NXT :: descendant of Bitcoin - Updated Information

[mcjavar]

any opinions on skycoin? scam? it looks legit sorta to me but not very well supported??

link?

[redsn0w]

nostalgia: https://bitcointalk.org/index.php?topic=444.msg3866#msg3866

 

[Sebastien256]

We need to focus. I need to focus. Thoughts.


BCNext's idea was, speaking of forging incentives, to get rid of transaction fees. The idea is that companies, who use Nxt (as a platform, as their payment provider, as what ever), earn money with their services, and thereby have an interest in running nxt nodes to provide stability for it.

But BCNext doesn't live in fairy land (well, sometimes he does, i think) and knows that thousands of companies will not get built on top of nxt or use nxt right now but in the future. First, we need to provide a stable and secure network to (potential new) businesses before they use it. That's why the first plan is building Nxt as a currency to get a wide adoption. I don't think we are there yet. Only because we know the 2nd plan doesn't mean we have to jump on it. Or should we? And, of course, trust no one, we don't need to follow his ideas, yada yada yada. Well, he is a smart guy. Let's think about it:

We need fees right now to have an incentive for forging (and maybe a better fees structure, like the hallmark idea) and we don't know for how long. But we should also get rid of fees to make it possible for companies to use Nxt. This chicken and egg problem can only be solved with a gradually decrease of fees and give Nxt a kickstart with paid infrastructure for the next months (years, we don't know). Or is there another solution?

If this is correct, we should talk about how we will come to a consensus about decreasing fees in the future. And our infrastructure committee (not in place yet) should go to work on nerdy things for stability, 1000TPS, .. as soon as possible.

Also, how do we prevent spamming when there are no fees? Maybe we should have different fees on different parallel blockchains.


Penalties. At least it was part of BCNext's idea that we should penalize accounts who don't forge. I don't see a problem here as long as we talk about proper penalty. Not allowed to forge for the next 1440 blocks seems fair.


I want to know where I'm wrong and I want to hear CfB on both topics.

I don't know if u wrong or not.

Let put some coin miner on top of NXT network, I believe enough computers will be online maintaining the NXT network with that. If you want loyal miner, you have to made a PoW scheme that is scientifically useful, like primecoin, riecoin or gridcoin.

One simple easy idea if possible, for a start, would be to combine primecoin and riecoin algorithm in one PoW coin. Odd BLOCK is on primecoin algo, Even BLOCK is on riecoin algo. People that like science would like to contribute evenly to both prime number research.

Personnaly, I don't think NXT can have much sucess as a first gen currency, bitcoin is there for that. I would focus on second gen feature.

[redsn0w]

Did you see this ?

Quotes : NXT/BTC: 0.00008746 | BTC/USD: 521.46   

[Choboy]

Am I forging right? I bought a BTC worth of NXT a few days ago, so I have around 11.5k. All I have to do is leave on my NXT client (NRS 0.7.6) and forging will happen by itself? The past few pages have been talking about how to change up forging to be more profitable... but my question is, how do I check on the progress of my forging?

Thanks! And happy NXTing!

[bitcoinpaul]

trust no one.

[Eadeqa]

I think we should try to get off BTC and start trading Nxt for FIAT. If the price of BTC goes down, so goes the price of Nxt, although the whole MtGox-stor has nothing to do with Nxt.

Sure it does. Bitcoin is crypto currency, so is Nxt. If bitcoin goes down and dies, good luck in convincing people again that this idea has any worth.  

If bitcoin goes to zero, i will bet most govts will declare crypto illegal, probably a felony, in the name of "protecting" consumers.

