NXT :: descendant of Bitcoin - Updated Information

[Jean-Luc]

I just feel that NXT absolutely has to run on 512 Mb with no issues, and openjdk-7-jre-headless seems a better choice vs openjdk-7-jre.

It is not there yet, but I agree, it takes more memory than it should now.

The memory leak that I fixed is not related to headless/headed differences, if any. I have only used the Oracle JVM, can't comment on openJDK.

There is still room for optimizing the memory usage, we create a lot of objects unnecessarily which even if not a leak puts an extra load on the garbage collector.

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[dzarmush]

That's great, you don't understand what the discussion is about, and yet assume I deleted it, and I'm trolling. thanks.

btw.  I'm the one that said I would be accused of deleting my post, which I did not. But good on you for picking up those reins.

Okay, maybe you didn't but who would delete your lousy post? It was just ordinary post like thousands of others.

[rickyjames]

Hey guys,

I see there is a lot of info here, but I can't find what I am searching...

I want a NXT mining calculator. There is such a tool?

https://nextcoin.org/index.php/topic,104.0.html

There is no mining in NXT.  If you have your wallet client open, you occasionally earn a minimal fee for processing a block ("forging") when it's your turn.  It isn't your turn very often.  The more NXT in your wallet, the more often it is your turn.  From a previous post of mine:

"Another way of saying this is that if you run a forging node (open wallet) with 1000 NXT with everyone else online, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node."

Actually it's a little more complicated than that, but trust me, you're not gonna get very far on NXT with a miner mindset.  NXT was designed as its key feature to totally eliminate mining.

[mcjavar]

Marketing...

There will be a Bitcoin Conference in February in Berlin.

http://www.mediabistro.com/insidebitcoins/

Since I am from Vienna, I would love to represent Nxt on this venue. I would fly over to Berlin and use the 2 days to spread the word, let others know about Nxt.
I believe in Nxt and am sure that we will benefit from it having someone around at a venue like this, that´s why I will fund the whole journey myself, but

donations to buy the tickets, pay for the hotel and flight is much appreciated!

11433600460445633305

[Come-from-Beyond]

Another way of saying this is that if you run a forging node (open wallet) with 1000 NXT with everyone else online, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

U don't take into account compound percentage.

[rickyjames]

Another way of saying this is that if you run a forging node (open wallet) with 1000 NXT with everyone else online, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

U don't take into account compound percentage.

Which is why my next sentence says "It's a little more complicated...".  I understand better (though probably still imperfectly) about the forging system.  To me the key point is there's a random aspect about it (you get all the transaction fees in a block you process and who knows what those fees will be) so you can never accurately predict what you will make via forging.  There is no formula.  

To summarize forging in a single sentence to an outsider, I think you have to make a Louis Armstrong statement ("If you have to ask what jazz is, you ain't never gonna know") - if you care about how much you're going to make via NXT forging, it won't be enough to motivate you.

[mvag]

Hey guys,

I see there is a lot of info here, but I can't find what I am searching...

I want a NXT mining calculator. There is such a tool?

If you have an account with some NXT on it, go to this URL, replacing the last chunk of it with your account number:
http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=XXXXXXXXXX

Have a look at "Mining Ratio" - it estimates how much NXT you would mine with your account by now if started at the very beginning.

[zhangdu]

Hey guys,

I see there is a lot of info here, but I can't find what I am searching...

I want a NXT mining calculator. There is such a tool?

https://nextcoin.org/index.php/topic,104.0.html

There is no mining in NXT.  If you have your wallet client open, you occasionally earn a minimal fee for processing a block ("forging") when it's your turn.  It isn't your turn very often.  The more NXT in your wallet, the more often it is your turn.  From a previous post of mine:

"Another way of saying this is that if you run a forging node (open wallet) with 1000 NXT with everyone else online, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node."

Actually it's a little more complicated than that, but trust me, you're not gonna get very far on NXT with a miner mindset.  NXT was designed as its key feature to totally eliminate mining.

this is the rule of NXT game, God knows, what will happen in tomorrow! rich will be more richer, poor will not be worse,but steady!!
NXT can go to the moon or even mars, or only plays inside cricle at home by stakeholer, never go outside the door. NXT game seems near to me but only seems, it's far for more than 90% account registed.   

