NXT :: descendant of Bitcoin - Updated Information

[PeercoinEnthusiast]

NiftyNikel is ready to represent Nxt at the Miami Bitcoin Conferene (I'll be there for Peercoin with my own swag).  We'll be working together throughout the conference:

See thats a great idea, but nxtcrypto.org/start is just more info. Idea would be to have the app be right there, and the faucet.

What does the QR scan? NM.. same address..

Nifty and QTBC are working on it.

[1714216402]

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[1714216402]

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[1714216402]

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[1714216402]

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[mercenar1e]

when will we see an official wallet program?

[Sebastien256]

My other concern is what if someone has computers creating a database brute force of 20 digit account numbers and corresponding passphrases that open those account numbers, then they just constantly scan the blockchain for accounts that are sent NXT for the first time that haven't sent NXT out yet and if the number matches a number in their database they can go grab the coins immediately?

That sound like a serious issue to me. Any other toughts on this subjet by other members?

EDit: with 64bits per account, to store every accounnts number, it requires a dictionnary of about 2048 petabytes... neverminds!

[msin]

Wow, cards look great, can I get one sent to me for souvenir?

[Mistafreeze]

Wow, cards look great, can I get one sent to me for souvenir?

Same here, those are sweet!

[utopianfuture]

My other concern is what if someone has computers creating a database brute force of 20 digit account numbers and corresponding passphrases that open those account numbers, then they just constantly scan the blockchain for accounts that are sent NXT for the first time that haven't sent NXT out yet and if the number matches a number in their database they can go grab the coins immediately?

That sound like a serious issue to me. Any other toughts on this subjet by other members?

That has been talked about multiple times. The short answer is: there is no issue and you need to understand math.

I can't find the link where it is talked about though.

[PeercoinEnthusiast]

Wow, cards look great, can I get one sent to me for souvenir?

You bet.. kick me an addy in PM.

[twistelaar]

I heard somebody said Next is going to be 30$ in 2 years, what do you guys think? for 1 year and 2 year?

[brooklynbtc]

Great minds think alike.

Like I said, I'm going to Inside BTC in NYC in April and would love to get a faucet fund set up for this by then.

It can be maintained by a third party, and maybe funded by the half million marketing fund run by Salsacz

Marketing Team could issue redemption codes, with a time code attached, so they start the week of the convention they are created for, even track the IPs and the issuer name. Even an expiration date if desired.

So in my case, I could get a numbered allotment, that would all be valid starting April 1/14, and would all track as being registered to my user name, and given out in NYC, and save the IPs and the block chain transactions so the marketing team could pull back data and see how many new users we can gain out of these conferences.

As well check back in a few weeks and see how many held, how many sold their free NXT and so on. Hugely interesting.

OK EDIT>> I'm interested in doing this whole project, Faucet, code issuing, and data tracking. I'm going to look into setting it up. Anyone interested in helping with building the backend?

thanks

[Agent86]

My other concern is what if someone has computers creating a database brute force of 20 digit account numbers and corresponding passphrases that open those account numbers, then they just constantly scan the blockchain for accounts that are sent NXT for the first time that haven't sent NXT out yet and if the number matches a number in their database they can go grab the coins immediately?

That sound like a serious issue to me. Any other toughts on this subjet by other members?

That has been talked about multiple times. The short answer is: there is no issue and you need to understand math.

I can't find the link where it is talked about though.

Thanks for the reply, if you find the link let me know.

My other thought is that I think we could take steps to minimize the chance of user error when using NXT especially with broader adoption.  This could be as basic as having the client not allow you to use passphrases less than 20 characters.  I have already seen posts from people who lost NXT because they didn't realize that the passphrase was all that was needed to access the NXT from anywhere.

I think it would be good if we could make it more difficult for people to accidentally send NXT to a wrong address.  Right now if you make any typo you can easily lose NXT.  I would much prefer if the account numbers that people use to send NXT are such that only a small percentage of the numbers are potentially valid so if you make a typo it will just error out and know that it can't possibly be a valid NXT address even if it was never used (Bitcoin addresses work like this, if you make a typo you can't send).  I would much rather give someone a 25 digit account number to send me money, knowing that if they make a typo it almost certainly errors out than a 20 digit number where one wrong number and your money is gone

Any thoughts?

