NXT :: descendant of Bitcoin - Updated Information

[Damelon]

in TF, everyone knows who will generate next block.  whats to keep an attacker (who can also easily find out who should generate the next block) from DDOSing the hell out of that next generator?

Nothing. As I said u should forge behind Tor if u can't handle so much traffic. In the future we'll have companies that will work as a shield between small forgers and big transactions / DDoSers. U'll be just signing blocks and pay some % of the fees to such shielding companies. I won't be surprised if CloudFlare will be one of the pioneers in such business.

Can this be put in the wiki for casual users? Seems like important information for the average person who thinks he can casually forge without being subjected to an attack.

[gbeirn]

in TF, everyone knows who will generate next block.  whats to keep an attacker (who can also easily find out who should generate the next block) from DDOSing the hell out of that next generator?

Nothing. As I said u should forge behind Tor if u can't handle so much traffic. In the future we'll have companies that will work as a shield between small forgers and big transactions / DDoSers. U'll be just signing blocks and pay some % of the fees to such shielding companies. I won't be surprised if CloudFlare will be one of the pioneers in such business.

Can this be put in the wiki for casual users? Seems like important information for the average person who thinks he can casually forge without being subjected to an attack.

Sure, put it in the wiki. Great things about wikis is anyone can edit them

[chanc3r]

If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?

Jean-Luc, this is addressed to u.

IMO $0.1 is way too much, it should be no more than $0.01

I think it'd be dangerous for the network then, no incentive to forge.

Yes you have, keeping the network alive is enough incentive to forge. Otherwise your NxT holdings will become worthless.

Charging $0.1 fee for every transaction makes NxT useless for micropayments.
Now they can be higher to avoid attacks, but it should be smaller in the future (nearly 0).

I completely agree about low transaction cost but also want to note that NXT does not need to be used for micropayments. The load could be too much for the system to handle. It would be better to target Nxt to high value transaction. All the talk about Bitcoin for uses in micro-transaction has not yet materialize. just fancy talk so far.

What's a micropayment? To me, a cup of coffee is a micropayment.

Edit: I feel like we are putting the cart way before the horse so to speak.

There are systems in the world today in Africa processing micro payments as low as 12cents via mobile , when people earn $4 per day - micropayment takes on a whole new meaning.

According to the latest GSMA reports in a number of countries micro payments via mobile are taking off - using e-currency which is a 1:1 for hard currency - this could replace that but not at the current transaction charge. Some transactions are even free because they carry the volume and are drivers for the higher value transactions.

NXT is a way off from penetrating that market but NXT might need a tiered transaction charge in the future as a micropayment in different markets means something completely different.

[Damelon]

in TF, everyone knows who will generate next block.  whats to keep an attacker (who can also easily find out who should generate the next block) from DDOSing the hell out of that next generator?

Nothing. As I said u should forge behind Tor if u can't handle so much traffic. In the future we'll have companies that will work as a shield between small forgers and big transactions / DDoSers. U'll be just signing blocks and pay some % of the fees to such shielding companies. I won't be surprised if CloudFlare will be one of the pioneers in such business.

Can this be put in the wiki for casual users? Seems like important information for the average person who thinks he can casually forge without being subjected to an attack.

Sure, put it in the wiki. Great things about wikis is anyone can edit them

I was expecting a reaction like that.  
The problem is that when it comes to this, I may as well bé a casual user. I tried running the client behind Tor already, but couldn't get it to work.
If someone could explain it, I would be perfectly willing to put it in the wiki, as I am an editor/translator already anyway

[Come-from-Beyond]

NXT is a way off from penetrating that market but NXT might need a tiered transaction charge in the future as a micropayment in different markets means something completely different.

Someone could issue tokens backed by NXTs and use centralized approach to process such transactions. This is much cheaper.

[artila]

New Exchange looks good

made a deposit and sold some nxt:

http://i39.tinypic.com/34xknyo.jpg

[Come-from-Beyond]

New Exchange looks good

made a deposit and sold some nxt:

http://i39.tinypic.com/34xknyo.jpg

Is it possible to change password from "TABLE" to something more secure? I didn't find how to do that.

