NXT :: descendant of Bitcoin - Updated Information

[igmaca]

 little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

I think forging should be more interactive.

For example:
Someone started a node with 10000 NXT, waited for 1 week, still 10000 NXT -> Boring.
plus no idea, if it actually worked or not, maybe even a false run.

Other example:
Someone started node with 10000, in 6 hours he get 10000.0001
Pool functionality but with no risk.
There are lots of people who can run a node at work with no cost (for them ). We should show them they can earn some doing nothing.

I dont start bitcoin / other miner coz a lot of cooler noise. NXT makes no noise  

I see some connection between your idea and "Shared Forging". In case we can Share to 1000 accounts or equivalent of 1M NXT.

"Shared Forging" sounds to me much more better then "Leased Forging" which leads to big pools.

Today's Forging person with small NXT amount will wait 50 years to see forged block.
Shared Forging person will see progress every day or week and get 0.001 NXT and not 20 NXT every 50 years.

Forging / earning situation is disappointment for new people. And then they will talk bad about Nxt.

someone who understands me

finally   

[bitcoinpaul]

So I am in the group which is about to forge the next block, but for whatever reasons (maybe too few fees in it, transaction from and to accounts we don't like... Be creative), we all say independently "no, we don't want".  If there is no penalty, this can happen often. Wouldn't this hurt the network?

[redsn0w]

Thank you  8220066011284257438 for your donation

http://87.230.14.1/nxt/nxt.cgi?action=2000&tra=12008684443818207685

[igmaca]

 little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

I think forging should be more interactive.

For example:
Someone started a node with 10000 NXT, waited for 1 week, still 10000 NXT -> Boring.
plus no idea, if it actually worked or not, maybe even a false run.

Other example:
Someone started node with 10000, in 6 hours he get 10000.0001
Pool functionality but with no risk.
There are lots of people who can run a node at work with no cost (for them ). We should show them they can earn some doing nothing.

I dont start bitcoin / other miner coz a lot of cooler noise. NXT makes no noise  

I see some connection between your idea and "Shared Forging". In case we can Share to 1000 accounts or equivalent of 1M NXT.

"Shared Forging" sounds to me much more better then "Leased Forging" which leads to big pools.

Today's Forging person with small NXT amount will wait 50 years to see forged block.
Shared Forging person will see progress every day or week and get 0.001 NXT and not 20 NXT every 50 years.

Forging / earning situation is disappointment for new people. And then they will talk bad about Nxt.

someone who understands me

finally  

if you only shared your rights fees forging power remains extremely decentralized.

at the same time forging should be more interactive.  

Little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

[CIYAM]

So I am in the group which is about to forge the next block, but for whatever reasons (maybe too few fees in it, transaction from and to accounts we don't like... Be creative), we all say independently "no, we don't want".  If there is no penalty, this can happen often. Wouldn't this hurt the network?

Not unless everyone was doing that - under TF you are expected to have 3 or 4 nodes "competing" to forge for every block (and thus 2 or 3 are being penalised).

The incentive to forge is to make fees so it makes very little sense to "not forge" (I know at the moment we have many blocks with zero fees but I don't expect that to be the case down the track).

[bitcoinpaul]

If you forge a block now, you cannot forge the next 1440 blocks?

[CIYAM]

If you forge a block now, you cannot forge the next 1440 blocks?

If you "do not forge your block" when your turn is supposed to be now (and which I understand applies to 3 or 4 nodes at the same time under TF) then you cannot forge for the next 1440 blocks.

[igmaca]

 little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

I think forging should be more interactive.

For example:
Someone started a node with 10000 NXT, waited for 1 week, still 10000 NXT -> Boring.
plus no idea, if it actually worked or not, maybe even a false run.

Other example:
Someone started node with 10000, in 6 hours he get 10000.0001
Pool functionality but with no risk.
There are lots of people who can run a node at work with no cost (for them ). We should show them they can earn some doing nothing.

