NXT :: descendant of Bitcoin - Updated Information

[CIYAM]

This could be disastrous.

Again - it just doesn't seem very clear to me how we can do all these things - "forge with a solar powered cubie or the like", handle 1000+ TPS and also be able to handle a "Turing complete" transaction language (oh - and yes - be able to do it all on your average "smart phone").

[1714754460]

1714754460

[1714754460]

1714754460

[1714754460]

1714754460

[Come-from-Beyond]

Off Topic:

Anyone with working knowledge of greek language and crypto here?
translated: Yπαρχει κανείς εδω πoυ να γνωρίζει ελληνικά και αρχές κρυπτoγραφίας?

TIA
-Fo-

I bet a true cryptographer is able to read any language.

[gimre]

I could state that my penis is forging too, because I leased my forging power.

Best quote in this thread. I'm gonna save it for future generations.

[landomata]

Is the smartphone still a kind of node? I mean, does the smartphone add anything to the 'security' of nxt when it is running a lightweight client?

No.

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

Bitcoin is at 7 TPS ...smartphones can easily handle that....I think high end smartphones (Note 3 or Iphone 5S) can easily handle 1000 TPS....if you have fast internet.

Do you know for a fact that a NXT forging node can operate without having a local blockchain copy of 300 GB?  I don't know that, and nobody has told me that.  Somebody tell me that.  And my smartphone doesn't have 300 GB of storage.

There is a way to connect external storage to the smartphone but it really doesn't matter because  we are NO WHERE near 10 TPS much less 100 TPS much much much less 1000 TPS.

[wesleyh]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

[BitcoinForumator]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

[TwinWinNerD]

In the german speaking part of the world we have a saying for this kind of thing you want (1000 TPS + turning + xxxGB on smarthphone + sick internet) http://de.wikipedia.org/wiki/Eierlegende_Wollmilchsau it basically is a saying and means:  Egg-laying-cotton-giving-milk and meat-giving-pig

[CIYAM]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

Not disagreeing with the realities about how many TPS are likely to actually be "executed" but it is still not a good idea to be marketing something that can't actually (at this stage) be delivered.

[Come-from-Beyond]

Do you know for a fact that a NXT forging node can operate without having a local blockchain copy of 300 GB?  I don't know that, and nobody has told me that.  Somebody tell me that.  And my smartphone doesn't have 300 GB of storage.  And I couldn't afford to load that much data over the air anyway just to forge 1 NXT.

Well, guys. If u could wait till 2015 I would come and save u with my Qubic. It's a pure currency, no things like Asset Exchange, Aliases. No blockchain also. It doesn't store history, only current snapshot. U could use Qubic as cash and Nxt for everything else...

/end of advertisement.

[bitcoinpaul]

This could be disastrous.

Again - it just doesn't seem very clear to me how we can do all these things - "forge with a solar powered cubie or the like", handle 1000+ TPS and also be able to handle a "Turing complete" transaction language (oh - and yes - be able to do it all on your average "smart phone").

Right, let us dream a little bit. Ideas and vision are healthy. But we shouldn't kid ourself. We want to be taken seriously so we should be careful what to state in public and what not.

But maybe we get it all wrong and CfB / JL / BCNext have the answers. Maybe the mix of TF+ServiceProviders+parallelchains+shrinking = solution.

[pinarello]

We conclude: This forging smartphone marketing thing is kinda bs. I could state that my penis is forging too, because I leased my forging power. The only difference, for example to BTC, is, that we can run a lightweight working client on our smartphones to make transactions, without the forging (and thus network securing) function.

In fact I'd say that it's no different to operating an SPV client on a smartphone for Bitcoin (and is perhaps even less secure than that).

So - another point to those doing the marketing is probably going to be "forget the RPi and other tiny computers also".

@CfB - how will parallel chains help the situation?

This could be is disastrous.

[landomata]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

Reaching it may be possible but to sustain it over a long period of time would be something else.

31 billion transactions if we could maintain 1000 TPS for a year.


If we ever reach this level then we're on MAR!....forget MOON!

[pinarello]

I could state that my penis is forging too, because I leased my forging power.

Best quote in this thread. I'm gonna save it for future generations.

Lets make it our marketing slogan!

 my penis is forging too, because I leased my forging power

[BitcoinForumator]

1000 TPS is a theoretical number, in fact I'd wager that it would take at least 2 (possible more) years to have that many transactions per second. So no, you won't need 300GB available (per month).

Reaching it may be possible but to sustain it over a long period of time would be something else.

31 billion transactions if we could maintain 1000 TPS for a year.


If we every reach this level then we're on MAR!....forget MOON!

Forget MARS, when you have the tiniest problem called the Cryptsy not being able to process NXT.

[Passion_ltc]

In the german speaking part of the world we have a saying for this kind of thing you want (1000 TPS + turning + xxxGB on smarthphone + sick internet) http://de.wikipedia.org/wiki/Eierlegende_Wollmilchsau it basically is a saying and means:  Egg-laying-cotton-giving-milk and meat-giving-pig

You are from Germany?

[Hacer88]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

I thought our team spoke to the Cryptsy team in Miami and then we have sended an email to them. But it's true that we don't see any developments about this.

[Come-from-Beyond]

my penis is forging too, because I leased my forging power

Won't work for women... Can we use "Pin's" instead of "My" then?

[TwinWinNerD]

In the german speaking part of the world we have a saying for this kind of thing you want (1000 TPS + turning + xxxGB on smarthphone + sick internet) http://de.wikipedia.org/wiki/Eierlegende_Wollmilchsau it basically is a saying and means:  Egg-laying-cotton-giving-milk and meat-giving-pig

You are from Germany?

Wien

[okaynow]

I bet a true cryptographer is able to read any language.

True, but the request comes from a person with little crypto knowledge. I am looking for sources on crypto in greek, but can;t seem to find much. Obviously i will keep digging, but I need some help with proofreading, it would have to be someone who knows more on crypto than me, it should not be very hard.

I have been translating some pages on the wiki that are easy for a layman like me to understand, but i would like to make sure that my texts actually make sense before i continue with it.

Thank you.

[nakaone]

Why not focus on DE rather than this 1000(or 100) TPS?

Do you need that much horsepower (100TPS or more) when you have a Distributed Exchange?

To me DE seems much more attractive.

(note: talking from a layman's perspective)

The true layman is going to first come in contact with NXT at Crypsy.    Only an already-sold NXT enthusiast is going to have a NXT client that supports Distributed Exchange.

Again I say, our second highest bounty and our second highest team identification effort (after blockchain) should be a hand-in-hand approach to work with Cryptsy IT folks on a data/software bridge to get NXT on Cryptsy NOW!

You have a point.

A month ago I came upon the answer that the problem was the API.

Why does only Cryptsy have a problem with this? And not Bter, Dgex, Nxtchg.com and others?

I thought our team spoke to the Cryptsy team in Miami and then we have sended an email to them. But it's true that we don't see any developments about this.

if i remember correctly they want a client first and the re-evaluate.