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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756221 times)
jeff88
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February 20, 2014, 07:23:10 AM
 #35741


NXT added to Cryptosaur, extension for Google Chrome and Opera
See more here: https://bitcointalk.org/index.php?topic=458091

Cryptosaur — cryptocurrency ticker for Google Chrome and Opera. (MAX, DOGE, DGB, QRK, EAC, VTC, Q2C, LTC, UTC, LOT, USDe, LEAF, MEOW, NXT)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
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February 20, 2014, 07:31:18 AM
 #35742

Incorrect text marked with red:


I have some marketing text I've written I would appreciate your comments on.  In particular, please point out any errors.  I am considering distributing this at Texas Bitcoin Conference.  If you see a part of it you want to comment on, PLEASE edit down to just the section you want to discuss.  The last thing I want to do is create slab walls of full quote text here for the next 20 pages...

NXT Vs. Bitcoin

Brainwallet Accessability
Bitcoin requires storing a digital file (the “wallet”) for use on only one computer. NXT allows knowing a short, ultrastrong password (35+ truly random characters) to access NXT funds from anywhere on Earth. Bitcoin has this too.

Network Simplicity
The Bitcoin network requires competitive Proof-of Work (PoW) GHash/sec mining using hi-cost, hi-energy, custom ASIC nodes.  The NXT network uses cooperative Proof-of-Stake (PoS) transparent forging between $35, 4W commodity Raspberry Pi nodes.

Transaction Rapidity
Bitcoin takes 10+ minutes per block for a max throughput of 7 transactions per second (TPS), currently using a 16GB (and growing) blockchain.  NXT currently takes 1 minute per block, with improvements in block timing speedup and routine chain pruning expected to support an eventual 1000 TPS.

True Anonymity
Bitcoin transactions between wallets are recorded forever on its blockchain.  NXT  achieves true transaction anonymity via the no-trust-needed zerocoin (testing now) / zerocash (coming soon) protocol developed at John Hopkins University. Not implemented yet.

Active Community
5000+ NXTers from 50+ countries are united in a vibrant online community.  We don’t just talk, we act.  We’re growing. Come join us!

NXT First 100 Days – WOW!

NXT’s genesis block was cast Nov 28 24, 2013.  Only 100 days later, by early March 2014, NXT has shown it’s more than “just a coin”.  A 2nd generation cryptocurrency written from the ground up in new Java code, NXT has rolled out numerous financial service capabilities that will revolutionize the crypto world – and more are coming!  As an alternative to long, complex transfer addresses, NXT offers a text “alias” registration system on its blockchain with over 60,000 registered in its first 100 days.  NXT has demonstrated a push-button interface for new altcoin creation atop its blockchain that allows ANYONE to create their own new coins, not just a limited  programmer priesthood.  Most significantly, NXT has a parallel testnet CURRENTLY TESTING crypto-signed peer-to-peer asset transfer and blockchain streaming asset quotes.  This unique capability offers an alternative to existing exchanges.  Don’t wait on next year’s teenaged ethereal dreams - join us on NXT Exchange TODAY!
  
Speaking of exchanges: almost a billion NXT has changed hands on numerous exchanges such as Dgex.com or Bter.com.  And Cryptsy is coming!  On Feb 8 Let’s Talk Bitcoin #82 at 13:30, “Big Vern” of Cryptsy commented: "[NXT] is not a cookie cutter coin…technical implementation [at Crypsy] is going to take a little more time...it's popular…it’s fair…I feel comfortable with [NXT].”

The NXT Bottom Line

1,000,000,000 genesis block NXT were  distributed to 73 actually ~100, coz some weren't claimed on time but were sent later founders who responded with a Bitcoin or less to a Bitcointalk [ANN] investment thread that was public and open for six weeks.  You could have been founder 74 101.  Now, with NXT only 100 days old, early mass distribution of “coins” from founders to users is still underway at exchanges like Dgex and Bter.  At this writing, NXT costs under 0.1 mBTC each.  Upcoming events which may drive that price higher include release of full open source code on April 4, inclusion of NXT on Cryptsy, announcement of new features, and an ongoing major advertising push by our Chinese members.

NXT doesn’t mine new coins – it forges (recycles) old ones.  NXT node operators (forgers, in the blacksmith sense of the term) use cheap CPU computers to receive transaction fees imbedded in any blocks they create and add to the NXT blockchain.    As a 100% Proof of Stake coin, forgers are selected to forge new blocks in proportion to the total NXT “coins” (or “stake”) they already own.  This results in a small return on investment proportional to your current holdings– like bank savings account interest.

