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ChuckOne

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THE CHARITY HUB
« on: May 23, 2014, 01:46:38 pm »

The Charity Hub

For those who believe in decentralization: I got a hub running 24/7.

You can lease your NXTs to NXT-8N9W-TN4F-YA2S-H5B7R (Numeric ID: 18128435238506025212)

Simple Rule1: You donate your forged fees to the current beneficiary.

Current beneficiary: Devs + Bounties

If you want your forged fees paid out to somewhere else just tell me (e.g. via PM, message system of Nxt, email, jabber). :)
(That is only possible if your effective balance forged more than 1 NXT.)

Commission for the Hub: 15%

1Credits go to gs02xzz who had this nice idea what to do with your forged NXTs: https://nxtforum.org/news-and-announcements/chuckone's-hub/msg32081/#msg32081
« Last Edit: November 23, 2014, 11:38:32 am by ChuckOne »
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gs02xzz

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Re: ChuckOne's Hub
« Reply #1 on: May 23, 2014, 01:54:17 pm »

What is your numeric account #?
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MrV777

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Re: ChuckOne's Hub
« Reply #2 on: May 23, 2014, 01:56:11 pm »

Sorry if this is obvious, but I must have missed it.
Can you elaborate what a hub is?

Thank you!
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ChuckOne

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Re: ChuckOne's Hub
« Reply #3 on: May 23, 2014, 01:56:54 pm »

What is your numeric account #?

Funny, is was thinking about including this but I thought it is not necessary. :) Thank you for proving me otherwise:

18128435238506025212
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ChuckOne

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Re: ChuckOne's Hub
« Reply #4 on: May 23, 2014, 01:57:59 pm »

Sorry if this is obvious, but I must have missed it.
Can you elaborate what a hub is?

Thank you!

A hub is a pool. It is an account that is unlocked on a node.

To this account everybody can/should/would/may lease part of their forging power to secure Nxt.
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MrV777

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Re: ChuckOne's Hub
« Reply #5 on: May 23, 2014, 02:00:24 pm »

A hub is a pool. It is an account that is unlocked on a node.

To this account everybody can/should/would/may lease part of their forging power to secure Nxt.

Thank you for the information, that makes sense now.
Would it help the community if I set any hubs up on the two public nodes I am currently running on VPSs?
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ChuckOne

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Re: ChuckOne's Hub
« Reply #6 on: May 23, 2014, 03:03:05 pm »

Thank you for the information, that makes sense now.
Would it help the community if I set any hubs up on the two public nodes I am currently running on VPSs?

Of course. :)

A short explanation what would help the community most:

So, if you operate two nodes, you could use one of them to unlock one hub account on it.

Why not having two hubs on two nodes?
Because you control both nodes and therefore both hubs. So, from a decentralization point of view, it makes no difference.
If you unlock an account on a node, the node (and respectively the node operator) has control over the account because the private key was sent to the node.
The only advantage of having two hubs on two nodes were that if one of your nodes goes down, the other hub is still forging.

Why not unlocking the same hub on two different nodes?
Could cause problems if you are not able to synchronize between both nodes which one is actually generating the block. This could cause nasty forks. That is not good for the hubs' reputation.

This is why we need more different people setting up different hubs on different nodes. :) If you find them, you now know what to teach them.
« Last Edit: May 23, 2014, 03:09:18 pm by ChuckOne »
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mczarnek

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Re: ChuckOne's Hub
« Reply #7 on: May 23, 2014, 03:13:47 pm »

You earn my transaction fees from this leased forging right?

Still might be worth it to help secure the network, especially for anyone not forging otherwise but if I join a forging pool, I want to be paid!
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ChuckOne

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Re: ChuckOne's Hub/Pool
« Reply #8 on: May 23, 2014, 03:29:14 pm »

You want to gain some interest on your NXTs, right? Suggest a model. :)
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mczarnek

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Re: ChuckOne's Hub/Pool
« Reply #9 on: May 23, 2014, 04:18:23 pm »

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ChuckOne

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Re: ChuckOne's Hub/Pool
« Reply #10 on: May 23, 2014, 04:28:11 pm »

You want to gain some interest on your NXTs, right? Suggest a model. :)

Already did:
https://nxtforum.org/infrastructure-committee/suggestion-to-create-a-bounty-to-reward-leasing-forging-hubs/msg27374/


Looks good. No human intervention needed. :)

Until we have smart leasing, I would need to do it semi-automatically via a script once in a week.

