Thursday, January 30, 2014

Nxt Distribution - infographics

By: Salsacz, donations: 15003961341330858247
High Quality:

Nxt Myths - paper completed

After a month of hard researching I finished writing the Nxt Myths thesis:

Tuesday, January 28, 2014

NxtMyths 6: What is Nxt mining?

Nxt is a pure Proof-of-Stake (PoS) currency. Users validate the blockchain and secure the network by running a light weight client on any computing device (even one that used to run Windows XP). For doing this users are rewarded with Nxt coin that is collected from transaction fees. In addition, the "transparent forging" feature of Nxt will penalize accounts that do not participate in the mining process by temporarily  reventing them from earning transaction fees

Read all chapter:

Saturday, January 25, 2014

Nxt Blockchain / Transaction Analysis (by: Brosephus)

This is a report of some high-level exploratory analysis of the Nxt blockchain. The goal here is to better understand how Nxt works, what has transpired so far, and to see if there is anything strange in the data.

There are so many interesting things to look at, but this is a start. If there any suggestions at additional things to look at or ways to look at things, I'm all for it. At some point I might clean up and release the code for doing all of this here as well.

Read all text

Friday, January 24, 2014

NxtMyths 5: Unsafe Password

Since all Nxt accounts are stored on the network, isn't it possible for someone to guess my "secret phrase" and get easy access to my coins?

This is a very important question. See our Account Security page for an in-depth answer. In brief: This question emphasizes the importance of using a strong, secure password to create your Nxt account.

If you enter a passphrase less than 30 characters long in the Nxt client, you will be warned that you are creating a security risk.  A truly random string of 50 to 60 characters is a far better choice for a passphrase, and will significantly reduce the risk of someone "brute-forcing" your account or accidentally using the same passphrase.  

Nxt supports 10^77 different account numbers (that's 100 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 000 accounts), so the range of possible passphrases is significant. You can use a site like to test the strength of your passphrase, and get an estimate of how long it would take a standard computer to crack it.

To be safe, use a 30-characters long password that looks like this: a6f-5g46§s5g16s5dg16s5df1g6s,51gů§6a54ůfv6\,96d76E5D4.


Come-from-Beyond: “Aye, we r going to follow the same way as Bitcoin 5 years ago. I still think that brainwallet is much more secure than files on a disk.”

A brainwallet refers to the concept of storing Bitcoins in one's own mind by memorization of a passphrase. As long as the passphrase is not recorded anywhere, the Nxts can be thought of as existing nowhere except in the mind of the holder. If a brainwallet is forgotten or the person dies or is permanently incapacitated, the Nxts are lost forever.

A brainwallet is created simply by starting with a unique phrase. The phrase must be sufficiently long to prevent brute-force guessing - a short password, a simple phrase, or a phrase taken from published literature is likely to be stolen by hackers who use computers to quickly try combinations. A suggestion is to take a memorable phrase and change it in a silly way that is difficult to predict.

The phrase is turned into a 256-bit private key with a hashing or key derivation algorithm (example: SHA256). That private key is then used to compute a Nxt address, or a deterministic sequence of addresses.

Nxts are sent to the address. In order to recover the Nxts, one must recompute the private key with the same phrase. The private key is imported into a wallet. It is very important when creating a brainwallet to use a passphrase that has a very high level of entropy. If this is not done, theft of the brainwallet is an eventual certainty.

This is not a simple suggestion. This is a requirement. Most people when asked to create a secure password, with everything they've heard about creating a password, will still create a password that if used for a brainwallet, will result in the eventual theft of their funds. The simple fact of the matter is that hacking a brainwallet password is a mathematical exercise that requires no internet access, no communication, and leaves no trace, so hackers can collectively try multiple trillions of passwords every second in the privacy of their own homes. 

Your bank might tell you that a 10 character password with uppercase, lowercase, numbers and symbols is a strong password, but it is not strong enough to secure a brainwallet. 

A password that might be strong enough for traditional banking or a social website is typically unacceptable for a brainwallet.

A brainwallet passphrase, at a minimum, needs to be an entire original sentence that does not appear in any song or literature. Security is enhanced simply by including some sort of memorable personal information, which doesn't necessarily even have to be secret (e.g. an e-mail address, or phone number). A good brainwallet passphrase will have dozens of characters.

NxtMyths 4: Source Code

Why isn't Nxt open-source?

