That is correct. However, there is no jurisdiction backing up his claim.
To re-formulate it: why should an existing jurisdiction back up his claim?
Topic: NXT :: descendant of Bitcoin - Updated Information - page 337. (Read 2761645 times)
To re-formulate it: why should an existing jurisdiction back up his claim?
Not exactly. As a shareholder you should be able to vote on such matters. This isn't always the case, as some companies have different classes of equity which have different voting rights, or some companies are majority owned by a few insiders.
That is correct. However, there is no jurisdiction backing up his claim.
If some firm will sell shares in Nxt Asset Exchange and I will buy 20% of the shares. Then how would I know that the same firm won't sell the same shares in another asset exchange platform? Then I will end up with 10% .. 5% .. 1% shares for example in no time.
No way to know this, you must trust them...
It is not so easy after all. Actually, real-world shares enables you to vote for/against certain actions the company will do in the future.
If companies are going to fund themselves via NXT, they need to solve that first.
If some firm will sell shares in Nxt Asset Exchange and I will buy 20% of the shares. Then how would I know that the same firm won't sell the same shares in another asset exchange platform? Then I will end up with 10% .. 5% .. 1% shares for example in no time.
No way to know this, you must trust them...
Not exactly. As a shareholder you should be able to vote on such matters. This isn't always the case, as some companies have different classes of equity which have different voting rights, or some companies are majority owned by a few insiders.
@Wesleyh
Where can I see how much there is left to forge a block?
Where can I see how much there is left to forge a block?
Time? I don't think there is such an API. And I think it's better to hide it anyway, since most of the times it's depressing to see how long it would take
Thoughts?
I agree, it provides more confusion than value.
there is the getForging API that requires secretPhrase
That requires keeping secretPhrase in memory and sending it to the server in plain text, not good.. btw did you see my previous post about preparetransaction (directed at you)?
secretPhrase is always in memory anyways when an account is forging. and yes that API should a POST to an HTTPS url. I did get it, not much else to say though except I still say if an ultralight client has to decode the VPSs response anyways in order to verify it before the client signs it and sends it off, then it may as well just do it all to begin with. And yeah I handt considered the mass of other APIs that VPSs will have to serve, which makes it even more desirable IMO to be able to limit some things. For example, if a server starts to get overloaded, it may want to stop serving ultralight clients but still take in signed transactions from light clients
I'm talking about client side in memory (in the user's browser in my case).
As I said, prepareBytes also validates server side. It checks to see if the asset you are placing an order for exists, if you have enough money to pay for that asset etc.. If you try to sell, it checks to see if you have enough if the asset exists, if you have enough of the asset to sell of, etc.. As you can see, prepareBytes takes just 1 API request, whereas another client would have to do multiple (check if asset exists, check if enough of asset to sell, etc). If the client does not do error validation this it will always think it returns successfully (broadcastTransaction does not verify).
So I am dumbfounded as why you would want to disable this, since it may actually result in _less_ api calls. Also I think there should be no made up words like "ultralight" and "light" clients.
If some firm will sell shares in Nxt Asset Exchange and I will buy 20% of the shares. Then how would I know that the same firm won't sell the same shares in another asset exchange platform? Then I will end up with 10% .. 5% .. 1% shares for example in no time.
No way to know this, you must trust them...
Hello, my name is James.
I rebooted and feeling much better
Thanks to all the generous donators!! I am feeling very optimistic today.
For all the controversy the "coin that shall not be named" has created, at least people now are seeing NXT for what it can do. The idea of a middlecoin that pays out in NXT is a very good one. https://bitcointalksearch.org/topic/m.5694336
I authorize 20,000 NXT from NXTcommunityfunds for this bounty.
I would also like to authorize 50,000 NXT to wesleyh for his fantastic web GUI. With matching amounts up to another 50,000 NXT for any directed donations to NXTcommunityfunds for him. Just send donation to 13776816462073143763 , post txid, amount and that its for wesley.
We need more testing. The first of the testing bounties:
antanst should get 10000 NXT for crashing testnet
l8orre should get 5000 NXT for making freerider that will help others crash testnet
James
I rebooted and feeling much better
Thanks to all the generous donators!! I am feeling very optimistic today.
