Cryp2cash
Nikel and I met the team of Cryp2cash at the Miami Bitcoin Conference. They are looking to implement Nxt sometime after the Texas Conference.
Topic: NXT :: descendant of Bitcoin - Updated Information - page 617. (Read 2761629 times)
Whats the *real* deal with BTC paper wallets versus trying to do it with NXT?
I am pretty sure that you'll find AC will include a solution for this (that is also "quantum computer" safe).
Whats the *real* deal with BTC paper wallets versus trying to do it with NXT?
People have been saying that NXT cannot accomplish this because to have 2^256 security for a NXT account requires publishing of the NXT public key, thus being online. It seems to me that it shouldnt be too much different - to be 100% sure with a BTC paper wallet, shouldnt you boot to a live CD and generate the wallet from there? Sure, you dont have to be online to do this and there is no public key to publish, but is publishing a public key really that big of a deal, especially since it can be done by booting to a liveCD and running NRS from there?
discuss.
Quote from: https://en.bitcoin.it/wiki/Paper_wallet
Paper wallets are generally created by printing a brand new public address and private key onto paper, and then sending bitcoins from a "live" wallet to the printed wallet's public address for safekeeping.
People have been saying that NXT cannot accomplish this because to have 2^256 security for a NXT account requires publishing of the NXT public key, thus being online. It seems to me that it shouldnt be too much different - to be 100% sure with a BTC paper wallet, shouldnt you boot to a live CD and generate the wallet from there? Sure, you dont have to be online to do this and there is no public key to publish, but is publishing a public key really that big of a deal, especially since it can be done by booting to a liveCD and running NRS from there?
discuss.
Hey I have a question with transaction malleability. From the NXT Wiki:
I was reading up on the BTC malleability issue from here:
I think I understand the concept 100% but heres where I get stuck: So if an exchange should not rely on just looking for a transactionID, what is the proper method? Do they have to attempt to track sendingAccountID, receivingAccountId, and amount?
OR, am I working on old information, and is what Im describing the the Dr.Evil discovery that has been completely fixed and is not an issue with NXT any more?
Quote
Transaction malleability is an issue with Nxt, as it is with all cryptocurrencies. Do not rely on a transaction ID alone to verify transactions!
I was reading up on the BTC malleability issue from here:
Quote
On the one hand, you can argue that malleability has been a known issue since 2011 and companies should have known to be watching for the non-malleable payment details of a transaction to show up, rather than waiting for the transaction ID to show up. If you’re not doing this, your system is buggy and it’s your own fault. Or so this argument goes.
I think I understand the concept 100% but heres where I get stuck: So if an exchange should not rely on just looking for a transactionID, what is the proper method? Do they have to attempt to track sendingAccountID, receivingAccountId, and amount?
OR, am I working on old information, and is what Im describing the the Dr.Evil discovery that has been completely fixed and is not an issue with NXT any more?
Evolution...3 years doesn't seem so long.
I've been in China more than 7 years now and actually access to numerous overseas websites (even non-https) has got *slower* over that time (and I not talking about anything that would be considered "controversial" here).
Are you still in China?which city?
** Marketing **
Alright, made it under the deadline for the NXT Funding Committee Candidate Statements:
https://bitcointalksearch.org/topic/m.5417724
** Songs of Love - We Raised over $6k **
Alright, I just head back from John at Songs of Love. Be proud everyone, we raised over (drum roll) $6k for the kids!!
"... The Nxt community is the most compassionate group
that we have so far come across in the cryptocurrency world. We are eternally grateful to you John for spearheading this most amazing campaign. We will be delighted to bring Nxt in at the 5,000 sponsorship level and we will be giving you the full back page of our event program as well as top billing on our event web site at www.songsoflove.org/LA. Please provide us with the logo you would like to see displayed on our site and event program. I addition, I was so moved by your effort that I still want to come up with the Nxt theme song. I would like to work with you on the various elements you'd like included in the lyrics of the song. You can reach out to me for a discussion about this.
