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Now everyone who didn't believe us can look for himself. 
100% own Node.js code.
Topic: What 2.0 Currency will be the most successful? - page 6. (Read 17794 times)
Thanks.
Now everyone who didn't believe us can look for himself. 100% own Node.js code.
[quote author=patmast3r link=topic=1196533.msg12623817#msg12623817 date=1444215030
I'm not teaching to you directly to you, but to all communities.
The voting happens continuously. Certain parameters are "voting" parameters:
number of miners, miner monthly paycheck, which development project to implement next, etc.
An outsider can get a glimpse of the community's consensus based on what they are voting for (or against). If the world wants more decentralization, then they will vote for more miners. If the users want more profits (reduced supply to squeeze the price higher), then they will vote for less miners (so that there are more coins to be able to burn).
It will be interesting to see where the community puts this balance. Who knows, maybe they will be so greedy that they will only choose 1 miner, and burn 90% of all transaction fees just to squeeze the shorts, but maybe they will choose massive coin inflation and 1000 miners so that they can brag that they have more decentralization than the next guy.
We will see what the global consensus wants in 2 weeks.
popcorn ready
How will they vote, one coin one vote or one account one vote?I'm not teaching to you directly to you, but to all communities.
The voting happens continuously. Certain parameters are "voting" parameters:
number of miners, miner monthly paycheck, which development project to implement next, etc.
An outsider can get a glimpse of the community's consensus based on what they are voting for (or against). If the world wants more decentralization, then they will vote for more miners. If the users want more profits (reduced supply to squeeze the price higher), then they will vote for less miners (so that there are more coins to be able to burn).
It will be interesting to see where the community puts this balance. Who knows, maybe they will be so greedy that they will only choose 1 miner, and burn 90% of all transaction fees just to squeeze the shorts, but maybe they will choose massive coin inflation and 1000 miners so that they can brag that they have more decentralization than the next guy.
We will see what the global consensus wants in 2 weeks.
popcorn ready
Btw, what is the current fee per transaction?
I'm not teaching to you directly to you, but to all communities.
The voting happens continuously. Certain parameters are "voting" parameters:
number of miners, miner monthly paycheck, which development project to implement next, etc.
Your using miner(s) alot is this the same as delegate, or the 101. If it is then they are the only one who will be paid via the fees, correct?
I guess this brilliant system was also devised with constant 100k TPS in mind? Otherwise you're not gonna get enough fees to pay everyone and their uncle.
Also saying BTS is the frist to pay miners solely from the tx fees is just so utterly wrong. Is that another lie the bts marketing has been telling you ?
Also saying BTS is the frist to pay miners solely from the tx fees is just so utterly wrong. Is that another lie the bts marketing has been telling you ?
Here is what bytemaster says...
Quote
If the network is generating anywhere near 100 TPS per second then the network will be earning more than $1M per day in fees and our market cap would be closer to Bitcoins market cap. In other words, this should have 0 impact on customer experience over the next several months. By the time we start gaining traction like that we will have worked through the kinks of getting a higher throughput network layer.
link https://bitsharestalk.org/index.php/topic,18717.msg241280.html#msg241280
The success of any coins will depend on if they can get bootstrapped in a certain time window (maybe 1-3 years), namely, making profit, having steady revenue and cash flow.
Are you talking about a crypto-currency or a corporate start-up ?Admittedly, most of the current gen 2.0 currencies are being run as centralised corporations, but you cannot measure the success of a crypto-currency on those criteria.
Adoption may be the most important measure of success.....but even that could be up for debate,
For me, they are same thing. The business success on a platform means the success of the platform becasue there will be steady revenue to support the platform and vise versa.
can you define too large ? Is that also something the users vote for ?
Yes
So, we are not trying to compete with your coin, we are just trying to attain $50-60 million market cap so that we can stop inflating the coin supply and pay our developers and start burning coins.
Are those votes a one time thing or are they going to be happening regularly ?
I don't have a coin so I'm really not trying to hate.
we're saying that BTS is going to be the first coin with zero inflation that pays miners, developers, and users (through burning coins daily) simultaneously. If there is another coin doing that, then please let me know so that I can buy some.
Could you explain "and users (through burning coins daily)"? Users burn coins but somehow get paid?
Miners will get paid to secure the system, accept transaction fees, and if their salary gets too large, burn the difference (and or send some to the dev fund depending on the ratio that the users vote for)
can you define too large ? Is that also something the users vote for ?
I guess this brilliant system was also devised with constant 100k TPS in mind? Otherwise you're not gonna get enough fees to pay everyone and their uncle.
Also saying BTS is the frist to pay miners solely from the tx fees is just so utterly wrong. Is that another lie the bts marketing has been telling you ?
we're saying that BTS is going to be the first coin with zero inflation that pays miners, developers, and users (through burning coins daily) simultaneously. If there is another coin doing that, then please let me know so that I can buy some.
