NXT :: descendant of Bitcoin - Updated Information

[brooklynbtc]

No one ive shown this coin to have figured out how to mine or anything, myself included. How?

you don't mine, you forge. All coins are created and you earn transaction fees by keeping your wallet open and connected.

Proof of stake. More coins means more forging power.

1 billion coins ever, so owning 1 million gives you .1% of all transaction fees.


read the wiki

http://nxtcrypto.wikia.com/wiki/Nxt_Wiki

[1715633163]

1715633163

[1715633163]

1715633163

[giveBTCpls]

No one ive shown this coin to have figured out how to mine or anything, myself included. How?

you don't mine, you forge. All coins are created and you earn transaction fees by keeping your wallet open and connected.

Proof of stake. More coins means more forging power.

1 billion coins ever, so owning 1 million gives you .1% of all transaction fees.


read the wiki

http://nxtcrypto.wikia.com/wiki/Nxt_Wiki

Ok im running it, but when i try to open it on the browser, ABE blocks it (im using Noscript)
I dont know how to add an exception

[brooklynbtc]

You would never "stumble" , transparent mining is designed so blocks are announced where they will be forged.

Your odds will increase from the last time you forged a block, with your number of coins held vs the number of coins currently logged in.

If you have 10 million, you WILL process 1% of all blocks. If you have 10 million coins and 50% of the other coins are off line, you will process 2% of all blocks. thats 144 and 288 blocks a day.

Look at my blockchain  http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15436509232181115695

I currently have a Mining Ratio [2]   :   0.0123 % » [20 NXT] so that means I should process 20 blocks a day, but my calculation of 1440 * .0123 = 17.712

But that percent is based on ALL COINS being logged in. As soon as people log out, the probability increases.

NOW, as to Nxt hitting $1? that is speculation. Nxt is well designed, quickly growing, and only going upward. Of course there could be a better coin around the corner, or a fatal flaw, or the Government cracks down on all cyber coins, who knows, but I bought in at about $.0025 and now its over $0.01 so $1 is just another number.

Long on Nxt. To the future moon!

[giveBTCpls]

You would never "stumble" , transparent mining is designed so blocks are announced where they will be forged.

Your odds will increase from the last time you forged a block, with your number of coins held vs the number of coins currently logged in.

If you have 10 million, you WILL process 1% of all blocks. If you have 10 million coins and 50% of the other coins are off line, you will process 2% of all blocks. thats 144 and 288 blocks a day.

Look at my blockchain  http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15436509232181115695

I currently have a Mining Ratio [2]   :   0.0123 % » [20 NXT] so that means I should process 20 blocks a day, but my calculation of 1440 * .0123 = 17.712

But that percent is based on ALL COINS being logged in. As soon as people log out, the probability increases.

NOW, as to Nxt hitting $1? that is speculation. Nxt is well designed, quickly growing, and only going upward. Of course there could be a better coin around the corner, or a fatal flaw, or the Government cracks down on all cyber coins, who knows, but I bought in at about $.0025 and now its over $0.01 so $1 is just another number.

Long on Nxt. To the future moon!

Ok so I was watching this video:
https://www.youtube.com/watch?v=w1FTzBjy_8Q

What I dont get:

1) You still need exchanges, bitcoin and fiat to exsist because you are basically told you need to buy them just like every other coin, so whats the point? You still need the same things. With other coins, you dont need to because you can mine them, to "mine" nxt you need to own some nxt first, which means you need an exchange, btc and fiat.

2) The more coins you have, the more coins you will win if you hold them. Is this correct? Isn't this against making the coin more well distributed?

[PGPpfKkx]

can u send a request and then another one while waiting for the first outcome?
or doesn't it play a role , just send 5 requests when 22000 block hits and wait for what will happen

[mcjavar]

Please don´t forget to comment here to show Cryptsy that we would like to have Nxt on the site:

https://cryptsy.freshdesk.com/support/discussions/topics/44434

And please also "LIKE" the idea on the top of the thread!

[PGPpfKkx]

Do we have to use https://localhost:7875/alias.html?  Can we use the "assignAlias" API instead?

Yes, we can.

what is this api and where can i find specification?

also are spaces allowed in aliases?

[brooklynbtc]

We still need exchanges yes, because at this point we are still getting money in to Nxt

Nxt also uses Colored Coins, which is a way of saying you can use Nxt to trade Bitcoins, Litecoins, USD, etc

A colored Nxt can represent a different value as the user sees fit. The network is announced, and the value put in. I imagine there will be a whole exchange for colored coins where you could simply state what you wish to value it as, ie 1Btc, and deposit that amount, then whoever you sent that specific coin to would be able to redeem it for that original value

Mining is a power wasting arms race in Bitcoins, as soon as new miners are released they are obsolete. Nxt is the opposite. Wealth has no value if you don't spend it. If EVERYONE held all their Nxt no one would transfer and no one would make fees.

From as I understand it, using colored coins allows the value of the 1Billion cap to be breached. You can convert btc into a colored coin and then transfer it, paying a forging fee worthy of the transaction, so you only need 1nxt to transfer a lot of different amounts, plus you pay forging fees, and the holders earn interest for their supporting the network

as someone else wrote, it costs money to mine Btc, ASICS, power, and this will keep going up,making it a doomed venture, as well as less secure when someone with bad intents takes over 51% of the mining.

Nxt takes Nxt to forge. Which is still cheap. and will not be diluted or caught in an arms race. and will not get less secure.

That 5btc purchase will get you around 400k Nxt now. Thats .04% of all hashing power FOREVER, which will give you 40 blocks a day, which when this thing is really churning could earn 100's of Nxt a day.

For 5btc. Wow.

[allwelder]

In the 0.4.0 version,there is not reminder that when I will generate a block on the top of browser near the recent block.
But it has in before version.
Is this right?

[klee]

We still need exchanges yes, because at this point we are still getting money in to Nxt

Nxt also uses Colored Coins, which is a way of saying you can use Nxt to trade Bitcoins, Litecoins, USD, etc

A colored Nxt can represent a different value as the user sees fit. The network is announced, and the value put in. I imagine there will be a whole exchange for colored coins where you could simply state what you wish to value it as, ie 1Btc, and deposit that amount, then whoever you sent that specific coin to would be able to redeem it for that original value

Mining is a power wasting arms race in Bitcoins, as soon as new miners are released they are obsolete. Nxt is the opposite. Wealth has no value if you don't spend it. If EVERYONE held all their Nxt no one would transfer and no one would make fees.

From as I understand it, using colored coins allows the value of the 1Billion cap to be breached. You can convert btc into a colored coin and then transfer it, paying a forging fee worthy of the transaction, so you only need 1nxt to transfer a lot of different amounts, plus you pay forging fees, and the holders earn interest for their supporting the network

as someone else wrote, it costs money to mine Btc, ASICS, power, and this will keep going up,making it a doomed venture, as well as less secure when someone with bad intents takes over 51% of the mining.

Nxt takes Nxt to forge. Which is still cheap. and will not be diluted or caught in an arms race. and will not get less secure.

That 5btc purchase will get you around 400k Nxt now. Thats .04% of all hashing power FOREVER, which will give you 40 blocks a day, which when this thing is really churning could earn 100's of Nxt a day.

For 5btc. Wow.

MUCH WOW

[mcjavar]

We still need exchanges yes, because at this point we are still getting money in to Nxt

Nxt also uses Colored Coins, which is a way of saying you can use Nxt to trade Bitcoins, Litecoins, USD, etc

A colored Nxt can represent a different value as the user sees fit. The network is announced, and the value put in. I imagine there will be a whole exchange for colored coins where you could simply state what you wish to value it as, ie 1Btc, and deposit that amount, then whoever you sent that specific coin to would be able to redeem it for that original value

Mining is a power wasting arms race in Bitcoins, as soon as new miners are released they are obsolete. Nxt is the opposite. Wealth has no value if you don't spend it. If EVERYONE held all their Nxt no one would transfer and no one would make fees.

From as I understand it, using colored coins allows the value of the 1Billion cap to be breached. You can convert btc into a colored coin and then transfer it, paying a forging fee worthy of the transaction, so you only need 1nxt to transfer a lot of different amounts, plus you pay forging fees, and the holders earn interest for their supporting the network

as someone else wrote, it costs money to mine Btc, ASICS, power, and this will keep going up,making it a doomed venture, as well as less secure when someone with bad intents takes over 51% of the mining.