[chanc3r]

NXT is a way off from penetrating that market but NXT might need a tiered transaction charge in the future as a micropayment in different markets means something completely different.

Someone could issue tokens backed by NXTs and use centralized approach to process such transactions. This is much cheaper.

that's kind of the way it works today the mobile companies issue tokens backed by local currency and process it all centrally and take a small or no fee - so maybe NXT doesn't figure unless it replaces the local national currency one day.

[josephliton]

Happy new year to all of you.  

[landomata]

landomata,

wesleyh's share would be (daily forged amount of total community NXT fund) * (percentage of overall revenue alias fees are) since the day he released the plugins.

Currently that is ~1% of ____ per day

When we get DNS functionality he will share it with the ones who implement DNS. Probably costs for real work DNS hosting would come off the top of Aliascompany NXT

This way we can quantify each person's contribution to the community, instead of guessing what each feature is worth. Of course, nothing stops people from sending their NXT to people who are already getting community funds.

James

The above formula is awesome/practical....but many will question if Wesleyh is entitled to the specific amount generated by the formula because he did not develop the underlying infrastructure but build on top of what was already there.


Where it could not be questioned is when a person or entity developed a feature that was integrated network wide....such as if X developed Arbitrary Messaging and this feature generated a totally new fee stream...Your formula could then apply to the particular fees generated by this new feature.

Like Apps in the Apps store.....Nxt Infrastructure/feature builders would be paid based on the above formula because we cannot buy a feature/App this formula provides a monetization option for the Nxt infrastructure/feature developers.

[artila]

Is it possible to change password from "TABLE" to something more secure? I didn't find how to do that.

Does not look like it is possible. Which means its not very secure.

[landomata]

NXT is a way off from penetrating that market but NXT might need a tiered transaction charge in the future as a micropayment in different markets means something completely different.

Someone could issue tokens backed by NXTs and use centralized approach to process such transactions. This is much cheaper.

Would that not be similar to functions performed by Nxt Asset Exchange Gateways?

[Zahlen]

Hi everyone. I'm looking to trade 0.3 BTC for NXT. I'd like to avoid going through an exchange though; hearing problems with dgex, and I don't have enough confidence in the new one that just launched. Would anyone be interested in selling me any NXT directly? Please PM or post only offers that are close to dgex prices.

I'm new to cryptocurrency, only just got my first BTC from fiat a few hours ago, so I don't know what the customs are, or how best to go about the trade. Would appreciate any advice about all this I also don't really know anyone from this forum yet (so far I've only talked to Anon136 over PM), so I might not be willing to trade if you're also newish (don't have a sizeable post history).

(Don't know if this is the right place for this post, but I wasn't sure that the marketplace subforum has enough attention from folks with NXT.)

[Come-from-Beyond]

Would that not be similar to functions preformed by Nxt Asset Exchange Gateways?

Yes. This is supposed to be done via Asset Exchange.

[xibeijan]

New Exchange looks good

made a deposit and sold some nxt:

Where is this new exchange?

[gbeirn]

Is it possible to change password from "TABLE" to something more secure? I didn't find how to do that.

Does not look like it is possible. Which means its not very secure.

Owner posted on nxtcoin.org that he has not implemented password changing since people can change their password to something simply and get their account hacked.

[Damelon]

New Exchange looks good

made a deposit and sold some nxt:

Where is this new exchange?

https://nxtchg.com/

[gbeirn]

New Exchange looks good

made a deposit and sold some nxt:

Hey, that was me!

[Come-from-Beyond]

Owner posted on nxtcoin.org that he has not implemented password changing since people can change their password to something simply and get their account hacked.

Ah, that explains why I got "TABLE", this is much stronger... Dictionary attack will definitely fail, incrementing account id is extra protection I suppose...

[wakasaki808]

New Exchange looks good

made a deposit and sold some nxt:

Where is this new exchange?

https://nxtchg.com/

also original forum link is https://nextcoin.org/index.php/topic,1585.0.html