NXT :: descendant of Bitcoin - Updated Information

[msin]

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

I don't believe anyone, there were talks about using a torrent style system to distribute marketplace which could be loaded to client.  If you are interested in developing, there would be quite a large bounty available.

[ChuckOne]

So basically, we want more nodes by more different people == 1 person <-> 1 node BUT many people in order to prevent the issues describe above.

I don't think this adds much to the discussion but thanks for the input.

My point for this discussion is:

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for running nodes should look like.

[CIYAM]

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for this contributions is.

We need as many nodes as we can get in order to make sure that the network doesn't "fail" (if there are too few nodes then our TPS would drop dramatically and in fact the whole network could be at risk).

Whether these nodes are "pool operators" or "individual forgers" is what we are discussing in regards to the "penalty" situation.

[igmaca]

CONCLUSIONS

is clear that as the value of Nxt respect Fiat up

is smaller nodes may hold but the limit will always be the
opportunity cost of the money referred to immobilize one year..

 

sorry is my google translate mouth 

CONCLUSIONS

It is clear that as the value of Nxt respect Fiat rises

smaller nodes may cover the costs of forging but the limit will always be the opportunity cost of money referred to immobilize one year funds ..

[ChuckOne]

It seems to me that forging is important to a healthy nxt network.

But, forging coins is like trying to find a bitcoin block individually. The small guy does not have much of a chance. Therefore he will not do it.

I have seen talk of NXT forging pools.

Would it not be possible to incorporate some of the mining pool code into NXT? Then the NXT network itself would be a mining pool. I am not a programmer and have no idea what would be necessary.

NXT itself is PoS. It is a complete system. We do not need PoW code in it.

What I proposed few posts above, is a PoW asset build on top of NXT.

If a node can prove its service to the network, an associated account could receive a portion of that coin.

I think that this is one way of encouraging people to set-up nodes.

Forging does not need to be changed.

[ChuckOne]

We need as many nodes as we can get in order to make sure that the network doesn't "fail" (if there are too few nodes then our TPS would drop dramatically and in fact the whole network could be at risk).

TPS is one single aspect. At least for now, we need to ensure database duplication at as many physically distinct places as possible.

Whether these nodes are "pool operators" or "individual forgers" is what we are discussing in regards to the "penalty" situation.

Sorry? What do you mean by penalty situation?

[CIYAM]

What I proposed few posts above, is a PoW asset build on top of NXT.

This is possible (and what James is working on) but securing the Nxt network needs to be done in Nxt not in a layer above it.

[martismartis]

-----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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Thank you for update, trying my stick for public node. To be sure, do I need to change something in nxt-default.properties or I can use from previous 0.8.0e?

[CIYAM]

Sorry? What do you mean by penalty situation?

The situation is that under the proposed TF changes you will "try" to announce your "forged block" and end up being rejected (due to a "better" block) and then be ignored by those nodes that saw this for 24 hours.

[farl4web]

SWARM NEEDED

Here is the reddit post, please everyone sign up at Bittrex.

Hello NXT community,

I solicited feedback on another thread about which coins we should support on our exchange before our public launch. NXT was overwhelmingly recommended.

Before we make the final decision, we're providing a special invite code for NXT users to experience our site first hand. Go to https://bittrex.com/Account/Register and use SUPPORT_NXT as the invite code. This gets you past the invite code queue. Place some trades, enabled 2FA, or try any of our other features to help us stress the site before the final launch. If you find a bug, we're handing out bug bounties as well. Having a great exchange helps us but also helps the NXT community.

If we get 100 signs ups using that code and active on our site, we'll add NXT before our public launch.

Please let me know if you have any questions or feedback, Bill

Just a reminder for everyone who hasn't already to please sign up for Bittrex.  Will also update everyone on Atomic Trade soon.  Thank you

68 signups as of this mornings, we need 32 more people to sign up at Bittrex, please do so if you have not.  Thank you.

Done!

[redsn0w]

CFb i sent you a PM

   

[Jean-Luc]

Thank you for update, trying my stick for public node. To be sure, do I need to change something in nxt-default.properties or I can use from previous 0.8.0e?

I added two more properties to the defaults:
nxt.apiServerEnforcePOST=false
nxt.uiServerEnforcePOST=true

[klee]

‪NXT‬ donations accepted here:
http://www.singularityweblog.com/

Show some love NXTers!

[Mario123]

So basically, we want more nodes by more different people == 1 person <-> 1 node BUT many people in order to prevent the issues describe above.

I don't think this adds much to the discussion but thanks for the input.

My point for this discussion is:

Don't confuse why we need more nodes, what properties these nodes should have and how an optimal incentive architecture for running nodes should look like.

Pump

Who is able to develop a lightweight NXT tool for Windows and Mac, which sits just in your taskbar/menubar (see picture as an example)?

Installing and running this little tool should be hassle free. You can lookup your account, use main Nxt functions (like sending NXT, messaging), activate/deactivate forging right from the menu and you see some general blockchain stats.

That way, we could promote this little gadget as a simple and lightweight tool which runs smoothly in the background, forging for you (or not) and securing the Nxt network.

http://cdn.osxdaily.com/wp-content/uploads/2011/07/desktop-utility-osx-lion.jpg
http://cloud.addictivetips.com/wp-content/uploads/2013/04/Window-On-Top.png


(I'm no windows user. Do windows user still have this little apps in the task bar? Or is there a modern equivalent, like a gadget on the desktop?)

