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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755813 times)
getfun12345
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December 26, 2013, 08:18:14 AM
 #8201

I have too many aliases. Somebody plz make them useful!

One practical application of Alias:
https://nextcoin.org/index.php/topic,797.0.html

You don't need to remember the long account number now.
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salsacz
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December 26, 2013, 08:19:07 AM
 #8202

I wonder how much cost 1000 Bitcoins when it was released..

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
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December 26, 2013, 08:21:11 AM
Last edit: December 26, 2013, 08:33:38 AM by wakasaki808
 #8203

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

People were investing anywhere from .00000001 Satoshi up to 1 BTC(the 'cap) during the investment period. I think if one invested .1 they would have gotten around 5 Million Nxt at the time or so, in the investing period. But you were doing it at the risk of BCNext being true to his word and releasing Nxt(since it was a new'ish account that posted the info).
 
Also there I believe is still some of the initial 73 investors that haven't come forth to claim their Nxt. Meaning some of the 999 million Nxt(since a few thousand is now void) hasn't been claimed yet. Which on January 3rd will be dispersed to the public through different avenues. There are many people that have been giving away some Nxt, even me, I gave around 200-300 Nxt or so early on, ranging from 2-5 Nxt per new account I deemed legit(since it wasn't expensive at the time) and was not a founding investor with not that much Nxt compared to many others.

If you bought in the first couple weeks the average price was 100k for .1 BTC. This allowed people to claim a few million if they believed in the project at the time. Since I just started Crypto not long before I heard of Nxt, It was hard for me to claim much BTC prior.

Personally I don't see much trouble with Nxt. Because I don't own a miner, have an Nvidia Card going through a laptop, and didn't get started in BitCoin early. It's hard for me to accumulate much compared to others without shelling out some $. For example, In the first few days of DOGE, I was getting 20-30k while others were getting 1-2 Million a day, with their mining rigs pointed at it. That few ten's of thousand wasn't worth much compared to the millions some people were able to mine daily.
laowai80
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December 26, 2013, 08:22:09 AM
Last edit: December 26, 2013, 08:35:27 AM by laowai80
 #8204

Prove me wrong.

Well, there is not much to prove here.
Stakeholders, which I, unfortunately, am not, because I've been into crypto currencies theme for 2 months only and it took me time to find NXT among the whole bunch of others, invested in NXT when there was NOTHING, no software, only plans to build it, so they risked EVERYTHING. Now, when NXT is running, although not stable yet, but getting there, it's much safer to buy NXT, and naturally much more expensive. I buy at dgex.com, recommend you do the same.
Gorush89
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December 26, 2013, 08:23:48 AM
 #8205

I like the idea but not the premine
Come-from-Beyond
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December 26, 2013, 08:27:53 AM
 #8206

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

The math is quite simple

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down
Alias System was launched, DDoS attacks were counteracted, bugs were fixed... All these things increase confidence in success of Nxt. Higher confidence == higher price.
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December 26, 2013, 08:28:11 AM
 #8207

time to REPOST again for newbies:: PSA:  Condensed (not really) redundant info that keeps being asked for newbies that don't want to read 300+ pages (info will be repeated on every other new page)

Because so many people are failing to read about what nxt has to offer and offering premature conclusion which mostly mirrors negative aspect of "alt coins" This writeup is needed badly and will be repeated from page to page.

--BCnext started all this and is following in the footsteps of satoshi, Come-from-beyond serves as the connecting link now, see:
https://bitcointalk.org/index.php?topic=345773.msg3832234#msg3832234

--NXT is 100% proof of stake, NOT AN ALT COIN ( fork of bitcoin) and there is no "COIN" in NXT, Just simply NXT!

--The software is currently java based, and closed source for now that it is in the alpha stage.  Still, pieces of the code are available for review upon permission of the devs, but the full code will not be released until Jan 3, 2014 official launch.

--Nxt is a brain wallet, a very long and secure passphrase MUST be used to generate your account. You much use more than 30 uppercase, lowercase and special characters for your password to be safe from brute force attacks.

--NXT will be divisible up to 2 decimal places, but it is not active yet.


Nxt currency distribution: NXT WAS NOT PRE-MINED, there is no such thing as mining in nxt. The initial nxt distribution process was completely fair and VERY PUBLIC! The public was advised to send bitcoin to the genesis address in exchange for NXT. Only about 71 people did so on time. These people paid fair and square to be in the position there are in. You could have been one too, but you were probably on another thread. ( If anyone has a better idea lets hear it). They were rewarded as the main starting founders and all NXT were distributed amongst them. It is now their prerogative and in their best interest to redistribute the funds as nxt is not as valuable if not accessible to the market. (And I was not one of the 71 by the way…why does it make sense to me and not you, please stop trolling) Please see all give away attempts  :


Bounties: https://bitcointalk.org/index.php?topic=345773.0  we need several nodes on vps at the moment
Giveaways: https://bitcointalk.org/index.php?topic=347927.0
Faucet: http://www.coinarea.net/faucet.php
If you are running a separate giveaway I pm me and i will update in the next couple of pages

CFB'S take on the creation of coins based on facts about 100% POS system:

