NXT :: descendant of Bitcoin - Updated Information

[nxtgt]

I'm finally out of dgex.com (still had BTC in the account, bought NXT and got them out after "just" two days) and I am out of buying and selling NXT as long as there is no alternative exchange. (Please no Peercover/Ripple/Private Escrow follow-ups... Thank you.)


Allow me some final words regarding dgex.com.

1.) GCInc, thanks a lot for your service over the last weeks. I think the dgex exchange was very important for NXT and you did a good and brave job with setting it up and running it.

2.) GCInc, you are a thief. You've just stolen around US$20 from me and the service you provided for me over the last weeks is worth more than US$20, but still you are thief. It feels like a friend asked you to borrow some money from you and when he pays back, he tells you that he changed his mind and only pays you back 99% of what you borrowed him. You totally lost credibility with your move to change the fees without previous notice, thus I am out of dgex until its under new management.

3.) I came for the quick profit - I stay because of the very cool community. With this NXT community there were other ways to "cover your ass". While you still had a reputation for what you've done for NXT you had a good chance to explain why you lost 800.000 with your exchange and ask for help from the community. After following here over the last weeks, I am convinced you would have gotten help from us.

4.) "Third in command"? This is a PR disaster... Unfortuntely, your way of managing dgex and answering only questions that you think you have good answers for makes me fear that this is in fact how you see yourself. I don't want to make business with you having the feeling that you are the boss and not that were a business partners.

5.)

Will you commit to announcing ahead of time any fee INCREASES?

This fee increase was a mistake, yet seemed like the only option. I had to cover my ass in case the source release had exploded the price 3x...4x... god knows how much, every percent tightening the deficit rope around my neck more and more.

Well, nobody else jumped onto this, but this was the point when all (remaining) alarm bells began to rang. What you basically said was that we have an exchange that is run in a way to have a NXT market value that the exchange owner is comfortable with. WTF??? So, because you still have 800.000 NXT missing you have an interest in low market values and you actually run the exchange in your interest. This is just beyond me... And it is totally beyond me that anyone still uses dgex after your sentence above.

What scares me the most of this situation is that there is 75 million of peoples Nxt sitting in this dgex reserve account: http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=12292439833850569026

Do I understand properly that this is a secondary account for dgex deposits made to the main account? Frightening to think that this type of person has control over 7.5% of the coin cap.

To be fair, it should comfort you to know that the exchange is well capitalised and, thus, won't default on your deposits.

its not as bad as it seems at first. the whole security model of nxt relies on the currency being not overly centralized. if dgex were to run off with 7.5% of all of the coins they would actually destroy the value of those coins in the process. meaning there is not a lot of incentive for them to do it.

Take this piece of text from the dgex user agreement into consideration before making such conclusions.

"Once a deposit is made, the funds transferred become the property of DGEX.com and
    the client can hold no claim for the funds displayed on their DGEX.com account..."


   "Refund Policy: While DGEX.com is aiming for bona fide operationability, there are no refunds.
   All deposits are considered final purchases of digital tokens within the DGEX.com database only."

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[utopianfuture]

Bug report:

I have a bug when sending out money, twice in a row. The transactions still went though but the server stopped working and the send money command never moved to "money is sent" stage.

[rickyjames]

BCNext = Beyonce comes Next = Come from Beyonce ??

solved...

U could ask rickyjames to find BCNext and ask who he is...

Some things in life are better left with an air of mystery about them.

[EmoneyRu]

Bug report:

Registered alias via alias.html
Filled fields. Pressed button. Button disabled. Wait. Wait. Button enabled. No text in bottom text field appeared.

What should I do?

[jl777]

Peercover has completed manually fixing all the transactions.
To my knowledge, only three slipped through the cracks.
They are running 0.5.3 now, so hopefully it will remain in fully automated mode.

HOWEVER, I have been advised that for the next week, they won't be able to manually reconcile transactions. IF the NXT server crashes, you will have to wait until next week. I know this is not exactly comforting, but the NXT that is already on deposit can be freely traded without any fees or commissions. All the trades are done via the rippled servers, the only thing affected is the automated deposit/withdraw process for NXT.

Please be patient.

If you really, really need to get your NXT withdrawn or really really want to deposit your NXT, I can personally handle transactions of up to 10000 NXT. Just PM me.

