NXT :: descendant of Bitcoin - Updated Information - page 1651.

xyzzyx

sr. member

Activity: 490

Merit: 250

I don't really come from outer space.

Quote from: pinarello on January 15, 2014, 02:55:35 AM

I hope you all know that exchanges and pools will have huge advantage in this.

Pools having an advantage may not be a bad thing. This is one to ponder.

As for exchanges: they will become less powerful once distributed exchange is implemented and everyone can be their own exchange.

landomata

legendary

Activity: 2184

Merit: 1000

Quote from: coolfish on January 15, 2014, 03:00:56 AM

Shit dgex down again...

I just logged in...seems fine

coolfish

full member

Activity: 121

Merit: 100

Shit dgex down again...

salsacz

hero member

Activity: 490

Merit: 504

bit777 asks about Nxt Daemon https://bitcointalk.org/index.php?topic=183798.new#new

pandaisftw

full member

Activity: 224

Merit: 100

Quote from: pinarello on January 15, 2014, 02:51:06 AM

Quote from: dzarmush on January 14, 2014, 10:55:49 PM

Quote from: gbeirn on January 14, 2014, 10:24:53 PM

Cross posted from: https://forums.nxtcrypto.org/viewtopic.php?f=2&t=530&p=2612#p2612

My thoughts on how to count votes.

Personally I think the most democratic way is 1 Account = 1 Vote, regardless of your wealth (amount of NXT). Sure someone could create multiple accounts to have more votes but since it costs NXT to send NXT to other accounts, you couldn't do this for long without going broke.

Imagine I have 10,000 NXT. I can't create 10,000 accounts. At most I could create 5,000. Since if I send 1NXT to 5,000 accounts it costs me 5,000 NXT in transaction fees just to do so. If I want those NXT all back in one account (to increase ability to forge) then I can create even less accounts since I will incur a transaction fee to send NXT from those dummy accounts back to my main account.

This can actually work well early on since it may help to distribute NXT even more.

Another way to prevent the creation of dummy voting accounts would be to have a rule that NXT must remain in an account for a certain number of blocks before a vote to be counted as a valid voting account. Or say for example if a vote comes up at block 45,000 for example, only accounts that have a balance as of block 45,000 are counted for voting.

I think the coolest part about the voting is that we can use the voting system to tweak the voting system as time goes on. We could come up with all sorts of complex algorithms in the future once we see what the NXT ecosystem looks like.

Any ideas?

Edit: Or maybe even, 1 Account = 1 Vote but it costs 1NXT per account to vote.

For some people it's not a problem to create 100 000 accounts just for voting. Also I hate the idea 1 person - 1 vote.

I was thinking of doing something like that:
1 Nxt - 1 Vote
100 Nxt - 100 Votes
1000 Nxt - 800 Votes
10 000 Nxt -7000 Votes
100 000 Nxt - 60 000 Votes
1 000 000 Nxt - 500 000 Votes
5 000 000 Nxt - 4 000 000 Votes
10 000 000 Nxt - 6 000 000 Votes

Is this possible:

1 vote = paying x% of owend coins

the fee will be devided between the x poorest accounts.

I have 1NXT fee for voting is 2% I pay 0.02NXT fee

I have 1,000,000 NXT I have to pay 20,000NXT

Pin

This will not stop a large holder from transferring 1 NXT to a large amount of accounts, then voting with those accounts to get around the fee. IMO 1 NXT = 1 vote is the simplest, least gamed method.

pinarello

full member

Activity: 266

Merit: 100

NXT is the future

Quote from: msin on January 14, 2014, 11:53:16 PM

Quote from: CIYAM on January 14, 2014, 11:38:43 PM

Quote from: ?? on ??

In terms of voting, I appreciate what you're trying to do with a 1 person == 1 vote, but... well... it just won't work.

I think it could but it does require a bit of "thinking outside of the box" - I could envision some sort of decentralised online *game* which you have to play in order to vote (you only get to vote when you finish the game).

If you limit the time window (and make the game something that might take an hour or so to complete) then I think you'd get close to 1 vote per person (you'll never get it 100% right).

It's really a question of whether a "democracy" is what is wanted or whether instead it should just be the largest stakeholders that make the decisions.

