Topic: NXT :: descendant of Bitcoin - Updated Information - page 449. (Read 2761645 times)

I've got a lot of catching up to do in this thread, also.  For now, I will say a few things off the top of my head.  

First, we have got to pay more attention to NXT as a 1st generation coin, and call it a coin, without "quotation marks" or apologies.  We need vendors to accept it and people to want it.  NXT cannot be mined and the ability to forge it requires one to buy it on an exchange first.  We have to give people a reason to buy NXT.  That reason cannot be as a stake to forge more NXT because without exception newcomers are dramatically disappointed when they figure out the true numbers that underlie NXT forging. Doge has a fun factor.  NXT has zero fun factor.  It is a frustrating experience all the way thru - getting a client set up and running, dealing with a super long password or losing all your NXT if you don't, realizing you're not going to make anything of true value by forging with small stake quantities, asking yourself what can you do with this coin you just bought....  Repeat:  NXT is frustrating, Doge is fun.  WE MUST LEARN FROM DOGE AND BE FUN.

Second, we have got to identify just what is 2nd generation about this coin that we really truly are going to support.  Mixing/Zerocash anonymity?  Peer to peer AE?  Multisig gateways to other coins?  Transparent forging TF to get high transaction speed?  Multiple blockchains?  Pruning the main blockchain?  BCNext's latest out-of-left-field proposal for instant transactions based on some kind of multiple account?  Jesus, even the guy with the secret plan is proposing new ideas before completely revealing his old ideas.  This gives me a headache and a stomach ache at the same time.  

TF and 1000TPS is what sold me on this coin and is the ONLY feature we have that is above and beyond all Bitcoin clones and even Etherium on the horizon.  I get that 1000TPS would take dev work, but I thought TF was a done deal.  Now it's not?

Third, we have got to pull together as a team and FOCUS.  FOCUS.  FOCUS.  Maybe the funding committees are the start of this.  I hope so.   I would go so far to say that there needs to be yet another committee election, for a leadership committee, one with no money or unspent NXT behind it at all, just the raw power to say "NXT IS GOING TO DO THIS."  and whose members then can stand up on a stage, virtual or real, in front of people and tell them that NXT is on a course to SOMEWHERE.

Maybe I'm just in dictator withdrawal from pushing the election over the goal line.   Maybe sleep will help.  G'nite.

 

By the way, Curve25519 only offers 128-bit security, so choosing a password stronger than 128-bit doesn't really do anything. If the attacker can break 128-bit password, he might just as well break Curve25519

That could work. Kinda sounds like X-G when coupled with the ten.

what about a 30 character memorizable brain wallet with some randomness and weirdness thrown in?

Example:

this sentence i am using for an example of a kickass password

thiSsentenceIaMusingforAnexampleOfaKickAsspAssword

thiSsent44enceIaMusingforAnexa-))mpleOfaKickAsspAssword!

How secure is something like the above?

In fact you could tie in a picture of a little horse (a "gee-gee") and you've got a "meme coin" as well!

What out DOGE - a little horse is going to trot all over you.

Okay, I'll admit it...  I'm confused.

Why is there a big push to steer away from some of the original goals for Transparent Forging, Instant Transactions, and Leasing Forge Power?

What other risks or drawbacks might I be missing?

That could work. Kinda sounds like X-G when coupled with the ten.

I'd pronounce NXG "next-gee" - 'that hotdog will be 10 next-gee'

If your password is random 128-bit (around 22 characters with A-Z, a-z and --0-9 characters), it can't be brute forced, not in 2 years, not in 2 billion years

I'd just like to make a statement about the "initial distribution problem" if I may.

The initial stakeholders don't owe anyone here a goddamn thing. They took the huge risk by buying in early while everyone else called NXT a scam coin. They are under NO obligation to re-distribute the wealth to all those, including me, who missed out because of cynicism or ignorance or whatever. If NXT becomes a huge success, they and they alone deserve to be hugely rewarded for taking that risk. they have every right as free citizens of planet earth to do damn well whatever they please with their windfall.

That being said, if these stakeholders hope to see their investment mature to the point where they'll be able to perhaps buy a trip on Branson's Spaceship one day, they should invest in the future health of NXT in whatever way they see fit based on their own rational self interest.

There's no shortage of affordable NXT on the market. If you want some it's ripe for the picking on an exchange at mere pennies apiece. It's not too late to possibly book your own seat on a future Virgin voyage by simply not making the same mistake twice, taking a risk and buying some NXT. Then and only then will it will be your turn to decide how to invest your hard won investment in a way that you feel will make NXT grow even more.

