Topic: NXT innovation -gets a special mention at the end of my Crypto educational Blog - page 2. (Read 9092 times)

That RaspPi case is so damn pretty....I want one.

Who would like some low cost hardware requirements? ....




https://nxtforum.org/general-discussion/small-announcement-pi-case-bling-nearly-ready/msg58259

Yup, its like free troll-powered publicity....

Anyhow, thought i'd try today to bring some sanity into the debate, instead of the endless 'NXT/PoS is a scam...Oh no it isn't' game we've been playing up til now.


Proof of Stake is going to be the future of a large section of the crypto world.
It has to be.....pretty soon (inside a couple of years) we are hopefully gonna see a lot of the financial world migrate to crypto. This means that we will need to have lots of blockchains running on a variety of devices and for a wide variety of applications (like BTC for high level transfer of big lumps of money, NXT for your investment portfolio/trading, DOGE to pay your kids their pocket money).
Sadly for this idea,  the current blockchain tech (ie Proof of Work) cannot run on most devices that people actually use day to day (ie smartphones/tablets)  and scales up quite badly in terms of energy use and processing power requirements on the machines that can support a PoW blockchain.
PoW is a brilliant idea, but it's not going to be enough in the long term to take crypto into the mainstream.

There will probably never be one universal crypto-currency or system, but one thing is very clear to me :
PoS works, and PoS is going to be essential to get universal adoption of crypto.  

So, do you want to take over the world with PoS, or stay in a crypto ghetto, feeding ever hungrier PoW mining rigs ?


Edit: Proof of Stake is centralised? LOL
You missed that by a mile, Di.
Proof of Work tends towards centralisation, not PoS. Lower hardware requirements = more nodes = less centralised.

see my Blog on Po$ for clarification - http://kolinevans.wordpress.com/2014/07/02/on-po-proof-of-scam-defining-the-rational-crypto-currency-exclusive-socioeconomic-dynamic/

Summary of Po$ or Proof of Scam.

Po$ can generally be best summarized as the “crossing over” of the trust less aspects of the Random Proof of Work distribution system into to a more fiat like  centralized “trust us”  monetary group.

in this the Po$ system generally relies on the “good will” and “good nature” of the human trusted distributors (a very key element of the fiat system), there is multiplying aspect to the Po$ system and that is that generally crypto currency is pseudo anonymous, so it could be generally stated that you are relying on the “good will” of anonymous distribution actors.

There are many examples, but the key points to take away are;

    if the (rPoW) Random Proof of Work is flawed in such a manner that distribution relies on the “Trust us” ” “its ok” system.
    the “One CPU One Vote” Principal is replaced by the “trust the anonymous person on the internet” principal.
    As long as it first qualifies as a “cryptocurrency”
    if it has a Block-chain

To be more concise – (Po$) Proof of Scam is still a Cryptocurrency by definition, because it still has a decentralized ledger and thus is grouped in the “cryptocurrency” group, however the key aspect of Cryptocurrency that is generally defined as “Random Proof of Work distribution”, that was defined and to all intents and purposes invented by “Satoshi” and best summed up in his/her comment as “One CPU one Vote”;

This key aspect is shifted from the traditional system of Random mechanics to a more centralized fiat monetary system, so some could contest that it is the worst parts of both systems merged, i.e the pseudo anonymity of cryptocurrency and digital currency combined with the centralized “trust us” ” we have good intentions” of the fiat system.

That is Proof of Scam (Po$) and it is not a joke at all.

Haha, i feel like all those stupid threads are actually publicity for Nxt. There are a few % of those people who repeat their so called "facts" over and over without any proof.

If only a few readers question his statements and do their own reading, check out the Forum http://nxtforum.org/ and read about Nxt then it is a good thing

Any shred of evidence for smart guys to independently verify? Maybe something from the blockchain that proves 90% is going through the same accounts? That would be indisputable. Or should I take you at your word?

Wait. I forgot,  you don't do evidence  ok, carry on 

Agreed.

really ? you need a visual graph to tell you the obvious ? seriously ?

love the failed whole attempt at snotty little snarky trolling lol
if you do or don't like the coin.. maybe state your case ?
smart people are not convinced either by superfluous fanboyism for OR against any given coin.
you must appeal to peoples intelligence not their inner 4chan child hahha

guys trying to bully someone on the internet with forum trolling does not magically make your crappy coin awesome and legit.
all it ever seems like to me is kiddiots on the internet with a chip on their shoulder who are bag holding and want to defend their crap coin..
but they don't posses the intelligence to do it so they have no recourse but to try and divert conversions in frustration,
in an attempt to discredit a guy and derail the original assertion. (try holding your breath to get your way maybe ?)

