That might has been edited recently. But then we are not competing in these kind of things/ titles. "No Envy". Sorry for the delayed update of the stakeholder list due to that the blockchain.info is down and transaction hash cannot be checked. So the list is updated to page 80 at this point. I will continue working when the site is online again. Thanks for your patience. Utopianfuture what are you still doing here now the IPO has ended? You got 100 BTC worth of funding you should at least try and make a run for it, not just sit here and develop stuff. This goes against all bitcointalk etiquette. Has it not occured to you that people other than utopian will be working on the coin? Utopians job is to chitchat with us. I've faith and patience we will eventually see an outcome. Time will tell and i'd be happy to help in any way I can. lols i think your sarcasm meter needs adjusting |
|
|
|
Re: NXT :: descendant of Bitcoin - Updated Information
Today at 04:00:05 PM
Reply with quote #36056
Quote from: igmaca on Today at 03:53:48 PM
I have an active VPS with Hallmark pointing to my account
Should I forge with this account using the IP of the public node?
I have read that this is not safe.
It's not safe, don't do it.
Quote
Can I forge with this account with my private node and VPS with Hallmark continuous working well?
Yes.
Thank you very much. Would be interesting to indicate much clearer in the wiki.Note: its not unsafe because of the hallmarking; its just unsafe to forge from a VPS, as the VPS provider has access to view what all is going on with their VPSs; they could determine your NXT account passphrase if they really want to |
|
|
|
So, when an account leases forging power to a node, what should prevent that node to mis-use that power?
Fear that the leaser will take the power back. That should not suffice. There could be a business model made on top of this: 1) bad node tells forgers 'u get a bigger slice of the profit when u support me' 2) bad node does only accept transactions with big fees 3) people will pay You could argue that in that case people will cash out and move on to another crypto-currency or NXT clone. That is true if NXT is young and nobody depends on it as it is the case right now. However, if NXT is mature and a lot of services depend on it, nobody can cash out that easily and will feed the scheme Will work only if a lot of power is owned by bad nodes. This is unlikely if Nxt is mature. Don't other nodes see the block so know what should be in the forged block - if the forging is faulty couldn't the other nodes reject the block and the transactions then get added into the next block. So a bad node could risk its block being rejected and the work being given to the next forging node to get the fees. I don't think they know what should be in a block. They only see what is in there after the block is forged. But everyones sees what *could* be in a block, so it can be noticed if a node is shady |
|
|
|
So, when an account leases forging power to a node, what should prevent that node to mis-use that power?
Fear that the leaser will take the power back. That should not suffice. There could be a business model made on top of this: 1) bad node tells forgers 'u get a bigger slice of the profit when u support me' 2) bad node does only accept transactions with big fees 3) people will pay You could argue that in that case people will cash out and move on to another crypto-currency or NXT clone. That is true if NXT is young and nobody depends on it as it is the case right now. However, if NXT is mature and a lot of services depend on it, nobody can cash out that easily and will feed the scheme Will work only if a lot of power is owned by bad nodes. This is unlikely if Nxt is mature. Don't other nodes see the block so know what should be in the forged block - if the forging is faulty couldn't the other nodes reject the block and the transactions then get added into the next block. So a bad node could risk its block being rejected and the work being given to the next forging node to get the fees. What you are describing is possible, but very complex, would be cool to have though. Would require some rules to be defined. Good luck on consensus of that though |
|
|
|
An Error Has Occurred! Sorry smaragda, you are banned from using this forum! Insulting staff. This ban is not set to expire. Graviton is on his usual power trip over at HIS forum... ROFLMAO!  How come you didn't tell the Nxt community that Drexme was about to invest stolen NXT... huh tough guy?  FUCK GRAVITON & DREXME... enough with both those fuckin' assholes!!!  Edit: FUCK dgex too while you're at it!  Dude chill. Drexme did not do that with gravitons permission. his excuse to us aftter the theft was discovered was for the investment, even though we demanded the nxt back |
|
|
|
If anyone wanted to help with english proofreading for Nxt articles, let me know  (we've got some guys already, but joefox isn't a robot  ) Ill hêlp out here |
|
|
|
This creates two classes of users and significantly reduces the percentage of the money supply used to secure the network.
Why? Here we see no explanation but just a statement of "fact" (or in other words "bullshit"). Additionally both of these systems suffer from the potential that a large stake holder could perform a denial of service attack by refusing to include some or all transactions.
They seem to have overlooked the "penalty" for not forging here. you mis attributed some quotes to me. Ive fixed them in this post, please fix in yours.. but a forger could accomplish the same thing by choosing to forge empty blocks; thus avoiding the penalty. Its a fairly weak criticism, IMO. But the criticism on only a few accounts being used to secure the network; is that valid? Is it necessarily a bad thing for say only 100 accounts to be active forging 100% of the time, where those 100 accounts have, lets say 15% of all NXT? Is that bad? If so, how is is different by leasing out your effectiveBalance? Does allowing those 100 accounts to forge with 50% of all NXT then change things? |
|
|
|
below are from the latest Bitshares X whitepaper:
A recent entrant to the Proof of Stake scene is Nxt which claims to be 100% proof of stake and does so with a process they call transparent mining.
With transparent mining the network deterministically selects who gets to produce the next block. If this person is online at the time then they get an opportunity to earn transaction fees. Otherwise a block is produced by the next in line.
The problem with existing proof of stake systems including Peercoin and Nxt is that they dependupon a subset of users that actually choose to dedicate computational power to mining in aneffort to earn income from transaction fees. This creates two classes of users and significantly reduces the percentage of the money supply used to secure the network. Additionally both of these systems suffer from the potential that a large stake holder could perform a denial of service attack by refusing to include some or all transactions.
how do you think the comments about NXT transparent forging?
Seems they r right, we should implemented forging power leasing to get rid of such the issue. Isnt a pool of leased forging power suffer the same issue as theclass of users and could dos the same way? |
|
|
|
Conference San Francisco in a monthhttp://www.coinsumm.it/I am trying to get a speaker for discussion: Decentralized Applications - the future of Bitcoin and virtual currencies?
VItalik Buterin, Ethereum.org, Anthony Di Iorio, Ethereum.org, Brock Pierce, Mastercoin Foundation
Moderated by Adam Levine, Let's talk Bitcoin We really need someone to be there I can go bar no one else. surely someone else is closer |
|
|
|
Is anybody running public NRS nodes?
Are there plans in the community to support a decent number of public nodes?
I'm asking since I plan to add client side Curve25519 enryption/signing, so that it would be save to send transactions to a public node and users don't have to run NRS themselves any longer. But to make this a common approach, we would need a number of always available public nodes.
vps1 - vps12 .nxtcrypto.org all hallmarked, under my direct control and billing. vps13 - vps24 are also there as well undermy direct control but under others' billing as I admin their VPS for them |
|
|
|
I need to be unbanned in Nextcoin.org so I can make a post on the forum so the community can decide how I can pay back the NXT
Either through services
Dogecoins
Or webspace
etc.
its awesome that you are making amends. good for you sir. Well I had no choice. A witch hunt started and I was afraid for my families safety. I don't live alone and there's some crazy people in the internet. Well its good you are doing the right thing but dont call it a witch hunt, that would imply a measure of innocence on your part. Its not like you are doing this out of a sense of conviction |
|
|
|
Since I was banned, I can't show you the PMs I had with the admin to partner up with NXT. But it didn't work out. Sure I took 30k worth of NXT from a fundraiser. But it wasn't worth what it is now. Your bringing back things that happened 2 months ago. Yet I have never stolen doge. Come back when you read otherwise. Quoted for posterity |
|
|
|
I havent figured out how exactly to create a coin on top of NXT. It is supposed to be easy, so that is why I started bounty with 25000 NXT. My hope is that someone that knows how to do this (hint, hint) will publish a reference coin on top of NXT. Then we can extend it by adding customization, etc.
I am thinking that a new coin would simply be an Asset inside of NXT AE. So the community gateways should be able to provide a turnkey coin creation service. However I am not clear on how to enforce any sort of proof of work mining....
Oh, of course! I think I just saw how it could be done. Let it percolate for a bit in my head. I will disclose the method to any community gateway providers. Still need 3 more.
I think we can create a mechanism for anybody to issue a new "coin" that will trade within NXT AE. Any type of proof of work, proof of stake, proof of whatever, could be specified. Of course the more complicated it is, the more work it will be to implement, but somebody familiar with bitcoind should be able to create a PoW coin on top of NXT. Not that we want to encourage such things, but the beauty of NXT is that there is nobody that will prevent you from doing a PoW coin on top of it. As long as 1 billion coins is enough, NXT AE seems to be a pretty good platform for customized coins.