NXT is not a mined, Bitcoin-based price-pop altcoin of the week.  NXT is creating a new financial ecosystem for use in coming years, based on cheap nodes for the common good.

NXT Is Green

Ecological?  Financial?  BOTH !!!

Bitcoin depends on a small mining node network fighting for their cut of  3600 newly minted 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. 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 by their very nature destined to fail.

NXT solves this problem sustainably.  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.  

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February 20, 2014, 07:33:29 AM
 #35743

Frictionlesscoin is scamming again.

Now, he wants one million Nxt.

Flood his thread with "SCAM" replies.


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CommanderVenus
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February 20, 2014, 07:37:39 AM
 #35744

This is from the faq on the wiki.

Quote
Do I have to leave the client open in order to forge coins?
No.  Once your server is running, simply leave your account "unlocked", and then you can close your web browser.
How do i visually know that my account will stay unlocked? The server window doesnt show any information that had anything to do with accounts? Probably for security reasons, but id like some way of knowing that forging is going on in the background.

I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.

The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?

BTC: 1VenusEubcLC9W7ykckHbdEzo5MVhPmCb
NXT: 15182624396855992605
BTQ: 14b2QFPwFtBC3tcRW9F61aaRXP2ns3fh1m
pinarello
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February 20, 2014, 07:38:58 AM
 #35745



Woah, woah, woah.  I want to call a time out here for a few pages.

I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. 

The infrastructure spending thread has been open for all of about 36 hours.  Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project.  There is NO WAY we have given the proper amount of deliberation to what is being proposed here.   And a vote is being called for already if we haven't achieved agreement as a committee? 

Um...what's wrong with this picture?

I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now.   We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project.  Just for starters.

We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here.  I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy...

I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5?

Instead it's just put your name down as a candidate and you're in?  On as many committees as you want?

So how is voting for funding going to work in a group of people like THAT?

Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH.

I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon..



no problem, I understand, but at least there is some kind of reaction.


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February 20, 2014, 07:41:40 AM
 #35746

I want to make one more point here as an official NXT treasurer.  Those NXT fund spreadsheets in my sig currently document THREE QUARTERS OF A MILLION DOLLARS of assets.  This is with the NXT price apparently still being held down by a whale doing a slow selloff of his funds, with NXT still on the launchpad instead of blasting off for da moon.  In a matter of weeks or a few months we could literally be in control of MILLIONS OF DOLLARS WORTH OF NXT.   This is a HUGE HUGE HUGE responsibility.  Disbursing these assets is not like peeling off a five out of your wallet at McDonalds.  There has got to be a CHAIN OF COMMAND.  The treasurer has got to receive clear, unambiguous, and documented authorization to disburse from a SPECIFIC DESIGNATED SPENDING AUTHORITY that everybody acknowledges. 

It's not as big a deal as making sure you've got Presidential authorization to turn that key in a nuke sub....but I'm treating it that way.  Would you rather have a treasurer who didn't?


I totally agree.

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February 20, 2014, 07:43:25 AM
 #35747


I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.

The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?

hover over the 10+ and you'll see the exact number.
alternatively you can use http://localhost:7874/nxt?requestType=getTransaction&transaction=[your transaction number]

I believe this is a bug of the blockchain explorer, transaction confirmations sometimes get stuck.
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February 20, 2014, 07:48:33 AM
 #35748

Dev Response Requested

As I've mentioned prior, CoinPayments is working on adding Nxt to their offering. Please help me address this question:

"I've been working on NXT some more today and looking at this page
http://wiki.nxtcrypto.org/wiki/Handling_deposits it sounds like
transactions aren't really "safe" and can disappear until they get 720
confirms (~12 hours). Is that right?"

Yes, this is right. The same in Bitcoin.
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February 20, 2014, 08:05:17 AM
 #35749


I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.

The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?

hover over the 10+ and you'll see the exact number.
alternatively you can use http://localhost:7874/nxt?requestType=getTransaction&transaction=[your transaction number]

I believe this is a bug of the blockchain explorer, transaction confirmations sometimes get stuck.

Also try block explorer at http://www.mynxt.info/blockexplorer/

NXTtechdevfund  GPG Key ID: 0x903BC112
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February 20, 2014, 08:20:20 AM
 #35750


How do i visually know that my account will stay unlocked? The server window doesnt show any information that had anything to do with accounts? Probably for security reasons, but id like some way of knowing that forging is going on in the background.

