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

[kehtolo]

Maybe funny to us mtdspain or others outside the US - but it's a different matter to those inside the US, esp. those on Wall st. - you know, like the exact type of people who BK is trying to attract to this coin.

Honestly, from reading these forums and being involved in bitcoin over the last year or so, I can sense the fear / paranoia that US citizens seem to have of their regulatory bodies / IRS / whoever.

They have real powers and to fall foul of these guys brings real hardship and heavy handed treatment.
It would be imperative on any serious business to stay on the right side of the powers that be in the US.
The penalties for not doing so are outrageous.

[Wheeljack]

Nautilus - the holding company that doesn't have the risk of holding.

The "basket" doesn't even have to be coins. It can be mining time/shares, content, CC friendly merchants, anything where a "bridge into the real world" might be valuable.

This is awesome! An investment fund for those wanting to put some money into crypto, but who for some reason don't like Bitcoin :-) I think this is something that would do incredibly well, even among investors who aren't necessarily very rich. I know a ton of people who would love to throw a couple of hundred, or even thousands, of dollars on the crypto market, but they don't know enough to feel safe doing so.

Having someone like BK provide a way for non-techies to invest would be a true game changer. This could be something that would not only make NAUT one of the top alt coin, but an actual Bitcoin competitor!

We can think of it as being like a restaurant that serves burgers via drive thru at the back, but luxury cuisine at the front. By joining the high and low ends of the market, people get things they don't expect. The "bronze" customers would get the promise of quality beyond their expectations, the "gold" get the convenience, reliability and speed without the hassle they might have expected.

The same service that uses NAUT to get younger holders (for example) discount Amazon vouchers, could be acting as a holding company/fund for older and richer clients, or acting as a CC exchange. This a rare opportunity for a service to work for two seperate ends of the market. NAUT can be sold to Wall Street as a way to advertise to a new generation of investors.

BK says "Wall Street's Cryptocoin" but it can also be "Crypto's Wall Street"

[mdtspain]

Maybe funny to us mtdspain or others outside the US - but it's a different matter to those inside the US, esp. those on Wall st. - you know, like the exact type of people who BK is trying to attract to this coin.

Honestly, from reading these forums and being involved in bitcoin over the last year or so, I can sense the fear / paranoia that US citizens seem to have of their regulatory bodies / IRS / whoever.

They have real powers and to fall foul of these guys brings real hardship and heavy handed treatment.
It would be imperative on any serious business to stay on the right side of the powers that be in the US.
The penalties for not doing so are outrageous.

I agree with you. That's why the BIG companies find "friendly" countries where they have there holdings.

[BTCrawl]

Maybe funny to us mtdspain or others outside the US - but it's a different matter to those inside the US, esp. those on Wall st. - you know, like the exact type of people who BK is trying to attract to this coin.

Honestly, from reading these forums and being involved in bitcoin over the last year or so, I can sense the fear / paranoia that US citizens seem to have of their regulatory bodies / IRS / whoever.

They have real powers and to fall foul of these guys brings real hardship and heavy handed treatment.
It would be imperative on any serious business to stay on the right side of the powers that be in the US.
The penalties for not doing so are outrageous.

I agree with you. That's why the BIG companies find "friendly" countries where they have there holdings.

I disagree - being traded on Wall Street is a huge thing, not only because of the market it opens up but from a PR perspective. It's worth it to wait while all the regulatory hurdles are cleared just for that alone, not to mention that it will make NAUT legitimate in everyones eyes and help separate it from other coins.

[wenwen478]

希望能 得到这个币 可以吗

[kehtolo]

希望能 得到这个币 可以吗

Thanks for that insightful input! 

Actually, google translate give me this: "I hope you can do to get this currency"

Which, I interpret as a message of good luck!!

[burner2014]

My opinion about Nautiluscoin

http://www.mining-thailand.com/cryptotalk-vol-1/

[Doging]

You could sell NAUT to Wall Street as a way to invest in other cryptos indirectly. You buy on their behalf via NAUT, the NSF eats the risk, you pay out via NAUT on demand and any fees go back into the NSF.

I am trying to understand your idea: Are you suggesting NAUT become a 'hedge' fund of crypto coins?  If you buy NAUT you are buying a basket of coins?

As toxic as this idea might sound to many here, I am absolutely suggesting this.

Think about it this way.

You buy NAUT on an exchange. That's "bronze" level. It goes into your wallet. That's for us, traditional Bitcoin enthusiasts, people who spend a small amount of money experimenting with crypto because it's fun, and occasionally there's a payout to our speculation. Mostly we have Bitcoin. We like tech, new algos and strong personalities. We mostly don't have any economic experience.

