[Nut] Nutcoin Fan club. The time of Nut has arrived :D. - Overclock.net - An Overclocking Community

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[Nut] Nutcoin Fan club. The time of Nut has arrived :D.

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post #1 of 653 (permalink) Old 01-09-2014, 01:48 PM - Thread Starter
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"Give me control of a nation's money and I care not who makes the laws" — Mayer Amschel Bauer Rothschild

S01E01 : The Genesis
S01E02 : The Sanctuary
S01E03 : The Oath << https://bitcointalk.org/index.php?topic=397938.msg4835128#msg4835128

S01E04 : The Factory << YOU'RE WATCHING THIS

S01E05 : The Guardian
S01E06 : The Exchange

S02E01 : The Mission
S02E02 : The Evangelist
S02E03 : The Foundation
S02E04 : The Secret Weapon
S02E05 : The Army
S02E06 : The Art Of War

S03E01 : The Anarchy
S03E02 : The Church
S03E03 : The State
S03E04 : The Laws
S03E05 : The Freedom
S03E06 : The Promised Land

NutCoin: Anti Scarcity Stabilized Digital Cash

What is Nutcoin?

Nutcoin (NUT) is a fast version of Bitcoin. It uses scrypt as a proof-of-work algorithm, massive supply for everyone, and a simple stabilization mechanism to limit speculation effects.

- 40 second block targets
- 20 000 coins per block, halves every ~6 months
- difficulty retarget every ~2 hours
- supply: 92 000 000 000 (92 billions of coins)
- current block count for the launch : 0 (no premine, nada, niet, queudchi)

What is the innovation?

- Anti-scarcity: 92 billions on coins will be delivered in the next 10/15 years
- Long Term Vision: NUT will ever be the most profitable coin to mine in the long run
- Value stabilization via innovative APDTC system (Anti Pump/Dump Transaction Control) to avoid market manipulation (EXPERIMENTAL IMPLEMENTATION)
- NutLaw: Realtime Recommended Price Algorithm

Scarcity Principle

An economic principle in which a limited supply of a good, coupled with a high demand for that good, results in a mismatch between the desired supply and demand equilibrium. In pricing theory, the scarcity principle suggests that the price for a scarce good should rise until an equilibrium is reached between supply and demand.

However, this would result in the restricted exclusion of the good only to those who can afford it. If the scarce resource happens to be grain, for example, individuals will not be able to attain their basic needs.

This is what is happening with Bitcoin. The experience told us that the value of a currency is defined by its popularity, by the faith, trust, and by what you can buy with the money to eat and to survive. It is not about its scarcity. 90% of the world population will not be able to get 1 BTC, so Bitcoin will never change the world.

Why another "copycoin"?

Nutcoin is not a copycoin, it was designed to have a real value based on the "real world" necessity to buy goods, services, food, coffee or nuts, hence the name. If Bitcoin is the new gold and Litecoin is the new silver, then Nutcoin is the new liquid cash.

Nutcoin is faster than all other available crypto-currencies, it's secure, and has enough supply of coins to feed the entire planet for the next 15 years. We design it to challenge the US Dollar marketcap by 2024, the main reason we created Nutcoin.

Total market capitalizations:

It is estimated that only 2% of all US Dollars in existence are in paper money and coins. The other 98% is digital. Bitcoin's scarcity and its $10 billions market is negligible in comparison with the "real world" market caps.

