NXT :: descendant of Bitcoin - Updated Information

[Geo_log]

Other than not having the source code, what is to stop me from making a modified client that constantly attempts to generate blocks every second?

- this was discussed here: https://bitcointalk.org/index.php?topic=303898.msg3411024#msg3411024

[abctc]

May I have some coins also?  9369847254484452107

- sent

[xibeijan]

So what about the 100M nxt non claimed early adopters coins account? I see it mining like mad..

He earned 4573 NXT as fees. I don't see any problem here.

Good work.

Anyone know where I can buy some NXT?  Where's the exchange?

[xibeijan]

May I have some coins also?  9369847254484452107

- sent

Thanks!

[xibeijan]

Will the minimum TX fee always be 1 NXT?

Do you see this affecting the value of the currency, long-term or short-term?

OR, do you think the value of 1 NXT will be equal to whatever someone is willing to pay for a TX?

Will the colored coin / crypto currency exchange also operate on a 1 NXT transaction fee?

Thanks.

[GCInc.]

Are transaction numbers not visible anywhere in the client?  What then are the top row and third row long numbers in the block area of the client... cannot get them to match with the block explorer.

[nnn]

1 NXT is fixed unless the client is modified. If NXT really takes off transaction fees will likely be more due to the 255 transaction limit per block.

Does NXT support multiple senders / receivers in a transaction (CoinJoin)?

[xibeijan]

1 NXT is fixed unless the client is modified. If NXT really takes off transaction fees will likely be more due to the 255 transaction limit per block.

Does NXT support multiple senders / receivers in a transaction (CoinJoin)?

BTC is doing over 100,000 transactions per day now.

IF NXT became that popular, then that would be 100000/1440 ~= 69.5 transactions per block.

So, that leaves plenty of room for growth.  As is, NXT can support up to 367,200 transactions per day.

Looks like you've thought it through pretty well, but what happens if you need more transactions per block?

[Come-from-Beyond]

Are transaction numbers not visible anywhere in the client?   What then are the top row and third row long numbers in the block area of the client... cannot get them to match with the block explorer.

Hover over the icon next to that number to get a tooltip. I can't get what numbers u r talking about.

[xibeijan]

Does anyone know what instant transaction mode is?

[Come-from-Beyond]

Looks like you've thought it through pretty well, but what happens if you need more transactions per block?

It's up to stakeholders (owning 51% of all coins). They may decide to extend the transaction limit per block.

[Come-from-Beyond]

Does anyone know what instant transaction mode is?

It's not implemented, so we don't know details yet.

[xibeijan]

Looks like you've thought it through pretty well, but what happens if you need more transactions per block?

It's up to stakeholders (owning 51% of all coins). They may decide to extend the transaction limit per block.

Who owns the other 49% of coins?

[amano]

I finaly got the latest version to run, got a few nxt, and then it showed me this :
"You can generate the next block in 617 days 21 hours 42 minutes 28 seconds"


Geez.
So the ability to generate a block depend on how many coins you have ?
Guess I ain't nowhere to close to getting any more coins from this blockmining.
Support is welcome on 1745206542079803390 ;-)


Edit : it just jumped to "You can generate the next block in 1060 days 5 hours 37 minutes 56 seconds." damn ... wee bit discouraged here

[xibeijan]

I finaly got the latest version to run, got a few nxt, and then it showed me this :
"You can generate the next block in 617 days 21 hours 42 minutes 28 seconds"


Geez.
So the ability to generate a block depend on how many coins you have ?
Guess I ain't nowhere to close to getting any more coins from this blockmining.
Support is welcome on 1745206542079803390 ;-)

Buy em, while you can.  1 BTC will get you a pretty good stake.

[Come-from-Beyond]

Looks like you've thought it through pretty well, but what happens if you need more transactions per block?

It's up to stakeholders (owning 51% of all coins). They may decide to extend the transaction limit per block.

Who owns the other 49% of coins?

The other part of stakeholders. I meant that 51% of stakeholders is necessary for any big changes.

[abctc]

Who owns the other 49% of coins?

- didn't you read about voting system, built in Nxt? May be not implemented yet, though.

[xibeijan]

I have seen myself 3s from generating a block, then suddenly it changes to 15 hours.  Does it automatically, completely reset my counter each time?

Other than not having the source code, what is to stop me from making a modified client that constantly attempts to generate blocks every second?

It resets the timer after each block.

Block generation is deterministic. All attempts to find a block give exactly the same result until a new block generated.

Can you please put this in English or Chinese.  What does block generation is deterministic mean?

[xibeijan]

Who owns the other 49% of coins?

- didn't you read about voting system, built in Nxt? May be not implemented yet, though.

Thanks.

[Come-from-Beyond]

I finaly got the latest version to run, got a few nxt, and then it showed me this :
"You can generate the next block in 617 days 21 hours 42 minutes 28 seconds"


Geez.
So the ability to generate a block depend on how many coins you have ?
Guess I ain't nowhere to close to getting any more coins from this blockmining.
Support is welcome on 1745206542079803390 ;-)


Edit : it just jumped to "You can generate the next block in 1060 days 5 hours 37 minutes 56 seconds." damn ... wee bit discouraged here

Keep watching, one day u'll see only a few minutes/seconds.