Nxt is pure POS
it's about indirect mining

Sorry - I read the 1st post and then skipped the last 9 pages.

Shouldn't PPC have been the one end-all to be all had proof of stake had been successfull wouldn't the mass majority of miners simply convert to PPC and hold a portion of it to roll over with POS?

"makes me dream of folks out there who have 10,000,000 PPC and recieve a cool million PPC each year to live off of "

POS make the whole system more closed to outside people: Early adopter not only benefit on the price appreciation, but also gain in dividends. This will cause less and less people joining this system

An important part of a distributed system is to continuously give the new comers incentive to join the network, thus new comers with newer technology/better service can re-balance the whole mining picture and take over the throne. For example, deepbit's leadership were replaced by BTCguild, then Ghash.IO and discuss fish, etc... This will make sure the system is enough decentralized and there is always healthy competition to make the network strong and fresh. Miners seek profit, but also have the voting rights, this is a very important aspect

But in POS system miners would lose the incentive due to losing of voting rights. What they do is just make the early adopters rich, and if there is a situation need a protocol level change, they don't have voting rights, they will abandon this closed system

In PoW system, the decision making rights is always stay with the current most actively working miners, that is the best way to distribute the decision making power, although there is certain risk of 51% attack. But the 51% attack is not a big problem, because ultimately is the majority of bitcoin miners decide which chain they select to work on, not existing bitcoin holders, this is a key difference (You can buy lots of coins using printed fiat money thus gaining more stake, but you can't buy a farm with huge amount of hashing power since those guys who are capable of making hashing machines will inform others at the first place)

other dogs varied "cottage"

That's why you should invest in NEX.

This was my sentiment exactly. Glad to see some rational thought going on in here.




Nobody cares. Go troll somewhere else. First you berate the developers claiming they shut down the exodus address early (I did not verify this, nor do I care to), but then you go on to tell us all how you "got in yesterday, so you don't care." And then you continue your charade by laughing about 1 or 2 trades that executed under initial IPO price.

You're doing everyone a disservice here, but mostly yourself. See ya.

Yeah, I'd probably seize the coins just to spite the criminal and out of my sense of justice. I'd do that for someone else's stolen coins too if I was 100% certain. That's what I meant by "the kindness of a stranger". I'd want to be a kind stranger.

What is not clear to me here is the notion of apps?  I can see apps that use maidsafe as its storage / backup mechanism,  however does this network support arbitrary apps on a  decentralized manner?

IIRC - the 10% IPO means the capitalization at launch will be $160 million.  That's a risky investment for people who poured BTC into this.   It's easier said than done to hit $1 billion or $10 billion.  

You have to factor in the farmers, like miners, who'll be dumping to meet their overhead.  I'm pretty certain this IPO was never determined to be a good investment.

That’s an opinion, in my opinion, not an obvious “flaw” that can be logically argued.  For your premise, that “Bitcoin’s main capability” is in its “ability to prevent double spending,” you are correct, MSC does not leverage this capability yet.  But that doesn’t mean that it won’t in the future.

We’re just beginning to scratch the surface of what effects “conditionality” can have on trustless transactions on an open, secure ledger.  Time will tell, but more will come.

If you’ve got any ideas, let us know.  We strongly believe that our critics will be our strongest influence in making the Master Protocol become more advanced with more useful features.  The more masterminds the better, so please continue providing your feedback, and consider contributing to the effort by offering your criticisms in an actionable way.

Thanks,
Craig

I crunched some numbers on the IPO, assuming 17000+40% for BTC and 3400+40% for MSC, and I'm not getting quite the same limits as announced here.

At this time we have total donations of:

MSC: 94237 = 448 570 425 Safecoins
BTC: 6132.88 = 145 962 544 Safecoins

The Safecoins going to BTC investors will come from the Safecoins bought by Maidsafe using their loaned MSC. The sum of transactions from the Maidsafe address which has so far donated 32 925 MSC=156 722 146 Safecoins.

This means the total remaining Safecoins to be handed out to BTC investors are:

156 722 146 - 145 922 544 = 10 759 602 Safecoins

This is equivalent to another 452 BTC. In other words, the total BTC accepted for investments should be:

BTC total: 6548.96

Another interesting observation: only 35% of the fund-raiser was funded through BTC, the remaining 65% going to MSC investors. Of those 65%, a whopping 85%, or 248 million Safecoins, went to 15 adresses.