paradigmflux



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Sr. MemberActivity: 378Merit: 250small fry Re: NXT :: descendant of Bitcoin - Updated Information March 16, 2014, 08:55:47 PM #44864 Quote from: paradigmflux on March 16, 2014, 06:13:44 PM hey all



I am accepting applications to help me with some closed beta testing on a new pool that I am in the midst of setting up. I hope to have the initial page up for the preliminary beta testers later today.



It is a mining pool that you can point your scrypt miners at, and use your NXT account ID as the worker name. The pool will mine the most profitable of (eventually all of the altcoins) but during beta it will likely only mine the most profitable out of a small sampling of 3-4 different alts.

The coins that are mined will be liquidated on exchanges twice a day, and all of the BTC that they bring in will be used to buy NXT on the same exchange that the coins were sold on (to eliminate fees and time spent transferring coins between exchanges)

The NXT that is purchased with the BTC that was mined will then be sent out to all of the miners, divided up by the percentage of the total shares that each miner contributed to the pool. There will be a 2.5% fee on the pool once it goes public (for the first 1 month) and afterwards the fee will drop to 2%. During the closed beta period the fee will be 1%. I have spent an enormous amount of time getting the various pieces to this all starting to work together, so I do not feel that it is an unfair fee amount. The fee will be retained by the pool in the form of NXT, 100% of the coins mined will be liquidated for BTC and 100% of the BTC that is obtained will be immediately used to purchase NXT.



This will:



a) drive the price of NXT up by continually infusing BTC into the ecosystem

b) allow people to use scrypt miners to increase their NXT holdings.



Please message me if you're interested in testing the closed beta - as a warning, there will be limited visibility into the stats during the first part of the beta, although I will be more than willing to be in an IRC channel with the testers while they test. Any coins that are mined will be liquidated and the NXT that they purchase will be distributed amongst the beta testers. I am hoping to start the closed beta testing tonight, although there is the possibility that it may have to wait until early this week.

--- Please include an approximate value for your hash rate if you're messaging about the closed beta testing. I would like to be able to keep the beta to a reasonable hash rate, so please no huge 300 card mining farms or anything yet ---



bump, sorry if this violates any thread rules or site etiquette. I have recieved only 6 PM's from people and a few of them were only CPU minerrs, I had been hoping for a bit larger of a closed beta. bump, sorry if this violates any thread rules or site etiquette. I have recieved only 6 PM's from people and a few of them were only CPU minerrs, I had been hoping for a bit larger of a closed beta.

NXT Multipool! Mine Scrypt, SHA, Keccak or X11 for NXT! http://hashrate.org

for port info! --- http://hashrate.org/getting_started for port info!

rlh



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Hero MemberActivity: 789Merit: 1001 Re: NXT :: descendant of Bitcoin - Updated Information March 16, 2014, 09:16:11 PM #44869 Quote from: paradigmflux on March 16, 2014, 06:13:44 PM hey all



I am accepting applications to help me with some closed beta testing on a new pool that I am in the midst of setting up. I hope to have the initial page up for the preliminary beta testers later today.



It is a mining pool that you can point your scrypt miners at, and use your NXT account ID as the worker name. The pool will mine the most profitable of (eventually all of the altcoins) but during beta it will likely only mine the most profitable out of a small sampling of 3-4 different alts.

The coins that are mined will be liquidated on exchanges twice a day, and all of the BTC that they bring in will be used to buy NXT on the same exchange that the coins were sold on (to eliminate fees and time spent transferring coins between exchanges)

The NXT that is purchased with the BTC that was mined will then be sent out to all of the miners, divided up by the percentage of the total shares that each miner contributed to the pool. There will be a 2.5% fee on the pool once it goes public (for the first 1 month) and afterwards the fee will drop to 2%. During the closed beta period the fee will be 1%. I have spent an enormous amount of time getting the various pieces to this all starting to work together, so I do not feel that it is an unfair fee amount. The fee will be retained by the pool in the form of NXT, 100% of the coins mined will be liquidated for BTC and 100% of the BTC that is obtained will be immediately used to purchase NXT.



This will:



a) drive the price of NXT up by continually infusing BTC into the ecosystem

b) allow people to use scrypt miners to increase their NXT holdings.



Please message me if you're interested in testing the closed beta - as a warning, there will be limited visibility into the stats during the first part of the beta, although I will be more than willing to be in an IRC channel with the testers while they test. Any coins that are mined will be liquidated and the NXT that they purchase will be distributed amongst the beta testers. I am hoping to start the closed beta testing tonight, although there is the possibility that it may have to wait until early this week.

--- Please include an approximate value for your hash rate if you're messaging about the closed beta testing. I would like to be able to keep the beta to a reasonable hash rate, so please no huge 300 card mining farms or anything yet ---



Sorry guys, I can't keep up with this thread. Wesley pointed this post to me over at Nextcoin.org. Anyway, for those who didn't catch it, I posted a bounty for this type of pool. However, to win the bounty, you need to implement a Scrypt mining address AND a SHA-256 address. It sounds like this pool will most-likely meet the requirements, so long if they can implement SHA-256. Sorry guys, I can't keep up with this thread. Wesley pointed this post to me over at Nextcoin.org. Anyway, for those who didn't catch it, I posted a bounty for this type of pool. However, to win the bounty, you need to implement a Scrypt mining address AND a SHA-256 address. It sounds like this pool will most-likely meet the requirements, so long if they can implement SHA-256. A Personal Quote on BTT from 2011:

"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00. Otherwise I'll just have to live with my 5 BTC and be happy. :/" ...sigh. If only I knew.

wesleyh



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Sr. MemberActivity: 308Merit: 250 Re: NXT :: descendant of Bitcoin - Updated Information March 16, 2014, 09:30:02 PM

Last edit: March 16, 2014, 09:46:06 PM by wesleyh #44873 Quote from: ChuckOne on March 16, 2014, 09:24:33 PM



https://bitbucket.org/JeanLucPicard/nxt/commits/b76c64e710a69ab6661530e6a3579b6eb7f4a45a#chg-html/tools/js/curve25519.js

Do we need an audit for the JavaScript Crypto25519 that Wesleyh uses, too?

Actually jaguar fixed his implementation to correspond to the fixes proposed by xyz (forgot his name).



Of course I invite anyone to do a COMPLETE review of my code (the entire web client).



Also, tomorrow I will update the version on my site to do local signing (via the code above). It will no longer transmit your password to the server.



It works like this:



1) Fill in form, together with your password

2) On form submit, your password is not sent to the server, instead your public key is.

3) We get back raw bytes (prepared transaction)

4) This is "unpacked" and compared to your input.

5) If everything is OK, we send sign the raw bytes and send it back to the server.



I do step 3 so that server side can do input validation and error handling instead of client side (checking if name is taken, funds are available, order exists, etc). Actually jaguar fixed his implementation to correspond to the fixes proposed by xyz (forgot his name).Of course I invite anyone to do a COMPLETE review of my code (the entire web client).Also, tomorrow I will update the version on my site to do local signing (via the code above). It will no longer transmit your password to the server.It works like this:1) Fill in form, together with your password2) On form submit, your password is not sent to the server, instead your public key is.3) We get back raw bytes (prepared transaction)4) This is "unpacked" and compared to your input.5) If everything is OK, we send sign the raw bytes and send it back to the server.I do step 3 so that server side can do input validation and error handling instead of client side (checking if name is taken, funds are available, order exists, etc).