[martismartis]

Other cryptocurrency wallets believed to have been vulnerable to Pony theft are:

Anoncoin   BBQcoin   Bytecoin   Craftcoin   Devcoin   Digitalcoin
Fastcoin   Feathercoin   Florincoin   Franko   Freicoin   GoldCoin
I0coin   Infinitecoin   Ixcoin   Junkcoin   Litecoin   Luckycoin
Mincoin   Namecoin   NovaCoin   Phoenixcoin   PPCoin   Primecoin
Quarkcoin   Tagcoin   Terracoin   Worldcoin   Yacoin   Zetacoin
 

Nice not to see NXT here

[BitcoinForumator]

Other cryptocurrency wallets believed to have been vulnerable to Pony theft are:

Anoncoin   BBQcoin   Bytecoin   Craftcoin   Devcoin   Digitalcoin
Fastcoin   Feathercoin   Florincoin   Franko   Freicoin   GoldCoin
I0coin   Infinitecoin   Ixcoin   Junkcoin   Litecoin   Luckycoin
Mincoin   Namecoin   NovaCoin   Phoenixcoin   PPCoin   Primecoin
Quarkcoin   Tagcoin   Terracoin   Worldcoin   Yacoin   Zetacoin
 

Nice not to see NXT here

What's a Pony theft?

[Sebastien256]

finally with get ride of Mt Gox!
https://www.mtgox.com/

[martismartis]

Other cryptocurrency wallets believed to have been vulnerable to Pony theft are:

Anoncoin   BBQcoin   Bytecoin   Craftcoin   Devcoin   Digitalcoin
Fastcoin   Feathercoin   Florincoin   Franko   Freicoin   GoldCoin
I0coin   Infinitecoin   Ixcoin   Junkcoin   Litecoin   Luckycoin
Mincoin   Namecoin   NovaCoin   Phoenixcoin   PPCoin   Primecoin
Quarkcoin   Tagcoin   Terracoin   Worldcoin   Yacoin   Zetacoin
 

Nice not to see NXT here

What's a Pony theft?

Trojan

[farl4web]

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?

What are you talking about? Nodes to secure the network OR accounts that are forging. 2 different things

[farl4web]

Am I forging right? I bought a BTC worth of NXT a few days ago, so I have around 11.5k. All I have to do is leave on my NXT client (NRS 0.7.6) and forging will happen by itself? The past few pages have been talking about how to change up forging to be more profitable... but my question is, how do I check on the progress of my forging?

Thanks! And happy NXTing!

If you account is unlocked, your forging! 

[igmaca]

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?

What are you talking about? Nodes to secure the network OR accounts that are forging. 2 different things

I propose that the account in its node forge

Only to the pool is transferred rights fees

[Choboy]

Am I forging right? I bought a BTC worth of NXT a few days ago, so I have around 11.5k. All I have to do is leave on my NXT client (NRS 0.7.6) and forging will happen by itself? The past few pages have been talking about how to change up forging to be more profitable... but my question is, how do I check on the progress of my forging?

Thanks! And happy NXTing!

If you account is unlocked, your forging! 

Thanks for the confirmation! Yes my account is unlocked (you mean literally an unlocked picture at the top left of the client right? I also viewed the video explaining NXT but I am still confused about the Two Arrows, Globe, Puzzle Piece, and Person Picture (@ the top middle section of the client). Do one of these four sections tell me my forging progress?

And what's the point of the globe? Why do I want to look at my peers?

[opticalcarrier]

If you enable SSL, you need to set nxt.keyStorePath and nxt.keyStorePassword, and obviously you need to have your own SSL certificate (self-signed or signed by a CA) in a keystore file.

How i can make a self-signed certificate? Some guide step to step?

look in wiki under howto guides

[VanBreuk]

NXT Newsletter #3  

http://nxter.org/nxt-newsletter-3/

Thanks! reading it now and looking good as usual.

-----

And just a thought I wanted to leave here. With the last debacle in MtGox, twitter is seething with references to P2P, decentralized exchanges. I'm seeing links to http://www.coinffeine.com/ all the time. We have a wave to ride there now. I understand people is upset with mintpal (a damn fine exchange site, imo) and any swarm efforts are good and getting into new exchanges is always good and all, but right now it does not seem a priority when we have assets of our own, pun intended, that will return much more.

Regarding implementation of asset exchange, new tests and developments, what news do we have to show? Statements, screenshots, articles... we should keep producing materials around it. Translate for the crowd the progress being made. Other than "tests keep coming nicely and neurons keep sparking" what can we show? We have a great momentum out there.

