Re: Transparent mining 2, or What part of Legacy should be left behind
I can't imagine why somebody who is selling t-shirts or anything else should be forger and nobody else.
I like the idea forging as business. But still don't undestrand why average person buying a 100000 NXT will not be able to forge.
Mining made bitcoin so famous, because people can do something for the idea at home and earn real money.
What I'm missing?
I like the idea forging as business. But still don't undestrand why average person buying a 100000 NXT will not be able to forge.
Mining made bitcoin so famous, because people can do something for the idea at home and earn real money.
What I'm missing?
I think "self-less" (not forging for profit) forging is great in many aspects:
1) Encourages people who run businesses to forge. These people actually contribute to the ecosystem. This aligns being productive with keeping the network secure.
2) PoW mining is "popular" because it is extremely selfish. Bitcoin was designed so that this selfish desire is aligned with securing the network, but I'd wager most miners could care less about bitcoin as long as they are making money. Also, since the introduction of PoS, PoW is completely obsolete (besides running turing-complete scripts, but that still works better in a PoS system where there are a lot of free computer resources).
3) You can forge with 100000 NXT, something like 1 block every 2 days? I agree that it's not profitable to do on it's own. But reading BCNext's and c-f-b posts, it is more than likely there will be coins built on-top of the NXT ecosystem. I'm sure someone will make a very profitable PoW coin.
Or am I getting this completely wrong, c-f-b? I know you explained this somewhere before, but I'll be honest, I did not understand it 
Instant transactions work only for usual payments.
Ah, okay. Is this a technical limitation, or would it just be a very bad idea?