NXT :: descendant of Bitcoin - Updated Information

[BloodyRookie]

BCNext will decide.

Hehe....thats what I call true decentralization 

[1715366070]

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[1715366070]

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[1715366070]

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[2X84]

Seriously, how do you think the one party who is allowed to be the BTC/NXT gateway will price his/her services?  With no competition the NXT exchange, as a whole, could very likely suffer from monopolies on assets like BTC, USD and gold.

One party will pay 1000 NXT to issue an Asset within the NXT Asset Exchange, which will be a BTC/NXT gateway.

Another party can also pay 1000 NXT to issue a DIFFERENT Asset within the NXT Asset Exchange, which can also be a BTC/NXT gateway.


Either you and the others raising these concerns have a misconception of what an Asset is OR I need to do a lot of homework!  

Fair enough. Thanks.

smaragda is correct. Anyone can be BTC/NXT gateway if he wants. Actually I would rather have mBTC/NXT gateway. Just one more thing, it would be extremely difficult to get a market going. Ripple has been here for years with huge backing and it is going no where. Regardless how many BTC/NXT gateways are there in NXT asset, I for one would be extremely difficult to be persuaded to buy one BTC from you. If want BTC I would rather go for the real thing at coinbase or BTC-China or bitstamp.

I would definitely buy virtual high performance CDs though  .

[utopianfuture]

Seriously, how do you think the one party who is allowed to be the BTC/NXT gateway will price his/her services?  With no competition the NXT exchange, as a whole, could very likely suffer from monopolies on assets like BTC, USD and gold.

One party will pay 1000 NXT to issue an Asset within the NXT Asset Exchange, which will be a BTC/NXT gateway.

Another party can also pay 1000 NXT to issue a DIFFERENT Asset within the NXT Asset Exchange, which can also be a BTC/NXT gateway.


Either you and the others raising these concerns have a misconception of what an Asset is OR I need to do a lot of homework!  

Fair enough. Thanks.

smaragda is correct. Anyone can be BTC/NXT gateway if he wants. Actually I would rather have mBTC/NXT gateway. Just one more thing, it would be extremely difficult to get a market going. Ripple has been here for years with huge backing and it is going no where. Regardless how many BTC/NXT gateways are there in NXT asset, I for one would be extremely difficult to be persuaded to buy one BTC from you. If want BTC I would rather go for the real thing at coinbase or BTC-China or bitstamp.

I would definitely buy virtual high performance CDs though  .

Wait until you win big and the issuer defaults

[notsoshifty]

It does get checked in the verifyGenerationSignature method.

pushBlock() checks that forger doesn't cheat.
verifyGenerationSignature() called by pushBlock().

Thanks! Makes sense.

[nexern]

Interesting thread about P2P exchange - https://bitcointalk.org/index.php?topic=395953.0;topicseen

Well I think we need to move faster.

yes! and we will do.
i am just adding the last components for the explorer (alias search), cleaning the codebase
and finalize the explorer. it was planned to add some more features (filters/pagination/charts/mining calculator)
but i think these are not so important, as long the main funktion is working properly. this can be done
later and is on my todo list. i see the explorer more than a community asset than a personal project.

tomorrow i am starting the client/asset-exchange fulltime, which means much more output from my side.
the asset exchange is the most difficult part (async api/data storage/charts/order matching/different instruments
like shared revenue, options, bonds etc.) but once fully functional all other services can be plugged in very fast.
i guess much faster than other competitioners. the first beta should be ready in ~3 weeks (which is very sporty),
ready to check heavily via testnet. if no major bugs are found the final is planned 1-2 weeks later and yes, competition
is good, have no problems with that. 

btw, happy new year!

[fmiboy]

well, no respond from experienced nxters, yet...

so blocks.nxt was about 5 mb, but blocks.nxt.bak is about 11.3 mb so I did copy bak file and replace blocks.nxt. Now I get,
"Loading blocks ..."
...Done
and client started to work again. But no idea what caused the crash, maybe there is small bug

You had fallen off the main chain and generated an incorrect block.

It seems you have caught up again!   

Just make sure you are using the latest client and have performed all the appropriate security checks.

Thanks for comment!
Is it normal, though?

I am on NRS 0.4.8, and wonder if it happens with everyone?! I don't think it is, because people suppose to forge days without crash, right

security checks...  security as far as i can tell good enough. but I think it was something to do with client or maybe memory run out... (nothing to do with account itself, i think )

[2X84]

Wait until you win big and the issuer defaults

Damn, good point... We need to have IDRs and such for investment related activity. I think I might start a cryptographic investment bank when the asset exchange goes online.

