NXT :: descendant of Bitcoin - Updated Information

[GCInc.]

Are other people having problems with withdrawal from Dgex?  I did instant BTC withdrawal last week (5 days) and still haven't got any BTC.  It showed up as processed on my account with a transaction ID that appears nowhere on blockchain explorer.  I got no BTC and they refuse to resend because they say it might send twice even though they know that I got nothing and obviously wanted the BTC fast.  I don't know if this is a transaction malleability issue or if they are f*ing up and screwing people, but people should be aware don't do instant BTC withdrawal from Dgex... They put up no warning even though they know of the problem.  WTF.  Other possibility is that they are just keeping my money and using confusion about transaction malleability as an excuse.  Sorry to be negative and pissed off but don't know of other reasonable recourse after exchanging emails with them and getting no reply to the last one.

Likely nobody of your readers is having such a problem - we have 4 withdrawals out of hundreds in such status because they include "transaction malleability" rigged inputs in the output transaction, thus remaining in unclear state on our Bitcoin daemon until we manage to perform some tech black magic to extract the transactions to clear whether the account holder has anything to do with the input rigging. As you may know the bitcoin network brings up some pretty nasty surprises on occasion, it's unfortunate you are one of the affected customers this time. That's no excuse, support should have explained it to you and this is not the right thread to complain about DGEX account problems. Thanks

[CIYAM]

So basically, we want more nodes by more different people == 1 person <-> 1 node BUT many people in order to prevent the issues describe above.

I don't think this adds much to the discussion but thanks for the input.

[ChuckOne]

Why?

I am not so sure my first idea was a good one but my concern is that if most people become uninterested in forging it could make the network less resilient in the (hopefully unlikely) case of pool servers being shut down by authorities in particular.

So I am quite happy to drop that idea but I still think the problem of "penalty" needs to be considered as well as the problem of having "too much forging power" amongst a small number of pools.

During catching up I got an idea. I'd like some feedback on that:

We should not confuse two different issues: I1) finding consensus and I2) stabilizing the network. Each of these have two different purposes, therefore two different audiences and should therefore have two different incentive mechanisms. We cannot urge people to do something, we only can encourage them by offering rewards.

I1) TF is designed to do that. Transactions fees are the reward/incentive.

I2) More nodes will make the network more secure against switching nodes off. Reward for running a node: X

One could think of a special asset X that is only available for those running verifiable DIFFERENT nodes (in terms of databases, hardware, IPs etc). These accounts will get a portion of X for running a node.

bump for @CIYAM Open

I think this should explain why I think more nodes are not necessarily better. Nodes have to be physically disconnected from each other.

[msin]

Who is currently working on the Decentralized Marketplace / Auction system?

I don't believe anyone, there were talks about using a torrent style system to distribute marketplace which could be loaded to client.  If you are interested in developing, there would be quite a large bounty available.

[ChuckOne]

So basically, we want more nodes by more different people == 1 person <-> 1 node BUT many people in order to prevent the issues describe above.

I don't think this adds much to the discussion but thanks for the input.

My point for this discussion is:

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for running nodes should look like.

[CIYAM]

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for this contributions is.

We need as many nodes as we can get in order to make sure that the network doesn't "fail" (if there are too few nodes then our TPS would drop dramatically and in fact the whole network could be at risk).

Whether these nodes are "pool operators" or "individual forgers" is what we are discussing in regards to the "penalty" situation.

[igmaca]

CONCLUSIONS

is clear that as the value of Nxt respect Fiat up

is smaller nodes may hold but the limit will always be the
opportunity cost of the money referred to immobilize one year..

 

sorry is my google translate mouth 

CONCLUSIONS

It is clear that as the value of Nxt respect Fiat rises

smaller nodes may cover the costs of forging but the limit will always be the opportunity cost of money referred to immobilize one year funds ..

[ChuckOne]

It seems to me that forging is important to a healthy nxt network.

But, forging coins is like trying to find a bitcoin block individually. The small guy does not have much of a chance. Therefore he will not do it.

I have seen talk of NXT forging pools.

