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Messages - v39453

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Nxt General Discussion / Re: Friendly nxt fork
« on: August 25, 2015, 08:12:56 am »
You are also not allowed to sell the code to third parties without permission.

Yes you are, at least that is the idea of the GPL. But you are required to provide source code on subsequent request.


Nxt General Discussion / Re: Price speculation
« on: August 11, 2015, 08:20:31 pm »
There's this feeling that being decentralised somehow moves you outside normal jurisdiction, as if it's a spell. It isn't.

I would suggest concentrating on threats that can actually happen. Maybe there is a 50% chance that a major country will declare cryptocurrencies or cryptoassets illegal, but getting sued for trademark infringement or because somebody put illegal content on the blockchain would be more like a 0.1% probability. Just seems like wasting energy on unnecessary things.

Nxt General Discussion / Re: Price speculation
« on: August 09, 2015, 10:22:59 am »
Currently enjoying the writing of Joshua Unseth: http://junseth.com/

Worth a read :)

These attacks on Vitalik are stupid, IMO. They come off as a combination of sour grapes and insecurities. If people want to attack ethereum, ok, but give us a detailed technical or economically sensible attack.

Yes. Also the old argument: Bitcoin exists, we don't need anything else.

"No one in Bitcoin is incentivized to leave their money behind in exchange for this alternate implementation of a blockchain."

General / Re: Bitcoin Micropayment Channels like feature in NXT
« on: July 28, 2015, 03:19:05 pm »
I don't know, but if Account Control works the way I think it will, this will be possible. I had some thoughts about this earlier:


A transaction from an account that has had no activity for a while could have a lower fee. This would be similar to Bitcoin, where transactions with old inputs are free. It could also be a sliding scale: the longer the account is inactive, the lower the fee for the next transaction becomes.

Good idea, but I'm not sure if this technically is going to work. The forging node must determine the age of the last tx for every account in the unconfirmed txs, wouldn't that put much more workload on the node?
It should be cheap enough to store the block height of the most recent transaction with the account that made it, along with the account name, balance and all its other properties. It's just a few bytes, and the account needs to be loaded to check the balance anyway. However, it has the usual problem that attackers can create very many accounts.

An attacker could create many accounts either cheaply and slowly, or quickly and by paying the full fee for each account created.

I'm not aware of anyone using Bitcoin's free transaction feature for spamming.

Maybe we can find a way to prevent spam even with zero fee txs.

What about a statistical analysis of the unconfirmed txs? Something like: "limit the amount of zero fee txs coming from the same account", so that the blocks don't fill up with it. The filtered txs would confirm in the following blocks, so nothing get lost (but it would take them considerable more time to confirm).

A transaction from an account that has had no activity for a while could have a lower fee. This would be similar to Bitcoin, where transactions with old inputs are free. It could also be a sliding scale: the longer the account is inactive, the lower the fee for the next transaction becomes.

Account Control / Re: Microtransactions and other use cases
« on: June 01, 2015, 03:36:03 pm »
Also a malicious merchant could broadcast ALL old tx too, as they are non exclusive.

At least in Bitcoin you can use one input only once, I'm pretty sure it's similar in Nxt.

After investigating this, it seems that to do it in Nxt, an increasing deadline would need to be used, which prevents high-frequency applications.

I'll mention this as a feature request here. This would be a One-Cancels-the-Other type transaction, where the account owner can sign many transactions with the knowledge that only one of them can be included in the blockchain.

Nxt General Discussion / Re: Price speculation
« on: May 26, 2015, 02:57:47 pm »
so the rich do get richer... but this goes for any coin it seems. i just wanted to see how one might change the mind of someone that sees pos coins as rich getting richer... because this issue always comes up when showing ppl nxt... would be great if there was a short 2 sentence answer.

I would say this is valid for most strategies in finance. To create an incentive for people to step into your system, you can provide rewards for exchanging something with value for this currency, Asset or whatever. This incentive is interest in most of the cases, the more you input, the more interest you get.

I don't think NXT fees have anything to do with interest payments. They are just for spam protection.

Nxt General Discussion / Re: [CORE] White Label Blockchain
« on: May 16, 2015, 11:04:03 am »
3) An adopter may not want that in the marketplace there are drugs and adult material listed for sale, in the same blockchain where they operate their business, as the laws of the country they are may stop their operation for such reason.

I wonder if they would consider creating their own user interface, which blocks some things, but using the Nxt blockchain, an acceptable solution.

There could be millions of the digital asset issued and traded everyday. I'm really concerned about blockchain bloat on such high volume exchanges.

