[ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield

[FlyingMongoose]

League of Legends Nautilus

I wouldn't mind being able to purchase stuff in League of Legends utilizing NAUT ;-)

[PilotofBTC]

PoS Update

We have begun the coding work on PoS, it is estimated it will take about a week to complete and then we will need to test.  The one thing I have learned about crypto is to expect the unexpected! I don't want to over promise and under-deliver so I will only post about what is completed and tested. As we move further in the process I will be able to get a realistic date of implementation. My desire has always been for PoS to be implemented well before the PoW stage is done.

In terms of stake (or 'dividend' for guys like me) I have set it at 2%. I had hoped to tie the stake to a well known price index, but relying on a third party would compromise network security. I chose 2% because most central banks target 2% inflation per year - Wall Street will understand this.  I am also consulting with a few well respected economists to determine if there is such a thing as 'optimal money supply growth' - so far we have not found it - if we can determine an optimal method then we will try to incorporate with PoS...BUT no promises as this is much more art than science.

-BK

Devil's advocate. Lets bust out of this current alt market pump and dump day trader BS bubble, but what slice of "wall st." are you targeting? Too broad and not enough will get it. Too narrow and the same fate.

A 10 year treasury is at 2.5%. Would likely be a shit buy right now and not your target market but I'm just saying.

Investment Grade Corporate ETF is at 3.2%. You're trying to make Nauti stable and accepted. Would you say this is it?

High Yield corporate ETF 4.48%. More volatile, doesn't really seem like your target market even if Nauti is going to be volatile until the market is deep enough to discount an appropriate price.

S&P 500 earnings yield is ~6%. Is this your target market? Some narrower slice of this?

Probably all poor comparison's really but what does "wall st." relate to?

I could go on, but why is "wall st." coming to this party? I think they will in time, but why Nauti? And why now? You have the stabilization fund so the pitch is less price volatility (after the market discovers/discounts the price more efficiently - too thinly traded right now combined with mining supply phase), why is 2% attractive? Are you pitching total return so the 2% inflation + steady price increases tied to NAUTi acceptance?

Perhaps non-correlated asset class. Okay, but does the potential return on this really offset the risk of a new experimental, non-correlated asset? Love what you're doing but maybe we need another "wall st.," name or 3 to join forces and up the ante a bit.

What exactly is your elevator pitch to the non-crypto initiated? Why would they get Nauti? Not sure I'm seeing a fully fleshed out pitch yet. None of the algo or POS stuff is going to be remotely relevant in that brief moment in time. And what the ADD, Pavlov's dogs conditioned alt market thinks doesn't remotely matter in that moment.

I'm in, but I'm curious what the pitch really is? First hurdle is getting btc. Second is graduating to see Nauti/alts. I see it long term. I'm in Nauti, but I want to really see what angle you are taking. And when I roll into my office tomorrow I want to play off that angle and help them get it. The more of us get the non-alt market pitch the more we can help others get it and get Nauti.

Have you landed any high profile Nauti investors that want to lend their name?

Very good questions im sure BK will give us a hint on what his plans are,

i think block times will be all sorted after POS but for the moment its really slow blocks, i dunno why as the mining difficulty is higher than at its low point so shouldn't things be chugging along nicely.

Seriously, we've been living with this issue for a month now. I feel the digisheild adjustment difficulty is flawed. It adjusts too radically.

the coin is useless with day long block times.

[PilotofBTC]

Still out of sync - closed the wallet for +10 mins.. even restarted pc- 9 hours behind.
I doubt it' s just me - looks like a network problem.
Hope it gets fixed soon and i'm sure it will.

It's out of sync because the wallet displays that message when the last block it has is longer than X minutes ago. If it has the last block it is technically in sync.

[HKBvM]

I dont know what can be done, but something has to be done. I have a pending deposit at mintpal since 18 hours, still 0 of 10 confirmations. So I assume one of the reasons the price is up again is no one can transfer coins to mintpal? (the other one is that this is simply a great "project" with lots of potential)

[FlyingMongoose]

I dont know what can be done, but something has to be done. I have a pending deposit at mintpal since 18 hours, still 0 of 10 confirmations. So I assume one of the reasons the price is up again is no one can transfer coins to mintpal? (the other one is that this is simply a great "project" with lots of potential)

We seem to have a stuck block (again). Once we go proof of stake this will actually help the network operate faster.

