NXT :: descendant of Bitcoin - Updated Information

[ZeroTheGreat]

Can you please ask BCNext his opinion on implementing a social credit system?  Such a system would allow Nxt to be used as a platform for LETSystems.

Explain the system here.

A social credit system allows users to establish credit lines between each other for a certain asset.  Debt can be transfered down a chain of credit lines.

For example, Alice trusts Bob for $10 and Bob trust Charlie for $10.  Neither Charlie or Bob have $10, but Alice does have $10.  Even though Charlie doesn't have $10, he does have a credit line Bob gave him for $10.  Charlie spends $10 and now has a -$10 balance with Bob.  Bob didn't have the $10 to give to Charlie, but Bob did have a credit line for $10 that Alice granted him.  Bob's balance still $0, because he owes Alice $10 but Charlie owes him $10.  Alice now has  a $0 balance, because Bob took her $10.

LETSystems are interest free local credit systems.  Each local credit network has a central bookkeeper who establishes new credit lines and keeps track of users' balances.  When a new member joins, they establish a credit line to the bookkeeper and the bookkeeper grants them a credit line.  The credit line the bookkeeper establishes with them is the amount of credit they have with the community.  This is the amount the new member is allowed to owe the other members of the network.  The credit line the new member grants the bookkeeper is the amount the community is allowed to owe him.  Members of the network trade goods or services for credits.  The net credit on the network is always zero.

For example, Bob, Charlie and Alice are members of the local LETSystem.  Bob needs to go on a job interview, but he can't because he has to watch his children.  Bob is broke, but he needs a babysitter.  Bob knows Alice babysits and is part of his LETSystem.  Alice babysits for Bob and he pays her $10 credit.  Alice now has a +$10 community credit and Bob now has a -$10 community credit.  Charlie's car is broken and he doesn't have any money to repair it.  Bob repairs Charlie's car for $40.  Bob now has a community credit of +$30 and Charlie now owes the community $40.  Bob gets paid even though Charlie didn't have the money.

These credit systems allow communities with unused labor to revitalize themselves without external capital.

It can be new, non-anonymous blockchain, where everone allowed to input own line (can be multicurrency) to existing acc/accs (make a "deposit") and to create broadcasting debt. Each new acc'd be quilified to participate by some form of quorum of existing accs. And forgers here (accs, willing to forge) will independently check zero-sum of system and non-overflowing of each opened line, generating blocks with 1/nodes chances. M? Cos it's trustful system, it'll look much more like Ripple than Nxt.

[EvilDave]

@ Salsacz: I would like to officially request 15K NXT from the conference support section of your marketing fund.   I intend to use these funds to print up handout materials for the Texas Bitcoin Conference, with leftover copies from Austin sent on to NXT reps for the San Francisco, New York and Toronto Bitcoin conventions in the next few weeks.  My NXT account for receiving these funds would be 16092180239932658439. 

I have previously posted the proposed text for this brochure here for review, and have incorporated suggested changes.  See https://asktom.cf/index.php?topic=345619.msg5245021#msg5245021.

I have designed a full color NXT trifold brochure that I would like to have printed in Austin and pickup there on Tuesday evening March 4.   I have priced it with CC West Printing Office (http://ccwestprinting.com) in Austin and their price is 2000 for $526 or 5000 for $723.  Their price is so good for 5000 that I want to order that many.  Turn time is 3 days, so I have to get the final copy to them Thursday Feb 13.?  que?   I will post a PDF receipt for this marketing expenditure on the site here as part of an audit trail.

I will post a link to a PDF here on the site of the final trifold brochure copy I send CC West before I go to Austin so anybody can download it and use it locally.

My intention is to put one of these trifold brochures on every chair in the three speaker areas at the Texas Bitcoin Conference early in the morning on March 6, then go around at the end of the day and pick up any leftovers.   I will then mail unused NXT brochures to whoever is going to the San Francisco conference for their use.  They can keep mailing these brochures forward to each NXT rep at each upcoming conference until they are gone.    Then maybe we can print more, we'll see.

Thanks, Salsa!

rickyness....did a quick proof read of your brochure text and PM'ed it to ya.
I'm on board for any more proof reading u might need....but, if you intend to use these brochures for a while, we need to be sure that they are fairly future-proof, so more proofreaders would also be a good idea.

[S3MKi]

Nxt is 3 months

[ZeroTheGreat]

Sorry for being critical, but I'm not really convinced this system improves the situation of poor people.

Yeah, it often looks fishy at first look, but the key is: there're people in the world who can open private credit lines for "1-hand"-trusted. Those p2p lines can be combined into worldwide system of helping.

[EvilDave]

Nxt is 3 months

And look how we've grown......

<singing lustily>

Happy Birthday to NXT, Happy Birthday to us....

[ZeroTheGreat]

Botnets will rule this once it becomes cheap to forge or the rules are relaxed.  

