Ethereum just killed NXT.
Same with all the others.
A POW inflationary coin, hardly. So much hype - similar to the way Mastercoin was launched |
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Cross posted from: https://forums.nxtcrypto.org/viewtopic.php?f=2&t=530&p=2612#p2612My thoughts on how to count votes. Personally I think the most democratic way is 1 Account = 1 Vote, regardless of your wealth (amount of NXT). Sure someone could create multiple accounts to have more votes but since it costs NXT to send NXT to other accounts, you couldn't do this for long without going broke. Imagine I have 10,000 NXT. I can't create 10,000 accounts. At most I could create 5,000. Since if I send 1NXT to 5,000 accounts it costs me 5,000 NXT in transaction fees just to do so. If I want those NXT all back in one account (to increase ability to forge) then I can create even less accounts since I will incur a transaction fee to send NXT from those dummy accounts back to my main account. This can actually work well early on since it may help to distribute NXT even more. Another way to prevent the creation of dummy voting accounts would be to have a rule that NXT must remain in an account for a certain number of blocks before a vote to be counted as a valid voting account. Or say for example if a vote comes up at block 45,000 for example, only accounts that have a balance as of block 45,000 are counted for voting. I think the coolest part about the voting is that we can use the voting system to tweak the voting system as time goes on. We could come up with all sorts of complex algorithms in the future once we see what the NXT ecosystem looks like. Any ideas? Edit: Or maybe even, 1 Account = 1 Vote but it costs 1NXT per account to vote. My only concern with 1 account = 1 vote is that all it does is cause people to spread out their NXT as much as possible. Also, there are only ~14k accounts right now, someone with a large stake only has to spend ~28k NXT to win every single vote. This will result in an account creating arms race to see who can create the most accounts possible so they have the most voting power. I know this idea is meant to help the small guys, but it will in fact hurt them more (since they can't afford to as many transaction fees as large holders can to create a large number of accounts). Good point. 1 account = 1 vote will increase manipulation on important decisions. I would support 1 NXT/ 1 vote, at least in the beginning period. We could add tweaks to reduce the power of big accounts later on. |
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Ethereum just killed NXT.
Same with all the others.
Nope, don't think so. |
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On the independent reviewer of Nxt's crypto algorithm, I have two candidates for your consideration, but they may be not the right person because of conflict of interest. The first one is David Schwartz, who is the Chief Cryptographer at Ripple Labs and one of the architects of the Ripple payment system. I learned a lot from his posts on bitcoin stackexchange. He is very active on crypto algorithm and I think he is very open. I don't know what's his opinion on Nxt. His profile is here: http://bitcoin.stackexchange.com/users/85/david-schwartzThe second one is Charles Hoskinson, who is the former CEO of Invictus, and now one of the founders of the project Ethereum. He mentioned Nxt as "interesting innovations": There are been some interesting innovations in the proof of stake space with the introduction of Nxt and also BitShares adopting PoS.
I think he should be very busy on the new project. Ideally we would like to see someone with a strong computer science/ cryptography background, an interest in the working of a distributed network and no special interest in any cryptocurrency. This is an ongoing process https://forums.nxtcrypto.org/viewtopic.php?f=17&t=578 ; feel free to suggest people you feel qualify since no one committed yet. |
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^ No. What seller would ever send their wares before payment? Is there something I'm not getting?
I do for certain buyers. You are not trustworthy enough. That's all. |
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WTS 61K NXT at 0.000042
Coinmarketcap price (wherever that is from?) works out to 0.00004640.
So this is cheap.
Asked before, asked again. Are you sending first ? |
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It uses PoW. It's like iPhone 3 when most of guys use iPhone 5 (iPhone 4 is PoW+PoS hybrids). For the initial concept, I agree with Cfb that NXT's POS is just more elegant than this modified POW design. They may have been too much influenced by the asic miner cartel to think out of the box. But there is an interesting debate between Dan from BitShares and Charles from Ethererum here https://bitcointalk.org/index.php?topic=412878.msg4509322#msg4509322 whose main issue is whether we go for a mega blockchain or separate blockchains for different applications. I think Luc and Cfb are well aware of the issue of how much of a load our bockchain can take. We may have to prioritize most important applications to put on top of our protocol. Given the mixing issue, I would suggest to have service providers to open coin mixing services instead of having a mixer at low level protocol. It may cause a heavier burden for the blockchain than what we can get in benefit. |
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Please make a poll with all the best candidates. |
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give them all 5k
+ 1. There should be no ranking in this category. |
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Why do you want someone to review this at this stage of development and pay them for it? it's madness, let reviews run their course for free.
