NXT :: descendant of Bitcoin - Updated Information

[pinarello]

Why are the confirmations so slow?
Been waiting 70 hours now to get started on mining, and I've only got 48 confirmations so far, even got down to 47 now.
If I need 900 confirmations I'll need to wait an additional 53 days.

Any way to speed this up?

maybe you disconnected somehow from the peers.

issue a restart of the client.

Pin

[1714509568]

1714509568

[1714509568]

1714509568

[pinarello]

IMPORTANT:

people please go vote for:


logo
https://nextcoin.org/index.php/topic,6.120.html


symbol
https://nextcoin.org/index.php/topic,707.0.html


tagline
https://nextcoin.org/index.php/topic,692.0.html


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[Syth]

Why are the confirmations so slow?
Been waiting 70 hours now to get started on mining, and I've only got 48 confirmations so far, even got down to 47 now.
If I need 900 confirmations I'll need to wait an additional 53 days.

Any way to speed this up?

maybe you disconnected somehow from the peers.

issue a restart of the client.

Pin

Ty, now I'm at 125 confirmations.

[crazybonkers]

Observation regarding Mining/Refining.

Is it true to say that Nxt user's who only invest in a few hundred or even a few thousand or even a few hundred thousand Nxt have little to no chance of Mining/Refining any Nxt? Now or in the future?

The reason for my observation and question is not to moan but to get a realistic view on what is the incentive for new users to buy Nxt. I have a few hundred thousand Nxt and have not made any addition Nxt via Mining/Refining, but have kept the client running 24/7

When Nxt starts to take off and the price of Nxt rises, I doubt the average user will be able to buy 100,000's of Nxt. I also assume that most users that buy into Nxt would assume they will be able to earn interest via Mining/Refining? which is the reward for running the java client?

Is this how Nxt will always be? or will the balance of Mining/Refining power change over time?

Just thoughts...   

[pandaisftw]

Observation regarding Mining/Refining.

Is it true to say that Nxt user's who only invest in a few hundred or even a few thousand or even a few hundred thousand Nxt have little to no chance of Mining/Refining any Nxt? Now or in the future?

The reason for my observation and question is not to moan but to get a realistic view on what is the incentive for new users to buy Nxt. I have a few hundred thousand Nxt and have not made any addition Nxt via Mining/Refining, but have kept the client running 24/7

When Nxt starts to take off and the price of Nxt rises, I doubt the average user will be able to buy 100,000's of Nxt. I also assume that most users that buy into Nxt would assume they will be able to earn interest via Mining/Refining? which is the reward for running the java client?

Is this how Nxt will always be? or will the balance of Mining/Refining power change over time?

Just thoughts...   

https://bitcointalk.org/index.php?topic=350020.0

Old post, with info that is outdated, but still the same concept. Though, I expect in the future the average base target value will be much lower, so lower profits.

We can draw a parallel with ASICs, as my GPU cannot even compete on the bitcoin network, so I don't buy mining rigs, I just buy bitcoin. So the same may be in the future of NXT, where only the early adopters really can mine decent amounts. Thankfully, we can avoid an arms race like we've seen in PoW coins. Once you own NXT coins, it's yours - there's no need to continuously buy more mining power.

[Come-from-Beyond]

Observation regarding Mining/Refining.

Is it true to say that Nxt user's who only invest in a few hundred or even a few thousand or even a few hundred thousand Nxt have little to no chance of Mining/Refining any Nxt? Now or in the future?

The reason for my observation and question is not to moan but to get a realistic view on what is the incentive for new users to buy Nxt. I have a few hundred thousand Nxt and have not made any addition Nxt via Mining/Refining, but have kept the client running 24/7

When Nxt starts to take off and the price of Nxt rises, I doubt the average user will be able to buy 100,000's of Nxt. I also assume that most users that buy into Nxt would assume they will be able to earn interest via Mining/Refining? which is the reward for running the java client?

Is this how Nxt will always be? or will the balance of Mining/Refining power change over time?

Just thoughts...   

In 1'000'000'000 blocks a guy with 153 NXT will have ~153 blocks mined. In the long run ROI is the same for everyone.

[ferment]

Important note

"pushThreshold" and "pullThreshold" r set to 0 by default, but everyone who run a public node should mark their nodes with at least 1 NXT, coz in the future these parameters may be set to non-zero values.

Is there a chance that a node won't be able to get it's proper weight and thus never connect?

I'm still not able to see all 10 nxtbase nodes in the active peers.