[Doging]

I dont know what can be done, but something has to be done. I have a pending deposit at mintpal since 18 hours, still 0 of 10 confirmations. So I assume one of the reasons the price is up again is no one can transfer coins to mintpal? (the other one is that this is simply a great "project" with lots of potential)

Some miners and a few "day traders" might want to sell but we're going POS soon and there's a multipool in the works. I have around 30K on mint and cryptsy and haven't sold one. It'll be like this every day once the miners stop dumping and POS testing starts this weekend.

[scrypto]

this 18hr+ sync issue is damaging

not good

[BK_PHI]

We just rented 6.8 Mh/s from Betarigs to get the chain moving again...that is the biggest rig I could find

Edit: we will be mining at IPOminer

[BK_PHI]

sorry, we should have rented a rig earlier.  No excuses, we dropped the ball.  fixing it now

[HKBvM]

I dont know what can be done, but something has to be done. I have a pending deposit at mintpal since 18 hours, still 0 of 10 confirmations. So I assume one of the reasons the price is up again is no one can transfer coins to mintpal? (the other one is that this is simply a great "project" with lots of potential)

Some miners and a few "day traders" might want to sell but we're going POS soon and there's a multipool in the works. I have around 30K on mint and cryptsy and haven't sold one. It'll be like this every day once the miners stop dumping and POS testing starts this weekend.

I know. I always make sure that I end up with more NAUT in the evening than I had in the morning, but that process usually includes also selling sometimes to buy back cheaper. NAUT would be a 1a opportunity for that thanks to the dumping miners, but its just so slow to move around.

[Wheeljack]

in the mean time we need to build the merchant ecosystem for NAUT.

You're a long way from having a coin which offers merchants an incentive to accept. There is no reason to use NAUT not Bitcoin until the hypothetical "real world" elements of NAUT materialize or NAUT becomes a well known fund with your face on it. This is a chicken-or-egg problem as it looks like we need one side to motivate the other.

I suggest you think about completely flipping how this usually goes. Offer incentives to the customers, not the merchant, and use merchant co-op primarily as a promotional tool until you can offer realistic incentives to large retailers to offer big purchases that would fund the liquidity of market. Remember, this took Bitcoin years to accomplish and Bitcoin was on everyone's lips. Maybe a merchant or service which already accepts Bitcoin for a discount could give customers the option to receive NAUT instead of receiving that discount. For example: if someone hired a miner in Bitcoin, they could get 2% back in NAUT? Then there's an opportunity to get your promotional materials in someone's hands, lots of hype about the future of NAUT, and they'd be itching to spend it and THEN there would be an untapped market to offer merchants. Right now no one would accept NAUT because only speculators hold it. Why would I buy a drinks coaster today if 5000NAUT turns out to be as good as a retirement fund?!!

This would publicize the idea that unlike other alt-coins, NAUT isn't an alternative, it's a fund related to Bitcoin. NAUT wants to start and exploit ecosystems, not replace them - maybe make physical NAUT coins that are double-sided, they have 100 NAUT on one side, and the equivalent in Bitcoin on the other, to show that NAUT works with others, it doesn't need to compete like the others do - because of the real world links and the fund which rely on the MACRO side of CC, not the micro pnd hype...

[open82buy]

                                 

                                                       This damn wallet needs to sync !!

[FlyingMongoose]

in the mean time we need to build the merchant ecosystem for NAUT.

You're a long way from having a coin which offers merchants an incentive to accept. There is no reason to use NAUT not Bitcoin until the hypothetical "real world" elements of NAUT materialize or NAUT becomes a well known fund with your face on it. This is a chicken-or-egg problem as it looks like we need one side to motivate the other.

I suggest you think about completely flipping how this usually goes. Offer incentives to the customers, not the merchant, and use merchant co-op primarily as a promotional tool until you can offer realistic incentives to large retailers to offer big purchases that would fund the liquidity of market. Remember, this took Bitcoin years to accomplish and Bitcoin was on everyone's lips. Maybe a merchant or service which already accepts Bitcoin for a discount could give customers the option to receive NAUT instead of receiving that discount. For example: if someone hired a miner in Bitcoin, they could get 2% back in NAUT? Then there's an opportunity to get your promotional materials in someone's hands, lots of hype about the future of NAUT, and they'd be itching to spend it and THEN there would be an untapped market to offer merchants. Right now no one would accept NAUT because only speculators hold it. Why would I buy a drinks coaster today if 5000NAUT turns out to be as good as a retirement fund?!!