For all the controversy the "coin that shall not be named" has created, at least people now are seeing NXT for what it can do. The idea of a middlecoin that pays out in NXT is a very good one. https://bitcointalksearch.org/topic/m.5694336
I authorize 20,000 NXT from NXTcommunityfunds for this bounty.
I would also like to authorize 50,000 NXT to wesleyh for his fantastic web GUI. With matching amounts up to another 50,000 NXT for any directed donations to NXTcommunityfunds for him. Just send donation to 13776816462073143763 , post txid, amount and that its for wesley.
We need more testing. The first of the testing bounties:
antanst should get 10000 NXT for crashing testnet
l8orre should get 5000 NXT for making freerider that will help others crash testnet
James
Hey james, thanks a ton for your recommendation! I haven't asked for it, but it would of course be fantastic to receive this amount as I have put a ton of work in my client already
Thanks again.
@Wesleyh
Where can I see how much there is left to forge a block?
Where can I see how much there is left to forge a block?
Time? I don't think there is such an API. And I think it's better to hide it anyway, since most of the times it's depressing to see how long it would take
Thoughts?
I agree, it provides more confusion than value.
there is the getForging API that requires secretPhrase
That requires keeping secretPhrase in memory and sending it to the server in plain text, not good.. btw did you see my previous post about preparetransaction (directed at you)?
secretPhrase is always in memory anyways when an account is forging. and yes that API should a POST to an HTTPS url. I did get it, not much else to say though except I still say if an ultralight client has to decode the VPSs response anyways in order to verify it before the client signs it and sends it off, then it may as well just do it all to begin with. And yeah I handt considered the mass of other APIs that VPSs will have to serve, which makes it even more desirable IMO to be able to limit some things. For example, if a server starts to get overloaded, it may want to stop serving ultralight clients but still take in signed transactions from light clients
there is the getForging API that requires secretPhrase
Has the new version got getNextBlockGenerators?
# curl -sk3 https://localhost:7876/nxt?requestType=getNextBlockGenerators
{"errorCode":1,"errorDescription":"Incorrect request"}
looks like no
so lets have a competition, you will have most of views on the video in 7 days, will win 7 Nxt
I have won
It's value is 0 per se; only thing that is generating revenues are tx fees and they are distributed in accordance with amount of coins; but if there would be a fund that would be funded by someone (large stakeholders for example, in the begining) that would allow for, let's say Infrastructure committee, to intervene in AE and offer some NXT's for this auxilary coin, and with this to bring it's value above 0, and this would automaticaly attract more people/nodes.
If the aim is to have lots of nodes and we are even fine with centralized and non-trustless solutions, it would be cheaper to let InfCom manage or let InfCom pay people to manage nodes. Cheaper, much easier to manage and as centralized and non-trustless as the above.
@Wesleyh
Where can I see how much there is left to forge a block?
Where can I see how much there is left to forge a block?
Time? I don't think there is such an API. And I think it's better to hide it anyway, since most of the times it's depressing to see how long it would take
Thoughts?
I agree, it provides more confusion than value.
there is the getForging API that requires secretPhrase
That requires keeping secretPhrase in memory and sending it to the server in plain text, not good.. btw did you see my previous post about preparetransaction (directed at you)?
Honeymoon period is over, now for the hard yards (distributed unevenly, were decentralised after all)
If some firm will sell shares in Nxt Asset Exchange and I will buy 20% of the shares. Then how would I know that the same firm won't sell the same shares in another asset exchange platform? Then I will end up with 10% .. 5% .. 1% shares for example in no time.
there is the getForging API that requires secretPhrase
Has the new version got getNextBlockGenerators?
@Wesleyh
Where can I see how much there is left to forge a block?
Where can I see how much there is left to forge a block?
Time? I don't think there is such an API. And I think it's better to hide it anyway, since most of the times it's depressing to see how long it would take
Thoughts?
I agree, it provides more confusion than value.
there is the getForging API that requires secretPhrase
If there is a chance you can add it, I think it's the best if you do it in the 'Blocks' sector.
Quote
When you click at an account number you get information (Transactions, Assets, Aliases etc.) Maybe it is useful to add a 'Send' button? then you can send some NXt directly after seeing the add info of the account.