[bitme]

I'm thinking about creating a kind of fund to finance services related to NXT but not through giveaways but through no interest loans. It was said here that initial stakeholders are not active enough. Probably most of them (just like me) wanted to just earn some BTC of it. Don;t get me wrong - I'm a libertarian guy but like to have sth in my pocket also. As time passes I see more and more potential in NXT but this potential needs to be shown to wider publicity. There are many talented and creative people here who could use such fund for making sth extraordinary and all would profit from it in long term.
I can't say how to solve trust problem here and not proposing any specific conditions of loans. It's just a loose proposition of crating such fund. What do you think about it?

[Come-from-Beyond]

Important note

"pushThreshold" and "pullThreshold" r set to 0 by default, but everyone who run a public node should mark their nodes with at least 1 NXT, coz in the future these parameters may be set to non-zero values.

Is there a chance that a node won't be able to get it's proper weight and thus never connect?

I'm still not able to see all 10 nxtbase nodes in the active peers.

Even without a hallmark peers can connect.

[Come-from-Beyond]

I'm thinking about creating a kind of fund to finance services related to NXT but not through giveaways but through no interest loans. It was said here that initial stakeholders are not active enough. Probably most of them (just like me) wanted to just earn some BTC of it. Don;t get me wrong - I'm a libertarian guy but like to have sth in my pocket also. As time passes I see more and more potential in NXT but this potential needs to be shown to wider publicity. There are many talented and creative people here who could use such fund for making sth extraordinary and all would profit from it in long term.
I can't say how to solve trust problem here and not proposing any specific conditions of loans. It's just a loose proposition of crating such fund. What do you think about it?

If u can solve problem of trust in algorithmic way then we could add it into Nxt payment processing.

[Elokane]

Can someone please repost a link to the Google spreadsheet with the trade data and graph?

Thanks.

[klee]

I'm thinking about creating a kind of fund to finance services related to NXT but not through giveaways but through no interest loans. It was said here that initial stakeholders are not active enough. Probably most of them (just like me) wanted to just earn some BTC of it. Don;t get me wrong - I'm a libertarian guy but like to have sth in my pocket also. As time passes I see more and more potential in NXT but this potential needs to be shown to wider publicity. There are many talented and creative people here who could use such fund for making sth extraordinary and all would profit from it in long term.
I can't say how to solve trust problem here and not proposing any specific conditions of loans. It's just a loose proposition of crating such fund. What do you think about it?

So how will this work in practice?

[klee]

I have 2 people atm starting to implement an Android wallet so I am very interested in finding more funds except me...

[Buratino]

Can someone please repost a link to the Google spreadsheet with the trade data and graph?

Thanks.

Here is: https://docs.google.com/spreadsheet/ccc?key=0AmpuZa3xuvmzdFVVZjRrRi1zYXdwSENsaFRkd3lCTmc&usp=sharing&richtext=true

[klee]

Can someone please repost a link to the Google spreadsheet with the trade data and graph?

Thanks.

Here is: https://docs.google.com/spreadsheet/ccc?key=0AmpuZa3xuvmzdFVVZjRrRi1zYXdwSENsaFRkd3lCTmc&usp=sharing&richtext=true

We need a proper graph asap damnit...

I will try to contact cryptocoincharts.

[klee]

We are 10th right now at coinmarketcap - Primecoin, Megacoin, worldcoin are useless we will eat them fast!
Then we have Quark which I like personally but it is pumped hard even at that price.
Then Peercoin - a PoS bastard.
It will be eaten too.

Litecoin is the most ellaborate pump & dump scheme ever, soon to tank along with all other scrypt coins.

I predict Bitcoin first and 2-4 Mastercoin, Bitshares, NxT in no particular order. And maybe eMunie.

[wizzardTim]

We are 10th right now at coinmarketcap - Primecoin, Megacoin, worldcoin are useless we will eat them fast!
Then we have Quark which I like personally but it is pumped hard even at that price.
Then Peercoin - a PoS bastard.
It will be eaten too.

Litecoin is the most ellaborate pump & dump scheme ever, soon to tank along with all other scrypt coins.

I predict Bitcoin first and 2-4 Mastercoin, Bitshares, NxT in no particular order. And maybe eMunie.

+1000. Like for not forgetting eMunie!

[klee]

Mastercoin is lobbying Cryptsy:

https://cryptsy.freshdesk.com/support/discussions/topics/45070

We should too!!!

[klee]

Mastercoin is lobbying Cryptsy:

https://cryptsy.freshdesk.com/support/discussions/topics/45070

We should too!!!

I created a ticket..

[landomata]

Mastercoin is lobbying Cryptsy:

https://cryptsy.freshdesk.com/support/discussions/topics/45070

We should too!!!

I agree.....it seems someguys have already started:

https://cryptsy.freshdesk.com/support/discussions/topics/44434