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

[FlyingMongoose]

I believe there is a misunderstanding as to what the NSF actually is. It's not a means to regulation (as above me stated that's simply not possible), it is a means to help enforce acceptance. It's also been pointed out a 1% premine is by no means the amount necessary to ENFORCE any price (only slow down movement a little).

While the few businesses accepting bitcoin right now are pointing out what they DO transact in bitcoin is making them money, it's still a very high risk, because bitcoin within the 8-12 (even 14) hour work day can fluctuate in value so much so that there is a margin for error of projected losses for accepting bitcoin (seriously this will become a market standard term if it remains in current state).

The idea behind the NSF can be equated to this;
A small business owner keeps cash in safe until the end of the day.

At the end of the day he takes his cash (presumably with a bag with a $ symbol on it, because that's the only thing that makes sense) to the bank. Between receiving that cash, and taking it to the bank, the small business owner knows that each dollar will remain it's value.

The current state of crypto (and bitcoin) is like having that cash sack expand and decrease constantly, for a SMALL business owner that is potentially too high a risk. It'd be like once in a while he decides to put his money into a sack with a hole in it (bag holders, right?).

The NSF idea is to help the small businesses (by the end of each day), know that they're going to receive the financial compensation for their work as was agreed upon.

Here's where legal matters come in. Many businesses who accept crypto currencies do so under the stipulation that the transaction is representative of the fiat currency represented by the crypto. This means that often your legal transaction under bitcoin unless IMMEDIATELY transacted to the fiat representation, may end up with you paying less (great for you), but you used a card and signed a receipt, you're now under legal obligation to provide that difference otherwise you're stealing. This is crypto in it's CURRENT state, now we all hope to see it become a standard of trade and we'd love to see it just replace fiat, and while we all clamor for that future it's a bit of a way's off. NAUT's NSF is attempting to help those small businesses avoid that loss the big businesses can take the hit if it happens because they're already major huge businesses. But the little guy... no.

Oh, and on the comment made towards me on the 'we want less coins prior to proof of stake', I was only referencing one of the most basic laws of economics; supply and demand.

But here's the big benefit to NAUT, BK is not afraid to change the coin dependent on the climate; many people don't like Bryce (I personally have no opinion one way or the other as I have not had much interactions), but I'm sure Blocktech employees are plenty competent on getting their work done. I would also point out; you make enemies when you make money, especially in something like this, because SOMEONE is going to lose.

I still am buying NAUT (and loving these prices right now), but would love to see it go up.

@hcp are you still accepting NAUT donations for the Facebook campaign but matching fiat value?
You said you were keeping NAUT I just want to be sure how you're handling it before I push the donation address.
Example: I send you $20 worth of NAUT, and you match that out of pocket, leaving the NAUT in the wallet? (If so I'll update this post with it)

Don't forget to vote
http://www.btc38.com/trade/vote_for_trade.html
https://bter.com/voting
https://hitbtc.com/vote
https://www.swaphole.com/#!voting
http://www.betbycoin.com/coinvotes/

To Do:
Release Proof of Stake Wallet - Being Worked on by Blocktech
Mobile Wallet App - (Doesn't NEED to stake, but would be nice).
Multipool
Official block explorer - The NautInsight one is nice, but it's not marked as official (it wouldn't hurt to have that block explorer moved to the nautiluscoin domain)
Video(s) - Make Nautiluscoin promo videos!
Website update - Front page update
Come up with more plans to get naut into the hands of more people and more in the public eye

 - Nautiluscoin Community Manager
 - - Note that much of my posts are my own observations and opinions and not necessarily representative of Nautiluscoin itself.

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[open82buy]

+1  Good Post  . I am buying and stocking up as well. 

[whatdidshedo]

Fun Fact: I've been on a lot of threads of many coins in last few months, but only time i used ignore was on this thread(twice)

[boogi]

hey guys, so whats the explanation we have as to the NSF providing no stability at all.

[Doging]

You guys just don't want get it.

