NXT :: descendant of Bitcoin - Updated Information

[Jean-Luc]

Guys any link to 0.5? First page link doesnt work.

• Open Jean-Luc profile
• Press "Show the last posts of this person."
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We didn't organize it well for this release, but from now on new releases should always appear on http://info.nxtcrypto.org in addition to my announcement here. And you should be able to use the built-in update checker, http://localhost:7874/update.html to check for new versions, and download and verify the zip package.

[jl777]

Hey JL

 I want to use ripple, I just want a clear price on buying and selling NXT. This 3way conversion is messing up my wine addled brain on a sunday morning.
 Please help with a price calculation. thanks

Wow, BTC really spiked, its now $900+ on btc-e, this explains why the XRP price for BTC is now at 34500. Ripple has an ios app that shows the latest prices, its free on Apple store. You can also get fairly recent price from ripplecharts.com, select BTC from bitstamp, its the most active BTC issue.

Each XRP is worth the reciprocal of the BTC/XRP price. Usually going through BTC will add a lot of volatility to non-BTC to non-BTC pair. This is one advantage of trading NXT/XRP as the value of XRP usually tends to trade in a way similar to anything not BTC, but always exceptions especially in thin markets.

I didn't have time to explain all the intricacies of ripple and XRP issues during the src release when dgex was first down for hours and then comes back with horrible fees. I hope I did my part in convicing dgex owner to lower fees, if he really does lower them significantly.

On a dilution basis, one NXT should be worth 100XRP, since there are 100 billion XRP and 1 billion NXT. The fact that it is currently around 2.50, means there is a potential 40x gain to be made in NXT/XRP as the world finds out about NXT. The reason I have been pushing people to use Ripple, is that currently ripple is also still in beta release and the total daily volume of all ripple is LESS than NXT volumes.

What that means is that even if 10% of NXT trading moves to NXT, then it will instantly become one of the top issues in the ripple network. Since all of this trading is by NXT'ers, we will set the market price of NXT within ripple. Once the rest of ripple notices, and they certainly will notice the largest trading issue, that will be 50,000+ new people who will consider NXT. 50,000 people who have ripple accounts, people who tried out a proof of stake system with a bad reputation. 50,000 potential people that I can market to.

However, with the sparse market in NXT/XRP, it will be hard to get a lot of interest in it for other ripplers. In ripple-land, people are skeptical of NXT and I am doing what I can to correct their misconceptions.

So, please peoples, put aside your anti-ripple bias and move 10% of your trading to ripple via peercover. My offer to send anybody 30XRP to get started is still open. Just return it or NXT equivalent when you are setup.

Getting an alternate market to dgex that has high enough volumes and small enough spreads is a STRATEGIC issue. As such, I will keep harping on it. Do we really want to be in a position to be held hostage by dgex again.

For those who are waiting for asset exchange to make external exchange irrelevant, I think you will discover that I am right when I say, we still need exchanges after asset exchange is launched. It will take a while for the market to latch onto a trusted issuer and fragmentation of markets will also be an issue. Also, how are people who don't already have NXT supposed to get NXT in the first place? STRATEGIC value in high volume non-dgex exchange. Do we really want the only dgex alternative to be nxtchg.com? No offense to nxtchg.com owner, but my impression is that he is one guy hosted on VPS. Is it Ddos resistant like ripple servers distributed ledger? Last I heard nxtchg policy on any large lost NXT is to be eaten by the customer. I personally cannot recommend nxtchg (or dgex) to my potential clients who will be looking to purchase millions of NXT

If there was an active market for NXT on ripple, then I would be able to use that as a mechanism to sell large blocks of NXT to investors. peercover already has a working solution for this. All that I need is for there to be a bit more volumes and better spreads. 2.21 by 2.7 XRP is current spread, which is too big. Please help, all you have to do is trade 10% of your NXT using ripple. This will create enough of a buzz within ripple so that an audience of 50,000 can be marketed to. If 1% become active NXT'ers that will be 500 NXT traders on ripple. All new blood. Is this not a good thing for NXT?

James

[salsacz]

Ricky can you. track down drexme as well?  He absconded with the nextcoin donation acct with 33k nxt in it

What the heck, I don't have enough time to do all the other stuff I gotta do, so sure, I'll take him on later next week.  One crusade at a time.  

