NXT :: descendant of Bitcoin - Updated Information - page 1372.

standards

sr. member

Activity: 560

Merit: 261

Quote from: joefox on January 24, 2014, 11:01:25 PM

Quote from: standards on January 24, 2014, 08:33:06 PM

My friend told me I should register and take part in Nxt community.
It shocked me when I saw this long thread (maybe the longest one?).
I guess it will take me days to see it through.
Maybe I should find some easy to follow source, advice?

PS: This community is definitely awesome. Wish it is not too late to join.

http://wiki.nxtcrypto.org/!

Thanks a lot. I have been reading. Lots of readings to do this weekend Cheesy

joefox

full member

Activity: 210

Merit: 100

Quote from: standards on January 24, 2014, 08:33:06 PM

My friend told me I should register and take part in Nxt community.
It shocked me when I saw this long thread (maybe the longest one?).
I guess it will take me days to see it through.
Maybe I should find some easy to follow source, advice?

PS: This community is definitely awesome. Wish it is not too late to join.

http://wiki.nxtcrypto.org/!

iruu

full member

Activity: 148

Merit: 100

Quote from: msin on January 24, 2014, 10:28:53 PM

Little has been talked about the reason why BCNext went with 64 bit. When Nxt is accidentally sent to a random account # and is unrecoverable, its referred to as darkNxt. This darkNxt has no use to anyone, and sits in an account that is inaccessible. BCNext wanted to make it possible for powerful computers to be able to mine darkNxt in the future, so it was not lost forever, as all regular Nxt will be protected by 256bit private key accounts.

A horrible solution worse than a hypothetical non existing problem. Great.

The proper way would be to wait for the address to claim its first transaction, for a year or something like that...
maybe some nxt clone will fix all these little quirks

bithic

newbie

Activity: 56

Merit: 0

Quote from: msin on January 24, 2014, 10:28:53 PM

Quote from: iruu on January 24, 2014, 09:42:13 PM

Quote from: Fern on January 24, 2014, 09:08:46 PM

This guy obviously isn't impressed with NXT.

In Depth Analysis of NXT - http://cryptolife.net/in-depth-analysis-nxt/

Regarding NXT addressing. "If you were to generate an offline address and send coins to that address, you do not have explicit ownership of that address. Someone could come along with a passphrase that has a collision with yours, announce his public key to the network, and then have explicit ownership over your coins. This means that to claim ownership over an address, you are forced to expose your public key to the network. As mentioned before, doing this decreases the overall security of that address. You just can’t win. NXT is inherently less secure that Bitcoin. It is a total step backwards in that department. Also worth mentioning is that Bitcoin addresses have a 4 byte checksum that prevents you from sending to an invalid or incorrect address. NXT addresses do not."

Does anyone have an answer for this?

He's partially right about lack of security of offline addresses. 64 bits are not enough. For example, 64 bit RC5 was broken more than 10 years ago, by bruteforce, by distributed.net. Cracking offline addresses is practically possible, although the payout from this is very unlikely to be positive, you would need a ton of special asics. It's way easier and cheaper to take control of bitcoin's network than it is to crack offline nxt address. So effectively even offline nxt addresses are more secure than bitcoins. Still, it's not cryptographically secure.
He's wrong about lack of security due to publicizing public key, it's secure, no need for paranoia there. Online addresses (with public key) are secure.
He's right about lack of checksum.

Little has been talked about the reason why BCNext went with 64 bit. When Nxt is accidentally sent to a random account # and is unrecoverable, its referred to as darkNxt. This darkNxt has no use to anyone, and sits in an account that is inaccessible. BCNext wanted to make it possible for powerful computers to be able to mine darkNxt in the future, so it was not lost forever, as all regular Nxt will be protected by 256bit private key accounts.

A proposal to implement a new address format that protects against sending to incorrect addresses is outlined here:
http://wiki.nxtcrypto.org/wiki/New_Address_Format

msin

legendary

Activity: 1470

Merit: 1004

Quote from: iruu on January 24, 2014, 09:42:13 PM

Quote from: Fern on January 24, 2014, 09:08:46 PM

This guy obviously isn't impressed with NXT.

In Depth Analysis of NXT - http://cryptolife.net/in-depth-analysis-nxt/

Regarding NXT addressing. "If you were to generate an offline address and send coins to that address, you do not have explicit ownership of that address. Someone could come along with a passphrase that has a collision with yours, announce his public key to the network, and then have explicit ownership over your coins. This means that to claim ownership over an address, you are forced to expose your public key to the network. As mentioned before, doing this decreases the overall security of that address. You just can’t win. NXT is inherently less secure that Bitcoin. It is a total step backwards in that department. Also worth mentioning is that Bitcoin addresses have a 4 byte checksum that prevents you from sending to an invalid or incorrect address. NXT addresses do not."