I will be back from LA on March 14 and can get on with creating the Nxt theme song at that time." - John Beltzer, Songs of Love
Alright, made it under the deadline for the NXT Funding Committee Candidate Statements:
https://bitcointalksearch.org/topic/m.5417724
** Songs of Love - We Raised over $6k **
Alright, I just head back from John at Songs of Love. Be proud everyone, we raised over (drum roll) $6k for the kids!!
"... The Nxt community is the most compassionate group
that we have so far come across in the cryptocurrency world. We are eternally grateful to you John for spearheading this most amazing campaign. We will be delighted to bring Nxt in at the 5,000 sponsorship level and we will be giving you the full back page of our event program as well as top billing on our event web site at www.songsoflove.org/LA. Please provide us with the logo you would like to see displayed on our site and event program. I addition, I was so moved by your effort that I still want to come up with the Nxt theme song. I would like to work with you on the various elements you'd like included in the lyrics of the song. You can reach out to me for a discussion about this.
I will be back from LA on March 14 and can get on with creating the Nxt theme song at that time." - John Beltzer, Songs of Love
NEW WWW.EDCBELTS.COM STORE ACCEPTS NXT
Hi NXT community,
I am excited to announce that my friend Mike McSorley, owner of www.edcbelts.com and www.mcsology.com is now accepting NXT for his fantastic custom hand crafted Every Day Carry Belts. Please head on over to http://www.reddit.com/r/NXT/comments/1z4p85/15_leather_edc_belts_with_austrialpin_cobra/
From the McSology post at /r/nxt;
Hi folks! I'm jumping into the nxt game and want to support the community! I've recently started selling custom leather edc belts (Every Day Carry). Similar, lower quality items are 2+ months backordered from Jones tactical, etc.... I make them to order and ship next day. I have parts for 6 belts to sell for nxt Check out my website for pics and features (it's still under construction) www.EDCbelts.com They go for 100 usd , or through this (reddit) sub for 2500 nxt! Pm me to set up a buy and communicate your size and preferred carry position! Please ask any questions about the product in comments. Thanks!
Please help drive organic adoption of NXT, and support craftsman accepting NXT. www.edcbelts.com makes and delivers only the finest and durable products available for Every Day Carry.
Are the AE tests still going on and is there any point me joining, is there much of a learning curve beyond setup of a client?
TEST HERE : http://nxtra.org/nxt-client/
create a passphrase only for your testaccount
ask here for some TESTNXT with your account number
like me :
plz send me some TESTNXT to 6770698723651913351
Is it safe to unlock account and forge on public node? Even that this node is my personal?
It's not recommended.
http://wiki.nxtcrypto.org/wiki/FAQ#Are_there_public_servers_I_can_use_for_forging.3F
Another,is it safe to send Nxt with conneting some public nodes(I dont know whether they are public or not)?
GET out of nxt fast, hughe red flags
Its over NXT is dead, if you want some money back dump right now cos when whales start to dump it will be at 0 in seconds.
reasons why to dump
community not capable to take over the project
AE not working
client posponed again and again
promissed features not developed
nobody understand the code
epic failing marketing
lot of other stuff going on get out fast
Are you going to implement this into the AE or offer it as a for profit service? It sounds like it may be a potential salable financial product.
After I get the gateway code debugged, I expect there will be three of the server guys here who will run the gateway code. My time is much better spent coming up with crazy new ideas and seeing if I can get them implemented. I shouldnt be spending my time running day to day operations of a gateway. No matter how much things are automated, we are talking real money here and there will be times where manual intervention is needed.
James
you are an animal! how do you sleep at night with all these ideas and things going through your mind?? :L i seriously hope your one of the people getting a wage?? if i had the money i would pay you out of my own pocket! you really deserve it!! respect man!
To address this, I am using 2 of 3 multisig deposit accounts. All the gateway deposits (from all three gateways) go into the same multisig acct. For all withdrawals all three gateways must approve it and at least 2 have to sign it before it gets released.
James
James
"three gateways must approve", what if one gateway is not working? what this mean? Idon'T understand the difference between approve and sign.
