NXT :: descendant of Bitcoin - Updated Information - page 727.

EvilDave

hero member

Activity: 854

Merit: 1001

Quote from: EmoneyRu on February 23, 2014, 01:15:10 PM

Quote from: EvilDave on February 23, 2014, 01:10:56 PM

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?
Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

First part is sooo easy.

I love having smarter people than me around here.
Looks like 40+ donations, from 1000-5000 NXT. Nice one....!

xyzzyx

sr. member

Activity: 490

Merit: 250

I don't really come from outer space.

Quote from: pinarello on February 23, 2014, 01:08:10 PM

who ever it is he is spreading the wealth, think he is filling orders at bter also.

CHEAP NXT but not for long...

Damn. I never have BTC at the right time.

xyzzyx

sr. member

Activity: 490

Merit: 250

I don't really come from outer space.

Quote from: marcus03 on February 23, 2014, 12:43:58 PM

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

You might want to keep an eye on Low End Box for deals.

Opticalcarrier/forkedchain recommends BudgetVM.com's 1024MB VPS for $4.99/month for setting up low-cost nodes. I pay to keep the lights on for one of his VPSs at BudgetVM (xyzzyx.vps.nxtcrypto.org) and it was $4 a month for a full year paying up-front.

EmoneyRu

hero member

Activity: 600

Merit: 500

Nxt-kit developer

Quote from: EvilDave on February 23, 2014, 01:10:56 PM

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?
Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

First part is sooo easy.

dave5555

newbie

Activity: 52

Merit: 0

Quote from: xyzzyx on February 23, 2014, 01:07:14 PM

Quote from: EvilDave on February 23, 2014, 01:03:41 PM

Quote from: dave5555 on February 23, 2014, 12:43:47 PM

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

http://www.youtube.com/watch?v=JF1chLj1fro&t=18s

Nice +1

EvilDave

hero member

Activity: 854

Merit: 1001

Quote from: zorke on February 23, 2014, 01:05:23 PM

Thanks once again 7017504655955743955

This is really an awesome community!!

Any one want to count up how many guys/gals/whatever have been touched by 70175xxxx today?

Maybe we can all send her/him a big bunch of flowers or some beer.......thx again,btw.

daysi

newbie

Activity: 14

Merit: 0

Forging is future : https://nextcoin.org/index.php/topic,3652.msg34665.html#msg34665

Grin

pinarello

full member

Activity: 266

Merit: 100

NXT is the future

who ever it is he is spreading the wealth, think he is filling orders at bter also.

CHEAP NXT but not for long...

EmoneyRu

hero member

Activity: 600

Merit: 500

Nxt-kit developer

Quote from: marcus03 on February 23, 2014, 12:43:58 PM

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

I have 0.8.0e @ DSVPS.1. 12 hours uptime (updated from 0.7.6), 151/512Mb RAM & 205/256 Swap used. Works fine.

P.S. got 2k too. Thanks Wink

igmaca

full member

Activity: 168

Merit: 100

Quote from: rickyjames on February 23, 2014, 12:56:51 PM

Quote from: igmaca on February 23, 2014, 11:26:09 AM

Quote from: rickyjames on February 23, 2014, 09:52:52 AM

Quote from: igmaca on February 23, 2014, 07:57:14 AM

Quote from: CIYAM on February 23, 2014, 07:47:35 AM

Quote from: igmaca on February 23, 2014, 07:45:44 AM

if leasing power forged for pools at most can only have 100000 nxt we would have several things:

pool forge every 2 3 days that is reasonable
would have 1000000000/100000 = 10 000 nodes to ensure network

Yup - this seems like a good start.

Next Forge Problem

https://www.dropbox.com/s/mhi9360ke6mtbqs/Documento3_P%C3%A1gina_1.jpg

Equality Forge Solution

https://www.dropbox.com/s/9emz21xz8qfo1t3/Documento3_P%C3%A1gina_2.jpg

Equity Forge solution

https://www.dropbox.com/s/u7i9vggpgb79ij3/Documento3_P%C3%A1gina_3.jpg

I just don't get it. Sure, these pictures have an emotional appeal, because now all the cute kids can see over the fence. So what? Math is math.

You've got people who come to NXT with a mining mentality. Eventually they realize that Proof of Stake means they can't get a super-fast machine that gives them an advantage over everybody else and put a whole bunch of newly minted coins in their pocket. They are understandably disappointed. So they turn from a mining rig to the other tool of the mining trade, a pool. So now they're going to pool their NXT with others to be in a group that generates blocks more often than they could alone.