There's the "getState" command, that shows you how many unlocked accounts your NRS instance has, among other things:

Code:
http://localhost:7874/nxt?requestType=getState

...but there's no forging indicator. Devs: How about adding a command that returns the unlocked accounts plus if they're forging or not? Something like

Code:
?requestType=getForgingStatus

That would return something like

 
Code:
[ {"account" : "..." , forging: true}, {"account" : "..." , forging: false}, ... ]

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February 20, 2014, 08:22:36 AM
 #35751

Dev Response Requested

As I've mentioned prior, CoinPayments is working on adding Nxt to their offering. Please help me address this question:

"I've been working on NXT some more today and looking at this page
http://wiki.nxtcrypto.org/wiki/Handling_deposits it sounds like
transactions aren't really "safe" and can disappear until they get 720
confirms (~12 hours). Is that right?"

Yes, this is right. The same in Bitcoin.
means difficult to come true instant transaction ?

 
                                . ██████████.
                              .████████████████.
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February 20, 2014, 08:26:42 AM
 #35752

Woah, woah, woah.  I want to call a time out here for a few pages.

I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. 

The infrastructure spending thread has been open for all of about 36 hours.  Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project.  There is NO WAY we have given the proper amount of deliberation to what is being proposed here.   And a vote is being called for already if we haven't achieved agreement as a committee? 

Um...what's wrong with this picture?

I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now.   We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project.  Just for starters.

We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here.  I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy...

I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5?

Instead it's just put your name down as a candidate and you're in?  On as many committees as you want?

So how is voting for funding going to work in a group of people like THAT?

Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH.

I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon..

 Grin
Was wondering when this would come.

Agreed, of course Smiley
Someone already proposed subforums and separate threads for each project to facilitate discussions.
That seems like a good idea, so the to be formed committees have an easier time of it.

The run up period will also give the projects now in the threads time to gather material to present to the committees to support their claim for funds.
That's what normally happens when you apply for funds and I see no reason why we shouldn't do it the same way.


Member of the Nxt Foundation | Donations: NXT-D6K7-MLY6-98FM-FLL5T
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February 20, 2014, 08:36:29 AM
 #35753


Well, don't wanna take the wind out of your sails, but that doesn't sound to me like they decided to add Nxt. To me that sounds like Nxt is under consideration among with other coins, but has good community support so thats a plus.

Just added my 2 cents worth at http://www.reddit.com/r/CryptoCurrency/comments/1ycym4/bittrex_supports_17_markets_today_are_there_any/?sort=new (under the handle netphrophet)  Smiley

Quote
Although I'm relatively new to the cryptocurrency scene and am still on a steep learning curve, I rate NXT very highly, first because it is cheaper and faster than Bitcoin, second because new coins can be built on top of it (making it an economic platform) and last but by no means least, the very strong community behind it.

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February 20, 2014, 09:13:57 AM
 #35754

I want to make one more point here as an official NXT treasurer.  Those NXT fund spreadsheets in my sig currently document THREE QUARTERS OF A MILLION DOLLARS of assets.  This is with the NXT price apparently still being held down by a whale doing a slow selloff of his funds, with NXT still on the launchpad instead of blasting off for da moon.  In a matter of weeks or a few months we could literally be in control of MILLIONS OF DOLLARS WORTH OF NXT.   This is a HUGE HUGE HUGE responsibility.  Disbursing these assets is not like peeling off a five out of your wallet at McDonalds.  There has got to be a CHAIN OF COMMAND.  The treasurer has got to receive clear, unambiguous, and documented authorization to disburse from a SPECIFIC DESIGNATED SPENDING AUTHORITY that everybody acknowledges. 

It's not as big a deal as making sure you've got Presidential authorization to turn that key in a nuke sub....but I'm treating it that way.  Would you rather have a treasurer who didn't?


I'm glad rickyjames is being conservative in distributing the funds.  The allocation of the community Nxt fund should be done with great care and thought.  Don't blow through all of it quickly.  The longer the funds are held the more valuable they will become and the more projects you can fund.

It's my belief that dollar parity is going to be here sooner than we all think.  Remember no more Nxt is being created.  We this happens the community will have $9 million at its disposal to fund projects.

Regardless of the USD value of the community Nxt fund remember, "You can only spend a dollar once."

