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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2760139 times)
eightspaces
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March 03, 2014, 07:55:37 PM
 #39901

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Well that is ~$1 and you have 219'934 Nxt in your account Grin  Sick == the most unprofitable coin ever where forging isnt even an incentive for securing the network...?! Grin

Isnt nxt forging completely flawed?

which is why we will see things like nodecoin v2.0 and stuff in the future to give incentive to help secure the network. For the people that want to gain something by doing it.

Forging is a good-deed. I do it because it costs little power and I am helping to do good for NXT.

  God I dislike forging.  My hundreds of thousands of Nxt earn wizen peanuts in stake as well, my VPS costs me way more to contribute to the network than I can earn. We are just those who host the network for the greedy 50M+ stakeholders forging all the blocks.  I have to rethink this, considering that I really love(d) Nxt.

Fuck forging $0.1-1 with 200000+ Nxt. This is ridiculous.
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wakasaki808
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March 03, 2014, 07:58:14 PM
 #39902

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Well that is ~$1 and you have 219'934 Nxt in your account Grin  Sick == the most unprofitable coin ever where forging isnt even an incentive for securing the network...?! Grin

Isnt nxt forging completely flawed?

which is why we will see things like nodecoin v2.0 and stuff in the future to give incentive to help secure the network. For the people that want to gain something by doing it.

Forging is a good-deed. I do it because it costs little power and I am helping to do good for NXT.

  God I dislike forging.  My hundreds of thousands of Nxt earn wizen peanuts in stake as well, my VPS costs me way more to contribute to the network than I can earn. We are just those who host the network for the greedy 50M+ stakeholders forging all the blocks.  I have to rethink this, considering that I really love(d) Nxt.

remember there are no new coins being minted. Such as those in Peercoin, MINT, etc. where they haven't hit there max supply which is why you gain "stakes". NXT forging is based on transaction fee's that happen in the network. More transaction's being placed = more blocks with 1< NXT inside of it.  Also there is only 2 accounts (based on the blockchain) with more than 50+M NXT, much less compared to the early days.
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March 03, 2014, 07:58:55 PM
Last edit: March 03, 2014, 08:10:38 PM by Anon136
 #39903

also this helps to protect against domain squatting. thats a really big deal since the person who acquires a domain is the monopoly provider meaning he has the leverage to charge outrageous prices as soon as he knows that someone wants it. if we didnt put a price on it than people would go crazy and reserve every domain imaginable and anyone who wanted to issue an asset would have to pay CRAZY prices. The net effect of making asset registration cheap would be that getting the asset you wanted would be orders of magnitude more expensive than if there was simply a cost for registering to begin with.

*edit* incidentally i really like the idea of having tiers of asset classes. that gives us the best of both worlds.

You're looking at a squatter here. Neither proud nor ashamed to admit it. Ok, maybe a little bit of shame, but I'll take that up with a future therapist if NXT ever goes lunar. Wink

I'm not sure if there are different 'types' of squatters. I've squatted aliases because 1) I see an opportunity and 2) I really have no other feasible way of expanding my NXT hodlings. None of my aliases were registered until after Dec 25, and some of the ones available were amazing.

How long have we been talking about Auroracoin? I registered AUR this morning. Squatting? Or people walking past a metaphorical bag of cash on a street corner? I'm asking this sincerely because I have mixed feelings about registering things I have no plans to personally use. With that said, on anything I have no plans to use, I'd never ransom them for exorbitant fees, or would simply give them away.

I'm torn on the AE fee of 1 vs. 1000. A fee of 1000 will stop people like me from issuing an asset; on the other hand, it will stop people like me from issuing an asset. Cheesy

It will definitely limit the number of assets I will issue (I hodl about 7900 NXT).

Having a fee of 1000 won't stop squatting. Mitigate, but not stop.

The fear, I think, is the people who are squatting will control assets to further their self-interest vs. that of the community/ecosystem. Hopefully, people that do sit on an asset/alias will realize that the strength of Nxt is in their self-interest and act accordingly.

i never blame people for responding rationally to incentives. if assets were free to register i would probably register as many as i could as well, while still disagreeing with the general premise. its just another example of the tragedy of the commons. my interest is not in blaming people for being rationally self interested, but in crafting an incentive structure where rational self interest leads to outcomes that maximize utility.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
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March 03, 2014, 08:12:02 PM
 #39904

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Well that is ~$1 and you have 219'934 Nxt (~10491 USD) in ur account Grin  

Sick and "exited" => the most unprofitable "coin" ever where forging isnt even an incentive for securing the network...?!?! Grin

Isnt nxt forging completely flawed?

