NXT :: descendant of Bitcoin - Updated Information

[igmaca]

I don't get your idea, or I get it. I don't know.

Instead of leasing forge power, you commit with your account to share fees among others in the same "share fee group" if you forge a node. You still try to forge a block on your own, but you commit to share the incentive with others if you are successful (with special conditions like committing to run the node for some time, ...). Could this be done with AT and would that make sense?

there really isnt much point in this mechanism.  what you are describing is basically a rube goldberg contraption that produces the exact result of current NXT account/network forging

The idea is that all forgers repeatedly get small incentives for trying to forge. It is a pure psychological reason.

In the end, the fee distribution is the same.

exact!

But it is very important to keep alive the interest of forging every day because we want two things;

every day we must keep network secure
every day we must keep maximum decentralized network

That's why WE need to start spreading the Nxt even in cities, in schools and in every place.

it is true every time I like more Nxt ecosystem and community spirit.

 

[gs02xzz]

Greed could be the fatal flaw, if that 50M accounts persist to hoard we are all doomed, simply because that accounts don’t need a higher price to sell, they get rich anyway, no matter what the price is.

I really don't see it as a problem. Even if 500 million NXT don't move, the other 500 million would still be in circulation. That's more than enough. Bitcoin only has 12 million so far  and how many are in circulation? Very low number.

Hoarders can't "kill" nxt. If anything, hoarding pump prices up as less coins are in circulation.

We are in war with Ethereum (for those who have not understood it yet).

We need them engaged!

They must be insane if they don't get engaged now. If I were one of them I would have quit my job to fully work for Nxt.

[msin]

Just talked to bittrex, they have only 86 signups from nxt at the moment..

You should all go and sign up.

Go to https://bittrex.com/Account/Register and use SUPPORT_NXT as the invite code. This gets you past the invite code queue. Place some trades, enabled 2FA, or try any of our other features to help us stress the site before the final launch. If you find a bug, we're handing out bug bounties as well. Having a great exchange helps us but also helps the NXT community.

Done. Testing trading some DOGE until they add NXT.  

Received this from Bittrex, please don't bother signing up any more until we have clarification they can add Nxt.

"Sigh, we just hit a huge technical hurdle that is going to delay this;  I'm not sure we have an easy way around this without doing a lot of core engine restructuring which is super scary.  

I will keep you updated "

I've asked them for more specifics.

Just received this from Bittrex

Never mind... After hanging out 3 hours last night with some folks in your IRC channel, crisis adverted I think.

Thanks to those that helped last night.

[CIYAM]

there really isnt much point in this mechanism.  what you are describing is basically a rube goldberg contraption that produces the exact result of current NXT account/network forging

I would have to agree - and there is no point complicating further something we haven't seemingly even properly worked out (in terms of the modelling).

[Mario123]

That's why WE need to start spreading the Nxt even in cities, in schools and in every place.

Let's create a Nxt virus and spread it via e-mail powerpointpresentations 

[igmaca]

I propose another idea that I think can be quite easy to make.

Putting for example conditions of a contract to build a public building in the blockchain of nxt.

before the blocchain has reached a number of blocks (eg 15 days)

Offers must be entered in the blocchain

When the number reaches the agreed block bids are opened and the work is allocated.

Does Anybody dares to develop the idea?

I am interested to participate.  

[CIYAM]

this I don't understand at all - what exactly was your algorithm for calculating weights?

As stated in my other posts my initial algorithm was not a good "model" (and needed "log" to give the expected results).

It wasn't taking into account the idea that your "ticket number" actually "changes with time" (my updated version does that and produces very much the same as "log" results that the earlier version got without actually using "log").

[opticalcarrier]

not exactly see you in maths
...

no, your comparison is between leased-effectiveBalances scenario and your shared-fee-group scenario, where the only difference is the number of forging nodes.

my comparison is between current state (non leasing) and your shared-fee-group scenario.  How are they not identical?

[martismartis]

I run public node on Android TV stick

Expect some posts like

Why my node on Panasonic microwave oven forges so little blocks? Should I upgrade it to Zanussi?

 

+1000 

[msin]

** Cryptsy Update **

I just heard back from Paul (met him at the Miami Bitcoin Conference), they are looking to implement Nxt in the next few weeks.

I talked with Big Vern @Skype and I introduced CfB to him - he said he will talk to Paul about it (to get help from CfB if needed).

Fantastic. I did a virtual introduction with all the different devs including CfB and Jean-Luc a few weeks ago as well... they have the resources, now it's just a matter of finding time to implement. Nxt keeps taking another step.

