Topic: [CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit - page 6. (Read 66328 times)

Thanks for this. Here is hope this will get better one day. 

So finally i can tell you about some movement on cannabit. Behind the lines the biggest shareholders and i worked together with the issuer to put a move of the shares out of cryptostocks
towards nxt marketplace in motion.

Finally it seems we progress some more again.

We had a hard time pushing so we are at least happy to tell you that the issuer claimed he will pay the divs on September 5th. He will pay out those divs on cryptostocks.com. Cryptostocks is not our first choice but the alternative would have been waiting much longer until all shareholders made the move to nxt. We want to see divs now!

The issuer want's to make this monthly on the 5th from then on. I know, we heard this already. But let's see what's happening.

I agreed to make this post and i will contact possible shareholders in order to make the move fast. I do this to take work from issuer and other shareholders work too on this. We simply hope that it helps to move things.

Now to the first problem to solve.

Cryptostocks.com went missing on july 17th but luckily came back on july 22. Luckily because the list of shareholders, that cannabit gets mailed daily, does not include all shareholders! It includes only those shareholders that enabled the option that their email address can be seen by the issuer.

In order to confirm the ownership of your shares we would need you to claim them. Please make sure to go to your cryptostocks.com settings, on the top right, then enable the setting "Disclose my email". There is an orange info icon below. Only when you sat and saved this option you will be included in the list of shareholders and you can be confirmed. When you did this check out this form. More details following:
http://goo.gl/forms/ChqkbzOEfr

Please enter your details honestly. We will drop users of the list that try to scam or claim more than they have.

The issuer will stop trading of cannabit shares on cryptostocks at one point in time.

You will need a nxt wallet. You can get one from here http://nxtblocks.info/ NXT Wallets are in the cloud and you can access them with a nxt address, just like with a blockexplorer you can see all transactions and so, but you only can send when you know its passphrase or mnemonic.

Once you downloaded the wallet you can start it with run.bat. You will have an icon in the taskbar, maybe its hidden unter the arrow showing up. You click right on it and click open wallet. Then you can create a wallet.

The mnemonic (the list of words) you get, while creating the wallet, is similar to the private key of a bitcoin address. Make sure to SAVE it securely, for example in keepass2. Make sure to safe the keepass database and make backups since you should not lose your passphrase.

You have one nxt address in the wallet, and this address is called nxt account. You can use that address to attach your shares to.

But please secure your account first. From the start an account only has a 64bit security, which might make it possible to bruteforce it. In order to raise security to 256bits you need to make your public key known to the network. Only when this is done you can receive nxt or shares.

I found a free way to do so by visiting http://jnxt.org/key and enter your nxt address, your email and your public key. The public key is shown in your dashboard in your wallet but is ONLY seeable when you logged in with your passphrase instead with your account. And it vanishes even then when you got your first confirmed transaction in your account that used your public key. Which will happen when you use the website i linked.

Please make sure to save your brainwallet safely. Losing it will lose your nxt account and your shares attached unrecoverably. The nxt wallets are in the cloud, you don't need backups, the only thing needed are a backup of the mnemonic.

Like i wrote, the issuer wants to pay out the first div on cryptostocks on the 5th september. He then wants to pay the next div on nxt, and pay divs every month on the 5th then. There will be a max timeframe for claiming of shares of 6 months. Shares not claimed until then gets destroyed and the remaining shares raise in value of ownership of the whole investments and they receive the remaining divs.

Yes, NXT is really interesting. For someone coming from bitcoin it's a little bit hard to wrap your head around all the differences but once you got the hang of it is it cool.

And yes... this takes WAY too long.

NXT is pretty straight forward. If you or your contact need support feel free to get in contact.

This takes way to long and couldve been resolved months ago.

Yeah... when it went down i though "well... im so happy that no dividends were paid out shortly before". I mean when you ask around it seems no one knows kumala, the owner of cryptostocks, personally. And it seems he already had a "hack" once with another project. Im not really sure how it happened that cryptostocks became the exchange of choice.

Anyway... nxt has a learning curve, if you come from bitcoin, but it seems to be a nice thing.

Thanks for the info Sebastian. Looking forward to get rid of cryptostocks.

Hey guys... i wonder if anyone of you noticed but cryptostocks went down on july 17th. Luckily it came back on july 22 but while checking things out with the issuer of cannabit, when cs was down, we found that kumala, who runs cryptostocks.com, did implement a very poor security against the exchange going missing.