But you could also offer a "silver" or "gold" level where you don't buy NAUT on an exchange, but via a card or document. Something to hold that anyone can understand. The user still keeps the private keys (this is vital) to the wallet, but additionally you may offer a "sliding scale" service where a viable % is also paid to purchase a basket of coins on behalf of invesotrs. The user doesn't get those coins in a wallet, only the NAUT, but they can convert those back into NAUT. This for risk adverse investors who want to put a large amount of money down and not worry about the details. People with economic experience who have many other assets to think about. Imagine how profitable it would have been to have this in Febuary, before Darkcoin and before Black! Then you can start tempting the "bronze" level in with merchant deals or bonuses...

The mistake with DIRAC was currency pairing, which is nothing but the same mistake as having a peg and actually a step backwards from your "reserve currency" idea. But NAUT's strength so far is that it is a coin that learns from its mistakes. Very quickly. You already bought some DIRAC, why not a "basket" fund for your investors, too? Why stop at one pair? Who says we even need exchanges?

I like the idea and it is actually something I have been working on - essentially what you are suggesting is a fund that is priced in NAUT - similar to John Paulson's fund that is priced in Gold.  At this point I am at the regulatory exploration stage, I am not sure whether or not it would fall under US securities law.  I know I can setup a private investment vehicle, it gets trickier when offering to the general public.

This thread just got really interesting.

[FlyingMongoose]

Just a heads up - we received a bunch of orders for shirts and have sold out.  I am re-ordering, but it will take 7-10 days to get them printed.  If you just ordered recently it may take 2 weeks to get them out to you.

Sorry for the inconvenience, but I a very glad people are representing!


-BK

  BK, do you ship to the UK?

Here is some encouraging news for the coin : http://www.reddit.com/r/nautiluscoin/comments/28b8qf/announcing_nautiluscontent/  

very cool idea!!  this is the type of thing that will sustain NAUT in the long run, I know we all want a nice price pop, but once that happens we need an ecosystem like this to sustain the coin.

Agree, I will be tipping the writers of articles to show support.

I wrote one of the first third party articles that had at least a bit of a concentration on NAUT over at this site: http://www.examiner.com/article/virtual-currencies-the-good-the-bad-and-the-money a bit of naivity in functionality of the coin at first, but brought some additional attention.

Always welcome to tip directly NZwuGk2BUoMyx2a3YbMiUxret8H45geHZ8 of course, I just do these things primarily because I believe in the coin and goals behind it, so I don't want anyone to feel obligated.

Also. Still no communication on implementing new CSS for reddit

Shit damn blast FlyingMongoose that's a good article, now I feel "obligated" to send you a tip  
Now in a restaurant it's 10% but what % do you tip for an article? Especially when you consider what NAUT will be worth in a few months time. Pizza and BTC comes to mind, while I am on this point
200 NAUT for a T-Shirt?? GULP, SPLUTTER Hummmmmm I will have to think about that.  
 

FlyingMongoose, I am a man of my word, just sent you a tip for all the good work and articles you are doing for NAUT, get yourself a T-Shirt as well   I am just about to order mine  

Wow dude, thanks so much, you didn't have to. When I'm ready for my closed beta on my big project I'll be sure to put you in to the list for the first roll of invites.

I'm unfortunately a good distance away from announcing what it is yet though.

Great news on Proof of Stake, and for those who were wondering, Virtual Currency in the United States is classified as an Asset (pretty much same classification as land). Some members of the US government are trying to get it reclassified as a currency: https://www.govtrack.us/congress/bills/113/hr4602 but as that page says expected "chance of passing" is 1%.

[PilotofBTC]

PoS Update

We have begun the coding work on PoS, it is estimated it will take about a week to complete and then we will need to test.  The one thing I have learned about crypto is to expect the unexpected! I don't want to over promise and under-deliver so I will only post about what is completed and tested. As we move further in the process I will be able to get a realistic date of implementation. My desire has always been for PoS to be implemented well before the PoW stage is done.

In terms of stake (or 'dividend' for guys like me) I have set it at 2%. I had hoped to tie the stake to a well known price index, but relying on a third party would compromise network security. I chose 2% because most central banks target 2% inflation per year - Wall Street will understand this.  I am also consulting with a few well respected economists to determine if there is such a thing as 'optimal money supply growth' - so far we have not found it - if we can determine an optimal method then we will try to incorporate with PoS...BUT no promises as this is much more art than science.

-BK

Hmm... 2% sounds pretty low. How would this affect the coin population? For example, I think the percentage should start higher and adjust down as you get to your original projected 16m coins. I haven't done the math, but figure out what percentage rate would garner the same amount of coins as the current mining. ALthough, I think maybe the current mining is going to fast.