This would publicize the idea that unlike other alt-coins, NAUT isn't an alternative, it's a fund related to Bitcoin. NAUT wants to start and exploit ecosystems, not replace them - maybe make physical NAUT coins that are double-sided, they have 100 NAUT on one side, and the equivalent in Bitcoin on the other, to show that NAUT works with others, it doesn't need to compete like the others do - because of the real world links and the fund which rely on the MACRO side of CC, not the micro pnd hype...

So you're emphasizing broader distribution of the coin, the mind set of "if people have it they will want to use it"?

[Wheeljack]

So you're emphasizing broader distribution of the coin, the mind set of "if people have it they will want to use it"?

This already happened due to the preposterous overselling and wallet problems after the dump. Why not exploit it? Merchant acceptance is like climbing a mountain, why not instead just play it where it landed?

It would get the idea in the heads of potential users that NAUT isn't just an incrementally advance blockchain or tech gimmick, it's a fund (in progress) linked to Bitcoin and other CCs. It goes with, it doesn't go against. It doesn't want to replace anything, it wants to create worth.  

It would be good to create some kind of loyalty card program (based on blockchain addresses) where a merchant could say "do you want your 2 percent discount for paying in Bitcoin OR do you want to pay full price in Bitcoin and get 4 percent back in NAUT? - just give me your NAUT card for the cash back" 

[FlyingMongoose]

So you're emphasizing broader distribution of the coin, the mind set of "if people have it they will want to use it"?

This already happened due to the preposterous overselling and wallet problems after the dump. Why not exploit it? Merchant acceptance is like climbing a mountain, why not instead just play it where it landed?

It would get the idea in the heads of potential users that NAUT isn't just an incrementally advance blockchain or tech gimmick, it's a fund (in progress) linked to Bitcoin and other CCs. It goes with, it doesn't go against. It doesn't want to replace anything, it wants to create worth.  

It would be good to create some kind of loyalty card program (based on blockchain addresses) where a merchant could say "do you want your 2 percent discount for paying in Bitcoin OR do you want to pay full price in Bitcoin and get 4 percent back in NAUT? - just give me your NAUT card for the cash back" 

I kind of like that... it's a card I'd use.

[Wheeljack]

Then you go home and check the site on the back of the card and it tells you a bunch of stuff about "gold" membership NAUT investment accounts that earn more... then todays retail customers become tomorrows mature investors.

You know like how banks find their best mortgage customers by offering free iPods and gift certificates to youngsters taking their first credit and starting their first savings accounts? Those kids grow up.

Merchants are tough because you have to offer big incentives to expect them to make big changes. But customers never forget the small incentive, because it really effects everyones decisions

[PilotofBTC]

So you're emphasizing broader distribution of the coin, the mind set of "if people have it they will want to use it"?

This already happened due to the preposterous overselling and wallet problems after the dump. Why not exploit it? Merchant acceptance is like climbing a mountain, why not instead just play it where it landed?

It would get the idea in the heads of potential users that NAUT isn't just an incrementally advance blockchain or tech gimmick, it's a fund (in progress) linked to Bitcoin and other CCs. It goes with, it doesn't go against. It doesn't want to replace anything, it wants to create worth.  

It would be good to create some kind of loyalty card program (based on blockchain addresses) where a merchant could say "do you want your 2 percent discount for paying in Bitcoin OR do you want to pay full price in Bitcoin and get 4 percent back in NAUT? - just give me your NAUT card for the cash back" 

I suggested some stuff like that and someone posted, oh with ideas like this I'm selling all my NAUT.

[Wheeljack]

A longer shot would be to just open the biggest, best and most trustworthy CC exchange and have NAUT as its official loyalty scheme and ultimately the NSF would be its liquidity pool after about 12 months of trading and growth

There are a lot of regulatory reasons why not but just think about how much of a goddamn gold mine a direct link between an exchange and merchants would be. Like a deal of the day with Gyft or something like that.

[mdtspain]

A longer shot would be to just open the biggest, best and most trustworthy CC exchange and have NAUT as its official loyalty scheme and ultimately the NSF would be its liquidity pool after about 12 months of trading and growth

There are a lot of regulatory reasons why not but just think about how much of a goddamn gold mine a direct link between an exchange and merchants would be. Like a deal of the day with Gyft or something like that.

You are 100% right. That IS the connection to the "real world"

[Wheeljack]

I suggested some stuff like that and someone posted, oh with ideas like this I'm selling all my NAUT.

This forum thinks that anon is the best reason to have an alt coin.