My big question: how do they get more money from a pool than they would get forging on their own?

By the time you do all the division of fees back out to give the fair share to all of the pool members, isn't it the exact same return on investment they would get forging on their own and adding blocks less often?

THERE ARE NO NEW NXT COINS BEING CREATED FROM NOTHING, AS BITCOIN DOES.

Forging is just a recycle of existing coins. So aren't pools just another level of "shell" in a "shell game"?

http://en.wikipedia.org/wiki/Shell_game

Leasing forged fees not leasing power forged

I...STILL...DON'T....GET....IT.

Unlike Bitcoin, unlike DOGE, unlike all the other crap coins that are out there that I ran away from to get here, NXT IS A ZERO SUM GAME. There are no new coins being created. A coin that goes in one NXT forger's pocket has to come out of another NXTer's pocket, either from a NXT transaction fee payer's pocketor from another NXT forger's pocket. HAS TO.

So for ANY scheme is concocted that pools NXT to forge, IF that scheme claims a pool member will get some LARGER proportion of forged coins than they would get from a true 100% Proof of Stake system that NXT runs by now, THEN BY DEFINITION some other pool member is getting a SMALLER proportion than they would by acting alone. So explain to me who is getting shafted under this new scheme?

Not that your explanation matters, because with falling transaction fees, I doubt anybody can profitably support amortizing the purchase cost of a forging node and its electricity costs under ANY scheme, including the one NXT is operating under right now.

You wanna mine free coins and get rich, go see DOGE. You wanna try to experiment and create a more sustainable system that faces bigger challenges than it seems at first glance, stick around for this fun roller coaster ride called NXT.

ok just trying to help

xyzzyx

sr. member

Activity: 490

Merit: 250

I don't really come from outer space.

Quote from: EvilDave on February 23, 2014, 01:03:41 PM

Quote from: dave5555 on February 23, 2014, 12:43:47 PM

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

http://www.youtube.com/watch?v=JF1chLj1fro&t=18s

zorke

full member

Activity: 238

Merit: 100

Thanks once again 7017504655955743955

This is really an awesome community!!

EvilDave

hero member

Activity: 854

Merit: 1001

Quote from: dave5555 on February 23, 2014, 12:43:47 PM

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

+1, good work, fellow dave.

Quote from: marcus03 on February 23, 2014, 12:43:58 PM

I am thinking about setting up a public VPS node to offer a(nother) node for my users of my NXT client.

Which hoster should I use, what are the server specs. I would need to run it smoothly and is there still the danger of hitting hoster bandwith limits with the recent version of NRS?

Thanks!
Marcus

I'm running a non-hallmarked VPS 24/7 on Amazon EC2, monthly costs were $1.38 for January, and are $0.34 for Feb. Costs fuck all, basically.
Looks like hosting costs are dropping as Jean-Luc works his magic. If version 0.8 also has such low overhead, I'll fire up a few more EC2 instances at the begining of March.

I think that forging should stay as it is...big holders get bigger rewards. It's PoS, live with it.
However: we need to encourage a healthy NXT network, now and in the future, and forging income alone doesn't seem to be enough right now to motivate people. We need some way to make contributing to the network at least slightly profitable for everyone, not just guys with enough to forge.

dave5555

newbie

Activity: 52

Merit: 0

Quote from: mynxtcoin on February 23, 2014, 12:51:03 PM

Quote from: dave5555 on February 23, 2014, 12:43:47 PM

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

Same here, i have seven nodes, but I think it is important to eventually reach a point where we do not need them.
Often I have seen the same node forge block after block.
This is not unfair, but it would be better if smaller accounts could get something too.
That is the appeal of dogecoin. Little guys can get a return, not just the big ASIC miners as is the case with Bitcoin.
Maybe more blocks per minute, maybe enforce a waiting period between forged blocks for each node? Maybe something else.

Noted. I'm sure once fractional NXT goes into play and as transactions increase it'll become more appealing towards the average user.

