NXT :: descendant of Bitcoin - Updated Information

[bitcoinpaul]

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.

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[ZeroTheGreat]

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]

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

[ZeroTheGreat]

The price can easily be manipulated on the exchange

That's possible. Don't use suspicious exchanges.

[abctc]

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.

[landomata]

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]

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.

 

[Come-from-Beyond]

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]

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]

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]

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]

@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?

[ZeroTheGreat]

too much risk with this

That's correct! Manage risks.

[rickyjames]

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.

Exactly.  And in so doing, lose a lot of money they invested at an exchange early on, while only releasing the small proportion of coins that were sold to them earlier by initial founders. This is my definition of "a bumpy ride".

Meanwhile, the founders have no financial incentive to sell during a price decline like the one you describe.   They can "afford" to ride NXT all the way back down to zero at an exchange and lose at most 1 BTC in real money out of pocket while waiting out any price decline.  They have effectively zero risk here no matter what happens. 

Unless they now think of themselves as becoming rich in the last 90 days, and a need to get their new-found but unrealized wealth out of the market while they still can....

For them, "that's a bumpy ride", too....

[xyz]

Need help!

Sorry if my problem is written already, but with my poor English it's  not possible to read this whole thread - this would need month meanwhile...

I downloaded and installed nxt.zip version 0.3.13. I created the bat-file and created in my browser my account. I see working "active peers" and in the blocks field is written "Recent blocks (60)" -  nothing else...
I thought nothing happened because I don't have any NXT in my account and bought some at dgex.com. Now I see in the blockchain that the NXT are sent to my account, but nothing changed... I don't see them in my account and no more blocks appairs...
What I am doing wrong? I have to say that I have a very low internet connection.. Can this be my problem?

Thanks for any help!

you should at least instal 0.4.5

Now I have installed the new version - but it seems worse...  
Blocks are the same - 60, but only 1 peer (before have been much more).

What's now?!

what version u installed? use 0.4.7e , it contains valid block and transaction file.

Guys can someone please link me to a proper hallmark thing wiki page where I can get some info on that. I am going all out and installing at least 10 nodes, hallmarked. Just tell me what I can do to help, Not being able to forge is really pissing me off....

why not check first page  

Yes, I have installed the newest one: 0.4.7e and something is working - I can see there is  traffic. But in my account changes nothing.

Once more: can somebody help!!! Please...

[EmoneyRu]

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).

Idea that some people have all coins and distributing them is fairly is Utopia. I still think that coin should be generated.
You don't need mining via calculating useless numbers? Create them randomly from transactions and give them for node hosting (independently for current stake), for file hosting, for participating in Grid. Whatever we can imagine and check. How many should be generated and what ratio should be? Voting system is planned - lets use it.

I think it is bubble now. Price too high for the current number of features.
Why I'm here:
* i already got x N for invested money + donations
* it is interesting
* need for setting up servers made me learn some new technologies

First one is good, but it is too low to prevail on others.
@all just have fun!

[PGPpfKkx]

i read somewhere that nxt could be used for decentralized file storage.

i was about to start building a service based on datacoin, can someone point me to a document or thread with more information about that?

thinking about switching targets

[swartzfeger]

Could someone shed some light on aliases? I did about 200 or so mostly for fun, some serious. Here's my account using the new alias action in block explorer:

http://87.230.14.1/nxt/nxt.cgi?action=4000&acc=13891739725946840876

You can see the fees deducted, the transactions, everything, but I have 0 aliases listed. Does it take block explorer time to list them?

[davidoski]

Nxt has just overtaken Peercoin and is on the 4th position.

http://coinmarketcap.com/

Mastercoin not far away.

[Come-from-Beyond]

@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?

If u own only 1 node, then set weight to 100. Use http://localhost:7874/admin.html