NXT :: descendant of Bitcoin - Updated Information

[bitcoinpaul]

Does the NRS have plans for an auto-update feature in the future? So we don't get nodes a few versions behind the latest one?

Maybe like a pop-up or some scrolling text somewhere that states "an update is available" or something along those lines.

It was planned at the beginning but it might not be anymore...

Yeah I remember the talk from before...

...

I just was asking since I remember seeing that there was someone still on NRS 0.4.* and got people on 0.7.5/0.7.6/0.8.0e/etc. this morning on the active nodes...

Beware of centralization.

[QBTC]

i hope ive made it clear that any exchange can consult with me for free on NRS/NXT design/operation for integration into their exchange.

Your offer has been tweeted and posted to FB and Google. Looking for retweets to get it in front of the right people. @nxtcrypto

It'll be in tomorrow's NXT News Daily.

[Jerical13]

Has there been any thought or moves to marketing directly to groups that may benefit from using NXT? i.e. Trade Unions, Chambers of Commerce maybe Small or local government bodies? This type of marketing would be fairly cheap; Only involving time and not much $ to get rolling on. NXT could be made to seem very appealing to these types of organizations if presented in the right way.

I think we would lose all credibility if we were being used by local government bodies.

I was thinking not in terms of direct use of the NXT currency, but by use of the asset exchange. Trade unions, and government bodies can by means of contract or legislation create demand for assets that they could generate on the AE. For example a union could negotiate into their contract that a portion of their pension be funded with an asset that they create, and any signatory contractor that employed any of that unions workers would be bound to invest in that asset. This would benefit the unions in the same way that the original block genesis of NXT benefited the stake holders. They would have control of the assets availability and thus the value of the asset. The contractor would not be at a disadvantage as they would have to pay the same amount out for the pension wether it were paid in FED. RESERVE notes or cryptos. The holders of the asset would gain from the increase in value of the asset as it were sold on the market, and could generate the asset for free and have control over its availability. It could work in a similar way for any body that could leverage a demand through contract or legislation. They wouldn't be endorsing the NXT currency directly, but would be forced to participate to a certain degree to use the AE. These types of groups may be easy to influence as they stand to profit with very little investment and could have direct control over the asset.

Just a thought.

Not trying to downplay the importance of exchanges, but  exchanges will also follow the laws of supply and demand. The more we make NXT desirable the more exchanges will want to trade it. Plus this is another avenue to pursue that would require little else than some ones time to implement.

[EvilDave]

@opticalcarrier: how do you feel about setting up an exchange implementation group, as outlined below?
Might be bounty in it for ya......

I vote that we don't.
We have talented guys in NXT that have been helping with exchange implementation (opticalcarrier springs to mind, + others).
If we spent the 100 kNXT bounty on financing these guys to set up an exchange implementation workgroup and get them to fully document their procedures, we can get a package together that will allow all exchanges to implement NXT without the technical problems that so many seem to be having.

Helping, documenting, spreading the implementation info and providing support will pay off way better in the long run than simple bribery.
Again, if providing tech help doesn't cut it, then we can try bribery.

Don't forget, we just blew something like 2-3 BTC on MintPal and they then turned around and said: "Sorry , we don't understand NXT, how about some nice TeslaCoin instead? "

I say we offer them 20k Nxt for testing purposes along with the help of our devs.  You could even tell Cryptsy that BTC38 and BTC-e are adding Nxt and vice versa.  Tell them it was an easy implementation with the help of our devs.

[EvilDave]

Does the NRS have plans for an auto-update feature in the future? So we don't get nodes a few versions behind the latest one?

Maybe like a pop-up or some scrolling text somewhere that states "an update is available" or something along those lines.

It was planned at the beginning but it might not be anymore...

Yeah I remember the talk from before...

...

I just was asking since I remember seeing that there was someone still on NRS 0.4.* and got people on 0.7.5/0.7.6/0.8.0e/etc. this morning on the active nodes...

Beware of centralization.

Yeah...auto-update: everyone gets the same bug at the same time.

[wakasaki808]

Does the NRS have plans for an auto-update feature in the future? So we don't get nodes a few versions behind the latest one?

Maybe like a pop-up or some scrolling text somewhere that states "an update is available" or something along those lines.

It was planned at the beginning but it might not be anymore...

Yeah I remember the talk from before...

...

I just was asking since I remember seeing that there was someone still on NRS 0.4.* and got people on 0.7.5/0.7.6/0.8.0e/etc. this morning on the active nodes...

Beware of centralization.

