NXT :: descendant of Bitcoin - Updated Information

[newsilike]

Upvote:

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

http://de.reddit.com/r/CryptoCurrency/comments/1xifsl/bug_in_the_bitcoin_protocol_note_that_this_will/


Retweet:
https://twitter.com/Plucky333/status/432840644340363265

(Basically every #Nxt thing on twitter  )

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[fmiboy]

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!!

HOLY CRAP!! BTC just got a heartattack!!

So frigging scary looking at the speed of crash!

NXT is safe heaven like gold...

PANIC buy

looks like a lot of people take it very seriously and selling btc...

tomorrow another feature test for us, and there isn't a perfect timing than that, also perfect timing to releases Clienxt 0.0.5 [codename] AE testnet before big day

[^[GS]^]

Simple mode....

ACTUAL/NOW/CURRENT:

1) you send 1000 NXT and NXT 1 fee
2) shows that balance (false) / show is received at the destination (false)
3) it is effective in 1440 confirmations (after 48 hours)
4) someone forge the commission NXT

WITH CANCEL:

1) you send 1000 NXT and NXT 1 fee
2) shows that balance (false) / show is received at the destination (false)
3) you cancel the transfer before the confirmation 800 (~24 hours). you recover the amount, the recipient returns to its normal amount. 
4) someone forge the commission NXT

___________________

Because you think DGEX and the other sites take so long to process transactions? Are not congested. Are only waiting for 1440 confirmations.

[Isildur23]

WE SHOULD START TO BUILD NXTMONEY == fixed price/value in all major currencies.

We need economists for that or u will end with eMunie-like system. I still doubt that eMunie "constant value" idea will work if people start selling EMUs.

Can't see how it will work. The system doesn't even the variation of price, it just alters it. Obviously, it will look more steady when there is a lot of demand, but when people start selling, there is nothing to shrink the supply or enforce the demand...

[instacalm]

Retweet:
https://twitter.com/Plucky333/status/432840644340363265

#BTC and other alt-coins based on it's protocol are having trouble.

its

[lucky88888]

[nexern]

why is this still on version 0.5.11

http://87.230.14.1/nxt/nxt.cgi?action=20

come on guys this is blockchain explorer.

NEXERN where are you?

just catched up, very busy the last days with AE gui for the testrun tomorrow.
update to 0.7.2 now.

[CIYAM]

#BTC and other alt-coins based on it's protocol are having trouble.

That is not true - the "problem" has been known since 2011 and is only affecting exchanges that use tx hashes incorrectly.

Don't spread FUD please.

[greyw00lf]

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!

Use escrow.

Yes, use escrow, there will be services for that if needed.

And if it's only because of being hacked, than i think that this won't help very much. You will have more serious problems when being hacked. What if you can't access yout wallet for a week and get hacked? ...

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)

what we should do is: check if anything like that could be possible in Nxt, not just laugh at Bitcoin...

[newsilike]

Retweet:
https://twitter.com/Plucky333/status/432840644340363265

#BTC and other alt-coins based on it's protocol are having trouble.

its

You are right, fuck me

https://twitter.com/Plucky333/status/432843201074823168

Thanks and corrected

@CIYAM Open
Well they are obviously are having trouble to some degree, the price wouldn't crash like mad if it wasn't like this.

Twitter isn't the place to post a 1000 words technical analysis of the problem...

You have 140 characters

[Labteck]

What's this bitcoin bug i keep hearing about? Just heard and it's everywhere.

NOT in NXT! spread the word, NXT as safe heaven

catcoin is safe too....

[Come-from-Beyond]

What's this bitcoin bug i keep hearing about? Just heard and it's everywhere.

BCNext hacked Bitcoin to bring more ppl to Nxt.  

[CIYAM]

catcoin is safe too....

I very much doubt that, however, again people THIS IS NO NEW BUG - it was known and even written up in the Bitcoin wiki for *years* (even *I* was aware that tx hashes could be changed by changing tx information without invalidating signatures and I am no great expert).

Mt. Gox has done everyone a big disservice here with their bullshit press release that has basically led to a FUD storm and panic sell-off.

[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

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.

hello? NXT exactly work that way now.

current ANY balance is effective until after the 1440 confirmations. NONE

what you see as a balance on the client, is the balance is unconfirmed, not real.

the transaction is not real! confirmations until 1440.

so it works currently! Now!


do the test, send a transaction and will not be deducted from your effective balance until 1440 confirmations , 48 hours after they met.

That is not true... What you mean is the balance you can use to mine.

You can spend these coins and if you are not on a fork, noone can take them away from you.

[landomata]

catcoin is safe too....

I very much doubt that, however, again people THIS IS NO NEW BUG - it was known and even written up in the wiki for *years*.

That knowledge still won't stop the market momentum, its an opportunity for Nxt to expand.

  

[Come-from-Beyond]

Some ppl have bought BTC at 100$-200$ price...

[ChuckOne]

what we should do is: check if anything like that could be possible in Nxt, not just laugh at Bitcoin...

I agree.

[rriky92]

Code:

[2014-02-09 18:44:07.399] DEBUG: Will pop block 2427355948223133654 at height 62416
[2014-02-10 12:01:47.025] DEBUG: Blacklisting 95.85.27.90 because of: Invalid transaction attachment:
{"alias":"kec","uri":""}
[2014-02-10 12:44:03.155] DEBUG: Will pop block 1930807738807260198 at height 63046
[2014-02-10 12:44:21.348] DEBUG: Error sending JSON request
java.net.MalformedURLException: For input string: "6874:7874"
	at java.net.URL.<init>(URL.java:619)
	at java.net.URL.<init>(URL.java:482)
	at java.net.URL.<init>(URL.java:431)
	at nxt.peer.Peer.send(Peer.java:583)
	at nxt.peer.Peer.connect(Peer.java:846)
	at nxt.peer.Peer.access$100(Peer.java:51)
	at nxt.peer.Peer$1.run(Peer.java:74)
	at java.util.concurrent.Executors$RunnableAdapter.call(Executors.java:471)
	at java.util.concurrent.FutureTask.runAndReset(FutureTask.java:304)
	at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.access$301(ScheduledThreadPoolExecutor.java:178)
	at java.util.concurrent.ScheduledThreadPoolExecutor$ScheduledFutureTask.run(ScheduledThreadPoolExecutor.java:293)
	at java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1145)
	at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:615)
	at java.lang.Thread.run(Thread.java:744)
Caused by: java.lang.NumberFormatException: For input string: "6874:7874"
	at java.lang.NumberFormatException.forInputString(NumberFormatException.java:65)
	at java.lang.Integer.parseInt(Integer.java:492)
	at java.lang.Integer.parseInt(Integer.java:527)
	at java.net.URLStreamHandler.parseURL(URLStreamHandler.java:217)
	at java.net.URL.<init>(URL.java:614)
	... 13 more

[allwelder]

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!!

So,Nxt should use fiat  as exchange rate ,such as USD or CNY.

[Labteck]

So,Nxt should use fiat  as exchange rate ,such as USD or CNY.