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

[asnghost]

according to current pool stats you can mine 20 NAUT a day with 1,733 KH/s

A 280X hashes at 700KH/s at roughly 250watt. Lets say 1KWh is $ 0.10, that means u pay $ 0.60 a day.

1,733/700*0.60= $ 1.49

cost of mining NAUT, only electricity included and not the equipment would be 1.49/20= $ 0.074 and current price of writing is $ 0.087

this calculation only applies at current difficulty.

So at this moment at current prices there are miners that believes in NAUT, if not they probably move on. <-- from a miners perspective.

[smak]

stimulating debate is great but some prosperous prospecting would be better.. and no better place than MOOOPOOL



..--==MOOOPOOL http://Nautilus.mooo.coM MOOOPOOL==--..

i called my miner buddy in cali, he said he just pointed some rigs here

this drk crash naut rise is going to be epic

thanks, someone just got my pool account banned though

we did have some action earlier.. seems to have simmered but difficulty is still low if you want to hop on board.

[IncreaseMyT]

Given your supposition that a fully mined coin is dead, isn't EVERY cryto coin headed there? Whether it is 3 months, 3 years, or 3 decades? When bitcoin is fully mined, there will be no more miners, hence no transactions, hence the coin is dead. How is that rectified?

For example, NXT is 100% in existence (I think it's 1billion). The genesis block created 100% of the coins, and NO  MORE coins will ever be created. There are Zero miners. Does this mean NXT starts failed?

Crypto 101 here, I
Doing nothing and making it a "Traders Only" coin is idiotic.  It is literally an invitation for anyone with a few Scrypt ASICs to come rob you blind and/or destroy your coin.

How exactly is that idiotic?

Fawking miners, can't live with them, can't live without them.

There are remedies for this problem and we all know it, the fud doesn't work with me.

But yes it would be nice to not have to worry about huge dumps like this one, it's obviously not from people trading the coin

[andyatcrux]

according to current pool stats you can mine 20 NAUT a day with 1,733 KH/s

A 280X hashes at 700KH/s at roughly 250watt. Lets say 1KWh is $ 0.10, that means u pay $ 0.60 a day.

1,733/700*0.60= $ 1.49

cost of mining NAUT, only electricity included and not the equipment would be 1.49/20= $ 0.074 and current price of writing is $ 0.087

this calculation only applies at current difficulty.

So at this moment at current prices there are miners that believes in NAUT, if not they probably move on. <-- from a miners perspective.

I have tried to stay on top of these calculations too, but the difficulty is out of control swinging back and forth. One hour I am mining at a rate of 20 per day with 1700 KH and the next I am mining at a rate of 40 and the next at a rate of 10. Lol. Of course 2 days ago I was getting only about 7 per day with 1700 KH/s.  If you know anyone who is open to mining something in scrypt right now, you may want to ask them to mine NAUT. The multipools appear to be raping this coin at the moment.

[djds]

Network hashrate is over 4 GH now. It's not the most profitable atm but the price will rise for sure.

[KimJongUn]

How exactly is that idiotic?

Fawking miners, can't live with them, can't live without them.

Jesus, I thought you weren't responding to me anymore.

OK, one more time...

The purpose of mining is to secure the blockchain.  Block rewards are an incentive to encourage this.

For a PoW coin, anyone who controls 51% of your hashrate has control of the coin.  They can double spend.  In fact, they could just wipe out all of your coins and only leave their own.  They can do pretty much whatever they want with the coin.

The only way to avoid this is to make it very difficult to accomplish a 51% attack.  Bitcoin is the only coin that comes close to doing this, and even at 50 giga petahashes or whatever it is, it's still questionable.  But it's the closest we've got at the moment.  And yes, I'm saying that every single other coin (with the exception of those merge mined with Bitcoin, I suppose) are not secure.  That's why Bitcoin is worth FAR more than ALL of the alt coins combined

A PoW coin without miners is like a bank with an open vault.  People who run exchanges understand this, so they will de-list the coin.  No rational exchange would touch such a coin.

That's what your "Traders Only" coin is going to get you.  Enjoy.

[ruletheworld]

For a PoW coin, anyone who controls 51% of your hashrate has control of the coin.  They can double spend.  In fact, they could just wipe out all of your coins and only leave their own.  They can do pretty much whatever they want with the coin.

Not really. You should read https://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power

[IncreaseMyT]

I feel like I'm talking to a broken record, I know what a 51 % is you moron, LTC was just at 50 the other day.

If the coins are mined out, but miners can still make profit, because of a transaction fee, you would still have miners.

