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

[Zontl]

If bittrex has the new NAUT, why is it still called NAUT instead of NXTNAUT?

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[asnghost]

If bittrex has the new NAUT, why is it still called NAUT instead of NXTNAUT?

I think the name NXTNAUT is just used for the transition period from the current system to the NXT platform. Also the ticker in the NXT platform is "NAUT" and not NXTNAUT if I'm not mistaken, see the screenshot of a few post before.

[habraken]

If bittrex has the new NAUT, why is it still called NAUT instead of NXTNAUT?

I think the name NXTNAUT is just used for the transition period from the current system to the NXT platform. Also the ticker in the NXT platform is "NAUT" and not NXTNAUT if I'm not mistaken, see the screenshot of a few post before.

Yep.

[Zontl]

If bittrex has the new NAUT, why is it still called NAUT instead of NXTNAUT?

I think the name NXTNAUT is just used for the transition period from the current system to the NXT platform. Also the ticker in the NXT platform is "NAUT" and not NXTNAUT if I'm not mistaken, see the screenshot of a few post before.

Ah I understand. Thanks

[Vlad2Vlad]

Seems old NAUT to new NAUT transition on Bittrex is complete. NAUT market is open for trading again.

Price and volume picking up on Bittrex.  Nice.

[EvilDave]

Yup....some nice things happening with NAUT.
(just to clear up a point: NXTNAUT is just a placeholder name, used to avoid confusion during the swap process, after the swap is done, we'll all be calling it NAUT.)

My last post from the redemption thread:

Just made the NXTNAUT transfers for tonight, as usual you can see them here:
https://bitcointalk.org/index.php?topic=1182317.msg12441796#msg12441796

On account security: just make sure you use a good passphrase, the default passphrase generator used in the Nxt NRS client is secure.
As Nxt uses a brain wallet, password security is the only thing you have to worry about. There are no local wallet files that can be lost or stolen.
Watch out for keyloggers and Trojans, think about using a secure password manager like Keepass: http://keepass.info/

Lastly: some of you may have noticed that a mysterious (and very small) amount of NXT has appeared on your account.
If this happened to you, use some of it to make an outgoing transaction (like setting an account name).
Your first outgoing transaction publishes your account on the Nxt blockchain and increases its security.
This is a public service announcement from: http://nxtfoundation.org/

[BK_PHI]

Hello NAUT Community, this is BK!!!


First, I want to thank you all for you patience, support and input during the coin swap.  I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off.  Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project. 

Now let's move on to a few unanswered questions.  In particular, many of you have had question about the coin supply and the gold backing.

Coin Supply

The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account.  The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing.  Critically, our plan is not to increase the coin supply by more than 5-10% a year.  As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power. 

To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT. 

Gold Backing

All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation.  These revenues will be used to buy gold to back Nautiluscoin.  We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold.  This process is not yet complete, but I expect completion in the near future.


The more Nautiluscoin is used or traded, the more gold we will buy.  In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy.  Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2.  By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.


I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.

-BK

[halinyo]

hahahahahahahahahahahahahah

[kalenen]

Thx for the update BK!

Feels like Naut is in good hands

[chocobo]

As a large holder of NAUT I have a vested interest in keeping the supply in check.

So you did use your "period of silence" and undelivered promise after undelivered promise to become a large holder. You should be in jail.

[delong]

Hello NAUT Community, this is BK!!!


First, I want to thank you all for you patience, support and input during the coin swap.  I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off.  Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project. 

Now let's move on to a few unanswered questions.  In particular, many of you have had question about the coin supply and the gold backing.

Coin Supply

The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account.  The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing.  Critically, our plan is not to increase the coin supply by more than 5-10% a year.  As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power. 

To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT. 

Gold Backing

All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation.  These revenues will be used to buy gold to back Nautiluscoin.  We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold.  This process is not yet complete, but I expect completion in the near future.


The more Nautiluscoin is used or traded, the more gold we will buy.  In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy.  Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2.  By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.


I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.

-BK

I'm usually pretty skeptical about a lot of crypto stuff, NAUT included (even though I've been hodling for a year), but this is a nice, informative and very welcome update - thank you.  I and probably many others would still love to see more frequent updates from you directly, but I also understand how shitty this forum can get.  Anyway, thanks!

[Vlad2Vlad]

As a large holder of NAUT I have a vested interest in keeping the supply in check.

So you did use your "period of silence" and undelivered promise after undelivered promise to become a large holder. You should be in jail.

