Topic: [ANN] NEX :: Nxt Reimagined - Industrial Strength - Imagine Fairness! - page 20. (Read 102001 times)

FC,

How do verify I have a stake? And great work. these nxt guys can be relentless. If they spent half the time working on nxt that they spend trolling other coins, nxt would be better off!!

I just think FC has the wrong attitude to build a strong community, that's all.

I'm done with this clown.

Caveat emptor.

Showing interest is enough to be a 'Free loader' on NEX.  FC's words, not mine.

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.

Well it turns out that the original developer's account for Nxt has been cracked:

https://nextcoin.org/index.php/topic,3752.msg35274/topicseen.html#new

In fact, the person who did so claims that 3% of all Nxt accounts have already been compromised.

I am simply not surprised.

The actual distribution of the coin between VisaCoin, NEX, Free loaders and Developers have yet to be determined, but that will be known prior to any exchange.

How's that 'considerable risk' working out for you, FC? A bit of a U-turn if you ask me. Basically, you want >70BTC to make this coin, and also you're going to keep some of the NEX for yourself?

For the Nxt users who feel disenfranchised,  we will allocate 5% of NEX that they can purchase in exchange for NXT.

We are in fact taking considerable risk by tying the price to Nxt.

In fact, we rather not take Nxt as purchase price,  but we don't know where else Nxt holders can spend their coins.

If in the event that NXT prices continues to fall,  we reserve the right to request BTC at an exchange of 0.00007 BTC/NXT.

Yes exactly.  We want to do this correctly.

However, not only that, it will be extremely innovative.

So the IPO for NEX is... free?

Sounds cool and fair distribution...

I am very interested.

Is there a list of names/numbers of people that are interested/invested in NEX?

Yes exactly.  We want to do this correctly.

However, not only that, it will be extremely innovative.