Since this is so OS-special, maybe two different developers for Windows and Mac. Come on, guys. Raise your hand for this project!

I really think that a nice widget/menubar helper could bring something to Nxt. (For now?!)

[farl4web]

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 1 dollar for maintaining the node and remain immobilized the funds (oportunity cost)

When is the change of fee planned to 0.1 NXT? I think if NXT is been calculated more in decimals behind the comma(point), 1 NXT will get more valuable. Pure
psychological.

sorry  

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?  

Running a paid node for supporting the network is something different than just unlocking your account on a PC and start forging. Confusing what people are talking about here.  

[wesleyh]

some testnet for 9827273118446850628 please, thanks!

[opticalcarrier]

can someone tell me how to access admin/alias/message/update html pages when using 0.8.1e?  I cant seem to nav to them.  I can forge though

[zman910]

Nxt seems so promising. Looking forward to joining and buying some coins.

[igmaca]

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

I don't believe anyone, there were talks about using a torrent style system to distribute marketplace which could be loaded to client.  If you are interested in developing, there would be quite a large bounty available.

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Re: NXT :: descendant of Bitcoin - Updated Information
February 17, 2014, 01:37:11 AM
Reply with quote  #35839
Quote from: bitcoinpaul on February 16, 2014, 11:06:41 PM
Quote from: bitmadaboutcoin on February 16, 2014, 10:58:30 PM
but isnt part of bcexts plan to lower fees and stop greedy hoard and forge? makin it not worth while?


His idea. We don't have to follow it.
I am following BCNext's plan! He is clearly much smarter than me, who am I to second guess his recommendations.
In any case it makes a lot of sense to me that NXT itself should be as close to free to use as possible. Think how much it costs to use the Internet, or normal cash. If using the internet had a per minute fee (like Compuserve did), it would never have become what it is. Most people dont seem to under stand this. Elasticity of price demand, eg. lower cost -> more volumes.

I suggest that everybody just IGNORE any amount that comes in from forging. If it comes in, great, if not, dont worry. NXT is about building an economy. What sort of economy would it be if everybody just sat around waiting and staring at their money waiting for it to magically and spontaneously spit out more money?? The fact that NXT actually does this every once in a while is fantastic, but it is NOT the reason to own NXT. [answer to my rhetorical question is "massive economic depression"]

The reason to own NXT is to be able to build a livelihood around it. Create a product like Anon's silver bars, create a service like many people have already done. You have to do something to get something. Its not really that strange that it works this way is it?

Unless you have 100 BTC and can buy 1 million NXT, you gotta work. Even if you have 1 million NXT, it would be much better if you invested in the best ideas and allow others to make a living.

I am in the process of coming up with ways normal people can make a living by building stuff on top of NXT, but the more people that contribute such ideas the better. I cant be the only one who has ideas on how to make money with NXT.

Let's play a game. post a way you can think of that somebody can make money with NXT, using the tech that is currently being developed. The best idea as measured by (estimated revenues divided by estimated costs to implement) will win 500 NXT bounty. If there is no consensus as to what idea has the best revenue/cost ratio, i will flip a coin and pick the one I like the best.

Deadline is before I sign off tonight, probably 6 to 8 hrs

James

At the dawn of electricity in the late nineteenth century was Thomas Edison envisioned a decentralized system with many small companies competing for generators installed near the point of consumption. Since the electricity distribution cables were still rare , the Edison Electric Lighting Company focused most of his first business in installing generators in small factories, shops, hotels and homes .
In 1888 , Edison had installed 1,700 small plants . In the early twentieth century , more than half of U.S. electricity It was self-produced by industries that took advantage of the waste heat and excess electricity sold to nearby customers.

Would it be possible to implement Nxt platform under the distributed energy market or better distributed green energy market ?

Is a market where producers and consumers of energy would cross their sales orders and purchase orders simultaneously.

Today a small community of neighbors or landowners can generate and sell energy through solar PV , mini wind power, etc. .

For example an owner decide to install in his home to energy consumption solar pv but at certain times of day to spare and is now selling the excess energy in the Nxt platform.

At one point he needs same energy and buys his deficit in the Nxt platform.

both buyer and seller should obviously pay transport costs to distribution companies but the market for the generation and consumption of energy would peer ( peer to peer) .

This would link with the colored coins and the contract system like Ethereum .

Does anyone dare with the idea ?

If anyone dares I'm interested to collaborate .




I might have to start riding a subforum within nxt  and capture programming experts, renewable energy experts (Here you may include me) experts on markets, marketing, etc. and start brainstorming.

Nxt I think will make sense when it is full of content.

I'm thinking about the war that was with standard video players as they left. There was a video player launched by Philips that was technically the best but in the end won the battle Sony with beta system because it was the first to incorporate all hollywood movies in their system.

in substance filled it with contents

I propose to create a thread for every idea that the community is considered feasible and start brainstorming. 

[ChuckOne]

What I proposed few posts above, is a PoW asset build on top of NXT.

This is possible (and what James is working on) but securing the Nxt network needs to be done in Nxt not in a layer above it.

I disagree. NXT is PoS and this ensures a green infrastructure.

If for some forgers the block fees aren't enough, they should go with the PoW-Coin on top of NXT.