Topic: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield - page 213. (Read 901828 times)

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).

"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"


 


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.

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

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)

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

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)

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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.

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.

>>> /r/bitcoin   

Hi Vlad,

Thanks for the affirmation. I knew I couldn't be alone in thinking this way.

However, I can't consciously support anything that I find to be ethically disturbing. For example I know if I buy any of these coins that I am against, I will basically be helping the downfall of crypto, no matter what tiny fraction of the problem I am actually contributing.

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.

You just summed up my riddle thread.

But trust me, nobody in the crypto universe wants to hear what you're saying so it will go ignored [until it's too late] and you'll be called crazy and insane for your views.

That said, join the madness and try to make some decent money before it's too late.

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.

I agree, I've never said anything about Blocktech since I don't know much about who runs it.

But I do know Bryce pretty well and besides the scammy stuff people have brought up here which I can also testify to, I know for a fact Bryce had serious issues with simple things like compiling a simple wallet just ~6 months ago.

He is at best an amateur hobbyist programmer and at worst, a total hack who knows little to nothing about software and coding, and absolutely not the caliber type who would innovate some ground breaking Dynamic PoS system worthy of praise.

That said, I have a lot of faith in Bryan Kelly and his reputation so I think NAUT will go much higher from here.

Cheers!

They have a great team. Again, some people don't like Bryce, but I've never heard anyone say anything negative about the knowledge of Blocktech. Especially their CEO, Devon Read, who is a former soldier and Apple employee, has a very good reputation. I don't think it's really fair to criticize a company because one doesn't like the personality of one of its employees. It's really mixing apples and oranges to say the least.

I imagine Blocktech has some serious programmers.

If not, if Bryce is their "programmer" then Naut is in for a massive failure.

I'm still stunned that Bryan Kelly got involved with Bryce.  I just don't get that.  If I had Bryan's resources I would find real talent with real programming experience and zero scam history.

Really blows me away but hey, it's Bryan's coin, he can do whatever he likes.

Yea, name 1 success story from scam-tech.

While hes saying all this hes probably sitting there with his coffee and smoking a cigarette. "Drugs" are technology and like it or not they have benefited mankind more than you will ever realise due to ur ignorant and negative nature.

Id say crypto is more addictive (for some people) than alot of drugs out there and has the effect similar to psychedelics in the way that it opens you up to new ways of thought not possible before coming into to contact with such things.

lets not argue people and if someone has an opinion you dont agree with there is no need to use this thread as a place to justify your argument by being negative towards other ASTRONAUTS. Remember why you post in this thread is because you believe in nautilus coin and want to contribute to its success by talking about better ways to do finance than traditional fractional reserve banking bullshit thats put most countries in debt, created economic apartheid and gate keeping wealth centralisation.

Stay positive ppl we have a lot to look forward to with crypto in general and nautilus coin just got soo much better with BK getting block tech to execute his idea this is very exciting.





   

Why are you here?

Better than trolling altcoin threads for kicks.

https://www.youtube.com/watch?v=QkaJzNwQUTM

Oh how nice to see.. now 2 people promoting drug use on this thread. Fantastic.