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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756316 times)
Eadeqa
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February 25, 2014, 12:45:45 PM
 #37561

Does anyone agrees Nxt community got scammed by Mintpal exchange? They should have not added Nxt for voting if they didn't have technical skills to add it.

They need to refund the money.  


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CIYAM
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February 25, 2014, 12:45:54 PM
 #37562

To be clearer about the 90% protection that "penalizing" is supposed to give us the problem is "how to you penalize the 90% if it has been split up into x accounts?" and the answer is "you can't".

So maybe the only result of such a penalty is that a huge stake holder won't "show the size of his stake" by keeping it all in 1 account (most likely he never would do that anyway).

Understand that if I had 1,000 accounts and say "10 of them" were being penalised then the other 990 are fine to keep on forging.

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

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bitcoinpaul
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February 25, 2014, 12:46:19 PM
 #37563

Does anyone agrees Nxt community got scammed by Mintpal exchange? They should have not added Nxt for voting if they didn't have technical skills to add it.

They need to refund the money.  



Relax, they are on it, I think.
pinarello
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February 25, 2014, 12:46:55 PM
 #37564


See how simple it is... stop selling and price goes up. Wink Grin

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February 25, 2014, 12:47:25 PM
 #37565

1. How the "weight" variable is actually computed?

So - there is a # in each block and a math op is performed with this # + the account # of the "forger" to provide a new #. You can just think of that # as being the "best account #" so the account who's # is closest to the "best" would be the "best choice" to forge the next block (so would have the max. "weight").

If that account doesn't forge then an account "near" it can forge it instead (how near is increased over time to ensure that a block should always appear every minute). So "later forgers" have less weight (the exact weight being determined by their account #).
OK, but, if we want to be able to calculate probabilities, there must be a good math model of how these weights can be simulated (i.e., something like this: "one can assume that weights of accounts are independent Exponential random variables with expectations equal (or proportional?) to their balances"). Without such a model, it would be difficult to proceed...

Quote
3. Assume that a node sees at least one neighbor with a different version of the blockchain (from the blockchain that our node has). How does it decide, which is the "correct" one?

The "correct" one is simply that with the most weight - so at any point a node could ask another node for the "height and weight" of their blockchain and if that answer is better than their own then they would ask for those blocks in order to "switch chains".
How the "weight of the blockchain" is defined? Do you just add the weights of all blocks? Or, say, last k blocks? Can it be a weighted sum?


Also, a question about the network topology: how is it decided, who will connect to who? In particular, can a "bad guy" just choose, to which nodes it will be connected?
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February 25, 2014, 12:48:21 PM
 #37566

As NXT is growing and getting stronger marketing should schift focus from IT nerd tech guys-------> to real investors.

We should swarm investor sites like Ihub etc... and talk about NXT and possible ROI.

or we have to attract the mining community in some kind of way.

the well you all pumping now is DRY

And most of all whale should stop selling and turn of them bots.

I like this

Know what's happening in cryptoworld: www.coinschedule.com
Eadeqa
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February 25, 2014, 12:50:49 PM
 #37567

Does anyone agrees Nxt community got scammed by Mintpal exchange? They should have not added Nxt for voting if they didn't have technical skills to add it.

They need to refund the money.  



Relax, they are on it, I think.

That was  not the purpose of voting. The voting was intended  to pick up the next winner. Who cares if they add it two months later?

I am calling it a scam

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February 25, 2014, 12:51:52 PM
 #37568


Excellent work Sir, than you! I like the picture of the funding committee  Wink
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#Free market


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February 25, 2014, 12:52:28 PM
 #37569

Does anyone agrees Nxt community got scammed by Mintpal exchange? They should have not added Nxt for voting if they didn't have technical skills to add it.

They need to refund the money.  



Relax, they are on it, I think.

That was  not the purpose of voting. The voting was intended  to pick up the next winner. Who cares if they add it two months later?

I am calling it a scam


no , it isn't scam .... relax Wink .
Eadeqa
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February 25, 2014, 12:53:58 PM
 #37570

Does anyone agrees Nxt community got scammed by Mintpal exchange? They should have not added Nxt for voting if they didn't have technical skills to add it.

They need to refund the money.  



Relax, they are on it, I think.

That was  not the purpose of voting. The voting was intended  to pick up the next winner. Who cares if they add it two months later?

I am calling it a scam


no , it isn't scam .... relax Wink .


Too late to call it "not scam" -- the winner had to be chosen that exact day and implemented.

Scam

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February 25, 2014, 12:55:55 PM
 #37571

Sorry if this issue has been discussed already - when I try to SELL an asset (placeAskOrder) I do get a 'not enough funds' error if the price exceeds the balance on the account!!!

When the account has more money than the Order would require, then it is possible.

