Secondary markets built on tokens that exist outside of a given game or system are totally new. There's no roadmap or anything, we're just trying things and seeing what happens. Jop sold like 6 ripplecards for a crazy amount of BITCRYSTALS so yeah obviously i'm going to try and capitalize if it's worth it to somebody. That's my only RIPPLECARD so i'm not that anxious to sell it given the rarity. If you want to set up your own swapbot and show me how it's done, post your counterparty address and I'll send you a TOKENLY you can redeem for a month of swapbot vending service. I think, only way is to peg new card prices to USD or whatever currency.
Not bitcoin for sure, since x10 in price might make cards to expensive for anyone to buy.
Not BitCrystals since x10 of Bitcrystal price will or make cards to expensive for anyone to buy or scam those that are buying cards right now.
For sure leave already issued cards price in BitCrystals as it is now. There are only 21 issued and even if 1500 BitCrystas will be worth a fortune I think they will eventually be sold. If to expensive and not sold, that mean that less then 1000 will actually be in circulation and that will justify higher price then the rest.
Currently Swapbots can peg a USD price payable in bitcoin, but we don't yet support USD price peggable in BITCRYSTALS (which incidentally, is the name people should be using because if you try and send BCY you'll find it's an invalid token because the token itself is actually called BITCRYSTALS) It's on the list for implementation. |
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EDS could peg the price in bitcoin to a dollar amount, what do you think of that? and what would the right price be? |
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So what hnin wrote was wrong?
From Wed, Oct 28th 10 am CET further on: 1 200 BCY
If you plan to reduce price in BCY when game reach mainstream.
If that is a plan what is the meaning to buy cards now? if we will be able to get OPEN BAZAAR card for 40 BYC in a year from now?
No the price won't be smashed down. But if the BCY goes 100 fold we might adjust price in order not to have 1000 USD per card (Until the whole supply is sold, then the market will set the price). Since we are burning BitCrystals every month we could reach a point where the price of a card could be even bigger than the market supply. So the value in fiat currency (USD) won't go lower but higher. But in any case no quick decision without a community consultation. Yodark the solution is quite simple: 1) The price of the old card must remain the same over time, the fact that now those cards are overpriced in fiat money do define their rarity and it is the reward for early adopters. But 2) The price of NEW cards Must be smashed now (imho). Let's say about 30%-40% less in bcy terms, to give a chance to buy one to not so wealthy people and most important to new adopters, those that did not do the crowdsale. My take is: You really have to take in account bcy and bitcoin volatility by designing the new cards price curve on some fiat money alghoritm. After all, we hope (or think) that the most of the revenue stream and burning power will came from Apple Store and Google Play trought fiat money,sometime in 2016. I totally agree with this. Existing card prices should not be changed from the schedule but new card prices should be cut in half at least. Ultimately this means more revenue for EDS because people will eventually buy them even at those "high" prices. Also I wanted to post about my Spells of Genesis Swapbot - Currently have a RIPPLECARD for sale as well as a few others and I'm looking to trade TOKENLY (redeemable for a month of your own vending machine rental) to those with cards they don't want. Here's the card swapper bot https://swapbot.tokenly.com/bot/adam/tokenlys-spells-of-genesis-card-buyer#/chooseYou can easily search through all active swapbot vending machines at https://tokenrank.tokenly.com, there are actually quite a few people buying and selling SoG cards besides EDS so you might find a deal. |
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Please feel free to tell me I'm crazy, but this is the path I've been on, thanks to this post by Micaman.... I followed the white rabbit (1WTR4BtM61k4NB52Zvdf79k4B7jiiepFC) through the blockchain and here's where it led From 1FoLLow... https://blockchain.info/tx/3a30ea334087825035d870f234d9704643b0add5034b68a68168c6ad74fa25c2 --> https://blockchain.info/address/1WTR4BtM61k4NB52Zvdf79k4B7jiiepFC then click any recipient on the big list, doesn't matter which one, I picked one at random --> https://blockchain.info/address/13vs7FtkeaT4Qd3SWz2ZVJqVot1znzMRtvscroll down to the mirror transaction, click the sending address --> https://blockchain.info/address/1LsGQV6DvhR1RuK9KX7GkLiGcQ7CEXrZN8 Aha, interesting binary transaction amounts. We know from the last ARG puzzle that the OP communicated to us in binary through the bitcoin amounts (for example, 0.00010001) (which was totally cool!) --> https://blockchain.info/address/1TLSNYAx5P6Yjie3cF97fZh9U4B5UZ7PF Aha 1 fat bitcoin! And another binary clue? The last puzzle began by leading to an address with, I believe, 1 bitcoin (or was it more?). Is this address the starting bitcoin bounty? If the amounts are clues, I have no idea how to convert them.... That's out of my league. ________ More: look more closely at the 1FoLLow page with the "Follow the white rabbit" clues embedded in the inputs. The full message reads: Follow the white rabbit Beware the false satoshi Lost in the white noise [ https://blockchain.info/address/1FoLLow3pd7y5Wvk2dWYqpH6YdaHTLcYmM ] whole lotta sends from WTR4BT https://blockchain.info/pt/tx/e45a0385fae71827891c12ce8cf2f768a5afc535373456a1e76a1a4b9429d981 |