If you're trying to buy a good review the reviews worthless and if you're paying for an impartial review you might not like what you hear! I think this idea should be dropped immediately.
So you are scared of impartial review ? Definitely, I can't understand why it's being forced or how it's impartial if you're paying. So you should sell your NXTs. We are asking serious- first rate researchers to review the algorithm. We do it because we need a solid foundation to move forward. NXT is not a sand- castle. |
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Why do you want someone to review this at this stage of development and pay them for it? it's madness, let reviews run their course for free.
If you're trying to buy a good review the reviews worthless and if you're paying for an impartial review you might not like what you hear! I think this idea should be dropped immediately.
So you are scared of impartial review ? |
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you are the best ! H e is the beast  Pin |
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We would take the first to commit an independent review. We could even have more than 1 review though if funding is sufficiently raised.
I hope funding is sufficiently. I really like the idea of having more than 1 independent review! What I actually canīt understand is why we are giving 10 BTC to one guy, when we could give 5 to two guys making a review... I think $5000 is a lot of money, too. 10 btc is a lot of money. Seems to me that is overcompensation for the task, but if people are willing to pay that... Just consider the precedent you're setting. What worries me more is that no serious researcher will take on the task. Ittay Eyal is in academics so if he like something, he could set his time to work on it for a few days. Steve Weis, on the other hand, could make more in a few days than what we offer in 10BTC. imho, you guys are seriously underestimate the price of talents. It is not like you are asking some random dudes to "pump" NXT. |
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We would take the first to commit an independent review. We could even have more than 1 review though if funding is sufficiently raised.
I hope funding is sufficiently. I really like the idea of having more than 1 independent review! What I actually canīt understand is why we are giving 10 BTC to one guy, when we could give 5 to two guys making a review... I think $5000 is a lot of money, too. Quality bests quantity any day, imho. |
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Just heard back from Ittay Eyal: Do you have a white paper explaining the protocol?
I understand the code is not open source, right?
Thanks,
Ittay Im going to tell him all the details on the source release and awful state of the whitepaper. I dont believe the encryption stuff has changed since the earlier version of the client that was released and between what we are running now has it? opti before you go on is he worth 10 BTC? Have you not read his credentials??? My response: Another update. He asked for a few day to go over all the info i gave him. Not sure if that means he will do it for sure or if it means he wants to read all our info first If anyoe else reacjes out to anyone else who agrees to do the work please let me know iif the accept so i can tell him that we found someone already Thanks opticalcarrier for initiating the contact. I think he basically means he want to briefly go over all the materials to see if it is worth it for him to commit more time. Real researcher takes his reputation very seriously. If he commits to do the review, we could expect a carefully done, published ready standard report. I think msin already initiated a contact with weis who is probably busier. Any proponents of Antonopoulos could initiate a contact with him, and I have asked neer.g to initiate a contact with Meni Rosenfeld. We would take the first to commit an independent review. We could even have more than 1 review though if funding is sufficiently raised. |
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And I thought 2% premine was bad.
Go buy some clone coins. We are real bad  |
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I really don't know what you are talking about. There is a limit what you can do when all the transaction records are public.
I'm just trying to point out that there is more to anonymity than to enable black markets. And I'm surprised and disappointed that it apparently needs to be spelled out to someone on a cryptocurrency forum. I don't know what to tell you if you think you can keep a total anonymity when you are surfing the Internet. |
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Suppose I would like to support either of these causes, but I don't want my name on a donor list in the FBI's hands....NXT does not allow me to do even that.
Nxt does not want to add a feature that could help stop the bombing of civilian wedding parties in the Middle East, because that same feature would be exploited to facilitate the marijuana trade. I really don't know what you are talking about. There is a limit what you can do when all the transaction records are public. |
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Did you guys read the post today by Cyem regarding building an application platform on top of NXT protocol. Sound very promising to me. The arbitrary message feature offer a great deal of programming flexibility. And given TF, the network could support a great deal of applications.
I think Ethereum guys try to do the same thing, offering programming flexibility on top of its protocol. Klee, you should think about how to use this arbitrary message feature since there are a lot of things could be done with it beside sending a simple message.
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