Does anyone have an answer for this?

He's partially right about lack of security of offline addresses. 64 bits are not enough. For example, 64 bit RC5 was broken more than 10 years ago, by bruteforce, by distributed.net. Cracking offline addresses is practically possible, although the payout from this is very unlikely to be positive, you would need a ton of special asics. It's way easier and cheaper to take control of bitcoin's network than it is to crack offline nxt address. So effectively even offline nxt addresses are more secure than bitcoins. Still, it's not cryptographically secure.
He's wrong about lack of security due to publicizing public key, it's secure, no need for paranoia there. Online addresses (with public key) are secure.
He's right about lack of checksum.

Little has been talked about the reason why BCNext went with 64 bit. When Nxt is accidentally sent to a random account # and is unrecoverable, its referred to as darkNxt. This darkNxt has no use to anyone, and sits in an account that is inaccessible. BCNext wanted to make it possible for powerful computers to be able to mine darkNxt in the future, so it was not lost forever, as all regular Nxt will be protected by 256bit private key accounts.

standards

sr. member

Activity: 560

Merit: 261

Quote from: Mistafreeze on January 24, 2014, 09:49:32 PM

Nxt Reference Client Installer Update:

Another day, another update.

The installer is still for client 0.5.10, but it now handles updates on it's own. When I release a new version of the installer, simply download it and run it. It will now uninstall the previous version of NXT if it was installed using my installer, and install the new version.

Doesn't get to much easier than that.

Download it here @ Nextcoin.org: https://nextcoin.org/index.php/topic,1902.0.html

Or here at NxtCrypto.org: https://forums.nxtcrypto.org/viewtopic.php?f=15&t=311

Enjoy!

New stuff comes out here all the time. Nxt is sure in a steady way to success.

Mistafreeze

sr. member

Activity: 897

Merit: 284

Nxt Reference Client Installer Update:

Another day, another update.

The installer is still for client 0.5.10, but it now handles updates on it's own. When I release a new version of the installer, simply download it and run it. It will now uninstall the previous version of NXT if it was installed using my installer, and install the new version.

Doesn't get to much easier than that.

Download it here @ Nextcoin.org: https://nextcoin.org/index.php/topic,1902.0.html

Or here at NxtCrypto.org: https://forums.nxtcrypto.org/viewtopic.php?f=15&t=311

Enjoy!

hypersire

hero member

Activity: 596

Merit: 500

Quote from: dzarmush on January 24, 2014, 09:28:52 PM

Quote from: Capitan Cook on January 24, 2014, 09:19:20 PM

Quote from: EvilDave on January 24, 2014, 09:00:04 PM

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

Probably never....buy now.

Quote from: Anon136 on January 24, 2014, 09:01:55 PM

eh i would put it at a 50/50 shot that you might buy in at that level in the near future. if its going to happen than it will happen within the next month im sure.

Quote from: dzarmush on January 24, 2014, 09:05:19 PM

In 2-3 days. If it won't then never.

Thanks for replies and opinions !

Btw I also want to buy more coins but waiting for at least 0.00008.

I'm not waiting myself... I've been dumping positions all week and moving almost everything into Nxt. I have no doubt Nxt is going to be huge (so huge that it is more important to get in as soon as you are able rather than waiting and hoping for a price drop).

Nxt is the modern day Internet equivalent of Bill Gates or Steve Jobs' garage (and we're all invited)!

Exciting times... glad to be a part of it!

standards

sr. member

Activity: 560

Merit: 261

Thanks a lot for so many advices from you guys.
I have been reading all the resources. The more I read, the more I am convinced Nxt is the future.
I will probably invest 80% into Nxt, and the rest to Clones of Nxt.
Thanks again.

iruu

full member

Activity: 148

Merit: 100

Quote from: Fern on January 24, 2014, 09:08:46 PM

This guy obviously isn't impressed with NXT.

In Depth Analysis of NXT - http://cryptolife.net/in-depth-analysis-nxt/

Regarding NXT addressing. "If you were to generate an offline address and send coins to that address, you do not have explicit ownership of that address. Someone could come along with a passphrase that has a collision with yours, announce his public key to the network, and then have explicit ownership over your coins. This means that to claim ownership over an address, you are forced to expose your public key to the network. As mentioned before, doing this decreases the overall security of that address. You just can’t win. NXT is inherently less secure that Bitcoin. It is a total step backwards in that department. Also worth mentioning is that Bitcoin addresses have a 4 byte checksum that prevents you from sending to an invalid or incorrect address. NXT addresses do not."

Does anyone have an answer for this?

