NXT :: descendant of Bitcoin - Updated Information

[Jean-Luc]

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Release 0.8.7

http://download.nxtcrypto.org/nxt-client-0.8.7.zip

sha256: e2322bd01fe303d74511b377468f1ceaf51d623dc41f6f3044c22146d883911a


Change log:

Fixed unconfirmed balance calculations for the genesis block
account.

Fixed the display of the genesis account balance in the NRS UI.


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[bidji29]

they find satoshi nakamoto?
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

So BCnext left NXT project just when Satoshi Nakamoto identity was discovered (but not yet published).....

[nxtsky]

they find satoshi nakamoto?
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

So BCnext left NXT project just when Satoshi Nakamoto identity was discovered (but not yet published).....

If NXT succeed, The identity of BCnext will be revealed some day. IMO.
If NXT failed, nobody cares who is BCnext.

[mcjavar]

It seems that the AUR bubble popped.

[Mistafreeze]

Nxt 0.8.7 Windows Installer released.
This is for Main Net, not test.

https://nextcoin.org/index.php/topic,1902.0.html

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Release 0.8.7

http://download.nxtcrypto.org/nxt-client-0.8.7.zip

sha256: e2322bd01fe303d74511b377468f1ceaf51d623dc41f6f3044c22146d883911a


Change log:

Fixed unconfirmed balance calculations for the genesis block
account.

Fixed the display of the genesis account balance in the NRS UI.

[SkillRoad]

Well, you can do everything whilst it's downloading the blockchain, of course you'll only get your balance once it reaches the correct block.
It opens NRS in the background, yes, locally.

Does it shut down NRS when you close it?

Yes.

Cool. You should add some kind of random password generator for creating new accounts, and then it should be distributed with all new NRS releases as a default client

Not sure if there is a good and secure javascript.random available - However if you open the app and choose register new account, (new users will probably do this although they could just login), then it requires special characters, minimum length, etc.

very good service for creating passwords, select the appropriate option http://www.newpasswordgenerator.com/
in the future, of course you want a built-in password generator




_______________________________________________________________________________ _________________________________
Next Coin Lite - Fair Distribution

[l8orre]

Well, you can do everything whilst it's downloading the blockchain, of course you'll only get your balance once it reaches the correct block.
It opens NRS in the background, yes, locally.

Does it shut down NRS when you close it?

Yes.

Cool. You should add some kind of random password generator for creating new accounts, and then it should be distributed with all new NRS releases as a default client

Not sure if there is a good and secure javascript.random available - However if you open the app and choose register new account, (new users will probably do this although they could just login), then it requires special characters, minimum length, etc.

very good service for creating passwords, select the appropriate option http://www.newpasswordgenerator.com/
in the future, of course you want a built-in password generator




_______________________________________________________________________________ _________________________________
Next Coin Lite - Fair Distribution

oh, please:


import numpy as np

import sys
import string
 

def main():
    selChars = string.ascii_letters+ string.digits
    print( selChars)
    numPws=50
    pwLen=80
   
    for pwNum in range(numPws):
        pwDigs=np.random.randint(0,62,pwLen)
        pw=''
        for dig in pwDigs:
            pw += selChars[dig]
        print(pw)

if __name__=='__main__':
    main()

[redsn0w]

oh, please:


import numpy as np

import sys
import string
 

def main():
    selChars = string.ascii_letters+ string.digits
    print( selChars)
    numPws=50
    pwLen=80
   
    for pwNum in range(numPws):
        pwDigs=np.random.randint(0,62,pwLen)
        pw=''
        for dig in pwDigs:
            pw += selChars[dig]
        print(pw)

if __name__=='__main__':
    main()

xD  this is amazing !

[opticalcarrier]

Anyone likes my idea a Electrum-like passphrase generator to be included in Nxt clients? Today there are two new stories of newbies who had their Nxt stolen because they used a weak password

https://nextcoin.org/index.php/topic,4316.0.html

I think we are waiting for full client-side javascript signing where the passphrase is completely abstracted from any server.  When this is completed we could easily accomplish what you are suggesting on every nxt site out there:  nxtcrypto, mynext, etc etc and the user can then use APIs embedded into the javascript to view balances and perform transactions ,etc

[opticalcarrier]

This is weird. One one hand people complain about "fees" being too high, on the other hand they want to make money by "forging" These are contradictory statements.

Well, I guess the point is that there is actually no incentive to secure the network as one is not suitably rewarded by forging. This is a critical issue.

IMO you are absolutely right.  Us stakeholders who got in at the beginning will forge, and surely quite a few others will, but Im not sure if we will ever see a truly large network of forgers in the near future.  Maybe when NXT as a base structure protocol takes off, then the services that operate on top of NXT will  also pitch in, but as it sits now, forging really isnt all that profitable at all.  Add to that we are planning on reducing the fee by 1/10 and possibly even more in the future...

I think we do need to rethink things - yes, the forging NXT vs mining BTC argument of no equipment depreciation vs NXT appreciation is valid, but still, there really is no profit to be made in forging.

Lets consider BTC in 2140, where there are only fees, or even earlier than that, when block reward is well under the current 25 BTC (I think 25) per block.  What are fees going to look like then?  Can we then expect the mining network to be MUCH smaller than it is now, since we believe the return wont be nearly as high?

We have to consider these things.  Im not sure where to go, I think people smarter than me should weigh in for strategy.  But I think we do need to adopt a different strategy/position than our current position's forging NXT vs mining BTC argument of no equipment depreciation vs NXT appreciation.

