I am quite surprised at some people who are worried that nodecoin will take over NXT. I am writing software to make it look like a coin, act like a coin and it seems I've done a pretty good job
I plan on using my 180+ servers to implement Ddos protection and guarding of the pool server and multigateway servers from direct contact with random clients. While this wont be as good as a 20,000 node NXT network, it should pose quite a barrier to Ddosers who want to disrupt the pool server or multigateway servers.
Since I will be incurring real world costs for the servers to host pool servers and one of the multigateway servers (need to find two non-USA hosts for the others) and I will be getting 1% of nodecoins mined for pool costs and 1% as royalty, it is in my interest to make nodecoins worth more than nothing. After all, if I cant make it self-funding, who will pay for the 180+ servers? Therefore, I liked the suggestion of pricing multigateway services and any other services that the servers I am paying for provide, in nodecoins. Assuming a .01NXT value for a nodecoin, the 2% will generate around 2000 NXT per day. This will be far short of covering the server costs, but at least its a start. nodecoin is a private token that just happens to reward people who operate NXT nodes and can be used for multigateway services. Already there is an account that is trying to get more nodecoins by submitting once per second. I need a way to prevent spam and charging nodecoins is a good way. For normal usage, all the nodecoins you need to be able to use the services will be obtainable just by running nodeminer.
It is clear that nodecoins are very polarizing, I might as well call it a globalwarming-coin!
Like it or not, if ~10% of the people run nodeminer, I estimate EVERYONE with an active node will get their nodecoins. Around 5 per day! just imagine the giant market dumps the big holders will be able to do. A sell wall of 50 nodecoins. The horrors.
nodecoin is a subset of multigateway, with a simple PoN (proof of node). Anybody can do this in a day or two like I did. nodecoin cannot replace NXT. That is like saying that Delta airline bonus miles will replace USD. At 100,000 coins per day, it will take 10,000 days to be fully released, thats 27 years. You can believe the people that claim that somehow nodecoin will magically replace NXT even though it is built on top of NXT, or you can believe me.
A few weeks back there was all this angst and worry that with transaction fees dropping there would be no incentive to forge. I said I know of an idea that will fix that. I did.
James
P.S. If somebody wants to pay me to kill nodecoin all you have to do is pay the server costs.
