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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2755827 times)
CIYAM
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February 21, 2014, 05:28:57 AM
 #36001

Well, I was told that if it had more than 3, it would be rejected by a lot of the network as it is not considered standard. Also, for DOGE, it simply fails.

I think your information is "out of date" when it comes to Bitcoin but it could well apply to clones based upon older source code.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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February 21, 2014, 05:32:28 AM
 #36002

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 ?
It's question about wanted level of security. 1 confirmation in Bitcoin - some pretty big hashrate needed to overwrite (less whole network's hasrate, cos block generator own only part of it + cos within 10 minutes not every each peer see every other one), 2 confirmations - some^2. And so on. 6 confirmations give us pretty good level. And after 20 hours (?) - with 120+ conf. (if so) u're completely safe.

In Nxt - some not hashrate, but cumulative stake involved. There goes 10 conf. as OK-level, 100 conf. as strong level and 720+ conf. (12-18 hours) as "u're safe" level. With TF, as I recall, level for strong security'll greatly reduce.
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February 21, 2014, 05:35:12 AM
 #36003

This is because bitcoind only supports a max of 3 for multisig and it needs to be one less than 3

^ This is not correct - you might want to have a play with this: https://coinb.in/multisig/



3 gateways, that is only for the start? In the future they will be more?
If there is demand, it is possible to create additional layers, eg. a trio of gateways for each third of withdrawal. However, since the gateways will be independently managed and they have to reach consensus before any funds can be withdrawn, any hacker would have to crack two separate facilities.

For deposit, I am initially just funneling all through a single gateway as I couldnt get listunspent to work on multisig transactions, even after I created account associations on each server with  addmultisigaddress. As it is, it was a great pain to implement a listunspent equivalent with gettxout's. Alpha version assumes no pending transactions, but once the basics are working it shouldnt be too hard to initialize to a correct state as all relevant gateway events are broadcast via AM. This way, not only can all the gateways monitor things in near realtime, so can anybody.

The whole multisig in bitcoind seems unfinished. Some things work fine, others not so good, and a lot just not at all. No wonder there is no end user wallet support for multisig.

James

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February 21, 2014, 05:36:43 AM
 #36004

Well, I was told that if it had more than 3, it would be rejected by a lot of the network as it is not considered standard. Also, for DOGE, it simply fails.

I think your information is "out of date" when it comes to Bitcoin but it could well apply to clones based upon older source code.

Cool! It wouldn't be too hard to add more nodes to the multisig gateway code, just want to start with a universal solution. Do you know what the limits are? What about the txfee?

http://www.digitalcatallaxy.com/report2015.html
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February 21, 2014, 05:37:36 AM
 #36005


Local Signing? Blockchain Pruning? Shrinking? Morphing? Timetravel?
Come-ooooooooooon tell us-from-beyond the horizon!
))))
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February 21, 2014, 05:45:39 AM
 #36006

Does anyone else find the NEM vs Nxt thing really interesting?  It's like communism vs the free market.
U can't mix up communism and decentralization. It's unnatural ideology so it requires centralized force (a big one) to be settled down to vast majority of people (for how long, if so?).

Communism've nothing to do with wealth equality w/o economic activity. That cypto is egalitarian (before trading'll start).
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February 21, 2014, 05:50:02 AM
 #36007

Do you know what the limits are? What about the txfee?

Upper limit is 20 (as that Javascript website shows) - can read here: https://bitcointalk.org/index.php?topic=215213.0 although there may still be a "relay" limit of 3 in place (so you might try submitting a 4 of 5 "test" tx directly to say blockchain.info).

Fee is just in accordance with the total tx size and UTXO "coin age" as per usual.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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February 21, 2014, 05:51:06 AM
 #36008

An Idea of two new sites in NXTunity.

Hi everybody,

I have not seen any sites like "bitpay" and "localbitcoins" in the NXT community yet.
I think NXT will grow a lot if it's possible to be exchaned in any local curremcies arround the world and can be used to pay merchants in their local currencies.
The good point is that we have many nations in our community and with a good management that is possible with very special NXT features,  we can join together and even form a virtual company on top of NXT and build "localnxt" or even "localcryptos" site or "nxtpay" or anything like those.

I'm myself can arrange to help in UAE(Dubai) and Iran to be a local buyer or seller.

Just an idea, That personally can help to comes to reality.

Sepehr
P.S. All names mentioned above already registered and I checked it and know that, but the idea is not depends on any name.


I have some of these names in my possession, because a domain squatter got localnxt.com etc.

I have nxtlocal.com if you want to use it to strengthen the community. If you want them commercially, I would appreciate a fee, but I'd rather give them to the community. If the community says: give it, I will.