Are you going to implement this into the AE or offer it as a for profit service? It sounds like it may be a potential salable financial product.
After I get the gateway code debugged, I expect there will be three of the server guys here who will run the gateway code. My time is much better spent coming up with crazy new ideas and seeing if I can get them implemented. I shouldnt be spending my time running day to day operations of a gateway. No matter how much things are automated, we are talking real money here and there will be times where manual intervention is needed.
James
Agreed, I would like to see a list of projects you are working on if possible, or plan to work on after DAC. I know DAC and Nxtcash (mixing) but not sure if there is others we will be aware of. If you deliver, I can see you getting a good chunk of unclaimed. Also, would be great if you could list resources that would be needed with each project, such as servers, testers, programmers, etc. So we can be proactive. Great work so far.
Rather than go breadth first for a lot of things that in flux, I think it would be better to go depth first. Concentrate on automated multisig gateway. We get the most bang for the buck, so to speak. Simply by adding support to a new bitcoind fork, we open up an entirely new segment of people. once we get a couple dozen coins supported, we will have one of the largest crypto exchanges (centralized or decentralized)
As soon as I hand off the automated gateway, I plan on adding a NXTcash gateway. It wont have the full support of the zeronet version,but it will still be useful and we can launch it without waiting for zerocash or even porting to Java as we can run it in the gateway layer.
In the short term, I will need DOGE testers, and the community should select the three most trustworthy and independent server operators to host the multisig gateway.
After I cant find any more bugs, we need to get the gateway code thoroughly reviewed. No complicated crypto, just plain C code review.
If someone can take care of the logistics, that would let me spend more time on coding
James
To address this, I am using 2 of 3 multisig deposit accounts. All the gateway deposits (from all three gateways) go into the same multisig acct. For all withdrawals all three gateways must approve it and at least 2 have to sign it before it gets released.
James
James
"three gateways must approve", what if one gateway is not working? what this mean? Idon'T understand the difference between approve and sign.
Are you going to implement this into the AE or offer it as a for profit service? It sounds like it may be a potential salable financial product.
After I get the gateway code debugged, I expect there will be three of the server guys here who will run the gateway code. My time is much better spent coming up with crazy new ideas and seeing if I can get them implemented. I shouldnt be spending my time running day to day operations of a gateway. No matter how much things are automated, we are talking real money here and there will be times where manual intervention is needed.
James
Agreed, I would like to see a list of projects you are working on if possible, or plan to work on after DAC. I know DAC and Nxtcash (mixing) but not sure if there is others we will be aware of. If you deliver, I can see you getting a good chunk of unclaimed. Also, would be great if you could list resources that would be needed with each project, such as servers, testers, programmers, etc. So we can be proactive. Great work so far.
Are you going to implement this into the AE or offer it as a for profit service? It sounds like it may be a potential salable financial product.
After I get the gateway code debugged, I expect there will be three of the server guys here who will run the gateway code. My time is much better spent coming up with crazy new ideas and seeing if I can get them implemented. I shouldnt be spending my time running day to day operations of a gateway. No matter how much things are automated, we are talking real money here and there will be times where manual intervention is needed.
James
NXT FUNDING COMMITTEE VOTE STARTS IN 25 HOURS
AT 12:01 AM MARCH 1 (UTC)
CANDIDACY DECLARATION CLOSES ONE HOUR BEFORE VOTING STARTS.
DECLARE YOUR CANDIDACY BY 11:01 PM FEB 28 (UTC)
CANDIDACY WITHDRAWAL CLOSES IN ONE HOUR
WITHDRAW YOUR CANDIDACY BY 12:01 AM FEB 28 (UTC) OR YOU ARE GOING ON THE BALLOT
rickyjames has withdrawn from infrastructure slate to concentrate on treasury spreadsheet duties / possible non-voting de facto secretary organizational work for all committees / other NXT activities
AT 12:01 AM MARCH 1 (UTC)
CANDIDACY DECLARATION CLOSES ONE HOUR BEFORE VOTING STARTS.
