NXT :: descendant of Bitcoin - Updated Information

[utopianfuture]

Noone minds I suppose?

Could someone talk about the details how this should work, please? How to securely do this without the risk of someone getting all 3 password pieces?

Beyoncé?

No idea. Some kind of voodoo magic I suppose.

 

And now the serious answer please.

It is not working for security reason.

Now I have a vote that need your attention https://bitcointalk.org/index.php?topic=423241.0

The poll doesn't make much sense. Committee or no committee we need to decide who is holding funds first. None of poll options answers that.

A treasurer will hold the fund. For now come-from-beyond is our treasurer. He already said he can take the pressure   We could help to relieve him off duty when we have multi-sign acc in place.  

[erik__]

I propose that we use some of the unclaimed coins for a big give-away action. Hand out big fistfuls of NXT to the people who have been supporting NXT over the last couple of months (maybe by weighting this thread contribution, to include me, of course) and then carry on with random give-aways to new Nxt'ers.

And one big give-away to a public figure/charity. All give aways will bring people in, rewarding the established community will give us a warm fuzzy feeling, and a big public figure/charity give away will get lots of coverage in mainstream news media without Nxt having to pay for advertising.

Let me again bring up the idea of using global computing, like Ripple does.

Going down the number crunching (simulated mining) type of path gives undue credibility to those who say it's not fair distribution unless all your coins are distributed that way.  Part of our message should be that our distribution is just as fair as anything else and not send mixed messages about that point.  After all, the masses won't mine or be a part of any IPO so points about initial distribution are moot to them.

I say this as someone who "mines" for Ripple on the World Community Grid for the fun if it, but I think it makes Ripple look like they are desperately trying to appease some of their biggest critics.

[timmyd]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

Either way NEX is STILL a DECENDANT of NXT.
NXT has the 1st spot already.
But on a serious note it would be devastating if you helped out

[wizzardTim]

is NXT trading on BTC38 also now?



http://www.btc38.com/altcoin/altgeneral/663.html

Hmm,looks like it is? :-)

Google translation:

Today, the line for a famous cottage currency trading platform of the new currency NextCoin, and put its name in Chinese is called "future currency." Unexpectedly, in addition to the NXT currency called the future, there is the English name FutureCoin future currency, and has a domestic line on the new platform. Said to the children to see a bit after the "future money", a big wave white flock this platform, called FUC buying from this future currency, the price quickly pulled from 0.05 0.48 soared nearly tenfold .

WOW, BTER and BTC38???

Next stop btc-e and ...to the mooooooooooooooooooooon!

[Anon136]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

i vote for not fighting it but just because we dont fight it doesnt mean we need to go out of our way to help. let him figure it out himself. if he cant find his own solutions than they arnt really "competition" anyway

[dzarmush]

1 account, 10 million.

9 anonymous people are chosen.

3 get the first part of the password.
3 get the second part of the password.
3 get the last part of the password.

So to send money, we just need to contact 1 of every group.  This needs to be a diverse group so that no one can figure out other people that might be in the group of chosen ones.

Make a script that allows input of the password parts and then executes it.

Or better yet, use some sort of screen sharing where each person then enters their password phrase. Everyone can view at the same time.

I like wesleys's idea much more than the idea of having 10 separate account controlled completely by 10 people. To summarize,  I going to put forward this proposal:

1. BCNext create a completely secure account holding 10 million fund

2. BCNext choose 9 trusted password holders who pledge 1. to never reveal the password or his names; 2. to follow the rules of funding; 3 to act expediently when the his password is required

3. Following wesleyh's proposal  

3 get the first part of the password.
3 get the second part of the password.
3 get the last part of the password.

4. The funding for a new project would follow my concept  of "open bounty" outlined here

Anyone can step up and present his/ her idea, propose a bounty and let the community decides. So we continue the tradition of asking for bounties in a decentralized fashion as we have been already doing in nextcoin and nxtcrypto forums so far. But now funding would be a bit easier to come by since we have common pool in addition to private donors's fund.

This will work easier when we have the voting system in place. A person presents his/ her idea, propose a bounty and action plan, and set up a vote. Community can ask questions in the meantime and when the voting is over, the project will be funded if the vote passes the majority. A democratic and decentralized method of funding projects.

We can even implement this type of "open bounty" even when the voting system is not yet in place. In fact, we actually did it one time already with the case of Maco's android app as the overwhelming majority refused to fund his 500K NXT request for his app. So we actually had a precedent in place already. Let's continue the funding process in this type of decentralized fashion instead of giving one person/ or group the authority of giving out the funds.

5. When a project get funding, a time will be set so that the pass holders can coordinate and send the necessary fund to the project with funding. Make a script that allows input of the password parts and then executes it.

6. A guideline could be as follow (credit nxtberry)

I would also like to see an efficient donation/reward/funding program approx like this:
* 10 NXT donation to new nxters for basic testing
* 100 NXT reward for minor NXT promotion
* 1000 NXT graphics, branding, major promotion etc.
* 10000 NXT minor development, larger graphics work, applets, wide media promotion etc.
* 100000 NXT larger development / significant projects funding, milestone events

That's the proposal to deal with all the funding issue and all the unclaimed coins. Please support this proposal and end this debate in consensus. Please suggest modification as needed.    