Would it not be possible to incorporate some of the mining pool code into NXT? Then the NXT network itself would be a mining pool. I am not a programmer and have no idea what would be necessary.

NXT itself is PoS. It is a complete system. We do not need PoW code in it.

What I proposed few posts above, is a PoW asset build on top of NXT.

If a node can prove its service to the network, an associated account could receive a portion of that coin.

I think that this is one way of encouraging people to set-up nodes.

Forging does not need to be changed.

[ChuckOne]

We need as many nodes as we can get in order to make sure that the network doesn't "fail" (if there are too few nodes then our TPS would drop dramatically and in fact the whole network could be at risk).

TPS is one single aspect. At least for now, we need to ensure database duplication at as many physically distinct places as possible.

Whether these nodes are "pool operators" or "individual forgers" is what we are discussing in regards to the "penalty" situation.

Sorry? What do you mean by penalty situation?

[CIYAM]

What I proposed few posts above, is a PoW asset build on top of NXT.

This is possible (and what James is working on) but securing the Nxt network needs to be done in Nxt not in a layer above it.

[martismartis]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Release 0.8.1e

http://download.nxtcrypto.org/nxt-client-0.8.1e.zip

sha256: 4c665609a08fc5e79143e715c0f46246c66d35c1db6138ca9b025a1188d9aa3c


Change log:

Improved handling of peer announced addresses and ports. Setting
nxt.myAddress is now optional, which will help users with dynamic IP
addresses. When connecting to a peer, as long as nxt.shareMyAddress is
enabled, it will at a later time attempt to connect to your announced
address, or if not set, to the address your request came from.
If successful, the peer will use this address to connect to you in the
future, and will share it with others. This also does verification of
announced addresses, and considers your node connected only after a
successful connection to the announced address is made. This will prevent
invalid announced addresses from being spread to other peers too.

If you need to use a non-default port, the port has to be appended to your
announced address too. It does not need to be the same as
nxt.myPeerServerPort, so you can run the server on one port but forward
a different router port to it. If the port is not set in announced address
however, but nxt.myPeerServerPort is non-default, nxt.myPeerServerPort
will automatically be appended to the announced address.

To summarize: For users with dynamic IPs, you don't need to put anything
in nxt.myAddress, but still need to set up port forwarding at your router.

Verification of hallmarks has also been improved to attempt to resolve
hostnames to IP addresses. Note that if you use a non-default port,
the hallmark should include your address only, without the port.

Added generateToken API request. Parameters are secretPhrase and website,
response is the token string wrapped in JSON. This is also available
on the admin.html page.

Improved handling of init and shutdown. Nxt.shutdown() is now public and
client developers can call it. When Nxt is started as a standalone
application by calling main(), it will schedule a shutdown hook, otherwise
if started using init(), the caller of init() is responsible for calling
shutdown() or scheduling a shutdown hook.

Delayed starting the blockchain scan and the jetty servlets until the
initialization of all classes has completed. This should allow registering
listeners with those, and will also help prevent errors due to servlets
starting to accept requests before the system is fully initialized.

If nxt-default.properties is not found in the classpath, Nxt will also
make an attempt to load it from the file defined in the system property
nxt-default.properties, so you can define it on the command line:
java -Dnxt-default.properties=conf/nxt-default.properties. This is of
interest to client developers only.

Support use of POST in addition to GET for all API and UI http requests.
To enforce use of POST only, for those requests that require the user
secretPhrase, the nxt.properties nxt.apiServerEnforcePOST and
nxt.uiServerEnforcePOST can be set (default is false for API, true for
UI). This way client developers can enforce that only POST requests are
used for handling sensitive data.

The default NRS browser UI has been changed to use POST only, and so have
the tools - admin.html, message.html, alias.html. This way the user
secretPhrase will no longer be cached in the browser memory.


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Thank you for update, trying my stick for public node. To be sure, do I need to change something in nxt-default.properties or I can use from previous 0.8.0e?

[CIYAM]

Sorry? What do you mean by penalty situation?

