NXT :: descendant of Bitcoin - Updated Information

[Patrik90]

It hurts everytime I look at the price..screw this! I am not looking anymore!
HODL HODL HODL  

[1713298518]

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[1713298518]

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[chanc3r]

It hurts everytime I look at the price..screw this! I am not looking anymore!
HODL HODL HODL  

Do what I do when I can YUB YUB YUB

[Patrik90]

It hurts everytime I look at the price..screw this! I am not looking anymore!
HODL HODL HODL  

Do what I do when I can YUB YUB YUB

You are right, I'll send some of those eurocoins to bitstamp and YUB BTC and then NXT

[redsn0w]

I've registered an account at http://nxtra.org/nxt-client/

please send some test NXT

the account id is 2361169608080828078

Thanks

15k TestNxt sent , have fun .

will next hit in 1 or 2 years 1 Dollar or 10 dollar or 100 Dollar?

Whats your Prognostic?

500 Dollars in two Years!!

For this, Nxt would need to be bigger than google (400 billions market cap), which took about 16 years to achieve.

OK, but i think 100 Dollars can be realistic in a few Years.....

1-2 $ in a few years .

1-2 Dollar at the end of the Year!!!

72 Stakeholders??? WTF This must be a scam, tell me why there are only 72 Stakeholders???

There were only 72 interested in the beginning.

and YODO. You only distribute once.

Every person who owns at least 1 Nxt is a stakeholder.

[paradigmflux]

hey all

I am accepting applications to help me with some closed beta testing on a new pool that I am in the midst of setting up.  I hope to have the initial page up for the preliminary beta testers later today.

It is a mining pool that you can point your scrypt miners at, and use your NXT account ID as the worker name.  The pool will mine the most profitable of (eventually all of the altcoins) but during beta it will likely only mine the most profitable out of a small sampling of 3-4 different alts.
The coins that are mined will be liquidated on exchanges twice a day, and all of the BTC that they bring in will be used to buy NXT on the same exchange that the coins were sold on (to eliminate fees and time spent transferring coins between exchanges)
The NXT that is purchased with the BTC that was mined will then be sent out to all of the miners, divided up by the percentage of the total shares that each miner contributed to the pool.  There will be a 2.5% fee on the pool once it goes public (for the first 1 month) and afterwards the fee will drop to 2%.  During the closed beta period the fee will be 1%.  I have spent an enormous amount of time getting the various pieces to this all starting to work together, so I do not feel that it is an unfair fee amount.  The fee will be retained by the pool in the form of NXT, 100% of the coins mined will be liquidated for BTC and 100% of the BTC that is obtained will be immediately used to purchase NXT.

This will:

a) drive the price of NXT up by continually infusing BTC into the ecosystem
b) allow people to use scrypt miners to increase their NXT holdings.

Please message me if you're interested in testing the closed beta - as a warning, there will be limited visibility into the stats during the first part of the beta, although I will be more than willing to be in an IRC channel with the testers while they test.  Any coins that are mined will be liquidated and the NXT that they purchase will be distributed amongst the beta testers.  I am hoping to start the closed beta testing tonight, although there is the possibility that it may have to wait until early this week. 
--- Please include an approximate value for your hash rate if you're messaging about the closed beta testing.  I would like to be able to keep the beta to a reasonable hash rate, so please no huge 300 card mining farms or anything yet ---

bump, sorry if this violates any thread rules or site etiquette.  I have recieved only 6 PM's from people and a few of them were only CPU minerrs, I had been hoping for a bit larger of a closed beta.

[wesleyh]

bump, sorry if this violates any thread rules or site etiquette.  I have recieved only 6 PM's from people and a few of them were only CPU minerrs, I had been hoping for a bit larger of a closed beta.

You should post this to http://nextcoin.org, http://forums.nxtcrypto.org and http://reddit.com/r/nxt as well. Great project!

[paradigmflux]

I am knee deep in code today and expect that I will be for most of the evening.
If you wanted to post a link to the post in this thread though, I would appreciate it.

[wesleyh]

I am knee deep in code today and expect that I will be for most of the evening.
If you wanted to post a link to the post in this thread though, I would appreciate it.

Will do, btw did you know that a 200K bounty is awaiting you? https://nextcoin.org/index.php/topic,4388.30.html

[paradigmflux]

holy cow i had no idea that bounty even existed
thank you very much for letting me know about i!!

[rlh]

hey all

I am accepting applications to help me with some closed beta testing on a new pool that I am in the midst of setting up.  I hope to have the initial page up for the preliminary beta testers later today.

It is a mining pool that you can point your scrypt miners at, and use your NXT account ID as the worker name.  The pool will mine the most profitable of (eventually all of the altcoins) but during beta it will likely only mine the most profitable out of a small sampling of 3-4 different alts.
The coins that are mined will be liquidated on exchanges twice a day, and all of the BTC that they bring in will be used to buy NXT on the same exchange that the coins were sold on (to eliminate fees and time spent transferring coins between exchanges)
The NXT that is purchased with the BTC that was mined will then be sent out to all of the miners, divided up by the percentage of the total shares that each miner contributed to the pool.  There will be a 2.5% fee on the pool once it goes public (for the first 1 month) and afterwards the fee will drop to 2%.  During the closed beta period the fee will be 1%.  I have spent an enormous amount of time getting the various pieces to this all starting to work together, so I do not feel that it is an unfair fee amount.  The fee will be retained by the pool in the form of NXT, 100% of the coins mined will be liquidated for BTC and 100% of the BTC that is obtained will be immediately used to purchase NXT.

This will:

a) drive the price of NXT up by continually infusing BTC into the ecosystem
b) allow people to use scrypt miners to increase their NXT holdings.

Please message me if you're interested in testing the closed beta - as a warning, there will be limited visibility into the stats during the first part of the beta, although I will be more than willing to be in an IRC channel with the testers while they test.  Any coins that are mined will be liquidated and the NXT that they purchase will be distributed amongst the beta testers.  I am hoping to start the closed beta testing tonight, although there is the possibility that it may have to wait until early this week. 
--- Please include an approximate value for your hash rate if you're messaging about the closed beta testing.  I would like to be able to keep the beta to a reasonable hash rate, so please no huge 300 card mining farms or anything yet ---

Sorry guys, I can't keep up with this thread.  Wesley pointed this post to me over at Nextcoin.org.  Anyway, for those who didn't catch it, I posted a bounty for this type of pool.  However, to win the bounty, you need to implement a Scrypt mining address AND a SHA-256 address.  It sounds like this pool will most-likely meet the requirements, so long if they can implement SHA-256.

[Damelon]

Nxt Marketing Committee has met!

I, as spokesperson of the Nxt Marketing Committe am proud to say we have met and are ready for action!

To keep things nice and tidy, we have set up camp in the "Unclaimed Coins" subforum of nxtcrypto, where we will keep separate threads on all applications and where we will keep our discussions.

The committee is manned and womaned by joefox, salsacz, allwelder, brooklynbtc (jefdiesel) and myself.

More info:

Nxt Marketing Fund Committee thread

Nxt Marketing Fund Committee Applications format

We invite every one of you to come with your plans and proposals so we can get this show on the road!

[ChuckOne]

Do we need an audit for the JavaScript Crypto25519 that Wesleyh uses, too?

https://bitbucket.org/JeanLucPicard/nxt/commits/b76c64e710a69ab6661530e6a3579b6eb7f4a45a#chg-html/tools/js/curve25519.js

[EvilDave]

Nxt Marketing Committee has met!

I, as spokesperson of the Nxt Marketing Committe am proud to say we have met and are ready for action!

To keep things nice and tidy, we have set up camp in the "Unclaimed Coins" subforum of nxtcrypto, where we will keep separate threads on all applications and where we will keep our discussions.

The committee is manned and womaned by joefox, salsacz, allwelder, brooklynbtc (jefdiesel) and myself.

More info:

Nxt Marketing Fund Committee thread

Nxt Marketing Fund Committee Applications format

We invite every one of you to come with your plans and proposals so we can get this show on the road!

Your very first bounty request is:

Please give me a lot of NXT, just for being such a charming motherf****r.

Ta very much.

[wesleyh]

Do we need an audit for the JavaScript Crypto25519 that Wesleyh uses, too?

https://bitbucket.org/JeanLucPicard/nxt/commits/b76c64e710a69ab6661530e6a3579b6eb7f4a45a#chg-html/tools/js/curve25519.js

Actually jaguar fixed his implementation to correspond to the fixes proposed by xyz (forgot his name).

Of course I invite anyone to do a COMPLETE review of my code (the entire web client).

Also, tomorrow I will update the version on my site to do local signing (via the code above). It will no longer transmit your password to the server.

It works like this:

1) Fill in form, together with your password
2) On form submit, your password is not sent to the server, instead your public key is.
3) We get back raw bytes (prepared transaction)
4) This is "unpacked" and compared to your input.
5) If everything is OK, we send sign the raw bytes and send it back to the server.

I do step 3 so that server side can do input validation and error handling instead of client side (checking if name is taken, funds are available, order exists, etc).

[Damelon]

Your very first bounty request is:

Please give me a lot of NXT, just for being such a charming motherf****r.

Ta very much.

Dear E. Dave,

Your request does not meet the requirements for accepting your application.
We will be happy to take your request under advisement when you have competed the proper form.

Kind regards,

MC Damelon

[Eadeqa]

Do we need an audit for the JavaScript Crypto25519 that Wesleyh uses, too?

https://bitbucket.org/JeanLucPicard/nxt/commits/b76c64e710a69ab6661530e6a3579b6eb7f4a45a#chg-html/tools/js/curve25519.js

This is exact copy of Java version

[Damelon]

[salsacz]

Would you accept Nxt cryptocurrency? Open letter for shops and exchanges
http://justpaste.it/accept-nxt
https://i.imgur.com/36PESUM.jpg
https://i.imgur.com/0GIBHfl.jpg

7th April we'll have the nxt woodwallets

http://woodwallets.io/ (free worldwide shipping)

[rickyjames]

I say again, WE ARE IGNORING THE CRYPTOCOIN 1.0 FOUNDATION OF NXT AND THIS IS A MISTAKE.  We should be systematically shaking the trees for vendors who will put NXT logos beside their "Bitcoin accepted here" logos (like I see Salsacz doing a few posts back!).  We should be working RELENTLESSLY on increasing TPS as a demo to the world.  IF we build 1000 TPS, they will come.

Sigh... NXT is simply not capable of this right now.. Someone who knows more - please correct me if I'm wrong.

We don't have Transactions-Per-Second, we have Transactions-Per-Block
We have a limit of 250 transactions per block
We have a block every 60 seconds

So no matter how many forging nodes we have we can only process this many transactions which is about 3 TPS with up to 60second latency i.e. up to a 60second delay from when you submitted your transaction to when it was processed, but if more than 250 transactions are broadcast since the last block then you wait for the next block and so on...

Currently if the incoming rate were 1000tps then we would get a 3 minute delay in transaction confirmation which increased every minute by 3 minutes...

THis monster thread is impossible to search but early on BCNext and CfB had some kind of "time warp" plan that was to synchronize the exact iming between blocks, then dial that time down from 60 sec to 30 sec to 20 sec to 10 sec...etc....between blocks and get to 1000 TPS.   It was a byproduct of transparent forging.   Just to show I'm not dreaming this:

Any other coin can have a lot of features but once Nxt switches 1000+ tps mode on, all competitors will be left behind.

CfB, can you PLEASE PLEASE PLEASE go on record here to say what was supposed to happen with the original NXT code development timeline to implement 1000 TPS / time warp / transparent forging?  ?  As I understand it, Jena-Luc is not "up to speed" on TF, only you and BCNext were.  So...can you at least outline what the plan was even if there is no code on how to implement it?  Is this a capability you planned to implement that has dropped to the bottom of the list?  If so, why?

[rickyjames]

I just proposed to have NxtMinnow on LTB with Andreas Antonopoulos
https://twitter.com/aantonop/status/445268614673752064

Ah, Salsa, I'm mortally wounded (just kidding) you didn't propose me for this.  Didn't I come across well enough in the altcoin panel in Austin?