NXT :: descendant of Bitcoin - Updated Information

[bitcoinpaul]

I didn't donate to "Songs of Love" because it's ridiculous.  There are millions of children who are sick.  Singing to them will do nothing.  How about trying to cure their illness.

wow, sophisticated thought process 

[salsacz]

So I started a Wikipedia entry for NXT.

It's titled NXT Coin and here's the link for whoever would like to contribute information to it:

https://en.wikipedia.org/wiki/Wikipedia_talk:Articles_for_creation/NXT_Coin

I will continue to edit and add information, I have little time today so I'd figure a start is good for now.

The name is Nxt, not Nxtcoin and as I said please don't repost it on Wikipedia. This is absolutely against Wikipedia policy. Wikipedia should not be used to promote yourself. I hope the article gets deleted soon.

Nxt should be promoted in mainstream media. It needs to become notable. Once that is done, it will show up in Wikipedia -- without you doing anything.

I hate when Wikipedia is abused for self promotion

It wasn't for self promotion, I really don't see how you even came to that conclusion.  Someone mentioned it in the forum and I said, "f-it I'll just start one, why the f*** not?".  I am not very capable of writing a correct article on it, so I started it so other people in the community could add to it,edit and correct it as needed.

It's really about educating people that are not knowledgeable about crypto and might be curious.

But if you take it the other way, then f*** it. I'll just stop trying to help because obviously I'm doing it for myself even though I have done one giveaway, run a couple nodes and even ordered a r-pi to set up, have donated back to the cache system in Peer Explorer, try to help people in my immediate life into crypto and explain how this could be the financial solution the world needs.  Nah, I must be a selfish greedy ass**** just out for himself.

I'm done with these communities, you ask for the community to be a community but the first chance you get you bash the people trying to help.
I'm not a big stake holder or even came in when it was still cheaper than now, I'm not even a wealthy man, I'm just barely making it into middle class. I try to do my part, but if it's going to be like this then I'm done.  I'll just sit from the sidelines quietly and become a stale account holder.

Don't worry, this is like if someone is injured, you try to help him. If you aren't a doctor, you can also kill that guy, but still at least you tried. However wiki has got strict rules about new sites, so your submission is already declined. But thanks, wiki will be soon.

[rickyjames]

I don't know if his idea is a good idea. Could we discuss possible routes and the implications for Nxt, please.

In my opinion the concept of TF is mostly a good one (i.e. to get a very large tx throughput) so I would think that the first thing is for the community to decide whether it agrees with that or not (all other decisions really depend upon this one).

If as a community with think it's more important to have people forging with Raspberry Pis then we would be scrapping TF altogether (realistically it is *one or the other* even though marketing people want to have both).

That is exactly what I mean.

But we need a discussion about what that means for Nxt as a whole, for the value, for the decentralization aspect, for marketing (decentralization, raspberryPis, ...), for what ever. I don't know.

It is a major decision.

I'm not sure it's an either-or situation.  "Raspberry Pi" is actually a code word for "super cheap nodes".  There is still a possibility that a slightly more expensive node can have the technical capacity to participate in a high TPS environment.  THis is one of the first things the infrastructure committee should test, starting with the $60 Odroid U3, which is much faster at forging blocks than a RPi:

http://hardkernel.com/main/products/prdt_info.php

[2Kool4Skewl]

I didn't donate to "Songs of Love" because it's ridiculous.  There are millions of children who are sick.  Singing to them will do nothing.  How about trying to cure their illness.

wow, sophisticated thought process 

This is the main reason I didn't donate.

Also, one of the singers was a stripper.  If I had a sick child, I would not want a "former" stripper singing to them.  I'm not going to support that garbage.  They couldn't find a better role model?  Seriously?

[ChuckOne]

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

I was asking this question over and over again and have not received any answer, yet:

How do you prove that you run your account on a different node?

You limit forging to 1mil Nxt per node, or am I missing something.  Regardless a change in forging may prove difficult if changed in Nxt core.

Well, I would say this depends on how you define a node.

I give you two examples:
1) 2 nodes behind a loadbalancer => look like 1 node, but is actually two
2) 1 node serves two IP addresses => look like 2 nodes, but is still one in terms of security

Furthermore, who's gonna control a node provider? He could easily modify the code. It has nothing to do with forging itself, but in how many accounts a node could manage.

[2Kool4Skewl]

I don't know if his idea is a good idea. Could we discuss possible routes and the implications for Nxt, please.

In my opinion the concept of TF is mostly a good one (i.e. to get a very large tx throughput) so I would think that the first thing is for the community to decide whether it agrees with that or not (all other decisions really depend upon this one).

If as a community with think it's more important to have people forging with Raspberry Pis then we would be scrapping TF altogether (realistically it is *one or the other* even though marketing people want to have both).

That is exactly what I mean.

But we need a discussion about what that means for Nxt as a whole, for the value, for the decentralization aspect, for marketing (decentralization, raspberryPis, ...), for what ever. I don't know.

It is a major decision.

I'm not sure it's an either-or situation.  "Raspberry Pi" is actually a code word for "super cheap nodes".  There is still a possibility that a slightly more expensive node can have the technical capacity to participate in a high TPS environment.  THis is one of the first things the infrastructure committee should test, starting with the $60 Odroid U3, which is much faster at forging blocks than a RPi:

http://hardkernel.com/main/products/prdt_info.php

That is a good idea.

[pinarello]

What is an ETA for Wesleys one click installer client? This is an absolute priority.

The client is there and working perfect, tested it over and over.

I think it will be integrated by J-L in the first new version that comes out.

Yes but is it a one click installer for new people?

If we have that than we need to push it and market it to the newcomers.

Wesleyh has a windows app, just unzip and run.

