| Nxt | Blockchain Platform | Proof of Stake | Official - page 354.

Voluntold

full member

Activity: 168

Merit: 100

Quote from: Anon136 on June 16, 2014, 07:47:20 AM

Quote from: SomethingElse on June 16, 2014, 05:10:07 AM

The way I read it, the individual forgers will choose a minimum fee they are willing to accept.

The individual users will select a fee they are willing to pay. As long as the fee of the user is above the fee of the forger, the transaction goes through. The forger will get all of the fee offered up by the user, not just the minimum.

The the users fee is too low, then the transaction will wait for the next block or for any block that will process it.

I am not really sure if this is going to be implemented or not.

Originally, I thought it was strange, but after thinking about it more, it is a really nice system. After a while the free market will sort out an average known price for making sure a transaction goes through.

The problem with choosing a set price like 1 or .01 or .001 is it is so subjective and will constantly have to be changed as the price of NXT goes up and down.

Static fees just don't represent a free market.

Yes i strongly support this. I hope that JLP will implement this sometime. However it may be wise not to until the point at which at least even the most marginal demand exceeds supply.

Oh wow. I hadn't heard of this before, but yeah, perfect idea. Let the free market decide on the fee like it should be. I hope this is implemented as well. I don't see any point in waiting though...

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: SomethingElse on June 16, 2014, 05:10:07 AM

The way I read it, the individual forgers will choose a minimum fee they are willing to accept.

The individual users will select a fee they are willing to pay. As long as the fee of the user is above the fee of the forger, the transaction goes through. The forger will get all of the fee offered up by the user, not just the minimum.

The the users fee is too low, then the transaction will wait for the next block or for any block that will process it.

I am not really sure if this is going to be implemented or not.

Originally, I thought it was strange, but after thinking about it more, it is a really nice system. After a while the free market will sort out an average known price for making sure a transaction goes through.

The problem with choosing a set price like 1 or .01 or .001 is it is so subjective and will constantly have to be changed as the price of NXT goes up and down.

Static fees just don't represent a free market.

Yes i strongly support this. I hope that JLP will implement this sometime. However it may be wise not to until the point at which at least even the most marginal demand exceeds supply.

SomethingElse

full member

Activity: 210

Merit: 100

Looking for the next big thing

The way I read it, the individual forgers will choose a minimum fee they are willing to accept.

The individual users will select a fee they are willing to pay. As long as the fee of the user is above the fee of the forger, the transaction goes through. The forger will get all of the fee offered up by the user, not just the minimum.

The the users fee is too low, then the transaction will wait for the next block or for any block that will process it.

I am not really sure if this is going to be implemented or not.

Originally, I thought it was strange, but after thinking about it more, it is a really nice system. After a while the free market will sort out an average known price for making sure a transaction goes through.

The problem with choosing a set price like 1 or .01 or .001 is it is so subjective and will constantly have to be changed as the price of NXT goes up and down.

Static fees just don't represent a free market.

Brangdon

sr. member

Activity: 365

Merit: 251

Quote from: lovely89 on June 16, 2014, 04:05:38 AM

No one is complaining. The minimum is 1 nxt, they were simply stating a fact.

The nxt fee is being reduced to 0.1 nxt in the next version and I think I read something about the decentralised marketplace coming out then too.

There are plans to shift to a per-byte fee rather than a flat fee, so bigger transactions will cost more than small ones. I don't know when that will happen.

It's perhaps worth emphasising that 1 NXT is the minimum, and some transaction types cost more. Currently it costs 1,000 NXT to register a new asset, for example. The fees are used to discourage spam as well as to reward forgers.

lovely89

sr. member

Activity: 378

Merit: 250

Quote from: nxt2damoon on June 16, 2014, 01:13:53 AM

Quote from: Eadeqa on June 16, 2014, 01:08:25 AM

Quote from: achimsmile on June 16, 2014, 12:47:30 AM

Transaction fees. Every Nxt transaction costs min. 1 Nxt

Transaction fee can be lowered sometime in future. Right now it's still only 7 to 8 cents.