Really, I thought he handed the donation fund to Opticalc.  I know because he sent my 25k back to me.  Also, Drexme was extremely helpful with getting the client up and running for me and others, he seemed like a pretty honest person.

so once again

What do we know about drexme:

Providing escort with linking on the account with 100 Nxt:
https://nextcoin.org/index.php/topic,1437.msg12148.html#msg12148

Created a giveaway, collected 35k Nxt, deleted Giveaway topic. This is Drexme's giveaway account:
http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=7161646874450697154

14 days ago it was cashed out to the Dgex...

(also 18.12. were some 25K sold probably via msin's escort, but these money could be originally Drexme's)



Drexme's account also cashed 14 days ago:
http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=8333778433828768082

1. cashed Nxt from personal account:
21.12.2013 03:44:59      6635869272840226493   100,000

2. transfered remaining Nxt from personal to bounty:
21.12.2013 20:30:11      8333778433828768082   2,301

3. all sold to dgex:
21.12.2013 20:32:46      6635869272840226493   33,900

[punkrock]

Can I donate to this site owner so he can buy a domain name?

Use NXTblockchain.com - it redirects to the Blockchain Explorer.

[jl777]

WHY ARE PEOPLE AFRAID OF RIPPLE?

Because they think its something wrong with it?

Of course ripple isn't perfect, NXT isn't perfect, nothing is. If there are specific technical concerns, I can try to get an answer for it, I even have contacts within ripple labs. That does not make me a ripple controlled zombie.

I am not saying for everyone to use ripple. If you don't want to no need to. I just was really hurt by accusations by a couple of people against me for providing an alternative to dgex. Just because you don't like ripple, don't flame me. Fair enough?

James

P.S. I asked people to trade NXT/BTC, but the only real orderbook is NXT/XRP. What this means is that you need to look at the price of BTC/XRP which is around 31000 now, take reciprocal -> 0.000032258064516 per XRP, so 2 XRP is double that = ~.0000645, 3 XRP = ~.0000968
If you are not comfortable holding XRP, then as soon as you sell your NXT and have XRP you can simply send BTC directly to your bitcoin address using the Send page in ripple wallet. It will automatically covert XRP to bitcoin and make sure you confirm the exchange rate before sending. You will only have to taint your acct with XRP for a minute or two.

except that now it looks like BTC/XRP is around 34000 which gets us 0.0260588 and bids are at 2.20000 =0.05732936, and asks at 2.7 =0.07035876  

btc / ripple * current  right?

Close, but 1/34000 = 0.000029411764706, not .026
2.2 /34000 = 0.000064705882353 and 2.7/34000 = 0.000079411764706

James

[martismartis]

Bad luck, two times had a chance and both time didn't succeed. This is not bad luck, this is a my habitude
But question remains: if I don't need to restart java console, do I need only reload client side in browser? Because after this accident, recent blocks became with minus sign ant still minus quantity increases, looks like client lost the chain.

If the recent blocks became negative, it is a bug then. We haven't seen this bug recently and I thought it's gone, but apparently not. Next time this happens please report any errors from the console.
If reloading the page and restarting the browser isn't enough, then you also have to restart the java process indeed.

Jean-Luc, thank You for response. What do I need to change in web.xml, in order to have some log file, which will keep information of what is going with console process and saved on disk? I saw somewhere in this thread, but it was long time ago. Or it will be enough to you to have the snapshot of the running console window information inside?

[laowai80]

Just got this message:

Code:

2014-01-05 10:53:34.718:WARN:oejh.HttpParser:qtp23848942-15: badMessage: 400 Illegal character for HttpChannelOverHttp@1609ce6{r=0,a=IDLE,uri=-}

[bitcoinrocks]

Can I donate to this site owner so he can buy a domain name?

Use NXTblockchain.com - it redirects to the Blockchain Explorer.

nxtblockchain.com redirect to google.com for me.

[jl777]

I personally sent peercover the 100000 NXT to make sure all withdrawals would be covered since dgex at the time not responsive and no way to get real NXT transferred to peercover any other way. Sorry, nxtchg.com is not financed enough to be considered for large NXT exchange.

