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Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
That's great news!!!
This is just the start of this project. We have learned more in this weekend than many in crypto have learned in years - this knowledge is going to pay dividends. It invaluable.
-BK
This is just the start of this project. We have learned more in this weekend than many in crypto have learned in years - this knowledge is going to pay dividends. It invaluable.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Just wanted to share the video from CNBC all about Nautiluscoin -->
http://video.cnbc.com/gallery/?video=3000424312
http://video.cnbc.com/gallery/?video=3000424312
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Hello NAUT Community, this is BK!!!
First, I want to thank you all for you patience, support and input during the coin swap. I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off. Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project.
Now let's move on to a few unanswered questions. In particular, many of you have had question about the coin supply and the gold backing.
Coin Supply
The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account. The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing. Critically, our plan is not to increase the coin supply by more than 5-10% a year. As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power.
To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT.
Gold Backing
All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation. These revenues will be used to buy gold to back Nautiluscoin. We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold. This process is not yet complete, but I expect completion in the near future.
The more Nautiluscoin is used or traded, the more gold we will buy. In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy. Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2. By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.
I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.
-BK
First, I want to thank you all for you patience, support and input during the coin swap. I also want to thank EvilDave (he's actually not evil at all, shhhhhh), Bas and the entire NXT team for their help in executing this swap - without NXT we would not have been able to pull this off. Also a BIG thank you to Lee and Nick at Coinstructors for organizing this entire project.
Now let's move on to a few unanswered questions. In particular, many of you have had question about the coin supply and the gold backing.
Coin Supply
The total coin supply is 16,180,000 but only about 5,300,000 circulate. The remaining ~11 million are being held in the Nautiluscoin Foundation account. The plan for the coins held by the Foundation is to use them for 1) Airdrop 2) Promotion 3) Gold backing. Critically, our plan is not to increase the coin supply by more than 5-10% a year. As a large holder of NAUT I have a vested interest in keeping the supply in check. More importantly, from the beginning my goal has been to create a coin which continuously increases purchasing power.
To be clear, these limits are not set in stone BUT any deviation would only occur if it supported the purchasing power of NAUT.
Gold Backing
All the revenues generated from transactions via the exchange, websites or elsewhere will go directly to the Nautiluscoin Foundation. These revenues will be used to buy gold to back Nautiluscoin. We have set up the Foundation as an entity that will act as the holder and redeemer of the currency for gold. This process is not yet complete, but I expect completion in the near future.
The more Nautiluscoin is used or traded, the more gold we will buy. In this way the purchasing power of Nautiluscoin should continually climb with the amount of gold we buy. Additionally, the value of any digital currency is a function of its network effect or, using Metcalfe's Law, the number of transactions ^2. By encouraging the use of Nautiluscoin we hope to continually increase the size of the NAUT network and by extension be able to buy more gold to support purchasing power.
I am looking forward to the future of NAUT and cannot express enough my gratitude for all your support during this transition.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Hi all, just wanted to check in.
I have been notably absent from this board and for those who are supporting Nautiluscoin I appreciate your enthusiasm. To be clear, I have not abandoned NAUT and I continue to make a market with the NSF.
Most importantly, the PoS transition continues but I want to make sure it is done correctly and securely. I have waited this long to implement my ideas and I am not going away!
-BK
I have been notably absent from this board and for those who are supporting Nautiluscoin I appreciate your enthusiasm. To be clear, I have not abandoned NAUT and I continue to make a market with the NSF.
Most importantly, the PoS transition continues but I want to make sure it is done correctly and securely. I have waited this long to implement my ideas and I am not going away!
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Hi all --
It seems like peoples imaginations have run away with themselves.
No new coin is in the works. PoS is coming, just wanted to make sure the PoW fixes were stable.
That is all.
BK
It seems like peoples imaginations have run away with themselves.
No new coin is in the works. PoS is coming, just wanted to make sure the PoW fixes were stable.
That is all.
BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Hi all -
I made an error when merging the new code. It has been fixed thanks to Bryce and Flying Mongoose.
I apologize for STILL being a noob.
-BK
I made an error when merging the new code. It has been fixed thanks to Bryce and Flying Mongoose.
I apologize for STILL being a noob.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
PoS Update
Let me start by thanking everyone for their patience. This process has taken a lot longer than anyone anticipated but when it is complete it will be done correctly. As I have said from the beginning, this is a long term project for me and my goal is to bring institutional investors into the DigitalFX space. This goal requires making sure the platform is solid before inviting big players to the party.
I view DigitalFX as a new asset class and as such will need multiple coins to grow the ecosystem. NAUT will be positioned to act as Gold currently does in the traditional financial system.
We will be rolling out PoS in stages in the very near future. We have a multipool set up here www.nautipool.com
Once PoS is rolled out I will begin the marketing process which will include more features on CNBC, an exciting athlete sponsorship program, and of course my book.
Regards,
BK
Let me start by thanking everyone for their patience. This process has taken a lot longer than anyone anticipated but when it is complete it will be done correctly. As I have said from the beginning, this is a long term project for me and my goal is to bring institutional investors into the DigitalFX space. This goal requires making sure the platform is solid before inviting big players to the party.
I view DigitalFX as a new asset class and as such will need multiple coins to grow the ecosystem. NAUT will be positioned to act as Gold currently does in the traditional financial system.
