whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this
AM ? |
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When a new snapshot is confirmed by the blockchain, a special no-fee snapshot transaction will be sent to a special account. New clients can validate the most recent snapshot by using hash attached to the last transaction sent to the special account.
How could that work? To verify a block (and transaction) in this PoS model, you need the know the effective balance of all accounts at that point in time, which requires full blockchain. The only alternative in this model is centralization, with pre-defined trusted party with the ability to verify later snapshots by generation of these snapshot transactions. Is NEM going to be centralized? I could be wrong but I think that's what server nodes are for. If you look at the plan there are going to be server nodes and client nodes. Server nodes will afaik hold the full blockchain and could therefore be used to verify snapshots. NEM sure as hell is not going to be centralized  |
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mNEM sounds generic rly ? It sure looks generic but have you said it out lout ? I think it sounds pretty funny and noticeable but hey...wouldn't be the first time that I'm totally alone with my opinion |
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Would POI not further encourage hoarding ?
If a node is more important if it has had more NEMs for a longer amount of time then everyone will try to keep their NEMs at one place right ?
The key part of the POI summary is this: "Forging power is a factor of a node’s weight and the NEM transfers that link it to other nodes". So, a node that actively engages in transactions will be more important that one that doesn't. Also - Will Server nodes be more important then client notes simply by their nature ? I think they should be. I'm may be missundestanding something about POI so please enlighten me That is a good suggestion that would increase the incentives for running server nodes. We will take that under consideration. Did I miss it or is there no Alias-System in there ?
We're not targeting that in V1. In place of it, we're allowing accounts to be given friendly names that might give newbies more confidence that they are sending money to the right place. Is transparent forging going to be there ?
We haven't decided yet because this will depend on the forging algorithm that we choose. Thank you for answering my questions and considering my comments. I totally missunderstood POI. I somehow missed the fact that transactions will give nodes a higher weight - All for it now . Actually I think this could really stirr up some attention. One question that came to me regarding POI - Will my "links" be reset when I shutdown my node ? I think that'd be a shame. Regarding the name for partial NEMs. Why not just stick with mNEM ? I think it's fun to say (reminds me of om-nom-nom). Naka would give props to Satoshi and I get that but it's just totally different. 1 NEM and 1 Naka O_o...kind of irritating. Just my 2 cents. |
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I opted as a stakeholder here: https://bitcointalk.org/index.php?topic=440185.msg4858419#msg4858419I accidentally copy/pasted the NXT address from the payment as transaction ID, i got marked in the list as possible hash fraudster. I sent utopian future the proper transaction id and also edited the original post to contain the right transaction id. sent friday 31 january 2014 16:31:22 transaction id: 1311926364865472858 I would like to get some feedback on this. I sent PM's and posted the issue at hand here, yet nothing has been resolved. My status in the list is still set to 'possible double hash fraudster'. Please be a little more patient. You have done everything you have to, it'll be resolved eventually. |
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Thanks a lot for the update ! Would POI not further encourage hoarding ? If a node is more important if it has had more NEMs for a longer amount of time then everyone will try to keep their NEMs at one place right ? Also - Will Server nodes be more important then client notes simply by their nature ? I think they should be. I'm may be missundestanding something about POI so please enlighten me Did I miss it or is there no Alias-System in there ? Is transparent forging going to be there ? Keep up the good work ! |
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Distribution of Nxt:
first 61 days, 1 Nxt = 2 Satoshi = 71 stakeholders
next week, 1 nxt = 100 Satoshi = 400 stakeholders
next weeks, 1 nxt = 400-2000 Satoshi = thousandts of stakeholders
Distribution of Nem:
First 20 pages : free to join in
pages 21-30 : fee = 0.001 btc or 10nxt
page 81-90 :fee=0.03btc or 300nxt
b)
page 51-60 :fee=0.06btc or 600nxt
So the distribution of Nxt and Nem is very similar, only with the biggest difference - first stage of Nxt first IPO was 61 days long and Nem had it for a few days (hours?)
How is starting with 3000 stakes similar to starting with 71 stakes ? |
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Has anyone any idea about how NEM can be better than NXT ?
Yes distribution will be by far (more stakeholders)
Copy cat clones are going to pop up like mushrooms.
i think we need an edge on a 100 % clone.
Can anyone think of a dev that is easy to implement ?
would programming in C be better ?
Just a few thoughts at the start of this journey !
There are already a couple of good ideas floating around like using PON together with POS. I don't think the language will matter. C is imho not the language for the task at hand (unless I missed something final plan isn't out yet) but it's up to the devs anyways. |
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No, but seriously in a free market sellers would quote silly prices and NEM Holders would not be willing to buy at those prices which could just lead to a deadlock. If all 3000+ stakeholders were to reach some sort of consensus value among themselves and pledge to honor that decision by providing goods and services at agreed value we would have all increased the value of our own stake. Its a common "prisoners dilemma" problem. But I guess you need stakeholders who can see the longterm benefit of such an agreement as opposed to just dumping the coin.  for a small profit. free market is the only way to go. If someone sells that silly prices no one will buy - his problem If someone buys at those silly prices - his problem If someone sees noone's buying at his silly price and he decides on a more reasonable price - PROFIT ! Anything else is just not working and I understand why. BIDs and ASKs - all we need. |
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Hello community!
