NXT :: descendant of Bitcoin - Updated Information

[allwelder]

Some changes to Chinese text:

100% PoS was added to "第一个100%股权证明(100%PoS)的货币" since there is no clear consensus/translation on PoS yet but PoS is understood fairly well.

Also, just throwing this out there -- do we have any Hindi, Gujarati, etc writers here? We've got a whole sub-continent out there who'd probably make great adopters

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我认为：Nxt 这个名字是最好的。
而且：没有所谓的官方论坛，而且目前的论坛主要是：https://forums.nxtcrypto.org/

[wakasaki808]

@wakasaki80 How does it works in general ?

Well I really have a bad understanding of the way it actually works...

eMunie is ran in Java (like Nxt I believe ), beta testers download a zip named something like "emunie.9.72014.zip" which contains just a 1 single file (emunie.9.72014.jar). Once you click it then unpacks to form a "peer" folder and some other various files. You can then create a "hatcher" by creating a shortcut of the emunie.jar file and adding "-hatcher" to the end of "Target" in Properties(via Windows).

Double-clicking the link leads you to the client which looks like

(old client with some of the old transactions).

Leaving the client open you (with help of the hatcher and one's current holdings) will allow you to generate EMU's. This will gain interest on it the longer you hold it and depending on the demand of EMU(the system behind EMU will increase total supply of EMU if demand grows and stops creating new EMU if the demand stops). I'll try find a link that explains more about the system of eMunie and how it works...I really am bad (was corrected in the forum because of my last post in the other FUD thread.)

hopefully I am allowed to say all this outside of the beta forum...haven't been in a beta before other than some old PC games where I played it more than talked about it   ...

because Dan closed the open-pre-sale the price will end up being the Unit Value: $0.10 -> 1eMu no different than anybody else paid. The open pre-sale was designed to set up a price for the initial actual release according to Dan, so without this the price will likely be the same as the pre-sale price.

Here's a video that someone posted on the emunie forums (of the new Beta Window's Installer that was just released) didn't try the installer myself yet

http://www.youtube.com/watch?v=JOsvGz5X5OI

[Anon136]

people who invest in something that they dont understand the workings of are crazy! you may get lucky once or twice but eventually you will get taken really hard by a snake oil salesman. with that being said i genuinely hope that you get lucky.

[wakasaki808]

people who invest in something that they dont understand the workings of are crazy! you may get lucky once or twice but eventually you will get taken really hard by a snake oil salesman. with that being said i genuinely hope that you get lucky.

it's hard to explain and I have a bad time explaining things in general...I do mostly understand eMunie and how it works (just how the eMunie system keeps the price per eMU stable and how it prevents things like pump-and-dumps is where I fall apart on).  I've also been able to test out the client for the last week, off-and-on, since I don't go on my computer much. Didn't invest anything and I would suggest people who are worried just wait till the client actually releases since there shouldn't be any price different per EMU between now and then and one can just set up a hatcher to generate eMU anyways .


The way I seen the client work simply is

0 eMU (initially) -> "sets up hatcher" -> generate "Earnings" of # EMU after an hour or so -> "Interest" and "Fees" then start forming depending on the demand of eMunie and amount one holds.

http://forum.emunie.com/index.php?/topic/115-newbies-read-me-first/ is pretty much everything one needs to know with regards to eMunie.

[NxtChoice]

I added my idea: University projects (dissertations, masters, bacheleor thesis). This is a long therm thing, but if we have got here any teachers or even university attendants, it would be wonderful if you write your project based on Nxt.

There is one guy who writes his Phd about some Nxt app... There can be many thesis where you programm some Nxt app/add-on..., but I would like to get to the enomical/ecological areas too. There might be serious works based on the PoS, on Nxt, how it could change the world

I remembered that a Phd or teacher in Israel is studying on PoS and also had a good independent result on the 25% attack after Cornel's publication, and Meni Rosenfeld recommended that guy very much. BTW, I don't know how Meni Rosenfeld think about Nxt.

[NxtChoice]

We'll see a fork soon, some nodes run old NRS without AM support...

I suggest have the feature ready two or more versions before the upgrade announcement in the future. That's, we can enable AM in version 0.5.3, 0.5.4 and we announce it in 0.5.5. So I think most people have already updated to 0.5.3, so the fork probability will decrease a lot.

[opticalcarrier]

We'll see a fork soon, some nodes run old NRS without AM support...

I suggest have the feature ready two or more versions before the upgrade announcement in the future. That's, we can enable AM in version 0.5.3, 0.5.4 and we announce it in 0.5.5. So I think most people have already updated to 0.5.3, so the fork probability will decrease a lot.

potentially we could write in a feature for the client to periodically check an alias directed to a webpage.  This would enable a method to broadcast messages to people to move off the old client or they will go off on a fork.  Heh.  It could even write some data that causes to crash the client at block 44000/whatever.

