Topic: NXT :: descendant of Bitcoin - Updated Information - page 1965. (Read 2761645 times)

No.  If it is a dual colored coin scheme, attempts to unlock the account for withdrawals are publically seen on the blockchain and can be monitored and throw up warnings that an account is under attack.  If somebody hits the powerball jackpot and gets into an account through a miskey of another password, that is a one-time private event that is all over in under a minute and nobody even realizes it has happened until the next time they open their account or check it on the block chain.

I understand the math on how unlikely it is that a miskeyed password could open the fattest wallet by accident.  This isn't about math.  It's about public psychology.  Saying as a programmer it isn't necessary ignores the popularity of Powerball in the public mind and the psychology bias it introduces against brain wallets.

can someone asnwer why sometimes ann account forges 2 consecutive blocks??  This happens more frequently that I would think it should

it will not have widespread adoption.

then it will not have widespread adoption.

attempts to unlock the account for withdrawals are publically seen on the blockchain and can be monitored

Exactly. Just transferred everything back to Dgex. Forging is done for me. If I can be hacked because of some security hole that Nxt cannot plug (key-loggers, for instance) than, though it's not Nxt's fault, it will hurt adoption and participation. I'm done participating. Just going to sit on the remaining investment and cash out when it reaches a decent price. But I won't be using this system.

Going to be sick now. Or punch someone.

Hey, what if they will hack Dgex? Or founder of Dgex will disappear in the dust?

Just transferred everything back to Dgex. Forging is done for me. If I can be hacked because of some security hole that Nxt cannot plug (key-loggers, for instance) than, though it's not Nxt's fault, it will hurt adoption and participation.

This kills NxT if people can't forge in a secure way. If no-one wants to forge because system is not secure enough (like having cold wallets) this is wtf.

And I am telling you, for NXT to succeed with the public, irrational psychological issues are going to have to be addressed.

This kills NxT if people can't forge in a secure way. If no-one wants to forge because system is not secure enough (like having cold wallets) this is wtf.

You still need a pass at some point to make an announcement like "I want to spend this money again" right ? you would still need to enter this pass into the network right ? It is essentially the same thing as current implementation.

This is big conflict between general idea of cryptocurrencies and Joe Average's mind.
While cryptos are simple they aren't fit to the mind of average user of real-life monetary system.

It's a nightmare I have often.  

I am terrified of keystroke loggers.  The more widespread NXT becomes, the more keystroke loggers are going to be deployed to steal it.  That's a fact.

I am only running my main NXT account on an old XP laptop that I sanitized by doing a zero bit overwrite of the hard drive and reinstalling the OS from a Dell reinstall disk followed by the minimal add-ons like Java etc being brought over on a CD instead of via online downloads.   This laptop is now used for NXT and that's it.  I'm working on creating a second identical sanitized laptop as a backup.  I have a hidden and uncommented local handwritten copy of my random password generated offline on the laptop using Awesome Password Generator 1.4 from Google (you know, the guys that are secretly partnered with the NSA) and another handwritten copy in my bank vault safe deposit box.  

I still worry.

I understand that the user space is unimaginably huge at something like (I think I remember seeing) 10^70 - but still.  One lucky hit by somebody else miskeying their own password under the current scheme, and it's all over for you.  That's a fact, too, mitigated only by just how much luck the thief would need to have.  I've got a degree in math and I understand probability and it still doesn't do much to calm the reptilian fear in my brain.

Is there a separate white paper PDF someplace that goes over in detail from scratch / first principles the entire NXT security scheme and just the security scheme?  If not, there needs to be.  We are going to have to point specifically to that information over and over and over as more and more people come to risk larger and larger sums that the security scheme is adequate - particularly when single colored coins are made that could be worth millions of regular NXT.

So, bottom line, I think we need a security whitepaper PDF and a link to it.

That's basically what I did. Create an account with very strong pass (even a 160 bit pass is enough). Name it saving and transfer all your fund there. Never put the password online again.
Nothing can break this account unless they can break down the whole NXT network.

I doubt any of these report is actually true since when they are all silent when further proofs and information are requested. Remember that any hostile entity would have an incentive to slur NXT's security. Surely we want to improve user's experience so it would be good to brainstorm but the conception that current implementation is of poor security needs to be disapproved.