" Actually there is only 1 way to create a secure 100% PoS coin - issue all coins at once. If u subsidize block forging (like 25 BTC in Bitcoin now) then u make ur coin vulnerable to different types of attacks. The only way to fix this is to add proof-of-work which doesn't make sense in 100%PoS coin. Mathematical proof is very sophisticated and wasn't peer reviewed, so this statement may be wrong. U still could mention that if not all coins r premined then the currency may be vulnerable to attacks."


for newbies:
   watch these videos  http://www.youtube.com/watch?v=zALTChPsXhQ, http://www.youtube.com/watch?v=f8dLMoZLMzM ,  
    and visit this site: http://www.coinarea.net

Mining:  There is no "MINING" in NXT, just forging: collecting transactions into blocks and earning transaction fees…block you forge is dependent on the amount of NXT you own. This is called FORGING and it is exactly what bitcoin will be doing 100 years from now.

--The price jump was due to an innovative feature named "aliases", this enables a competitive "namecoin-like" distributed DNS functionality
If you want to do aliases do this : https://localhost:7875/alias.html, fill the fields and hit OK
--Nxt is only 3 weeks old, nothing is released yet, because this is the alpha testing phase. Source code and official client will be released on jan 3rd with colored coins, voting, decentralized asset trading.

--how the consensus works in next :https://bitcointalk.org/index.php?topic=345773.msg4063478#msg4063478

Detailed feature sets:

- Decentralized DNS / Alias System (Starting at block 22000) ( this is already in effect and it raised the NXT market cap)
- Transparent Mining (Partially starting at block 25000) IN A COUPLE OF DAYS !
- Decentralized Asset Exchange / Colored Coins (Starting after block 30000) Jan 2014
     This allows gateways to issue other currencies (fiat or crypto) on the Nxt network.
- Decentralized Marketplace / Auction
- Decentralized Mixing Service
- Encrypted Messaging / Chat
- DDoS Protection - Project Kharon
- Voting

----Decentralized exchange is ready, we are just waiting on a frontend, easy to use UI to be released in january by a guy named nexern (cfb)



For stakeholders and if you want nxt to get stronger and continue to be superior:
The NXT network is being blasted by a >40 gbps DDOS attack. Nxt is a superior technology and its fighting off attack right now. CFB and Bcnext say the attack could easily be quenched but they choose to use this experiment as learning experience for when NXT catches up with bitcoin. They have chosen to remain neutral and let the network resolves its own issues.  But it can do way better if we strengthened the network by everyone contributing


What you can do
--We need more nodes to mitigate DDOS attacks, you can do either of these:

Head over to this forum to help try to get people installing and using nxt on raspberryPis : http://www.raspberrypi.org/forum/viewtopic.php?f=63&t=64229&e=0   (one possible user so far)
https://bitcointalk.org/index.php?topic=345619.msg4103726#msg4103726        Use this Guide to starting vps by "iaowai80"     or
https://bitcointalk.org/index.php?action=profile;u=181968      Pay/ hire "Ferment" to set up the nodes for you if you lack the time

UPDATE :: We have raised 400k nxt to support the nxt initial bootstrapping of the network. See the ledger here:
https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=5

This was accomplished through donation from people like you and me..If you believe in the game-changing, innovative potential of nxt and the tireless work of the developers, support the network by donating to the common fund provided by "Pouncer" : please use this address: 14122495560166494500 .  The fund will be used to support server infrastructure that will initially continue to help bootstrap the network, essentially keeping your NXT valuable  Wink

confirm the nxt account address from this post : https://bitcointalk.org/index.php?topic=345619.msg4119640#msg4119640

Nxter,Bitcoiner,Ether highlevel developer working to improve the world.
davethetrousers
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December 26, 2013, 08:32:54 AM
 #8208

Morning dudes

easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.17; 88.198.142.92; 109.230.224.65;

I'm going to put this as a file on my node and then write a small script that updates the config automagically. I know the devs are on something of that sort already, but I want it now Smiley

yuriygeorge
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December 26, 2013, 08:35:14 AM
 #8209

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

Yes, but Bitcoin's been around for over 4 years now... You can't really make that comparison. Go back to when Bitcoin was started, and see how much it rose in 1 month, NOT 400,000%. It was probably under 30% as Bitcoin didn't kick off after many many months, and still never at 400,000%.

400,000% returns in 30 days we're talking here. If early adopters were making a reasonable 1000% in a month, then I think that may be worth the risk. But I believe the public is totally unaware of this 400,000% figure.

Also, I believe the exchange shows an artificially high volume and traffic, which leads to an artificial market capitalization. I can't prove it, but I bet a lot of the exchange activity is actually auto-generated. Indeed the last couple trades I saw were made in nice, even numbers of 500.
 
Also, the exchange has price controls and doesn't operate based on free markets. The price can easily be manipulated on the exchange, especially one with no history, and already seeing the price controls. I think the volume is inflated based on constant trades going on 500, etc. I bet that price is highly over-inflated (duh, 400,000%) and that volume is also highly over-inflated (from fake orders), which is why it shows up on CoinMarketCap as a legit number.

