[ANN][NHZ] - NeXT Horizon | ***PoS*** | BOUNTIES | escrow@poloniex

[*Sakura*]

       





We are looking for community feedback on this distribution model:





 Without a healthy and stable market, there will be no distribution. The concept of the distribution for ‘NHZ’ has always been ‘long and fair’; unfortunately that idea has been threatened as the reward system has not kept in line with the recent gains in price. We need to take action to ensure that the market remains healthy in the short term, to guarantee ‘NHZ’s longevity.

   Currently, at a reward of 666 per day, a single node returns 19,980 ‘NHZ’ per month. At the current price of 170 satoshi’s, this comes to 0.033966 BTC, or $11.44.  Assuming a node costs $5.00 per month from Digital Ocean, that is a 128% gain. This high profit margin has given rise to people running over 40 nodes and simply dumping, which is creating significant sell pressure and strain on the market. Currently running 3016 nodes is distributing 2,008,656 NHZ per day.

   I recommend that we switch to a fixed distribution method of 1,000,000 NHZ / day. Not only will this create a longer distribution period, it will stabilize the market while keeping the nodes all in profit.

1,000,000 / 3016 = 331.57 NHZ per node
331.57 x 30   = 9946 NHZ per month
9946 NHZ @ 170 satoshis = 0.0169082 BTC or $5.69

@240 satoshis = 0.0238704 BTC or $ $8.03
@305 satoshis = 0.0303353 BTC or $10.21

             As you can see, the profitability rises significantly with even minor fluctuations in price. As the price decreases, the profitably has the inverse effect. This barrier deters people running nodes from dumping at a lower price, and at a loss. Likewise, as the price increases, it encourages them to hold, as if they continuously dump, they lose their profit very quickly.


          Currently 260,000,000 coins have been distributed from the 1,000,000,000. The following figures assume that 1m coins are distributed by the nodes every day for one year.

120,000,000: Development Bounty
365,000,000: Nodes
 12,000,000: Giveaways    (1,000,000 per month)
*Estimate 1000 users @ 100 NHZ per day = 36,500,000 : Website Faucet

Total over 1 year =  533,500,000 NHZ
+ 260,500,000 already distributed
= 794,000,000 NHZ   (79.4% distribution in one year)

Roughly 6.6% of the total supply is distributed per month. Using these numbers, you would be looking at a total distribution period of 15 months from today, October 4’th, 2014.

The formula is simple: 1,000,000 / # of nodes - This keeps the market healthy, and running nodes profitable so there is still incentive for people to run them and continue to grow the network.

100% agree! This gives a nice long term goal that everyone can understand and will help support the price as it grows over time. Now, I am a large holder of NHZ so I am very biased for the price going MUCH higher, so obviously I totally agree with designing NHZ to do exactly that. (I am also an advisor and have discussed this plan they came up with, it is very solid) - NHZ looks like a great buy now!

Very competent and a good distribution model. This will help stabilize the market.

[DiCE1904]

       





We are looking for community feedback on this distribution model:





 Without a healthy and stable market, there will be no distribution. The concept of the distribution for ‘NHZ’ has always been ‘long and fair’; unfortunately that idea has been threatened as the reward system has not kept in line with the recent gains in price. We need to take action to ensure that the market remains healthy in the short term, to guarantee ‘NHZ’s longevity.

   Currently, at a reward of 666 per day, a single node returns 19,980 ‘NHZ’ per month. At the current price of 170 satoshi’s, this comes to 0.033966 BTC, or $11.44.  Assuming a node costs $5.00 per month from Digital Ocean, that is a 128% gain. This high profit margin has given rise to people running over 40 nodes and simply dumping, which is creating significant sell pressure and strain on the market. Currently running 3016 nodes is distributing 2,008,656 NHZ per day.

   I recommend that we switch to a fixed distribution method of 1,000,000 NHZ / day. Not only will this create a longer distribution period, it will stabilize the market while keeping the nodes all in profit.

1,000,000 / 3016 = 331.57 NHZ per node
331.57 x 30   = 9946 NHZ per month
9946 NHZ @ 170 satoshis = 0.0169082 BTC or $5.69

@240 satoshis = 0.0238704 BTC or $ $8.03
@305 satoshis = 0.0303353 BTC or $10.21

             As you can see, the profitability rises significantly with even minor fluctuations in price. As the price decreases, the profitably has the inverse effect. This barrier deters people running nodes from dumping at a lower price, and at a loss. Likewise, as the price increases, it encourages them to hold, as if they continuously dump, they lose their profit very quickly.


          Currently 260,000,000 coins have been distributed from the 1,000,000,000. The following figures assume that 1m coins are distributed by the nodes every day for one year.

