Topic: NXT :: descendant of Bitcoin - Updated Information - page 1344. (Read 2761650 times)

I was thinking of the voting issue as well. So far, a pattern is emerging.

Let v be the voting function, mapping the amount x in one account to it's voting weight: v(x) -> weight of voting. Let's further assume v is monotonically increasing (the more you have the more your vote weigh in) and differentiable (so we have a v').

There are three cases:

1) v' is increasing => merging accounts is more valuable regarding voting => merging encouraged
2) v' is constant => 1 Nxt = 1 Vote; conservative; no change encouraged
3) v' is decreasing => splitting accounts is more valuable regarding voting => splitting encouraged

From my perspective, distribution of nxts is a good thing. So, higher amounts of fees are a good thing. Therefore, splitting and merging accounts should be encouraged as big shareholders then have to give away fees. These fees are then given to the ones forging and stabilizing the network.

On the other hand, splitting and merging just because somebody wants to act in the best interest of the network seem to me like spoon-feeding that somebody.

So, why not making v dependent of the amount of fee somebody is willing to pay for it. I favor a logarithmic scale: v(fee) = log(fee).
In that case, one could even imagine that these special fees aren't just given to block forgers but are evenly distributed among 'all voters' or 'winners' or 'loosers' of the voting session.
So, voting is encouraged.

+1

https://vircurex.com/accounts

Coming Soon

I'm in favor of one vote per NXT.  That maximizes the value of each NXT rather than the value of having multiple accounts, or paying people to scam the system for you in some other way.

Any time you try to decentralized system that makes it difficult to game the system, you restrict the people who game the system to people who are willing to go against the implied moral contract of the platform (that you'll play by the rules).   In that way, I suggest it is better to allow everybody to "cheat" so that "cheating" is performed by good actors AND bad actors instead of just by actors willing to be bad.

NXT has a major concentration of wealth right now, but that's changing pretty quickly and if it gets popular I've got to imagine the temptation to sell part of their stakes will be too great for most.

It's really interesting watching this community - you guys are the only "headless" metalayer, lacking a founder or team and yet delivering with real working software.   

Keep up the good work

There will certainly be an effect on the price of Nxt. Particularly if we get more than just a NXT/BTC trade pair.

And... if I'm not mistaken, one can trade any currency listed on Vircurex against any other. So we are about to get our first NXT/USD and NXT/EUR trade pairs!

They just don't list/link all the trade pairs on the front page (it makes sense because there are "N choose 2" possible pairs, where N is the number of distinct currencies. With the addition of NXT that will be 18C2 = 153 possible pairs).

E.g. On the Vircurex Homepage they list LTC/BTC. Clicking that gives the following URL "https://vircurex.com/orders?alt=ltc&base=btc". Changing "base=btc" to "base=eur" or to "base=usd" gives the following:

https://vircurex.com/orders?alt=ltc&base=usd
https://vircurex.com/orders?alt=ltc&base=eur

Admittedly these have lower liquidity because they aren't advertised very well. Ergo, I think we need to do our part to promote the NXT/USD and NXT/EUR pairs! Who's with me!? Perhaps if the liquidity of NXT/USD or NXT/EUR increased the Vircurex team might put some links to them on their homepage!

so what is it good for then?
I assume the idea is not to vote on wether Nxt community likes turtles to fly or to crawl!?
I assume we vote for codechanges!? and when we come to a majority vote on a code change, we expect whom to implement this code change?

NXT on Vircurex

Just posted on my @nxtcrypto Twitter from Chris Mueller:

"@NxtCrypto vircurex.com/main/index 26 Jan 2014 - Nextcoin (NXT) NEW We will be adding support for Nextcoin (NXT) today or latest tomorrow"

Now, how about that?! Spread it around!

http://mirror.linux.org.au/pub/linux.conf.au/2014/Friday/113-Pettycoin_Losing_Tiny_Amounts_of_Bitcoin_At_Scale_-_Rusty_Russell.mp4

He said before he won't be online during the Miami conf, so there is some offline activity. First after 2 months

Is there a chance of diluting accounts by paying transaction fee for splitting over several accounts?

AFAIK voting is only for opinion, no "legal" consequences.

That's all there is to say. Leave it at energy costs and other implications.

Voting:

in the first place I would like to know how voting should work.

a) who sets up a poll? - probably everyone since we don't have any central authority, right?
b) what kind of poll can we set up?
c) how will the majority vote take effect?

the order isn't quite right yet  

Great News. THANKS PIN

The clients will come out, they get better, more secure. It will work.


In a few years, I want the average joe using NXT without knowing he uses NXT.

The data above is kinda outdated. Hungman and I work on an improved version which should be more resistant to people that try to poke holes into it

May seem to on the first glance. But you have to pay fees in order to do so; which is a good thing for the whole Nxt community.

great

Will be interesting to see whether this has any effect on the nxt price

+1.