Eventually, it will be.  At the moment, some of the code is still private because it is still being hammered out.  The development community released all of the base source code on January 3, 2014, and source code for additional features (the "secret sauce") will be released in the spring of 2014.   The developers have introduced three security flaws into the source code to prevent people from creating copies of Nxt by simply taking the source code and re-using it.  People who discovered the security holes claimed rewards for finding them.  Two of three implemented security flaws had already been found.

As BCNext said, anyone could join the development after the release of the source code.  So Jean-Luc joined the dev team and started with refactoring the source code. Also the Klee’s crew is working on the source code reviewing.

What did experts say about Nxt’s source code and about inventor BCNext?

“BCNext knew that Java binaries could be easily decompiled, everything in Nxt is made on purpose. U'll get most of the answers in the last part of BCNext's plan...”
“I noticed the same things, the code is written in back-to-90s style. The author definitely used to code in Assembler. But I wouldn't say that this is bad. U can buy "Java for dummies" book and in 3 weeks u'll be writing code full of comments like "// Now we set A to B plus C", declarations like "static final int ONE = 1;", Optional<T> from Guava that requires 3rd party libraries, methods that r called once... the list goes on. I'd rather trust to code written in assembler style. Script kiddies shouldn't write financial software.”

“NXT's beauty is in the algorithms and maths that have brought forward the state-of-the-art.  I seriously doubt the creator cares about keeping tidy with the code.  In fact, I know quite a few genius computer scientists who produce really ugly, stupid code.  However, that doesn't matter one iota when the algorithms are groundbreakingly better than anything that's come before.
Our investment is in the extremely clever people behind the NXT project.  Computer science and software engineering, though related, are different things.  I am glad the NXT has a computer scientist like BCNext behind it who actually has new ideas and can bring them to life, no matter how messy the code may be.  New capabilities are something that has been missing from every other alt coin that has come before NXT.
As I said, some really great computer scientists do not follow great software engineering principles, but their code does things no one else's can.  And that, my friend, is the point.
Bcnext is a freaking genius. I worked so hard to try to figure something out like this myself to no avail. What i proposed in my thread is a far cry from this much better solution.”
That we are not investing in source code, we are investing in the algorithms, the big ideas (BCNext) and the huge community supporting NXT.
Computer science and software engineering, though related, are different things.  I am glad the NXT has a computer scientist like BCNext behind it who actually has new ideas and can bring them to life, no matter how messy the code may be.  New capabilities are something that has been missing from every other alt coin that has come before NXT.

I know that this is about fees and not generating currency, but the concept of adjusting system metrics, based off daily transactional statistics is something I've looked at and thought about for a loooooong time.  I think we could do the same type of thing here.

This is the real-world dude, not an algorithm found in a textbook
You have to give the creator credit for implementing the first version bitcoin-era crytocurrency in Java. I am sure a lot of time and effort were invested in this.

I am amazed how motivated, innovative, and intelligent (sometimes I only understand half of the tech talk in the main thread the community behind NXT is!

If you'd read all of BCNext's posts (which I did) you'd see that lots of people wanted to give him more coins, and not just one at the most, which he put the cap on. But he wasn't motivated by that he just wanted to get the coin out there, he could have taken alot more of people's money, hell if I hadn't have come late to the party I would have jumped on in there and taken a punt on him. But he actually only wanted 21 BTC's so that it mirrored satoshi's 21 million BTC's! He's kinda of kooky and probably a bit of a genius (used lightly). But I liked his enthusiasm and paranoid personality. (He got a call on Skype from someone saying that they were the police and then stopped posting).

Source code appears to be the work of a super-genius with a strange formatting style.

Asian Prepper:
I can totally see the words "genius" & "masterpiece" being used to describe Satoshi but lets wait for some solid proof & evidence first before we use those words to describe BCnext. Right now we have lots of hype n "sizzle" but I dont see any solid "steak" yet to show for the Nxt hype yet. Right now, from an early adopter & Nxt investor perspective, all I see is another copy cat programmer attempting to copy satoshi's shroud of anonymity, idea of a public ledger,  etc.
Being "original" is genius. Being "different" is NOT genius.
Keep in mind that Satoshi created BTC to take power away from the 1% on wall street  n give it back to the 99% on Main Street while BCnext created Nxt for personal financial gains. Keep in mind that there is nothing wrong with doing some thing for personal financial gains but I would hesitate to compare or place an unproven coder on the genius level of Satoshi.
I invested in Nxt because it was the first copy cat coin to make an attempt to come up with its own source code instead of being lazy n copying Satoshi's code. Is it possible that BCnext is another genius like Satoshi?  Of course its possible... I hope BCnext is able to produce the code that he claims n provide proof of his genius. .. Until there is proof... BCnext is just another wanna be copy cat... once proof is clearly available. .. I will be the first to promote the genius of BCnext's.

It takes a historical perspective to know what kind of contributions BCNext would make so I agree that at this point over-hype is premature. But in my personal observations, he has shown some signs of a genius in the making in some levels. There are technical innovations such as POS, transparent forging, however what I see the most valuable in his works is a coherent vision of what a decentralized network could be. It's similar to the way Steve Job designs the first Iphone. There are technical improvements compared to earlier smartphones in the first Iphone, but much more important innovation is the way everything is brought together to define what a smartphone should be. NXT decentralized network could be the same. It will succeed not on a specific feature but on the way all the different features are bought together in a coherent framework; plus all that hi-techs are accompanied with strong message of decentralization and community involvement. That the whole package together imho is the novel contribution.    
Satoshi has paved the way with his blockchain original idea. But without a written evidences, I doubt Satoshi has such a strong vision of how a decentralized network based on blockchain technology could be. So in a sense, BCNext extends Satoshi's original idea.
We still need to wait for the actual implementation of NXT decentralized network and there are still much uncertainty ahead. But the only reason I has devoted so much my time to this venture is because I has a conviction in my above judgement. I believe in NXT success and the validation of BCNext's ideas.

Friday, January 17, 2014

Nxt Myths 2: The unfair distribution of Nxt

Q: „Do you think the unequal distribution of bitcoin / big gains of early adopters / will be a deterrent in a more widespread adoption of bitcoins?“
A: „No. Early adopters get bigger gains (as they should) because they take on bigger risk. A bitcoin can be divided into 100 million pieces, so I don't see divisibility or distribution as a problem.“
Cameron Winklevoss
The distribution of Nxt has many phases:

  •        Original IPO (1 NXT = 2 Satoshi)
  •        First week (1 NXT = 100 Satoshi)
  •        Second week (1 NXT = 400-2000 Satoshi) - first exchange
  •        Next month (1 NXT = 3000-6000 Satoshi) - aliases
  •        February (?) – distributed exchanges, stock exchanges (?)
  •        March (?) – transparent forging (?)
  •        April (?) – colored coins (?)

    The distribution of NXT is very fair because it still continues. Now it isn’t in hand of one man, but it is a community effort. BCNext gave us a long time to get on the train. 

    If all coins are in existence already, doesn't this make the original holders of Nxt very wealthy? 

     Potentially. The original stakeholders of Nxt all made an investment of Bitcoin to seed their holdings, however, with no promise of any kind of success or return on investment.[1] In order to get more users they started to sell their stakes in undervalued prices and also they spent tenths of millions on bounties or giveaways. And BTW – who are original stakeholders? These who paid 2 Satoshi? Or 100? Or 400? 
    Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
    BCNext: “This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.”

    Why was the launch of Nxt speeded?

    Come-from-Beyond: „BCNext explained why he speeded up the launch. He wants the stake holders to make all important decisions“.[1]
    BCNext: “I wanted Nxt to be launched by the community, not by a single person.  Success of Nxt is supposed to be achieved by work of a LOT of PEOPLE.”[2]
    Let’s think for a while. When did Nxt really launch? Was it really in the day when the Billion NXT was transferred from the Genesis account to the original stakeholders? The IPO had been running for weeks in November 2013. In first days NXT cost 100 Satoshi. In first weeks of the December the price of Nxt was still about 400 Satoshi. Then 1500, 2000, 4000 before Christmas and if we don’t count the first bubble, we came back to the original 4000 in the middle of the January. But still – we have really bad client. Nxt is not yet traded in any of the big exchanges. There are many features – already programmed and tested – but they still weren’t implemented why?
    Because we are still in a Beta. The launch wasn’t in November 24, it wasn’t in January 3, it will be in February/April. We all - 15.000 Nxt users - are beta original stakeholders. The distribution of NXT is extremely fair. The IPO still continues. We haven't launched yet. We can forget about some 73 stakeholders... Now everyone has an opportunity to jump on the train... and also to drive him! Why Nxt doesn’t use all features now? Because CBNext’s plan is to bring as many as possible users before the real Nxt will be released. Then we will have – more users, more features, all source code, but most important – this launch will be leaded by all Nxt community. This will be made by decisions of stakeholders. The success of Nxt is now supposed to be achieved by Nxt community, not BCNext.

    What happened with the 21 Bitcoins?

    Bitcoins were required to determine how to split the stake among founders. That's why BCNext asked for tiny amounts. These bitcoins were used to fund development but they covered only part of expenses. When people talk about Nxt IPO they forget about this important detail.[3] 21 Bitcoins were used as a token amount. They didn’t represent any real world development costs.[4]
    How is NXT distributed?

28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
vs: Bitcoin
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x
20.7%: 98.928% : 19786x

Thursday, January 16, 2014

NxtMyths 1. Nxt is not a scam, it wasn’t created by anonymous developers

  • Nxt was invented by anonymous programmer. 
  • Nxt’s source code is being reviewed by known developers. 
  • New code implementations will be approved by democratic voting.

Nxt was invented by BCNext, who is a programmer at the age of 35+, who lives in Europe.[1] He is a veteran member of Bitcointalk forum, but he stays anonymous like Satoshi Nakamoto.[2] He can still reveal his identity, as he promised.[3] BCNext prefers to work on creating the project alone. He paid a team of core developers to help him with the client and create some functionalities like decentralized exchanges. One member of the core development team Come-from-Beyond was paid by BCNext to work on Nxt from October 2013 till April 2014.[4] Come-from-Beyond is a 34 years old programmer from Minsk in Belarus.[5]
On January 2014 joined Jean-Luc a core team as a non-paid programmer.[6] He has a Phd, probably comes from Switzerland (or France) and already celebrated his 30th birthday.[7] Jean-Luc’s duty is to work on the code. Jean owns nice amount of NXT, that's why he is programming for free, for the benefit of his own investment. BCNext was only an inventor, others will continue on his legacy and rewrite his ideas into a better looking Java codes.
After the release of the source code started many developers with code corrections. A few Greek IT experts from Thessaloniki and Athens are being paid for reviewing the code by the original stakeholder Klee who is managing them.[8] Klee spent a huge part of his Nxt on donations, bounties and giveaways.[9] He doesn’t hide his real identity, so he is moderating Facebook group Ubiquitous Cryptocurrencies under his real name.[10] The names of his team were also revealed. There were only 8 original stakeholders who paid 1 Bitcoin during open IPO.[11] Each of them got 50 million NXT, Klee is one of them. In January 2014 only 4 of these 8 original stakeholders own more than 30 million NXT.[12]
There are at least seven developers who are working on the Nxt’s applications fulltime: Abuelau, ferment, nexern, NxtChg and Graviton with his assistant, who helps him with the biggest Nxt exchange. This list isn't finite, there are many new Nxt developers, like Marcus03 or wesleyh with their fantastic apps. There are tenths of helpers, translators, authors of articles, but people who said that they “work” for Nxt fulltime or at least halftime are: Joefox, Opticalcarrier, Pinarello and Salsacz.
500 different people had already been discussing at the main Nxt thread in Bitcointalk.[13] Once there were 93 active nicks in last 3 days. In the middle of January they reached 20.000 posts at the page of 1000. The statistic from the end of 2013 shows the biggest spammers of the Bitcointalk topic: Come-from-Beyond (2005), laowai80 (460), klee (324), smaragda (304) and opticalcarrier (211). 15.000 people own Nxt account, this number rises by 200-400 every day.[14] 500 users own more than 100.000 NXT, 2.000 stakeholders own more than 1000 NXT.[15]
Nxt network of peers has got members from all over the world. Most people come from the United States, but there is also a big community in Germany, Hong Kong, Russia, United Kingdom, Japan and Netherlands. There is one user from Iceland, Jamaica, Panama, Ethiopia or Israel.[16] Some of the Nxt Wiki pages have already been translated into 11 languages.[17]
Nxt is still a small group of individuals who have no centralized place. Nxt is a decentralized currency, that’s why there are more Nxt forums, exchanges, sites, social media profiles and also marketing groups. There will never be any main leader. All decisions in Nxt will be based on democratic voting.

Questions for BCNext:
January 2014:
Q:  Why was the initial funding cancelled suddenly with few people?
A:  I wanted Nxt to be launched by the community, not by a single person.  Success of Nxt is supposed to be achieved by work of a LOT of PEOPLE.
Q:  How would you solve problem with scam accusations according to "unfair" distribution Nxt to 73 big stakeholders?
A:  This problem can not be solved.  Even if we had a million stakeholders the rest seven billion people would call this unfair.  A world with the money can not be perfect.
Q:  What are the most important 5 things the community should do, in order to properly support Nxt in the next 6 months?
A:  Review all my ideas, they might be flawed.  Avoid centralization.  Do not pay much attention to the price of 1 NXT measured in fiat money.  Remember that half-measures is a way to nowhere.  Do not trust strangers on the Internet, especially if their nickname is "BCNext".

