NXT :: descendant of Bitcoin - Updated Information

[salsacz]

Calling it Nextcoin will give the impression that it has no more to offer than BitCoin, DogeCoin, CatCoin, RonPaulCoin... (etc, etc)....when in reality there is going to be way more to NXTthan simply pushing money round the interwebs.

But we can fight on many fronts at the same time. To be succesful as a Nextcoin. To become the best mobile sms app known as Nxtalk. To be known as the best decentralized exchange known as Nxtrade... Then comes the day when all these functions will be used in one app

[allwelder]

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.

you may should find the answer in emuine forum.

[bitme]

               
Isildur23 got 5k bounty from me for gathering info about current projects that need support. This is what we already have. Please correct, expand it. I'm going to post polished version in new topic

Alias	Account	project	links	notes
Jean-Luc		Nxt wallet	http://download.nxtcrypto.org/
	1981468117748016602	nxtcrypto.org	http://nxtcrypto.org	maintenance and development of this website
yan83	2499683221427574078	BTC/LTC exchange	http://www.nxt-e.com
abuelau	9060914620736248721	blockchain explorer and alerts system	http://mynxt.info	has already developed blockchain explorer and alerts system
Mac Red	4263528265010429437	development and marketing for Sweden	http://nxtcoin-swe.net	website is already up and running but needs funding for further development and promotion
Ola		poker app	https://asktom.cf/index.php?topic=345619.16960
BaiMangal	17464643409289711169	Windows NXTManager	https://asktom.cf/index.php?topic=345619.msg4418563#msg4418563	under development but needs funding
joefox	4924387977119245692	wiki NXT API	http://wiki.nxtcrypto.org/wiki/Nxt_API	formatting work to do to make inputs and outputs more reasonable
allwelder	14698193345900192135	developing chinese site and moderating chinese section in forums	http://www.nxts.org
wesleyh	8189784314684138350	PHP API library to send / receive money programmatically	http://nxtra.org/api/
marcus03	1758531264253431177	NXT Solaris - Windows client including BC Explorer	https://nextcoin.org/index.php/topic,2793.0.html https://asktom.cf/index.php?topic=345619.msg4435306#msg4435306

[utopianfuture]

               
Isildur23 got 5k bounty from me for gathering info about current projects that need support. This is what we already have. Please correct, expand it. I'm going to post polished version in new topic

Alias	Account	project	links	notes
Jean-Luc		Nxt wallet	http://download.nxtcrypto.org/
yan83		BTC/LTC exchange	http://www.nxt-e.com
abuelau	9060914620736248721	blockchain explorer and alerts system	http://mynxt.info	has already developed blockchain explorer and alerts system
Mac Red	4263528265010429437	development and marketing for Sweden	http://nxtcoin-swe.net	website is already up and running but needs funding for further development and promotion
Ola		poker app	https://asktom.cf/index.php?topic=345619.16960
BaiMangal	17464643409289711169	Windows NXTManager	https://asktom.cf/index.php?topic=345619.msg4418563#msg4418563	under development but needs funding
joefox	4924387977119245692	wiki NXT API	http://wiki.nxtcrypto.org/wiki/Nxt_API	formatting work to do to make inputs and outputs more reasonable
allwelder	14698193345900192135	developing chinese site and moderating chinese section in forums	http://www.nxts.org
wesleyh	8189784314684138350	PHP API library to send / receive money programmatically	http://nxtra.org/api/
marcus03	1758531264253431177	NXT Solaris - Windows client including BC Explorer	https://nextcoin.org/index.php/topic,2793.0.html https://asktom.cf/index.php?topic=345619.msg4435306#msg4435306

I think we need to open some threads based on functionality instead of another thread when everything stays in the same place which  is the same as this original thread.
We should have at least three more threads like this:

1. NXT full feature clients - progress tracking thread 

2. NXT security and user interface improvement - progress tracking thread

3. NXT arbitrary message and mobile application - progress tracking thread

There threads will run parallel with the main thread here and the NXT source  code report here https://asktom.cf/index.php?topic=397183.0

This will at least bring some organization to grass-root development we have here.