CHEAP as fuck and the retards still moan / im sick of them spreading FUD
NXT is shit, NXT is a scam, 1 nxt tx fee is to much Lol.

No one is complaining. The minimum is 1 nxt, they were simply stating a fact.

The nxt fee is being reduced to 0.1 nxt in the next version and I think I read something about the decentralised marketplace coming out then too.

Eadeqa

hero member

Activity: 644

Merit: 500

Quote from: ShroomsKit_Disgrace on June 16, 2014, 02:02:47 AM

LOL so now we have an ultra-NXT-supporter but offensive troll? Cheesy

no, he is just as a sock puppet of Come-from-Above

and he is trolling.

put him on ignore

achimsmile

legendary

Activity: 1225

Merit: 1000

Quote from: ShroomsKit_Disgrace on June 16, 2014, 02:02:47 AM

LOL so now we have an ultra-NXT-supporter but offensive troll? Cheesy

I never thought that I'd say this, but I like the contra Nxt trolls more than the pro Nxt trolls. Emule, where are you when we need you?

ShroomsKit_Disgrace

legendary

Activity: 952

Merit: 1000

Yeah! I hate ShroomsKit!

LOL so now we have an ultra-NXT-supporter but offensive troll? Cheesy

nxt2damoon

newbie

Activity: 14

Merit: 0

Quote from: Eadeqa on June 16, 2014, 01:08:25 AM

Quote from: achimsmile on June 16, 2014, 12:47:30 AM

Transaction fees. Every Nxt transaction costs min. 1 Nxt

Transaction fee can be lowered sometime in future. Right now it's still only 7 to 8 cents.

CHEAP as fuck and the retards still moan / im sick of them spreading FUD
NXT is shit, NXT is a scam, 1 nxt tx fee is to much Lol.

ilic

hero member

Activity: 535

Merit: 502

Quote from: Eadeqa on June 16, 2014, 01:08:25 AM

Quote from: achimsmile on June 16, 2014, 12:47:30 AM

Transaction fees. Every Nxt transaction costs min. 1 Nxt

Transaction fee can be lowered sometime in future. Right now it's still only 7 to 8 cents.

ah, thanks, makes sense.

Eadeqa

hero member

Activity: 644

Merit: 500

Quote from: achimsmile on June 16, 2014, 12:47:30 AM

Transaction fees. Every Nxt transaction costs min. 1 Nxt

Transaction fee can be lowered sometime in future. Right now it's still only 7 to 8 cents.

nxt2damoon

newbie

Activity: 14

Merit: 0

Quote from: achimsmile on June 16, 2014, 12:47:30 AM

Quote from: ilic on June 16, 2014, 12:45:34 AM

Quote from: nxt2damoon on June 16, 2014, 12:36:23 AM

Quote from: ilic on June 15, 2014, 08:44:42 PM

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

Have you got sum mentle problems bro ? what dont u get ? The payment system is perfect , nxt is perfect . Stop spreading FUD all da time. Go back to ur shit coin n bitch.
nxt to da moon

It appears you have your own set of problems which you should seek help for.

For those that answered appropriately, thanks. I actually hold some NXT and think it is one of only a handful of alt currencies that will be around for a long time to come.

Another question, so if the total amount of NXT is set, how does forging work then? If the total amount is 999,997,096, where are these forged coins coming from? sorry if dumb question, I am just trying to learn more about it

Transaction fees. Every Nxt transaction costs min. 1 Nxt

1 nxt is nothing , visa charge 2.5%
u want stuff free , nothing is free n stop bitching here . I f you dont like NXT go back to someplace and moan. NXT is a best, We own all shit coins Grin

achimsmile

legendary

Activity: 1225

Merit: 1000

Quote from: ilic on June 16, 2014, 12:45:34 AM

Quote from: nxt2damoon on June 16, 2014, 12:36:23 AM

Quote from: ilic on June 15, 2014, 08:44:42 PM

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

Have you got sum mentle problems bro ? what dont u get ? The payment system is perfect , nxt is perfect . Stop spreading FUD all da time. Go back to ur shit coin n bitch.
nxt to da moon

It appears you have your own set of problems which you should seek help for.

