NXT :: descendant of Bitcoin - Updated Information

[chanc3r]

On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.

Curious too....
A lot of this mindless computation is SHA specific asic not general purpose CPU - so what business problems can you solve ?
Intrigued - when will you elaborate?

[jl777]

On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.

For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?

The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.

I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.

James

Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from?  

The NXTcoin will be aggregating the computing power (previously wasted) into a coordinated cloud supercomputer. I will integrate business useful functionality right into the coin, so if I do my job correctly, the businesses that find access to a cloud supercomputer useful will pay for usage. I plan on charging in NXT. This creates a unique use for NXT as no other currency would be able to directly purchase access to the coin supercomputer

James

Edit: I am not talking about pie in the sky brute force searching for genome markers that WCG does. I am talking direct computation of things that business want.

[wesleyh]

Please send testnxt to 9827273118446850628 - thx!

[jl777]

Please send testnxt to 9827273118446850628 - thx!

Weve been forging for a while. Does anybody have testnxt?

[igmaca]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

I have the active 0.8.1.e client and I can not connect through the client file :/ / / C :/ nxt / html / tools / dev / dev / index.html #

[joefox]

Re-posting my Public Service Announcement:

If you are new to Nxt and don't want to read through 1937 pages of posts, come to the wiki, parts of which are now available in nineteen languages:
- Learn about Nxt
- Get started
- get basic questions answered in the FAQ and common problems pages
- Learn how to set up a public node on a VPS
- read up on the Nxt high-level API, which you can use to build apps, games, clients, utilities, and more
- find additional resources for programmers, including suggested methods for integrating Nxt with your sites, API documentation, software change logs, a PHP library, and more.
- check out the current draft version of the Nxt whitepaper, which is being built and refined by top community contributors (it's still rough, but there's lots of great content already)

There are also great forums with lots of info and support for beginners. Many of the best Nxt wiki articles are based on information originally contributed here:
- The nxtcrypto.org forum
- The nextcoin.org forum

... and don't forget our Nxt sites (and these are just the English ones):
- http://www.nxtcrypto.org
- http://mynxt.org
- http://nxtarea.com/

Wiki contributors pull information from these threads every day to keep the wiki up to date. You can also help contribute, or translate.

This thread is long (oh BOY is it long) and daunting for new folks, and most of the conversation here is not helpful for beginners.  So don't get frustrated -- come to the place where all the details are being collected!

[wesleyh]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

I have the active 0.8.1.e client and I can not connect through the client file :/ / / C :/ nxt / html / tools / dev / dev / index.html #

You should put it at tools/dev not tools/dev/dev (but it shouldn't matter).

You are acessing it through http://localhost:7876/dev/ right? Do not double click on index.html as it will open via file:// which does not work.

[igmaca]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

I have the active 0.8.1.e client and I can not connect through the client file :/ / / C :/ nxt / html / tools / dev / dev / index.html #

You should put it at tools/dev not tools/dev/dev (but it shouldn't matter).

You are acessing it through http://localhost:7876/dev/ right? Do not double click on index.html as it will open via file:// which does not work.

Go! Google Chrome could not find the page localhost: 7876.

[wesleyh]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

I have the active 0.8.1.e client and I can not connect through the client file :/ / / C :/ nxt / html / tools / dev / dev / index.html #

You should put it at tools/dev not tools/dev/dev (but it shouldn't matter).

You are acessing it through http://localhost:7876/dev/ right? Do not double click on index.html as it will open via file:// which does not work.

Go! Google Chrome could not find the page localhost: 7876.

Have you just clicked the link here:

http://localhost:7876/dev/

That should work, otherwise your java may not be running. Check if http://localhost:7875 works

Anyway, I'm off, will answer questions later.

[msin]

On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.

For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?

The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.

I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.

James

Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from?  

