NXT :: descendant of Bitcoin - Updated Information

[salsacz]

I am so proud on a good idea to distribute the demythologization of the Nxt Myths

If this would be NXT without the very questionable initial distribution (and potentially more improvements over time compared to NXT because of opensource and more developers), then count me in. May be very interesting.

Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
BCNext: “This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.”

That was a very bright reflection. Creds to this dude for putting sucha stupid statement in sucha serious way.

Yep. It's, called Capitalism. You have to have people at the top if you want people at the bottom, and without people at the bottom, there wouldn't be anyone at the top. The bottom want to be at the top, and the top don't want to be at the bottom. Of course it's unfair. It's Capitalism.

Based on the facts:

I just saw I had published Myths n. 2 without some text, so here it is all:

Q: „Do you think the unequal distribution of bitcoin / big gains of early adopters / will be a deterrent in a more widespread adoption of bitcoins?“
A: „No. Early adopters get bigger gains (as they should) because they take on bigger risk. A bitcoin can be divided into 100 million pieces, so I don't see divisibility or distribution as a problem.“

Cameron Winklevoss

The distribution of Nxt has many phases:

       Original IPO (1 NXT = 2 Satoshi)
       First week (1 NXT = 100 Satoshi)
       Second week (1 NXT = 400-2000 Satoshi) - first exchange
       Next month (1 NXT = 3000-6000 Satoshi) - aliases
       February (?) – distributed exchanges, stock exchanges (?)
       March (?) – transparent forging (?)
       April (?) – colored coins (?)

The distribution of NXT is very fair because it still continues. Now it isn’t in hand of one man, but it is a community effort. BCNext gave us a long time to get on the train.

If all coins are in existence already, doesn't this make the original holders of Nxt very wealthy?
Potentially. The original stakeholders of Nxt all made an investment of Bitcoin to seed their holdings, however, with no promise of any kind of success or return on investment.[1] In order to get more users they started to sell their stakes in undervalued prices and also they spent tenths of millions on bounties or giveaways. And BTW – who are original stakeholders? These who paid 2 Satoshi? Or 100? Or 400?

Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
BCNext: “This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.”

Why was the launch of Nxt speeded?
Come-from-Beyond: „BCNext explained why he speeded up the launch. He wants the stake holders to make all important decisions“.  
BCNext: “I wanted Nxt to be launched by the community, not by a single person.  Success of Nxt is supposed to be achieved by work of a LOT of PEOPLE.”

When did Nxt really launch? Was it really in the day when the Billion NXT was transferred from the Genesis account to the original stakeholders? The IPO had been running for weeks in November 2013. In first days NXT cost 100 Satoshi. In first weeks of the December the price of Nxt was still about 400 Satoshi. Then 1500, 2000, 4000 before Christmas and if we don’t count the first bubble, we came back to the original 4000 in the middle of the January. But still – we have really bad client. Nxt is not yet traded in any of the big exchanges. There are many features – already programmed and tested – but they still weren’t implemented why?

Because we are still in a Beta. The launch wasn’t in November 24, it wasn’t in January 3, it will be in February/April. We all - 15.000 Nxt users - are beta original stakeholders. The distribution of NXT is extremely fair. The IPO still continues. We haven't launched yet. We can forget about some 73 stakeholders... Now everyone has an opportunity to jump on the train... and also to drive him! Why Nxt doesn’t use all features now? Because CBNext’s plan is to bring as many as possible users before the real Nxt will be released. Then we will have – more users, more features, all source code, but most important – this launch will be leaded by all Nxt community. This will be made by decisions of stakeholders. The success of Nxt is now supposed to be achieved by Nxt community, not BCNext.

What happened with the 21 Bitcoins?
Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.  21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.

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[NxtChg]

BCNext is not a fan of MVC pattern and created a monolithic code that contains core functions and interface calls. We should get rid of interface to get a good-looking code.

And I was just about to revive the old bitcoin suggestion to split into core library and pure-interface clients...

That idea has its benefits. For example, I don't have time to create a full-scale client, but wouldn't mind working on a simple interface, preferably in HTML+JS.

Nahh, ugly and unsecure. Some browsers cache your passphrase and so on...

Ugly can be fixed. Passphrases are only stored if they are passed via GET. This is bad API design, not client's fault.

[Jean-Luc]

oops: got the following on my raspi:

[2014-01-19 13:18:53.017] Loading transactions...
[2014-01-19 13:19:37.863] ...Done
[2014-01-19 13:19:37.866] Loading blocks...
[2014-01-19 13:20:22.443] ...Done
[2014-01-19 13:20:22.446] Scanning blockchain...
[2014-01-19 13:21:20.902] Error initializing Nxt servlet


maybe I have to try and start again without blocks.nxt and transactions.nxt ?!?!