If someone has use for the following ones for the community then they are available, too:
 
nxtaliasexchange.com    
nxtassetexchange.com
nxtassetsexchange.com


Very good Damelon,
I can manage to start the site but I prefer something else.

I prefer that we form a company on top of Nxt, Everyone in the comunity can buy it's assets and then this company starts commercially and I maybe both a stakeholder and a worker in the company.(As my knowledge it's possible on NXT, am I right? if not, correct me!)

In this case everyone that is a stakeholder of for example nxtlocal.com really tries to help the company to grow.

It's far far more than a single person domain name!!

Any updates about this?

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February 21, 2014, 05:52:18 AM
 #36009

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

Ethics come first.
IMO ethics in that case - is giving any Nxter a choise: to push things or to wait for completely natural growth. Both options're completely healthy. But, personally, I dislike often repeating of something non-mortal in form of screaming (color, size, letter's register).
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February 21, 2014, 05:53:50 AM
 #36010

Does anyone else find the NEM vs Nxt thing really interesting?  It's like communism vs the free market.

NEM is like a malevolent dictatorship.  Now they are just pulling peoples' stakes if they don't like what you say.


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February 21, 2014, 06:06:29 AM
 #36011



My NXT is dancing the Limbo again between my account and bter Grin




Has anybody had any luck with bter NXT deposits the last 24 hours?

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February 21, 2014, 06:07:45 AM
 #36012

don't forget small accounts possibly don't bother to forge.
+ don't forget to place near a picture of distribution of, say, Bitcoin blocks'es generators. I'm pretty sure amount of (successful) miners is dynamically decreasing, cos almost all new miners and part of existing ones only mine in pools to get stable reward. But when u're joining pool, there's no +N successful miners anymore, there's pool and it'll generate blocks of the system.
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February 21, 2014, 06:21:02 AM
 #36013

Does anyone else find the NEM vs Nxt thing really interesting?  It's like communism vs the free market.

NEM is like a malevolent dictatorship.  Now they are just pulling peoples' stakes if they don't like what you say.

You can cry on my shoulder. I can feel your pain Smiley
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February 21, 2014, 06:31:00 AM
 #36014

Nxt-e.com supports multiple languages supports (English French and  Chinese), German, Russian, Japanese, or the other language volunteers please contact us, thanks.

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February 21, 2014, 06:38:31 AM
 #36015

I am getting close to an alpha release of the automated multisig gateway. I was hoping there was somebody here who is both familiar with gateway software and C, who could review my code.

I will be setting up three servers doing automated multisig for DOGE trading directly into NXT AE testnet. It will be real DOGE, but test assets, so just test it with small amounts. Since losing a few hundred DOGE isnt a disaster, I will be testing the basics myself.

The code is only two days old, so I have concentrated on just getting it working. Assuming people want to use it for real, I will keep improving it. Adding any coin that is a bitcoin fork should be a matter of changing a single #define file. At some point, it could probably do gateway services for many coins at the same time.

James

What about using the DOGE testnet?  You'd have to mine on the testnet to get DOGE, but the difficulty would be low so it would accumulate quickly.

Edit: here's a DOGE testnet faucet: http://testdoge.lionservers.de/

That testnet faucet also has a DOGE testnet how-to: http://testdoge.lionservers.de/howto/

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February 21, 2014, 06:46:00 AM
 #36016

I am getting close to an alpha release of the automated multisig gateway. I was hoping there was somebody here who is both familiar with gateway software and C, who could review my code.

I will be setting up three servers doing automated multisig for DOGE trading directly into NXT AE testnet. It will be real DOGE, but test assets, so just test it with small amounts. Since losing a few hundred DOGE isnt a disaster, I will be testing the basics myself.

The code is only two days old, so I have concentrated on just getting it working. Assuming people want to use it for real, I will keep improving it. Adding any coin that is a bitcoin fork should be a matter of changing a single #define file. At some point, it could probably do gateway services for many coins at the same time.

James

What about using the DOGE testnet?  You'd have to mine on the testnet to get DOGE, but the difficulty would be low so it would accumulate quickly.

I will gladly tip anybody willing to test enough real DOGE to test with. I think it will the first time a mainnet crypto is traded on a testnet Dex

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February 21, 2014, 06:51:25 AM
 #36017

Does anyone else find the NEM vs Nxt thing really interesting?  It's like communism vs the free market.

NEM is like a malevolent dictatorship.  Now they are just pulling peoples' stakes if they don't like what you say.

How can someone pulling of a stake when there is nothing to give yet? There is no single NEM in the market yet.

The community felt that you were not interested anymore so they pulled your name out of the list.

The community has been very nice to you to and asked to you personally if you are really interested in NEM or not.

