NXT :: descendant of Bitcoin - Updated Information

[rickyjames]

to put it in numbers
Account  1900 Nxt

1440 blocs per day
1 blocs per year with 1900 Nxt
fee per bloc (For example) 100
Profit per year 5.3%
5.3% must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

If 1 Nxt = 1 dollar

Account  with 1900 Nxt will generate 100 Nxt = 100 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

Keep thinking.  You had to run this node for a year, so the 100 dollars has to cover a monthly operations cost of 100/12 = $8.33 per month

So....

IF the block you capture once a year has 100 NXT in fees in it and
IF each NXT is worth $1 and
IF your monthly hardware amortization, bandwidth costs, and electricity costs are less than $8.33 per month

Then you made a monthly profit = $8.33 - monthly server costs

Anybody out there running a VPN for less than $8.33 per month?  

I pay 20 dollar per month for 2MB VPS. Because i belive in nxt ecosystem

The quetión is whether we can increase the number of transactions per block to 100
The question is whether a 1900 nxt node will want to wait a year to forge
The question is whether the value will rise soon nxt 1 dollar
The question is profitable to keep the funds in an account standing. which is the opportunity cost

Keep thinking.  You've got $1900 in cash.  How much can somebody make per month with $1900 spent on joining a DOGE pool instead of acquiring a stake in NXT?
NXT is in competition with the real world running on a profit motive.   Believers in the NXT ecosystem are going to be running at a loss, month after month...

[CIYAM]

Suppose someone leases forging power to a pool, and then forgets about it... Wouldn't he eventually own all nxt in existence?

Not possible as no reasonable person is likely to "spend their very last NXT" on a transaction fee.

[Emule]

Below u'll find a short description of the Nxt communication system. This is the 2nd plan of our decentralization. 1st one you can find here.

hours and hours of communication

Did you ever send a copy of the signed form to Steven?

Did you fill it and sent it to Steven?

So, no, I did not send the form in to Steven.  I did not know I was supposed to.

 

THIS yes   and that salsa dud laughing all the way to bter.

community is paying that salsa dude 40K a month, without all the other gifts and bybitcoin give him another 100k for "THE POOL" but he mistakenly put it on his account

seriously guys

[opticalcarrier]

Throwing out some suggestions here on prevention of centralization due to leased forging power...

Set a hard limit on size of a pool's effectiveBalance consisting of leased power.  Maybe 5M or 10M NXT or something like that?  We may even want to set a limit to max size of a single account's effectiveBalance, such that if a single account's balance is higher than, say, 10M NXT, then its effectiveBalance is limited to 10M.  Users could then choose to split accounts and forge on different machines that would then provide a measure of redundancy.

And since these countermeasures *could* be broken via configurations of software/hardware if the pool operator or user *really* wanted to, I think we still should pursue the TF option of selecting secondary, tertiary and even 4th and 5th accounts that could quickly forge a block should higher priority accounts fail to forge in a quick manner.

[Mario123]

Shut up, Emule. You have no sense of humor. Go drink your aperitifs with your friends.

[pinarello]

Do we have an testreport from AE?

Is it ready to implement, what is the status?

Do our clients support the AE to devs satisfaction? wesleyh, marcus03, minusbalancer, etc...)

 

[igmaca]

to put it in numbers
Account  1900 Nxt

1440 blocs per day
1 blocs per year with 1900 Nxt
fee per bloc (For example) 100
Profit per year 5.3%
5.3% must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

If 1 Nxt = 1 dollar

Account  with 1900 Nxt will generate 100 Nxt = 100 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

Keep thinking.  You had to run this node for a year, so the 100 dollars has to cover a monthly operations cost of 100/12 = $8.33 per month

So....

IF the block you capture once a year has 100 NXT in fees in it and
IF each NXT is worth $1 and
IF your monthly hardware amortization, bandwidth costs, and electricity costs are less than $8.33 per month

Then you made a monthly profit = $8.33 - monthly server costs

Anybody out there running a VPN for less than $8.33 per month?  

I pay 20 dollar per month for 2MB VPS. Because i belive in nxt ecosystem

The quetión is whether we can increase the number of transactions per block to 100
The question is whether a 1900 nxt node will want to wait a year to forge
The question is whether the value will rise soon nxt 1 dollar
The question is profitable to keep the funds in an account standing. which is the opportunity cost

Keep thinking.  You've got $1900 in cash.  How much can somebody make per month with $1900 spent on joining a DOGE pool instead of acquiring a stake in NXT?
NXT is in competition with the real world running on a profit motive.   Believers in the NXT ecosystem are going to be running at a loss, month after month...

is much better nxt ecosystem.

the cost of maintaining the network is a lot more economical.

inflation is a lot smaller.

