NXT Newsletter #7

Welcome NXTers, newcomers and long time community members.

Turing complete, more secure than cold storage, nodes forging for Nxt on solar cells and Raspberry Pi.
This week we also got a new forum, and a global corporate design proposal. What it all sum up to? … Nxt.


This week’s topics:

  • New forum
  • Encrypted chat
  • The fatal flaw
  • Nxt global corporate design
  • Conferences
  • Client updates
  • Misc.
  • BCNext, plan 3
  • Quote of the week
  • Words of wisdom of the week

New forum

Visit: https://nxtforum.org

So, how are things going on in a decentralized community, like Nxt’s?

Sebastien256, on March 22, 2014, 03:05:18 PM:

Nxt is in dared need of a 100% trust forum.

wesleyh, on March 22, 2014, 03:13:40 PM:

I’m setting one up now and if opticalcarrier agrees it can be the new forums.nxtcrypto.org.

lucky88888, on March 24, 2014, 12:11:30 PM:

omg we are moving!

jl777, on March 24, 2014, 06:23:28 PM:

I dont remember agreeing to moving. It is easier for me to follow a linear thread.

Come-from-Beyond, on March 24, 2014, 06:56:15 PM:

Do u always go to the same pub? I prefer to visit them all during a night.  🙂

utopianfuture, on March 25, 2014, 02:22:44 PM:

https://nxtforum.org now works

Emule, on March 26, 2014, 08:11:05 AM:

we shall see WHO has the power!
nxt is so weak and in dead strugle
one little push and it is of the cliff and the charts for good

Emule, on March 26, 2014, 08:59:23 AM:

i have every right to be here, i am a trader! maybe the only one here left, i make money of nxt

Emule, on March 26, 2014, 09:16:05 AM:

i am performing an 99% attack

Emule, on March 26, 2014, 09:28:55 AM:

tabula rasa!






BCNext:   – What the hell is this guy doing?
CFB:   – Maybe training how to give a bl*wj*b? Huh

Better join the Nxt movement @ https://nxtforum.org

Encrypted chat

Offspring 0.4.1. New feature:

  • Blockchain based Secure Encrypted Messaging.
  • Reply to other messages, and they show up in Offspring like a thread/tree, it’s a bit like Reddit.
  • Offspring supports group chat too. You can use any account number as the central account for your group chat.

Offspring is a standalone, multi platform Nxt client (works on Linux, Mac, Windows), and it’s open source.

Download: https://github.com/incentivetoken/offspring
[ANN] thread: https://nextcoin.org/index.php/topic,4525.0.html

The fatal flaw was found


Nxt source code was released on 03.01.2014 with 3 flaws intentionally injected by BCNext.
The 1st person to find and report these flaws were promised to get a 1’000, 10’000 or 100’000 NXT reward.

This week the last flaw – the fatal flaw – was found, after 3 months and 20 days.
Evil-Knievel  identified it: https://bitcointalk.org/index.php?topic=397183.msg5842463#msg5842463

Nxt global corporate design



Ideenfrische has started working on a design to get our visual appearance together:

The Main idea is to be the one and only cryptocurrency with a professional global brand. The Logo is strong enough to show without the text. I think most people like clean design and loves dark and white colors. Doesn’t matter if he/she is a housewife or a scientist.


I know that NXT is more than a cryptocurrency, we know it, because we are nerds. But to catch a normal mind, to catch the critical mass, you must eyecatch the basic, the easy thing. The money. Not by Colored coins, asset exchange, dark material & worm holes. Not everybody would love it, but one Design over all is the priority and it is more important to Overall with a (maybe ugly) design in one and only Brand than inconsistent on every piece of things

Join the discussion, see the work in progress: https://nxtforum.org/nxt-promotion/a-global-corporate-design/


Coin summit

Nxtminnow represented Nxt live on stage and http://livestream.coinsumm.it/


Thanks for the opportunity to represent the growing Nxt decentralized community. (…)


Adam B. Levine is a great moderator, David Johnston is a true pioneer of decentralized applications, Vitalik Buterin described how Java has enabled the Internet, and I was on a panel that collectively represented 9 years of cryptocurrency development. We are all Satoshi Nakamoto! Keep up the hard work Nxt community!


I have met with lawyers, insurance agents, compliance specialists, angel investors, reporters, engineers, and developers. Many people are very interested in the capabilities of the Nxt ecosystem. Many people heard about Nxt for the first time today! Good night!

See the debate here:

Texas Bitcoin Conference

Tai Zen talked to Vitalik Buterin about Ethereum and NXT:


Nxt Speakers wanted


Damelon (MC):

We need people who are willing and able to talk on single topics, Nxt in general and who can sit on panels. These need not necessarily be the same people! Some people can do very well on prepared topics, but don’t like to sit on panels where questions can be sprung on you. We will not let you go without any backup. We should aim to help any speaker to the best of our abilities and I’d like to set up a structure for that, so you can get the info and knowledge and skills you need.


Let’s work on this together!


Automated transactions

The code is completed.


Is NXT worth 30M at the moment, yes.

Will NXT be worth 500M in a year? I don’t doubt it for a fucking second, I am reviewing CIYAMS complete AT code and I can tell you this is just the beginning.

AT is a “Turing complete” method of executing code to do useful things 😉
[ANN] thread is here: https://bitcointalk.org/index.php?topic=463731.0. Also see  previous newsletters.

intmain(), on March 24, 2014, 04:30:33 AM:

My bitbucket account has been hacked, all my project files are gone… I still have eclipse backups though.

Someone is trying to hurt NXT…

Nxt Phaser

Phaser splits processing of transactions into phases. Sorry, I’m not a native English speaking person, so I just added “er” to “phase”. 🙂  This feature will make obsolete cold storage, escrow and few other things. Phaser includes Account Control. This is a big step to true decentralization.
[vimeo url=”http://vimeo.com/90369265″ title=”0″ portrait=”0″]


Raspi solar setups

Tom Waits:

What’s he building in there?



Hey community, I have some parts arriving the next days to build 5 RasPI-Solar Nodes. Pls remember, the RasPI is a dev board, also is my RasPI-Solar setup! It is not a customer product!


Price will be ~200€  had no time to calculate correctly. Marketing people that need one for the conferences will be prioritized. 1 Order already accepted! For Amsterdam conference. If you are interested, pls send me a PM. If I accept your order, I will PM you back. If you need everything setup like Raspian, latest NRS and Wlan configured, it will cost some NXT extra. 😉


Nxt nodes can be run on Raspberry Pi’s, so you don’t have to pay a cent in the summertime.

Eberon’s post: https://bitcointalk.org/index.php?topic=345619.msg5866213#msg5866213
Raspi comparison: https://bitcointalk.org/index.php?topic=345619.msg5846308#msg5846308

[EDIT 2/4/14]: Posted by Eberon on the MegaThread: Price now calculated! raspi-solar_NXT_node.pdf

Mynxt.info investment opportunity


abuelau, on April 01, 2014, 02:53:35 pm:

Everyone that contacted me and demonstrated interest in investing has received a copy of the prospectus and is able to bid to purchase shares (minimum bid of 100,000 Nxt). If you want to bid and didn’t receive the prospectus, please PM me.


Nxt Asset Exchange


Added a comment field to the Asset Transfer transaction type, up to 1000 chars.


Lots of discussion has been going on about having unique/not unique asset names.
The discussion has moved to: https://nxtforum.org/asset-exchange/asset-exchange-naming-issue/

JL stepped out of the Tec-Dev Committee


Bitcoin summaries

After 70 days,  Damelon has stopped his daily summaries from the Nxt bitcointalk MegaThread.

Now we are going just gently crazy in our new forums, which can be found at nxtforum.org. Our developers have largely made the move to this new forums, too, and so it should be much easier to find what you are looking for.

I hope you all have found use in [the summaries] and that they have helped keep order amidst the chaos that can be part of a decentralised community and that they have contributed to the more timely development of Nxt in some way.

Yes they have, Damelon! Thank you!  http://www.nxtcoins.nl/bitcoinsummaries-stopping-forum/


Mining Nxt


Hashrate.org had a facelift.
And the statistics: To this date 54.903 NXT has been paid out to 109 miners. Congrats!

Yes, you can “mine” for Nxt, the 100% PoS crypto.

Sebastien256’s How-to for starters: http://test.nxter.org/how-nxt-mining-works/
And you can follow the original nxt mining thread at https://nextcoin.org/index.php/topic,4399.135.html

IRC chat

We have 2 channels:
IRC chat for Nxt in general: #nxtalk
IRC chat for nxtpool.net / hashrate.org: #nxtpool

Use your local IRC client to join the community, or go to:  http://test.nxter.org/nxtalk

DGEX shares

DGEX share dividends are being cashed out. The NXT / DGEX shares trading pair is available for public trading in the customer account area of Dgex.com. Read more: https://nextcoin.org/index.php/topic,4436.0.html

The math of Nxt forging

By mthcl: Version 0.4.1: http://www.docdroid.net/ahms/forging0-4-1.pdf.html
Read more: https://bitcointalk.org/index.php?topic=345619.msg5822741#msg5822741

Add to the wiki

Joefox wants as many people to add to the Nxt Wiki as possible.