I really hope we can all be patient as peercover regroups to deal with things. As long as 0.5.3 server doesn't hang, all is good.

James

[Come-from-Beyond]

Bug report:

I have a bug when sending out money, twice in a row. The transactions still went though but the server stopped working and the send money command never moved to "money is sent" stage.

What was the error message in the console?

[EmoneyRu]

Bug report:

Registered alias via alias.html
Filled fields. Pressed button. Button disabled. Wait. Wait. Button enabled. No text in bottom text field appeared.

What should I do?

I would wait for at least ten blocks to see if a transaction appears in that account.

Edit: This just happened to me too... I got a transaction number for the alias assignment... but nothing has appeared in the Block Explorer yet.

I know, I know. And we know that

Most mainstream users just like what are friendly and easy to use.

[utopianfuture]

Bug report:

I have a bug when sending out money, twice in a row. The transactions still went though but the server stopped working and the send money command never moved to "money is sent" stage.

What was the error message in the console?

I already restarted the client. Sorry to ask it again but How to record a log in Window ?

[Come-from-Beyond]

Bug report:

Registered alias via alias.html
Filled fields. Pressed button. Button disabled. Wait. Wait. Button enabled. No text in bottom text field appeared.

What should I do?

I would wait for at least ten blocks to see if a transaction appears in that account.

Edit: This just happened to me too... I got a transaction number for the alias assignment... but nothing has appeared in the Block Explorer yet.

I know, I know. And we know that

Most mainstream users just like what are friendly and easy to use.

An easy fix would be to extend 15 sec gap for transaction timestamp... If a timestamp is more than 15 sec in the future, the transation is ignored.

[Come-from-Beyond]

Bug report:

I have a bug when sending out money, twice in a row. The transactions still went though but the server stopped working and the send money command never moved to "money is sent" stage.

What was the error message in the console?

I already restarted the client. Sorry to ask it again but How to record a log in Window ?

[Alt] + [PrintScreen]

[NxtChoice]

Bug report:

Registered alias via alias.html
Filled fields. Pressed button. Button disabled. Wait. Wait. Button enabled. No text in bottom text field appeared.

What should I do?

I have encountered it at least 5 times.

[EmoneyRu]

Bug report:

Registered alias via alias.html
Filled fields. Pressed button. Button disabled. Wait. Wait. Button enabled. No text in bottom text field appeared.

What should I do?

I would wait for at least ten blocks to see if a transaction appears in that account.

Edit: This just happened to me too... I got a transaction number for the alias assignment... but nothing has appeared in the Block Explorer yet.

I know, I know. And we know that

Most mainstream users just like what are friendly and easy to use.

An easy fix would be to extend 15 sec gap for transaction timestamp... If a timestamp is more than 15 sec in the future, the transation is ignored.

U just have to convince the community that it's a useful feature and find someone who will write the code.

[Come-from-Beyond]

We can't just extend 15 sec limit. Node owners will stop watching their clocks and the network will become vulnerable to time travel attacks.

[EmoneyRu]

Any ways to speed up block generating? Maybe target manipulating?

http://www.links.org/files/decentralised-currencies.pdf

Beyonce posted this a while back... Are there any discussions on bitcointalk about it?

I finally read that paper

[Ebrelus]

If there are some accounts with substancial amounts of NXT which are nobody's property and have weaker passwords than maybe we could create special thread to organise group cracking.

I'm sure a lot of people would like to use script/program to make such group brute force treasure hunting
It could be constructed in similar way as altcoins pool mining with system of distribution f.e. lucky one would get half of found NXTs and the rest of could get proportional part of other half. Also it could be a simple solo treasure hunting.

This would be great for increasing NXT community and would be simply fun. In future because of growing amounts of NXT's lost in void it would become even more successful. What do you think about it?

I would love to have a group like this exist. It would really show how difficult (or easy ) it is to crack a NXT account.

I would gladly raise a funding for a project like this even just for research purpose.

I would consider that to be morally wrong, at least trying to crack private keys for weak passphrases.  However, the hiberNXT on the other hard where there are no published public keys are another story.

You made a good point. Someone's acount can also have weak password.
But isn't there any difference between passwords locking common users accounts and these unused with NXTs sent there by mistake? Isn't it different format of password like random string + ending with string of zeros?
If there is a difference we can simply create a standard for treasure hunting of only these lost NXTs.

