Closed Thread

[jabo38]

This is not good. Why I should by this if I can forge it without any coins?

The forging is based on POA (proof of activity) .. The more active your node the more likely you are to generate the next block. It is actually much more fair than traditional POS forging.

read about it in the white paper here > https://docs.google.com/document/d/1zDlGZn7sICIA8bUPhe6jPPzGOxA4YgTgi6J4XilFpgs/edit

Typo

Q: How does the Magic happen?
Basically the FIat Module -> Basically the Fiat Module

and content change

Important! Bitcoins are kept in your account, and you are the sole proprietor of them! Node can’t, by any means,  inflict with your bitcoin account. ->  (interact/interfere) your bitcoin account

Do I get a bounty?  hahaha

[boestin]

Koop or Silk,

When are you planning to lower the transaction fees?
thanks,
boestin

Try to read whitepaper

I actually have tried to read it  But there is not a "hard" date set. 
look:

The fee will be decreased within a 4 trimester plan:
1st trimester: 0.35%
2nd trimester: 0.25%
3rd trimester: 0.15%
4th trimester: 0.1% - fixed, but not less than 0.0001.

[sava0123]

Koop or Silk,

When are you planning to lower the transaction fees?
thanks,
boestin

Try to read whitepaper

I actually have tried to read it   But there is not a "hard" date set.  
look:

The fee will be decreased within a 4 trimester plan:
1st trimester: 0.35%
2nd trimester: 0.25%
3rd trimester: 0.15%
4th trimester: 0.1% - fixed, but not less than 0.0001.

I guees counting starts from the day when Bter added NODE.

[zachamo]

I really like POA.. similar to a concept I worked on for another hypothetical coin.

I think we should setup a separate Forum for NODE to discuss these things..one thread on btt is too constrained with too much clutter.. Need a dedicated place to delve deeper into these conversations without the background noise..

Will post some thoughts on on the algo when I have a chance.

[jabo38]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

[aulonocara]

Yep thats it!

[TaunSew]

When was the last time developers replied?  Maybe they're gone?   

[griffinriz]

When was the last time developers replied?  Maybe they're gone?   

Yesterday Dev posted a new version and koop4u also replied to some questions, What is wrong with you? you expect devs to come here after every hour and post comments?

[Brokers]

Why is the price so low 

[griffinriz]

Why is the price so low 

The people who got free stakes are dumping for some BTC, this is normal for a new coin.

[TaunSew]

Why is the price so low 

The people who got free stakes are dumping for some BTC, this is normal for a new coin.

If that were the case then the price would be going down, no?  There's just no price building which indicates a lack of buyers.

[Mig-23]

i already send the message to cryptsy,.request to add nodecoin
they only answer the team will review to see if it meets requirements for addition to the Cryptsy exchange.

[Hueristic]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

Brokers and TaunSew (TauntStew) are trolls just put them on ignore and be done with them.


AFA the POA forging, I have not read the whitepaper so sorry but from this it sounds like I can just move all coins from one address to another each forge cycle and If I have the most coins I will be the only one forging. Or do I not understand this correct? I am just leaving my coins until Https is available in the original wallet.

[visual111]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

Brokers and TaunSew (TauntStew) are trolls just put them on ignore and be done with them.


AFA the POA forging, I have not read the whitepaper so sorry but from this it sounds like I can just move all coins from one address to another each forge cycle and If I have the most coins I will be the only one forging. Or do I not understand this correct? I am just leaving my coins until Https is available in the original wallet.

from what i understood, there is a certain degree of randomness to the forging algo

[jabo38]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

Brokers and TaunSew (TauntStew) are trolls just put them on ignore and be done with them.


AFA the POA forging, I have not read the whitepaper so sorry but from this it sounds like I can just move all coins from one address to another each forge cycle and If I have the most coins I will be the only one forging. Or do I not understand this correct? I am just leaving my coins until Https is available in the original wallet.

I am wondering the same thing.  If I move all my coins out, then I could be the most likely forager, especially if I am a large coin holder.  Buuuuuut..... I am curious about the fee paid, and it might be possible that the fee would be higher than the probable amount forged.  If it isn't random, maybe I could move coins and then be the next person to forge, but with a little randomness it becomes a gamble. 

[megashira1]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

Brokers and TaunSew (TauntStew) are trolls just put them on ignore and be done with them.


AFA the POA forging, I have not read the whitepaper so sorry but from this it sounds like I can just move all coins from one address to another each forge cycle and If I have the most coins I will be the only one forging. Or do I not understand this correct? I am just leaving my coins until Https is available in the original wallet.

I am wondering the same thing.  If I move all my coins out, then I could be the most likely forager, especially if I am a large coin holder.  Buuuuuut..... I am curious about the fee paid, and it might be possible that the fee would be higher than the probable amount forged.  If it isn't random, maybe I could move coins and then be the next person to forge, but with a little randomness it becomes a gamble.  

If you are a large holder and keep moving your balance around yeah, you'll forge more blocks than most but you'll lose more than you gain. You aren't forging every block so the blocks you dont forge you will lose much more than the ones you do forge.

[Mig-23]

Why is the price so low 

just be patient,.
Node only need more exchange right now

[myself111]

I am just leaving my coins until Https is available in the original wallet.

You don´t need the webwallet. Just type your password in the windows wallet and you have access to your coins.

[jabo38]

I read about PoA and I am really happy to see a new innovation.  Basically, the way I understand it is that the longer a person leaves their wallet (node) running the higher their priority.  If a person in addition to this sends out coins, they get a bonus for each coin they send out and that bonus basically adds one second of time to their node.  The node with the highest "time" on the network gets to forge. (in this case "time" equals real time + one bonus second for each coin spent).  Is this a correct understanding of PoA?

Brokers and TaunSew (TauntStew) are trolls just put them on ignore and be done with them.


AFA the POA forging, I have not read the whitepaper so sorry but from this it sounds like I can just move all coins from one address to another each forge cycle and If I have the most coins I will be the only one forging. Or do I not understand this correct? I am just leaving my coins until Https is available in the original wallet.

I am wondering the same thing.  If I move all my coins out, then I could be the most likely forager, especially if I am a large coin holder.  Buuuuuut..... I am curious about the fee paid, and it might be possible that the fee would be higher than the probable amount forged.  If it isn't random, maybe I could move coins and then be the next person to forge, but with a little randomness it becomes a gamble.  

If you are a large holder and keep moving your balance around yeah, you'll forge more blocks than most but you'll lose more than you gain. You aren't forging every block so the blocks you dont forge you will lose much more than the ones you do forge.

I just checked.  Trying to move a large amount, like 100,000 has a fee of 350.  Since most blocks are 0, once those coins were moved and chances to forge are increased, it is likely that soon thereafter the person that moved the 100,000 and paid 350 will just forge a block of 0.  

It seems like there isn't a way to game the system by moving funds, at least at this stage.  It seems like the chances to forge is really just dependent by whoever has left the client going the longest.   If somebody does happen to move coins, then yes, they get a good chance to forge.  It only makes sense as they are the ones paying fees, so it is nice they have a change to get some back.  All and all, it seems like a nice system and better than PoW.  It seems like the Node client is very light and easy to run in the background.  I also like how people are rewarded for maintaining the network and processing transactions (any transactions even small ones) instead of just doing busy work like in PoW.

PoW was a good way to bootstrap a coin in that it got people interested in a coin and helping to maintain it, but this method is better.  A nod to the devs

Edit: I just looked and it seems like quite a few blocks have really high fees as some people are moving around large amounts of NODE.  And at other times it is less than 1 NODE. 

[Hueristic]

Thx for the info guys.