NXT :: descendant of Bitcoin - Updated Information

[daysi]

Forging is future : https://nextcoin.org/index.php/topic,3652.msg34665.html#msg34665

 

[EvilDave]

Thanks once again 7017504655955743955
This is really an awesome community!!

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?

Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

[dave5555]

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

http://www.youtube.com/watch?v=JF1chLj1fro&t=18s

Nice +1 

[EmoneyRu]

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?
Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

First part is sooo easy.

[xyzzyx]

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

You might want to keep an eye on Low End Box for deals.

Opticalcarrier/forkedchain recommends BudgetVM.com's 1024MB VPS for $4.99/month for setting up low-cost nodes.  I pay to keep the lights on for one of his VPSs at BudgetVM (xyzzyx.vps.nxtcrypto.org) and it was $4 a month for a full year paying up-front.

[xyzzyx]

who ever it is he is spreading the wealth, think he is filling orders at bter also.

CHEAP NXT but not for long...

Damn.  I never have BTC at the right time.

[EvilDave]

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?
Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

First part is sooo easy.

I love having smarter people than me around here.
Looks like 40+ donations, from 1000-5000 NXT. Nice one....!

[Anon136]

7017504655955743955 you rock man! thanks so much!

*edit* also 2037401990853753795 who ever you are also thank you so much. you also are awesome!

*edit2* google search reveals 2037401990853753795 is salsacz. thanks buddy. what was that for specifically?

[lyynx]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

[grandpa_seth]

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

I'm running a non-hallmarked VPS 24/7 on Amazon EC2, monthly costs were $1.38 for January, and are $0.34 for Feb. Costs fuck all, basically.
Looks like hosting costs are dropping as Jean-Luc works his magic. If version 0.8 also has such low overhead, I'll fire up a few more EC2 instances at the begining of March.

I think that forging should stay as it is...big holders get bigger rewards. It's PoS, live with it.
However: we need to encourage a healthy NXT network, now and in the future, and forging income alone doesn't seem to be enough right now to motivate people. We need some way to make contributing to the network at least slightly profitable for everyone, not just guys with enough to forge.

When Nxt goes to 1 dollar soon. Even small holders will forge if for no other reason than to secure the health of the network to get to 10 dollars.

[xyzzyx]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

Edit: it has been brought to my attention that BCNext hadn't used the term -- the community came up with it early on.

[rickyjames]

I...STILL...DON'T....GET....IT.

Unlike Bitcoin, unlike DOGE, unlike all the other crap coins that are out there that I ran away from to get here, NXT IS A ZERO SUM GAME.  There are no new coins being created.  A coin that goes in one NXT forger's pocket has to come out of another NXTer's pocket, either from a NXT transaction fee payer's pocketor from another NXT forger's pocket.  HAS TO.

So for ANY scheme is concocted that pools NXT to forge,  IF that scheme claims a pool member will get some LARGER proportion of forged coins than they would get from a true 100% Proof of Stake system that NXT runs by now, THEN BY DEFINITION some other pool member is getting a SMALLER proportion than they would by acting alone.   So explain to me who is getting shafted under this new scheme?

Not that your explanation matters, because with falling transaction fees, I doubt anybody can profitably support amortizing the purchase cost of a forging node and its electricity costs under ANY scheme, including the one NXT is operating under right now.

You wanna mine free coins and get rich, go see DOGE.  You wanna try to experiment and create a more sustainable system that faces bigger challenges than it seems at first glance, stick around for this fun roller coaster ride called NXT.

ok i just trying to help

I'm not saying you can't help and I want you to stick around and try to help.  I'm just saying that I am a numbers guy and I would appreciate seeing the full picture of who gets more rewards and who gets less under any idea you propose.

[rickyjames]

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

+1000.  This is a real problem for anybody learning about NXT for the first time.  There is a valid and legitimate use in English for "forger" as being "one who heats and works metal", like a blacksmith.  But the FAR MORE COMMON use of "forger" in English is "one who creates fake documents, particularly financial ones".

[Anon136]

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

I'm running a non-hallmarked VPS 24/7 on Amazon EC2, monthly costs were $1.38 for January, and are $0.34 for Feb. Costs fuck all, basically.
Looks like hosting costs are dropping as Jean-Luc works his magic. If version 0.8 also has such low overhead, I'll fire up a few more EC2 instances at the begining of March.

