NXT :: descendant of Bitcoin - Updated Information

[mcjavar]

Once the price of Nxt raches $1, I will walk from Sydney to Brisbane (~1100km) and write a blog about it. (I am a fat IT guy and I never walked more than 3 km at a stretch)

Just to let you know.

[Come-from-Beyond]

Shit, that is bad! 

Solutions? Maybe a DAC???

Awaken man's switch?? 

Dunno. Time to invest 1M NXT into development of technology that protects in such cases...  

[LiQio]

In your test case with 5 accounts of 10 nxt und 1 account of 50 nxt, the 50 nxt account should forge 61.5% of all blocks and the other account together 38.5%.
But your code let's the big account forge about 83% and thus he creates longer streaks than he really would.

So if the figures from the blockchain are correct then the forging algo results look closer to the "log" results even though it is not using "log".

Unfortunately I am not sure how to make my simulator work the same - and I am unable to "parse" the Java so if someone could work out a closer simulation we'd be able to continue with this analysis.

Is this not related to this?: https://bitcointalk.org/index.php?topic=364218.msg4861016#msg4861016

[klee]

Once the price of Nxt raches $1, I will walk from Sydney to Brisbane (~1100km) and write a blog about it. (I am a fat IT guy and I never walked more than 3 km at a stretch)

Just to let you know.

Try ketogenic diet

[klee]

Shit, that is bad! 

Solutions? Maybe a DAC???

Awaken man's switch?? 

Dunno. Time to invest 1M NXT into development of technology that protects in such cases...  

Are you listening 50M NXT hoarders?

[mcjavar]

Once the price of Nxt raches $1, I will walk from Sydney to Brisbane (~1100km) and write a blog about it. (I am a fat IT guy and I never walked more than 3 km at a stretch)

Just to let you know.

Try ketogenic diet

or try not to eat for 3 weeks

[BitcoinForumator]

Once the price of Nxt raches $1, I will walk from Sydney to Brisbane (~1100km) and write a blog about it. (I am a fat IT guy and I never walked more than 3 km at a stretch)

Just to let you know.

Try ketogenic diet

+10

* but do it right (enough fat, not too much protein, carbs on average under 50g...)

[starik69]

Very strange. On 0.8.xe versions after several hours my node always forks. That was not the case on 0.7.x. I usually forged >1 block a day but on 0.8 i got nothing  
Downgrading.

[igmaca]

I would like introduce to the discussion the concept of sharing fees when small account decide to use a pool for receive fees more frequently over time.

Everybody talks about "leasing forging power of a account to another account to create pools". This involves reducing the number of nodes to the number of pools.

I maintain that it is better to keep the funds and forging power of each small account in the small account node

Is Not better the concept of sharing fees if your account is successful and forge?

who can refute my idea?

Dafuq did you just say (once again)? o_0

leasing forging power of a account to another account to create pools

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 0 Node participate in forging
Mary account  9.900 Nxt 0 Node participate in forging
Bob account  100 Nxt 0 Node participate in forging

Total pool 100.000 Nxt 1 Node paticipate in forging
Total 1 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
10.000 Node participate in forging




Sharing fees

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool

John account  90.000 Nxt 1 Node participate in forging
Mary account  9.900 Nxt 1 Node participate in forging
Bob account  100 Nxt 1 Node participate in forging

Total pool 100.000 Nxt
Total Nodes 3 Node participate in forging

Chance to forge 0,0001
rate forging 1440 blocs per day
52,6 Blocs per year
aprox 1 Bloc per week

1.000.000.000 Nxt Coin
100.000 Nxt Coin per pool
30.000 Nodes participate in forging. if there are only three accounts linked per pool

I am wrong?

I suppose 30,000 nodes are sufficient to ensure the network

Now imagine if I am correct with 1,000,000 Nxt coins pools

1.000.000.000 Nxt Coin
1.000.000 Nxt Coin per pool

10 accounts  90.000 Nxt 10 Node participate in forging
10 accounts  9.900 Nxt 10 Node participate in forging
10 accounts  100 Nxt 10 Node participate in forging

Total pool 1.000.000 Nxt
Total 30 Nodes participate in forging

Chance to forge 0,001
rate forging 1440 blocs per day
526 Blocs per year
aprox 1,44 Blocs per day. 100 Nxt account is forging every day. receives fees in proportion to their funds every day!!!

1.000.000.000 Nxt Coin
1.000.000 Nxt Coin per pool
30.000 Nodes participate in forging. if there are only 30 accounts linked per pool

[bitcoinpaul]

Sorry, is it you or my headache Could you make an effort to explain your idea a little better?

[EmoneyRu]

Androklis Polymenis (me) donates a million digital NXT coins to BPF! $43,000. https://twitter.com/Lets_Upgrade/status/438525224368107520

opticalcarrier, reserve bpf.vps.nxtcrypto.org for them.

[igmaca]

Sorry, is it you or my headache Could you make an effort to explain your idea a little better?

if I'm not wrong?

with " forging power of leasing to account to another account to create pools " only node account pool must be active to participate in the forge.

With my proposal all nodes accounts must be active to participate in the forge

[okaynow]

Androklis Polymenis (me) donates a million digital NXT coins to BPF! $43,000. Press release [PDF]: http://goo.gl/t8tWY8
https://twitter.com/Lets_Upgrade/status/438525224368107520

μπράβo ρε ψυχή. Mακάρι να ακoλoυθήσoυν κι άλλoι τo παράδειγμα σoυ.