November 2013:
Q: how many bitcoins are you going to contribute? (are you going to keep the coins you contributed yourself?  or you will take a creator cut (certain %)
A: I don't know how much I will contribute.  This depends on the price of Bitcoin and some other factors.  These bitcoins, like the others, will be used to pay bounties for development.  No creator cut.
BCNext’s citations:
A lot of time was spent on talking, the outcome did not satisfied me.  That is why now I am working alone.  The things are implemented much faster this way.[18]

What others said about BCNext:
 „I don't think BCNext is interested in money. He spent more than he raised funds.“[19]
„With all my respect to BCNext, he is too paranoic about FBI/aliens/illuminati, they r not interested in kidnapping of yet-another-cryptocoin creator. I believe that was (unsuccessful) PR attempt. Fortunatelly, we don't need him after the launch.“[20]

What is BCNext?
Next is next.
Salsa also thinks that „BC“ comes from the Proof of Stake article and referrs to „Beyond Cryptocurrency“.

What else do we know about BCNext?
He often uses special phrase „can not”. He is a genius who doesn’t care about money or glory.

BCNexts likes symbols:
Now we know about 3 symbolic numbers hidden in the world of Nxt:
-       3 January – the release of Nxt happened 5 years after the release of Bitcoin.
-       21 Bitcoins – The IPO was stopped in the time when were gathered 21 Bitcoins, i tis 1/1000.000 of the all existing Bitcoins from now on.
-       Anonymous BCNext – BCNext plays the same role as Satoshi Nakamoto. We don’t know who they are.

[1] This guess is based on assembler style in the code (Come-from-Beyond: „I noticed the same things, the code is written in back-to-90s style. The author definitely used to code in Assembler. and the statistics of the posts of BCNext:;u=152600;sa=statPanel.
[4]„I'm that guy who is developing the client, so I will publish updates until BCNext is back. If I disappear one of the 2 remaining guys will continue the work until Nxt is released as planned.“ „One of my employe is developing Nxt client.“
[5] On the Chess site he also filled a Birthday, but since i tis January 1, it is probably fake due to the quick registration process
[7] Some people say Jean-Luc uses french accent in his english, someone saw a new client in the peer list from the Switzerland, he used a CET in his signature. CET referrs to the timezone in the central Europe – from Spain to Slovakia. He also used a russian email, but they don’t use CET in Russia or Belarus.The information about Phd and age got author of this text by personal message from Jean-Luc.
[11] The list of original stakeholders is hardcoded to the sourcecode. More in the chapter 3 or: Salsacz, Where is Nxt from Original Stakeholders?, in:
[12] Ibidem.
[13] The statistics from the next lines are based on this citation created by newcn.
[15] Originally based on the numbers from marcus03’s client
[16] Bulgaria(1), Canada(2), China(2), Czech Republic(4), France(6), Germany(22), Hong Kong(20), Hungary(1), Iceland(1), Israel(1), Japan(12), Latvia(1), Lithuania(3), Luxembourg(1), Netherlands(7), Norway(3), Poland(1), Russia(21), Slovak Republic(1), Slovenia(1), Spain(2), Switzerland(2), Ukraine(5), United Kingdom(18), United States(177), Map:

How Nxt changed our Lives 1) Neonemu and his dog

I am here, hoping to share my success story from NXT.  I’m hoping it might inspire some people, and I hope it might help bring the community closer together; even boost the morale some.

-  Thank you people.

Firstly I would like to thank ByBitCoin –without whom, none of this would have been possible.  Thank you for the opportunity to buy in so early.
Secondly, I would like to thank C-F-B, and BCNext for obvious reasons.
Thirdly, I would like to thank GCInc.  While some people do not appreciate his services, I am very much in his debt.  It’s because of his services, time, and his risk, that I was able to even share the following story.
Lastly, I would like to thank those that purchased the NXT from me from Dgex.  I am so thankful, both that you were able to also buy in at cheaper prices, and that I was able to shuffle some of the early wealth around.

Invest, wait, ? , profit.

