NXT :: descendant of Bitcoin - Updated Information

[pinarello]

I want to make one more point here as an official NXT treasurer.  Those NXT fund spreadsheets in my sig currently document THREE QUARTERS OF A MILLION DOLLARS of assets.  This is with the NXT price apparently still being held down by a whale doing a slow selloff of his funds, with NXT still on the launchpad instead of blasting off for da moon.  In a matter of weeks or a few months we could literally be in control of MILLIONS OF DOLLARS WORTH OF NXT.   This is a HUGE HUGE HUGE responsibility.  Disbursing these assets is not like peeling off a five out of your wallet at McDonalds.  There has got to be a CHAIN OF COMMAND.  The treasurer has got to receive clear, unambiguous, and documented authorization to disburse from a SPECIFIC DESIGNATED SPENDING AUTHORITY that everybody acknowledges. 

It's not as big a deal as making sure you've got Presidential authorization to turn that key in a nuke sub....but I'm treating it that way.  Would you rather have a treasurer who didn't?

I totally agree.

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[LiQio]

I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.

The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?

hover over the 10+ and you'll see the exact number.
alternatively you can use http://localhost:7874/nxt?requestType=getTransaction&transaction=[your transaction number]

I believe this is a bug of the blockchain explorer, transaction confirmations sometimes get stuck.

[Come-from-Beyond]

Dev Response Requested

As I've mentioned prior, CoinPayments is working on adding Nxt to their offering. Please help me address this question:

"I've been working on NXT some more today and looking at this page
http://wiki.nxtcrypto.org/wiki/Handling_deposits it sounds like
transactions aren't really "safe" and can disappear until they get 720
confirms (~12 hours). Is that right?"

Yes, this is right. The same in Bitcoin.

[Pouncer]

I am still waiting for 1440 confirmations, and that brings up another question. That should take about two days right? In the local view of my transactions it shows the 10+ next to confirmations (i realize that it will show this as the confirmations continue to grow) and after two days it should hit about 1440.

The thing i dont understand is the blockchain explorer, it only shows 4 confirmations for the transaction and its been a day and a half. What does that mean?

hover over the 10+ and you'll see the exact number.
alternatively you can use http://localhost:7874/nxt?requestType=getTransaction&transaction=[your transaction number]

I believe this is a bug of the blockchain explorer, transaction confirmations sometimes get stuck.

Also try block explorer at http://www.mynxt.info/blockexplorer/

[antanst]

How do i visually know that my account will stay unlocked? The server window doesnt show any information that had anything to do with accounts? Probably for security reasons, but id like some way of knowing that forging is going on in the background.

There's the "getState" command, that shows you how many unlocked accounts your NRS instance has, among other things:

Code:

http://localhost:7874/nxt?requestType=getState

...but there's no forging indicator. Devs: How about adding a command that returns the unlocked accounts plus if they're forging or not? Something like

Code:

?requestType=getForgingStatus

That would return something like

 

Code:

[ {"account" : "..." , forging: true}, {"account" : "..." , forging: false}, ... ]

[allwelder]

Dev Response Requested

As I've mentioned prior, CoinPayments is working on adding Nxt to their offering. Please help me address this question:

"I've been working on NXT some more today and looking at this page
http://wiki.nxtcrypto.org/wiki/Handling_deposits it sounds like
transactions aren't really "safe" and can disappear until they get 720
confirms (~12 hours). Is that right?"

Yes, this is right. The same in Bitcoin.

means difficult to come true instant transaction ?

[Damelon]

Woah, woah, woah.  I want to call a time out here for a few pages.

I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. 

The infrastructure spending thread has been open for all of about 36 hours.  Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project.  There is NO WAY we have given the proper amount of deliberation to what is being proposed here.   And a vote is being called for already if we haven't achieved agreement as a committee? 

Um...what's wrong with this picture?

I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now.   We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project.  Just for starters.

We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here.  I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy...

I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5?

Instead it's just put your name down as a candidate and you're in?  On as many committees as you want?

So how is voting for funding going to work in a group of people like THAT?

Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH.

I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon..

 
Was wondering when this would come.

Agreed, of course
Someone already proposed subforums and separate threads for each project to facilitate discussions.
That seems like a good idea, so the to be formed committees have an easier time of it.

The run up period will also give the projects now in the threads time to gather material to present to the committees to support their claim for funds.
That's what normally happens when you apply for funds and I see no reason why we shouldn't do it the same way.