Does it print out anything else after that? It should log the stack trace of the exception that caused the error.

[abctc]

So what's the plan for it?

Get rid of it ASAP.

Why? It's not that bad. Already open-sourced. And it doesn't require anything, except a browser.

- agree 100%

web-client is one of the most attractive features of Nxt.

[Jean-Luc]

When I went jdeserialize.jar on the blocks.nxt, it could not read the iostream. Did I use a corrupt blocks.nxt, or is blocks.nxt encoded with a different iostream than transactions.nxt?
thanks!  

No, except there is a custom readObject method for the Block class. I have never tried that deserializer tool.

[NxtChg]

- agree 100%

web-client is one of the most attractive feature of Nxt.

It also allows you to easily have both local and remote wallets.

[instacalm]

No, his Windows system was most likely compromised with keylogger/trojan. He didn't use vanitygen at all, afaik.

I also want to repeat my advice to use private browsing mode, or a separate browser profile, when accessing the Nxt server at localhost. It is a known issue that localhost url's containing the user secret phrase are retained in the browser memory cache. Could a malicious javascript planted on some website access and retrieve those?

Any plans to fix this?

[Come-from-Beyond]

- agree 100%

web-client is one of the most attractive feature of Nxt.

It also allows you to easily have both local and remote wallets.

We'll get JS implementation of NRS sign/verify algo soon. It will be easy to create a web client.

[FrictionlessCoin]

Folks, do let me know when you release full source code.

There is a great demand by the NEX folks for your work:

https://bitcointalk.org/index.php?topic=422052

[Come-from-Beyond]

Folks, do let me know when you release full source code.

There is a great demand by the NEX folks for your work:

https://bitcointalk.org/index.php?topic=422052

I think it will be the 3rd of April. Schedule ur plans according to this date, in the worst case it will be postponed for a couple of days, not more.

[instacalm]

Folks, do let me know when you release full source code.

There is a great demand by the NEX folks for your work:

https://bitcointalk.org/index.php?topic=422052

The amount of time you devote to NXT is breathtaking, you are clearly utterly fascinated by it.

[Come-from-Beyond]

The amount of time you devote to NXT is breathtaking, you are clearly utterly fascinated by it.

This guy is awesome. That's why

[BloodyRookie]

Question to the javascript bounty:

The bounty is valid till the 20th of January, 2014 12:00:00 UTC. The complete code must be published in this thread.

This means tomorow noon, right?

How will it be tested? Different browsers may have different results concerning speed.
Do comments have an influence on the rating of the script?

[Come-from-Beyond]

Question to the javascript bounty:

The bounty is valid till the 20th of January, 2014 12:00:00 UTC. The complete code must be published in this thread.

This means tomorow noon, right?

How will it be tested? Different browsers may have different results concerning speed.
Do comments have an influence on the rating of the script?

Not sure about noon, but more than 12 and less 24 hours left.

I'll run all implementations on the same computer/browser.

Comments could help if we need tiebreak.

[FrictionlessCoin]

The NEX community demand that Nxt developers release the source code that they have previously promised!

[landomata]

DON'T BELIEVE THE FOOL WHO POSTED ABOVE ME.....TROLL OF THE CENTURY.....INTELLECTUAL PROPERTY THIEF

DOWN WITH THIEVING TROLLS!!!

[Come-from-Beyond]

The NEX community demand that Nxt developers release the source code that they have previously promised!

https://github.com/slothbag/nxt-decompiled/blob/master/Nxt.java

[FrictionlessCoin]

No, his Windows system was most likely compromised with keylogger/trojan. He didn't use vanitygen at all, afaik.

I also want to repeat my advice to use private browsing mode, or a separate browser profile, when accessing the Nxt server at localhost. It is a known issue that localhost url's containing the user secret phrase are retained in the browser memory cache. Could a malicious javascript planted on some website access and retrieve those?

Any plans to fix this?

Good lord... they used a GET to post the secret pass phrase!

[Come-from-Beyond]

Good lord... they used a GET to post the secret pass phrase!

Aye. Without HTTPS.

[FrictionlessCoin]

The NEX community demand that Nxt developers release the source code that they have previously promised!

https://github.com/slothbag/nxt-decompiled/blob/master/Nxt.java

Decompiled code is not the same as source code.

Still you continue to mislead the community!

The NEX community demands the release of the source code!

Without the source code.... how can we believe that Nxt does not have a trojan or virus in their compiled code?

No source code... no trust.... fundamental crypto principle!