I already prepare materials to open the NXT full feature clients - progress tracking thread which will then be linked to nextcoin and nxtcrypto forum so all specific updates regarding full feature client can go there.

Someone should do the same for other thread and keep them updated.

[utopianfuture]

@bitme the list above is severely lacking new ideas and projects from ricot, rickyjames, smartcard etc. also miss a important projects in progress such as nexern's NxtHUB client. You should make him do more for 5K NXT.

[Isildur23]

I made a thread in nextcoin.org to post the most important and valuable info from this thread as many ppl can't follow everything here.

[bitme]

@bitme the list above is severely lacking new ideas and projects from ricot, rickyjames, smartcard etc. also miss a important projects in progress such as nexern's NxtHUB client. You should make him do more for 5K NXT.

So lets add it. I don't say it's finished or ever be. It's just a kind of road map for someone who wish to donate.

[demols]

There should be a marketing video with 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).

a stronger network ?

[bitme]

@bitme the list above is severely lacking new ideas and projects from ricot, rickyjames, smartcard etc. also miss a important projects in progress such as nexern's NxtHUB client. You should make him do more for 5K NXT.

It was very hard to realise who hasn't been funded and who has. I just put projects for which i was sure that were not funded. I asked everyone to help me update it and people who responded were added. I know that nexern has been working on something very special for long time and i thought he was already promised a bounty. Also, i told @bitme about the other sheet which is much more complete ---> https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=8  but he told me to procede with mine. Obviously, i want to be here for the long term, so if @bitme wants his money back i will return them on the minute. He offered the bounty and i thought i can do that, besides the translations and poker freeroll organization.

I'm totally fine with your list. I treat it as sth to expand

[utopianfuture]

@bitme the list above is severely lacking new ideas and projects from ricot, rickyjames, smartcard etc. also miss a important projects in progress such as nexern's NxtHUB client. You should make him do more for 5K NXT.

It was very hard to realise who hasn't been funded and who has. I just put projects for which i was sure that were not funded. I asked everyone to help me update it and people who responded were added. I know that nexern has been working on something very special for long time and i thought he was already promised a bounty. Also, i told @bitme about the other sheet which is much more complete ---> https://docs.google.com/spreadsheet/ccc?key=0AgAGADgnQcrtdHRrV3V3Z1lzOXVEMWtqdElUaEtqV1E#gid=8  but he told me to procede with mine. Obviously, i want to be here for the long term, so if @bitme wants his money back i will return them on the minute. He offered the bounty and i thought i can do that, besides the translations and poker freeroll organization.

Hi why don't you hunt down unfunded project and make a NXT unfunded project - progress tracking thread in the form above. You can take care of that thread and gather scattering  information here and in two forums. That effort should be worth more than 5K NXT.
We should try to be a bit more more organized here.

[rickyjames]

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.

Ricky, I don't follow and clearly am missing some key info here... I hold 7,000 NXT. I can average about a 5 NXT forge with my account.

What does adding a Pi do? Does each Pi allow an opportunity to forge with an additive effect?

There's an additive effect for you only if each client you run on your Pis are all loaded with 7000 NXT that is your baseline.  

The "dirty little secret" of NXT forging is that your ability to forge NXT is directly dependent on and directly proportional to how many NXT you have loaded on your forging rig - Raspberry, VPS, whatever- and what proportion that amount is compared to the TOTAL of all NXT on ALL forging rigs.  Somebody with millions of NXT on their forging rigs is going to get most of the blocks/transaction fees, and hit very frequently.   Somebody with only 7000 NXT is only going to forge a very few blocks/transaction fees only once in a great while (over a hundred times less often than somebody with a million NXT in their forging rig).

