NXT :: descendant of Bitcoin - Updated Information

[pandaisftw]

What I ment by "diluting the NXT POS scheme", is that you're using POW to directly buy NXT. It's against on of the POS principles (don't waste energy).
And as long as there will be crapcoins (they will keep popping up for as long as people can make a quick buck on them) people will keep mining them.

Getting a bigger audience by letting go one of the POS principles?
I think I'm in one of my philosophical fases or whatever, but it feels like dumping toxic waste somewhere to grow yourself a clean business. 

I won't go on about this. Just letting you know how I think about it 

I get you

However, one of my principles is "Thou shall make money"...

Anyways, don't feel to bad, it's basically mining an alt-coin, selling it and buying NXT. I'm sure many people have done this already. Now it's just automated

Pandaisftw

[mikesbmw]

What I ment by "diluting the NXT POS scheme", is that you're using POW to directly buy NXT. It's against on of the POS principles (don't waste energy).
And as long as there will be crapcoins (they will keep popping up for as long as people can make a quick buck on them) people will keep mining them.

Getting a bigger audience by letting go one of the POS principles?
I think I'm in one of my philosophical fases or whatever, but it feels like dumping toxic waste somewhere to grow yourself a clean business. 

I won't go on about this. Just letting you know how I think about it 

Rule one of the internet: people will do what they do.

Nxt is open. The *system* may be PoS. That doesn't mean people will be limited by it.
The only way to counteract that is to centrally limit it.

This is one of those "take the good with the bad" situations.

The only thing Nxt developers can do is not actively promote it by writing the code for it themselves.
That is where a mission statement that rickyjames was talking about comes in handy.

It means no core coding would be allocated to facilitating it out of the community. But that's as far as it would go

Okay: "we won't facilitate it in the core code, but here is a link that will do JUST THE SAME and put it on our OP (but we didn't write it, so all is cool)"  

Okay, now I will honor my previous words and stop commenting about it. Let's agree to disagree.
It's a moo-point anyway, because indeed people do what they will do...

[Damelon]

Okay, now I will honor my previous words and stop commenting about it. Let's agree to disagree.
It's a moo-point anyway, because indeed people do what they will do...

I don't even disagree.
I'm just very, very practical

[mikesbmw]

However, one of my principles is "Thou shall make money"...

I studied economics and our saying was "pecunia non olet" 

[mcjavar]

BTC Conference in Vienna

https://bitcointalk.org/index.php?topic=412243.msg5802693#msg5802693

[bitcoinpaul]

Rule one of the internet: people will do what they do.

Nxt is open. The *system* may be PoS. That doesn't mean people will be limited by it.
The only way to counteract that is to centrally limit it.

This is one of those "take the good with the bad" situations.

The only thing Nxt developers can do is not actively promote it by writing the code for it themselves.
That is where a mission statement that rickyjames was talking about comes in handy.

It means no core coding would be allocated to facilitating it out of the community. But that's as far as it would go

You are right. We shouldn't "market the hell out of it". But some other dudes should.

[intmain()]

Refactoring resin webserver for use with encrypted objects. http://www.caucho.com/press/resin-java-web-server-outperforms-nginx/ It outperforms C based engines by a nontrivial margin.

I'm going to need beta testers in about a week  .

[mkmen]

Refactoring resin webserver for use with encrypted objects. http://www.caucho.com/press/resin-java-web-server-outperforms-nginx/ It outperforms C based engines by a nontrivial margin.

I'm going to need beta testers in about a week  .

I'm very interested in your work, count me in.

[igmaca]

Dynamic fees. byte size on the blockchain Vs Nxt coins market

how I achieve?

Nxt blokchain published each account and the price they are willing to forge "Nxt per byte"
everybody analyzes which is the price that suits you best and in the field "Nxt per byte" you introduce.

Now imagine that your account (node​​) succeeds.

My proposal is that instead of one account who are having success there are several accounts that are having success.

a) The "Nxt per byte" average of these several accounts is estimated
b) Account (node) that gets closer to the "Nxt per byte" average is chosen.
c) After selecting the account (node​​) that forges, the following occurs;
d) Transactions and services performed in that block are charged with the "Nxt per byte" account (node) chosen

 Fee = Nxt per byte * byte size on the block = Nxt Fee on the block

[brooklynbtc]

My comments regarding "price" were not intended as "speculation" (but seemingly have been interpreted that way).

The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.

Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.

quoted because Ian says so 

[Daedelus]

Okay, now I will honor my previous words and stop commenting about it. Let's agree to disagree.
It's a moo-point anyway, because indeed people do what they will do...

Nobody??

Nevermind, I'm sure you can find some clangers in my posts and English may not be your mother tongue... the little chuckle brightened my day though

[salsacz]

Some of the best results from my yesterday's little twitter swarm:

thousands of followers, media influence:

https://twitter.com/vruz/status/446435808615346176
NXT is an #altcoin with a brand new codebase, extensibility & low-computing power in mind http://justpaste.it/nxt-introduction-4-journalists … #nxtcoin via @salsacz

https://twitter.com/pro2rat/status/446611172788154368
If Nxt can be more " OpenLeaks" to Ethereum's " Wikileaks" then they will win.

https://twitter.com/Bitcoin_Watcher/status/446483631565848576
@jgarzik I like about NXT that it could run its POS forging on very low end smartphones in Africa, while Bitcoin or Ethereum can't be mined.
https://twitter.com/Bitcoin_Watcher/status/446482846366969856
@jgarzik Ethereum is the best approach out there? What about NXTcoin. I recently learned NXT is also turing complete like Ripple & Ethereum.
Zobrazit překlad.

https://twitter.com/sclopit/status/446547819122688000
https://twitter.com/Bitcoin_Rush/status/446439400361431041

[Daedelus]

Refactoring resin webserver for use with encrypted objects. http://www.caucho.com/press/resin-java-web-server-outperforms-nginx/ It outperforms C based engines by a nontrivial margin.

I'm going to need beta testers in about a week  .

I will help, if I am able. But I have no idea what you just said, except "beta tester".

Right, I'm off to re-cost my wind sprocket rod to raise the axim level to brown code 3 bravo. Wish me luck.

[mczarnek]

Well, let me provide an update after eight hours of straight programming.

Here is essentially what I will be running with for the decentralized server addition.

In this example Peer1 and Peer2 are not hallmarked, which is why they are using a hallmarked server as a common networking point. The purpose of this is to allow the two "peers" to send serialized objects to each other without taking up a large amount of bandwidth on the NXT network.

Here is what a serverRequest object looks like.

Code:

class serverRequest implements Serializable {  
	
	private  int wantedPeer;
	private  String sharedNode;
	private  java.util.Date date = new java.util.Date();
	private  long time;
	private  int sender;
	private byte[] signature;
	

	public  serverRequest(int receiver, int sender, String sharedNode){
		this.sharedNode = sharedNode;
		this.account = sender;
		this.wantedPeer = receiver;
		this.time = date.getTime();

		long packetLong = Long.valueOf(sharedNode) + account + time + wantedPeer;
		byte[] packetByte = ByteBuffer.allocate(8).putLong(packetLong).array();
		this.signature = Crypto.sign(packetByte, secretPhrase);
	}

} 

Establish a shared hallmarked server connection.

• Peer1 chooses a  hallmarkedServer to share a connection with Peer2
• Peer1 sends the serverRequest object to all hallmarkedServer(s) in peerList.
• hallmarkedServer(s) check their peerList to see if they are connected to Peer2
• if they are not the hallmarkedServer(s) broadcast the signed request to all the hallmarkedServer(s) they are connected to.
• if they are connected to Peer2 they send the serverRequest to Peer2
• Peer2 connects to IP (sharedNode) in request packet
• Peer2 sends a signed timestamp + sharedServer packet to the shared server (essentially just verifying the serverRequest)
• the shared server will now relay all serialized objects sent from Peer1 to Peer2 (on port 6666) and vice-versa.

Countermeasure to "passive" denial of service
   Every minute a object with the amount of sent data during the last minute is sent to hServer
   hServer sends this to the other Peer
   If this packet is not received by the other peer the shared hServer is forgotten and a new sharedServer is found

Very nice intmain()!!

[mczarnek]

Suggestion regarding the fees to place an order in the asset exchange, if the price goes up or down by a certain percentage, allow people to remove the order and get back the fee.  The fee is only actually removed from the system and given to a forger if the order goes through.

That way it ensures that people place orders that they actually intend to go through but if they place a buy order, the price doubles, which they couldn't have predicted, suddenly they doubt their order will every go through, and they aren't penalized.

[timmyd]

Thats because of all the "every type of altcoin going" pump and dump mentality. People are starting to realise nxt has never been a pump and dump coin. Now all you see is pumping and dumping of the alt clones to transfer to nxt. If anything Nxt has given a purpose for the alt clones and thats is pumping them to dump for nxt. alts are a way for people to obtain nxt without putting up fiat. imo any ways. i personally mine alts to swap for ghs at cex or buy nxt with em and thats it. nxt is my gold stash lol

And now we have 2 pools www.hashrate.org and www.nxtp00l.org i dont even have to handle to alts lol

You get your mining rig and electricity for free?  

I've been considering building a mining rig just for this purpose, but it really goes against every fiber in my body to waist KW/hours of energy for "nothing". I might as well invest another 1000 euros in NXT.

I also think it goes against the POS mentality. Yeah, NXT is POS, but you are MINING and waisting energy on other shit coins. Seems a bit odd, doesn't it?

i understand what your saying about minning and the costs inccurred. i have this discussion all the time with my mining pals. imo i dont think minning is profitable at all. I only mine a few new alts due to lpw difficulty and its a good way to get your hands on a few coins just in case they turn into btc 2.0
but actually making a profit from minning is not achieveable. Hence why i buy ghs at cex.io to mine btc. doesnt cost me any power or maintainence. i currently just run an antminer u1 usb and and a gpu for scrypt. all my coins get sold and transferred to nxt or keep a few potential good ones. these pools are good for nxt imo because it opens nxt upto alot of mi er mentality ppl that stayed away from nxt in the beginning.

[salsacz]

is there one single paragraph or website page i can show people to try and convince them of nxt's potential? like all the features and everything and what the asset exchange can do and all that summed up into one/2 pages???

I am working on this site, where are important links: http://justpaste.it/nxt-introduction-4-journalists

maybe you can use a brochure:
http://nxt.sx/images/resources/NXT-Brochure-4.pdf

[msin]

Refactoring resin webserver for use with encrypted objects. http://www.caucho.com/press/resin-java-web-server-outperforms-nginx/ It outperforms C based engines by a nontrivial margin.

I'm going to need beta testers in about a week  .

Interested

[farl4web]

My comments regarding "price" were not intended as "speculation" (but seemingly have been interpreted that way).

The market will decide "how much NXT is worth" and that value will be mostly determined because of the usefulness of the platform.

Perhaps people might consider "quoting this post" instead of the other but of course people are only going to quote what suits them.

I don't really know any other way to interpret what you said. It's pretty clear if you ask me and if you feel I'm taking you out of context I'd love to be shown in what way.

Anyway, I think I've said enough on all of this. Anyone who doesn't get what I'm saying at this point is probably never going to get it. I'm glad I got it off my chest and now it's time to move along. Feel free to talk all the shit about me you want.

Take a look at this, salsacz posted this earlier: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

"Very high" is relative anyways. As CIYAM just said, the market forces will decide the price - NXT will have value, but the price (or at least the fees) need to be low enough so that services can use NXT without paying exorbitant fees. Whether this is $1 with 0.01 fees or even $2, who knows.

IMO, you'd have more success if your statements were more constructive. Pointing out things that are in development (for example, instant transactions) and basically creating a ruckus of it isn't going to be very well received.

I took a look at your reddit post, and basically it can be broken down to two sections: upcoming features and fees.

1) Calling NXT a bait and switch is a little disingenuous because those features mentioned on the sidebar of reddit are in development. So far two of the things on that list are already implemented, and we are testing the AE right now. Going from 0 to 3 out of 4 implemented, in four months, and you're complaining about being lied to? I don't see you blaming Auroracoin for not being in the hands of Icelanders yet... it's "in progress". (Btw, the first post of this thread clearly states that instant transactions are in progress. Hopefully you read that post before investing...)

2)
A) Fees can be changed. We may eventually switch to Optical's system, who knows. Btw, this problem is not unique to NXT, all crytpos have hard-coded "min" fees.
B) AE was never planned to do HFT (I can pull up a quote of CFB from a long time ago). How are you going to do HFT on a blockchain that runs on a 1 minute timer? Imo, the AE serves a more useful purpose - such as gateways, kickstarter and things I can't even think of right now - than simply acting as a stock market. Thus, fees really are not that big of a deal (assuming they remain small, refer to A)) for people who don't do HFT. Also, exchanges normally charge 0.15% or even higher for a successful trade. NXT charges the min fee to post an order - different systems for different purposes.

Lastly, you've ignored all the projects that are going on right now *not* on your lists. Like others have said, I don't think you're "spreading FUD", but the way you're going about this is not as helpful as you think. Okay, you've outlined some problems, that's good, we need people who can see problems - now, how can you help remedy them?

Pandaisftw

Totally agree! He should have patience… Rome wasn't build in one day too.

[Mistafreeze]

Could be a deadcat bounce. Still a lot of selling power.

Once the exchange goes live a lot of new people will show interest in NXT. There are some people worried about paper losses too much IMO. It's only a loss if you sell for less than you bought. I'm sitting on paper losses too, but I'm not going to sell until at least 1 NXT=1USD. The deadcat bounce is Auroacoin IMO

I agree. It's amazing how jittery many in this young community seem to be about price. The alt coin world is so spoiled with the idea of instantaneous profits. Not many think long term and amazingly even long term is defined most of the time as <12 months.

Thats because of all the "every type of altcoin going" pump and dump mentality. People are starting to realise nxt has never been a pump and dump coin. Now all you see is pumping and dumping of the alt clones to transfer to nxt. If anything Nxt has given a purpose for the alt clones and thats is pumping them to dump for nxt. alts are a way for people to obtain nxt without putting up fiat. imo any ways. i personally mine alts to swap for ghs at cex or buy nxt with em and thats it. nxt is my gold stash lol

And now we have 2 pools www.hashrate.org and www.nxtp00l.org i dont even have to handle to alts lol

who runs the p00l site? why do most addresses end with 3 zeros? might this be a bug and he pays out to invalid addresses?

I'm not sure, but I noticed it too.

This is my address under 'Online Users':7606968008269260975. This is correct.
Under 'Payouts' it looks like this:         7606968008269261000.

The last 4 digits are wrong. Not sure why this would be intentional, but maybe I'm an idiot.