Maybe a better way is to simply *pay* for a vote - so if you want to vote 10K times it costs you 10K NXT (with the funds being used on whatever is being voted for I guess).

Yeah, I think in the end it's best if it's 1 Nxt - 1 Vote, keep it simple.

I hope you all know that exchanges and pools will have huge advantage in this.

Coinonaer

full member

Activity: 168

Merit: 100

Quote from: markus1000 on January 15, 2014, 02:51:28 AM

just a reminder please support Nxt on Cryptsy. Register and click "Do you like this idea?"

https://cryptsy.freshdesk.com/support/discussions/topics/44434

I guess Cryptsy-support we have had more than enough within the last 3 weeks. Is not the main problem for adding Nxt to Cryptsy the not full available source code and the technical implemantation in general?

markus1000

full member

Activity: 153

Merit: 100

just a reminder please support Nxt on Cryptsy. Register and click "Do you like this idea?"

https://cryptsy.freshdesk.com/support/discussions/topics/44434

pinarello

full member

Activity: 266

Merit: 100

NXT is the future

Quote from: dzarmush on January 14, 2014, 10:55:49 PM

Quote from: gbeirn on January 14, 2014, 10:24:53 PM

Cross posted from: https://forums.nxtcrypto.org/viewtopic.php?f=2&t=530&p=2612#p2612

My thoughts on how to count votes.

Personally I think the most democratic way is 1 Account = 1 Vote, regardless of your wealth (amount of NXT). Sure someone could create multiple accounts to have more votes but since it costs NXT to send NXT to other accounts, you couldn't do this for long without going broke.

Imagine I have 10,000 NXT. I can't create 10,000 accounts. At most I could create 5,000. Since if I send 1NXT to 5,000 accounts it costs me 5,000 NXT in transaction fees just to do so. If I want those NXT all back in one account (to increase ability to forge) then I can create even less accounts since I will incur a transaction fee to send NXT from those dummy accounts back to my main account.

This can actually work well early on since it may help to distribute NXT even more.

Another way to prevent the creation of dummy voting accounts would be to have a rule that NXT must remain in an account for a certain number of blocks before a vote to be counted as a valid voting account. Or say for example if a vote comes up at block 45,000 for example, only accounts that have a balance as of block 45,000 are counted for voting.

I think the coolest part about the voting is that we can use the voting system to tweak the voting system as time goes on. We could come up with all sorts of complex algorithms in the future once we see what the NXT ecosystem looks like.

Any ideas?

Edit: Or maybe even, 1 Account = 1 Vote but it costs 1NXT per account to vote.

For some people it's not a problem to create 100 000 accounts just for voting. Also I hate the idea 1 person - 1 vote.

I was thinking of doing something like that:
1 Nxt - 1 Vote
100 Nxt - 100 Votes
1000 Nxt - 800 Votes
10 000 Nxt -7000 Votes
100 000 Nxt - 60 000 Votes
1 000 000 Nxt - 500 000 Votes
5 000 000 Nxt - 4 000 000 Votes
10 000 000 Nxt - 6 000 000 Votes

Is this possible:

1 vote = paying x% of owend coins

the fee will be devided between the x poorest accounts.

I have 1NXT fee for voting is 2% I pay 0.02NXT fee

I have 1,000,000 NXT I have to pay 20,000NXT

Pin

voldemort628

full member

Activity: 155

Merit: 100

Quote from: lophie on January 15, 2014, 02:14:31 AM

I am selling 4 million nxt at 0.000045 each!

check my thread at

https://bitcointalksearch.org/topic/selling-400000000-nxt-at-0000045btc-each-399205

0.000045 or 0.000075?

) the thread still says 0.000075

coolfish

full member

Activity: 121

Merit: 100

Quote from: lophie on January 15, 2014, 02:14:31 AM

I am selling 4 million nxt at 0.000045 each!

check my thread at

https://bitcointalksearch.org/topic/selling-400000000-nxt-at-0000045btc-each-399205

exchange here.. https://www.newaltex.com/

superresistant

legendary

Activity: 2156

Merit: 1131

Quote from: hvezdasmrti on January 15, 2014, 12:43:18 AM

NXT is tooo expensive, 38 mil. market cap for premined starter up in pre-beta testing? Are you kidding? Adequate price for approving more people would be 10 times lower. At least 10 times.