Yeah...auto-update: everyone gets the same bug at the same time.

doesn't even have to be an automatic-update just something to inform people an update is available. People could then decide to use it or wait but at least know an update is out there.

Like how on the top of btt forums it says "News: Bitcoin 0.8.6 is now available. Download. (https://bitcoin.org/bin/0.8.6/)" Something like that. Not everyone uses the Bitcoin-qt(I use Mulitibit) but for the people that do they show an update is out to download.

As I remember from the beginning

Well, guys. Here are some Best practices:

1. Do NOT use very old versions. "0.2.3" can include expired transactions into blocks, which will never be accepted by "0.2.9" leading to independent forks.
2. Do NOT set very short deadline. If a blockchain reorganization happens expired transactions won't be included into blocks.
3. Do NOT send the same transactions twice. The network is fragmented and ur node can lose a message with ur transaction (it's processed only if sent back), but it still can be visible by other nodes. Resend the transaction only if it's not confirmed and expired.

And don't forget what CONFIRMATION are for. 10 confirmations ~ 1 Bitcoin confirmation. Blockchain reorg can happen up to 720 blocks back. If u receive big amounts it's better to check the coins are on ur balance after 720 confirmations.

which is why I always thought by the mindset of its best to be on the latest NRS.

[EvilDave]

The 2014 Bitcoin Conference Amsterdam 15-17 May!
http://bitcoin2014.com/

Info on sponsorship levels (ie stands):
http://www.pdf-archive.com/2014/02/26/euros-bitcoin2014sponsorshipandexhibitoropportunities1/


I'd like to propose myself and Damelon as official conference co-ordinators (if D. is up for it)
I/We should bear the responsibility of making sure that this conference goes as smoothly and professionally as possible, with a minimum of last minute panic. Hopefully....

I know that May seems like a long way away, but its actually only 11 weeks to go......

So here is a short list of things to worry about:

Sponsorship level: looks like 'Contributing Sponsor' level gives the most bang for our buck:

Contributing sponsor
● Logo on conference website and
Guidebook app on Sponsors page
● Full exhibitor package as outlined below
with priority choice of exhibit placement
● 1 full conference registration included
€1,500, including:

Exhibitor Package:
● Includes flannel-walled exhibit stand with
built-in spot lighting, your company name
and tailor-made backwall image
● Sponsors will have first choice of exhibit
placement and remaining spaces will be
determined on a first-come basis.
● Additional services (flooring, furniture
etc) can be tailored at the request of the
exhibitor, if requested and paid in
advance. An exhibitor brochure and
services manual will be sent to all
exhibitors ahead of the event.
● NB - Exhibitors are requested not to bring
their own banners/stands but to make use of
the existing built-in branding provided. Staff
and content of stand requires pre-approval.

Number of tickets. We get one full reg included with the above deal. Other tickets will cost €370-€420, so it's not cheap.

Speakers/panel members/stand promo team. Need guys with serious knowledge to participate in panels, give talks. Less knowledgeable types such as myself can work the stand. WE NEED VOLUNTEERS, anyway.

Promo material: clothing, brochures, biz cards, stickers, giveaways, RaspPiSolar.....any other ideas?

Support: transport, accomodation etc for attendees.

There's probably going to be a few more things to worry about, but these are the main points.
I'm going to work on some more planning and a budget over the weekend.

What I really, really want to see are some volunteers to work the event, give talks and go on panels.

This is a repost from Nextcoin.org:
https://nextcoin.org/index.php/topic,4225.0.html

If u have anything concrete to add, please post/re-post in the Nextcoin.org thread. Ta very much.

[CoinTropolis_JustaBitTime]

Here's the companies I've emailed concerning Klee's 1 million Nxt donation. Not only did I include a link to the press release, I also pointed the writers to information about Nxt on nxtcrypto.org.


Update 1:

Forbes
Bleacher Report
Irish Independent
The Verge
CNNMoney
AllThingsd
The Guardian
Coindesk
Tech Crunch
IB Times
Washington Post
Digital Trends
WSJ
Wired
LA Times
Cinc. Business Courier
Zdnet
Entrepreneur
Bloomberg
VentureBeat
Cnet

Note: Each message was to individual writers that have covered Bitcoin related stories in the past. I will send emails to the general publication contact addresses in future updates tonight.

[EvilDave]

Here's the companies I've emailed concerning Klee's 1 million Nxt donation. Not only did I include a link to the press release, I also pointed the writers to information about Nxt on nxtcrypto.org.


