NXT :: descendant of Bitcoin - Updated Information

[rickyjames]

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

I repeat my contention: I believe it will be low cost of many, many Raspberry Pis and not the high motivation of many, many forgers that will ultimately make the NXT network a viable one.

[laowai80]

Does anyone have new version? My keeps saying java.lang.NullPointerException

replace blocks.nxt and transactions.nxt files with their .bak earlier copies and restart NXT, see if that helps.

[Damelon]

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

Your math assumes that all 1000000000 NXT will constantly be in nodes.
Once the coin moves not everyone will have their computer on 24/7.
Hence, the percentage of 0,0001 isn´t the correct percentage for your chance at forging a block.

[allwelder]

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

Thanks for your efficient and hard work,dgex is ok now.

[opticalcarrier]

Network seems to be holding up fine since last release.  Good job devs.

I think we need to take it to the next level with a professional website and high-quality informational video.

Anyone got a bounty for this?  I know a professional graphics designer.  He can blow everything you've got out of the water, but he ain't cheep.  He can easily do stuff on the quality level of the official bitcoin videos.

PM me if you want to arrange this.

if anyone does want to arrange this, please let me know.  I and a few other stakeholders are forming the "NXT Foundation" using the domain nxtcrypto.org and we do have a basic WWW page set up now that is intended to be the public face of NXT.  ut the webpage could use some polishing.   I wish I could point you to the section on nextcoin discussing this but its down right now. 

[killver]

I just did a fresh install of my pack, using my instructions, and it worked. The included blockchain is healthy.

So I assume you messed up your chain files somehow. A dirty shutdown of the server can be enough for this to happen. Do it only by SIGINT/Ctrl+C and wait until it is shut down.

As a solution for now, just do "rm blocks* transactions*" and get fresh files.

Thanks, I killed java once, that seems to be the reason. Just did a fresh unpacking etc. and the problem seems to be solved.

[utopianfuture]

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

How much NXT you earn from forging depends on transaction volume. NXT users is still a small pool of individuals and transaction volume is low. Transaction volume will increase exponentially as we have seen with Bitcoin which will increase forging profits dramatically.

I guess this situation is like when Bitcoin first launched many years ago... what motivation was there to mine?

Transaction volume or exponential increases in it don't alter the bottom line at all.  They only define the timeline you see in getting there.

A 1000 NXT forging stake will earn you 0.0001% of all transaction fees, which is identical to saying you get 1 transaction fee NXT for every 1,000,000 generated by the system.  You will double your 1000 NXT stake after 1,000,000,000 NXT have been generated in transaction fees.  How long it takes to generate a billion NXT in transaction fees depends on the average size of all NXT transactions.   For every thousand NXT in the average transaction size, a trillion NXTs must change hands for you to double your 1000 NXT forging stake.

Math is math and facts is facts. What's your numbers, or what's wrong with mine?

I repeat my contention: I believe it will be low cost of many, many Raspberry Pis and not the high motivation of many, many forgers that will ultimately make the NXT network a viable one.

I agree the will and desire to make the Nxt network stands and prospers is the strongest motivator. In the near future the transaction will be dropped to 0.01 Nxt. Forging to make money does not make much financial sense.

[punkrock]

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

How about adding reCaptcha and E-Mail-confirmation to get rid of these fake registrations?
And maybe you want to check this out: https://projectshield.withgoogle.com/

[opticalcarrier]

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.

[EmoneyRu]

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.

Confirm

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

Amazon micro: works fine. Mainly paying for more I/Os (2 million ended in 5 days)
Directspace DSVPS.1 : works fine.

[Pablito89]

WellKnowPeers easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.25; 88.198.142.92; 66.197.138.90; 64.120.180.106; 109.230.224.65;

Vps owners: Keep this easyCopyString updated with your vps!! Copy and post your new version

[bitcoinrocks]

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

budgetvm seems very good.  they offer inexpensive XEN linux VPSs.  XEN are the best VPS type, no resource sharing at all.

I'm also very interested in this.

[davethetrousers]

XEN are the best VPS type, no resource sharing at all.

Imho, KVM is another small step up from Xen. All the performance plus some more flexibility.

But I agree, statically mapped hypervisors are better on average, performance-wise.

[utopianfuture]

Somebody is really pissed off by NXT now - both my sites bombarded constantly and admin email receiving hundreds of registration confirmations from various forums mostly in Russia.

They are attempting to deny the service from you - their success will be temporary.