[bitcoinpaul]

emule, dump your coins please.

[Fry]

Who is currently working on the Decentralized Marketplace / Auction system?

[ChuckOne]

This guy is the ideal Nxt citizen. Although I can hardly believe anybody is forging right now to make nxt money, the fees are more about preventing
spamming. Its a tricky balance we are faced with especially at this early stage. We anticipate a robust nxt economy where hundreds or thousands
of businesses are dependent on the nxt network with our 1000 tps. [...]

Well, if you think about it, if we lower the fees --- will this gain more acceptance from businesses and community? 

Not until we make it attractive to them. They need to have very, very, very good reason for building their business on top of NXT.

The current money system is far from perfect but it works for most people.

Give me 3 reasons for the average joe/entrepreneur to join us!

[igmaca]

to put it in numbers
Account  1900 Nxt

1440 blocs per day
1 blocs per year with 1900 Nxt
fee per bloc (For example) 100
Profit per year 5.3%
5.3% must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

If 1 Nxt = 1 dollar

Account  with 1900 Nxt will generate 100 Nxt = 100 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

Keep thinking.  You had to run this node for a year, so the 100 dollars has to cover a monthly operations cost of 100/12 = $8.33 per month

So....

IF the block you capture once a year has 100 NXT in fees in it and
IF each NXT is worth $1 and
IF your monthly hardware amortization, bandwidth costs, and electricity costs are less than $8.33 per month

Then you made a monthly profit = $8.33 - monthly server costs

Anybody out there running a VPN for less than $8.33 per month?  

I pay 20 dollar per month for 2MB VPS. Because i believe in nxt ecosystem

The quetión is whether we can increase the number of transactions per block to 100
The question is whether a 1900 nxt node will want to wait a year to forge
The question is whether the value will rise soon nxt 1 dollar
The question is profitable to keep the funds in an account standing. which is the opportunity cost

Keep thinking.  You've got $1900 in cash.  How much can somebody make per month with $1900 spent on joining a DOGE pool instead of acquiring a stake in NXT?
NXT is in competition with the real world running on a profit motive.   Believers in the NXT ecosystem are going to be running at a loss, month after month...

is much better nxt ecosystem.

the cost of maintaining the network is a lot more economical.

inflation is a lot smaller.

just have to finish polishing the idea of ​​maintaining the security of the network without penalizing the cost. but this I think with all these brainstorms will be achieved

 

[salsacz]

Should Nxt support the anti SOPA activism or not?

[mthcl]

From the text by BCNext/cfb, it seems so to me. don't know about the math

We really need the math - so if we have any math guys in our community there is an opportunity for you to earn some NXT or BTC for helping out with this and some other analysis.

Can you define (in simple terms) the math model and the question about it that you need answered?  I'm a mathematician (Probability/Stochastic processes), but understand little how cryptocurrencies actually work, I have to confess that I understand almost nothing of the tech talk over here...

[ChuckOne]

I'm running 4 servers now!
But if it continues this way, may stop all!
I have more than $7000 in NXT but received 1 NXT per week after several weeks!!! It's really frustrating and community should consider it!

I know that it's about 430 peers on NXT Network now but what happening after frustration? God knows!

Network may not shape correctly and securely if this continues!

Just IMHO!

This is the PoS system. Less transactions, less fees. If you want more NXT out of your metal, promote NXT and stimulate transactions like hell.

[CIYAM]

Should Nxt support the anti SOPA activism or not?

I only speak for myself but I think it would better not to try tying the Nxt community itself to such causes (whether they be noble or otherwise) as you are always going to "turn off some potential users".

Wouldn't it be better for interested Nxt users to just form their own groups for that?

[rickyjames]

I pay 20 dollar per month for 2MB VPS. Because i belive in nxt ecosystem

The quetión is whether we can increase the number of transactions per block to 100
The question is whether a 1900 nxt node will want to wait a year to forge
The question is whether the value will rise soon nxt 1 dollar
The question is profitable to keep the funds in an account standing. which is the opportunity cost

Keep thinking.  You've got $1900 in cash.  How much can somebody make per month with $1900 spent on joining a DOGE pool instead of acquiring a stake in NXT?
NXT is in competition with the real world running on a profit motive.   Believers in the NXT ecosystem are going to be running at a loss, month after month...

is much better nxt ecosystem.

the cost of maintaining the network is a lot more economical.

inflation is a lot smaller.

I agree.
I agree.
I agree.

Believers in the NXT ecosystem are going to be running at a loss, month after month...

[redsn0w]

We already have it - any account with 1 NXT can forge. Odds to find a block is another question.

The purpose of my proposal is to "change the odds" (in favour of the small stake holder).

