Do you think NXT will replace BTC ?
Nxt's purpose is not to replace anything, it's purpose is to provide a valuable and robust financial platform. Nxt and BTC can easily co-exist as they are so different. |
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Are you on Holiday break right now, you seem to have endless amounts of time to write here. Not trying to discredit you, just jealous of your free time  Yes, it is school vacations here. Well, nice to be on the school schedule. Just curious if you've checked out other protocols, POS, POI, Ripple? Thoughts? |
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A few months ago DGEX and NXT Chance joined forces to develop games for the 2nd gen cryptos, and Gamule was born.
Gamule strives to provide simple yet pleasurable gaming experience with low barrier to play. We start with a suite of three games, refined from the popular crypto gaming concepts.
We are planning for the long haul, growing alongside 2nd generation cryptos, making plans for more features and an expanding user base. The development of our next multiplayer game is already well underway.
Interesting, will check it out, thanks for the update. |
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Are you on Holiday break right now, you seem to have endless amounts of time to write here. Not trying to discredit you, just jealous of your free time |
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Having said that I think the best course of action is leaving him (them?) alone, IMHO.
You are a typical bitcoiner, sir. You guys always go to personality level when run out of counterarguments. good that you don't run in the same direction. and even better that you don't generalize. CFB is anything but typical That's why I like him. |
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Lots of technical bullshit, one big fatal flaw that a 3rd grader could easily point out.
Haha, since you are a technical wizard, please detail the 3rd grader fatal flaw. |
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I really like this advantage of NxT. With Bitcoin, any one sidechain can fail without affecting the rest of the network, including the main blockchain. In fact, every sidechain could fail and bitcoin would remain completely unaffected. With NxT, if one MS Currency fails then that calls into question the integrity of not just that "sidechain", if you will, but ALL other "sidechains" as well as the main blockchain.
Essentially, with NxT MS Currencies, you get to keep all your eggs in one basket, which my mother always said was the best way to do things. I mean, she did lose $2.2million of our families money by investing in Enron, but I really think she gave great advice!
Go NxT!!!!
Since your a newbie, I'll give you a break, but you obviously know nothing about Nxt MS or side chains. |
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Jorge, why do you keep ignoring the data? in fact, this chart has been distributing out more evenly for over a year now:  The 4 largest named slices already add to more than 51%. That is why I used "4" in my posts. What is your number threshold for a amount of combined pools over 51% in which you would feel safe? 10, 20, 100? I don't think it would be hard to get 100 mining pools to conspire together. |
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you could say that regardless of how decentralized bitcoin is or was, it always relies on miners (pools) to secure the blockchain, whether this is 4, 40, 400, 4000 etc.. regardless of the #, they could at any time decide to collude for 51% hashing power. There is no incentive for pools to conspire and regardless of the number of pools needed to reach 51%, there will always be a certain # of pools that "could" conspire. There are 4 US banks that could conspire to destroy the USD, but what incentive do they have to do so?
The largest banks clearly conspire, as an explicit or tacit cartel, to obtain maximum profit. That is one reason why bank fees are so high compared to the actual costs (including fraud damages) and large banks are so obscenely profitable. The correctness of the bitcoin protocol apparently was based on the implicit assumption that a sufficiently large number of users would have sufficient hashpower to fight attacks, and, having a vested interest in the health of the network, would want to do so. (It is the same assumption used to justify democracy with frequent direct elections.) That assumption is not valid if there are 4 mining entities that hold the majority of the hashpower, and are not even significant holders of bitcoins. Yes, but these are pools are made up of thousands of participants who can at any time redirect their hashing power. Pools are setup only for consistency of income. |
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now imagine eying a SC for possible attack if you're a large pool. esp a SC like Zerocoin which, if you're a US based pool, was made illegal by the US gvt. you see thousands of scBTC riding Zerocoin yet you can't participate b/c you don't want to go to jail. what might you do?
Not sure I understand. Are you referring to the legality of securing the blockchain as a result of SC? |
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Your prose is amazingly polished and clear. You are a professor of something. Philosophy is my guess
Uh, thanks! Yes, a prof of Computer Science, at a public univ in Brazil. prof. bitcoin troll. ... all of your claims in that lengthy (worthless) prose are unsubstantiated of course. I wouldn't say it was worthless or unsubstantiated, but a little mislead. The main point being the lack of decentralization and the need to trust 3rd parties (mining pools). However, you could say that regardless of how decentralized bitcoin is or was, it always relies on miners (pools) to secure the blockchain, whether this is 4, 40, 400, 4000 etc.. regardless of the #, they could at any time decide to collude for 51% hashing power. There is no incentive for pools to conspire and regardless of the number of pools needed to reach 51%, there will always be a certain # of pools that "could" conspire. There are 4 US banks that could conspire to destroy the USD, but what incentive do they have to do so? |
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It looks like POS coins might be your thing. What do you think about Bitshares?
I know practically nothing about PoS coins; unfortunately the forums I have been reading only mention them to dismiss them. Do you think that PoS solutions are immune to miner centralization? Or will centralization only be delayed? Here are some write-ups on Nxt POS if you care to read. https://github.com/ConsensusResearch/articles-papers/tree/master/articles |
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Great stuff! And yes, you are totally misinterpreting him if you think he doesn't understand the basics of the bitcoin protocol. Marc is the best kind of representative/cheerleader that BTC can have. |
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Or alternatively, in 10 years people with bitcoin in their portfolio will be rich.
I guess it depends on how much BTC they have in their portfolio. |
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I think something is going to happen to gold soon. The price is being suppressed by counterfeit certificates. Rich people want real gold.
I don't think Rich people want gold, I think it's a part of their overall portfolio, they own paper gold. Rich people believe in the markets, real estate, and the USD because it's served them so well. They want diversity. In some cases they want to hide their money, but gold isn't a good way to do that. We all know the advantages of Bitcoin over gold and in 10 years I believe most rich people will have BTC as a part of their overall portfolio. |
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How customizable will MS coins be when it goes live on testnet? I know we have a few set options like POW and Coin Mixing, but will we be able to add advanced features via API or will more options just be added by devs in future releases?
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I don't really see why it would be better for crowdfunding than the Asset exchange... or digital good store if you prefer a stable price.
Because you can set a block height so if your target crowdfunding Nxt goal isn't reached, the MS coin isn't created and everyone gets their money back (called Reservable). With Assets, people buy the Assets and their money is gone regardless if the target is reached. |
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+420 on the Dow. wow, somebody's happy about something!
i'm staying clear of that thing.
Most people made a bundle from the Fortune 50 this year, including myself. Bitcoin was my worse performer, however I believe now is the absolutely best time to invest in crypto. Bitcoin tends to dwell in the doldrums for a while, shaking people's beliefs and weeding out the weak, then skyrocket. yes, they are called cycles. and the Dow and Bitcoin stand at opposite ends of their cycles. Yep, can't argue with that, however I think many people have a misconception that they are mutually inclusive. |
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