Buying 60,000 timelocked NPT for 15,000 liquid

Trade
1

I am looking for a miner or mining pool who want to sell their timelocked coins. The offer is:

  • You mine to my address. I keep the timelocked coins, and you get the liquid sent back quickly.
  • I keep 60,000 timelocked NPT
  • You receive 15,000 liquid NPT (as well as the above-mentioned liquid mining rewards that you mine to my address).

This is me as an individual, wanting to make this trade. It does not involve Neptune Cash as an organization or the founding company Triton Software AG.

DM me if you’re interested. Then we can exchange addresses, and I will mark this trade as filled.

For technical details about how to achieve this, see:

1 Like
Solutions to the problem of centralized, timelocked mining rewards
2

Now I understand — and that is actually a great point.

But let’s step back from the individual perspective and look at the bigger picture.

Let’s return to discussing the project for a broad audience of users and focus on improving it from a long-term perspective. The timelock mechanism is not a flaw to be worked around — it is a foundational design choice that protects the entire ecosystem. The goal should be to strengthen that vision, not dilute it.

3

I’m trying to show solutions to the problem of centralized timelocked mining rewards. But let’s keep the philosophical discussion to the other thread.

This offer stands.

1 Like
Solutions to the problem of centralized, timelocked mining rewards
4

I’m very happy to announce that this bid has been filled. The mining pool @drpool sold 60,000 timelocked NPT to me in return for 15,000 liquid NPT.

Moving forward, trades like this can hopefully reduce the problem of big, centralized, timelocked NPT bags.

Since drpool is not constructing their own block proposals, the solution we used is that they mine everything to an address controlled by my running instance of neptune-core, and then I send all liquid NPT back to them through the --auto-consolidation=<mining pool address> flag. This way, @drpool automatically receives all their liquid NPT everytime N blocks have been mined by them, thus making their counterparty risk that of ~N blocks of guesser rewards. If I were to cheat @drpool, or fail to maintain my end of the deal in any other way, @drpool could realize so within around 24 blocks, since that’s how often the consolidation process runs with my setup.

If drpool was constructing their own block proposals, they could completely eliminate this counterparty risk, as block composers have the option of sending all timelocked rewards to one address, and all liquid rewards to another address.

I use a modified NeptuneWallet program to pay for the timelocked coins. NeptuneWallet can import a viewing key of the address that the mining pool mines to. This gives NeptuneWallet a “watch-only” address it monitors. Then by setting up a “payment policy” associated with this “watch-only” address, a wallet controlled by NeptuneWallet can automatically send the mining pool the payment of the timelocked NPT. The payment from this wallet was made from a separate account, not the one used by my neptune-core instance.

Notice that setting the `–auto-consolidation` policy sends all liquid NPT to that of the mining pool, not just those mined by the mining pool. So the node’s wallet cannot be used for any other payments, as long as these trades are ongoing.

The modified version of NeptuneWallet that supports “watch-only” payment policices can be downloaded here: