NXT :: descendant of Bitcoin - Updated Information

[Passion_ltc]

Did you know that Nxt users are also from Jamaica, Iceland or Ethiopia?

But there are no nodes there it seems.
http://peerexplorer.com/

[1714679556]

1714679556

[subSTRATA]

Ermm why is my node uploading way more data than downloading? It is like that constantly.

same for me - looks like the columns were switched, didn't pay attention until now...
anyone else?

Could someone please answer our questions? Is it merely a bug somewhere or it is normal D:U ratio is 1:50+ ?

[BaiMangal]

Is anyone going to become a gateway between NXT and fiat when Asset Exchange is launched? That would be interesting to know how trust issue is planned to be resolved.

PS: Rewards will be given to 3 best implementations.

We have been waiting to see the Exchange functionality. We are ready with the legal stuff for opening a gateway in Bulgaria and working on legality for Ireland.
Not posting cause we want a reward just as to express out interest. Obviously will not say no to an eventual reward

[utopianfuture]

Is anyone going to become a gateway between NXT and fiat when Asset Exchange is launched? That would be interesting to know how trust issue is planned to be resolved.

PS: Rewards will be given to 3 best implementations.

We have been waiting to see the Exchange functionality. We are ready with the legal stuff for opening a gateway in Bulgaria and working on legality for Ireland.
Not posting cause we want a reward just as to express out interest. Obviously will not say no to an eventual reward

BaiMangal, this would be great. I do expect some of the first implementations not coming from U.S. There are just so much red tape going on here.

[subSTRATA]

Today I needed to restart client and java process 4 times. F5 doesn't help. client is 0.5.0. In command prompt windows sometimes  are errors, sometimes not. After last crash and after F5, client gives "java.lang.NullPointerException" error after entering password. Something weird. Checked task manager, java uses 500 MB of memory after last time client crashed. No errors in command prompt window.

Happened the same to me. 3 times in a row today.

I had even worse issue, namely first my Firefox started freezing because orphans.html or something like that (script) was taking
too long to execute. I let it continue few times but than all coins on my account vanished. No incoming or outgoing transactions
at all! OK, restart everything, no change. Restart computer, no change. So I installed 0.5.1 and deleted everything in NXT folder,
so far everything works correctly.

Windows 0.5.1 client:

https://nextcoin.org/index.php/topic,2041.0.html

"Before upgrading your client, please backup the files blocks.nxt and transactions.nxt!!" IGNORE, I had to delete those files else
there was no change, e.g. I was missing all my coins!

[qube26]

Hi,

I think some of people are playing on price to downward it. I was checking and even there were above buy order the price given by me, the buy order was complete. They sold it with quick sell.

[laowai80]

Bullish news for NXT, especially the Assets Exchange feature when it's implemented:

https://bitcointalk.org/index.php?topic=403499.0

[LiQio]

Recent blocks [-2920]

Code:

[2014-01-07 17:17:37.372] Generated an incorrect block. Waiting for the next one...
[2014-01-07 17:17:38.228] Re-scanning blockchain...

Did you try reloading the page in the browser, or you had to restart java process to fix it?

No other errors in the log (except the usual jetty warning exceptions)?

Jean-Luc, like to report, had it again - did a refresh and waited a bit longer this time.

java console displays

Code:

[2014-01-07 15:15:08.995] Generated an incorrect block. Waiting for the next one
...
[2014-01-07 15:15:17.713] Generated an incorrect block. Waiting for the next one
...
[2014-01-07 15:15:32.307] Re-scanning blockchain...
[2014-01-07 15:15:51.448] Generated an incorrect block. Waiting for the next one
...

it looks like it catched up now, I see:
35168      4747512364439223888      7. Jan. 2014 15:26:13   
11      6'998 + 12      1'416 B   
2      5716360880337650150      247 %


But balance is wrong, the one in web-gui is too high and not the same as the correct one I get when issuing request: http://localhost:7874/nxt?requestType=getBalance&account=xxx

[brooklynbtc]

Ermm why is my node uploading way more data than downloading? It is like that constantly.

same for me - looks like the columns were switched, didn't pay attention until now...
anyone else?