Update 1:

Forbes
Bleacher Report
Irish Independent
The Verge
CNNMoney
AllThingsd
The Guardian
Coindesk
Tech Crunch
IB Times
Washington Post
Digital Trends
WSJ
Wired
LA Times
Cinc. Business Courier
Zdnet
Entrepreneur
Bloomberg
VentureBeat
Cnet

You'd be better off including a short piece about NXT as a part of the press release.
Give them exactly want you want them to print, don't expect journalists to actually do some research.

But +1 anyway, good work.
Try the BBC news website, btw, lots of smaller newspapers and sites just steal stories directly from them.

[salsacz]

I hope so they won't feel spammed by Nxt, because I was sending them other texts in last days

[Damelon]

I hope so they won't feel spammed by Nxt, because I was sending them other texts in last days

Being spammed is their JOB!

[CoinTropolis_JustaBitTime]

Here's the companies I've emailed concerning Klee's 1 million Nxt donation. Not only did I include a link to the press release, I also pointed the writers to information about Nxt on nxtcrypto.org.


Update 1:

Forbes
Bleacher Report
Irish Independent
The Verge
CNNMoney
AllThingsd
The Guardian
Coindesk
Tech Crunch
IB Times
Washington Post
Digital Trends
WSJ
Wired
LA Times
Cinc. Business Courier
Zdnet
Entrepreneur
Bloomberg
VentureBeat
Cnet

You'd be better off including a short piece about NXT as a part of the press release.
Give them exactly want you want them to print, don't expect journalists to actually do some research.

But +1 anyway, good work.
Try the BBC news website, btw, lots of smaller newspapers and sites just steal stories directly from them.

You bet, BBC is on the list.  I've also included information about Nxt directly in the emails.  I agree about adding Nxt information in the press release, it would be a big help if this was accomplished.

[CoinTropolis_JustaBitTime]

A special thank you from Songs of Love:

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

[bitcoinpaul]

A special thank you from Songs of Love:

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

Very cool!

[EvilDave]

@CoinTropolis_JustaBitTime

Have u guys got The Register on your list?
http://www.theregister.co.uk/

They've currently got MtGox as one of their headline stories, and are a real go-to site for the pro geek/nerd community.

[jl777]

@CIYAM: Is there a special reason for taking this approach

Code:

         int divisor = rand( ) % 10;

         if( divisor == 0 )
            ++divisor;

         weights[ i ] = ( rand( ) % 10000 ) * ( balances[ i ] / divisor );

instead of taking an approach equivalent to the nxt implementation?
Something like

Code:

         weights[ i ] = ( rand( ) % 10000 ) / balances[ i ];

Am pretty sure that whether you pick the "highest" or "lowest" is not relevant - so although not identical in coding it is statistically equivalent.

If you'd like to change it and try please post the results (especially if that percentages or "lucky runs" change much).

BCNext's code takes advantages of seemingly magical numerical ratios, kind of like Tesla's hand tuned coil designs. Have you verified that ordinary rand() has anywhere the same distribution as the current method based on crypto calculation values? BCNext could fully understand how the sequence progresses in what is a pseudorandom fashion and I highly doubt that the behavior of rand() has the right properties. If it did, why dont we see the rand() function used in forging? [Of course all nodes using same seed].

I think the reason is that it took a lot of experimentation to find a pseudo-random algo that had the desired properties. For the simulation to have weight in my mind, it would need to use the same method used by NXT. The injected fatal flaw could be that the EXACT specific genesis block values are needed for the network to be stable. Any haphazard initial condition could allow a 51% attack or some other attack. Just changing the initial conditions could change network stability, let alone totally changing the method of generating the pseudorandom number or how that number is used.

My prediction is that in April, the current partial TF algo will change DRAMATICALLY and all this worry is for naught. Again, I counsel against performing brain surgery with a chain saw, or even think about doing it, especially blindfolded.

James

[CoinTropolis_JustaBitTime]

@CoinTropolis_JustaBitTime

Have u guys got The Register on your list?
http://www.theregister.co.uk/

They've currently got MtGox as one of their headline stories, and are a real go-to site for the pro geek/nerd community.

Yup, on the list. I was in contact with The Register since Feather did their first interview with them.

[jl777]

I don't get your idea, or I get it. I don't know.