I think that forging should stay as it is...big holders get bigger rewards. It's PoS, live with it.
However: we need to encourage a healthy NXT network, now and in the future, and forging income alone doesn't seem to be enough right now to motivate people. We need some way to make contributing to the network at least slightly profitable for everyone, not just guys with enough to forge.

When Nxt goes to 1 dollar soon. Even small holders will forge if for no other reason than to secure the health of the network to get to 10 dollars.

We just need a client that makes it so that there is no cost to forging. Then even if your chances are small there will still even then be no reason not to participate. All other things being equal a 0.001% chance to win 1000 dollars is better than a 0.000% chance of winning 1000 dollars even though 0.001% is a pretty slim chance.

[opticalcarrier]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

[rickyjames]

NXT FUNDING COMMITTEE VOTE IS COMING MARCH 1

Remaining eligible nominees with as-yet undeclared intentions (PM me if you want off this list):

^[GS]^, 2Kool4Skewl, Arckam_(frmelin), bitcoinpaul,  buybitcoinscanada
ChuckOne, CIYAM Open, Cointropolis_JustabitTime, Come-from-Beyond
Damelon, davethetrousers, drevil,  EvilDave, ferment, Fry, hughmanwho, Jean-Luc,
jl777, Klee, landomata, laowai80,  msin, mww
nexern, opticalcarrier, Pandaisftw,  PeercoinEnthusiast, pinarello, Pouncer,  Ricot, salsacz
SecondLeo, smaragda,  Uniqueorn, VanBreuk,  ZeroTheGreat


Something Zahlen said:  A candidate does not need to be good at writing English. Some candidates may not have English as their mother tongue. If you're voting, don't confuse lots of writing for ability to judge the worth of a project. Remember that ultimately the committee's job is to decide which projects get funded.

If you are on this list and want to be on a NXT funding committee, go here:

https://bitcointalk.org/index.php?topic=479167.msg5280476#msg5280476

Background:

https://bitcointalk.org/index.php?topic=345619.msg5280786#msg5280786

Good luck to these nominees who have declared themselves candidates:


NXTmarketingfund: allwelder, Damelon,  Mario123, Asian Prepper, joefox, brooklynbct, CoinTropolis_NiftyNikel
NXTtechdevfund: EmoneyRu, Anon136, l8orre, abuelau, chanc3r
NXTinfrastructurefund: rickyjames


Yeah, you may have seen this before.  I'll be putting it up every ten pages or so.  It's one of those "legitimate, transparent process" things.

[grandpa_seth]

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

I'm running a non-hallmarked VPS 24/7 on Amazon EC2, monthly costs were $1.38 for January, and are $0.34 for Feb. Costs fuck all, basically.
Looks like hosting costs are dropping as Jean-Luc works his magic. If version 0.8 also has such low overhead, I'll fire up a few more EC2 instances at the begining of March.

I think that forging should stay as it is...big holders get bigger rewards. It's PoS, live with it.
However: we need to encourage a healthy NXT network, now and in the future, and forging income alone doesn't seem to be enough right now to motivate people. We need some way to make contributing to the network at least slightly profitable for everyone, not just guys with enough to forge.

When Nxt goes to 1 dollar soon. Even small holders will forge if for no other reason than to secure the health of the network to get to 10 dollars.

We just need a client that makes it so that there is no cost to forging. Then even if your chances are small there will still even then be no reason not to participate. All other things being equal a 0.001% chance to win 1000 dollars is better than a 0.000% chance of winning 1000 dollars even though 0.001% is a pretty slim chance.

+1440

[xyzzyx]

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

You've piqued my interest.  Do you know where it was first used in connection with Nxt?

[Eadeqa]

I don't see any logical reason to change forging. We spent so much efforts explaining that Nxt is not about forging and the income from it. We are also contemplating lowering down the fees and making forging income insignificant. So all this stuff about big stakeholders' forging will become irrelevant.

That's a good point. We should lower the fees to 0.1 then eventually lower it to 0.01. The point of forging should not be to make money, but to protect the network -- especially if you are invested in Nxt, it's an incentive  to protect it.

[naurisdede]

Thank you dear Mr. Stackeholder, what a generous move!!