[utopianfuture]

Interesting thread about P2P exchange - https://bitcointalk.org/index.php?topic=395953.0;topicseen

Well I think we need to move faster.

yes! and we will do.
i am just adding the last components for the explorer (alias search), cleaning the codebase
and finalize the explorer. it was planned to add some more features (filters/pagination/charts/mining calculator)
but i think these are not so important, as long the main funktion is working properly. this can be done
later and is on my todo list. i see the explorer more than a community asset than a personal project.

tomorrow i am starting the client/asset-exchange fulltime, which means much more output from my side.
the asset exchange is the most difficult part (async api/data storage/charts/order matching/different instruments
like shared revenue, options, bonds etc.) but once fully functional all other services can be plugged in very fast.
i guess much faster than other competitioners. the first beta should be ready in ~3 weeks (which is very sporty),
ready to check heavily via testnet. if no major bugs are found the final is planned 1-2 weeks later and yes, competition
is good, have no problems with that. 

btw, happy new year!

you are the man. Money, reputation and (girls) are waiting for you

[ZeroTheGreat]

People ask why Nxt is not inflationary. Could anyone tell me why it's not inflationary if it's possible to issue other currencies using Asset Exchange? This increases number of "coins" owned by users, right?

interesting question!

at least, inflation is increase of the price.
if we substitute 1nxt by 3btc we have increased the price for one nxt by factor 3:0.0001
... hm ? ?

It's not inflation, no new NXT'll be created. It's devaluation of against's active. Such as $. Gold haven't inflation too despite it's being mined. Just non-mined gold has no comfort form and some part has no owner (such as deep gold, lost gold, out-Earth gold). Actually we can create new gold (nuclear things), but whil it's more expensive than gold costs itself, it's not a stable source. Market estimates all amount of gold, all amount of easy-to-get-gold and generates currrent price.

I think. It's nature of commodity money.

[gbeirn]

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509      
16204974692852323982  contains 7808  NXT taken from PaulyC's  16821029889165561706    
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099    

So I received 36K NXT from 2 contributors to help reimburse people. I already fully reimbursed PaulyC from my own account. That leaves:

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509          
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099  

Total of 284640NXT.
Framewood: 35.16%
plasticAiredals: 6.56%
newcn: 6.39%
sparta_cuss: 51.89%

I guess the fairest way would be to split them up proportional to what you lost, so:

Framewood: 12658NXT
plasticAiredals: 2362NXT
newcn: 2300NXT
sparta_cuss: 18680NXT

Please post addresses so I can send you NXT.

[plasticAiredale]

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509      
16204974692852323982  contains 7808  NXT taken from PaulyC's  16821029889165561706    
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099    

So I received 36K NXT from 2 contributors to help reimburse people. I already fully reimbursed PaulyC from my own account. That leaves:

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509          
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099  

Total of 284640NXT.
Framewood: 35.16%
plasticAiredals: 6.56%
newcn: 6.39%
sparta_cuss: 51.89%

I guess the fairest way would be to split them up proportional to what you lost, so:

Framewood: 12658NXT
plasticAiredals: 2362NXT
newcn: 2300NXT
sparta_cuss: 18680NXT

Please post addresses so I can send you NXT.

Thank you very much. Your generosity will not be forgotten by me. 

17139321135754562770

[bidji29]

Interesting thread about P2P exchange - https://bitcointalk.org/index.php?topic=395953.0;topicseen

Well I think we need to move faster.

yes! and we will do.
i am just adding the last components for the explorer (alias search), cleaning the codebase
and finalize the explorer. it was planned to add some more features (filters/pagination/charts/mining calculator)
but i think these are not so important, as long the main funktion is working properly. this can be done
later and is on my todo list. i see the explorer more than a community asset than a personal project.

tomorrow i am starting the client/asset-exchange fulltime, which means much more output from my side.
the asset exchange is the most difficult part (async api/data storage/charts/order matching/different instruments
like shared revenue, options, bonds etc.) but once fully functional all other services can be plugged in very fast.
i guess much faster than other competitioners. the first beta should be ready in ~3 weeks (which is very sporty),
ready to check heavily via testnet. if no major bugs are found the final is planned 1-2 weeks later and yes, competition
is good, have no problems with that. 

btw, happy new year!

So you took some vacations?
Did you got enough donations?

[jl777]

I guess this is the sort of thing voting to freeze accts would be used for? If the dgex accts can be frozen until this is all resolved, at least we know where the NXT is.