- Bitcoin: about $10 billions USD
- Total of all publicly traded companies in the world: about $50 trillion USD
- USD marketcap: $11 trillion USD by the end of 2013
- NUT target $1.3 trillion USD market cap by 2024

Nutcoin Massive Planet Supply Plan

2014 : + 7 776 000 000 more coins --> 1 NUT = ~ $0.0001 USD recommended value
: + 3 888 000 000 more coins
2015 : + 1 944 000 000 more coins Transaction Limit: ~ 50 000 NUT
: + 972 000 000 more coins
2016 : + 486 000 000 more coins Transaction Limit: ~ 100 000 NUT
: + 243 000 000 more coins
2017 : + 121 500 000 more coins Transaction Limit: ~ 200 000 NUT
: + 60 750 000 more coins
2018 : + 30 375 000 more coins --> 1 NUT = ~ $1 USD recommended value
: + 15 187 500 more coins
2019 : + 7 593 750 more coins Transaction Limit: ~ 800 000 NUT
: + 3 796 875 more coins
2020 : + 1 898 437 more coins Transaction Limit: ~ 1 600 000 NUT
: + 949 218 more coins
2021 : + 474 609 more coins Transaction Limit: ~ 3 200 000 NUT
: + 237 304 more coins
2022 : + 118 652 more coins --> 1 NUT = ~ $10 USD recommended value
: + 59 326 more coins
2023 : + 29 663 more coins Transaction Limit: ~ 12 800 000 NUT
: + 14 831 more coins
2024 : + 7 415 more coins --> 1 NUT = buy something that worth $15 today
: + 3 707 more coins

That's it: even if you have the chance to mine XX millions of nuts, you will not be able to make big transactions or withdraw more than 50 000 NUT the first months. This simple mechanism is the real innovative approach of NutCoin, and it will avoid large and massive buy/sell orders to manipulate the value of the currency. For now, APDTC is still experimental and will be set manually by the NutCoin developers.

How to get nutcoins?

It is not recommended to trade NUT in online exchanges (like btc-e, cryptsy etc.) before the currency is widely used and well established. We will do our best to widespread the currency to online and local merchants. We hope NUT value will stay correlated to "what you can buy with it". The recommended price for 1 NUT is now around $0.0002 USD, it should be around $1 value by 2018.

Mining Guide

Website: http://www.nutcoin.com/ (Avoid nutcoinS.com as it is outdated but still comes up in google)
Sources: https://github.com/dmx374/nutcoin
MacOSX Wallet: http://www.nutcoin.com/static/downloads/Nutcoin-Qt-MacOSX-10.8-70004.dmg (10.8+)
Windows Wallet: http://www.nutcoin.com/static/downloads/Nutcoin-Qt_Windows.zip
Reddit: http://www.reddit.com/r/nutcoin
BlockChain: http://www.nutchain.info/

RPC port: 9507
Default SuperSeed: (need to add more, PM dmx374 on bitcointalk.org)

http://nutcoin.miningpoolhub.com/ (Asia/US Servers)
http://www.thenorb.com/ (NEW)



http://www.cryptopoolmining.com/nutgift/ (please don't abuse biggrin.gif)



https://www.mintpal.com/voting Signup for 6 votes PER HOUR! Help keep nut growing!
https://cryptsy.freshdesk.com/support/search?term=nutcoin Dont forget to bug Big Vern!

Nutcoin has nothing to do with masonic things. We just love square, compass and nuts.

Above was all pulled from dev post here (slightly re-organized):

Personal thoughts:
I hope to spread the riches to fellow oc.net members. I am a big supporter of nutcoin and what it has the potential to become. I think if we all do this intelligently we can all become very wealthy off of nutcoin. The goal is simple. Establish a solid difficulty/fan base that will set the nut price at Nutlaw by the time it hits the big exchanges. This gives us here a major opportunity to get in while the difficulty is low and help it grow. Don't fear the increases in difficulty as nutcoin is still new and has some catching up to do to coincide with nutlaw. If we all hold out. Wait for the exchange release. Then hold your coins until after the new miners (people who hop on after it hits its first exchange) set the price at reasonable level. Then we can sell or continue to save, as the potential only increases with time. If most of us do this and start supporting now while the difficulty is low. We can all profit substantially in the long run. If your interested in giving a new coin a shot that has actual potential. Nutcoin is the way to go. Feel free to PM me or reply here with any questions about how to get started biggrin.gif.