Could someone please answer our questions? Is it merely a bug somewhere or it is normal D:U ratio is 1:50+ ?

your node uploads more because it is steady and constant. all the clients that come and go and redownload the blockchain are leeching from you. If you stay online, and synced, you will only be downloading the new blocks as they are generated, tiny, but being a public node, you will also share those same blocks 100 or a 1000 times over

[NxtChg]

If one were truly committed to creating a NXT/Fiat gateway... the best way to go would be through a Belize International Business Company (IBC) that is owned by a Belize Trust.

Here is how you do it:

a. You create the Belize Trust (Trustees, Beneficiaries, etc.)
b. The Trust incorporates the IBC; thus the Trust is the owner of the IBC and not the beneficiaries of the Trust.
c. IBC creates a business presence online (website, NXT Asset Exchange gateway, etc.)
d. All bank, merchant, exchange, etc. accounts are opened by the IBC.
e. Belize bank account is in $.
f. The physical address associated with all accounts is the corporate address of the IBC.
g) There is NO TAX for income earned from IBCs outside Belize.

You are looking at $1500-2000 to set this up and around $1000 yearly expenses to renew the Belize contracts.

And YES... it is all COMPLETELY LEGAL!!!  

Bookmarking...

[landomata]

Maybe we could create an asset organisation in some exotic liberal country? Would you pay me for living in Seychelles or in Panama?

If one were truly committed to creating a NXT/Fiat gateway... the best way to go would be through a Belize International Business Company (IBC) that is owned by a Belize Trust.

Here is how you do it:

a. You create the Belize Trust (Trustees, Beneficiaries, etc.)
b. The Trust incorporates the IBC; thus the Trust is the owner of the IBC and not the beneficiaries of the Trust.
c. IBC creates a business presence online (website, NXT Asset Exchange gateway, etc.)
d. All bank, merchant, exchange, etc. accounts are opened by the IBC.
e. Belize bank account is in $.
f. The physical address associated with all accounts is the corporate address of the IBC.
g) There is NO TAX for income earned from IBCs outside Belize.

You are looking at $1500-2000 to set this up and around $1000 yearly expenses to renew the Belize contracts.


And YES... it is all COMPLETELY LEGAL!!!  
 

GREAT IDEA

1) So the USD would be deposit to this account...by wire transfer or western union etc...

2) to withdraw USD IBC would wire money to the recipient...so they will still be wiretransfer delays & fees

 Edit: would this require serious manpower?

[BitWalker1]

Hi, sorry for a newbie question!

I have just startet to explore Nxt a little, downloaded and installed version 0.4.8,
bought some Nxt to have something to play with (I have 558 NXT),
and now I have the wallet open and running since about 3 days (localhost:7875).

Currently it shows active peers=131, recent blocks=2588 and my question now is:
Why the number of days telling me when I can generate the next block is jumping up or down all couple of minutes?
It startet first telling me in 5 days, later in 144, then about 500, later about 300, back to 90 ...
currently it shows in 114 days 12 hours ...

From what it depends on?

Cheers,
BitWalker

[Jean-Luc]

Recent blocks [-2920]

Code:

[2014-01-07 17:17:37.372] Generated an incorrect block. Waiting for the next one...
[2014-01-07 17:17:38.228] Re-scanning blockchain...

Did you try reloading the page in the browser, or you had to restart java process to fix it?

No other errors in the log (except the usual jetty warning exceptions)?

Jean-Luc, like to report, had it again - did a refresh and waited a bit longer this time.

java console displays

Code:

[2014-01-07 15:15:08.995] Generated an incorrect block. Waiting for the next one
...
[2014-01-07 15:15:17.713] Generated an incorrect block. Waiting for the next one
...
[2014-01-07 15:15:32.307] Re-scanning blockchain...
[2014-01-07 15:15:51.448] Generated an incorrect block. Waiting for the next one
...

it looks like it catched up now, I see:
35168      4747512364439223888      7. Jan. 2014 15:26:13   
11      6'998 + 12      1'416 B   
2      5716360880337650150      247 %


But balance is wrong, the one in web-gui is too high and not the same as the correct one I get when issuing request: http://localhost:7874/nxt?requestType=getBalance&account=xxx

That's good, so we are on the right track. The server has rescanned the blockchain and knows the correct balances, now I need one more fix to have the GUI updated too.

