Topic: NXT :: descendant of Bitcoin - Updated Information - page 63. (Read 2761629 times)

www.nxtforum.org

Despite the long thread, he has been told this repeatedly. He just keeps posting the same thing over and over again, along with why ripple is better.

I know this thread is very long, but this question has been answered multiple times.

It would take an extremely long time to accumulate that amount of NXT.  You would need 51% of the NXT in circulation (510,000,000 NXT).  When TF is implemented, you would need 90% of the NXT in circulation (900,000,000 NXT).  Also, the price of NXT would increase because you would be removing vast sums of NXT from the market.  It wouldn't matter if you purchased it overnight or over years.  The price would increase because you would be decreasing the amount of NXT available for sale.

This type of attack would be extremely expensive to carry out.

This question has been answered a million times. Since only big holders get to forge most often, only a few big holders are needed. They have self interest to not only forge, but be honest forgers, as anything bad and  dishonest (like double spending)  would hurt nxt credibility, which would result in killing their own investment. That's proof of stake at work.

Profit / Loss 24h: +200,319,249.69 %

invest $1 and end up with $2,003,192

Yeah, you're probably right.

Best ones I could find:

Account: 14153983471900939687
Balance: 191
Block: 17485034030981325811 (height: 68766)
Fee: 0

And with nonzero fees:

Account: 8822726856159600830
Balance: 462
Block: 1772579134248556806 (height: 50972)
Fee: 2

I think 14153983471900939687 would have won the forging competition at forums.nxtcrypto.org?

If only this was true.....

I was about to leave for good, swear to god was just about to delete my account, but since you don't want to drop it;  Yeah, I thought it was fucking rude to not include the fee. I never asked for an escrow, I offered to go first.  When I sent my part I didn't deduct the fee from the total.  I did what any normal person would do and I included the fee. It's just proper etiquette anyone with common sense would know to do. No urgency? Why not? I have nothing better to do than sit around all day waiting for six confirmations so I can store it and and be done with you?  You are the the kind of guy who asks someone for a favor, doesn't even tip them for their service and then chinches the guy you are making a transaction with on a six cent fee that shaves hours off the whole thing?  You're like one of those scumbag Steve types. Just a total asshole. There's no cure for what you have.

dont worry about post mining BTC era. I will make BTCnodecoin to make sure to destroy BTC also

James

I like it!

This is why it is important that NXT is an ecosystem, not simply a currency. The end-goal is not to have the highest price possible, but to have as many services ontop of NXT sending transactions. PoS/TF is ideal for this - PoW is simply too slow to accommodate a large transaction bandwidth. If one day we do in-fact achieve 1000 TPS (of course, a lot of work to get there), that's 60k transactions per block. And each of these transactions have a fee.

Also, Bitcoin mining is only profitable because of the gigantic subsidy. Take a look at this (the latest Bitcoin block):

https://blockchain.info/block-index/382205/000000000000000073a67bd8f462faaa3ea9f18dda19d44976ba718be9d442ed

The subsidy is 20,600% larger than the transactions fees in the Bitcoin network. The problem with this subsidy is that Bitcoin holders are paying for it in the form of huge inflation (10% per year currently). And eventually, Bitcoin will have no subsidies, so it will have to be able to function off of fees as well.


Minimum balance had been discussed also. At what point do you draw the line? 100k? Then "poor NXTers" certainly cannot forge. Who controls this line? Will this line scale with price? (not possible via a decentralized method, by the way) Anyways, no matter where you draw the line, people will make as many accounts as their wallet allows.

A single person with 10000 accounts forging on 10000 computers is just as bad as having all of them on one computer. That one person is still in control of those 10000 nodes, which can all be relaying malicious information to other nodes. This is why hallmarked nodes exist to combat zombie nodes (there was a zombie attack in NXT's early days).

I think if we look back in the history of this thread, we will find this exact discussion somewhere. There should not be a gamable solution implemented into the core. This is why something like nodecoin can built on-top of NXT, so even if it is gamed, NXT-core will remain unaffected. Stake (NXT), which is guaranteed to be non-gamed, should be the basis for all other actions.

Pandaisftw

Is there a market for Aliases?

Are you referring to me buying all your Nxt and then you continuing to post here for some reason?  You act like you belong here.

We worked it out dude, now you wanna come in and stir shit up again?

Well the way I envision it, the entity could accumulate Nxt slowly so as not to set off any price raising alarms. Just have thousands of different accounts slowly buying it up til one day, POW right in the kisser.

Thanks for the answer though. I hope it all works out. Good luck.

isn't this beautiful  

i need testnxts! please!
13647442964959355584

Man, losing respect for whiners in this thread, he sent exactly what was sent to him, there was no urgency in the transaction. What's the point in bitching about it?  Brians Nxt is now in the hands of someone actually contributing something, that's the point.

Layoff, he did this for free as a favor to me, I donated the Nxt from Brian.