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Nautiluscoin is a next generation digital currency and free payment network designed to process transactions faster than Bitcoin with reduced volatility.
An Improved Digital Currency
Nautiluscoin was designed as a next generation digital currency. The rapid acceptance and ascent of Bitcoin has exposed several drawbacks in the original design. Volatility and slow transaction speeds may present hurdles for end users of Bitcoin. Nautiluscoin speeds up transaction time and reduces volatility making it an ideal global digital currency.
A transaction with Bitcoin requires an impractical ten minutes before it is confirmed, but with Nautiluscoin transactions are confirmed every sixty seconds. Keeping customers satisfied requires fast, secure transactions - with Nautiluscoin customers are on their way ten times faster than Bitcoin. Transactions are safeguarded from multi-pools using DigiShield.
The price volatility of Bitcoin has been a stumbling block for wider acceptance. Nautiluscoin was designed with a self-stabilization mechanism - the Nautiluscoin Stabilization Fund. Whether you choose to convert your Nautiluscoin immediately or hold for the long run, our goal is to provide a deep, stable, and liquid market.
* 159.39 coins per block
* 1 minute block target
* 16,180,000 total coins
* 1% reduction every week
* DigiShield difficulty retargeting
* 1% premine
Nautiluscoin Stabilization Fund:
One percent of Nautiluscoin was pre-mined and partially used to establish the Nautilus Stabilization Fund (NSF). All proceeds from sales of the pre-mined coins allocated to the NSF will be used to place buy orders for Nautiluscoin. The NSF will actively make a market in Nautiluscoin to ensure a stable growth pattern. The goal of the NSF is to reduce price volatility while providing steady price appreciation. By allowing for price appreciation, the NSF will combat the effects of inflation on purchasing power.
I have noticed a lot of chatter/confusion over the NSF so I though I would expand on the purpose and design. The inspiration for the NSF is Friedrich Hayek’s book The Denationalization of Money.
Hayek believed that the state should not have a monopoly on the creation of currency - he viewed currency as a commodity that should compete for acceptance. He surmised that competition would create the strongest currency and society would benefit. The conclusion Hayek reached was that a weak currency (devalued) would hurt creditors as they would be paid back with currency that is worth less than when it was lent. For example, if I lend money at an interest rate of 10% but the currency falls by 20% I am really losing 10% of purchasing power.
On the other hand, a strong currency hurts debtors as they must pay back debt with currency that can buy more than when it was borrowed. So, if I borrow money at 10% and the currency appreciates by 10%, my interest rate is really 20%.
Hayek concluded that both debtors and creditors would gravitate toward a stable currency because it was mutually beneficially.
The biggest criticism of Bitcoin from the financial community is its volatility - everyone has the same question, “How can bitcoin ever become a viable currency if it fluctuates 10-20% a day?” The volatility is a huge flaw for BTC and it is why I created Nautiluscoin. A merchant must have a reasonable expectation that a currency can be converted to fiat if needed without losing 10% of its value. At the same time, those who want to use the currency must first buy the currency and need to be assured that they can buy enough to make a purchase without having to pay 10% higher to obtain the currency. In other words, a stable growth pattern is needed.
I share Hayek’s view that a currency should reflect its supply and demand - if more people want to use it, the price should rise. Wild daily fluctuations will kill any medium of exchange.
My original concept was to use either a currency peg system or daily band. However, as we have seen countless times these systems are flawed. Once the market realizes the entity responsible for maintaining the peg is under-capitalized people abandon the currency. For a real life example we need not look any further than the breaking of the Bank of England.
The NSF is designed to act as a speed bump - when things get out of hand in either direction the NSF has the ability to step into the market. As with all systems the NSF has a flaw too - it can be overwhelmed. That is to say if a miner decides to dump, the NSF can only buy so much…alternatively if merchant and investment interest create tremendous demand the price can move rapidly higher.