Nxt takes Nxt to forge. Which is still cheap. and will not be diluted or caught in an arms race. and will not get less secure.

That 5btc purchase will get you around 400k Nxt now. Thats .04% of all hashing power FOREVER, which will give you 40 blocks a day, which when this thing is really churning could earn 100's of Nxt a day.

For 5btc. Wow.

MUCH WOW

so money

[JohnyCrypt]

10NXT giveaway going on now. 4 slots left!
https://nextcoin.org/index.php/topic,899.0.html

[idev]

In the 0.4.0 version,there is not reminder that when I will generate a block on the top of browser near the recent block.
But it has in before version.
Is this right?

It's still there.

[allwelder]

In the 0.4.0 version,there is not reminder that when I will generate a block on the top of browser near the recent block.
But it has in before version.
Is this right?

It's still there.

@idev
Why i can not see where it is?
What is the problem?

[mcjavar]

Something is wrong. No new block is getting generated (at least not in my UI), and there are a lots of unconfirmed transactions..

[idev]

In the 0.4.0 version,there is not reminder that when I will generate a block on the top of browser near the recent block.
But it has in before version.
Is this right?

It's still there.

@idev
Why i can not see where it is?
What is the problem?

It's still in the "blocks" section just below where it says "Recent blocks [339]"
You sure your client is running?

[allwelder]

In the 0.4.0 version,there is not reminder that when I will generate a block on the top of browser near the recent block.
But it has in before version.
Is this right?

It's still there.

@idev
Why i can not see where it is?
What is the problem?

It's still in the "blocks" section just below where it says "Recent blocks [339]"
You sure your client is running?

It should be running,the block height is 20909

Code:

		20909		482115092852324318		2013年12月21日 上午9:26:08	
15		2'150'432 + 59		1'920 B	
1		5073933932651122560		167 %

[Anon136]

BTCNext activity show that his last post was november 8th. Has anyone heard from him more recently? Is anyone concerned that this may effect the publishing of the code next month? We don't need him specifically, but we very very much need that code to be published next month.

[giveBTCpls]

We still need exchanges yes, because at this point we are still getting money in to Nxt

Nxt also uses Colored Coins, which is a way of saying you can use Nxt to trade Bitcoins, Litecoins, USD, etc

A colored Nxt can represent a different value as the user sees fit. The network is announced, and the value put in. I imagine there will be a whole exchange for colored coins where you could simply state what you wish to value it as, ie 1Btc, and deposit that amount, then whoever you sent that specific coin to would be able to redeem it for that original value

Mining is a power wasting arms race in Bitcoins, as soon as new miners are released they are obsolete. Nxt is the opposite. Wealth has no value if you don't spend it. If EVERYONE held all their Nxt no one would transfer and no one would make fees.

But what happens if someone just want to hold it for a year and see how much they are worth it by then?

From as I understand it, using colored coins allows the value of the 1Billion cap to be breached. You can convert btc into a colored coin and then transfer it, paying a forging fee worthy of the transaction, so you only need 1nxt to transfer a lot of different amounts, plus you pay forging fees, and the holders earn interest for their supporting the network

as someone else wrote, it costs money to mine Btc, ASICS, power, and this will keep going up,making it a doomed venture, as well as less secure when someone with bad intents takes over 51% of the mining.

Nxt takes Nxt to forge. Which is still cheap. and will not be diluted or caught in an arms race. and will not get less secure.

That 5btc purchase will get you around 400k Nxt now. Thats .04% of all hashing power FOREVER, which will give you 40 blocks a day, which when this thing is really churning could earn 100's of Nxt a day.

For 5btc. Wow.

I dont really get this. What happens if someone super rich spends 900000 BTC on NXT? He would having almost all hashing power himself. Then he decides to hold it and get even more gains?

This is such a headfuck, I dont thing I get it enough to invest on it yet.

[joefox]

http://www.nxtcurrency.com/   ----- a self hosted wiki site like wikipeadia, feel free to register and add all content for nxt

Thanks for this -- but you should know we already have a strong wiki at http://nxtcrypto.wikia.com/.  And if you copy all my content without crediting anyone or paying Nxt for it, I WILL HUNT YOU DOWN.