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

[Macno]

In the long run, those technical stuff will not add value to a coin. The only thing that matters is the useability outside of the cryptoworld. Though I bought DRK early, hit the jackpot, I dont think DRK will be one of the very long term coins. Starts with the name: what (relevant) company will ever accept something called "darkcoin"? Total anonymisation will also lead to non-acceptance rather than acceptance in the "real" world. Everyone seems to love it, I think it will hold back the coins in the end. Thats just my opinoin though, I will still buy those coins for the short/medium term profit.

But you are right, as I see it Naut is basically BK. If he would lose interest, there is nothing much thats left. High risk investment for sure, but thats the case for all cryptos. he might however, push the coin and the community in the right direction, look at his last posts. I would not underestimate the importance of the person at the top. There is so much money involved in crypto, that the role on top has to be filled - sooner or later - by someone business-related and not a tech-guy or some unprofessional community member (hint:BC, feel free to disagree).

Hi! Thanks for sharing your thoughts on this!
DRK to me is an important part of my crypto portfolio (early adopter as well...), because I think there is a market for digital cash, which it basically is (unlike BTC, NAUT etc, because of the open blockchain). That market is different and it`s users won`t care about the "dark" in name (they probably even like it...).
I`m no Darkmarket user, but from a political (libertarian) perspective, I support the idea of anonymous wealth transfer.

NAUT (and BTC) on the other hand go for the mainstream, for people who do not care much about privacy in the first place.
A possible idea for NAUT in this space could be to turn the NSF into an exchange by itself, instead of relying on multiple other exchanges (kind of like DGEX with NXT, where you can only trade NXT/BTC). Kelly could provide "deposit insurance" there (very important psychologically in my opinion) for people (moms and pops) depositing their NAUT with it (should be easy to implement, if you renounce some liquidity, i.e. 1 day or 12 hours for insured deposits).
That would be something unique, but maybe it get`s to deep into the banking business (licenses etc).

Anyway, I agree with you that NAUT investors basically speculate on Mr Kelly being willing to move this project ahead.

Let`s see.

EDIT: As he is a Wall Street guy himself, I`d appreciate more detailed infos on how he plans to make NAUT the go to Crypto for Wall Street people.

[maxsinner]

someone bought a ton of coins today   
but something keeps pushing it down!

It's called MINERS

[maxsinner]

When does mining end for NAUT?

Probably not any time soon, were at 3.3m?
Someone...some THING has been dumping for like 2 weeks.

Then there's also XDQ to worry about.
Why its paired with NAUT? I will never understand

It could be XDQ Miners dumping to NAUT then dumping to BTC, but ultimately complaining about dumps and other coins is counter-productive to improving this one. Lets brainstorm peoples. I've already PM'd BK my idea on what I'm building, and I am not yet prepared to announce it. But lets start looking at options, I also posted some sort of exercise incentive based program, earn naut that way.

Not sure what else we can do.

Actually some of XDQ miners hold in long term and also hold NAUT, selling both coins only for BTC.

I think 24 hour volume on allcrypt is only 500 XDQ or about 2500 NAUT.

We need a hint about POS. Will it be implemented before or after all coins are mined?

BK said in one of his recent posts that PoS will be implemented "very soon". It sounded like  he plans to do it a lot earlier before end of PoW. But it's possible that I might have misinterpreted him.

[Doging]

In the long run, those technical stuff will not add value to a coin. The only thing that matters is the useability outside of the cryptoworld. Though I bought DRK early, hit the jackpot, I dont think DRK will be one of the very long term coins. Starts with the name: what (relevant) company will ever accept something called "darkcoin"? Total anonymisation will also lead to non-acceptance rather than acceptance in the "real" world. Everyone seems to love it, I think it will hold back the coins in the end. Thats just my opinoin though, I will still buy those coins for the short/medium term profit.

But you are right, as I see it Naut is basically BK. If he would lose interest, there is nothing much thats left. High risk investment for sure, but thats the case for all cryptos. he might however, push the coin and the community in the right direction, look at his last posts. I would not underestimate the importance of the person at the top. There is so much money involved in crypto, that the role on top has to be filled - sooner or later - by someone business-related and not a tech-guy or some unprofessional community member (hint:BC, feel free to disagree).

Hi! Thanks for sharing your thoughts on this!
DRK to me is an important part of my crypto portfolio (early adopter as well...), because I think there is a market for digital cash, which it basically is (unlike BTC, NAUT etc, because of the open blockchain). That market is different and it`s users won`t care about the "dark" in name (they probably even like it...).
I`m no Darkmarket user, but from a political (libertarian) perspective, I support the idea of anonymous wealth transfer.