New and trying to help.  Please donate NXT: 81827442798624191

[pandaisftw]

My other concern is what if someone has computers creating a database brute force of 20 digit account numbers and corresponding passphrases that open those account numbers, then they just constantly scan the blockchain for accounts that are sent NXT for the first time that haven't sent NXT out yet and if the number matches a number in their database they can go grab the coins immediately?

That sound like a serious issue to me. Any other toughts on this subjet by other members?

That would be a huge database (milions of trillions of bytes of data just to store them all). And I suppose you could counter it by sending 1 NXT to an account, registering it's public key, then transferring the rest of your funds there once it is secure.

So it's possible, but it will be extremely expensive for an attacker to do this, so it wouldn't make sense economically.

[brooklynbtc]

Great minds think alike.

Like I said, I'm going to Inside BTC in NYC in April and would love to get a faucet fund set up for this by then.

It can be maintained by a third party, and maybe funded by the half million marketing fund run by Salsacz

Marketing Team could issue redemption codes, with a time code attached, so they start the week of the convention they are created for, even track the IPs and the issuer name. Even an expiration date if desired.

So in my case, I could get a numbered allotment, that would all be valid starting April 1/14, and would all track as being registered to my user name, and given out in NYC, and save the IPs and the block chain transactions so the marketing team could pull back data and see how many new users we can gain out of these conferences.

As well check back in a few weeks and see how many held, how many sold their free NXT and so on. Hugely interesting.

OK EDIT>> I'm interested in doing this whole project, Faucet, code issuing, and data tracking. I'm going to look into setting it up. Anyone interested in helping with building the backend?

thanks

Still thinking, Obviously the allotment of redemption codes would be outputted in a format for label printers, with the "issuers name, date of event, and the code"
You could just print out the 100 or so you were allotted and stick the labels on the back of 100 cards. So easy.

[pandaisftw]

My other concern is what if someone has computers creating a database brute force of 20 digit account numbers and corresponding passphrases that open those account numbers, then they just constantly scan the blockchain for accounts that are sent NXT for the first time that haven't sent NXT out yet and if the number matches a number in their database they can go grab the coins immediately?

That sound like a serious issue to me. Any other toughts on this subjet by other members?

That has been talked about multiple times. The short answer is: there is no issue and you need to understand math.

I can't find the link where it is talked about though.

Thanks for the reply, if you find the link let me know.

My other thought is that I think we could take steps to minimize the chance of user error when using NXT especially with broader adoption.  This could be as basic as having the client not allow you to use passphrases less than 20 characters.  I have already seen posts from people who lost NXT because they didn't realize that the passphrase was all that was needed to access the NXT from anywhere.

I think it would be good if we could make it more difficult for people to accidentally send NXT to a wrong address.  Right now if you make any typo you can easily lose NXT.  I would much prefer if the account numbers that people use to send NXT are such that only a small percentage of the numbers are potentially valid so if you make a typo it will just error out and know that it can't possibly be a valid NXT address even if it was never used (Bitcoin addresses work like this, if you make a typo you can't send).  I would much rather give someone a 25 digit account number to send me money, knowing that if they make a typo it almost certainly errors out than a 20 digit number where one wrong number and your money is gone

Any thoughts?

New and trying to help.  Please donate NXT: 81827442798624191

NRS already warns users of using <30 char passphrases.

Also, a few NXT community members are working on a RS implementation that (hopefully) all future NXT clients will adopt to prevent accidental transactions from typos.

[gbeirn]

Great minds think alike.

Like I said, I'm going to Inside BTC in NYC in April and would love to get a faucet fund set up for this by then.

It can be maintained by a third party, and maybe funded by the half million marketing fund run by Salsacz

Marketing Team could issue redemption codes, with a time code attached, so they start the week of the convention they are created for, even track the IPs and the issuer name. Even an expiration date if desired.

