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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2752714 times)
utopianfuture
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December 24, 2013, 10:48:15 AM
 #6701


Who and what mechanism can enforce that the issuers would keep his promises to redeem his IOU/ assets ?
- Reputation System.

Reputation doesn't work unless you have a history and convention. In early days, we have neither history or convention. You won't even sell Bitcoin to a stranger paying by Paypal. So you won't buy bitcoin tag from a stranger who promise to deliver you a Bitcoin after n days in the future.


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asdlolciterquit
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December 24, 2013, 10:49:13 AM
 #6702


Even you are 5 years late to the start, you still can buy ASIC.


If you spend $5000 on ASIC now and receive it in March you'll barely make 5 BTC, which will give you 0.0000005% of all BTC market.

If you buy Nxt for $5000 you'll get 167000 Nxt which is 0.017% of all market.

Compare the numbers and do the right choice.





so 1 NXT values 0,029$?? where i can find the current value?? thx!
Come-from-Beyond
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December 24, 2013, 10:50:14 AM
 #6703

should we increase the timeout on our hallmarked nodes?

Maybe. U have to analyze logs to make a good decision.
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December 24, 2013, 10:53:39 AM
 #6704

hope you guys having fun with all this forking Cheesy

Cheesy

After Transparent Mining is switched on we'll get more fun, coz we will see what part of the network is on another fork(s).

People won't say "oops, I farted". Instead they'll say "oops, I forked"  Grin
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December 24, 2013, 10:55:30 AM
 #6705

I plan to have a series of articles done for alias system and I could also write rules and protocols for the upcoming asset exchange. But I suggest that BCnext and Cfb need to slow down in rolling out features to get the groundwork done first. Done it right the first time so nobody get hurt during the process. That also give time for works on network stability.

Thank u for ur contribution. U raised valid points, I hope we'll get a stable network soon.
jelin1984
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December 24, 2013, 10:59:40 AM
 #6706

can someone post the new nrs 0.43.e link? Tongue Tongue Tongue
masterOfDisaster
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December 24, 2013, 11:01:02 AM
 #6707

Does the weight of a hallmarked node adjust if the balance on that account changes? If so, the attackers could misuse that by creating a new abomination in the form of "hallmarked zombies" with a higher weight and adjust their weight once the 'regular' hallmarked nodes try to adjust their weight. That will cost the attackers some money, but they already seem to be willing to spend some...
And if even if you need to create a new hallmark after the account has been funded with more Nxt this would be a feasible attack vector.

Good idea. If ur node is overloaded then u can move money from the account that hallmarked it. Leave just 1-1000 NXT.

Great that you derived a mitigation for overloaded hallmark nodes from that scenario Wink

But what about the attack vector using hallmarked nodes that behave zombie like?
I still consider - based on 2Kool4Skewl's analysis - the hallmark system more a problem than a solution at the moment...
neer.g
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December 24, 2013, 11:02:09 AM
 #6708

What a diffrence F5 makes.
When I previously installed the client it took about 20 min of idle computer to download the blockchain.
Now by refreshing the browser every few seconds - it took my comp. about 20 seconds to get to the current block.
Why is that? and why is it not on every nxt installation guide?
or I just misinterpreted the whole thing...
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December 24, 2013, 11:06:16 AM
 #6709

But what about the attack vector using hallmarked nodes that behave zombie like?
I still consider - based on 2Kool4Skewl's analysis - the hallmark system more a problem than a solution at the moment...

This is not a big problem imo. Stakeholders may use Voting System to penalize account owner. Anything from slowing attacker's transactions to complete destruction of all his coins.
neer.g
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December 24, 2013, 11:18:18 AM
 #6710

What a diffrence F5 makes.
When I previously installed the client it took about 20 min of idle computer to download the blockchain.
Now by refreshing the browser every few seconds - it took my comp. about 20 seconds to get to the current block.
Why is that? and why is it not on every nxt installation guide?
or I just misinterpreted the whole thing...


Doesn't F5 lock your wallet?

