| Nxt | Blockchain Platform | Proof of Stake | Official

[Daedelus]

Here we go again.

How would your fairer forging system work?

What about cutting upper limit of forging power at couple of thousand NXT?

Then the large stakeholder splits his account and still forges most of the fees.

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

*snip*

This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms   Some thought this was good, some thought it was damaging.


(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this  ).

[Voluntold]

I want to use this quote to address an issue about forging power to the NXT community:

Besides the discussion of the 73 stakeholders, I come to the conclution that the accounts forging power being proportional to the ammount of NXT one possesses is fair in general (what concerns the forging system per se). BUT there is one big disadvantage that can also be seen in parallel to the fiat money system:

Large fiat holders get interest and compounded interest therefore always get richer whereas "average Joe" pays the interest for big "fiat-stakeholders". This inequality leads to the growing gap between rich and poor hard-working. The system works for large fiat-holders, in other words, the hard-working people indirectly work for large holders by paying loan-tax, VAT, credits,...

Now NXT forging system rewards those who posess the highest stakes. For people who have small ammounts, theres kind of an emotional threshold (if those kind of people let their client forge), to use NXT in general. I can imagine people quickly get frustrated seeing they dont get rewarded by the system when letting their nodes run.

Dont we see this all day? Arent we upset that people "up there" always get their pockets lined? Should a system for common people (as you are preaching nxt should be accepted by EVERYONE) ensure inequality? I SAY NO!

What about fair distribution of forged NXT? What about cutting upper limit of forging power at couple of thousand NXT? Has this topic been discussed before?

Yeah, seems you are confused about what makes fiat money "unfair".  Interest is not what makes fiat bad.  Inflation is what makes fiat bad.  Well, to be more specific, government coercion is what makes fiat bad, but the favored mechanism of coercion is inflation.  And I'm sorry but 'unfair' is just a made up word so to speak, for most people to use any time they feel at a disadvantage.  The topic has been discussed many times, and the verdict is out: distribution is fine.  It gets better all the time, and it will OF COARSE get better once the price goes up.

[evanxxx]

you could also forge with 0NXT in the account.

Then those with enough hosts can game the system with 0 nxt.

[Daedelus]

Latest news from the dvelopment thread

I am done with the implementation of the Digital Goods Store API, and have switched to BouncyCastle for the AES encryption. Now it is assigned to Wesley to start working on the UI.

Another milestone reached in the new feature development  

JL has completed the back end of the Digital Good Store, now Welsey works his magic on creating a nice interface for us to use  

[JKBtCn]

Here we go again.

How would your fairer forging system work?

What about cutting upper limit of forging power at couple of thousand NXT?

Then the large stakeholder splits his account and still forges most of the fees.

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

*snip*

This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms   Some thought this was good, some thought it was damaging.


(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this  ).

"Getting rewarded by letting a node run in general" is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200150+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appear to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase.

[lucky88888]

Latest news from the dvelopment thread

I am done with the implementation of the Digital Goods Store API, and have switched to BouncyCastle for the AES encryption. Now it is assigned to Wesley to start working on the UI.

Another milestone reached in the new feature development  

JL has completed the back end of the Digital Good Store, now Welsey works his magic on creating a nice interface for us to use  

wow great news!

ps. the quote is not working properly its going another place.

[Starfleet.Intelligence]

Here we go again.

How would your fairer forging system work?

What about cutting upper limit of forging power at couple of thousand NXT?

Then the large stakeholder splits his account and still forges most of the fees.

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

*snip*

This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms   Some thought this was good, some thought it was damaging.


(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this  ).

"Getting rewarded by letting a node run in general" is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appears to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase.

That is why I propose to get the reward for letting a node run AND proportional to ammount of NXT (option to cut at upper limit).
This would motivate a lot more people to let a node run and also big holders would get their benefits...

[Daedelus]

Here we go again.

How would your fairer forging system work?

What about cutting upper limit of forging power at couple of thousand NXT?

Then the large stakeholder splits his account and still forges most of the fees.

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

*snip*

This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms   Some thought this was good, some thought it was damaging.


(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this  ).

"Getting rewarded by letting a node run in general" is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appears to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase.

That is why I propose to get the reward for letting a node run AND proportional to ammount of NXT (option to cut at upper limit).
This would motivate a lot more people to let a node run and also big holders would get their benefits...

With the launch of AE, I think a return of Nodecoin is planned. It will have other benefits too in a Nxt Health Monitor that allows us to tell in a decentralised way if Nxt is forking . Full explanation can be found here >>>> https://nxtforum.org/multigateway-jl777/nodecoin/

[Daedelus]

Latest news from the dvelopment thread

I am done with the implementation of the Digital Goods Store API, and have switched to BouncyCastle for the AES encryption. Now it is assigned to Wesley to start working on the UI.