Graviton, would you consider listing Dgex in Nxt asset exchange ? Basic protocal is here

We will need a protocol that any company has to follow to make an IPO on Nxt network and listed as an asset in the asset exchange.
The minimum you will have to do is:

1. state why your company has value; your company mode of operation; total shares you re going to issue
2. your responsibility to the company and the share you are going to issue.
3. basically, it is your responsibility to persuade Nxt holder to trust you and your company

This will be included in the social contract on your IPO open for the public in a secure forum.

There is a fee for IPO and asset listing. I think it is 1000 Nxt. So if you can't persuade people to buy your share, you will lose that 1000 Nxt. If you finish your IPO successfully, your share will be listed in the asset exchange. Form that point on, the price discovery process will determine the true-worth of your company/ idea.  Of course if you run away with your money, your share will hit zero and being delisted.

That is skeleton of how I think the asset exchange will work.

More protocol could be added with feedback from community.

[davethetrousers]

WellKnowPeers easyCopyString:
95.85.46.233; 162.243.140.133; 146.185.129.54; 162.243.117.63; 192.241.155.44; 162.243.214.68; 95.85.46.164; 162.243.216.55; 162.243.143.15; 95.85.46.249; 93.190.92.74; 37.209.120.192; 93.190.92.75; 85.25.134.59; 93.190.92.76; vps1.nxtcrypto.org;  vps2.nxtcrypto.org;  vps3.nxtcrypto.org;  vps4.nxtcrypto.org;  vps5.nxtcrypto.org; nxtwallet.com; 31.220.50.208; nxt.ddos.me; 203.174.12.25; 88.198.142.92; 66.197.138.90; 64.120.180.106; 109.230.224.65;

Vps owners: Keep this easyCopyString updated with your vps!! Copy and post your new version

@all: You can also PM me your node IPs, so I can put them in the nodes file for use with the automated update script.

[rickyjames]

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

This brings up something I think is very important.  We need to establish a dashboard someplace off this thread where we can see facts and statistics that are accumulating or changing.   How many nodes are there?  How many sites?   What is the current DDos level?   Etc etc etc...

Inquiring minds want to know.  This is an interesting cyberwar to be following, we need a newsroom instead of just an endless blizzard of trench warfare reporter dispatches.

[bitcoinrocks]

This brings up something I think is very important.  We need to establish a dashboard someplace off this thread where we can see fact and statistics that are accumulating or changing.   How many nodes are there?  How many sites?   What is the current DDos level?   Etc etc etc...

Inquiring minds want to know.  This is an interesting cyberwar to be following, we need a newsroom instead of just an endless blizzard of reporter dispatches.

Great idea.  And links to various important Nxt sites/pages and to the latest version of the software.

[brooklynbtc]

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

This brings up something I think is very important.  We need to establish a dashboard someplace off this thread where we can see facts and statistics that are accumulating or changing.   How many nodes are there?  How many sites?   What is the current DDos level?   Etc etc etc...

Inquiring minds want to know.  This is an interesting cyberwar to be following, we need a newsroom instead of just an endless blizzard of trench warfare reporter dispatches.

get on it rickyjames.. I for one am busy setting up VPS, looking after my daughter and watching Arsenal hammer the Hammers oh and trying to build this litecoin mining rig, ha forgot about that

[utopianfuture]

ok this thread is so clogged, lets leave the dream girls out.

I'm going to ask again if people running VPS could start sharing their experiences with different hosts they use, so we can find more and more.

This brings up something I think is very important.  We need to establish a dashboard someplace off this thread where we can see facts and statistics that are accumulating or changing.   How many nodes are there?  How many sites?   What is the current DDos level?   Etc etc etc...

Inquiring minds want to know.  This is an interesting cyberwar to be following, we need a newsroom instead of just an endless blizzard of trench warfare reporter dispatches.

Agree. There should be a secure place where people maintaining Nxt infrastructure discuss. A subforum in nextcoin could be an idea if only the forum not being death more often than alive.

[Someonelse]

Like my guide?

Donations welcome

2754663858278576803

Thanks a lot for your guide! Sent you some donations, though, perhaps, small :-)  

Being completely new to the world of cryptocurrencies, I tried to setup my VPS using your instruction (thanks a lot for that again!). Few minor troubles I got:
- in the beginning, my server was replying with the black screen, which said something like "Matrix has you..."  It toook for me a while to understand, that I suppose to add my IP number to the parameters of the allowed hosts, shown in web.xml.
- in ordeder to made that working, I had to pkill Java and launch it again, so it uses the updated schema.  It might be obvious for majority of the ppl here, but for me it took some time to understand :-))))

If you add those recommendations to your guid, it would be even better, I think...


I set up a VPS for NXT node at : 162.243.223.161 .   Hope it will be useful for the whole community.


Kind regards