Topic: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield - page 307. (Read 901870 times)

I believe it was mentioned somewhere (in this thread) there are other staff who help in the utilization of the NSF.

That's actually a really good question.   

He should have his wife get into Altcoins lol

if i may ask, are you the only one with access to the premine ? is there a "backup" if something happens to you ?

stability in the price will come when theres more volume and higher market cap.
over 1 mil market cap and consistent volume of a couple of hundred btc every 24 hours should really smooth out the price.

maybe approach mcxnow.com for getting the coin on that exchange as it pays interest on all deposits of the different coins, its a super fast and secure exchange. the interest could help smooth out the NSF and there you could speak with ur investors in the troll box (if you dare hehe =) ) .

all in all volume and market cap are the key here imo

both need significant increases to be stable as right now people are afraid of getting into a illiquid market.

Thanks BK for keeping us updated its much appreciated keep up the good work.

I would be very interested to know what is the market cap at which you would like to see stable price for NAUT, because let's not fool ourselves, you cannot have a stable price from day one and volatility should have been expected until a certain market cap was reached.

I completely agree on the algo thoughts. Algo alone is not a real USP and people outside of crypto do not really care about asics resistance, scrypt-n, x11, x13, Blake and whatnot. The algo is having an effect on the price initially but it becomes a non-existent USP as soon as the coin goes out in the real world.

What people care about though and what would also reflect in the price are useful features such as sms wallets, ability to send semi-anonymous payments on demand, products/services that accept your coin as THE ONLY payment option, good PR and marketing etc. etc. I am sure NAUT can also follow some of the trends in crypto and not only rely on the basics.

Thanks for the updates BK, it inspires confidence in the rest of us.

Also just wanted to remind everyone about the economic theory behind the NAUT and NSF.

As mentioned in the ANN, the inspiration for the coin comes from Hayek's Denationalization of Money. He suggested that currencies should not be a government monopoly and should in fact be privately issued.  His conclusion was that private currencies would compete for acceptance and that both consumers and merchants would gravitate toward the most stable currencies.  Inflation hurts creditors and deflation hurts debtors. 

The goal of NAUT is to be that stable currency that people gravitate toward.  With the implementation of PoS the volatility should diminish since we are currently fighting an uphill battle against auto-sells by miners.  These auto-sells do provide some nice arb opportunities, but frankly the real money is to be made as the coin gains acceptance.

As well, my goal is for NAUT to be the investment of choice for institutional investors looking to enter the digital currency asset class.  However, 2015 is the more likely time frame for wider scale institutional investment. (Of course, the digital currency world changes MUCH more rapidly than elsewhere)

In order to become the investment of choice, we (I) need to give institutions a reason to buy NAUT.  Simply saying that digital currencies are going to take over the world is not enough to attract real investors.  Having the latest algo is one way to attract investors, but that is a treadmill which we are not willing to jump on, if your competitive advantage is having the latest algo then you must constantly be updating the code.  This is a perfectly legitimate business plan, just not the plan for NAUT.

Once we establish the ability for merchants to EASILY accept NAUT then my company BKCM LLC will take the currency risk of converting to fiat.  I consider this the very early stages of building out the NAUT economy.  The next stage is to build an infrastructure and ecosystem that is attractive to outside investors. This will include financial and investment services.

All these things take time and that it why NAUT is a long term project for me.  The NSF has provided some stability but NAUT is MUCH more volatile than I would have liked.  Announcing the NSF bids appears to have had the largest impact over the last 24hrs...if that continues to be the case then I will continue to be transparent.  The primary reason I did not initially disclose the NSF orders was because I did not want the NSF to be gamed. This is more art than science.

-BK

awww but my orders are at 8300

NSF Update

Haven't been able to buy much at 8300-8400 over the last 24hrs...NSF bids are now moved up to 8500.


-BK

I was talking especially about team behind the coin, that's a start, the more accurate i had, ty
It seems there is still a little speculation about the team, but i give up


I thought about something, is china know about nautiluscoin ?

yup im still here and still buying more coin, I now have more than any other coin I have ever held.

Calm Down OWL

i've been buying like crazy below 10K !    GOGOGOOO #TEAM NAUTILUS!!!! WEEEEEEEEEEEEEEEEE

For those interested, this got buried earlier.

These questions?


Because they have been answered to the best ability possible:
1: The coin was initially a coingen, but it was actually completely rebuilt from the ground up by digibyte team.
Proof of this is someone mined the coingen coin in april, and those coins that were mined can not be transferred to this coin (that was released on May 1). His post of attempting to transfer was done early in this thread.
There are other staffers that BK has that work on the coin as well I'm sure. But I'm sure not all staff are forum members, and I'm sure they keep tabs. (You can read these forums without registering after all). And total number of staff is hard to say.

2: The initial proof of stake method BK wanted was too complex to implement, so now it's being implemented simpler. Once he has more info he'll post it.

Good news, but my questions have been ignored, so i guess, those things are not supposed to be public...

Really good news. As for the PoS, there is really no need to reinvent the wheel and updates can still be done later. The most important think is to reduce the current supply from mining asap since it's killing the price and with more and more coins coming each day NAUT should really not be content sitting at the bottom of the food-chain and should rather take the lead.

There you go....comunication and that on a lazy monday