NXT :: descendant of Bitcoin - Updated Information - page 1071.

gimre

legendary

Activity: 866

Merit: 1002

Quote from: Come-from-Beyond on February 05, 2014, 11:14:54 AM

Quote from: CIYAM on February 05, 2014, 11:10:27 AM

Quote from: Come-from-Beyond on February 05, 2014, 11:06:40 AM

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?

Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.

Don't you think this might help ddossing the network? why node should add to block transaction which contains script that most likely won't be executed (coz it contains error or lack of funds or something else)?

achimsmile

legendary

Activity: 1225

Merit: 1000

fee: 0.1

Only few will continue to forge for 0.01 at today's price, plus it's cheap to spam the blockchain.
Lower the fee again when price rises above 10$.

Hacer88

member

Activity: 80

Merit: 10

A newbie question about Forging;

Whenever someone has 30K NXT. What is the best time start forging?
Now? Or when NXT is adapted by the market so there will be more transactions so the blocks will contain more rewards.

And how does the decreasing the fee will effect the reward of forging? I guess it will be reduced as well?

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

Quote from: Come-from-Beyond on February 05, 2014, 11:14:54 AM

Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.

I guess I am missing something - how then does it fly? Surely it needs to be validated as to what it does by all (or at least the majority) of nodes otherwise how can we know it has been processed correctly?

Isildur23

full member

Activity: 178

Merit: 100

Can i give somebody the right to vote instead of me? I know you won't like this but i am not a coder and i have no idea how much we should lower the fee without bloating the blockchain. Or in such case all people like me shouldn't vote at all?
In case you agree, i give @Come-from-Beyond the right to vote instead of me on this.

wesleyh

sr. member

Activity: 308

Merit: 250

I would be ok with moving to 0.1, but only full nxt numbers should be able to be sent.

So you cannot send for example 0.5 nxt to someone. The minimum you can send is 1nxt. will this be the case?

If you have 105.45 nxt, you can send 105nxt, the 0.45 can only be spent on fees.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: CIYAM on February 05, 2014, 11:10:27 AM

Quote from: Come-from-Beyond on February 05, 2014, 11:06:40 AM

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?

Pushing a block means to add it to the end of the blockchain. All the transactions r processed during this event. By saying that forgers won't interpret scripts I mean that forgers don't need to validate or do any other analysis of a script. Put it into a block and let it fly.

kresu

sr. member

Activity: 326

Merit: 250

So where is the transparent ledger of all the NXT which existed before trading was possible?

intel

member

Activity: 98

Merit: 10

Quote from: nakaone on February 05, 2014, 11:01:22 AM

Quote from: intel on February 05, 2014, 10:44:02 AM

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Dont also be confused with 10b cap, you 'll never get 10b when trying to sell all the NXT.

marcus03

full member

Activity: 224

Merit: 100

Quote from: Come-from-Beyond on February 05, 2014, 10:08:27 AM

Time to move to smaller fees. What MIN fee should we set? Remember that lower values make it cheaper to bloat the blockchain.

Discuss.

Please announce the change and give devs at least 14 days to adopt their code. (This is the first time we would be forced to use decimal places after the comma...)

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

Quote from: Come-from-Beyond on February 05, 2014, 11:06:40 AM

Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

I don't quite get this part (the other statements all look reasonable) - what exactly do you mean by "pushing the block" vs. "forging" and which nodes are "checking" that the script operation has been performed correctly (and exactly how)?

intel

member

Activity: 98

Merit: 10

Quote from: nakaone on February 05, 2014, 11:01:22 AM

Quote from: intel on February 05, 2014, 10:44:02 AM

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

Because even stupid forks costs more with absolutely no background. NXT has features which you may not fully understand yet, but bitcoin is nothing against them.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Regarding Scripts:

Every script will reserve a chunk of memory (subject to fee charging).
Every memory cell will be a signed 64-bit integer.
Scripts won't be able to modify themselves nor other scripts, so JIT-compilation could be easily used.
Scripts will run in a sandbox by a byte-code interpretator.
Each operation will require the same amount of NXT, if an account runs out of coins then interpretation is halted.
Scripts will be able to read block and transaction data in format-agnostic manner, they will also be able to "send" transaction. Such the transactions won't require to be signed, they will be able to spend money from the original account only.
Forgers won't "interpret" scripts, interpretation will occur during pushing the block.

seek4dream

hero member

Activity: 966

Merit: 501

Quote from: voldemort628 on February 05, 2014, 10:49:06 AM

0.1nxt should be the min fee for now.
And i propose that we revisit the issue once price reaches new range (hopefully higher range).

agree

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

fee: 0.1

Don't forget that with lower fees the incentive to forge also diminishes.

voldemort628

full member

Activity: 155

Merit: 100

Quote from: CIYAM on February 05, 2014, 10:44:54 AM

Quote from: bitcoinpaul on February 05, 2014, 10:40:21 AM

more great features: no bloated blockchain, no 50% attack. energy efficient. decentralized exchange. mobile friendly.

Indeed - these seem like pretty good features which is why I question (although have also posted ideas about) the need for things like "Turing complete" contracts (or whatever they should be called).

It appears that this is a bit of a problem for the Nxt community - it doesn't seem to know exactly who it is trying to appeal to (apart from *everyone*).

Totally agree with Ian.
Nxt needs clear visions + proper planning + good organisations + talented devs + supportive community.
Community members should step up and start taking up responsibilities.Get ready for post-cfb period, when our community have a clear view of bcnext's plans and make WELL INFORMED decisions.

nakaone

hero member

Activity: 742

Merit: 500

Quote from: intel on February 05, 2014, 10:44:02 AM

$10 USD per 1 NXT is very pessimistic price for the end of 2014.

are you guys on crack or something - I really do not want to be a pessmist but why on earth should there be a 10b market cap for nxt in the end of 2014?

CIYAM

legendary

Activity: 1890

Merit: 1086

Ian Knowles - CIYAM Lead Developer

Quote from: fmiboy on February 05, 2014, 10:52:56 AM

If I remember, cfb mentioned that you can forge with 2 or possibly more account from same running Nxt.
I wonder though, can one log in any node and close browser to be able to forge?

From what I understood the Account Control (is that the right name?) feature will allow you to allocate your "forging" rights to another account (although I don't think that the specifics have been disclosed yet).

So I don't think you would need to be "logged in" at all.

bidji29

sr. member

Activity: 392

Merit: 250

fee: 0.1

fmiboy

full member

Activity: 189

Merit: 100

Quote from: Come-from-Beyond on February 05, 2014, 08:43:00 AM

Quote from: bitcoinpaul on February 05, 2014, 08:38:34 AM

Tell me again how I can forge with my smartphone? What are the details of a hypothetical "lightweight client"?

U will lease forging power. And u don't need complete blockchain coz u can send transactions via public nodes (Service Providers in the future).

If I remember, cfb mentioned that you can forge with 2 or possibly more account from same running Nxt.
I wonder though, can one log in any node and close browser to be able to forge?

Fee 0.01

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