NXT :: descendant of Bitcoin - Updated Information

[timmyd]

Please dont feed the mule lol

[1715085548]

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[gs02xzz]

I don't know if his idea is a good idea. Could we discuss possible routes and the implications for Nxt, please.

In my opinion the concept of TF is mostly a good one (i.e. to get a very large tx throughput) so I would think that the first thing is for the community to decide whether it agrees with that or not (all other decisions really depend upon this one).

If as a community with think it's more important to have people forging with Raspberry Pis then we would be scrapping TF altogether (realistically it is *one or the other* even though marketing people want to have both).

Is the issue all about the speed of tx? If we want higher speed we have to use less nodes or hubs with better equipments. If we want lower speed we can have more small nodes running with cheaper equipments. How about security? Which one has more security for the network?

[CIYAM]

Is the issue all about the speed of tx? If we want higher speed we have to use less nodes or hubs with better equipments. If we want lower speed we can have more small nodes running with cheaper equipments. How about security? Which one has more security for the network?

This could be more interesting when we consider the "parallel chains" idea.

Perhaps we can "have our cake and eat it to" by having say an NHS (NXT high speed) parallel chain that is only being forged by powerful hubs capable of handling huge amounts of TPM whilst the main part of the network could be forging standard NXT on low-grade hardware.

[Fatih87SK]

https://bitcointalk.org/index.php?topic=345619.msg5543952#msg5543952

Well than we need to market this and to make this our primary client for the newcomers. We need to upload link to this client everywhere and make it least confusing for all of the newcomers. Can this be put up at the first page as our main client?

We need to get rid of this "don't go there this is just for geeks" behavior with all the newcomers and non-tech people.

I will update mynxt.org with one standard client and link to nxtclients.org for more options, so there will be no confusion.

All please remind the client is only for testing in testnet as of now. (dont use real accounts!)

we can use it full when it is integrated by J-L in the software.

Yesss..

Still waiting for that. Then we can finally market the client.

[jl777]

This was flawed because of the network topology issue of knowing which nodes are online.  The only work around I can think of is to keep a master list that is broadcast to every node which lists all the nodes seen online in the last 24 hours.  Then these nodes would be rewarded.

Nodecoin will provide realtime positive feedback to forging nodes. No need to change NXTcore

[jl777]

Coinpayments is closing down: https://www.coinpayments.net

What was this site for?

Processing bitcoin payments. USA's FinCen says they have authority over bitcoin and any company that touches it is a money transmitter. Now bitcoin is as troublesome as fiat in America. Isnt America nice

So, now you need at least $5 million to operation in USA, before you can even start. maybe you can choose a few states to lower the compliance cost, but every state has their own rules, add the federal stuff on top and the war on bitcoin escalates.

James

Do you have a source for this? I'd like to read up.

http://www.fincen.gov/

Read especially:

http://www.fincen.gov/news_room/testimony/html/20140220.html

FinCEN getting involved in cryptocurrency is a huge blow to Bitcoin in the US and NXT as well.   If NXT implements NXTcash as a truly anonymous transfer service, we can expect FinCen to arrest James as a terrorist.

I am only partially joking.

will I get internet access from jail?

Internet no, a huuuuge asshole yes.

since when is writing software a crime anyway? What has the world become??

[jl777]

This was flawed because of the network topology issue of knowing which nodes are online.  The only work around I can think of is to keep a master list that is broadcast to every node which lists all the nodes seen online in the last 24 hours.  Then these nodes would be rewarded.

Unfortunately this also is flawed due to topology (it can't be checked).

I know Evil Bob can fake API return values on his computer to fool nodecoin, but what would be the point? nodecoin will be actively using the NXT API and polling forging status (it is already there in getStatus) I just need to figure out the best way to get high confidence that a node was really forging. Some sort of data that would only be available if they had the latest blockchain that would be sent in for verification

[jl777]

Usability is KING!

A visitor of Nextcoin.org tells about his experience and why Nxt is difficult to use for newbees. I totally agree with him, usability is more important than futuristic features. How can we solve this problem?

https://nextcoin.org/index.php/topic,4339.new.html

We need a passphrase generator like the one in Electrum, it is naive to expect people know how to create a strong passphrase

openssl rand -base64 44

maybe we can put instructions on how to install openssl?

