NXT :: descendant of Bitcoin - Updated Information

[eXtatiC]

My vote for 0.1 NXT.

[ChuckOne]

Maybe Nxt should aim for a more conservative 100 TPS to avoid ending up looking very silly in a few months time.

100 TPS is a good number too. After we test this rate we will see if it's feasable to add one zero more.

Finally.

[msin]

You? Of course you should not. It's designed for people thinking about secure messaging.

For secure messages I can use OTR for free.

The entire vision behind Nxt is to have the longest feature list among all alt-coins.  

Nxt - "Everything but the kitchen sink".

I guess this is a good time to announce that I plan to sell a Nxt kitchen sink by end of '15.

[ChuckOne]

Too late 4 what?

For dump. Emule's deeds don't follow his words, I bet I lose nothing if ignore his further posts.

You loose some fun.

[Asian Prepper]

Guys & Gals,

Can we do each other a favor and ignore Emule, as a community act?  

He adds nothing of value to the discussion and distracts many of us.

If you are with me on this, hit the [Ignore] button, it's there to be used!

I agree with this completely.  I like to come here n monitor new developments with nxt to make new nxt videos... i really don't have time to waste on reading a dozen pages of emule's fud.

Can all the developer's agree to just not answer these types of Newbie Nonsense n focus on informing us with nxt development or answer folk's questions about nxt.

Jackasses will always be jackasses so why waste time trying to change their minds.

Thanks for everyone's cooperation.

Tai Zen

[ChuckOne]

-----BEGIN PGP SIGNED MESSAGE-----
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Release 0.5.12

http://download.nxtcrypto.org/nxt-client-0.5.12.zip

sha256: 30856c5f76b4194d40ece68d480956999ff8072b7b6a78b0be7d9da535dc969a

Change log:

Fixed a critical bug. Everybody should upgrade immediately.


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Do it!

[sherpico77]

Fee: 0.1 NXT

[Come-from-Beyond]

For dump. Emule's deeds don't follow his words, I bet I lose nothing if ignore his further posts.

You loose some fun.

He wasn't funny enough anyway. He is far from FC who has unimaginable potential. I wish more jokers come to this thread.

[ChuckOne]

Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.

Don't agree. Wait until April and ask again.

[FrictionlessCoin]

You? Of course you should not. It's designed for people thinking about secure messaging.

For secure messages I can use OTR for free.

The entire vision behind Nxt is to have the longest feature list among all alt-coins.  

Nxt - "Everything but the kitchen sink".

I guess this is a good time to announce that I plan to sell a Nxt kitchen sink by end of '15.

That could be one of the features in BCNxt 'secret plans' that he has "yet to reveal".

[FrictionlessCoin]

For dump. Emule's deeds don't follow his words, I bet I lose nothing if ignore his further posts.

You loose some fun.

He wasn't funny enough anyway. He is far from FC who has unimaginable potential. I wish more jokers come to this thread.

Thanks for the compliment.  How's the weather in St. Petersburg these days?

[ChuckOne]

Fee should not be static. It's not good to set a static value without knowing how the market evolves.

As a quick fix i vote for 0.1 because forging needs to yield some income. This quick fix should have a set deadline. Say 1. April.
Until then, a new automatic fee adjustment system has to be agreed on.

I think it would be wise to keep block output about constant and have a maximum fee. Adjust each block based on a moving average.

I'd like an static fee. Voted on by the community via VS.

It gives everybody a baseline. Ever-changing fees? What's the point?

[msin]

I'll use twitter. It is HTTPS. If I'm paranoid that it knows my IP - I'll use Tor.

SO... u think twitter is secure? have you read all that things about NSA obama and all that friends?

There is a sentence about Tor which is older, more reviewed and have bigger community. And it is free and open-source.

I actually agree with you when you think about messaging as a stand alone feature.  I look at it this way.  Secure messaging is just one tool I use when completing a fully independent Nxt transaction.  Meaning, at one point you will be able to browse products, communicate with seller, initiate purchase, put Nxt in escrow (receive item), send funds, leave feedback, all within Nxt client.  That is just one example of hundreds that could be used with Nxt secure messaging.

[ChuckOne]

I would also be worried more about potential forks if the state could not be predicted in advance.

Final state can't be predicted. But u can't get different results if u have no truly random events. Transaction processing is completely deterministic, we just have to make sure we don't include RANDOMIZE opcode.

So, no timestamps and the like?

[Come-from-Beyond]

I would also be worried more about potential forks if the state could not be predicted in advance.

Final state can't be predicted. But u can't get different results if u have no truly random events. Transaction processing is completely deterministic, we just have to make sure we don't include RANDOMIZE opcode.

So, no timestamps and the like?

Why? U'll be able to get timestamp of any block/transaction.

[Trade101]

""Transparent Forging" allow each user's client to automatically determine who will generate the next block, so that they can then send their transactions to that node. This will also allow additional fees to be realized for immediate/priority transactions.

An equally important feature of Transparent Forging is an outstanding security feature of the protocol to temporarily reduce to zero the forging power of nodes who should generate the next block but don't. This transparent forging feature will prevent against even a 90% majority owner of all NXT branching out and forcing a fork. So if a node that has 90% of all Nxt, and doesn't generate a block when scheduled, the system will reduce its mining power to zero temporarily to prevent a bad fork from being forced. "

this is what I read in Nxt wiki... but can anyone elaborate why this really enhances the network security? I mean it´s kind of random who are my nodes at the moment so if I get unlucky
and have more then a bunch of nodes with bad intentions (double-spending or w/e) they could deliberately miss out on generating a scheduled block
and getting away with it.

Or is this not a problem in reality? Sorry if this is a really stupid question, but I´m really unexperencied with this  proof-of-stake / forging as underlying security for a coin.

[ImmortAlex]

Fee: 1.0
Until we really have high price for 1 NXT.
Until we really have big number of transactions per block.
Until we really start to scream: "WTF, I buy one gram of blow cheap cheneese smartphone and need to pay 5% of it's price as fee!"

[ChuckOne]

I guess I am missing something - how then does it fly? Surely it needs to be validated as to what it does by all (or at least the majority) of nodes otherwise how can we know it has been processed correctly?

When u see a new block u attach it to ur blockchain. Upon attaching u iterate thru all transactions in the block and analyze them. If it's a payment, then u adjust corresponding balances. If it's a script, then u feed it to the interpretator. The interpretator processes all script commands one by one. If at some point it faces a problem (like division by zero), then it simply stops the processing.

Edit: Of coz scripts must be deterministic. No random events that could lead to different results.

Btw. something that came to my mind. How's gonna get the fees for executing the scripts?

The executors? Evenly split? The first executor? If later, then this boy could easily bloat the chain because paying 0 NXT per op.

[msin]

You? Of course you should not. It's designed for people thinking about secure messaging.

For secure messages I can use OTR for free.

The entire vision behind Nxt is to have the longest feature list among all alt-coins.  

Nxt - "Everything but the kitchen sink".

I guess this is a good time to announce that I plan to sell a Nxt kitchen sink by end of '15.

That could be one of the features in BCNxt 'secret plans' that he has "yet to reveal".

Perhaps that was the end game all along, Nxt Kitchen Sink in every home.

[ImmortAlex]

How's the weather in St. Petersburg these days?

Why do you think he is from St.Petersburg?