TwinWinNerD

legendary

Activity: 1680

Merit: 1001

CEO Bitpanda.com

THANK YOU

7017504655955743955

grandpa_seth

sr. member

Activity: 316

Merit: 250

Simcoin Puny Humans Communicator

rickyjames

full member

Activity: 196

Merit: 100

Quote from: igmaca on February 23, 2014, 11:26:09 AM

Quote from: rickyjames on February 23, 2014, 09:52:52 AM

Quote from: igmaca on February 23, 2014, 07:57:14 AM

Quote from: CIYAM on February 23, 2014, 07:47:35 AM

Quote from: igmaca on February 23, 2014, 07:45:44 AM

if leasing power forged for pools at most can only have 100000 nxt we would have several things:

pool forge every 2 3 days that is reasonable
would have 1000000000/100000 = 10 000 nodes to ensure network

Yup - this seems like a good start.

Next Forge Problem

https://www.dropbox.com/s/mhi9360ke6mtbqs/Documento3_P%C3%A1gina_1.jpg

Equality Forge Solution

https://www.dropbox.com/s/9emz21xz8qfo1t3/Documento3_P%C3%A1gina_2.jpg

Equity Forge solution

https://www.dropbox.com/s/u7i9vggpgb79ij3/Documento3_P%C3%A1gina_3.jpg

I just don't get it. Sure, these pictures have an emotional appeal, because now all the cute kids can see over the fence. So what? Math is math.

You've got people who come to NXT with a mining mentality. Eventually they realize that Proof of Stake means they can't get a super-fast machine that gives them an advantage over everybody else and put a whole bunch of newly minted coins in their pocket. They are understandably disappointed. So they turn from a mining rig to the other tool of the mining trade, a pool. So now they're going to pool their NXT with others to be in a group that generates blocks more often than they could alone.

My big question: how do they get more money from a pool than they would get forging on their own?

By the time you do all the division of fees back out to give the fair share to all of the pool members, isn't it the exact same return on investment they would get forging on their own and adding blocks less often?

THERE ARE NO NEW NXT COINS BEING CREATED FROM NOTHING, AS BITCOIN DOES.

Forging is just a recycle of existing coins. So aren't pools just another level of "shell" in a "shell game"?

http://en.wikipedia.org/wiki/Shell_game

Leasing rights fees not leasing power forged

I...STILL...DON'T....GET....IT.

Unlike Bitcoin, unlike DOGE, unlike all the other crap coins that are out there that I ran away from to get here, NXT IS A ZERO SUM GAME. There are no new coins being created. A coin that goes in one NXT forger's pocket has to come out of another NXTer's pocket, either from a NXT transaction fee payer's pocketor from another NXT forger's pocket. HAS TO.

So for ANY scheme is concocted that pools NXT to forge, IF that scheme claims a pool member will get some LARGER proportion of forged coins than they would get from a true 100% Proof of Stake system that NXT runs by now, THEN BY DEFINITION some other pool member is getting a SMALLER proportion than they would by acting alone. So explain to me who is getting shafted under this new scheme?

Not that your explanation matters, because with falling transaction fees, I doubt anybody can profitably support amortizing the purchase cost of a forging node and its electricity costs under ANY scheme, including the one NXT is operating under right now.

You wanna mine free coins and get rich, go see DOGE. You wanna try to experiment and create a more sustainable system that faces bigger challenges than it seems at first glance, stick around for this fun roller coaster ride called NXT.

landomata

legendary

Activity: 2184

Merit: 1000

Quote from: grandpa_seth on February 23, 2014, 12:40:46 PM

Quote from: martismartis on February 23, 2014, 12:26:47 PM

What happened with Vircurex? Price drops a lot.

Dude that's far out.

mynxtcoin

newbie

Activity: 20

Merit: 0

Quote from: dave5555 on February 23, 2014, 12:43:47 PM

All this talk about forging and running nodes and this and that and unfair and that.....

And here I am running some nodes just to strengthen the network.

I do it because if the network is successful, then we'll all be succesful. Although if I could forge more it would be a plus.

Same here, i have seven nodes, but I think it is important to eventually reach a point where we do not need them.
Often I have seen the same node forge block after block.
This is not unfair, but it would be better if smaller accounts could get something too.
That is the appeal of dogecoin. Little guys can get a return, not just the big ASIC miners as is the case with Bitcoin.
Maybe more blocks per minute, maybe enforce a waiting period between forged blocks for each node? Maybe something else.

ebereon

sr. member

Activity: 397

Merit: 500

Thanks 7017504655955743955! Cheesy

Topic: NXT :: descendant of Bitcoin - Updated Information - page 727. (Read 2761645 times)