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

[drumingspz]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

I already try 3 times to nau.coinsinfo.net today but i can't move to another pool alone because i can't get any block..

Now i put 20mH again, let's see if anybody join.

Moving 100MH

I'm sorry this pool don't suport all this hash.. :-S I will try the Bitember...

If you move 100MHs to Bitember, I'll move another 40 and join you...  Let me know when you are ready.

[1714923352]

1714923352

[Andremoliv]

0feepools

Please close your registration. You are consisting of almost all hash power, and this will hurt the coin as it tries to grow. We NEED to spread the hashrate out!

Can you explain how this hurts the coin? I don't understand.

From what I understand, as the coin grows, 0feepool will be the largest hash power for a long time. Therefore, it would be a 51% attack, and anyone mining at 0feepool would hoard all of the coins. At the moment, it is ok, but as more people become involved, it could be bad

Correct me if I'm wrong on anything. This is just what I see happening. It might not accually work this way but just in case  

I'm already were.. ;-) With some hash


I think it would only be a problem if the pool owner is malicious. It's not a matter of "hording the coins".

http://bitcoin.stackexchange.com/questions/658/what-can-an-attacker-with-51-of-hash-power-do

So, it's not really "bad" for the coin so to speak assuming the pool owner doesn't manipulate the blockchain.

Do we know anything about who runs this pool. What is his motivation for charging 0 fee? Is it to perform an attack? I don't know.

That said, if he IS MALICIOUS and is planning a 51% attack, then he certainly isn't going to stop registrations because he would want to control 51% of the hash power to perform his attack.

I think we just need to start moving our hashrate elsewere. It's hard to think about, since nobody is finding blocks, but if we all spread out instead of saying we will, we could balance the network

I already try 3 times to nau.coinsinfo.net today but i can't move to another pool alone because i can't get any block..

Now i put 20mH again, let's see if anybody join.

Moving 100MH

I'm sorry this pool don't suport all this hash.. :-S I will try the Bitember...

If you move 100MHs to Bitember, I'll move another 40 and join you...  Let me know when you are ready.

I'm already here with some hash ;-)

[Jem Nadaldev]

is the coin new?Looks interesting

[drumingspz]

If you move 100MHs to Bitember, I'll move another 40 and join you...  Let me know when you are ready.

I'm already here with some hash ;-)

Just moved over.  Looks like the dashboard is not showing any stats which is why others join and then leave.

Bitember pool is alive and well - spread some hash over with us.  Dashboard is down but we have >60MHs on the pool now.  Lets get over 250MHs!

[PilotofBTC]

is the coin new?Looks interesting

Yes, launched on May 1. Come in the waters fine.

[DigiByte]

Great segment for Nautiluscoin today on CNBC!

http://video.cnbc.com/gallery/?video=3000274165

[CrypJ]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

[Alan Jack783]

This coin is certainly a period of time I have to keep it!

[Cobra]

Great segment for Nautiluscoin today on CNBC!

http://video.cnbc.com/gallery/?video=3000274165

Very nice. It is worth including this link in the OP. Most people will arrive at the thread and may never see page 18.

[kskwerl]

having trouble mining with my 16 gridseed blades at stratum+tcp://phi.0feepool.com:4005 do I need to use another port or manually set difficulty for 83MH?

[drumingspz]

having trouble mining with my 16 gridseed blades at stratum+tcp://phi.0feepool.com:4005 do I need to use another port or manually set difficulty for 83MH?

Move over to bitember - nau.bitember.com:3369.

The stats show 0MHs for the site - this is wrong.  There's over 60MHs currently mining.  We could really use your help spreading the hash around!

[FlyingMongoose]

Great segment for Nautiluscoin today on CNBC!

http://video.c[Suspicious link removed]m/gallery/?video=3000274165

Very nice. It is worth including this link in the OP. Most people will arrive at the thread and may never see page 18.

There's been numerous existing articles on Nautiluscoin that BK has written at/for CNBC that I think should also be on the OP.

[FlyingMongoose]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

From what I understand of the fund, it seems to try to enforce a floor when it buys or sells. And since the fund (and "Official" price) is based off of AGX, I'm sure the fund is automated, since AGX has a nice automation API.

[PilotofBTC]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

From what I understand of the fund, it seems to try to enforce a floor when it buys or sells. And since the fund (and "Official" price) is based off of AGX, I'm sure the fund is automated, since AGX has a nice automation API.

BK has said the NSF is currently manual. He plans to automate it later.

[creativecuriosity]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

From what I understand of the fund, it seems to try to enforce a floor when it buys or sells. And since the fund (and "Official" price) is based off of AGX, I'm sure the fund is automated, since AGX has a nice automation API.

BK has said the NSF is currently manual. He plans to automate it later.

In my honest opinion, the fund is better off at least semi-manual at the moment.  Brian Kelley, the founder of NautilusCoin is a proven mind in the investment world; with legitimate trading credentials.  An automation system fully fleshed out by the mind and intentions of Mr. Kelley would certainly be a boon to the community; but a rush to automation is ignoring and forgoing the fact that manual control is not a dirty word.

[filipe3x]

http://nau.bitember.com/ pool is working at 100%, just ignore the stats for now.  

[Zackgeno96]

I know several here have experience with BetaRigs... it is ok to make a payment right from an exchange? Or is it not advised?

i do it from mintpal, no issues and even if you sent from an exchange and it takes over 30 minutes and you don't receive work you just file a ticket with betarigs with tx id address and rigs you paid for and they send your btc back, happened to me once sending from polo cause the withdrawal was not processed on time, but mintpal always works well so far.

i did it from mintpal once and it worked fine just have to make sure you add the withdraw fee to the total for your rental

[foxy]

quick payment here earlier from 0feepool but spent most of the night afk mining on uber with 2 others whilst I was out of the house.

[BK_PHI]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

The goal of the NSF is stable growth pattern so when merchants/users want to convert to BTC or fiat they have a reasonable expectation of a stable price. so YES the NSF will dampen upside and downside vol

[BK_PHI]

Will the Nautiluscoin Stabilization Fund ever be used to suppress the price if it is growing too fast or is it just used for buy pressure?

From what I understand of the fund, it seems to try to enforce a floor when it buys or sells. And since the fund (and "Official" price) is based off of AGX, I'm sure the fund is automated, since AGX has a nice automation API.

BK has said the NSF is currently manual. He plans to automate it later.

In my honest opinion, the fund is better off at least semi-manual at the moment.  Brian Kelley, the founder of NautilusCoin is a proven mind in the investment world; with legitimate trading credentials.  An automation system fully fleshed out by the mind and intentions of Mr. Kelley would certainly be a boon to the community; but a rush to automation is ignoring and forgoing the fact that manual control is not a dirty word.

By manual operating the pool, I am trying to avoid trading bots gaming the buy and sell orders...once the market becomes more mature I will automate the NSF. The inspiration for the NSF Hayek's 'The Denationalization of Money' http://en.wikipedia.org/wiki/The_Denationalization_of_Money  He advocated for private currencies and that consumers would gravitate to the most stable currency.