[laowai80]

I personally plan to start some forging when we get more stability with the software, hopefully in the next month or two. At the moment NXT has to be restarted too often, account unlocked every time, etc. It's too much of a hassle now. When NXT can run for a few days without getting stuck, I'll start forging. Maybe even on that Raspberry or Android app when it allows that.

[zhangdu]

好像还没看到NXT的中文名字，我帮着取了两个，各位看看合适不。
1，朴实无华接地气：加瓦币
2，高端大气上档次：嘉威币

[pandaisftw]

I personally plan to start some forging when we get more stability with the software, hopefully in the next month or two. At the moment NXT has to be restarted too often, account unlocked every time, etc. It's too much of a hassle now. When NXT can run for a few days without getting stuck, I'll start forging. Maybe even on that Raspberry or Android app when it allows that.

I was thinking about purchasing a raspi just for forging, but I too will wait for the new version that is coming soon and see how the memory usage is then. But as of now, forging on my desktop (with tons of ram), I've had very few problems.

[bizz]

Someone is very rich & very interested in NXT:

Dgex' Account Went Down 20mil LOL
https://nextcoin.org/index.php/topic,1658.0.html

Rocket launch countdown?

[Come-from-Beyond]

Someone is very rich & very interested in NXT:

Dgex' Account Went Down 20mil LOL
https://nextcoin.org/index.php/topic,1658.0.html

Rocket launch countdown?

Winklevoss twins?

[laowai80]

Someone is very rich & very interested in NXT:

Dgex' Account Went Down 20mil LOL
https://nextcoin.org/index.php/topic,1658.0.html

Rocket launch countdown?

Winklevoss twins?

Suppose it's a very rich hacker and he sets up a hallmarked node against all that stash, all nodes would start downloading from that rich node exclusively? Do we get chain forks again in that case? Suppose he doesn't care about money and his purpose is to destroy NXT. What can we expect here?

[pinarello]

Someone is very rich & very interested in NXT:

Dgex' Account Went Down 20mil LOL
https://nextcoin.org/index.php/topic,1658.0.html

Rocket launch countdown?

12292439833850569026

75,009,336 NXT

Amounts Out   :   3,000,000

common now you cant be serious. If you are owner of this account please start sponsoring the project !

thank you
Pin

[Come-from-Beyond]

Suppose it's a very rich hacker and he sets up a hallmarked node against all that stash, all nodes would start downloading from that rich node exclusively? Do we get chain forks again in that case? Suppose he doesn't care about money and his purpose is to destroy NXT. What can we expect here?

Transparent Forging is not enabled yet, so we can be 51% attacked. But he must split the coins among a lot of accounts. Even with 10 accounts u can't generate very long branch, at some point u'll see "Generated incorrect block" message on all the accounts.

[laowai80]

Transparent Forging is not enabled yet, so we can be 51% attacked. But he must split the coins among a lot of accounts. Even with 10 accounts u can't generate very long branch, at some point u'll see "Generated incorrect block" message on all the accounts.

ok, that brings peace to my mind

[wesleyh]

OK, http://nxtra.org/faucet is working again, and should now automatically restart if the balance reports as negative ever again, meaning it shouldn't go down again. (Fingers crossed :-))

[pinarello]

12292439833850569026

75,009,336 NXT

Amounts Out   :   3,000,000

common now you cant be serious. If you are owner of this account please start sponsoring the project !

thank you
Pin

That and/or donate to the NXT address in my signature PLEASE!!!  

I woud'nt be surprised to find his address in one of the faucets to  

Pin

[rickyjames]

好像还没看到NXT的中文名字，我帮着取了两个，各位看看合适不。
1，朴实无华接地气：加瓦币
2，高端大气上档次：嘉威币

Perhaps we should get somebody that speaks Chinese to look at this, the Google translation shows a possible problem worth considering:

NXT seems to have not seen the Chinese name, I helped get two, you do not look appropriate.
1, unpretentious ground gas: Bhargava currency
2, high-grade atmosphere: Cartwright currency

Selecting a good Chinese name is historically difficult, with Coca-Cola being a legendary example I've heard about - "bite the wax tadpole":

http://en.wikipedia.org/wiki/Brand_blunder