NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

I'm launching a cryptocoin based on Nxt AM technology. It will be a PoW coin, but it will be protected against 51% attacks by Nxt PoS algo. If this coin becomes popular then we will see a lot of forks. Any ideas if this will make Nxt more or less popular? Such coins require to have an Nxt wallet, coz transactions a made by paying 1 NXT fee.

[swartzfeger]

What is something happens with Annon?

We could place Anon in stasis inside the blockchain until technology is sufficiently advanced to resuscitate him. Do we have a cryogenics API yet?

I dunno, it's a valid question. What if? I don't know. Consider it a future mining possibility 10 years down the road?

If something happened (G*d forbid), at least the NXT wouldn't permanently be lost (or any change made to the code).

[NxtChoice]

I suggest to send those Nxt to the genesis account. What we care is Nxt itself whether Nxt idea is valuable and worth to develop and invest in. If yes, the community doesn't lack those Nxt. So many stakeholders have more than 10 M, and if they care Nxt they know how to do it. If yes, we know how to earn Nxt if we don't have Nxt through our development, marketing and any kinds of work. If not, send anyone those Nxt means nothing.

Why is it that realism evades so many here?
Yes we all have ideologies and want NXT to succeed based on it's own merits, but without PR nxt is nothing.
The best paintings have never been seen and the best music never been heard and the best codes has never been ran.
PR is the key that unlocks NXT's potential, not the other way around.

We are a semi-small team of people who do 90% of the promotional and activist work surounding NXT and we don't get paid for it, we do it because we believe in NXT, but would it help TREMEDNOUSLY if these 10M got put into our work? Obviously.

And if you truly want NXT to succeed you will see that marketing and promotion is necessary.

Yes, we do it because we believe in Nxt. If Nxt is a profound innovation, the believer doesn't care about the short term ROI of our investment of money, time, development, PR, marketing. Marketing and promotion is important, but I don't think it is so important for us to consider how to deal with the community's money for a better success of Nxt. "A world with the money can not be perfect." , so I suggest throw it to be anit coins and don't wast time on it.

Take Bitcoin for example, Satoshi and other developers, early adopters, developed and mined more than 2 Million without any PR, marketing in the first 2 years. Bitcoin's success is not on the early marketing and PR, but their profound innovation, infrastructure and their believes in their innovation. If there are not so many users adoption in Nxt, OK, the price goes down, and buy in and just do our work and accumulate the infrastructure, and we can get the success in the middle and long term. If there are so many adoption due to Nxt is so attractive right now, OK, more and more users will join the community and work together, and everyone's work is more valuable in money right now.

So if you believe in Nxt's innovation, buy in Nxt for the investment and work for Nxt. Don't depend on those 10 M Nxt. Depend on your own investment and your own work. Someone may find it is very risky and just want to earn in short term for their investment in time, money and development work. It's the real market, and we also need those users, or we can't buy in so many to get a lot return for our consistent work.

[swartzfeger]

I'm launching a cryptocoin based on Nxt AM technology. It will be a PoW coin, but it will be protected against 51% attacks by Nxt PoS algo. If this coin becomes popular then we will see a lot of forks. Any ideas if this will make Nxt more or less popular? Such coins require to have an Nxt wallet, coz transactions a made by paying 1 NXT fee.

If it requires a Nxt account, and costs 1 NXT, I don't see how it would make Nxt less popular. Just a quick reaction before I fall asleep (and the valerian is kicking in...)

[MadCow]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

Yes, that could work!

[landomata]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

Yes, that could work!

I say....Anon, CFB & Klee....manage the account.

Edit : Its a long shot all three will disappear at the same time

[pinarello]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

Yes, that could work!

I say....Anon, CFB & Klee....manage the account.

Edit : Its a long shot all three will disappear at the same time

The three should have the intention to support NXT in the long term, and have time to be there for the community.

So CfB is out

Pin

[l8orre]

NRS question -

maybe someone who knows (probably one of the core edevelopers) can give me a liitle hint here in respect to the blockchain operations:

as I understand the blockchain is an implementain of a Merkle tree, as is with Bitcoin.
Am I right with the assumption that the blockchain of NXT works in a similar manner as the blockchain of Bitcoin (hence the quick appearance of NXT blockchain explorers, etc),
and that the the difference between NXT and bitcoin lies in the crypto (curve25519, incl PoS & transparent forging) BEHIND the blockchain?

So that if I want to get a grip on the internals of NXT, I could start out by getting a grip on the blockchain operations, which I could do by consulting Bitcoin blockchain documentation?  

Cheers,
l8orre

[ or is there a special thread for this that I may have missed?   ]

[gimre]

Regarding 10M thingy, what do you think about using one of Secret Sharing schemes?

