Come-from-Beyond
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January 22, 2014, 06:18:10 AM |
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We've managed to decompile the code
Congrats! I hope u didn't spend too much time, coz with http://www.showmycode.com/ u would do it within 15 seconds. This guy is awesome |
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divinity
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Activity: 70
Merit: 10
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January 22, 2014, 05:56:25 PM |
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So I thought the idea of NXT coin was pretty cool. I downloaded the Windows package and the fun began.
- Rather than being compressed with a normal program such as RAR or ZIP I had to go and find a program to unpack 7z as my WinZip wouldn't do it. Why the developers chose 7z is beyond me.
- The batch file method of starting NXT did not work, still does not work. I have to manually click the start.jar file for it to run. The port mentioned in the documentation does not even work, I had to use 127.0.0.1:7874
- I purchased some coins and waited... and waited.
- Having 750 coins now I am told I must wait 1049 days (down to 253d now) for the next block. Yeah that will happen.
My frustration at the packaging of the software was already there, yet I held out hope that I might enjoy this coin. Now having seen the ridiculous wait times I am selling my coins and abandoning this one.
In the GPU/CPU world, profits go to those who spent the most in their hardware. For a coin that is supposed to be Green and energy friendly, the concept of NXT was also disturbing to me because the rich get richer and the poor get nothing.
You have to outbuy the other guy to see profit. It becomes a competition. I'm also troubled by the fact that coins (which we all know can be premined/generated for free) are being sold from the top level down. I don't necessarily believe there were hundreds of BTC invested into these, I think the value was exaggerated. Why does someone have to invest into coins when you can just make coins available for nothing?
No, I won't be buying any more of these trying to beat the guy above me just for the sake of .18% profit. I gave it a shot but this one is not for me.
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salsacz
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January 22, 2014, 06:05:15 PM |
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In the GPU/CPU world, profits go to those who spent the most in their hardware. For a coin that is supposed to be Green and energy friendly, the concept of NXT was also disturbing to me because the rich get richer and the poor get nothing.
Interesting. World of Bitcoin:You have 1000$, you can mine X Btc thanks to the GPU You have 100.000$, you can mine 1000X Btc thanks to some super machine you buy if you have 100x1000$GPU, you get 100X Btc (+ pay 100x for electrocity) if you have 1x100.000$Machine, you get 1000X Btc (+ pay for electrocity) World of Nxt:You have 1000 Nxt, you can mine X Nxt You have 100.000 Nxt, you can mine 100X Nxt So in the world of Bitcoin, it is Rich get richer. In the wolrd of Nxt, it is LINEAR! |
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relm9
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January 22, 2014, 06:08:34 PM |
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- Rather than being compressed with a normal program such as RAR or ZIP I had to go and find a program to unpack 7z as my WinZip wouldn't do it. Why the developers chose 7z is beyond me.
I don't know where you downloaded your copy of NXT because the official distributions are in ZIP format here... http://download.nxtcrypto.org/ |
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kwukduck
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Activity: 1937
Merit: 1001
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January 22, 2014, 06:13:10 PM |
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I'm all for innovative ideas when it comes to the evolution of crypto currencies, but i absolutely fail to see how a full 'pre-mine' coin is anything other than a pump'n'dump or all out scam. It's the one thing that should not have been and this could have been very interesting.
Good thing other coins are on their way that bring the same features without this scam-ish pre-mine.
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14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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divinity
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Activity: 70
Merit: 10
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January 22, 2014, 06:16:41 PM |
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You have 1000 Nxt, you can mine X Nxt
You have 100.000 Nxt, you can mine 100X Nxt
So in the world of Bitcoin, it is Rich get richer. In the wolrd of Nxt, it is LINEAR!
Actually you have a 1 in 0.000001 chance if you have 1000 NXT. Source: http://www.nxtcrypto.org/nxt-coin/more-nxt-proof-stake-forging |
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Come-from-Beyond
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Activity: 2142
Merit: 1009
Newbie
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January 22, 2014, 06:42:37 PM |
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I'm all for innovative ideas when it comes to the evolution of crypto currencies, but i absolutely fail to see how a full 'pre-mine' coin is anything other than a pump'n'dump or all out scam.
As an NXT holder I'm glad that u didn't join us. We need only open-minded people. |
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salsacz
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January 22, 2014, 06:44:10 PM |
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I was using "X" as a chance. This chance is actually higher, because not all people with Nxt are forging, forging are maybe 1%, so chance can be 0.0001. But still, with this number, if you use 100x 1000 Nxt, you get chance to: 0.01. But if you had chance 0.0001 with 1000$ GPU for BTC, you would have chance 0.01 with 100x1000$ GPU (+100x electrocity), but instead of buying 100x1000$ GPU, you would buy 1 supermachine for 100.000$ and the chance wouldn't be 0.01, but 1 or even more. Bitcoin is rich get richer. |
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msin
Legendary
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Activity: 1470
Merit: 1004
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January 22, 2014, 06:50:57 PM |
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So I thought the idea of NXT coin was pretty cool. I downloaded the Windows package and the fun began.
- Rather than being compressed with a normal program such as RAR or ZIP I had to go and find a program to unpack 7z as my WinZip wouldn't do it. Why the developers chose 7z is beyond me.
- The batch file method of starting NXT did not work, still does not work. I have to manually click the start.jar file for it to run. The port mentioned in the documentation does not even work, I had to use 127.0.0.1:7874
- I purchased some coins and waited... and waited.
- Having 750 coins now I am told I must wait 1049 days (down to 253d now) for the next block. Yeah that will happen.
My frustration at the packaging of the software was already there, yet I held out hope that I might enjoy this coin. Now having seen the ridiculous wait times I am selling my coins and abandoning this one.
In the GPU/CPU world, profits go to those who spent the most in their hardware. For a coin that is supposed to be Green and energy friendly, the concept of NXT was also disturbing to me because the rich get richer and the poor get nothing.
You have to outbuy the other guy to see profit. It becomes a competition. I'm also troubled by the fact that coins (which we all know can be premined/generated for free) are being sold from the top level down. I don't necessarily believe there were hundreds of BTC invested into these, I think the value was exaggerated. Why does someone have to invest into coins when you can just make coins available for nothing?
No, I won't be buying any more of these trying to beat the guy above me just for the sake of .18% profit. I gave it a shot but this one is not for me.
Thanks for trying it, sorry you didn't wait for Transparent Forging, it's where we are heading, and everyone will have an equal change to forge Nxt. |
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Duomo
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January 22, 2014, 06:52:03 PM |
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Well it the initial stakeholder's did take investment to create the genesis block of nxt, but no one was really interested. The community is fantastic and I am also part of it. Someone even gave me 500 nxt to help me get started, how is that for hospitality? Yes I don't have a great chance of forging more nxt but there is a lot of potential for this second generation crypto-currency.
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FrictionlessCoin
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Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
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January 22, 2014, 08:54:50 PM |
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If you folks are looking for a coin with similar characteristics as NXT and doesn't smell like a scam, then consider NEX. NEX will be the complete opposite of Nxt.Free - You can acquire the coin on IPO for free. Fair - Distributed to as many people as possible. Secure - No more people losing wallets because their passphrase gets hacked. Robust - No more out of memory errors. Fast - No more waiting days to have coins sent to an exchange. Clean - Squeeky clean reputation as compared to the rat infested Nxt community. Fun - "My Interest, You Havz it"! Known Author - Carlos Perez (not some anonymous person)  |
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Vega
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January 22, 2014, 09:05:15 PM |
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If you folks are looking for a coin with similar characteristics as NXT and doesn't smell like a scam, then consider NEX.
NEX will be the complete opposite of Nxt.
Free - You can acquire the coin on IPO for free.
Fair - Distributed to as many people as possible.
Secure - No more people losing wallets because their passphrase gets hacked.
Robust - No more out of memory errors.
Fast - No more waiting days to have coins sent to an exchange.
Clean - Squeeky clean reputation as compared to the rat infested Nxt community.
Fun - "My Interest, You Havz it"!
Known Author - Carlos Perez (not some anonymous person)
And everyone gets a free unicorn! |
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divinity
Member
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Activity: 70
Merit: 10
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January 23, 2014, 02:40:06 AM |
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Thanks for trying it, sorry you didn't wait for Transparent Forging, it's where we are heading, and everyone will have an equal change to forge Nxt.
Who's to say I won't come back - it has promise but for now the fact that you need to keep throwing money into your fund just to forge and have to keep throwing more money into your wallet to compete with other who have more forging power (coins) than you, doesn't appeal. Equal opportunity for forging would appeal. |
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User705
Legendary
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Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
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January 23, 2014, 02:47:42 AM |
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Thanks for trying it, sorry you didn't wait for Transparent Forging, it's where we are heading, and everyone will have an equal change to forge Nxt.
Who's to say I won't come back - it has promise but for now the fact that you need to keep throwing money into your fund just to forge and have to keep throwing more money into your wallet to compete with other who have more forging power (coins) than you, doesn't appeal. Equal opportunity for forging would appeal. How exactly would you do equal opportunity for forging? You alone dictate how much money you want to spend and therefore how much of chance you have. It's the same in BTC world. You can buy a block erupter for $50 or ASICs for $50K and your chances are dictated by that. You are just as unlikely to ever find a block with that $50 block erupter in the BTC world. Oh BTW $50 is about 750Nxt. So are you leaving BTC as well then? |
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FrictionlessCoin
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Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
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January 23, 2014, 02:49:29 AM |
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Thanks for trying it, sorry you didn't wait for Transparent Forging, it's where we are heading, and everyone will have an equal change to forge Nxt.
