NXT :: descendant of Bitcoin - Updated Information

[Sharky444]

Unlike Bitcoin, Nxt presently relies solely on brainwallets as the means of user authentication.  There is no "cold storage" alternative offered.

Type anything like

NW948YN3V95YN0PWS93498934N376N095HG857028MEOAWMFYCNOQA789O837QY8

Save it and use as a cold storage passphrase.

The account (16025050820116515852) has 0 coins. Wait a few days and we will probably see something there lol!

We should fund all the accounts of known passphrases with 1 NXT to prevent the use of it.

Good idea, but who will contribute such a huge number of NXT?

How about kill two birds with one stone?
Create a script to send 1 NXT (with 1 more NXT as the tx fee) to the addresses created by the dictionary from the unclaimed account every minute. The tx fee can help to increase a little bit incentive of mining. Moreover, this can be a good penalty to those unclaimed owners. 

This is a great idea!

[Come-from-Beyond]

could you please answer my previous question about the functionality of the client? (what is happening in the bacjground when the java client is open?)

Already did. Look upthread.

[2Kool4Skewl]

Unlike Bitcoin, Nxt presently relies solely on brainwallets as the means of user authentication.  There is no "cold storage" alternative offered.

Type anything like

NW948YN3V95YN0PWS93498934N376N095HG857028MEOAWMFYCNOQA789O837QY8

Save it and use as a cold storage passphrase.

The account (16025050820116515852) has 0 coins. Wait a few days and we will probably see something there lol!

We should fund all the accounts of known passphrases with 1 NXT to prevent the use of it.

Good idea, but who will contribute such a huge number of NXT?

How about kill two birds with one stone?
Create a script to send 1 NXT (with 1 more NXT as the tx fee) to the addresses created by the dictionary from the unclaimed account every minute. The tx fee can help to increase a little bit incentive of mining. Moreover, this can be a good penalty to those unclaimed owners.  

This is a great idea!

Sending one Nxt to accounts with bad passphrases wouldn't do anything.  It wouldn't lock the accounts or prevent people from using them.  On the contrary, it would probably encourage individuals to use those accounts with bad passphrases because they would get one free Nxt.

[laowai80]

Sending one Nxt to accounts with bad passphrases wouldn't do anything.  It wouldn't lock the accounts or prevent people from using them.  On the contrary, it would probably encourage individuals to use those accounts with bad passphrases because they would get one free Nxt.

Yeah, that's a wrong way to do it.
The right way is to explain to people what a really good passphrase should be.
Or generate it randomly for them.

[BitThink]

Unlike Bitcoin, Nxt presently relies solely on brainwallets as the means of user authentication.  There is no "cold storage" alternative offered.

Type anything like

NW948YN3V95YN0PWS93498934N376N095HG857028MEOAWMFYCNOQA789O837QY8

Save it and use as a cold storage passphrase.

The account (16025050820116515852) has 0 coins. Wait a few days and we will probably see something there lol!

We should fund all the accounts of known passphrases with 1 NXT to prevent the use of it.

Good idea, but who will contribute such a huge number of NXT?

How about kill two birds with one stone?
Create a script to send 1 NXT (with 1 more NXT as the tx fee) to the addresses created by the dictionary from the unclaimed account every minute. The tx fee can help to increase a little bit incentive of mining. Moreover, this can be a good penalty to those unclaimed owners.  

This is a great idea!

Sending one Nxt to accounts with bad passphrases wouldn't do anything.  It wouldn't lock the accounts or prevent people from using them.  On the contrary, it would probably encourage individuals to use those accounts with bad passphrases because they would get one free Nxt.

It's a kind of warning that this address is not safe.

He cannot use this 1 nxt since each transaction needs at least 1 nxt tx fee.

[Aswan]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

[starik69]

May be simply do not allow to login into accounts with passphrase less than 30 symbols? Many sites do not allow passwords shorter than 8 symbols, many strictly require numbers/upper/lowercase/special symbols in passwords.