The NXTcoin will be aggregating the computing power (previously wasted) into a coordinated cloud supercomputer. I will integrate business useful functionality right into the coin, so if I do my job correctly, the businesses that find access to a cloud supercomputer useful will pay for usage. I plan on charging in NXT. This creates a unique use for NXT as no other currency would be able to directly purchase access to the coin supercomputer

James

Edit: I am not talking about pie in the sky brute force searching for genome markers that WCG does. I am talking direct computation of things that business want.

Interesting, I could see many coins being built with this model in mind, a coin that provides a service, paid for in Nxt, and mined to keep the network strong.

[igmaca]

Hey guys,

To those that have tried my web client http://nxtra.org/nxt-client ; A beta version is now available for download here:

http://nxtra.org/nxt-client/dev.zip

Unzip, move the dev folder to nxt/html/tools/dev

Then go to http://localhost:7876/dev

This is assuming you have 0.8.1e installed (it will not work correctly on older versions!) - do not try

I suggest you connect to TestNet first though; in the upper left corner you can switch between TestNet and localhost. Try everything out in TestNet first, when you are comfortable you can connect locally. There may still be errors in the code, it's a beta after all.

Not everything is done yet, and Internet Explorer is completely untested. I suggest you use either chrome/firefox or safari for now.

Also need to do some more interactive updating after submission of forms, etc.

if you want, you can send me a message there via the alias wesleynxt (just open the send message dialog and type wesleynxt in the account field). Messages are not yet encrypted.

Let me know what you think.

I have the active 0.8.1.e client and I can not connect through the client file :/ / / C :/ nxt / html / tools / dev / dev / index.html #

You should put it at tools/dev not tools/dev/dev (but it shouldn't matter).

You are acessing it through http://localhost:7876/dev/ right? Do not double click on index.html as it will open via file:// which does not work.

Go! Google Chrome could not find the page localhost: 7876.

Have you just clicked the link here:

http://localhost:7876/dev/

That should work, otherwise your java may not be running. Check if http://localhost:7875 works

Anyway, I'm off, will answer questions later.

Go! Google Chrome could not find the page localhost: 7875
java is working because nrs client 8.0.1e is working well

[cc001]

could anybody send some testNXT to 14982679201235752929 please? thanks

[rickyjames]

Please run for infrastructure committee! These are some cool ideas. We might get emergent behavior from a self-organizing network.

Thanks James.
This is the stuff I know from my time in telco and real time finance and am interested in (apart from Nxtopia  )...
I thought this stuff was techdev because its software, but if its infrastructure I'll drop ricky a note about switching although I think that group already has some strong and well respected candidates.

I second that, otherwise I might have to put myself up as candidate for infrastructure committee.
(I'm not joking, can't let RJ be supreme lord of infrastructure all by his ownsome)

Curses!  I would have gotten away with it all, if not for you little kids!

[EvilDave]

2036840723237273850, thanks a lot!

But please hold on, I didn't yet do anything useful   

So start.....what can u do?

And to anyone and everyone sitting on the sidelines: GET INVOLVED !

Every small contribution helps.
If u want to actively help NXT:  get off yr ass, look around, find somewhere u can help and dive on in.
Don't hang back because u might not want to look foolish or make a mistake.
No one here is perfect, (except me, of course), just do your best.

Surely, no one sitting on the sidelines can resist such an invitation. One humble question: does translating around 500 wiki entries count as an involvement?

My remark about "anything useful" meant that I'm really interesting in constructing a reasonable math model to estimate probabilities of a successful attack on the network, but didn't yet advance too much on this.

ooopsss.......maybe I should have been a little less blunt.
Yes, 500 wiki entries counts.  
Sorry, I took your "I didnt yet do anything useful"post at face value, didn't mean to tread on your toes.
My call to arms was really intended as a general shout out to anyone and everyone who is on the bench right now.
So i'll apply a quick edit......good work with the Wiki and the brain-melting math, btw.

[Damelon]

2036840723237273850, thanks a lot!

But please hold on, I didn't yet do anything useful  

So start.....what can u do?

And to anyone and everyone sitting on the sidelines: GET INVOLVED !

