Quote from: JohnnyBTCSeed on April 24, 2014, 02:42:29 PM

Quote from: 2Kool4Skewl on April 24, 2014, 06:48:48 AM

Quote from: blasthash on April 24, 2014, 03:12:02 AM

Quote from: Raxe.io on April 24, 2014, 02:48:14 AM

Quote from: blasthash on April 24, 2014, 02:03:46 AM

Quote from: Wilburbone on April 24, 2014, 01:59:51 AM

Hashrate.org is going to be very profitable for 'mining' NXT. And I can tell you the PoW probably isn't going to last long in general, so you should probably be 'mining' coins like Nxt that are PoS and going to have future success because of all the features. The Asset Exchange will launch in about 18 days or so, and that's just the beginning.

I'm interested. Does NXT still have a low enough diff to be efficient on a small scale (i.e. small computer farm)?

One of the most interesting concepts behind NXT is that it is probably the greenest crypto currency, which at the moment is quite an under recognized part of our society. The reason for this is the mining protocol, when coins are being mined it's all based on Stake coins that are forged. NXT does not over exert energy resources just standard electricity and the process electricity that is created by the client, it does not special mining hardware or alternative equipment leading to less electrical consumption.

I'm interested, and I've already gotten a client for it/some seed coins.

Problem is though, how many coins would I have to purchase before the "mining"/forging becomes economical?

Any idea? My main concern is that because it requires seeder coins, I'll put in far more time and seeder money into making it profitable than is worth recovering.

blasthash

There is a difference between mining and forging in NXT.

You can use your existing sha256 and scrypt hardware to mine NXT via Hashrate.org. Because NXT is a pure PoS currency, Hashrate.org mines PoW coins and sells them to purchase NXT.

Hashrate.org deposits your NXT into your NXT account and if you leave your NXT client running, you will start forging NXT. The amount of NXT you receive from forging depends on the amount of NXT in your account and the level of activity on the network. Here is a formula to help you determine you forging rate:

(NXT in your account) / 1,000,000,000 * (Blocks per day) * (Transaction fees per block)

Remember that transaction fees vary per block and the network is currently averaging 800 blocks per day.

We are expecting transactions to increase on the network upon the upcoming release of the Asset Exchange and decentralized multi-gateway.

Forging with Nxt is superior to mining because NXT uses no electricity and doesn't depreciate or become obsolete.

What is an average transaction fee or what is the average range of the transaction fees?

The average transaction fee per block is 0.14 NXT.

Here are the statistics of the NXT network.