[Passion_ltc]

Hi, sorry for a newbie question!

I have just startet to explore Nxt a little, downloaded and installed version 0.4.8,
bought some Nxt to have something to play with (I have 558 NXT),
and now I have the wallet open and running since about 3 days (localhost:7875).

Currently it shows active peers=131, recent blocks=2588 and my question now is:
Why the number of days telling me when I can generate the next block is jumping up or down all couple of minutes?
It startet first telling me in 5 days, later in 144, then about 500, later about 300, back to 90 ...
currently it shows in 114 days 12 hours ...

From what it depends on?

Cheers,
BitWalker

From how many other guys have their client forging.

[utopianfuture]

Maybe we could create an asset organisation in some exotic liberal country? Would you pay me for living in Seychelles or in Panama?

If one were truly committed to creating a NXT/Fiat gateway... the best way to go would be through a Belize International Business Company (IBC) that is owned by a Belize Trust.

Here is how you do it:

a. You create the Belize Trust (Trustees, Beneficiaries, etc.)
b. The Trust incorporates the IBC; thus the Trust is the owner of the IBC and not the beneficiaries of the Trust.
c. IBC creates a business presence online (website, NXT Asset Exchange gateway, etc.)
d. All bank, merchant, exchange, etc. accounts are opened by the IBC.
e. Belize bank account is in $.
f. The physical address associated with all accounts is the corporate address of the IBC.
g) There is NO TAX for income earned from IBCs outside Belize.

You are looking at $1500-2000 to set this up and around $1000 yearly expenses to renew the Belize contracts.


And YES... it is all COMPLETELY LEGAL!!!  


 

Interesting. Another way to fight the red-tape. Aside the credibility issue, this Belize Trust is a centralized entity so basically we go through a centralized party to be able to implement a decentralized exchange idea. Talk about irony

[superresistant]

Maybe we could create an asset organisation in some exotic liberal country? Would you pay me for living in Seychelles or in Panama?

If one were truly committed to creating a NXT/Fiat gateway... the best way to go would be through a Belize International Business Company (IBC) that is owned by a Belize Trust.
Here is how you do it:
...

Oh yes. Someone must do it asap. NXT will skyrocket.

[laowai80]

There are laws in place to curb flight of capital to foreign shores.

[subSTRATA]

Today I needed to restart client and java process 4 times. F5 doesn't help. client is 0.5.0. In command prompt windows sometimes  are errors, sometimes not. After last crash and after F5, client gives "java.lang.NullPointerException" error after entering password. Something weird. Checked task manager, java uses 500 MB of memory after last time client crashed. No errors in command prompt window.

Happened the same to me. 3 times in a row today.

I had even worse issue, namely first my Firefox started freezing because orphans.html or something like that (script) was taking
too long to execute. I let it continue few times but than all coins on my account vanished. No incoming or outgoing transactions
at all! OK, restart everything, no change. Restart computer, no change. So I installed 0.5.1 and deleted everything in NXT folder,
so far everything works correctly.

Windows 0.5.1 client:

https://nextcoin.org/index.php/topic,2041.0.html

"Before upgrading your client, please backup the files blocks.nxt and transactions.nxt!!" IGNORE, I had to delete those files else
there was no change, e.g. I was missing all my coins!

But then it went crazy again, what is happening?

[NxtChg]

Edit: would this require serious manpower?

They do have online banking there, you know

[landomata]

There are laws in place to curb flight of capital to foreign shores.

something along the lines of Localbitcoin....could get around this capital flight thing...if the fiat doesn;t leave the country then its not really capital flight.