NXT :: descendant of Bitcoin - Updated Information

[idev]

can anyone recommend a public node that i can use to generate some addresses from private keys?

Please feel free to use my node, link is my sig.

[Damelon]

I finally published my blog post about Alias goldrush on 22nd December (how I spent 7 hours by registering 740 aliases ):
http://nxtcoin.blogspot.com/

- there are some personal thoughts and also some statistics

Nice read
I had no idea there was such a big rush.

I'm not in the top 10, but close to it.

Also, I chose mostly 'long term' aliases, i.e., I don't have a metric shit ton of aliases like 'Viagra', etc. I grabbed more (hopefully) long-term, long-growth stuff.

Frex -- people were probably tripping over themselves to grab Amazon and Facebook (rightfully so), yet they hemorrhage money. There were still hundreds of other Fortune 500 companies available.

Anybody know who Nucor is? Probably not. I didn't. They're the largest recycler in North America. Generated half a billion in profits. Certainly not sexy, and will generate virtually 0 in web traffic. But there's value in companies like that, I think.

Part of me feels shitty for reserving (squatting) so many aliases. The other part of me says 1) fuck it, I didn't start registering until 12/25 (Christmas night!)... how could valuable aliases still be sitting out there three days later? and 2) it felt like the only way for someone with little NXT to try to generate something. I have 6000 nxt. That won't forge anything. I could have 60,000 and it wouldn't forge anything.

I'd love to be at about 250,000 NXT, which is impossible in my current financial situation. I think somewhere in my alias pool I can scrape that together.

Other people grabbed porn and poker and prescription drugs, I grabbed the abbreviations of commodity exchanges. I'm a dork.

If anyone is interested in this alias pooling concept (I am!!!), PM me!

I think my combined accounts put me on place 3.
I know the feeling about squatting, too.

On the other hand, it was fun seeing loads of people moaning that NXT was too expensive while I sat there with my wallet of 2000 NXT inputting aliases to get some value out of my investment .

I think I've got a nice list. If even one third of them does well, I will be a very happy person/bunny.
I am interested in any plans concerning aliases, be it development of things (on the ideas side as I have no developer's skills whatsoever) or anything else.
Hell, I'm up for anything that involves the use of words and communication.

Exciting times!

[yan83]

When will the explorer be back online?
When will the explorer be back online?

[Zahlen]

I am working on a way for small stakeholders to pool their forging, but I can't figure out how to be able to distribute much more than 50%. Would that be enough to be worth implementing?

I don't know what amount would be enough for regular folks with small holdings, but this comparison might help you think about it:


People keep their fiat currency pooled in banks, which are managed by other people, instead of keeping it under their mattresses or in their safes. They do so for a few reasons:

1) Annual interest gains, for small accounts, typically ~0.1% - 1% I think? (Varies among banks of course)
2) Physical security against theft and destruction. Most people feel banks are still the safer option for large amounts of cash
3) Convenient services like credit cards, cheques, loans, investment options.

And in return they

4) accept the risk of banks failing and their fiat $ disappearing.


NXT pools can't be like other crypto pools because the 'mining' involved is completely different. In order to get people to deposit their NXT in a common pool instead of their own wallets or NXT accounts, I think you'd have to offer something competitive to banks. So you'll have to examine

1) How much returns on NXT deposit can you give out? I guess this will depend on how many NXT transactions are made (and consequently transaction fees paid out to block solvers), which we can't tell until NXT gets greater adoption and people start really doing things with it.
2) Security against hacking, accidental loss (and maybe bugs?). Currently the NXT client is hard to use for a regular person (though this may change with more bounties!) Can a NXT pool offer greater safety?
3) Can NXT pools offer services not already built into the NXT protocol, or available from just using small personal accounts?

And

4) The risks people feel of pool managers running off with their NXT?


I don't have good answers; I'm new to crypto$, and don't use banks for much more than just security.

[jl777]

Zahlen,

Thanks for the feedback!
We are still in very early days so any estimate is going to be very rough, but I would not be surprised at an average interest rate of 10% to 30% per year.

We are not competing with banks at all, as even after 50% going to costs, it will net 5% to 15% per year.