Let me make a suggestion to keep this ball rolling.  We should ask the Cryptsy folks to document what was required to get NXT plugged into their system.  Then we should turn right around to allwelder or some of the other Chinese NXT members and see that this info from Cryptsy gets communicated to BTX38.com in China.  We need to be on both of these exchanges as soon as possible.  It is the only way we are going to get exposure to a new pool of capital to buy NXT and get our exchange volume back up.  

+100, let's be really proactive about getting on exchanges, this should be Marketing Committee's priority (once they are established)

[CIYAM]

Does Anybody dares to develop the idea?

Really I don't think this is very helpful.

We are trying to analyse what we have now and work out firstly *if* it has any problems and then think about what we might do to fix/improve the situation.

Just jumping over to another algorithm (without statistical proof) is simply replacing "Peter" with "Paul".

[redsn0w]

That's why WE need to start spreading the Nxt even in cities, in schools and in every place.

Let's create a Nxt virus and spread it via e-mail powerpointpresentations 

hahaha why not ??  

[bitcoinpaul]

there really isnt much point in this mechanism.  what you are describing is basically a rube goldberg contraption that produces the exact result of current NXT account/network forging

I would have to agree - and there is no point complicating further something we haven't seemingly even properly worked out (in terms of the modelling).

Of course we shouldn't put such a wishy-washy idea in our model right now. I think his idea was in reference to the discussion about incentives.

Does Anybody dares to develop the idea?

Really I don't think this is very helpful.

We are trying to analyse what we have now and work out firstly *if* it has any problems and then think about what we might do to fix/improve the situation.

Just jumping over to another algorithm (without statistical proof) is simply replacing "Peter" with "Paul".

Same here I think.

That's the trouble with one big thread

[CIYAM]

Of course we shouldn't put such a wishy-washy idea in our model right now. I think the idea was in reference to the discussion about incentives.

Until we know that the network and blockchain are *secure* I don't think anything else much matters (i.e. you have no incentive to forge with a broken network and/or blockchain).

[antanst]

Anyone tried this?  Looks awesome, great work Regulus.

Yes, I've been trying this. Works nicely. This last version has some specific layout changes that I don't like though :-/

[rickyjames]

If we need speakers, some more techy people should step forward. We have asked for them more than once, because most of us know we are limited in that, but so far none has come forward.

Ahem.   

Not aimed at you AT ALL! I really hope you don't think that.

So, once again: please step up and help out. We shóuld have a technical expert at conferences! I know how scary it can be, but we NEED you people

It's also fun and there is grub to be had!

I'm just joking around with you, I know you're not digging at me or forgetting me.  It's all about the LOLs.

And the fun and the grub.

[mthcl]

this I don't understand at all - what exactly was your algorithm for calculating weights?

As stated in my other posts my initial algorithm was not a good "model" (and needed "log" to give the expected results).

It wasn't taking into account the idea that your "ticket number" actually "changes with time" (my updated version does that and produces very much the same as "log" results that the earlier version got without actually using "log").

yes, I started to reply before reading the thread to the end.
Sorry! 

[igmaca]

there really isnt much point in this mechanism.  what you are describing is basically a rube goldberg contraption that produces the exact result of current NXT account/network forging

I would have to agree - and there is no point complicating further something we haven't seemingly even properly worked out (in terms of the modelling).

share fee group

Well I have gone on record with numerical examples my arguments

it is clear that there are other more important priorities but we must
improve forging system whenever possible.

[gs02xzz]

ethereum and mastercoin have got speakers in all conferences - also in Amsterdam, Toronto.. everywhere

Yes, we really need speakers. This is in my opinion the BIGGEST issue with nxt at the moment.. Preferably a core developer too!

It will be great if we have technical savvy speaker on the panels. But it is also ok if we don't have as long as we have someone who know the high level stuff and the general knowledge on Nxt and will only talk what they know, like marketing guys and CEO type persons. The highest priority is to be there and be present on the panels. Then media will cover it and Nxt will be mentioned along with everyone else. I saw many persons on the panels were marketing and promoters. But people hardly would remember what they talked about during the sessions. All people would remember is what coins were represented there.

[CIYAM]

Well I have gone on record with numerical examples my arguments

You have not created a model with statistical analysis - so we just have your "arguments" which I am not really interested in trying to model (and underlining them or putting them in bold or bigger fonts is just annoying basically).

If you think your idea is somehow "better" then "back it up" with the statistical analysis please (and create some software to do so).