NXT :: descendant of Bitcoin - Updated Information

[sussex]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

[martismartis]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

Did you wait until complete blockchain loads?

[sussex]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

Did you wait until complete blockchain loads?

Ok guys, as usual I've jumped the gun!!  

I have found my NXT!! Presumably my Pi is on a forked chain and my p/w is logging me into the wrong account, everything is fine on windoze.

Anyway, problem solved, experience gained - thanks for your help.

I would say one thing however, the NXT client needs to be much more friendly and easier to install for noobs, I can imagine it being quite intimidating upon first acquaintance.

Thanks again you cats  

EDIT:

OK, one more thing.......

To re-download the blockchain on the Pi, I understand that I need to delete blockchain.nxt, transactions.nxt and a few backups, but where are these files? I can't see them in the NXT folder and a search doesn't find them. Have the filenames changed during a version update?

[xcn]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

Did you wait until complete blockchain loads?

Ok guys, as usual I've jumped the gun!!  

I have found my NXT!! Presumably my Pi is on a forked chain and my p/w is logging me into the wrong account, everything is fine on windoze.

Anyway, problem solved, experience gained - thanks for your help.

I would say one thing however, the NXT client needs to be much more friendly and easier to install for noobs, I can imagine it being quite intimidating upon first acquaintance.

Thanks again you cats  

EDIT:

OK, one more thing.......

To re-download the blockchain on the Pi, I understand that I need to delete blockchain.nxt, transactions.nxt and a few backups, but where are these files? I can't see them in the NXT folder and a search doesn't find them. Have the filenames changed during a version update?

Versions 0.7.x use nxt_db for the blockchain storage

[sussex]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

Did you wait until complete blockchain loads?

Ok guys, as usual I've jumped the gun!!  

I have found my NXT!! Presumably my Pi is on a forked chain and my p/w is logging me into the wrong account, everything is fine on windoze.

Anyway, problem solved, experience gained - thanks for your help.

I would say one thing however, the NXT client needs to be much more friendly and easier to install for noobs, I can imagine it being quite intimidating upon first acquaintance.

Thanks again you cats  

EDIT:

OK, one more thing.......

To re-download the blockchain on the Pi, I understand that I need to delete blockchain.nxt, transactions.nxt and a few backups, but where are these files? I can't see them in the NXT folder and a search doesn't find them. Have the filenames changed during a version update?

Versions 0.7.x use nxt_db for the blockchain storage

Great, thanks for that, should I just delete the entire folder?

[xcn]

Thanks for the quick reply.

I am using 0.7.5 which I d/loaded from nxtcrypto.org.

Would being on a fork mean my password logs me into the wrong account number? Remember, I can't find anything in the explorer either.

I am presently putting the client on my Windows machine to see if that helps.

Did you wait until complete blockchain loads?

Ok guys, as usual I've jumped the gun!!  

I have found my NXT!! Presumably my Pi is on a forked chain and my p/w is logging me into the wrong account, everything is fine on windoze.

Anyway, problem solved, experience gained - thanks for your help.

I would say one thing however, the NXT client needs to be much more friendly and easier to install for noobs, I can imagine it being quite intimidating upon first acquaintance.

Thanks again you cats  

EDIT:

OK, one more thing.......

To re-download the blockchain on the Pi, I understand that I need to delete blockchain.nxt, transactions.nxt and a few backups, but where are these files? I can't see them in the NXT folder and a search doesn't find them. Have the filenames changed during a version update?

Versions 0.7.x use nxt_db for the blockchain storage

Great, thanks for that, should I just delete the entire folder?

You can delete /nxt_db/ folder to redownload blockchain from scratch

[Come-from-Beyond]

- so, it is definitely something wrong with the consensus mechanism now ...  because you need to manually recover your nodes from the fork.

Consensus mechanism requires working TF.