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Can someone help me out? I am getting really frustrated with CP and it seems it's impossible to get any support via email or in the chatroom
I placed a market sell order for SWARMPRE and 3 days later it still shows open... even though now there are BUY orders for a higher price. Also, I can't cancel the transaction either as it seems I need to send more BTC to my account again
I really don't get this
My Open Orders
Type Price [BTC/SWARMPRE] Amount [SWARMPRE] Total BTC Completion Action SELL 0.000182 1472.52747253 0.268 0.00% Cancel
And now there are buy orders for 0.000191
Am I missing anything?
Cheers
Edit: after sending 0.01 BTC to my CP address from a different wallet it shows this:
My Trades History
Type Block Time Price BTC Amount [SWARMPRE] Total BTC Status
SELL 2014/07/31 04:27:45 PM +02:00 0.000182 54.94615384 0.0100002 pending
My Open Orders
Type Price [BTC/SWARMPRE] Amount [SWARMPRE] Total BTC Completion Action
SELL 0.000182 1417.58131869 0.2579998 3.73% Cancel
So now instead of getting the 0.01 BTC from my wallet, exactly 0.01 BTC worth of SWARMPRE have been sold and that is the balance of my CP BTC wallet (the transaction I sent however seems to have evaporated into thin air)
Whenever you do ANYTHING on CP, you pay a transaction fee that is non-refundable, you can think about the fee like the stamp that lets your XCP order ride in its bitcoin envelope on the bitcoin blockchain. So the inability to cancel your order is because you lack the money for the stamp with which to submit your order to the blockchain. This means it is fairlye xpensive to do anything because the dust limit and miner fee puts the minimum size at fairly high. This is why other chains are being developed, for lower cost easier trading. |
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Just wanted to know, is there any talk or even idea of moving the Counterparty onto a faster, less dependent on whims of th eCartel chain? There are a couple of PoS schemes which look promising. If they prove robust enough over time is there a chance that we will move?
http://dogeparty.io |
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Click the links to find out! In short, it is a currency created by Let's Talk Bitcoin, a podcast run by Adam Levine which is long-running and successful (i.e., it has sponsors, i.e. people or companies who pay to have their advertisements placed in the podcasts). People who contribute content to the podcast (on-air talent, behind the scenes/production members, etc.), and to the LetsTalkBitcoin ecosystem in general (forum members, etc.), are rewarded with LTBCoin for their contributions. Let's Talk Bitcoin sponsors will be limited to ONLY being able to purchase advertising with LTBCoin. In this way, a market is created for purchasers of LTBCoin. E.g. let's say that an ad on the podcast costs 1000 LTBCoin. Prior to the creation of LTBCoin, the cost for an ad on the podcast cost $500. Somebody wanting to place an ad on the podcast will now have to purchase 1000 LTBCoin on the open market (which is basically the Counterparty DEX, although other exchanges could pick it up as well). This creates a rough value of $0.50 per LTBCoin. New LTBCoins will be distributed for several years, although after that distribution period, all coins will have been distributed and the LTBCoin economy will rely on recycled coins (sponsors send coins to Let's Talk Bitcoin to pay for ads, and Let's Talk Bitcoin distributes those coins to contributors). Since LTBCoin lives entirely on Counterparty, there is no mining and essentially no cost to the LTBCoin creators or holders. (Other than BTC transaction fees, of course.) I believe that this is a fantastic idea, and that it could well see widespread adoption throughout the digital media universe. Basically any site which has: A) Contributors and B) Advertisers can create their own coin and follow this model. This guy gets it  We'll also be open-sourcing our platform and tools in the near future, I want to see an ecosystem of these coins sprout up and we intend to seed the field. |
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Hi, Looked at your video the trade time was measured by blocks ! Erm simplify > can you not use a clock / 24hrs ect No. There is no bitcoin clock, only the bitcoin blockchain which has a variance that ranges from seconds between blocks to over an hour. Lacking a clock, you have to count blocks. It's not exact, but it's real and its decentralized. |
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(2) The GUI for trading can be more intuitive. I know you are working on this, and I look forward to the update. Personally I like the GUI at bter.com. You can click on a price in the order book and it fills in the trade form automatically. Click on your balance and it fills out quantity. Buy and sell forms are side by side are on the same page. In counterwallet you could do the same, i.e. on the first page only select asset #1 and asset #2, but not specifying which ones to buy and sell.