[ShroomsKit_Disgrace]

they find satoshi nakamoto?
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

Imagine that, now that we know who Satoshi is, they find that he is also BCNext....NXT to da mooonnnn!!!!  

[Uniqueorn]

This is weird. One one hand people complain about "fees" being too high, on the other hand they want to make money by "forging" These are contradictory statements.

Well, I guess the point is that there is actually no incentive to secure the network as one is not suitably rewarded by forging. This is a critical issue.

IMO you are absolutely right.  Us stakeholders who got in at the beginning will forge, and surely quite a few others will, but Im not sure if we will ever see a truly large network of forgers in the near future.  Maybe when NXT as a base structure protocol takes off, then the services that operate on top of NXT will  also pitch in, but as it sits now, forging really isnt all that profitable at all.  Add to that we are planning on reducing the fee by 1/10 and possibly even more in the future...

I think we do need to rethink things - yes, the forging NXT vs mining BTC argument of no equipment depreciation vs NXT appreciation is valid, but still, there really is no profit to be made in forging.

Lets consider BTC in 2140, where there are only fees, or even earlier than that, when block reward is well under the current 25 BTC (I think 25) per block.  What are fees going to look like then?  Can we then expect the mining network to be MUCH smaller than it is now, since we believe the return wont be nearly as high?

We have to consider these things.  Im not sure where to go, I think people smarter than me should weigh in for strategy.  But I think we do need to adopt a different strategy/position than our current position's forging NXT vs mining BTC argument of no equipment depreciation vs NXT appreciation.

To be fair: in 2140, if  Bitcoin is still around, hell if even the concept of ownership of money as we know it today is still around 130 years from now then we have failed as a species ;P

[Uniqueorn]

they find satoshi nakamoto?
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

Imagine that, now that we know who Satoshi is, they find that he is also BCNext....NXT to da mooonnnn!!!!  

No this is bad. The journalist should be beaten with a stick.
Going out of your way to find this person when he has made every effort to stay anonymous and when he has rejected you over and over, is disgraceful and unethical as hell. I hope this journalist gets fired. Even posted a fucking image of his house...

[gs02xzz]

If you´ve read my PM, I am trying to help you build a core dev team...

In addition to Java developers, and in fact much more urgently, we need a good cryptographer. This person doesn't even need to be that fluent in Java, the language background wouldn't matter (well, he should at least be able to read and understand the Java code). But I don't have much cryptography background myself, so this is an area where we currently lack skills, especially after the departure of BCNext.

Doctorevil seems pretty good and he mentioned before that he could help as a consultant. https://nextcoin.org/index.php/topic,3884.msg36769.html#msg36769

Ricot and Broodyrookie seem pretty good too.

[opticalcarrier]

whatever ! I rest my case with this. I was testing constantly!

james, I will not COMPLAIN ANYMORE.

wish you all the best and hope you finally produce something out of your pages of ideas and dreams.

Im going to call you out on this.  that was rude and uncalled for.  

[Uniqueorn]

If you´ve read my PM, I am trying to help you build a core dev team...

In addition to Java developers, and in fact much more urgently, we need a good cryptographer. This person doesn't even need to be that fluent in Java, the language background wouldn't matter (well, he should at least be able to read and understand the Java code). But I don't have much cryptography background myself, so this is an area where we currently lack skills, especially after the departure of BCNext.

Doctorevil seems pretty good and he mentioned before that he could help as a consultant. https://nextcoin.org/index.php/topic,3884.msg36769.html#msg36769

Ricot and Broodyrookie seem pretty good too.

I am waiting to hear back from a couple of guys that I have contacted who are hghly regarded in the Bitcoin world as cryptographers

[opticalcarrier]

...
Someone else suggested the leased forging power to be restricted according to the balance of the forging account and I think that it could also be a reasonable way to do it.
...

what do you think about limiting effectiveBalance for an account or total effectiveBalance for a leased pool where max allowed forging power is based on the latest target?  Would this be a way to limit where 1 entity could not run away with the chain?

[mcjavar]

If you´ve read my PM, I am trying to help you build a core dev team...

In addition to Java developers, and in fact much more urgently, we need a good cryptographer. This person doesn't even need to be that fluent in Java, the language background wouldn't matter (well, he should at least be able to read and understand the Java code). But I don't have much cryptography background myself, so this is an area where we currently lack skills, especially after the departure of BCNext.

Doctorevil seems pretty good and he mentioned before that he could help as a consultant. https://nextcoin.org/index.php/topic,3884.msg36769.html#msg36769

Ricot and Broodyrookie seem pretty good too.

I will approach them.

[ShroomsKit_Disgrace]

they find satoshi nakamoto?
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

Imagine that, now that we know who Satoshi is, they find that he is also BCNext....NXT to da mooonnnn!!!!  

No this is bad. The journalist should be beaten with a stick.
Going out of your way to find this person when he has made every effort to stay anonymous and when he has rejected you over and over, is disgraceful and unethical as hell. I hope this journalist gets fired. Even posted a fucking image of his house...

you mean HER house, don't you? 

Check her:

https://twitter.com/truth_eater

[CIYAM]

what do you think about limiting effectiveBalance for an account or total effectiveBalance for a leased pool where max allowed forging power is based on the latest target?  Would this be a way to limit where 1 entity could not run away with the chain?

Hmm... I am not quite clear on what you are referring to as being the "latest target" - if this is something to do with "difficulty" then my understanding from discussions with CfB about TF is that it won't even be necessary to have that (I am not even quite sure why "difficulty" was even used at all - perhaps someone would care to enlighten me?).