is still being developed. 

Anyone can log using any combo of chars. If u know a correct password u'll see some coins on ur balance. At the moment

the genesis block contains only 10 addresses with 100 mil coins on each

It's made for testing purposes. I believe we all get our coins after the launch according to sent bitcoins.

PS: Use "1" or any other digit to unlock a funded account.

[Come-from-Beyond]

For me the arrow in the top right is grey and not clickable, this is in Safari and Firefox.  Not sure how to proceed.

It's non-clickable coz u have no coins on the balance.

[matt608]

For me the arrow in the top right is grey and not clickable, this is in Safari and Firefox.  Not sure how to proceed.

It's non-clickable coz u have no coins on the balance.

Ok thanks, for the help.  So if I login with the secret phrase I used in the message to send the coins there should be coins in my balance?  Because I don't see any when I do that either, sorry its probably me doing something wrong.

[Come-from-Beyond]

Ok thanks, for the help.  So if I login with the secret phrase I used in the message to send the coins there should be coins in my balance?  Because I don't see any when I do that either, sorry its probably me doing something wrong.

I don't know how we'll get our coins. But right now ur secret phrase shouldn't work.

[kriwest]

Ok thanks, for the help.  So if I login with the secret phrase I used in the message to send the coins there should be coins in my balance?  Because I don't see any when I do that either, sorry its probably me doing something wrong.

I don't know how we'll get our coins. But right now ur secret phrase shouldn't work.

The secret phrase does work. And you can send yourself nxt from any of the funded accounts to your own (limited to 10,000 at a time).
I don't think the funds you send yourself will still be there at launch though, as this is just a test / development server.

Once NXT launches (correct me if I'm wrong) you'll get your account funded according to your BTC investment.

[matt608]

Ok thanks, for the help.  So if I login with the secret phrase I used in the message to send the coins there should be coins in my balance?  Because I don't see any when I do that either, sorry its probably me doing something wrong.

I don't know how we'll get our coins. But right now ur secret phrase shouldn't work.

The secret phrase does work. And you can send yourself nxt from any of the funded accounts to your own (limited to 10,000 at a time).
I don't think the funds you send yourself will still be there at launch though, as this is just a test / development server.

Once NXT launches (correct me if I'm wrong) you'll get your account funded according to your BTC investment.

So the secret phrase works but you can also log in with any random phrase?  What does the secret phrase 'work for' if the btc we sent with it as a message don't appear in our account as Nxt until launch?  

How as anyone been able to do this if the arrow on the top right isn't clickable?

:s

Trying to understand! (sorry if I'm being stupid)

UPDATE

Added transaction handling.  At http://88.198.210.245:7875/ you can see how it's implemented in the interface.

How to send money
1]  Go to http://88.198.210.245:7875/
2]  Click the orange lock to unlock an account
3]  Enter any digit into SECRET PHRASE field, for example "1" (the genesis block contains only 10 addresses with 100 mil coins on each)
4]  Click the purple arrow in the top right corner
5]  Fill the form, amount must be not greater than 10,000 and fee not greater than 100 (limited for testing)
6]  Deadline (in hours) can be less than 1, enter 0.1 to set it to 6 minutes
7]  See the balance adjusted and the transaction appearing in the unconfirmed transactions list

[Come-from-Beyond]

The secret phrase does work.

I mean the secret phrase used to generate double Sha256 to send bitcoins with.

[Come-from-Beyond]

How as anyone been able to do this if the arrow on the top right isn't clickable?

I logged with empty secret phrase. Copied id in left corner. Logged with "1" and sent 10000 to "my" id. Now when I log with the empty phrase I see some coins and can click the arrow.

[matt608]

How as anyone been able to do this if the arrow on the top right isn't clickable?

I logged with empty secret phrase. Copied id in left corner. Logged with "1" and sent 10000 to "my" id. Now when I log with the empty phrase I see some coins and can click the arrow.

Ahhhh I see, I just tried logging in with the secret phrase as "1" and suddenly there's a balance.  In the instructions it said "for example, 1" so I thought it could be anything.  Will try sending coins now.

[BCNext]

Once NXT launches (correct me if I'm wrong) you'll get your account funded according to your BTC investment.

True.  All coins will be in the genesis block.

[matt608]

It seems that whenever I paste in the recipient ID it puts commas in and changes the number so I can't send the nxt to 'my' account.  I can see the transaction as an 'unconfirmed transation' from my account but they are sent to a different account.  it wont let me paste in my ID without it changing the numbers.

[Come-from-Beyond]

It seems that whenever I paste in the recipient ID it puts commas in and changes the number so I can't send the nxt to 'my' account.  I can see the transaction as an 'unconfirmed transation' from my account but they are sent to a different account.  it wont let me paste in my ID without it changing the numbers.

There is no unconfirmed transactions, refresh the page. Did u send to 17276992720792898000?

[gorgorom]

This NXT is really gonna be something great when its done. OP if you need any advertisement or promotion I run many sites which I would give you some help for free. Just pm me

[ripper234]

Cool twist on the PoS/Mastercoin idea.

You should clarify and put in the OP a specific datetime (blockchain time) by which the issuing stops.
Is 03/Jan/2014 the official launch date for Nxt?

Also, I think you should have used some incentive for early adopters.
Mastercoin gave 10% bonus per week before the deadline.
Here, everybody has the incentive to wait until the last possible minute before sending their satoshis.

Since the deadline is still about 3 months in the future, I think it's still ok to change the protocol and include such a bonus. I wouldn't use 10% per week though ... let's see we still have about 11 weeks to go. MSC had a ~40% bonus over 1 month, and the short investment period was criticized. I propose giving Nxt users 5% bonus per week prior to the deadline. Fractional week counts as the appropriate fraction of 5%.

It's actually an interesting experiment in game theory. You intended the sent amounts to be small, but you might gather up a non-trivial amount in your address.

I assume the funds sent to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a will be used for developing the protocol/related bounties? Is this stated anywhere? This should be added to the OP.

BTW, it's really too bad you didn't use a vanity address for your version of 1Exodus.

Good luck, I will be following this.
If you want we can chat sometime and you can tell me about the vision of this new alt (ping me at ron@bitblu.com).

[ASICSRUS]

neXt$$$  (((on watch)))

[Come-from-Beyond]

4]  Virtual goods store.  The goods will be provided by ordinary users (books, links, game codes, anything represented as plain text)

It's hard to sell goods for bitcoins due to ever-increasing price. Nxt will have even "worse" deflation, number of Bitcoins is increasing while number of Nxts is set in stone. The store will fail unless sellers adjust their prices each day.

[BCNext]

Economics is not my area of expertise.  I can say nothing about the issue.