I think we should try to get off BTC and start trading Nxt for FIAT. If the price of BTC goes down, so goes the price of Nxt, although the whole MtGox-stor has nothing to do with Nxt.

Get asset exchange online and working and both the fiat price and the link between Nxt and gox will stop being a concern.

[bitcoinpaul]

We need to focus. I need to focus. Thoughts.


BCNext's idea was, speaking of forging incentives, to get rid of transaction fees. The idea is that companies, who use Nxt (as a platform, as their payment provider, as what ever), earn money with their services, and thereby have an interest in running nxt nodes to provide stability for it.

But BCNext doesn't live in fairy land (well, sometimes he does, i think) and knows that thousands of companies will not get built on top of nxt or use nxt right now but in the future. First, we need to provide a stable and secure network to (potential new) businesses before they use it. That's why the first plan is building Nxt as a currency to get a wide adoption. I don't think we are there yet. Only because we know the 2nd plan doesn't mean we have to jump on it. Or should we? And, of course, trust no one, we don't need to follow his ideas, yada yada yada. Well, he is a smart guy. Let's think about it:

We need fees right now to have an incentive for forging (and maybe a better fees structure, like the hallmark idea) and we don't know for how long. But we should also get rid of fees to make it possible for companies to use Nxt. This chicken and egg problem can only be solved with a gradually decrease of fees and give Nxt a kickstart with paid infrastructure for the next months (years, we don't know). Or is there another solution?

If this is correct, we should talk about how we will come to a consensus about decreasing fees in the future. And our infrastructure committee (not in place yet) should go to work on nerdy things for stability, 1000TPS, .. as soon as possible.

Also, how do we prevent spamming when there are no fees? Maybe we should have different fees on different parallel blockchains.


Penalties. At least it was part of BCNext's idea that we should penalize accounts who don't forge. I don't see a problem here as long as we talk about proper penalty. Not allowed to forge for the next 1440 blocks seems fair.


I want to know where I'm wrong and I want to hear CfB on both topics.

Pump. CfB has no answer.

[mcjavar]

NXT Newsletter #3  

http://nxter.org/nxt-newsletter-3/

Thanks! reading it now and looking good as usual.

-----

And just a thought I wanted to leave here. With the last debacle in MtGox, twitter is seething with references to P2P, decentralized exchanges. I'm seeing links to http://www.coinffeine.com/ all the time. We have a wave to ride there now. I understand people is upset with mintpal (a damn fine exchange site, imo) and any swarm efforts are good and getting into new exchanges is always good and all, but right now it does not seem a priority when we have assets of our own, pun intended, that will return much more.

Regarding implementation of asset exchange, new tests and developments, what news do we have to show? Statements, screenshots, articles... we should keep producing materials around it. Translate for the crowd the progress being made. Other than "tests keep coming nicely and neurons keep sparking" what can we show? We have a great momentum out there.

I think we should try to get off BTC and start trading Nxt for FIAT. If the price of BTC goes down, so goes the price of Nxt, although the whole MtGox-stor has nothing to do with Nxt.

Get asset exchange online and working and both the fiat price and the link between Nxt and gox will stop being a concern.

AE is only a tool, not a gateway.

[opticalcarrier]

I seem to have some config param missing in my raspi - when I start 0.8.1e using:       java -Xmx128M -Xmx480M -cp nxt.jar:lib/*:conf nxt.Nxt

 most of the startup process incl. starting blockachin seems to go well, but it crashes when launching the ui server:


