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

[IncreaseMyT]

Can we get a vote on whether to go PoS?

I dont think so. For once the active community here is clearly in favour of POS, there was no one to raise any concerns. I believe BK wants NAUT as an investment, with investors getting rewarded for holding the coins. If that is the intention of NAUT, POS is clearly the way to go. POW is not exactly a benefit for early buyers, as new coins are constantly generated and devalueing investments. The community is dicsussing changing to POS since weeks now, most of the work is done, we wont go back.

POS has some disadvantages, no question. What happened to VRC would have been pretty severe for any coin, POW or POS, and what happened to NAV and C2 was bad, but could have been prevented if people were staking their coins.

So what's to stop some "big" investor buying a ton of NAUT...Not very decentralized..is it? We know Bryce has over 100,000 of them. When it comes time to stake with PoS, does he control the network?  Really guys...come on'  

control the network with 100k naut? is that a whale?

even if someone buys up all the coins to crash it, you will have plenty of time to sell at a profit while he is buying, so I don't see that as a big risk at all actually, as far as I am aware it hasn't happened.

[1715655834]

1715655834

[1715655834]

1715655834

[scrypto]

Unlike many shitcoins I think POS is perfect for NAUT and the type of altcoin it's trying to be (investment vehicle rather than a mainstream currency)

[HKBvM]

Can we get a vote on whether to go PoS?

I dont think so. For once the active community here is clearly in favour of POS, there was no one to raise any concerns. I believe BK wants NAUT as an investment, with investors getting rewarded for holding the coins. If that is the intention of NAUT, POS is clearly the way to go. POW is not exactly a benefit for early buyers, as new coins are constantly generated and devalueing investments. The community is dicsussing changing to POS since weeks now, most of the work is done, we wont go back.

POS has some disadvantages, no question. What happened to VRC would have been pretty severe for any coin, POW or POS, and what happened to NAV and C2 was bad, but could have been prevented if people were staking their coins.

So what's to stop some "big" investor buying a ton of NAUT...Not very decentralized..is it? We know Bryce has over 100,000 of them. When it comes time to stake with PoS, does he control the network?  Really guys...come on'  

Nothing really. Its hard to say exactly how many coins you would need for an 51% attack, that would depend on how many coins are staling and coin maturity. 30% might be a good estimate. That means one has to buy roughly 1.6M NAUT at todays prices that would be an investment of 180.000 USD, in reality much much more as the price would start moving up. 100k coins is not nearly enough to attack the network.

And I might add, most people are just sick of dumping miners. Mining - as far as I know - was invented to secure the blockchain, for that the miners were getting a reward - coins. Some of them didnt sell all the coins and became "investors". That was decentralised minng. Today's mining is not like that. Multipools auto-dumping every mined coin, renting rigs to insta dump what is the most profitable coin. Not a very appealing concept to me. Everyone feel free to disagree and correct me.

[IncreaseMyT]

the thought of someone buying 1.6m naut kind of turns me on now that I think about it, how sweet would it be 

[hokus_pokus]

Can we get a vote on whether to go PoS?

I dont think so. For once the active community here is clearly in favour of POS, there was no one to raise any concerns. I believe BK wants NAUT as an investment, with investors getting rewarded for holding the coins. If that is the intention of NAUT, POS is clearly the way to go. POW is not exactly a benefit for early buyers, as new coins are constantly generated and devalueing investments. The community is dicsussing changing to POS since weeks now, most of the work is done, we wont go back.

POS has some disadvantages, no question. What happened to VRC would have been pretty severe for any coin, POW or POS, and what happened to NAV and C2 was bad, but could have been prevented if people were staking their coins.

So what's to stop some "big" investor buying a ton of NAUT...Not very decentralized..is it? We know Bryce has over 100,000 of them. When it comes time to stake with PoS, does he control the network?  Really guys...come on'  

Nothing really. Its hard to say exactly how many coins you would need for an 51% attack, that would depend on how many coins are staling and coin maturity. 30% might be a good estimate. That means one has to buy roughly 1.6M NAUT at todays prices that would be an investment of 180.000 USD, in reality much much more as the price would start moving up. 100k coins is not nearly enough to attack the network.

Ok, Sorry. Forget the 100k coins. Bad math on my part. But like you said. 1.6M NAUT @ roughly $180,000 could be an issue for the network. We have also seen other coins such as C2 where most of the coins were stuck on exchanges and some "big whale" was able to run some attack on it.

