NXT :: descendant of Bitcoin - Updated Information

[SpeedDemon13]

Think they are exists forever. Like Earth, and Sun, and starts in the night sky.

Ok, and what does this sentence mean from the first post?

"Coins are earned solely by charging transaction fees."

How is this exactly initiated? Because, I'm still at zero NXT for the past hour or so.

[SpeedDemon13]

you need to update the first post, like to say you need at least 1 Nxt to mine Nxt - are you supposed to buy your first one or what?  seems dodgy.

That would be a turn off if buying NXT is required to start mining.

[Come-from-Beyond]

But this won´t solve the issue that arise when someone already holds a lot of coins and is not spending them, just "proofing" and earning new coins. How to make sure, that one person can´t hold the majority of the coins?

The market will find equilibrium point, don't worry

[MikeH]

That would be a turn off if buying NXT is required to start mining.

Yea people mentioning it on the 5th page of posts - odd that it wasn't brought up before then.

[SpeedDemon13]

That would be a turn off if buying NXT is required to start mining.

Yea people mentioning it on the 5th page of posts - odd that it wasn't brought up before then.

Sounds so ponzi/pyramid scheme-ish. It's cool that on NXT only $0.015 right now, but do I buy it from http://www.dgex.com/index.htm to get it started or can someone just simply send me one and I send it back immediately? The main selling point for me is it the non-requirement of traditional mining hardware (ie. GPU, ASIC and FPGA) and the PoS.

[BitThink]

That would be a turn off if buying NXT is required to start mining.

Yea people mentioning it on the 5th page of posts - odd that it wasn't brought up before then.

Sounds so ponzi/pyramid scheme-ish. It's cool that on NXT only $0.015 right now, but do I buy it from http://www.dgex.com/index.htm to get it started or can someone just simply send me one and I send it back immediately? The main selling point for me is it the non-requirement of traditional mining hardware (ie. GPU, ASIC and FPGA) and the PoS.

It's not PoS mining at all. All coins exist in the beginning, and PoS mining just gets the tiny amount (almost 0 now) of transaction fees. More than 90% of transactions have no transaction fee at all and you are super lucky to mine a block with tx fee 1 nxt even if you have 10M nxt. So forget about mining.

[bizz]

While its a bit quiet here I thought I would send an idea I have been working on regarding a Nxt coin graphic for the shareholders to see.
I will not be precious over this design. If you like it and would like to see some changes, I will be happy to make the changes.

Also if there is an official Nxt coin design thread, I apologize for posting it here.

Crazybonkers

I like it. Nice job!

+1!

[SpeedDemon13]

That would be a turn off if buying NXT is required to start mining.

Yea people mentioning it on the 5th page of posts - odd that it wasn't brought up before then.

Sounds so ponzi/pyramid scheme-ish. It's cool that on NXT only $0.015 right now, but do I buy it from http://www.dgex.com/index.htm to get it started or can someone just simply send me one and I send it back immediately? The main selling point for me is it the non-requirement of traditional mining hardware (ie. GPU, ASIC and FPGA) and the PoS.

It's not PoS mining at all. All coins exist in the beginning, and PoS mining just gets the tiny amount (almost 0 now) of transaction fees. More than 90% of transactions have no transaction fee at all and you are super lucky to mine a block with tx fee 1 nxt even if you have 10M nxt. So forget about mining.

If your correct, then there's really no point for me to even give this a try. Thought that the transaction fees created more, but I need more transparent information about NXT. This coin is so clouded at the moment.

[abctc]

..
Well, for me seems .. , there is no point using it and the mass will not adopt at as they are suspicious with "pre mined" coins, even if this is a new technology. They need to get motivated to use the currency and "proof", to earn coins.

- now only a core of Nxt launched. The developer promised to add some exciting features:

ColorCoins, distributed  stock exchange, tokens, reputation and voting systems and messaging, chained transactions, auto blockchain shrinking, distributed App-store, instant transactions, cloud version of the client, two-fase transaction for customer protection, hop protocol, decentralised DNS a-la Namecoin, Nxt-notes, mixing & escrow, filestore (just pay fee), and even integrated distributed  shop (hello, SR).

[laowai80]

The fact that it's coded in java from scratch, and not copied from bitcoin source makes it interesting, plus no need to have a large blockchain which is an advantage over bitcoin. The author actually worked hard to get it done, so buying a few dolla worth of it may not be a too bad idea.

[crazybonkers]

I guess the question is for some. How much Nxt do each shareholder hold? And how is the remaining Nxt of that billion distributed to the public? And who receives the currency on the sales of that remaining Nxt?

Oh maybe i missed Pos

[ImmortAlex]

Ok, and what does this sentence mean from the first post?
"Coins are earned solely by charging transaction fees."

That means: there is 1 billion coins from the genesis block, and no more, forever.
The profit of mining is transaction fees only.

[ImmortAlex]

I guess the question is for some. How much Nxt do each shareholder hold?

List of top stake holders is somewhere is this topic.

And how is the remaining Nxt of that billion distributed to the public?

There are not so many coins which is not distributed from the beginning.

[crazybonkers]

I guess the question is for some. How much Nxt do each shareholder hold?

List of top stake holders is somewhere is this topic.

And how is the remaining Nxt of that billion distributed to the public?

There are not so many coins which is not distributed from the beginning.

Understood, I am quite new to crypto currency's and for got about the genesis block

[SpeedDemon13]

Ok, and what does this sentence mean from the first post?
"Coins are earned solely by charging transaction fees."

That means: there is 1 billion coins from the genesis block, and no more, forever.
The profit of mining is transaction fees only.

I'm down for the transaction fees for revenue, but where do I get my first/initial NXT to start it up. I understand from the beginning it's only 1 billion coins only, period! I know that they are trying to add more features/services.

[Come-from-Beyond]

Legit founders keep claiming coins. The last stake I helped to claim a day ago was worth 12M NXT.

[ImmortAlex]

For those who afraid of big stake holders...
Theoretically speaking, if top holders continue to keep their millions, all Nxt idea became cosidered "scam" and stop working. So top holders are interested to distribute most of their stake from the beginning.
But it is only theory. Will it go to practice - we'll see.

[crazybonkers]

Legit founders keep claiming coins. The last stake I helped to claim a day ago was worth 12M NXT.

You can buy that pizza! i'll have one

[ImmortAlex]

I'm down for the transaction fees for revenue, but where do I get my first/initial NXT to start it up. I understand from the beginning it's only 1 billion coins only, period! I know that they are trying to add more features/services.

There's exchange, there's trading topic, there's bounty topic...

[Sharky444]

Code:

[2013-12-04 09:28:38.970] 7: java.io.IOException: 由于线程退出或应用程序请求，已
放弃 I/O 操作。

[2013-12-04 09:28:38.985] 8: java.io.IOException: 由于线程退出或应用程序请求，已
放弃 I/O 操作。

Thank you. Both exceptions happened in code that accepts connections (7 == client, 8 == bot). Unfortunatelly, I can't translate those funny symbols...

Google translate:

As the thread exit or an application request, has Give up I / O operations.