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Topic: [ANN][NOS] Nostrum - New Source Code - Reserve Value - now with ESCROW - page 5. (Read 12431 times)

full member
Activity: 164
Merit: 100
Honestly it looks and sounds like really nice ideas and features, but the distribution "feature" of buying coins directly from you (non-escrowed) is scary.
sr. member
Activity: 351
Merit: 250
Seems innovative !

I got some questions listed below :
Which is the total coin supply ?
Is it POS only with 100% of the coin supply generated on a genesis block (similar to nxt) or new coins are generated each block (similar to Peercoin) ?
Is there an interest rate for the POS ? If yes then which is the interest rates exactly ? Are they known ?
Is the a transaction fee ?
One last question regarding the services that seems to be on top of Nostrum.Are there gonna be fees ? If yes, those fees will be distributed to
forgers as interest rate ?

Thanks
newbie
Activity: 15
Merit: 0
How long will the ICO run for ?
sr. member
Activity: 294
Merit: 250
Is there Escrow?
You will receive Nos immediately after payment so there is no need to use escrow at this state.
legendary
Activity: 1098
Merit: 1000
Angel investor.
I read your post history, there is nothing except asking for giveaway, can you explain it?
legendary
Activity: 1098
Merit: 1000
Angel investor.
sr. member
Activity: 448
Merit: 250
How long until all of the features are implemented?
legendary
Activity: 1260
Merit: 1000
sr. member
Activity: 294
Merit: 250
So how do we get in?  Don't see any IPO info, or is the distribution done already?
You can join by using the beta ICO tab inside the wallet.

Really don't want to have to install a wallet just find out about the IPO and costs!  Can you just post this information in the OP for all to see?!
Updated the FAQ section for your request
legendary
Activity: 1260
Merit: 1000
So how do we get in?  Don't see any IPO info, or is the distribution done already?
You can join by using the beta ICO tab inside the wallet.

Really don't want to have to install a wallet just find out about the IPO and costs!  Can you just post this information in the OP for all to see?!
legendary
Activity: 1148
Merit: 1000
sr. member
Activity: 294
Merit: 250
How is taking away someone's ability to sell a prominent feature in your coin?
Maybe I don't understand.. You are essentially locking people into a coin whether they want to be in it or not?

Say someone bought at 10k and then someone dumped coins they bought at ico price.. Now that person who bought at 10k is stuck and cant sell unless someone buys up to 11k... which would allow the 10k buyer to sell a whopping 10%?

I can see why this thread is moderated..
You missed one point. In order for the price to drop below the ico price. All of the ico stakeholders must dump all of their coins. So, in your case, the price only drop below ico price if both who whole 10k NOS dump their coins.
The reserve value is meant to give Nostrum a value, not to lock people's ability to sell. They are free to do anything they like with their coins through a third-party, but their coins' value is guaranteed.
member
Activity: 73
Merit: 10
How is taking away someone's ability to sell a prominent feature in your coin?
Maybe I don't understand.. You are essentially locking people into a coin whether they want to be in it or not?

Say someone bought at 10k and then someone dumped coins they bought at ico price.. Now that person who bought at 10k is stuck and cant sell unless someone buys up to 11k... which would allow the 10k buyer to sell a whopping 10%?

I can see why this thread is moderated..

+1
legendary
Activity: 1050
Merit: 1000
How is taking away someone's ability to sell a prominent feature in your coin?
Maybe I don't understand.. You are essentially locking people into a coin whether they want to be in it or not?

Say someone bought at 10k and then someone dumped coins they bought at ico price.. Now that person who bought at 10k is stuck and cant sell unless someone buys up to 11k... which would allow the 10k buyer to sell a whopping 10%?

I can see why this thread is moderated..
sr. member
Activity: 294
Merit: 250
So how do we get in?  Don't see any IPO info, or is the distribution done already?
You can join by using the beta ICO tab inside the wallet.
legendary
Activity: 1260
Merit: 1000
So how do we get in?  Don't see any IPO info, or is the distribution done already?
sr. member
Activity: 294
Merit: 250
Questions:

a. Why close the last thread?
b. how do you make sure the profit NoS cant be exchanged for money? Are you going to pass in the exchange feeds to the wallet and control the amount which can be taken out? Or you are not gong to let it be listed on exchanges?
c. If the price is falling, which can also happen due to people loosing interest in the coin, what is your backup plan?
a. People start spreading FUD without even read through the whole announcement. We decided that a moderated thread is needed to focus only on serious discusions (like yours).
b. The profit Nos can be exchanged for anything (goods, services, money, etc..) to a third-party if they like. But they can't be sold into the reserve bank. We will use the digital signature to ensure that an address can only sell within their tradable Nos amount to the reserve bank. Meaning: NOS which are transacted into another NOS address can't be sold.
c. Can you clarify what do you mean by "which can also happen due to people loosing interest in the coin" ?

Edited:
For you 4th question: The total number of NOS depends on the amount of NOS sold during the Beta ICO.
And the last question: I recommend you thread through the Reserve Value section again. We won't need to recover to the ICO price because it is already the floor price thanks to the Reserve Value formula
sr. member
Activity: 378
Merit: 250
Time is Money - Benjamin Franklin
Questions:

a. Why close the last thread?
b. how do you make sure the profit NoS cant be exchanged for money? Are you going to pass in the exchange feeds to the wallet and control the amount which can be taken out? Or you are not gong to let it be listed on exchanges?
c. If the price is falling, which can also happen due to people loosing interest in the coin, what is your backup plan?
d. What is the target total number of coins?

What is with the ICO? 500 satoshi starting based on what exactly? Syscoin sold for 500 satoshis and still struggling to recover ICO prices.
legendary
Activity: 1484
Merit: 1000
sr. member
Activity: 294
Merit: 250
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