(3) When an order matches, the user should immediately get a notice. E.g. "Order Matched. Pending Block Confirmation". Real time feedback is very important for most users.
(4) Dust amounts on escrows accumulate. It would be good to view this amount under "My Account Balances" and redeem it by one click.
These specific points I want to strongly echo, 100% agree. |
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What do you think of setting up a new type of order using XCP that essentially lets anyone do a "kickstarter" style threshold-or-everyone-is-refunded asset sale order?
" I'm buying x TOKEN for y, but only once amount z is bought at the same time."
Those orders would accumulate and then excute all at once, as soon as the goal is reached. Optionally you could put a date your order expires, which is a personal "end of campaign" threshold for each person.
and it would only be possible with an XCP based instrument, so bitcoin would be out and XCP is suddenly the crowdfunding token because it can be escrowed
That would take all the trust off platforms like swarm and coinpowers, and be one of the first real uses of escrowing on the blockchain, and a damn good use for XCP - Bitcoin is the currency, and XCP is the crowdfunding/cryptofinance platform built on top.
Ok, so slight revision the action is "I will buy A of B if C total amount of B is also purchased at the same time. I was sent here by Z" Z is a referrer payment address, it would get 1% or a user defined split of the tokens, which comes out of the crowdfunders side. Basically 99% would be assigned to the sender and 1% would be assigned to the referrer, this would make it very worthwhile to run a site with a selection of campaigns that will attract investment. So now the incentives say that an ideal crowdfunding site should have ALL the projects currently seeking funds who people will actually send money to, because they earn a little of everyone they bring in It is hugely expanded coverage for any but the largest crowdfunding campaign, and the cost is only 1%. There is almost no infrastructure or financial or compliance cost because the crowdfunding sites no longer do anything but showcase and individuals even just on a blog can be a "Crowdfunding site" in this model and it's (I believe) the first affiliate program built into a coin - Many of the problems of XCP use right now are caused by the chicken/egg of XCP being a much better currency to use (from a user experiance and cost standpoint), but few people having it and the standard way of acquiring it (for Bitcoin) is one of the clunkiest types of tx in the Counterparty system. Soon you'll be able to open a counterwallet, send it some bitcoin, send some of the bitcoin to a Vending machine address which will send you back XCP at the days rate. That is days or weeks away, hang tight. |
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One of the reasons that there is not a rush of outside developers creating Counterparty add-ons...
You may not see them yet, but this statement is very incorrect. |
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What do you think of setting up a new type of order using XCP that essentially lets anyone do a "kickstarter" style threshold-or-everyone-is-refunded asset sale order?
...and it would only be possible with an XCP based instrument, so bitcoin would be out and XCP is suddenly the crowdfunding token because it can be escrowed
... and XCP is the crowdfunding/cryptofinance platform built on top.