[oldnbold]

i think they already decided to add NXT:
http://www.reddit.com/r/CryptoCurrency/comments/1ycym4/bittrex_supports_17_markets_today_are_there_any/cfjjvty

Well, don't wanna take the wind out of your sails, but that doesn't sound to me like they decided to add Nxt. To me that sounds like Nxt is under consideration among with other coins, but has good community support so thats a plus.

Just added my 2 cents worth at http://www.reddit.com/r/CryptoCurrency/comments/1ycym4/bittrex_supports_17_markets_today_are_there_any/?sort=new (under the handle netphrophet) 

Although I'm relatively new to the cryptocurrency scene and am still on a steep learning curve, I rate NXT very highly, first because it is cheaper and faster than Bitcoin, second because new coins can be built on top of it (making it an economic platform) and last but by no means least, the very strong community behind it.

[EvilDave]

I want to make one more point here as an official NXT treasurer.  Those NXT fund spreadsheets in my sig currently document THREE QUARTERS OF A MILLION DOLLARS of assets.  This is with the NXT price apparently still being held down by a whale doing a slow selloff of his funds, with NXT still on the launchpad instead of blasting off for da moon.  In a matter of weeks or a few months we could literally be in control of MILLIONS OF DOLLARS WORTH OF NXT.   This is a HUGE HUGE HUGE responsibility.  Disbursing these assets is not like peeling off a five out of your wallet at McDonalds.  There has got to be a CHAIN OF COMMAND.  The treasurer has got to receive clear, unambiguous, and documented authorization to disburse from a SPECIFIC DESIGNATED SPENDING AUTHORITY that everybody acknowledges. 

It's not as big a deal as making sure you've got Presidential authorization to turn that key in a nuke sub....but I'm treating it that way.  Would you rather have a treasurer who didn't?

I'm glad rickyjames is being conservative in distributing the funds.  The allocation of the community Nxt fund should be done with great care and thought.  Don't blow through all of it quickly.  The longer the funds are held the more valuable they will become and the more projects you can fund.

It's my belief that dollar parity is going to be here sooner than we all think.  Remember no more Nxt is being created.  We this happens the community will have $9 million at its disposal to fund projects.

Regardless of the USD value of the community Nxt fund remember, "You can only spend a dollar once."

Complete agreement, we don't need to rush this. I know a day can be a long time in crypto, but we are building something for the future here. Work smart, not just fast.

DO NOT PAY ANY MONEY TO HAVE NXT LISTED ON AN EXCHANGE!

THIS IS A MOVEMENT ABOUT FREEDOM FROM UNETHICAL PRACTICES!

NXT CAN STAND ON ITS OWN!

Sometimes, we have to push things a little bit. But this "pay to be on exchange" smells a little fishy, yes.

Bribing exchanges to list NXT is a very short sighted (not to mention unethical) strategy.
We can better spend our hard-won NXT on getting a package together to help exchanges with NXT integration. I have a feeling opticalcarrier was going to look into it...... it should be a priority, anyhow.
If we make listing NXT as simple as listing any one of the zillion scrypt coins, then exchanges will come 2 us.


And yeah, bloody Frictionless again......please be as unfriendly to him as possible:
https://bitcointalk.org/index.php?topic=422052.msg5237653#msg5237653
 His idiot nex scam is only going to bring NXT harm.
It is his stated aim to destroy NXT, and while I am pretty sure he won't manage that, he could confuse people who may make the mistake of associating his scam attempt with us......


Lastly: I'm still claiming me and TwinWinNerd as winners of the first physical item purchase via NXT award, unless I see some evidence to the contrary.
@punkrock: did u sell your BF4 keys for NXT?

[EvilDave]

how do i add a pic on this? just downloaded dotnxt client and a error message came up saying report this to the devs? took a screen shot of the message but i dont no how to add it in a msg here?

Use Tinypic for your pic uploads, it gives u all the code u ned to embed yr images painlessly.
http://tinypic.com/
U dont even have to register......

[User705]

...

DO NOT PAY ANY MONEY TO HAVE NXT LISTED ON AN EXCHANGE!

THIS IS A MOVEMENT ABOUT FREEDOM FROM UNETHICAL PRACTICES!

NXT CAN STAND ON ITS OWN!

Sometimes, we have to push things a little bit. But this "pay to be on exchange" smells a little fishy, yes.

Bribing exchanges to list NXT is a very short sighted (not to mention unethical) strategy.
We can better spend our hard-won NXT on getting a package together to help exchanges with NXT integration. I have a feeling opticalcarrier was going to look into it...... it should be a priority, anyhow.
If we make listing NXT as simple as listing any one of the zillion scrypt coins, then exchanges will come 2 us.
...

