NXT :: descendant of Bitcoin - Updated Information

[BrianNowhere]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

LOL. I'm gonna HODL some Nxt and then use it to FOGRE.

I don't get why anyone thinks the word 'forge' is going to confuse anyone. Words can have more than one meaning. No one is getting confused by the word 'mine' and thinking that this means all the coins belong to them. People will adapt to whatever you tell them it means.

[allwelder]

I have donated 2,100,000NXT to entities you will learn about in the following 3 weeks!

great.
one tenth of total BTC.
like the number of 21.

[ShawnLeary]

Thats my grandpa!  But if all 1 billion nxt are distributed and there is no more, can you explain me something about forging NXT?

Because what I understood is that you can forge NXT, doing this, you will earn more NXT, but if there are only 1 billion nxt and no more and all of this are already distributed, this means with forging, there will become more NXT, right?

Not quite.

When you send Nxt to someone, or create an alias, or an arbitrary message, or issue an asset exchange transaction, you must pay a FEE (currently 1Nxt).

Those fees are collected when transactions are put into blocks, and all the fees from a block are given to the account that forges the block.  New tokens are NOT created -- they are "redistributed" from fees.

Bitcoin actually does the same thing: there are small fees for all transactions.  Once 2140 arrives and no new Bitcoins are being mined, the only way to "earn" Bitcoins from mining will be from collecting fees. 

Think it's 2040

[hardalisas]

Some progress in China:
With more and more promotion ,more people are attracted by active community , tech  and Philosophy of Nxt.
And my weibo also attract some famous pp,such as BobbyLee,who is the president of BtcChina.

We also invite a famous enthusiast of BTC who now greatly admire Nxt to our Chinese Nxt community for discussion with a special column.

Next we will continue to attract more people to focus on Nxt and application.

Let's continue to promote Nxt forward to all over China and world.

Tks.

Thanks for your effort.
Hope Nxt price in Bter will pick up soon

[SZZT]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

LOL. I'm gonna HODL some Nxt and then use it to FOGRE.

I don't get why anyone thinks the word 'forge' is going to confuse anyone. Words can have more than one meaning. No one is getting confused by the word 'mine' and thinking that this means all the coins belong to them. People will adapt to whatever you tell them it means.

[N[e]wBie]

what kind of returns are to be expected from forging NXT?

[BrianNowhere]

Is there a way for the network to verify if someone is contributing by forging?
If so, why not make it so that people who do forge pay a lower transaction fee than those who do not?

I personally forge as a 'civic duty' to promote the network, but it remains to be seen whether relying on altruists to support the network will be enough to make TF work. The hardcore users will run nodes to be good citizens. For most average people there's going to need to be some kind of incentive to forge or at least a disincentive not to.

If the hard-core users are enough to run the network then great. If not, then something needs to be come up with. This issue concerns me.

[yesuper]

I have donated 2,100,000NXT to entities you will learn about in the following 3 weeks!

great.
one tenth of total BTC.
like the number of 21.

that's coool! what must i do to get 1000's ?

[TwinWinNerD]

Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.

Ayn Rand

[NxtChoice]

It would be nice if there was a multisend feature in the client. If I could line up all the addresses of hard working nxt'ers and one-click send a given amount, say 1000nxt (as in each would get 1000) I'd be very inclined to give more regular donations in just this way. Sitting at the computer and putting in 50 or how ever many transactions is a PITA.

If you're using GNU/Linux you can use this:

Code:

#!/bin/bash
# sndnxt.sh 20140223 -- send NXT to multiple addresses.
#
# Copyright 2014 The Free Software Foundation.
# Copying and distribution of this file, with or without 
# modification, are permitted in any medium without royalty 
# provided the copyright notice and this notice are preserved.  
# This file is offered as-is, without any warranty.
#
if [ $# -ne 3 ]; then
  echo "Usage: ${0##*/} 'passphrase' amount file_of_addresses"
  exit 1
fi
passphrase="$(perl -MURI::Escape -e 'print uri_escape($ARGV[0])' "$1")"; shift
amount=$1; shift
for nxtaddr in $( cat "$1" ); do
  echo "sending $amount to $nxtaddr"
  curl -s "http://localhost:7874/nxt?requestType=sendMoney&secretPhrase=$passphrase&recipient=$nxtaddr&amount=$amount&fee=1&deadline=1440" >> /dev/null 
done

exit 0

Just tested it out and it seems to work.