The problem with small stakes is that even though statistically there is the same chance per NXT as a large stake, the reality of .0000001 probabilities is that realistically you probably won't forge a block for many years, when you do it will be a big lump sum, possibly more than your entire NXT balance!

Certainly the client is currently hard to use, but worse than that I read today about transparent mining allowing hackers to target the computer that will forge the next block. I am still trying to understand why transparent forging is a good thing in a way to explain it to "normal" people.

So, if you have  small stake and want to forge, you open yourself up to being DDosed by the evil forces, all this for a remote chance at forging a block. My guess is that most people will pass.

OK, so here is my idea. I am sure it is not quite right since I don't fully understand asset exchange. Assuming it is similar to a company issuing stock, and assuming it can continue issuing stock on an as needed basis, I propose a NXTmutualfund, each share in the NXTmutualfund will cost 1 NXT. Everyone that buys a NXTmutualfund share will get a prorata amount of the forging revenues from all the NXT as a dividend to their specified address, or you can select an automatic reinvestment program to purchase more shares with some or all of your NXT.

Depending on the total number of NXT that will be deposited, the payout will vary. I expect there will need to be a website with DDos protection, some sort of distributed wallet to make sure any password breach only affects a small percentage of the entire balance. Some accounting work to track accounts, balances, etc. Unless all of the work needed to achieve this is magically already in a single person, some reasonable percentage of NXT off the top for each actively involved person.

I've heard about multi-sig, so there could be a protection mechanism that requires multiple authorized signers to do anything with the deposited funds other than satisying withdrawal requests. We need to ask CfB how we can make the deposited funds as secure as possible without requiring onerous procedures.

My estimate is that unless there is a large enough amount of deposits (of currently unknown levels), it could easily eat up 50% of the fees. Maybe even the mid-sized stakeholders would want to participate. In that case, it could easily add up to 10 million NXT total and that should enough to lower the costs as a percentage of forging revenue. Maybe all the way down to 10%? Not sure.

So, any volunteers to create and/or manage the NXTmutualfund? This will answer people's objection that forging is only for the big accounts. Even accounts with 10 NXT would get the same interest rate as someone with 100,000 NXT. With the proper security measures, I could see even the larger stakeholders to be interested in this. A safe place to store NXT while earning almost as much forging fees as you would have if you solo-forged, without any of the hassles.

James

P.S. Happy New Year!

[zhangdu]

When will the explorer be back online?
When will the explorer be back online?

seems 24hrs never has the end!

[jl777]

You can use http://22k.io/-account/<your acct number here>

It shows all the raw data and is pretty useful

James

[opticalcarrier]

You can use http://22k.io/-account/<your acct number here>

It shows all the raw data and is pretty useful

James

that is a very cool tool.  Hoe easy would it be to have it show which blocks than an account generated?

[jl777]

I wouldn't think it would be that hard, but I think this is ferment's tool. You have to ask him. I think he is wanting to get a big chunk of the community fund!

James

[jl777]

Can anybody calculate 5% of the total transaction fees for yesterday?
What percentage of that was from alias and what percentage from NXT transfer fees?

James

[ninjaboon]

You can use http://22k.io/-account/<your acct number here>

It shows all the raw data and is pretty useful

James

really nice, thanks.

[opticalcarrier]

for the night crew...

Introducing the NXT Foundations forums site at https://forums.nxtcrypto.org

Everyone, as part of the NXT Foundation initiative, I am pleased to announce that bitcointalk user btc24 has completed migration of his nxtalk.org forums over to forums.nxtcrypto.org effective immediately.  We formed the NXT Foundation in an effort to collaborate on the promotion of NXT as the 2nd generation cryptocurrency.  The first goal will be to set up a series of sites under the Foundation's official domain NXTCRYPTO.ORG.  As one of the main functions of NXT is decentralization, we have devised a decentralized method of control of the information between all sites of the domain, such that 1 person does not control everything and from cooperation, things get done.  The NXT dev team will have little to no connection at all with the foundation, though we certainly intend to assist the dev team however we can.

Wiki:
Joefox@bitcointalk has stepped up and provided hosting for http://wiki.nxtcrypto.org as well as DDOS protection on a MediaWiki system.  Please visit the wiki if you are interested in translation help.  He is paying for all this himself, so donations are appreciated.