So in my case, I could get a numbered allotment, that would all be valid starting April 1/14, and would all track as being registered to my user name, and given out in NYC, and save the IPs and the block chain transactions so the marketing team could pull back data and see how many new users we can gain out of these conferences.

As well check back in a few weeks and see how many held, how many sold their free NXT and so on. Hugely interesting.

OK EDIT>> I'm interested in doing this whole project, Faucet, code issuing, and data tracking. I'm going to look into setting it up. Anyone interested in helping with building the backend?

thanks

Still thinking, Obviously the allotment of redemption codes would be outputted in a format for label printers, with the "issuers name, date of event, and the code"
You could just print out the 100 or so you were allotted and stick the labels on the back of 100 cards. So easy.

I have a label printer! Not sure how helpful that is, but if you get me the data I can print it and mail it to you

[opticalcarrier]

is there a byte limit for an alias?

Alias - (0, 100]
URI - [0, 1000]

interesting... so forget about permanently spamming the blockchain with arbitrary messages that *may* eventually get cleaned out; just spam it with aliases to the tune of 1100 bytes per 1NXT per alias???

[brooklynbtc]

Ha thanks.. but I was thinking formatted for those sheets you can use in your regular printer.

Here in the US, online business cards are so cheap, you can get 500 for around $20, full color both sides. Label paper a few more bucks and you have the ability to get 500 people signed up to NXT for pennies each, The most expensive part is the NXT themselves, but I would appeal to the community for faucet donations.

[joefox]

I think it would be good if we could make it more difficult for people to accidentally send NXT to a wrong address.  Right now if you make any typo you can easily lose NXT.  I would much prefer if the account numbers that people use to send NXT are such that only a small percentage of the numbers are potentially valid so if you make a typo it will just error out and know that it can't possibly be a valid NXT address even if it was never used (Bitcoin addresses work like this, if you make a typo you can't send).  I would much rather give someone a 25 digit account number to send me money, knowing that if they make a typo it almost certainly errors out than a 20 digit number where one wrong number and your money is gone

Any thoughts?

See:  http://wiki.nxtcrypto.org/wiki/New_Address_Format

[gbeirn]

Ha thanks.. but I was thinking formatted for those sheets you can use in your regular printer.

Here in the US, online business cards are so cheap, you can get 500 for around $20, full color both sides. Label paper a few more bucks and you have the ability to get 500 people signed up to NXT for pennies each, The most expensive part is the NXT themselves, but I would appeal to the community for faucet donations.

This is what I have access to: http://www.dymo.com/en-US/labelwriter-labels

I'm in the US too, midwest currently but born and raised in Jersey

[brooklynbtc]

Ha thanks.. but I was thinking formatted for those sheets you can use in your regular printer.

Here in the US, online business cards are so cheap, you can get 500 for around $20, full color both sides. Label paper a few more bucks and you have the ability to get 500 people signed up to NXT for pennies each, The most expensive part is the NXT themselves, but I would appeal to the community for faucet donations.

This is what I have access to: http://www.dymo.com/en-US/labelwriter-labels

Where are you at? Although I suppose if there was marketing budget for this, cards could be ordered in bulk, label maker could be bought, and cards labeled and shipped to interested attendees for still less than a few pennies each. I'm in the US and can handle North America, I'm sure I could find a European partner to handle the similar job.

[swartzfeger]

I heard somebody said Next is going to be 30$ in 2 years, what do you guys think? for 1 year and 2 year?

I'm going to step out on a limb, knowing it's going to fall and someone more informed than me will point and laugh. That's why i like this thread, lots of smart folks here.

My layman's bullish*t guess -- I don't see any reason why NXT can't be in LTC territory in 2 years ($25). None at all. Asset Exchange + colored coins, aliases, arbitrary data/messaging, voting... the optimist in me says once these features are in place + major exchanges, NXT can be in LTC range by this fall. This year, 2014, $25+.

The realist in me says I'm a fool.

The realist in me thinks NXT = $8-$10 in 12-24 months. Only with promised features delivered and working, plus 3rd party support with services like Bitpay, SMS gateway, etc. And with a lot of hard work by the community, and a lot of luck (scoring positive articles in the media to drive adoption, etc)