[ANN] Nxt to NEX Buy In - Exchange 1 Nxt for 50 NEX (MODERATED)

[FrictionlessCoin]

NEX (NEX is an EXchange) Coin


50,000,000 NEX has been issued in the Nxt Asset Exchange.

Asset Id:  4420962345269767688   https://trade.secureae.com/#4420962345269767688

Please send PM from the account you signified in your original pledge.

Please wait for a confirmation message as to the amount of NEX you will be allowed to purchase.

Any NEX that have not been purchased through this method will be offered to participants in the waiting list and on the open market.

Use:  http://www.nexcoin.net/ to express interest!

Google Doc Spreadheet of NEX allocation:  https://docs.google.com/a/codeaudit.com/spreadsheet/ccc?key=0AhwgzhIO_YCedEM4Tld4V05JRXh5Z09ZZS1KR2JYa0E#gid=0



NEX distribution to be fair to all will be merit based.

You automatically get a percentage of NEX if you show interest.

You get a percentage every time you contribute to NEX.

For the Nxt users who feel disenfranchised,  we will allocate 5% of NEX that they can purchase in exchange for NXT.  We will offer a steep discount of 1 NXT for 50 NEX.   5% of NEX is 50 million coins, this is a hard limit.  Nxt Coin holders are limited to 500,000 NEX per user.   The offer ends when NEX is distributed or the 5% is exhausted.   Nxt owners... this is your opportunity to become an early adopter.  

Please post here to signify your interest in performing the exchange.

Please include the amount of Nxt you want to exchange.  We will only accept 1 million Nxt.   This is a hard limit.  

This offer is open now and will close when 1 million Nxt is reached.

We reserve the right to cancel any request.

News:  The genesis account from where all Nxt coins comes from was just recently compromised:

Fun fact: the genesis account http://www.mynxt.info/blockexplorer/details.php?action=ac&ac=1739068987193023818 that credited all the original stakeholders used this passphrase:

Quote from: 1984 - George Orwell
It was a bright cold day in April, and the clocks were striking thirteen.

As I've pointed out in my first post https://nextcoin.org/index.php/topic,3608.msg34002.html

1.5% of NXT accounts are trivially crackable with a 15 line script and a widely-available passphrase list (the rockyou leak dataset).

I've let my script keep running on more lists since then and at current measure have recovered the passphrases of a little more than 3% of all accounts that have ever been used.  Since genesis ~8M NXT has been sent to these "weak" accounts.

As I pointed out in my original post, my motivation for doing this was to investigate the root cause of the rash of thefts that had been reported (since I suspected weak passphrases) as well as prod the devs to drop the brainwallet-based key management scheme as the default option.  I actually cracked the genesis account a few days ago but originally thought my code was just buggy when I saw it's balance was negative ... LOL.

As a side note, I should point out that widespread knowledge of the genesis account key isn't a security issue per se.  Although I'd advise devs to be defensive moving forward about the possibility of integer overflow/underflow whenever dealing with amounts/fees now that the whole world has access to an account with a negative balance.

5000, OOO
1000, romawi
10000, garicup
10000, nomailing
20000, canth <--- exceeds limit
10000, chetalk
3000, kolbas
10000, teco051
10000, bitular
8000, indigon
4000, homerzhu
2000, nfigueir
5000, tobyliciously
10000, atomiclock
1000, hvezdasmrti
10000, smophf7
10000, ow48uh
10000, rioshock2
1000, fragout
10000, sottymax
4000, LeFiste
10000, soarlyzed
10000, snipedrunk
2000, Swisscoin
5000, dannac
10000, fibbonac1z
10000, vemdoctor9
5000, Siegtal81
5000 irrawaddybtc
10000 Franconomasky
2000 cntrlsquare
10000 Jaguar0625
5000 NapoBear
10000 tylenol3mit
6000 dlog
1000 toolatetoberich?
2465 eXme
10000 miramare
1000 langkeming
1000 steyast012
1100 alrose
7000 bitfromit
1000 icoinv
4000 lenco
1000 Msile
10000 ripplebtc
10000 cremstopper
10000 jajansen
2683  lonesoul
5000 zurra
5000 td services
10000 lda1000
  7000 SyRenity
10000 wallacemckart
10000 Attack.of.the.Clones
 3000 serogen
 4000 atleticofa
  7500 Kuttingco
 7500 Kuttingcorners
10000 User705
 1000 tk808
 1000 virtualaddict
10000 Revelations86
 2500 psybits
10000 aa417444103  

408,000 total <-- 40% of Limit
Limit is 1,000,000 NXT
Limit 10,000 NXT per User
Amounts under 1000 NXT not listed here but will be included

Appears to be around 100,000 NXT commitments per day. This will likely close in 7 days. So don't forget to make your reservation.

