Topic: NXT :: descendant of Bitcoin - Updated Information - page 1230. (Read 2761626 times)

Hi all!

I want to show your website to take part in the contest "AM contest".

URl: http://nxtdb.info
Main idea: http://nxtdb.info/howitworks/

Thanks you 

Well, this was only for testing, look at the 2 new photos 

ah I see -
the 'unconfirmed transaction' has a timestamp from the issuer (ALICE), and BOB can see that, although it is not confirmed by a forger yet. So ALICE(15:00), BOB(15:05), but when the blocks are forged it will be CHARLIE(15:10(BOB)) and DAN(15:15(ALICE)).

Then using the 'unconfirmed timestamp' is the best information there is. But why would BOB fake the timestamp? For this individual transaction, it does not matter, and there is no profit for BOB to do cheat.

Only doing this on a routine basis to obfuscate his actions, and then he might get caught eventually ?!?!

Thanks!

Sure, there is not problem to make more. But keep care of the equipment at the conferences, we wont throw our moneys(NXT) away because of lazyness
If there is something broken after a conference, I can simply repair it!

Greets,
eb

PS.: The solar NXT node is now running without powersupply. Lets see how long this will run... forever?  
New photos here -> http://imgur.com/EpJdKJi,3vJ2Yv5#0

Alice places an ASK order - 10 BTC for 100 NXT at 15:00
Bob sees her unconfirmed transaction and places a BID order - 3 BTC for 100 NXT at 15:05
Charlie forges a block with Bob's transaction at 15:10
Dan forges a block with Alice's transaction at 15:15

3 days later we analyze the blockchain and see that Alice came to Bob, not Bob to Alice.

Also Bob could send his transaction with timestamp set to 14:30 (fake timestamp).

That is probably not worry - because that will be very unpractical, and there will be no way to cheat.
Consider: faking some timestamps does not give the faker a profit, and there will be many transactions.

It is only a feature for people to look at the trades after they have happened, and extract the information -
- 'buyer coming to seller' or 'seller coming to buyer' . if you look at a lot such transactions, you may get an idea of what is happening in the market, but how would anyone be able to cheat by faking many such data?

With Account Control. It's not related to account #.

http://87.230.14.1/nxt/nxt.cgi?action=40&sub=7

Original timestamp is saved, but it means nothing. It also can be faked by transaction sender.

Curious, how is multi-sig supposed to work when the account # is limited in length?

could it be possible to introduce a protected field 'timeOfCreation' into an order, that will not be overwritten by the forgers, and can then be put into the transaction field? I understand that there may be a reason for the forgers to overwrite the timestamps, but when we put the 'timeOfCreation' into a part of the payload of the order, we could get it out of the way of what the forgers are doing ...

The following features are listed under the wiki's 'planned features' section:

multisig/escrow
two-phase payments
smart contracts

So out of those three, it looks like some fairly robust contracts can be cooked up. I would personally like to see more info on smart contracts.

Forgers "overwrite" timestamps of transactions upon including into a block. Even worse, if 2 matched orders included into the same block then Resident/Initiator is determined by ids of the orders.

don't know - two orders are matched only when they cross in price - so the the one that comes later is the initiator, and the one that was there earlier is the resident. I think it would be enough to simply include the timestamps of the two orders, that is all information that is needed

OrderId can't be used, zero-amount orders r removed completely.



This won't work. Who is Resident and who is Initiator is defined by forgers, not by owners of orders.

yes, I have something important. Include the ORDERIDS of the two orders that have been used to create the trade!!!!

There is a very important extra information in each TRADE. The timestamps of the two orders are important,

Let me try to explain. In a limit order book with resident limit orders and instant market orders, we have the mechanism as follows: LimitOrders do nothing when they are not matched, but will NOT execute above or below their limit (not above for buy orders, or not below for sell orders).

Now consider the Market Orders: They get the next best OPPOSITE limit order for execution.

That means:
If I buy using a market order, I get the LOWEST sell limit order, i.e. I have to BUY ONE TICK UP
If I sell using a market order, I get the HIGHETS buy limit order, i.e. I have to sell ONE TICK DOWN

Do a roundtrip:  example:                     buy at lowest sell = buy at 101
                                    immediately     sell again at lowest buy = sell at 100 ---> INSTANT MONEY LOST!
                                                            
                                                             (DON'T DO THIS AT HOME!   )

The logic behind this is the following: A trade always has two counterparties, the buyer and the seller.

One of them is 'resident', the other is 'initiator'.

The 'initiator' always thinks that his wish to trade is more urgent than the 'resident'. This is reflected by the fact, that the 'resident' GETS THE BETTER DEAL of the two, because the 'initiator' has to pay the 'residents' price.

Sort of like a 'goes the mountain to the prophet, or the prophet to the mountain' - game. That's the market for you in a nutshell.

In the market, this will be reflected as follows:

When people are BUYING, it is lots of BUYERS who go to the SELLERS. THE PRICE GOES UP.
When people are SELLING, it is lots of SELLERS who go to the BUYERS THE PRICE GOES DOWN.

This is the result of many trades.
Thus, when looking at a TRADE, it is very important to be able to tell which of the two parties was the 'initiator', and which was the 'resident'!!!

NXT does not seem to have market orders, but market orders are emulated by limit orders, that simply cross the threshold of the other side.

But in order to be able to gather this important information, it should be enough to include the two order ids that have been matched into a trade, and extract their timestamps.

However, if the orders are destroyed when thay are matched, I think it is crucial to include the timestamps of the two orders in the TRANSACTION!!


(I'll just post this this, and if the layout explodes I'll edit it afterwards)

can there be contracts with nxt? is there a document?

On the same note, can I suggest that you get some panel mounted IO ports. Like this panel mounted USB port - http://www.adafruit.com/blog/2012/08/23/new-panel-mount-usb-cable-b-female-to-mini-b-male-and-panel-mount-usb-cable-b-female-to-micro-b-male/. One for the ethernet cable and solar panel connectors would look great too.

A couple of NXT stickers on the sides of the box, line the insides with strips of LEDs, a bit of cable management and it will look amazing. It's the little things that make a setup/prototype like this. From experience, if you're going to do this you have to do it right and not have it look hacked together. That will scream the wrong message at people - "You can only do something like this if you are a genius". Even removing the casing from the batteries might make the whole thing look a little bit cooler (by doing this you can access their power switches then, such that you could daisy chain the power switches to one master switch mounted on the front of the box).

Also, purely from an Electrical Engineers pedantic perspective - I would mount a small fan running at low RPM on one of the sides of the box to prevent the entire thing from overheating.

Keep up the good work!  

Edit: On a very slightly related note - I don't suppose anyone has been watching this thread: https://bitcointalksearch.org/topic/bitcoins-in-space-334701. We could potentially launch a satellite and a swarm of solar powered forgers that locally communicate with the satellite. While Bitcoin might beat us to the first blockchain broadcast to/from space we can surely be the first to successfully secure our network (by forging) in space.

TL;DR: NXT IN OUTERSPACE!

@ AE client devs:

What data about a trade do u need? Is this enough:

- asset
- quantity
- price
- block (to get timestamp)
- position relative to other trades from the same block
- account of the seller
- account of the buyer

?

Rickyjames, Texas conference etc --

I can send you additional business card holders. Also, I'll have my dad do a test run on the stainless steel water bottles and see how they turn out (fingers crossed).

rj, justabit, nifty etc -- how many people do we anticipate a team of Nxt representatives would meet over the course of a conference? IOW, if I was to engrave a batch of bottles (or keychains, or ), how many should I whip up? 20? 100?