120,000,000: Development Bounty
365,000,000: Nodes
 12,000,000: Giveaways    (1,000,000 per month)
*Estimate 1000 users @ 100 NHZ per day = 36,500,000 : Website Faucet

Total over 1 year =  533,500,000 NHZ
+ 260,500,000 already distributed
= 794,000,000 NHZ   (79.4% distribution in one year)

Roughly 6.6% of the total supply is distributed per month. Using these numbers, you would be looking at a total distribution period of 15 months from today, October 4’th, 2014.

The formula is simple: 1,000,000 / # of nodes - This keeps the market healthy, and running nodes profitable so there is still incentive for people to run them and continue to grow the network.

100% agree! This gives a nice long term goal that everyone can understand and will help support the price as it grows over time. Now, I am a large holder of NHZ so I am very biased for the price going MUCH higher, so obviously I totally agree with designing NHZ to do exactly that. (I am also an advisor and have discussed this plan they came up with, it is very solid) - NHZ looks like a great buy now!

I agree aswell, this sounds much healthier for the network

[kseistrup]

Nice idea, go for it.

[jadefalke]

looks good. go for it

[sakira]

it is coin good

i like it

[DeepCoin]

This is the fair one. Congratulations !

[zythos]

Seems like a very smart and fair solution:-).

[MemoryShock]

-thumbsup-

[rb3coins]

NHZ your proposed distributation paper is a very good model and think you should follow that and a very great start Team NHZ. Always thanks to all members,

Ran.

[Pizpie]

Thanks for the (positive) feedback, guys.
In the sense of 'fair' we will keep this discussion on the distribution model open for at least 24h.

I will have an announcement / update on everything we are working on TODAY.
Fort those wondering, I'm in the PST time zone.

[matthewh3]

About the feedback, as well as supporting VPS nodes on static IP's.  Maybe you could add an incentive for users to keep their full nodes/wallets open at home as well on their dynamic IP addresses.  Say 1NHZ for every hour of your wallet/node being open with it exponentially rising every extra hour your node/wallet stays open up to a maximum for full time nodes.  These full time nodes on dynamic IP addresses are helping to support the network too.  And you could argue even more so as they're a lot more decentralised  and distributed than 99% of the static nodes just on Digital Ocean servers.  Also yes I agree with extending the distribution time over a longer period.   IMHO the longer and more spread out the initial distribution the better by far.

[mrs_snow]

About the feedback, as well as supporting VPS nodes on static IP's.  Maybe you could add an incentive for users to keep their full nodes/wallets open at home as well on their dynamic IP addresses.  Say 1NHZ for every hour of your wallet/node being open with it exponentially rising every extra hour your node/wallet stays open up to a maximum for full time nodes.  These full time nodes on dynamic IP addresses are helping to support the network too.  And you could argue even more so as they're a lot more decentralised  and distributed than 99% of the static nodes just on Digital Ocean servers.  Also yes I agree with extending the distribution time over a longer period.   IMHO the longer and more spread out the initial distribution the better by far.

A dynamic IP is no problem, at least, if it do not change often. You will get node bounties also for dynamic IPs, it they online 24 hours at least.
Important: Use your dyndns name as IP address in the hallmark.

[matthewh3]

About the feedback, as well as supporting VPS nodes on static IP's.  Maybe you could add an incentive for users to keep their full nodes/wallets open at home as well on their dynamic IP addresses.  Say 1NHZ for every hour of your wallet/node being open with it exponentially rising every extra hour your node/wallet stays open up to a maximum for full time nodes.  These full time nodes on dynamic IP addresses are helping to support the network too.  And you could argue even more so as they're a lot more decentralised  and distributed than 99% of the static nodes just on Digital Ocean servers.  Also yes I agree with extending the distribution time over a longer period.   IMHO the longer and more spread out the initial distribution the better by far.

A dynamic IP is no problem, at least, if it do not change often. You will get node bounties also for dynamic IPs, it they online 24 hours at least.
Important: Use your dyndns name as IP address in the hallmark.

Thanks for that I've just set up - https://www.noip.com - as its still a free service.  Although not everyone can run a node 24/7/365 continuously, but maybe they could run a node for eight hours a day five days a week if encouraged to do so.

[mrs_snow]

About the feedback, as well as supporting VPS nodes on static IP's.  Maybe you could add an incentive for users to keep their full nodes/wallets open at home as well on their dynamic IP addresses.  Say 1NHZ for every hour of your wallet/node being open with it exponentially rising every extra hour your node/wallet stays open up to a maximum for full time nodes.  These full time nodes on dynamic IP addresses are helping to support the network too.  And you could argue even more so as they're a lot more decentralised  and distributed than 99% of the static nodes just on Digital Ocean servers.  Also yes I agree with extending the distribution time over a longer period.   IMHO the longer and more spread out the initial distribution the better by far.