Personally I would love to see this coin PoW X11 with DGW or a Digishield fix. But whatever, if PoS has been decided. So be it

[HKBvM]

Can we get a vote on whether to go PoS?

I dont think so. For once the active community here is clearly in favour of POS, there was no one to raise any concerns. I believe BK wants NAUT as an investment, with investors getting rewarded for holding the coins. If that is the intention of NAUT, POS is clearly the way to go. POW is not exactly a benefit for early buyers, as new coins are constantly generated and devalueing investments. The community is dicsussing changing to POS since weeks now, most of the work is done, we wont go back.

POS has some disadvantages, no question. What happened to VRC would have been pretty severe for any coin, POW or POS, and what happened to NAV and C2 was bad, but could have been prevented if people were staking their coins.

So what's to stop some "big" investor buying a ton of NAUT...Not very decentralized..is it? We know Bryce has over 100,000 of them. When it comes time to stake with PoS, does he control the network?  Really guys...come on'  

Nothing really. Its hard to say exactly how many coins you would need for an 51% attack, that would depend on how many coins are staling and coin maturity. 30% might be a good estimate. That means one has to buy roughly 1.6M NAUT at todays prices that would be an investment of 180.000 USD, in reality much much more as the price would start moving up. 100k coins is not nearly enough to attack the network.

Ok, Sorry. Forget the 100k coins. Bad math on my part. But like you said. 1.6M NAUT @ roughly $180,000 could be an issue for the network. We have also seen other coins such as C2 where most of the coins were stuck on exchanges and some "big whale" was able to run some attack on it.

Personally I would love to see this coin PoW X11 with DGW or a Digishield fix. But whatever, if PoS has been decided. So be it

I was hit by the C2 attack myself. I lost a considerable amount (indirectly through increased money supply there), though I still support C2 as they have dedicated devs that are really trying hard to succeed, sometimes they run into troubles, but they deserve my support I think.

Anyway, as I wrote there are pros and cons. If you want to read a really lengthy discussion, have a look at the nobl thread (page 380+) or emc2, they are currently discussing the switch to POS and have indeed a Poll about it.

[hokus_pokus]

Can we get a vote on whether to go PoS?

I dont think so. For once the active community here is clearly in favour of POS, there was no one to raise any concerns. I believe BK wants NAUT as an investment, with investors getting rewarded for holding the coins. If that is the intention of NAUT, POS is clearly the way to go. POW is not exactly a benefit for early buyers, as new coins are constantly generated and devalueing investments. The community is dicsussing changing to POS since weeks now, most of the work is done, we wont go back.

POS has some disadvantages, no question. What happened to VRC would have been pretty severe for any coin, POW or POS, and what happened to NAV and C2 was bad, but could have been prevented if people were staking their coins.

So what's to stop some "big" investor buying a ton of NAUT...Not very decentralized..is it? We know Bryce has over 100,000 of them. When it comes time to stake with PoS, does he control the network?  Really guys...come on'  

Nothing really. Its hard to say exactly how many coins you would need for an 51% attack, that would depend on how many coins are staling and coin maturity. 30% might be a good estimate. That means one has to buy roughly 1.6M NAUT at todays prices that would be an investment of 180.000 USD, in reality much much more as the price would start moving up. 100k coins is not nearly enough to attack the network.

Ok, Sorry. Forget the 100k coins. Bad math on my part. But like you said. 1.6M NAUT @ roughly $180,000 could be an issue for the network. We have also seen other coins such as C2 where most of the coins were stuck on exchanges and some "big whale" was able to run some attack on it.

Personally I would love to see this coin PoW X11 with DGW or a Digishield fix. But whatever, if PoS has been decided. So be it

I was hit by the C2 attack myself. I lost a considerable amount (indirectly through increased money supply there), though I still support C2 as they have dedicated devs that are really trying hard to succeed, sometimes they run into troubles, but they deserve my support I think.

Anyway, as I wrote there are pros and cons. If you want to read a really lengthy discussion, have a look at the nobl thread (page 380+) or emc2, they are currently discussing the switch to POS and have indeed a Poll about it.

Thanks for your thoughtful response. I lost some on C2 myself. I will definitely look at the nobl and emc2 threads. Have a good one!

[whatdidshedo]

i'm for POS in case you guys are pooling that, if we don't transition what's the point of holding cause pow creates to much supply and there is not enough demand and price will fall and it is evident in pow coins.