You can even install it on USB stick and run it from there.

Wich makes me think, lets create some usb sticks with that app and hand them out to people.  marketing...

[zorke]

What is an ETA for Wesleys one click installer client? This is an absolute priority.

The client is there and working perfect, tested it over and over.

I think it will be integrated by J-L in the first new version that comes out.

Yes but is it a one click installer for new people?

If we have that than we need to push it and market it to the newcomers.

Wesleyh has a windows app, just unzip and run.

You can even install it on USB stick and run it from there.

Link please?

[2Kool4Skewl]

What is an ETA for Wesleys one click installer client? This is an absolute priority.

The client is there and working perfect, tested it over and over.

I think it will be integrated by J-L in the first new version that comes out.

Yes but is it a one click installer for new people?

If we have that than we need to push it and market it to the newcomers.

Wesleyh has a windows app, just unzip and run.

You can even install it on USB stick and run it from there.

Wich makes me think, lets create some usb sticks with that app and hand them out to people.  marketing...

That sounds too expensive unless you can get a really good deal on malware-free, small (64 Mb) usb drives.

[salsacz]

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

Ok, here's the current NXT distribution as of today.



As you can see, it's pretty horrible. The whales rule almost 85% of the whole coin, and I guess most of them are the initial investors.

Excluding the ~85% of the total NXT the whales have, here's the distribution of the remaining 15%:

not many changes since NxtMyths:




BTC/USD data: http://bitcoinexaminer.org/wp-content/uploads/2014/01/Who-owns-all-the-bitcoins2.png

whole paper:
https://docs.google.com/file/d/0BwAGADgnQcrtM3g1cU1VSHZtTGM/edit

Litecoin:
- Top 10 LTC addresses own 7 million of LTC = 27%.
- Top 74 Litecoin addresses own 10 million of Litecoins = 40%.
- Other 3 million addresses own 15 million Litecoins.42

---
as you can see, it is pretty normal

[Emule]

only 700K left on the buy side and we are back at 0.00006

sorry this will hurt a bit

[allwelder]

What about recently news BTC-E adding Nxt?

There were news? Someone asked in the trollbox and admin's response was: "No. It is not an altcoin".

yes,he is right,Nxt is even not a coin,it is .....

[2Kool4Skewl]

only 700K left on the buy side and we are back at 0.00006

sorry this will hurt a bit

[pinarello]

What is an ETA for Wesleys one click installer client? This is an absolute priority.

The client is there and working perfect, tested it over and over.

I think it will be integrated by J-L in the first new version that comes out.

Yes but is it a one click installer for new people?

If we have that than we need to push it and market it to the newcomers.

Wesleyh has a windows app, just unzip and run.

You can even install it on USB stick and run it from there.

Link please?

https://bitcointalk.org/index.php?topic=345619.msg5543952#msg5543952

[bitcoinpaul]

So it is about TPS (or TPM).

Some random thoughts:
Should we aim high and make TPS one of the big distinction form other crypto currencies? Are we realistic with such a high TPS - do we really need it? It could be a VISA alternative. Do we get there? Maybe only if great things are made on top of Nxt the next months. Will there be great things on top of Nxt if we are called the next ripple, which is mostly a negative conjunction in the crypto world? Do we ever get there when we cannot market the super-decentralized-idea, raspberryPis and nice things? Are we the business solution of crypto currencies? Do businesses need cryptos? The business world is still very hesitated in regards to crypto currencies - if we fail in the business world in the next month and decided today to go this route, Nxt would be dead? How realistic is it to establish Nxt big in the business world? Are there other possibilities with ultra hight TPS, if not business related? Can we aim for both worlds? Maybe 200 TPS? (Could parallel blockchains help?) Can we aim high with all the other stuff without hight TPS?

How important is ultra hight TPS? What are your opinions? What did I forgot?

I want a big discussion about this.

[salsacz]

Ok, here's the current NXT distribution as of today.

https://i.imgur.com/Idzj6lQ.png

As you can see, it's pretty horrible. The whales rule almost 85% of the whole coin, and I guess most of them are the initial investors.

Excluding the ~85% of the total NXT the whales have, here's the distribution of the remaining 15%:

https://i.imgur.com/nSwqIuM.png

Many coins are on exchanges. People don't know how to use a client so they leave there NXT on them.

We don't know what the actual distribution is.

oh, come on, at least this how original stakeholder's money were distributed (I checked all outgoing transfers and guessed if it was a sell or moving)



calculations:
https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=13

[CIYAM]

How important is ultra hight TPS? What are your opinions?

In my humble opinion it is very important as Ethereum is likely to be better at everything else that Nxt will do.

What they can't do is TF (without a re-design) so it is the thing that makes Nxt different (and appealing).

[salsacz]

All: Please watch this video about the future of Nxt and comment it (here), thank you very much!

http://youtu.be/RtTWUwRL9mQ

Nxt Decentralized Internet video - alfa version:
http://youtu.be/RtTWUwRL9mQ

(created between 20 Feb-8 March)

I would be very grateful for any comments and suggestions. It still needs some time, but it already can be commented

Based on the paper:
http://justpaste.it/decentralized-internet
(created between 12-18 Feb)

And good night, its almost 6 AM here

[ChuckOne]

Can we aim for both worlds? Maybe 200 TPS? (Could parallel blockchains help?)

Your node has to process the 60000 transactions per minute any way. It they reside in a parallel block or not does not matter.

[igmaca]

How important is ultra hight TPS? What are your opinions?

In my humble opinion it is very important as Ethereum is likely to be better at everything else that Nxt will do.

What they can't do is TF (without a re-design) so it is the thing that makes Nxt different (and appealing).

someone can clarify me that is exactly ultra hight TPS and why is this in conflict with decentralization?