[salsacz]

3]  Stock exchange.  If I got it correctly this is going to be a simplified (for non-pro traders) version of a stock exchange, can be used for crowdfunding

So it is almost like kickstarter...
http://www.usnews.com/news/articles/2013/10/25/crowdfunding-better-for-selling-products-than-stock
http://www.bloomberg.com/news/2013-10-23/sec-to-vote-on-crowdfunding-plan-as-white-advances-jobs-act-1-.html
http://www.usatoday.com/story/money/business/2013/10/23/crowdfunding-ipo-sec-jobs-act/3169395/

[salsacz]

We'll see a fork soon, some nodes run old NRS without AM support...

I suggest have the feature ready two or more versions before the upgrade announcement in the future. That's, we can enable AM in version 0.5.3, 0.5.4 and we announce it in 0.5.5. So I think most people have already updated to 0.5.3, so the fork probability will decrease a lot.

potentially we could write in a feature for the client to periodically check an alias directed to a webpage.  This would enable a method to broadcast messages to people to move off the old client or they will go off on a fork.  Heh.  It could even write some data that causes to crash the client at block 44000/whatever.

Wuoldn't Google Cloud version of the client solve this?

[kunibopl]

I will conduct several online chess tournaments on the Free Internet Chess Server, the oldest chessserver on the internet (nearly 20 years old). I will give prizes in NXT for the first place from my own purse.
you can check my account and see, that my NXT is not unlimited (on the contrary). Anyone you wants to contribute is welcome.

I will announce the dates for the tournaments. It's part of our promotion campaign.
Chessplayers are similar to poker players open to new ideas like cryptocurrency.
I also will advertise these tournaments (around 5) on other sites.

If you wanna take part register at http://www.freechess.org/ and maybe download a client like "thief" or "babaschess".
my handle there is "Rivaldo".

[BitAddict]

I got one question for CfB or anyone who knows.

Is it possible to attack the system sending a lot of transactions yourself to another accounts you own, so it is easier for you to HIT the next block and so on?

I guess not, but I want explained and detailed answer to understand.

Thanks!

[gbeirn]

Just got all my nodes updated to 0.5.5

[Zahlen]

I lost track of the stuff I wanted to quote, so here's a dump of my thoughts without context. (sorry ^^;)


I think the public perception of the ***coin brand has both grown and changed recently, with things like Doge ( ) and Coinye West () in addition to established cryptos like Bitcoin. I'd like folks to understand that we're something very different, unlike anything that's come before. So to me, Nxtcoin is bad, Nxt is good. And Nxt, not Next, confusion isn't a problem for Doge (no one's talking about Dogcoin), I don't see why it will be for Nxt.

We need to better organize our discussions. Instead of continuing side conversations in this megathread, a good way is to start threads in the other forums like forum.nxtcrypto.org, then link to them here. Hopefully we can eventually develop better communication tools than traditional linear forum threads. The nxtcrypto guys have been doing nice things with their forum interface, kudos to them. (Not saying they are the official place to talk about Nxt, just saying I like their forum best.)

We need to point new folks to places that are friendly for them. I'll be working on making Nxt wiki articles easier to read and understand.

We also need to be bold and start and run more discussions and polls. Being decentralized means we shouldn't wait for other people to organize things for us. It also means that consensus will be difficult to reach quickly, we shouldn't try to rush discussions.

IMO, the screenshots of the eMunie client on their website are cool not because of the client, but because of Carrie Fisher in the desktop background.  
(Not bashing eMunie, just praising Leia.)

We need more ladies interested in Nxt!  


EDIT: Kickstarter refunds all contributions if the target isn't met, which is different from selling shares. Would be great if service providers can explore different models of crowdfunding.

[Anon136]

I got one question for CfB or anyone who knows.

Is it possible to attack the system sending a lot of transactions yourself to another accounts you own, so it is easier for you to HIT the next block and so on?

I guess not, but I want explained and detailed answer to understand.

Thanks!

No it doesnt work like that. If you divide your stake in half than each half will only be half as likely to hit as the previous whole. Meaning that dividing it up into parts wouldn't make you any more or less likely to hit.

[salsacz]

I think the public perception of the ***coin brand has both grown and changed recently, with things like Doge ( ) and Coinye West () in addition to established cryptos like Bitcoin. I'd like folks to understand that we're something very different, unlike anything that's come before. So to me, Nxtcoin is bad, Nxt is good. And Nxt, not Next, confusion isn't a problem for Doge (no one's talking about Dogcoin), I don't see why it will be for Nxt.

response:

Nxt has such features as
# Name doesn't contain "coin", "cash", "kash", "money", "dollar",  nor "bit" (at least now, Nxt is a codename)

We need to better organize our discussions. Instead of continuing side conversations in this megathread, a good way is to start threads in the other forums like forum.nxtcrypto.org, then link to them here. Hopefully we can eventually develop better communication tools than traditional linear forum threads. The nxtcrypto guys have been doing nice things with their forum interface, kudos to them. (Not saying they are the official place to talk about Nxt, just saying I like their forum best.)

