Bitcoin Forum

About Nostrum
Nostrum is a new peer-to-peer decentralized crypto currency coded from scratch in C++
Reward type: Proof-of-Stake
Block time: 1 to 3 minutes per block
Confirmations: 4
A currency only has value if it is widely accepted as payment for goods and services. Nostrum, with the help of "Reserve Value" formula and a bunch of Nos-related services (Nos-Store, Nos-Job, Nos-Ex, Nos-Bet), is able to achieve this.

Participate in Nostrum ICO:
There are 2 ways to join the ICO. Through the ICO feature inside wallet or through an escrow service.
1. Use the in-wallet ICO feature, you will receive NOS immediately after payment. Go here for instructions: https://bitcointalk.org/index.php?topic=760473.msg8574661#msg8574661

2. Participate through an escrow service provided by SebastianJu (https://bitcointalk.org/index.php?action=profile;u=18640), you will receive NOS after all the Nos-services and Reserve Bank are implemented (which take approximately 3 months). Escrow details:
Nostrum Unique Features

• Nostrum Reserve Value. (in-development)
• Network-wide chat system. (implemented)
• In-wallet coin distribution.  (implemented)
• Mobile wallet for instant payment. (in-development)
• Anonymous transactions. (in-development)
• Nos-Store. (in-development)
• Nos-Job.(not yet started)
• Nos-Bet (through Tor network). (not yet started)

Reserve value
Each unit of Nostrum has it owns reserve value which is the value when the user obtained the Nostrum. The purpose of reserve value is to secure the concrete value of Nostrum, regardless the fluctuation of the price.
Calculation formula:
  + Reserve Value = Total Nostrum x Purchased Price
  + Tradable Nostrum =  Total Nostrum / (Current Price / Purchased Price)
  * If current price is lower than the purchase price, there will be no Nostrum can be sold
Tradable Nostrum is the quantity of Nostrum that can be traded.
Example: Coraline bought 500,000 Nostrum at the price of 0.1 USD. Now the price rises to 0.4 USD she is planning to sell off some of the Nostrum
      + Nostrum Reserve Value: 500,000 x 0.1 = 50,000 USD
      + Current Nostrum Value: 500,000 x 0.4 = 200,000 USD
      + Tradable Nostrum: 500,000 / (0.4/0.1) = 125,000 Nostrum
Coraline can now sell 125,000 Nostrum to recover her initial investment and still has 375,000 Nostrum to spend on whatever services she likes in the Nos-network. Remember, those 375,000 Nostrum can't be exchanged to cash, it can only be used as payment.
In case the price drop below Coraline's purchased price which is 0.1 USD. Coraline can't sell any of her Nostrum, this will prevent the price to fall any lower. But Coraline still can use her Nostrum as payment for the Nos-serverices

Thanks to the Reserve Value formula, the price of Nostrum is predictable and would look like this:

The https://i.imgur.com/W8QwF2q.png is the point where Nostrum hit its highest price and people start losing interest in it. Therefore, the price will start falling untill it hits the https://i.imgur.com/prB22o5.png when nobody can sell anymore Nostrum. At this point, Nostrum can still be used as a payment method for services and goods, this will help Nostrum to gain interest, people start buying in and the price will rise higher until it hits another https://i.imgur.com/W8QwF2q.png point and fall to another https://i.imgur.com/prB22o5.png point, and so on...

Nostrum Usage and Future Plans
Nostrum can be used widely in the Nostrum-network and local stores.
Nos-Store: An Online Shopping platform with excellent Brand Strategy for cooperations .
Nos-Job: An online platform for hiring and working as a freelancer.
Nos-Bet: Like silkroad, but for Gambling. Gambling is still illegal in many countries. But with Nos-Bet, a betting system that hide under the tor network, the identity of its users are secured.
Mobile Wallet: With just a few clicks, you can start accepting and using Nostrum in local stores.

Download

Reserved for FAQ
1. How to join Nostrum distribution in 4 steps:
https://i.imgur.com/01u56SW.png
https://i.imgur.com/YvFBPYX.png
https://i.imgur.com/xwGKxmg.png
https://i.imgur.com/yu2WpZ2.png

2. How many Nostrum will exist?
The total amount of Nostrum depends on the result of ICO Beta state. Every coin that is not sold in the Beta ICO will be destroyed. A temporary block explorer will be set up so you can track the distribution process.

3. When will ICO ends?
It will end when these services are up and running:
1. The Reserve Bank.
2. The Nosjob service.
3. The Nosstore.
Which takes approximately 3 months.