Who's to say I won't come back - it has promise but for now the fact that you need to keep throwing money into your fund just to forge and have to keep throwing more money into your wallet to compete with other who have more forging power (coins) than you, doesn't appeal. Equal opportunity for forging would appeal. Did I understand forging correctly? No new coins are created, all you get are the transaction fees. Is that correct? |
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Come-from-Beyond
Legendary
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Activity: 2142
Merit: 1009
Newbie
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January 23, 2014, 06:53:50 AM |
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Did I understand forging correctly? No new coins are created, all you get are the transaction fees. Is that correct?
Correct. |
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FrictionlessCoin
Legendary
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Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
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January 24, 2014, 04:20:42 AM |
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This is the FAIR distribution that the Nxt folks are so proud of:  This is a graph of the original NXT distribution. 73 accounts. Here are the numbers: 36742 1970092 349130 24880020 2867856 9975150 2690963 7648 5486333 34913026 997515 30922966 6650 44888 2468850 49875751 <-- Did he pay in? 49875751 <-- Did he pay in? 9476393 49875751 <-- Did he pay in? 14887912 528683 583546 7315 19925363 29856290 5320 4987575 5985 24912938 49875751 <-- Did he pay in? 2724712 1482474 200999 1476156 498758 987540 16625250 5264386 15487585 2684479 14962725 34913026 5033128 2916900 49875751 <-- Did he pay in? 4962637 170486123 <--- 170 million Nxt 8644631 22166945 6668388 233751 4987575 11083556 1845403 49876 3491 3491 9476 49876 6151 682633 49875751 <-- Did he pay in? 482964 4988 49875751 <-- Did he pay in? 4988 9144 503745 49875751 <-- Did he pay in? Yup, 50million each 52370 29437998 585375 9975150 |
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salsacz
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January 24, 2014, 04:37:04 AM |
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49985380
49875751
49875751
49875751
49875751
49875758
49876257
49875751
34913026
49875651
30922966
29856290
29437998
24912938
24880020
22166945
19925363
16625250
15487585
14962725
14887912
11083556
9975150
9,975,150
9,476,393
8,644,631
6,668,388
5,486,333
5,264,386
5,033,128
4,987,575
4,987,575
4,962,637
2,916,900
2,867,856
2,724,712
2,690,963
2,684,479
2,468,850
1,970,092
1,845,403
1,476,156
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FrictionlessCoin
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Merit: 1000
Cryptotalk.org - Get paid for every post!
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January 24, 2014, 04:41:17 AM |
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easier with the links Original Stakeholders http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4747512364439223888http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4277298711855908797http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6878906112724074600http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=17228894143802851995http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9433259657262176905http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=14839596582718854826http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4071545868996394636http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=15558257163011348529http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9161949457233564608http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=2175830371415049383http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=2584657662098653454http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=5491587494620055787http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=17491178046969559641http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6785084810899231190http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=818877006463198736http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=10738613957974090819http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=5430757907205901788http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=7579216551136708118http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=8517842408878875334http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9037328626462718729http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4777958973882919649http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=11706312660844961581http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=18388669820699395594http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1600633904360147460http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4454381633636789149http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=10339765764359265796http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=10890046632913063215http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1965151371996418680http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=8278234497743900807http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9230759115816986914http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=5982846390354787993http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=11541844302056663007http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9988839211066715803http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=9306550122583806885http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1264744488939798088http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=7017504655955743955http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1796652256451468602http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=8870453786186409991http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=3684449848581573439http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=620741658595224146http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=12101431510634235443http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=7542917420413518667and money 49985380 49875751 49875751 49875751 49875751 49875758 49876257 49875751 34913026 49875651 30922966 29856290 29437998 24912938 24880020 22166945 19925363 16625250 15487585 14962725 14887912 11083556 9975150 9,975,150 9,476,393 8,644,631 6,668,388 5,486,333 5,264,386 5,033,128 4,987,575 4,987,575 4,962,637 2,916,900 2,867,856 2,724,712 2,690,963 2,684,479 2,468,850 1,970,092 1,845,403 1,476,156 Did you forget the 170 million NXT account? But you can see from the graph, how fair it is. The top 8 accounts are 50 million each, meaning 400 million, plus the 170 million account is 570 million.... so 9 accounts have almost 60% of all coins. |
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salsacz
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January 24, 2014, 04:42:59 AM |
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gimme an ID, I dont know about it. this is fair and normal distribution  |
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