NXT :: descendant of Bitcoin - Updated Information

[laowai80]

Bloody Hell...turn my back for a day and I've got a new client to install, DDoS attack and 30 pages of forum thread to plough thru....

Oh, well, welcome to NXT  

JUst got 4.8 up and running, can I have a block check ?

I'm on:

29207      4071545868996394636      dinsdag 31 december 2013 13:02:05   
      
      1      0 + 1      189 B   
      
      1      5248561830045485909      319 %

Thanks in advance, Happy NXT Year for 2014....onwards and upwards !

29462    12914264363408007311

[EvilDave]

Bloody Hell...turn my back for a day and I've got a new client to install, DDoS attack and 30 pages of forum thread to plough thru....

Oh, well, welcome to NXT  

JUst got 4.8 up and running, can I have a block check ?

I'm on:

29207      4071545868996394636      dinsdag 31 december 2013 13:02:05   
      
      1      0 + 1      189 B   
      
      1      5248561830045485909      319 %

Thanks in advance, Happy NXT Year for 2014....onwards and upwards !

Zoomed up to:

   29463      5430757907205901788      dinsdag 31 december 2013 21:38:50   
      
      1      0 + 1      156 B   
      
      1      10914441646135477285      304 %

[Damelon]

I still don't understand how to mine this coin. Got absolutely nothing. Any help anywhere in these 600 pages?

Forging is basically not something that is really important in NXT as a way to think about the coin.
It's more in the nature of a "perk" when the transactions are going well and you have a significant amount of NXT in your active account.
You basically get a chance to "forge" a block in the chain and get all transactionfees associated with that block.

However, the chances of forging (when the coin has decentralised a lot) will be very low for most people.

I think of it as a nice extra, nót as a way to earn easy money by just having it rest.

Hope that clears it up a bit.

If you think about it it's the opposite of that.  The more distributed the Nxt the more coins are not forging because either of the 1 day hold after transfers or people holding coins that aren't bothering with forging.  So the more distributed it is the less coins will be actively forging and the higher the odds of forging will be.

True, it all depends on how people will use the client. If loads of people will just close it, then chances for active nodes will go up.

[gbeirn]

Bloody Hell...turn my back for a day and I've got a new client to install, DDoS attack and 30 pages of forum thread to plough thru....

Oh, well, welcome to NXT  

JUst got 4.8 up and running, can I have a block check ?

I'm on:

29207      4071545868996394636      dinsdag 31 december 2013 13:02:05   
      
      1      0 + 1      189 B   
      
      1      5248561830045485909      319 %

Thanks in advance, Happy NXT Year for 2014....onwards and upwards !

Zoomed up to:

   29463      5430757907205901788      dinsdag 31 december 2013 21:38:50   
      
      1      0 + 1      156 B   
      
      1      10914441646135477285      304 %

That is correct

[EvilDave]

Thx for the block check, guys, I'm on the right line.

Hows the DDoS coming on, and do we need more nodes ?
Could maybe get another PC or 2 up and running if needed.

Otherwise I'll only be drinking champagne or something.....

[ZeroTheGreat]

I read that top accounts with 50M coins forge appx 35 000 coins

I suppose it's incorrect. I remember something like <10 NXT per block in fee's part. So can't be more 14400 NXTs per day to 1B NXT (50M'll have 1/20 of 14400- per day). When Blockchain Explorer'll come back I'll calculate ROI%, ROI $ to 1k/1M and may be dynamics.

[opticalcarrier]

why is it that quite frequently, many of m VPSs see many of my other VPSs are red flags?

[BitAddict]

I still don't understand how to mine this coin. Got absolutely nothing. Any help anywhere in these 600 pages?

Forging is basically not something that is really important in NXT as a way to think about the coin.
It's more in the nature of a "perk" when the transactions are going well and you have a significant amount of NXT in your active account.
You basically get a chance to "forge" a block in the chain and get all transactionfees associated with that block.

However, the chances of forging (when the coin has decentralised a lot) will be very low for most people.

I think of it as a nice extra, nót as a way to earn easy money by just having it rest.

Hope that clears it up a bit.

But why not? I read that top accounts with 50M coins forge appx 35 000 coins a day which means you need 4 years to make another 50M. So even if the price stays the same and number of transactions won't increase you're fine. Four years is a good timing. Open and operate a restaurant for example is much harder and risky.

No way you can mine 35k NxT with 50M.
It's a lot of less than that. Less than 1k for sure.

[BitAddict]

Is there any vanity adress gen?

[Damelon]

I still don't understand how to mine this coin. Got absolutely nothing. Any help anywhere in these 600 pages?

Forging is basically not something that is really important in NXT as a way to think about the coin.
It's more in the nature of a "perk" when the transactions are going well and you have a significant amount of NXT in your active account.
You basically get a chance to "forge" a block in the chain and get all transactionfees associated with that block.

