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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755837 times)
wesleyh
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December 26, 2013, 09:55:07 AM
 #8301

Correct mac client beta 0.4.7e with updated wellKnownPeers list :

https://copy.com/dG4gtBenFDKz
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December 26, 2013, 09:56:21 AM
Last edit: December 26, 2013, 10:30:24 AM by rickyjames
 #8302

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!


Just for the record, actual genesis block NXT distribution was far from a 13.7 million coin average per founder.  It was very skewed.  The top block of 17% of all coins (170M) were unclaimed and later redistributed per http://nxtgenesisblock.appspot.com/ .  Apparently only eight paid the maximum 1 BTC during the initial NXT buy-in period.  They hold almost half (40%) of all NXT - that's right at 400M.  

And yes, I understand everybody had their chance to kick in 1 BTC during the announced initial buy-in period, and didn't, and so missed the boat.  NXT did indeed have a more fair distribution system than most altcoins.  That doesn't mean the situation today is ideal - far from it.

IMHO, distribution of this coin to create a functional economy with true, smooth cash flow is the number one challenge this coin faces, far bigger than any zombie attack.  

Distribution of this coin into the "economy" solely via sales at an exchange is going to be a very bumpy ride.   NXT prices are moving at hyper warp speed, currently way too fast for its own good.  Unless there is some serious dumping by top-tier genesis block founders to keep prices down, the amount in wide circulation is going to get choked off at a  very small percentage of the total because it's just to expensive to buy.   I'm no economist, and I'd love to hear from somebody who is, but I read a lot of zerohedge.com and the NXT currency distribution situation is truly scary to me.

But it's gonna be interesting to watch, that's for sure.

NXT GENESIS BLOCK DATA:

FOUNDER   COINS      PERCENT      CUMULATIVE      ACCOUNT
                     
01   170486123      17.049      17.049      10105875265190800000  ("unclaimed" coins, reallocated among founders)
02   049875751      4.988      22.036      17228894143802800000
03   049875751      4.988      27.024      9433259657262170000
04   049875751      4.988      32.011      4277298711855900000
05   049875751      4.988      36.999      6878906112724070000
06   049875751      4.988      41.986      4747512364439220000
07   049875751      4.988      46.974      15558257163011300000
08   049875751      4.988      51.962      14839596582718800000
09   049875751      4.988      56.949      4071545868996390000
10   034913026      3.491      60.441      2175830371415040000
11   034913026      3.491      63.932      9161949457233560000
12   030922966      3.092      67.024      2584657662098650000
13   029856290      2.986      70.010      5491587494620050000
14   029437998      2.944      72.954      17491178046969500000
15   024912938      2.491      75.445      6785084810899230000
16   024880020      2.488      77.933      818877006463198000
17   022166945      2.217      80.150      10738613957974000000
18   019925363      1.993      82.142      5430757907205900000
19   016625250      1.663      83.805      7579216551136700000
20   015487585      1.549      85.353      8517842408878870000
21   014962725      1.496      86.850      9037328626462710000
22   014887912      1.489      88.338      4777958973882910000
23   011083556      1.108      89.447      11706312660844900000
24   009975150      0.998      90.444      1600633904360140000
25   009975150      0.998      91.442      18388669820699300000
26   009476393      0.948      92.389      4454381633636780000
27   008644631      0.864      93.254      10339765764359200000
28   006668388      0.667      93.921      10890046632913000000
29   005486333      0.549      94.469      1965151371996410000
30   005264386      0.526      94.996      8278234497743900000
31   005033128      0.503      95.499      9230759115816980000
32   004987575      0.499      95.998      5982846390354780000
33   004987575      0.499      96.497      11541844302056600000
34   004962637      0.496      96.993      9988839211066710000
35   002916900      0.292      97.285      9306550122583800000
36   002867856      0.287      97.571      1264744488939790000
37   002724712      0.272      97.844      7017504655955740000
38   002690963      0.269      98.113      1796652256451460000
39   002684479      0.268      98.381      8870453786186400000
40   002468850      0.247      98.628      3684449848581570000
41   001970092      0.197      98.825      620741658595224000
42   001845403      0.185      99.010      12101431510634200000
43   001482474      0.148      99.158      7085298282228890000
44   001476156      0.148      99.306      7542917420413510000
45   000997515      0.100      99.405      2401730748874920000
46   000987540      0.099      99.504      7577840883495850000
47   000682633      0.068      99.572      14748294830376600000
48   000585375      0.059      99.631      18345202375028300000
49   000583546      0.058      99.689      5095742298090230000
50   000528683      0.053      99.742      4803826772380370000
51   000503745      0.050      99.793      17156841960446700000
52   000498758      0.050      99.842      7549995577397140000
53   000482964      0.048      99.891      15190676494543400000
54   000349130      0.035      99.926      723492359641172000
55   000233751      0.023      99.949      11494237785755800000
56   000200999      0.020      99.969      7446331133773680000
57   000052370      0.005      99.974      17240396975291900000
58   000049876      0.005      99.979      14274119416917600000
59   000049876      0.005      99.984      12186190861869100000
60   000044888      0.004      99.989      3143507805486070000
61   000036742      0.004      99.993      163918645372308000
62   000009476      0.001      99.993      13330279748251000000
63   000009144      0.001      99.994      16516270647696100000
64   000007648      0.001      99.995      1814189588814300000
65   000007315      0.001      99.996      5271441507933310000
66   000006650      0.001      99.997      2694765945307850000
67   000006151      0.001      99.997      14557384677985300000
68   000005985      0.001      99.998      6290807999797350000
69   000005320      0.001      99.998      5622658764175890000
70   000004988      0.000      99.999      15874940801139900000
71   000004988      0.000      99.999      15253761794338700000
72   000003491      0.000      100.000      13138516747685900000
73   000003491      0.000      100.000      12558748907112300000

