NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

Although sendMoney in a thin JS client would be pretty cool. I wonder if anyone is working on that.  

This is why 100K bounty for JS implementation of sign/verify was offered.

This is stupid not to be done already this is super easy!!!!! It is basically free money! After the exchange I will look at this or the decenteralised exchange idea, depends on when arb messaging will be added.

One problem - it should be very fast.

[1715284342]

1715284342

[1715284342]

1715284342

[swartzfeger]

chinese text revision:

The name of NXT has changed from 未来币 to 纳克斯特币. As stated in my previous post, 未来币 ("future coin") is now being used by another alt launched in China.

The new name 纳克斯特币 (recommended by George) "is a conventional translation from English to Chinese and it sounds pretty cool in Chinese. It is from the pronunciation of NXT."

Two more lines have been added to section 3. Messaging/voting (Miramare) and transparent forging (George). He stated the transparent forging bullet point is clarified as being 'low cost' (in contrast to the heavy reliance on hardware with other cryptos).

jpg preview:



full-size pdf link

[Come-from-Beyond]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC. 
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale. 

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

[pinarello]

please come discus important matters such as what with unclaimed coins

and how to implement voting system

https://forums.nxtcrypto.org/viewtopic.php?f=2&t=530

https://forums.nxtcrypto.org/viewtopic.php?f=54&t=529#p2203

There should be a topic like this on nextcoin.org also.

Pin

[swartzfeger]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC.  
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale.  

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

Ok, this is interesting.

Basically:

"I have key information that will kill eMunie and secure NXT's place as Bitcoin's successor if you give me 250,000 NXT."

My quick thoughts after a long, 12 hour shift at work --

Fuck off.

Seriously, NXT isn't a retarded coin that needs subterfuge to kill off a competitor. The features of NXT will take us to the top, not some 'inside information' that must be purchased surreptitiously.

Competition is good. eMunie is either gonna make us look like geniuses because it bombs, or light a fire under our ass because it's a compelling crypto (probably somewhere in-between).

[Anon136]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

[martismartis]

Client 0.5.5. It happens again:

2014-01-11 21:15:53.088:INFO:oejs.ServerConnector:main: Started ServerConnector@
621fb2b9{SSL-http/1.1}{0.0.0.0:7875}
[2014-01-12 09:24:45.048] Generated an incorrect block. Waiting for the next one
...
[2014-01-12 09:25:18.897] Re-scanning blockchain...
[2014-01-12 09:25:48.117] ...Done
[2014-01-12 10:28:58.823] Generated an incorrect block. Waiting for the next one
...
[2014-01-12 10:29:28.174] Re-scanning blockchain...
[2014-01-12 10:29:47.702] Generated an incorrect block. Waiting for the next one
...
[2014-01-12 10:29:48.707] Generated an incorrect block. Waiting for the next one
...
[2014-01-12 10:29:57.651] ...Done

I'm running my server and client from the end of December, 24/7. In this period I had many chances to forge blocks, but no one with success. Is it normal behaviour of my server?

P.S. After this error appears, there were minus recent blocks, a lot of unconfirmed transactions. F5 solved it, I didn't need to restart everything.

[pandaisftw]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC. 
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale. 

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

[pinarello]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

creating more eMunie is in the code, but how that code looks like nobody knows.

50% goes straight away to hatchers

https://bitcointalk.org/index.php?topic=404431.msg4431243#msg4431243

Pin

[demols]

I need a little advice: How can we calculate a daily cost of Nxt web?

Something like:
number of peers x watts of the average computer? and transfer kW in Dollars?

Do we know a number of forging computers?

I do a simple calculation for you as following:

Say 10, 000 nodes in the network for Nxt, as you know there are about 10,000 accounts.

Say each node is a Pi, say each pi consumes 10Watts, so total 100kW, it's 2400 kWh, which is just $600 a day with $0.25 per kWh.

Say each node is a server with 500 Watts, that's 50 times of the above calculation, so it is about $30,000 a day.

So I predict a total power consumption is in the range of $600 ~ $30,000 a day, and most probably below $10000.

Wow, that's the most efficient system in the crypto currency world.


Edit: go on a simple calculation of the price for Nxt. Presently a day's tx fee is ~ 5000 Nxt, if it should cover the power consumption, that is, $600/5000 ~ $30,000/5000, so the Nxt price in the range $0.12 ~ $6.

Yeah, my pricing for Nxt is $0.12 ~ $6.

But there are 300 nodes, not 10k:

http://peerexplorer.com/

donate(1), 22k(3), 22k.io(66), BEER(1), CentOS(2), FreeBSD(1), linux(6), NCC-1701-D(1), NCC-1864(1), nxt.now.im(12), nxt86(2), PC(121), PC BaiMang...(2), PC-2212(1), Raspberry(1), RaspNXT(1), Rpi(1), RPi Solari...(1), SPARC(1), strawberry(1), Unknown(43), VPS(17), xrp.pw/nxt(1):

(4+66+1+1+12+2+43+17+1)x20W = 3kW
+
(2+6+1+1+121+2+1+1+1+1+1+1+1)x5W = 0.7kW

= 4kW

24(hours)x4(kW)x0.15/kWh = 14 USD

A Raspberry Pi only uses 2W at most:  400ma @ 5V.  This has to come from a power supply that has some conversion efficiency of 50-80% or so.  Let's be conservative and say we're using a 50% efficient wall plug transformer.  Then each Raspberry is using 4W of wall power to generate the 2W it actually needs to run.  Say electricity is $0.15 per kWh.  Then in a year of 365*24 = 8760 hours, a single Raspberry Pi is going to use 8760 * 4 = 35,040 watt-hours or 35 kWh per year costing 35 * 0.15 = $5.25 of electricity per year.  

