NXT :: descendant of Bitcoin - Updated Information

[landomata]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

No idea is retarded....maybe he see's something we don't...lets give him time to explain.

[TwinWinNerD]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

No idea is retarded....maybe he see's something we don't...lets give him time to explain.

This would make us the paypal of cryptocurrencies. I bet that would work out nicely.... NOT

[Hacer88]

you said NXT / GOLD ?
This could be fukring big man

Gold created Fiat
NXT creates Crypto

Nxt = Gold

Mind is blown :p

[bitcoinpaul]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

No idea is retarded....maybe he see's something we don't...lets give him time to explain.

Right. I don't see why this idea is good, but maybe he has an explanation.

[TwinWinNerD]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

No idea is retarded....maybe he see's something we don't...lets give him time to explain.

Right. I don't see why this idea is good, but maybe he has an explanation.

He will say:

Because we can reverse stolen funds transfers.

But:

Actually we couldn't even do that. If the acccount is compromised, even if you cancel the trasfer the funds would be lost, because you would never be able to spend them (because the attacker can just cancel your transfer)

If he wants to counter scam in P2P trading, then yes maybe, but it will lead to even more scam...

The only upside would be that if you misstype the reciving address you can do some good.

But obviously the cons outdo the pros and the wrong address issue should be solved with checksums clientside..

[^[GS]^]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

This idea could save many users being hacked and emptied.  

1) send 1000 NXT and 2 fee
2) 800 before confirmation, canceled.
3) you back to 1000, but the 2 of fee are ongoing and will be forged.

The system is not lost! everyone happy!

[Pouncer]

MtGox: Bitcoin Transaction Malleability bug

https://www.mtgox.com/press_release_20140210.html

BTC Crash!

"Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin."

NXT not affected!!

[Labteck]

PANIC BTC SELL... 3-2-1

[newsilike]

MtGox: Bitcoin Transaction Malleability bug

https://www.mtgox.com/press_release_20140210.html

BTC Crash!

"Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin."

NXT not affected!!

If we would get some big marketing campaign started right now, IT. WOULD. BE. HUGE! 

[Hacer88]

MtGox: Bitcoin Transaction Malleability bug

https://www.mtgox.com/press_release_20140210.html

BTC Crash!

"Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin."

NXT not affected!!

If we would get some big marketing campaign started right now, IT. WOULD. BE. HUGE!  

Maybe a good slogan for twitter that we all can post.

Anyone?

[Labteck]

thisbtc crach  is part of bcnxt plan too.
we are in 2/17 for the skynet activation.
At 9/17 nxt bots will start to buy/sell or they own

[newsilike]

http://de.reddit.com/r/CryptoMarkets/comments/1xieys/bug_in_the_bitcoin_protocol_note_that_this_will/

Upvote pls

[Eadeqa]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

This idea could save many users being hacked and emptied.  

1) send 1000 NXT and 2 fee
2) 800 before confirmation, canceled.
3) you back to 1000, but the 2 of fee are ongoing and will be forged.

The system is not lost! everyone happy!

This is dumb idea. People will buy things/services and then cancel the transactions, stealing from the merchants.  This is exactly the problem with credit card chargeback frauds, but here it will be 100 times worse.  No one should be able to cancel transaction.  Cryptos are irreversible as they should be.


Use escrow.
 

[Passion_ltc]

http://de.reddit.com/r/Bitcoin/comments/1xif4y/all_cryptocurrencies_based_on_bitcoin_are_in/

[^[GS]^]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

This idea could save many users being hacked and emptied. 

1) send 1000 NXT and 2 fee
2) 800 before confirmation, canceled.
3) you back to 1000, but the 2 of fee are ongoing and will be forged.

The system is not lost! everyone happy!

This is dumb idea. People will buy things/services and then cancel the transactions, stealing from the merchants.  This is exactly the problem with credit card chargeback frauds, but here it will be 100 times worse.  No one should be able to cancel transaction.  Cryptos are irreversible as they should be.