So what is this story that I have to share?  I would like to tell you about my dog Charlie.  I met Charlie 4 years ago when he was a baby pup.  Since that time Charlie and I have only been apart for two days.  We used to go swimming and running (and walking) in the summer, and hiking in the spring, winter, and fall.  Needless to say, Charlie is and has been my best friend.
In July, Charlie was attacked by a pitt bull while we were walking through our neighborhood.  Charlie’s neck was torn open and thankfully, the dog didn’t get his jugular.  Charlie lived, the owner paid for the initial bills.  However, a few weeks later my dog started to have a limp.  I took him to the Veterinarian, over, and over, during the next few months and his limp didn’t improve—it kept getting worse.  I spent over $1,500 to eventually get the diagnosis that, “Charlie has to see a specialist, I suspect he tore his cruciate ligament.”

(This is Charlie as a puppy).

To me, this is a HUGE amount of money so far.  I work IT for roughly $15 an hour.  It’s full time, but I don’t get benefits, and honestly between student loans, my apartment, and Charlie, I eat Ramen most days of the week.  I was thankful enough to have scrounged up 1BTC in the past year through LiteCoin mining.

Back to the story!  So, I took Charlie to a specialist and was told that his left knee definitely had a torn cruciate ligament.  The surgery was expensive, roughly $2290, and Charlie would never be at 100% again.  The best I could hope for is 90% mobility. Sadly, he can never fetch a tennis ball again, according to the Veterinarian.  I would like to say that was the ‘kicker,’ but, honestly, the worst part is that he has a 25-50% chance of his other knee going.

(Here's Charlie all grown up)!

So how does this involve NXT you ask?  Well, I was lucky enough to catch some of the very early NXT sales from the founders.  I was able to take my BTC and buy 1,600,000NXT.  I asked for 1.5M and ByBitCoin was so kind as to give me an extra 100K.  This all happened well before the dreaded specialist visit.  By the time that I got the news and had to schedule the appointment, I had to come up with that money ASAP.  After talking to my local tax professional and figuring out how much I had to set aside for capital gains taxes.  I transferred about 400K NXT to dgex over the next few weeks.    I was able to sell my NXT (though not at the price I would have liked), and was able to cash out my BTC.  GCInc. Was spectacular during this time—he was responsive to all my messages and was able to kindly help me get my money in and out within a very fast amount of time.  So there I was, a few hundred thousand NXT lighter, my dreams of paying off my student loans gone, but my dog had the money for his surgery.

Yesterday came, Charlie had TTA his surgery, and was home today by 5pm.    He’s a bit doped up, and he’s in pain, but it’s hopeful that he will recover well.

(Charlie Post-Op).

Thank you to everyone for supporting this community.  It has helped me keep my best friend in the best health I can keep him in.  And I suppose, what I would really like to say, and what I really mean by this is that for some... NXT isn't just about making money, it isn't about revolutionizing how things are.  To some of us, NXT is a dream, or a hope, to be able to take care of those closest to us.  To be able to support those things that matter most to us.

Wednesday, January 15, 2014

NXT volume history

Here are some new statistics:

289 million Nxt is owned by: 7 accounts
215 million Nxt is owned by: 14 accounts
248 million Nxt is owned by: 55 accounts
200 million Nxt is owned by: 14.000 accounts
Lost: NXT 15.000.000 (+-)

28.9% is owned by 0.07%
21.5% is owned by  0.14%  : 2x
24.8% is owned by  0.55%  : 7.9x
20.7% is owned by  99.76% : 1425x
28.9%: 0.005%
21.5%: 0.087%  : 17.4x
24.8%: 0.98%    : 196x

20.7%: 98.928% : 19786x

And now to the transfers:
If I don't count Genesis transfers, in 52 days were transferred: 2.25  Billion NXT

In the middle of the December bought 2 guys millions of Nxt. Price of NXT got from 4.000 Satoshi to 8000, people noticed Nxt in Coinmarket, they started to buy it too, they saw it on the nr. 4-5 with +100%. So the price got to the 12.000 Satoshi. Those were the days when we reached 220 and then 708 new accounts with trades, first time in Nxt history.

Then price came back to the 4.000 Satoshi. You can see some big blue mountains - but do not bother with them. Those are only bounties paid by Bybitcoin (New Year) and rewards from the unclaimed coins (middle January).

But you can notice - DGEX is still quite small...

Friday, January 10, 2014

Where is Nxt from Original Stakeholders?

I am gathering a lot of statistics for the nxtmyths video. I had to prepare this alone and only with blockchain explorer, because I had to check each account one by one. Did he sell all his money? Or only a part? Did he move?