I'm talking about doing that only when you (re)download the blockchain...
Come-from-Beyond
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December 24, 2013, 11:18:34 AM
 #6711

Watch all the haters go nuts on this one!!!   Wink

The haters should recall all people who were punished for their crimes against the society. There is no difference.
Bitventurer
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December 24, 2013, 11:18:46 AM
 #6712

But what about the attack vector using hallmarked nodes that behave zombie like?
I still consider - based on 2Kool4Skewl's analysis - the hallmark system more a problem than a solution at the moment...

This is not a big problem imo. Stakeholders may use Voting System to penalize account owner. Anything from slowing attacker's transactions to complete destruction of all his coins.

WOT?

SP8DE - The Game of Chance. Changed.
Bitventurer
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December 24, 2013, 11:20:36 AM
 #6713

But what about the attack vector using hallmarked nodes that behave zombie like?
I still consider - based on 2Kool4Skewl's analysis - the hallmark system more a problem than a solution at the moment...

This is not a big problem imo. Stakeholders may use Voting System to penalize account owner. Anything from slowing attacker's transactions to complete destruction of all his coins.

WOT?
how will that be counted ? who has more coins has more voting power ?

SP8DE - The Game of Chance. Changed.
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December 24, 2013, 11:23:04 AM
 #6714

WOT?
how will that be counted ? who has more coins has more voting power ?

Yes
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December 24, 2013, 11:27:30 AM
 #6715


War Chest received another big donation! https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=5

From this list alone, we've deployed 400K in VPS infrastructure so far. Other founders are encouraged to donate directly to front line warriors and consolidate their contributions in the ledger above.

If you plan to contribute to the common fund, please use this address: 14122495560166494500 and not rely on the address in the ledger. Please note that the file was created by another user and is publicly editable. I cannot be responsible for its accuracy, although I am set up to receive notification when it is edited.


NXTtechdevfund  GPG Key ID: 0x903BC112
EmoneyRu
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December 24, 2013, 11:29:19 AM
Last edit: December 24, 2013, 12:11:17 PM by EmoneyRu
 #6716

@all

Don't use digitalocean. $10 per month for what??

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My money are coming to credit card (1 day required). I'll set up some of them. Now you can use http://54.249.101.252:7874/
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BloodyRookie
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December 24, 2013, 11:34:35 AM
 #6717

But what about the attack vector using hallmarked nodes that behave zombie like?
I still consider - based on 2Kool4Skewl's analysis - the hallmark system more a problem than a solution at the moment...

This is not a big problem imo. Stakeholders may use Voting System to penalize account owner. Anything from slowing attacker's transactions to complete destruction of all his coins.

Does that mean, that an account with many coins can ruin me (I lose all my coins) just because he wants to see me suffer Huh

Nothing Else Matters
NEM: NALICE-LGU3IV-Y4DPJK-HYLSSV-YFFWYS-5QPLYE-ZDJJ
NXT: 11095639652683007953
Boiar
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December 24, 2013, 11:35:16 AM
 #6718

Ok, I need help.

I followed the instructions from the previous thread:
Quote
So, if you want to get coins do the following:
1.  Choose a secret phrase
2.  Calculate SHA256 hash of this phrase (an online calculator can be used)
3.  Calculate SHA256 hash of the hash you got on the previous step
4.  Send any amount to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a, don’t forget to attach a message with the hash you got on the 3rd step. (The amount is capped at 1 BTC!)

So I've sent small amount of BTC to 1BCN1ugdKdWd9pQ8Am9hMhtHZfmbXzxE8a with message based on step 3. Now that I unlocked my account I don't see any Nxt on it.

Following the instructions, my transaction message was hash of hash of my secret phrase. Why don't I get my NxtCoins yet? Is there any reason to worry?
Come-from-Beyond
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December 24, 2013, 11:35:40 AM
 #6719

Does that mean, that an account with many coins can ruin me (I lose all my coins) just because he wants to see me suffer Huh

No. 51% of all coins required for that. This is good old democracy.
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December 24, 2013, 11:43:26 AM
 #6720

WOT?
how will that be counted ? who has more coins has more voting power ?

Yes

So we are back to the current shitty state of things?! Sad
In my opinion is not good what are you proposing.

In this way you will replicate the current rotten
fraction reserve fiat system into NXT.

Except from the "inflation" what would be
the difference then between NXT
and the current financial system we have.?


Don't forget that today who has money has power
and can impose laws on others
an limit individual freedom.

Will NXT take the same path? Sad

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