Another milestone reached in the new feature development  

JL has completed the back end of the Digital Good Store, now Welsey works his magic on creating a nice interface for us to use  

wow great news!

ps. the quote is not working properly its going another place.

I didn't realise they worked like that  It is a topic on nxtforum, not here, so no wonder it is squiffy 

The source is >>>> https://nxtforum.org/news-and-announcements/development-roadmap-update/

[Daedelus]

Here we go again.

How would your fairer forging system work?

What about cutting upper limit of forging power at couple of thousand NXT?

Then the large stakeholder splits his account and still forges most of the fees.

Get rewarded by letting a node run in general. Not according to how much nxt someone possesses. Maybe also cut forging power at an upper limit.

*snip*

This is what a lot of people wanted and that led to Jl777 creating Nodecoin. That opened another can of worms   Some thought this was good, some thought it was damaging.


(I am watching from the sidelines as I have been through this discussion a couple of times but I think it is important to go through this as many times as needed, otherwise people's gut reaction is to think the whole system is skewed to 'the rich'. Rather than it being pretty much a necessity, as Proof of Stake is how the blockchain is secured. The value in Nxt is what it can do and what is promised in the future, not how much someone can get out of it before they move to the next coin. And I am not accusing anyone of this  ).

"Getting rewarded by letting a node run in general" is what led to the implementation of Nxt Horizon (NHZ) (NXT fork) which rewards nodes each day 666 NHZ through its automated server bounty system (SBS). Over the past month, nodes have increased to 200+, creating a stable network through incentive....We'll see where it goes. I am not a NHZ dev but have been watching closely...they are selling coins currently to help development. The open account system and public ledger appears to be transparent and legit. The SBS should sustain the security of the network for 3+ years as nodes continue to increase.

That is why I propose to get the reward for letting a node run AND proportional to ammount of NXT (option to cut at upper limit).
This would motivate a lot more people to let a node run and also big holders would get their benefits...

Would the additional reward be NXT? ...

[CoinBuzz]

Do you know you can get FREE NXT every 20min from here.

Its TOTALLY FREE!

[RawDog]

Do you know you can get FREE NXT every 20min from here.

Its TOTALLY FREE!

There is another word for 'free'.  It is 'worthless'.  Faucets are just dumb.

[Starfleet.Intelligence]

How can I get detailed account-balance statistics?

NXT blockchain explorer only lists 60 places...

[Ezravdb]

nice to see developments are going well.

Just topped of my stash to 100K NXT!

[Daedelus]

Paid C programmer required, help us get our features here sooner!  

See here >>>> https://nxtforum.org/news-and-announcements/looking-for-c-programmers-to-help-me-with-my-projects-i-can-pay-nxt-1057/msg13609/#new

[EvilDave]

How do I blacklist the peers in the new client (Wesley's)?

You have to edit the file nxt-default.properties

# Known bad peers to be blacklisted
nxt.knownBlacklistedPeers=

Here you have to fill in the IP's of the nodes that you want to blacklist.

I never blacklisted a node so I hope this is the right way to do it  

Quick point:
Its better not to edit nxt-default.properties. Create a new file called nxt.properties and then copy the lines that you wish to change over from nxt-default.properties.
On initialisation the values from nxt.properties will overwrite the same values from nxt-default.
This also means that when you upgrade, the nxt.properties file will not be overwritten by a new version, while nxt-default.properties will.

Heres my nxt.properties file:

*************************************
nxt.myAddress=EvilWorld

nxt.myPlatform=EvilPC

nxt.myHallmark=

nxt.allowedBotHosts=0.0.0.0

nxt.apiServerHost=0.0.0.0

nxt.apiResourceBase=C:/nxt/html/tools

nxt.javadocResourceBase=C:/nxt/html/doc

nxt.enableUIServer=true

nxt.allowedUserHosts=*

nxt.uiServerHost=0.0.0.0

nxt.uiResourceBase=C:/nxt/html/nrs
***************************************

This is mentioned in the release notes somewhere.....

[coolfish]

Paid C programmer required, help us get our features here sooner!  

See here >>>> https://nxtforum.org/news-and-announcements/looking-for-c-programmers-to-help-me-with-my-projects-i-can-pay-nxt-1057/msg13609/#new

+1

Paid C programmer required, help us get our features here sooner!  

[Eadeqa]

How do I blacklist the peers in the new client (Wesley's)?

You don't have to do anything. If you are on current version, you are not on a fork.

[achimsmile]

How do I blacklist the peers in the new client (Wesley's)?

You don't have to do anything. If you are on current version, you are not on a fork.

Thanks for the hint!

[ChuckOne]

Im not a NXT pro, but AFAIS you would have to run a node for each account to forge? So you would have to set up several computers I suppose...

Nope. A node can forge for many accounts.