Nice. cant wait!

What do you mean?

Questions:

a. Why close the last thread?
b. how do you make sure the profit NoS cant be exchanged for money? Are you going to pass in the exchange feeds to the wallet and control the amount which can be taken out? Or you are not gong to let it be listed on exchanges?
c. If the price is falling, which can also happen due to people loosing interest in the coin, what is your backup plan?
d. What is the target total number of coins?

What is with the ICO? 500 satoshi starting based on what exactly? Syscoin sold for 500 satoshis and still struggling to recover ICO prices.

a. People start spreading FUD without even read through the whole announcement. We decided that a moderated thread is needed to focus only on serious discusions (like yours).
b. The profit Nos can be exchanged for anything (goods, services, money, etc..) to a third-party if they like. But they can't be sold into the reserve bank. We will use the digital signature to ensure that an address can only sell within their tradable Nos amount to the reserve bank. Meaning: NOS which are transacted into another NOS address can't be sold.
c. Can you clarify what do you mean by "which can also happen due to people loosing interest in the coin" ?

Edited:
For you 4th question: The total number of NOS depends on the amount of NOS sold during the Beta ICO.
And the last question: I recommend you thread through the Reserve Value section again. We won't need to recover to the ICO price because it is already the floor price thanks to the Reserve Value formula

So how do we get in?  Don't see any IPO info, or is the distribution done already?

You can join by using the beta ICO tab inside the wallet.

How is taking away someone's ability to sell a prominent feature in your coin?
Maybe I don't understand.. You are essentially locking people into a coin whether they want to be in it or not?

Say someone bought at 10k and then someone dumped coins they bought at ico price.. Now that person who bought at 10k is stuck and cant sell unless someone buys up to 11k... which would allow the 10k buyer to sell a whopping 10%?

I can see why this thread is moderated..

+1

You missed one point. In order for the price to drop below the ico price. All of the ico stakeholders must dump all of their coins. So, in your case, the price only drop below ico price if both who whole 10k NOS dump their coins.
The reserve value is meant to give Nostrum a value, not to lock people's ability to sell. They are free to do anything they like with their coins through a third-party, but their coins' value is guaranteed.

watch this coin.

Really don't want to have to install a wallet just find out about the IPO and costs!  Can you just post this information in the OP for all to see?!

Updated the FAQ section for your request

Thanks!

How long until all of the features are implemented?

I read your post history, there is nothing except asking for giveaway, can you explain it?

You will receive Nos immediately after payment so there is no need to use escrow at this state.

How long will the ICO run for ?

Seems innovative !

I got some questions listed below :
Which is the total coin supply ?
Is it POS only with 100% of the coin supply generated on a genesis block (similar to nxt) or new coins are generated each block (similar to Peercoin) ?
Is there an interest rate for the POS ? If yes then which is the interest rates exactly ? Are they known ?
Is the a transaction fee ?
One last question regarding the services that seems to be on top of Nostrum.Are there gonna be fees ? If yes, those fees will be distributed to
forgers as interest rate ?

Thanks

Honestly it looks and sounds like really nice ideas and features, but the distribution "feature" of buying coins directly from you (non-escrowed) is scary.

I cant find some basic algo for this coin..
Can dev tell me?

1. total coins ?
2. how much ICO coins ?
3. No POW only POS ?
4. There still no blockexpoler, right?

Thanks :)

Nostum old thread: https://bitcointalk.org/index.php?topic=738576.0

deleted post: https://bitcointa.lk/threads/pre-ann-nostrum-3rd-generation-coin-decentralized-market-anon.352482/

likely a purchased username.

Here's another question - where is the investor list? How do we know you aren't keeping most of the coins for yourself?
And what is the premine if any?

Please update OP for coin information (number of coins, etc..)

 ;D Yep. A purchased account.
Giveaway thread. Off-topic thread. DOLP(lol, most of Chinese know this coin. Obviously, dev liked it very much.)

The ICO will run until the beta ends and the official wallet is released.

We'll set up a temporary block explorer for you to track down the distribution process. All coins that are not sold in the ICO is destroyed.