POST GENESIS BLOCK INITIAL DISTRIBUTION AFTER UNCLAIMED COINS REALLOCATED:


FOUNDER      COINS      PERCENT      CUMULATIVE      ACCOUNT
                        
      
01      49875751      4.988      04.988      0dff9e047bde2f3de9551ea9439190f62080b443060fd76f66f3b87af38c0b8a 523695
02      49875751      4.988      09.975      1965151371996418680 5486333
03      49875751      4.988      14.963      9433259657262176905 49875751
04      49875751      4.988      19.950      1ab5a766facab02b852d6d529c49c2d0b08f12bdd14edaaefefa33bbc6da9f5f 13441515
05      49875751      4.988      24.938      2046872575f876ef6ad1a10066d22aaa8ab4f448fe3271c03f26c074a91e6dc9 229428
06      49875751      4.988      29.925      14748294830376619968 682633
07      49875751      4.988      34.913      7017504655955743955 2724712
08      49875751      4.988      39.901      4803826772380379922 528683
09      34913026      3.491      43.392      9037328626462718729 14962725
10      34913026      3.491      46.883      1814189588814307776 7648
11      34913026      3.491      50.375      12558748907112364526 3491
12      34839043      3.484      53.858      15253761794338766759 4988
13      30922966      3.092      56.951      32046fc7228e1f76b31acb419919d954017cc247d9c25b0c8bc64737a273860e 34913026
14      29856290      2.986      59.936      2584657662098653454 30922966
15      29437998      2.944      62.880      7579216551136708118 16625250
16      24912938      2.491      65.371      17491178046969559641 29437998
17      24880020      2.488      67.859      4777958973882919649 14887912
18      22166945      2.217      70.076      41acd6c59d0688b62f936fc6d78db765eaf49bd562602da25553b1261c187666 1078812
19      19925363      1.993      72.069      5271441507933314159 7315
20      16625250      1.663      73.731      2401730748874927467 997515
21      15753921      1.575      75.307      1796652256451468602 2690963
22      15487585      1.549      76.855      11706312660844961581 11083556
23      14962725      1.496      78.352      723492359641172834 349130
24      14887912      1.489      79.840      17240396975291969151 52370
25      13441515      1.344      81.185      5891c7583963a6b21efd2cbffe24285d18d5d8edbe7c213d33ffbecc5e1979ce 4965297
26      12468938      1.247      82.431      5622658764175897611 5320
27      12468938      1.247      83.678      5aecacddbeecc6bcde9fa84ab8339f74effaa25f1c5740f36b34e30af3e70b84 12468938
28      12468938      1.247      84.925      5be196f15dc6a5c3e0f99d9325f389851086b55235e6515d01adf391f36fb0a5 12468938
29      12444000      1.244      86.170      16516270647696160902 9144
30      11083556      1.108      87.278      5982846390354787993 4987575
31      09975150      0.998      88.276      66be9c7ceccd2d3508fddbb141b45a30a10a561b8e891b9c653ceebd38d087a9 498758
32      09975150      0.998      89.273      12101431510634235443 1845403
33      09476393      0.948      90.221      14274119416917666908 49876
34      08644631      0.864      91.085      4454381633636789149 9476393
35      06668388      0.667      91.752      6c81747257decbd565fb3b80bab1ab35521e04e1772bdc84238431fba122c0ea 12444000
36      05876528      0.588      92.340      163918645372308887 36742
37      05486333      0.549      92.888      729ef0b203f616456a660080efb74d14fea93f05955859c3123cdba378032e6d 2480321
38      05264386      0.526      93.415      18345202375028346230 585375
39      05033128      0.503      93.918      14557384677985343260 6151
40      04987575      0.499      94.417      13138516747685979557 3491
41      04987575      0.499      94.916      4071545868996394636 49875751
42      04965297      0.497      95.412      15874940801139996458 4988
43      04962637      0.496      95.908      8278234497743900807 5264386
44      04962637      0.496      96.405      8f3b17cb030529bda48ead3d9337443df28c0e01c133ca3d380286698bb40ae7 15753921
45      02916900      0.292      96.696      1600633904360147460 9975150
46      02867856      0.287      96.983      9161949457233564608 34913026
47      02724712      0.272      97.256      1264744488939798088 2867856
48      02690963      0.269      97.525      8517842408878875334 15487585
49      02684479      0.268      97.793      9306550122583806885 2916900
50      02480321      0.248      98.041      6290807999797358345 5985
51      02468850      0.247      98.288      3143507805486077020 44888
52      01970092      0.197      98.485      9230759115816986914 5033128
53      01845403      0.185      98.670      7446331133773682477 200999
54      01482474      0.148      98.818      17228894143802851995 49875751
55      01476156      0.148      98.965      6878906112724074600 49875751
56      01078812      0.108      99.073      11494237785755831723 233751
57      00997515      0.100      99.173      b183d0a0aba2057dcb03812625fde9673660acab1a3256a1ead672859421f6ac 12468938
58      00987540      0.099      99.272      18388669820699395594 9975150
59      00748136      0.075      99.347      12186190861869148835 49876
60      00682633      0.068      99.415      10890046632913063215 6668388
61      00585375      0.059      99.473      bad959dd9bd3d1e583d9b75c7106e1f74955f7e995fe0d7ebf7309a6afdb0363 324192
62      00583546      0.058      99.532      2694765945307858403 6650
63      00528683      0.053      99.585      9988839211066715803 4962637
64      00523695      0.052      99.637      c2e4a50cb22d70a66e5ebe6c1a9cb06fd9cc7b8470b9a2f5959bec4ac0c0e307 4962637
65      00503745      0.050      99.687      2175830371415049383 34913026
66      00498758      0.050      99.737      7085298282228890923 1482474
67      00498758      0.050      99.787      5095742298090230979 583546
68      00482964      0.048      99.835      7549995577397145669 498758
69      00349130      0.035      99.870      10738613957974090819 22166945
70      00324192      0.032      99.903      15190676494543480574 482964
71      00233751      0.023      99.926      13330279748251018740 9476
72      00229428      0.023      99.949      d6ad24ccbbafaa1adb8623055f7653b101271c5df2210a43deee58270ce9f2b9 34839043
73      00200999      0.020      99.969      5430757907205901788 19925363
      00052370      0.005      99.974      3684449848581573439 2468850
      00049876      0.005      99.979      818877006463198736 24880020
      00049876      0.005      99.984      11541844302056663007 4987575
      00044888      0.004      99.989      8870453786186409991 2684479
      00036742      0.004      99.993      10339765764359265796 8644631
      00009476      0.001      99.993      7542917420413518667 1476156
      00009144      0.001      99.994      6785084810899231190 24912938
      00007648      0.001      99.995      620741658595224146 1970092
      00007315      0.001      99.996      5491587494620055787 29856290
      00006650      0.001      99.997      17156841960446798306 503745
      00006151      0.001      99.997      ed0a6cf2a8627769e55365464350d418487edfb5a8dedd7917b4ad1fa7af0295 748136
      00005985      0.001      99.998      14839596582718854826 49875751
      00005320      0.001      99.998      4747512364439223888 49875751
      00004988      0.000      99.999      15558257163011348529 49875751
      00004988      0.000      99.999      7577840883495855927 987540
      00003491      0.000      100.000      10105875265190846103 5876528
      00003491      0.000      100.000      



 
laowai80
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December 26, 2013, 09:59:03 AM
 #8303

Unless there is some serious dumping by top-tier genesis block foundersto keep prices down, the amount in wide circulation is going to get choked off at a  very small percentage of the total because it's just to expensive to buy.  

Don't worry about distribution.

In January real (10-100x bigger) DDoS and other types of attacks will start when hackers read the source code, many stakeholders will lose some or all faith and will sell a lot of their coins. In the next 1-2 months the network will be more down than up for sure.
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December 26, 2013, 10:00:16 AM
 #8304

The top founder got 17% of all coins (170M).

These were unclaimed coins. 90% r claimed already and were sent to their legit owners. More info - http://nxtgenesisblock.appspot.com/
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December 26, 2013, 10:00:24 AM
 #8305

I'm trying to forge with my RaspPi (raspbian, java version: 1.7.0_40) since a few days.
Tried different versions of the client (0.4.73 now), but after some time the client is stuck in an IllegalStateException loop and no new blocks are shown in the web ui.

When I reload the webpage, my wallet is locked again, but new blocks are shown. After unlocking the wallet, I have to wait again a long time for forging.

Here is the terminal output of the exception:
Code:
[2013-12-26 10:41:40.958] 17: java.lang.IllegalStateException: AsyncContext completed
[2013-12-26 10:41:40.987] 17: java.lang.IllegalStateException: AsyncContext completed
[2013-12-26 10:41:41.060] 17: java.lang.IllegalStateException: AsyncContext completed

Please help me to fix this error.

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December 26, 2013, 10:04:14 AM
 #8306

I'm trying to forge with my RaspPi (raspbian, java version: 1.7.0_40) since a few days.
Tried different versions of the client (0.4.73 now), but after some time the client is stuck in an IllegalStateException loop and no new blocks are shown in the web ui.

When I reload the webpage, my wallet is locked again, but new blocks are shown. After unlocking the wallet, I have to wait again a long time for forging.

Here is the terminal output of the exception:
Code:
[2013-12-26 10:41:40.958] 17: java.lang.IllegalStateException: AsyncContext completed
[2013-12-26 10:41:40.987] 17: java.lang.IllegalStateException: AsyncContext completed
[2013-12-26 10:41:41.060] 17: java.lang.IllegalStateException: AsyncContext completed

Please help me to fix this error.



This is related to web interface code. It will be removed completely after we get better clients.

Code:
void send(JSONObject response) {

synchronized (this) {

if (asyncContext == null) {

pendingResponses.offer(response);

} else {

JSONArray responses = new JSONArray();
JSONObject pendingResponse;
while ((pendingResponse = pendingResponses.poll()) != null) {

responses.add(pendingResponse);

}
responses.add(response);

JSONObject combinedResponse = new JSONObject();
combinedResponse.put("responses", responses);

try {

asyncContext.getResponse().setContentType("text/plain; charset=UTF-8");

ServletOutputStream servletOutputStream = asyncContext.getResponse().getOutputStream();
servletOutputStream.write(combinedResponse.toString().getBytes("UTF-8"));
servletOutputStream.close();

asyncContext.complete();
asyncContext = null;

} catch (Exception e) {

logMessage("17: " + e.toString());

}

}

}

}
rickyjames
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December 26, 2013, 10:04:31 AM
 #8307

The top founder got 17% of all coins (170M).

These were unclaimed coins. 90% r claimed already and were sent to their legit owners. More info - http://nxtgenesisblock.appspot.com/

My original post modded to reflect this, thx.
landomata
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December 26, 2013, 10:05:29 AM
 #8308

The top founder got 17% of all coins (170M).

These were unclaimed coins. 90% r claimed already and were sent to their legit owners. More info - http://nxtgenesisblock.appspot.com/

so market is really only 830,000,000 Nxt at the moment....give or take the few that were destroyed.


bitcoinpaul
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December 26, 2013, 10:06:25 AM
 #8309

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?

Any comments on that?

We can host binaries on the blockchain... Anyway, in April all the source code will be published.

I think at this stage it would be too dangerous to let the client update through blockchain. There are still bugs in the code (i believe) and they may be used by hackers to spread some malicious code to everyone...
But i like the idea! Maybe in some time, when the source gets released and NXT-network is more stable.

That's right. Let's review the idea in the future.
ZeroTheGreat
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December 26, 2013, 10:11:47 AM
 #8310

I like the idea but not the premine
There's no such thing as pre-mine in only-PoS-system. All coins in system creates manually with a line of code. Well, some dev can pre-sell 100% and say that he only later buy some for himself at exhcange(s) (transparent, if all other first-time stakeholders revealed, ofc), but it'll be much more suspicious (at least, for me).
wesleyh
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December 26, 2013, 10:15:13 AM
 #8311

What kind of timestamps are used for transactions? "2679330" is no unix timestamp, what is it then?
ZeroTheGreat
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December 26, 2013, 10:15:44 AM
 #8312

The price can easily be manipulated on the exchange
That's possible. Don't use suspicious exchanges.
abctc
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December 26, 2013, 10:17:49 AM
 #8313

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?

Any comments on that?
- the creator foresaw that:

By the way, in addition to decentralized DNS Nxt will have decentralized file storage.  Nxt client will be hosted on the blockchain, updates will be published from my Nxt account (the same as the generator of the genesis block).  I hope my Nxt stake will be enough to push all planned updates.  The current version takes the same volume as 1280 payment transactions, that can be quite expensive to pay fees for storing 160 KiB.

█████████████████████████████████████████████████
███████████████████████████████████████████████████
█████████████████████████████████████████████████████
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█████
█████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████
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██████████████████████████████████████████████████████████████████
   
, the Next platform.  Magis quam Moneta (More than a Coin)
landomata
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December 26, 2013, 10:18:29 AM
 #8314

we really need to protect  nextcoin.org ...if it keeps getting shut down we won't be able to disseminate information and this will slow Nxt down.




bitcoinpaul
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December 26, 2013, 10:18:39 AM
 #8315

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?

Any comments on that?
- the creator foresaw this:

By the way, in addition to decentralized DNS Nxt will have decentralized file storage.  Nxt client will be hosted on the blockchain, updates will be published from my Nxt account (the same as the generator of the genesis block).  I hope my Nxt stake will be enough to push all planned updates.  The current version takes the same volume as 1280 payment transactions, that can be quite expensive to pay fees for storing 160 KiB.

 Smiley
Come-from-Beyond
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December 26, 2013, 10:20:09 AM
 #8316

What kind of timestamps are used for transactions? "2679330" is no unix timestamp, what is it then?

It's seconds since genesis block. 24th of Nov, 2013 12:00:00 UTC.
ZeroTheGreat
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December 26, 2013, 10:22:03 AM
 #8317

Dude, this isn't even open source.
Some code published at thread, and big part of all code u can get by disassembling Java binaries. So far no one wrote even about tryng it. Actually quite intresting what percentage of code opened right now.
wakasaki808
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December 26, 2013, 10:22:16 AM
 #8318

we really need to protect  nextcoin.org ...if it keeps getting shut down we won't be able to disseminate information and this will slow Nxt down.





well...we also have the https://nxtalk.org/index.php forum.

Not nearly as much traffic though compared to NextCoin
landomata
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December 26, 2013, 10:23:42 AM
 #8319

we really need to protect  nextcoin.org ...if it keeps getting shut down we won't be able to disseminate information and this will slow Nxt down.





well...we also have the https://nxtalk.org/index.php forum.

Not nearly as much traffic though compared to NextCoin

We need both up and running....this issue has to be fixed ASAP

NxtChoice
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December 26, 2013, 10:24:04 AM
 #8320

@CfB, could you please explain how to set those parameters?

Thanks.


Questions on hallmark:

How to set the weight, and the date to get the hallmark?

Should I set the weight as the number of coins in my account?
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