[Jerical13]

Nxt Decentralized Internet video - alfa version:
http://youtu.be/RtTWUwRL9mQ

(created between 20 Feb-8 March)

I would be very grateful for any comments and suggestions. It still needs some time, but it already can be commented

Based on the paper:
http://justpaste.it/decentralized-internet
(created between 12-18 Feb)

And good night, its almost 6 AM here

Nice use of theory and reasoning to inspirational ends to provide a backdrop to highlight NXT. It is a daunting task to summarize NXT in such a short time limit; this video does a pretty good job of it. I would suggest putting the bit of the video at the end that serves as the summary at the beginning also, to provide an intro, or provide some sort of intro (tell people what you are going to tell them, tell them, then tell them what you told them). Overall very inspiring, got my attention and made me want to know more. Nice work.

[jl777]

... the community/early adopters should find a way to cover his (and the other core devs) expenses.
My personal opinion is that 1/3 of unclaimed funds should go for audit/whitepaper, 1/3 for core devs and 1/3 for marketing.

- agree 100% !  No infrastructure committee needed.

Brilliant point in time to start a discussion about the need for infrastructure committee ...  

In my opinion, not seeing the need for an infrastucture commitee, just because there are right now more pressing issues is extremely short-sighted.

Do we have a good idea about the NXT network?
How many stable nodes do we have? Who operates them and how are they being paid for? Will these nodes still exist in 3, 6, 12 months?
Do we have enough public nodes?
Does anyone remember when we were DDOSed? Are we in danger? How will we react in the future?
Do we have a good testnet to support developers? Long-term? Can we reset the blockchain at community will and still have a stable testnet?
What changes are necessary in the core to make nodes run more effectively and lower the amount of network data?
What changes are necessary in the core to let people run nodes on low tech hard hardware (e.g. solar powered RaspberryPi's - think marketing)


The day will come that NXT will have a NXT infrastructure problem and everyone will cry and scream...

Can we handle 25,000 transactions in 1 hour? 10 minutes?

[ChuckOne]

Is the issue all about the speed of tx? If we want higher speed we have to use less nodes or hubs with better equipments. If we want lower speed we can have more small nodes running with cheaper equipments. How about security? Which one has more security for the network?

This could be more interesting when we consider the "parallel chains" idea.

Perhaps we can "have our cake and eat it to" by having say an NHS (NXT high speed) parallel chain that is only being forged by powerful hubs capable of handling huge amounts of TPM whilst the main part of the network could be forging standard NXT on low-grade hardware.

Interesting idea.

[jl777]

FinCEN getting involved in cryptocurrency is a huge blow to Bitcoin in the US and NXT as well.   If NXT implements NXTcash as a truly anonymous transfer service, we can expect FinCen to arrest James as a terrorist.

I am only partially joking.

will I get internet access from jail?

James is a machine

looking forward to first delivery of that machine

bla bla bla

https://github.com/jl777/multigateway

[jl777]

I don't know if his idea is a good idea. Could we discuss possible routes and the implications for Nxt, please.

In my opinion the concept of TF is mostly a good one (i.e. to get a very large tx throughput) so I would think that the first thing is for the community to decide whether it agrees with that or not (all other decisions really depend upon this one).

If as a community with think it's more important to have people forging with Raspberry Pis then we would be scrapping TF altogether (realistically it is *one or the other* even though marketing people want to have both).

We need high TPS and also support lightweight nodes

[Damelon]

I just had a bit of an overwhelming meeting with the outside investor.

He is the creator and owner of this/these projects:


https://www.trackprotect.com/
http://www.sustainsound.org/
http://www.rhosmovement.com/

Basically, he wants to use Nxt as a vehicle for his business and to power his system of distributing music.

I just spent two hours talking with him and he is immensely energetic and serious about this.

He sees the potential úse of Nxt and digital property and talks will continue.

From both a marketing perspective as a purely investment perspective, this could be a significant step forward for Nxt!

Music is the #1 attracting factor for users anywhere and we would be tapping into a worldwide userbase with these guys.

Even better is that his development cycle is almost finished already (I saw his already working product) and he is looking for a good "fit".

He is OK with me sharing this, because he wants to be open about his project. Have a look and see what it is all about.

[Jerical13]

If Etherium is such a big deal and the community is more important than the technical advantages, why does Nxt has 2160 pages and Etherium only 74 pages on Bitcointalk.org?

