NXT :: descendant of Bitcoin - Updated Information

[jaymunro]

I'm trying hard, but I don't really understand how the initial distribution of NXT works.  

A number of accounts get the bulk of NXT and it's up to them to distribute it?  What's their incentive other than building the number of people involved to increase the demand?  If they build the demand, the price goes up so it's better to hold their balance as much as possible...

Where am I going wrong here?

[1714609999]

1714609999

[1714609999]

1714609999

[chanc3r]

I have a UK account but wouldn't use it. .. Mine was blocked just because I went on a online shopping spree. Had a phone call claiming to be the fraud team ...

That happened to me too, yesterday actually  .

You just need to have a stern word with your bank manager
I don't get those problems anymore..
Having more than one account for different purposes is also useful....
People forget the same bank will let you have multiple current accounts if you ask nicely.
and you do a lot of business with them..

[bidji29]

Here's a great post from gutshot5820 in the Ehereum thread

Lets put the fundraiser in simple terms that everyone can understand.  Everyone should agree agree that all investments should have a proper risk/reward ratio. This project itself has a lot of risk and potentially a lot of reward, so neither can outweigh the other.  Now lets look at this objectively from that perspective.

Ethereum project;
Risk = Very High
Reward = Very High

Founders;
Risk = 0%
Reward=100%

Early adopters;
Risk = 100%
Reward = ?

Put that on a graph.  Does that seem like a fair transaction to you?  

If Ethereum fail, the dev will still sit on thousands of BTC. It doesn't feel quite right to me.

On the other hand, if NXT failed, BCnext would have got 21 btc, not even enough to pay for his dev time.
The risk/reward was and is a lot more fair in NXT than in any other project like Ethereum or Emunie.

[BitcoinForumator]

Exactly. Throw that into the "unfair" discussions.

[pinarello]

What's going on with the network? My client is constantly re-scanning the blockchain. Are we under attack?

maybe you are works fine here

[rickyjames]

I have a UK account but wouldn't use it. .. Mine was blocked just because I went on a online shopping spree. Had a phone call claiming to be the fraud team ...

That happened to me too, yesterday actually  .

The banks in both the UK and the US are implementing creeping de-facto currency controls, they are in big trouble with liquidity now that the Fed is tapering off QE.


http://www.bbc.co.uk/news/business-25861717

http://www.forbes.com/sites/halahtouryalai/2013/10/17/no-jpm-isnt-banning-international-wire-transfers-no-limits-on-withdrawals-either/

What's even scarier is there is increasing talk by the IMF and national central banks of a one-time 25% wealth tax to try and rebalance the currently desperate debt ratios faced by banks:

http://www.zerohedge.com/news/2014-01-27/bundesbanks-stunner-broke-eurozone-nations-first-bail-your-rich-citizens

This is I think the real reason cryptocurrencies like NXT will take off in the next 24 months.

[Zahlen]

well, about to be overtaken by dodge.  how humiliating

It's ok. Doges run fast but tire quickly

Reposting this gif from reddit a while back: https://i.imgur.com/xBNNUqn.gif

What's even scarier is there is increasing talk by the IMF and national central banks of a one-time 25% wealth tax to try and rebalance the currently desperate debt ratios faced by banks:

Good fucking grief. *facepalm*

EDIT: How the fuck did our world get to this point where screwing up gets you more and lets you keep screwing up?

[rickyjames]

I'm trying hard, but I don't really understand how the initial distribution of NXT works.  

A number of accounts get the bulk of NXT and it's up to them to distribute it?  What's their incentive other than building the number of people involved to increase the demand?  If they build the demand, the price goes up so it's better to hold their balance as much as possible...

Where am I going wrong here?

You've got nothing wrong.  That is all the incentive they need.  Anytime money is created, the people that have it at its creation face a challenge to get it into the hands of many people and convert it from "money" into "an economy".   They do it right, their remaining retained holdings rise in value.  There is no perfect way to do this.  NXT is just one of many, many attempts to gt it right, and is doing distributions at exchanges and with bounties.  Every cryptocoin and every national fiat currency faces this challenge.  Central banks do it with fractional reserve banking (and the current debt levels means they are not doing it well).   NXT did it with a six-week open enrollment period where anybody could kick in up to 1 BTC to obtain a proportional share of the one-time NXT created.   PoW coins do it with "mining".  