I'm not a libertarian personally, but I really can't think of anything more free market than the way NXT has unfolded. I have no problem with the original folks being HUGELY rewarded because if they do then I'll be doing pretty good myself. It surprises me to see so many people in this community asking for socialism and redistribution of the wealth.

Regarding the NXG idea, I have to think on that before commenting. I do have one small critique which is that I can't imagine anyone being able to pronounce NXG. "That hotdog will be 10 NXG please." I just can't imagine it.

If your password is halfway decent maybe it takes them a couple of years to break it

I would like to offer up a suggestion as to how the Nxt project could move forward in a way that can please both those wanting high performance and those wanting forging on low-grade hardware whilst at the same time solving the initial distribution *problem*.

The suggestion is NXG (Nxt Green or Nxt Gen if you prefer) which would be a separate currency to NXT but still based on NxtCore. It would use a different blockchain to NXT and also a different port for its comms. When AT is implemented a use case would be added for atomic cross-chain transfers between NXT and NXG.

In order to obtain NXG an "exit account" would be created (in much the same way that Mastercoin did) and all funds sent to that account would be used to pay for the development of NXG. The distribution of NXG would be up to its supporters to work out but presumably it would be such that those who have been so far unhappy with the distribution of NXT will be happier.

I would suggest the fees for NXG would be kept much higher than those for NXT making it appealing to those with low-grade hardware to forge (assuming NXG is going to still push the forging angle).

If the community decided to go down this path then I think TF *as originally planned* (i.e. with the "penalty") should proceed for the NXT blockchain and the major focus for the NXT blockchain would be to lower fees and achieve extremely high TPM figures that will appeal to "big business".

I would like to offer up a suggestion as to how the Nxt project could move forward in a way that can please both those wanting high performance and those wanting forging on low-grade hardware whilst at the same time solving the initial distribution *problem*.

The suggestion is NXG (Nxt Green or Nxt Gen if you prefer) which would be a separate currency to NXT but still based on NxtCore. It would use a different blockchain to NXT and also a different port for its comms. When AT is implemented a use case would be added for atomic cross-chain transfers between NXT and NXG.

In order to obtain NXG an "exit account" would be created (in much the same way that Mastercoin did) and all funds sent to that account would be used to pay for the development of NXG. The distribution of NXG would be up to its supporters to work out but presumably it would be such that those who have been so far unhappy with the distribution of NXT will be happier.

I would suggest the fees for NXG would be kept much higher than those for NXT making it appealing to those with low-grade hardware to forge (assuming NXG is going to still push the forging angle).

If the community decided to go down this path then I think TF *as originally planned* (i.e. with the "penalty") should proceed for the NXT blockchain and the major focus for the NXT blockchain would be to lower fees and achieve extremely high TPM figures that will appeal to "big business".

You're the guy who tried to discredit JustaBit and Nifty. Whatever you say is worthless if that's the case.

I would like to offer up a suggestion as to how the Nxt project could move forward in a way that can please both those wanting high performance and those wanting forging on low-grade hardware whilst at the same time solving the initial distribution *problem*.

The suggestion is NXG (Nxt Green or Nxt Gen if you prefer) which would be a separate currency to NXT but still based on NxtCore. It would use a different blockchain to NXT and also a different port for its comms. When AT is implemented a use case would be added for atomic cross-chain transfers between NXT and NXG.

In order to obtain NXG an "exit account" would be created (in much the same way that Mastercoin did) and all funds sent to that account would be used to pay for the development of NXG. The distribution of NXG would be up to its supporters to work out but presumably it would be such that those who have been so far unhappy with the distribution of NXT will be happier.

I would suggest the fees for NXG would be kept much higher than those for NXT making it appealing to those with low-grade hardware to forge (assuming NXG is going to still push the forging angle).

If the community decided to go down this path then I think TF *as originally planned* (i.e. with the "penalty") should proceed for the NXT blockchain and the major focus for the NXT blockchain would be to lower fees and achieve extremely high TPM figures that will appeal to "big business".

I think NXT's focus should be on completing TF to increase the transaction speed, P2P AE and multiple blockchains.

I think NXT's best chance of achieving fast transactions is to offload them onto a parallel blockchain which is secured selectively by large stakeholders using high end hardware.