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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756163 times)
mr_random
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December 26, 2013, 04:10:07 PM
 #8641

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.


How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

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1568984894
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December 26, 2013, 04:12:39 PM
 #8642

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

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December 26, 2013, 04:15:10 PM
 #8643

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

Thanks for your hard work! If there is anything you need to help, please let me know.

NXT VPS Server Donations can be sent here: 6044921191674841550
At the end of each month I will donate some of them back to the community.
This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting.
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December 26, 2013, 04:16:03 PM
 #8644

dgex.com is currently unreachable. Sad
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December 26, 2013, 04:16:12 PM
 #8645

The decentralization is the best solution. More nodes, more echanges, more forums...
bitcoinpaul
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December 26, 2013, 04:16:32 PM
 #8646

The decentralization is the best solution. More nodes, more echanges, more forums...

+1
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December 26, 2013, 04:17:26 PM
 #8647

Does anyone have new version? My keeps saying java.lang.NullPointerException
utopianfuture
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December 26, 2013, 04:18:37 PM
 #8648

The decentralization is the best solution. More nodes, more echanges, more forums...

I already joined your forum. But you need to promote yours more as an alternative to Nextcoin.org. The more public places for discussion the better.


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December 26, 2013, 04:22:38 PM
 #8649

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.


How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

I repeat my contention: I believe it will be low cost of many, many Raspberry Pis and not the high motivation of many, many forgers that will ultimately make the NXT network a viable one.
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December 26, 2013, 04:23:02 PM
 #8650

Does anyone have new version? My keeps saying java.lang.NullPointerException

replace blocks.nxt and transactions.nxt files with their .bak earlier copies and restart NXT, see if that helps.
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December 26, 2013, 04:25:17 PM
 #8651

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.


How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

Your math assumes that all 1000000000 NXT will constantly be in nodes.
Once the coin moves not everyone will have their computer on 24/7.
Hence, the percentage of 0,0001 isn´t the correct percentage for your chance at forging a block.

Member of the Nxt Foundation | Donations: NXT-D6K7-MLY6-98FM-FLL5T
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December 26, 2013, 04:25:41 PM
 #8652

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

Thanks for your efficient and hard work,dgex is ok now.
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December 26, 2013, 04:28:34 PM
 #8653

Network seems to be holding up fine since last release.  Good job devs.

I think we need to take it to the next level with a professional website and high-quality informational video.

Anyone got a bounty for this?  I know a professional graphics designer.  He can blow everything you've got out of the water, but he ain't cheep.  He can easily do stuff on the quality level of the official bitcoin videos.

PM me if you want to arrange this.

if anyone does want to arrange this, please let me know.  I and a few other stakeholders are forming the "NXT Foundation" using the domain nxtcrypto.org and we do have a basic WWW page set up now that is intended to be the public face of NXT.  ut the webpage could use some polishing.   I wish I could point you to the section on nextcoin discussing this but its down right now. 
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December 26, 2013, 04:28:57 PM
 #8654



I just did a fresh install of my pack, using my instructions, and it worked. The included blockchain is healthy.

So I assume you messed up your chain files somehow. A dirty shutdown of the server can be enough for this to happen. Do it only by SIGINT/Ctrl+C and wait until it is shut down.

As a solution for now, just do "rm blocks* transactions*" and get fresh files.

Thanks, I killed java once, that seems to be the reason. Just did a fresh unpacking etc. and the problem seems to be solved.
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December 26, 2013, 04:29:35 PM
 #8655

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.


How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

I repeat my contention: I believe it will be low cost of many, many Raspberry Pis and not the high motivation of many, many forgers that will ultimately make the NXT network a viable one.

I agree the will and desire to make the Nxt network stands and prospers is the strongest motivator. In the near future the transaction will be dropped to 0.01 Nxt. Forging to make money does not make much financial sense.


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  TomoChain  •    •  TomoChain 
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punkrock
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December 26, 2013, 04:29:54 PM
 #8656

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

How about adding reCaptcha and E-Mail-confirmation to get rid of these fake registrations?
And maybe you want to check this out: https://projectshield.withgoogle.com/
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December 26, 2013, 04:31:15 PM
 #8657

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.



budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.
EmoneyRu
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December 26, 2013, 04:35:09 PM
 #8658

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.



budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.

Confirm

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

Amazon micro: works fine. Mainly paying for more I/Os (2 million ended in 5 days)
Directspace DSVPS.1 : works fine.


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December 26, 2013, 04:35:24 PM
 #8659

WellKnowPeers 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; 66.197.138.90; 64.120.180.106; 109.230.224.65;

Vps owners: Keep this easyCopyString updated with your vps!! Copy and post your new version Smiley

bitcoinrocks
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December 26, 2013, 04:35:28 PM
 #8660

Quote
I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

Quote
budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.

I'm also very interested in this.
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