NXT :: descendant of Bitcoin - Updated Information

[klee]

It depends on your NXT holdings. The more you have the more you earn. It's making rich richer. No joke.

That's the exactly the same for any investment that pays interest. The more you have invested, the more you receive.

Yes, but that's exactly what makes the current system flawed. Isn't it? Richer get richer, poorer get poorer.

No, this is incorrect.

The rich get richer easier than the poor. The "poor" still earn NXT. It's just less noticeable.

Basically like in the real world. Not just, not fun, but basically a fact of life.

If you come into cryptocoins to get rich without investing (be it money, time, efforts or ideas) you will not succeed.

In the long run it will create NXT oligarchs and the rest - the paupers.

I'm not using Windows but I suppose that you need to put it in the command line window (Start/Run/cmd). The -Xms and -Xmx aren't necessary but should help with memory allocation.

I have changed the start.bat to "java -Xms512m -Xmx1024m -jar start.jar". Now when I open 7875, and unlock, a new address appears, with balance 0Nxt, and the last block is 23923.

Have you done that in new folder and with 0.4.4 version?

Yes, it's 0.4.4 version.

In new folder?

Yes, I deleted the previous Nxt folder and unzipped a new one.

Then I don't know. 

Like always does - until there can be only one (Singularity).

Only chance is if the Singularity is 666 and Jesus come-from-beyond to kick his ass!!

Merry Christmas!! lol

[Damelon]

In the long run it will create NXT oligarchs and the rest - the paupers.

That's entirely possible, yes.
I'm not one of the "haves", either, but I felt it needed pointing out  
So many people come into this trying to get something for nothing. Just not going to happen.
If it does happen (writer Dan Brown comes to mind  ) it's a one-off and not to be taken as a good example of how things work.

[Come-from-Beyond]

Name one system where rich don't get richer.

Freicoin.

Qubic. But this is another story.

[Timetwister]

I'm not using Windows but I suppose that you need to put it in the command line window (Start/Run/cmd). The -Xms and -Xmx aren't necessary but should help with memory allocation.

I have changed the start.bat to "java -Xms512m -Xmx1024m -jar start.jar". Now when I open 7875, and unlock, a new address appears, with balance 0Nxt, and the last block is 23923.

Have you done that in new folder and with 0.4.4 version?

Yes, it's 0.4.4 version.

In new folder?

Yes, I deleted the previous Nxt folder and unzipped a new one.

Then I don't know.  

I have deleted and unzipped again, and it seems to be finally downloading blocks I hope it gets to the most recent one any my balance appears. Is it normal that I have a different address everytime I unlock?

[gbeirn]

Version 0.4.4 - https://dl.dropboxusercontent.com/u/67242472/nxt.zip

Added Jetty DoSFilter (thx to Edward Elric)
Added myScheme, myPort and shareMyAddress parameters (set them to appropriate values, they will be used in next version)
Added enableHallmarkProtection, set it to "false" if u wish to switch the protection off
blacklistingPeriod is set in milliseconds instead of seconds
logPeerCommunication replaced with communicationLoggingMask (1 - log exceptions, 2 - log responses with non-200 HTTP response codes, 4 - log responses with 200 HTTP response codes), mask values can be combined in standard way
Block feeding chunks increased from 128 KiB to 1 MiB.

NB: Change maxRequestsPerSec value from 3000 to ~30 if u run NRS as a Nxt peer.

Could someone please break some of this down for the less technical. I've read about hallmarks in the wiki, is it recommended that someone who has their wallet open a few hours a day runs a hallmarked node?

If not how does hallmark protection effect those not running a hallmarked node?

myScheme, myPort and shareMyAddress What values should they be set to?

Cheers.

Hallmark nodes are looked to by un-hallmarked nodes for blockchain info. When we were being DDoS attacked, the HallMarked ones were the best targets since taking them offline would effect other non-hall marked nodes. Ideally to prevent that, I think all nodes should be hallmarked.

There is no real benefit with having your wallet open or not. It helps the network, sure, but not your particular account. You need a static IP address to run a hallmarked node, or at least one that doesn't change too often.

[laowai80]

Been getting this on one host trying to hallmark it, any idea?

{ "errorCode": 7, "errorDescription": "Not allowed" }

[klee]

Name one system where rich don't get richer.

Freicoin.

Qubic. But this is another story.

If you add anonymous minting and anonymous transactions COMPULSORY FOR EVERYONE + distributed Qubic/FIAT exchange then I am a believer!!

I wish NXT had these features...

[davidoski]

I'm not using Windows but I suppose that you need to put it in the command line window (Start/Run/cmd). The -Xms and -Xmx aren't necessary but should help with memory allocation.

I have changed the start.bat to "java -Xms512m -Xmx1024m -jar start.jar". Now when I open 7875, and unlock, a new address appears, with balance 0Nxt, and the last block is 23923.

Have you done that in new folder and with 0.4.4 version?

Yes, it's 0.4.4 version.

In new folder?

