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Author Topic: NXT/NEM or Monero/Bytecoin?  (Read 4885 times)
Damelon
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July 19, 2014, 02:10:57 PM
 #121

I will help you, here is quote from JL777Hodl.

"This means the active liquid NXT is probably around 250 million total, which is still plenty especially with the normal trading volumes of 1 million NXT per day."

And? The active liquid Bitcoin is probably 1 million or less, the rest is hodl'ed and never leaves wallets, what does it have to do with anything?

It has a lot to do with anything. First and more important stakes dont matter in POW currencies while in POS they are the only ones that matter. So if a couple of people control 75% of network its EXTREMELY important.

You do know that

a) James is nót a founding member of Nxt as you state. He came to Nxt after the IPO in december.
b) Salsa is not the end all of all information on Nxt
c) The numbers you quote there are 'guesstimates'. Here's the link to the article, by the way: http://nxtcoin.blogspot.nl/2014/06/how-nxt-changed-our-lives-james.html

I have no problem with you disliking Nxt or its distribution (why should I), but methodologically it's suspect when you promote the sources of your links to greater status than they have to boost their believability.
That's just not done.

Also, yes, stake ís important, but so is distribution.
Have a look at the charts:

http://charts.nxtcrypto.org/cDistribution.aspx
http://charts.nxtcrypto.org/cDistributionTopAccount.aspx

The Top 100 hold 730 million of all Nxt. You can hardly call a hundred people a "couple of people".
None of these has the power to attack the network. They just don't hold that much stake. Neither is it in their best interest to do so.

Of course, there is the preference that you may have for a network with a "better" distribution, but frankly, over the past months, those kinds of discussions have yielded little real solutions, and tend to default to "fairness" instead of "viability" and "security", which is a pity.

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devphp
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July 19, 2014, 02:13:50 PM
 #122

Where does it say that 75% of the NXT is held by one or two people?

That sounds like he just means that 75% of the NXT is locked away in cold storage or something not on the network. Which isn't too surprising really. Doesn't sound like he's saying it's controlled by one or two people.

Yeah, atoni likes to twist words to suit his agenda.
Este Nuno
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July 19, 2014, 02:24:22 PM
 #123

One thing that I've noticed over the last month and a bit since I posted this thread is the sheer ignorance of people on this message board when it comes to the topic of NXT. Everyone seems to have these preconceived notions of what NXT is and no one seems to have actually taken the time to research or ask about the truth.
Damelon
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July 19, 2014, 02:28:58 PM
 #124

That is not exclusive to Nxt.
In general it's fár easier to get through life repeating what fits with your beliefs.
We all do it, and it's a human trait. Smiley

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devphp
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July 19, 2014, 02:34:03 PM
 #125

One thing that I've noticed over the last month and a bit since I posted this thread is the sheer ignorance of people on this message board when it comes to the topic of NXT. Everyone seems to have these preconceived notions of what NXT is and no one seems to have actually taken the time to research or ask about the truth.

Well, in atoni's case it's not ignorance, it's FUD, because there are facts that 300+ accounts generate blocks, but he stubbornly posts it's two people controlling the network.

Here is the java code that can be used to calculate active (who have forged blocks) forgers in the NXT blockchain:

Code:
import java.sql.Connection;
import java.sql.DriverManager;
import java.sql.ResultSet;
import java.sql.SQLException;
import java.sql.Statement;
import java.util.ArrayList;
import java.util.HashMap;
import java.util.Iterator;

public class inspectDB {

        public static void runQuery(int startHeight, int endHeight) {

                Connection conn = null;

                String dbUrl = "jdbc:h2:nxt_db/nxt;DB_CLOSE_ON_EXIT=FALSE";
                dbUrl += ";DB_CLOSE_ON_EXIT=FALSE";

                try {

                        Class.forName("org.h2.Driver");

                        conn = DriverManager.getConnection(dbUrl, "sa", "sa");

                        Statement stmt = conn.createStatement();
                        // generator_public_key
                        ArrayList<String> pubgenkeys = new ArrayList<String>();
                        String stmtStr = "SELECT generator_public_key, height, timestamp, total_amount FROM block where total_amount >= 0 and height > "
                                        + startHeight + " and height < " + endHeight;
                        ResultSet selectRS = stmt.executeQuery(stmtStr);// total_amount
                        while (selectRS.next()) {
                                String a = selectRS.getString(1);
                                pubgenkeys.add(a);

                        }

                        Iterator<String> it = pubgenkeys.iterator();
                        HashMap<String, Integer> occ = new HashMap<String, Integer>();
                        while (it.hasNext()) {
                                String cur = it.next();
                                // System.out.println(cur);
                                if (occ.containsKey(cur)) {
                                        int last = occ.get(cur).intValue();
                                        occ.remove(cur);
                                        occ.put(cur, new Integer(last + 1));
                                } else
                                        occ.put(cur, 1);
                        }

                        int numBlocks = endHeight - startHeight;
                        int numAddr = occ.values().size();

                        System.out.println("startBlock  " + startHeight
                                        + " generated by # addresses : " + numAddr
                                        + " (numBlocks: " + numBlocks + ")");

                        conn.close();

                } catch (SQLException e) {
                        e.printStackTrace();
                } catch (ClassNotFoundException e) {

                        e.printStackTrace();
                } finally {
                        if (conn != null)
                                try {
                                        conn.close();
                                } catch (SQLException e) {
                                        e.printStackTrace();
                                }
                }

        }

        public static void main(String[] args) {
                int maxh = 200000;
                int step = 10000;
                for (int bh = 0; bh < maxh; bh += step) {
                        runQuery(bh, bh + step);
                }

        }
}

He will likely come up with some excuse again, just like he came up with an excuse not to set up a NXT node to check the real number of nodes in the network.
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