NXT :: descendant of Bitcoin - Updated Information

[landomata]

@ Aldrin,
We will start a contest where the 10 best ideas for a client feature or application which would help Nxt grow over the next 5 years.
Total Development Fund Needed: Nxt 2,000,000
I can immediately start the thread where idea's can be deposited....Final voting can begin in a weeks time.
What do you guys think?

I agree with Aldrin that we need to let it grow naturally and see proven results before we spend funds.
Having a contest for 10 best ideas is good, but who will guarantee the implemetation. I would love to doante when I know someone like nexern/jean luc/cfb for example is standing behind it. This apply to software development, marketing and all other areas.
I don't have the time to do it myself, but I'll be happy to continue donating.

it would be managed just like the bounty system....once they deliver the feature/application then they get the bounty....so they can be sure if they invest time and energy into their idea they will get the bounty at the end.

200,000 Nxt is not a small amount.

[laowai80]

If you want the money system to tax savers with inflation or any other means, just use the USD or whatever fiat currency is used in your country, there is no difference then. I think it's against NXT's principles to infringe upon people's freedom to do whatever they want with their NXTs. The only penalty with the purpose to help keep network strong is if they don't forge - temporarily lose forging chances. Any other penalties would be dictatorship.

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

No it's not so different.

Why do you think the money would be sitting there, doing nothing?
As soon as the price goes up, the big stakeholders will be tempted to sell, the more price goes up, the more they are tempted to sell or invest in some enterprise, and so the money is put into circulation naturally.

If you force people to do something with their property, that's dictatorship. This was NOT defined in the NXT's original economic rules, and if you start changing economic rules arbitrarily, people first become confused and then they flock to a more stable system with economic rules set in stone from Day 1.

The only rules that should be allowed to be changed is the rules that define functioning of the network, which is the backbone of NXT, those can be tweaked to counteract different new attacks of the software, etc. But not the economic foundations.

[swartzfeger]

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

What Would Milton Do?

Who says the system isn't in equilibrium?

Once we stick our fingers in the pie, it's game over. Who gets to play Bernanke, Lagarde, et al?

[joris]

Why push aldrin to do anything? He can do whatever he wants with his stake. You can rest assured he's going to use it well, no need to blabla in my eyes. Supporting contributions to the project sounds fine.

The system won't work if all the big stakes just hoards a big stake. If he finally does as he said, basically his nxt become dead because it is only sitting there for forging without entering the economy.

If this would be the case, then the initial distribution of NXT to stakeholder is in fact the problem. It was decided to do it the way it was done. There is no way to change the rules now. IMHO, aldrin has every right to do what he want with his NXT - technically and morally.

Apart from that, I think that the system DOES work even when all the big stakes just hoard a big stake. There is still a certain percentage of NXT moving around.
Big stakes will probably not hoard forever. It depends on the price made by the moving NXT, the potential NXT still has (over time) and the temptation of cashing out.

Marcus (small-stake)

It is just like adding a feature to nxt network to counterreact hoarding. If you want all kind of cool stufs for nxt why don't you want a feature that will make nxt a sustainable system? I am big stake definitely in top100. I am also economist. I am taking a position for the best of nxt network and the idea of decentralization.

You can't live in a NXT, nor eat them and they won't satisfy any real world demand without transferring them to someone else. So there are always natural incentives to spend them. The flow or availability of a certain amount of currency isn't a useful target or goal (except for gaming systems like Central Banks do, blowing bubbles and supplying only those directly around them with free money), but the consequence of exchanging goods and services. Currency is a mean to facilitate the trade of non-fungible goods and services.

Demand and supply will find the circumstantial sweet exchange spot for NXT. Hoarding won't hurt any other holder of NXT, on the contrary.

When they get definitely lost, they won't drain any more NXT from the market by forging, but also less NXT remain in circulation anyways. 1 billion units is a rather low number, so they will get further divisible to keep a practical unit of exchange.

[klee]

From my IT guy:

DDoS Deflate is a  bash shell script which purpose is blocking a denial of service attack.

the following installation guide is about cent os .

