NXT :: descendant of Bitcoin - Updated Information

[vintagetrex]

NEXT IS COMPLETELY AND UTTERLY DEFENSELESS AGAINST A COMPETITOR GETTING 51% OF DEVELOPERS, AT WHICH POINT THE SOURCE CODE AND "NETWORK" (WHICH DOESNT EXIST BECAUSE OF LACK OF MINING) CAN BE COPIED INFINITELY

How is this different from bitcoin?
- with bitcoin, the source can be copied infinitely but the network of miners cannot be.  If all the developers moved to litecoin, bitcoin would still have a large mining network. 

[dzarmush]

edit: infinite nxt coins in the form of Nxt1, Nxt copy 2, Nxt copy 3, …..

Did any bitcoin fork manage to kill original? Are you stoned?

[salsacz]

I would say Nxt is more like

[instacalm]

People buying them believe that there will only ever be 1 billion coins in existence right?  But thats wrong

 Wrong

there will be infinite Nxt coins in existence meaning it is a terrible store of value.

 Wrong

"NETWORK" (WHICH DOESNT EXIST BECAUSE OF LACK OF MINING) CAN BE COPIED INFINITELY

 Wrong


Do you have actual arguments at hand so one could discuss?

[vintagetrex]

vintagetrex: it would we nice if you bought Nxt by DGEX, price would go up and more people would join Nxt and the snowball would be bigger and bigger.

Hahaha dude you understand.  

Look, theres innovations that could be made that could have a network built around them, but right now I don't see those being planned.  

[swartzfeger]

AFAIK the magnet link is a hash code that directly opens the default torrent client on you machine and starts downloading the file. There is no need for the alias if you are having a webpage. The user clicks on the link "Pretty Woman" (which is a magnet link) and the default torrent client is opened up, no need for the alias. Or do I miss something?

Let me sort this out in my head (ignore the fire and smoke coming from my ears):

1. we bypass the Nxt alias
2. hash code is sent in Nxt message
3. Nxt client redirects magnet link to default web browser (or clients built in torrent engine)

Am I close?

[Come-from-Beyond]

...CAN BE COPIED INFINITELY

Still waiting for ur reply on https://bitcointalk.org/index.php?topic=345619.msg4541529#msg4541529

Let me know if u need more time to find an answer that proves ur position.

[salsacz]

vintagetrex: it would we nice if you bought Nxt by DGEX, price would go up and more people would join Nxt and the snowball would be bigger and bigger.

Hahaha dude you understand.  

Look, theres innovations that could be made that could have a network built around them, but right now I don't see those being planned.  

I think Nxt network isn't bad:
https://mapsengine.google.com/map/u/0/edit?mid=zDbwNrja6dlY.kwTCMrAWqtAQ
(= very old data)

[vintagetrex]

edit: infinite nxt coins in the form of Nxt1, Nxt copy 2, Nxt copy 3, …..

Did any bitcoin fork manage to kill original? Are you stoned?

Hurr durr ur an idiot

Thats because bitcoin has a network of computers backing it u silly goose!!!
Why do u think the developers are so worried about forking the chain??!!!DUHHHHHHHHH

By the way u are probably talking to the only person in this forum right now who knows how to do single hash verification of proof of storage on a distributed network.  When u actually know so real public key crypto, you can talk.  

[jkoil]

I not run NXT

java.lang.NullPointerException

yea ... with 0.5.7 ?
same here


[2014-01-16 10:31:55.015] "*": {"shareAddress":true,"port":7874,"platform":"PC",
"application":"NRS","scheme":"http","requestType":"getInfo","version":"0.5.7"} >
>> java.net.UnknownHostException: *

[2014-01-16 10:33:02.718] DEBUG: Error in block generation thread java.lang.NullPointerException
        at Nxt$Account.getEffectiveBalance(Nxt.java:512)
        at Nxt$8.run(Nxt.java:6570)
        at java.util.concurrent.Executors$RunnableAdapter.call(Unknown Source)
        at java.util.concurrent.FutureTask.runAndReset(Unknown Source)
        at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.access$301(Unknown Source)
        at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.run(Unknown Source)
        at java.util.concurrent.ThreadPoolExecutor.runWorker(Unknown Source)
        at java.util.concurrent.ThreadPoolExecutor$Worker.run(Unknown Source)
        at java.lang.Thread.run(Unknown Source)

[pandaisftw]

NEXT IS COMPLETELY AND UTTERLY DEFENSELESS AGAINST A COMPETITOR GETTING 51% OF DEVELOPERS, AT WHICH POINT THE SOURCE CODE AND "NETWORK" (WHICH DOESNT EXIST BECAUSE OF LACK OF MINING) CAN BE COPIED INFINITELY

How is this different from bitcoin?
- with bitcoin, the source can be copied infinitely but the network of miners cannot be.  If all the developers moved to litecoin, bitcoin would still have a large mining network. 

If all the bitcoin devs moved to litecoin (meaning something is terribly wrong with bitcoin, why else would they move from the #1 coin?), you can be sure the large majority of miners will switch their mining power to other coins. Why would people mine a worthless coin?

Btw, NXT source code has been out for quite a while now, maybe you should make a copy? I haven't seen any good ones yet. Or is it the fact that nobody else (currently) can do NXT better than NXT can? Thus making any investments in NXT-clones is vastly inferior vs. investing in NXT itself?

[CCInvestor]

Hi all, Lophie and I agreed to trade 1 million NXT for 0.00004200 for a total of 42 btc.

We are looking for escrow.

Is there a reputable member who would like to help?

Preferably one who has done larger transactions before?  

What is your rate?

Anon136 has a strong escrow history... but I would also be happy to assist.

I traded with lophie myself yesterday!  


Edit: I also had a positive experience completing a successful test using NxtChg yesterday.

Thank you so much smaragda, I send Anon136 a PM.

I don't know if you have enough reputation to do the transaction. I don't know you yet from the threads but I do know Anon136.

Thanks a lot though for the tip.  

[mcjavar]

AFAIK the magnet link is a hash code that directly opens the default torrent client on you machine and starts downloading the file. There is no need for the alias if you are having a webpage. The user clicks on the link "Pretty Woman" (which is a magnet link) and the default torrent client is opened up, no need for the alias. Or do I miss something?

Let me sort this out in my head (ignore the fire and smoke coming from my ears):

1. we bypass the Nxt alias
2. hash code is sent in Nxt message
3. Nxt client redirects magnet link to default web browser (or clients built in torrent engine)

Am I close?

If you are in a webbrowser, browsing a webpage, you don´t need the alias to redirect anything as it is done by the hash in the magnet link.
1, you browse piratebay using chrome
2, you click on the magnet link
3, magnet lionk opens your default torrent client
4, file is getting downloaded

If you are using the Nxt client, you would need the alias to do the redirection for you.
But why would people use the Nxt-way if there is a much more convenient was using the webbrowser.

[dzarmush]

edit: infinite nxt coins in the form of Nxt1, Nxt copy 2, Nxt copy 3, …..

Did any bitcoin fork manage to kill original? Are you stoned?

Hurr durr ur an idiot

Thats because bitcoin has a network of computers backing it u silly goose!!!
Why do u think the developers are so worried about forking the chain??!!!DUHHHHHHHHH

By the way u are probably talking to the only person in this forum right now who knows how to do single hash verification of proof of storage on a distributed network.  When u actually know so real public key crypto, you can talk.  

Orly? Bitcoin is the only coin that has a computers network? You're definitely high, dude.

[mcjavar]

Hi all, Lophie and I agreed to trade 1 million NXT for 0.00004200 for a total of 42 btc.

We are looking for escrow.

Is there a reputable member who would like to help?

Preferably one who has done larger transactions before?  

What is your rate?

Anon136 has a strong escrow history... but I would also be happy to assist.

I traded with lophie myself yesterday!  


Edit: I also had a positive experience completing a successful test using NxtChg yesterday.

Thank you so much smaragda, I send Anon136 a PM.

I don't know if you have enough reputation to do the transaction. I don't know you yet from the threads but I do know Anon136.

Thanks a lot though for the tip.  

Or you could go to dgex and start a pump with buying 1 million Nxt

The price is not going upo, because people are not using dgex for buying into Nxt.

[salsacz]

CCInvestor: you could also buy some Nxt from Dgex, we need some buyers

[vintagetrex]

no I am figuring all of this out on my own right now actually.  Are u talking of gavin andresen?  smart guy he would have seen through this.  Look, crypto currencies and transaction systems have been around a long time.  Satoshi's breakthrough was basing crypto currency on an unsolvable problem.  This made them scarce.  

Yes, I'm talking about gavin andresen. This was his point of view.

Let's continue the discussion...

U said

NXT ISNT BASED ON MINING SO THE ENTIRE THING IS COPY AND PASTABLE!!!!

Does it mean that original of



isn't worth a lot?

can this be copied perfectly an infinite number of times?

edit: can the original mona lisa

[jkoil]

 Please explain what prevents somebody from copying and pasting the Nxt source to make Nxt1, Nxt2, Nxt3, Nxt4 …. ??

There is nothing preventing someone from making an alt-coin based on 100% POS.  BTC is the first cyrptocurrency to use POW to decentralize information.  NXT is the first 100% POS to decentralize information.

How many POW alt-coins have a current market cap larger than the first POW based coin BTC?  None.
So its up to you to consider how many 100% POS alt-coins will have a larger market cap than NXT?

I really don't see it.  NXT is unique just like BTC is.

Only time will tell.

"NXT is unique just like BTC is."

How about Virtual Rubl ?     is it the 1st cryptocurrency for that language area ?

[Come-from-Beyond]

no I am figuring all of this out on my own right now actually.  Are u talking of gavin andresen?  smart guy he would have seen through this.  Look, crypto currencies and transaction systems have been around a long time.  Satoshi's breakthrough was basing crypto currency on an unsolvable problem.  This made them scarce.  

Yes, I'm talking about gavin andresen. This was his point of view.

Let's continue the discussion...

U said

NXT ISNT BASED ON MINING SO THE ENTIRE THING IS COPY AND PASTABLE!!!!

Does it mean that original of



isn't worth a lot?

can this be copied perfectly an infinite number of times?

Yes. U have just done it when quoted my post.

[instacalm]

edit: infinite nxt coins in the form of Nxt1, Nxt copy 2, Nxt copy 3, …..

Did any bitcoin fork manage to kill original? Are you stoned?

Hurr durr ur an idiot

Thats because bitcoin has a network of computers backing it u silly goose!!!
Why do u think the developers are so worried about forking the chain??!!!DUHHHHHHHHH

By the way u are probably talking to the only person in this forum right now who knows how to do single hash verification of proof of storage on a distributed network.  When u actually know so real public key crypto, you can talk.  

Orly? Bitcoin is the only coin that has a computers network? You're definitely high, dude.

If he was actually high he wouldn't disturb this thread with such imprudent ramblings, making a fool of himself.