NXT forging for capturing transaction fees is not a democratic lottery, it is an oligarchy.  All Raspberry Pis strengthen the NXT node network; the Raspberry Pis loaded with the most NXT while providing that support are rewarded most for their network support.  With apologies to George Orwell, "All Raspberry Pis are equal, but some Raspberry Pis are more equal than others".

http://en.wikipedia.org/wiki/Oligarchy

[bitme]

I think we need to open some threads based on functionality instead of another thread when everything stays in the same place which  is the same as this original thread.
We should have at least three more threads like this:

1. NXT full feature clients - progress tracking thread  

2. NXT security and user interface improvement - progress tracking thread

3. NXT arbitrary message and mobile application - progress tracking thread

There threads will run parallel with the main thread here and the NXT source  code report here https://asktom.cf/index.php?topic=397183.0

This will at least bring some organization to grass-root development we have here.

I already prepare materials to open the NXT full feature clients - progress tracking thread which will then be linked to nextcoin and nxtcrypto forum so all specific updates regarding full feature client can go there.

Someone should do the same for other thread and keep them updated.

4. NXT marketing & promotion?

[liyi3c]

anyone can explain what TF actually is

[utopianfuture]

I think we need to open some threads based on functionality instead of another thread when everything stays in the same place which  is the same as this original thread.
We should have at least three more threads like this:

1. NXT full feature clients - progress tracking thread  

2. NXT security and user interface improvement - progress tracking thread

3. NXT arbitrary message and mobile application - progress tracking thread

There threads will run parallel with the main thread here and the NXT source  code report here https://asktom.cf/index.php?topic=397183.0

This will at least bring some organization to grass-root development we have here.

I already prepare materials to open the NXT full feature clients - progress tracking thread which will then be linked to nextcoin and nxtcrypto forum so all specific updates regarding full feature client can go there.

Someone should do the same for other thread and keep them updated.

4. NXT marketing & promotion?

YES.

This is the thread I did for the full feature clients https://asktom.cf/index.php?topic=412138.0. I am going to track down nexern, macrus3 and benmanga and makethem update there occasionally. The Nxt source code flaw thread has been very successful.
https://asktom.cf/index.php?topic=397183.0

We will have several threads like that running parallel with the main thread.

[rickyjames]

anyone can explain what TF actually is

The ability of all nodes to be able to predict which specific node is going to forge the next block in the next 60 seconds and direct all current transaction data to that specific node for immediate processing.

[Come-from-Beyond]

anyone can explain what TF actually is

https://asktom.cf/index.php?topic=364218.0

[utopianfuture]

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.

Ricky, I don't follow and clearly am missing some key info here... I hold 7,000 NXT. I can average about a 5 NXT forge with my account.

What does adding a Pi do? Does each Pi allow an opportunity to forge with an additive effect?

There's an additive effect for you only if each client you run on your Pis are all loaded with 7000 NXT that is your baseline.  

The "dirty little secret" of NXT forging is that your ability to forge NXT is directly dependent on how many NXT you have loaded on your forging rig - Raspberry, VPS, whatever- and what proportion that amount is compared to the TOTAL of all NXT on ALL forging rigs.  Somebody with millions of NXT on their forging rigs is going to get most of the blocks, and very frequently.   Somebody with only 7000 NXT is only going to forge a very few blocks only once in a great while (over a hundred times less often than somebody with a million NXT in their forging rig).

Hi rickyjames, could you open a thread 2. NXT security and user interface improvement; put your post and ricot's post there so we can have a separate thread running based on that functionality alone.

[BitcoinForumator]

NXT mentioned again by Andreas Antonopolous

http://www.youtube.com/watch?v=bTPQKyAq-DM

listen from 28:30 or so

[jl777]

Also, my understanding is that BCNext has spent more money than he has made with NXT.

Almost everybody made more money than they spent. Your statement looks fanatic

Certainly all the founders other than BCNext made money, but he gave the founders millions of dollars worth of software for 21 BTC. There is no way NXT was developed for 21BTC, hence it does not seem very fanatical to me to believe that BCNext has spent more money than he has made with NXT. I am assuming he has not sold any yet and not counting paper profits.

James

[EmoneyRu]

NXT mentioned again by Andreas Antonopolous

http://www.youtube.com/watch?v=bTPQKyAq-DM

listen from 28:30 or so

29:50