For those that answered appropriately, thanks. I actually hold some NXT and think it is one of only a handful of alt currencies that will be around for a long time to come.

Another question, so if the total amount of NXT is set, how does forging work then? If the total amount is 999,997,096, where are these forged coins coming from? sorry if dumb question, I am just trying to learn more about it

Transaction fees. Every Nxt transaction costs min. 1 Nxt

ilic

hero member

Activity: 535

Merit: 502

Quote from: nxt2damoon on June 16, 2014, 12:36:23 AM

Quote from: ilic on June 15, 2014, 08:44:42 PM

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

Have you got sum mentle problems bro ? what dont u get ? The payment system is perfect , nxt is perfect . Stop spreading FUD all da time. Go back to ur shit coin n bitch.
nxt to da moon

It appears you have your own set of problems which you should seek help for.

For those that answered appropriately, thanks. I actually hold some NXT and think it is one of only a handful of alt currencies that will be around for a long time to come.

Another question, so if the total amount of NXT is set, how does forging work then? If the total amount is 999,997,096, where are these forged coins coming from? sorry if dumb question, I am just trying to learn more about it

nxt2damoon

newbie

Activity: 14

Merit: 0

Quote from: Triffin on June 15, 2014, 10:20:50 AM

Finally moving some NXT from the exchange to my wallet ..
Can I just create an additional NXT account with a different 'passphrase'
and just send some NXT between the two wallets to trigger the enhanced security
features or do I need a deposit from someone/where else ??

TIA

Triff ..

thats good you buy nxt at exchange. This is not a pump n dump coin ever. if you need help bro just yelp. cos i luv nxt to da moon
Oh make good password or BOTS will steal ya coins, then you b sad retard
nxt is da best
Nxt the best you can get

nxt2damoon

newbie

Activity: 14

Merit: 0

Quote from: ilic on June 15, 2014, 08:44:42 PM

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

Have you got sum mentle problems bro ? what dont u get ? The payment system is perfect , nxt is perfect . Stop spreading FUD all da time. Go back to ur shit coin n bitch.
nxt to da moon

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: ilic on June 15, 2014, 08:44:42 PM

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

nxt should always be used as "the money" inside of the nxt ecosystem because the security of the network is atleast partially a function of the price of nxt.

the 1 billion amount can never be changed except with a hard fork. just like bitcoin.

ilic

hero member

Activity: 535

Merit: 502

Quote from: durerus on June 15, 2014, 07:05:40 PM

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

i too am quite interested in NXT, i'd be interested for an answer to this too as coming from a tradtional mine and trade crypto background I dont quite get the payment system platforms like NXT and Ripple

PilotofBTC

legendary

Activity: 1736

Merit: 1001

Quote from: Triffin on June 15, 2014, 10:20:50 AM

Finally moving some NXT from the exchange to my wallet ..
Can I just create an additional NXT account with a different 'passphrase'
and just send some NXT between the two wallets to trigger the enhanced security
features or do I need a deposit from someone/where else ??

TIA

Triff ..

You should create a transaction from each wallet to secure it. Either spend NXT to another account, or register an alias on each account.

durerus

sr. member

Activity: 321

Merit: 252

Just reading your economic paper: https://docs.google.com/file/d/0BwAGADgnQcrtdXE5MkF5S05oaHM/edit?pli=1

Some questions:
-Do you want Nxt to be used as money (medium of exchange + store of value)? Because on page 4 I read "Deflation is not much better than inflation. 'Real' coins should be created on top of Nxt, and be issued in quantities that keep their value constant."

-Do you want to increase the amount of 1 billion Nxt? On page 4 it says "there is no limit for a specific type of monetary expansion".

I really like Nxt, but these economics discourage my enthusiasm Sad

Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 354. (Read 941287 times)