NXT :: descendant of Bitcoin - Updated Information

[redsn0w]

need some testcoin to buy some emulecoins in the video:
9500913153933294022

15K TestNxt sent , have fun .

Code:

{
    "transactionBytes": "00006899a7001800f47ab02026de18774b2cc4086c4ced94ae4c303eeda685ff0aa82bb9dec42753c6b907ee2c06da83983a00000100000000000000000000004d12222dbf1774bf0b8f676199f38f1df3ea10ce2dd6ec1a5472640257c0db09de2d6fa81c6b35e1f4a80767219553f1e484a09d58f42dd8778ad1cc9ea5b886",
    "hash": "53d8a6ab3a23deac4ffb126c2b45be018f191c687c7e25a32e3c377187e1c9bd",
    "transaction": "10218430746731166257"
}

[TwinWinNerD]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

[TwinWinNerD]

need some testcoin to buy some emulecoins in the video:
9500913153933294022

15K TestNxt sent , have fun .

Code:

{
    "transactionBytes": "00006899a7001800f47ab02026de18774b2cc4086c4ced94ae4c303eeda685ff0aa82bb9dec42753c6b907ee2c06da83983a00000100000000000000000000004d12222dbf1774bf0b8f676199f38f1df3ea10ce2dd6ec1a5472640257c0db09de2d6fa81c6b35e1f4a80767219553f1e484a09d58f42dd8778ad1cc9ea5b886",
    "hash": "53d8a6ab3a23deac4ffb126c2b45be018f191c687c7e25a32e3c377187e1c9bd",
    "transaction": "10218430746731166257"
}

Nice to see my EMULETOKENS taking off

[timmyd]

quite a bit of distributing goin on today and where still above 0.00006000 on bter 

[xyzzyx]

Hey folks,

I'm trying to send an AM but I end up with a gibberish of wrongly encoded characters and characters that look okay.
http://mynxt.info/blockexplorer/details.php?action=tx&tx=573495102451010828

Looks like some encoding issue. How to make sure the input does not end up like this in the NRS message.html?
Should all be UTF-8. What's wrong?  

Took a look late last night at your problem with AM and reproduced the same error.  

I don't know Javascript so I might be wrong, but I think the problem is because in the convertToHex function the code is using the charCodeAt() method to return a unicode 16-bit character rather than charAt() which would (I think, but am unsure) return an 8-bit character.

Someone who understands Javascript should take a look, however.

[wesleyh]

Hey folks,

I'm trying to send an AM but I end up with a gibberish of wrongly encoded characters and characters that look okay.
http://mynxt.info/blockexplorer/details.php?action=tx&tx=573495102451010828

Looks like some encoding issue. How to make sure the input does not end up like this in the NRS message.html?
Should all be UTF-8. What's wrong? 

Took a look late last night at your problem with AM and reproduced the same error. 

I don't know Javascript so I might be wrong, but I think the problem is because in the convertToHex function the code is using the charCodeAt() method to return a unicode 16-bit character rather than charAt() which would return an 8-bit character.

Someone who understands Javascript should take a look, however.

message.html is deprecated anyway, check if it works in my client instead.

[xyzzyx]

Anyway, the reason I believe in Nxt is mainly because of you.

Thx, but I'm quiting soon, so u should put some belief into other Nxters.

https://www.youtube.com/watch?v=EJfm71I0OyU

[msin]

Anyway, the reason I believe in Nxt is mainly because of you.

Thx, but I'm quiting soon, so u should put some belief into other Nxters.

https://www.youtube.com/watch?v=EJfm71I0OyU

Soon = 1 more year.

[Ola]

Can someone or a group of people head over and make Ian (ciyam) see the light ? He  says he will avoid helping the creation of a dac-like AT, because he doesn't want to "take on governments", which doesn't make sense because he created the lottery use case.

 I suspect no government will like this lottery AT and its automated distributed ability, just like they don't like bit-torrent. Can someone explain to him or have a debate with him that creating software has nothing to do with taking on governments? I find this extremely disturbing that while XCP is testing DAC functionality and support his stance is to watch and wait..Obviously he will do what he likes and cannot be forced, but maybe he can improve his reasoning? Or maybe someone can improve the pseudo code I wrote and implement in JAVA..I am not good with JAVA.