NAUT (and BTC) on the other hand go for the mainstream, for people who do not care much about privacy in the first place.
A possible idea for NAUT in this space could be to turn the NSF into an exchange by itself, instead of relying on multiple other exchanges (kind of like DGEX with NXT, where you can only trade NXT/BTC). Kelly could provide "deposit insurance" there (very important psychologically in my opinion) for people (moms and pops) depositing their NAUT with it (should be easy to implement, if you renounce some liquidity, i.e. 1 day or 12 hours for insured deposits).
That would be something unique, but maybe it get`s to deep into the banking business (licenses etc).

Anyway, I agree with you that NAUT investors basically speculate on Mr Kelly being willing to move this project ahead.

Let`s see.

EDIT: As he is a Wall Street guy himself, I`d appreciate more detailed infos on how he plans to make NAUT the go to Crypto for Wall Street people.

Perhaps a service where someone can transfer NAUT on to a USB sticks and post it to people who know nothing about computers or crypto. Look what happened to maxcoin after keiser plugged it on RT, if someone saw BK discussing his coin on TV and wanted 5 or 10k to put away for a year or so this might be attractive to them. My father phoned me up after watching keiser and demanded I buy him a load of maxcoin, he wouldn't have been able to buy them without me so I think it's a potential market. Would make great gifts or just an investment to put away for a couple of years.

[Fredericolitch]

Does the yesterday pump was due to NSF ? Or a new member in accumulation mode ?

otherwise, acceptance is essentialy built on price, we need more buy pressure.
Actually, more or less 20% of all naut are mined, its fast. Soon miners sells will not impact a lot on price, or is it already the case ? (~10k satoshi since a week)
POS implentation will help to attract investors and miners to not dump.
More trading places, more merchant acceptance, will probably help.


When i look on twitter nautilus advices, a lot of people are not convinced by NSF. Correct me if i'm wrong, but we need more capitalization before NSF can be really usefull right ?
Peraphs it would be necessary to argue about NSF to convince people, its the real innovation of Naut.

I guess a lot of people watching naut and wait something big to invest in.

[HKBvM]

The USB Sitck-idea is really nice, also for marketing purposes. You could give them away for free with small amounts on it.

Another thing I like to mention is (sorry if it has been posted eralier), if it turnes out to be difficult to get merchants to adopt Naut, they may be more easily convinced to use it as a payback-system first. For example 1% of the value of your purchase back, but not in the local currency, but in Naut. That would also help to increase the number of persons involved in Naut or cryptos in general.

When it comes to merchants, it is obvious that you should start with those whose customers have a high affinity to new technologies. This could mean branches, for example the non-shady gaming industry, or local shops which have mostly those customers beacuse of their location, such as near universities.

About the NSF: If I remember correctly it is 1% of all coins? You absolutely cannot expect such a fund to work against the market. When the price jumped from 10k to 90k, there is no way to stop it (and you should not), and of course afterwards the price had to come down, especially with the amount of new mined coins every day. But I understand, that those who were caught bagholding on the way down, were hoping that the fund would save them and are questioning now, if it actually works.

The NSF is a nice tool in the future when the price has stabilized more, let the coin find its price. Then we can see if it actually works and if it can take out some of the volatility. Volatility is problem for merchants, its not a problem for trading, which is where we are until now.

[MrBea]

Any paperwallet support?  Vanitygen settings?

MANY WONT BUY THIS COIN WITHOUT A PAPERWALLET SOLUTION.

DO THAT

[BK_PHI]

When does mining end for NAUT?

Probably not any time soon, were at 3.3m?
Someone...some THING has been dumping for like 2 weeks.

Then there's also XDQ to worry about.
Why its paired with NAUT? I will never understand

It could be XDQ Miners dumping to NAUT then dumping to BTC, but ultimately complaining about dumps and other coins is counter-productive to improving this one. Lets brainstorm peoples. I've already PM'd BK my idea on what I'm building, and I am not yet prepared to announce it. But lets start looking at options, I also posted some sort of exercise incentive based program, earn naut that way.

Not sure what else we can do.

Actually some of XDQ miners hold in long term and also hold NAUT, selling both coins only for BTC.

I think 24 hour volume on allcrypt is only 500 XDQ or about 2500 NAUT.

We need a hint about POS. Will it be implemented before or after all coins are mined?

BK said in one of his recent posts that PoS will be implemented "very soon". It sounded like  he plans to do it a lot earlier before end of PoW. But it's possible that I might have misinterpreted him.

The plan is to implement before PoW mining ends BUT my idea for PoS is more complicated than originally anticipated so it is taking a little longer than expected.