I like the general idea but it doesn't solve the problem of having to convert to XCP first. If you had to do BTC -> XCP -> SWARM you've increased difficulty rather than decreased it (although for repeat participants it could be a very significant net benefit). Very much like the idea of programmable escrow regardless. I'm not trying to solve the convert to XCP problem, that will be solved by centralized exchanges or even BTC -> XCP vending machines. You can't do this with BTC in the same way, it's just not possible. It is possible with XCP, and it is a very desirable feature, so I think just because XCP is difficult to acquire now doesn't mean we're not about to surpass those artificial barriers. |
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What do you think of setting up a new type of order using XCP that essentially lets anyone do a "kickstarter" style threshold-or-everyone-is-refunded asset sale order?
" I'm buying x TOKEN for y, but only once amount z is bought at the same time."
Those orders would accumulate and then excute all at once, as soon as the goal is reached. Optionally you could put a date your order expires, which is a personal "end of campaign" threshold for each person.
and it would only be possible with an XCP based instrument, so bitcoin would be out and XCP is suddenly the crowdfunding token because it can be escrowed
That would take all the trust off platforms like swarm and coinpowers, and be one of the first real uses of escrowing on the blockchain, and a damn good use for XCP - Bitcoin is the currency, and XCP is the crowdfunding/cryptofinance platform built on top.
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I wrote earlier about how difficult it was for me to buy an asset (JPJA) using Counterparty (via counterwallet.co). First, it was very confusing just to figure out how to actually place an order, then it was confusing to figure out the quantity/price I was supposed to pay (it told me it could not automatically quote an exact price for me)
I had the same confusing experience. It seems to me that technically the exchange works well (at least when BTC is not involved) and all information is logically correct. But I believe confusion appears because the prices are displayed inversely to how we intuitively see them. If I for example want to buy SWARMPRE for XCP, the confusion starts on the second page. Where it says "Buying XCP" I think it is more user friendly to write "Selling SWARMPRE" although these two statements are equivalent. And where the unit price "21.5 SWARMPRE/XCP" it would be better with "0.0465 XCP/SWARMPRE". Where it says "Selling XCP" it should say "Buying SWARMPRE" at price 0.0462. Now you see that the highest buy offer is a little bit below the lowest ask (sales offer), just as we are used to from financial markets. Since Counterparty enables barter, it will not always be obvious which asset is the currency, e.g. is it better to write 2 apples/orange or 0.5 orange/apple? For Counter wallet, however, I am of the opinion that in transactions involving XCP or BTC these should always be used as the currency. I totally agree with this post! |
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James, I just checked your recent posts - You have four in this thread since april, I've quoted them all below. I'm really confused, you said you'd been fighting but you've responded to me more than anyone else, much less the devs. So again, what are you talking about? Am I crazy? Do I not see all the posts on your history? https://bitcointalk.org/index.php?action=profile;u=177323;sa=showPosts;start=0I dont intend to sell below market. I am just noticing the XCP core devs are doing stuff they never did before, eg. talking in a way about NXT that makes people believe the wrong thing about NXT. I dont know what you call that, but that seems kind of attacky. I am just defending. If you read back through the recent posts you will see that specific mention is made of these issues, I am not just making it up out of my paranoia!
As one of the largest NXT holders now, things like that affect me. Now when I have a meaningful stake in XCP and the XCP core devs are doing this, then it is clear my hopes that the two platforms can work together will not have much of a chance of happening. So, that means it is going to be NXT vs XCP in some sense and I dont want to be in a conflicted situation where part of me wants XCP to succeed since I have so much of it, but of course I have more NXT so that part wants NXT to succeed
I guess when I realized that XCP is changing its tune from the early days, I decided to divest.
James
P.S. I have been working as hard as I can, I only left the confines of the NXT forum because people asked for help to defend NXT against the XCP core devs who were trash talking it. I read and reached a conclusion. If only they didnt trashtalk NXT, then this would not have happened.