Updated in the FAQ section

so just like clustercoin.
and the dev choose not to answer such questions.
ppl, u r warned.

so this coin is same as this post?


https://bitcointa.lk/threads/pre-ann-nostrum-3rd-generation-coin-decentralized-market-anon.352482/ (https://bitcointa.lk/threads/pre-ann-nostrum-3rd-generation-coin-decentralized-market-anon.352482/)

What question to answer? He didn't ask anything.
He gave our newbie account, which is created just for the purpose of announcing Nostrum, a negative feedback.
He said that the account is new, and ask for ICO without escrow or open beta.
So we decided to close the thread, use our real account to announce Nostrum, and release the wallet at the same time.
I know the crypto community has been suffering from a lot of ICO scam lately. I feel sorry for those people who lost their money.
But you guys should open your eyes. Try to understand something before investing or spreading FUD. The other ICOs are just copypasta of bitcoin without any new features, and yet people still give their money to the scam devs.

Yes and the pre-beta phased was skipped because we can not find a trusted escrow service to use.

From what I gather here...if you stick to your word I guess.

You have created a bank of sorts for Bitcoin. People send you their coins, you give them a transfered coin which they basically will use to 'EFT' for goods and services and if they want to 'draw' money then they transfer back to Bitcoin. Am I correct in this basic nutshell of an assumption?

Edit: From your value diagram it also looks like you want to slowly increase the coin value as well or was that just a rough drawing?

Your assumpition is quite right, only that the value is reserve in USD not Bitcoin.
The coin's value will increase slowly by itself because of the reseve value. It's not us or anyone else that can control it.

Did you lower your ICO price from 1600 to 500??????????????? And what become of utilizing an escrow here?

you do a new idea for ICO but the price , wow..

No, the price is actually not a matter. Because all of  the remaining Nostrum will be destroyed if they are not sold.

Contact me to Remove the feedback once you have escrow.


After a little digging, I concluded that the coin is not genuine but that's not for me to decide.  I hope you prove me wrong.  Good luck

Any suggestion which service to use?

Its worth it is you know how to build your own coin, but don't risk buying if you don't even know where escrow...

I contacted 2 escrow services, waiting for their response.

DON'T TRUST MSCOLLEC. "She" (its really a dude pretending to be a chick) is a notorious abuser of the trust system. Please, read his trust rating he left and that was left for him by others. He's pretty much a well-known scammer by this point.

Don't believe me? Please read his trust ratings.

Despite your threats, you can't have me banned. You are a criminal, the fact that you are not yet banned is amazing.

If I am banned, it will mean that BTT is just a criminal enterprise, and I won't care to have any part of it anyways.

How can you give them a negative rating when they haven't actually done you any wrong? That makes zero sense. If that is your frame of mind then you must think that everyone you see on the streets is going to rob and kill you until they have some form of proof that they are not from a third party you don't actually know. How is that logical?

Nostrum? hmm.. Is that short for Nostradamus? Hey..I can predict the future too. Lets see....Youll collect a few btc from a few noobs and run off. Lets see if my powers of prediction still work.

Is everyone done now?

Google Chrome marks the installer as malicious. Running it on Vmware right now working well.

Reserved :)

Please inform us all when escrow is available :)

I'm gonna buy some.
Hopefully this goes well.

Contacted a few escrowers on the forum but they did not reply. Any suggestion?

SebastianJu

DevTheDev

Thank you, I've just sent a message to SebastianJu, waiting for his reply.
I contacted DevTheDev few days ago but he denied to provide the escrow service.

I contacted SebastianJu and he agreed to provide the escrow service. He'll make a post here to confirm soon.

Great :D

The ICO Beta in-wallet works fine.  Got some NOS.

You sure did, I saw that transaction. Leave any?

Leave any what?  Not sure what you mean...

What will ICO money be used on?

1. What is PoD?
2. There is going to be an Escrow, We are discussing terms at the moment. I will update the OP once we come to an agreement.
3. This is my account. What do you mean by meaningless posts? Could you be more specific?

EDIT: I actually did some research about PoD and stumbled upon this topic: https://bitcointalk.org/index.php?topic=755656.0 - Meaning: PoD is a scam service provided by http://cryptoasian.com/. PoD can be bought. Escrow is the only trustable resource.

PoD is Proof Of Dev, a service offered by CryptoAsian.  A lot of people use his service to verify themselves as the developer.  Some people trust his ratings, some don't.  But usually if CryptoAsian rates someone 5/5 people are more willing to buy-in/earn that cryptocurrency.  CryptoAsian is legit, he does not sell information or names and such.  I've seen him be offered a large number of BTC for info, and he still declines.

Thank you. You should read my edited post. I think the only Proof Of Devs to be trusted are github commits, promises fulfilled.

