NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

Did some more analysis.
Nxt is vulnerable to a type of sibyl attack. 
Will post the math later.
Sorry I missed this earlier.
Can we get the developer to rise from the dead so we can fix the mining algorithm?

Aye, we can, but should we change the algo?

Btw, r u talking about the situation that 2 accounts with 500 coins could mine blocks more often than 1 account with 1000 coins?

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[Come-from-Beyond]

Yes, indeed.

Ok, let's see ur math. Coz when I asked about this issue BCNext said that 2 accounts would mine the same amount of blocks. Low-balance accounts lose the race more often and this compensates their combined chance to find a block.

[dr_yan_yan]

Why does it sometimes skip blocks?
Height:
4095 jump to 4099
4104 jump to 4107

[Come-from-Beyond]

Why does it sometimes skip blocks?
Height:
4095 jump to 4099
4104 jump to 4107

Refresh the webpage. Maybe client lost new block data.

[Vega]

Guys, what are your long term plans for Nxt? I understand that it is early in the life of Nxt, but some of the attitudes confuse me.

- The very real problem of a possible brute force attack to access accounts was shrugged of more than once now. The anwser basically was, use longer passphrase. This will work (maybe) if you want a few hundred geeks to use Nxt. In the "mainstream" you can never, ever trust the user to be smart.

- The integraded exchange and stuff will be good to have, but some point an effort has to be made with the API so major exchanges can potentially add Nxt. People don't like to use 5 different exchanges. If they have money on Btc-e, they will mainly buy and sell there. This is not an urgent problem, but needs to be addressed at some point.

- Java, localhost, interface look. Again, if you want Nxt to be successful, it can not remain this. An avarage user will not stand for it.

- We have to make more of an effort to explane Proof-of-Stake, and mining in Nxt. We need a catchy phrase for it, a standard reply. like: "In Nxt your coin is your mining equipment. Buy coin!"
It encourages coin distributon, transactions, and explains mining, and the point of PoS. Don't invest in hardware, invest in the coin.

If you know all this and have plans that brings this coin to the big league, then never mind me.
But it would be nice to know, what is the goal? Making a good coin, or making a good _and_ successful coin?

Thanks for reading.

[dr_yan_yan]

Refresh the webpage. Maybe client lost new block data.

Yup that did it.  Thanks very much.
I appreciate the active support you provide.

[dr_yan_yan]

Now I just need the Price of NXT to skyrocket  so I can tell my boss to go Fuk himself!

[Come-from-Beyond]

Now I just need the Price of NXT to skyrocket  so I can tell my boss to go Fuk himself!

Top bid order on the exchange is 1.25 BTC for 1M NXT. Already +25%

[BTCSTOCKZ]

They can be used to fill 1 nxt to all the blocks. That's easy to implement cause we just need to create another account and transfer to it every minute.

It's even allowed to send coins back to the same account.

~ daisy chain that 'ish? LOL 

[bitdraw]

Guys, what are your long term plans for Nxt? I understand that it is early in the life of Nxt, but some of the attitudes confuse me.

- The very real problem of a possible brute force attack to access accounts was shrugged of more than once now. The anwser basically was, use longer passphrase. This will work (maybe) if you want a few hundred geeks to use Nxt. In the "mainstream" you can never, ever trust the user to be smart.

- The integraded exchange and stuff will be good to have, but some point an effort has to be made with the API so major exchanges can potentially add Nxt. People don't like to use 5 different exchanges. If they have money on Btc-e, they will mainly buy and sell there. This is not an urgent problem, but needs to be addressed at some point.

- Java, localhost, interface look. Again, if you want Nxt to be successful, it can not remain this. An avarage user will not stand for it.

- We have to make more of an effort to explane Proof-of-Stake, and mining in Nxt. We need a catchy phrase for it, a standard reply. like: "In Nxt your coin is your mining equipment. Buy coin!"
It encourages coin distributon, transactions, and explains mining, and the point of PoS. Don't invest in hardware, invest in the coin.

If you know all this and have plans that brings this coin to the big league, then never mind me.
But it would be nice to know, what is the goal? Making a good coin, or making a good _and_ successful coin?

Thanks for reading.

looks pretty similar to what i have posted a few pages ago. agree!

[wesleyh]

Any idea on how to fix this? (I'm on mac mavericks):

I have java 7 update 45.

Exception in thread "main" java.lang.UnsupportedClassVersionError: Nxt : Unsupported major.minor version 51.0
   at java.lang.ClassLoader.defineClass1(Native Method)
   at java.lang.ClassLoader.defineClassCond(ClassLoader.java:637)
   at java.lang.ClassLoader.defineClass(ClassLoader.java:621)
   at java.security.SecureClassLoader.defineClass(SecureClassLoader.java:141)
   at java.net.URLClassLoader.defineClass(URLClassLoader.java:283)
   at java.net.URLClassLoader.access$000(URLClassLoader.java:58)
   at java.net.URLClassLoader$1.run(URLClassLoader.java:197)
   at java.security.AccessController.doPrivileged(Native Method)
   at java.net.URLClassLoader.findClass(URLClassLoader.java:190)
   at java.lang.ClassLoader.loadClass(ClassLoader.java:306)
   at sun.misc.Launcher$AppClassLoader.loadClass(Launcher.java:301)
   at java.lang.ClassLoader.loadClass(ClassLoader.java:247)

[bybitcoin]

Guys, what are your long term plans for Nxt? I understand that it is early in the life of Nxt, but some of the attitudes confuse me.