BCNext’s plan, part 3

Genesis account / BCNext / George Orwell, 1984:

It was a bright cold day in April, and the clocks were striking thirteen.

BCNext has sent the final part of his plan/wishes for Nxt to Come-from-Beyond.


Anybody interested in understanding the motivations and rationale of BCNext:

Read the first 2 parts here:

1: Transparent mining, or What makes Nxt a 2nd generation currency
2: Transparent mining 2, or What part of Legacy should be left behind

And here it is:

3. Transparent mining 3, or What way to choose

BCNext (through CfB):

Bitcoin was a genious invention but implementation became corrupted by people whose aim was to make money, not bitcoins but dollars. BCNext was working on a project that required special conditions for its existence, he hoped that Bitcoin would change the society and prepare ground for the project. Half a year ago it became crystal clear for him that Bitcoin, as an idea of trustless money, had failed. A fix was required and it came in the form of Transparent Mining. “Transparent” is the key word here, it changes focus from “trust no one” to “don’t let to cheat”, because any cheating becomes obvious very soon (as soon as allowed by network latency). Nxt is just a work-around, it was launched to win more time and to conduct an experiment that was supposed to show if the society is ready for the main project of BCNext. He thinks that society can’t be completely decentralized, and Nxt will let to measure level of decentralization after which a society can’t function as a whole. Bitcoin relies only on math, but math can’t solve problems arising because of illogical nature of the man. Mining in Nxt relies on cooperation of people and even forces it. Without cooperation Nxt becomes weak and can be easily attacked. It’s like a system in unstable equilibrium, if people stop to care about cooperation then Nxt will fail very fast.

Now, when you know why Nxt was created your should choose what way to follow. The easiest one is to repeat the history of Bitcoin in hope that something will change. The alternative is to implement Transparent Mining and try to handle people imperfection. The latter can’t be done with pure math and even if you manage to find some laws you can’t be sure that these laws won’t change in the future. BCNext went for good, he doesn’t feel himself responsible for the future of Nxt, he implemented an idea that was obvious but noone tried to do it (maybe because creation of a Bitcoin clone was much easier). One day he will come back with his main project under his real name. Don’t try to find real identity of BCNext, he intentionally copied style and ideas of different people, if you think you found him then you are likely wrong. BCNext has never existed, this sockpuppet was created only for Nxt and will never appear again.


The plan always was very simple – to show the way that very obvious but avoided for some reason. BCNext doesn’t pretend that he possesses sacral knowledge and knows what is awaiting in the end. You are left on your own. Good luck.


Quote of the week


Remember: There’s no crying in NXT!


Words of wisdom of the week


don’t understand why the main attention currently circling just around prices instead functionality. price action at this stage means nothing and only usable functionality can and will lift prices within next time in a stable manner.

i think nxt should concentrate much more on this and especially communicate a direct comparison, visualized with a comparison/feature matrix. just have a look at this list:


– Decentralized Alias System / DNS
– Basic DDoS Protection:
– Decentralized Asset Exchange / Colored Coins
– Transparent Mining / Forging
– Arbitrary Messaging
– Instant Transactions
– Decentralized Marketplace / Auction
– Distributed Storage
– Blockchain Shrinking
– Phasing (Two-phase Payments/Multi-signatures)
– Voting System
– Reputation System / Judgement System
– Decentralized Mixing Service
– Distributed Computing
– Smart Contracts
– Hardware Wallets
– Advanced DDoS Protection Project Kharo
– Client Application
– Client Web
– Autonomous Transactions


now imagine to add the 5 or 7 most important cryptos (btc/ltc/ethereum/master etc) into this feature matrix with two columns each. one columne for already built in core and the second one with already usable within clients. a green checkmark for already built in, a yellow for in dev and a grey for planned.

i bet if you visualize this comparison you can see nxt will rule because of it’s feature/time advantage over all other cryptos. while it’s true nxt haven’t all features in use yet this matrix will reveal the true functionality RELATION to other cryptos and the result will visualize this easy to grasp. no shy, let us compare in a fair manner and see the result!

And that’s it for this week…


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