The speed bump nature of the NSF is a way to gain acceptance, just like Hayek concluded. The NSF does not prevent the price from appreciating significantly, it just aims to make the pace reasonable so end users of the currency will be attracted. At the same time, the NSF cannot prevent the price falling to zero as it does not have enough fire power to buy every NAUT in existence.
A Real Life Example
The creation of the Get NAUTi shirts is a real life example of why a stable currency is needed. Between production and shipping the shirts will cost me around $18-20 - I must convert to fiat because the printer only accepts US Dollars. I decided to take only NAUT to illustrate how the system works. I am charging 200 NAUT for the shirts, which at current exchange rates is about $18. If miners decide to sell and the rate drops to 0.0001 BTC then I am only collecting $9, leaving me on the hook for $11 per shirt. I am willing to take this risk because I am trying to illustrate why a reasonably stable rate is needed.
Mrs. BK tells me I don’t always explain what is going on inside my head, so I hope this helped more than confused
Digishield and latest updates were provided by the Digibyte team.
The vision for Nautiluscoin is to raise awareness of digital currencies and to provide a solid investable asset for the coming wave of institutional investors. As institutional investors enter the space they will need strong, transparent coins with a broad an vigorous community backing. Our goal is to make Nautiluscoin the investment of choice for institutional digital currency investors.
Any successful venture in the capitalist system needs to solve a problem to have value. We view digital currencies as a way to efficiently transfer capital between private individuals fulfilling the basic function of capitalism. A community of like-minded individuals with a common goal can launch a digital currency to solve a problem, thereby creating value for the capital providers and receivers.
Nautiluscoin’s mission is to introduce digital currencies as an investable asset class and provide the premiere instrument for cryptocurrency investing.
There are three pillars to our plan:
1. Build a Community
2. Gain Acceptance
3. Continuous Development
Step 1: Build a Community
In order for Nautiluscoin to have value it must solve a problem. Our first task is to ask our community members what problem needs to be solved, with a particular focus on solving a problem that will attract interest of the investment community.
Social: Actively promote our solution to the altcoin community and to the investment community
Trading: Create a deep liquid market by listing the coin on high volume exchanges
Step 2: Acceptance
Identify merchants/investors/communities that could benefit by using Nautiluscoin. This could also include sponsorship opportunities like Dogecoin Car.
Step 3: Continuous Development
We will add full time development team to handle any changes/updates that will be needed.
Potential Development Projects
-Proof of Stake Implementation
-Nautiluscoin Card for Easy Merchant Acceptance
Nautiluscoin was launched and created by Brian Kelly (BK_PHI)
Brian Kelly is founder and managing member of Brian Kelly Capital LLC, a global macro investment firm catering to high net worth individuals, family offices and institutions. He is also the creator of the BKCM Indexes, benchmarks for multi-asset money managers.
He has more than 19 years’ investment experience trading U.S. and international equities, foreign currency, options, futures, metals and commodities. He has traded for many of the largest hedge funds, pension funds and mutual funds. Prior to BKCM, he was co-founder and managing partner of Shelter Harbor Capital LLC and managed the Shelter Harbor Capital Global Macro Fund. He was also co-founder and president of MKM Partners, a brokerage firm catering to institutional investment managers.
He graduated from the University of Vermont, where he received a B.S. in finance. He also holds an MBA from Babson Graduate School of Business with a concentration in finance and econometrics.
Kelly is a CNBC contributor and can be seen regularly on the show “Fast Money,” “The Kudlow Report,” “Money in Motion” and “Trading the Globe.”
Follow Brian Kelly on Twitter @BrianKellyBK.
I created the coin to learn about cryptocurrencies and spread awareness…in the process I caught the altcoin bug!
Creating a cryptocurency has been a trial and error experience. The original version of the coin had older code and wasn’t sufficient to compete in this evolving environment. However, with the help of the good people at Austin Global and Digibyte we believe we’ve got the best.
I selected the name Nautilus based on how they grow at a consistent rate over time and their protective powerful shells. With this coin’s unique idea of a stabilization fund and top notch developers supporting it’s shell, we think it’s the perfect fit for this coin.