Complete agreement, we don't need to rush this. I know a day can be a long time in crypto, but we are building something for the future here. Work smart, not just fast.

DO NOT PAY ANY MONEY TO HAVE NXT LISTED ON AN EXCHANGE!

THIS IS A MOVEMENT ABOUT FREEDOM FROM UNETHICAL PRACTICES!

NXT CAN STAND ON ITS OWN!

Sometimes, we have to push things a little bit. But this "pay to be on exchange" smells a little fishy, yes.
Bribing exchanges to list NXT is a very short sighted (not to mention unethical) strategy.
We can better spend our hard-won NXT on getting a package together to help exchanges with NXT integration. I have a feeling opticalcarrier was going to look into it...... it should be a priority, anyhow.
If we make listing NXT as simple as listing any one of the zillion scrypt coins, then exchanges will come 2 us.


And yeah, bloody Frictionless again......please be as unfriendly to him as possible:
https://bitcointalk.org/index.php?topic=422052.msg5237653#msg5237653
 His idiot nex scam is only going to bring NXT harm.
It is his stated aim to destroy NXT, and while I am pretty sure he won't manage that, he could confuse people who may make the mistake of associating his scam attempt with us......


Lastly: I'm still claiming me and TwinWinNerd as winners of the first physical item purchase via NXT award, unless I see some evidence to the contrary.
@punkrock: did u sell your BF4 keys for NXT?

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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February 20, 2014, 09:17:18 AM
 #35755

how do i add a pic on this? just downloaded dotnxt client and a error message came up saying report this to the devs? took a screen shot of the message but i dont no how to add it in a msg here?



Use Tinypic for your pic uploads, it gives u all the code u ned to embed yr images painlessly.
http://tinypic.com/
U dont even have to register......

Nulli Dei, nulli Reges, solum NXT
Love your money: www.nxt.org  www.ardorplatform.org
www.nxter.org  www.nxtfoundation.org
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February 20, 2014, 09:26:34 AM
 #35756

...
DO NOT PAY ANY MONEY TO HAVE NXT LISTED ON AN EXCHANGE!

THIS IS A MOVEMENT ABOUT FREEDOM FROM UNETHICAL PRACTICES!

NXT CAN STAND ON ITS OWN!

Sometimes, we have to push things a little bit. But this "pay to be on exchange" smells a little fishy, yes.
Bribing exchanges to list NXT is a very short sighted (not to mention unethical) strategy.
We can better spend our hard-won NXT on getting a package together to help exchanges with NXT integration. I have a feeling opticalcarrier was going to look into it...... it should be a priority, anyhow.
If we make listing NXT as simple as listing any one of the zillion scrypt coins, then exchanges will come 2 us.
...
What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

hello, world!
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February 20, 2014, 09:29:30 AM
 #35757

how far are we from decentralized P2P exchanges? Smiley

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
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February 20, 2014, 09:29:48 AM
 #35758


Woah, woah, woah.  I want to call a time out here for a few pages.

I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. 

The infrastructure spending thread has been open for all of about 36 hours.  Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project.  There is NO WAY we have given the proper amount of deliberation to what is being proposed here.   And a vote is being called for already if we haven't achieved agreement as a committee? 

Um...what's wrong with this picture?

I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now.   We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project.  Just for starters.

We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here.  I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy...

I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5?

Instead it's just put your name down as a candidate and you're in?  On as many committees as you want?

So how is voting for funding going to work in a group of people like THAT?

Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH.

I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon..

+1440 !

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, the Next platform.  Magis quam Moneta (More than a Coin)
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February 20, 2014, 09:33:01 AM
 #35759

I'm happy to announce that TwinWinNerD has just bought some of my lovely stickers.
Yay!
77 NXT for 5 stickers+postage, its a bargain.


Which made me think: Is this transaction the first time someone has purchased a physical item in exchange for NXT ?
I can't believe no-one has done it before us, but I don't remember seeing anything earlier on in this thread.



Someone on nextcoin.org purchased 2 pizza's a month ago to go into history as the guy who paid a GAZILLION for 2 pizza's  Grin
https://nextcoin.org/index.php/topic,2482.msg25908.html#msg25908

NXT: Next Generation of Cryptocurrency http://nxtcrypto.org
NEM:New Economy Movement http://www.ournem.com/
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February 20, 2014, 09:36:54 AM
 #35760

´What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

Paying is OK, the bidder contest is wrong.
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