Could someone talk about the details how this should work, please? How to securely do this without the risk of someone getting all 3 password pieces?

We need to copy a solution used in spy movies
It a fun, though. But weird.

[pinarello]

is NXT trading on BTC38 also now?



http://www.btc38.com/altcoin/altgeneral/663.html

Hmm,looks like it is? :-)

Google translation:

Today, the line for a famous cottage currency trading platform of the new currency NextCoin, and put its name in Chinese is called "future currency." Unexpectedly, in addition to the NXT currency called the future, there is the English name FutureCoin future currency, and has a domestic line on the new platform. Said to the children to see a bit after the "future money", a big wave white flock this platform, called FUC buying from this future currency, the price quickly pulled from 0.05 0.48 soared nearly tenfold .

No now I understand.

A coin called Futurecoin was mistakenly took for Nextcoin because in Chinese translated it is almost the same.

so futurecoin sky rocketed when some people mistakenly took it  for NXT

[Come-from-Beyond]

We could help to relieve him off duty when we have multi-sign acc in place.  

I quit the project in April. We won't have multisig till that time, I think.

[EvilDave]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

I'm tempted to say, let him burn.

BUT: if he makes a complete bollocks of NEX (which looks likely) there are gonna be a lot of disappointed people. And, right or wrong, some of that disappointment will reflect badly on NXT.

We certainly need to continue to spam his thread hard, to make it obvious to even the most brain-dead that they will probably end up with nothing. That is also a good marketing strategy, hassle the fake while promoting the genuine NXT. I don't like negative markting, but in FCs case I'll make an exception.

Or we could just hire a Byelorussian hitman from the unclaimed coins.....


@Utopianfuture: voted half an hour ago.....

[ifightformerkel]

Hello, can i received NXT to my dgex account when the sender is outside of dgex?
Or can i received NXT on dgex only within dgex?

[instacalm]

is NXT trading on BTC38 also now?

http://www.btc38.com/altcoin/altgeneral/663.html

That article talks about NXT (NXT币) in its Chinese translation often times being referred to as FutureCoin (未来币). However, there's another FutureCoin (http://www.fucoins.com) traded in the Chinese crypto markets (http://www.guogao.com/trade/FUC/) and name confusion combined with panic buying lead to a ten fold rise of FUC (0.05 to 0.48). Pretty funny!

[bitcoinpaul]

Well, I faced a moral dilemma and would like to ask for an advice...
...

Nah, please just ignore this guy. Seriously.

[Anon136]

shamelessly advertising my orderbook https://docs.google.com/spreadsheet/ccc?key=0AuZ9UiDk97ajdFQtdHN2RElUQU10NjdqRUNkWm5uUlE

if you get a chance than stop by, place an order, leave some feedback, anything helps. still havn't managed to get many orders yet.

[utopianfuture]

We could help to relieve him off duty when we have multi-sign acc in place.  

I quit the project in April. We won't have multisig till that time, I think.

Maybe we will by making a huge bounty on it. Otherwise, we would find someone else by that time.

Now people, be a good a NXTer and go to vote https://bitcointalk.org/index.php?topic=423241.0

[erik__]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

Go for it.  If it makes Nxt look bad, then Nxt is relying too much on you.  There are plenty of massive stakeholders of Nxt that can keep Nxt competitive if they choose to protect their investment.  For the rest of us, it's good entertainment.

[Come-from-Beyond]

let him figure it out himself.

Hehe, it's not easy even for a skilled cryptographer...

[xyzzyx]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

The point of having freely available source is to allow both audits and changes.

If the source is available, but unusable, then it really isn't free.

I say give him the tools he needs to generate a genesis block.

[LiQio]

let him figure it out himself.

Hehe, it's not easy even for a skilled cryptographer...

I guess this is your once-in-a-lifetime chance to ask for millions of NEXes then

[wesleyh]

let him figure it out himself.

Hehe, it's not easy even for a skilled cryptographer...

Only if it doesn't take up too much of your time.. We need you focused on NXT

[landomata]

Well, I faced a moral dilemma and would like to ask for an advice...

FrictionlessCoin created a thread dedicated to NEX (descendant of NXT). I had a lot of fun reading that thread but I suspect some people took NEX seriously. The problem is that if FC waits till April when Nxt source code becomes completely open, he still won't be able to generate a valid genesis block, coz Nxt uses a crypto algo modified by BCNext (this is why we collected 10 BTC for the audit). I support all cryptocurrencies and would like to help him to create a new genesis block, competition is good for the whole crypto-community. But this could look not very good to guys who own NXTs...

What would u do?

The point of having freely available source is to allow both audits and changes.

If the source is available, but unusable, then it really isn't free.

I say give him the tools he needs to generate a genesis block.

I argue against it