NXT :: descendant of Bitcoin - Updated Information

[salsacz]

Do not sell NXT on Vircurex!
They have frozen BTC operations.

Hi 4747, you have a descendant of your idea about bounties based on achieved goals:

http://107.170.117.237/index.php/topic,77.msg250.html#msg250


I think this is a right solution and soon we might come up with other goals. + we will have a kickstarter for crowdfunding of all kinds of projects

[bitcoinpaul]

i really dont care if you like how i write or not ,just wrote what i think ,i bet you cant write in foreign language at all

It's about quotes to understand your post.

[l4p7]

hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!

What is that about? Mining (no forging) NXT?

And where can I find that NXT updated distribution doc?
 

[farl4web]

Adam: have you watched my video about Nxt decentralized internet? http://youtu.be/RtTWUwRL9mQ - still little imperfect, but with ideas

Who are you trying to appeal to?  Maybe people on this forum but few others would stay past the first few clips.

You guys need to create your own content.  I have loved what Kris has done with the NXT Minute, I think its the perfect mix of update and invitation.  It's obvious you guys are doing stuff and making decisions, the community is active and growing and you're one of the leading players in the 2.0 game. 

But you need more than soundbytes, you need speakers who breath NXT.  Don't look to existing Bitcoin people, everybody I know is crazy overwhelmed with projects right now, you need to self-organize and make this happen.

Speaking in public is not impossible or even difficult, and I'm sure many of your stakeholders do it for work all the time.  Time to pull them out, rip the masks off a few of you and put your name on the line because if you aren't willing to, nobody else is going to do it for you.

My name is Ricky Roberson and I'm ready to put my name on the line and speak out for NXT anytime.  I already have.

https://www.youtube.com/watch?v=E1oqFRROW7M

I thought you did really well, watched it last week.

+1

[bitcoinpaul]

http://p00l.org
http://hashrate.org

[farl4web]

I think more than anything NXT suffers from lack of people who have both a deep knowledge of the project and who have strong presentation skills.  You have some people in your group who have good presentation skills (like Kris) but who feel out of depth when it comes to technical stuff.

Anybody I talk to needs to be able to explain to my why it's not an insanely bad tradeoff to not have a wallet.dat and to require a very difficult to remember, unique brainwallet to be entered for every action.  That is by far the biggest barrier to actual use, and I've yet to hear a good solution.

I am a newbie and to be honest don't know much about bitcoin and cryptocurrencies, but I like a brain wallet much better.  These might not be good reasons for other people, but these are the reasons I like them.

1. I am not very computer savy, not like many other people on this thread.  I read about how to get a bitcoin wallet, install linux, save it some programs, back it up, encrypt it, and don't ever use that computer to connect to the internet, (this might not be the exact order as I couldn't figure it out anyway) and it was all too much and way too many points and steps along the way for me to mess something up and lose my money.  I hear stories about people losing their hard drives, people having malware on their computer (the average person can't fight this well) and having their bitcoins stolen.  Even the big exchanges who are "pros" are getting hacked and ripped off, so what does that mean for me.  So for me, just the average guy, I have to keep my bitcoins in Coinbase.  Yes... it is a risk, but when I consider all the possible points of failure and steps I go through to have to store my bitcoins "off line" it is really difficult.  Also, as an average consumer that is buying bitcoins hoping to spend them on the internet later on when they are worth more, having them offline kind of defeats the purpose.  The problem now with keeping them on Coinbase, while being easy, is I am trusting a third party with my money, and this is kind of going against one of the reasons I got into bitcoin in the first place.  Still.... honestly, I wouldn't have ever bought bitcoin in the first place had it not been for Coinbase, I just wouldn't have been able to do it.  Coinbase made it super easy for me as a regular consumer.

