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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2752710 times)
abuelau
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December 23, 2013, 11:50:45 AM
 #5821


People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

Try mining Bitcoins. Or gold. Then tell me how much you'd have to invest to mine anything. And unlike Bitcoin in nxt no one has tech advantage (bleeding edge hardware) to mine.

Alternative to 'rich get richer' is communism. And guess what? Rich get richer there too.

Okay, so in both BTC and NXT, the more money you have, the more money you make.

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

Know what's happening in cryptoworld: www.coinschedule.com
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CIYAM
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December 23, 2013, 11:51:17 AM
 #5822

U could try.

Am playing with this now - btw - are the "scum" nodes okay or zombies (they keep coming back after I trash them)?

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
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December 23, 2013, 11:52:21 AM
 #5823

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?
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December 23, 2013, 11:52:52 AM
 #5824

U could try.

Am playing with this now - btw - are the "scum" nodes okay or zombies (they keep coming back after I trash them)?


They ok.
abuelau
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December 23, 2013, 11:53:55 AM
 #5825

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?

Probably not, because Ripple will be long dead by then (if it's not already).

Know what's happening in cryptoworld: www.coinschedule.com
nexern
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December 23, 2013, 11:55:10 AM
 #5826

just one and my last post about this stakeholder topic.
couple of days ago i was chatting with a major stakeholder about nxt
and he asked me what we need to go bigger, stuff like this, and at the end
i asked him what he intend todo to move nxt further, his answer was impressive.
nothing, because he can't code nor write articles etc. so he decided
just to wait. ok, not optimal but what really pisses me off, the first
time during my nxt-adventure-fun was his last statement, that he will
use all these tools for sure because someone built them anyway.
(of course he knew i am developing a new client for nxt but i asked
for nothing, just to make this clear)

therefore it's great to see that many of them now supporting nxt.

ok, x-mas time now... Grin
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December 23, 2013, 11:57:51 AM
 #5827

So shouldn't the zombie nodes be able to be weeded out by PoS (i.e. each node you connect to sign something which proves how much NXT they control) or this what the Hallmark feature is going to achieve?

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
abctc
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December 23, 2013, 11:57:57 AM
 #5828

When I installed 0.4.2 I could see only 0.4.2 nodes. Why?  I think at that time there was a lot of 0.4.0 nodes (including my bootstrap VPS).

So it seems every version now mines own fork of blockchain. If so, in the first place we all need to install the same version (preferably 0.4.0).

Zombie nodes r quite dumb. They return ur version as their. U can send them "I'm zombie" and then get "I'm zombie" in response.
- how can I configure my server in order to communicate only with Hallmarked nodes (> 100 000 weight) ?  

I do not want to see zombies in my Active peer list (no to say to communicate with them).

And I think that "They return ur version as their" its an Nxt servlet work, and you say, that attack is Jetty targeted, not Nxt servlet targeted. So how it happes that we see them, zombies, in Active peer, anyway ?

█████████████████████████████████████████████████
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, the Next platform.  Magis quam Moneta (More than a Coin)
laowai80
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December 23, 2013, 11:58:08 AM
 #5829

just one and my last post about this stakeholder topic.
couple of days ago i was chatting with a major stakeholder about nxt
and he asked me what we need to go bigger, stuff like this, and at the end
i asked him what he intend todo to move nxt further, his answer was impressive.
nothing, because he can't code nor write articles etc. so he decided
just to wait. ok, not optimal but what really pisses me off, the first
time during my nxt-adventure-fun was his last statement, that he will
use all these tools for sure because someone built them anyway.
(of course he knew i am developing a new client for nxt but i asked
for nothing, just to make this clear)

therefore it's great to see that many of them now supporting nxt.

ok, x-mas time now... Grin

well, he might end up losing all of his stake, if NXT dies, nobody would be able to send any coins if network is kaputt, game over. tell him to wait longer, he just might see that happen )
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December 23, 2013, 11:59:35 AM
 #5830


People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

Try mining Bitcoins. Or gold. Then tell me how much you'd have to invest to mine anything. And unlike Bitcoin in nxt no one has tech advantage (bleeding edge hardware) to mine.

Alternative to 'rich get richer' is communism. And guess what? Rich get richer there too.

Okay, so in both BTC and NXT, the more money you have, the more money you make.

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.
laowai80
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December 23, 2013, 12:00:02 PM
 #5831

@CfB,

hallmarked nodes are being ddos'ed mercilessly and can't catch up with the rest, any way to improve this or just have to wait?
abuelau
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December 23, 2013, 12:01:32 PM
 #5832

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?

