NXT :: descendant of Bitcoin - Updated Information

[smartwart]

good morning!

see there is still ongoing discussion about VS. - more and more with the necessary complexity.

lets implement VS for Assets and go on discussion about global (public) voting.
At least there is no pressure to come with that feature as fast as possible.

[chanc3r]

I imagine its trivial to write a script to deposit 1 NXT in many accounts and turn 50k NXT * 1 account 1 vote into 1 NXT * 50k account 1 vote.

Everyone loves that this space is anonymous etc and then talks about 1 person 1 vote - hilarious - THIS MEANS YOU NEED TO BE IDENTIFIED

One Account one Vote doesn't help because of the example above.

We need a simple system how about this;

When the Vote is set up the majority level for the vote is set whether its 51%, 75%, 90% etc
You can even vote to set these levels  by simple majority initially, and later votes to change them

The important bit:

1. You Vote - you pay a fee which weights the vote (like the alias), not your NXT balance.
2. The network sums the weighted votes and the majority level is met or not met.
3. The Fee - the network takes the block fee for the vote which is all the fee's contributed and distributes it EQUALLY to ALL of the members who voted (one member should not get this bounty)

So if you really want to win a vote by paying for it (that doesn't happen in the real world does it ) it can be done but it gets expensive.
And people potentially get rewarded for taking part in making the decisions to evolve NXT.

Maybe a bit of a crazy idea but was trying to think how to deal with a level of balance in an anonymous environment and NXT has to feature in weighting it somehow.

[coolfish]

But I worry about the votes being kidnapped by largest shareholder..

Nobody can put in more votes than they own NXTs.

I hope. If there are no bugs in software allowing that

This is up to CfB to clarify.

I think in addition to the system of voting system, it should create a poll in the forum at the same time.
Evaluation of the final results


Edit:If only a single voting system, the voting results will be controled by a few people.
For example, now, 75% NXT lies in the initial hoarder.

[laowai80]

I think in addition to the system of voting system, it should create a poll in the forum at the same time.
Evaluation of the final results

No, why should the forum poll be created?
What stops you or me from creating thousands of accounts on the forum and falsifying results?

[landomata]

We need the Voting System for a fully functional and efficient NXT Asset Exchange.

The community should NOT express its opposition to the Voting System being used for other NXT issues as an opposition to the Voting System in general.

+ 1

[visaco]

guys seriously.... stop sending money to his wife ...

[coolfish]

I think in addition to the system of voting system, it should create a poll in the forum at the same time.
Evaluation of the final results

No, why should the forum poll be created?
What stops you or me from creating thousands of accounts on the forum and falsifying results?

If only a single voting system, the voting results will be controled by a few people.
For example, now, 75% NXT lies in the initial hoarder.

[laowai80]

If only a single voting system, the voting results will be controled by a few people.
For example, now, 75% NXT lies in the initial hoarder.

Stop spreading FUD please and read what I posted above about distribution.

[wesleyh]

Will we ever get true distributed DNS instead of just alias system? (like namecoin)

[Come-from-Beyond]

Stop spreading FUD please and read what I posted above about distribution.

This is a new guy. Don't u expect him to read all the 600 pages?

[marcus03]

How?.... no one Nxt account currently owns more than 5% of Nxt.....

Some real world data just extracted from the blockchain:

Account number   Balance in cents   Share of total NXT volume
14335468932354600000   4987782600   5,0%
4747512364439220000   5000322700   5,0%
2159498187382010000   5118870800   5,1%
12292439833850500000   7500935500   7,5%


Further info:

The top 10 accounts own 41% of all NXT.
The top 20 accounts own 55% of all NXT.
The top 30 accounts own 66% of all NXT.
The top 40 accounts own 74% of all NXT.
The top 50 accounts own 79% of all NXT.

[laowai80]

Stop spreading FUD please and read what I posted above about distribution.

This is a new guy. Don't u expect him to read all the 600 pages?

Well, he should read a lot of it, if he has a genuine interest, and not a troll. These issues were covered a lot of times, so if he'd done some reading, he could've come across the answers. But you're right, patience is a virtue, I'll try to exercise it more

[Pablito89]

How?.... no one Nxt account currently owns more than 5% of Nxt.....

Some real world data just extracted from the blockchain:

Account number   Balance in cents   Share of total NXT volume
14335468932354600000   4987782600   5,0%
4747512364439220000   5000322700   5,0%
2159498187382010000   5118870800   5,1%
12292439833850500000   7500935500   7,5%


Further info:

The top 10 accounts own 41% of all NXT.
The top 20 accounts own 55% of all NXT.
The top 30 accounts own 66% of all NXT.
The top 40 accounts own 74% of all NXT.
The top 50 accounts own 79% of all NXT.

nxt distribution is only at the beginning

[coolfish]

Well,  Do not argue. Theory is right. Just Practical application test, in order to know the results.

If can not achieve the purpose of voting, in considering modifying code.

[wesleyh]

How?.... no one Nxt account currently owns more than 5% of Nxt.....

Some real world data just extracted from the blockchain:

Account number   Balance in cents   Share of total NXT volume
14335468932354600000   4987782600   5,0%
4747512364439220000   5000322700   5,0%
2159498187382010000   5118870800   5,1%
12292439833850500000   7500935500   7,5%


Further info:

The top 10 accounts own 41% of all NXT.
The top 20 accounts own 55% of all NXT.
The top 30 accounts own 66% of all NXT.
The top 40 accounts own 74% of all NXT.
The top 50 accounts own 79% of all NXT.

Have you excluded the dgex account from these statistics? (You should)

[Pablito89]

Well, guys. Something should be fixed in Nxt protocol to attract more girls. I would pay 1K for a good idea.

Girls like shopping, we better open more online shops, possibly, attract offline ones!



13792774143018875909

Right! 1K sent to 13792774143018875909.

you should add an Help button for girls

[smartwart]

A voting system with a few stake holder that possess more than 50% of the nxt coins would turn nxt into an oligarchy.

Are they organized into cartel yet?

Really, you guys are putting a cart before the horse.

What I mean is, distribution is going on right now.

By the end of 2014 NXT will be more distributed than bitcoin.

What else do you want?

Keep buying from these big stake holders, they're selling and will own less and less NXTs with time. They won't hold on to all of them for life. They want to cash out and buy themselves nice goodies.

NXT is only 1 month old, you can't expect it evenly distributed after just 1 month.

valid point!

well distributed NxT would be an argument to decrease the majority target, (e.g. 75% ==> 66%)
cause you need more individual accounts for an majority.

[coolfish]

lol;

Considering sending me some NXT, prevent the NXT distribution ratio of the pyramid...

[laowai80]

lol;

Considering sending me some NXT, prevent the NXT distribution ratio of the pyramid...

Consider doing something for the community first, begging is discouraged

[intel]

Well, guys. Something should be fixed in Nxt protocol to attract more girls. I would pay 1K for a good idea.

Girls like shopping, we better open more online shops, possibly, attract offline ones!



13792774143018875909

Right! 1K sent to 13792774143018875909.

Would you pay if i 'll say that i've referred one REAL hosting provider and they ALREADY accept NXT payments in automated (instant) mode? LoL