[1713579113]

1713579113

[1713579113]

1713579113

[1713579113]

1713579113

[1713579113]

1713579113

[FrictionlessCoin]

5000, OOO
1000, romawi
10000, garicup
10000, nomailing
20000, canth <--- exceeds limit
10000, chetalk
3000, kolbas
10000, teco051
10000, bitular
8000, indigon
4000, homerzhu
2000, nfigueir
5000, tobyliciously
10000, atomiclock
1000, hvezdasmrti
10000, smophf7
10000, ow48uh
10000, rioshock2
1000, fragout
10000, sottymax
4000, LeFiste
10000, soarlyzed
10000, snipedrunk
2000, Swisscoin
5000, dannac
10000, fibbonac1z
10000, vemdoctor9
5000, Siegtal81
5000 irrawaddybtc
10000 Franconomasky
2000 cntrlsquare
10000 Jaguar0625
5000 NapoBear
10000 tylenol3mit
6000 dlog
1000 toolatetoberich?
2465 eXme
10000 miramare
1000 langkeming
1000 steyast012
1100 alrose
7000 bitfromit
1000 icoinv
4000 lenco
1000 Msile
10000 ripplebtc
10000 cremstopper
10000 jajansen
2683  lonesoul
5000 zurra
5000 td services
10000 lda1000
  7000 SyRenity
10000 wallacemckart
10000 Attack.of.the.Clones
 3000 serogen
 4000 atleticofa
  7500 Kuttingco
 7500 Kuttingcorners
10000 User705
 1000 tk808
 1000 virtualaddict
10000 Revelations86
 2500 psybits
10000 aa417444103 
   1000 sydorFunk
   2500 silanmil
9500 solracx
9500 Come-from-Beyond
10000 hunglejungle
5000 godt
10000 olano
 1000 mingophoria
 2000 yshuifejng
 7500 mattmct
 2000 Onkel S.
2000 Microove
1000 Maverick69
5000  kavin2468


475,000 total <-- 47% of Limit
Limit is 1,000,000 NXT
Limit 10,000 NXT per User
Amounts under 1000 NXT not listed here but will be included

Appears to be around 100,000 NXT commitments per day. This will likely close in 7 days. So don't forget to make your reservation.

[steyast012]

5000000000 is better, so the price will not be too high, will be more attractive.

[FrictionlessCoin]

5000000000 is better, so the price will not be too high, will be more attractive.

Not sure what you mean.

[lenco]

so，this is like a pre-pre-sale? We just enrolled,when you are ready, then the exchange begins!??
wow,this is much better than NXT, the early NXT shareholder has a 20000X pay back!!!! That' within no more than half a year.
I hate people crowed to buy NXT.

 

[FrictionlessCoin]

so，this is like a pre-pre-sale? We just enrolled,when you are ready, then the exchange begins!??
wow,this is much better than NXT, the early NXT shareholder has a 20000X pay back!!!! That' within no more than half a year.
I hate people crowed to buy NXT.

Yes,  just reserve.  When the coin is available, then you can purchase. 

You can back out anytime. 

The NXT folks keep screaming its a scam,  but they are just saying this to scare away competitors. 

I assure you,  this is the real deal.

Think about the flaws of Nxt:

(1) No database.
(2) Poor wallet security.
(3) Insecure proof of stake scheme.
(4) Difficult address formatting.
(5) Closed source
(6) Anonymous founder and anonymous developers
(7) 21 BTC buy 100% of 1 billion coins,  how fair is that?
( Uneven distribution,  4 guys have like 70% of all the coins.

