NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

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.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?

[Come-from-Beyond]

U could try.

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

They ok.

[abuelau]

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.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?

Probably not, because Ripple will be long dead by then (if it's not already).

[nexern]

just one and my last post about this stakeholder topic.
couple of days ago i was chatting with a major stakeholder about nxt
and he asked me what we need to go bigger, stuff like this, and at the end
i asked him what he intend todo to move nxt further, his answer was impressive.
nothing, because he can't code nor write articles etc. so he decided
just to wait. ok, not optimal but what really pisses me off, the first
time during my nxt-adventure-fun was his last statement, that he will
use all these tools for sure because someone built them anyway.
(of course he knew i am developing a new client for nxt but i asked
for nothing, just to make this clear)

therefore it's great to see that many of them now supporting nxt.

ok, x-mas time now...

[CIYAM]

So shouldn't the zombie nodes be able to be weeded out by PoS (i.e. each node you connect to sign something which proves how much NXT they control) or this what the Hallmark feature is going to achieve?

[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).

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.

- how can I configure my server in order to communicate only with Hallmarked nodes (> 100 000 weight) ?  

I do not want to see zombies in my Active peer list (no to say to communicate with them).

And I think that "They return ur version as their" its an Nxt servlet work, and you say, that attack is Jetty targeted, not Nxt servlet targeted. So how it happes that we see them, zombies, in Active peer, anyway ?

[laowai80]

just one and my last post about this stakeholder topic.
couple of days ago i was chatting with a major stakeholder about nxt
and he asked me what we need to go bigger, stuff like this, and at the end
i asked him what he intend todo to move nxt further, his answer was impressive.
nothing, because he can't code nor write articles etc. so he decided
just to wait. ok, not optimal but what really pisses me off, the first
time during my nxt-adventure-fun was his last statement, that he will
use all these tools for sure because someone built them anyway.
(of course he knew i am developing a new client for nxt but i asked
for nothing, just to make this clear)

therefore it's great to see that many of them now supporting nxt.

ok, x-mas time now...

well, he might end up losing all of his stake, if NXT dies, nobody would be able to send any coins if network is kaputt, game over. tell him to wait longer, he just might see that happen )

[bizz]

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.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.

[laowai80]

@CfB,

hallmarked nodes are being ddos'ed mercilessly and can't catch up with the rest, any way to improve this or just have to wait?

[abuelau]

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.

Nxt fast forwarded 100 years of Bitcoin history. Will u compare Bitcoin to Ripple in 100 years when all bitcoins mined?

Probably not, because Ripple will be long dead by then (if it's not already).

It would probably be wiser for you to spend time reading what NXT actually has to offer (is trying to offer ...whichever one you prefer...) before resting on a premature conclusion based on an irrelevant comparison to Ripple.

It's trying to offer exactly the same as Mastercoin and Colored Coins.

[Lubliana]

http://www.nxtcoinflip.com/images/logo.png

Hey guys,

Check out http://www.nxtcoinflip.com/

It's a new NXT gambling site, similar to other cryptocurrency games.

It's cheat-proof, the password used to generate the results is posted after a certain amount of 'turns'

[Come-from-Beyond]

So shouldn't the zombie nodes be able to be weeded out by PoS (i.e. each node you connect to sign something which proves how much NXT they control) or this what the Hallmark feature is going to achieve?

Yes, but this is not activated yet.

[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.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.

Which small group? There are dozens of ASIC manufacturers, and hundreds of ASIC owners and thousands of people involved via group buys. And the number of people having access to ASIC is still increasing.

[ferment]

I'm happy to do it for you since I have automation tools. Please send donations to the nxt in my sig and I'll add more nodes. For every 3000 nxt, I'll add a new public nodes that will run for 3 months. Currently, I've received only 4000 nxt and am running 10 public nodes (node1-node10.nxtbase.com).

Vanity nodes are 4500 nxt for 3 months. PM with your account, desired node name (whatever.nxtbase.com), and hallmark.

Donations are coming up. Thanks! I'll try to get 15 nodes up today.

[Come-from-Beyond]

how I can configure my server in order to communicate only with Hallmarked nodes (> 100 000 weight) ?  

I do not want to see zombies in my Active peer list (no to say to communicate with them).

And I think that "They return ur version as their" its an Nxt servlet work, and you say, that attack is Jetty targeted, not Nxt servlet targeted. So how it happes that we see them, zombies, in Active peer, anyway ?

U can't atm.

This is a wide attack that targets all parts. 0.4.3e disables Nxt servlet attack, but Jetty is still being stressed.

[starik69]

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.

So they made all process public and open and anybody could participate? lol. "Private company" does mean something. 

[abuelau]

It's trying to offer exactly the same as Mastercoin and Colored Coins.

So... after researching NXT that is the conclusion you've come to.  Fair enough... some of us see more.   

Oh prove me wrong please.

BTW, I am not trying to FUD but if you want to succeed and justify your market cap, you need to be able to answer these questions.

So you are saying that the list in the OP is not correct? What is missing?

Nxt will have the following features:
- Decentralized Asset Exchange / Colored Coins (Starting after block 30000)
     This allows gateways to issue other currencies (fiat or crypto) on the Nxt network.
- Decentralized Marketplace / Auction
- Decentralized Mixing Service
- Encrypted Messaging / Chat
- Decentralized DNS / Alias System (Starting at block 22000)
- Transparent Mining (Partially starting at block 25000)
- DDoS Protection - Project Kharon
- Voting

[mcjavar]

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.

I can tell you right now that small group of people owning ASIC farms today also own all those future 10mil bitcoins.

Totally agree on that

[Come-from-Beyond]

@CfB,

hallmarked nodes are being ddos'ed mercilessly and can't catch up with the rest, any way to improve this or just have to wait?

Let the network to resolve this issue. As long as most of stakeholders forge (no matter what branch) we r ok.

Btw, do u see this block:

22889      6635869272840226493      23.12.2013 15:06:35   
24      35'608 + 24      3'429 B   
1      3763753743353742877      963 %

[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).

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.

- congratulations.

I say about myself.  My 0.4.0 node right now see 335 Active peers, all of them 0.4.0, with exeption of 2*0.4.1e, 1*0.3.2, 3*0.4.2, 2*0.4.3. So 99.98% is on 0.4.0.  Its simply impossible. So somemthing is definitely wrong with Nxt soft.