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Topic: NXT :: descendant of Bitcoin - Updated Information - page 1196. (Read 2761624 times)

hero member
Activity: 784
Merit: 501
Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?
No. You can't send coins from account with non-positive balance.

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?
A lot of transactions are coming in. This is transactions with alias assignment, that's why they have zero values.
hero member
Activity: 600
Merit: 500
Nxt-kit developer
Is that going to blow out the memory of Nxt nodes?

Omg, read how alias registration works
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
I am not talking about anonymous corporation which sound very futuristic and ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally.

If we are talking about "proper public companies" then I don't see any reason why they wouldn't just stick to stock exchanges - there is nothing for them to gain but a bad reputation if they start listing on P2P Exchanges IMO.

BTW - I am not a US citizen so its laws are actually not well known to me at all.

Now talk about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList. In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundrasing and stock exchage is pretty much parallel to process that Bitcoin  revolutionize the concept of currency and payment.

I don't agree - the advantage that a P2P Exchange has is simply allowing anonymity. Any decent public company doesn't need that and so doesn't need P2P and the "bad rep" that comes with it.

A "revolution" would be a company whose rules work entirely upon "math" and therefore "don't need" laws or lawyers. We may see that down the track but I don't think that Nxt Asset Exchange has been created with this in mind (nor what is being developed in at least most other similar projects).
legendary
Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?
No. You can't send coins from account with non-positive balance.

Am I seeing this correctly?  A lot of transactions of zero value are coming out.   

Is that going to blow out the memory of Nxt nodes?

sr. member
Activity: 602
Merit: 268
Internet of Value
In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future.

That is simply not going to work - the laws about public companies are very strict and very different in every single country (btw - stop thinking that the US is all that matters, please).

So thinking that some sort of anonymous corporation would be covered by *any* specific countries laws just doesn't make sense (as they are contradictory).

To have a corporation *work* in a decentralised manner means that lawyers and laws *must not apply*.

It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this).


I am not talking about the autonomous corporation which sounds very futuristic but ultimately a very dubious concept, imho. I am talking about proper public companies with owners and shareholders. I talk about U.S law because you are more familiar with it but the principle should apply globally. Now talking about US in specifics, fundraising law is changing as we speak now. I have a big plan regarding this area and a model that could eventually surpass AngelList.

In some countries, the process would even much easier. In some countries are harder. But in general the process to revolutionize the concept of fundraising and stock exchange is pretty much parallel to process that Bitcoin revolutionize the concept of currency and payment.
hero member
Activity: 784
Merit: 501
Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?
No. You can't send coins from account with non-positive balance.
legendary
Activity: 2142
Merit: 1010
Newbie
Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?

Why not? Just do it.
hero member
Activity: 784
Merit: 501
How the hell?! Was it a dictionary attack too? Huh

That's THE example why noone should use well-known quotes as password!

Ok, I guess if you consider that it's a crypto community and that's the very first line of Orwell's most popular book, it becomes plausible...
Btw, do we need fresh "facepalm" picture? Smiley

legendary
Activity: 868
Merit: 1000
Cryptotalk.org - Get paid for every post!
Btw, why NRS shows genesis account's balance as -5 ?

Is that for real?  The genesis address/account got cracked?

What are the implications?  Anyone can create and assign Nxt to himself?
hero member
Activity: 840
Merit: 1002
Simcoin Developer
How the hell?! Was it a dictionary attack too? Huh

That's THE example why noone should use well-known quotes as password!

Ok, I guess if you consider that it's a crypto community and that's the very first line of Orwell's most popular book, it becomes plausible...

On the other hand, doctorevil wrote his program in Java - a strange choice for password cracking tool - and had only 2 posts before making his grand announcement, looks a bit suspicious...
legendary
Activity: 1162
Merit: 1005
Has anyone tried to install NRS on LG Smart TV set?

I have one. How do i go about installing

I asked the same question.

Now I'm in stage to install and run Linux on Android stick. Had a lot of problems to root the stick, but finally i succeeded. Now is the Linux headache. Smiley
legendary
Activity: 2142
Merit: 1010
Newbie
Btw, why NRS shows genesis account's balance as -5 ?

Too many transactions maybe. Don't worry, Nxt core correctly shows the balance:

http://localhost:7874/nxt?requestType=getBalance&account=1739068987193023818
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
In essense, a public company is a profit sharing social contract to its investors. It does not matter if the company shares are listed in NYSE or NXT asset exchange; it matters whether that social contract is recognized by prevalent laws of the local authority. In U.S there is nothing to prevent a written contract to be enforced in the court of law even without a presence of a proper lawyer. So in theory, a small company can have their charter clearly written, raise the funding and list their shares in a decentralized stock exchanges and have the enforcement falls into the purview of the local authority. It could work and could become very popular in the future.

That is simply not going to work - the laws about public companies are very strict and very different in every single country (btw - stop thinking that the US is all that matters, please).

So thinking that some sort of anonymous corporation would be covered by *any* specific countries laws just doesn't make sense (as they are contradictory).

To have a corporation *work* in a decentralised manner means that lawyers and laws *must not apply*.

It can only have meaning through a digital contract that is enforced by math and I don't think that the Asset Exchange feature is actually going to do this (Ethereum may get closer although I think Open Transactions probably the closest so far to achieving this).
hero member
Activity: 784
Merit: 501
Btw, why NRS shows genesis account's balance as -5 ?
legendary
Activity: 2142
Merit: 1010
Newbie
There is still the BCnext bitcointalk account.
Apart from you and him, who knows the password?

Theymos could post using that account, maybe some other admins.
hero member
Activity: 784
Merit: 501
Genesis account passphrase was cracked before it was revealed - https://nextcoin.org/index.php/topic,3752.msg35274/topicseen.html#new

And cracked by Doctor Evil, no less! Cool

Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known...

Edit: Is it a coincidence that my contract is being over in April?

Quote
It was a bright cold day in April, and the clocks were striking thirteen.

How the hell?!

Was it a dictionary attack too? Huh

That's THE example why noone should use well-known quotes as password!
sr. member
Activity: 392
Merit: 250
Maybe BCnext will reveal his identity at thirteen o'clock on April 1st!

Now noone could prove that he is real BCNext. Smiley

There is still the BCnext bitcointalk account.
Apart from you and him, who knows the password?
member
Activity: 112
Merit: 10
Genesis account passphrase was cracked before it was revealed - https://nextcoin.org/index.php/topic,3752.msg35274/topicseen.html#new

And cracked by Doctor Evil, no less! Cool

Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known...

Edit: Is it a coincidence that my contract is being over in April?

Quote
It was a bright cold day in April, and the clocks were striking thirteen.


Maybe BCnext will reveal his identity at thirteen o'clock on April 1st!

Yes exactly
hero member
Activity: 840
Merit: 1002
Simcoin Developer
Genesis account passphrase was cracked before it was revealed - https://nextcoin.org/index.php/topic,3752.msg35274/topicseen.html#new

And cracked by Doctor Evil, no less! Cool

Btw, now BCNext can't prove that he is BCNext, anyone can sign a message using the genesis account. So we should expect that BCNext's real identity will never be known...

Edit: Is it a coincidence that my contract is being over in April?

Quote
It was a bright cold day in April, and the clocks were striking thirteen.

How the hell?!

Was it a dictionary attack too? Huh

legendary
Activity: 2142
Merit: 1010
Newbie
Maybe BCnext will reveal his identity at thirteen o'clock on April 1st!

Now noone could prove that he is real BCNext. Smiley
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