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allwelder
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December 26, 2013, 08:37:46 AM
 #8210

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

The math is quite simple

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down
Alias System was launched, DDoS attacks were counteracted, bugs were fixed... All these things increase confidence in success of Nxt. Higher confidence == higher price.
Absolutely agree.
But I want to say is that :the 30% restriction is really really unreasonable.
There is no need.
Why it appeared recently after price rise up ,but not at first?
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December 26, 2013, 08:38:41 AM
 #8211


Yes, but Bitcoin's been around for over 4 years now...

I think it's safer to wait till source code is released by developers, and reviewed by others. It won't be long now, as they promised to release on January, 3. Then it will be safer to buy, because when others review it and help squash a few bugs, it will be stable. Right now it's still alpha and takes a lot of work to keep it running. Of course, when it becomes beta, it'll be more expensive to buy.
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December 26, 2013, 08:39:00 AM
 #8212

Couldn't there be some automated decentralized distribution of the newest java code through the nxt system when we have enough known peers or is this a bad idea?
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December 26, 2013, 08:39:26 AM
 #8213

Why it appeared recently after price rise up ,but not at first?

No idea.
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December 26, 2013, 08:43:04 AM
 #8214

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

The math is quite simple

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down
Alias System was launched, DDoS attacks were counteracted, bugs were fixed... All these things increase confidence in success of Nxt. Higher confidence == higher price.

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down (50x less)
1 mo after pre-launch: 1 BTC ~~ 0.01M (5000x less)

YOU GUYS. 5000,00% return in 1 month, are you nuts.

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Come-from-Beyond
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December 26, 2013, 08:43:49 AM
 #8215

YOU GUYS. 5000,00% return in 1 month, are you nuts.

Have u ever heard of Google and Facebook?
pinarello
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December 26, 2013, 08:45:29 AM
 #8216



Hello, what is the latest version of the client pls.

Pin

davidoski
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December 26, 2013, 08:45:49 AM
 #8217

Will the blocks.nxt and transactions.nxt files always get bigger and bigger?
Yes, but after annual shrinking they'll become much smaller.
With current limit 32 KiB per block it's 16 GiB per year.

I'm constantly seeing that nxt is the currency without the bloated blockchain problem. But how can it be if the blocks.nxt and transactions.nxt files are (and will be) constantly getting bigger and bigger at the rate of 16 GiB per year?

Can anybody please refer to this?

Chancellor on brink of second bailout for banks
yuriygeorge
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December 26, 2013, 08:46:15 AM
 #8218

So, let me get this straight

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin
current market rate is about 0.00008500

So, it’s that’s about 4,000x, or 400,000% more what the early adopters paid for? And it has only been a month? Are you serious? 400,000% returns? Now, this sounds too good to be true.

Am I missing something? So, at the only exchange trading Nxt, us regular folks have to pay 400,000% more than what early adopters paid for? Too bad fools can't do simple math. Correct me if I'm wrong!

I went to put an order in for 0.00000300, (That's still 14,200% more than what early adopters paid for), and the exchange WOULDN'T let me, saying that I can only put an order at maximum +/- 30% of last hours price... WOW

Does anyone want to sell me some Nxt's at 0.00000300 each? PM me, since I can't even put the order in on the exchange.

Seriously, I hope people are doing some maths on these numbers and aren't just buying these blindly. I'm all for great ideas, and this sounds great on the face of it, but 400,000% returns in a month is unreal. Prove me wrong.

The math is quite simple

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down
Alias System was launched, DDoS attacks were counteracted, bugs were fixed... All these things increase confidence in success of Nxt. Higher confidence == higher price.

Before pre-launch: 1 BTC ~~ 50M NXT
Right after pre-launch: 1 BTC ~~ 1M NXT coz risk went down (50x less)
1 mo after pre-launch: 1 BTC ~~ 0.01M (5000x less)

YOU GUYS. 5000,00% return in 1 month, are you nuts.

Yes, and show me where Google or Facebook, had 500,000% returns in a month??? This is too good to be true. I'm going to keep informing the public of this number, and maybe people will see that they're paying way too much for these coins for something that isn't even open source. I'll keep an eye and watch how this coin plays out. It's interesting if it comes out to be true. But at this point, it just sounds too good to be true.

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mezzovide
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December 26, 2013, 08:46:24 AM
 #8219

Morning dudes

easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.17; 88.198.142.92; 109.230.224.65;

I'm going to put this as a file on my node and then write a small script that updates the config automagically. I know the devs are on something of that sort already, but I want it now Smiley

Please edit 203.174.12.17 -> 203.174.12.25

I've already post update on page 423

add my vps @ Cinfu

easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.17; 88.198.142.92

Updating my ip address:
203.174.12.17 -> 203.174.12.25

easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.25; 88.198.142.92;

Btc : 12LMdyWoyjJ1BZxfWmaZMWjTXn7S9y5EdK
bitcoinpaul
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December 26, 2013, 08:47:07 AM
 #8220

It's not like a guy goes to the exchange and says "X shall be the new price". It is the market price - people recognize the community and possibilities behind nxt and value it accordingly.
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