[2Kool4Skewl]

Unlike Bitcoin, Nxt presently relies solely on brainwallets as the means of user authentication.  There is no "cold storage" alternative offered.

Type anything like

NW948YN3V95YN0PWS93498934N376N095HG857028MEOAWMFYCNOQA789O837QY8

Save it and use as a cold storage passphrase.

The account (16025050820116515852) has 0 coins. Wait a few days and we will probably see something there lol!

We should fund all the accounts of known passphrases with 1 NXT to prevent the use of it.

Good idea, but who will contribute such a huge number of NXT?

How about kill two birds with one stone?
Create a script to send 1 NXT (with 1 more NXT as the tx fee) to the addresses created by the dictionary from the unclaimed account every minute. The tx fee can help to increase a little bit incentive of mining. Moreover, this can be a good penalty to those unclaimed owners.  

This is a great idea!

Sending one Nxt to accounts with bad passphrases wouldn't do anything.  It wouldn't lock the accounts or prevent people from using them.  On the contrary, it would probably encourage individuals to use those accounts with bad passphrases because they would get one free Nxt.

It's a kind of warning that this address is not safe.

He cannot use this 1 nxt since each transaction needs at least 1 nxt tx fee.

Once they deposit more Nxt, he can use that additional Nxt.  I know your intentions are good, but where would you come up with all that additional Nxt?  There are tons of single words, common phrases, words with a few numbers added, etc which unlock accounts that you'd have to send one Nxt.  Also, Nxt should be in accounts that PoS mine to increase network security and not in unused accounts.

[Sharky444]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

There are 2 decimals, but not usable yet.

[mcjavar]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

There are 2 decimals, but not usable yet.

Decimals could support the rise of the price per NXT as for now you have to pay 1 NXT transaction fees at least. Think about BTC would not be splittable... the price would never be $1000

[Aswan]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

There are 2 decimals, but not usable yet.

That may not be enough. Is it possible to increase the number of decimals (if needed)?

[Come-from-Beyond]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

We have cents, they r not enabled for ordinary payments, but r used in the decentralized exchange.

[Come-from-Beyond]

Don't u think that 1 bil coins is a bit of a small number if they don't have decimals? Is there a way to implement decimals if there is the need for it? How can that scale at all if it gets more and more widely adopted?

There are 2 decimals, but not usable yet.

That may not be enough. Is it possible to increase the number of decimals (if needed)?

Yes, balances r 64-bit numbers. Only 39 bits r used atm.

[NxtChoice]

I have opened my account in one computer and try my luck to get some tx fees, so how about to opened it in another computer? Is it OK for PoS generation? Is those two are both forging at the same time, or only the latest one is ok and the old one is discarded?

[crazybonkers]

Active peers [1]
Known peers [4607]
Blacklisted peers [96]

is the above normal? My account has been running since 0.3.13 release without stopping.   

[Sparky_eMunie]

Is there another exchange besides dgex.com? I don't like waiting 2 days to withdraw coins.

[lophie]

the 100% premined coin, interesting concept....

[Come-from-Beyond]

I have opened my account in one computer and try my luck to get some tx fees, so how about to opened it in another computer? Is it OK for PoS generation? Is those two are both forging at the same time, or only the latest one is ok and the old one is discarded?

Both will be forging.

[Come-from-Beyond]

Active peers [1]
Known peers [4607]
Blacklisted peers [96]

is the above normal? My account has been running since 0.3.13 release without stopping.   

Normal. Refresh the webpage.

[GCInc.]

Is there another exchange besides dgex.com? I don't like waiting 2 days to withdraw coins.

All but cases where there's something not right are generally handled in 6-12 hrs, minutes if you are lucky. The processing speed for withdrawals is improving due to automation being deployed.

Going into fully automated instant withrawals at this phase of NXT development would be madness. Think all the exchanges failed for their hot wallets being stolen.