NXT :: descendant of Bitcoin - Updated Information

[newcn]

Newcn,

The simplegateway doesnt need you to create any special account, you can use your existing wallet
It is a modal page, so if you have it set to deposit, it will ask for your ripple address, if withdraw your coin address

To everyone suffering from dgex outages, I would like to make proposal
I would like to complete development of tradiing page asap so that between now and availability of peer to peer xchange, we will have distributed wxchange using ripple network. There are more than just ripple's servers and with google as a backer, let the ddosers go up against the distributed ripple network

Maybe after end of jan, nobody will want to use our exchange, so this is a big risk for us. I think that even after peer to peer xchange is in nxt, there will still be a lot of people who will want to get some fiat, we all have to buy groceries somehow. We already have usd gateway so you can convert btc/nxt to usd

Ripple is also very popular in china and this could provide an easy path for Chinese investors

I think the next six weeks are critical and having a stable way to trade nxt is strategically important, i am hoping to get significant founder support

I want to provide nxt exchange with commissions of 0, fees of 0, deposit fee of 0, withdrawal fee of zero
We believe enough in nxt future to pay for our expenses from forging revenues.

I hope the community will see the value that a totally frictionless trading for nxt will do.

There is no such place for btc anymore, btc china used to be that way and got to $100 mil volume/day

All i need is a big enough bounty to pay for development costs and nxt will always be able to trade nxt without any fees, no withdrawal fees, automated deposit and withddrawal

James

Hi,
   thank you for your reply.
I've been exchanging CNY inside ripple,
Is your platform different from that?
for I did not see nxt-related exchange in ripple's TRADE page.
I need more instructions. you can put it in your webpage

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[landomata]

Ripple is No. 2 on Coinmarketcap  

[gbeirn]

To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

I have set up a public node with 2G RAM.

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?

I am not sure with a dynamic IP address, did anyone every figure out something for this?

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/

Well no the problem is the IP address must be used to create the hallmark. This would help for a well-known peer.

[EmoneyRu]

Hi all, I'd like share a little script that solve the unexpected quit problem:

#!/bin/sh
while true
do
        pidof java
        if [ $? -gt 0 ]; then
                echo "Restart process " >> /tmp/nxt_restart.log
                java  -Xms700m -Xmx900m -jar start.jar
        else
                sleep 5
        fi
done

you may need adjust the mem parameter accordingly

I'd like to repeat my solution with cron

[laowai80]

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/

Well no the problem is the IP address must be used to create the hallmark. This would help for a well-known peer.
[/quote]

You can put the domain in the hallmark generation form,
and set the domain in the MyAddress parameter, no?

[ZeroTheGreat]

I know that it's very unlikely to use the same long password in 2 different addresses, but the problem is that someone could just spam different passwords and randomly hit some existing addresses.

Bruteforcing can destroy any cryptosystem. But for now it takes (for all imaginable potential attackers) too much time to be real threat. Much easier track you, hack into your computer/safe/head and steal pass instead of trying to combinate it step-by-step from zero.

[gbeirn]

Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

Yep, you should just buy $1000s of dollars of specialized equipment that can never be used for anything else and consumes a ton of power and mine bitcoins.

Ha ha ha.  Here's some reading material for you:

http://www.drdouggreen.com/wp-content/Propaganda.pdf
http://www.truth-out.org/news/item/1964:fourteen-propaganda-techniques-fox-news-uses-to-brainwash-americans

Comparing something bad with something worse doesn't make the original thing less bad.  

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

Me going out and buying Bitcoin ASICs as you suggest does not address the problem I identify.  Keep thinking, maybe you can come up with a better idea.

This was sort of tounge-in-cheek. One could easily create a NXT pool similar to other currencies. Everyone pools their NXT together into one account to increase what they could forage alone. Requires extreme trust in the pool operator however.

[Come-from-Beyond]

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?

U can't atm.

[gbeirn]

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/

Well no the problem is the IP address must be used to create the hallmark. This would help for a well-known peer.

You can put the domain in the hallmark generation form,
and set the domain in the MyAddress parameter, no?
[/quote]

Hmmm, can you? I never tried that. I assumed it had to be a IP address not a FQDN

[Come-from-Beyond]

Sorry, CfB, can you add constantly link to the last or recommended version to your first post in this thread? Wikll be much easier find it inside topic in this case.