Every small contribution helps.
If u want to actively help NXT:  get off yr ass, look around, find somewhere u can help and dive on in.
Don't hang back because u might not want to look foolish or make a mistake.
No one here is perfect, (except me, of course), just do your best.

Surely, no one sitting on the sidelines can resist such an invitation. One humble question: does translating around 500 wiki entries count as an involvement?

My remark about "anything useful" meant that I'm really interesting in constructing a reasonable math model to estimate probabilities of a successful attack on the network, but didn't yet advance too much on this.

ooopsss.......maybe I should have been a little less blunt.
Yes, 500 wiki entries counts.  
Sorry, I took your "I didnt yet do anything useful"post at face value, didn't mean to tread on your toes.
My call to arms was really intended as a general shout out to anyone and everyone who is on the bench right now.
So i'll apply a quick edit......good work with the Wiki and the brain-melting math, btw.

500 wiki entries is PEANUTS!



(I need to get off my ass before the month ends, though)

[igmaca]

P.S. I am looking for people to help me with my business coin. I think I can do most all the tech myself as all the hard work is already done with NXT. I just dont have the skills to do a decent website, nor the time to market this.

Hi James.

Very good idea. I can help you getting attention in Germany. Will write about this in my blog.

I can help in Spain if you want

[EvilDave]

@damelon: u got any plans for Thursday night?
(asks innocently)

[mthcl]

2036840723237273850, thanks a lot!

But please hold on, I didn't yet do anything useful   

So start.....what can u do?

And to anyone and everyone sitting on the sidelines: GET INVOLVED !

Every small contribution helps.
If u want to actively help NXT:  get off yr ass, look around, find somewhere u can help and dive on in.
Don't hang back because u might not want to look foolish or make a mistake.
No one here is perfect, (except me, of course), just do your best.

Surely, no one sitting on the sidelines can resist such an invitation. One humble question: does translating around 500 wiki entries count as an involvement?

My remark about "anything useful" meant that I'm really interesting in constructing a reasonable math model to estimate probabilities of a successful attack on the network, but didn't yet advance too much on this.

ooopsss.......maybe I should have been a little less blunt.
Yes, 500 wiki entries counts.  
Sorry, I took your "I didnt yet do anything useful"post at face value, didn't mean to tread on your toes.
My call to arms was really intended as a general shout out to anyone and everyone who is on the bench right now.
So i'll apply a quick edit......good work with the Wiki and the brain-melting math, btw.

No problem, it's all right 

[jl777]

On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.

For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?

The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.

I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.

James

Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from?  

The NXTcoin will be aggregating the computing power (previously wasted) into a coordinated cloud supercomputer. I will integrate business useful functionality right into the coin, so if I do my job correctly, the businesses that find access to a cloud supercomputer useful will pay for usage. I plan on charging in NXT. This creates a unique use for NXT as no other currency would be able to directly purchase access to the coin supercomputer

James

Edit: I am not talking about pie in the sky brute force searching for genome markers that WCG does. I am talking direct computation of things that business want.

Interesting, I could see many coins being built with this model in mind, a coin that provides a service, paid for in Nxt, and mined to keep the network strong.

Yes. This is why it is important to have the NXTcoins layer. If we make the path of least resistance the path that makes people create a useful service by utilizing the miner's resources, then we will have dozens of NXTcoins, all paying dividends in NXT. Thus attracting investors, which gets more miners and all the while the NXT network gets stronger and stronger and demand for NXT also keeps growing.

It took me a while, but I feel like I am finally getting somewhat up to speed with the full potential of crypto in general and NXT specifically.

James

[jl777]

P.S. I am looking for people to help me with my business coin. I think I can do most all the tech myself as all the hard work is already done with NXT. I just dont have the skills to do a decent website, nor the time to market this.

Hi James.

Very good idea. I can help you getting attention in Germany. Will write about this in my blog.

I can help in Spain if you want

Great! I have and will continue to post more and more details about NXTcoins. Feel free to translate, paraphrase, post, twitter, blog, etc.