NXT :: descendant of Bitcoin - Updated Information - page 1223.

nakaone

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Quote from: FrictionlessCoin on January 31, 2014, 12:43:50 PM

Quote from: Trade101 on January 31, 2014, 12:42:21 PM

Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

I think the idea in general was pretty good... but as we can now see it´s only useful for the lucky few
who own several million Nxt.

More specifically, the 9 people who own 50 million Nxt each.

if I understand it correctly proof stake will not be the only way to forge coins.

Damelon

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Quote from: FrictionlessCoin on January 31, 2014, 12:41:51 PM

Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

It ain't, early adopters get richer. That is what proof of stake is. The more stake I have, the richer I become.

Show me any project that is a success where this isn't the case.

Too much time on your hands on Friday evening, Intern?

FrictionlessCoin

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Quote from: Trade101 on January 31, 2014, 12:42:21 PM

Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

I think the idea in general was pretty good... but as we can now see it´s only useful for the lucky few
who own several million Nxt.

More specifically, the 9 people who own 50 million Nxt each.

TwinWinNerD

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Activity: 1680

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CEO Bitpanda.com

Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

that is called variance + very good setup, he forged through every crisis!

also this is a more appropriet number: http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=2159498187382012684

Trade101

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Activity: 126

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Bitstamp trader

Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

I think the idea in general was pretty good... but as we can now see it´s only useful for the lucky few
who own several million Nxt.

FrictionlessCoin

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Quote from: pocesar on January 31, 2014, 12:38:27 PM

An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

It ain't, early adopters get richer. That is what proof of stake is. The more stake I have, the richer I become.

FrictionlessCoin

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Quote from: Eadeqa on January 31, 2014, 12:37:12 PM

Quote from: FrictionlessCoin on January 31, 2014, 12:35:39 PM

Quote from: pocesar on January 31, 2014, 12:10:59 PM

There's one guy at one address (4747512364439223888) with 50 million NXT, creating block after block... not really fair I guess, but neither is Bitcoin mining.

check in http://87.230.14.1/nxt/nxt.cgi?action=100

Is that another Nxt flaw? It forces users to keep all their coins in a single address. If this single address is compromised, the loss can be much higher than a lot of addresses.

It does not forces anything. If the user doesn't want to forge, he can split it all he wants

If the guy has a lot of coin, then the incentive is to put all that coin into one address and to forge with it.

Sheesh!

pocesar

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An account with 2 million NXT generated 28 NXT... the 50 million NXT guy generated almost 100k NXT lol

The concept is pretty flawed. Whoever gets the most coins makes most coins, how is that different from ASICs on Bitcoin? Someone care to explain?

Eadeqa

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Activity: 644

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Quote from: FrictionlessCoin on January 31, 2014, 12:35:39 PM

Quote from: pocesar on January 31, 2014, 12:10:59 PM

There's one guy at one address (4747512364439223888) with 50 million NXT, creating block after block... not really fair I guess, but neither is Bitcoin mining.

check in http://87.230.14.1/nxt/nxt.cgi?action=100

Is that another Nxt flaw? It forces users to keep all their coins in a single address. If this single address is compromised, the loss can be much higher than a lot of addresses.

It does not forces anything. If the user doesn't want to forge, he can split it all he wants

FrictionlessCoin

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Quote from: Eadeqa on January 31, 2014, 12:31:10 PM

Quote from: FrictionlessCoin on January 31, 2014, 10:48:31 AM

Quote from: bidji29 on January 31, 2014, 10:43:38 AM

To avoid the situation were people choose weak password, there is a simple solution.
Do not let them choose. The client should generate an account itself.

It would be like the bitcoin private keys. Hidden from the user, unless he's looking for it.

But to do that, then you need a wallet. That's because the user will not be able to memorize the key.

Nxt doesn't have a wallet.

A "wallet" is nothing more than a file with private key in it. This can be done on client side.

I think the upcoming official client by "Nexern" uses the following system, and I really like it.

Ask the user to make a password (does not have to be strong). Make a random string and combine them both, so it will look like this:

(1) The user makes a password called say "mypassword".

(2) The client makes a random password that is say "fdhghfgfdk5756fhfgh44r677#"

The client saves that random password in wallet.dat

Now the user's full Nxt password would be "mypassword_fdhghfgfdk5756fhfgh44r677"

That would be impossible to crack.

The "mypassword" part will exist in user's brain, and fdhghfgfdk5756fhfgh44r677 part is saved in wallet.dat

Make sure to remind the user to backup wallet.dat.

Is the nexern wallet open source? Where can I borrow it?