You don't get it? Right?

If i had invested 10.000$ into mining hardware i would end up with about 11.000$ bitcoins (if you are lucky Wink ) somewhere in the future with worthless mining rig.
Now i invested 10.000$ (actually way less) and profit from all the appreciation of the currecny. Also i get about 0.5% intrest, all i have to do is run the java applet in the background, it uses near zero resources.

pandaisftw
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March 03, 2014, 08:12:16 PM
 #39905

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Well that is ~$1 and you have 219'934 Nxt in your account Grin  Sick == the most unprofitable coin ever where forging isnt even an incentive for securing the network...?! Grin

Isnt nxt forging completely flawed?

which is why we will see things like nodecoin v2.0 and stuff in the future to give incentive to help secure the network. For the people that want to gain something by doing it.

Forging is a good-deed. I do it because it costs little power and I am helping to do good for NXT.

  God I dislike forging.  My hundreds of thousands of Nxt earn wizen peanuts in stake as well, my VPS costs me way more to contribute to the network than I can earn. We are just those who host the network for the greedy 50M+ stakeholders forging all the blocks.  I have to rethink this, considering that I really love(d) Nxt.

Fuck forging $0.1-1 with 200000+ Nxt. This is ridiculous.

I simply setup my node on a VPS, and I've forgotten about it for a week or so. It's really not that much of an hassle, the devs have done good work to make it really stable (anyone remember the early days?)

Instead of staring at the "Time to forge next block..." timer, I think you'd be better off (and less frustrated) by thinking of bright ideas that will take advantage of features NXT has to offer, like the Asset Exchange.

NXT: 13095091276527367030
Eadeqa
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March 03, 2014, 08:12:46 PM
 #39906

Arurra is good example of how human behave. When they see big "+" on coinmarket they buy even more.

This is something that Nxt users should keep in mind. keeping prices low or negative deliberately doesn't mean people are going to buy more. They buy it when prices are way up in last 24 hours.

NXT-GZYP-FMRT-FQ9K-3YQGS
https://nxtforum.org
Fatih87SK
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March 03, 2014, 08:15:45 PM
 #39907

Arurra is good example of how human behave. When they see big "+" on coinmarket they buy even more.

This is something that Nxt users should keep in mind. keeping prices low or negative deliberately doesn't mean people are going to buy more. They buy it when prices are way up in last 24 hours.

+1

Everyone had the chance to get in. Next stop 20k satoshi!

bitcoinpaul
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March 03, 2014, 08:15:54 PM
 #39908

Let's declare monday evening as "BCNext says" time

What if a next Silk Road is hosted on the blockchain?  No servers required, no owners existed...

# Messaging to describe substances products/send encrypted delivery address
# Reputation System to see how reliable a seller is
# Two-phase payments to protect buyers

And here is proof that he must have used silk road himself Grin

I have an idea to code colored coins with R, G, and B components, a coin with FF00FF code would look as purple in the client.  It is a good idea?

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March 03, 2014, 08:16:23 PM
 #39909

Our first public face on the bitcoin convention site, now we can see how looks NxtMinnow Cheesy

http://www.coinsumm.it/

(one of the 2 speakers we got thanks to negotiations in Berlin )

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
TwinWinNerD
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March 03, 2014, 08:25:44 PM
 #39910





trippy  Shocked

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March 03, 2014, 08:26:44 PM
 #39911

Our first public face on the bitcoin convention site, now we can see how looks NxtMinnow Cheesy

http://www.coinsumm.it/

(one of the 2 speakers we got thanks to negotiations in Berlin )

Looks like this is going to be big.

Is anyone else going to support him or is he alone there?