A dynamic IP is no problem, at least, if it do not change often. You will get node bounties also for dynamic IPs, it they online 24 hours at least.
Important: Use your dyndns name as IP address in the hallmark.

Thanks for that I've just set up - https://www.noip.com - as its still a free service.  Although not everyone can run a node 24/7/365 continuously, but maybe they could run a node for eight hours a day five days a week if encouraged to do so.

No problem, if the node is temporary offline. The onlin time will be accumulated.
However, I do not know, after which (offline) time the IP is deleted from the database again.

[easteagle13]

Thanks for constantly looking out for improvements you can do for this network.

I would like to ask if the MGW service will be available soon?

Also, I think a function within the ASSETS EXCHANGE MARKET to determine who HOLDS a particular asset of an ISSUER should be available. (assets issuer function only)

And a function to filter an asset holders list for a message. (This will make managing and communicating with assets holder better and would attract more assets issuer into the network.)

Thanks for all the good works guys. Keep them up.


-east

[Pizpie]

Official Announcement:


The entire NHZ team is proud to announce that the new website and forums are now LIVE!
In the coming days, we will be making a few other features that are integrated into the website available for the public as well.

I will be posting a development status / direction update TODAY as well.
The NHZ team is working day and night to provide the most user-friendly, secure platform for the crypto community, and professional businesses alike.
Thank you for your continued support, and if you have any comments or feedback, do not hesitate to get in contact with us.

The web address is as follows:
http://nhzcrypto.org/

* All returning users need to run the 'Recover Password' before you will be able to login.

[Pizpie]

Thanks for constantly looking out for improvements you can do for this network.

I would like to ask if the MGW service will be available soon?

Also, I think a function within the ASSETS EXCHANGE MARKET to determine who HOLDS a particular asset of an ISSUER should be available. (assets issuer function only)

And a function to filter an asset holders list for a message. (This will make managing and communicating with assets holder better and would attract more assets issuer into the network.)

Thanks for all the good works guys. Keep them up.


-east

The NHZ.info project will have an added 'Asset Search' and profile system on it. This is intended to allow people using Google for an example, the ability to search for these assets without having to have prior knowledge of NHZ. This will work to attract new people, businesses and investors.

I would like to ask if the MGW service will be available soon?

I can't supply an answer about the 'MGW' at this moment, but will get back to you.

Also, I think a function within the ASSETS EXCHANGE MARKET to determine who HOLDS a particular asset of an ISSUER should be available. (assets issuer function only)

You are proposing a public ledger for the asset issuer to see who (wallet address) purchased the asset, and who is holding them. This is doable, as it acts like a 'rich list' for any particular asset.

[Pizpie]

About the feedback, as well as supporting VPS nodes on static IP's.  Maybe you could add an incentive for users to keep their full nodes/wallets open at home as well on their dynamic IP addresses.  Say 1NHZ for every hour of your wallet/node being open with it exponentially rising every extra hour your node/wallet stays open up to a maximum for full time nodes.  These full time nodes on dynamic IP addresses are helping to support the network too.  And you could argue even more so as they're a lot more decentralised  and distributed than 99% of the static nodes just on Digital Ocean servers.  Also yes I agree with extending the distribution time over a longer period.   IMHO the longer and more spread out the initial distribution the better by far.

A dynamic IP is no problem, at least, if it do not change often. You will get node bounties also for dynamic IPs, it they online 24 hours at least.
Important: Use your dyndns name as IP address in the hallmark.

I run a dynamic IP on my home set up, and as long as I don't reset the router, it doesn't change on me.


Matthew, you are proposing a escalating reward system for nodes supporting the network over time. (Correct me if I'm wrong.)
In regards to that, we have also been talking about a system that works in this way to incentivise people running the nodes to support the network over long periods of time. If you have some ideas on this system, we would like to speak with you, as part of our 'NHZ Think Tank' program.

If interested, feel free to e-mail me: ncote@xc-official.com

We will be expanding the 'NHZ Think Tank' very shortly and will make an official announcement on how it will function, why it's important for the long term growth of NHZ and the community, and how you can join it very soon.

[*Sakura*]

The new forum looks more professional. Thanks to the developers!

[Breasal]

RE new forum password: I am not receiving an email for new password reset. I dont even remember signing up with an email address 5 months ago! If I did, I use hotmail which always causes a problem receiving unknown emails.

@Pizpie: How can I maintain my username (and status) without receiving this email. Can I send an alternate email gmail address? Thanks