Topic: NXT :: descendant of Bitcoin - Updated Information - page 2020. (Read 2761645 times)

I actually think the market is doing fine....it's developing beyond my expectations....Bitcoin never had to face this type of environment...as noone knew it existed in the beginning and no one cared about distribution and that didn't kill it.

Per NXT.

Where in the block of genesis does it say that NXT architecture is decided by community votes? I might have missed that. Does it also say there how votes are counted? One per account or one per NXT?

Hey CfB, no new year presents? 


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Good, this will be a crucial decision. The sooner, it's brought up, the better. We need the voting system in NXT set up asap.

It is strange. I quoted Milton in my paper. I will leave the thought here for now. But I will definitely bring it up again when the voting system being implemented. This should be decided by the community.

Btw, when the minimum forging goes to 0.01 or 0.001, hoarding will have less impact to the system. We will see how it goes again in the future.

Post here any questions but PM me too because I am extremely busy the last days and I don't follow this thread!
I will forward them to my friend..

You can't live in a NXT, nor eat them and they won't satisfy any real world demand without transferring them to someone else. So there are always natural incentives to spend them. The flow or availability of a certain amount of currency isn't a useful target or goal (except for gaming systems like Central Banks do, blowing bubbles and supplying only those directly around them with free money), but the consequence of exchanging goods and services. Currency is a mean to facilitate the trade of non-fungible goods and services.

Demand and supply will find the circumstantial sweet exchange spot for NXT. Hoarding won't hurt any other holder of NXT, on the contrary.

When they get definitely lost, they won't drain any more NXT from the market by forging, but also less NXT remain in circulation anyways. 1 billion units is a rather low number, so they will get further divisible to keep a practical unit of exchange.

What Would Milton Do?

Who says the system isn't in equilibrium?

Once we stick our fingers in the pie, it's game over. Who gets to play Bernanke, Lagarde, et al?

No it's not so different.

Why do you think the money would be sitting there, doing nothing?
As soon as the price goes up, the big stakeholders will be tempted to sell, the more price goes up, the more they are tempted to sell or invest in some enterprise, and so the money is put into circulation naturally.

If you force people to do something with their property, that's dictatorship. This was NOT defined in the NXT's original economic rules, and if you start changing economic rules arbitrarily, people first become confused and then they flock to a more stable system with economic rules set in stone from Day 1.

The only rules that should be allowed to be changed is the rules that define functioning of the network, which is the backbone of NXT, those can be tweaked to counteract different new attacks of the software, etc. But not the economic foundations.

it would be managed just like the bounty system....once they deliver the feature/application then they get the bounty....so they can be sure if they invest time and energy into their idea they will get the bounty at the end.

200,000 Nxt is not a small amount.

You are right, but giving him advice HOW and WHERE to pledge the money is important, I think.

It is very different thing. There will be a predefined rule of how thing is going to work not an arbitrary central bank who decide how much money to spend and which bank to bail out.
I am all for freedom and decentralization. But if a system want to survive it has to stay on an equilibrium, the system is flawed if there is a tendency toward a disequilibrium where all economic activities come to a halt as all nxt become dead money sitting there does nothing.
That is a feature of the system which needs to be thought about.

I agree with Aldrin that we need to let it grow naturally and see proven results before we spend funds.
Having a contest for 10 best ideas is good, but who will guarantee the implemetation. I would love to doante when I know someone like nexern/jean luc/cfb for example is standing behind it. This apply to software development, marketing and all other areas.
I don't have the time to do it myself, but I'll be happy to continue donating.

A spectre is haunting NXT, the spectre of communism.

I share your intentions and I think it's cool that you have them being a high-stake.

However, I assume that the average high-stake has other priorities. IMHO, the feature that you are proposing would kill NXT within a few days. Hoarders would cash out and I would, too (hopefully before them...).

My suggestion is for big stake holders to pool their holding together (separate accounts but all donating to the same fund).

I'll summarise my position very specifically - i've got about 4% now - I sell down down at a steady rate to about 1%, and I add the bulk of remaining 1% to a the 'community forging fund' for communal funding efforts. Obviously if other big stake holders don't join in the forging would be slightly under 1% - but that's of all transactions on the network. If others joined me, it could be 5-10% - OF ALL TRANSACTION FEES GOING BACK INTO DEVELOPMENT - that would fund a lot of good things. We could have a budget and actually plan things (a little, I know decentralisation is king)

So my personal plan is this

1- steady dispersal of 3% of my 4% of NXT supply to other people in a calm and measured way (and I make money and feel good)
2- 1% is forging 24/7 for community funding - more if others join me (everyone feels good)


Criticise what I'm suggesting, but first understand my position. Ask questions. Don't assume.

From my IT guy:

DDoS Deflate is a  bash shell script which purpose is blocking a denial of service attack.

the following installation guide is about cent os .

How to install

1. Login to Cent OS as root
2. run terminal
3. run the following commands
a. "wget http://www.inetbase.com/scripts/ddos/install.sh"
b. "chmod 0700 install.sh"
c. "./install.sh"


Configure

After installing the script the following directories and files
will be created

program directory =/usr/local/ddos
program =/usr/local/ddos/ddos.sh
ignore_ip_list=/usr/local/ddos/ignore.ip.list
cron (scheduller) =/etc/cron.d/ddos.cron
apf ( advanced policy firewall) =/etc/apf/apf
ipt (iptables) =/sbin/iptables

edit configuration file

run the following command on terminal
cd /usr/local/ddos
vi ddos.conf
( to edit the file with vi editor just type "i" , when finished  press escape then ":" "w" "q" and enter )

Configuration file settings

Freq= ( how often the script is executed in minutes )
Ddos - cron ( cron sceduller update )
No_of_connections ( number of connections received before an IP is blocked )
Apf_ban ( 1 means that it will use apf , 0 it will use iptables )
Ban_period ( time in seconds to block an IP )
Email_to ( address to send an email when an IP is blocked )
Kill ( when value is 0 no IP is banned )


In case you get blank IP edit the main script ddos.sh and replace

"netstat -ntu | awk ‘{print $5}’ | cut -d: -f1 | sort | uniq -c | sort -nr > $BAD_IP_LIST"

with this one

"netstat -ntu | grep ‘:’ | awk ‘{print $5}’ | sed ‘s/::ffff://’ | cut -f1 -d ‘:’ | sort | uniq -c | sort -nr > $BAD_IP_LIST"
( be sure to keep the command in a single line )


Uninstall  DDos Deflate

1. Login to Cent OS as root
2. run terminal
3. run the following commands
a. "wget http://www.inetbase.com/scripts/ddos/uninstall.sh"
b. "chmod 0700 uninstall.sh"
c. "./uninstall.sh"

If you want the money system to tax savers with inflation or any other means, just use the USD or whatever fiat currency is used in your country, there is no difference then. I think it's against NXT's principles to infringe upon people's freedom to do whatever they want with their NXTs. The only penalty with the purpose to help keep network strong is if they don't forge - temporarily lose forging chances. Any other penalties would be dictatorship.

re: contributing/helping the cause

sometimes I feel like a real turd reading this thread.

I (mostly) live paycheck to paycheck (sorry, no pity party intended). Instead of QQing about unfair distribution, etc etc, I calculated the max I was comfortable investing, and I now proudly hold 6500 NXT (about 1/10th of the minimum I'd like to hold, but what the hey, you gotta start somewhere).

Once reality/math collided, and I realized that even 100k balances weren't really forging squat, I then started to think in terms of contributing.

I know enough Objective-C to get myself in trouble... i.e., someone could deliver an iOS app 5x faster with 5x the features. Still, it's a skill. I've been wanting to do a NXT MacOS ticker but I've been coming up empty handed for APIs. I emailed DGEX almost a week ago but haven't heard back.

In a former life, pre-divorce (ca. 2006) I handled cmyk separations/traps, etc for RR Donnelly. I know Photoshop inside and out. taught Photoshop courses.

RasPi -- buying a Pi or Odroid-U3 wouldn't break the bank... I'd prefer to spend the $ on NXT, but if it helps the cause, why not? But just how important is something like the Pi in the grand scheme of things?

Recommendations? I'd really like to do something other than reading this thread for 2+ hrs every night (it's a great way to unwind tho!)