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March 03, 2014, 08:31:36 PM
 #39912

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Life is good for people with 600K+ NXT
The rich get richer, the poor stay just the same. NXT is just like real life.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4957831430947123625

NXT: 4957831430947123625
salsacz
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March 03, 2014, 08:32:02 PM
 #39913

we still didn't find any locals, he is also flying, but still from the west coast Smiley

Nxt tips: NXT-R67P-6BZ2-XWAK-8RHZR | Nxt forum | Nxt Academy | Donate for Nxt at the Universities // BTCD: RVMLrnxYYy7uy8YZo9FcGfXbk1ZMnNifdg
Labteck
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March 03, 2014, 08:32:32 PM
 #39914





i cant stop watching it

▄████████████████████████████████████████████████████████▄
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 ▀███████████████████████████████████████████████████████▀
       VIORCOIN[by_conty] ▄████████████████████████████████████████████████████████▄
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        Make International Calls
      Cheap and More Secure
msin
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March 03, 2014, 08:32:54 PM
 #39915


Probably tomorrow (21.35 here) will be ok again - I just don't want we to rely on him because this is very important.
Unless the switch will come soon (end of week) so there is no point in making a new testnet.

Currently there are 2 guys working on it, one IT (he provides us with the server) and a programmer - the problem is with the programmer, so we need someone competent to talk directly (email, skype) with my IT guy!


sound like something from someone from the infrastructure team, is there someone willing to help here so we can go on with AE?

^[GS]^   ?
chanc3r      ?
ChuckOne    ?
EvilDave     ?
ferment     ?
marcus03    ?
pandaisftw   ?
Secondleo     ?

marcus03 setup testnet for Nxtcash, perhaps he can help us
swartzfeger
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March 03, 2014, 08:44:45 PM
 #39916

Why should you issue an asset if you have no idea how to use it? Just having an asset is like creating a altcoin without any features.

Didn't say I had no idea how to use it.

I own three plots of land that have no commercial or residential structure built on them. Should they be turned over to the state?

If a NXTer had 'an idea' on how to use an Auroracoin/AUR alias, it would've been registered already, right?

Should the alias fee be raised to 1000 nxt to give the 'idea people' time to get their shit together?

I'm simply bristling at this notion that squatters are nothing more than vultures when the big idea people are leaving valuable names and aliases available and then cry squatting when they're weeks late.
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March 03, 2014, 08:49:17 PM
 #39917


Probably tomorrow (21.35 here) will be ok again - I just don't want we to rely on him because this is very important.
Unless the switch will come soon (end of week) so there is no point in making a new testnet.

Currently there are 2 guys working on it, one IT (he provides us with the server) and a programmer - the problem is with the programmer, so we need someone competent to talk directly (email, skype) with my IT guy!


Been reading the thread, including a search for all 'test net' topics but I can't find a description of what exactly is the problem with test net?
So that may disqualify me from helping or trying to find help because  I don't understand and its already clear.
But if its not been clearly posted can someone post  clear description and then maybe people might be able to see whether they can help?

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March 03, 2014, 08:52:20 PM
 #39918

I am soooooo exited. Just now, I managed to forge a 22 NXT block :O

http://www.mynxt.info/blockexplorer/details.php?action=bk&bk=7649876548675003996

THIS IS SO SICK

Life is good for people with 600K+ NXT
The rich get richer, the poor stay just the same. NXT is just like real life.

http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=4957831430947123625

Hey bry bry. I sent you some on reddit. Cheers mate!

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March 03, 2014, 08:52:32 PM
 #39919


Probably tomorrow (21.35 here) will be ok again - I just don't want we to rely on him because this is very important.
Unless the switch will come soon (end of week) so there is no point in making a new testnet.

Currently there are 2 guys working on it, one IT (he provides us with the server) and a programmer - the problem is with the programmer, so we need someone competent to talk directly (email, skype) with my IT guy!


sound like something from someone from the infrastructure team, is there someone willing to help here so we can go on with AE?

^[GS]^   ?
chanc3r      ?
ChuckOne    ?
EvilDave     ?
ferment     ?
marcus03    ?
pandaisftw   ?
Secondleo     ?

marcus03 setup testnet for Nxtcash, perhaps he can help us
ChuckOne & antanst offered to help!
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March 03, 2014, 08:53:49 PM
 #39920

Why should you issue an asset if you have no idea how to use it? Just having an asset is like creating a altcoin without any features.

Didn't say I had no idea how to use it.

I own three plots of land that have no commercial or residential structure built on them. Should they be turned over to the state?

People know how to build buildings on that land. That's why land is precious.

But: Why should I build my service on top of an asset somebody else brought into existence? I can easily create my own one.

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