How to install

1. Login to Cent OS as root
2. run terminal
3. run the following commands
a. "wget http://www.inetbase.com/scripts/ddos/install.sh"
b. "chmod 0700 install.sh"
c. "./install.sh"


Configure

After installing the script the following directories and files
will be created

program directory =/usr/local/ddos
program =/usr/local/ddos/ddos.sh
ignore_ip_list=/usr/local/ddos/ignore.ip.list
cron (scheduller) =/etc/cron.d/ddos.cron
apf ( advanced policy firewall) =/etc/apf/apf
ipt (iptables) =/sbin/iptables

edit configuration file

run the following command on terminal
cd /usr/local/ddos
vi ddos.conf
( to edit the file with vi editor just type "i" , when finished  press escape then ":" "w" "q" and enter )

Configuration file settings

Freq= ( how often the script is executed in minutes )
Ddos - cron ( cron sceduller update )
No_of_connections ( number of connections received before an IP is blocked )
Apf_ban ( 1 means that it will use apf , 0 it will use iptables )
Ban_period ( time in seconds to block an IP )
Email_to ( address to send an email when an IP is blocked )
Kill ( when value is 0 no IP is banned )


In case you get blank IP edit the main script ddos.sh and replace

"netstat -ntu | awk ‘{print $5}’ | cut -d: -f1 | sort | uniq -c | sort -nr > $BAD_IP_LIST"

with this one

"netstat -ntu | grep ‘:’ | awk ‘{print $5}’ | sed ‘s/::ffff://’ | cut -f1 -d ‘:’ | sort | uniq -c | sort -nr > $BAD_IP_LIST"
( be sure to keep the command in a single line )


Uninstall  DDos Deflate

1. Login to Cent OS as root
2. run terminal
3. run the following commands
a. "wget http://www.inetbase.com/scripts/ddos/uninstall.sh"
b. "chmod 0700 uninstall.sh"
c. "./uninstall.sh"

Post here any questions but PM me too because I am extremely busy the last days and I don't follow this thread!
I will forward them to my friend..

[utopianfuture]

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

What Would Milton Do?

Who says the system isn't in equilibrium?

Once we stick our fingers in the pie, it's game over. Who gets to play Bernanke, Lagarde, et al?

It is strange. I quoted Milton in my paper. I will leave the thought here for now. But I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Btw, when the minimum forging goes to 0.01 or 0.001, hoarding will have less impact to the system. We will see how it goes again in the future.

[laowai80]

I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Good, this will be a crucial decision. The sooner, it's brought up, the better. We need the voting system in NXT set up asap.

[pinarello]

Hey CfB, no new year presents? 


Pin

[marcus03]

It is strange. I quoted Milton in my paper. I will leave the thought here for now. But I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Where in the block of genesis does it say that NXT architecture is decided by community votes? I might have missed that. Does it also say there how votes are counted? One per account or one per NXT?

[Passion_ltc]

Does it also say there how votes are counted? One per account or one per NXT?

Per NXT.

[landomata]

I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Good, this will be a crucial decision. The sooner, it's brought up, the better. We need the voting system in NXT set up asap.

I actually think the market is doing fine....it's developing beyond my expectations....Bitcoin never had to face this type of environment...as noone knew it existed in the beginning and no one cared about distribution and that didn't kill it.

[utopianfuture]

Why push aldrin to do anything? He can do whatever he wants with his stake. You can rest assured he's going to use it well, no need to blabla in my eyes. Supporting contributions to the project sounds fine.

The system won't work if all the big stakes just hoards a big stake. If he finally does as he said, basically his nxt become dead because it is only sitting there for forging without entering the economy.

I think for the whole system to work, there has to be a tax against money not put into circulation. Cfb , is it possible to design such a scheme?

My suggestion is for big stake holders to pool their holding together (separate accounts but all donating to the same fund).

I'll summarise my position very specifically - i've got about 4% now - I sell down down at a steady rate to about 1%, and I add the bulk of remaining 1% to a the 'community forging fund' for communal funding efforts. Obviously if other big stake holders don't join in the forging would be slightly under 1% - but that's of all transactions on the network. If others joined me, it could be 5-10% - OF ALL TRANSACTION FEES GOING BACK INTO DEVELOPMENT - that would fund a lot of good things. We could have a budget and actually plan things (a little, I know decentralisation is king)

So my personal plan is this

1- steady dispersal of 3% of my 4% of NXT supply to other people in a calm and measured way (and I make money and feel good)
2- 1% is forging 24/7 for community funding - more if others join me (everyone feels good)


Criticise what I'm suggesting, but first understand my position. Ask questions. Don't assume.

Hi Aldrin I don't have any issue against your plan. I am very much allergic to wasteful spending so I think you has made a sensible decision to wait until the water more clear.