Info:
A person wishing to remain anonymous has stepped up and provided hosting for http://info.nxtcrypto.org as well as DDOS protection on that site.  The site is intended for critical updates and critical info/news from the dev team. As he wishes anonymity, he is unable to receive donations.

Web:
QBTC from nextcoin.org has stepped up and provided hosting for http://www.nxtcrypto.org as well as DDOS protection on that site.  She is paying for all this herself, so donations are appreciated.

Forums:
NXTALK.ORG has moved to forums.nxtcrypto.org and will become the official forums for the NXT Foundation. Please visit the forums if you are interesting in moderating one of the language boards.  Adminius on forums.nxtcrypto.org AKA btc24 on bitcointalk has stepped up and provided hosting for http://forums.nxtcrypto.org as well as DDOS protection on the site.  He is paying for all this himself, so donations are appreciated.

DNS administrator:
These duties will be my particular area.  Since that is the case I will not be administering any of the sites.  Though I will be helping out with the forums, moderation, ultimate control of these forums falls to Adminius.  Thanks to 2Kool4Skewl for paying for the domain and to the anonymous Info site manager for the SSL certs.  Hopefully in a year when these are renewed I'll have lots of $ to pay for it.

Please support the new https://forums.nxtcrypto.org to take the bloat off this thread

[Kaliber1]

for the night crew...

Introducing the NXT Foundations forums site at https://forums.nxtcrypto.org

Everyone, as part of the NXT Foundation initiative, I am pleased to announce that bitcointalk user btc24 has completed migration of his nxtalk.org forums over to forums.nxtcrypto.org effective immediately.  We formed the NXT Foundation in an effort to collaborate on the promotion of NXT as the 2nd generation cryptocurrency.  The first goal will be to set up a series of sites under the Foundation's official domain NXTCRYPTO.ORG.  As one of the main functions of NXT is decentralization, we have devised a decentralized method of control of the information between all sites of the domain, such that 1 person does not control everything and from cooperation, things get done.  The NXT dev team will have little to no connection at all with the foundation, though we certainly intend to assist the dev team however we can.

Wiki:
Joefox@bitcointalk has stepped up and provided hosting for http://wiki.nxtcrypto.org as well as DDOS protection on a MediaWiki system.  Please visit the wiki if you are interested in translation help.  He is paying for all this himself, so donations are appreciated.

Info:
A person wishing to remain anonymous has stepped up and provided hosting for http://info.nxtcrypto.org as well as DDOS protection on that site.  The site is intended for critical updates and critical info/news from the dev team. As he wishes anonymity, he is unable to receive donations.

Web:
QBTC from nextcoin.org has stepped up and provided hosting for http://www.nxtcrypto.org as well as DDOS protection on that site.  She is paying for all this herself, so donations are appreciated.

Forums:
NXTALK.ORG has moved to forums.nxtcrypto.org and will become the official forums for the NXT Foundation. Please visit the forums if you are interesting in moderating one of the language boards.  Adminius on forums.nxtcrypto.org AKA btc24 on bitcointalk has stepped up and provided hosting for http://forums.nxtcrypto.org as well as DDOS protection on the site.  He is paying for all this himself, so donations are appreciated.

DNS administrator:
These duties will be my particular area.  Since that is the case I will not be administering any of the sites.  Though I will be helping out with the forums, moderation, ultimate control of these forums falls to Adminius.  Thanks to 2Kool4Skewl for paying for the domain and to the anonymous Info site manager for the SSL certs.  Hopefully in a year when these are renewed I'll have lots of $ to pay for it.

Please support the new https://forums.nxtcrypto.org to take the bloat off this thread

I'm from China, if I can do anything just tell me ok?

NXT is the real next gen.

[nadrimajstor]

Only 200 aliases... I feel I should have at least twice that. Some are registering hourly,,, some others are not adding though. Could it take more than 24 hours to update?

See someone locked in Sakura in all 30 plus ways it can be written   Still got an alt of it in 1337

I hope you make a lot of money from it.

heh, probably not
Some aliases I'm very surprised I got. Other fairly obscure ones I'm surprised were already taken.

