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Topic: NXT :: descendant of Bitcoin - Updated Information - page 2128. (Read 2761645 times)

full member
Activity: 126
Merit: 100
Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

Yep, you should just buy $1000s of dollars of specialized equipment that can never be used for anything else and consumes a ton of power and mine bitcoins.

Ha ha ha.  Here's some reading material for you:

http://www.drdouggreen.com/wp-content/Propaganda.pdf
http://www.truth-out.org/news/item/1964:fourteen-propaganda-techniques-fox-news-uses-to-brainwash-americans

Comparing something bad with something worse doesn't make the original thing less bad.  

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

Me going out and buying Bitcoin ASICs as you suggest does not address the problem I identify.  Keep thinking, maybe you can come up with a better idea.

This was sort of tounge-in-cheek. One could easily create a NXT pool similar to other currencies. Everyone pools their NXT together into one account to increase what they could forage alone. Requires extreme trust in the pool operator however.
hero member
Activity: 644
Merit: 500
I know that it's very unlikely to use the same long password in 2 different addresses, but the problem is that someone could just spam different passwords and randomly hit some existing addresses.
Bruteforcing can destroy any cryptosystem. But for now it takes (for all imaginable potential attackers) too much time to be real threat. Much easier track you, hack into your computer/safe/head and steal pass instead of trying to combinate it step-by-step from zero.
member
Activity: 98
Merit: 10

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/

Well no the problem is the IP address must be used to create the hallmark. This would help for a well-known peer.
[/quote]

You can put the domain in the hallmark generation form,
and set the domain in the MyAddress parameter, no?
hero member
Activity: 600
Merit: 500
Nxt-kit developer
Hi all, I'd like share a little script that solve the unexpected quit problem:

Quote
#!/bin/sh
while true
do
        pidof java
        if [ $? -gt 0 ]; then
                echo "Restart process " >> /tmp/nxt_restart.log
                java  -Xms700m -Xmx900m -jar start.jar
        else
                sleep 5
        fi
done

you may need adjust the mem parameter accordingly

I'd like to repeat my solution with cron
full member
Activity: 126
Merit: 100
To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

I have set up a public node with 2G RAM.

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?



I am not sure with a dynamic IP address, did anyone every figure out something for this?

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/

Well no the problem is the IP address must be used to create the hallmark. This would help for a well-known peer.
legendary
Activity: 2184
Merit: 1000
Ripple is No. 2 on Coinmarketcap  Shocked
full member
Activity: 143
Merit: 100
Newcn,

The simplegateway doesnt need you to create any special account, you can use your existing wallet
It is a modal page, so if you have it set to deposit, it will ask for your ripple address, if withdraw your coin address

To everyone suffering from dgex outages, I would like to make proposal
I would like to complete development of tradiing page asap so that between now and availability of peer to peer xchange, we will have distributed wxchange using ripple network. There are more than just ripple's servers and with google as a backer, let the ddosers go up against the distributed ripple network

Maybe after end of jan, nobody will want to use our exchange, so this is a big risk for us. I think that even after peer to peer xchange is in nxt, there will still be a lot of people who will want to get some fiat, we all have to buy groceries somehow. We already have usd gateway so you can convert btc/nxt to usd

Ripple is also very popular in china and this could provide an easy path for Chinese investors

I think the next six weeks are critical and having a stable way to trade nxt is strategically important, i am hoping to get significant founder support

I want to provide nxt exchange with commissions of 0, fees of 0, deposit fee of 0, withdrawal fee of zero
We believe enough in nxt future to pay for our expenses from forging revenues.

I hope the community will see the value that a totally frictionless trading for nxt will do.

There is no such place for btc anymore, btc china used to be that way and got to $100 mil volume/day

All i need is a big enough bounty to pay for development costs and nxt will always be able to trade nxt without any fees, no withdrawal fees, automated deposit and withddrawal

James


Hi,
   thank you for your reply.
I've been exchanging CNY inside ripple,
Is your platform different from that?
for I did not see nxt-related exchange in ripple's TRADE page.
I need more instructions. you can put it in your webpage
full member
Activity: 196
Merit: 100
Is it worth to run a node with around 1000 Nxt? Will I be able to forge anything thats worth it?

Yes, u'll be earning 0.0001% of all fees.

Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

Yep, you should just buy $1000s of dollars of specialized equipment that can never be used for anything else and consumes a ton of power and mine bitcoins.

Ha ha ha.  Here's some reading material for you:

http://www.drdouggreen.com/wp-content/Propaganda.pdf
http://www.truth-out.org/news/item/1964:fourteen-propaganda-techniques-fox-news-uses-to-brainwash-americans

Comparing something bad with something worse doesn't make the original thing less bad.  