[BK_PHI]

Good Morning All

My project for today is to find a provider of prepaid cards that I can load different amounts of NAUT and then sell to people who want to buy for long term investment.  Does anybody know who does this?

BK

[BK_PHI]

Good Morning All

My project for today is to find a provider of prepaid cards that I can load different amounts of NAUT and then sell to people who want to buy for long term investment.  Does anybody know who does this?

BK

Just found Prypto...anyone have experience with them?

[Doging]

The blackcoin cards look really nice but I think they cost $20 each.

[MrBea]

Good Morning All

My project for today is to find a provider of prepaid cards that I can load different amounts of NAUT and then sell to people who want to buy for long term investment.  Does anybody know who does this?

BK

Just found Prypto...anyone have experience with them?

This is a paperwallet.

Anyone?

[maxsinner]

When does mining end for NAUT?

Probably not any time soon, were at 3.3m?
Someone...some THING has been dumping for like 2 weeks.

Then there's also XDQ to worry about.
Why its paired with NAUT? I will never understand

It could be XDQ Miners dumping to NAUT then dumping to BTC, but ultimately complaining about dumps and other coins is counter-productive to improving this one. Lets brainstorm peoples. I've already PM'd BK my idea on what I'm building, and I am not yet prepared to announce it. But lets start looking at options, I also posted some sort of exercise incentive based program, earn naut that way.

Not sure what else we can do.

Actually some of XDQ miners hold in long term and also hold NAUT, selling both coins only for BTC.

I think 24 hour volume on allcrypt is only 500 XDQ or about 2500 NAUT.

We need a hint about POS. Will it be implemented before or after all coins are mined?

BK said in one of his recent posts that PoS will be implemented "very soon". It sounded like  he plans to do it a lot earlier before end of PoW. But it's possible that I might have misinterpreted him.

The plan is to implement before PoW mining ends BUT my idea for PoS is more complicated than originally anticipated so it is taking a little longer than expected.

You don't really need to implement something too fancy imho. Just PoS with a low interest rate (around 3-5% per year) and reduce the number of coins from PoW. This will put you a couple of months ahead of the current development curve and will give your present and future investors a lot more confidence in the coin. At the moment a lot of people are seeing it as we investors and the NSF are only feeding BTC to the miners.

[mdtspain]

It's all very nice and all the coins are screaming the same thing...LET'S FIND A WAY HOW PEOPLE CAN PAY WITH OUR COIN.

The cryptocoins are in the baby stages. Crypto coins are no money.You can trade them for something else, but it's no money. They are a verhicle like gold, silver and so on.

It is worth money, but you can't buy bread with it at the bakery. So....you need to make it interesting for people to make money with it. That will create value to your coin, just like stocks.

You want a local bakery to accept your coin...well sorry to say, but you must think bigger. You want your coin to be accepted as a prepaid creditcard? Where? in the USA...you must think bigger.

That is the reason why all these coins can't get it done....crypto coins are no money....it's more like stocks

[kehtolo]

It's all very nice and all the coins are screaming the same thing...LET'S FIND A WAY HOW PEOPLE CAN PAY WITH OUR COIN.

The cryptocoins are in the baby stages. Crypto coins are no money. They are a verhicle like gold, silver and so on. It is worth money, but you can't buy bread with it at the bakery. So....you need to make it interesting for people to make money with it. That will create value to your coin, just like stocks.

You want a local bakery to accept your coin...well sorry to say, but you must think bigger. You want your coin to be accepted as a prepaid creditcard? Where? in the USA...you must think bigger.

That is the reason why all these coins can't get it done....crypto coins are no money....it's more like stocks

..First we take Manhattan..then we take Berlin!

No, but seriously, that is a stated goal for this coin, to become merchant accepted. I think with someone like Brian behind this thing, there might be a chance of that happening. It can't just go from 0-100% overnight though, it will take time (a lot) and patience (also a lot) to see this thing moving and a shift in adoption rates.

"At the moment a lot of people are seeing it as we investors and the NSF are only feeding BTC to the miners."

I can understand this feeling too.. i've also invested some (last week) because i believe this coin has more chance of being a hit than the others out there. But i know this feeling.
That is why i mentioned patience above. (Even though i myself know how hard it can be to remain patient)

[maxsinner]

It's all very nice and all the coins are screaming the same thing...LET'S FIND A WAY HOW PEOPLE CAN PAY WITH OUR COIN.

The cryptocoins are in the baby stages. Crypto coins are no money. They are a verhicle like gold, silver and so on. It is worth money, but you can't buy bread with it at the bakery. So....you need to make it interesting for people to make money with it. That will create value to your coin, just like stocks.

You want a local bakery to accept your coin...well sorry to say, but you must think bigger. You want your coin to be accepted as a prepaid creditcard? Where? in the USA...you must think bigger.

