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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756163 times)
ZeroTheGreat
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December 26, 2013, 11:42:48 PM
 #8981

Edit: the "mining" mentality is a weird mindset.
No, it's not. People love fast profits and such thing easily clouds mind far away from seeing long-term scenarios. Absolutely normal.
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mcjavar
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December 26, 2013, 11:43:07 PM
 #8982

So why would I spend the money on more H/W - why wouldn't I buy more NXT?

Basically, the more sound the network is, the more value it represents.
If the NXT has more value, because the tech behind it is more trustworty, 10 NXT could easily be worth more than, say, 100 NXT.

You could basically own ALL NXT and still have nothing, because no one places value on it, or you could own a few that are worth loads.

So, spending money on hardware is an investment in the value of the NXT.

Edit: the "mining" mentality is a weird mindset.

That´s why I also ordered PIs to support he network, as it is also in my interest to help nxt succeed.
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December 26, 2013, 11:43:55 PM
 #8983

Idea: a mechanism that pays nodes automatically just for being up. Like an automatic, rearming faucet. People would be paid just for running devices, regardsless of type.

With some cross checking, denying cheaters should be doable, e.g. only considering unique IPs and nodes that are uploading at least now and then.

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December 26, 2013, 11:45:12 PM
 #8984

What I don't understand about forging is this:

where do the NXTs for the forgers come from? Are they taken from the non-forgers?

If there are 1B NXT total, and if someone forges (expects an increase)...from where?
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December 26, 2013, 11:47:19 PM
 #8985

What I don't understand about forging is this:

where do the NXTs for the forgers come from? Are they taken from the non-forgers?

If there are 1B NXT total, and if someone forges (expects an increase)...from where?

Transaction fees, every transaction  must pay to use the network. Same as in any other crypto. NXT is now exactly what bitcoin will be in 100 years. Except bitcoin won't survive that long Wink

NXT VPS Server Donations can be sent here: 6044921191674841550
At the end of each month I will donate some of them back to the community.
This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting.
ZeroTheGreat
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December 26, 2013, 11:47:49 PM
 #8986

Wanna repeat: don't invest more than u can afford to lose. And if u, %username%, just starting an investor career, divide your expectations of acceptable lost part of capital by 10!

Manage risks, use diversification. Live long and prosper  Cool
wakasaki808
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December 26, 2013, 11:47:52 PM
 #8987

What I don't understand about forging is this:

where do the NXTs for the forgers come from? Are they taken from the non-forgers?

If there are 1B NXT total, and if someone forges (expects an increase)...from where?

The forges come from the Transaction fee's. The reason why many of the NXT blocks are empty is because NXT needs more trading to occur for more blocks with values to occur.

Every coin will transition to this at a certain point (as long as they don't have infinite coins).

Also because someone sent NXT to the genesis block, a few thousand NXT has been destroyed. So we are around 999M NXT
mcjavar
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December 26, 2013, 11:48:29 PM
 #8988

I would reserve every 10th blockgeneration right to the public nodes (every node has the same chance to generate a block), encouraging them to be up an running. If a public node is up and running AND an account is open on that node, it should have the right to earn some transaction fees (even if it´s empty - due to security reasons I wouldn´t leave my wallet open on a node where all my nxts are in)

Just my 2 nxts.

What do you think?
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December 26, 2013, 11:49:07 PM
 #8989

sent, enjoy
Received, wonderful.
Once my coins arrive I shall send you back double.
Have at you!

In the meanwhile I'll look for that raspberry pi laying around.
And put up an extra node.
ZeroTheGreat
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December 26, 2013, 11:49:18 PM
 #8990

Idea: a mechanism that pays nodes automatically just for being up. Like an automatic, rearming faucet. People would be paid just for running devices, regardsless of type.

With some cross checking, denying cheaters should be doable, e.g. only considering unique IPs and nodes that are uploading at least now and then.
Called forging (forging pools in future may be) Grin Equlibrium under construction.
mcjavar
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December 26, 2013, 11:50:24 PM
 #8991

Wanna repeat: don't invest more than u can afford to lose. And if u, %username%, just starting an investor career, divide your expectations of acceptable lost part of capital by 10!

