NXT :: descendant of Bitcoin - Updated Information - page 1985.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: bitcoinrocks on December 31, 2013, 11:23:16 AM

What if I were a new user? I wouldn't have any *.nxt files. I would be required to add more well-known peers? If so, why not include them in the distributed web.xml? It would be good to make this software work out of the box.

Where can I find a list of well-known peers to add to web.xml?

http://nxtra.org/nodes/

bitcoinrocks

legendary

Activity: 1372

Merit: 1000

Quote

I just updated 2 out of my 3 public nodes to 0.4.8 and both are stuck on block zero. What should I do?

Quote

Add more well-known peers. And next time don't delete *.nxt.

What if I were a new user? I wouldn't have any *.nxt files. I would be required to add more well-known peers? If so, why not include them in the distributed web.xml? It would be good to make this software work out of the box.

Where can I find a list of well-known peers to add to web.xml?

jl777

legendary

Activity: 1176

Merit: 1134

ebrelus,

I think you missed aldrin's post about his plan of divesting 75% of his founder NXT and then pledging 100% of his remaining 1% of NXT's forging revenue to a community fund.

If this is the average behavior of NXT founds,that means 75% of NXT will be distributed into the early adopters and that the initial concentration of 40% in a dozen(?) full 1BTC founders will be down to 10%

That is less than Ripple Lab's percentage of XRP and with their curing cancer angle, people aren't complaining so much about the 20%.

so with half the Ripple Labs percentage and 100% of income from that diminished percentage funding community activities that mathematically reward people in direct correlation to their contribution in boosting NXT valuations, how exactly is there an image problem?

Contrary to an image problem, NXT has created a nice balance between the wealthy and the rest. BCNext is the one who made the founders wealthy by giving away millions of dollars of software to the founders. That was his right. It is done. Now the founders are selling the vast majority of their shares and giving away 100% of their future income so the early adopters can earn NXT.

Just communicate what is happening, there will be no image problem that I see. On the contrary, the truth of what is happening will be very positive.

James

landomata

legendary

Activity: 2184

Merit: 1000

Quote from: jl777 on December 31, 2013, 11:09:01 AM

Well, for the NXTalias company we have wesleyh and I am sure others now who feel deserving of a share of the NXTalias pie.

aldrin has pledged his 1% stake's forging output. This is such a fantastic thing that it makes all of this possible.

to make this more real, we need to have the following:

a) Calculation of total forging revenues based on NXT pledged to community fund. This acts as a surrogate of pooled mining, instead people contributed to increasing transaction fees and get a prorata share of big NXT pool

b) percentage distribution of a) for each different method of transaction fee generation. I think right now it is sending fees and alias fees.

c) Nomination of people who should split up the allocation of b)

d) peer voting of all properly nominated people in c) to determine each person's share. Eg. each person has a fixed number of points they can give to each other person other than themselves. Tally up each person's total to get their percentage of the NXT.

In math we trust.

I will be happy to be arbiter for whatever issues require arbiting. As long as the voting is by public post, it will eliminate collusions and we all know who the heavy lifters are.

James

P.S. I think someone in the NXTIPO company should do most of the above as the NXT represents profits directly attributable for a group and makes an excellent starting point for company profit reports which allow for investor valuation of NXTcompanies in general. Maybe each NXTcompany would allocate some percentage of their NXT to the NXTIPO company for this?

James...couldn't we combine....Aldrin 1% forging stake & the NXTIPO company into one entity....based on Aldrin's 1% base capital....the NXTIPO company would list on the NXT Asset Exchange(to gain even more forging capital) and pays out the mining fees it generates as a monthly dividends....it's shares would also be traded on the NXT Asset Exchange.

EDIT: the NXTIPO Company becomes the 1st NXT forging pool....no need to trust anyone with your NXT.....just buy shares(to enter the pool) of the NXTIPO Company and received your monthly dividends.

The share price can also appreciate over time.

ferment

full member

Activity: 168

Merit: 100

IDEX - LIVE Real-time DEX

Quick 22k.io update

Since the NXT Blockchain explorer is offline, I added a simple way to peek at an account. Just substitute the account number.

http://22k.io/-account/4915862015826193000

Now if you set an alias to a uri like "acct:4915862015826193000@nxt", you'll get nice forwarding to the account page.

http://22k.io/acct22k

Like?

ps - Thanks for the donations! Keep 'em coming and I'll keep hacking! 4915862015826193000

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: Ebrelus on December 31, 2013, 11:13:15 AM

I think Nxt needs to become more democratic by splitting "transactions mining" system to be in half based on proporcional dividend as we have now and in half based on dividend payed random active accounts of Nxt community.

