NXT :: descendant of Bitcoin - Updated Information

[igmaca]

The Nodecoin is one of the things that can give NXT a boost! And attract new money to Nxt!  

But the money selfish miners will come to take,has to come from somewhere.And that somewhere,is  NXT users.
So in the long term,all that is given for mining,is taken from other users,making it more expensive to use Nxt.
People want money here and now,even if they have to pay 2$ long term,to have 1$ here and now.But we dont have to fall with that.

Selfish miners will just take money out of the network= less market cap

node coin short-term solution
node coin is similar to peer explorer

But in parallel we must to solve this

the essence of nxt is

We want Nxt green? yes
We want Nxt safe? yes
We want Nxt decentralized? yes (Currently no)


It's what makes Nxt different from others

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[farl4web]

What are your thoughts? The big guys earn of the fees of the small guys now, so it's more fair if they pay more for transactions?

I do not see why changing fees the way you described it would change that.

To make that more clear: it has nothing to do with each other at all.

Earning fees is something completely different than spending them.

That's true! I only think about ways to give Nxt a better image, so it will attract more people. Most my transaction-fees (of very small transactions 1-10 NXT) goes to the big guys, wouldn't it be more fair, just for good feeling of Nxt to make it more evenly distributed (fair). Just an idea, nothing more. 

[ChuckOne]

We want Nxt green? yes
We want Nxt safe? yes
We want Nxt decentralized? yes (Currently no)

Huh? Not decentralized? Since when?

[Fatih87SK]

If we are going to discuss unclear features of NodeCoin, wouldn't it be better to wait for James to tell us what he thinks?
Otherwise we will get ourselves into a mighty fit over what may not be true in any case

Or start a nodecoin thread,which im sure will bring a lot of interest.And this is messing the functionality of this thread.

Good idea. Someone could make an [ANN] Nodecoin.

[farl4web]

If you run a NXT node, you are supposed to receive NXTcoins and it is called forging.

You don't understand it. Running a node is not the same as forging. This mistake is maybe the cause of all the miscommunication here?

Forging:
People unlock their account on a simple computer and are chosen to generate a block. You will receive the fees of that block in your account.
Forging is free, just turn your computer on.

Running node:
Nodes are servers which will help stabilize and secure the network. You don't earn fees of blocks.
Running a node is running a dedicated server and can cost money.

Is this really true?  If you are running NRS 0.8.9 on a node, you are ineligible to be selected to forge a block and receive the standard NXT fee award for forging that block?  If so, this is news to me.  How does NRS 0.8.9 know you are running a node and not an open client and so exclude you from generating a block?  How is DGex managing to forge so many NXT with all the NXT they are holding from clients?  You're telling me Graviton has 50 million of other people's NXT running on his laptop computer with an open client and not a rackmount server node?

Somebody tell me one more time what the difference is between an open client and a node, and what hallmarking is and what good it does.  I thought a node was the same as an open client on a laptop, it could just handle more bandwidth.

Here's more info: https://forums.nxtcrypto.org/viewforum.php?f=39&sid=d8c4d22ee0a4a63b20349fd0b71c96a5

[redsn0w]

Good morning people 

[apenzl]

[ANN] Nodecoin

someone making that thread must be James and noone else, IMHO! It's not ready yet!

If we are going to discuss unclear features of NodeCoin, wouldn't it be better to wait for James to tell us what he thinks?
Otherwise we will get ourselves into a mighty fit over what may not be true in any case

Let's wait.

I'm so happy we have a competent Inf-Com, right now…  

[EDIT] and this : https://bitcointalk.org/index.php?topic=506757.msg5687079#msg5687079

[Touque]

If you run a NXT node, you are supposed to receive NXTcoins and it is called forging.

You don't understand it. Running a node is not the same as forging. This mistake is maybe the cause of all the miscommunication here?

Forging:
People unlock their account on a simple computer and are chosen to generate a block. You will receive the fees of that block in your account.
Forging is free, just turn your computer on. AND UNLOCK ACCOUNT

Running node:
Nodes are servers which will help stabilize and secure the network. You don't earn fees of blocks.
Running a node is running a dedicated server and can cost money.

No matter you run a node or server you still need to run NRS, right? If you just want to compensate people for maintaining/running a server you can do it with Nxt or BTC, right? Why nodescoins? Nodecoins have no original value. You create a nodecoin for free and you set up a price for it (0.01nxt=1nodecoin). It devalues Nxt. Will you pay for it from your own pocket?

Some people kept to say that nodecoins are just asset. Go ahead to create a such asset in the AE yourself. No one stop you to do so. If I create a asset on AE like that, will people buy from me? No. first, one one trust me. second it has no value.


  

[igmaca]

We want Nxt green? yes
We want Nxt safe? yes
We want Nxt decentralized? yes (Currently no)

Huh? Not decentralized? Since when?

Such as the fee currently are distributed this is true? not

currently we need VPS node to secure  network
small accounts does not incentivized to active a node


Currently Nxt is green? yes
Currently Nxt is safe? yes using VPS (trust points, centralized)
Currently Nxt is decentralized? No. Raspberri pi nodes have no interest in having its node active. There are few transactions and value of the fee is ridiculous because Nxt coin price is low

[Mises_77]

If we are going to discuss unclear features of NodeCoin, wouldn't it be better to wait for James to tell us what he thinks?
Otherwise we will get ourselves into a mighty fit over what may not be true in any case

Or start a nodecoin thread,which im sure will bring a lot of interest.And this is messing the functionality of this thread.

Good idea. Someone could make an [ANN] Nodecoin.

But Wait! That might cause a big influx of new users that we did not have before! Oh, the horror!
  

[apenzl]

If we are going to discuss unclear features of NodeCoin, wouldn't it be better to wait for James to tell us what he thinks?
Otherwise we will get ourselves into a mighty fit over what may not be true in any case

Or start a nodecoin thread,which im sure will bring a lot of interest.And this is messing the functionality of this thread.

Good idea. Someone could make an [ANN] Nodecoin.

But Wait! That might cause a big influx of new users that we did not have before! Oh, the horror!
  

James is under enough pressure just answering to his own right now. He has asked for someone to do a whitepaper. Anyone?

[bitcoinpaul]

I hate nodecoin already because of all this discussion. Could we now talk about Nxt and NXT again? And don't say "nodecoin is Nxt, you don't get it" to me.
Btw NXTcash and other stuff please without nodecoin. Thanks.

[Come-from-Beyond]

This endless discussion about nodecoin became quite boring, I'm going to derail it a little...

[farl4web]

The Nodecoin is one of the things that can give NXT a boost! And attract new money to Nxt!  

But the money selfish miners will come to take,has to come from somewhere.And that somewhere,is  NXT users.
So in the long term,all that is given for mining,is taken from other users,making it more expensive to use Nxt.
People want money here and now,even if they have to pay 2$ long term,to have 1$ here and now.But we dont have to fall with that.

Selfish miners will just take money out of the network= less market cap

I don't think it's all that bad to attract more 'miners'. They secure the network, attract a lot of attention to Nxt, so everybody benefits. Maybe a few miners stay for the stake! Better than no attention at all IMO. 

[Damelon]

MARKETING TEAM!!!

Can we have a ANN Thread today?

"[ANN]: NXT ASSET EXCHANGE on testNET LIVE! EASY Client included! Ask for testNXT!"

I think nobody knows that our Asset Exchange is working in TestNet?!? Announce it! Mastercoin Exchange will die, I'm sure...

I'd be happy to make a thread for AE.

What needs to be clear for everyone?

I think just this, isn't it?

Wesley's client: http://nxtra.org/nxt-client/

Where can they ask for TestNxt? In the [ANN] thread? Who will give those out?

Please let me know and I'll make one. Won't have time to monitor it today, though, so some people should step in, too

[landomata]

@landomata

any update on paying for NMAC shares? just take my monay.. gawd! lol

Pm's will be sent out over the next two day to all concerned persons.

[salsacz]

if there was no mention about Nxt in the name of the AE topic, THEN it might be more viral..

[lyynx]

Woah, what an interesting 24 hours. Every time I think I understand, I get a bit more confused.

First, James, great work. Regardless of where this all goes, your ability to innovate at the speed you do is undeniable. You are a great asset to the Nxt community.

I am not for or against Nodecoin at this point so I will simply hold my opinion until I am better educated.

However, now for the bigger questions, and this is not just in relation to Nodecoin but to all other coins planned in the future on top of Nxt. If we react to Nodecoin in this manner, I fear what the next weeks will be regarding additional assets and and/or coins. I hope we are able to come to a consensus as soon as possible and allow innovation to flourish.

So, if I am mistaken in my understanding, please correct me.

The purpose of Nodecoin is to encourage network participation?

Nodecoin is rewarded to those that run a node and is redeemable for Nxt?
My question regarding this is, "Where do they redeem them?". Is the scenario something like this.
I am a new comer to Nxt, I have 0 Nxt and no funds to purchase. So, I decide I want to run Nodeminer in hopes of redeeming Nodecoins for Nxt. I run Nodeminer for a specified amount of time and at any time I have accumulated a certain amount I can then redeem for Nxt (and/or use in other services).

My question is, where do the Nxt to redeem actually come from?

Additionally, is Nodecoin redeemable for any other currency? Or is Nxt the only reward? Obviouslly, in a round about way, other coins could be converted to Nxt and then used for the reward.

Is it intended that users that already have Nxt, pre-buy Nodecoins shares to support the Network. Therefore in a sense, outsourcing part of our network participation?

[salsacz]

btw no reactions on using Nxtcoin name?

https://bitcointalk.org/index.php?topic=345619.msg5687199;topicseen#msg5687199

[landomata]

if there was no mention about Nxt in the name of the AE topic, THEN it might be more viral..

Lets try it...its only a testnet launch anyhow....and they will come to know once they reach the client anyways.