NXT :: descendant of Bitcoin - Updated Information

[landomata]

Maybe Nxt should aim for a more conservative 100 TPS to avoid ending up looking very silly in a few months time.

100 TPS is a good number too. After we test this rate we will see if it's feasable to add one zero more.

100 TPS is still a lot of transactions...8.64 million in 24 hours.

1NXT each...

That's where service providers comes in subscription based fees charged on a per. byte, per. day or even per transaction basis....this is what I gained from my talks with Cfb.

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[bitcoinpaul]

U'll send ur "effective balance" to another account.

Right, this should be implemented in account control.

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

[Come-from-Beyond]

Blockchain pruning / minimization is for survival.

U should undestand that everything is in ur own hands. Pruning is not a rocket science. Just make a snapshot at some block height and use it as Genesis Block 2.

[Come-from-Beyond]

Too late 4 what?

For dump. Emule's deeds don't follow his words, I bet I lose nothing if ignore his further posts.

[Come-from-Beyond]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

[Isildur23]

I only have 800,000 NXT to dump and we r below 0,00005.

When I get back I will do this so i was polite warning you all.


oh and on vicrurex 90,000 NXT and we r below 0.00005 but that is to easy.

bye bye

Too late. Good bye.

Too late 4 what?

Come-from-Beyond told him (2 days ago) that if he doesn't dump in the next 2 days, he will ignore him. Emule keeps saying that he will dump for ages lol
Edit: Damned, CFB is so fast

[bitcoinpaul]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

edit: marketing wise, we should shift from "smartphone is forging" to "i can forge all the time without electricity". the implication is, that critics could state something like "omg, everyone is leasing their forging power. we have a 95% attack"

Wrong?

[BitcoinForumator]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

[Come-from-Beyond]

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

True. But after someone implements Parallel Chains this conclusion will become false.

[CIYAM]

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

In fact I'd say that it's no different to operating an SPV client on a smartphone for Bitcoin (and is perhaps even less secure than that).

So - another point to those doing the marketing is probably going to be "forget the RPi and other tiny computers also".

@CfB - how will parallel chains help the situation?

[bitcoinpaul]

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

True. But after someone implements Parallel Chains this conclusion will become false.

I like the concept of parallel chains. But maybe I don't understand correctly. We only have parallel chains for different purposes, like Transactions, Messages, Porns. Right? Or do we split "transactions" to different chains? And please no "the community decides" answer How could this help?

[pinarello]

At the moment our current level is only 0.01 TPS so we have a long way to go.

Indeed - so I don't think there is any need to panic about getting the blockchain shrinking done overnight either.

I am more concerned with marketing campaigns that end up becoming a PR disaster due "ridiculously over optimistic" promises.

A product that delivers its promises is respected much more than one that "promises the moon" but never actually delivers.

+1000000

[landomata]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

Bitcoin is at 7 TPS ...smartphones can easily handle that....I think high end smartphones (Note 3 or Iphone 5S) can easily handle 1000 TPS....if you have fast internet.

[rickyjames]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

[okaynow]

Off Topic:

Anyone with working knowledge of greek language and crypto here?
translated: Yπαρχει κανείς εδω πoυ να γνωρίζει ελληνικά και αρχές κρυπτoγραφίας?

TIA
-Fo-

[bitcoinpaul]

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

In fact I'd say that it's no different to operating an SPV client on a smartphone for Bitcoin (and is perhaps even less secure than that).

So - another point to those doing the marketing is probably going to be "forget the RPi and other tiny computers also".

@CfB - how will parallel chains help the situation?

This could be disastrous.

[CIYAM]

Bitcoin is at 7 TPS ...smartphones can easily handle that....I think high end smartphones (Note 3 or Iphone 5S) can easily handle 1000 TPS....if you have fast internet.

Maybe so - but 300GB of storage?

[rickyjames]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

Bitcoin is at 7 TPS ...smartphones can easily handle that....I think high end smartphones (Note 3 or Iphone 5S) can easily handle 1000 TPS....if you have fast internet.

Do you know for a fact that a NXT forging node can operate without having a local blockchain copy of 300 GB?  I don't know that, and nobody has told me that.  Somebody tell me that.  And my smartphone doesn't have 300 GB of storage.  And I couldn't afford to load that much data over the air anyway just to forge 1 NXT.

[Come-from-Beyond]

I like the concept of parallel chains. But maybe I don't understand correctly. We only have parallel chains for different purposes, like Transactions, Messages, Porns. Right? Or do we split "transactions" to different chains? And please no "the community decides" answer

U can split any way u wish. By category, by region, randomly (deterministic random must be used)... Master chain is the only chain that must be used by every node.

[bitcoinpaul]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

Bitcoin is at 7 TPS ...smartphones can easily handle that....I think high end smartphones (Note 3 or Iphone 5S) can easily handle 1000 TPS....if you have fast internet.

Do you know for a fact that a NXT forging node can operate without having a local blockchain copy of 300 GB?  I don't know that, and nobody has told me that.  Somebody tell me that.  And my smartphone doesn't have 300 GB of storage.

I think you need the main chain.

And guys, it is not about "omg, we never need 1000 TPS. this is way too much".

It is about:

"Hello, this is Nxt. If you want to kick visa in the ass, here we are. Decentralized, capable of making 1000 TPS. Fuck visa".