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Topic: NXT :: descendant of Bitcoin - Updated Information - page 1983. (Read 2761645 times)

member
Activity: 98
Merit: 10
Plan ahead, sure. I think implementing it should wait however. 1NXT is not that much and we already have people worrying about the distribution of NXT as it is. I would prefer to see it tied to volume and transaction total. Not to a fiat or even BTC price.

People don't think in terms of crypto prices yet, they tend to think in fiat terms.
When/if fiat currencies do collapse, then it'll make more sense to tie the fee to something else,
but now, even from the marketing standpoint, it sounds great when you say that the fee is only 10 cents, all people understand cents, fewer people understand exchange rates and how much it costs in crypto terms. But when you say 10 cents, everyone thinks - wow, so cheap, I gotta have a thorough look into this online currency.
sr. member
Activity: 602
Merit: 268
Internet of Value
the min fee can be set to 0.50, 0.25, etc? can be any number?

Almost any. Minus 1 NXT fee wouldn't be a good decision.

ok,

so when NXT goes to $0.20, set min fee to 0.50, NXT goes to $0.40 set min fee to 0.25, NXT goes to $1 min fee to 0.1, etc.
If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?

I agree that a fee reduction schedule have to be planned ahead. Need to do it the sooner the better.

Plan ahead, sure. I think implementing it should wait however. 1NXT is not that much and we already have people worrying about the distribution of NXT as it is. I would prefer to see it tied to volume and transaction total. Not to a fiat or even BTC price.

Yes plan ahead only. 1NXt is good for now. I think laowai's rule is a good one. Fee should not exceed 10 cent (0.1 us$).
full member
Activity: 126
Merit: 100
Can someone hook me up with a blocks.nrs file as i mistakenly deleted my entire 0.4.7e directory.

just create an empty blockchain.nrs file, and download the blockchain.
I'm doing that but I'm stuck at block 0 for some reason.

It's blocks.nxt and transactions.nxt, not nrs.

Edit: nevermind. I mis-read that.
full member
Activity: 126
Merit: 100
the min fee can be set to 0.50, 0.25, etc? can be any number?

Almost any. Minus 1 NXT fee wouldn't be a good decision.

ok,

so when NXT goes to $0.20, set min fee to 0.50, NXT goes to $0.40 set min fee to 0.25, NXT goes to $1 min fee to 0.1, etc.
If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?

I agree that a fee reduction schedule have to be planned ahead. Need to do it the sooner the better.

Plan ahead, sure. I think implementing it should wait however. 1NXT is not that much and we already have people worrying about the distribution of NXT as it is. I would prefer to see it tied to volume and transaction total. Not to a fiat or even BTC price.
sr. member
Activity: 602
Merit: 268
Internet of Value
All right. I am going to log out now. HAPPY NEW YEAR to YOU all, especially to BCNext, CfB, Luc and all others who are working to keep the network safe and secure. WISH you all a prosperous 2014.
hero member
Activity: 860
Merit: 1004
BTC OG and designer of the BitcoinMarket.com logo
Can someone hook me up with a blocks.nrs file as i mistakenly deleted my entire 0.4.7e directory.

just create an empty blockchain.nrs file, and download the blockchain.
I'm doing that but I'm stuck at block 0 for some reason.
legendary
Activity: 2142
Merit: 1010
Newbie
If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?

Jean-Luc, this is addressed to u.
sr. member
Activity: 602
Merit: 268
Internet of Value
the min fee can be set to 0.50, 0.25, etc? can be any number?

Almost any. Minus 1 NXT fee wouldn't be a good decision.

ok,

so when NXT goes to $0.20, set min fee to 0.50, NXT goes to $0.40 set min fee to 0.25, NXT goes to $1 min fee to 0.1, etc.
If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?

I agree that a fee reduction schedule have to be planned ahead. Need to do it the sooner the better.
member
Activity: 98
Merit: 10
the min fee can be set to 0.50, 0.25, etc? can be any number?