You cannot imagine how low the price is right now. Remember the price of Bitcoin one year ago ? two years ago ?
You can buy NXT 10 times higher and still be making a profit on the long term.
It's up to you. No one force you to invest in anything.
If you're fine working in McDonald and giving your money to the bank for them to make a profit that's your choice.
Or you can invest right now in NXT and save yourself from worries about life and how tomorrow will be and stuff.

Wink

(I'm kidding dude don't take it bad)

xgc

member

Activity: 69

Merit: 10

Quote from: salsacz on January 15, 2014, 01:47:35 AM

Number of Accounts with 1-10 Nxt = 7.352
Number of Accounts with 11-100 Nxt = 827
Number of Accounts with 101-1.000 Nxt = 1.236
Number of Accounts with 1.001-10.000 Nxt = 869
Number of Accounts with 10.001-100.000 Nxt = 718
Number of Accounts with 100.001-1.000.000 Nxt = 312
Number of Accounts with more than 1.000.000 Nxt = 122
Number of Accounts with more than 10.000.000 Nxt = 21
Number of Accounts with more than 30.000.000 Nxt = 6

This just made my day!

pandaisftw

full member

Activity: 224

Merit: 100

Quote from: Come-from-Beyond on January 15, 2014, 02:26:50 AM

Voting is used for getting the opinion only.

Nice

A truly decentralized way of achieving consensus.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

What is a valid issue/topic for voting?

Anything.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

Who can raise a vote?

Anyone.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

How long must a poll take place to be considered valid?

The person who created a poll decides.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

What information will be provided when a poll is opened?

The person who created a poll decides.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

Who is responsible for providing this information?

Anyone or noone.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

If a majority of voters lack technical knowledge and cannot be educated effectively in the polling time frame, is voting an effective method of decision-making?

Voting is used for getting the opinion only.

Quote from: nxtgt on January 15, 2014, 02:00:21 AM

Who is responsible for initiating action once voting ends?

No actions required.

lophie

hero member

Activity: 924

Merit: 1003

Unlimited Free Crypto

I am selling 4 million nxt at 0.000045 each!

check my thread at

https://bitcointalksearch.org/topic/selling-400000000-nxt-at-0000045btc-each-399205

voldemort628

full member

Activity: 155

Merit: 100

Quote from: lyynx on January 14, 2014, 09:15:09 AM

Quote from: voldemort628 on January 14, 2014, 05:54:47 AM

noob question: my tx got only 5 confirmations after a week..is this something to be worry about ?

What is the transaction id? Also, are you basing your 5 confirmations on the block explorer or your actual client? I ask this only because I had a transaction stuck at 5 confirmations based on the blockexplorer, however, my client actually showed a much higher count. This stayed like this for a couple of days but now after checking the blockexplorer the count is correct now.

ohhh thanks. all good now. the block explorer was lagging i think lol

nxtgt

newbie

Activity: 42

Merit: 0

How about rules that revolve around voting? What is a valid issue/topic for voting? Who can raise a vote? How long must a poll take place to be considered valid? What information will be provided when a poll is opened? Who is responsible for providing this information? If a majority of voters lack technical knowledge and cannot be educated effectively in the polling time frame, is voting an effective method of decision-making? Who is responsible for initiating action once voting ends?

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: marcus03 on January 15, 2014, 01:50:58 AM

Is there an ETA for the voting system?

It will be launched before April.

Zahlen

member

Activity: 98

Merit: 10

Quote from: xyzzyx on January 15, 2014, 12:53:25 AM

Nxt is a psychological experiment in group dynamics as well as a cryptoplatform.

I agree, and I hope this experiment will succeed. Remember the "fun" game where we, as a community, had to choose 3 questions to ask BCNext? It wasn't really about getting answers, if you read CfB's announcement carefully, it was really about getting the community to come to an agreement on which 3 questions to ask.

Topic: NXT :: descendant of Bitcoin - Updated Information - page 1651. (Read 2761645 times)