Before institutional investors start climbing into crypto, they will demand regulation first.

As what happens with all such financial regulation, it will be written by the megabank lobby firms on behalf of themselves and the institutional investors.

By involving extraneous red tape, third party fees and various taxes, the system will eventually be slowed down, monopolized and as expensive as trying to transfer dollars wirelessly.

End result: bitcoin and crypto become useless to the ordinary person and just another tool for the rich to exploit the poor.

Regulation will in no way benefit the global majority of current users. It will benefit non-empathetic, borg-like corporations.

Financial legislation will not be designed to help anybody except for the already extremely rich and powerful. There's an extensive U.S. legislative track record to back this assertion.

I'd be willing to be civil if someone could offer a decent rebuttal.

If world governments begin to enact regulation with regards to bitcoin, you can bet there will be developers on top of the issue finding ways to skirt the regulation on Day 1. There already are. This is because regulation is the antithesis of cryptocurrency.

Its my theory that its this type of "cognitive dissonance" that causes the cancer -- basically lying to yourself for your own personal gain, frequently at the expense of others.

"Cognitive dissonance is the excessive mental stress and discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time or is confronted by new information that conflicts with existing beliefs, ideas, or values"

>>> /r/bitcoin   

 


How is America going to regulate crypto worldwide? Even the Chinese government can't stop it being used for it's intended purpose, their regulations actually pushed bankers out of bitcoin because they're the only ones that had to follow them.

Will they be shutting down the internet or confiscating every single wallet? Look at bit-torrent, still going strong after all these years.

[FlyingMongoose]

hey guys, so whats the explanation we have as to the NSF providing no stability at all.

It has been repeatedly pointed out the NSF fund was far too small to provide any major impact on price one way or the other. The primary thing it's been equated to is a "speed bump". So it's intent is to slow movement, not prevent it (which ultimately is better overall anyway).

[BTCrawl]

hey guys, so whats the explanation we have as to the NSF providing no stability at all.

It has been repeatedly pointed out the NSF fund was far too small to provide any major impact on price one way or the other. The primary thing it's been equated to is a "speed bump". So it's intent is to slow movement, not prevent it (which ultimately is better overall anyway).

Especially during the PoW phase, when the inflation is skyhigh. When we switch to PoS it will be a completely different story.

[Doging]

I noticed they sync stability fund is investing in other cryptocurrencies, this was discussed on here weeks ago.

[BK_PHI]

I believe there is a misunderstanding as to what the NSF actually is. It's not a means to regulation (as above me stated that's simply not possible), it is a means to help enforce acceptance. It's also been pointed out a 1% premine is by no means the amount necessary to ENFORCE any price (only slow down movement a little).

While the few businesses accepting bitcoin right now are pointing out what they DO transact in bitcoin is making them money, it's still a very high risk, because bitcoin within the 8-12 (even 14) hour work day can fluctuate in value so much so that there is a margin for error of projected losses for accepting bitcoin (seriously this will become a market standard term if it remains in current state).

The idea behind the NSF can be equated to this;
A small business owner keeps cash in safe until the end of the day.

At the end of the day he takes his cash (presumably with a bag with a $ symbol on it, because that's the only thing that makes sense) to the bank. Between receiving that cash, and taking it to the bank, the small business owner knows that each dollar will remain it's value.

The current state of crypto (and bitcoin) is like having that cash sack expand and decrease constantly, for a SMALL business owner that is potentially too high a risk. It'd be like once in a while he decides to put his money into a sack with a hole in it (bag holders, right?).

The NSF idea is to help the small businesses (by the end of each day), know that they're going to receive the financial compensation for their work as was agreed upon.

