NXT :: descendant of Bitcoin - Updated Information

[pandaisftw]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC. 
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale. 

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

[pinarello]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

creating more eMunie is in the code, but how that code looks like nobody knows.

50% goes straight away to hatchers

https://asktom.cf/index.php?topic=404431.msg4431243#msg4431243

Pin

[demols]

I need a little advice: How can we calculate a daily cost of Nxt web?

Something like:
number of peers x watts of the average computer? and transfer kW in Dollars?

Do we know a number of forging computers?

I do a simple calculation for you as following:

Say 10, 000 nodes in the network for Nxt, as you know there are about 10,000 accounts.

Say each node is a Pi, say each pi consumes 10Watts, so total 100kW, it's 2400 kWh, which is just $600 a day with $0.25 per kWh.

Say each node is a server with 500 Watts, that's 50 times of the above calculation, so it is about $30,000 a day.

So I predict a total power consumption is in the range of $600 ~ $30,000 a day, and most probably below $10000.

Wow, that's the most efficient system in the crypto currency world.


Edit: go on a simple calculation of the price for Nxt. Presently a day's tx fee is ~ 5000 Nxt, if it should cover the power consumption, that is, $600/5000 ~ $30,000/5000, so the Nxt price in the range $0.12 ~ $6.

Yeah, my pricing for Nxt is $0.12 ~ $6.

But there are 300 nodes, not 10k:

http://peerexplorer.com/

donate(1), 22k(3), 22k.io(66), BEER(1), CentOS(2), FreeBSD(1), linux(6), NCC-1701-D(1), NCC-1864(1), nxt.now.im(12), nxt86(2), PC(121), PC BaiMang...(2), PC-2212(1), Raspberry(1), RaspNXT(1), Rpi(1), RPi Solari...(1), SPARC(1), strawberry(1), Unknown(43), VPS(17), xrp.pw/nxt(1):

(4+66+1+1+12+2+43+17+1)x20W = 3kW
+
(2+6+1+1+121+2+1+1+1+1+1+1+1)x5W = 0.7kW

= 4kW

24(hours)x4(kW)x0.15/kWh = 14 USD

A Raspberry Pi only uses 2W at most:  400ma @ 5V.  This has to come from a power supply that has some conversion efficiency of 50-80% or so.  Let's be conservative and say we're using a 50% efficient wall plug transformer.  Then each Raspberry is using 4W of wall power to generate the 2W it actually needs to run.  Say electricity is $0.15 per kWh.  Then in a year of 365*24 = 8760 hours, a single Raspberry Pi is going to use 8760 * 4 = 35,040 watt-hours or 35 kWh per year costing 35 * 0.15 = $5.25 of electricity per year.  

Thus the power to run a Pi is thus real but pretty negligible in the overall cost picture.  You can run 25 Pis nonstop for a solid year for the same amount of juice required to leave a 100W incandescent bulb on day and night for a year.

As a reasonable estimate, a single Pi costs around $120 as capital outlay to set it up for a year of service as an NXT node:  $35 for the Pi itself; $30 more for the memory card, cables, cluster support gear, etc; $ 5 for a year's worth of power; and say $50 per year (around $2 / mo) to park it in a server farm.  A network of 300 Pis thus costs $36,00 to set up and run for a year (of which $15,000 per year or $1250 per month is "office rental" and "human tech support" and "internet bandwidth").  

If there are truly 5000 NXT per day generated in transaction fees as assumed above, that's 365*5000 = 1,825,000 NXT per year.  If you are using 300 Pis at $36,000 per year to capture ALL those transaction fees, you are spending $36,000 / 1,825,000 NXT = $0.02 per NXT or around 2 pennies per NXT to capture the NXT using Raspberry Pis.  At 0.00005 BTC/NXT and $800/BCT, a NXT is currently worth $0.04 cents.  

Rough ballpark estimate: Capturing NXT with Raspberry Pis could double your money in a year at current NXT prices.  The Raspberry cost is fixed; the ROI gets better and better the higher and higher NXT goes.

http://coen.boisestate.edu/ece/files/2013/05/Creating.a.Raspberry.Pi-Based.Beowulf.Cluster_v2.pdf

I seem to recall that people are setting up VPSs for around $20 per month or $240 per year, which is double the cost of setting up a Raspberry Pi for a year as outlined above.  Thus while NXT is at its current $0.04 each, capturing NXT with VPSs is a break-even proposition.

These are actually great numbers.  The return-on-investment or ROI for forging NXT is positive NOW and will be even more profitable when NXT coins become more valuable.  Thus even with NXT as a Proof-of-Stake coin without mining, there is STILL financial motivation for people to run the nodes required to keep the NXT system going.  For a pre-mined coin, that is a remarkable statement.

Oh and the daily cost of the NXT support web running on 300 Raspberry Pi nodes is $36,000 / 365 = $98.63 per day.  Do it on 300 VPSs instead, and the daily NXT support web cost is around $200 per day.