Idiot, even the poorest of investors could have become a 10% holder of NAUT over past year if they wanted to and a few people did just that.

What better opportunity could you possibly want?   NAUT was the easiest investment of all time if you had any brains and balls.  A real banker told you he was gonna do great things and then the price of his coin dropped down to a penny for everyone to buy all they wanted on the open market.

If you didn't buy it's not BK's fault but your own so grow a brain and some guts and don't miss the next easy one.

Actually, the next easy one is NXTNAUT - or do you think a major banker like Brian Kelly is gonna try to go live and then multi national with a 7 cent coin?  Hahaha - it doesn't get easier than this, man. 

Buy now cause it's going up 20-50 fold from here very soon. 

[asnghost]

Hello NAUT Community, this is BK!!!


First, I want to thank you all for you patience, support and input during the coin swap.  I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off.  Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project. 

Now let's move on to a few unanswered questions.  In particular, many of you have had question about the coin supply and the gold backing.

Coin Supply

The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account.  The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing.  Critically, our plan is not to increase the coin supply by more than 5-10% a year.  As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power. 

To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT. 

Gold Backing

All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation.  These revenues will be used to buy gold to back Nautiluscoin.  We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold.  This process is not yet complete, but I expect completion in the near future.


The more Nautiluscoin is used or traded, the more gold we will buy.  In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy.  Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2.  By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.


I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.

-BK

Thank for the update BK and goodluck with the last preparations for the 26th.

Will there be any live stream from the launch?

Looking forward to see more of info about the project!

[EssTee]

Hello NAUT Community, this is BK!!!


First, I want to thank you all for you patience, support and input during the coin swap.  I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off.  Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project. 

Now let's move on to a few unanswered questions.  In particular, many of you have had question about the coin supply and the gold backing.

Coin Supply

The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account.  The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing.  Critically, our plan is not to increase the coin supply by more than 5-10% a year.  As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power. 

To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT. 

Gold Backing

All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation.  These revenues will be used to buy gold to back Nautiluscoin.  We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold.  This process is not yet complete, but I expect completion in the near future.


The more Nautiluscoin is used or traded, the more gold we will buy.  In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy.  Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2.  By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.


I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.

-BK

Thanks for the update!

[kenler]

Naut on cryptsy, it is new naut or old Naut?

[Drachmae]

Only Bittrex is trading the New Naut

Naut on cryptsy, it is new naut or old Naut?

[chocobo]

As a large holder of NAUT I have a vested interest in keeping the supply in check.

So you did use your "period of silence" and undelivered promise after undelivered promise to become a large holder. You should be in jail.

Idiot, even the poorest of investors could have become a 10% holder of NAUT over past year if they wanted to and a few people did just that.

What better opportunity could you possibly want?   NAUT was the easiest investment of all time if you had any brains and balls.  A real banker told you he was gonna do great things and then the price of his coin dropped down to a penny for everyone to buy all they wanted on the open market.

If you didn't buy it's not BK's fault but your own so grow a brain and some guts and don't miss the next easy one.

Actually, the next easy one is NXTNAUT - or do you think a major banker like Brian Kelly is gonna try to go live and then multi national with a 7 cent coin?  Hahaha - it doesn't get easier than this, man. 

Buy now cause it's going up 20-50 fold from here very soon. 

You sure he is a banker? ......

I made much more trading than I would of buying NAUT at 3k, but nice try attempting to pin my opinion on jealousy.

All I am saying is that the way he did this is incredibly sketchy, have you read his book? He straight up said IN THE BOOK that he wrote it to save his BTC investment. He purposely ignored supporters for 9 months while failing in amateurish ways. I am just noting that this is scumy as hell, that's all. I do it with many coins that don't add up. Its just unexpected that you see this out of Brian Kelly.

[EvilDave]

Tonights payouts are available for your viewing pleasure here:

https://bitcointalk.org/index.php?topic=1182317.msg12441796#msg12441796

[coin-cidence]

From today morning Poloniex has new NAUT too

Only Bittrex is trading the New Naut

Naut on cryptsy, it is new naut or old Naut?

[l8orre]

From today morning Poloniex has new NAUT too

Only Bittrex is trading the New Naut

Naut on cryptsy, it is new naut or old Naut?

sorry, I just have to ask explicitly:

 new Naut as in Nxt currency https://nxtportal.org/currencies/18154834130337484019 ?

Does that mean that Bittrex is operating on the Nxt currency exchange booth on the blockchain when people trade https://bittrex.com/Market/Index?MarketName=BTC-NAUT ??