[CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit

[SebastianJu]

Any updates? No activity for over 4 months. SebastianJu could you try to reach em and ask for an update?

Especially on the Cryptostocks situation. The shares should move to Polo / NXTAE or something equally "safe".

Im not so happy that he didnt get back to me lately. Last thing i was told was that he now works fulltime on cannabits core business. He liked the idea of going decentralized and more private than this forum and asked me for suggestions he can look into then.

I would like him staying in contact more but it seems he does not yet see the importance of that. Otherwise he would. 

Is poloniex decentralised? I think he would prefer NXT otherwise. With NXT you mean the normal NXT-Exchange right?

I will try reaching him though.

[jeezy]

Any updates? No activity for over 4 months. SebastianJu could you try to reach em and ask for an update?

Especially on the Cryptostocks situation. The shares should move to Polo / NXTAE or something equally "safe".

Im not so happy that he didnt get back to me lately. Last thing i was told was that he now works fulltime on cannabits core business. He liked the idea of going decentralized and more private than this forum and asked me for suggestions he can look into then.

I would like him staying in contact more but it seems he does not yet see the importance of that. Otherwise he would. 

Is poloniex decentralised? I think he would prefer NXT otherwise. With NXT you mean the normal NXT-Exchange right?

I will try reaching him though.

Well at least there is some kind of communication. Please try everything to get hold of him and tell him it's kinda urgent to make the asset move.

Poloniex is centralized of course becuase its also an exchange. Pro side is that the assets are traded in BTC and it's kinda "stable and safe". And you could directly trade for altcoins too. Contra is that it's centralized and got some fees to it I guess. (don't know the exact numbers)

NXTAE of course is totally decentralized and pretty easy to use with the dividends plugin where you just enter the amount and it does everything on its own. Pro is it's probably the most safe and secure solution. Contra is it's traded in NXT but conversion of BTC<->NXT is pretty easy and with SuperNET client even included in the wallet.

[IPO Magic]

...
I will try reaching him though.

How's it hangin', Sebastian? How does your garden grow?

...
The same way he knows that Ukyo is going to pay him back. Because hope is the last thing to die.

[SebastianJu]

Any updates? No activity for over 4 months. SebastianJu could you try to reach em and ask for an update?

Especially on the Cryptostocks situation. The shares should move to Polo / NXTAE or something equally "safe".

Im not so happy that he didnt get back to me lately. Last thing i was told was that he now works fulltime on cannabits core business. He liked the idea of going decentralized and more private than this forum and asked me for suggestions he can look into then.

I would like him staying in contact more but it seems he does not yet see the importance of that. Otherwise he would. 

Is poloniex decentralised? I think he would prefer NXT otherwise. With NXT you mean the normal NXT-Exchange right?

I will try reaching him though.

Well at least there is some kind of communication. Please try everything to get hold of him and tell him it's kinda urgent to make the asset move.

Poloniex is centralized of course becuase its also an exchange. Pro side is that the assets are traded in BTC and it's kinda "stable and safe". And you could directly trade for altcoins too. Contra is that it's centralized and got some fees to it I guess. (don't know the exact numbers)

NXTAE of course is totally decentralized and pretty easy to use with the dividends plugin where you just enter the amount and it does everything on its own. Pro is it's probably the most safe and secure solution. Contra is it's traded in NXT but conversion of BTC<->NXT is pretty easy and with SuperNET client even included in the wallet.

NXT sounds fine then. I never used it yet personally and of course i dont have anything to explain to him about how he could set things up there.

Maybe he fears all the work he had to put into in order to understand the system and setting everything up. When i read you mentioning plugins then this might be a valid thing.

Do you know things there very well? If so, maybe it would speed up things if you could give something like a short tutorial or so. So that he can see its easily and fast done. No problems moving there or so.

He could proof that he is the real owner of cannabit by verifying an address bound to cannabit AND include something unique to the nxt asset in the message. Then no one can copy it and fake it easily.

So far i have the impression its time mostly that is a hindrance. So if you feel like it, maybe this could help.

[twentyseventy]

Guys,
This thing has been going since 12/2013 and has paid two tiny dividends. Put a fork in it; it's done-

[SebastianJu]

He got back to me and apologized for not communicating. He wants more information about NXT since he wants to make the switch as soon as they allow to list. He would like to get more information. So jeezy, maybe you can help with that since you have more experience in it and the things you mentioned sound like experience is something needed?

Regarding div payments... he writes its still about the projects where they still not have decided if they should move forward with.

I asked him to put some time in for communicating with shareholders too.

[floatyfish]

He got back to me and apologized for not communicating. He wants more information about NXT since he wants to make the switch as soon as they allow to list. He would like to get more information. So jeezy, maybe you can help with that since you have more experience in it and the things you mentioned sound like experience is something needed?

Regarding div payments... he writes its still about the projects where they still not have decided if they should move forward with.

I asked him to put some time in for communicating with shareholders too.

Can you talk to him and ask him to set up a time to talk to shareholders? While I'm glad that some information is getting out through you, I would like to talk to him and ask him some questions.

[jeezy]

He got back to me and apologized for not communicating. He wants more information about NXT since he wants to make the switch as soon as they allow to list. He would like to get more information. So jeezy, maybe you can help with that since you have more experience in it and the things you mentioned sound like experience is something needed?