I'm not sure I got ur idea, but I suspect it's flawed (vulnerable to Sybil attack, for example) or outcome will be exactly the same as in current implementation.

ireneang

member

Activity: 82

Merit: 10

I severely concern the reliability and validity of the NXT transaction mechanism and DGEX system. Two days ago, I attempted to transfer 13287 NXT (plus 13 NXT transaction fee) to my DGEX account as deposit with a transaction deadline of 1 hour. Unfortunately, after one hour (1 hour deadline passed), the transaction was not made, and in my DGEX account history, it was stated that the NXT deposit was pending. Hence, for this pending order, I clicked the “cancel” button to cancel the “deposit”. Then in the history, it was stated that the “pending deposit” was canceled.

After two days (as of now), in my NXT account, 13300 NXT still disappears. From the information button “i”, I found the transaction ID, indicating 13300 NXT was transacted to the DGEX system. However, I could not see any deposit in my DGEX account.

Two days ago, I sent an email to DGEX and left a message in DGEX website. Up to now, no reply from DGEX…

My specific questions are:
1) Why did the NXT transaction still proceed even after the deadline was passed?
2) Where is my 13300 NXT now?
3) Why DGEX does not reply me?

chanc3r

sr. member

Activity: 952

Merit: 253

Quote from: Come-from-Beyond on December 31, 2013, 07:23:46 AM

Quote from: landomata on December 31, 2013, 07:19:24 AM

Quote from: chanc3r on December 31, 2013, 06:50:42 AM

VOTING

Sorry if this has gone off topic – but I had an idea and just had to write it down...

This is Voting Proposal that tries to balance stake with number of participants – its not 1 account 1 vote but hopefully the blend in here will make it difficult to screw the vote with either 1 account holding lots of NXT or lots of account holding little NXT.

1. A vote is proposed

default majority is 51%,
default participation is 51% of all 30 day active accounts with min 1 NXT BEFORE the vote was proposed.
default duration is 24hours and this is minimum.

2. The properties of the vote is that the proposer can propose are

the required majority level (weighted NXT)
participation level (max 100%, minimum 10% of active accounts)
the duration (hours, min 24)

2. The vote is submitted to the network.
4. The voters can weight their vote with their non-refundable NXT Fee min 1 NXT
5. The voters also confirm or reject the majority & participation proposals if they are different from the default, this component is NOT weighted by the NXT Fee and always requires 51% of the participating voters to agree.
6. The vote completes once the participation level is met and 51% of those voting have agreed with that participation level.
7. If the vote does not achieve 51% agreement of proposed participation and achieve that participation then the voting transaction fails and everything rolls back.
8. If the vote does achieve 51% agreement of proposed participation AND that participation is achieved then the vote is successful and the transaction completes.
9. People need to be able to query the vote, see the current stats and increase their FEE if they so wish.
10. The vote result is the number of VOTEs for/against weighted by their respective NXT Fees.
11. The Total Vote Fees are then divided equally between the forger of that block and the participating voters.

So you can buy votes but not by buying NXT and just holding it, you need to be active and put some of your stake behind your vote – if everyone feels equally strong and puts 100 NXT in their vote then you will get most of your stake back but if you want so badly to win you put 1,000,000 NXT in and everyone put in 1 NXT then you may well win but then your stake is divided up amongst the voters.

Yes some people will vote with 1 NXT hoping to get more than 1 NXT in Fees I guess and will try to use mutiple accounts but whatever system is implemented there will always be some who try to screw it.

this is interesting ....good job....Cfb could it this be implemented?

Yes, if there are no flaws. But original voting is based on other algo.

Sorry one further thought - if you wanted to make sure you got a good response from a vote - you could seed it with a bounty as an 'Abstain Vote' - people voting would then see that there was a reward for their view and participate in the vote.

Of course then how many 'votes' might we be running and whatever the split - some of this would go to the forging revenues.

People might run a vote to get peoples opinion on something - not just to change the course of NXT or some other planetary issue..