The situation is that under the proposed TF changes you will "try" to announce your "forged block" and end up being rejected (due to a "better" block) and then be ignored by those nodes that saw this for 24 hours.

[farl4web]

SWARM NEEDED

Here is the reddit post, please everyone sign up at Bittrex.

Hello NXT community,

I solicited feedback on another thread about which coins we should support on our exchange before our public launch. NXT was overwhelmingly recommended.

Before we make the final decision, we're providing a special invite code for NXT users to experience our site first hand. Go to https://bittrex.com/Account/Register and use SUPPORT_NXT as the invite code. This gets you past the invite code queue. Place some trades, enabled 2FA, or try any of our other features to help us stress the site before the final launch. If you find a bug, we're handing out bug bounties as well. Having a great exchange helps us but also helps the NXT community.

If we get 100 signs ups using that code and active on our site, we'll add NXT before our public launch.

Please let me know if you have any questions or feedback, Bill

Just a reminder for everyone who hasn't already to please sign up for Bittrex.  Will also update everyone on Atomic Trade soon.  Thank you

68 signups as of this mornings, we need 32 more people to sign up at Bittrex, please do so if you have not.  Thank you.

Done!

[redsn0w]

CFb i sent you a PM

   

[Jean-Luc]

Thank you for update, trying my stick for public node. To be sure, do I need to change something in nxt-default.properties or I can use from previous 0.8.0e?

I added two more properties to the defaults:
nxt.apiServerEnforcePOST=false
nxt.uiServerEnforcePOST=true

[klee]

‪NXT‬ donations accepted here:
http://www.singularityweblog.com/

Show some love NXTers!

[Mario123]

So basically, we want more nodes by more different people == 1 person <-> 1 node BUT many people in order to prevent the issues describe above.

I don't think this adds much to the discussion but thanks for the input.

My point for this discussion is:

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for running nodes should look like.

Pump

Who is able to develop a lightweight NXT tool for Windows and Mac, which sits just in your taskbar/menubar (see picture as an example)?

Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

http://cdn.osxdaily.com/wp-content/uploads/2011/07/desktop-utility-osx-lion.jpg
http://cloud.addictivetips.com/wp-content/uploads/2013/04/Window-On-Top.png


(I'm no windows user. Do windows user still have this little apps in the task bar? Or is there a modern equivalent, like a gadget on the desktop?)

Since this is so OS-special, maybe two different developers for Windows and Mac. Come on, guys. Raise your hand for this project!

I really think that a nice widget/menubar helper could bring something to Nxt. (For now?!)

[farl4web]

to put it in numbers
Account  1900 Nxt

1440 blocs per day
1 blocs per year with 1900 Nxt
fee per bloc (For example) 100
Profit per year 5.3%
5.3% must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

If 1 Nxt = 1 dollar

Account  with 1900 Nxt will generate 1 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

When is the change of fee planned to 0.1 NXT? I think if NXT is been calculated more in decimals behind the comma(point), 1 NXT will get more valuable. Pure
psychological.

sorry  

to put it in numbers
Account  1900 Nxt

1440 blocs per day
1 blocs per year with 1900 Nxt
fee per bloc (For example) 100
Profit per year 5.3%
5.3% must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

If 1 Nxt = 1 dollar

Account  with 1900 Nxt will generate 100 Nxt = 100 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

Keep thinking.  You had to run this node for a year, so the 100 dollars has to cover a monthly operations cost of 100/12 = $8.33 per month

So....

IF the block you capture once a year has 100 NXT in fees in it and
IF each NXT is worth $1 and
IF your monthly hardware amortization, bandwidth costs, and electricity costs are less than $8.33 per month

Then you made a monthly profit = $8.33 - monthly server costs

Anybody out there running a VPN for less than $8.33 per month?  

Running a paid node for supporting the network is something different than just unlocking your account on a PC and start forging. Confusing what people are talking about here.  

[wesleyh]

some testnet for 9827273118446850628 please, thanks!

[opticalcarrier]

can someone tell me how to access admin/alias/message/update html pages when using 0.8.1e?  I cant seem to nav to them.  I can forge though