I suggest that you project what level of interest would take the coin to 15million in 5 years using a percentage that reduces each year, say 20% year 1, 15% year 2, hoping to hit 15mm year 5, and then go to 1% - 2% for maintenance.

Have you considered a PoS that stops mining coins at X number of coins and the stake rewards at that point come 100% from fees. This would keep the population of coins fixes at the final population, preventing inflationary price creap and instead cause a deflationary creap, ie, 1 coins buying power will increase as more and more people use the coin?

thanks...

[Wheeljack]

2 percent is ideal. It seems like the team are making decisions that maximize the utility of the NSF which is good, because it keeps things open in case a great idea comes up.

I really hope that POW ends at 5mil, because that would preserve the potency of the NSF - because who knows what great idea could come up in the future that'll need the NSF at maximum potency?

Letting POW run towards 10mil or a bigger stake reward would be a total disaster, in my opinion, and make this coin's biggest feature worthless.

Less than 2mil coin - the NSF did more harm than good, did nothing but cause big spikes and helped whales/miners manipulate the market.
More than 10mil POW before staking - the NSF would be totally useless unless there's a huge merchant market to give NAUT liquidity

4 - 6mil is the sweet spot, 2 percent is great growth that keeps all the ideas on the table. We're seeing great Growth - Retrace - Equilibrium - Growth patterns right now, let's see it continue!

[BK_PHI]

Somebody mentioned that they bought NAUT on margin?  Is that even possible? if so does anyone know which exchange?

[BTCrawl]

Somebody mentioned that they bought NAUT on margin?  Is that even possible? if so does anyone know which exchange?

I don't think this is true - only altcoin exchange I know that allows margin trading is Bitfinex, and they only have Litecoin and Darkcoin.

[BK_PHI]

Somebody mentioned that they bought NAUT on margin?  Is that even possible? if so does anyone know which exchange?

I don't think this is true - only altcoin exchange I know that allows margin trading is Bitfinex, and they only have Litecoin and Darkcoin.

thanks, it looks like Allcyrpt will loan BTC, so that is what they must have done

[BTCrawl]

Somebody mentioned that they bought NAUT on margin?  Is that even possible? if so does anyone know which exchange?

I don't think this is true - only altcoin exchange I know that allows margin trading is Bitfinex, and they only have Litecoin and Darkcoin.

thanks, it looks like Allcyrpt will loan BTC, so that is what they must have done

Sorry, I didn't know that. I will check them out :-)

[sha0lin40]

Im having issues with the wallet not updating. It says its 1 hour behind, but its been over a day and it hasn't changed.

Anyone know how to fix this?

[FlyingMongoose]

Im having issues with the wallet not updating. It says its 1 hour behind, but its been over a day and it hasn't changed.

Anyone know how to fix this?

Someone posted that they left theirs closed for 10 minutes, re-opened it, and it synced fine.

[sha0lin40]

Im having issues with the wallet not updating. It says its 1 hour behind, but its been over a day and it hasn't changed.

Anyone know how to fix this?

Someone posted that they left theirs closed for 10 minutes, re-opened it, and it synced fine.

Tried that and now it says its 3 hours behind. lol

this is the nautiluscoin.conf file:

rpcuser=xx
rpcpassword=xx
rpcallowip=127.0.0.1
rpcport=1161
port=11161
daemon=1
server=1
gen=0
addnode=54.186.223.183
addnode=54.187.101.97
addnode=74.208.230.160
addnode=184.155.218.183
addnode=71.227.74.98
addnode=188.194.8.82
addnode=109.201.154.157
addnode=184.155.218.183

[FlyingMongoose]

Im having issues with the wallet not updating. It says its 1 hour behind, but its been over a day and it hasn't changed.

Anyone know how to fix this?

Someone posted that they left theirs closed for 10 minutes, re-opened it, and it synced fine.

Tried that and now it says its 3 hours behind. lol

this is the nautiluscoin.conf file:

rpcuser=xx
rpcpassword=xx
rpcallowip=127.0.0.1
rpcport=1161
port=11161
daemon=1
server=1
gen=0
addnode=54.186.223.183
addnode=54.187.101.97
addnode=74.208.230.160
addnode=184.155.218.183
addnode=71.227.74.98
addnode=188.194.8.82
addnode=109.201.154.157
addnode=184.155.218.183

Yours matches mine... and I'm all caught up... so I don't know what's wrong.

What platform are you on?

[Doging]

Mine is stuck at 3 hours. W7