Maybe dgex owner will voluntarily freeze these accts for now?

James

[ZeroTheGreat]

We still need to trust in individuals, otherwise nothing get done.

No, we don't. After some reading everyone can slowly of faster analyse opensourced code. After some reading everyone can check checksums and understands what cryptography brings to the table. Transparency, honesty inside big community of learning people annihilate need of personal trust with time. Everyone'll know how everything works around him, what to expect including all kinds of risks (like bogus downloads) and how to deal with it. And with centralization of any kind, Oruell's "1984" slowly comes into our lives. U'll be told with authority what to think pertty soon if nothing changes.

[gbeirn]

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509      
16204974692852323982  contains 7808  NXT taken from PaulyC's  16821029889165561706    
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099    

So I received 36K NXT from 2 contributors to help reimburse people. I already fully reimbursed PaulyC from my own account. That leaves:

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509          
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099  

Total of 284640NXT.
Framewood: 35.16%
plasticAiredals: 6.56%
newcn: 6.39%
sparta_cuss: 51.89%

I guess the fairest way would be to split them up proportional to what you lost, so:

Framewood: 12658NXT
plasticAiredals: 2362NXT
newcn: 2300NXT
sparta_cuss: 18680NXT

Please post addresses so I can send you NXT.

Thank you very much. Your generosity will not be forgotten by me. 

17139321135754562770

2362NXT sent!

[plasticAiredale]

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509      
16204974692852323982  contains 7808  NXT taken from PaulyC's  16821029889165561706    
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099    

So I received 36K NXT from 2 contributors to help reimburse people. I already fully reimbursed PaulyC from my own account. That leaves:

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509          
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099  

Total of 284640NXT.
Framewood: 35.16%
plasticAiredals: 6.56%
newcn: 6.39%
sparta_cuss: 51.89%

I guess the fairest way would be to split them up proportional to what you lost, so:

Framewood: 12658NXT
plasticAiredals: 2362NXT
newcn: 2300NXT
sparta_cuss: 18680NXT

Please post addresses so I can send you NXT.

Thank you very much. Your generosity will not be forgotten by me. 

17139321135754562770

2362NXT sent!

  When EpicThomas figures out its better to send the NXT back I will be sure to reimburse you this donation. Please thank the other people who donated for me.

[utopianfuture]

We still need to trust in individuals, otherwise nothing get done.

No, we don't. After some reading everyone can slowly of faster analyse opensourced code. After some reading everyone can check checksums and understands what cryptography brings to the table. Transparency, honesty inside big community of learning people annihilate need of personal trust with time. Everyone'll know how everything works around him, what to expect including all kinds of risks (like bogus downloads) and how to deal with it. And with centralization of any kind, Oruell's "1984" slowly comes into our lives. U'll be told with authority what to think pertty soon if nothing changes.

Agree  you can trust individuals being honest and transparent otherwise y don't need to trust anything else.

[laowai80]

...we are still in alpha.

come one, jump into beta, quick

http://info.nxtcrypto.org/client-update-0-4-9e-beta/

[Framewood]

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509      
16204974692852323982  contains 7808  NXT taken from PaulyC's  16821029889165561706    
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099    

So I received 36K NXT from 2 contributors to help reimburse people. I already fully reimbursed PaulyC from my own account. That leaves:

13643712185318669838  contains 100088 NXT taken from Framewood's   697109629372813510  
15182566201738727933  contains 18665 NXT taken from plasticAiredale's    8439060069775407509          
9793828175536096502   contains 18197 NXT taken from newcn's   16886318053889080545    
12152013998194592943  contains  147690 NXT  taken from sparta_cuss's  11794318797680953099  

Total of 284640NXT.
Framewood: 35.16%
plasticAiredals: 6.56%
newcn: 6.39%
sparta_cuss: 51.89%

I guess the fairest way would be to split them up proportional to what you lost, so:

Framewood: 12658NXT
plasticAiredals: 2362NXT
newcn: 2300NXT
sparta_cuss: 18680NXT

Please post addresses so I can send you NXT.

Great work guys and gals!

I stated in my post on https://nextcoin.org/index.php/topic,1466.0.html that I would donate 1/2 of my amount back to the community if this issue is solved so if I get my NXT back I want to leave/donate 50,044 to the fund to help others that have been scammed.

[gradis]

So for this has been a utter joke. Alpha status at start. Client hacked no trustworthy d/l available. Main dev off to make his own coin at some point in future. ah comon what is this shit?