NXT :: descendant of Bitcoin - Updated Information

[bizz]

So... I bought some NXT, I played with the server/client... all looks nice.

The only thing that bothers me is the fact that 20-something people hold 1 billion NXT.

Isn't this exactly like Ripple?!

Already 250mil (25% )changed hands. At some point it will always be small amounts of people owning lots of something. It's like that with everything in this world. And always will be. USD, gold, silver, bitcoin, nxt. Rich will always get richer. All you can do is join them.

[abuelau]

Isn't this exactly like Ripple?!

Do u know how Ripple works?

Well, for the end user it's pretty similar. I am sure there are hundreds technical things you could tell me about how NXT is different from Ripple, and they are probably very impressive.

But I own some Ripple and I own some NXT. Ripple has some promising use cases, so does NXT (NXT use cases, BTW are similar to BTC Colored Coins and Mastercoin such as distributed market place, voting, decentralized asset trading).

From wikipedia:

At its core, Ripple is based around a shared, public database. This database contains a ledger with account balances. Anyone can view the ledger and see a record of all activity on the Ripple network. In addition to information about balances, the ledger can also hold information about offers to buy or sell a currency or asset, creating the first distributed exchange.

People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

[Come-from-Beyond]

Sorry but how to do that if there is no incoming in the network? Customer would need to input txid or broadcastbytes (both cumbersome)

Also rebroadcasting seems to take several seconds for a single tx, cannot imagine having a list of 3 weeks' transactions rebroadcasted constantly...

Right, I should add this into NRS.

[Come-from-Beyond]

Bon Appétit   

I meant the attacker

[starik69]

A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

People in that group also bought their NXT, can you say this about ripple?

[abuelau]

A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

People in that group also bought their NXT, can you say this about ripple?

Oh, well people sent some BTC to get their initial NXT. But rest assured Ripple also had expenses, since it's a proper private company, there were costs involved with wages, renting space, etc... so yes, they've put money in as well.

[pinarello]

      
22866      4071545868996394636      23-12-2013 12:36:48   
10      2'900 + 10      1'402 B   
1      10464616015063249896      990 %

But I had to pay.... NXT

[Come-from-Beyond]

http://www.cryptocoincharts.info/v2/
Volume = 952 BTC. Is it total from the very beginning?

[abctc]

When I installed 0.4.2 I could see only 0.4.2 nodes. Why?  I think at that time there was a lot of 0.4.0 nodes (including my bootstrap VPS).

So it seems every version now mines own fork of blockchain. If so, in the first place we all need to install the same version (preferably 0.4.0).

[Come-from-Beyond]

When I installed 0.4.2 I could see only 0.4.2 nodes. Why?  I think at that time there was a lot of 0.4.0 nodes (including my bootstrap VPS).

So it seems every version now mines own fork of blockchain. If so, in the first place we all need to install the same version (preferably 0.4.0).

Zombie nodes r quite dumb. They return ur version as their. U can send them "I'm zombie" and then get "I'm zombie" in response.

[CIYAM]

When I installed 0.4.2 I could see only 0.4.2 nodes. Why?  I think at that time there was a lot of 0.4.0 nodes (including my bootstrap VPS).

My version reports itself as 0.4.2 and I can see 0.4.0 nodes along with 0.4.1e, 0.4.2 and 0.4.3e nodes.

[nexern]

http://www.cryptocoincharts.info/v2/
Volume = 952 BTC. Is it total from the very beginning?

no, +3000

http://87.230.14.1/nxt/nxt.cgi?action=2

[CIYAM]

Zombie nodes r quite dumb. They return ur version as their. U can send them "I'm zombie" and then get "I'm zombie" in response.

So maybe a good idea to actually *remove* nodes that are of the same version as your own manually?

[Come-from-Beyond]

Zombie nodes r quite dumb. They return ur version as their. U can send them "I'm zombie" and then get "I'm zombie" in response.

So maybe a good idea to actually *remove* nodes that are of the same version as your own manually?

No. Legit nodes run the same version as u.

[nexern]

0.4.0 is working smooth atm.

i just uploaded this version including all files. ~19mb.

http://87.230.14.1/download/nxt_0.4.0_complete.zip

you have to adjust web.xml

[CIYAM]

No. Legit nodes run the same version as u.

I mean temporarily (whilst we are under attack by zombies and the software doesn't help).

Just looking for a solution other than downloading blockchains (which is *wrong* in every way).

[Come-from-Beyond]

No. Legit nodes run the same version as u.

I mean temporarily (whilst we are under attack by zombies and the software doesn't help).

Just looking for a solution other than downloading blockchains (which is *wrong* in every way).

U could try.

[pinarello]

version 0.4.0
   
22877      6635869272840226493      23-12-2013 12:49:00   
5      15'457 + 5      640 B   
1      3293432955273510146      725 %

[abuelau]

People were extremely unhappy with the fact that the organization behind Ripple owned all coins and therefore they had an instant market cap of (all coins) x (price). And it's the same with NXT. A small group of people control all existing coins, all the coins that will ever exist. While everyone else has to buy NXT or beg for some NXTin some giveaway or bounty.

Not only that, but, the more coins you have, the more you make in forging... to the rich will get richer.

Try mining Bitcoins. Or gold. Then tell me how much you'd have to invest to mine anything. And unlike Bitcoin in nxt no one has tech advantage (bleeding edge hardware) to mine.

Alternative to 'rich get richer' is communism. And guess what? Rich get richer there too.

Okay, so in both BTC and NXT, the more money you have, the more money you make.

But in BTC, no one owns the remaining 10 million coins that haven't been mined yet, whereas in NXT, a small groups owns all the coins that will exist. This is why, NXT is closer to Ripple than it is to BTC.

[CIYAM]

U could try.

Am playing with this now - btw - are the "scum" nodes okay or zombies (they keep coming back after I trash them)?