And no, they do not need a certain TPS rate to accomplish this level of profitability.
Your other post made it sound like it was doing something else. No, noone is doing that. We'll see how profitable it's going to be though.
we're saying that BTS is going to be the first coin with zero inflation that pays miners, developers, and users (through burning coins daily) simultaneously. If there is another coin doing that, then please let me know so that I can buy some.
Could you explain "and users (through burning coins daily)"? Users burn coins but somehow get paid?
I guess this brilliant system was also devised with constant 100k TPS in mind?
What system?
the "system" of paying that many people from tx fees.
I guess this brilliant system was also devised with constant 100k TPS in mind?
What system?
By burning coins instead of creating them, BitShares will become the first profitable crypto because its miners do not mine new coins but get paid only out of transaction fees which are also used to pay devs, and burn for shareholder "dividends"
Thank you for this gem. I requested password recovery on BTS forum but hasn't received the letter even after 10 hours of waiting. Now I don't need to post my question regarding micropayments on their forum, the answer is pretty clear.
I guess this brilliant system was also devised with constant 100k TPS in mind? Otherwise you're not gonna get enough fees to pay everyone and their uncle.
Also saying BTS is the frist to pay miners solely from the tx fees is just so utterly wrong. Is that another lie the bts marketing has been telling you ?
By burning coins instead of creating them, BitShares will become the first profitable crypto because its miners do not mine new coins but get paid only out of transaction fees which are also used to pay devs, and burn for shareholder "dividends"
Thank you for this gem. I requested password recovery on BTS forum but hasn't received the letter even after 10 hours of waiting. Now I don't need to post my question regarding micropayments on their forum, the answer is pretty clear.
Features - yes. Usefullness - debatable.
Well i`ll be following both NEM, and ETH alongside with NXT to have a comparison as they are both similar genre.
I am even thiking about investing in NEM, but i`m still not convinced about it, i`ll have to do more research.
The thing i like with NXT is that it has a big and userfriendly forum, I dont like the shiny NEM forum format.
I prefer the SMF forum theme
NXT is my top pick.
But there are some interesting things i do really like about NEM
You mean the authenticaton system based on nodes, and trust. Thati s innovative in NEM, but i dont know how practically useful that is.
The old POS systems are good too, and we shall see which one tends to be better in reality, not just in theory.
I also prefer NXT as the best altcoin now.
The success of any coins will depend on if they can get bootstrapped in a certain time window (maybe 1-3 years), namely, making profit, having steady revenue and cash flow.
Are you talking about a crypto-currency or a corporate start-up ?
Admittedly, most of the current gen 2.0 currencies are being run as centralised corporations, but you cannot measure the success of a crypto-currency on those criteria.
Adoption may be the most important measure of success.....but even that could be up for debate,
Features - yes. Usefullness - debatable.
Well i`ll be following both NEM, and ETH alongside with NXT to have a comparison as they are both similar genre.
I am even thiking about investing in NEM, but i`m still not convinced about it, i`ll have to do more research.
The thing i like with NXT is that it has a big and userfriendly forum, I dont like the shiny NEM forum format.
I prefer the SMF forum theme
NXT is my top pick.
But there are some interesting things i do really like about NEM
Features - yes. Usefullness - debatable.
Well i`ll be following both NEM, and ETH alongside with NXT to have a comparison as they are both similar genre.
I am even thiking about investing in NEM, but i`m still not convinced about it, i`ll have to do more research.
The thing i like with NXT is that it has a big and userfriendly forum, I dont like the shiny NEM forum format.
I prefer the SMF forum theme
NXT and NEM are both good choices.
My vote is for the NEM blockchain platform with Proof-of-Importance, EigenTrust++, delegated harvesting and m-of-n multisig.
My vote is for the NEM blockchain platform with Proof-of-Importance, EigenTrust++, delegated harvesting and m-of-n multisig.
I dont get why is that so sophisticated to have that algorithm.
It may prove to be useful later, but at the moment they dont have lightweight client, which is a big down for me.
In fact, every NEM client is a lightweight client, because you can hook it up to ANY node.
See this: https://www.youtube.com/watch?v=eW4ftmOzfPk
Hmm i didnt know you can do that.
But still it doesnt come close to NXT in terms of features and usefullness.
Features - yes. Usefullness - debatable.
Adoption is the key.
Once bitcoin's flaws become apparent, people will be flocking over to NXT or NEM.
Bitcoin was just a beta project essentially a proof of concept piece of software that took off with no future proofing in mind.
Its worse than the problem we have with running out of ipv4 addresses.
I agree about adoption being key. That means that tech is less important though which also means that BTC - a mere proof of concept indeed - is still very much in the race. There are so many bagholders now that are pushing it despite all flaws that in the end it doesn't really matter how flawed it is or isn't. All that matters will be what crypto has the backing of people that can actually push it into mainstream and right now BTC still seems to have the best chances there.
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