NXT nodes are needed to make NXT strong.  Those nodes are only going to be stood up by people motivated to do so.  I repeat my contention that forging does not seen to be a strong motivator for setting up NXT nodes when examined closely.  This could be a problem.   This forum exists to address to problems.

Me going out and buying Bitcoin ASICs as you suggest does not address the problem I identify.  Keep thinking, maybe you can come up with a better idea.
member
Activity: 98
Merit: 10
To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

I have set up a public node with 2G RAM.

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?



I am not sure with a dynamic IP address, did anyone every figure out something for this?

Try to set it up on a dynamic dns service, and tell us if it reliably works.

http://freedns.afraid.org/
http://www.noip.com/
full member
Activity: 126
Merit: 100
I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 




Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.




I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.




You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.



It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

It will be automatic....no need for individuals...its needs to be decentralized.....the company is publicly owned.....the person who codes this 1st get to make a cut during IPO....a reward for their hard work.




The issue is that the gateway can run out of Btc or Nxt. You can never be sure of that. Nxt and Bct are individual asetts you can't force people to send their assets to the gateway. You have to consider the possibility of the gateway going bankrupt and being delisted


the gateway runs on the network it has no profit or loss....it just collect fees and divids them based on who owns the percentages of the share say at 12 am on the 1st day of the month Shanghai time.

if no fees are collected nothing is paid out


I dont think you understand the business of running an exchange. Please read more first.

Guys, why do u quote so much text? Remember, all this will be included into the Bible 2.0, let's save some trees...

I think you mean electrons Wink Won't someone think of the electrons!
legendary
Activity: 1092
Merit: 1010
If the only thing needed to access an address is the password, what would happen if more than 1 addresses have the same password?

Can´t happen.
Can happen with extremely low probability, system'll give u warning, if I correct. Not same passphrases (1 phrase unlock 1 account), but equal hases (account id) to both phrases.

I stand corrected  Grin
full member
Activity: 126
Merit: 100
To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

I have set up a public node with 2G RAM.

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?



I am not sure with a dynamic IP address, did anyone every figure out something for this?
legendary
Activity: 2142
Merit: 1010
Newbie
I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 




Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.




I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.




You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.



It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

It will be automatic....no need for individuals...its needs to be decentralized.....the company is publicly owned.....the person who codes this 1st get to make a cut during IPO....a reward for their hard work.




The issue is that the gateway can run out of Btc or Nxt. You can never be sure of that. Nxt and Bct are individual asetts you can't force people to send their assets to the gateway. You have to consider the possibility of the gateway going bankrupt and being delisted


the gateway runs on the network it has no profit or loss....it just collect fees and divids them based on who owns the percentages of the share say at 12 am on the 1st day of the month Shanghai time.

if no fees are collected nothing is paid out


I dont think you understand the business of running an exchange. Please read more first.

Guys, why do u quote so much text? Remember, all this will be included into the Bible 2.0, let's save some trees...
newbie
Activity: 45
Merit: 0
So, you dont have the same issue, right? What version are you personally running?

0.4.8. I do have this issue time to time.

Sorry, CfB, can you add constantly link to the last or recommended version to your first post in this thread? Wikll be much easier find it inside topic in this case.
full member
Activity: 126
Merit: 100
Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

With traditional coins, mining pools allow a steady income rather than once-in-a-lifetime lottery windfall when (/if) you finally get a block. Is there to be a similar concept for someone to bother forging with only a handful of NXT?

Nothing is stopping anyone from creating a pool to do the same thing. You would have to trust the operator however and send them your NXT first.
legendary
Activity: 1372
Merit: 1000
Nice, a lot more nodes online today.  Is the Raspberry Pi thing working out?  Do we have any idea how many Raspberry Pis are currently operating as nodes?  Any issues running Nxt on them?
full member
Activity: 238
Merit: 100
To anyone running non-hallmarked nodes that would like to:

Please post here and I will seed you some NXT to make it happen.

I have set up a public node with 2G RAM.

I am at home and using home wifi connection, and my service provider can't give me static IP, so how to public and hallmarked my node?

sr. member
Activity: 378
Merit: 250
Another way of saying this is that if you run a forging node with 1000 NXT, you will earn only 1 NXT for every 1 million NXTs that are charged as fees.  Thus you will "double" your 1000 NXT initial forging stake only when THE ENTIRE AMOUNT OF AVAILABLE NXT has cycled through once not as transactions, but FEES.

Maybe it's just me, but I gotta say that forging does not seem to be a very good motivation for running a node.