Interesting experiments to watch, eh?

[PeercoinEnthusiast]

Reminder, this starts now:

"
 
[SWARM] Exchange Push

Team,

It's time to let the exchanges know it's time to add Nxt. Please do the following:


1. Visit the Google Doc for a list of exchanges and their respective email addresses

https://docs.google.com/spreadsheet/ccc?key=0AuputZyRQ5-5dFY4RlBTdFJWWnhTRUp3SWdiMlBpb3c&usp=sharing#gid=0


2. Email each exchange

- Let them know why you think they should add Nxt (marketcap, features, community etc..)
- You could easily use the same email for each exchange


3. Record your results here:

https://docs.google.com/spreadsheet/ccc?key=0AuputZyRQ5-5dFY4RlBTdFJWWnhTRUp3SWdiMlBpb3c&usp=sharing#gid=0


Don't wait for someone else to do the work, let's show the exchanges we're serious about Nxt! - Nikel"

[HinnomTX]

I would like to get some feedback about the password generator that I just implemented in NXT Solaris.

Secrets consists of 64 characters from the following set of characters: ['a'..'z','A'..'Z','0'..'9',' ','''','!','"','#','$','%','&','(',')','*','+',',','-','.','/',':',';','<','=','>','?','@','[','\',']','^','_','`','{','|','}','~']. 97 different characters.

Entropy should be: 97^64 = 1,423609878848517298732088475247e+127 => 422 bit (Is this calculation correct?)

To create the secret, I use the RAND_bytes function from openSSL. The seeding is done automatically in the openSSL library through OS-based seed initialization.

I was thinking about doing the seeding myself by asking the user to move the cursor or hit on the keyboard, but from what I read about the openSSl implementation, I fear that I might get worse results than with letting openSSL do the seeding.

Since the entropy is enough, i think you can choose to not use some character that are too similar, like O and 0.

EDit : Nevermind, because the letter/number are the least of a problem when you see the special character. It will be very hard to manually enter those password

Per the Truecrypt implementation, I would use human input + a rolling initial value for seeding. In other words, let two values do the seeding. The first is human input from the mouse, the second is the Rand_bytes function, called every few seconds.

[mezzovide]

I detected networking issues in Bitcoin and Nxt. Both the networks r fragmented more than usualy. Does anyone know anything about this?

maybe someone or something higher up that doesnt want cryptocurrency to succeed found a way to surpressing it from networking layer. i'm wondering if this even possible...    

[rickyjames]

What's even scarier is there is increasing talk by the IMF and national central banks of a one-time 25% wealth tax to try and rebalance the currently desperate debt ratios faced by banks:

Good fucking grief. *facepalm*

EDIT: How the fuck did our world get to this point where screwing up gets you more and lets you keep screwing up?

People do not realize how desperate the world financial situation is.   Where do you think A TRILLION DOLLARS  comes from EVERY YEAR NOW to finance the American government annual deficit?  It used to come from China.  No more, they're out of cash.  Since 2009, if came from the Fed.  No more, they're out of cash.  Um, NOW WHAT?  

If you are an American, IT'S GONNA COME FROM YOU.  And since Washington can't say the words "New Taxes"...

http://money.cnn.com/2014/01/28/retirement/savings-retirement-myra/

http://www.nytimes.com/2014/01/30/your-money/obama-orders-creation-of-myRA-accounts.html?_r=0

..as in "Give us your money NOW and don't come back for it for 20/30/40 years..."

Since the crash in 2007 it's all been a game of musical chairs, and the music has been getting slower and slower.  

http://en.wikipedia.org/wiki/Musical_chairs

It's about to stop.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10605957/World-risks-deflationary-shock-as-BRICS-puncture-credit-bubbles.html

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100026436/trying-to-deleverage-china-without-blowing-up-the-system/

[chanc3r]

Any UK Nxt holders? We need to position ourselves to get on Bittylicious to increase liquidity. The ability to purchase Nxt without Bitcoin is a big deal and one we should put some energy towards.

My KYC/registration with Bittylicious is pretty much complete, I can see they have about 4 Alt's on there already.
I don't know if anyone else has contacted them - I've emailed them to see if they will let me sell NXT.

