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5 Million NXT bounty for Nxt & Ardor Forgers
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Author Topic: 5 Million NXT bounty for Nxt & Ardor Forgers  (Read 107697 times)

farl4bit

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #220 on: July 25, 2016, 12:09:26 pm »

Forging Bounty Campaign Update

Good job forgers/stakers/whater-you-prefer-to-call-yourself! We now have 284 online public nodes, 384 active forgers with a collective forging power of over 404M. We still have a long way to go before reaching the stated goals.

From block 870400 to 881723, the bounties were handed out pseudorandomly using a manual process and was partially documented here.
Thanks to ScripterRon who has developed a new GetNextBlockGenerators API for the nrs, and to lurker10 who has developed a script to automate the transactions with the bounty fees, this campaign is now fully automated and transparent.

Lurker10’s “Bounty Script v0.2” file “bounty-0.2.tar.gz” has been uploaded to our very own Data Cloud. Here’s how the Forging Bounty works.

At a random time, the script gets a list of the top 5 deterministic forgers for the next block.
It then checks if the top 1&2 (and sometimes 3) forgers in that list are all eligible to receive the bounty for that block by comparing their Effective Balances (EB) against a preset value (MaxEB). If they are, a Message is sent with an exceptionally high randomly generated fee. If the first on the list is forging, that account will receive the bounty. Otherwise, it goes to the next in line.

For transparency, the Message contains the parameters that determined the forgers eligible to receive that block’s bounty, comprising:
MaxEB: Maximum EB (This helps skew bounty in favour of smaller accounts)
Pool: 1 or 0 (1=Pools always eligible regardless of EB, 0=Pools have no special privileges)
S: 1-3 (Strictness: Number of top 5 deterministic forgers that must be eligible)
MaxFee: Maximum fee bounty for that block
Ratio: Day x N (On certain day of week, multiplier N is applied to MaxFee).

These parameters are changed from time to time to reduce predictability and enhance distribution.
Pool operators who have not registered their forging addresses are encouraged to do so to benefit from exemption of MaxEB.

TLDR version: Smaller accounts forging 24x7 have a good chance of receiving bounties. Accounts with EB > MaxEB receive the bounties if the smaller eligible accounts missed their opportunity to forge. It is quite futile for larger accounts to split into many smaller accounts because MaxEB & Strictness (S) parameters are changed sporadically AND the fact that deterministic forging order of the network favours a single account versus multiple accounts with same EB.

Account Sending out Messages with Bounty Fees: NXT-G98N-SZGX-Z8ZA-9HNY6 (Forging Bounty Auto)
Funding Account : NXT-HH9F-JMRB-6HRD-HD5ZW (Forging Bootstrapper)
Funding Mechanism: Automatically done using NRS Account Property & Funding Monitor Smart Transactions.
Lurker10's Lucky Node Lottery account NXT-8F28-EDVE-LPPX-HY4E7 is also funded by NXT-HH9F-JMRB-6HRD-HD5ZW using Funding Monitor.

A list of all automated transactions (including test txs) until block 885762 is available here. This is a static page and will not update.
A list of most recent Bounty transactions is available at http://192.3.196.10:7876/stats.html This list is always updated.
Since the start of Ardor snapshot period, over 80,000 NXT has been distributed. Here's the most recent snapshot showing last 50 forgers awarded the bounties.



Thanks for the info sharky!  ;D
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galeki

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #221 on: July 25, 2016, 03:19:24 pm »

Very good job! :D

And by the way I saw a lot of people stuck at the node configuration.

Maybe we should package a 'nxt-default-for-public-node.properties' in the next version?  ::)
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mortimermouse

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #222 on: July 25, 2016, 05:08:33 pm »

Very good job! :D

And by the way I saw a lot of people stuck at the node configuration.

Maybe we should package a 'nxt-default-for-public-node.properties' in the next version?  ::)

yes please! -- and some way to validate you're doing the right thing for n00bs like myself  :P
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nikauforest

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #223 on: July 30, 2016, 03:30:07 am »

Hey everyone , I have been away for a few years.
I just started the first node in New Zealand. I am running a Rasberry Pie.
(look for New Zealand on peerexplorer)

I have been running for a week now. When I have to reboot I will try and get Open API working.
I think I have most settings correct and Port Forwarding appears to be ok. I need to dig a little deeper and see what is happening.

I would really like NXT and Ardor to succeed and gain traction.
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #224 on: July 30, 2016, 09:34:02 am »

80 nodes have been regular participants of the Lucky node lottery in the past few days. We're within a spitting distance of one hundred, keep adding them! :)
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NxtSwe

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #225 on: July 31, 2016, 11:18:02 pm »

There's currently around 400M active stake according to nxtportal.
5M has been donated.
400 / 5 = 80

So basically, anyone can increase their holding by 1/80'th (or 1,25%) of their current NXT holdings by forging, assuming the algorithm does a fair job being somewhat random, and the active stake being around 400. It might even be more if some big whales choose to opt out.
With opt out whales the math should be (400 - opt out whales that forge) / 5

I was talking to some friends of mine who I lured into lately, who claim to follow what's going on, but they had missed this. Is this something only we "insiders" know about and really understand what it means?
Maybe we should push this more on the forum/bitcointalk/slack/polobox to get more people aware.
And by that I mean in a way that non-NXT'er can comprehend, as in:
"Someone is giving out free NXT, if you already own NXT and put it to work. Here's a guide how you can participate."
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #226 on: August 01, 2016, 05:44:50 am »

There was an issue with the node last night, I've had to force run one missed lottery round.
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beammeup

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #227 on: August 05, 2016, 05:25:00 am »

I am running a node and have been forging for 2 weeks now. I would like to participate in these bounties and would like to hallmark my node but my isp provider only runs dynamic ip addresses. My external ip changes every 1 or 2 days. Is there anything I can do?
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #228 on: August 05, 2016, 05:57:20 am »

I am running a node and have been forging for 2 weeks now. I would like to participate in these bounties and would like to hallmark my node but my isp provider only runs dynamic ip addresses. My external ip changes every 1 or 2 days. Is there anything I can do?