[B][CENTER]:wackosmil :kookoo: [URL=https://www.overclock.net/t/1457860/nut-nutcoin-fan-club-the-time-of-nut-has-arrived-d]Go Nuts over Nutcoin! You would be Nuts not to![/URL] :kookoo: :wackosmil[/CENTER][/B]
Add to your signature if you love nutcoins! Help spread the word!
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post #2 of 653 (permalink) Old 01-09-2014, 03:13 PM
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post #3 of 653 (permalink) Old 01-09-2014, 04:22 PM
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Currently mining these, sat at just over 600K. Will have to shut my system down soon, really need to get my 2nd 7970 in here and double my hash power smile.gif

I have my Auto payout set to 20K I heard there was problems with setting higher, just wondering if those problems have been sorted I can set it to say 50K now?
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post #4 of 653 (permalink) Old 01-09-2014, 05:18 PM - Thread Starter
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No sir that is to help prevent pump and dump. You can not transfer over 50k at any time (the cap will be lifted later). Auto payments on any pool should be set to 25k max just in case to ensure you dont exceed 50k balance before auto-withdraw. Very important or you will have to get in contact with the pool owner tongue.gif.

The coin difficulty is expected to go up and up and the amount wont be so difficult to deal with when it does biggrin.gif. Right now we are very few with very many nut. Once there is much more and the nut becomes more rare. Withdraw limits will be easier to deal with and people will realize the true value of the nut.

This is by far the most promising coin start I have seen since I have started mining. It has more potential to make the initial investors rich then any I have seen. We have a serious opportunity if the base difficulty continues to rise as it has to make anyone who jumps on now a serious amount of profit. By the time this coin hits an exchange the difficulty will be high enough to prevent a dump at a stupid low price.
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post #5 of 653 (permalink) Old 01-09-2014, 05:33 PM
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I'll give her a go.... Only mined about 175k so far, but I expect that to increase. coolsmiley03.png

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post #6 of 653 (permalink) Old 01-09-2014, 07:09 PM
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Here was last night's and part of today's of my NUT payout.

I was both solo and pool mining, on separate cards. I concluded that at this difficulty, solo mining pays off a little less. So I pointed both my cards to the pool.
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post #7 of 653 (permalink) Old 01-09-2014, 08:06 PM
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Just sent about 5 Mh to the Nut

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post #8 of 653 (permalink) Old 01-09-2014, 08:10 PM - Thread Starter
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thanks rubic! Nut power! on the up and up biggrin.gif. Afteer you hit with 5mhz quite a few smaller users jumped on the other pools aswell. all the pools are back up and running well. Getting much less nut per hour now. But that was expected. Keep it up guys theres nowhere to go but up from here. were still small with plenty of potential as we are still growing everyday. If you all stick it out through the difficulty increases your old nuts will be worth more and more.

Follow the plan! Stay strong through difficulty increases and help find new users! Get the word out for nutcoin! OC.net users hold probably at least 25% of the net hashrate of nutcoin. If we can help keep it up we can help eachother prosper significantly. The dev is working hard to find merchants and services to expand nutcoin.

Keep it up guys and make sure you hold out and recognize the value of the nutcoin as the difficulty rises. Every hour you earn less nut only means the nut is worth more to a new user. Dont sell because you have alot save because youll make alot thumb.gif.

New contests coming soon aswell I will be giving away nutcoin! Ill keep you all posted! biggrin.gif
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post #9 of 653 (permalink) Old 01-10-2014, 01:48 AM
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I stopped mining today, but i will get back to them when i build a new rig thumb.gif
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post #10 of 653 (permalink) Old 01-10-2014, 03:28 AM - Thread Starter
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no worries i appreciate the dedication biggrin.gif, as do the true nut heads tongue.gif Its already doubled in mh/s the last 2 days (give or take it has fluctuated a bit). updated the thread aswell the new website is up and the future looks good for nutcoins biggrin.gif. Still climbing biggrin.gif.
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