NXT :: descendant of Bitcoin - Updated Information

[landomata]

OK... talk to you NXT Year everybody!!!   

PEACE

2014 is NXT year  

[Come-from-Beyond]

fan art
http://savepic.org/4853099.jpg

i like the left one better. Maybe I should get back to BTC...

Also a bitcoiner has 3 girls while a nxter only one...

[ZeroTheGreat]

Nah, no central authority

No, incorrect. Global Voting can bring step-by-step decisions touching whole system done by one single mind. W/o Global Voting it's impossible inside system.

[salsacz]

1 Nxt = 1 vote for some votes (like in the company)

1 mined block = 1 vote for bigger votes (like in the company, where only experienced and providing members can vote)

[Come-from-Beyond]

Why do you personally need a Global Voting? For decide what kind of things exactly?

To vote on adding alias transfer.

[rickyjames]

Trying to get 0.4.8 going...can somebody tell me the current correct block number / height?

[ZeroTheGreat]

1 Nxt = 1 vote for some votes (like in the company)

1 mined block = 1 vote for bigger votes (like in the company, where only experienced members can vote)

Companies, companies. OK (In case there'll be no blocking too, just sharing profit). Why appeared Global Voting where some accs can block another?

[Come-from-Beyond]

@CFB
Why he says to preserve our .nxt files? Can't i just upgrade and reload transactions-blocks?

U can, I don't mind. Just make sure that we won't do it simultaneously...

[chanc3r]

What is global voting and what is local voting? When did those terms come into being?

As I reconginze, local Voting a thing to decide how control companies under groups. Dividents, strategy etc. No problem.

And Global Voting'll bring us things like blocking someone's acc or changing algos or something else, things that touch whole system? So all I'm trying to do now it's to know that what any supporter of Global Voting expects from it? What kind of problems he hopes to solve with Global Voting (in anonymous decentralized payment system)? Or it's blind support?

Isn't this just about scope..

for NXT - all holders of the NXT asset should have a right to vote/influence on decisions that affect the whole of the NXT asset
for an asset held within the exchange - then the scope should be restricted to holders of that asset rather than all holders of the NXT asset.

[EpicThomas]

NRS 0.4.8 is ready and can be downloaded from:

http://info.nxtcrypto.org/nxt-client-0.4.8.zip

sha256: ec7c30a100717e60d8abe50eedb23641952847d91ff90b9b05a74ff98d8a4cf2

From now on I will also be posting the latest version number and sha256 as the value of NRSversion alias on the blockchain: https://localhost:7875/nxt?requestType=getAliasURI&alias=nrsversion

Change log:

- Added Transparent Forging, will be turned on at block 32000.
- Memory leak fixed.
- Send money from the browser now also asks for the secret phrase.

There is only one new parameter in the web.xml, myPlatform. It is used to announce your platform - PC, Mac, Raspberry, NeXTstation, VAX, zombie...

The zip file does not contain blocks.nxt and transactions.nxt. Make sure you preserve your own *.nxt files before upgrading!

Cheers

I guess it's just easier.
Mine updated fast once I inserted peers.

[ZeroTheGreat]

Why do you personally need a Global Voting? For decide what kind of things exactly?

To vote on adding alias transfer.

It's up to devs IMO. What new code can they suggest. And nodes'll decide install updates or not. Why built-in? If 51%+'ll decide that they wanna make a world better place (in thie view) every dev immidiately should start working on this?!

[Come-from-Beyond]

will nxt be more as a payment system?

Yes, someone already registered skynxt alias, or something like that

[landomata]

[quote author=chanc3r link=topic=345619.msg4237880#msg4237880

for NXT - all holders of the NXT asset should have a right to vote/influence on decisions that affect the whole of the NXT asset
for an asset held within the exchange - then the scope should be restricted to holders of that asset rather than all holders of the NXT asset.
[/quote]

Edit:

The voting system will allow you to vote along Asset ownership lines...thats why its soooooo cool.

[ZeroTheGreat]

Why NXT is asset? It's bigger than that. It's decentralized payment system with written down scheme of sharing profit (fees). Am I right? PoS+TF push potential maleficent center away to 90%+ of all coins to attack. And Global Voting simply get it back to cheaper area. What I am missing?
   

[Damelon]

1 NXT = 1 vote

1 account = 1 vote

which one do you support?

I'd prefer 1 Nxt = 1 vote, with a built-in safety for hostile takeovers.

[pandaisftw]

You guys need to keep in mind that voting in NXT is not the same as voting in a democratic government.

Who there really need a built-in goverment inside payment system. Stand up and say. I wanna rely on math here, for example.

We are not deciding laws of what people can and cannot do in their lives, we are deciding the direction of NXT through the VS.

The risk of 51% of stakeholders deciding, for example, to randomly destroy someone's account without a valid reason will have dire consequences, such as investors losing confidence in the system, thus causing a massive sell-off. Thus, it would not be in the 51%'s interest to just randomly destroy accounts. However, if there is a valid reason, such as a very large stakeholder intentionally distributing false blocks to attack the network (which can be proven, apparently), then the rest of the network can defend against this by perhaps voting to include that peer in the default blacklist (or just reduce his traffic), or even more drastically to freeze his funds.

My point is that the >51% stakeholders will never, ever (unless it's 1 or a few persons with enormous accounts conspiring. This is a concern if it does happen, but right now NXT is not even close to that, top holder is 5%) decide to do something that would cause the value of NXT to go down, thus hurting themselves. There may be other issues, if there are, I would like to hear them - after all that is why were are discussing this in the first place.

So now that's out of the way, there can be many positives of this system. First, deciding which features should be prioritized, funded and released. Secondly, to increase the number of sub-divisible units, for example, to cents. Etc. the list goes on. Without some kind of global agreement, then it would be hard to claim the system is truly decentralized. Like others have mentioned before, perhaps we could have different categories/levels of voting, because it is unrealistic to expect everyone to care enough to vote:

Related to accounts: Require >51%, period.
Related to features: Require a majority vote.

So in a way, it this can be translated to a democracy. Imagine 1 NXT = 1 Person. 1 Person = 1 Vote. Completely fair.

[utopianfuture]

Why NXT is asset? It's bigger than that. It's decentralized payment system with written down scheme of sharing profit (fees). Am I right?

No you are wrong. Payment system is just one feature. Alias system, asset exchange would eventually have more impact than payment system. NXT is a network or a complete system.

[landomata]

Why NXT is asset? It's bigger than that. It's decentralized payment system with written down scheme of sharing profit (fees). Am I right?

Nxt the currency Unit is an Asset....but other Assets will also be traded on the Nxt Asset Exchange.

 

[Come-from-Beyond]

It's up to devs IMO.

I disagree. Stakeholders ought to decide.

[NxtChoice]

@CfB, @Jean-Luc

A progress report to you:

My public VPS node, latop computer and PI now work fine with 0.4.8 client, and now all @29257

Especially the PI works great than before.

Thanks you guys.