But there is still no good answer from you. You are making it very hard for yourself and the community.

Everyone is welcome. Just say yes to NEM  Wink

NXT - NEM - NAS - NFD
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February 21, 2014, 07:13:40 AM
 #36018

Does anyone else find the NEM vs Nxt thing really interesting?  It's like communism vs the free market.

NEM is like a malevolent dictatorship.  Now they are just pulling peoples' stakes if they don't like what you say.

How can someone pulling of a stake when there is nothing to give yet? There is no single NEM in the market yet.

The community felt that you were not interested anymore so they pulled your name out of the list.

The community has been very nice to you to and asked to you personally if you are really interested in NEM or not.

But there is still no good answer from you. You are making it very hard for yourself and the community.

Everyone is welcome. Just say yes to NEM  Wink

https://bitcointalk.org/index.php?topic=426303.msg5276278#msg5276278


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February 21, 2014, 07:35:38 AM
 #36019

Could someone write client side code to test the multisig gateway? It can be command line, nothing fancy, just as long as its not Windows Smiley

Initially, all gateway requests are done via AM, so you just need to fill out the gateway_AM structure and send the AM to the issuer NXT account 18232225178877143084

For deposits gatewayid needs to be 0 for now, withdrawals can be sent to 0, 1 or 2
coinid is 1 for DOGE
#define GATEWAY_SIG 0xdadafeed

// API funcids
#define GET_COINDEPOSIT_ADDRESS 'g' // set NXTaddr, only gateway 0 for now
#define BIND_DEPOSIT_ADDRESS 'b' // result of GET_COINDEPOSIT_ADDRESS

#define NOTIFY_PENDING_DEPOSIT 'n' // set NXTaddr, coinaddr and amount, only gateway 0 for now
#define MONEY_DEPOSITED 'd' // gateway response after it is confirmed, swept to multisig

#define WITHDRAWAL_REQUEST 'w' // set NXTaddr, coinaddr, txid and amount AFTER transferring coin asset back
#define MONEY_SENT 'm' // gateway response after it verifies you transferred asset back and will match the amount you redeemed.

First you need to get a deposit address by sending a GET_COINDEPOSIT_ADDRESS gateway_AM to gateway.0, the next block you should find a BIND_DEPOSIT_ADDRESS AM sent to 18232225178877143084 with your deposit address. You can reuse, or get new ones. Not much anonymity by getting new ones, since it is all public info. NXTcash for anonymity.

Now just send DOGE to your deposit address and send a NOTIFY_PENDING_DEPOSIT with the amount. When the gateway gets it, your NXT acct will get the coin asset.
....
<lots of trading within AE, coin asset can end up with anyone>
....
To withdraw, just transfer the coin asset back to  18232225178877143084 and send a WITHDRAWAL_REQUEST AM. The gateways will do a multisig payment and post MONEY_SENT AM after its on its way.


Code:

struct gateway_info  // this struct is very incomplete, still a work in progress
{
    double balance,deposits,withdrawals,tbd __attribute__ ((packed));
    int bind_requests,addresses_bound,deposit_txids,pending_sweeps,verified_deposits __attribute__ ((packed));
    int withdrawal_requests,moneysent,pending_withdrawals,failed_withdrawals __attribute__ ((packed));
    int rawbroadcasts,pending_redemptions __attribute__ ((packed));
};

struct gateway_AM
{
    unsigned int sig __attribute__ ((packed));
    int funcid __attribute__ ((packed));
    int gatewayid __attribute__ ((packed));
    int coinid __attribute__ ((packed));
    double amount __attribute__ ((packed));
    double unspent __attribute__ ((packed));
    double change __attribute__ ((packed));
    char NXTaddr[32],coinaddr[32];
    union { char txid[128]; char rawtransaction[288]; };
    union { char inputs[512]; };
    struct gateway_info info;
};


Once there is client side code for this, it can easily be integrated into any GUI so we can have crypto gateways built into NXT GUIs. Any feedback is much appreciated. The .01 NXT resolution in AE is an issue for low value things like DOGE, but since its testnet, I will ignore this for now.

It would really help if somebody other than me worked on this. A lot of money could flow through this code. Want to be sure its super solid.

James

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February 21, 2014, 07:41:09 AM
 #36020

In Bitcointalk, the main Bitcoin forum, several users are organizing to sue jointly to Mt Gox and claim their money. In Japan demands joint work differently, so it really will be several individual complaints on the same matter. The demand itself organizer recommends that stakeholders have caught at least $ 10,000 in Mt Gox to be viable. It also recommends having the money in dollars rather than  Bitcoin because is clearer recovery process in case of bankruptcy of the company.

This may be the reason for the recent sell Bitcoin anywhere.
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