Thus the power to run a Pi is thus real but pretty negligible in the overall cost picture.  You can run 25 Pis nonstop for a solid year for the same amount of juice required to leave a 100W incandescent bulb on day and night for a year.

As a reasonable estimate, a single Pi costs around $120 as capital outlay to set it up for a year of service as an NXT node:  $35 for the Pi itself; $30 more for the memory card, cables, cluster support gear, etc; $ 5 for a year's worth of power; and say $50 per year (around $2 / mo) to park it in a server farm.  A network of 300 Pis thus costs $36,00 to set up and run for a year (of which $15,000 per year or $1250 per month is "office rental" and "human tech support" and "internet bandwidth").  

If there are truly 5000 NXT per day generated in transaction fees as assumed above, that's 365*5000 = 1,825,000 NXT per year.  If you are using 300 Pis at $36,000 per year to capture ALL those transaction fees, you are spending $36,000 / 1,825,000 NXT = $0.02 per NXT or around 2 pennies per NXT to capture the NXT using Raspberry Pis.  At 0.00005 BTC/NXT and $800/BCT, a NXT is currently worth $0.04 cents.  

Rough ballpark estimate: Capturing NXT with Raspberry Pis could double your money in a year at current NXT prices.  The Raspberry cost is fixed; the ROI gets better and better the higher and higher NXT goes.

http://coen.boisestate.edu/ece/files/2013/05/Creating.a.Raspberry.Pi-Based.Beowulf.Cluster_v2.pdf

I seem to recall that people are setting up VPSs for around $20 per month or $240 per year, which is double the cost of setting up a Raspberry Pi for a year as outlined above.  Thus while NXT is at its current $0.04 each, capturing NXT with VPSs is a break-even proposition.

These are actually great numbers.  The return-on-investment or ROI for forging NXT is positive NOW and will be even more profitable when NXT coins become more valuable.  Thus even with NXT as a Proof-of-Stake coin without mining, there is STILL financial motivation for people to run the nodes required to keep the NXT system going.  For a pre-mined coin, that is a remarkable statement.

Oh and the daily cost of the NXT support web running on 300 Raspberry Pi nodes is $36,000 / 365 = $98.63 per day.  Do it on 300 VPSs instead, and the daily NXT support web cost is around $200 per day.

There should be a marketing video whit an instruction video with the things you need to buy and what the return on investment is . Or change the giveaway or faucet and only do a giveaway to people who run nxt on rasberry pi or odroid . Motivate new nxters to run nxt !

[swartzfeger]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

I'm with you, Anon. I signed up, cautiously excited, read as much as possible... and found very little in the way of concrete technical info. How many max coins in circulation, etc. A lot of unknowns here. At 10¢, I'm still undecided if I want to take away what little money I have from my NXT budget.

[Visin]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

I'm with you, Anon. I signed up, cautiously excited, read as much as possible... and found very little in the way of concrete technical info. How many max coins in circulation, etc. A lot of unknowns here. At 10¢, I'm still undecided if I want to take away what little money I have from my NXT budget.

technical documents are still yet to be written (mainly due to code being changed all the time, so somethings aren't 100% concrete yet)

As far as investing, please do not invest if you can't afford to lose it. We do not, and will never claim to have MASSIVE ROI's like altcoins, we are to be used long term not short term ROI boosts. Please keep that in mind if you decide to invest. We have a backlog of investments as it is, so no harm in not investing.

[swartzfeger]

There should be a marketing video whit an instruction video with the things you need to buy and what the return on investment is . Or change the giveaway or faucet and only do a giveaway to people who run nxt on rasberry pi or odroid . Motivate new nxters to run nxt !

This is what I don't understand and hope you can explain -- what are the benefits (ROI-wise) from running a RasPi?

I'm already running my client on my MBP. What benefit do I gain from running an additional RasPi? Sure, there's some minuscule goodwill going on in helping the network. But it won't help my forging at all.

Why should I drop $100 on a Pi and not just buy another 2000 NXT?

If there's a tangible upside, I'll be adding a Pi every week (actually, probably something beefier like an odroid, but that's for another thread).

[subSTRATA]

http://download.nxtcrypto.org/nxt-client-0.5.5.zip.sha256.txt.asc

SHA1

aa20fb32fe7e6cda7debee59928d5aea8ff7c581c58a56ff68e8252eaf9368c7  nxt-client-0.5.5.zip

It is actualy SHA-256 hash, not SHA-1.

[bitcoinpaul]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC.  
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale.  

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

He should get this amount of NXT after he has told JL / CfB about it. They are pretty reliable with bounties.

[Come-from-Beyond]

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

I don't care if it's scam or not. I do care that someone censors threads on nextcoin.org.

[subSTRATA]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

[Damelon]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

That's wesley's faucet.

Just looked at the blockchain and I see what you mean.
He just added the email system yesterday, but it doesn't seem to be bot proof

[Passion_ltc]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

[Damelon]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6973288302950136231&offset=1&filter=1

Every 3-4 minutes Nxt is being given out.