Waiting for the servers to come online as I have another 700 to input. I can see doing 10k atleast...

Kinda wish you could batch upload a list of Aliases.... instead of this tedious 1 by 1 shit

Happy New Year

Code:

#!/usr/bin/env bash

#title		:nxt_alias_batch_register.sh
#description	:This script creates nxt aliases from a list in the given file
#author		:nadrimajstor
#date		:2014-01-01
#version 	:0.1
#licence	:This program is free software: you can redistribute it and/or modify
#		 it under the terms of the GNU General Public License as published by
#		 the Free Software Foundation, either version 3 of the License, or
#		 (at your option) any later version.
#
#		 This program is distributed in the hope that it will be useful,
#		 but WITHOUT ANY WARRANTY; without even the implied warranty of
#		 MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
#		 GNU General Public License for more details.
#
#		 You should have received a copy of the GNU General Public License
#		 along with this program.  If not, see <http://www.gnu.org/licenses/>.

function are_arguments_correct(){
  if [[ "$#" -ne 4 || "$1" == "-h" || "$1" == "--help" ]]; then
    echo ""
    echo "Usage:"
    echo "  $0 ACCOUNT PASSPHRASE FILE URI"
    echo ""
    echo "Example:"
    echo "  $0 23948723498 mY1337PassPhrase alias.txt 'http://www.example.com'"
    exit 0
  fi
}

function is_curl_installed(){
  if ! hash curl &>/dev/null; then
    echo -e "\e[1;37mcurl\e[0m - \e[0;31mnot installed\e[0m"
    echo "try: sudo apt-get install curl"
    exit 1
  fi
}

function is_server_running(){
  if ! curl --silent -k "$URL/nxt?requestType=getState" &>/dev/null; then
    echo -e "\e[1;37m$URL\e[0m - \e[0;31mserver not found\e[0m"
    exit 1
  fi
}

function is_account_balance_positive(){
  local __balance=$(curl --silent -k "$URL/nxt?requestType=getBalance&account=$ACCOUNT" |\
                    grep 'balance' | tr --delete '{"}' | tr ':,' ' ' | cut -d ' ' -f2
                   )
  if ! [[ "$__balance" -gt 0 ]]; then
    echo -e "\e[1;37m$ACCOUNT\e[0m - \e[0;31mnot enough funds\e[0m"
    exit 1
  fi
}

function does_file_exist(){
  if ! [ -r "$FILE" ]; then
    echo -e "\e[1;37m$FILE\e[0m - \e[0;31mcan not read file\e[0m"
    exit 1
  fi
}

function create_alias(){
  local ALIAS=$1
  local __result=$(curl --silent -k "$URL/nxt?requestType=assignAlias&secretPhrase=$SECRET&alias=$ALIAS&uri=$URI&fee=$FEE&deadline=$DEADLINE")
  echo -e "\e[1;37m$ALIAS\e[0m - $__result"
}

are_arguments_correct $*
is_curl_installed

URL="https://localhost:7875"
is_server_running

ACCOUNT=$1
is_account_balance_positive

FILE=$3
does_file_exist

SECRET=$2
URI=$4
FEE=1
DEADLINE=1440

for line in $(cat "$FILE"); do
  create_alias $line
done

nxt_alias_batch_register.sh

[laowai80]

I didn't start registering until 12/25 (Christmas night!)... how could valuable aliases still be sitting out there three days later?

there are plenty good ones left, I did a few aliases just yesterday.

[mnightwaffle]

Happy New Year

EXCELLENT !!!
 

I'll try to figure it out
Another guy posted one but I was clueless and he didn't follow up

there are plenty good ones left

absolutely


EDIT: LINUX?

[lophie]

Planning on selling one million nxt in a couple of days in compliance with fair distribution with other members .

Happy new year, Lophie

P.S. of course close to market price at that time but a bit lower

- Lophie

[2Kool4Skewl]

New Video about Nxt in Russian!

Good Job!

[laowai80]

EDIT: LINUX?

huh?

[2Kool4Skewl]

Someone should write a guide on running Nxt through Tor and I2P.

Be sure to include routing DNS requests through the anonymizing application.