There are schemes, that allow dividing the secret into ROLES, i.e. BCNext would be general, and let's say 18 soldiers.

To "vote" (make transfer) there would be needed vote of general and k out of n soldiers.

General is not able to do generate Shared Secret by himself.
If there would be conspiracy of soldiers, they wouldn't be able to retrieve Shared Secret without general.

[landomata]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

Yes, that could work!

I say....Anon, CFB & Klee....manage the account.

Edit : Its a long shot all three will disappear at the same time

The three should have the intention to support NXT in the long term, and have time to be there for the community.

So CfB is out

Pin

Pouncer

[swartzfeger]

So if you believe in Nxt's innovation, buy in Nxt for the investment and work for Nxt. Don't depend on those 10 M Nxt. Depend on your own investment and your own work. Someone may find it is very risky and just want to earn in short term for their investment in time, money and development work. It's the real market, and we also need those users, or we can't buy in so many to get a lot return for our consistent work.

I could spend $50 of my own fiat @ istockphoto (or wherever) to complete some upcoming brochures. Or I could spend $50 on buying more NXT. A few hundred NXT tossed to the people working on projects won't break the bank and will probably keep team members on projects.

personally, I'm done paying out of pocket... it's not that I'm mad, stamping my feet demanding ransom (volunteering free time is exactly that -- FREE)... it's just that the lack of NXT received by Uniqueorn et al indicates to me there's zero interest by the stakeholders, community etc. I think that's the issue the PR people are facing.

If there's zero interest, why am I paying $ out of pocket for projects when I can just head to dgex with my fiat? More time for reading this monster thread.

[pinarello]

Regarding 10M thingy, what do you think about using one of Secret Sharing schemes?

There are schemes, that allow dividing the secret into ROLES, i.e. BCNext would be general, and let's say 18 soldiers.

To "vote" (make transfer) there would be needed vote of general and k out of n soldiers.

General is not able to do generate Shared Secret by himself.
If there would be conspiracy of soldiers, they wouldn't be able to retrieve Shared Secret without general.

a general with VETO power?

[pinarello]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

Yes, that could work!

I say....Anon, CFB & Klee....manage the account.

Edit : Its a long shot all three will disappear at the same time

The three should have the intention to support NXT in the long term, and have time to be there for the community.

So CfB is out

Pin

Pouncer

BCNext decides or community votes and recrute candidates.?

Pin

[dzarmush]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

One account + three people knows passphrase = less secure

Ten accounts + ten anonymous separate people = super secure

BCNext should pick the people

[pinarello]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

One account + three people knows passphrase = less secure

Ten accounts + ten anonymous separate people = super secure

BCNext should pick the people

Case:

Community decided to pay 10,000 NXT to X

Who of the 10 accounts will pay?

Pin

[gimre]

Regarding 10M thingy, what do you think about using one of Secret Sharing schemes?

There are schemes, that allow dividing the secret into ROLES, i.e. BCNext would be general, and let's say 18 soldiers.

To "vote" (make transfer) there would be needed vote of general and k out of n soldiers.

General is not able to do generate Shared Secret by himself.
If there would be conspiracy of soldiers, they wouldn't be able to retrieve Shared Secret without general.

a general with VETO power?

yups exactly

[swartzfeger]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

One account + three people knows passphrase = less secure

Ten accounts + ten anonymous separate people = super secure

BCNext should pick the people

While you zig, I'm going to zag -- I don't think BCNext should pick. The whole cult of BCNext needs to die, I think.

BCNext wants a say? Then he should come here and post names and quit acting like an Aspergian flake with middle men speaking for him (with all respect to CfB).

Seriously, if he wants to pick, start interacting with the community like the rest of us and get a bloody nose from time to time.

[swartzfeger]

BCNext decides or community votes and recrute candidates.?

Pin

Community. If BCNext wants a say, maybe he should decloak from time to time and drop in.

[dzarmush]

put it on one account with three people that know the password

the community decides by vote when to send money.

one of the three is sending

Pin

One account + three people knows passphrase = less secure

Ten accounts + ten anonymous separate people = super secure

BCNext should pick the people

Case:

Community decided to pay 10,000 NXT to X

Who of the 10 accounts will pay?

Pin

Every of them 1/10 part. Or every account may have a number from 1 to 10, so account 1 pays until it's empty. Lots of options. Security should be the main concern.

[wesleyh]

1 account, 10 million.

9 anonymous people are chosen.

3 get the first part of the password.
3 get the second part of the password.
3 get the last part of the password.

So to send money, we just need to contact 1 of every group.  This needs to be a diverse group so that no one can figure out other people that might be in the group of chosen ones.

Make a script that allows input of the password parts and then executes it.

Or better yet, use some sort of screen sharing where each person then enters their password phrase. Everyone can view at the same time.