He's partially right about lack of security of offline addresses. 64 bits are not enough. For example, 64 bit RC5 was broken more than 10 years ago, by bruteforce, by distributed.net. Cracking offline addresses is practically possible, although the payout from this is very unlikely to be positive, you would need a ton of special asics. It's way easier and cheaper to take control of bitcoin's network than it is to crack offline nxt address. So effectively even offline nxt addresses are more secure than bitcoins. Still, it's not cryptographically secure.
He's wrong about lack of security due to publicizing public key, it's secure, no need for paranoia there. Online addresses (with public key) are secure.
He's right about lack of checksum.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: Capitan Cook on January 24, 2014, 09:19:20 PM

Quote from: EvilDave on January 24, 2014, 09:00:04 PM

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

Probably never....buy now.

Quote from: Anon136 on January 24, 2014, 09:01:55 PM

eh i would put it at a 50/50 shot that you might buy in at that level in the near future. if its going to happen than it will happen within the next month im sure.

Quote from: dzarmush on January 24, 2014, 09:05:19 PM

In 2-3 days. If it won't then never.

Thanks for replies and opinions !

Btw I also want to buy more coins but waiting for at least 0.00008.

Capitan Cook

newbie

Activity: 53

Merit: 0

Quote from: EvilDave on January 24, 2014, 09:00:04 PM

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

Probably never....buy now.

Quote from: Anon136 on January 24, 2014, 09:01:55 PM

eh i would put it at a 50/50 shot that you might buy in at that level in the near future. if its going to happen than it will happen within the next month im sure.

Quote from: dzarmush on January 24, 2014, 09:05:19 PM

In 2-3 days. If it won't then never.

Thanks for replies and opinions !

gs02xzz

full member

Activity: 221

Merit: 100

Quote from: PeercoinEnthusiast on January 24, 2014, 08:19:04 PM

Quote from: gs02xzz on January 24, 2014, 08:15:00 PM

Quote from: PeercoinEnthusiast on January 24, 2014, 07:24:26 PM

I introduced the guys at Zipzap to Nikel... I just received an email they want to meet during the conference. Any idea how big that would be?

Thanks guys! Great work! Did you guys have the chance to participate the debate?

Lol we are still fighting airports.

Sorry to hear that my friend and good luck for this weekend in Miami! We all appreciate your efforts.

Fern

sr. member

Activity: 247

Merit: 250

This guy obviously isn't impressed with NXT.

In Depth Analysis of NXT - http://cryptolife.net/in-depth-analysis-nxt/

Regarding NXT addressing. "If you were to generate an offline address and send coins to that address, you do not have explicit ownership of that address. Someone could come along with a passphrase that has a collision with yours, announce his public key to the network, and then have explicit ownership over your coins. This means that to claim ownership over an address, you are forced to expose your public key to the network. As mentioned before, doing this decreases the overall security of that address. You just can’t win. NXT is inherently less secure that Bitcoin. It is a total step backwards in that department. Also worth mentioning is that Bitcoin addresses have a 4 byte checksum that prevents you from sending to an invalid or incorrect address. NXT addresses do not."

Does anyone have an answer for this?

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

In 2-3 days. If it won't then never.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

eh i would put it at a 50/50 shot that you might buy in at that level in the near future. if its going to happen than it will happen within the next month im sure.

EvilDave

hero member

Activity: 854

Merit: 1001

Quote from: Capitan Cook on January 24, 2014, 08:54:21 PM

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

Probably never....buy now.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: standards on January 24, 2014, 08:33:06 PM

PS: This community is definitely awesome. Wish it is not too late to join.

That's like looking at bitcoin when the price was 1 dollar and going OMG im too late, look at all of these people who bought for pennies. I have to pay LITERALLY 100 times as much as they did. Tongue

Keep your chin up brother. you are SUPER early to this game. We aren't even on vircurex, btc-e, or cryptsy yet.

Capitan Cook

newbie

Activity: 53

Merit: 0

Nobody reply to me.
When the price of nxt drops 0,00005 btc?

apenzl

sr. member

Activity: 396

Merit: 250

Quote from: standards on January 24, 2014, 08:33:06 PM

My friend told me I should register and take part in Nxt community.
It shocked me when I saw this long thread (maybe the longest one?).
I guess it will take me days to see it through.
Maybe I should find some easy to follow source, advice?

PS: This community is definitely awesome. Wish it is not too late to join.

Hey it's never too late. Welcome!

Get Damelons daily summaries at his blog : http://www.nxtcoins.nl/50-2/

He started 13/1, so that leaves you only about 1000 pages to go through here. Grin

Topic: NXT :: descendant of Bitcoin - Updated Information - page 1372. (Read 2761645 times)