Probably not, because Ripple will be long dead by then (if it's not already).


It would probably be wiser for you to spend time reading what NXT actually has to offer (is trying to offer ...whichever one you prefer...) before resting on a premature conclusion based on an irrelevant comparison to Ripple.

It's trying to offer exactly the same as Mastercoin and Colored Coins.

Know what's happening in cryptoworld: www.coinschedule.com
Lubliana
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December 23, 2013, 12:01:48 PM
 #5833

http://www.nxtcoinflip.com/images/logo.png

Hey guys,

Check out http://www.nxtcoinflip.com/

It's a new NXT gambling site, similar to other cryptocurrency games.

It's cheat-proof, the password used to generate the results is posted after a certain amount of 'turns'
Come-from-Beyond
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December 23, 2013, 12:02:09 PM
 #5834

So shouldn't the zombie nodes be able to be weeded out by PoS (i.e. each node you connect to sign something which proves how much NXT they control) or this what the Hallmark feature is going to achieve?

Yes, but this is not activated yet.
abuelau
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December 23, 2013, 12:03:17 PM
 #5835


People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

Try mining Bitcoins. Or gold. Then tell me how much you'd have to invest to mine anything. And unlike Bitcoin in nxt no one has tech advantage (bleeding edge hardware) to mine.

Alternative to 'rich get richer' is communism. And guess what? Rich get richer there too.

Okay, so in both BTC and NXT, the more money you have, the more money you make.

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.

Which small group? There are dozens of ASIC manufacturers, and hundreds of ASIC owners and thousands of people involved via group buys. And the number of people having access to ASIC is still increasing.

Know what's happening in cryptoworld: www.coinschedule.com
ferment
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December 23, 2013, 12:03:53 PM
 #5836


I'm happy to do it for you since I have automation tools. Please send donations to the nxt in my sig and I'll add more nodes. For every 3000 nxt, I'll add a new public nodes that will run for 3 months. Currently, I've received only 4000 nxt and am running 10 public nodes (node1-node10.nxtbase.com).

Vanity nodes are 4500 nxt for 3 months. PM with your account, desired node name (whatever.nxtbase.com), and hallmark.


Donations are coming up. Thanks! I'll try to get 15 nodes up today.

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December 23, 2013, 12:04:34 PM
 #5837

how I can configure my server in order to communicate only with Hallmarked nodes (> 100 000 weight) ?  

I do not want to see zombies in my Active peer list (no to say to communicate with them).

And I think that "They return ur version as their" its an Nxt servlet work, and you say, that attack is Jetty targeted, not Nxt servlet targeted. So how it happes that we see them, zombies, in Active peer, anyway ?

U can't atm.

This is a wide attack that targets all parts. 0.4.3e disables Nxt servlet attack, but Jetty is still being stressed.
starik69
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December 23, 2013, 12:05:14 PM
 #5838

But rest assured Ripple also had expenses, since it's a proper private company, there were costs involved with wages, renting space, etc... so yes, they've put money in as well.
So they made all process public and open and anybody could participate? lol. "Private company" does mean something.  Grin
abuelau
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December 23, 2013, 12:07:01 PM
 #5839


It's trying to offer exactly the same as Mastercoin and Colored Coins.


So... after researching NXT that is the conclusion you've come to.  Fair enough... some of us see more.   Wink

Oh prove me wrong please.

BTW, I am not trying to FUD but if you want to succeed and justify your market cap, you need to be able to answer these questions.

So you are saying that the list in the OP is not correct? What is missing?

Quote
Nxt will have the following features:
- Decentralized Asset Exchange / Colored Coins (Starting after block 30000)
     This allows gateways to issue other currencies (fiat or crypto) on the Nxt network.
- Decentralized Marketplace / Auction
- Decentralized Mixing Service
- Encrypted Messaging / Chat
- Decentralized DNS / Alias System (Starting at block 22000)
- Transparent Mining (Partially starting at block 25000)
- DDoS Protection - Project Kharon
- Voting

Know what's happening in cryptoworld: www.coinschedule.com
mcjavar
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December 23, 2013, 12:07:17 PM
 #5840


People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

Try mining Bitcoins. Or gold. Then tell me how much you'd have to invest to mine anything. And unlike Bitcoin in nxt no one has tech advantage (bleeding edge hardware) to mine.

Alternative to 'rich get richer' is communism. And guess what? Rich get richer there too.

Okay, so in both BTC and NXT, the more money you have, the more money you make.

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.
Totally agree on that
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