[EmoneyRu]

Any ways to speed up block generating? Maybe target manipulating?

http://www.links.org/files/decentralised-currencies.pdf

Beyonce posted this a while back... Are there any discussions on bitcointalk about it?

I finally read that paper

I have a better question: if I hardcode 136941 first blocks and run it at single node will my chain win? Why not?

[opticalcarrier]

If there are some accounts with substancial amounts of NXT which are nobody's property and have weaker passwords than maybe we could create special thread to organise group cracking.

I'm sure a lot of people would like to use script/program to make such group brute force treasure hunting
It could be constructed in similar way as altcoins pool mining with system of distribution f.e. lucky one would get half of found NXTs and the rest of could get proportional part of other half. Also it could be a simple solo treasure hunting.

This would be great for increasing NXT community and would be simply fun. In future because of growing amounts of NXT's lost in void it would become even more successful. What do you think about it?

I would love to have a group like this exist. It would really show how difficult (or easy ) it is to crack a NXT account.

I would gladly raise a funding for a project like this even just for research purpose.

I would consider that to be morally wrong, at least trying to crack private keys for weak passphrases.  However, the hiberNXT on the other hard where there are no published public keys are another story.

You made a good point. Someone's acount can also have weak password.
But isn't there any difference between passwords locking common users accounts and these unused with NXTs sent there by mistake? Isn't it different format of password like random string + ending with string of zeros?
If there is a difference we can simply create a standard for treasure hunting of only these lost NXTs.

As CfB said, its to allow future recovery of "lost" NXT in the future. "Lost" as in someone mistakenly sent NXT to the wrong address that doesnt yet exist.

So basically, CfB and BCNext are here to tell you that that was the plan all along, and that EVERYONE is advised to secure all accounts by paying for at least 1 transaction/alias.

CAUSE IM COMING FOR YOUR HIBERNXT WITH MA CURVE25519 ASIC IN 2015

[utopianfuture]

If there are some accounts with substancial amounts of NXT which are nobody's property and have weaker passwords than maybe we could create special thread to organise group cracking.

I'm sure a lot of people would like to use script/program to make such group brute force treasure hunting
It could be constructed in similar way as altcoins pool mining with system of distribution f.e. lucky one would get half of found NXTs and the rest of could get proportional part of other half. Also it could be a simple solo treasure hunting.

This would be great for increasing NXT community and would be simply fun. In future because of growing amounts of NXT's lost in void it would become even more successful. What do you think about it?

I would love to have a group like this exist. It would really show how difficult (or easy ) it is to crack a NXT account.

I would gladly raise a funding for a project like this even just for research purpose.

I would consider that to be morally wrong, at least trying to crack private keys for weak passphrases.  However, the hiberNXT on the other hard where there are no published public keys are another story.

You made a good point. Someone's acount can also have weak password.
But isn't there any difference between passwords locking common users accounts and these unused with NXTs sent there by mistake? Isn't it different format of password like random string + ending with string of zeros?
If there is a difference we can simply create a standard for treasure hunting of only these lost NXTs.

There is a difference between black hat and white hat hackers. We can try to hack even normal accounts, not to take the money away but to inform the owner and also raise the awareness about the security issue. I think it is normal procedure for security firm to invite or hire white hat hackers to hack their system to see if there is any compromise.

[Come-from-Beyond]

You made a good point. Someone's acount can also have weak password.
But isn't there any difference between passwords locking common users accounts and these unused with NXTs sent there by mistake? Isn't it different format of password like random string + ending with string of zeros?
If there is a difference we can simply create a standard for treasure hunting of only these lost NXTs.

If u use SHA256(Curve25519(Random256Bits)) instead of SHA256(Curve25519(SHA256(RandomChars))) to hack the accounts then u still will be a good guy.

[Isildur23]

I just read 300+ pages of Come-from-Beyond's posts I'm freak I know...(actually was quite fun cause very often you are not sure if he is serious or he is trolling trolls )
I have to say though that I found in his posts more valueable info than anywhere else! I think anyone who does this will feel much more confident about NXT!
p.s. I hope he doesn't say now "Thank you for your frictionlesscoin competent opinion"