I can't, I'm not the topic starter.

[nexern]

CfB, how is the decentralised exchange testing going?

We've done with testing. Now all depends on when nexern completes his client.

yes, working on the client prototype and i am more than confident we have not
only the asset exchange until end next month. i would like to spend more time
on the client but i have to clear and finish some explorer issues before. don't like
to leave the explorer in an bad shape when starting fulltime with the client.
preparing a complete roadmap this weekend and post it here. some feedback would
be nice what additional features we like to see already integrated right from start.

Hi nexern. Are you considering listing your blockchain explorer company in the asset exchange ? we need some credible assets at first and I can' think of any better example.
I am going to buy your first share.

this is a nice idea indeed but blockexplorer can't pay any dividends to investors, so it wouldn't make sense.
while i understand, that many portals are in needs to placing banner-adds to generate some income, i wouldn't
because 1. the hosting is already payed for +1 year by donations and 2. i am not a big fan of blinki-blinki pages,
while searching for important informations ;-)

btw. i have checked a possible client arm port again but i have to say this is not possible within the next 3 months.
the gui/render engine would need a partially rewrite which needs to much time. perhaps something like sencha/phonegap?
would be good for this if quickly needed but i have not sufficient mobil-dev experience to built this in high quality.
perhaps some good ios developer could take a look at this but the native client will run for sure on win/mac/nix
out of the box as announced before.

[laowai80]

Hmmm, can you? I never tried that. I assumed it had to be a IP address not a FQDN

yeah, it'll work. but the IP resolved by the dynamic dns must still be visible to the world, must not be behind NAT/router.

[Anon136]

if i send a payment on an orphaned chain how do i get it back?

*edit* /get it over to the right chain

[davethetrousers]

if i send a payment on an orphaned chain how do i get it back?

Get rid of transactions.nxt and get a fresh, orphan-less one?

[bitcoinrocks]

Does the DDoS cause the nodes to max out their transmit bandwidth or receive bandwidth?

[Come-from-Beyond]

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

Me going out and buying Bitcoin ASICs as you suggest does not address the problem I identify.  Keep thinking, maybe you can come up with a better idea.

BCNext has a lot of tricks up his sleeve. NXT nodes will work as Service Providers. This is how bloated blockchain problem is supposed to be solved. And this is what will solve your problem.

[killver]

I am currently trying to get it running on my raspy, but when I access the frontend I get: java.lang.NullPointerException

I can click the message away but after unlocking everything is empty, no blocks, no transactions and so on.

[laowai80]

Does the DDoS cause the nodes to max out their transmit bandwidth or receive bandwidth?

I see now 50 mb/s in, 2 mb/s out

[Damelon]

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

With traditional coins, mining pools allow a steady income rather than once-in-a-lifetime lottery windfall when (/if) you finally get a block. Is there to be a similar concept for someone to bother forging with only a handful of NXT?

I think you have a skewed viewpoint.
ATM scrypt coins offer a fairly decent return, IF you already have the equipment. If not, then you would need to invest in that (GPU´s that give a decent return aren´t cheap)
That will change totally middle of next year, when dedicated scrypt miners will arrive. Then you will need to fork out massively to start and GPU mining will no longer be profitable.
Not to mention that mining costs power!

Also, the market in coins after the BTC boom is crazy and nothing like a real market. At the moment, you are cashing in on the fact that people have no idea what they are doing. That´s fun, but won´t last. As soon as the power scrypt miners come in, people will turn away, and you will be dealing with people who mean real business. Then profits will mean WORK.

With NXT, this is no different, only now you have to take a transparent risk: fork out money if you trust it and hope for gains. If you don´t trust it, like in any venture, you don´t step in. There were a few people who were willing to invest early with no garantuees except that they were willing. After that, some people could get in fairly cheaply again, also for no garantuees but their trust, based on knowledge and insight.

And now, because people WANT to get in and have a piece of the pie, you have to pay more. Supply and demand.

This is perfectly normal business sense and I am a bit confused why the hell this is so hard for people to grasp.

[davethetrousers]

I am currently trying to get it running on my raspy, but when I access the frontend I get: java.lang.NullPointerException

I can click the message away but after unlocking everything is empty, no blocks, no transactions and so on.

Did you use my all-in-one pack? What does the server daemon say on startup? Any exceptions there?