I have some ideas
....
What do you think?
I think for now we need to focus on getting everything up and running community and tech wise before even thinking about NEM-PayPal or NEM-Ebay. Don't get me wrong I thank you for puting all the thought into your ideas and they are worth looking at but I think at the current state of the project we should focus on the basics. Let's not get ahead of ourselfs. |
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To everyone still discussing stakes:
Plz switch over to the stake complainst thread, plz search for it as I don't have the link right now.
Regarding the logos:
Imho 30, 21, 20, 17 need to be removed since they are not original. They are either completely stolen i.e. just taken as found in google or partially stolen (e.g. from EA).
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When will the fundraising stop?
4k stakeholders is the upper limit. Currently 3k is considered ideal afaik so as soon as a number around that is reached it'll stop. When that times comes - we'll see |
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Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !
You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording. Are you saying the mining will continue after 1 000 000 CGB have been created and the miners will be rewarded with .5% of all the interests ? According to the announcement: • 1.5% Annual PoS Interest • Subsidy halving after every 50k blocks until reward of 0.01 is reached were it will remain in perpetuity • ~1,000,000 Cryptogenic Bullion cap with 0.5% annual PoW inflation This could be interpreted that there is a hard cap but the wording strongly suggests by "cap with 0.5% annual PoW inflation" and "[reward]... will remain in perpetuity" that the 1'000'000 CGB is just a mining target for last non-0.01 reward. From then on a steady rate of at most 2.00% per year increase in the monetary base occurs. In fact the miners will receive at least 25% of all reward, while prudent savers will receive at most 75% of total newly mined/minted CGB. Yes, as psd pointed out, PoW mining will continue forever at a rate of .01 CGB per block (once this baseline reward is reached). Do you think people will really keep mining for that kind of CGB ? How do you feel about implementing a system similar to NXTs where ther is absolutely no POW needed anymore ? Don't mean to criticize - just thinking out loud here |
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Hi, here is my 0.06bitcoin:
02966f70842928f5b52a663a114a3932fa7507f6302a0b05ab3613c1a2b28f45
thanks for the stake
To UtopianFuture or the person in charge:
Someone has just stolen my HASH (Bitcoin Payment)... I can prove that the payment came from my account...
Please tell me what I need to do to prove I am the original sender.. .
I'm very PISSED RIGHT NOW! Please make sure you don't add the fraudster to the list!
Please help!
To fraudster, you better remove your post now before I hunt you down! You have been warned, you've messed with the wrong person! Do not worry. We are checking all hashes anyway. You are not the only one, people have tried to use others' hashes before. Here are the rules how this is usually settled: If there is 1 hash used by 2 people: 1) person who used it first get's it (correlation between time and post. this is why pepole are encouraged to only make a post when they already made the transaction and not before) 2) user that has been longer on bitcointalk 3) parties have to provide proof. In any event - justice will be done. |
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@utopian: Are you saying you only want us to vote among the ones you just posted ? Shouldn't the community get a say in that ? I mean yes those are among the best but still...
On a side note some are partially or completely stolen from other logos so we'll have to dismiss those.
I just think they are nice but probably neglected because of their small sizes in the Flickz. I also think their nice but I still think the community should be allowed to decide. Can you see how many times a picture has been favorised by a person ? That would be an easy way to vote since you don't even need to be registered to favorise a pic Everyone could just favorise the pictures they'd like to see elected as logo and the logo with the most "points" wins. Sure. Community decides the logo. But generally website owners and app owners can choose the materials they want to use too . Yeah you got a point there. We'll as long as we find one and stick to it consistently I'm fine. |
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@utopian: Are you saying you only want us to vote among the ones you just posted ? Shouldn't the community get a say in that ? I mean yes those are among the best but still...
On a side note some are partially or completely stolen from other logos so we'll have to dismiss those.
I just think they are nice but probably neglected because of their small sizes in the Flickz. I also think their nice but I still think the community should be allowed to decide. Can you see how many times a picture has been favorised by a person ? That would be an easy way to vote since you don't even need to be registered to favorise a pic Everyone could just favorise the pictures they'd like to see elected as logo and the logo with the most "points" wins. |
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Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !
You know what this would be a great opportunity to get some clarity perhaps from MercSuey. The precise details are not critical at this point but I will explain it as I understand it and perhaps someone can correct me. The PoW mining rewards for CGB amount to a total deployment of 1'000'000 CGB. I am not sure if PoS minting is factored into this target, but once the PoW mining has hit its final target of 1'000'000 CGB, the protocol will allow a maximum indefinite inflation rate of %2.00/year assuming all wallet holders are saving for 90 days and minting (not likely), while miners are picking up the %0.5 reward which is given out thereafter. The key point to remember is that this inflation rate is modelled after the gold supply. Like the historical gold supply, it does not hit a limit and stop which would potentially cause unstable deflation and encourage hording. Are you saying the mining will continue after 1 000 000 CGB have been created and the miners will be rewarded with .5% of all the interests ? |
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@utopian: Are you saying you only want us to vote among the ones you just posted ? Shouldn't the community get a say in that ? I mean yes those are among the best but still...
On a side note some are partially or completely stolen from other logos so we'll have to dismiss those.
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Do I understand this correctly that 90 % of all CGBs are already mined ? So "in 10%" all that's left is POS and Interest...that's pretty cool !
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