I am assuming that it is possible to configure firewalls to only accept incoming connections on specific ports to a list of specific IP addresses.
Could somebody confirm (or deny) this assumption?
I want to create a set of guardian servers that are the only ones that accept connections from random clients. The servers that actually do the "money" work, would only accept incoming connections from these guardian servers. This would isolate the pool (and multigateway) servers from the internet and I think provide good protection.
This way, we can make doing a Ddos attack require attacking all of the guardian servers. Since these guardian servers really only need to run a very small validation and relay layer, there is no reason the work of the guardian servers couldnt be spread across a large number of servers. Not quite fully decentralized, but a lot less vulnerable than having a single pool server.
James
Could somebody confirm (or deny) this assumption?
I want to create a set of guardian servers that are the only ones that accept connections from random clients. The servers that actually do the "money" work, would only accept incoming connections from these guardian servers. This would isolate the pool (and multigateway) servers from the internet and I think provide good protection.
This way, we can make doing a Ddos attack require attacking all of the guardian servers. Since these guardian servers really only need to run a very small validation and relay layer, there is no reason the work of the guardian servers couldnt be spread across a large number of servers. Not quite fully decentralized, but a lot less vulnerable than having a single pool server.
James
yes, any hardware based firewall or freebsd/linux pf/iptables can do this
@Wesleyh
Where can I see how much there is left to forge a block?
Where can I see how much there is left to forge a block?
Time? I don't think there is such an API. And I think it's better to hide it anyway, since most of the times it's depressing to see how long it would take
Thoughts?
I agree, it provides more confusion than value.
there is the getForging API that requires secretPhrase
If we agree that it is no ordinary coin for the above reasons, then we should consider Ricky's point about NodeCoin altering the very fabric of Nxt; and not just brushing it aside as just a coin anybody can create on top of Nxt.
Personally... I do view Nodecoin as just a project/asset/coin... but let me make one thing clear... IF the intention of "Nodecoin should be redeemable for accessing services (DAC, NxtCash, whatever)" was to exclude NXT from being used as well... then it is definitely a NO GO.
+1
My understanding from readin james' posts is the NRS client runs alongside nodeminer.
So John Smith will forge a block once a year but in the meantime gets 1 nodecoin a day. Lab rat effect. Nxtminer can't be run without forging at the same time.
So finaly,
if I understand correctly, "coin that shall not be named" is supposed to be used as tool for fine-tuning financial incentive for people who would run nodes, but don't have enough NXT's to actually forge anything in reasonable amount of time.
It's value is 0 per se; only thing that is generating revenues are tx fees and they are distributed in accordance with amount of coins; but if there would be a fund that would be funded by someone (large stakeholders for example, in the begining) that would allow for, let's say Infrastructure committee, to intervene in AE and offer some NXT's for this auxilary coin, and with this to bring it's value above 0, and this would automaticaly attract more people/nodes.
Because "coin that shall not be named" is a plain asset it's value is totaly irrelevant for NXT itself.
AE is a train carrying some cargo. Running a train costs money (NXTs), no matter what the cargo is - gold bars or horse sh*t...
Either way, type of cargo is irrelevant for the costs (and value of NXT) of usage of the train itself... only thing that could change cost of the ride is ability to deliver cargo to destination more efficiently than some other transportation mode...
if I understand correctly, "coin that shall not be named" is supposed to be used as tool for fine-tuning financial incentive for people who would run nodes, but don't have enough NXT's to actually forge anything in reasonable amount of time.
It's value is 0 per se; only thing that is generating revenues are tx fees and they are distributed in accordance with amount of coins; but if there would be a fund that would be funded by someone (large stakeholders for example, in the begining) that would allow for, let's say Infrastructure committee, to intervene in AE and offer some NXT's for this auxilary coin, and with this to bring it's value above 0, and this would automaticaly attract more people/nodes.
Because "coin that shall not be named" is a plain asset it's value is totaly irrelevant for NXT itself.
AE is a train carrying some cargo. Running a train costs money (NXTs), no matter what the cargo is - gold bars or horse sh*t...
Either way, type of cargo is irrelevant for the costs (and value of NXT) of usage of the train itself... only thing that could change cost of the ride is ability to deliver cargo to destination more efficiently than some other transportation mode...
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