See the thread here:
https://nxtforum.org/automated-transactions/information-of-the-at-project/msg4355


We need more rational and objective JAVA coders, I made a post here: https://bitcointalk.org/index.php?topic=525098.msg5979866#msg5979866
and maybe is time to head to india to recruit JAVA coder from india..any bounty for this?

[bitme]

I've just got ODROID-U3 cute little thing http://www.hardkernel.com/main/products/prdt_info.php?g_code=G138745696275
I bought it mainly for forging but now have some security concerns. It runs perfectly (much faster than I suspected it to be) but this device uses modified xubuntu with some goodies preinstalled.
 Would any of You find this risky to open NXT account on such system or am I just over paranoid?

[Tobo]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

You can burn Nxt by sending them back to the genesis account.

[TwinWinNerD]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

You can burn Nxt by sending them back to the genesis account.

yes but where is the value of that?
With CFBs proposition, you can really back a currency. In the way that if someone decides that the currency is now at a lower value than the amount of NXT behind it, he can just "trade" it against the backed NXT

[xyzzyx]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

You can burn Nxt by sending them back to the genesis account.

yes but where is the value of that?
With CFBs proposition, you can really back a currency. In the way that if someone decides that the currency is now at a lower value than the amount of NXT behind it, he can just "trade" it against the backed NXT

Depending on the mechanics of this feature, this might be good for implementing Zerocoin mint/spend transactions.  Wait and see.

[ChuckOne]

I think this year April won't be cold, so we need to wait 365 days for a cold one

Depends on where you live.

[ChuckOne]

Do we have a link that describes what it is? NXT Phasing is cool and there is much interest in it. But I need some links to refer to.

No links yet.

There should be some posts about it from you, right?

[TwinWinNerD]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

You can burn Nxt by sending them back to the genesis account.

yes but where is the value of that?
With CFBs proposition, you can really back a currency. In the way that if someone decides that the currency is now at a lower value than the amount of NXT behind it, he can just "trade" it against the backed NXT

Depending on the mechanics of this feature, this might be good for implementing Zerocoin mint/spend transactions.  Wait and see.

you missunderstood me. I also think that feature is really cool! I just said that buring NXT in the genesis block is a far inferior feature

[ChuckOne]

Another one you might enjoy (that we know even less about    )


****

Time Warp
Time Warp is a feature of Transparent Forging that will support very high transactions per second within Nxt. Full details will be released in April.

****


It is going to be an exciting couple of weeks 

As far as I know, that is just a technological consequence of the deterministic side of TF. Nothing spectacular.

[xyzzyx]

I just said that buring NXT in the genesis block is a far inferior feature

I kinda like it: https://bitcointalk.org/index.php?topic=422353.0

[Tobo]

In short Monetary System will allow to create currencies backed by NXT. New coins r created by "burning" NXTs. Actually these NXTs r not burned but locked. Anytime u can destroy created coins and get the NXTs back.

Horry fug. That is huge! All the upside without the downside

You can burn Nxt by sending them back to the genesis account.

yes but where is the value of that?
With CFBs proposition, you can really back a currency. In the way that if someone decides that the currency is now at a lower value than the amount of NXT behind it, he can just "trade" it against the backed NXT

If the new currency's value is lower than it was, it can not be traded back to Nxt with same original amount of Nxt. It is called inflation. This is a separate issue.

BY burning or locking (permanently) Nxt, you can issue a fixed amount new currency and it has fixed ratio with Nxt like US dollar backed by gold long time ago. But how to set up the initial ratio is a science and it needs some economists to study. For instance, the simplest application is to create Nxtcent and 100 nxtcent = 1 nxt and you have to lock (permanently) or burn 1 nxt to create 100 Nxtcent. This way, it will never hurt Nxt's scarcity. But with the growth of the Nxt economy, you may be able to create new currency with ratios other than this depending on the incremental added value on Nxt and it require some economists to study and solve.

edit - but be careful when you do so, remember the bretton Wood System - http://en.wikipedia.org/wiki/Bretton_Woods_system

[Eggnogg]

Hello @ all

Why is NXT dropping and dropping and dropping. It seems to me NXT is dying like some of that shitcoins ! What happened with NXT