If you implement voting right so that rewards/revenue can come from participating in the votes people might use it for many things, it won't bias the outcome because people would get the reward irrespective of their vote.

Ebrelus

full member

Activity: 186

Merit: 100

I think Nxt needs to become more democratic by splitting "transactions mining" system to be in half based on proporcional dividend as we have now and in half based on dividend payed random active accounts of Nxt community.

Give us please this weapon to defend Nxt and respond properly to all accusations about Nxt as system rewarding only richest getting richer with no chances for poorer, mass participants. It is much more troublesome to promote it in this shape, because all altcoin hypes were based on possibility of each new participant to mine by himself even very small amount of cryptocurrency and look on growing account.

With this you will see massive feedback from small fishes who bring big fishes and not doubts which are blocking proper progress.

Also somebody should do something with thread Nxt Big Giveaway. Why is it closed for comments and no rewards are payed for few days while all these people are still waiting for it or working hard on Nxt promotion? This is behaviour which undermine faith in Nxt.

And what is it all about that voting system? You want to make Nxt a stock company or club of aristocrats or serious product for everybody? Nxt should stay a free currency for free people and there shouldn't be any totalitarian tools to decrease rights of Nxt owners or do invigilation like NSA criminals do. Keep Nxt decentralisation and freedom of each owner to do what he wants with his own property (as he has with private coins in his pocket).

Nxt is arrow, since you fired it let it fly, don't cut it's wings and wind will do the rest.
I like others belive in Nxt but don't make from it religion, it always ends badly Wink

Keep up and good work. Development progress is really impressive! All the best in new year o7 Cheesy

notsoshifty

sr. member

Activity: 378

Merit: 250

Quote from: Come-from-Beyond on December 31, 2013, 08:21:09 AM

Quote from: ZeroTheGreat on December 31, 2013, 07:59:16 AM

Why do you personally need a Global Voting? For decide what kind of things exactly?

To vote on adding alias transfer.

Why should alias transfer be dependent upon a vote (i.e. VS implementation being a pre-requisite to alias transfer implementation), when other features are being implemented based on demand/steer from forums and from dev team? Do others on this forum not want alias transfer to be implemented sooner?

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: bitcoinrocks on December 31, 2013, 11:07:33 AM

I just updated 2 out of my 3 public nodes to 0.4.8 and both are stuck on block zero. What should I do?

Add more well-known peers. And next time don't delete *.nxt.

jl777

legendary

Activity: 1176

Merit: 1134

Well, for the NXTalias company we have wesleyh and I am sure others now who feel deserving of a share of the NXTalias pie.

aldrin has pledged his 1% stake's forging output. This is such a fantastic thing that it makes all of this possible.

to make this more real, we need to have the following:

a) Calculation of total forging revenues based on NXT pledged to community fund. This acts as a surrogate of pooled mining, instead people contributed to increasing transaction fees and get a prorata share of big NXT pool

b) percentage distribution of a) for each different method of transaction fee generation. I think right now it is sending fees and alias fees.

c) Nomination of people who should split up the allocation of b)

d) peer voting of all properly nominated people in c) to determine each person's share. Eg. each person has a fixed number of points they can give to each other person other than themselves. Tally up each person's total to get their percentage of the NXT.

In math we trust.

I will be happy to be arbiter for whatever issues require arbiting. As long as the voting is by public post, it will eliminate collusions and we all know who the heavy lifters are.

James

P.S. I think someone in the NXTIPO company should do most of the above as the NXT represents profits directly attributable for a group and makes an excellent starting point for company profit reports which allow for investor valuation of NXTcompanies in general. Maybe each NXTcompany would allocate some percentage of their NXT to the NXTIPO company for this?

ferment

full member

Activity: 168

Merit: 100

IDEX - LIVE Real-time DEX

Quote from: laowai80 on December 31, 2013, 05:58:44 AM

Can we please have it also as latest.zip symlinked there, so that users always know how to download the latest.

Starting to deploy now.