With traditional coins, mining pools allow a steady income rather than once-in-a-lifetime lottery windfall when (/if) you finally get a block. Is there to be a similar concept for someone to bother forging with only a handful of NXT?
hero member
Activity: 644
Merit: 500
If the only thing needed to access an address is the password, what would happen if more than 1 addresses have the same password?

Can´t happen.
Can happen with extremely low probability, system'll give u warning, if I correct. Not many accs to same (created in mind, or stolen copies) passphrases (1 phrase unlock 1 account), but equal hashes (account id) to both phrases.
sr. member
Activity: 602
Merit: 268
Internet of Value
I think a better idea would be to IPO the service providers/gateways


for example: USD/NXT gateway could issue Nxt in IPO....people can buy a share of the company and get a monthly dividence of nxt based on there holdings.


BCNext
Member

Re: [ANN] Nxt :: descendant of Bitcoin
November 08, 2013, 07:59:19 AM
Reply with quote  #446
It is real.

Here is an example

I want to run a business.  I issue an asset (let's call it Krusty Krab tokens - KKT).  I set quantity of KKT to 1000.  I announce that I sell KKT for 20 NXT each and pay 5 NXT monthly interest within next 6 months.  I create an ask order -- 1000 KKT for 20,000 NXT.  You create a transaction that sends me 500 NXT for 25 KKT.  It's up to you what to do with your 25 KKT (you can place an ask order and sell them for 27 NXT) but each month I will check the blockchain to see who owns KKT.  And I will send 5 NXT for each KKT to those who owns them. 




Of course we want a usd/ Nxt gateway. But I fail to understand why it is so important. Soon you can sell/ buy Nxt at Btc-e, Bitstamp in both usd, bct and multiple other exchanges. They are centralized but have already worked so far and have certain trust of the communities.

What is truly innovative and disruptive about the Nxt asset exchange is to give internet start-up a direct way of raising money and growing their business in global scale.

A NXT/USD gateway in the Nxt exchange would represent something like Chase Manhattan in the real world but decentralized....it would be profitable from day one cuz all USD/NXT transactions go thru it.




I suppose you can IPO that gateway to be the first company in the asset exchange. Of course it is going to be an important company. I am just saying that the Nxt asset exchange is much bigger than just an usd/ nxt gateway. There are many more businesses that could make IPO and list in Nxt asset exchange.

I think someone should really thing right now about how to operate an usd/ nxt if you are an owner. It is not going to be easy since you have to able able to convert usd/ nxt at will for anyone who ask. It is easier and less risky to operate a btc/ nxt exchange.  Remember in nxt asset excahnge, we are dealing with real assets not the kind of pseudo- indicators as in Bitshare community envisions

I understand why BCnext has to be anonymous.

I edited my post....1st IPO should be BTC/NXT.....the reason is this gateway won't fail and it will stablize the system and give stable returns.


other IPO would be more risky....so we gotta start with less risky companies until the exchange develops further.




You have to think about how it is going to work. Just because someone says this gateway is not going to fall does not mean it is not going to fall. Nothing gives you a stable return unless you take a certain amount of risk.

It would be the only channel to exchange BTC/NXT or NXT/BTC on the Nxt Exchange....and the shares would be a new source of liquidity....another source of income parallel to mining.



It is not free market and decentralization. Everyone should be free to open an exchange if they can persuade the economy to trust them.

Secondly, your model is flawed economically. Nothing can guarantee you a certain rate of exchange between Nxt/ Btc.   

Not the rate of exchange....the BTC/Nxt Gateway charges a simple/set service fee....the total service fees collected....would then be divided at the end of the month and send to those accounts holding BTC/NXT shares/tokens.....based on the percentage of their holdings

Who controls the account holding Nxt ? who controls the account holding Btc ? Who making the transfer upon a request ? Still one individual need to step up to do that task. He can use his own btc/ nxt account or he can mobilize nxt/ bct from other to make a partnership. That's a business decision.

But other people should also be free to do the same. Who we are to impose the rule of one exchange ? isn't it monopoly ?

It will be automatic....no need for individuals...its needs to be decentralized.....the company is publicly owned.....the person who codes this 1st get to make a cut during IPO....a reward for their hard work.




The issue is that the gateway can run out of Btc or Nxt. You can never be sure of that. Nxt and Bct are individual asetts you can't force people to send their assets to the gateway. You have to consider the possibility of the gateway going bankrupt and being delisted


the gateway runs on the network it has no profit or loss....it just collect fees and divids them based on who owns the percentages of the share say at 12 am on the 1st day of the month Shanghai time.

if no fees are collected nothing is paid out


I dont think you understand the business of running an exchange. Please read more first.
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