NXT :: descendant of Bitcoin - Updated Information

[Mario123]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

The max transaction is 255 per block(per minute),right?
so I didnot catch clearly what is mean of 1000 TPS.

We have to remind ourself that the POSSIBILITY of 1000TPS brings us to 1000TPS in a few years. If we now state "not possible", we lose one feature.

[bitcoinpaul]

Right. I want to remind everyone to think about Nxt's target audience and which features we should deliver.

https://bitcointalk.org/index.php?topic=345619.msg4959522#msg4959522

Just want to catch on the discussion we had this afternoon about features and target audience for nxt.

1. (Possible) Features:
- TF for instant transactions
- TF + punishment against 50% attacks (correct?)
- no bloated blockchain
- energy friendly crypto
- mobile friendly crypto
- easy to add new features
- many many TPS
- parallel blockchains
- blockchain shrinking
- decentralized exchange
- colored coins
- decentralized voting/opiniongrabber
- decentralized AM (data storage, link storage (eg torrents), encrypted messaging, ...)
- dividend payouts (all fees per block) for everyone instead of mining of the few with lots of power
- Turing capability
- smart contracts
- anonymous transactions
- SMS gateway

2. Today it was clear that the nxt community...

[wesleyh]

NxtMac 0.22 out: http://nxtra.org/mac

Includes 0.6.1 by default and updating to 0.7e works correctly.

When I check for updates it says I'm running the newest version (0.6.1)... how do I update to 0.7.0e?

Go to the NxtMac > preferences menu and enable "download beta updates". Then NxtMac > check for updates. The blockchain will have to be redownloaded as it's going to be saved in a database.

[pocesar]

I have to manually go removing them and blacklisting them

How would i do that, can i remove them with the garbage icon in nrs, or manually delete them from the .xml?


In other news..
http://www.zerohedge.com/news/2014-02-06/high-frequency-bitcoins-hft-firms-now-accepting-btc-payment

when you click the 'trash can' on the 'Active peers' list, it will go to the bottom of the 'Known peers' list with a orange icon, you need to click the trash can again to remove it completely.

[mthcl]

Anyone got that news: http://rt.com/business/bitcoin-russia-use-ban-942/

What do you think?

I think the fact that Russia is gonna get bitcoin banned is one more reason for US government to support bitcoin.

That's what I thought too.

[BitcoinForumator]

Klee - you couldn't have made a better tweet to Keiser.

[Hacer88]

Klee - you couldn't have made a better tweet to Keiser.

What is Klee his account? :p

[Come-from-Beyond]

Klee - you couldn't have made a better tweet to Keiser.

Give us the link plz.

[Come-from-Beyond]

whats the ETA of the distributed exchange for nxt? also can you buy/sell other coins on the d-exchange or just nxt/euro? now would be a mega time to launch the distributed exchange with all this crack about withdraws scaring people away from centralised ones.

We r launching public test on 11th of Feb. After that we'll activate AE on the main net.

[BitcoinForumator]

https://twitter.com/kLee1977/status/431736922000478208

[Hacer88]

https://twitter.com/kLee1977/status/431736922000478208

ROFL

[swartzfeger]

https://twitter.com/kLee1977/status/431736922000478208

You're my hero, Klee. The amount of group think during the opening moments of the launch was ridiculous.

[pinarello]

https://twitter.com/kLee1977/status/431736922000478208

short tough

[BitcoinForumator]

https://twitter.com/kLee1977/status/431736922000478208

short tough

That was typical megalomaniac self-absorbed Keiser statement.

[Come-from-Beyond]

that soon? nice! right in the wake of all this crap with mtgox... wouldnt surprise me if mtgo is still down by then..

It doesn't mean that we r running it on the main net next week. 1st we should TEST it.

[landomata]

https://twitter.com/kLee1977/status/431736922000478208

short tough

That was typical megalomaniac self-absorbed Keiser statement.

http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8606685.PN.&OS=PN/8606685&RS=PN/8606685

Does Kaiser really own the patent?

[solex]

The reason why there are so little NXT transactions are because they are way to expensive. If i want to send the lowest amount possible to a friend, so he can send it back and test his setup, it costs mit 2 NXT total. (send 3 to him, 2 come to him and he sends the 2 back) That are 12-15 cents.

Our network wants to tell everyone that we can handle big traffic with little cost, but the way i see it, with the fee staying that high, not many transactions will occur.

Or look at faucets. Many people want to enter a currency for free at start to test it out. Now we can get 3 NXT from a faucet. that is 1 transaction .... Rly??
I think currencies like Doge are so successful because the fee is ridiculous low, its 0.01 Doge, that is like a 10.000th of NXT..

I predict a more than 10 fold in transactions if the fee drops to 0.1 NXT and the fractional NXTs get enabled.  Also even if it does not increase by tenfold, then then widespread of the currency makes up for it.

FEE 0.1!!!!  NAOWW

Exactly!
When are we implementing this change?

+1

That makes no sense because NXT is 100% issued so fees need to be material to encourage forging and redistribute coins. Perhaps the fee should be 1% of amounts < 100, and capped at 1 for larger amounts. Two decimal places would be needed also, for nxt cents.

[BitcoinForumator]

https://twitter.com/kLee1977/status/431736922000478208

short tough

That was typical megalomaniac self-absorbed Keiser statement.

http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8606685.PN.&OS=PN/8606685&RS=PN/8606685

Does Kaiser really own the patent?

Obviously he does. But he's full of himself - which is fine when it's true, but when he's making statements like MaxCoin is a total success (just go read his #maxcoin tweets), when it has been anything but a success so far (except maybe for the inner circle). Can't stand the fakery.

[allwelder]

Code:

[2014-02-07 17:50:15.163] DEBUG: Database cache size set to 126720 kB
[2014-02-07 17:50:17.668] Database is at level 6
[2014-02-07 17:50:17.670] Updated database is at level 6
[2014-02-07 17:50:17.680] Scanning blockchain...
java.lang.reflect.InvocationTargetException
        at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
        at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
        at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
        at java.lang.reflect.Method.invoke(Unknown Source)
        at org.eclipse.jetty.start.Main.invokeMain(Main.java:297)
        at org.eclipse.jetty.start.Main.start(Main.java:724)
        at org.eclipse.jetty.start.Main.main(Main.java:103)
Caused by: java.lang.OutOfMemoryError: Java heap space
        at java.util.Arrays.copyOf(Unknown Source)
        at java.lang.AbstractStringBuilder.expandCapacity(Unknown Source)

@Jean-Luc ,as above after adding pause .

See, it is running out of memory. How do you start java, what -Xmx parameter do you use? Try:
java -Xmx1024M -jar start.jar

I start bat file with "C:\Program Files\Java\jre7\bin\java.exe" -jar start.jar
Use the "java -Xmx1024M -jar start.jar",the cmd just disappear at the start.

May I need to modify some parameters in web.xml?
TKS.

[okaynow]

https://twitter.com/kLee1977/status/431736922000478208

short tough

That was typical megalomaniac self-absorbed Keiser statement.

http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=8606685.PN.&OS=PN/8606685&RS=PN/8606685

Does Kaiser really own the patent?

Obviously he does. But he's full of himself - which is fine when it's true, but when he's making statements like MaxCoin is a total success (just go read his #maxcoin tweets), when it has been anything but a success so far (except maybe for the inner circle). Can't stand the fakery.

he has it double-patented?
http://patft.uspto.gov/netacgi/nph-Parser?Sect2=PTO1&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&d=PALL&RefSrch=yes&Query=PN%2F7487123