Where did a core XCP dev spread fud about NXT? I saw BlueMeanie being inflammatory and it sounds like there is some drama going on between him and the NXT community, but I'm unclear why suddenly a "WELL, NXT FOLK ARE GONNA LEAVE" moment. Did I miss something? Edit: I just noticed this At the 56:50 mark: http://letstalkbitcoin.com/ltb94-privacy-and-the-arts/ complete FUD and untruths...and thousands of people repeat the same thing confidently like parrots...Nxt is significantly different than peercoin POS, any other proof of stake and the fundamental the code base which is written in java. Nxt is has decentralized as you can get from marketing, development and all other initiatives. Shame on Adam for passive action in letting that smear fly by...You devs have to realize your power and take better responsibility! 1 - I'm not a dev 2 - I have no idea if what he's saying is true or not, I'm speaking to him as an expert - you'll notice I was suprised to hear him say that, it was new information to me. 3 - I publicize my personal email on literally every episode including that one, and I didn't recieve a single note in complaint about this. Why complain here, but not to the person who can actually help? 4 - Are you saying he's wrong? NXT does not use Checkpoints currently or in the past? I really like NXT but honestly you guys smell conspiracy EVERYWHERE and it gets annoying. People are just busy, we don't have fact checkers hell I don't have ANY employees so i'm a little curious what you'd have me do. NXT has an open invitation to do an interview or join us for a host segment on LTB, but you guys don't have many confident speakers I guess as I've had no takers outside of the early and not very compelling interviews with Tai Zen (which ran) and aaron (which didn't). If you want people to know whats going on with your project, explain it to them in a way they can understand. Otherwise it's confusing to people on the outside and annoying to people on the inside. Peercoin has checkpoints and also does some PoS NXT is PoS, therefore it must use checkpoints Except it never has! Nobody bothers to actually check with anyone that knows about NXT. The "nothing at stake" problem has never been solved by NXT. Well, if somebody can explain to me how the nothing at stake attack actually would work on NXT where you need to have a stake to be able to forge the block, maybe there is something to it. However, when I write a thoughtful response to how NXT does have something at stake, all I get is that has nothing to do with mining on multiple chains. People are so convinced NXT has to be bad because less than 100 people got the entire initial stake. However, it turns out that this dynamic could have been one of the critical factors in its success. The reason is that if you have a million dollars worth of anything, you tend to work pretty hard to protect it, nurture it, grow it. That is what happened. A culture of helping each other and generous grants are commonplace. This all stems from the precedent BCnext set by simply giving it away at the beginning. OK, he charged a symbolic 21 BTC, which was his goal to get 1 millionth of the total possible BTC, that is one reason it stopped early. he could have certainly been a better communicator. However none of that detracts from the fact that NXT works. James Where did a core XCP dev spread fud about NXT? I saw BlueMeanie being inflammatory and it sounds like there is some drama going on between him and the NXT community, but I'm unclear why suddenly a "WELL, NXT FOLK ARE GONNA LEAVE" moment. Did I miss something?
things like: https://bitcointalk.org/index.php?topic=395761.msg7405522#msg7405522cityglut's "That has nothing to do with mining on multiple chains at once." is quite telling. There is no mining in NXT and you can't just spawn off a zillion SHA256 hashes to increase the chance of forging the next block. So, instead of addressing the points I raised (that was my text used in another context) he just dismisses it as saying it has nothing to do with mining multiple chains at once. Well, see cityglut is right. What I describe has nothing to do with mining on multiple chains, which is the whole premise of "nothing at stake". What I describe is what is required for NXT forging and cityglut admits it has nothing to do with mining on multiple chains. So how does the nothing at stake undermine NXT if NXT has nothing to do about mining on multiple chains? See, no logical thought being used, but from an authoritative core dev of a second gen coin quite a powerful FUD. He also said NXT has a central leader. That is how far out of touch he is about NXT, but that doesnt stop him from making disparaging remarks about NXT. My conclusion is that something has really rattled cityglut. He is not this guy, but yet he is doing this. So, I feel it is time I end my XCP investment. James I burned about 0.45% of XCP I have been a quiet supporter but now that the XCP devs are making statements against other coins without actually understanding the details, well I can no longer support XCP. Things must be getting pretty desperate if core devs have to start trash talking NXT. WTS 12000+ XCP. I dont have exact count they are still in the original burner accts, 12 full BTC burns toward the end of the burn period. There is so little liquidity for XCP, I dont want to hurt the price by dumping it on the exchanges. I just do not want to have any more XCP when the core devs are resorting to repeating unsubstantiated FUD without even engaging in a technical discussion. "nothing at stake" rhymes with "proof of stake" so it must be true. Well, that is no way for technical leads of a major project to behave. If that is the depth of their thinking, then I worry about what else they have skimped on. PM me if you want to buy at least one burner acct. James P.S. for those who want to actually analyze some part of NXT http://www.docdroid.net/cckd/forging0-4-3.pdf.html has some math, but it doesnt rhyme. |
