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Topic: [ANN][IPO] Numus (Pow/Pos - Scrypt-Jane) | Decentralized Exchange |Cloud Storage - page 12. (Read 19918 times)

newbie
Activity: 16
Merit: 0
I finally registered an account just so I could respond to this post.

While you are getting some flack in this thread, you have made some very good points about how cryptocurrencies and the general public and clearly have ideas in place on how to improve adoption.

I agree with your thoughts there very much.

However, here is the reason I registered to make this post. Integrating a lottery system into the currency? I don't know if you could do anything DUMBER if you goal is widespread adoption.

a.) It sends the message the currency is shady, that people use it to gamble, etc. Because, for god sake it's integrated right into the wallet itself, it is a fundamental aspect of it! Even worse, it is the 1st goal after the client is complete! Instead of working on things that actually would be beneficial, the cloud storage, and decentralized exchange.

b.) Even more importantly, lotteries are regulated by the government. This coin, in its very nature is illegal. That is going to scare the hell out of developers and VCs, the people you most desperately need for this to succeed.


Our original goal for the lottery system was to allow people to get a chance to win a jackpot. We believed that this would promote enthusiasm in the community if users could stand a chance to win a large sum of cash only by buying a ticket worth a small amount of NMS. We never intented it to promote Numus as a sort of "gambling currency"

I would drop the gambling aspect and put the resources into innovation of your cryptocurrency. Its one of the major things putting me off investing in the IPO.
newbie
Activity: 55
Merit: 0
We have updated our Proof of Work Specifications and our Whitepaper.
newbie
Activity: 55
Merit: 0
We are currently in talks with Anon136 over escrow for the IPO.
member
Activity: 70
Merit: 10
Good to see 5 Investors already
member
Activity: 70
Merit: 10
o info about how fast the block reward decreases. (in time)
No formula for block reward.
No way to know the effective size of the premine. (how long does it take to catch up for the miners.
I'm pretty sure this is the same as in Peercoin.
newbie
Activity: 55
Merit: 0
I finally registered an account just so I could respond to this post.

While you are getting some flack in this thread, you have made some very good points about how cryptocurrencies and the general public and clearly have ideas in place on how to improve adoption.

I agree with your thoughts there very much.

However, here is the reason I registered to make this post. Integrating a lottery system into the currency? I don't know if you could do anything DUMBER if you goal is widespread adoption.

a.) It sends the message the currency is shady, that people use it to gamble, etc. Because, for god sake it's integrated right into the wallet itself, it is a fundamental aspect of it! Even worse, it is the 1st goal after the client is complete! Instead of working on things that actually would be beneficial, the cloud storage, and decentralized exchange.

b.) Even more importantly, lotteries are regulated by the government. This coin, in its very nature is illegal. That is going to scare the hell out of developers and VCs, the people you most desperately need for this to succeed.


Our original goal for the lottery system was to allow people to get a chance to win a jackpot. We believed that this would promote enthusiasm in the community if users could stand a chance to win a large sum of cash only by buying a ticket worth a small amount of NMS. We never intented it to promote Numus as a sort of "gambling currency"
newbie
Activity: 42
Merit: 0
I am very interested and I have to say I also feel that the built-in lottery should take a backseat to the decentralized exchange.

I've said it before in the EXO thread and I'll say it again here - the first crypto to successfully launch a built-in, anonymous, decentralized exchange is going to absolutely explode as it will eliminate the need for centralized, TOR-based web sites such as SR was. If Numus can pull this off, it will spawn a thousand SRs and its popularity will skyrocket.

I assume that since Numus will contain cloud storage, the exchange will allow for the asset creator to post some descriptive text and images regarding their asset? Please confirm.
full member
Activity: 238
Merit: 100
I finally registered an account just so I could respond to this post.

While you are getting some flack in this thread, you have made some very good points about how cryptocurrencies and the general public and clearly have ideas in place on how to improve adoption.

I agree with your thoughts there very much.

However, here is the reason I registered to make this post. Integrating a lottery system into the currency? I don't know if you could do anything DUMBER if you goal is widespread adoption.

a.) It sends the message the currency is shady, that people use it to gamble, etc. Because, for god sake it's integrated right into the wallet itself, it is a fundamental aspect of it! Even worse, it is the 1st goal after the client is complete! Instead of working on things that actually would be beneficial, the cloud storage, and decentralized exchange.

b.) Even more importantly, lotteries are regulated by the government. This coin, in its very nature is illegal. That is going to scare the hell out of developers and VCs, the people you most desperately need for this to succeed.