I am starting to feel dumb because I have said like 8 x.

I've never understood why people are so scared of a 51%

Why would a miner, that is mining the large majority of a coin, fork or even control more than 50%?  So they can make the coin they are trying to get worthless?

I don't think you understand crypto very well, the incentive to maintain any network your mining is built into the fundamentals of crypto currency.

The 51% people remind me of the end if the Internet year 2.000 people.

It doesn't make any sense whatsoever, even though a 51% is technically possible withe even BTC, let alone any alt coin on the market today.

[KimJongUn]

Why would a miner, that is mining the large majority of a coin, fork or even control more than 50%?  

Because they can.  Or maybe just to show people like you how stupid it is to try to create a "Traders Only" coin.

It will be hilarious to watch the chaos when people fork your coin over and over again, just for fun.

Hell, I'd throw a couple hundred megahashes at that and plenty of other people would, too.

[IncreaseMyT]

Wow very crypto, now the miners bully the market? Lol good thing I got away from those banksters to entrust my money in a peer to peer network.  

3 months is an eternity in crypto, when this coin goes up it shoots up, VERY fast, just like NMC.  It's fun to trade, look at that spread.  My original plan was to sell it well over a dollar, I'm going to stick with that.

You mad bro?

[KimJongUn]

Wow very crypto, now the miners bully the market?

Absolutely they do.  I'm not saying that's a good thing.  It's not.  And it's one big reason why so many coins are going to PoS.

3 months is an eternity in crypto, when this coin goes up it shoots up, VERY fast, just like NMC.  It's fun to trade, look at that spread.  My original plan was to sell it well over a dollar, I'm going to stick with that.

OK, now you are making some sense.  If you plan to get in and get out of this coin within 3 months, then you might make some money.  

Of course, you would make a shit load more if the dev actually had a plan for securing the coin for more than a couple of months so that the long-term investors would buy.

[IncreaseMyT]

Which is my point, it's nice to know who's accountable for the coin, I'm sure efforts will be made to rectify any issues that may come up, cause 3 months is an eternity.

I still have a gut feeling drk/naut is the BTC/LTC of mintpal.  Dark has been following BTC, so if we get a dip in BTC, I think LTC and naut will go up fast, cause people don't have time to sell drk at the too then transfer to go to cash, so LTC and naut will be used to buy time.

I've called more big pumps than I can remember, but I've been wrong a few times.

[huynhthuan99]

NAUT will up in 2h

[boogi]

NAUT will up in 2h

You wouldnt lie to me would you?

[Kergekoin]

What is fascinating to me is that the NSF will buy at any price, so why a miner would sell at these prices is unclear.

No, actually it's crystal clear if you have the slightest clue how all this works.

I am more than happy to update the community on what we are doing, but I will stop posting if all I get is negative responses. I have much better things to do with my time.

Don't let some clowns hold you down, that's exactly what they want. The internet is populated by many trolls - you should simply ignore them (and maybe even just remove their responses, nobody's going to mind if you do). Don't stop posting though - this would only negatively affect your supporters and yourself, whereas the trolls aren't going to care at all.

Dev. You need to keep doing your thing, but do it with honesty. Face the facts and admit your mistakes. You stability system was a failure by its design and you know it.
All the pretty words in OP mean nothing without results.
Anyone who disagrees - keep dreaming. Life is much more beautiful in dreams. 

[FlyingMongoose]

Hey guys,

Did you know that you can trade every coin with every coin on C-Cex?
Check it out!


https://c-cex.com/?rf=08CAB0B01CBED626

Way to use a referral link to point to an exchange that doesn't trade THIS coin.

This coin is way undervalued right now, time to buy lots!

[boogi]

yep im thinking if BTC and DRk retrace we might have a nice little rally on our hands

[boogi]

Where can we see the actions of the NSF?

[airtreb]

according to current pool stats you can mine 20 NAUT a day with 1,733 KH/s

A 280X hashes at 700KH/s at roughly 250watt. Lets say 1KWh is $ 0.10, that means u pay $ 0.60 a day.

1,733/700*0.60= $ 1.49

cost of mining NAUT, only electricity included and not the equipment would be 1.49/20= $ 0.074 and current price of writing is $ 0.087

this calculation only applies at current difficulty.

So at this moment at current prices there are miners that believes in NAUT, if not they probably move on. <-- from a miners perspective.

so i think its better to buy this coin than mining it if you still believe in this coin... 

[FlyingMongoose]

Where can we see the actions of the NSF?

You'll have to sift through this thread (for now).

BK, you might want to post up an "NSF History" page on the main web site, or within the OP.