Manage risks, use diversification. Live long and prosper  Cool

buy high, sell low, yeeha! Cheesy
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December 26, 2013, 11:51:11 PM
 #8992


Raspberry Pis are a cheap way to stand up lots of new nodes fast to stabilize the network from DDoS attack more so than using them for forging new NXT coins.

I guessed as much - I'm running 3 nodes to do my small part to help... I just wonder if some people will mistakenly buy PIs thinking they are mining machines for NXT - which it is clear they are not and they would have been better increasing their stake... Of course if they want to buy 5 or 10 PIs to help the network that is fine but are they clear it won't help them get more NXT unless someone is paying them to do it of course.

They are cheap way to always keep 1 node unlocked without messing with your primary computer. They would also be a cool way to have secure remote access to NXT.

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December 26, 2013, 11:51:24 PM
 #8993

Start using "my 2 nxts" (instead of btc, cents)...evangelize, advertise Cheesy
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December 26, 2013, 11:51:29 PM
 #8994

Edit: the "mining" mentality is a weird mindset.
No, it's not. People love fast profits and such thing easily clouds mind far away from seeing long-term scenarios. Absolutely normal.

I'm not saying it isn't understandable. I've been known to go for "$$$$ by sitting on your butt!!!" schemes  Grin

"Weird" includes me, too. That doesn't mean it shouldn't be pointed out, once in a while  Wink

Member of the Nxt Foundation | Donations: NXT-D6K7-MLY6-98FM-FLL5T
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ZeroTheGreat
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December 26, 2013, 11:52:07 PM
 #8995

The reason why many of the NXT blocks are empty is because NXT needs more trading to occur for more blocks with values to occur
Don't turn Nxt into something personalized-thing, reason: low tx-activity and that's all  Wink
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December 26, 2013, 11:52:31 PM
 #8996

Even more nodes deployed!

Just deployed 10 nodes to London! That's node61-node70.

That's 71 nodes in 7 different geographic locations!

Up nxt: TOKYO! Ii desu yo!

Status

Nodes deployed: 71
Nodes queued: 22

Data centers: Atlanta, Dallas, Chicago, Northern VA, Hong Kong, Sydney, London

Sponsorship

Since the last update I have received 31500 NXT for 10.3 more nodes until the end of March! Thank you!

To reach the goal of 100 public nodes by Jan 3, we need only 19500 nxt! So close! To support increased network robustness, please send 3000 nxt to 11243542237777034551 to sponsor a node until the end of March. Vanity nodes are available for 4500 nxt with your own hallmark and name.

Thank you to everyone working so hard to help NXT be a success.

wakasaki808
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December 26, 2013, 11:53:25 PM
 #8997

The reason why many of the NXT blocks are empty is because NXT needs more trading to occur for more blocks with values to occur
Don't turn Nxt into something personalized-thing, reason: low tx-activity and that's all  Wink

Wasn't really sure what you said...

but okay Tongue
gbeirn
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December 26, 2013, 11:54:28 PM
 #8998

Even more nodes deployed!

Just deployed 10 nodes to London! That's node61-node70.

That's 71 nodes in 7 different geographic locations!

Up nxt: TOKYO! Ii desu yo!

Status

Nodes deployed: 71
Nodes queued: 22

Data centers: Atlanta, Dallas, Chicago, Northern VA, Hong Kong, Sydney, London

Sponsorship

Since the last update I have received 31500 NXT for 10.3 more nodes until the end of March! Thank you!

To reach the goal of 100 public nodes by Jan 3, we need only 19500 nxt! So close! To support increased network robustness, please send 3000 nxt to 11243542237777034551 to sponsor a node until the end of March. Vanity nodes are available for 4500 nxt with your own hallmark and name.

Thank you to everyone working so hard to help NXT be a success.


Yay! Thanks! Keep up the good work!

NXT VPS Server Donations can be sent here: 6044921191674841550
At the end of each month I will donate some of them back to the community.
This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting.
ZeroTheGreat
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December 26, 2013, 11:54:37 PM
 #8999

Someone should do 3D-chart of spinning planet Earth with contacting nodes for sure  Roll Eyes
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December 26, 2013, 11:54:53 PM
 #9000

so sad people get scammed at nextcoin.org...

someone selling 500,000 NXT for 1.53 btc

he has 19 lots

so sad

Pin

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