There should be a marketing video whit an instruction video with the things you need to buy and what the return on investment is . Or change the giveaway or faucet and only do a giveaway to people who run nxt on rasberry pi or odroid . Motivate new nxters to run nxt !

[swartzfeger]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

I'm with you, Anon. I signed up, cautiously excited, read as much as possible... and found very little in the way of concrete technical info. How many max coins in circulation, etc. A lot of unknowns here. At 10¢, I'm still undecided if I want to take away what little money I have from my NXT budget.

[Visin]

anyone know where i can find some technical details about the operation of emunie? I need to figure out by the end of the month whether to drop some capital into this thing but its hard to find specs. i read somewhere that the money supply is elastic so thats concerning but i also read somewhere else that node operators are the ones who receive the new money and having emunie is what allows you to operate a node.

I'm with you, Anon. I signed up, cautiously excited, read as much as possible... and found very little in the way of concrete technical info. How many max coins in circulation, etc. A lot of unknowns here. At 10¢, I'm still undecided if I want to take away what little money I have from my NXT budget.

technical documents are still yet to be written (mainly due to code being changed all the time, so somethings aren't 100% concrete yet)

As far as investing, please do not invest if you can't afford to lose it. We do not, and will never claim to have MASSIVE ROI's like altcoins, we are to be used long term not short term ROI boosts. Please keep that in mind if you decide to invest. We have a backlog of investments as it is, so no harm in not investing.

[swartzfeger]

There should be a marketing video whit an instruction video with the things you need to buy and what the return on investment is . Or change the giveaway or faucet and only do a giveaway to people who run nxt on rasberry pi or odroid . Motivate new nxters to run nxt !

This is what I don't understand and hope you can explain -- what are the benefits (ROI-wise) from running a RasPi?

I'm already running my client on my MBP. What benefit do I gain from running an additional RasPi? Sure, there's some minuscule goodwill going on in helping the network. But it won't help my forging at all.

Why should I drop $100 on a Pi and not just buy another 2000 NXT?

If there's a tangible upside, I'll be adding a Pi every week (actually, probably something beefier like an odroid, but that's for another thread).

[subSTRATA]

http://download.nxtcrypto.org/nxt-client-0.5.5.zip.sha256.txt.asc

SHA1

aa20fb32fe7e6cda7debee59928d5aea8ff7c581c58a56ff68e8252eaf9368c7  nxt-client-0.5.5.zip

It is actualy SHA-256 hash, not SHA-1.

[bitcoinpaul]

Does anyone know why https://nextcoin.org/index.php/topic,2750.msg27177.html was deleted?

Edit:

The OP of that thread:

"Hello I am CMC.  
Disclaimer:  Please do not be prudent.  I am offering genuine information and this is not a troll or a scam attempt.  This is the real deal.  I can offer a sample of information within private messaging and further information which can incriminate and destroy your main upcoming competitor.


I might be a forum newbie but I have had a NxT wallet since December and it was the first altcoin I made an investment in.



I have been running a private investigation on your main competitior.  I don't refer to Bitcoin but an upcoming second generation coin.  I don't mean an obscure coin.  This is a coin with several thousand followers and is projected to have a quarter million to a half million in presales.   This coin has been hyped for almost a whole year and it is often regarded as a "NxT killer" and some think it will kill Bitcoin.  With the information I possess - you can kill this coin during its' presale.  

I cannot name the coin out here on the open forum here as you may not want the information to be traced to this website.

How you plan to use this information I provide is up to you.  I could be hired to do myself but I don't have a great reputation on Bitcointalk (I am a newbie).

No one else has this information.  I am the only one who has compiled this information and if it got out then it would have explosive consequences for your competitor.

Message me for the name of the coin and ask about my sample information (includes photos and HTTPs)


I am looking for a bounty of 250,000 NxT or the equivalent in NxT of $10,000.  I am willing to sign a lockup agreement (promise not to sell) in return for receiving those NxT.  I think NxT has the means to rival or surpass Bitcoin so there is no incentive for me to sell or dump."

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

He should get this amount of NXT after he has told JL / CfB about it. They are pretty reliable with bounties.

[Come-from-Beyond]

Sounds like a scam. Even if this were true, why would we, the NXT community, need this information? If whatever "information" this guy has is enough to completely kill whatever coin he is talking about, it's safe to assume that later on someone else will expose this "deadly" flaw.

I don't care if it's scam or not. I do care that someone censors threads on nextcoin.org.

[subSTRATA]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

[Damelon]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

That's wesley's faucet.

Just looked at the blockchain and I see what you mean.
He just added the email system yesterday, but it doesn't seem to be bot proof

[Passion_ltc]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

[Damelon]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6973288302950136231&offset=1&filter=1

Every 3-4 minutes Nxt is being given out.