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Where did a core XCP dev spread fud about NXT? I saw BlueMeanie being inflammatory and it sounds like there is some drama going on between him and the NXT community, but I'm unclear why suddenly a "WELL, NXT FOLK ARE GONNA LEAVE" moment. Did I miss something? Edit: I just noticed this At the 56:50 mark: http://letstalkbitcoin.com/ltb94-privacy-and-the-arts/ complete FUD and untruths...and thousands of people repeat the same thing confidently like parrots...Nxt is significantly different than peercoin POS, any other proof of stake and the fundamental the code base which is written in java. Nxt is has decentralized as you can get from marketing, development and all other initiatives. Shame on Adam for passive action in letting that smear fly by...You devs have to realize your power and take better responsibility! 1 - I'm not a dev 2 - I have no idea if what he's saying is true or not, I'm speaking to him as an expert - you'll notice I was suprised to hear him say that, it was new information to me. 3 - I publicize my personal email on literally every episode including that one, and I didn't recieve a single note in complaint about this. Why complain here, but not to the person who can actually help? 4 - Are you saying he's wrong? NXT does not use Checkpoints currently or in the past? I really like NXT but honestly you guys smell conspiracy EVERYWHERE and it gets annoying. People are just busy, we don't have fact checkers hell I don't have ANY employees so i'm a little curious what you'd have me do. NXT has an open invitation to do an interview or join us for a host segment on LTB, but you guys don't have many confident speakers I guess as I've had no takers outside of the early and not very compelling interviews with Tai Zen (which ran) and aaron (which didn't). If you want people to know whats going on with your project, explain it to them in a way they can understand. Otherwise it's confusing to people on the outside and annoying to people on the inside. Peercoin has checkpoints and also does some PoS NXT is PoS, therefore it must use checkpoints Except it never has! Nobody bothers to actually check with anyone that knows about NXT. The "nothing at stake" problem has never been solved by NXT. Well, if somebody can explain to me how the nothing at stake attack actually would work on NXT where you need to have a stake to be able to forge the block, maybe there is something to it. However, when I write a thoughtful response to how NXT does have something at stake, all I get is that has nothing to do with mining on multiple chains.
People are so convinced NXT has to be bad because less than 100 people got the entire initial stake. However, it turns out that this dynamic could have been one of the critical factors in its success. The reason is that if you have a million dollars worth of anything, you tend to work pretty hard to protect it, nurture it, grow it. That is what happened. A culture of helping each other and generous grants are commonplace. This all stems from the precedent BCnext set by simply giving it away at the beginning. OK, he charged a symbolic 21 BTC, which was his goal to get 1 millionth of the total possible BTC, that is one reason it stopped early. he could have certainly been a better communicator. However none of that detracts from the fact that NXT works.James I really think nobody but you guys and some trolls care about this. You are projecting your insecurities onto people who are not articulating them. If NXT is useful, the tokens are valuable. The question is, how useful is it in the context of all the other 2.0 contenders around it. Don't complain about other players, just build and learn as fast as you can. It's always appeared to me thats what you were doing and I look forward to seeing the results. |
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Where did a core XCP dev spread fud about NXT? I saw BlueMeanie being inflammatory and it sounds like there is some drama going on between him and the NXT community, but I'm unclear why suddenly a "WELL, NXT FOLK ARE GONNA LEAVE" moment. Did I miss something?
things like: https://bitcointalk.org/index.php?topic=395761.msg7405522#msg7405522cityglut's "That has nothing to do with mining on multiple chains at once." is quite telling. There is no mining in NXT and you can't just spawn off a zillion SHA256 hashes to increase the chance of forging the next block. So, instead of addressing the points I raised (that was my text used in another context) he just dismisses it as saying it has nothing to do with mining multiple chains at once. Well, see cityglut is right. What I describe has nothing to do with mining on multiple chains, which is the whole premise of "nothing at stake". What I describe is what is required for NXT forging and cityglut admits it has nothing to do with mining on multiple chains. So how does the nothing at stake undermine NXT if NXT has nothing to do about mining on multiple chains? See, no logical thought being used, but from an authoritative core dev of a second gen coin quite a powerful FUD. He also said NXT has a central leader. That is how far out of touch he is about NXT, but that doesnt stop him from making disparaging remarks about NXT. My conclusion is that something has really rattled cityglut. He is not this guy, but yet he is doing this. So, I feel it is time I end my XCP investment. James Here's the quote you linked
For now, we should point out that proof-of-stake mining has inherent problems, which, to my knowledge, neither BCNext nor anyone else in the Nxt community has addressed. In particular, the well-known "nothing at stake" attack, by which miners can mine on multiple blockchains at no cost to themselves; this is in contrast to proof-of-work, where the resources one uses to mine are depleted in the process of mining. "Transparent forging" doesn't solve this problem, and, in any case, transparent forging has not even been implemented yet.