Nxt marketing & promotion - progress tracking thread, Nxt full feature clients, Nxt web service providers, Nxt security and user interface, Nxt open source code flaw report

We need more ladies interested in Nxt!  

- our homepage, facebook and twitter is lead by a lady
+ do you like our first girly site? : www.nxtgirl.ru

[MadCow]

people who invest in something that they dont understand the workings of are crazy! you may get lucky once or twice but eventually you will get taken really hard by a snake oil salesman. with that being said i genuinely hope that you get lucky.

What about bitcoin? Who expects Jo Public to understand crypto currencies at all?  Do you need to know how a car works to drive in one? What about when you get sick and go to hospital - will you only take medicine you have researched and 'understand the workings of'?

We trust 'expert opinion' and jump into the unknown. That is human nature.

In the real world we are all using instinct and intuition to make decisions. Understanding of something completely is very rare - even machines.

My instinct says eMunie is going to be very big because I have tested it many times and watched Fuserleer interacting with his team of beta testers in their shoutbox. They have a real community now - they know names and skype etc - they are friends. That is something NXT does not have. Who cares about BCNext or CFB as people? Who knows them? Dan Hughes has many friends who will help him, because they know him. It is beyond self-interest for them now. It is their collective mission to finish and promote emunie.

There is good stuff going on here, but eMunie is a bigger threat than many of you know. I hope both can coexist.

[Anon136]

people who invest in something that they dont understand the workings of are crazy! you may get lucky once or twice but eventually you will get taken really hard by a snake oil salesman. with that being said i genuinely hope that you get lucky.

What about bitcoin? Who expects Jo Public to understand crypto currencies at all?  Do you need to know how a car works to drive in one? What about when you get sick and go to hospital - will you only take medicine you have researched and 'understand the workings of'?

We trust 'expert opinion' and jump into the unknown. That is human nature.

In the real world we are all using instinct and intuition to make decisions. Understanding of something completely is very rare - even machines.

My instinct says eMunie is going to be very big because I have tested it many times and watched Fuserleer interacting with his team of beta testers in their shoutbox. They have a real community now - they know names and skype etc - they are friends. That is something NXT does not have. Who cares about BCNext or CFB as people? Who knows them? Dan Hughes has many friends who will help him, because they know him. It is beyond self-interest for them now. It is their collective mission to finish and promote emunie.

There is good stuff going on here, but eMunie is a bigger threat than many of you know. I hope both can coexist.

You do not need to invest in bitcoin in order to make advantage of it. As an example, if i buy some bitcoin to send to my family "back home" and then they sell the bitcoin to buy food, we have all used bitcoin but none of us have "invested" in it per say.

[Zahlen]

+ do you like our first girly site? : www.nxtgirl.ru

Yeah, great job yulkisa and team.  But we still need moar!

[MadCow]

people who invest in something that they dont understand the workings of are crazy! you may get lucky once or twice but eventually you will get taken really hard by a snake oil salesman. with that being said i genuinely hope that you get lucky.

What about bitcoin? Who expects Jo Public to understand crypto currencies at all?  Do you need to know how a car works to drive in one? What about when you get sick and go to hospital - will you only take medicine you have researched and 'understand the workings of'?

We trust 'expert opinion' and jump into the unknown. That is human nature.

In the real world we are all using instinct and intuition to make decisions. Understanding of something completely is very rare - even machines.

My instinct says eMunie is going to be very big because I have tested it many times and watched Fuserleer interacting with his team of beta testers in their shoutbox. They have a real community now - they know names and skype etc - they are friends. That is something NXT does not have. Who cares about BCNext or CFB as people? Who knows them? Dan Hughes has many friends who will help him, because they know him. It is beyond self-interest for them now. It is their collective mission to finish and promote emunie.

There is good stuff going on here, but eMunie is a bigger threat than many of you know. I hope both can coexist.

You do not need to invest in bitcoin in order to make advantage of it. As an example, if i buy some bitcoin to send to my family "back home" and then they sell the bitcoin to buy food, we have all used bitcoin but none of us have "invested" in it per say.

I see your point! You're talking about using bitcoin to move value around rather than buying and holding. That is very true. eMunie can do that too, and it's 100% anonymous, very fast and scalable to visa levels, and doesn't have a huge bloated blockchain.

I don't know how it works, but my gut tells me Dan Hughes is the equal of Satoshi in skill, and from looking at his resume he is a lot more than talk.

[salsacz]

gosh, each time I think I found BCNext, I read his old posts and find a proof it isn't BCNext... or he was posting some misleading posts

Btw gathered texts for the script for the Nxt Myths video are on 34 pages... And still I am hoping that the text version will have at most 10 pages