2. With the brain wallet, I can make a passphrase unique to my life, like my childhood address, name of pet, first girlfriend, favorite food...... String them together and I have something that is really easy for me to remember.  Now even if my computer breaks or is stolen, I can just download a new client on a new computer and have my nxt safe, just as easy as logging into coinbase.  With nxt, there is only one thing to write down and keep safe, with bitcoin I have to do soooo many things and along the way trust many other people.  To me, the point of failure for nxt is somebody steals my password or I forget it.  With bitcoin, these are also points of failure plus many more points of failure, most of which are out of my control as a normal guy user.  I have 7 different coins, but nxt is the only one I haven't had to trust to a third party.  People might call me silly for not being able to protect my bitcoin, but guess what, I am the every day guy and I AM THE FUTURE if it ever has one.  Compared to my gf, friends, and most of my family, I am way more computer literate.  If I can't do bitcoin well, neither can they, but if I can do nxt's passphrase well, maybe they can too.

To be fair, there are some things that I don't like about the nxt's system too.  First of all which is the most important, since cryptocoins are often getting stolen, there is no 2 factor authentication for nxt.  I really like that on Coinbase and it makes me feel safer.  

Also, the passphrase is long.  The first few times I entered it, I entered it wrong and ended up in strange accounts.  I had to test and retest it to make sure I had it right.  Even now, one third of the time I enter it wrong because it is so long.  Still... as time goes on, it isn't that bad now.  It hardly takes me anytime to enter as long as it is the first time.  I just got use to it and it is no big deal.  That being said, I think it would be way cooler to just scan my thumb print on my iphone, or had some program that I could just type in a simple password that unlocked my bigger password to unlock my account.  I think that kind of thing will happen more in the future though.  The passphrase  being so long in a way is something I like too.  People proved to me with statistics that if I make it long and random, it can't be brute forced.  

Use 1Password for now!

[BrianNowhere]

Vircurex is dying on the vine. Always check the announcements.

I saw it was well above 0.00008 this morning and thought I was being slick by uploading 8000 for a quick dump and pump
then I read here about the BTC funds freezing. I barely made it out alive in the ensuing panic selling but luckily barely escaped having lost only 200 Nxt or so.

Thanks for the heads up comrades.

Here's the announcement on vircurex.com

Frozen Funds

In preparation of the following, we have with immediate effect stopped the possibilities to withdraw BTC, LTC, FTC and TRC. All incoming deposits will also not be credited to the users accounts for the time being.

On 24th March 2014 we will be freezing the current BTC, LTC, TRC and FTC accounts, then perform the below distribution of the available coins and reenable deposits and withdrawals. This action will also require us to delete all open sell orders for BTC, LTC, FTC and TRC.

As you may very well be aware, we had two incidents last year that lead to a loss of a significant number of BTC, LTC, FTC, TRC. We had communicated at that time that we will be covering those losses from our income, which we have done so far. We had enough coin balances in our cold wallet to upkeep our platform and the positive cashflow enabled us to gradually refill the wallets.
Unfortunately we had large fund withdrawals in the last weeks which have lead to a complete depletion of our cold wallet balance and we are now facing the option of either closing the site with significant unrecoverable losses for all or to work out a solution that allows the exchange to continue to operate and gradually pay back the losses.
We have obviously chosen the later and hence are going to do the following:
1. We will introduce an additional balance type called "Frozen Funds". Funds in this balance type cannot be used to trade or withdraw. Those are the balances that the exchange will gradually pay back and hence transfer back to the available balance over time.
2. We will move all current balances for BTC, LTC, TRC and FTC to the "Frozen Balance", i.e. your balance will be set to 0.
3. We'll take the current available cold storage balance and distribute it based on the below described distribution logic.
4. Monthly we will take the net profit of the exhchange and credit back that amount distributed to the users based on the described distribution logic.

https://vircurex.com/welcome/ann_reserved.html

Going to make an announcement on reddit warning people to pull out NOW!!

[l4p7]

hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!

What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 

[rickyjames]

I think NXT has a damn good chance simply because ya'll don't have leaders.

I'd highly recommend as many NXTers as possible read the book "The Spider and the Starfish: The Unstoppable Power of Leaderless Organizations" - You guys have an "apache" or "na'taan" model of leadership, you just don't know it so it doesn't work too well.