Something like this works...

nxt:nrsdownload

http://22k.io/nrsdownload

Alias can be checked too:
http://22k.io/nrsdownload/info

bitcoinrocks

legendary

Activity: 1372

Merit: 1000

I just updated 2 out of my 3 public nodes to 0.4.8 and both are stuck on block zero. What should I do?

opticalcarrier

full member

Activity: 238

Merit: 100

Quote from: laowai80 on December 31, 2013, 05:58:44 AM

Quote from: Jean-Luc on December 31, 2013, 05:57:34 AM

NRS 0.4.8 is ready and can be downloaded from:

http://info.nxtcrypto.org/nxt-client-0.4.8.zip

sha256: ec7c30a100717e60d8abe50eedb23641952847d91ff90b9b05a74ff98d8a4cf2

From now on I will also be posting the latest version number and sha256 as the value of NRSversion alias on the blockchain: https://localhost:7875/nxt?requestType=getAliasURI&alias=nrsversion

Change log:

- Added Transparent Forging, will be turned on at block 32000.
- Memory leak fixed.
- Send money from the browser now also asks for the secret phrase.

There is only one new parameter in the web.xml, myPlatform. It is used to announce your platform - PC, Mac, Raspberry, NeXTstation, VAX, zombie...

The zip file does not contain blocks.nxt and transactions.nxt. Make sure you preserve your own *.nxt files before upgrading!

Can we please have it also as latest.zip symlinked there, so that users always know how to download the latest.

Starting to deploy now.

yes we are working on this, and a common naming system for archived versions, across all the .nxtcrypto.org sites

jl777

legendary

Activity: 1176

Merit: 1134

regardless of whether peercoin can prove that it isn't a depreciating asset (doubtful), I don't think it can be extended beyond its current payment system feature.

Comparing peercoin to NXT is like comparing a compuserve-clone to the internet. Comparing bitcoin to NXT is like comparing compuserve to the internet, except the internet pays dividends and compuserve doesn't

James

P.S. for those who don't know about compuserve http://en.wikipedia.org/wiki/CompuServe

landomata

legendary

Activity: 2184

Merit: 1000

@James

Whats is your current thinking on the NxtAlias Company idea you proposed yesterday?

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

From http://nxtcrypto.wikia.com/wiki/Nxt_History:

Quote

Bitcointalk.org member BCNext creates a forum thread announcing Nxt, and asking for donations of Bitcoin to help fund development of the cryptocurrency.

This is not true, coz he asked for tiny amounts to decide how to split the stake. Development funding is a side-effect. Someone should fix Wiki.

jl777

legendary

Activity: 1176

Merit: 1134

For those of you who think having NXT buyback plan is somehow wrong, I say that is how a lot of major corporations manage their stock price. Ever heard of stock buyback programs?

As a community, we don't want to have large volatility. A certain amount is unavoidable, but if we as a community can create a floor that continues to move up as valuation and market price moves up, then I (and many others) will be able to attract large value investor money into NXT. I am also working on a plan to allow for off book block transactions of NXT. This way a founder can move 1 million NXT without changing the market price at all.

We do need to have some organization layered on top of the wonderful chaos to make sure that the most significant producers are properly rewarded. I trust in math. We can count each feature's transaction fees. We can allocate who contributed to generating those transaction fees by extra work on top of core devs. Each feature oriented group gets allocated a prorata amount of NXT from community fund forging. Peer group can vote on the percentage of allocated NXT each contributor should get.

NXT is for intelligent investors
NXT pays dividends
NXT community increases dividends

1NXT == 1BTC is the possibility here. I have a plan to achieve this. I have described it. With just a small overlay to the current pure chaos, we can have this.

James

NxtChoice

full member

Activity: 238

Merit: 100

Quote from: jl777 on December 31, 2013, 10:36:46 AM

Peercoin might 1% interest, but doesn't it create 1% inflation by issuing new coins to issue the 1%. Also as it is mined that dilutes value so inflation rate seems to be much more than 1%

1% interest minus 1%+ inflation is negative interest and makes peercoin a depreciating asset. I could be wrong about peercoin as I have not studied it in depth, looking forward to hearing from someone who understands it better

NXT pays positive dividend, no inflation. big difference

James

Peercoin is great hybrid PoW/PoS model system. You are right, 1% interest makes the system inflation, but Peercoin tx fee is destroyed, which deflates the system, so it seems to be a complex dynamic system. On the other hand, PoW can be though as the coin distribution process, and in the long term PoS will dominate the system.

The Peercoin forum: www.peercointalk.org

Topic: NXT :: descendant of Bitcoin - Updated Information - page 1985. (Read 2761645 times)