Initial cut for the hub: 15%. Let us see which Nxt projects we can do with those 15%. :)
« Last Edit: May 23, 2014, 04:38:01 pm by ChuckOne »
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gs02xzz

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Re: ChuckOne's Hub/Pool
« Reply #11 on: May 26, 2014, 01:16:12 am »

It seems that leasing is not available yet. I can't find it on the client.
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ChuckOne

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Re: ChuckOne's Hub/Pool
« Reply #12 on: May 27, 2014, 08:02:36 pm »

Dashboard -> Account Balance -> Account Leasing -> Lease your balance to another account
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gs02xzz

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Re: ChuckOne's Hub/Pool
« Reply #13 on: May 28, 2014, 01:43:46 am »

Dashboard -> Account Balance -> Account Leasing -> Lease your balance to another account

Thanks and I am going to lease some Nxt to your hub. I have couples of questions:

1) when a leasing period ends, will the leased Nxt automatically come back to my account? If so, how long will it take to be come to my account?
2) when the leasing period ends, if I want to keep doing the leasing, do I have to wait my Nxt to come back to my account and lease it out again or I can renew the leasing before it comes back to my account?
3) what does the Deadline mean on the leasing screen on the client?
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Eadeqa

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Re: ChuckOne's Hub/Pool
« Reply #14 on: May 28, 2014, 01:49:41 am »

1) when a leasing period ends, will the leased Nxt automatically come back to my account? If so, how long will it take to be come to my account?

Nxt never leave your account. You always have fully control on your balance, including spending them if you want. You are just leasing forging power.

Quote
3) what does the Deadline mean on the leasing screen on the client?

This is nothing relevant. It just means if the transaction is not included in a block by forgers in that amount of time, it will become invalid. Just keep it at 1 which is default.
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gs02xzz

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Re: ChuckOne's Hub/Pool
« Reply #15 on: May 28, 2014, 03:02:21 am »

Nxt never leave your account. You always have fully control on your balance, including spending them if you want. You are just leasing forging power.

Did you mean that during the leasing period I can still spend my leased Nxt? I remember that someone mentioned that once a person has leased his Nxt he can't cancel the leasing.
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Eadeqa

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Re: ChuckOne's Hub/Pool
« Reply #16 on: May 28, 2014, 03:12:18 am »

Did you mean that during the leasing period I can still spend my leased Nxt? I remember that someone mentioned that once a person has leased his Nxt he can't cancel the leasing.

There is a difference between canceling the lease and spending Nxt. Yes, I am pretty sure you can still spend Nxt. That will affect the leasing power of the leased forger, though.   

If this info is incorrect, someone correct it please.
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ChuckOne

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Re: ChuckOne's Hub/Pool
« Reply #17 on: May 28, 2014, 04:39:08 pm »

Eadeqa is correct.
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ChuckOne

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Re: ChuckOne's Hub/Pool
« Reply #18 on: May 28, 2014, 04:40:59 pm »

@gs02xzz

You said you want to lease some NXTs. If you do not wish to lease all of you NXTs to a single hub, you need to create a new account for this and transfer the specified amount to it.

You can only lease ALL NXTs in an account to another account.
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gs02xzz

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Re: ChuckOne's Hub/Pool
« Reply #19 on: May 28, 2014, 04:56:04 pm »

@gs02xzz
You said you want to lease some NXTs. If you do not wish to lease all of you NXTs to a single hub, you need to create a new account for this and transfer the specified amount to it.
You can only lease ALL NXTs in an account to another account.

OK. I will lease a small amount account first then another account with more Nxt later. Btw, regarding the leasing period, is there a limit for how long time you can set for your leasing?
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