James
CfB was nearly complete with his PoW coin that uses NXT AM as its base. I dont think a coin based on NXT AE will be feasable unless people will be ok with centralization of whoever creates it. or unless you come up with some 100% distribution scheme to release them all upon asset creation. Not 100% sure, but I believe a coin based on NXT-AM would simply write signatures of generated blocks into AMs, since AMs would be pruned anyways. It would be up to the nodes themselves to keep their real blockchain in RAM and/or in some local DB. I think. |
|
|
|
It turns out the transition to fractional amounts, which is required for reducing the minimum fee, will not be that simple. It would require adding a new transaction type, because the current ordinary payment transaction stores amounts and fees with 1 NXT precision, not multiplied by 100 as in the account balance. So it will take longer to implement and test. The positive side is that while doing that we can make the fractional part allow amounts much lower than 0.01, so we will achieve much higher divisibility.
well I guess now we have more time for discussion of number of decimal places and also more on fees. Maybe we want to start with 4 decimal places and allow us options to 'split' in the future (something that hasnt been done in crypto before, they just go with eight and done) or we could just go 8 and done. Im still torn on using percentage-based fees on ordinary transfers, or for my other suggestion for fees based on byte-size of each transaction. if you do a %, then what about AM/alias? Do we hard-set fees for aliases/AM? or just leave that for future debate, as fee-changing is apt to take a lot of work/testing anyways. |
|
|
|
|
guys stop being retarded. hes deleting the 'interested' bullshit you all are spewing because this thread is not for that. the other registration thread is for claiming a stake. its not a scam. This is the discussion thread.
|
|
|
|
I believe optical and brooklynbtc bought it. I think  how on earth did you get that Im involved in a purchage of nxtchg? cause Ive never said anything of the sort, and Ive not seen anyone around here mentioning it either. |
|
|
|
It turns out the transition to fractional amounts, which is required for reducing the minimum fee, will not be that simple. It would require adding a new transaction type, because the current ordinary payment transaction stores amounts and fees with 1 NXT precision, not multiplied by 100 as in the account balance. So it will take longer to implement and test. The positive side is that while doing that we can make the fractional part allow amounts much lower than 0.01, so we will achieve much higher divisibility.
Does anyone think it may be possible to split NXT in the same way that a stock splits when it gets too valuable? i.e. if you have one NXT you now have 100 NXT... everything just gets multiplied and then new transaction fee could be 10 NXT. The reason I suggest this is because decimals are kind of a pain and it really encourages tipping and use when coins are not worth so much. People just feel cheap tipping 1 NXT. I think this is part of the reason DOGE tipping caught on so well. BCNext wanted to avoid using decimals but I think was shortsighted about how much the value of one NXT could end up being. Maybe this is too complicated to do though. I think fractional amounts of NXT that is coming will resolve this. Though I did suggest a split as an AE operation. |
|
|
|
Maybe I overreacted a little bit but are we seriously not going to pay the forger's anything? or did I misread that?
no, and i was surprised as well. but I dont think it will happen as there doesnt appear to be a mass of orgs out there right now rushing in trying to build services on top of NXT like BCNext envisioned. not to say that it couldnt happen in the future, but to then remove fees altogether would require a consensus that I do not believe it achievable - by the point that there are enough orgs out there that could sustain forging for free per BCNext's plan, the distribution of NXT will surely be at the point to make it impossible. |
|
|
|
Here is my vision of Nxt:
Every forgers runs a client and tries to make money off of running it. We run it like a company and try to make ourselves as big and stable as possible.
The programming team makes applications such as the messaging application, the alias registration, etc. The more Nxt you own, the more it'd be like having stock in our company and you'd be rewarded for forging with enough Nxt to make money doing it. This would encourage a large base of users who would each be making an average of $1 per day just for leaving their computers running. Users would be encouraged to hoard coins because they know that the more coins they own, the more they'd make off of forging not to mention it being an investment in our company and the future of our coin.
This does not sound at all like that and this is not the Nxt I invested in.. sorry guys you just lost me, think I'm going to compete with you guys instead.. unless enough of the community is in favor of trying to make a profit instead of going this direction?
I'm one of those people BTCNext saw jumping ship, I just sold all my Nxt and BTC too since it seems to be a bubble popping.. and I'm new to this, I haven't been around long and I don't have money I can afford to lose, I'll buy back in when it appears to have bottomed out. Anyone else who wants to make some money.. please send me a PM. I'm going to need some help. I've spent every free minute of the last month analyzing how the Nxt backbone and idea allows us to make a very profitable coin. NEM also seems to be heading that direction. I've got 13 pages of a business plan written up and I haven't finished just yet. I was hoping to convince Nxt to go that direction but this topic and many of the replies to it have me worried that it is not heading in that direction. Got big plans for my vision of this coin.
I loved Nxt.. if you guys would prefer to try to make Nxt profitable, count me in but with this vision.. later guys, I see this crashing as people start turning off their forging machines left and right and others realize that they won't make much money off of this but I truly wish you all the best! Maybe I'll hold onto 1000 Nxt because I truly did love this coin.
how is it possible that someone has the ability to do all the work you've just described, yet get stuck in short-term tunnel vision where you cannot see the long-term possibilities of using NXT as the infrastructure for a decentralized economy? sounds like you just wanted to see NXT as just another cryptocurrency that just happened to have different code. |
|
|
|
|
Show Posts