When glbse.com went down all exchanges implemented a security measure to ensure that shareholders and their shares are known to the issuer. To do so the exchanges sent a daily email with the shareholders bitcoin address and his shares. The shareholder could proove the ownership of the shares by signing a message with that address.

Unfortunately kumala only implements the cryptstocks email into that list. On top some shareholders are missing totally. Oo Thats a really stupid security measure, but nothing new. Cryptostocks has override codes for 2FA codes for example too.

Anyway... when you want to be identifyable i suggest that you go into your account and check the option that your email is allowed to be seen by the issuer. You might change your account email if you want to stay anonymous before. But you need to show an email you control.

If you dont do so you will not be able to proof you own shares.

So i would like you to do that in the meanwhile. I hope that soon a more detailed post will appear here about the future of cannabit. There is one... So secure your shares for now.

This is a great idea, cannabis plus bitcoin is good combo, but you will have to offer more than the average alt that have come with this.

So.....?

You guys should of known it was over after the powdery mildew...what a noob.

In the past, he also disappeared and came back. I think you're right, though. This time he's probably gone for good.

How's it going, communications in full swing and everything?
Drug trade as happening as you figured it'd be?

If you check the Jay wallet it actually uses a 2FA-like PIN code to encrypt all the data locally (client seed). So it kinda functions as that.

Thanks jeezy. I will forward to him in the hope of speeding up things.

Regarding who owns how many shares... i believe at the start of cannabit he chose cryptostocks because they offered to automatically send an email (each day?) to the issuer that contains the shares everyone owns. So he should have the actual stats. There arent trades going on really too. But i will ask him about this too.

Does NXT have 2FA or something like that too? I guess a password alone wouldnt be such a safe thing.


Yes, im happy too since otherwise i most probably would believe this project is done already. He wrote that he wants to monitor the email i wrote him to more regularly now. And he wanted to make a post in here in the next days.  I wonder if this happens. Would be good though. So depending on your questions you might post them in here. Otherwise you might send them to his email and i could ask him to check that account out and search for your question.

Well it's quiet easy actually. Just create an NXT account and create the asset. It costs 1000 NXT tho. The are also smart contracts on SecureAE but I haven't used them yet.

Tutorial: https://wiki.nxtcrypto.org/wiki/Asset_Exchange
Read and check video: http://www.secureae.com/
Here is a secure and fast offline/online wallet: http://jnxt.org/jay/
Check current assets: http://nxtreporting.com/

Note: I would ALWAYS do sensible stuff offline. (download the jay wallet, open the html on your PC) And use a really strong passphrase for your NXT account. Like 32+ signs etc. _ESPECIALLY_ for asset holding accounts.

Regarding the problem how to get the assets out of Cryptostocks and see who has how many shares assigned etc I have no clue.

Once that is done transferring the correct amount to the owner in NXT is no problem. Every shareholder needs a NXT adress and get in contact obv.

Can you talk to him and ask him to set up a time to talk to shareholders? While I'm glad that some information is getting out through you, I would like to talk to him and ask him some questions.

He got back to me and apologized for not communicating. He wants more information about NXT since he wants to make the switch as soon as they allow to list. He would like to get more information. So jeezy, maybe you can help with that since you have more experience in it and the things you mentioned sound like experience is something needed?

Regarding div payments... he writes its still about the projects where they still not have decided if they should move forward with.

I asked him to put some time in for communicating with shareholders too.

Guys,
This thing has been going since 12/2013 and has paid two tiny dividends. Put a fork in it; it's done-

NXT sounds fine then. I never used it yet personally and of course i dont have anything to explain to him about how he could set things up there.

Maybe he fears all the work he had to put into in order to understand the system and setting everything up. When i read you mentioning plugins then this might be a valid thing.

Do you know things there very well? If so, maybe it would speed up things if you could give something like a short tutorial or so. So that he can see its easily and fast done. No problems moving there or so.

He could proof that he is the real owner of cannabit by verifying an address bound to cannabit AND include something unique to the nxt asset in the message. Then no one can copy it and fake it easily.

So far i have the impression its time mostly that is a hindrance. So if you feel like it, maybe this could help.

How's it hangin', Sebastian? How does your garden grow?