[bitmadaboutcoin]

i was thinking.. the learning curve involved with nxt and crypto in general is very steep and allot of people give up fairly fast because they wont put money into something they dont understand and if they dont understand it how can they trust it.. i think there needs to be some sort of live help messaging/skype chat line to help people that are interested but struggle to get a grasp of it...

when you want mass addoption you need 3 things..

1. how do you get people in the front door? marketing.. and lots of it!

2. how you get them to reach the "ah ha" moment as fast as possible?

      i think all the tutorials and videos and texts that have been written are still to "techy" for regular joe soaps that still dont know mainstream media is corrupt
      i think it needs to be dumbed down so much your seven year old child could teach himself in a 1 min what it is and how to use it and what to use it for
      trying to explain what a block chain is to joe soap is like trying make a cat swim..
      
3. how do you deliver core product value as often as possible?

nxt does this but people just dont know it yet. they need the 1st 2 steps down and when they do they will see this straight away! more so when fees are lowered (if they are lowered), there is one video on nxt that is very good

http://www.youtube.com/watch?v=IsKPyq_zL5g

i think this video should be one the home page of the new nxt.org site.. if that goes ahead!

and mayby a step by step on how to buy nxt.. i mean every click.. downloading the wallet. which exchange to buy bitcoin from.. which exch to buy nxt from how to put bitcoin on the exchange, how to place an order and how to withdraw the nxt to your wallet.. it really does need to be that in depth.. otherwise ppl get lost and give up. .you may laugh but people are that dumb!  happened to a friend of mine.. i told him all the sites.. he couldnt work it out in 20 -30 mins so he gave up... hes not techy what so ever.. i mean doesnt know ctrl+c is copy.. or what the tab button does...

 if you want mass adoption these people need to "get it" straight away...

[Fatih87SK]

CfB,

Since you posted this song (I don't remember when you did);

http://www.youtube.com/watch?v=P8ymgFyzbDo&list=FLICG86jx_ncx09vQfCo1Ayw&index=3

I'm addicted to it and listen to it everyday  

[Isildur23]

CfB,

Since you posted this song (I don't remember when you did);

http://www.youtube.com/watch?v=P8ymgFyzbDo&list=FLICG86jx_ncx09vQfCo1Ayw&index=3

I'm addicted to it and listen to it everyday  

hahahhahah, same here!!!

[stereotype]

CfB,

Since you posted this song (I don't remember when you did);

http://www.youtube.com/watch?v=P8ymgFyzbDo&list=FLICG86jx_ncx09vQfCo1Ayw&index=3

I'm addicted to it and listen to it everyday  

If its confessional time, this is mine..... http://hellomaxmin.com/songs/taking-my-mind/

[Come-from-Beyond]

Subtract all of the targets on chain a, subtract all of the targets on chain b, see which number is larger.

Subtract from what?

technically it doesn't matter but probably zero would be the most strait forward.

Err, so what about summing them up and see what number is smaller? Sounds easier to explain to most people.

CfB said the next block will decide; still waiting for the how.

According to Wiki TF decides the next forger dependent on the previous block. So, if there is a partition of the network N1 and N2, then the nodes in these two different partitions have different TF outputs.

So, there are two cases: (next blocks/accounts are C, C' (part of N1) and D (part of N2); TF1 and TF2 are the output of TF of N1 and N2 respectively)
1) TF1 says C; TF2 says D => branches will get longer as foreign blocks get rejected
2) TF1 says C; TF2 says C' => C will get accepted; C' will get rejected as N1 expects C => What does N2? I would say: penalize C', ignore C and move on on its branch.

Still don't see how this conflict can be resolved. I need some idea for that.

bump

Nxt uses Bitcoin's consensus rule. How would Bitcoin resolve this conflict?

[punkrock]

>>>>>>>>>>>>>>> PLEASE VOTE! <<<<<<<<<<<<<<<

Unregistered users are allowed up to 3 votes per hour, whilst registered users are allowed 6 votes per hour!

Please quote me, share on Twitter, Facebook, Reddit... thanks!