Thank you very much. It's very helpful for "3 More Nxt". BTW, "3 More Nxt" has sent Nxt to about 200 Nxters manually.

[Gaman]

if we are changing the fees from 1 NXT drastically to 0.01 NXT when transactions are few right now, isn't it a security concern since people will stop running nodes since there is little incentive to it?

[NxtChoice]

I have forged 2 blocks with ~ 11000 Nxt.

-------------------------------------------------------
Account: 17959837214177417816
Balance: 11434 nxt
Forged block: 67535
Block id: 6348297928174517821
Fee received: 1 nxt
Timestamp: 2014-02-16 05:00:44
-------------------------------------------------------
Account: 17959837214177417816
Balance: 11935 nxt
Forged block: 72934
Block id: 10049537959975462413
Fee received: 0 nxt
Timestamp: 2014-02-23 01:52:55
-------------------------------------------------------

[DrearyUrbanite]

if we are changing the fees from 1 NXT drastically to 0.01 NXT when transactions are few right now, isn't it a security concern since people will stop running nodes since there is little incentive to it?

I would continue to run a node just protect my investment and to be a good member of the NXT community even if there was no chance of increasing my NXT. I have close to 70K NXT and have been forging since the first of the year and have generated 3 blocks - each of them for 0 NXT.

[Anon136]

if we are changing the fees from 1 NXT drastically to 0.01 NXT when transactions are few right now, isn't it a security concern since people will stop running nodes since there is little incentive to it?

0.01 is too low. it would not be sufficient to mitigate spamming. people would be using the blockchain like they use twitter.

[hardalisas]

I have forged 2 blocks with ~ 11000 Nxt.

-------------------------------------------------------
Account: 17959837214177417816
Balance: 11434 nxt
Forged block: 67535
Block id: 6348297928174517821
Fee received: 1 nxt
Timestamp: 2014-02-16 05:00:44
-------------------------------------------------------
Account: 17959837214177417816
Balance: 11935 nxt
Forged block: 72934
Block id: 10049537959975462413
Fee received: 0 nxt
Timestamp: 2014-02-23 01:52:55
-------------------------------------------------------

You're so lucky, 2 blocks in a week with only 11k Nxt.

[brooklynbtc]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

LOL. I'm gonna HODL some Nxt and then use it to FOGRE.

I don't get why anyone thinks the word 'forge' is going to confuse anyone. Words can have more than one meaning. No one is getting confused by the word 'mine' and thinking that this means all the coins belong to them. People will adapt to whatever you tell them it means.

+1440

[Anon136]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

LOL. I'm gonna HODL some Nxt and then use it to FOGRE.

I don't get why anyone thinks the word 'forge' is going to confuse anyone. Words can have more than one meaning. No one is getting confused by the word 'mine' and thinking that this means all the coins belong to them. People will adapt to whatever you tell them it means.

  I thought that's what mining meant. I'm making them mine i.e. MINEing them. 

[N[e]wBie]

so you receive 1 NXT? 

[twistelaar]

so you receive 1 NXT? 

Forging NXT is not gonna bring you a lot of NXT. you Bter buy some 

[grandpa_seth]

if we are changing the fees from 1 NXT drastically to 0.01 NXT when transactions are few right now, isn't it a security concern since people will stop running nodes since there is little incentive to it?

I would continue to run a node just protect my investment and to be a good member of the NXT community even if there was no chance of increasing my NXT. I have close to 70K NXT and have been forging since the first of the year and have generated 3 blocks - each of them for 0 NXT.

This guy is the ideal Nxt citizen. Although I can hardly believe anybody is forging right now to make nxt money, the fees are more about preventing
spamming. Its a tricky balance we are faced with especially at this early stage. We anticipate a robust nxt economy where hundreds or thousands
of businesses are dependent on the nxt network with our 1000 tps. When that day comes fees will not need to be so high yet forging will still be
profitable due to the constant influx of transactions. However at this point its like a ghost town in comparison so 1 nxt fee is still necessary.

That is why right now it is very important for everyone to support nxt not to get fees but to keep the network alive and well until that day comes.
I think I will cry when that day comes. No, not because all the community's hard work will have been paid off. No, not because BCNext's vision
of a new economy and less reliance on government control will be here. Not because there will be a Nxt Bible published filled with CFB's
mysterious riddles divided into chapters and Psalms. Not because of any of that. But because we will all be rich