Topic: MONEROMAN88 IS BLUE MEANIE IS JOSH ZEIDNER!! (Read 2986 times)

Im controversial not because I did something wrong, but because I'm extremely good at what I do- cryptocurrency engineering.

-bm

here I'll explain how to get into the fiat exchange business in your town using the AE.  I had made some comments about the Bitcoin ATM and how they are not as useful once you have a decentralized exchange and one commenter wasn't completely clear on why this is, so I'll explain here.

NOTE: there are serious legal considerations with providing these sorts of services.  In many nations, such as the United States of America(also known as The Land of the Free) and most parts of Europe this sort of activity is either partially or strictly illegal.  Make sure you understand the legal consequences of starting your own local fiat exchange.

http://www.beeslife.com/currency/bb/5.jpg

step 1:  Create A Reserve

First step is taking a bit a cash and making a reserve.  Your eventual users will need to trust that you have this money in the bank because they will be honoring your Cryptonotes for real money.  If the trust(or perception of) breaks down with the public ie. they don't believe that you can honor all outstanding notes, you will have a collapse in market price.  So depending on how you do your banking, it's best to have some sort of service that can provide a document(like a bank statement) that can prove you have the money in the bank to correspond with your cryptonotes.

step 2:  Create Some Marketing Material

Easiest way to do this is make a website that explains why your notes are credible, where/when they can be exchanged, where the money is stored, historical information(how long has the service been running), how many happy customers you have, etc.  Also starting a forum or blog so your customers can communicate with you in a publicly auditable way can really help to instill confidence with your users.

step 3:  Issue The Asset

Next you must Issue the asset.  The Asset Quantity should correspond to how much money is in your reserve(from step 1).

https://i.imgur.com/ZaPYIQy.png

step 4:  Market the Asset

Now you must offer the notes for sale.  They must sell ABOVE the redemption value(in real terms) in order for your business to make sense.  Thus it is your responsibility to make sure the assets are trading at a favorable rate.  They may drop below profitable levels at first, but as you gain reputation they will float above the redemption value.  The difference is called Seigniorage.  If they drop too low, you may have to buy them back.  You must, in all cases redeem them for their pre-defined cash out value or lose your credibility.

step 5:  Offer Redemption Services

http://3q6cxy17ced7214bqz1j6fq32m8.wpengine.netdna-cdn.com/wp-content/uploads/2014/01/Bank-Teller1-198x198.jpg
"Hello, Welcome to Meaniebank(tm).  How can we help you today?"

You must maintain a way for your customers to redeem the notes for real money.  Depending on the needs of your market, you may offer this service at some place in your town, perhaps at a Bitcoin Meetup, or a NXT Meetup.  As your bank becomes well known, the notes may be accepted in other geographical areas.  You can even work out deals with friends in other town to offer redemption services in other areas(make sure you cut them into the profits ).  You should do this in a safe place where robberies and such are unlikely.  Also dressing properly will help you instill confidence with your customers.

step 6:  Enjoy Your Success

You're a banker now like J.P. Morgan.  Doesn't that feel great?

-bm

there's a lot of FUD out there because rival projects who have VC backing see NXT as a huge threat.

NXT is an open source project and even though we have great minds evangelizing for NXT, they don't really get paid- they seem to do it out of some sort of religious conviction.

-bm

most of the cryptocoins are pump and dump schemes.  The market cap is measured by some weak function of sales, but the owners could be holding onto 95%+ of the coin.

NXT is not in the above category.

-bm

I'm a cryptocurrency expert.  I got involved with NXT fairly recently.  The NXT model is far more lucrative than Bitcoin.  I've also been involved with the PPC community and I've worked on other algorithms in the past.

-bm

I realize I've mentioned NXT many times lately, but IMHO the good people are over at the NXT project.

-bm

Anyone who actually buys NXT and holds(for the longterm as they say) is an idiot.

NXT is only good for pumping and dumping, even then it's extremely risky, because most NXT coins are owned by the few people who bought in the IPO back last year.

 . Probably this is the cause of this "misunderstanding"...

"BitcoinExpress" you better shut your puss in the first place if all you can is play the big boy. I've never stumbled upon any action of yours, kid. Thanks for making me burst in laughter like a tard though.

Gotta love this forum for the amount of shitheads around

TO BE 100% CLEAR.

I have no knowledge of the operator of the account MONEROMAN88, I have no knowledge of the identity of this author and I do not necessarily agree with statements related to this account.

-Joshua Zeidner

TO BE 100% CLEAR.

I have no knowledge of the operator of the account MONEROMAN88, I have no knowledge of the identity of this author and I do not necessarily agree with statements related to this account.

-Joshua Zeidner

If Monero developers were unknown I would never support it either.

Lets end this "debate" saying I'll never back a token that is controlled by the sock-puppet-central-bank of whoever started this thing.

He only responded from the source-code criticism and not the other core fundamental problems, yamn as long as you want the community is tired of being fooled by scammers.

the community is tired of being fooled by scammers

NXT is not crypto, its a token and its a scam, I saw when it came to origin in late 2013, it always smelled, tasted and looked like a scam, guess what, its a scam and the real crypto community backed by legit bitcoin and cryptonote coins are fed up with NXT token non-minerable scam Bullshit.

so he was just trolling and acting like he is somehow connected to XMR 

Joshua Zeidner,

return 1 million NXT that you stole from NXT community!

Have some love, pingu dude, just to feel truly included.


Back to the matter at hand:
Joshua Zeidner, the poor. sad, little victim af an evil conspiracy.
Or a delusional lunatic and thief?
http://cointelegraph.com/news/112643/the-mystery-of-the-missing-1000000-nxt

And if anyone wants to check out NXT:
www.nxtforum.org

Gotta point out that NXT is currently rising against BTC, so its a good place to hide in while the current BTC storm passes over.

i bought like 10 to feel included in the community