I wasn't saying it was something you have to do, just giving you general information.  
I already bought some of my own NOS, so wallet is trustable

I see i was already mentioned in the the thread so i will post now the details about my involvement as escrow.

My service as escrow can only give security for the time beneath paying your bitcoins into the escrow address and receiving the ICO Coins. I created a single bitcoin address where interested users can pay their bitcoins in. PLEASE make sure that you only send coins from an address you control and you are able to create a signed message with. You will need that to prove you payment later with CounterStrike.

The escrow address is:
The workflow so far will be:

* Sending coins to the bitcoin escrow address. ONLY from an address you control and you can sign a message with.
* Once CounterStrike solved all points needed to start you will need to verify your payment as yours.
* I need to be implemented in the personal messages. So that i get the signed message and can connect the BCT-Username to the sending bitcoin address.
* In order to know that the user received the ICO coins i need a confirmation that the buyer got the ICO coins so that i can release his btc to CounterStrike. Alternatively, if it will work that way, the buyer gives me (and CounterStrike) the info about to which address send the ICO-Coins to. So that i could check if the coins reached the ICO-Coin-Address. Though this second way is only an alternative in case it will work that way.
* Once i got the confirmation that the ICO-Coins reached, i will forward the Bitcoins and my service ends for the single user.
* I will ask CounterStrike for his ID, i didnt ask yet so i dont have it yet. I will update this post once i received the ID or once he denied to give me his ID.

If youre fine with the security level this will give you then you can start sending Bitcoins to the escrow address.

When does the ICO end?

what is price for 1 nos ico?

Everyone be careful. Darkchain wallet for IPO had a keylogger hidden and now people are losing their BTC of those that dowloaded the wallet. Not saying this is the case here but just be careful with new coins/wallets.

lol DARKCHIAN  ;D
https://twitter.com/DARKCHIAN

It's 500 satoshi.

It will end when these services are up and running:
1. The Reserve Bank.
2. The Nosjob service.
3. The Nosstore.

It will be used for hiring developers and hosting of the Nos-services,...

Thank you. I updated the OP with you informations

What the total BTC do you want to raise in presale?

IMO, PoD is pretty useless as it can't check your ability as a developer, neither can a trusted "escrow". The most an escrow can do is make sure the buyer gets his IPO coins. The risk association comes whether you will follow through with your promises. Something which can only be tested if you have an open beta/alpha before asking for money, which obviously you don't.

But given the fact BCT people are more worried about loosing a cheap IPO over security, I guess all is fine even if someone buys through wallet.

Nice point. I'll discuss with the team and see if a beta version of the NOS-services can be released before closing the ICO.

That sounds like a good idea, in my opinion at least :)

Why would you need to hire devs if you coded the whole thing in C++, cant you cope with other things?

Where is the block explorer?

Hire developers for the mobile wallet, the NosStore website, the NosJob website, the NosBet website, etc...
I can not do all the whole things myself.

And where's the block explorer?

WHen does this ICO end????????????

Still working on it

It will end when these services are up and running:
1. The Reserve Bank.
2. The Nosjob service.
3. The Nosstore.
Which takes approximately 3 months.

Longest ICO ever haha.

Any word on exchanges?

I haven't contacted any of the exchanges yet.

And when you're planning to do so?

will check this later.

3 Month ICO and not on any exchanges radar, I'll meet you back here at a later date.

News?

Everything going too slowly I think Dev is a bit of lazy. ;)

Checkout USEcoin and recently, BitMO (XBM) to see how some of these IPO coins are handled...

Damn this thing died badly :P

Since im the escrow for this trade... i asked him 3 times via pm to send me a copy of his ID. He didnt answer at all. If he would need time i would have awaited an answer saying that but completely ignoring it while still posting in the thread doesnt look like he will provide an ID.

So in case this project is going on... i dont have seen an ID yet.

I already posted that due to the diversity of choices an opportunity costs of holding the cryptocurrency would easily turn its value to zero. Cryptocurrency is not the financial assets, such as securities that certain way can be backed by real property, and crypto's intrinsic value always leads to the surrogate measure of speculation. Factual price always shows the speculative demand that is occurred for the purpose to take advantage of investment opportunities that may arise. When/if the market corrects and amount of coins demanded reduces why would the price of initial acquisition be taken into account? If interest rate falls everything can be sold at any closest to zero price

deadcoin again.

where is dev?

Update? And more info about everything would be good too  ;)

no escrow ，no IPI， everyguys should keep it in your mind.