I spent full day during dgex created emergency so that NXT will have a place to trade. Remember it was not even working, simultaneously with src release. Strategically, it is unacceptable for there to be no way to trade NXT in large volumes. I sent XRP to fund people's accts and all of them returned back, showing the honesty of NXT'ers. People can and have traded NXT on ripple enabled by peercover. Peercover also has a direct trade page that allows for trading without using ripple wallet. Still need ripple acct.

However, for my efforts to create an alternative to dgex, I am accused of taking advantage of people somehow. dgex screws everyone and I am accused of bad faith? Covering 100000 NXT gives me super big advantage? I also was told to stop posting here, something I don't remember even yuriygeorge was told to do

As I reviewed the voting, I didn't find a single mention of the peercover solution, until CfB did.

Just wanted to let you know I appreciate your efforts.

WHY ARE PEOPLE AFRAID OF RIPPLE?

I can't speak for others, but I'd not bothered with Ripple before you mentioned it in connection to the Peercover gateway.

Figuring out how to use Ripple going from zero info, other than your postings, was interesting.

I set up a Ripple account and funded it with a small test amount by buying XRP from Justcoins.com.  The 1st hurdle was figuring out why my account wasn't being credited the 1k XRP I sent... turns out, I think, it was just a random problem in the Ripple network and I was able to fund the account on a second test try of 300 XRP about half a day later.  My first transfer was just a bad dice throw, so to speak.  Eventually, the failed 1k XRP transfer was re-credited to my Justcoins account, and I was able to send it to my Ripple wallet ok on the second try.

Once that was done, figuring out how to use the Ripple wallet for trading -- assigning trust and such -- took a little reading of FAQs.  While reading the FAQs, to gain a better understanding, I would often refer back to your postings here about Ripple.  I'm still not sure I have a good grasp of how trust is supposed to work.

Or, to put it another way, I'm still not sure I'm fully understanding how to do trades via Ripple.  Sure, I was able to execute a small test trade of 278 XRP for 100 NXT and then deposit that 100 NXT from Peercover via Ripple to my account.  

However the other test trades I made on Ripple didn't seem to do anything.  That may have been because my sell prices were too high and my buy prices too low, or I may be misunderstanding something else about how trades and trust are supposed to work... not sure.  I still have experimenting to do.

My slow move to Peercover's gateway is because I don't understand how to use Ripple well enough yet.  Maybe others are having the same sort of learning curve as well.

P.S. Has anybody checked whether the stolen NXT is in darkNXT accts? If it is darkNXT, then we can believe the thief but then the problem becomes that we misanalyzed the entire episode. darkNXT is the biggest threat to NXT right now, it must be fixed in all ways. I feel this 100000 ways.

I agree with you here, also.  I've been looking at the code, specifically how transactions are handled, but I'm still just coming up to speed on it.  I'm not a Java programmer.  I trust others who are more competent than I am are looking too.

If you are buying NXT, all you need is XRP and to make a buy offer. It gets onto the orderbook and when there is a matching seller, the trade is made.

If you want to sell NXT, you need to deposit NXT. In ripple before you can send anything to an account, that account has to have previously setup a trust line for that deposit amount. In ripple, it is virtually impossible to create darkANYTHING. This design choice leads to trust line complications, but never an issue with darkNXT. Once the trustline is setup, the gateway can successfully send you the deposited NXT. Peercover gateway is the only one I know that actually checks to make sure you have a proper trustline setup and makes sure you have it right before accepting deposits.

James

[jl777]

PLEASE just give me the respect that I feel I have earned and certainly more than the pre-pretty charts yuriygeorge!! PLEASE do not accuse me of being dishonest, that really hurts me.

Hope you haven't perceived my comments about giving people a 'Heads Up!', in regard to differences between trading NXT/XRP and NXT/BTC, as disrespectful.

Hi James, earlier I just suggested that you open a thread and introduce peercovers to newcomers at two main nxt forums: nxtcrypto and nextcoin. There many people want to get in NXT at an alternative exchange. There your efforts would be well spent. Here as much effort you spent on writing, it would be lost in the sea of pages after an hour.
You are of course welcome to write where you want but isn't that a good suggestion ? Thanks you for all your contributions so far.  

I can barely keep up with this thread. I doubt I will be able to manage monitoring other threads. I know, what if I get someone from ripple land to do that? Can I promise them they won't get flamed to death?

