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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756260 times)
msin
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March 07, 2014, 10:07:27 PM
 #41701

I didn't understand what buyer/seller verified means.
What I mean is that when you are leaving feedback via AM, you will be required to enter a Tx id, where the sender (buyer's) account must match your account # and the receiving account must match the account where you are sending the feedback AM (the sellers account).  If those match up, the feedback is sent via AM.

I'm wondering if escrow/reputation is the best model for the SR type use case, and if there could be an alternative model.
Would the names of products and quantities sold be publicly available on the blockchain? Somehow I think this will draw unwanted attention.
Nothing would show up on the blockchain except the amounts of Nxt and the public feedback, all other messages would be encrypted.

How would disputes be resolved?  Outsiders can't know if the seller has sent the product. Either the seller or buyer can try to scam.
With Escrow AT, you would send your Nxt to seller via AT, at which point the Nxt is committed and you have two choices, release the funds to the seller or release the funds to the genesis block or charity (whereas neither party would benefit).  You wouldn't have the choice to get them back and the seller wouldn't have incentive to scam you since the funds would go elsewhere if you don't get your product.

Seller can sell to himself and give good feedback.
Yes, but they would have to go through the trouble of sending Nxt, leaving feedback, and it would all be traceable, and there would be no purpose with Escrow AT.

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Asian Prepper
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March 07, 2014, 10:12:37 PM
 #41702

It will get better :-)

Tai Zen
You're doing great! Nxt has a lot to thank to you!  Smiley

thanks! lol

As of 2014-04-09 I no longer post as "Asian Prepper" and will post under my real name "Tai Zen" to eliminate confusion.

Founder of www.PrisonOrFreedom.com | BTC: 19HHZ1yEimKUYVFM9TkXqd9xwM54jSFrmc | LTC:  LTA99422wieqR1MfWeNxZU5xAsESE9MzW7 | NXT:  17225446755425423638
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March 07, 2014, 10:13:03 PM
 #41703

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.
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March 07, 2014, 10:16:38 PM
 #41704

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

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March 07, 2014, 10:21:04 PM
 #41705

Guys what about the distribution?
Somebody was revealing top 60 accounts holdings spreadsheet a month ago for a week or so. Did the distribution change any since? It is well obvious that we have whales unloading and keeping the price down for last couple of weeks.
It would be interesting to see these distribution numbers at the moment.

It got not MUCH better, but better indeed!



Thanks,

Well 3% is not that bad and the price is the same as it was on January 26th. That means that we are doing something right here however. I mean it is a long way and our IPO distribution was far from perfect but we will get there. However it will be a slow and long process.
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March 07, 2014, 10:23:00 PM
 #41706

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

better this

share fee group (share fee pool or share fee Hubs) and limiting forging power of an account to 1.000.000 Nxt coin maximum . this means 1.000 nodes to ensure minimum network

Extremely decentralized network (in the exemple 30.000 Nodes) and therefore very secure network
Small accounts motivated to participate in forging (In the exemple 100 Nxt account is forging every day not every 10 year)
rich and poor have the same chance to forge because everybody forge everyday!!!!

Quote
I really like this idea because your node still has to be online to be part of the shared group.
It retains the decentralisation and number of nodes.
Forging is a bit like bingo/lottery anyway rather than mining and it smooths out the impact of penalty and people pool hopping if the pool was based on a single node...
So generally in stead of buying a single big ticket you are offering to share your ticket and any winnings with lots of others and vice versa
Penalties would only affect the nodes in the shared pool an would not take huge chunks of NXT out of the forging balance in one go by taking a whole pool out.
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msin
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March 07, 2014, 10:25:13 PM
 #41707

@CFB/JLC How hard would it be, to implement, that a node can only effectively forge with 1.000.000 NXT? Meaning that if you have 5  accounts with 200.000 you can run them on one node, but if you have 1 account with 2.000.000 NXT you will need to open that account on two nodes to fully get the forging power?

I've always liked this idea.  Large Nxt holders don't really care about forging, they will make their money with their holdings.  This would also encourage large holders to run multiple nodes.  It levels the playing field for those under 1M.

Yeah it grows on me too. I can't find the downside on this method. This can even be lowered in the future when NXT tx volume gets bigger

Yeah, perhaps it could be programmed into Nxt to decrease with block height, eventually reaching 1Nxt.  I would love to see a guy with 1Nxt have the ability to forge a large block.
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March 07, 2014, 10:35:09 PM
 #41708

Is it safe to use weshleys awesome interface in the main net?

EDIT: More importantly, with a real account.
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March 07, 2014, 10:40:07 PM
 #41709

I didn't understand what buyer/seller verified means.
What I mean is that when you are leaving feedback via AM, you will be required to enter a Tx id, where the sender (buyer's) account must match your account # and the receiving account must match the account where you are sending the feedback AM (the sellers account).  If those match up, the feedback is sent via AM.

