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Author Topic: NEM Technical Reference (White paper) Released!!!!!!  (Read 2634 times)
kelsey
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May 19, 2015, 02:54:23 PM
 #21

just saying one particular exchange at this point in time isn't fully exploiting its potential position doesn't say at all that exchanges can't exploit this, and sooner or later they will.

Why are you referring to this non-issue as an exploit when the decision to transfer (and/or store) their property to the exchanges is made solely by the XEM holders themselves?   Undecided

well it is an issue, as non dumping types who support the network are disadvantaged.

often those sending to the exchanges aren't usually caring about the best interest of the network.

also with any crypto points of centralisation such as exchanges aren't in the balance of things a positive thing for currencies attempting to be truly p2p (though i can understand the benefits for the crypto community in its infancy).


you can not seriously call an exploit where a non holder can hold coins stake them and increase network participation based on other holders coin a non issue. especially when on the most part people gave them the coins to sell rather then to use for their own gain.

no exchange should be staking coins, thats a given in the crypto community, its bad for any POS coin.

tbh there is no point in the whole NEM equation if you want to pick and chose what is fair network participation, it defeats the main point of having a hard coded mathematical equation as the backbone of trust in a network.

(i must give NEM credit though you did solve a password software exploit, present in similar systems that I won't go into here, that's a pleasant surprise i have to admit, and shows there was some competence in atleast one of the devs).




kelsey
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May 19, 2015, 03:48:46 PM
 #22

you can not seriously call an exploit where a non holder can hold coins stake them and increase network participation based on other holders coin a non issue. especially when on the most part people gave them the coins to sell rather then to use for their own gain.

Again (for the last time)...  who decides whether their property will be held by an exchange or not?

Answer the above (honestly) and you'll see that there is no exploit here.


If anything...  you should be stressing how important it is for people to hold their coins locally and harvest as much as possible.  With NEM you don't even need to run a node for crying out loud.

Exchanges harvesting can only become an actual threat to the network if (and only if) XEM holders allow for unacceptable harvesting percentages in favor of one (1) exchange to occur.  


Potential XEM holder stupidity...  Yes.   Exploit by the exchanges...  No.

answer; people working in their own best interest and not that of the network.

even in this case thats not the point, it is an exploit, because genuine users who wish to support the network are unfairly disadvantage by those who are out for their own interest.

i mean the whole point in NEM twigging existing POS system was to make it fairer for genuine network participates over hoarders, and its twig now makes the exchanges (who aren't even genuine holders) now have a huge advantage over genuine network participants.

1 step forward 1 step back, nil gain over existing rich get richer POS.
Wheatclove
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May 19, 2015, 04:33:02 PM
 #23

Since when do exchanges stake?
I am the guy
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May 19, 2015, 10:48:41 PM
 #24

great questions and answers here. great job Kodty

JohnnyBTCSeed
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May 21, 2015, 01:52:29 PM
 #25

so kodtycoon, you're an nxt guy as well right? Can you explain the differences between nem and nxt. (am aware that it is diff code).

If poi is so great then why couldn't nxt just adopt it? What can nem do that nxt can't? (I don't buy the nem is fairer distribution argument, and am not trying to argue that atm)
TaunSew
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May 21, 2015, 02:03:57 PM
 #26

so kodtycoon, you're an nxt guy as well right? Can you explain the differences between nem and nxt. (am aware that it is diff code).

If poi is so great then why couldn't nxt just adopt it? What can nem do that nxt can't? (I don't buy the nem is fairer distribution argument, and am not trying to argue that atm)

NEM and NXT both deaded, not even Chechen mountain tribe not trade their 3rd daughter for it...

Real difference is ascertained by quality of code.  For many years I worked on gaming modifications, for 12 years now, and NEM code is among best in crypto...  You know this especially when you write and look at scrypts, commands, et cetera - I was like NEM code so clean and easy to follow, just like professional studio!  NXT code I read was dogs breakfast in comparsion..  (many ppl thought this so NXT capitalization decreased after open source..)

but NEM nobody buy it...  they rather buy $hitcoins..

As developer / programmer I / you can appreciate the QA (quality control) but I still see nothing to wow me or anyone yet..

Jguar needs to get that fashion one / big foot stuff into NEM. 

There ain't no Revolution like a NEMolution.  The only solution is Bitcoin's dissolution! NEM!
jabo38
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May 21, 2015, 03:20:37 PM
 #27

so kodtycoon, you're an nxt guy as well right? Can you explain the differences between nem and nxt. (am aware that it is diff code).

If poi is so great then why couldn't nxt just adopt it? What can nem do that nxt can't? (I don't buy the nem is fairer distribution argument, and am not trying to argue that atm)

CfB is a core dev at NXT, some think he is the one that actually came up with POS as it is in NXT, but if not he is definitely on record as leading NXT for the first 6 months.  

Here are his words.  https://bitcointalk.org/index.php?topic=654845.msg10688964#msg10688964  And interestingly enough, since NEM's white paper came out, he hasn't logged into any accounts but instead left a comment that he was getting back to work coding on JINN.  

I think CfB is a pretty amazing programmer, but probably not the best person for a review in this situation as he has already stated that if POI works he will copy it and put it in NXT.

This is correct, but priority changed a little, I'll put it into Jinn-related tech.

Daedelus
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May 25, 2015, 04:43:21 PM
 #28

(many ppl thought this so NXT capitalization decreased after open source..)

Nxt was never closed source.

CfB is a core dev at NXT,
Wrong, not for a long while. He was under contract until Apr 2014, then worked 50/50 for Nxt/own projects (most likely Jinn). Then went off line to work solely on Jinn.

Quote
Here are his words.  https://bitcointalk.org/index.php?topic=654845.msg10688964#msg10688964  And interestingly enough, since NEM's white paper came out, he hasn't logged into any accounts but instead left a comment that he was getting back to work coding on JINN.  

I think CfB is a pretty amazing programmer, but probably not the best person for a review in this situation as he has already stated that if POI works he will copy it and put it in NXT.

This is correct, but priority changed a little, I'll put it into Jinn-related tech.
If being the operative word. If it works, we will all benefit. Fingers crossed!


Aww, I missed you guy! Cheesy Cheesy Cheesy
Agestorzrxx
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May 26, 2015, 11:12:53 AM
 #29

so kodtycoon, you're an nxt guy as well right? Can you explain the differences between nem and nxt. (am aware that it is diff code).

If poi is so great then why couldn't nxt just adopt it? What can nem do that nxt can't? (I don't buy the nem is fairer distribution argument, and am not trying to argue that atm)

NEM and NXT both deaded, not even Chechen mountain tribe not trade their 3rd daughter for it...

Real difference is ascertained by quality of code.  For many years I worked on gaming modifications, for 12 years now, and NEM code is among best in crypto...  You know this especially when you write and look at scrypts, commands, et cetera - I was like NEM code so clean and easy to follow, just like professional studio!  NXT code I read was dogs breakfast in comparsion..  (many ppl thought this so NXT capitalization decreased after open source..)

but NEM nobody buy it...  they rather buy $hitcoins..

As developer / programmer I / you can appreciate the QA (quality control) but I still see nothing to wow me or anyone yet..

Jguar needs to get that fashion one / big foot stuff into NEM. 
The thing why NEM doomed is because the beginning of NEM is a liar, you can't blame people.
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