You need to be synced before you can produce blocks. It normally (all the time for me) requires a restart.

Also make sure you have ntp intalled

apt-get install ntp

Quote from: CoinGame on September 06, 2015, 11:24:43 pm

[...]but it's nice to see ponzi scheme isn't being thrown around so loosely anymore.

I wouldn't hold single individuals responsible for a whole community!

Quote from: tonyk on September 07, 2015, 07:14:39 am

Quote from: xeroc on September 07, 2015, 07:09:24 am

Aren't you doing almost exactly what FED is doing?

Nooo! The difference is, they announced to the  public they are accepting private bids for their own 'feds' chairs. The Fed on the other hand starts the process by sending private invitation for the corresponding private auction. 

If you translate the 'feds' chairs to NuShares, then yes, I agree.
Everybody can have such a chair. They can be bought at exchanges.

Initially they haven't been distributed freely to everyone, but more like the fed approach: invitations to people.
It was argued that this was necessary to bootstrap the whole thing and I agree that giving the chairs to people who might be in for the long-run rather than a quick buck was helpful to get the ball rolling.
While one can find that segregating, a wide distribution was ensured to make sure the chairs are sufficiently decentralized.

Nu is not just a regular coin, but a corporation. While I might find it unfair how it started and that not everybody could be in from the start, I did not make the rules; rules which helped Nu get where it is today: having issued a stable crypto currency that has kept the peg closely for almost one year.

Regarding the mechanisms with that Nu controls NBT supply to keep the peg stable I might need to expand the scope.
Nu is run by the 'fed chairs', the NSR holders. Nu is using a PoS process.
NSR holders that mint can cast votes each time they successfully mint a block.
One type of vote is a custodial vote.
With such a custodial vote NBT can be granted. They appear from thin air by protocol on the custodial grant address as soon as 5,001 blocks in the last 10,000 consecutive blocks carried such a vote.
They are sold by the custodian and the revenue is meant to be distributed to the NSR holders, spent for development, spent for paying liquidity providers, etc. (whatever the intention of the custodial grant was).
This way new NBT get into circulation.

To reduce the number of circulating NBT there are basically two ways.
One is reducing the number of NBT only temporarily and in the end creates even more NBT: parking.
Parking removes NBT (as far as I understand they are destroyed and created again (including the parking rate interest) after the parking period has ended), but only temporarily. Parked NBT will come back to haunt the network with even more NBT, because they generate a parking interest (which is voted for by, guess whom: the NSR holders). Parking was the reason why Nu was accused of being a ponzi scheme.
Without mechanisms to reduce supply permanently this accusation would have been fair.

Which leads us to permanent removal of NBT: burning.
NBT burning has been available right from the start of Nu. A convenient, reliable, decentralized mechanism to fuel the burning was missing, though.
The NSR holders understood that and made the developers create another type of grant: NSR grants. NSR holders can vote for NSR grants like they can vote for NBT grants.
The same rules that apply to NBT grants are in place: 5,001 of 10,000 blocks are required, issued NSR are created by protocol at the NSR grant address.
The NSR custodian sells the NSR, buys NBT and burns them. An example has been given by @CoinGame
Tada!

Any more questions?

Thanks for the explanation

The mumble unedited (if you cannot wait for fuzzys edited nice version) here https://www.dropbox.com/s/rjbxqvsuduopmj8/Mumble-2015-09-04-15-03-34-mumble.beyondbitcoinshow.com-Mixdown.mp3?dl=0

So a couple people have said they are sending me CORE via flood scripts or otherwise. I haven't received any since I ran out of my original funds. If it's the case that no one has sent CORE to riverhead that's cool but I just want to make sure it wasn't sent and not received.

My witness node is sync'd and seems to be on the active node. Anyone else having trouble receiving funds?

I sent (flood) you lots yesterday, did you get any?

Still not able to vote:

Code: [Select]

Insufficient Balance: calabiyau's balance of 0.02025 CORE is less than required 20.05761 CORE\n
CORE seems to be already a scarce resource    - WORKING FOR CORE

flooding everyone who have asked now 10 each every 5 seconds

Witness ID:     1.6.1063 
Witness Acc:  1.2.14540

Some votes and CORE for "calabiyau" would help to join the party.......

ill flood you some and see if they arrive

Running xeroc's spam food.py my client (running on a different computer than the witness):

Code: [Select]

1058066ms th_a       wallet.cpp:1574               sign_transaction     ] Caught exception while broadcasting transaction with id 17fb6ef2ebb8dbbe3c8ff81416f1398889c152c6


Im running everything on the same server, and so far good. I have increased it to 30 tx.

To join the flood.. you use this instructions to setup in ubuntu
https://github.com/cryptonomex/graphene/wiki/How-to-setup-your-witness-for-test-net-(Ubuntu-14.04)

Once ready you can use xerocs python script for flooding.  Instructions:

Open screen
screen
Run cli wallet with -H 127.0.0.1:8092
./cli_wallet -w test_wallet  --chain-id ecbde738ba0b319cb4d266e613b200d010da8b37313c20aec03f9c8e2d9b35e3 -H 127.0.0.1:8092

unlock your wallet

Detach screen
Ctr A Ctr D
Install python dependencies
sudo apt-get install python3-setuptools
sudo easy_install3 pip   
sudo pip3 install autobahn 
sudo pip3 install requests   

Clone and build python graphene api
cd ~
git clone https://github.com/xeroc/python-graphenelib.git

cd python*

python3 setup.py install --user 


Edit the flood script to configure your user

cd examples

nano flood.py

edit client.transfer("putyouruserhere

exit save

Run the flood script
python3 flood.py