Ethereum is 2 advocacy guys project, Nxt is 1000 random guys project

This is naive as hell... Ethereum got so much more influence than you even want to know

That is because it is backed by major financial institutions.

Which is why they have hired top lawyers, top programmers, top marketing experts etc.
Noone in the real world gives a single fuck that Ethereum isn't a "activist project".

I sincerely hope that isn't the case.

There are some things money cannot buy.

I wish that was the case, but sadly in the real world it isn't ;\
If they provide the best service and tech, then average people (99,9% of the population) wont care one bit of the history involved.
And Ethereum got a lot of activists in it too so it's not like they are 100% synthetic and clinical.


NXT has too much drama, too skewed distribution of NXT, a lot of activists have already abandoned ship and more are doing so soon.
How did the marketing committee get selected? At least 2 of them used dirty tactics to get in the position they are now.

We barely got developers even and soon we lose CfB. This isn't something new, this is something people have known for months now and yet nothing changes. We keep drifting and drifting.
A lot of people learn of NXT, become involved, do great work, get zero pay, get disheartened and leave. Look at how many important people left to NEM. And *finally* NEM is auditing their IPO, so suddenly it'll be 10 times fairer than NXT in terms of distribution.
I have defended NXTs distribution 100 times, but it's clear that the vast majority of big holders are idle for a reason and that reason isn't strategic. (like Pouncer deluded himself to think)

Hopefully the new commitees will help to get us focused a little more. I feel this will be a step in the right direction. I have not been around here very long, but I can see the energy and enthusiasm that is surrounding NXT.  The principals of labor show that the only way to improve on output is through improved technologies that better facilitate the economics of labor and through the improved organizing and structuring of labor. These are the ONLY two ways. I am not trying to say that what anyone has done or is doing is not good; I am saying it could be and needs to be better.

[jl777]

Is the issue all about the speed of tx? If we want higher speed we have to use less nodes or hubs with better equipments. If we want lower speed we can have more small nodes running with cheaper equipments. How about security? Which one has more security for the network?

This could be more interesting when we consider the "parallel chains" idea.

Perhaps we can "have our cake and eat it to" by having say an NHS (NXT high speed) parallel chain that is only being forged by powerful hubs capable of handling huge amounts of TPM whilst the main part of the network could be forging standard NXT on low-grade hardware.

Like different speed roads, from superhighways down to dirt roads
very nice
I cant imagine bitcoin guys even thinking about doing stuff like this

[ChuckOne]

There are no other nodes beyond the firewall can check the slavechain. They would need to rely blindly on the Chinese nodes.

I'm afraid we can't solve problems related to disjoint networks.

I think we can this time.

We can use the SCIP mechanism to let slavechains prove they have proceeded 1440 legitimate blocks.

The only thing that needs to be registered on the masterchain is the counting algorithm for that very slavechain. From that, a verifier key can be obtained.

[bitcoinpaul]

(Could parallel blockchains help?)

I want 1 Million DOGE for bringing up the idea.

[BrianNowhere]

I didn't donate to "Songs of Love" because it's ridiculous.  There are millions of children who are sick.  Singing to them will do nothing.  How about trying to cure their illness.

wow, sophisticated thought process 

This is the main reason I didn't donate.

Also, one of the singers was a stripper.  If I had a sick child, I would not want a "former" stripper singing to them.  I'm not going to support that garbage.  They couldn't find a better role model?  Seriously?

That's very judgy of you. Strippers are not the devil, they just dance for money naked. Why are you afraid of the naked female form? And she was a former stripper. Are you saying anyone who ever did anything outside of the box in their life should not be allowed to donate their time to a charity?

[Asian Prepper]

3rd & 4th video from the 2014 Texas Bitcoin Conference:

What Is Proof Of Stake In Nextcoin (NXT) vs. Proof Of Work In Bitcoin (BTC) - By Tai Zen
http://prisonorfreedom.com/what-is-proof-of-stake-in-nextcoin-nxt-vs-proof-of-work-in-bitcoin-btc-2014-texas-bitcoin-conference/

What Is Transparent Forging In NXT (Nextcoin)? - By Tai Zen (Texas Bitcoin Conference)
http://prisonorfreedom.com/what-is-transparent-forging-in-nxt-nextcoin-2014-texas-bitcoin-conference/

Enjoy!
Tai Zen