All statistics are here:

For now I checked only first 23 stakeholders, 22 of them received more than 10 Millions, there are only 8 Stakeholders who received 50 Millions for their Bitcoin.

If I look only at top 8, they started with 400 Millions, now they own 250 Millions. I am pretty sure at least half of them belong to the core developers. It is a good sign, because these people won't ruin Nxt :)

If I look at other 14 Stakeholders, they owned 350 Millions. Now they have 90-150 Millions! There were some big trades so I wasn't sure if it was a trade or only a transfer to the new account, but I am sure about max number!

If I look at all richest 23 stakeholders, it's: 750 Millions on 24 November 2013. And now: 345-450 Millions on 10 January 2014.

If I look at 23 richest original stakeholders, they owned 75% of all Nxt in the first day, but now they own only 34-45%. 300-400 Millions had already been sold to the new users in 6 weeks.

Wednesday, January 8, 2014

Nxt: the most decentralized crypto p2p currency (by: Jimmy2011)

As the creator BCNext expected, Nxt will be the most decentralized crypto p2p currency, which is and will be always developed in a decentralized way. No other cryptocurrencies have so many different clients including java version, native client, android and iOS client like Nxt, and there are so many developers even at the early stage. In a p2p decentralized way, no client, no website, no exchange is official. 

Be a long term investment, don't expect to be a millionaire over a night. Be patient. The present development state and the market is benificial to the wealth distribution. Don't just have an eye on those 73 accounts. Everyone has opportunity at any time.

Not only invest money, do invest your work. The work values. I don't have so many development skills, but I do catch up all the posts in several threads related to Nxt every day, and also I'm trying to work on something in my way.


Tuesday, January 7, 2014

Giveaway cheater

There is a cheater who already received 35.000 Nxt from the mysterious donator "16316011654851434145". Owner of this account is anonymous, he already gave 438,220 Nxt to people, he always gives 500 Nxt. I wonder, how many of them received this kind gift more than one times. This guy got it 70x. +

Total stolen Nxt by cheating in giveaways: 35.000 NXT = 70 accounts used in

current account ID: 17584795580447734780
Account used for DGEX: 16316011654851434145
Gathering acc ID:
Final acc: 17584795580447734780
Stolen: 5,528

Main nicks: qqazx, Ranmorhipo
country: China
qqazx: We should leave dgex . It's dying.
Ranmorhipo: According to the Blockchain Explorer, the top 60 accounts have 796,985,499 coins(almost 80% of the total). And the the top 24 accounts (which have more than 10 mill) have 569,891,719 coins(56.9% of the total). I observed some of the top accounts of the coins has increase (such as some  accounts have more than 50 mill coins). It‘s definitely not a positive development for NXT. The greedy will destroy NXT. I don't think this coin will success if any accounts have more than 10 mill coins. The initial distribution is sucks. The price will not up too much unless the coin more dispersed.

Much appreciated.

Happy new year.

Thanks! :)

Please help me to start!
happy new year.


start nxt.
Happy new year!


Thanks ;D

Thanks ;)


- 16380679895180924458
Please send some.

Thanks ;D
Happy new year!

Stolen: 16.000 Nxt
Gathering acc:
Final acc: 4885957642146709487
Account used for DGEX: 12965503918671719412 + 7409308104741615177

Stolen: 15.500 Nxt
Gathering acc:
Final acc: 6510198331066588689

Sunday, January 5, 2014

NXT Official Launch ­ NXT Generation of Cryptocurrency Begins Now

January 03, 2014 ­ Being the first of its kind, NXT breaks alt coin history by being 100% new Proof of Stake (PoS) code, 100% green, completely decentralized, and fast. NXT offers cutting edge features such as Instant transaction confirmations, decentralized DNS/Trading, and Transparent Mining.

Read Pres release:

Why NXT ought to be taken seriously (by: Anon136)

Satoshi's discovery is often thought of as simply money over IP but the scope of his discovery is much wider than this - his legacy much greater. Sometimes, it is important in a network to be able to achieve consensus. Other times, it is important in a network to be able to avoid centralized points of weakness. Individually these problems are solved relatively easily. However computer scientists found it more challenging to describe a method for allowing both of these qualities to be achieved simultaneously. This is Satoshi's true legacy, not money over IP specifically, but how to achieve a consensus in a decentralized network. The difficulty of the problem results from the fact that in a decentralized network no two distinct perspectives can ever be expected to witness the same picture of the state of the network. It's not even a question of right verses wrong, they are both correct, but different. Satoshi's solution was to use something called a block-chain to house a consensus record, and proof of work as a fair means of determining whose perspective the official record should be a reflection of.