DECLARE YOUR CANDIDACY BY 11:01 PM FEB 28 (UTC)
CANDIDACY WITHDRAWAL CLOSES IN ONE HOUR
WITHDRAW YOUR CANDIDACY BY 12:01 AM FEB 28 (UTC) OR YOU ARE GOING ON THE BALLOT
rickyjames has withdrawn from infrastructure slate to concentrate on treasury spreadsheet duties / possible non-voting de facto secretary organizational work for all committees / other NXT activities
Are the AE tests still going on and is there any point me joining, is there much of a learning curve beyond setup of a client?
NXT is a decentralized, free market ecosystem that incorporates its own peer to peer asset exchange. The NXT Asset Exchange is a virtual market place that allows NXT users to generate assets that can be bought, sold or traded on the open market. These NXT based assets can hold a value of their own, like a crypto currency or loan marker, or be a representation of some thing physical, that has a value, like livestock, precious metals, or what ever NXT users have the creativity and capacity to imply to the asset. The NXT Asset Exchange is also capable of accepting deposits of assets that have been generated outside of the NXT blockchain such as Bitcoin, Litecoin and other crypto currencies. These deposited assets can be bought sold or traded on the NXT Asset Exchange in a similar fashion to conventional private exchanges like Cryptsy or Bter. To compliment and facilitate this free market, NXT also provides a common, decentralized currency. The NXT Asset Exchange provides a means for NXT users to buy, sell, or trade anything. Is this accurate?
I don't exactly follow what you mean when you mention unicorn assets and managing inventory. Is that just a reference to the AE being able to accept crypto deposits for trade as well as generate assets?
For example, in the gateway I have to exchange deposited DOGE with NXT AE DOGE. Since there are 100 billion DOGE and only 1 billion NXT AE DOGE possible, that would create a problem if more than 1% of all DOGE is deposited. For a NXTcoins that are mined at a rate of 100,000 per day it is quite important that the number of NXT assets in circulation match the number that was mined.
In order to make it easy for people to deal with these type of cases, I am creating a NXTcoins development kit where you will be able to specify (within reason) the properties of the coin, especially as it pertains to total authorized, total in circulation, creation criteria, etc.
James
So then the gateway you are working on won't allow for external assets like Bitcoin to be directly deposited but will create an internal representative asset that reflects the real world characteristics of the external asset. This will allow the new internal asset be responsive to influences of those characteristics? The gateway will create a fully functional copy of the external asset but not truly accept the external asset as a deposit? Is this closer to what you mean?
The gateway allows you to send REAL DOGE ->NXT AE
You then get issued a NXT Asset for the DOGE
You can then trade this asset inside NXT AE
Anybody that gets the NXT DOGE asset will be able to withdraw it to their DOGE account
[Replace DOGE with any bitcoind fork, including bitcoin]
All NXT AE assets are simply a name with a total quantity. It has no value in and of itself, regardless of what it is called. The issuer of the asset however can create value by linking an external item to the issued asset. With tangible goods like silver bars, you will need to trust the issue to honor the redemption commitment. However with crypto it is possible to have it in a publicly viewable account, so that everybody can see that there is 1 DOGE for every DOGE asset that has been issued. However withdrawal used to have a significant amount of trust that was needed. This is because even though you can see the balance, what is to stop the gateway operator (or hacker) to empty the account. Not much comfort to see the 1:1 backing go to 0:1!
To address this, I am using 2 of 3 multisig deposit accounts. All the gateway deposits (from all three gateways) go into the same multisig acct. For all withdrawals all three gateways must approve it and at least 2 have to sign it before it gets released.
Now the trust required has been reduced dramatically. You still have to trust that 2 of the gateway operators wont collude, or that two gateways wont get hacked simultaneously.
So, it is not totally trustless, but source code will be available and people can decide if they are comfortable with utilizing the automatic multisig gateway or take their chances on a traditional centralized gateway.
James
Are you going to implement this into the AE or offer it as a for profit service? It sounds like it may be a potential salable financial product.