James

[SiFF]

exchange:
S3MKi
https://bitcointalk.org/index.php?action=profile;u=17..
https://bitcointalk.org/index.php?topic=345619.msg430..

videos:
pinarello
http://www.youtube.com/channel/UC-krT2yl3xjKM8-ZCHkge..
https://bitcointalk.org/index.php?action=profile;u=10..

[jl777]

Ricky can you. track down drexme as well?  He absconded with the nextcoin donation acct with 33k nxt in it

What the heck, I don't have enough time to do all the other stuff I gotta do, so sure, I'll take him on later next week.  One crusade at a time.  

My feeling is that we MUST verify if destination accts are darkNXT or not. If not, when were the keys for those accts created. Key forensic info, yes?

James

[utopianfuture]

PLEASE just give me the respect that I feel I have earned and certainly more than the pre-pretty charts yuriygeorge!! PLEASE do not accuse me of being dishonest, that really hurts me.

Hope you haven't perceived my comments about giving people a 'Heads Up!', in regard to differences between trading NXT/XRP and NXT/BTC, as disrespectful.

Hi James, earlier I just suggested that you open a thread and introduce peercovers to newcomers at two main nxt forums: nxtcrypto and nextcoin. There many people want to get in NXT at an alternative exchange. There your efforts would be well spent. Here as much effort you spent on writing, it would be lost in the sea of pages after an hour.
You are of course welcome to write where you want but isn't that a good suggestion ? Thanks you for all your contributions so far.  

I can barely keep up with this thread. I doubt I will be able to manage monitoring other threads. I know, what if I get someone from ripple land to do that? Can I promise them they won't get flamed to death?

James

I am sure Nxtcrypto forum would welcome the presence of Peercover exchange. Also, NxtChg exchange has operated an independent thread in Nextcoin so far without issues. There will certainly  be some haters but users in general would welcome an alternative exchange, imho. 

[greyw00lf]

can you give us ripple dummies a quick 1,2,3 step by step of getting USD/EUR/etc into the ripple network to buy XRP?  Then I assume it operated like a normal exchange from there?

I would recommend starting with BTC and NXT.  There are plenty of fiat gateways (including peercover) but with the usual paperwork delays.

Step 1: create ripple acct
Step 2: post your ripple address and I will send you 30 XRP
Step 3: goto simpleGateway and deposit BTC (need to add trustline for this)
Step 4: goto ripple wallet trade page and select NXT/BTC with peercover ra9eZxMbJrUcgV8ui7aPc161FgrqWScQxV as issuer
Step 5: enjoy frictionless trading by submitting buy and sell orders

James

P.S. Step 6, send me back my 30XRP or .001 BTC or 10NXT

Hey James, i really want to try simpleGateway, can you give a more detailed step-by-step-guide for trading BTC <-> NXT? With links and all? How exactly to deposit BTC? Are they gonna be aotomatically transferred to XRP?

Also i have some LTC and i saw that on the simpleGateway i could deposit LTC too? How is that done?


Edit: I'm at step 2 now - my ripple-address is r3mVGEhSxiMt8GdVfKgeC3tkw9jRPWCaNP

[salsacz]

Nxt Myths Questionnaire

Friends, please, fill in this very short Questionnaire about Nxt myths, it takes only 60 seconds:

https://docs.google.com/forms/d/1ksk6tgs6gfrYZLd30NWQw3VfrTkKavHPHlxvnV0sD1E/viewform

Thank you a lot, it will be used for my Nxt video project

27 people already shared their opinions about Nxt myths. Others are still welcome

[opticalcarrier]

Ricky can you. track down drexme as well?  He absconded with the nextcoin donation acct with 33k nxt in it

What the heck, I don't have enough time to do all the other stuff I gotta do, so sure, I'll take him on later next week.  One crusade at a time.   

Really, I thought he handed the donation fund to Opticalc.  I know because he sent my 25k back to me.  Also, Drexme was extremely helpful with getting the client up and running for me and others, he seemed like a pretty honest person.