That is the reason why all these coins can't get it done....crypto coins are no money....it's more like stocks

I agree. People buy the coins as investment and not hoping that they can tip a waitress lol. Once you reach a marketcap of 1bil+ then people might start thinking about tipping waitresses, strippers and whatnot. But being at 200k marketcap, you can be sure that nobody would bother paying in restaurants with your coin. You don't need merchants to bring the marketcap to 2-3mil, you need solid fundamentals and making the coins hard to obtain. If a merchant integrates NAUT at the moment, he is just wasting his time since the coin is not well distributed. Work first on the coin and the distribution and don't waste your time speaking with restaurants and gass stations etc. at this point of time.

[kehtolo]

There is no point trying to tip someone in a currency they don't accept!

I can't go to New York and tip in Pescos!!

Agreed re: market cap.. following on from that will be the fact that 1 coin actually has a value above $0.07 - parity with the dollar would be a great mid-term goal for this coin.
Then you would see wider adoption, driving prices up and spurring more adoption. Then you might see tipping.

[Doging]

When does mining end for NAUT?

Probably not any time soon, were at 3.3m?
Someone...some THING has been dumping for like 2 weeks.

Then there's also XDQ to worry about.
Why its paired with NAUT? I will never understand

It could be XDQ Miners dumping to NAUT then dumping to BTC, but ultimately complaining about dumps and other coins is counter-productive to improving this one. Lets brainstorm peoples. I've already PM'd BK my idea on what I'm building, and I am not yet prepared to announce it. But lets start looking at options, I also posted some sort of exercise incentive based program, earn naut that way.

Not sure what else we can do.

Actually some of XDQ miners hold in long term and also hold NAUT, selling both coins only for BTC.

I think 24 hour volume on allcrypt is only 500 XDQ or about 2500 NAUT.

We need a hint about POS. Will it be implemented before or after all coins are mined?

BK said in one of his recent posts that PoS will be implemented "very soon". It sounded like  he plans to do it a lot earlier before end of PoW. But it's possible that I might have misinterpreted him.

The plan is to implement before PoW mining ends BUT my idea for PoS is more complicated than originally anticipated so it is taking a little longer than expected.

You don't really need to implement something too fancy imho. Just PoS with a low interest rate (around 3-5% per year) and reduce the number of coins from PoW. This will put you a couple of months ahead of the current development curve and will give your present and future investors a lot more confidence in the coin. At the moment a lot of people are seeing it as we investors and the NSF are only feeding BTC to the miners.

Won't reducing the number of coins from POW just mean less people mine it and difficulty drops until same number of coins are created? I think a more generous POS payout would be needed too.

[maxsinner]

When does mining end for NAUT?

Probably not any time soon, were at 3.3m?
Someone...some THING has been dumping for like 2 weeks.

Then there's also XDQ to worry about.
Why its paired with NAUT? I will never understand

It could be XDQ Miners dumping to NAUT then dumping to BTC, but ultimately complaining about dumps and other coins is counter-productive to improving this one. Lets brainstorm peoples. I've already PM'd BK my idea on what I'm building, and I am not yet prepared to announce it. But lets start looking at options, I also posted some sort of exercise incentive based program, earn naut that way.

Not sure what else we can do.

Actually some of XDQ miners hold in long term and also hold NAUT, selling both coins only for BTC.

I think 24 hour volume on allcrypt is only 500 XDQ or about 2500 NAUT.

We need a hint about POS. Will it be implemented before or after all coins are mined?

BK said in one of his recent posts that PoS will be implemented "very soon". It sounded like  he plans to do it a lot earlier before end of PoW. But it's possible that I might have misinterpreted him.

The plan is to implement before PoW mining ends BUT my idea for PoS is more complicated than originally anticipated so it is taking a little longer than expected.

You don't really need to implement something too fancy imho. Just PoS with a low interest rate (around 3-5% per year) and reduce the number of coins from PoW. This will put you a couple of months ahead of the current development curve and will give your present and future investors a lot more confidence in the coin. At the moment a lot of people are seeing it as we investors and the NSF are only feeding BTC to the miners.

Won't reducing the number of coins from POW just mean less people mine it and difficulty drops until same number of coins are created? I think a more generous POS payout would be needed too.

Not really. I'd just stop PoW at a certain block, not reduce the PoW rewards. After PoW is gone, then you can decide whether to have a flat yearly interest rate like 3-5% or have a declining one like starting from 10% until the end of the first year and then 5% next year, 3% after that etc. etc.

[Doging]

That makes sense as block reward reduction doesn't always work. Starting with a very generous interest rate and reducing it sounds good to me.