[chocobo]

Just remember that you need 51% of staking coins, not 51% of the total. Blackcoin made an improvement to PoS so once we see what type of PoS BK is doing we could vote to go for a PoS v2.

[baby222]

This coin deserves more attention. 
Stay strong

[drakoin]

Block Explorer:
http://explorer.nautiluscoin.com

-->

Internal Server Error
The server encountered an internal error or misconfiguration and was unable to complete your request.
Please contact the server administrator, [no address given] and inform them of the time the error occurred, and anything you might have done that may have caused the error.
More information about this error may be available in the server error log.
Apache/2.2.22 (Ubuntu) Server at explorer.nautiluscoin.com Port 80

?

Yes, I don't think that one ever works. Check out this one: http://nautinsight.buddylabsapps.com/

Thanks a lot. nautinsight.buddylabsapps.com
What is the API access to read the balance of an address?

Like
http://explorer.nautiluscoin.com/chain/Nautiluscoin/q/addressbalance/NS88NtpMPUaWFaLDtgQEcyUhyWiqZ1Ljn9

[drakoin]

The price just broke down through the next resistance.

For a coin intending to have a "stabilization fund" ... I am loosing surprisingly much of my wealth with this NAUT.

[drakoin]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

[FlyingMongoose]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

It's not moving very well on Mintpal right now, but poloniex is > 20k...

I'm guessing there will be some more movement come thursday though with the pos implementation being planned there.

[PilotofBTC]

Block Explorer:
http://explorer.nautiluscoin.com

-->

Internal Server Error
The server encountered an internal error or misconfiguration and was unable to complete your request.
Please contact the server administrator, [no address given] and inform them of the time the error occurred, and anything you might have done that may have caused the error.
More information about this error may be available in the server error log.
Apache/2.2.22 (Ubuntu) Server at explorer.nautiluscoin.com Port 80

?

Yes, I don't think that one ever works. Check out this one: http://nautinsight.buddylabsapps.com/

Thanks a lot. nautinsight.buddylabsapps.com
What is the API access to read the balance of an address?

Like
http://explorer.nautiluscoin.com/chain/Nautiluscoin/q/addressbalance/NS88NtpMPUaWFaLDtgQEcyUhyWiqZ1Ljn9

http://nautinsight.buddylabsapps.com/address/Nhh5Ndz2GdunwPrZyChYgr2PUj7AoLRtEm

[Doging]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

It's not moving very well on Mintpal right now, but poloniex is > 20k...

I'm guessing there will be some more movement come thursday though with the pos implementation being planned there.

The day after the mintpal hack there was practically no support but it's improving.

Does anyone know who ran the blackcoin multipool? I liked their setup, it was really simple.

Edit: I think this is his email thedogeofwallstreet@gmail.com

Does anyone think it's worth worth getting in contact?

[BTCrawl]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

It's not moving very well on Mintpal right now, but poloniex is > 20k...

I'm guessing there will be some more movement come thursday though with the pos implementation being planned there.

The day after the mintpal hack there was practically no support but it's improving.

Does anyone know who ran the blackcoin multipool? I liked their setup, it was really simple.

Edit: I think this is his email thedogeofwallstreet@gmail.com

Does anyone think it's worth worth getting in contact?

Yeah, he did the backend and they hired this company http://www.legiondev.co/ to do the frontend. I think it can definitely be a good idea to contact him, although I can't say if he'll be up to help us out. He seems like a very nice guy though (he usually appears on the Blackcoin videopodcasts) so it's worth a shot. I'd still like to know who has started working on the Nautiluscoin multipool though, or if they just put up a website and then forgot about it. It would be a shame if we've got a ton of talented people all working on different multipools.
BK - Do you know who, if anyone, is working on a Naut multipool?

[BK_PHI]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

It's not moving very well on Mintpal right now, but poloniex is > 20k...

I'm guessing there will be some more movement come thursday though with the pos implementation being planned there.

The day after the mintpal hack there was practically no support but it's improving.

Does anyone know who ran the blackcoin multipool? I liked their setup, it was really simple.

Edit: I think this is his email thedogeofwallstreet@gmail.com

Does anyone think it's worth worth getting in contact?