However, the chances of forging (when the coin has decentralised a lot) will be very low for most people.

I think of it as a nice extra, nót as a way to earn easy money by just having it rest.

Hope that clears it up a bit.

But why not? I read that top accounts with 50M coins forge appx 35 000 coins a day which means you need 4 years to make another 50M. So even if the price stays the same and number of transactions won't increase you're fine. Four years is a good timing. Open and operate a restaurant for example is much harder and risky.

No way you can mine 35k NxT with 50M.
It's a lot of less than that. Less than 1k for sure.

If people made an average from the beginning of the chain, it may be skewed because I think there were some tryouts with fees in the beginning. I saw some accounts with HUGE fees at a time when NXT was just starting, I think. That would throw the calculation off balance.

[gbeirn]

Is there any vanity adress gen?

Edit: I stand corrected.

You could always purchase an alias and link it to your NXT account ID

[User705]

There were some large fees when alias system came out.

[abctc]

Is there any vanity adress gen?

https://bitcointalk.org/index.php?topic=345619.msg3759147#msg3759147
https://bitcointalk.org/index.php?topic=345619.msg3735874#msg3735874

[Alias]

Do I have the honor of submitting the first research paper (if you can call it that!) about NXT for Peer Review by the community!? 

Check it out at the following link please - https://nextcoin.org/index.php/topic,1890.0.html

Regards,
Al

[utopianfuture]

I still don't understand how to mine this coin. Got absolutely nothing. Any help anywhere in these 600 pages?

Forging is basically not something that is really important in NXT as a way to think about the coin.
It's more in the nature of a "perk" when the transactions are going well and you have a significant amount of NXT in your active account.
You basically get a chance to "forge" a block in the chain and get all transactionfees associated with that block.

However, the chances of forging (when the coin has decentralised a lot) will be very low for most people.

I think of it as a nice extra, nót as a way to earn easy money by just having it rest.

Hope that clears it up a bit.

But why not? I read that top accounts with 50M coins forge appx 35 000 coins a day which means you need 4 years to make another 50M. So even if the price stays the same and number of transactions won't increase you're fine. Four years is a good timing. Open and operate a restaurant for example is much harder and risky.

No way you can mine 35k NxT with 50M.
It's a lot of less than that. Less than 1k for sure.

50 million account could mine 1K but probaly less than 2K per day. It depends on the amount of traffic that day. A number could be easily calculated using the info from the blockchain explorer.

[utopianfuture]

Do I have the honor of submitting the first research paper (if you can call it that!) about NXT for Peer Review by the community!? 

Check it out at the following link please - https://nextcoin.org/index.php/topic,1890.0.html

Regards,
Al

Al, thanks. you got the honor. We need these kind of researches. I will be doing a peer- review article in the economics side soon.

[Come-from-Beyond]

WTF?

From http://nextcoin.criptomonedas.tel:

NextCoin is the first BitCoin powered debit card

With NextCoin you have very little chance of compromisation. Plus, at stores which accept NextCoin specifically, you even have a requirement of a PIN number. Although we can reset your PIN if you need it. It's potentially risk free!

Q: So how does it work?

A: When it is released you request a card from the purchase page and voila!

Q: Why do you use CoinBase?

A: We use CoinBase for wallet hosting so that you don't have to risk your computer being turned off, or your internet being disconnected, or even your power being suspended. Then in turn making your coins inaccessible.

[Damelon]

WTF?

From http://nextcoin.criptomonedas.tel:

NextCoin is the first BitCoin powered debit card

With NextCoin you have very little chance of compromisation. Plus, at stores which accept NextCoin specifically, you even have a requirement of a PIN number. Although we can reset your PIN if you need it. It's potentially risk free!

Q: So how does it work?

A: When it is released you request a card from the purchase page and voila!

Q: Why do you use CoinBase?

A: We use CoinBase for wallet hosting so that you don't have to risk your computer being turned off, or your internet being disconnected, or even your power being suspended. Then in turn making your coins inaccessible.

Basically taken from here: https://www.coinfunder.com/project/nextcoin

[Come-from-Beyond]

Basically taken from here: https://www.coinfunder.com/project/nextcoin

Looks like a scam.

[wakasaki808]

WTF?

From http://nextcoin.criptomonedas.tel:

NextCoin is the first BitCoin powered debit card

With NextCoin you have very little chance of compromisation. Plus, at stores which accept NextCoin specifically, you even have a requirement of a PIN number. Although we can reset your PIN if you need it. It's potentially risk free!

Q: So how does it work?

A: When it is released you request a card from the purchase page and voila!

Q: Why do you use CoinBase?

A: We use CoinBase for wallet hosting so that you don't have to risk your computer being turned off, or your internet being disconnected, or even your power being suspended. Then in turn making your coins inaccessible.

Maybe we should just try and get people to refer to us at Nxt from now on... lol