Maybe so - but I think we could make it harder for them by requiring accounts to "register" their IP address.

(so likely they would end up stomping over each other)

EDIT: If we limited "changing" IP addresses to once per day I think that would make it even harder for botnets.

IMO we'd not give away security level for "fairness". PoN/PoI-algo'd be slick otherwise we start a war with botnets which'll never end. Until such algo unrevealed or not invented I'm sticking to pure PoS.

[rajc]

With all those donations going around, I would like to remind u about 2 great NXT projects, that need some donations too

1. NXT community support for Songs of Love charity (https://asktom.cf/index.php?topic=468258.0)

2. peerexplorer.com  cashes - rewards public nodes for keeping NXT network alieve! (forum topic: https://nextcoin.org/index.php/topic,2266 ) (cashes explained: http://peerexplorer.com/  → FAQ)

[EvilDave]

Just as a laugh, just tried to check the transfer time of some of my lovely NXT from account X to account Y. I pressed send on one open NRS with account X, then swapped tabs within Firefox and the NXT was already on account Y. Try that with Bitcoin.....

[pinarello]

Nxt is 3 months

[ZeroTheGreat]

I doubt it also - but I do think we can address the Sybil attack vector much as with "hallmarking".

I am only trying to *help* but for sure my idea might not be the best one.

In the end we'll end having 1'000'000'000 IP addresses coz a guy with 5172 NXT will create 5172 accounts. So in the end we'll come back to the beginning.

Edit: A good name for this project has just come to my mind - Uroboros. 

so what is the best solution?

"World with money can't be perfect."

[coolmist]

Just as a laugh, just tried to check the transfer time of some of my lovely NXT from account X to account Y. I pressed send on one open NRS with account X, then swapped tabs within Firefox and the NXT was already on account Y. Try that with Bitcoin.....

 ... We could exploit this feature and use it to mix coins into oblivion.

[chanc3r]

Just as a laugh, just tried to check the transfer time of some of my lovely NXT from account X to account Y. I pressed send on one open NRS with account X, then swapped tabs within Firefox and the NXT was already on account Y. Try that with Bitcoin.....

What and risk that transaction thing-a-ma-jig...

No i'm keeping my bitcoin under the mattress from now on

[ZeroTheGreat]

Thanks once again 7017504655955743955
This is really an awesome community!!

Meh, I wanna something too: 16589087577979217010  

[ZeroTheGreat]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

[chanc3r]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

[xyzzyx]

How about FOGRE to avoid any confusion...

[ZeroTheGreat]

Ofc, I here disagree with BCNext, if he stays on "mining" today. There's objective difference between entities: mining, PoS-mining and forging.

[Jean-Luc]

Why in 0.8.0e shareMyAddress is the same as peer networking?
Why i cannot run peer networking without sharing my address as it have been before?

If you have an address that other peers can connect to, you can't really prevent that from being shared. Even if your peers don't share it with each other, you don't control which peers you connect to. So when you connect to one peer, after a while you request from it all other peers that it knows about. Then, you start connecting to them one by one - and all of them get to know your address directly from you. So it doesn't make sense to announce a public address, yet to set sharing to false. It will still get known, only a bit slower.

In fact, in 0.8.1, I added a feature so that setting nxt.myAddress is optional and only strictly needed if you use a non-default port. If you don't set nxt.myAddress, but nxt.shareMyAddress is still true (the default), when you connect to a peer he will see the address your request is coming from, and at a later time try to connect to this address at the default port (unless you have set nxt.myAddress to something else, in which case it will try to connect to your announced address). If it succeeds, it will treat your peer as if nxt.myAddress has been set to the address your connection was seen as coming from. And also share this address with others so they can also connect to you. This way you don't need to worry about what is the external IP of your router, and especially if it ever changes for those with dynamic IPs. If you don't want this to happen, set nxt.shareMyAddress to false. In this case, the peer networking server will not be started at all as nobody will be attempting to connect to you. You can of course still make outgoing requests and receive responses to them.

[salsacz]

My intention is to put one of these trifold brochures on every chair in the three speaker areas at the Texas Bitcoin Conference early in the morning on March 6

if you do this, organizator will collect them all in 5 minutes. It is not allowed to use conf areas for non paid ads

[Voluntold]

Green Nxt: exotic video, new version:
http://youtu.be/cP4KFH6Iz0g

feel free to share

Good video, perhaps a typo though, "Mine Forge Nxt with your smartphone or raspberry pi"

or did you use mine for attraction value to a newcomer

You know how I know BCNext is not a native English speaker?  A native English speaker never would have used the word "forge" positively in connection with currency.

I dont believe bcnext came up with that term

BCNext used "mining" as I recall.

How about FOGRE to avoid any confusion...

LOL. I'm gonna HODL some Nxt and then use it to FOGRE.