[laowai80]

I actually think the market is doing fine...

I agree, that's why I don't know why any economics need to be tweaked here. It'll all work out naturally with time like it should, and that's the best way.

[wesleyh]

Any public nodes have their bot access enabled? Please list here if so. Thank you!

[swartzfeger]

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

What Would Milton Do?

Who says the system isn't in equilibrium?

Once we stick our fingers in the pie, it's game over. Who gets to play Bernanke, Lagarde, et al?

It is strange. I quoted Milton in my paper. I will leave the thought here for now. But I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Btw, when the minimum forging goes to 0.01 or 0.001, hoarding will have less impact to the system. We will see how it goes again in the future.

Not to deal in hyperbole here, but it feels like we're writing The Wealth of Nations 2.0. As a community, which is very cool.

Congress moves to tax the internet... users migrate to NXT to avoid tax, retailers migrate to avoid interchange fees. Exciting stuff.

My fiancé thinks I'm a dork.

[utopianfuture]

I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Good, this will be a crucial decision. The sooner, it's brought up, the better. We need the voting system in NXT set up asap.

I am glad you agree with me on this point. Nxt is about decentralization and community based decision. I think that is BCNext's original idea even though he said he doesn't know much about economics.
This would be a feature that will attract many people coming to nxt network.

[landomata]

@ Wesleyh


Do you have any big ideas that need funding??


@ Aldrin/Neer.G....Wesleyh fits the bill...smart guy who delivers.




1) MAC OS X client with auto-update!

https://nextcoin.org/index.php/topic,708.0.html


2) Nxt Faucet - Free coins!

http://nxtra.org/faucet/


3) Random Nxt Nodes List

http://nxtra.org/nodes/

[klee]

Is anyone going to implement the anti DDoS measures I posted? Maybe tweak them for Ubuntu/Debian too?

EDIT: Guys we need to focus on the securities issues asap, we are going for prime time and must be sure everything will run smooth!

[wesleyh]

@ Wesleyh


Do you have any big ideas that need funding??


@ Aldrin/Neer.G....Wesleyh fits the bill...smart guy who delivers.




1) MAC OS X client with auto-update!

https://nextcoin.org/index.php/topic,708.0.html


2) Nxt Faucet - Free coins!

http://nxtra.org/faucet/


3) Random Nxt Nodes List

http://nxtra.org/nodes/

Thanks for your recommendation! Donations are of course always appreciated and an extra incentive to keep going. ( 3209075099254042753 )

I'm working on another new tool, hopefully I can get it ready today. I need some people to run their nodes with bot access enabled for this to work though.

I do not work on super huge projects that take months to develop, rather smaller projects that help grow the community and are in the spirit of open-source.

[aldrin]

Why push aldrin to do anything? He can do whatever he wants with his stake. You can rest assured he's going to use it well, no need to blabla in my eyes. Supporting contributions to the project sounds fine.

The system won't work if all the big stakes just hoards a big stake. If he finally does as he said, basically his nxt become dead because it is only sitting there for forging without entering the economy.

I think for the whole system to work, there has to be a tax against money not put into circulation. Cfb , is it possible to design such a scheme?

My suggestion is for big stake holders to pool their holding together (separate accounts but all donating to the same fund).

I'll summarise my position very specifically - i've got about 4% now - I sell down down at a steady rate to about 1%, and I add the bulk of remaining 1% to a the 'community forging fund' for communal funding efforts. Obviously if other big stake holders don't join in the forging would be slightly under 1% - but that's of all transactions on the network. If others joined me, it could be 5-10% - OF ALL TRANSACTION FEES GOING BACK INTO DEVELOPMENT - that would fund a lot of good things. We could have a budget and actually plan things (a little, I know decentralisation is king)

So my personal plan is this

1- steady dispersal of 3% of my 4% of NXT supply to other people in a calm and measured way (and I make money and feel good)
2- 1% is forging 24/7 for community funding - more if others join me (everyone feels good)


Criticise what I'm suggesting, but first understand my position. Ask questions. Don't assume.

Hi Aldrin I don't have any issue against your plan. I am very much allergic to wasteful spending so I think you has made a sensible decision to wait until the water more clear.

Thanks utopianfuture, I appreciate your comment! I too am looking to avoid wasteful spending and maximise NXT potential! I feel confident in the collective inteligence of NXT users at this moment in time. We can make NXT work!