This should not happen, because I have sufficient amount of the asset to be sold, and of course the balance is not relevangt for SELLING something (except for the fee, but that is only 1 nxt)


 
trying to place SELL order for 3 UniGots at 1000 nxt = 100000 in the Price field:




Can't place order, reasong not enough funds?
 





pinarello
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February 25, 2014, 12:56:22 PM
 #37572


Nice work again apenzl, easy to read and catch up.

thank you

igmaca
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February 25, 2014, 01:01:45 PM
 #37573

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?
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February 25, 2014, 01:08:51 PM
 #37574

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?


if a Nxt equals 1 Dollar  .. but 1 Nxt  doesn't equals 1 $
igmaca
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February 25, 2014, 01:12:28 PM
 #37575

Power forged for account and node maximum  100000 Nxt

Accounts with more than 100000 Nxt if they want to forge gradually will be divided into fractions Nxt 100000

accounts with less than 100000 Nxt will share their rights fees in pools. If bob account forge his fees will go into the pool.
Bob would receive a fraction fees as a function of the nxt he had.

The network in the worst case would reach 10 000 nodes

1000000000/100000 = 10000 Nodes

Translated into numbers

if a block has 256 transactions
and 1440 blocks are generated each day

a pool with 100000 nxt generated 52.6 blocks per year
if a Nxt equals 1 Dollar
Blocks 52.6 x 256 = 13,455 dollar per year


in the worst case nearly every week 256 dollar received a pool (grouping of accounts) with 100000 nxt

Bob would receive a fraction fees as a function of the nxt he had in the pool.

if for example the pool is formed by 256 equal  accounts each account will receive 1 dollar per week

Do not forget that you have also mantein your PC if you usually use for other things.

The 256 dollars are to maintain only your actives nodes per week

chances of forging only depends on the nxt you have

This solution at least provoke everyone who wants to forge receive fees every 2-3 days maximum one week.

This at least solves that small accounts are equally motivated to forge that big.

my thoughts are wrong?


if a Nxt equals 1 Dollar  .. but 1 Nxt  doesn't equals 1 $

the cost per transaction is an example
can be adapted as a function of the value of nxt
CIYAM
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February 25, 2014, 01:20:13 PM
Last edit: February 25, 2014, 01:30:33 PM by CIYAM Open
 #37576

OK, but, if we want to be able to calculate probabilities, there must be a good math model of how these weights can be simulated (i.e., something like this: "one can assume that weights of accounts are independent Exponential random variables with expectations equal (or proportional?) to their balances"). Without such a model, it would be difficult to proceed...

So for each account we take the first 8 bytes of an SHA256 hash of the "previous block sig + your account #" to get a "base target" (so an unpredictable 8 byte value that changes with every block). We then multiply this by your account's balance and the time (in seconds) since the last block to come up with your "current target".

There is also a "minimum target" value set in order to prevent spam (i.e. we don't want the network clogged up with people broadcasting "losing tickets"). This value is not overly important so I wouldn't worry too much about including it in the model (or just pretend it is a constant maybe).

Note that the time multiplication is really just to "widen" everyone's chance so that it won't take more than 60 seconds for "someone" to have a "current target" > "minimum target" and then broadcast their block.

When considering what is a "better block" time would be removed from the equation (so best "block target" is always the "base target" multiplied by "account balance") so the whole "time" thing could be left out of the model (just want you to be clear how the system works).

How the "weight of the blockchain" is defined? Do you just add the weights of all blocks? Or, say, last k blocks? Can it be a weighted sum?

The weight is simply the sum of each "block target" in the chain (as far as I am aware - will reply again if I've got anything wrong).

Also, a question about the network topology: how is it decided, who will connect to who? In particular, can a "bad guy" just choose, to which nodes it will be connected?

Each node will generally connect to as many nodes as it can within max. limits set and it will ask each node it connects to for that nodes connections also but of course a bad guy could choose to only connect to certain nodes.

A node will disconnect from another if that node "spams" it or has gone "quiet" for too long (to prevent wasting memory on non-functioning connections).

With CIYAM anyone can create 100% generated C++ web applications in literally minutes.

GPG Public Key | 1ciyam3htJit1feGa26p2wQ4aw6KFTejU
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February 25, 2014, 01:32:18 PM
 #37577


Thanks! reading it now and looking good as usual.

-----

And just a thought I wanted to leave here. With the last debacle in MtGox, twitter is seething with references to P2P, decentralized exchanges. I'm seeing links to http://www.coinffeine.com/ all the time. We have a wave to ride there now. I understand people is upset with mintpal (a damn fine exchange site, imo) and any swarm efforts are good and getting into new exchanges is always good and all, but right now it does not seem a priority when we have assets of our own, pun intended, that will return much more.

Regarding implementation of asset exchange, new tests and developments, what news do we have to show? Statements, screenshots, articles... we should keep producing materials around it. Translate for the crowd the progress being made. Other than "tests keep coming nicely and neurons keep sparking" what can we show? We have a great momentum out there.
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February 25, 2014, 01:38:45 PM
 #37578

How the "weight of the blockchain" is defined? Do you just add the weights of all blocks? Or, say, last k blocks? Can it be a weighted sum?

The weight is simply the sum of each "block target" in the chain (as far as I am aware - will reply again if I've got anything wrong).

It's the sum of 1/targets.
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February 25, 2014, 01:40:55 PM
 #37579

nostalgia: https://bitcointalk.org/index.php?topic=444.msg3866#msg3866
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February 25, 2014, 01:43:58 PM
 #37580

We have a wave to ride there now.

...


We have a great momentum out there.

+1
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