[sussex]

Ok, I have deleted nxt_db and started to d/l the blockchain.

However, when I start the client I immediately get the error:

Warning: System properties or JVM args set. Consider using..........

Googling this I find that I should delete the blockchain because it will be corrupted, but I have only just started the client and there is no blockchain to delete.

This is Linux on a raspberry pi.

Again, any help much appreciated

[punkrock]

Warning: System properties or JVM args set. Consider using..........

You can ignore this warning.

https://nextcoin.org/index.php/topic,3440.0.html

[sussex]

Warning: System properties or JVM args set. Consider using..........

You can ignore this warning.

Ok, but I have restarted the client on the Pi with a fresh blockchain and my password is again logging me into the same, erroneous account.

I have been at this for ages now and have redownloaded the blockchain several times, but I always get this logging in error on the Raspberry Pi - it always take me to the same empty account.

I was hoping to use the Pi as a 24/7 node to help the network along a bit, but this is looking increasingly unlikely.

Baffling.

[wesleyh]

Warning: System properties or JVM args set. Consider using..........

You can ignore this warning.

Ok, but I have restarted the client on the Pi with a fresh blockchain and my password is again logging me into the same, erroneous account.

I have been at this for ages now and have redownloaded the blockchain several times, but I always get this logging in error on the Raspberry Pi - it always take me to the same empty account.

I was hoping to use the Pi as a 24/7 node to help the network along a bit, but this is looking increasingly unlikely.

Baffling.

It takes 30 minutes or more for blockchain to catch up on rpi. Did you wait this long?  Check http://localhost:7874/nxt?requestType=getState and look at the numberOfBlocks. It should be +69,000

[LiQio]

Hey guys, how much NXT do I actually need to forge some blocks?

I currently have 10, yes ten, no not 10K, and it says that I can generate a block in 22429 days... Is this for real?  

Thanks!

Even with 100k nxt you will not make any money forging so get that mentality out of your head from the start and welcome to the beginning of the rest of your life.

I've been trying to learn more about forging (transparent forging) and you raise the exact issue I am looking to resolve as a recent investor. You make it sound like 100,000 NXT is not enough to forge.

I am a miner at heart and like the idea of forging but the more I read about NXT, it seems that only the original stakeholders (or those with a huge number of NXT) are the ones who can successfully forge (gain/accumulate NXT)? How many NXT are needed to forge and what returns could one expect from say 500,000 NXT? Does the chance to forge change over time, i.e. what variables other than my account holdings and online status as a node affect forging success?

This issue has been difficult to get my head around as a recent adopter. I have not forged any NXT since opening my account (20,000 NXT) a few weeks ago and it sounds like from your response that this number is a laughing matter...I will never forge with that amount. Could some one provide some insight or a link to where forging and returns are discussed?

http://wiki.nxtcrypto.org/wiki/FAQ#Forging

with 100k you'll forge a block every couple of days - but NXT is not about forging

Thanks. I read the link and wonder if you could elaborate on your point that NXT is not about forging?

just as a clarification: when I used the word forging above I used it as a synonym for mining.

mining is basically used to secure the network - this is important. for bitcoin and the like it is essential and the incentives (= block rewards) designed to make people mine (we will see what happens when all coins are mined...)

now what's the fun in mining: you have hardware and software that you can tweak, monitor, run statistics, and you get happy when you mine a block or your pool mines a block. along the way the rewards diminish and you basically waste a lot of resources (power from the plug, stupid asics that turn worthless every couple of weeks, a lot of your time, ...). therefore you try to be the first to run the next generation of mining hardware which gets you over-average returns. this gives you another kick, because you're never sure if the gpu overheats, asic gets delivered on time, other manufacturers already did better, etc.
maybe you like mining for other reasons, but to me mining is because of the said things pretty stupid yesterday.