NXT is like the beast with a thousand arms and no head.  Difficult to organize, but with many resources at its disposal.
https://www.youtube.com/watch?v=9dzK-0wB-CA

An eleven page PDF summary outline of "The Spider and The Starfish" is here:

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CDEQFjAA&url=http%3A%2F%2Fugnchicago.com%2Fwp-content%2Fuploads%2F2009%2F07%2FStarfish-and-Spider-Ori-Brafman-Summary.pdf&ei=axovU77EH8fd2AWjwIH4BQ&usg=AFQjCNGne2aAP5I-aCfJTTAmG1L7XT3rPQ&sig2=upromSb5Yfx_lIJAl-Uwow&bvm=bv.62922401,d.b2I

Read these 11 pages.  Read these 11 pages.  Read these 11 pages.

Then go discuss them here:

http://107.170.117.237/index.php?topic=86.msg345#msg345

[bitcoinpaul]

Obviously, the two sites are very bad with explaining things.

Admins of hashrate and p00l: please make a prominent short explanation at the top of the main page what this whole thing is about.


You mine alt coins with this pool, the pool sells mined coins on an exchange and buys NXT for it. You get NXT. It's just a very easy and cool way to jump into the 2nd generation crypto world.

[timmyd]

hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!

What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 

Hashrate.org is a multi alt coin pool that mines the most profitable altcoin and sells to nxt. so your mining alts and getting paid in nxt. Nxt still operates on pos.
This is good for ppl with obsolete mining equipment and nxt itslef as more buy orders will be created regulary. cant help you on the document your after sorry

[Sebastien256]

Obviously, the two sites are very bad with explaining things.

Admins of hashrate and p00l: please make a prominent short explanation at the top of the main page what this whole thing is about.


You mine alt coins with this pool, the pool sells mined coins on an exchange and buys NXT for it. You get NXT. It's just a very easy and cool way to jump into the 2nd generation crypto world.

Pool are in Beta, they are working on improving web interface.

[TwinWinNerD]

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast

[Sebastien256]

Hey guy, I want your opinion on the following brand or slogan for Nxt.

Please go post your opinion on the new nxt forum:
http://107.170.117.237/index.php/topic,79.0.html

Nxt - Sky's the Limit

EDIT: When searching for this expression on google, I found the following which is a plus.

http://en.wikipedia.org/wiki/Sky's_the_Limit

Note that: ..and the sky's the limit" are the last words in the series finale of Star Trek: The Next Generation
With Jean-Luc Picard as the "captain" for Nxt that sound good!

Look at the video of the final scene of star trek next gen with JLP himself saying the words!
https://www.youtube.com/watch?v=lrnmbiN4xjE

That is a nice analogy. Branding don't need to be related to detail of Nxt, but only in the fundamental idea behind it. Exactly as with Nike analogy with "just do it".

[bitcoinpaul]

too fancy.

[BrianNowhere]

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast

Done.

[BitcoinForumator]

too fancy.

+1

[brooklynbtc]

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast

Done.

ugh you linked reddit users to the main thread? start the fun machine!

[TwinWinNerD]

Upvote this post for visibility!


http://www.reddit.com/r/CryptoCurrency/comments/215sn9/go_ahead_and_test_the_nxtasset_exchange_on_the/

Thank you

PS: Also send them testNXT fast

Done.

ugh you linked reddit users to the main thread? start the fun machine!

Oh, is that not liked? I am mainly a lurker!

[l4p7]

hashrate.org
NOW YOU CAN MINE NXT WITH SHA-256 OR SCRYPT MINING HARDWARE!

What is that about? I though transaction verification happens by POS? Or is this an effort to distribute donated NXT to enhance distribution? 

And where can I find that NXT updated distribution doc?
 

Hashrate.org is a multi alt coin pool that mines the most profitable altcoin and sells to nxt. so your mining alts and getting paid in nxt. Nxt still operates on pos.
This is good for ppl with obsolete mining equipment and nxt itslef as more buy orders will be created regulary. cant help you on the document your after sorry

But there must be some cost associated (buying nxt from exchanges to pay the miners etc.). Who is paying for this?