Topic: NXT :: descendant of Bitcoin - Updated Information - page 380. (Read 2761642 times)

Forging is not the same as running a node. Forging is just an unlocked client on your computer that can generate a block. A node is bigger than that and is supporting the whole Nxt-network. These are two different things.
Nodecoins cannot be generated with forging.

LTB is asset issued on XCP protocol, nodecoin is mined by nodes,much like POS vs POW.

- James, you are AWESOME!

- thank you for the information!


- TechDev-Com, because it motivates people to run their own nodes, and allows Infr-Com to focus on others things.

As soon as tx fees are .01 NXT, yes we can offer standard services for nominal nodecoins that anybody could earn just by running nodeminer. More specialized services would require some purchasing of nodecoins on AE

These are some great ideas!

James

correct. It is nodecoin, not stakecoin

The coin that is allocated in proportion to the number of other nodes that you are an active peer for. That was the easiest metric I could come up with that seems to correlate to adding value to the NXT network. After all, if a node is an active peer, then it must be useful. The only way to get more nodecoins is to setup another NXT acct, node and IP address, which is another node! I think this is fairer than the NXT clones and it should have more value than NXT clones. Then again Aurora coin proves I know nothing about crypto valuations...

I am not sure, but I would imagine that hallmarked servers would be active nodes more than non-hallmarked nodes, so maybe the bigger stakeholders would be able to earn more nodecoins, but only if they created active hallmarked nodes.

James

rewarded nodecoin is uncorrelated with the holding Nxt of Nodes?

Yes  https://bitcointalk.org/index.php?topic=510318.new#new

We shouldn't be looking at Nodecoins as a buy and sell commodity.  We should be looking at Nodecoins as a Nxt Utility coin.  For example.  If you want to use the DAC, you have to send 10 Nodecoins to retrieve Doge address, then you can transfer Doge to DAC.  If you want to use NxtCash for Mixing you have to send 10 Nodecoins to retrieve NxtCash address, then send Nxt for mixing....and so on.  We have some really great features that will be built on top of Nxt and we should charge users Nodecoins to use those features.   That will give them value.

here has been a Titanium coin
https://bitcointalksearch.org/topic/pre-ann-ttn-titanium-465727

Just found http://ltbcoin.com/discussion/2/ltbcoin-and-the-start-of-private-network-tokens

LTB networks version of nodecoin. Built on top of counterparty, but essentially a very similar concept. Use the coin to reinforce behavior desired by LTB.

The real question is what the exchange rate between nodecoin and ltbcoin will be

James

Does anybody know (or have experience with) https://moolah.io/

Its like a nitro button on those really fast race cars

However, we need to have a large base of miners who already have at least one node setup so when the nitro boost kicks in, they will be ready to get a bunch of VPS instances running on different IP addresses. I think if we had 100,000+ different IP addresses all running NXT nodes, that would be quite a powerful thing.

In addition to nodecoin, I have another unnamed coin that will put all the miner's computing power to good use and will have a direct monetization method that will allow NXT (or BTC or even fiat assets) to flow through to the new coin as dividends. This coin will share a lot of the codebase and maybe even infrastructure as nodecoin and it will be the first crypto that has actual intrinsic value due to real world dividends.

Everything I am working on is part of a larger plan where all the different parts reinforces each other.

James

agree.
Nxt first is a coin,then ecosystem.

specific instruction,I will have a try.

Hmmm... How could such a simple thing have such a widespread impact? What have I created?

The nodecoin is out of the lab, and clearly it has resonated strongly with some primal need for everyone to get tangible positive feedback. I expected it would work as originally intended, but I didnt expect such a strong amount of emotions I am seeing.

Anyway, the nodecoin pool server is still running and other than my lack of Windows support (sorry bill), and lack of POST support, i didnt see any other bugs. So I will continue on the following development path:

1. Add asset inventory verification (applies for multigateway also)
2. Add Ddos protection of pool server using guardian servers (applies for multigateway also)
3. Save pool earnings state to recover from in case of pool server restart
4. refactor parsing code (applies to all my projects)
5. release nodeminer beta, convince clientdevs to incorporate nodeminer into their client as checkbox option

6. restructure multigateway to handle fragmented multisig wallets for deposit
7. add queue handling for all the internal multigateway paths
8. refactor multigateway to allow easily adding new bitcoind forks, maybe even use a little oop
9. install half a dozen bitcoind forks and add support for all of them in a day (this is my goal as far as time to add new bitcoind fork)
10. release multigateway for brutal testing and take a weekend day

James

No need for exchange,Nxt AE will hold it.

There is no need for a gateway for any AE based NXTcoins like nodecoins, just a bid in AE will do. The only path from nodecoins to any real value is through NXT, so I dont see how nodecoins could impact the price of NXT.

Current total payout is 100 nodecoins per block for everybody combined. These days of people getting 500 nodecoins per hour are just for testnet or during initial launch on mainnet. When there are thousands of people getting nodecoins, you will be lucky to get 10 per hour.

It probably makes sense to think of nodecoins as ~NXT cents. If the instant gratification of getting nodecoins make a lot more people forge, then they will statistically get 7 times more real NXT than nodecoins at .01 NXT value.

If there is ever a crisis and we need a lot more nodes, we just need to put a 1 NXT per nodecoin bid in AE (144,000 NXT per day!) and we will get new nodes like crazy. It gives us a way to very quickly add network resources. Also, in this event all the crazy nodecoin mooners will have their aurora dreams come true

James

I am not an economist.

nodecoins value is probably less that .01 NXT, but more than .0001 NXT

I dont see how the lack of value for nodecoin could affect NXT. It is just an asset that adds no value if it is deemed to be worth 0. However, if it does gain traction as a inside NXT tipping currency, or a altruistic network supporting donation method, or crazy nodecoin collectors dreaming of the moon, then whatever value it has will actually increase the value of NXT.

The sum value of all the NXT assets will be reflected in the value of NXT.

nodecoin should be fun, not so serious. Everybody can easily get some, but nobody can get a lot (unless evilknievel has cracked nodecoin mining too). I dont think dumping can really happen. nodecoins are the most egalitarian crypto ever made

nodecoins give instant feedback to people for running a NXT node. This was raised as a problem a while back. I said I can fix it. Based on the incredible amount of feedback and interest, I think we can say that nodecoin does indeed do what it is designed to do, reward people for running a node and giving them instant feedback. At .01 NXT valuation, they are statistically earning around 15% of actual forging (which they will still be doing!), but it is 100 times more fun to see more and more and more nodecoins every block.

James

Is there something plan to group asset by categorie in the wesley client (e.g. make some options to group asset by alphabetic letter, search button for asset)?
 
I guess that only after a week or so once AE get live, it will be very difficult to navigate the various asset with the current Wesley client. Maybe it is a good idea to plan this ahead.