On the contrary, I want to rescue the computing power that is being wasted mindlessly calculating hashes. My first coin will actually productively use the computing power to solve business problems, or at least problems that directly map to a business solution. Also, instead of having 99.9% of the calculations being wasted (there is only one winner per block), my coin will have just a three way redundancy. That allows it to validate results without an unacceptable loss from redundancy.

For better or worse, the mining industry has created a monstrous computing machine. Giga, tera, peta(!) and beyond. However, all that computing on something that has no real world value. What if we can get 33% efficient use of all that computing power? How much is it worth to a business to tap into that computing power?

The market is built in for my business coin. Business will pay for the computing power in NXT(!) and this NXT gets distributed to the miners on a prorata basis as their holdings. This also means that the business that is paying for the computing power can get a discount by purchasing the business coins.

I need to finish the automated gateway so I can start on the NXTcoin platform. Actually, the code base will have a lot in common as creating peer reviewing gateways is really the same thing as peer reviewing the coins in circulation. The really cool thing is that I get to tie all the various things I am interested in and combine them all into a three layer NXTcoin system, which helps NXT network and price demand.

James

I have the active 0.8.1.e client and I can not connect through the client file :/ C :/ nxt html tools dev dev index.html #

Just curious, when you say that miners would receive Nxt per their holdings of Nxtcoin, where would this Nxt come from?  

So start.....what can u do?

And to anyone and everyone sitting on the sidelines: GET INVOLVED !

Every small contribution helps.
If u want to actively help NXT:  get off yr ass, look around, find somewhere u can help and dive on in.
Don't hang back because u might not want to look foolish or make a mistake.
No one here is perfect, (except me, of course), just do your best.

P.S. I am looking for people to help me with my business coin. I think I can do most all the tech myself as all the hard work is already done with NXT. I just dont have the skills to do a decent website, nor the time to market this.

Surely, no one sitting on the sidelines can resist such an invitation. One humble question: does translating around 500 wiki entries count as an involvement?

My remark about "anything useful" meant that I'm really interesting in constructing a reasonable math model to estimate probabilities of a successful attack on the network, but didn't yet advance too much on this.

Hi James.

Very good idea. I can help you getting attention in Germany. Will write about this in my blog.