- The very real problem of a possible brute force attack to access accounts was shrugged of more than once now. The anwser basically was, use longer passphrase. This will work (maybe) if you want a few hundred geeks to use Nxt. In the "mainstream" you can never, ever trust the user to be smart.

- The integraded exchange and stuff will be good to have, but some point an effort has to be made with the API so major exchanges can potentially add Nxt. People don't like to use 5 different exchanges. If they have money on Btc-e, they will mainly buy and sell there. This is not an urgent problem, but needs to be addressed at some point.

- Java, localhost, interface look. Again, if you want Nxt to be successful, it can not remain this. An avarage user will not stand for it.

- We have to make more of an effort to explane Proof-of-Stake, and mining in Nxt. We need a catchy phrase for it, a standard reply. like: "In Nxt your coin is your mining equipment. Buy coin!"
It encourages coin distributon, transactions, and explains mining, and the point of PoS. Don't invest in hardware, invest in the coin.

If you know all this and have plans that brings this coin to the big league, then never mind me.
But it would be nice to know, what is the goal? Making a good coin, or making a good _and_ successful coin?

Thanks for reading.

Valid concerns!

-To make it mainstraem we need to provide accessible security and also ease of use possible for average joe. The first account generating concern can be resolved in some extend by creating something like bitaddress.org , the user types some phrase or code, the algo takes it and add some entropy to it by adding some random numbers and then generate a phrase key which cam be used further, to generate an account id. in the Nxt local client. I also agree that the GU needs more polishing and some graphic design, but it is not a hard problem and can be done in progressing time even by another developers after the open source gets published soon. I guess Nxt has laredy have an API but the same solution as the other one, new developers or the main current developers can add it for sure. It's too young..

-Yes we need to explain for both general and technical audiences, also a more attractive graphical (video) presentation, that's why I created some bounties: general article bounty+ its Chinese translation, the whitepaper, the video. But we need more support.
Fortunately I received pm from several skilled people to assist us with these projects, but all of you should not forget: I am only a stake holder and will push and keep pushing the pace of progress as much as is possible for me. Unfortunately most of big stake holders are idle, two or three are just selfishly in the dumping process (selling is Okay, I mean extreme dumping) and there are at the moment 4 or 5 stake holders who are trying to push and help the process. In the long run, it could be a big problem  

I ll review the bounty thread posts tomorrow and will react accordingly.. giveaway I will probably start assigning and sending coins this midnight.
I had been very busy recently, sorry for the delay

[timmyd]

As a stake holder myself im here for the long run and wont be dumping  all my coins. i want to see nxt progress and become mainstream. its already taken off quicker than i expected. Im sat here watching others hard work but im no good at any coding/designing.  so ill stick to spreading the word and mining. ive been running nxt on my machine 24hrs 

[BTCSTOCKZ]

Now I just need the Price of NXT to skyrocket  so I can tell my boss to go Fuk himself!

Top bid order on the exchange is 1.25 BTC for 1M NXT. Already +25%

_?_*is the wallet stable now? last time i checked you all were still testing/breaking NXT!  tia!

[oferrotem]

I understand that I can now claim my NTX, but I don't understand how to do that.
 

Could someone please explain or at least point me in the right direction (link)?

Thanks
 

[BitThink]

Did some more analysis.
Nxt is vulnerable to a type of sibyl attack. 
Will post the math later.
Sorry I missed this earlier.
Can we get the developer to rise from the dead so we can fix the mining algorithm?

I think there's plenty of time to fix this problem. Currently no one will bother to do this kind of attack since the transaction fee is negligible. The only thing he can do is double spend, but it can be easily detected and Nxt goes to 0 will hurt the attacker too.

[Snard]

What are the minimum requirements in terms of amounts of Nxt to feasibly be able to mine more?  Is 1000 NXT enough or would it take forever?

[abctc]

I understand that I can now claim my NTX, but I don't understand how to do that.
Could someone please explain or at least point me in the right direction (link)?

- see here.

[abctc]

What are the minimum requirements in terms of amounts of Nxt to feasibly be able to mine more?  Is 1000 NXT enough or would it take forever?

- see here.

[klee]

Can anyone explain how do I see and trade the NTX that I should have got from the Genesis block?
 

This might have been answered somewhere in this 84 pages thread, but I would really appreciate if someone could explain or at least point me in the right direction (link?).

Thanks!