NXT is a decentralized, free market ecosystem that incorporates its own peer to peer asset exchange. The NXT Asset Exchange is a virtual market place that allows NXT users to generate assets that can be bought, sold or traded on the open market. These NXT based assets can hold a value of their own, like a crypto currency or loan marker, or be a representation of some thing physical, that has a value, like livestock, precious metals, or what ever NXT users have the creativity and capacity to imply to the asset. The NXT Asset Exchange is also capable of accepting deposits of assets that have been generated outside of the NXT blockchain such as Bitcoin, Litecoin and other crypto currencies. These deposited assets can be bought sold or traded on the NXT Asset Exchange in a similar fashion to conventional private exchanges like Cryptsy or Bter. To compliment and facilitate this free market, NXT also provides a common, decentralized currency. The NXT Asset Exchange provides a means for NXT users to buy, sell, or trade anything. Is this accurate?
I don't exactly follow what you mean when you mention unicorn assets and managing inventory. Is that just a reference to the AE being able to accept crypto deposits for trade as well as generate assets?
For example, in the gateway I have to exchange deposited DOGE with NXT AE DOGE. Since there are 100 billion DOGE and only 1 billion NXT AE DOGE possible, that would create a problem if more than 1% of all DOGE is deposited. For a NXTcoins that are mined at a rate of 100,000 per day it is quite important that the number of NXT assets in circulation match the number that was mined.
In order to make it easy for people to deal with these type of cases, I am creating a NXTcoins development kit where you will be able to specify (within reason) the properties of the coin, especially as it pertains to total authorized, total in circulation, creation criteria, etc.
James
So then the gateway you are working on won't allow for external assets like Bitcoin to be directly deposited but will create an internal representative asset that reflects the real world characteristics of the external asset. This will allow the new internal asset be responsive to influences of those characteristics? The gateway will create a fully functional copy of the external asset but not truly accept the external asset as a deposit? Is this closer to what you mean?
The gateway allows you to send REAL DOGE ->NXT AE
You then get issued a NXT Asset for the DOGE
You can then trade this asset inside NXT AE
Anybody that gets the NXT DOGE asset will be able to withdraw it to their DOGE account
[Replace DOGE with any bitcoind fork, including bitcoin]
All NXT AE assets are simply a name with a total quantity. It has no value in and of itself, regardless of what it is called. The issuer of the asset however can create value by linking an external item to the issued asset. With tangible goods like silver bars, you will need to trust the issue to honor the redemption commitment. However with crypto it is possible to have it in a publicly viewable account, so that everybody can see that there is 1 DOGE for every DOGE asset that has been issued. However withdrawal used to have a significant amount of trust that was needed. This is because even though you can see the balance, what is to stop the gateway operator (or hacker) to empty the account. Not much comfort to see the 1:1 backing go to 0:1!
To address this, I am using 2 of 3 multisig deposit accounts. All the gateway deposits (from all three gateways) go into the same multisig acct. For all withdrawals all three gateways must approve it and at least 2 have to sign it before it gets released.
Now the trust required has been reduced dramatically. You still have to trust that 2 of the gateway operators wont collude, or that two gateways wont get hacked simultaneously.
So, it is not totally trustless, but source code will be available and people can decide if they are comfortable with utilizing the automatic multisig gateway or take their chances on a traditional centralized gateway.
James
AE issued assets can derive a value of their own though, without being linked to anything. It is not over complicating, it is based in the fact that they are unique and available in controlled limited quantity. The same principles that make Federal Reserve notes have value can be applied to AE generated assets. If some one can implement a way to create a demand for the asset they create then it will have value. A little while ago some people were discussing Iceland using a crypto as its adopted currency. To use this topic as an example of what I mean, If the government of Iceland issued itself an AE asset, then passed legislation requiring taxes to be paid with that asset and no other form of currency, and then put a portion of the asset on the open market, the asset would derive a value. I think the AE is even more capable than people realize. It is not overly complicated. It is awesome.
As far as your gate way though, Anon136 made a reply that I think helped me understand what you mean.
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