[Passion_ltc]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6973288302950136231&offset=1&filter=1

Every 3-4 minutes Nxt is being given out.

Yes, and? All Nxt given out is to different addresses. I just saw 1 case in the last 20 giveaways, where the guy transferred the 3 NXT to another account.

This is adoption. Every 3 minutes are only 480 ppl per day.

[instacalm]

Page 888, looking nice.

[EmoneyRu]

My poll organization idea.

[landomata]

 

Page 888, looking nice.

 

[Damelon]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6973288302950136231&offset=1&filter=1

Every 3-4 minutes Nxt is being given out.

Yes, and? All Nxt given out is to different addresses. I just saw 1 case in the last 20 giveaways, where the guy transferred the 3 NXT to another account.

This is adoption. Every 3 minutes are only 480 ppl per day.

It's the regularity of the handouts that makes it suspicious.
You'd expect a less regular pattern.
When the faucet gives out the coins in a rather regular fashion you can bet that it's probably not normal activity but an automated process.
Unless of course he put in an automated process himself that is basically just going through a list of people who signed up.
We'll see. I'm glad someone pointed it out, so that if there ís something wrong, it's caught.

[wesleyh]

Who is the owner of http://nxtra.org/faucet ? Someone please tell the guy there is (are) (BOT) drainer(s) getting thousands of NXT
out of faucet every damn day! Just check transacations in NXT wallet real time, it is hillarious. Occassional alias registrations, some
legit coin transfers and mostly faucet drains. How about limiting faucet to one request per few minutes? Yes, make people fight for
spot in queue. Make a "patience and click fast" game out of the whole deal.

wesley is the owner. Please give a few examples of what you mentioned.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=6973288302950136231&offset=1&filter=1

Every 3-4 minutes Nxt is being given out.

Yes, and? All Nxt given out is to different addresses. I just saw 1 case in the last 20 giveaways, where the guy transferred the 3 NXT to another account.

This is adoption. Every 3 minutes are only 480 ppl per day.

It's the regularity of the handouts that makes it suspicious.
You'd expect a less regular pattern.
When the faucet gives out the coins in a rather regular fashion you can bet that it's probably not normal activity but an automated process.
Unless of course he put in an automated process himself that is basically just going through a list of people who signed up.
We'll see. I'm glad someone pointed it out, so that if there ís something wrong, it's caught.

Coins are sent out every 2 minutes, that's why it's mostly on even minutes.

Now there have been issues with people trying to game the system, I have now added email verification to combat this. People will have to click a link in their email to complete verification and receive their coins.

If gaming continues I may perhaps be forced to lower the amount given to just 1 coin, as this is useless for anyone trying to amass them (due to the fee to transfer the coins).

[salsacz]

symbol is finally changed on coinmarket!

http://coinmarketcap.com/

thx bitcoinpaul I think

Pin

From a sales/marketing perspective... I think that calling Nextcoin by "Nxt" instead of "Nextcoin" is a huge mistake.

Nothing kills adoption faster then "confusion".  Calling something "Nxt" is confusing as hell.  I know u commented on my video once n asked me to use the term Nxt instead of Nextcoin n it took several weeks before I realized what you were even talking about.

I think we should have stuck with the term "Nextcoin".

Instead of relying on fancy names to promote Nextcoin, we should be focused on making solid features on Nxt and make it as user friendly and easy to understand as possible.

This is one area that is still lacking in the crypto market despite the fact that we have dozens of different currencies.

people who are already in the crypto currency market can figure out and understand what "Nxt" is… But people new to the crypto currency market will have no clue (unless they do extensive research) to even know that Nxt is a crypto currency.

Confusion is not good for public adoption...

Nextcoin would be just as confusing, because Nxt isn't a coin, or rather not just a coin. The "coin" is part of the larger system.

I clearly understand that nxt is not a coin.  What do you think people will find when they search for "what is nextcoin?" vs. "what is nxt?" on google?

Right now, the only people that know nxt is a crypto are people on these forums... in order to get massive adoption it's important that the non technie public can "instantly" recognized the term we use. 

Do you think people will understand "nextcoin" easier or just using the words "next"?

I understand we want to differentiate ourselves from btc to show that we are unique n different.  We can do that by making nxt easier to "use"  rather then using a fancy name that does nothing but causes confusion.

I've known and invested in btc n cryptos for a yr now n still did not know what "next" was when I heard n saw it for the first time... however, i instantly knew what the term "nextcoin" meant the first time i heard it.

Imagine how a new public user would think when they first hear the term "next".  don't put urself in ur shoes. put yourself in the shoes of a new non techie user.

I don't care about million users of Bitcoins. I care about 400 Million people who did not use Bitcoin or any other coin, but they will use Nxt.


But maybe:

if apple is an organization who created an iPhone,

we can be Nxt who created Nextcoin and many other things...