Nxt offers a slightly different solution to this same problem. It, too, uses a blockchain to house the consensus record. However, it solves the problem of determining whose perspective the consensus record should be a reflection of differently. NXT uses proof of stake rather than proof of work. In a proof of stake scheme, one demonstrates their administrative capacity over a particular quantity of a digital asset in-order to gain the right to author a block. However unlike its predecessor Peercoin, NXT introduces the idea of randomness in the selection of which stake holder has the right to author a block. Think of it like the number of coins you administer being analogous to the MHash/second that you would have in a proof of work crypto. Or, another way to think of it, as each unit of currency being an entry into a lottery where the winning lottery ticket is selected at random

Read the rest of the article:

Wednesday, January 1, 2014

What is the monetary value and future of the Nxt alias system? (by: utopianfuture)


Nxt alias system allows one piece of text to be substituted for another, so that keywords or keyphrases
can be used to represent other things – names, telephone numbers, physical addresses, web sites, account numbers, email addresses, product SKU codes... almost anything you can think of. (quote Nxt Wiki)

To me Nxt alias system can be used in a number of ways

Firstly, it could be used to name your account. So when a person want to send you Nxt, you may not need to tell him your full account number, you just need to let him know your cool alias for that account
This feature can be incorporated into the Nxt soft client when we have a full feature Nxt client.
Furthermore when the Nxt messaging system being implemented, you can send secure arbitrary text directly to other aliases.

Secondly, potentially more interesting use is that the Nxt alias system can act as a gateway to the Internet.
In the future instead of typing into the browser, you can type nxt:google and it could lead you to the google search engine if the owner of google alias decides to point the destination of google alias to
google homepage. Being a gateway to Internet could bring a lot of value to the Nxt alias system.
Here are five 5 ways a Nxt alias can have a monetary value I can think of:

1. Nxt alias could be an easy gateway to a more obscure website in Internet. Good domain names in Internet
aren't cheap. If you want to own, it would cost you 16 millions. There are more than 50 domain names that cost more than 1 millions dollar and if you want a just decent domain for your business, expect to spend at least several thousand on it. Now you could have a very nice Nxt alias for 1 Nxt such as BeefJerky.
This Nxt alias could lead directly to your Furthermore, Nxt users searching
for beef jerky would be more likely to search and stumble upon your alias and going to your beefjerky website.

2. Nxt alias could have a value since you own the right to produce information for that particular alias.
For example, if you own the alias ObamaCare. You could auction that alias and there are at least two group
of people: supporters and distractors of ObamaCare who want to control that alias so they can produce different type of information for the destination of alias ObamaCare. Similarly if you own google alias, there is a non-zero chance google would like to buy that alias from you in the future because google don't want people to see all kind of bull you can put there when people type nxt:google in the browser.

3.  I believe nxt alias could have collectible value. People do hunting, trading for exotic stamp, baseball cards, magic gathering etc. Wouldn't it be nice to have an Batman alias ? I think so. I think people
would pay to have a nice and desirable aliases perhaps for a bragging right or for speculation. And again you control the right to put information into the alias, so the collectible value is definitely there.

4.  alias could be used to express personal identity or personal business. As to be used in naming your account or to point it to your personal picture, telephone. Some some simple aliases such as SweetJenny could have a value as such. Perhaps, it would not be 10000$ alias, but there is a value there.

5. a small case can be made to incorporate Nxt payment into some aliases. For example if you own
the alias Amazon, you can create a payment system so that if users who want to shop at Amazon and pay in Nxt could go to your nxt:amazon and do that. Similarly for ebay, target etc.,

So I definitely think Nxt alias system is very interesting feature and Nxt alias market will be booming
when the alias transfer function is implemented. At this time you cannot do much with your Nxt aliases. You can't really go to your browser typing nxt:news and expect to see something. It will come gradually. At first the alias destination will be accessed via Nxt client. Then plugins for popular browsers such as Chrome, Firefox, Internet Explorer will be introduced so that you can type nxt:news directly there. At the last step, when Nxt network become popular. These browser could incorporate these plugins natively so even the least tech savvy person can still access Nxt alias system. At this point an nice Nxt alias could fetch a huge value. I would expect some of the most expensive ones reaching the range of 10000$.