NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

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.

[rriky92]

Anyone got 0.7.5 successfully running on a RasPi?
Mine is crashing everytime because of memory issues.

Mine is running!

[Drexme]

Please chime in: https://nextcoin.org/index.php/topic,4053.msg38126/topicseen.html#msg38126

[chanc3r]

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.

[intel]

Did not find it within forum, were there any suggestions how to implement anonymous payments (transactions and balances not visible in blockchain)?

[Drexme]

I'm a nobody here, but I also kindly ask you to calm down.
Don't befoul this thread with your aggressive wording...

Go get bossed around by Graviton & Drexme then... LEAVE ME THE FUCK ALONE!!!    

I'm beginning to think you're just a troll

[punkrock]

>>>>>>>>>>>>>>> PLEASE VOTE! <<<<<<<<<<<<<<<

Unregistered users are allowed up to 3 votes per hour, whilst registered users are allowed 6 votes per hour!

Please quote me, share on Twitter, Facebook, Reddit... thanks!

Go, go, go! Please share the link with all big websites / admins / social groups you know. 6 votes per hour = ~36 votes per day per NXT'r. 100 NXT'rs = 3600 votes per day. Let's go!

[bitmadaboutcoin]

do the forging pools work? is it worth doing with 15k nxt?

[Drexme]

It wasn't an attack on Graviton or Dgex

I just heard rumors about the fees

I wan't people to chime in on an exchange I could use

[opticalcarrier]

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

[Drexme]

I'm beginning to think you're just a troll

SHUT THE FUCK UP  A L R E A D Y!!!    


Edit:  The Nxt community needs to rip this PSYCHOPATH a new asshole...  ENOUGH!?!?!   

You're the only one acting like a psychopath.

Everyone is calm except yourself

[ChuckOne]

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.

I just say: ghash.io. Nobody thought Bitcoin would become more centralized. But it did.

The same holds true for NXT. Pooling has already begun and it will continue.

[bitcoinpaul]

omg drexme you are truly fucked up in your head

sry

[ChuckOne]

do the forging pools work? is it worth doing with 15k nxt?

@CfB

Do you see what I mean. People are willing to give their forging power away.

[Drexme]

omg drexme you are truly fucked up in your head

sry

How am I "fucked up in the head"?

[ChuckOne]

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.

[bitmadaboutcoin]

I'm beginning to think you're just a troll

SHUT THE FUCK UP  A L R E A D Y!!!    


Edit:  The Nxt community needs to rip this PSYCHOPATH a new asshole...  ENOUGH!?!?!   

You're the only one acting like a psychopath.

Everyone is calm except yourself

jesus just shag each other and get it over with... sexual tension between you is obvious! go beat the monkey or something lol

[ChuckOne]

omg drexme you are truly fucked up in your head

sry

How am I "fucked up in the head"?

Could you argue out via PMs, please?

[Damelon]

omg drexme you are truly fucked up in your head

sry

How am I "fucked up in the head"?

Shall we keep this focused to the part where this actually gets settled instead of namecalling from both sides?

[igmaca]

NXT transparent forging

Will Leave without arguments people maintaining that in nxt "the rich get richer and the poor get poorer"
Will Leave without arguments people maintaining that POS is not so sure than POW if eventually the number of nodes forging is concentrated in a few pools.

a) funds must stay in the Bob account own
b ) forging power should remain in the node where this self Bob.

Instead the commission of forging of the account Bob should go to the "transparent" pool and the pool manager split the commission forging in proportion to the amount of funds from the accounts that were at that time in the pool .

I do not know if this is technically very difficult to implement but it is clear that if not resolved little by little will create pools and concentrating on a few network nodes and so understand a network more vulnerable to attack .

I think the pool is very good solution for the small investor gives "fairness to the system not equal " but forging power should remain in the node where this account with funds for the sake of the security of the network.