FrictionlessCoin

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Quote from: pocesar on January 31, 2014, 12:10:59 PM

There's one guy at one address (4747512364439223888) with 50 million NXT, creating block after block... not really fair I guess, but neither is Bitcoin mining.

check in http://87.230.14.1/nxt/nxt.cgi?action=100

Is that another Nxt flaw? It forces users to keep all their coins in a single address. If this single address is compromised, the loss can be much higher than a lot of addresses.

nexern

hero member

Activity: 597

Merit: 500

Quote from: visaco on January 31, 2014, 12:21:50 PM

why nxt client looks old ?...the skin is awful
plz change it ...

you can change this later by yourself.
i prefer a clean and minimalistic approach for tools. you won't find blinki, blinki icons here, just pure usage.
but you can change colors and effects for the widgets like 3d buttons if you need this.

Eadeqa

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Activity: 644

Merit: 500

Quote from: FrictionlessCoin on January 31, 2014, 10:48:31 AM

Quote from: bidji29 on January 31, 2014, 10:43:38 AM

To avoid the situation were people choose weak password, there is a simple solution.
Do not let them choose. The client should generate an account itself.

It would be like the bitcoin private keys. Hidden from the user, unless he's looking for it.

But to do that, then you need a wallet. That's because the user will not be able to memorize the key.

Nxt doesn't have a wallet.

A "wallet" is nothing more than a file with private key in it. This can be done on client side.

I think the upcoming official client by "Nexern" uses the following system, and I really like it.

Ask the user to make a password (does not have to be strong). Make a random string and combine them both, so it will look like this:

(1) The user makes a password called say "mypassword".

(2) The client makes a random password that is say "fdhghfgfdk5756fhfgh44r677#"

The client saves that random password in wallet.dat

Now the user's full Nxt password would be "mypassword_fdhghfgfdk5756fhfgh44r677#"

That would be impossible to crack.

The "mypassword" part will exist in user's brain, and fdhghfgfdk5756fhfgh44r677# part is saved in wallet.dat

Make sure to remind the user to backup wallet.dat.

gimre

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Activity: 866

Merit: 1002

Quote from: Come-from-Beyond on January 31, 2014, 12:00:06 PM

Quote from: FrictionlessCoin on January 31, 2014, 11:55:41 AM

Quote from: Come-from-Beyond on January 31, 2014, 11:50:17 AM

Quote from: xyzzyx on January 31, 2014, 11:49:12 AM

1. Write an OpenCL implementation of Curve25519.

http://www.jcuda.org/

OpenCL not CUDA.

FC never changes... *facepalm*

xyzzyx was asking for OpenCl,
I think what FC meant is that writing for Cuda != writing for OpenCl...

(don't batter him everytime, just cause he started as a troll)

opticalcarrier

full member

Activity: 238

Merit: 100

Quote from: TwinWinNerD on January 31, 2014, 12:06:54 PM

You say that it is scary, but that is exactely what is happening with BTC and the brainwallet apllication. Someone created huge rainbowtables and runs a bot that detects incoming tx and just sweaps all accounts. Everything that is shorter than 12-14 digits ist just sweapt within <0.5 seconds.

Ive just sent a message to Jean-Luc:

Quote

or the next release can you change "Your secret phrase is too short
and can be easily picked by a hacker!" to be "This passphrase is too short, and will most likely result in NXT being stolen! Do not use words, sentences, or any literary or common phrase or sentence. A secure passphrase will be at least 35 characters long and consist of random numbers, letters, and special characters. Or you can use a combination of 10 random words that make no sense when put together"

also, when the user attempts to unlock an account, when the popup that comes up with the text box for the user to enter the passphrase in, please also print "A simple passphrase will most likely result in NXT being stolen! Do not use any common phrase or a sentence that makes common sense, or that is common in spoken/literary world. A secure passphrase will be at least 35 characters long and consist of random numbers, letters, and special characters. Or you can use a combination of 10 random words that make no sense when put together"

NxtChg

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Activity: 840

Merit: 1002

Simcoin Developer

Quote from: Agent86 on January 31, 2014, 11:57:22 AM

I think at some point it's best if a new address format gets integrated more than just at the client level.

Over CfB's dead body.

msin

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Activity: 1470

Merit: 1004

Quote from: visaco on January 31, 2014, 12:21:50 PM

Quote from: nexern on January 31, 2014, 11:55:15 AM

how compact a full featured client (inluding distributed application/smart contract features) can be?

i tell you: 665kb / 406 kb zipped, yeah!. even if i would add a complete chart engine for AE, the size wouldn't pass 950kb for the executable.
(compared to other alt coins clients which are between 20-50 times larger by less functionality)
the client is sdi based, means only the center hup starts folded, subcategories unfold on demand. all others windows can be arranged as desired. this saves screen space.
atm i am re-composing the gui to adding a native screenshot function to the client, means every important form (like send/balance etc.) has an screen button, dumping
the whole dialog content into a clean rendered png image. here is a send funds png created by this function.

http://www.nxtexplorer.com/download/send-screen.png

here is a 1:1 screenshot with offense coloring from the complete app-hub (including a small gui bug) ;-)

http://www.nxtexplorer.com/download/nxt-hub-screen.png

the user can change the colors later via textfile. atm i am using the dark color scheme, just prefer high contrast and good viewable fonts
when acting with funds. some screens can folded or doing this on demand. the client is not ready yet but i am working hard to finish the dev asap.
the distributed application/smart contract logic took me 5 days which was planed for AE but i am simply eager to show the first real running protoype
by nxt while others concepting. with release, a fully functional quoteboard DNA prototype will be included.
during test, the remotly executed and sandboxed DNA sourcecode will be hosted on blockexplorer node but could be located everywhere. AM is used
for payment and access signaling. not every workflow is solved for DNA, this needs a little more brainstorming but i am confident nxt will run the first one.

why nxt client looks old ?...the skin is awful
plz change it ...

Really, I think it looks awesome! Great job nexern.

msin

legendary

Activity: 1470

Merit: 1004

Quote from: Come-from-Beyond on January 31, 2014, 12:12:21 PM

Quote from: pocesar on January 31, 2014, 12:10:59 PM

There's one guy at one address with 50 million NXT, creating block after block... not really fair I guess, but neither is Bitcoin mining.

4747? He is waiting for Asset Exchange. At least he said so.

Yeah, that guys sucks, really hope he sells all his Nxt as he contributes nothing to the community.

visaco

sr. member

Activity: 359

Merit: 250

Quote from: nexern on January 31, 2014, 11:55:15 AM

how compact a full featured client (inluding distributed application/smart contract features) can be?

i tell you: 665kb / 406 kb zipped, yeah!. even if i would add a complete chart engine for AE, the size wouldn't pass 950kb for the executable.
(compared to other alt coins clients which are between 20-50 times larger by less functionality)
the client is sdi based, means only the center hup starts folded, subcategories unfold on demand. all others windows can be arranged as desired. this saves screen space.
atm i am re-composing the gui to adding a native screenshot function to the client, means every important form (like send/balance etc.) has an screen button, dumping
the whole dialog content into a clean rendered png image. here is a send funds png created by this function.

http://www.nxtexplorer.com/download/send-screen.png

here is a 1:1 screenshot with offense coloring from the complete app-hub (including a small gui bug) ;-)

http://www.nxtexplorer.com/download/nxt-hub-screen.png

the user can change the colors later via textfile. atm i am using the dark color scheme, just prefer high contrast and good viewable fonts
when acting with funds. some screens can folded or doing this on demand. the client is not ready yet but i am working hard to finish the dev asap.
the distributed application/smart contract logic took me 5 days which was planed for AE but i am simply eager to show the first real running protoype
by nxt while others concepting. with release, a fully functional quoteboard DNA prototype will be included.
during test, the remotly executed and sandboxed DNA sourcecode will be hosted on blockexplorer node but could be located everywhere. AM is used
for payment and access signaling. not every workflow is solved for DNA, this needs a little more brainstorming but i am confident nxt will run the first one.

why nxt client looks old ?...the skin is awful
plz change it ...

pocesar

member

Activity: 105

Merit: 10

Quote from: PeercoinEnthusiast on January 31, 2014, 12:14:21 PM

Quote from: pocesar on January 31, 2014, 12:10:59 PM

There's one guy at one address (4747512364439223888) with 50 million NXT, creating block after block... not really fair I guess, but neither is Bitcoin mining.

check in http://87.230.14.1/nxt/nxt.cgi?action=100

Quote:
the concept of ‘fair’ doesn’t apply to the universe, and it makes no sense to force it. The world just is—it is what it is—and you can complain about it, sulk, hate it all you want—or, you can pay attention to the averages, to the rules that work most consistently, try to learn and apply those rules consistently, and hope for the best.
David A. Johnston

From http://www.nxtcrypto.org/:

Quote

[...]
This allows everyone on the Nxt network to have the same reward potential no matter the amount of Nxt you own.

At least, misleading.

Topic: NXT :: descendant of Bitcoin - Updated Information - page 1223. (Read 2761624 times)