[2014-02-25 10:05:15.203] shareMyAddress is disabled, will not start peer networking server
[2014-02-25 10:05:15.289] nxt.allowedBotHosts = "127.0.0.1; localhost; 192.168.178:25; 192.168.178.26; 0:0:0:0:0:0:0:1;"
[2014-02-25 10:05:15.300] nxt.enableAPIServer = "true"
[2014-02-25 10:05:15.304] nxt.apiServerPort = "7876"
[2014-02-25 10:05:15.312] nxt.apiServerHost = "127.0.0.1"
[2014-02-25 10:05:15.701] nxt.apiSSL = "false"
[2014-02-25 10:05:15.976] nxt.apiServerIdleTimeout = "30000"
[2014-02-25 10:05:16.002] nxt.apiResourceBase = "html/tools"
[2014-02-25 10:05:16.318] nxt.javadocResourceBase = "html/doc"
[2014-02-25 10:05:16.727] nxt.apiServerCORS = "false"
[2014-02-25 10:05:16.814] nxt.allowedUserHosts = "127.0.0.1; localhost; 0:0:0:0:0:0:0:1;"
[2014-02-25 10:05:16.820] nxt.enableUIServer = "true"
[2014-02-25 10:05:16.825] nxt.uiServerPort = "7875"
[2014-02-25 10:05:16.833] nxt.uiServerHost = "127.0.0.1; 0.0.0.0"
[2014-02-25 10:05:16.838] nxt.uiSSL = "false"
[2014-02-25 10:05:16.846] nxt.uiServerIdleTimeout = "30000"
[2014-02-25 10:05:16.851] nxt.uiResourceBase = "html/nrs"
[2014-02-25 10:05:16.857] nxt.javadocResourceBase = "html/doc"
[2014-02-25 10:05:16.870] nxt.uiServerCORS = "false"
[2014-02-25 10:05:17.123] Genesis block already in database
[2014-02-25 10:05:17.129] Scanning blockchain...
[2014-02-25 10:05:30.649] ...done
[2014-02-25 10:05:31.182] Started API server at 127.0.0.1:7876
[2014-02-25 10:05:31.306] DEBUG: Failed to start user interface server


However, on my regular workstation 0.8.1e starts without trouble:

[2014-02-25 09:34:35.931] Genesis block already in database
[2014-02-25 09:34:35.931] Scanning blockchain...
[2014-02-25 09:34:47.923] ...done
[2014-02-25 09:34:48.063] Started peer networking server at 0.0.0.0:7874
[2014-02-25 09:34:48.066] Started API server at 127.0.0.1:7876
[2014-02-25 09:34:48.095] Started user interface server at 127.0.0.1:7875
[2014-02-25 09:34:48.098] Nxt server 0.8.1e started successfully.
[2014-02-25 09:41:59.910] nxt.apiServerEnforcePOST = "false"



What setting did I miss?


the console gives a stacktrace:


java.net.SocketException: Unresolved address
   at sun.nio.ch.Net.translateToSocketException(Net.java:157)
   at sun.nio.ch.Net.translateException(Net.java:183)
   at sun.nio.ch.Net.translateException(Net.java:189)
   at sun.nio.ch.ServerSocketAdaptor.bind(ServerSocketAdaptor.java:76)
   at org.eclipse.jetty.server.ServerConnector.open(ServerConnector.java:279)
   at org.eclipse.jetty.server.AbstractNetworkConnector.doStart(AbstractNetworkConnector.java:80)
   at org.eclipse.jetty.server.ServerConnector.doStart(ServerConnector.java:218)
   at org.eclipse.jetty.util.component.AbstractLifeCycle.start(AbstractLifeCycle.java:69)
   at org.eclipse.jetty.server.Server.doStart(Server.java:336)
   at org.eclipse.jetty.util.component.AbstractLifeCycle.start(AbstractLifeCycle.java:69)
   at nxt.user.Users$1.run(Users.java:153)
   at nxt.util.ThreadPool.start(ThreadPool.java:38)
   at nxt.Nxt$Init.<clinit>(Nxt.java:187)
   at nxt.Nxt.init(Nxt.java:156)
   at nxt.Nxt.main(Nxt.java:147)
Caused by: java.nio.channels.UnresolvedAddressException
   at sun.nio.ch.Net.checkAddress(Net.java:127)
   at sun.nio.ch.ServerSocketChannelImpl.bind(ServerSocketChannelImpl.java:208)
   at sun.nio.ch.ServerSocketAdaptor.bind(ServerSocketAdaptor.java:74)
   ... 11 more

nxt.allowedBotHosts = "127.0.0.1; localhost; 192.168.178:25; 192.168.178.26; 0:0:0

get rid of thta :25?