[FrictionlessCoin]

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

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

This is a real and fair Nxt distribution, do not listen to his liar.

[FrictionlessCoin]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

[aTriz]

Put me down!

10,000 nxt

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

to everyone who paid 1 Bitcoin

[FrictionlessCoin]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

to everyone who paid 1 Bitcoin

Okay... did the original devs get any coin?   Is so,  how much?

[salsacz]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake.  

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

to everyone who paid 1 Bitcoin

Okay... did the original devs get any coin?   Is so,  how much?

Q:    how many bitcoins are you going to contribute? (Are you going to keep the coins you contributed yourself?  Or you will take a creator cut (certain %)
BCNext::    I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.

What happened with the 21 Bitcoins?

Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.  21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.  BCNext did everything only for the people, not for the money.

The original funding period was open for over a month and a half.  That was more than enough time for everyone who wanted to invest to invest.  The only reason he only collected 21 BTC was because there was very little interest.  No matter when the IPO period ends there will always be people who are "left out".  You could conduct the IPO over a period of a thousand years and there would still be people "left out".

[FrictionlessCoin]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake.  

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

to everyone who paid 1 Bitcoin

Okay... did the original devs get any coin?   Is so,  how much?

Q:    how many bitcoins are you going to contribute? (Are you going to keep the coins you contributed yourself?  Or you will take a creator cut (certain %)
BCNext::    I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.

What happened with the 21 Bitcoins?

Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.  21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.  BCNext did everything only for the people, not for the money.

The original funding period was open for over a month and a half.  That was more than enough time for everyone who wanted to invest to invest.  The only reason he only collected 21 BTC was because there was very little interest.  No matter when the IPO period ends there will always be people who are "left out".  You could conduct the IPO over a period of a thousand years and there would still be people "left out".

Do you have text that explains the 170 million unclaimed.   

[lenco]

This is the FAIR distribution (100% proof of stake) that the Nxt folks are so proud of:
170486123 <--- 170 million Nxt

Looks like 9 guys have a lot of stake. 

170 mega account didn't belong to anyone, it was used for unclaimed coins, they were being given to their owners till 3 January.

Hmmmm....  okay.... still you have 8 accounts that is 40%.   What about those accounts.  Who did it go to?

He blurred something, that is ,the NXT owner are far far fewer than BTC, let alone USD.
ever though bitcoin is 0.005% holding 28%, it's sill more more more than NXT's  counterpart.
0.001% Americans has 30% USD, that is  Americans' population × 0.001%，maybe (I guess)  more than all of NXT owner.

[tk808]

Friction add my cap to 2000 NXT

[cc5alive]

I just PM'ed and would like to invest 10,000 NXT.

[Bourbon44]

I would like to go in for 2500 NXT

[LiQio]

(1) No database.
(2) Poor wallet security.
(3) Insecure proof of stake scheme.
(4) Difficult address formatting.
(5) Closed source
(6) Anonymous founder and anonymous developers
(7) 21 BTC buy 100% of 1 billion coins,  how fair is that?
( Uneven distribution,  4 guys have like 70% of all the coins.

Please let us know what NEX will do compared to NXT.

(1 ) What database will you implement? What programming language btw.?
(2 ) How is the proposed security mechanism? Some pseudo-code would be nice.
(3 ) How is the currently implemented PoS insecure? How do you intend to improve it? Give some technical details please.
(4 ) How is the address space of NEX designed?
(5 ) Where did you upload the alpha version of NEX? It's open from the beginning I assume, right?
(6 ) You are Carlos Perez, correct? Who are your developers?
(7 ) You plan to rise 1 Mio NXT as buyin,  how is that fair compared to the 21 BTCs?
(8 ) How will you defend issuing NEX to the same guys (sockpuppet problem)? What will be your stake in NEX? What stakes will your partners and developers get?

I'm looking forward to your honest and detailed answers.

[extee]

I'm revising my original 500Nxt pledge to just 50Nxt =2500 Nex
reason is Nex is not gonna be a Nxt clone as you originally announced (and many pledged their nxt based on that asumption).
I appreciate that you are now trying to do something different/better as you say but it won't be easy and if you pull it off will take too much time.
also closing the original thread cos you couldn't moderate it made me more cautious
gl