Almost any. Minus 1 NXT fee wouldn't be a good decision.

ok,

so when NXT goes to $0.20, set min fee to 0.50, NXT goes to $0.40 set min fee to 0.25, NXT goes to $1 min fee to 0.1, etc.
If someone creates a forum poll on nextcoin.org and majority votes for this min fee setting ratio (always keep min fee ~$0.10), would the devs implement it or would we still need to wait for the VS to be in place?
legendary
Activity: 2142
Merit: 1010
Newbie
the min fee can be set to 0.50, 0.25, etc? can be any number?

Almost any. Minus 1 NXT fee wouldn't be a good decision.

Edit: We could run -1 NXT fee on the testnet. Would be interesting to see the outcome.
member
Activity: 98
Merit: 10
Can someone hook me up with a blocks.nrs file as i mistakenly deleted my entire 0.4.7e directory.

just create an empty blockchain.nrs file, and download the blockchain.
hero member
Activity: 860
Merit: 1004
BTC OG and designer of the BitcoinMarket.com logo
Can someone hook me up with a blocks.nrs file as i mistakenly deleted my entire 0.4.7e directory.
hero member
Activity: 910
Merit: 1000
member
Activity: 98
Merit: 10
the min fee can be set to 0.50, 0.25, etc? can be any number?
legendary
Activity: 1372
Merit: 1000
Quote
I for one have distributed about 50% of my original coins.

Quote
The same. We can assume 50% is average number.

Thank you both for that.  I'd like to believe that the recent price drop is due to this sort of thing but volume seems to be dropping as well.
sr. member
Activity: 602
Merit: 268
Internet of Value
Should stakeholders decide what kind of forging algorithm also ? we need a working, stable system, these decisions are not that different imho .

Forging algo is the only exception, it's BCNext's know-how. The rest can be set by stakeholders.

When 1nxt=1$. It would be too much to do anything if it cost at least 1$. But I doubt the rentier class would agree to do anything until the whole system grinding to a collapse. Before that happening, I would take the source codes and make a truly working, economically sensible decentralized system.
member
Activity: 98
Merit: 10
Let's get the VS in place and vote everything, can't wait for that Smiley

Arbitrary Messages is next feature, VS will be later. Also we need client soft that supports VS. I see noone is developing it.

Yeah, well, the min fee can be voted on the forum, it's not like it's a crucial decision and cannot be changed later.
The min fee should be set to that of bitcoin min fee I guess, or less if it's safe to set it less. No reason to complete with bitcoin on the min fee size, but still it should be low enough not to scare people from transacting. So, as NXT price grows, the min fee should decrease, $0.10 is a good round number to stick to, so far this target is met.
legendary
Activity: 1176
Merit: 1134
landomata,

wesleyh's share would be (daily forged amount of total community NXT fund) * (percentage of overall revenue alias fees are) since the day he released the plugins.

Currently that is ~1% of ____ per day

When we get DNS functionality he will share it with the ones who implement DNS. Probably costs for real work DNS hosting would come off the top of Aliascompany NXT

This way we can quantify each person's contribution to the community, instead of guessing what each feature is worth. Of course, nothing stops people from sending their NXT to people who are already getting community funds.

James
legendary
Activity: 2142
Merit: 1010
Newbie
I'm a supporter of the NXT project, but I noticed these kind of issues are a recurring theme. It causes a bit of a trust issue. Why is it happening, is it happening solely because the blockchain ain't downloaded/refreshed properly? Because you ain't connecting to proper peers? Something third?

He should ask the exchange owner. If the transaction was confirmed then his exchange balance must be increased. It's better to post this in DGEX thread.
legendary
Activity: 2142
Merit: 1010
Newbie
Let's get the VS in place and vote everything, can't wait for that Smiley

Arbitrary Messages is next feature, VS will be later. Also we need client soft that supports VS. I see noone is developing it.
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