^
This.

Remove the IPO, remove the premine, remove the lottery, keep the marketing, add a technical innovation to the coin, enjoy the success and wide adoption.
newbie
Activity: 1
Merit: 0
I finally registered an account just so I could respond to this post.

While you are getting some flack in this thread, you have made some very good points about how cryptocurrencies and the general public and clearly have ideas in place on how to improve adoption.

I agree with your thoughts there very much.

However, here is the reason I registered to make this post. Integrating a lottery system into the currency? I don't know if you could do anything DUMBER if you goal is widespread adoption.

a.) It sends the message the currency is shady, that people use it to gamble, etc. Because, for god sake it's integrated right into the wallet itself, it is a fundamental aspect of it! Even worse, it is the 1st goal after the client is complete! Instead of working on things that actually would be beneficial, the cloud storage, and decentralized exchange.

b.) Even more importantly, lotteries are regulated by the government. This coin, in its very nature is illegal. That is going to scare the hell out of developers and VCs, the people you most desperately need for this to succeed.
sr. member
Activity: 490
Merit: 250
 info about how fast the block reward decreases. (in time)
No formula for block reward.
No way to know the effective size of the premine. (how long does it take to catch up for the miners.
and,so What about upcoming ASIC's, which have the potential to push Scrypt (possibly Scrypt-Jane) coins difficulty to the stratosphere, making Numus mining non-accessible (yet again) for everyone except the few industrial datorhalls?
full member
Activity: 154
Merit: 100
newbie
Activity: 58
Merit: 0
Time horizon is too long.
During the months, there will happen so many indefinite event.
So I think the investment is too risky.
But I am interested in the Cloud Storage.
During the months, there are so many coins come out , such as emu, nem, skycoin, nex, zerocoin....
I don't think this will alive....
newbie
Activity: 55
Merit: 0
Any chance of getting a Chinese translation on the whitepaper?
We are currently working on a Chinese translation both for this thread and the whitepaper.
member
Activity: 70
Merit: 10
Any chance of getting a Chinese translation on the whitepaper?
member
Activity: 67
Merit: 10
Too small percentage per annum with PoS...
A very high percenctage would discourage users from actually using the currency.
member
Activity: 67
Merit: 10
I've read the whitepaper, but the only thing that really concerns me is regarding the Decentralized Exchange. Though I see no current flaws in it, there may be ways to sort of abuse it.

In the end I see one of three ways abuse would be attempted:

1) [John claims he did not receive $200 but actually did. John declines.]
John = +$200, -2.1 NMS
Jenny = -0.1 NMS

2) [Jenny claims to have sent $200, but actually did not. John declines.]
John = -2.1 NMS
Jenny = -0.1 NMS

3) [Jenny claims to have sent $200, but actually sent $100. John either accepts or declines.]
This is a mutual destruction scenario in which some interesting game theory may end up coming into play.

3a) John declines (mutual destruction)

John = +$100, -2.1 NMS
Jenny = -$100, -0.1 NMS

3b) John accepts (John realizes that either way he will lose 2 NMS but this will save him the collateral 0.1 NMS)
John = +$100, -2 NMS
Jenny = -$100, +2 NMS
John and Jenny don't have any prior knowledge of each other. When posting the trade order on the exchange only the traders Numus addresses are shown (banking details are transferred once the payment has been initiated) thus anonomity is ensured. The network automatically links to two open trade orders from Jenny and John, so they have no possible knowledge of each other besides their Numus address and thus no prior incentive to scam each other.
Okay thanks for the answer
member
Activity: 70
Merit: 10
Too small percentage per annum with PoS...
I think its mostly to keep the price stable over time so that price of Numus doesn't decrease as inflation increases.
sr. member
Activity: 483
Merit: 250
Too small percentage per annum with PoS...
legendary
Activity: 1106
Merit: 1000
Only 2.5% divided by stakeholders? Whats the point of investing, people will only get a tiny fraction of total coins if the IPO is even mildly popular. Pass for now...

I'm not saying the coin if legit doesn't look interesting but its a terrible opportunity for early investors, you got to increase the potential for those who are willing to risk capital otherwise why would they bother?
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