Off-chain transactions could be used for trading. A market maker for an asset operates at a known IP address, and who exchanges signed transactions with a trader without broadcasting them, as often as is needed. Transactions are added to the blockchain when one of the parties disconnects. There also has to be a mechanism that prevents the parties from transferring their NXT or assets somewhere else before they have disconnected, and which I hope Account Control will provide.

This concept applies to other cryptos too, but Nxt has some advantages, such as deadlines in the transactions, which could act as version numbers for non-broadcast transactions. Bitcoin has a transaction sequence number, but it is not currently used by the network for this purpose, and wouldn't be as good even if it was activated.

A client could sort the messages by amount paid, that wouldn't need any changes to the core.

Nxt General Discussion / Re: Price speculation
« on: April 27, 2015, 12:06:27 pm »
^^ Bitcoin is merely a currency. It's not designed to distribute arbitrary data in the way that Nxt is. Its main mechanism for doing that is OP_RETURN, which is limited to 40 bytes.

In Bitcoin, this would just mean splitting the content in 40 byte parts, and paying more fees. I don't see how a law could differentiate between Nxt and Bitcoin.

I had some ideas about microtransactions: https://nxtforum.org/account-control/microtransactions-and-other-use-cases/.

I haven't tried to code them so I don't know if they work in practice. But it should be possible to exchange a series of signed transactions between two parties off-blockchain. Only the last transaction is added to the blockchain (out of perhaps thousands of smaller transactions).

This would need Account Control to make it trustless, but I think it could be presented even before Account Control is available because it doesn't change the basic idea.

Account Control / Re: Microtransactions and other use cases
« on: April 25, 2015, 10:49:57 am »
Furthermore why would I even want to limit my account to only send to that specific merchant? I am pretty much locked to him for life then. What if he goes rouge or broke?

It's only one of your accounts, and in this case it is for one month. The lock expires after one month.

Actually it would be better if there was a way to cancel the lock. But it would have to be a delayed cancel (for example 100 blocks) to give the payment processor time to broadcast the last transaction it has received. This feature would also make it better than a Bitcoin Lightning Network, which has no trustless way to cancel pending locks.

There is also the question of locking all funds in an account to a particular payment processor. This could be avoided if Account Control supports a way to lock only part of the funds to a specific account. (The same thing can also be done by moving funds to separate accounts, so I don't see it as important as the question of canceling ongoing locks.)

Nxt General Discussion / Re: Nxt frequently mentioned in ESMA report
« on: April 22, 2015, 09:42:45 pm »
One nice and simple answer sheet for EMSA

That's good, because they might take it more seriously when it comes from NXT Foundation.

It seems somebody is already spamming them with information about their crypto investments:


Nxt General Discussion / Re: Nxt frequently mentioned in ESMA report
« on: April 22, 2015, 06:05:48 pm »
All responses will be compiled and a video summary of all community responses will be created by the NXT Foundation and submitted to the ESMA no later than a week before their deadline.

Somehow I think ESMA would expect a short, clear, written response from an entity known as NXT Foundation, and which takes a position on what kind of laws/regulations, if any, should there be for crypto.

Maybe we should advice them to take a wait and see approach, perhaps that would be best at this stage.

They seem to be unaware of Medici, I didn't find it.

Official Nxt Releases / Re: NRS v1.5.2e
« on: April 17, 2015, 11:38:54 am »
Phasing didn't quite work like I expected.

- "Incorrect phasing finish height." for large values. What are the limits?

Testnet / Re: If you want some testNXT - ask here
« on: April 16, 2015, 03:42:24 pm »
Can I have some testNXT?


Account Control / Re: Microtransactions and other use cases
« on: April 15, 2015, 11:59:40 am »
This concept is known as Lightning Networks in the Bitcoin world: http://rusty.ozlabs.org/?p=450. The implementation is complicated and transaction malleability causes problems.  If it is possible to do the same thing with account control, it would be simpler and transaction malleability wouldn't cause problems.

I need a quick and easy opinion on GetCredits.

What do you mean 'quick'? Is something happening? Their IPO was supposed to be a long time ago, it has been delayed.

Nxt General Discussion / Re: Price speculation
« on: April 14, 2015, 03:54:42 pm »
No Nxt does not allow anonymous transactions. This should be corrected. And why even make that distinction? Its no more anonymous than bitcoin or any crapcoin. Silly journalism.

It does allow to some degree, like Bitcoin, even before coin shuffling is implemented. Also Satoshi talks about  privacy in his Bitcoin white paper. It's an important feature.

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