What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

[salsacz]

how far are we from decentralized P2P exchanges?

[abctc]

Woah, woah, woah.  I want to call a time out here for a few pages.

I'm not trying to be the Grinch here, but I STRONGLY think we've got to get a better handle on this whole process before we just start handing out NXT left and right to ANYBODY. 

The infrastructure spending thread has been open for all of about 36 hours.  Already we've got 9 projects in the queue and only 23 posts in the thread - less than 3 per project.  There is NO WAY we have given the proper amount of deliberation to what is being proposed here.   And a vote is being called for already if we haven't achieved agreement as a committee? 

Um...what's wrong with this picture?

I am a big believer in spreadsheets to collect all the data in one place and if ever there was a need for them, it's right now.   We need to generate a standard spreadsheet listing who is asking, what their project is, how much they want, and a link to a thread that talks about their individual project.  Just for starters.

We need to establish a rule that nobody gets a vote on their project for at least a week after they've proposed it to avoid the exact kind of rush to judgement that is happening here.  I would personally prefer at least two weeks, but I don't want anybody to think I'm TOTALLY crazy...

I also sort of thought there was gonna be some kind of vetting of people putting their names down for committees, where they would have to put in at least one post describing why they thought they were qualified to serve on a committee, what they wanted to accomplish there, blah blah blah, and um....we might actually VOTE IN A POLL to pick the top 5?

Instead it's just put your name down as a candidate and you're in?  On as many committees as you want?

So how is voting for funding going to work in a group of people like THAT?

Hey, I'm all for rapid progress but we've got to establish some kind of initial setup and standards here and PACE OURSELVES FOR THE LONG GAME or this bounty of NXT is going to be gone in a FLASH.

I say forget about voting NXT out of the treasury for at least a few more days and lets go back to setting up the committees themselves and the "paperwork" that defines the process we are about to embark upon..

+1440 !

[mikesbmw]

I'm happy to announce that TwinWinNerD has just bought some of my lovely stickers.
Yay!
77 NXT for 5 stickers+postage, its a bargain.


Which made me think: Is this transaction the first time someone has purchased a physical item in exchange for NXT ?
I can't believe no-one has done it before us, but I don't remember seeing anything earlier on in this thread.

Someone on nextcoin.org purchased 2 pizza's a month ago to go into history as the guy who paid a GAZILLION for 2 pizza's 
https://nextcoin.org/index.php/topic,2482.msg25908.html#msg25908

[bitcoinpaul]

´What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

Paying is OK, the bidder contest is wrong.

[jubalix]

ok having though about this I think nxt tech is good, but the maximum cui bono? comes to mind.

the IPO could only benefit stoping short as it did, to avoid further dilution of early stake holders, and we don't know really how many were sock puppets. A few weren't that for sure.

if the originator (s) had a large amount of BTC, they could then sit on the buy and sell side of an 90's exchange they own for near free and make it look like volume, while slowing dumping into the actual market. A slow leak over a few years will get you a lot of BTC.

It could be a slow stealth premine lamp shaded by the tract it is an acknowledged 100% premise

I coin the term

long leak premise

not saying this did happen, but it could be this way.

I am reasonably sure that exchanges launch coins to pull out BTC from people.

The end result may be large adoption...just saying this maybe what has happened here.

In other news, NXT is becoming hard currency in the crypto world like BTC, LTC and DOGE / PeerCoin

[punkrock]

´What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

Paying is OK, the bidder contest is wrong.

Anyway, we need 3000 votes asap. https://www.mintpal.com/voting

[kknk808]

´What's unethical about paying for services?  If an exchange wants to list it and the payment amount is reasonable, why not?

Paying is OK, the bidder contest is wrong.

Anyway, we need 3000 votes asap. https://www.mintpal.com/voting

Doesn't matter IMO. What's another exchange for NXT. mintpal is a good exchange but it would likely be low on the prominence level compared to Cryptsy, etc. with a low amount of volume.

Plus we would likely just be added tomorrow or something even though we have a coin beating us, unless some of the altcoins start putting in more money.

[Eadeqa]

how far are we from decentralized P2P exchanges?

very far

[l8orre]

Please - can someone from the other devs maybe let me know if there is something wrong with the testnet?

It is reachable, but there don't seem to any transactions going through there - neither from my client nor from the Browser access or the nxtWallet
.
.
.