Dynamic DNS configuration:
You must sign up for a dynamic dns service:
http://freeddns.noip.com/
you will get your own dns name after you have signed up, for instance: beammeup.ddns.net
They will offer auto-updater software that you need to install which will automatically re-map your dns name to the ip address every time ISP changes the ip.

Node configuration:
- Create a hallmark for your dns name instead of for ip, the hallmark goes to nxt.myHallmark property.
- Place your dns name in nxt.myAddress property.
nxt.myAddress=beammeup.ddns.net
in the nxt/conf/nxt.properties file.

Other settings:
open port 7874 for the world, and port 7876 for openAPI, see the link in my signature for directions to configure other settings and services.
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beammeup

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #229 on: August 05, 2016, 08:34:33 am »

OK great seems to be working alright. Not sure how to set up the noip to start when I boot my computer though
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gurila

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #230 on: August 05, 2016, 11:55:00 am »

Hello,

I have a problem, I think everything is well configured but do not appear in the lottery draw or win nsc, attached the conf file, thanks.

nsc.now.im:7876/nxt?requestType=getPeer&peer=%2081.203.18.127
nsc.nxt.org:7876/nxt?requestType=getPeers&active=true

www57.zippyshare.com/v/MpBxgd5A/file.html

Post data: I have nxt.admin.password
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #231 on: August 05, 2016, 01:11:20 pm »

Hello,

I have a problem, I think everything is well configured but do not appear in the lottery draw or win nsc, attached the conf file, thanks.

nsc.now.im:7876/nxt?requestType=getPeer&peer=%2081.203.18.127
nsc.nxt.org:7876/nxt?requestType=getPeers&active=true

www57.zippyshare.com/v/MpBxgd5A/file.html

Post data: I have nxt.admin.password

I looked up your IP. It does participate in the Lucky node lottery. Be patient.
As for NSC, try asking in https://nxtforum.org/index.php?topic=9828.0
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #232 on: August 09, 2016, 06:04:03 am »

The Lucky node lottery will be running 3 extra rounds at 20:00, 0:00, 4:00 UTC for the daily total of 15 rounds.
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #233 on: August 13, 2016, 05:17:02 pm »

Breaking news!
We have just hit the 100 nodes milestone for the Lucky node lottery. Are you in? ;)
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farl4bit

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #234 on: August 13, 2016, 11:54:16 pm »

Breaking news!
We have just hit the 100 nodes milestone for the Lucky node lottery. Are you in? ;)

Great news! Thanks for all your work! Nxt is getting stronger everyday.
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #235 on: August 15, 2016, 02:01:45 pm »

The Lucky node lottery account is dry. I've messaged Megalodon, waiting for him to fund the account and payouts will go on, don't stop nodes yet :)
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result

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #236 on: August 15, 2016, 02:10:02 pm »

Thank you lurker10 for your effort! I really have to say that I personally find your "Lucky Node Lottery" the most rewarding program at the moment. It is easy (you get the NXT straight into your account), it is not completely predictable (always fun and motivating to see a surprise transaction) but you still win frequently enough to keep you in the game (usually at least once a week).

I feel that is part of the reason why we see the number of nodes increasing while the number of forgers actually has been stalling for the last three weeks. If we take a look at the stats of the big bounty program the average Eff. Balance is 5,820,871 NXT and the majority of winning accounts have at least 1 million NXT. Since there are only round about 150 accounts with more than 1 million NXT in it, the goal to increase the active forging power to 65% seems a bit unrealistic with this kind of distribution pattern.
« Last Edit: August 15, 2016, 02:17:06 pm by result »
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #237 on: August 15, 2016, 02:16:46 pm »

Thank you lurker10 for your effort! I really have to say that I personally find your "Lucky Node Lottery" the most rewarding program at the moment. It is easy (you get the NXT straight into your account), it is not completely predictable (always fun and motivating to see a surprise transaction in your account) but you still win frequently enough to keep you in the game (usually at least once a week).

I feel that is part of the reason why we see the number of nodes increasing while the number of forgers actually has been stalling for the last three weeks. If we take a look at the stats of the big bounty program the average Eff. Balance is 5,820,871 NXT and the majority of winning accounts have at least 1 million NXT. Since there are only round about 150 accounts with more than 1 million NXT in it, the goal to increase the active forging power to 65% seems a bit unrealistic with this kind of distribution pattern.

All credit goes to Megalodon who makes this possible.

Perhaps other whales can provide temporary funds while we're running on fumes here. The lottery jar account is in my signature. Thank you.
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lurker10

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #238 on: August 16, 2016, 11:11:35 am »

The Lucky node account is funded again. About 15 payments were missed, going to force send them over the next few hours.
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4747...888

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Re: 5 Million NXT bounty for Nxt & Ardor Forgers
« Reply #239 on: August 17, 2016, 10:34:21 am »

Forging bounty bot get crazy.
Will return fees after it stops sending prizes in my blocks.
« Last Edit: August 17, 2016, 10:40:58 am by 4747...888 »
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