I'm wondering if escrow/reputation is the best model for the SR type use case, and if there could be an alternative model.
Would the names of products and quantities sold be publicly available on the blockchain? Somehow I think this will draw unwanted attention.
Nothing would show up on the blockchain except the amounts of Nxt and the public feedback, all other messages would be encrypted.

How would disputes be resolved?  Outsiders can't know if the seller has sent the product. Either the seller or buyer can try to scam.
With Escrow AT, you would send your Nxt to seller via AT, at which point the Nxt is committed and you have two choices, release the funds to the seller or release the funds to the genesis block or charity (whereas neither party would benefit).  You wouldn't have the choice to get them back and the seller wouldn't have incentive to scam you since the funds would go elsewhere if you don't get your product.

Seller can sell to himself and give good feedback.
Yes, but they would have to go through the trouble of sending Nxt, leaving feedback, and it would all be traceable, and there would be no purpose with Escrow AT.



So this is a burn escrow, which doesn't need outsiders to resolve disputes. And it doesn't use the asset exchange, because sales are not public.

I didn't understand how the buyer finds the sellers and the products to be sold.
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March 07, 2014, 10:44:01 PM
 #41710

James is a machine.

I want this thing that he smokes too.
What do you think of NXTmixer? Let us assume we can ignore quantum computers that can peek inside the encrypted data. With everybody broadcasting, there is no time based correlations. I could even make it so everybody has to send the same multiple of 100NXT, but I dont think that is necessary.

What am I missing? I couldnt have come up with a working mixer in a day?!

James
Please ask AnonyMint to audit everything you do (NXTcash and/or mixing related)...

EDIT: I only trust him for this (he is totally paranoid regarding anonymity)
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March 07, 2014, 10:44:40 PM
 #41711

Is it safe to use weshleys awesome interface in the main net?

EDIT: More importantly, with a real account.

We haven´t heard about issues so far.
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March 07, 2014, 11:01:07 PM
 #41712

I spent about 3000NXT to promote Nxt for russian speaking people in vk.com by http://vk.com/cryptonxt. If u can donate 5552153634766291106
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March 07, 2014, 11:02:13 PM
 #41713

Alrighty then Smiley

By the way, is it possible to implement a forum feature in nxt? Imagine we could have this thread inside the system! Tho the message fee should be 0.01 or less otherwise we'll only hear from those who have something important to say Grin

EDIT: Probably not a good idea to implement a forum in nxt but can the message fee be lowered while keeping minimum transaction fee at 1nxt?
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March 07, 2014, 11:03:23 PM
 #41714

I spent about 3000NXT to promote Nxt for russian speaking people in vk.com by http://vk.com/cryptonxt. If u can donate 5552153634766291106
How did you manage to spend all that?
pinarello
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March 07, 2014, 11:04:43 PM
 #41715

Alrighty then Smiley

By the way, is it possible to implement a forum feature in nxt? Imagine we could have this thread inside the system! Tho the message fee should be 0.01 or less otherwise we'll only hear from those who have something important to say Grin

great idea!

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March 07, 2014, 11:06:27 PM
 #41716

Is it safe to use weshleys awesome interface in the main net?

EDIT: More importantly, with a real account.

Be sure you use the good version!

Meizirkki
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March 07, 2014, 11:08:37 PM
 #41717

Alrighty then Smiley

By the way, is it possible to implement a forum feature in nxt? Imagine we could have this thread inside the system! Tho the message fee should be 0.01 or less otherwise we'll only hear from those who have something important to say Grin

great idea!
Tho I just realized the deep web people could poison the chain on everyones nodes forever with questionable or illegal stuff.  Embarrassed
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March 07, 2014, 11:09:18 PM
 #41718

Is it safe to use weshleys awesome interface in the main net?

EDIT: More importantly, with a real account.

Be sure you use the good version!
If there's a bad version (that steals my account?) you got to tell me right now.
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March 07, 2014, 11:10:11 PM
 #41719

I spent about 3000NXT to promote Nxt for russian speaking people in vk.com by http://vk.com/cryptonxt. If u can donate 5552153634766291106
How did you manage to spend all that?
I create some post. For example http://vk.com/wall-64086699_91. Subscribers share it( I send them 49NXT) and their friends see post about Nxt in their news. New people know about Nxt.
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March 07, 2014, 11:11:02 PM
 #41720

I spent about 3000NXT to promote Nxt for russian speaking people in vk.com by http://vk.com/cryptonxt. If u can donate 5552153634766291106
How did you manage to spend all that?
I create some post. For example http://vk.com/wall-64086699_91. Subscribers share it( I send them 49NXT) and their friends see post about Nxt in their news. New people know about Nxt.
oh that's cool
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