Instead of leasing forge power, you commit with your account to share fees among others in the same "share fee group" if you forge a node. You still try to forge a block on your own, but you commit to share the incentive with others if you are successful (with special conditions like committing to run the node for some time, ...). Could this be done with AT and would that make sense?

there really isnt much point in this mechanism.  what you are describing is basically a rube goldberg contraption that produces the exact result of current NXT account/network forging

not exactly see you in maths

leasing forging power of a account to another account to create pools

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 0 Node participate in forging
Mary account  9.900 Nxt 0 Node participate in forging
Bob account  100 Nxt 0 Node participate in forging

Total pool 100.000 Nxt 1 Node paticipate in forging
Total 1 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
10.000 Node participate in forging

share fee group

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool (share fee group)

John account  90.000 Nxt 1 Node participate in forging
Mary account  9.900 Nxt 1 Node participate in forging
Bob account  100 Nxt 1 Node participate in forging

Total pool (share fee group) 100.000 Nxt
Total Nodes 3 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool (share fee group)
30.000 Nodes participate in forging. if there are only three accounts linked per pool (share fee group)

I am wrong?

I suppose 30,000 nodes are sufficient to ensure the network

Now imagine if I am correct with 1,000,000 Nxt coins pools (share fee group)

1.000.000.000 Nxt Coin
1.000.000 Nxt Coin per pool (share fee group)

10 accounts  90.000 Nxt 10 Node participate in forging
10 accounts  9.900 Nxt 10 Node participate in forging
10 accounts  100 Nxt 10 Node participate in forging

Total pool (share fee group) 1.000.000 Nxt
Total 30 Nodes participate in forging

Chance to forge 0,001
rate forging 1440 blocs per day
526 Blocs per year
aprox 1,44 Blocs per day. 100 Nxt account is forging every day. receives fees in proportion to their funds every day!!!

1.000.000.000 Nxt Coin
1.000.000 Nxt Coin per pool (share fee group)
30.000 Nodes participate in forging. if there are only 30 accounts linked per pool (share fee group)

this means;

Extremely decentralized network (in the exemple 30.000 Nodes) Small accounts motivated to participate in forging (In the exemple 100 Nxt account is forging every day)
You just have to solve for the fees to be sufficiently attractive.

An interesting idea is to pay for other things like leased computing power
Other interesting idea is to pay for other things like leased memory storage capacity

PLEASE stop trying to make money with forging. It's purpose is spam prevention. Any amounts coming in from forging is just nice unexpected bonus.

If you want to make money using "mining" paradigm, just wait for NXTcoins that will be coming out. Then you can make new coins and it will even payout dividends in NXT, probably more than forging.

Forging is for spam prevention. It is not meant to be a dividend income

James

[joefox]

One final thing I will say about the (lack of proper) statistical analysis is that for my own involvement in Nxt I would rather be paid in BTC (if I am to be paid anything at all).

I have read proper statistical papers (such as created by Meni) with sound math describing all of the possible attacks upon Bitcoin and I am much more satisfied with that then the "just trust BCNext's algorithm argument" who himself btw actually stated "don't trust me".

It seems that things like "proper analysis" are not things that this community wants to do or even hear about.

I bet most of us believe that BCNext did math analysis and found no flaws.

With respect: this is a glib, bullshit answer, and you can't prove the "most of us" part any more than you can prove the "BCNext did math analysis" part.

Three months in and we have no Whitepaper, no documentation of algorithms, and no modelling or statistical analysis.

The greatest irony of the great decentralized Nxt Ecosystem is that its core is centralized in an opaque, anonymous identity who only communicates to the world through a Belarusan Java programmer on contract.

One day soon, Nxt will be called out for this. It is Nxt's biggest flaw.

[Uniqueorn]

One final thing I will say about the (lack of proper) statistical analysis is that for my own involvement in Nxt I would rather be paid in BTC (if I am to be paid anything at all).

I have read proper statistical papers (such as created by Meni) with sound math describing all of the possible attacks upon Bitcoin and I am much more satisfied with that then the "just trust BCNext's algorithm argument" who himself btw actually stated "don't trust me".

It seems that things like "proper analysis" are not things that this community wants to do or even hear about.

I bet most of us believe that BCNext did math analysis and found no flaws.

With respect: this is a glib, bullshit answer, and you can't prove the "most of us" part any more than you can prove the "BCNext did math analysis" part.

Three months in and we have no Whitepaper, no documentation of algorithms, and no modelling or statistical analysis.

The greatest irony of the great decentralized Nxt Ecosystem is that its core is centralized in an opaque, anonymous identity who only communicates to the world through a Belarusan Java programmer on contract.

One day soon, Nxt will be called out for this. It is Nxt's biggest flaw.

I actually drew attention to this just a few weeks ago and it covers several pages backwards in this thread.
Also talked with CfB on skype about it just yesterday.
I agree, the infrastructure needs to get fixing and a structured plan ASAP or we'll be stuck in nomansland quick