Topic: [ANN][NOS] Nostrum - New Source Code - Reserve Value - now with ESCROW - page 6. (Read 12431 times)
August 28, 2014, 02:31:53 PM
Nice. cant wait!
August 28, 2014, 02:31:46 PM
Reserved for FAQ
1. How to join Nostrum distribution in 4 steps:
2. How many Nostrum will exist?
The total amount of Nostrum depends on the result of ICO Beta state. Every coin that is not sold in the Beta ICO will be destroyed. A temporary block explorer will be set up so you can track the distribution process.
3. When will ICO ends?
It will end when these services are up and running:
1. The Reserve Bank.
2. The Nosjob service.
3. The Nosstore.
Which takes approximately 3 months.
1. How to join Nostrum distribution in 4 steps:
2. How many Nostrum will exist?
The total amount of Nostrum depends on the result of ICO Beta state. Every coin that is not sold in the Beta ICO will be destroyed. A temporary block explorer will be set up so you can track the distribution process.
3. When will ICO ends?
It will end when these services are up and running:
1. The Reserve Bank.
2. The Nosjob service.
3. The Nosstore.
Which takes approximately 3 months.
August 28, 2014, 02:30:28 PM
About Nostrum
Reward type: Proof-of-Stake
Block time: 1 to 3 minutes per block
Confirmations: 4
A currency only has value if it is widely accepted as payment for goods and services. Nostrum, with the help of "Reserve Value" formula and a bunch of Nos-related services (Nos-Store, Nos-Job, Nos-Ex, Nos-Bet), is able to achieve this.
Participate in Nostrum ICO:
There are 2 ways to join the ICO. Through the ICO feature inside wallet or through an escrow service.
1. Use the in-wallet ICO feature, you will receive NOS immediately after payment. Go here for instructions: https://bitcointalksearch.org/topic/m.8574661
2. Participate through an escrow service provided by SebastianJu, you will receive NOS after all the Nos-services and Reserve Bank are implemented (which take approximately 3 months). Escrow details:
I see i was already mentioned in the the thread so i will post now the details about my involvement as escrow.
My service as escrow can only give security for the time beneath paying your bitcoins into the escrow address and receiving the ICO Coins. I created a single bitcoin address where interested users can pay their bitcoins in. PLEASE make sure that you only send coins from an address you control and you are able to create a signed message with. You will need that to prove you payment later with CounterStrike.
The escrow address is:
The workflow so far will be:
* Sending coins to the bitcoin escrow address. ONLY from an address you control and you can sign a message with.
* Once CounterStrike solved all points needed to start you will need to verify your payment as yours.
* I need to be implemented in the personal messages. So that i get the signed message and can connect the BCT-Username to the sending bitcoin address.
* In order to know that the user received the ICO coins i need a confirmation that the buyer got the ICO coins so that i can release his btc to CounterStrike. Alternatively, if it will work that way, the buyer gives me (and CounterStrike) the info about to which address send the ICO-Coins to. So that i could check if the coins reached the ICO-Coin-Address. Though this second way is only an alternative in case it will work that way.
* Once i got the confirmation that the ICO-Coins reached, i will forward the Bitcoins and my service ends for the single user.
* I will ask CounterStrike for his ID, i didnt ask yet so i dont have it yet. I will update this post once i received the ID or once he denied to give me his ID.
If youre fine with the security level this will give you then you can start sending Bitcoins to the escrow address.
Nostrum Unique FeaturesMy service as escrow can only give security for the time beneath paying your bitcoins into the escrow address and receiving the ICO Coins. I created a single bitcoin address where interested users can pay their bitcoins in. PLEASE make sure that you only send coins from an address you control and you are able to create a signed message with. You will need that to prove you payment later with CounterStrike.
The escrow address is:
Code:
14RXbJ9fU8QDDxtCYX44Eh7Cw9KwWCamZe
The workflow so far will be:
* Sending coins to the bitcoin escrow address. ONLY from an address you control and you can sign a message with.
* Once CounterStrike solved all points needed to start you will need to verify your payment as yours.
* I need to be implemented in the personal messages. So that i get the signed message and can connect the BCT-Username to the sending bitcoin address.
* In order to know that the user received the ICO coins i need a confirmation that the buyer got the ICO coins so that i can release his btc to CounterStrike. Alternatively, if it will work that way, the buyer gives me (and CounterStrike) the info about to which address send the ICO-Coins to. So that i could check if the coins reached the ICO-Coin-Address. Though this second way is only an alternative in case it will work that way.
* Once i got the confirmation that the ICO-Coins reached, i will forward the Bitcoins and my service ends for the single user.
* I will ask CounterStrike for his ID, i didnt ask yet so i dont have it yet. I will update this post once i received the ID or once he denied to give me his ID.
If youre fine with the security level this will give you then you can start sending Bitcoins to the escrow address.
- Nostrum Reserve Value. (in-development)
- Network-wide chat system. (implemented)
- In-wallet coin distribution. (implemented)
- Mobile wallet for instant payment. (in-development)
- Anonymous transactions. (in-development)
- Nos-Store. (in-development)
- Nos-Job.(not yet started)
- Nos-Bet (through Tor network). (not yet started)
Reserve value
Each unit of Nostrum has it owns reserve value which is the value when the user obtained the Nostrum. The purpose of reserve value is to secure the concrete value of Nostrum, regardless the fluctuation of the price.
Calculation formula:
+ Reserve Value = Total Nostrum x Purchased Price
+ Tradable Nostrum = Total Nostrum / (Current Price / Purchased Price)
* If current price is lower than the purchase price, there will be no Nostrum can be sold
Tradable Nostrum is the quantity of Nostrum that can be traded.
+ Nostrum Reserve Value: 500,000 x 0.1 = 50,000 USD
+ Current Nostrum Value: 500,000 x 0.4 = 200,000 USD
+ Tradable Nostrum: 500,000 / (0.4/0.1) = 125,000 Nostrum
Coraline can now sell 125,000 Nostrum to recover her initial investment and still has 375,000 Nostrum to spend on whatever services she likes in the Nos-network. Remember, those 375,000 Nostrum can't be exchanged to cash, it can only be used as payment.
In case the price drop below Coraline's purchased price which is 0.1 USD. Coraline can't sell any of her Nostrum, this will prevent the price to fall any lower. But Coraline still can use her Nostrum as payment for the Nos-serverices
Thanks to the Reserve Value formula, the price of Nostrum is predictable and would look like this:
The
is the point where Nostrum hit its highest price and people start losing interest in it. Therefore, the price will start falling untill it hits the 
when nobody can sell anymore Nostrum. At this point, Nostrum can still be used as a payment method for services and goods, this will help Nostrum to gain interest, people start buying in and the price will rise higher until it hits another point and fall to another point, and so on...Nostrum Usage and Future Plans
Nostrum can be used widely in the Nostrum-network and local stores.
Nos-Store: An Online Shopping platform with excellent Brand Strategy for cooperations .
Nos-Job: An online platform for hiring and working as a freelancer.
Nos-Bet: Like silkroad, but for Gambling. Gambling is still illegal in many countries. But with Nos-Bet, a betting system that hide under the tor network, the identity of its users are secured.
Mobile Wallet: With just a few clicks, you can start accepting and using Nostrum in local stores.
Download
Current version: 0.0.1-beta
Jump to: