Quote from: Vega on June 08, 2014, 06:17:14 AM

Quote from: chris.capossela on June 08, 2014, 05:15:42 AM

Quote from: Daedelus on June 07, 2014, 10:21:46 PM

Quote from: chris.capossela on June 07, 2014, 02:18:13 PM

Quote from: Daedelus on June 07, 2014, 11:08:56 AM

Quote from: chris.capossela on June 07, 2014, 10:33:27 AM

Thank you for your insightful post, Blazin604. This is very true.

Which bit?

The fee argument.

It is out of date. MinFeePerByte was already agreed when the original post was made by BrianNowhere and will be part of the next release.

Thanks. One argument was that PoS achieves low transaction fees (no energy cost), but reality proves it needs enough incentive to secure the network was interesting.

In the early days forging was portrayed as means for profit, just like putting money into miners for PoW, but since then it became clear that Nxt forging produces minimal return. The true incentive for forging is to secure your investment while doing it.
Normally this would not necessary be enough incentive to create a sizeable, healthy network. But here is where thinks get interesting. Nxt is not simply a coin (thats the reason why it's not NxtCoin), but a platform. People can and do built business, services, even other (PoW) coins on top of it, and they are highly motivated to secure the network.

A seen a lot of people who used to the idea and practice of mining look at Nxt, and be disgusted that there is no money to be made that way with Nxt. That's because Nxt is truly something new with new possibilities, you have to look at it with different eyes.

In regard to the incentive for forging being securing one's investment, I strongly recommend adopting a "cold-forging" feature because the psychological fear of theft is huge when forging online.

chris.capossela

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