For example, with 2358 Nxt I can forge the next block in 345 days.

and I believe that the reward will be 0 nxt, in my opinion it is not right  this is not EQUALITY 

I do not understand. You create only 1 block per year. What exactly do you expect? 1000 NXTs for that?

I recently pondered about the discussion of inequality. I think it only stems from a perceived stagnation of the value associated with the amount of NXT a person has.

Let A be amount of NXTs and t1 and t2 two different timestamps. Humans cannot clearly see why A@t1 and A@t2 is a different value (in terms of goods one could buy with them). They just see A. They'd rather have a higher amount in their account (like interest in bank accounts).

One should teach people that NXT is deflationary (will they understand?). The increase in value is achieved indirectly and not by changing digits of the account balance.

No , but i expect at least 10-20 Nxt .. i'm helping the community and when i forge one block and the reward is 0 Nxt... i'm so angry  

[ChuckOne]

*edit* also like ciyam pointed out, running nodes should be differentiated from forging.

How do we reward nodes within a PoS system?

Nodes exist outside of the NXT system. Rewarding nodes would imply having PoW.

[Jean-Luc]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

Release 0.8.1e

http://download.nxtcrypto.org/nxt-client-0.8.1e.zip

sha256: 4c665609a08fc5e79143e715c0f46246c66d35c1db6138ca9b025a1188d9aa3c


Change log:

Improved handling of peer announced addresses and ports. Setting
nxt.myAddress is now optional, which will help users with dynamic IP
addresses. When connecting to a peer, as long as nxt.shareMyAddress is
enabled, it will at a later time attempt to connect to your announced
address, or if not set, to the address your request came from.
If successful, the peer will use this address to connect to you in the
future, and will share it with others. This also does verification of
announced addresses, and considers your node connected only after a
successful connection to the announced address is made. This will prevent
invalid announced addresses from being spread to other peers too.

If you need to use a non-default port, the port has to be appended to your
announced address too. It does not need to be the same as
nxt.myPeerServerPort, so you can run the server on one port but forward
a different router port to it. If the port is not set in announced address
however, but nxt.myPeerServerPort is non-default, nxt.myPeerServerPort
will automatically be appended to the announced address.

To summarize: For users with dynamic IPs, you don't need to put anything
in nxt.myAddress, but still need to set up port forwarding at your router.

Verification of hallmarks has also been improved to attempt to resolve
hostnames to IP addresses. Note that if you use a non-default port,
the hallmark should include your address only, without the port.

Added generateToken API request. Parameters are secretPhrase and website,
response is the token string wrapped in JSON. This is also available
on the admin.html page.

Improved handling of init and shutdown. Nxt.shutdown() is now public and
client developers can call it. When Nxt is started as a standalone
application by calling main(), it will schedule a shutdown hook, otherwise
if started using init(), the caller of init() is responsible for calling
shutdown() or scheduling a shutdown hook.

Delayed starting the blockchain scan and the jetty servlets until the
initialization of all classes has completed. This should allow registering
listeners with those, and will also help prevent errors due to servlets
starting to accept requests before the system is fully initialized.

If nxt-default.properties is not found in the classpath, Nxt will also
make an attempt to load it from the file defined in the system property
nxt-default.properties, so you can define it on the command line:
java -Dnxt-default.properties=conf/nxt-default.properties. This is of
interest to client developers only.

Support use of POST in addition to GET for all API and UI http requests.
To enforce use of POST only, for those requests that require the user
secretPhrase, the nxt.properties nxt.apiServerEnforcePOST and
nxt.uiServerEnforcePOST can be set (default is false for API, true for
UI). This way client developers can enforce that only POST requests are
used for handling sensitive data.

The default NRS browser UI has been changed to use POST only, and so have
the tools - admin.html, message.html, alias.html. This way the user
secretPhrase will no longer be cached in the browser memory.


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[igmaca]

I pay 20 dollar per month for 2MB VPS. Because i belive in nxt ecosystem

The quetión is whether we can increase the number of transactions per block to 100
The question is whether a 1900 nxt node will want to wait a year to forge
The question is whether the value will rise soon nxt 1 dollar
The question is profitable to keep the funds in an account standing. which is the opportunity cost

Keep thinking.  You've got $1900 in cash.  How much can somebody make per month with $1900 spent on joining a DOGE pool instead of acquiring a stake in NXT?
NXT is in competition with the real world running on a profit motive.   Believers in the NXT ecosystem are going to be running at a loss, month after month...

is much better nxt ecosystem.

the cost of maintaining the network is a lot more economical.

inflation is a lot smaller.

I agree.
I agree.
I agree.

Believers in the NXT ecosystem are going to be running at a loss, month after month...

What do you suggest then?