This is what a Nxt dev had to say about the "nothing-at-stake" problem: If you have a computer that can forge a very large number of accounts in parallel without using any CPU and can also fund these large number of accounts without costing any NXT, then sure nothing is at stake
In my experience though you need to fund each separate acct with NXT (wait long enough) and then even a small amount of CPU time, multiplied by millions of accounts, well that seems to take some CPU power after all.
So, if you ignore the millions in NXT fees to create the accounts and the CPU power needed to forge on those millions of accounts, then you can try to monkey around with grabbing all the forging fees.
economically it doesnt make sense as there is NXT at stake. I think the premise of "nothing at stake" is that it rhymes with "proof of stake" so it has to make sense. It seems the assumption is that they can buy an arbitrary amount of NXT for free, so maybe much closer to genesis this would have been an issue, but now it is nonsensical.
That has nothing to do with mining on multiple chains at once. In the context of the conversation he's having with doxy, is he wrong? It seems like he wasn't talking to you, and if I read his post he is correct - What doxy said doesn't have anything to do with multiple chains. Regardless, doesn't it seem much more likely that Cityglut just is very focused on his own project and doesn't know whats up? You seem to say that in your comment but your reaction, rather than trying to correct him is to pose a sorta meaningless threat that you'll sell your stake at a very low price compared to past numbers into a really thin market before anybody understands the value proposition of the token. So I guess you could do that, but I don't see who it hurts but you. Certainly not the devs, and I'm not sure you were even public about your ownership of the tokens (this is the first i've heard) so it's not like they're losing a prominent investor. In this time of a million projects I really encourage everyone to try and not take things personally - We're all too busy with too many projects and the details and niceties fall away. James, you're free to do what you want of course - I'm just trying to understand this as you've always seemed like a rational guy and this feels really bridge-burney over what appears to be a pretty benign misunderstanding that you've chosen to characterize as malicious. What gives? |
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Where did a core XCP dev spread fud about NXT? I saw BlueMeanie being inflammatory and it sounds like there is some drama going on between him and the NXT community, but I'm unclear why suddenly a "WELL, NXT FOLK ARE GONNA LEAVE" moment. Did I miss something? Edit: I just noticed this At the 56:50 mark: http://letstalkbitcoin.com/ltb94-privacy-and-the-arts/ complete FUD and untruths...and thousands of people repeat the same thing confidently like parrots...Nxt is significantly different than peercoin POS, any other proof of stake and the fundamental the code base which is written in java. Nxt is has decentralized as you can get from marketing, development and all other initiatives. Shame on Adam for passive action in letting that smear fly by...You devs have to realize your power and take better responsibility! 1 - I'm not a dev 2 - I have no idea if what he's saying is true or not, I'm speaking to him as an expert - you'll notice I was suprised to hear him say that, it was new information to me. 3 - I publicize my personal email on literally every episode including that one, and I didn't recieve a single note in complaint about this. Why complain here, but not to the person who can actually help? 4 - Are you saying he's wrong? NXT does not use Checkpoints currently or in the past? I really like NXT but honestly you guys smell conspiracy EVERYWHERE and it gets annoying. People are just busy, we don't have fact checkers hell I don't have ANY employees so i'm a little curious what you'd have me do. NXT has an open invitation to do an interview or join us for a host segment on LTB, but you guys don't have many confident speakers I guess as I've had no takers outside of the early and not very compelling interviews with Tai Zen (which ran) and aaron (which didn't). If you want people to know whats going on with your project, explain it to them in a way they can understand. Otherwise it's confusing to people on the outside and annoying to people on the inside. |
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