Transparent mining, or What makes Nxt a 2nd generation currency - page 11.

Come-from-Beyond

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Quote from: Cryddit on December 23, 2013, 12:48:00 PM

Of course, I dislike this about Nxt:

Closed source code. I like the mining algorithm, but absolutely cannot run closed-source from someone who would be hard to sue, for anything that involves a substantial amount of money.

There are a lot of Java programmers on this board. Ask any and they will disassemble .class files, the files r not obfuscated. Ppl who say that Java binaries is closed source understand nothing in Java (well, they shouldn't).

dE_logics

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Quote from: Come-from-Beyond on December 23, 2013, 12:43:54 PM

Quote from: dE_logics on December 23, 2013, 12:41:23 PM

"Outside the network", do you mean the block chain cannot be forked?

I mean that unlike ASICs, that can be created by someone, noone can create NXT coins (which r like ASICs in PoS currency) and bring them into the system.

But we were talking about 51% attacks here. You mean the mining system is such that the block chain cannot be forked?

Cryddit

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Of course, I dislike this about Nxt:

Closed source code. I like the mining algorithm, but absolutely cannot run closed-source from someone who would be hard to sue, for anything that involves a substantial amount of money.

Cryddit

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I like this about Nxt:

In order to mine, you have to invest in Nxt, not in computer hardware.
And when you sell some amount of your Nxt for Bitcoin (or whatever), you lose that amount of your ability to mine.

So it gets the usual pump-n-dump miners coming, and going. In order to mine, they have to support the price by buying and holding. And when they cash out, they lose their ability to mine. So there's no jumping in and out the way multipools usually do, and the kind of disruption that causes simply doesn't happen.

It's also less unfair than the usual mining setup because it doesn't reward centralization. If you some amount in mining Nxt, you get the same mining power per money invested as someone who invests any other amount in Nxt, where with most PoW coins you get substantially more than a fair share of blocks as you invest more money.

I like these features, but I bet P&D miners just hate 'em. In fact, without the enthusiastic support of the "early miner" crowd, I wonder how nxt has even gotten past launch.

Come-from-Beyond

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Quote from: dE_logics on December 23, 2013, 12:41:23 PM

"Outside the network", do you mean the block chain cannot be forked?

I mean that unlike ASICs, that can be created by someone, noone can create NXT coins (which r like ASICs in PoS currency) and bring them into the system.

dE_logics

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Quote from: Come-from-Beyond on December 23, 2013, 12:35:30 PM

Quote from: dE_logics on December 23, 2013, 12:13:11 PM

Quote

The 2nd scenario can't be applied to Nxt, coz no NXTs exist outside the network.

Why?

Err, because no NXTs exist outside the network. Supply of NXT is limited.

"Outside the network", do you mean the block chain cannot be forked?

Come-from-Beyond

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Quote from: dE_logics on December 23, 2013, 12:13:11 PM

Quote

The 2nd scenario can't be applied to Nxt, coz no NXTs exist outside the network.

Why?

Err, because no NXTs exist outside the network. Supply of NXT is limited.

dE_logics

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Quote

The 2nd scenario can't be applied to Nxt, coz no NXTs exist outside the network.

Why?

User705

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First 100% Liquid Stablecoin Backed by Gold

Quote from: Come-from-Beyond on December 21, 2013, 07:18:39 AM

Quote from: User705 on December 21, 2013, 07:01:35 AM

Does the client still mine/forge if the lock button on the account is closed or it has to stay open?

It has to stay open. But u can close the browser.

Where can I read about the security aspects of running it this way?

Come-from-Beyond

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Quote from: User705 on December 21, 2013, 07:01:35 AM

Does the client still mine/forge if the lock button on the account is closed or it has to stay open?

It has to stay open. But u can close the browser.

User705

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Does the client still mine/forge if the lock button on the account is closed or it has to stay open?

RoooooR

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GigTricks.io | A CRYPTO ECOSYSTEM FOR ON-DEMAND EC

Quote from: Come-from-Beyond on December 21, 2013, 05:39:51 AM

Quote from: RoooooR on December 21, 2013, 05:37:51 AM

Why the price is going up? I sold yesterday, now its x3 ?

Anon136 published his review of Nxt mining algo.

Oh thanks.

Come-from-Beyond

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Quote from: RoooooR on December 21, 2013, 05:37:51 AM

Why the price is going up? I sold yesterday, now its x3 ?

Anon136 published his review of Nxt mining algo.

RoooooR

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GigTricks.io | A CRYPTO ECOSYSTEM FOR ON-DEMAND EC

Why the price is going up? I sold yesterday, now its x3 ?

Come-from-Beyond

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Quote from: User705 on December 21, 2013, 05:30:15 AM

So generating an address can only be done by downloading the client and running it? And once done and Nxt recieved I can erase it? And after to retrieve coins I simply start up the new client with same pass phrase?

Yes.

User705

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Quote from: Come-from-Beyond on December 21, 2013, 05:27:08 AM

Quote from: User705 on December 21, 2013, 05:21:59 AM

Where is this online version? Also is there a way to do cold storage? I understand that means I won't generate fee coins.

U have to find a public server that doesn't block access. I used to provide one but now it's used to host a special version with Asset Exchange.

To store coins in cold just send them to an account that u don't use. U have to send at least 1 NXT to any account though to reserve ur account id.

So generating an address can only be done by downloading the client and running it? And once done and Nxt recieved I can erase it? And after to retrieve coins I simply start up the new client with same pass phrase?

Come-from-Beyond

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Quote from: User705 on December 21, 2013, 05:21:59 AM

Where is this online version? Also is there a way to do cold storage? I understand that means I won't generate fee coins.

U have to find a public server that doesn't block access. I used to provide one but now it's used to host a special version with Asset Exchange.

To store coins in cold just send them to an account that u don't use. U must send at least 1 NXT to any account from cold account to reserve ur account id.

User705

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Quote from: Come-from-Beyond on December 09, 2013, 11:21:35 AM

Quote from: Bitventurer on December 09, 2013, 11:02:46 AM

Seems fair to me , but what if I'm having problems with installing the client? or don’t want install the client for security reasons? can I still mine with the online version?

Yes, u can.

Where is this online version? Also is there a way to do cold storage? I understand that means I won't generate fee coins.

opticalcarrier

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Quote from: Snail2 on December 13, 2013, 06:49:56 AM

Quote from: superresistant on December 13, 2013, 06:29:18 AM

You can set the memory parameters with command line on Java
port ~~7875~~ 7874
To mine, just put coin on the wallet and stay online.

Thanks. I know how to tune the heap sized but I'm not sure if my "-Xms256m -Xmx1024m" will be good enough. Am I need to do anything with GCs or just leave all these things alone?

you were just given incorrect info. DO NOT open port 7875 on your router. the p2p port is 7874.

the 2 of you guys should edit your posts to correct this

Snail2

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Quote from: superresistant on December 13, 2013, 06:29:18 AM

You can set the memory parameters with command line on Java
port 7875
To mine, just put coin on the wallet and stay online.

Thanks. I know how to tune the heap sized but I'm not sure if my "-Xms256m -Xmx1024m" will be good enough. Am I need to do anything with GCs or just leave all these things alone?

Topic: Transparent mining, or What makes Nxt a 2nd generation currency - page 11. (Read 35871 times)