Here's where legal matters come in. Many businesses who accept crypto currencies do so under the stipulation that the transaction is representative of the fiat currency represented by the crypto. This means that often your legal transaction under bitcoin unless IMMEDIATELY transacted to the fiat representation, may end up with you paying less (great for you), but you used a card and signed a receipt, you're now under legal obligation to provide that difference otherwise you're stealing. This is crypto in it's CURRENT state, now we all hope to see it become a standard of trade and we'd love to see it just replace fiat, and while we all clamor for that future it's a bit of a way's off. NAUT's NSF is attempting to help those small businesses avoid that loss the big businesses can take the hit if it happens because they're already major huge businesses. But the little guy... no.

Oh, and on the comment made towards me on the 'we want less coins prior to proof of stake', I was only referencing one of the most basic laws of economics; supply and demand.

But here's the big benefit to NAUT, BK is not afraid to change the coin dependent on the climate; many people don't like Bryce (I personally have no opinion one way or the other as I have not had much interactions), but I'm sure Blocktech employees are plenty competent on getting their work done. I would also point out; you make enemies when you make money, especially in something like this, because SOMEONE is going to lose.

I still am buying NAUT (and loving these prices right now), but would love to see it go up.

@hcp are you still accepting NAUT donations for the Facebook campaign but matching fiat value?
You said you were keeping NAUT I just want to be sure how you're handling it before I push the donation address.
Example: I send you $20 worth of NAUT, and you match that out of pocket, leaving the NAUT in the wallet? (If so I'll update this post with it)

Don't forget to vote
http://www.btc38.com/trade/vote_for_trade.html
https://bter.com/voting
https://hitbtc.com/vote
https://www.swaphole.com/#!voting
http://www.betbycoin.com/coinvotes/

To Do:
Release Proof of Stake Wallet - Being Worked on by Blocktech
Mobile Wallet App - (Doesn't NEED to stake, but would be nice).
Multipool
Official block explorer - The NautInsight one is nice, but it's not marked as official (it wouldn't hurt to have that block explorer moved to the nautiluscoin domain)
Video(s) - Make Nautiluscoin promo videos!
Website update - Front page update
Come up with more plans to get naut into the hands of more people and more in the public eye

 - Nautiluscoin Community Manager
 - - Note that much of my posts are my own observations and opinions and not necessarily representative of Nautiluscoin itself.

Great post!  Thanks for explaining what we are trying to accomplish.  I will just add my two cents....

NSF - it has not reduced volatility as I would have thought.  This is because I did not understand that miners auto-sell (the cost of being a newbie).  This was one reason I wanted to switch to PoS.  I think the NSF will be much more effective with PoS.  Take at look at how thin the market is when the blockchain is stuck...there is nothing for sale and quite a few large bids.  This leads me to think that when we make the switch to PoS the NSF will be able to support the price much better.

Multipool - I plan to set one of these up with the goal of increasing the purchasing power of NAUT - this will be one of the monetary policy tools.

Regulation - Whether we like it or not regulation is coming.  I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality.  Therefore, I think it is better to be involved in regulation so that we can shape how it is formed.

As I see it, the threat of regulation will encourage a rush of sh*t coins as devs attempt to make the last quick buck...BUT...once that phase is over those coins will die and the remaining real coins will be more valuable as total coin supply drops.

-BK

[NSCoins]

You guys just don't want get it.

Before institutional investors start climbing into crypto, they will demand regulation first.

As what happens with all such financial regulation, it will be written by the megabank lobby firms on behalf of themselves and the institutional investors.

By involving extraneous red tape, third party fees and various taxes, the system will eventually be slowed down, monopolized and as expensive as trying to transfer dollars wirelessly.

End result: bitcoin and crypto become useless to the ordinary person and just another tool for the rich to exploit the poor.

Regulation will in no way benefit the global majority of current users. It will benefit non-empathetic, borg-like corporations.

Financial legislation will not be designed to help anybody except for the already extremely rich and powerful. There's an extensive U.S. legislative track record to back this assertion.

I'd be willing to be civil if someone could offer a decent rebuttal.

You don't get crypto.

LOL I agree

he seems to be clueless.  I tried to tell him you can't regulate it, you can try, but people are gonna do whatever they want in the privacy of their own home.

With crypto you can't regulate the end user, just the exchanges, but there will always be an exchange not regulated by US regulations, because crypto is worldwide.  You can't stop it, you can only slow it down, and not much from the rate of adoption, coin base added over a million wallets just last year.

How do you regulate digital property? Even if you regulate one another will pop up.  Spending too much time worrying about things like this is a waste, as we can see, crypto does what it wants, because its open source.

I remember months ago I posted something about BTC on FB and one of my friends goes "the owner of BTC just got arrested, they are gonna shut it down"

I didn't want to embarrass him but I wanted to call him an idiot.  There is no shutting down of the bitcoin or any other crypto, if you haven't notice already, regulation or no regulation, it has a mind of its own.

Tip my hat to you Sir, great end lines.

[hardcoreprime]

I believe there is a misunderstanding as to what the NSF actually is. It's not a means to regulation (as above me stated that's simply not possible), it is a means to help enforce acceptance. It's also been pointed out a 1% premine is by no means the amount necessary to ENFORCE any price (only slow down movement a little).

While the few businesses accepting bitcoin right now are pointing out what they DO transact in bitcoin is making them money, it's still a very high risk, because bitcoin within the 8-12 (even 14) hour work day can fluctuate in value so much so that there is a margin for error of projected losses for accepting bitcoin (seriously this will become a market standard term if it remains in current state).

The idea behind the NSF can be equated to this;
A small business owner keeps cash in safe until the end of the day.

At the end of the day he takes his cash (presumably with a bag with a $ symbol on it, because that's the only thing that makes sense) to the bank. Between receiving that cash, and taking it to the bank, the small business owner knows that each dollar will remain it's value.

The current state of crypto (and bitcoin) is like having that cash sack expand and decrease constantly, for a SMALL business owner that is potentially too high a risk. It'd be like once in a while he decides to put his money into a sack with a hole in it (bag holders, right?).

The NSF idea is to help the small businesses (by the end of each day), know that they're going to receive the financial compensation for their work as was agreed upon.

Here's where legal matters come in. Many businesses who accept crypto currencies do so under the stipulation that the transaction is representative of the fiat currency represented by the crypto. This means that often your legal transaction under bitcoin unless IMMEDIATELY transacted to the fiat representation, may end up with you paying less (great for you), but you used a card and signed a receipt, you're now under legal obligation to provide that difference otherwise you're stealing. This is crypto in it's CURRENT state, now we all hope to see it become a standard of trade and we'd love to see it just replace fiat, and while we all clamor for that future it's a bit of a way's off. NAUT's NSF is attempting to help those small businesses avoid that loss the big businesses can take the hit if it happens because they're already major huge businesses. But the little guy... no.

Oh, and on the comment made towards me on the 'we want less coins prior to proof of stake', I was only referencing one of the most basic laws of economics; supply and demand.

But here's the big benefit to NAUT, BK is not afraid to change the coin dependent on the climate; many people don't like Bryce (I personally have no opinion one way or the other as I have not had much interactions), but I'm sure Blocktech employees are plenty competent on getting their work done. I would also point out; you make enemies when you make money, especially in something like this, because SOMEONE is going to lose.

I still am buying NAUT (and loving these prices right now), but would love to see it go up.

@hcp are you still accepting NAUT donations for the Facebook campaign but matching fiat value?
You said you were keeping NAUT I just want to be sure how you're handling it before I push the donation address.
Example: I send you $20 worth of NAUT, and you match that out of pocket, leaving the NAUT in the wallet? (If so I'll update this post with it)

Don't forget to vote
http://www.btc38.com/trade/vote_for_trade.html
https://bter.com/voting
https://hitbtc.com/vote
https://www.swaphole.com/#!voting
http://www.betbycoin.com/coinvotes/

To Do:
Release Proof of Stake Wallet - Being Worked on by Blocktech
Mobile Wallet App - (Doesn't NEED to stake, but would be nice).
Multipool
Official block explorer - The NautInsight one is nice, but it's not marked as official (it wouldn't hurt to have that block explorer moved to the nautiluscoin domain)
Video(s) - Make Nautiluscoin promo videos!
Website update - Front page update
Come up with more plans to get naut into the hands of more people and more in the public eye

 - Nautiluscoin Community Manager
 - - Note that much of my posts are my own observations and opinions and not necessarily representative of Nautiluscoin itself.

-----
I will not be accepting any more donations at this time   - HCP

[nutildah]

How is America going to regulate crypto worldwide? Even the Chinese government can't stop it being used for it's intended purpose, their regulations actually pushed bankers out of bitcoin because they're the only ones that had to follow them.

Will they be shutting down the internet or confiscating every single wallet? Look at bit-torrent, still going strong after all these years.

Look, if America regulates crypto, it will only be a matter of time before other federal governments attempt to do so as well.

Face the facts: your hero Brian Kelly is trying to regulate crypto. He may be able to succeed in America but he will not succeed on a worldwide level -- that is a given.

I stand by everything I said in the past. There is nothing contradictory about the nature of what I said. I am 100% confident the U.S. government will attempt to further regulate cryptocurrency in the future on behalf of Wall Street and there will be a pushback movement against this, as is already happening.

[nutildah]

And for everyone trying to conflate my argument with wanting to "shut down crypto," you're missing the point entirely, and on purpose, and there's nothing I can do to get you to see the point.

[whatdidshedo]

How is America going to regulate crypto worldwide? Even the Chinese government can't stop it being used for it's intended purpose, their regulations actually pushed bankers out of bitcoin because they're the only ones that had to follow them.

Will they be shutting down the internet or confiscating every single wallet? Look at bit-torrent, still going strong after all these years.

Look, if America regulates crypto, it will only be a matter of time before other federal governments attempt to do so as well.

Face the facts: your hero Brian Kelly is trying to regulate crypto. He may be able to succeed in America but he will not succeed on a worldwide level -- that is a given.

I stand by everything I said in the past. There is nothing contradictory about the nature of what I said. I am 100% confident the U.S. government will attempt to further regulate cryptocurrency in the future on behalf of Wall Street and there will be a pushback movement against this, as is already happening.

ok you made your point , we all heard your views many times but obviously nobody is interested in engaging in the convo about it here, why not start a thread and a discussion with like minded people post a link here and invite people who want to participate, instead you are just repeating same thing to same 5 people that are active in this thread, you are wasting time if you believe cypto is in danger start an awareness campaign instead trying to get a rise out of 5 people here who are obviously not that interested. i wish you nothing but the best in your efforts .

[nutildah]

How is America going to regulate crypto worldwide? Even the Chinese government can't stop it being used for it's intended purpose, their regulations actually pushed bankers out of bitcoin because they're the only ones that had to follow them.

Will they be shutting down the internet or confiscating every single wallet? Look at bit-torrent, still going strong after all these years.

Look, if America regulates crypto, it will only be a matter of time before other federal governments attempt to do so as well.

Face the facts: your hero Brian Kelly is trying to regulate crypto. He may be able to succeed in America but he will not succeed on a worldwide level -- that is a given.

I stand by everything I said in the past. There is nothing contradictory about the nature of what I said. I am 100% confident the U.S. government will attempt to further regulate cryptocurrency in the future on behalf of Wall Street and there will be a pushback movement against this, as is already happening.

ok you made your point , we all heard your views many times but obviously nobody is interested in engaging in the convo about it here, why not start a thread and a discussion with like minded people post a link here and invite people who want to participate, instead you are just repeating same thing to same 5 people that are active in this thread, you are wasting time if you believe cypto is in danger start an awareness campaign instead trying to get a rise out of 5 people here who are obviously not that interested. i wish you nothing but the best in your efforts .

Because I am trying to get other people to think twice before they invest in a coin started by a man who wants to regulate the usefulness out of cryptocurrency. But you're right, I will start my own thread.