[rickyjames]

Texas Bitcoin Conference Brochure Draft

Well, everyone that has looked at my draft copy of this in past pages has said it looks like some old guy with no artistic sense whatsoever did it on Microsoft Word.  

Well, ah, yes.  That would be me.

So I've sent the file to mvag and w4lace who have offered to help make it look better.  Thanks, y'all!

I'll post their update here when I get it...

[antanst]

Androklis Polymenis (me) donates a million digital NXT coins to BPF! $43,000. Press release [PDF]: http://goo.gl/t8tWY8
https://twitter.com/Lets_Upgrade/status/438525224368107520

Eύγε :-)

μπράβo ρε ψυχή. Mακάρι να ακoλoυθήσoυν κι άλλoι τo παράδειγμα σoυ.

+1

[nxtsky]

Shit, that is bad!  

Solutions? Maybe a DAC???

Awaken man's switch??  

Dunno. Time to invest 1M NXT into development of technology that protects in such cases...  

Are you listening 50M NXT hoarders?

Why they hoard so many coins? They can't sell all of this coins anyway. From the block chain, these account(2159498187382012684,4747512364439223888,9433259657262176905,14571285356259793594) have more than 45M NXT(some of them split they account). Please sell it, donate it, anyway. The price will be never going up too far if they hoard so many coins.

[klee]

Androklis Polymenis (me) donates a million digital NXT coins to BPF! $43,000. Press release [PDF]: http://goo.gl/t8tWY8
https://twitter.com/Lets_Upgrade/status/438525224368107520

Eύγε :-)

μπράβo ρε ψυχή. Mακάρι να ακoλoυθήσoυν κι άλλoι τo παράδειγμα σoυ.

+1

Eυχαριστώ ρε παιδιά, πρoσπαθώ όσo μπoρώ!

[rickyjames]

NXT FUNDING COMMITTEE VOTE STARTS IN 60 HOURS
AT 12:01 AM MARCH 1 (UTC)

Remaining eligible nominees with as-yet undeclared intentions (PM me if you want off this list):

2Kool4Skewl, Arckam_(frmelin), bitcoinpaul,  buybitcoinscanada, Cointropolis_JustabitTime, Come-from-Beyond
Damelon, davethetrousers, drevil,   ferment, Fry, hughmanwho, Jean-Luc, jl777, Klee, landomata, laowai80,  msin, mww
nexern, opticalcarrier, PeercoinEnthusiast,  Pouncer,  Ricot, SecondLeo, smaragda,  VanBreuk,  ZeroTheGreat


Something Zahlen said:  A candidate does not need to be good at writing English. Some candidates may not have English as their mother tongue. If you're voting, don't confuse lots of writing for ability to judge the worth of a project. Remember that ultimately the committee's job is to decide which projects get funded.

If you are on this list and want to be on a NXT funding committee, go here:

https://bitcointalk.org/index.php?topic=479167.msg5280476#msg5280476

Background:

https://bitcointalk.org/index.php?topic=345619.msg5280786#msg5280786

WE NOW HAVE A FULL SLATE

(Actually, antanst was a little late to the nominee party and was never on the blue list above.  But he's a coder, he runs multiple NXT nodes and he wrote the NXT Reddit tipbot.  Since I'm drunk with power and making the rules here, I say he's now a candidate for techdev.  If you disagree, don't vote for him - run against him!).

http://en.wikipedia.org/wiki/Full_slate

Good luck to these nominees who have declared themselves candidates:


NXTmarketingfund: allwelder, Damelon,  Mario123, Asian Prepper, joefox, brooklynbct, CoinTropolis_NiftyNikel, Uniqueorn, salsacz
NXTtechdevfund: EmoneyRu, Anon136, l8orre, abuelau, antanst
NXTinfrastructurefund: rickyjames, chanc3r, EvilDave, pandaisftw, ChuckOne, ^[GS]^


Yeah, you may have seen this before.  I'll be putting it up every ten pages or so.  It's one of those "legitimate, transparent process" things.

[EmoneyRu]

[mini-ANN] Nxt-kit works at FREE VPS OpenShift.

[cryptolawyer]

What do you guys think about building some kind of decentralized insurance directly into the coin to provide peace of mind that something like Gox can't happen to Nxt?

Details and more info here:
https://nextcoin.org/index.php/topic,4186.0.html

The decentralized exchange helps too but being able to used an insured bank to store your Nxt would provide a certain peace of mind.  It's the reason my dad has been convinced that cryptos will fail.. because they aren't insured, therefore he'd never feel safe storing them anywhere and I'm sure he's not the only one.  It's a necessity when it comes to non-techy people in my mind.

And as Rahm Emanuel says (dislike him but he's got a point on this topic): Never let a good crisis go to waste!

The fundamental difference between a sovereign standing behind bank deposits denominated in its own fiat and any correlarry in the crypto world is that a sovereign can print more money, and can theoretically insure against loss of ALL deposits. The consequences of actually doing so would be dire, of course, but you could never backstop crypto deposits with the same level of assurance.

Capital adequacy rules could help with some of the risk, and I could imagine a decentralized approach to enforcing such rules as between assets and liabilities denominated solely in crypto (James' cross chain work could have very powerful application here). With fiat on the balance sheet, we have a TTP issue, but with adequate auditing that risk should be manageable, and in any event it would be way better than what we have now.

Will it be enough to convince our collective moms and dads to keep crypto on such a platform? That's the hard (and more important) question.