[pinarello]

Quick update for NXT Solaris sto fix an ugly bug.

Here is version 1.5 of my Windows NXT client "NXT Solaris". Still closed-source, so relax...

Download
64-bit Version: NXTSolaris-v1.5-64bit.zip (44.9 MB) – Download here
SHA256 checksum for NXTSolaris-v1.5-64bit.zip: F5165C3D70CA5617739E6798ABE75D6AE2D7A339589156DEB39657A19A1BD9B2

32-bit Version: NXTSolaris-v1.5-32bit.zip (44.1 MB) – Download here
SHA256 checksum for NXTSolaris-v1.5-32bit.zip: 0024D8480EE969A1573746ABC2E5BFDE18BFED39B02212C3C42A3D8F4C084C2B


For screenshots and everything else please visit: http://nxtsolaris.wordpress.com/


Installation
Simply unzip the archive and run the NXTSolaris.exe file.

The current version 1.5 and previous version 1.4 is not compatible with version 1.3 and before, so please delete any existing NXT Solaris files before updating to 1.5.

Roadmap
1.) Move current version of my code to XE5 and release closed source 32-bit and 64-bit versions for Windows. [DONE]
2.) Refactor code to a MVC architecture, so that I can create separate GUIs while using the same version of the business logic code. [90% DONE - Remaining necessary work will show up while doing 3.) ]
3.) Create new GUIs for Windows and OS X using the same business logic, but based on the cross-platform Firemonkey libraries.
4.) Release Windows version (32 and 64 bit) based on FireMonkey.
5.) Release source-code for FireMonkey Windows version.
7.) Release OSX version based on FireMonkey.
8.) Release source code for FireMonkey OSX version.


Changes for v1.5
-Fixed stack overflow bug when switching to another currency in personal account management
-Added password generator for adding new accounts in personal account manangement


Changes for v1.4
-Added market charts (DGEX, Bter, NxtChg, Vircurex) and exchange rates (from cyptocoincharts.info)
-Added feature to show NXT assets in other currencies in the personal account management
-You can now synchronize your address book after a NXT Solaris update with default address book that I ship that holds account numbers of exchnages, faucets and such
-Implemented orphan block cleanup
-Moved to Delphi XE5 in preparation for multiplatform support and open-source FireMonkey GUIs
-Windows 32-bit and 64-bit versions are now available

Thanks to NxtChg.com for doing the small animation in the status bar!

Donations
I hope you like my client and I’d be extremely happy to see some donations for the future of this project!

NXT: 1758531264253431177

this works like a charm thank you Marcus!

[Jean-Luc]

"DEBUG: Error in block generation thread java.lang.NullPointerException"

You need to include at least the first few lines of the stack trace that follows this error message, else I can't do anything about it.

[mezzovide]

we're taken over by doge  

good time to buy some nxt?  

[Passion_ltc]

Wasn't there nearly 19900 accounts? Or did I misread that part? Right now there are only 16884..

[Jean-Luc]

- I want to add database persistence, which will be a major new feature, before releasing 0.6.0.

Database? What is that dabase going to be used for?
I am a bit confused, is it not all in the blockchain?

Yes, but the blockchain itself now needs to be stored in something better than serialized java object files.

[DrearyUrbanite]

Wasn't there nearly 19900 accounts? Or did I misread that part? Right now there are only 16884..

I am showing 19947

[Zahlen]

People do not realize how desperate the world financial situation is.   Where do you think A TRILLION DOLLARS  comes from EVERY YEAR NOW to finance the American government annual deficit?  It used to come from China.  No more, they're out of cash.  Since 2009, if came from the Fed.  No more, they're out of cash.  Um, NOW WHAT?  

[links to finance stuff]

Finance articles usually go over my head. But yeah, the status quo isn't sustainable, and things are going to fall apart very soon. Folks need to know.

I found this series of videos helpful: https://www.youtube.com/watch?v=bYkl3XlEneA&feature=c4-overview-vl&list=PLMNj_r5bccUzol670CnRnAp-a6rpd3Dym (Check out the links on the right of the video for the rest of the series.) The narrator speaks very clearly and to the point, and he's done a *lot* of research and his claims are backed up by references.