Regarding div payments... he writes its still about the projects where they still not have decided if they should move forward with.

I asked him to put some time in for communicating with shareholders too.

Well it's quiet easy actually. Just create an NXT account and create the asset. It costs 1000 NXT tho. The are also smart contracts on SecureAE but I haven't used them yet.

Tutorial: https://wiki.nxtcrypto.org/wiki/Asset_Exchange
Read and check video: http://www.secureae.com/
Here is a secure and fast offline/online wallet: http://jnxt.org/jay/
Check current assets: http://nxtreporting.com/

Note: I would ALWAYS do sensible stuff offline. (download the jay wallet, open the html on your PC) And use a really strong passphrase for your NXT account. Like 32+ signs etc. _ESPECIALLY_ for asset holding accounts.

Regarding the problem how to get the assets out of Cryptostocks and see who has how many shares assigned etc I have no clue.

Once that is done transferring the correct amount to the owner in NXT is no problem. Every shareholder needs a NXT adress and get in contact obv.

[SebastianJu]

Thanks jeezy. I will forward to him in the hope of speeding up things.

Regarding who owns how many shares... i believe at the start of cannabit he chose cryptostocks because they offered to automatically send an email (each day?) to the issuer that contains the shares everyone owns. So he should have the actual stats. There arent trades going on really too. But i will ask him about this too.

Does NXT have 2FA or something like that too? I guess a password alone wouldnt be such a safe thing.

Can you talk to him and ask him to set up a time to talk to shareholders? While I'm glad that some information is getting out through you, I would like to talk to him and ask him some questions.

Yes, im happy too since otherwise i most probably would believe this project is done already. He wrote that he wants to monitor the email i wrote him to more regularly now. And he wanted to make a post in here in the next days.  I wonder if this happens. Would be good though. So depending on your questions you might post them in here. Otherwise you might send them to his email and i could ask him to check that account out and search for your question.

[jeezy]

Does NXT have 2FA or something like that too? I guess a password alone wouldnt be such a safe thing.

If you check the Jay wallet it actually uses a 2FA-like PIN code to encrypt all the data locally (client seed). So it kinda functions as that.

[IPO Magic]

Thanks jeezy. I will forward to him in the hope of speeding up things.

-snip-

How's it going, communications in full swing and everything?
Drug trade as happening as you figured it'd be?

[jjjohnson]

Guys,
This thing has been going since 12/2013 and has paid two tiny dividends. Put a fork in it; it's done-

In the past, he also disappeared and came back. I think you're right, though. This time he's probably gone for good.

[bitcoinmuseum]

You guys should of known it was over after the powdery mildew...what a noob.

[jeezy]

Yes, im happy too since otherwise i most probably would believe this project is done already. He wrote that he wants to monitor the email i wrote him to more regularly now. And he wanted to make a post in here in the next days.  I wonder if this happens. Would be good though. So depending on your questions you might post them in here. Otherwise you might send them to his email and i could ask him to check that account out and search for your question.

So.....?

[rikky05]

This is a great idea, cannabis plus bitcoin is good combo, but you will have to offer more than the average alt that have come with this.

[SebastianJu]

Hey guys... i wonder if anyone of you noticed but cryptostocks went down on july 17th. Luckily it came back on july 22 but while checking things out with the issuer of cannabit, when cs was down, we found that kumala, who runs cryptostocks.com, did implement a very poor security against the exchange going missing.

When glbse.com went down all exchanges implemented a security measure to ensure that shareholders and their shares are known to the issuer. To do so the exchanges sent a daily email with the shareholders bitcoin address and his shares. The shareholder could proove the ownership of the shares by signing a message with that address.

Unfortunately kumala only implements the cryptstocks email into that list. On top some shareholders are missing totally. Oo Thats a really stupid security measure, but nothing new. Cryptostocks has override codes for 2FA codes for example too.

Anyway... when you want to be identifyable i suggest that you go into your account and check the option that your email is allowed to be seen by the issuer. You might change your account email if you want to stay anonymous before. But you need to show an email you control.

If you dont do so you will not be able to proof you own shares.

So i would like you to do that in the meanwhile. I hope that soon a more detailed post will appear here about the future of cannabit. There is one... So secure your shares for now.

[jeezy]

Thanks for the info Sebastian. Looking forward to get rid of cryptostocks.

[SebastianJu]

Thanks for the info Sebastian. Looking forward to get rid of cryptostocks.

Yeah... when it went down i though "well... im so happy that no dividends were paid out shortly before". I mean when you ask around it seems no one knows kumala, the owner of cryptostocks, personally. And it seems he already had a "hack" once with another project. Im not really sure how it happened that cryptostocks became the exchange of choice.

Anyway... nxt has a learning curve, if you come from bitcoin, but it seems to be a nice thing.

[jeezy]

NXT is pretty straight forward. If you or your contact need support feel free to get in contact.

This takes way to long and couldve been resolved months ago.

[SebastianJu]

NXT is pretty straight forward. If you or your contact need support feel free to get in contact.

This takes way to long and couldve been resolved months ago.

Yes, NXT is really interesting. For someone coming from bitcoin it's a little bit hard to wrap your head around all the differences but once you got the hang of it is it cool.

And yes... this takes WAY too long.