Heres the whole story:

Well what happened is that Drexme got all hot and heavy here on both forums for NXT, and in his enthusiasm he created the donation account and the giveaway thread.  I pretty much completely stayed out of all that and did other forums duties, and even gave 2500 of my own NXT to the donation account. (see 2500 sent to the donation account 7161646874450697154 on Dec 6)

So anyway, all of a sudden he decided to bail on us (for dogecoin, of all things, I believe he started the www.dogecoin.com site), and so I asked him for that donation accounts passphrase since he was leaving.  Then I just didnt have time to deal with the TONS of beggars etc since I was concentrating on my public nodes, admin duties in this forum, and working on my coinbase article submission, as well as trying to 100% keep up with this long thread on BCT.org.  Add to all that a girlfriend with constant sexual demands... So I just deleted the giveaway thread to get some relief and just let that donation account sit until I could figure out what to do with it.  Well, actually I did send some NXT back out to one of the donors who asked for it back.  Cant remember who it was .  It was a pretty big amount though, in proportion to the acct balance,, you can see it in there, a fairly large amount was sent out that was equal to a fairly large amount that was sent in, to the same accounts.  (minus fees)

Then Lynxx asked about it and I was like "great, I can just han off all these donation acct duties off on him" but I forgot about it with the rush of Christmas and all the other VPS stuff.  Then I remembered about it and checked the account and immediated posted here about drexme being a thief. (maybe a bit premature but I panicked b/c I had just promised lynxx tto hand it over to him but then realized it was an almost empty acct)

So Graviton (GCInc) and I exchanged some messages (I also attempted to contact Drexme here and on nextcoin but never heard from him) and G confirmed to me that the NXT account that cashed out the donation fund was Drexme's acct.  G did apparently get hold of him and relayed Drexme's story to me and it was something along the lines of "oh yeah I took the NXT to invest in some other stuff and I was gonna use the proceeds for another giveway next week" or some crap like that.  I can only guess that he figured due to me just letting it sit that we all forgot about the account and so he took it then came up with that lame story when G asked him.  But of course we cant prove his intentions.  The thing is, neither can he, and my position is that an honest person wouldnt have donee any of that without telling someone, especially since he DID send me a PM on BCT.org asking us to remove his admin/mod privileges.

So all in all, just very odd that someone who had been so helpful, all of a sudden did that.  As far as Im aware, Graviton hasnt heard anything else from Drexme either.

[EvilDave]

Ricky can you. track down drexme as well?  He absconded with the nextcoin donation acct with 33k nxt in it

What the heck, I don't have enough time to do all the other stuff I gotta do, so sure, I'll take him on later next week.  One crusade at a time.  

My feeling is that we MUST verify if destination accts are darkNXT or not. If not, when were the keys for those accts created. Key forensic info, yes?

James

+1
If the stolen NXT turn out to be darkNXT, then EpicThomas is just the worlds most unlucky hacker/thief, but if they are in activated accounts then Marshal Ricky has probably got more work to do: either setting the Federales on ET or tracking down some more badguys to round up.

And if the earlier thefts/incidents (ie from before ET set up the poisoned client) turn out to be darkNXT'ed and not stolen, we only have a bug to deal with, not an unknown exploit with someone siphoning account funds.

@rickyjames: good work, mate. Love the accent, btw.
 

 

[^[GS]^]

Can I donate to this site owner so he can buy a domain name?

Use NXTblockchain.com - it redirects to the Blockchain Explorer.

nxtblockchain.com redirect to google.com for me.

me, too!

[joefox]

BOUNTY VOTE UPDATE
(CONTEXT:  https://bitcointalk.org/index.php?topic=345619.msg4304977#msg4304977)

I have updated the bounty votes spreadsheet to include all votes up to post 14728:

https://docs.google.com/spreadsheet/ccc?key=0AkfSNgBIzmvXdC1GYXE0QkpyY3lROFhXWTZSamNVVGc&usp=sharing#gid=0

NOTE:  *I am not editorializing* -- just tallying votes as submitted.  

• If people don't know that someone is being paid/compensated and submitted a vote for that person anyway, I did NOT censor
• I also did not censor if people's idea of what fits in what category was muddled in some cases
• I HAVE tried to locate links to profiles/projects where those were not submitted along with votes
• Lots of people nominated themselves.  I did not censor those votes either.

I do not feel comfortable asserting "editorial" authority over the tally -- it's CfB/BCNext's leftover bounty fund, not mine.

All I did here was tally votes to help save folks time!

[pinarello]

Can I donate to this site owner so he can buy a domain name?

Use NXTblockchain.com - it redirects to the Blockchain Explorer.

nxtblockchain.com redirect to google.com for me.

me, too!

The owner of this alias have to set http://blockchain

other it wont work

Pin