And News Flash guys..
It does not matter if a guy was wrong 1,000x before if he says something that is rock solid and verified
then game over.
the crowd out there with a brain will see what is what and see straight through the childish little games and see what truly "is"
you guys convince virtually no one at all ever with all this crap your dump on here 24/7..
you guys spend suck immense amounts of time trying to fight people and cause little diversions and drama for nothing..
smart guys see straight through it all miles away *if they even bother to read your useless chearleading snotty brat retorts.

By all means keep it up..

Agreed. Nxt is not just a currency, but a crypto platform. It has many other applications besides a currency.

Thank you for pointing this out!

It's what makes Nxt so interesting compared to regular cryptocurrencies, like quark for example.

no one really gets hurt except...

oh the dupes that thought they were buying a "crytpocurrency".

So, no price chart? I'm quite disappointed, thought you would try harder...

no problem i'll do it right here; ready?:

you own it all so you will keep trading it back and forth between yourselves - you might sucker a few more idiots but that is about it, then just like Ripple one of the major holders (there is probably 5 or 7 of you) will sell or move on, the price will collapse and the tide will go out on the NXT Po$ system.

as long as you're out before then, its sweet sweet just like Wall st hangs on every word of the FOMC, if they "cash out" its "cya later cunt".

no lines needed.

see my rocket pic.

I have a favor to ask you, digi

Could you draw some price predicition charts of Nxt, for the scenario that everyone gets educated by your blog?

Don't hesitate to use downtrending arrows and red lines. Please, this would really make me happy!

Let's do the 'nothing at stake' bit  it is better than the dead horse you're flogging as it has the appearance of legitimatcy at first glance. It is much more fun   

*yawn*  ^^ Same question^^   you're boring us, if we wanted a ill informed monologue, we'd read your blog  c'mon, you used to be interesting

Why Proof of Scam (Po$) is a real socioeconomic dynamic  - its not a joke.


-----------------------UPDATE --------------------------
A word on Proof of Scam

Po$  ( Proof of Scam)  not to be confused with PoS (Proof of Stake) is a real thing, people like to joke but i'd like to explain why Proof of Scam is an actual socioeconomic dynamic;

Proof of Scam (Po$) can be broadly defined as anything outside the Random Proof of work distribution, to a degree that it is nearly in the centralized fiat groups of monetary systems, a key element is if as a replacement to the Random Proof of Work distribution you have instead , the "trust us" principal.

There can be other examples, and many may argue back and forth, for example if the PoW period is gregariously flawed a system may be contested to be Proof of Scam or a Proof of Scam allegation could be leveled.

Proof of Scam is a uniquely Crypto currency dynamic, it can not be used for fiat applications because fiat is not a "trust-less system".

so to make that clear and if you would like to visualize it; fiat centralized paper Debt issued money is in a  bubble of its own that can never be governed by a Random Proof of work system, or any other "trustless" system.

"Cryptocurrency" is then in its own group which can be split up then into all its other groups -

The (Proof of Scam) Po$ group

The Proof of Scam group can be generally defined as a group in which the "random proof of work" and thus the "trustless system" is so flawed, that it almost represents a centralized fiat system.

there are many examples = but the key points to take away are that if the PoW is flawed in a manner of distribution as to rely on the  "Trust us" " "its ok" system. the "crypto" can generally be confirmed to be Po$ or Proof of Scam.

-----------------------UPDATE --------------------------

Why are you so negative? Is it all you've got? Boring -- at least have actual arguments please.

You demonstrated (1) incompetence and (2) lack of arguments. It doesn't help that you always happen to switch to personal remarks when you're insecure about what to say next. I am interested in technology, not random opinions. If you don't understand NXT and decentralised applications that's fine -- constantly posting incompetent propaganda is another story.

But go ahead, keep making yourself look like a clueless fool if you wish (unluckily attached to your real name). That's an interesting hobby but it's your perfect right to do so.

Why do you assume your opinion is valued and carries any weight with anyone,  especially when you repeatedly fail to defend it?

why would i hate you ? i like you instacash.

i'm helping you learn that there are two paths:

one is insta cash and its an easy path, but can just as easily come undone, and the other is one that involves not that much more work really, but is equally rewarding*

i'm fully relaxed - now just re-wrote an article on what is Proof of Work and why its important for beginners , and you give it to the NXT devs i.e maybe you two guys?

http://kolinevans.wordpress.com/2014/07/02/what-is-proof-of-work-distribution-or-sometimes-stated-as-pow-for-cryptocurency-beginners/

* and you are not a thief or ruining crypto currency by proxy.

So you believe Nxt doesn't use a mathematical concensus to award blocks?