We will be rolling out PoS in stages in the very near future. We have a multipool set up here www.nautipool.com
Once PoS is rolled out I will begin the marketing process which will include more features on CNBC, an exciting athlete sponsorship program, and of course my book.
Regards,
BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
PoS Update
We are very close to the PoS switch. As such I want the community to have the first look at the white paper explaining the algorithmic monetary policy that Nautiluscoin will employ. Keep in mind this document is written for the general public - the specs will be released soon.
Abstract
As pointed out by the Bank of England in its Quarterly Bulletin 2014 Q3 The Economics of
Digital Currencies, Bitcoin faces three challenges:
1) Volatility 2) Sustainability of Low Transaction Fees 3) Limitations of a Fixed Money Supply.
Nautiluscoin was designed to address and eliminate the challenges faced by Bitcoin. This
document serves an introduction to the three pronged approach employed by
Nautiluscoin to reduce volatility, maintain low fees and regulate money supply.
The Nautiluscoin Stability Fund seeks to reduce volatility, while the Proof of Stake
algorithm does away with the need for expensive mining equipment. Additionally, at the
heart of the Proof of Stake reward calculation is an algorithmic monetary policy that
adjusts money supply with demand.
Digital Currencies, Bitcoin faces three challenges:
1) Volatility 2) Sustainability of Low Transaction Fees 3) Limitations of a Fixed Money Supply.
Nautiluscoin was designed to address and eliminate the challenges faced by Bitcoin. This
document serves an introduction to the three pronged approach employed by
Nautiluscoin to reduce volatility, maintain low fees and regulate money supply.
The Nautiluscoin Stability Fund seeks to reduce volatility, while the Proof of Stake
algorithm does away with the need for expensive mining equipment. Additionally, at the
heart of the Proof of Stake reward calculation is an algorithmic monetary policy that
adjusts money supply with demand.
Enjoy!
BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Does anybody have a view or opinion on FrozenBit?
Why? And what are up to?
Do they have something you want? Suspiciously watching you BK, as for now you seem to be keeping any info about new wallet under wraps. 
Nothing clandestine at all...I am always looking for new tech/ideas and they contacted me, Thought I would ask the community for input
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Happy Labor Day to those in the US,
Just wanted to check in and let you all know I am still here...hopefully this week i will get approval from my publisher to release some details on the dynamic PoS we are working on.
-BK
Just wanted to check in and let you all know I am still here...hopefully this week i will get approval from my publisher to release some details on the dynamic PoS we are working on.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Looks like people's imaginations have been running a little wild.
To clear a few things up:
1.) I have not been active in the thread because I am on vacation.
2.) The book will be sold for US Dollars at major retailers i.e. Barnes and Nobles and Amazon
3.) I have retained the rights to sell the book for digital currency; I am currently working to get a Tier 1 payment processor on board before the book release in November.
4.) I am currently buying NAUT on Mintpal at 13k
I am very serious about NAUT and committed to making it successful.
I don't have the time or the inclination to read all the craziness - if you are unhappy with NAUT please move on to the 400 other coins that are available.
-BK
To clear a few things up:
1.) I have not been active in the thread because I am on vacation.
2.) The book will be sold for US Dollars at major retailers i.e. Barnes and Nobles and Amazon
3.) I have retained the rights to sell the book for digital currency; I am currently working to get a Tier 1 payment processor on board before the book release in November.
4.) I am currently buying NAUT on Mintpal at 13k
I am very serious about NAUT and committed to making it successful.
I don't have the time or the inclination to read all the craziness - if you are unhappy with NAUT please move on to the 400 other coins that are available.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
Thanks for the positive comments on the book. It will be distributed widely, i..e Barnes and Noble, Amazon etc, both hardcover and e-book.
Since the publisher is not set up to take digital currencies, I have retained the rights to sell the book for digital currency...I like the idea of a signed copy with a NAUT purchase!
***********************
Separately, here is piece I wrote on the impact of merchant acceptance on the price of BTC http://www.riskreversal.com/2014/08/22/on-bitcoin-a-guest-post-from-brian-kelly/
I plan to write more on the fundamentals of BTC and NAUT.
-BK
Since the publisher is not set up to take digital currencies, I have retained the rights to sell the book for digital currency...I like the idea of a signed copy with a NAUT purchase!
***********************
Separately, here is piece I wrote on the impact of merchant acceptance on the price of BTC http://www.riskreversal.com/2014/08/22/on-bitcoin-a-guest-post-from-brian-kelly/
I plan to write more on the fundamentals of BTC and NAUT.
-BK
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
also wanted to give the community a sneak peak at my book cover...Nautiluscoin is covered in Chapter 7 and 8 including the long run vision...once I get permission from the publisher I will release the plans.
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
hi all - i just updated the wallet links on the ANN and also on the website.
-BK
-BK
I know it is not a PoS wallet - is it even different, or is it the same wallet?
same wallet...some peeps were saying links weren't working
Re: [ANN] [NAUT] Nautiluscoin - First Coin w/Stabilization Fund - Digishield
PoS Update
Just talked to Bryce - he is running it on Testnet now. I dont have a completion date, but we have waited this long so I am fine waiting until it is tested thoroughly.
-BK
Just talked to Bryce - he is running it on Testnet now. I dont have a completion date, but we have waited this long so I am fine waiting until it is tested thoroughly.
-BK