Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 497. (Read 941285 times)

A leader of the altcoin market, a lot of followers are waiting for the source code of Asset Exchange.

Here we go again.

How would your fairer forging system work?


Then the large stakeholder splits his account and still forges most of the fees.

I want to use this quote to address an issue about forging power to the NXT community:

Besides the discussion of the 73 stakeholders, I come to the conclution that the accounts forging power being proportional to the ammount of NXT one possesses is fair in general (what concerns the forging system per se). BUT there is one big disadvantage that can also be seen in parallel to the fiat money system:

Large fiat holders get interest and compounded interest therefore always get richer whereas "average Joe" pays the interest for big "fiat-stakeholders". This inequality leads to the growing gap between rich and poor hard-working. The system works for large fiat-holders, in other words, the hard-working people indirectly work for large holders by paying loan-tax, VAT, credits,...

Now NXT forging system rewards those who posess the highest stakes. For people who have small ammounts, theres kind of an emotional threshold (if those kind of people let their client forge), to use NXT in general. I can imagine people quickly get frustrated seeing they dont get rewarded by the system when letting their nodes run.

Dont we see this all day? Arent we upset that people "up there" always get their pockets lined? Should a system for common people (as you are preaching nxt should be accepted by EVERYONE) ensure inequality? I SAY NO!

What about fair distribution of forged NXT? What about cutting upper limit of forging power at couple of thousand NXT? Has this topic been discussed before?

Thanks a lot!!

its really getting excited with the asset exchange coming up!

You have to edit the file nxt-default.properties

# Known bad peers to be blacklisted
nxt.knownBlacklistedPeers=

Here you have to fill in the IP's of the nodes that you want to blacklist.

I never blacklisted a node so I hope this is the right way to do it  

How do I blacklist the peers in the new client (Wesley's)?

I think your client won't accept the blocks generated by nodes that are not on 1.0.0?

You could blacklist the peers that are not on the curent version

How do I know if I am on the main chain? About 11 out of 20 nodes in my Nxt Wallet (Wesley's client) aren't on 1.0.0.

i am a bit fearful that a lot of nodes didn't upgrade and we ended up with multiple forks.

Yes you can make transactions if you are on the main chain (if you are on 1.0.0).

Here's a list of the nodes, at the bottom: http://www.peerexplorer.com/

Still a lot of nodes who didn't upgrade. Can I make transactions? Where can I get a list of all the nodes?

Agreed.

Couple of things, The main page nxt.org (nxtcommunity.org) makes it really difficult to find the forums and you've taken a lot of focus off the asset exchange countdown.

Only 9 more blocks until 130K! 

Another way to look at is is how much POW mining capacity would you get for your $2 investment? You will get even less forging NXT but the power consumption will be less so you are at least not losing money and who knows, you might get lucky. On a brighter note - with luck, your investment will be worth a lot more in the not too distant future.

Since you started your post mentioning you are a miner, I just want to make sure you understand what forging is, and how your balance correlates. If you are under the impression that running your client with 100 Nxt will net any additional Nxt for you, I am sorry to say it may never happen. Forging only serves to secure the network, so unless you have atleast 100k Nxt, you'll never see any sort of return. If you already understand everything i just covered, well then, please allow me to welcome you to the Nxt community.

On another note, you can point your current minig rig(s) to on of the Nxt pools where they mine other altcoins, then sell them and purchase Nxt's and split the Nxt among contributing miners.

Probably not right away, we need some important add-on features released before seeing a huge spike.  But it will definitely get some more people interested and will be really fun to see what people do with it.

So when the Asset Exchange will finaly be there, what then? NXT to da m00n?