[BTCrawl]

I think it's a good idea to re-post this part of BKs last post to outweigh some of the misinformation:
"Regulation - Whether we like it or not regulation is coming.  I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality.  Therefore, I think it is better to be involved in regulation so that we can shape how it is formed."

[FlyingMongoose]

I think it's a good idea to re-post this part of BKs last post to outweigh some of the misinformation:
"Regulation - Whether we like it or not regulation is coming.  I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality.  Therefore, I think it is better to be involved in regulation so that we can shape how it is formed."

Thanks BTCrawl, allow me to break it down and translate it;
"Whether we like it or not regulation is coming." - He is accepting the inevitable attempt at regulation by governing bodies.
"I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality." - Here he is pointing out he dislikes regulation as much as the next guy, and would have no interest on enforcing regulation, however, it is an inevitability, so he will have to accept it when it comes.
"Therefore, I think it is better to be involved in regulation so that we can shape how it is formed." - Allow the crypto community to write the policies on that regulation, instead of the governing bodies.

I hope my translations make sense to people, because it's really not possible to get any clearer than that, though I can dumb it it down; "Crypto good, regulation bad, but will happen anyway, might as well work with it."

[BK_PHI]

I think it's a good idea to re-post this part of BKs last post to outweigh some of the misinformation:
"Regulation - Whether we like it or not regulation is coming.  I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality.  Therefore, I think it is better to be involved in regulation so that we can shape how it is formed."

Thanks BTCrawl, allow me to break it down and translate it;
"Whether we like it or not regulation is coming." - He is accepting the inevitable attempt at regulation by governing bodies.
"I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality." - Here he is pointing out he dislikes regulation as much as the next guy, and would have no interest on enforcing regulation, however, it is an inevitability, so he will have to accept it when it comes.
"Therefore, I think it is better to be involved in regulation so that we can shape how it is formed." - Allow the crypto community to write the policies on that regulation, instead of the governing bodies.

I hope my translations make sense to people, because it's really not possible to get any clearer than that, though I can dumb it it down; "Crypto good, regulation bad, but will happen anyway, might as well work with it."

Exactly!

[BTCrawl]

I think it's a good idea to re-post this part of BKs last post to outweigh some of the misinformation:
"Regulation - Whether we like it or not regulation is coming.  I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality.  Therefore, I think it is better to be involved in regulation so that we can shape how it is formed."

Thanks BTCrawl, allow me to break it down and translate it;
"Whether we like it or not regulation is coming." - He is accepting the inevitable attempt at regulation by governing bodies.
"I am a free market capitalist at heart and therefore believe in as little regulation as possible...but I also understand that I must work within the constraints of reality." - Here he is pointing out he dislikes regulation as much as the next guy, and would have no interest on enforcing regulation, however, it is an inevitability, so he will have to accept it when it comes.
"Therefore, I think it is better to be involved in regulation so that we can shape how it is formed." - Allow the crypto community to write the policies on that regulation, instead of the governing bodies.

I hope my translations make sense to people, because it's really not possible to get any clearer than that, though I can dumb it it down; "Crypto good, regulation bad, but will happen anyway, might as well work with it."

Thanks, makes perfect sense to me too. If the crypto community refuses to take part in any talks regarding regulation, people with more self-serving interests will just say "Thank you very much!" and write them in a way that fits their agenda. I think BKs idea of being proactive and trying to influence regulation in a positive direction will be great for crypto overall.

As I think I posted earlier it will make non-techies feel a lot safer about trying out Bitcoin (and other digital currencies), but you'll still have your Cloakcoin, your Darkcoin etc, that's intended for a different purpose than what coins like Nautiluscoin are. We'll hopefully see less scams and shitcoins though, but I think everyone can agree that that's a good thing

[BTCrawl]

By the way, BK - do you feel comfortable sharing the timetable that Blocktech has given you (if they have!) on the latest updates? I know you said you don't want to give specific dates, but would be fun to hear how things are progressing