Topic: NXT :: descendant of Bitcoin - Updated Information - page 358. (Read 2761645 times)

So then why has my original suggestion been ignored about having nodecoins be redeemable for Nxt like a points/airline miles program? That way nobody disputes that the value
nodecoins have is in that it can increase my Nxt stake. The only problem I see is how to donate this fund and whether one of the committees will fund this. Any funding for this
will only be temporary because I can't imagine it would take more than a year for Nxt to be successful enough to not need nodecoins for incentive to forge.

My big concern is that people will come to see speculation in nodecoin to be more important to them than the value of NXT itself.   If this happens, we are screwed.  At that point NXT is just the fee required to access  AE and make vast fortunes running up the price of nodecoin they buy directly with BTC.  It is now in the speculator's interest to have/drive the exchange fee (NXT itself) as low as possible.  What is the motivator in this scenario to have my big stake in NXT retain a high value instead of being driven down to a low value?

+1, you guys need to take a step back for a second, nodecoin will have a positive effect on Nxt.  It encourages people to run a node, why is that bad?  It's a utility coin and it had the potential to bring a couple thousand new users to Nxt, which is great.  It's an accomplishment that James was able to create a mine-able coin in AE, that is awesome.  I think many people are greatly overestimating the effect it will have on Nxt.  To get anything done with Nxt core, you will need to spend Nxt, so people aren't going to circumvent the Nxt core with nodecoin.  

I still think charging nodecoin for services like DAC is a great idea.  Anyone using DAC will still be spending Nxt in the end.  It gives people incentive to run a node, which is incredibly simple, and they will feel like they are accomplishing something and "part of the Nxt club".  It's more of a novelty, but would be cool to make people run a client for a while in order to use DAC, or NxtCash. To say it's bad for Nxt just doesn't make any sense to me.   If it doesn't work out and no one mines it or uses it, so what, at least we know how to create a mine-able coin in AE.

Can anyone tell me why I get nodecoin even though I'm not running the nodecoin script?

I should have local (trustless) signing online tomorrow (no password sent to the server). A big thank you to CFB, Antonios, BloodyRookie and Jaguar0625 for all their help with this

I support Nodecoin and jl777 !

I forgot about the marketing aspects. Maybe some marketing guys who understand human behavior a bit would like to comment on whether NXT becomes more or less attractive, if they automatically get bonus coins just for running NXT. Do people prefer to get free stuff or do they hate it?

Does this confuse or enhance what NXT is? Does it improve or degrade the user experience?

James

There's a saying that when you're up to your ass in alligators, it's hard to remember that you originally intended to drain the swamp.   That's what we've got here.  

The original problem is that everybody eventually comes to the realization that forging NXT isn't getting them rich like they expected Bitcoin mining would do, in fact, if they've got under 2000 NXT, they probably won't even mine a single block in a year (if all NXT owners had their client open and were forging too).   This is a disappointment and demotivator to them, and understandably so.  But hey, that what PoS as implemented by NXT is.  Everybody gets the same ROI / interest rate on their stake, and if you ain't got much stake, your equal share of the pie is gonna be really, really small.  

The original BCNext (and I believe correct) solution to the problem is to realize that NXT doesn't need super expensive computers to keep the node network going, that people will keep their clients open and bear the minimal expense as an altruistic item on their part, that instead of profit motive to run NXT we have community spirit.

Some people feel that a bigger motive / incentive is needed.  This is very noble and I am not cutting them down.  But I come back to my previously stated BCNext's First Law - For every attempt to create a new incentive in the zero-sum NXT system, an equal and opposite disincentive is created somewhere else in that system.  

Money in NXT is not created out of thin air every few minutes like it is in BCT.  There is only so much and if it goes into one person's pocket, it came out of somebody else's pocket.

So here's the bottom line question.  If nodecoin is created as a new source of value to motivate people to support the NXT network, WHOSE POCKET DID THIS VALUE COME FROM IN THE FORM OF NXT?