Use escrow.
 

Would be really dumb not to cancel transactions if equally "are not real" until they reach the 1440 confirmations.
I can pay you now, but will have to wait until 1440 to be effective confirmations. that is, it is not real.
and 1440 confirmations are 48 hours!

if you can not cancel, so I have to wait 1440 confirmations? make it immediately effective and voila!

[mikesbmw]

MtGox: Bitcoin Transaction Malleability bug

https://www.mtgox.com/press_release_20140210.html

BTC Crash!

"Note that this will also affect any other crypto-currency using the same transaction scheme as Bitcoin."

NXT not affected!!

Yeah, great and stuff, but what do people use to buy NXT? Oh....wait.... that's Bitcoin 
(and the happy few use CNY)

[NXM]

People, wake up! jl777 is exactly the kind of guy Nxt needs to go beyond what it is now. We need thinkers and visionary.

I don't think that anyone here has a problem with his ideas - the frustration that myself and some others have had has been in communicating with James about just "how" to do things (rather than "why" do them).

If I understand correctly, the problem is this monstrous thread where you cannot discuss different topics deeply without becoming crazy. Let us use the wiki for in-depth discussions.

+1

+1

+1

+1

[Eadeqa]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

This idea could save many users being hacked and emptied.  

1) send 1000 NXT and 2 fee
2) 800 before confirmation, canceled.
3) you back to 1000, but the 2 of fee are ongoing and will be forged.

The system is not lost! everyone happy!

This is dumb idea. People will buy things/services and then cancel the transactions, stealing from the merchants.  This is exactly the problem with credit card chargeback frauds, but here it will be 100 times worse.  No one should be able to cancel transaction.  Cryptos are irreversible as they should be.


Use escrow.
 

Would be really dumb not to cancel transactions if equally "are not real" until they reach the 1440 confirmations.
I can pay you now, but will have to wait until 1440 to be effective confirmations. that is, it is not real.
and 1440 confirmations are 48 hours!

In other words, even slower system than bitcoin. Bitcoin needs 10 minute for 1 confirmation, and 60 minutes for 6 confirmations to be safe, so now here we have a system that is much much slower than bitcoin. Merchants can't ship products (or send you downloadable links if you bought digital products) for 48 hours.

No thanks.

[iruu]

Holy shit
I'm so happy I don't have any btc right now
and other clones

[pandaisftw]

The 2nd part of BCNext's plan - https://bitcointalk.org/index.php?topic=458036.0

Advocating paragraph: "Transparency extended to absolute leads to inability to cheat thus removing necessity to think if someone should trust another one.", I think you should add the option to cancel a transaction, "even at the cost of losing the fee!"

If an option is implemented where transactions can be reversed, I myself and about 90% of all investors/enthusiasts would leave the ship.

This might be the most retarded idea of the century. Props

This idea could save many users being hacked and emptied.  

1) send 1000 NXT and 2 fee
2) 800 before confirmation, canceled.
3) you back to 1000, but the 2 of fee are ongoing and will be forged.

The system is not lost! everyone happy!

This is dumb idea. People will buy things/services and then cancel the transactions, stealing from the merchants.  This is exactly the problem with credit card chargeback frauds, but here it will be 100 times worse.  No one should be able to cancel transaction.  Cryptos are irreversible as they should be.


Use escrow.
 

Would be really dumb not to cancel transactions if equally "are not real" until they reach the 1440 confirmations.
I can pay you now, but will have to wait until 1440 to be effective confirmations. that is, it is not real.
and 1440 confirmations are 48 hours!

Well, it's really hard to fake past 10+ transactions (which is why I assume NRS uses that as the standard).

If we do as you propose, we would always have to wait 800 blocks before even considering sending the goods the client paid for. That's basically a whole day... not acceptable for any merchant or customer. I honestly don't want to wait 800 blocks so I can send some coins to an exchange...