NXT uses forging to secure the network - important and needed, but what makes NXT stand out is not (at least imo) the fact, that the miners get a bit richer, it's the possibilities of the ecosystem. I'm sure that within a couple of months there will exist a coin on top of NXT that makes the miners more happy, this as a side note...
but what is really important: not that you receive more than you have when holding on to it or investing in new hardware. the goal is to have a working crypto ecosystem that let's you buy things securely and anonymously, that let's you exchange assets securely and easily, that let's you communicate with other without being monitored, that can be used as a base for other undertakings... and where the groundwork is not based on terawatts and terahashes - I'm not good with marketing stuff and this has been summarized better by others - but I hope you get my point.

At the current stage I believe that buying NXT will give you a lot in return, because it is still cheap and for the fun factor you miss from classical mining, you can visit this thread and watch the development of this little plant (or baby to borrow Anons word) to become a giant tree 

[rickyjames]

Hey guys, how much NXT do I actually need to forge some blocks?

I currently have 10, yes ten, no not 10K, and it says that I can generate a block in 22429 days... Is this for real?  

Thanks!

Even with 100k nxt you will not make any money forging so get that mentality out of your head from the start and welcome to the beginning of the rest of your life.

I've been trying to learn more about forging (transparent forging) and you raise the exact issue I am looking to resolve as a recent investor. You make it sound like 100,000 NXT is not enough to forge.

I am a miner at heart and like the idea of forging but the more I read about NXT, it seems that only the original stakeholders (or those with a huge number of NXT) are the ones who can successfully forge (gain/accumulate NXT)? How many NXT are needed to forge and what returns could one expect from say 500,000 NXT? Does the chance to forge change over time, i.e. what variables other than my account holdings and online status as a node affect forging success?

This issue has been difficult to get my head around as a recent adopter. I have not forged any NXT since opening my account (20,000 NXT) a few weeks ago and it sounds like from your response that this number is a laughing matter...I will never forge with that amount. Could some one provide some insight or a link to where forging and returns are discussed?

Sorry to say, if you cut away the smoke and mirrors NXT is not a way to make money by mining or forging.  NXT makes mining obsolete by making the required infrastructure so cheap that it's going to happen as a low -cost NXT community effort just because we want it to happen.

Here's some words I'm writing for distribution in Texas:

NXT Is Green

Ecological?  Financial?  BOTH !!!

Bitcoin depends on a small network of mining nodes who support their operations by generating a fixed profit of 3600 bitcoins per day.  The available daily operating budget to keep Bitcoin from freezing up is thus $3.6M or less (at $1K/BTC or under) to  generate the current 25 million GHash/s needed daily.  A representative miner “pickaxe” is a Butterfly Labs Monarch costing $2000 and using 350W of power to produce 600 GHash/sec. Thus the current Bitcoin mining network has sunk unit infrastructure costs of at least $83 million and (at $0.10/KwH) ongoing electricity costs of at least $35,000 per day.  

Both costs are rising faster and faster. Exponential growth of Bitcoin’s hashrate (see blockchain.info/charts/hashrate) means mining rigs and energy use will skyrocket out of control, sooner rather than later.  Bitcoin, and clones like Doge, are thus by their very nature destined to fail.

NXT is the sustainable solution to this problem.  By using cooperative transparent forging, not competitive gigahash mining, NXT does not have an exponential forcing function at its core that drives its costs and energy consumption ever higher.  A NXT blockchain support network of 1000 Odroid U3 nodes has a one-time unit infrastructure cost of only $60 thousand and uses only $48 per day in electricity – forever.  


 

[TwinWinNerD]

Hey guys i need some help!

The reddit-tip-bot went opensource now and i need someone to check the code before i release the Bounty to the dev. Can someone please do this?

Please please

The source code resides in https://github.com/nxtip/nxtip and is GPLv2 licensed!

The bot is based on ALTCoinTip, with some extra files that emulate the bitcoind daemon behavior as far as ALTCoinTip is concerned, plus handle the deposits. See the src/ctb/nxtip* files.

Contact me, there might be a bounty for the code checking!