I dont start bitcoin / other miner coz a lot of cooler noise. NXT makes no noise  

I see some connection between your idea and "Shared Forging". In case we can Share to 1000 accounts or equivalent of 1M NXT.

"Shared Forging" sounds to me much more better then "Leased Forging" which leads to big pools.

Today's Forging person with small NXT amount will wait 50 years to see forged block.
Shared Forging person will see progress every day or week and get 0.001 NXT and not 20 NXT every 50 years.

Forging / earning situation is disappointment for new people. And then they will talk bad about Nxt.

someone who understands me

finally  

if you only shared your rights fees forging power remains extremely decentralized.

at the same time forging should be more interactive.  

Little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

the key is automatically grouped all the accounts that want to forge in bags 100000 nxt for example

[bitcoinpaul]

But if you forge a block now, are you able to forge the next blocks also?

[igmaca]

 little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

I think forging should be more interactive.

For example:
Someone started a node with 10000 NXT, waited for 1 week, still 10000 NXT -> Boring.
plus no idea, if it actually worked or not, maybe even a false run.

Other example:
Someone started node with 10000, in 6 hours he get 10000.0001
Pool functionality but with no risk.
There are lots of people who can run a node at work with no cost (for them ). We should show them they can earn some doing nothing.

I dont start bitcoin / other miner coz a lot of cooler noise. NXT makes no noise  

I see some connection between your idea and "Shared Forging". In case we can Share to 1000 accounts or equivalent of 1M NXT.

"Shared Forging" sounds to me much more better then "Leased Forging" which leads to big pools.

Today's Forging person with small NXT amount will wait 50 years to see forged block.
Shared Forging person will see progress every day or week and get 0.001 NXT and not 20 NXT every 50 years.

Forging / earning situation is disappointment for new people. And then they will talk bad about Nxt.

someone who understands me

finally  

if you only shared your rights fees forging power remains extremely decentralized. Forging power never lease

at the same time forging should be more interactive.  

Little hobbyists will be interested if forging every 2 to 3 days and profit must greater than cost of maintaining the node and remain immobilized the funds (oportunity cost)

the key is automatically grouped all the accounts that want to shared your rights fees in bags 100000 nxt for example in every moment

accounts with more than 100000 nxt forged individually

[redsn0w]

But if you forge a block now, are you able to forge the next blocks also?

yes of course

[wesleyh]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

[redsn0w]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

reboot

[wesleyh]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

reboot

From within my code.

[gs02xzz]

My gut feeling is that forging NXT will never be profitable for anybody.

I think it is going to be profitable for a few pools mostly and I predict that in the future most forging power will be locked up in ATs that act as "interest bearing accounts" (http://ciyam.org/nxt/nxt_dormant.html).

It is up to the community to make sure that we don't just end up with a small number of pools and a few hundred hobbyists.

If we worry we will end up with few pools, we can cap the pool size to force more pools being created.

[redsn0w]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

reboot

From within my code.

with 

Code:

kill -9 #ID process 

[wesleyh]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

reboot

From within my code.

with 

Code:

kill -9 #ID process 

thx

[redsn0w]

@jean-luc i can't seem to quit the java process (from within my code). I tried sending kill(SIGTERM) and SIGHUP but it just seems to be ignored. Is there anything else I need to do?

reboot

From within my code.

with 

Code:

kill -9 #ID process 

thx

it works ?

[rickyjames]

My gut feeling is that forging NXT will never be profitable for anybody.

I think it is going to be profitable for a few pools mostly and I predict that in the future most forging power will be locked up in ATs that act as "interest bearing accounts" (http://ciyam.org/nxt/nxt_dormant.html).

It is up to the community to make sure that we don't just end up with a small number of pools and a few hundred hobbyists.

If we worry we will end up with few pools, we can cap the pool size to force more pools being created.

In which case, forging NXT will never be profitable for anybody.

[wesleyh]

it works ?

yep :-)