Topic: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield - page 338. (Read 901829 times)

I am more than happy to update the community on what we are doing, but I will stop posting if all I get is negative responses. I have much better things to do with my time.

The "stabalization fund" was created by premining NAUT.  So it is denominated in NAUT.  So how are you using it to buy NAUT?

Welcome to the world of Crypto

No, actually it's crystal clear if you have the slightest clue how all this works.

FYI we have been buying as much as we can, but clearly we are seeing the limitations of only a 1% pre-mine.  If BTC continues to rise AND miners sell indiscriminately the NSF can only do so much. 

What is fascinating to me is that the NSF will buy at any price, so why a miner would sell at these prices is unclear.

FYI - I have also bought more NAUT last evening as high as 34k for my personal account.

-BK

I'm hiding them in my basement... LOL

I did warn that this will happen:



NAUT price high > 113300
NAUT low < 20000

difference > 500%

So stable indeed... - compared to Blackcoin. 

And so you are doubting that they exist?

Again, you have no idea what you are talking about.

Yes, the difficulty may increase.  But Digishield will retarget to maintain the approximate block time.  Higher difficulty does NOT mean longer average block times, as long as it grows in proportion to the network hashing rate.

It might get stretched out a bit, but nothing significant.  This coin WILL be mined out in less than 3 months.

If you don't understand why, try actually learning about this stuff instead of jabbering on and making yourself look like a fool.

ok so where did they 2 million coins go?  I have yet to see them

Do people seriously not read the announcements?  It's right there, spelled out:

159.39 coins per block
1440 blocks per day

That's 229,521.6 coins PER DAY

3,213,302.4 coins in 2 weeks.

so the difficulty will not increase is what your trying to imply?

You know all these same bullshit rumors and theories have also been done on BTC right?

Ive seen it all.

No.. it won't go up because the author is probably a scammer.

There is a no stabilization fund. There is no growth at all.

Guy says were in a "deep liquid market", one day later we go from 30 to 20

Pretty much,
This is a just a coin for miners to dump on investors

I know some people won't care or maybe some will but here's my story.
The story of a dead whale, and why probably other whales will never have interest in this coin.

I had 31BTC...and I was desperate and greedy to get in on the next pump.
That's maybe $10,000 lost, in just a few days.

I knew there was a 1% premine, that's about 160,000 coins but I somehow mistaken it for 1,600,000 at the time.
Regardless... over 2millions coins out of the maximum 16m~ were already mined once it hit mintpal..

I initially bought half at 75-80, thinking this "coin" actually had a bottom.

Did a little pump to 85, with minor success then support fell...

I had fun overcutting whoever was trying to buy coins at 75-80

Also there was that guy spelling 1337 with orders 

You know, I really thought we were all ready to take this to the moon and steal DRK's volume...

That's where I probably made the biggest mistake of my life;
I stacked a 20000NAUT~ Buy wall at 75 on top of someone else's order, thinking it was impossible that anyone would have even have that much coins.

I was ready to pump, but no one else was...
Then someone had to go and dump 40000 NAUT dropping the price to 70
I should've sold then, and just cut my losses, but like some people here I really did think this was going to be that next moon coin. Regardless, If I had dumped then I would've prob dumped the price to at least 50 with a 25% loss. There was a huge buy at 40, which I thought was the "Stabilization fund", turns out it was probably just some fake wall.

But seriously, when and where was there any "Stabilization" on this coin and
How the hell did 2million (About 15%) of the coins get mined in just 1-2 weeks? While Naut coin cap has only grown from 2.2m to 2.4m since it hit mintpal. Difficulty retargeting, where? Was the coin just that purposely broken or is BK just a complete screw up?

Now this is where it gets emotional and where I beg you for coins.
I've never had a job before..I'm in my mid 20's..Trading was the only thing I really ever enjoyed doing until...Nautilus
People said it would go up, I waited, and wanted to wake up the next day at 100+.
I was ready to get a nice picture of a Nautilus to frame on my wall somewhere, but that day never came and probably never will.
Most of this money was from selling CoinTerra miners
Which I got the money to buy from selling a KnC Jupiter and Mercury
Really though, I got all my initial capital from selling currency in a MMORPG called FFXIV, which was in a pretty big bubble at the time (I made over $5000..from a video game)
I might be an idiot for investing in an altcoin, but that greed was out of desperation to help my family out.
We wouldn't be living in this house next month, if I didn't have 5k tucked away from trading.
Also I had no choice but to dump 40000 NAUT today because I also have to pay for my Dad's car (Who is being pretty much laid off until retirement gets processed)
and Alpha-T just sent out emails today asking for remaining deposits on preorders..(I don't think NAUT will go up much within 2 weeks)

I'm sure a lot of you miners made tons of mad profit from this anyways so..
If you have any pity for me and would care to give back some of the 50-100% profit I probably gave you
BTC: 1CNc6MpYA9oUVJGmfxe8zQB6uHfQG3KPSp

In the meanwhile, I'll be finding ways to slave my self to the US Dollar, Thanks Mr BK!

Also if anyone is interest in that Viper 18MH/s Scrypt miner I mentioned earlier
www.ebay.com/itm/281344438668

Hey Maybe we should go buy this coin bwahahahaha

Wow much coin trader, very crypto

Do the math:

Nautiluscoin Specifications:

* Scrypt
* 159.39 coins per block
* 1 minute block target
* 16,180,000 total coins
* 1% reduction every week
* DigiShield difficulty retargeting
* 1% premine


16,180,000 total coins/159.39 coins per block = 101,512 total blocks

At 1 block per minute, that's 1440 blocks per day.

101,512 total blocks/1440 blocks per day = 70.49 days to mine all blocks. 

It'll actually be a bit longer because of the 1% reduction per week, but not much.

I understand crypto currencies very well, i never traded a thing in my life until I traded crypto...... sooo.

So now you can explain to me why all the blocks are going to mined?

You don't get it.

I'm not talking about the block explorer.  That's irrelevant.

I'm talking about the fact that in 2 months, there will be no block reward.  Why would anyone keep mining?  Very few will.  Which will leave the coin completely vulnerable to attacks, double spends, etc.  No one who has a clue about how cryptocurrency works would ever invest money in a coin that doesn't at least have minimal protection of the blockchain.

It astounds me how many "traders" don't get this.  This is not forex or penny stocks.  There are many other factors at play here, and if you don't understand them you will lose massive amounts of money.

But who needs a secure blockchain when you've got a "stabalization fund" right?

Oh shut up, its just the website to show the chain, nothing wrong with the chain at all.

Your #Naut gettting mah coin homie

"Investing" in a coin that has no plans to secure its blockchain is like investing in gold and then leaving it lying in your front yard.

By the way, a simple announcement from the dev saying the coin will transition to POS (or merge mining, or whatever) would address this concern.

But it seems that he has far more important things to do than worry about securing the investments people have made in his coin.

So many people invest money without even understanding the basics of given coin economics.

I will give you a tip. This coin has huge inflation. This will not change for the next 2 months.
What do you think happens with the newly mined coins? Miners hoard them?

Another bad news. After 2 months this coin will need a hard fork to change to PoS. DigiByte team will not help this time like they did with multipools.
I am cautious with the developers capabilities since the block explorer is still down and nobody cares.

No idea about the stability fund but one thing I'm sure of. This wall street dude will not spend his own money.

The good news is this coin will get lots of spotlight and some whales might be accumulating to pump it in the future.