Yeah, he did the backend and they hired this company http://www.legiondev.co/ to do the frontend. I think it can definitely be a good idea to contact him, although I can't say if he'll be up to help us out. He seems like a very nice guy though (he usually appears on the Blackcoin videopodcasts) so it's worth a shot. I'd still like to know who has started working on the Nautiluscoin multipool though, or if they just put up a website and then forgot about it. It would be a shame if we've got a ton of talented people all working on different multipools.
BK - Do you know who, if anyone, is working on a Naut multipool?

A few things:

PoS - Obviously I am in favor of PoS, especially since I think I can sell the idea of a 'dividend' to professional investors. BUT I do think having the discussion about pros and cons is VERY worthwhile - I would much rather know about the flaws and have a plan ahead of time to address the issues.

The ability to control the staking coins is absolutely a risk to going PoS - $180k is not a lot of money for some people.  If someone wanted to destroy NAUT AND their investment buying the coins would be feasible.  However, my hope/plan is that the PoS transition will increase market cap and make it more difficult.

With this in mind, the "51%" attack problem is a very real threat in all digital currencies - any feedback on how to prevent it is welcome.


Also - can somebody list other potential flaws/security issues with PoS?

Naut PoS Pool - I am not running that pool and I do not know who is.  I think we should have more than one - as decentralization is one of the hallmarks of NAUT

Jon Fitch - I talked to Fitch yesterday and he has some VERY interesting ideas for NAUT, once I get the plans formalized I will need community help to implement.  In the interest of not tipping off the competition I may need to keep some ideas quiet until fully built out.

-BK

[BTCrawl]

how was it pumped on July 3rd - 5th and June 25th - 26th
- and when will that happen again?

It's not moving very well on Mintpal right now, but poloniex is > 20k...

I'm guessing there will be some more movement come thursday though with the pos implementation being planned there.

The day after the mintpal hack there was practically no support but it's improving.

Does anyone know who ran the blackcoin multipool? I liked their setup, it was really simple.

Edit: I think this is his email thedogeofwallstreet@gmail.com

Does anyone think it's worth worth getting in contact?

Yeah, he did the backend and they hired this company http://www.legiondev.co/ to do the frontend. I think it can definitely be a good idea to contact him, although I can't say if he'll be up to help us out. He seems like a very nice guy though (he usually appears on the Blackcoin videopodcasts) so it's worth a shot. I'd still like to know who has started working on the Nautiluscoin multipool though, or if they just put up a website and then forgot about it. It would be a shame if we've got a ton of talented people all working on different multipools.
BK - Do you know who, if anyone, is working on a Naut multipool?

A few things:

PoS - Obviously I am in favor of PoS, especially since I think I can sell the idea of a 'dividend' to professional investors. BUT I do think having the discussion about pros and cons is VERY worthwhile - I would much rather know about the flaws and have a plan ahead of time to address the issues.

The ability to control the staking coins is absolutely a risk to going PoS - $180k is not a lot of money for some people.  If someone wanted to destroy NAUT AND their investment buying the coins would be feasible.  However, my hope/plan is that the PoS transition will increase market cap and make it more difficult.

With this in mind, the "51%" attack problem is a very real threat in all digital currencies - any feedback on how to prevent it is welcome.


Also - can somebody list other potential flaws/security issues with PoS?

Naut PoS Pool - I am not running that pool and I do not know who is.  I think we should have more than one - as decentralization is one of the hallmarks of NAUT

Jon Fitch - I talked to Fitch yesterday and he has some VERY interesting ideas for NAUT, once I get the plans formalized I will need community help to implement.  In the interest of not tipping off the competition I may need to keep some ideas quiet until fully built out.

-BK

I think, as you pointed out, that a 51% attack is less likely in a PoS scenario as the attacker would destroy his own investment. The difference is of course when the attackers steals the coins, like in the Vericoin scenario, and if he can't sell them he might hold the network hostage or something. Still, if someone steals 30% of all coins you're going to have huge problems regardless if the coin is PoS or PoW, so it's not something unique to PoS.

The good thing is that PoS has became incredibly popular in the past 6 months or so, and a lot of people are experimenting with ways of improving security. Once PoS is implemented I'm sure we'll have a ton of discussion regarding what new features that can be added at a later date

Edit: Also, damn this thread is becoming long! Great to see so much activity.

[BK_PHI]

Any thoughts on what to do if 51% of NAUT staking coins are stolen?

If that occurs can we do anything or is NAUT at the mercy of the 51% holder?