Yes, I deleted the previous Nxt folder and unzipped a new one.

Then I don't know.  

I have deleted and unzipped again, and it seems to be finally downloading blocks I hope it gets to the most recent one any my balance appears. Is it normal that I have a different address everytime I unlock?

If you put the same password you should see the same account address. Otherwise it wouldn't make any sense.

[Come-from-Beyond]

Could someone please break some of this down for the less technical. I've read about hallmarks in the wiki, is it recommended that someone who has their wallet open a few hours a day runs a hallmarked node?

Yes. This helps to protect network.

If not how does hallmark protection effect those not running a hallmarked node?

Hallmark makes it easier to identify who is good, who is bad and who is ugly.

myScheme, myPort and shareMyAddress What values should they be set to?

I already set them for u.

[Timetwister]

So it's finally updated! Block 23951. But... my balance is 0, and the address that appears at the top left corner is different from the first one I had, and where I sent the Nxt I bought..........

[Come-from-Beyond]

Been getting this on one host trying to hallmark it, any idea?

{ "errorCode": 7, "errorDescription": "Not allowed" }

Set allowedBotHosts to "*" or to ur real IP (this better).

[laowai80]

Been getting this on one host trying to hallmark it, any idea?

{ "errorCode": 7, "errorDescription": "Not allowed" }

Set allowedBotHosts to "*" or to ur real IP (this better).

ok got it

[opticalcarrier]

hey all im back up, and updating my 5 VPSs to 44, I see that one of my VPSs was added to wellknownhosts, and that particular VPS will not sync up, so thanks to (sorry i forgot who did it) giving me more NXT I will upgrade it to an 8GB-RAM / 4TB-DATA VPS, should work good then.  May also upgrade the others from 2GB to 4GB and will also prob add a few more 4GB-RM VPSs.

looks like the network is finally a bit more stable.  nice work all, really good to see all these VPSs coming online, I believe once the userbase does swell like we want it to, wouldnt we able to start taking some VPSs down?

[axxian]

Just got a couple of questions/thoughts here, feel free to reply and give your thoughts:

1. So i was wondering if the 1 Nxt transaction fee will be lowered if the coins did get picked up? Since forging will produce lower Nxt but the values will be higher.

2. Forging process is like earning interest from the bank? Yet at the same time Nxt will not inflate assuming the cap is always 1 billion coins.

3. Wouldn't it be more sensible for the big bitcoin holders to store their money here to gain interest (forging)? But than Nxt can become like a bank will people will just bank up to make interest and not spend. Therefore reducing the amount of coins in circulation.

4. I think the new QT with bitcoin trading in the Nxt client would be awesome. Nxt could act as a bank where as bitcoin the cash we carry around (hence we don't carry a tons of cash around, as most of our money is in the bank). Since bitcoin network is vulnerable to 51% attacks. So a future usage of both these cryptos can act as a bank and spending money?

[davidoski]

In the long run it will create NXT oligarchs and the rest - the paupers.

You are assuming that the SAME large holders of NXT will indefinitely hold all of their initial NXT plus any they accumulate.

Not all but most or as much to remain the biggest holders.

Who do you think we are getting all our NXT from at these ridiculous prices?

Crumbs from the oligarchs' feast.  

Have you considered how the progression of the model will effect YOUR holding in terms of valuation?

Yes, I considerd - in comparison to oligarchs holdings. And it doesn't look good.

Or what about how far YOUR NXT takes you within the interface if you were to use the featured offered?

That has nothing to do with the inequality issue.

The devs are even trying their best to find the optimal ratio for decimal points, so that you don't get killed by fees.

That makes only the inequality rate faster or slower.

Try getting all that for a dollar!!!  

I never said that the dollar is better.

[Come-from-Beyond]

4. I think the new QT with bitcoin trading in the Nxt client would be awesome. Nxt could act as a bank where as bitcoin the cash we carry around (hence we don't carry a tons of cash around, as most of our money is in the bank). Since bitcoin network is vulnerable to 51% attacks. So a future usage of both these cryptos can act as a bank and spending money?

Sorry, but there can be only one. Bitcoin or Nxt, not both.

[Pablito89]

@CFB

attackers have stopped or we just fuck them with new Ddos protection?

[Timetwister]

So yesterday I created an address by choosing a pass-phrase, but now, when I get to localhost:7874 and put that pass-phrase, a different address appears. How can I access my original address?

[gbeirn]

So yesterday I created an address by choosing a pass-phrase, but now, when I get to localhost:7874 and put that pass-phrase, a different address appears. How can I access my original address?

You are entering a different passphrase, the account cannot change addresses. Maybe caps lock or something like that was on?

Something was mis-typed somewhere.

Maybe we should consider having the pass phrase entered twice to avoid miss-spellings and typing?

[Pablito89]

So yesterday I created an address by choosing a pass-phrase, but now, when I get to localhost:7874 and put that pass-phrase, a different address appears. How can I access my original address?

really weird, are u sure u didn't put another one?