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NCAERS - Nxt Community Asset Exchange Rating Service singapore
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Author Topic: NCAERS - Nxt Community Asset Exchange Rating Service  (Read 4909 times)

Nxter

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NCAERS - Nxt Community Asset Exchange Rating Service
« on: May 13, 2014, 08:15:19 pm »

CURRENT POLL WILL CLOSE 20TH MAY, CHOOSE WISELY UP TO 5 ASSETS.
NCAERS - Nxt Community Asset Exgange Rating Service


What is NCAERS?
NCAERS is a organization that assigns ratings to the Assets traded in the Nxt Asset Exchange. The organization will provide basic Asset Exchange market reports.

What is a AE rating?
AE rating is the asset's ability to pay back the debt by making timely interest payments and of the likelihood of default.

NCAERS AE RATING SCALE
The organization will use the following scale for its rates:
AAA    Prime
AA      High grade
A        Upper medium grade
BBB    Lower medium grade
BB      Non-investment grade speculative
B        Highly speculative
CCC    Substantial risks
CC      Extremely speculative
C        Default imminent with little prospect of recovery
D        In default / SCAM

What will NCAERS base its ratings on?
At this early stage NCAERS will basically assign the ratings based on the community perception. In other words, it will be based on weekly polls in this thread.
Update The rating of the assets will be calculated with a formula taking into account the following factors:
  • Weekly polls in this thread
  • Is the issuer real identity known?
  • Has the issuer a known account in bitcointalk.org?
  • Has the issuer a known account in nxtfourm.org?
  • Activity of the issuer
  • Website for the asset?
  • Announcement thread in the forum?
  • Activity of the Announcement thread
  • Known funds baking the asset
For NCAERS launch I have listed in the poll every asset in the asset exchange. For the upcoming polls, I will eliminate from the poll the assets with less votes (assigning them a bad rating) and will add to the poll possible new assets launched during the current week, keeping the poll to a feasible size.
In the near future NCAERS will add new factors to the rating formula.
Please be honest in the polls, if we make this right this might be very useful. if you change your mind during the week, you can modify your vote

NCAERS Vision
Our goal is to become a reference within the Nxt comunity to help Nxters investing in Assets by providing useful information.

Disclaimer
Me or the organization is not responsible of the decisions you make based on the organization's provided information. Invest in Assets only the NXT that you can afford to lose.

Gratefulness or Suggestions?
If you have a suggestion of how to calculate the ratings you can post it here. I am looking for partners that help building NCAERS, if you are interested PM me.
If you want to show your gratitude you can invite me for a beer at ID: NxterNxtforum ( 2253692559210370452 )
Thank you!



« Last Edit: May 14, 2014, 01:07:50 pm by Nxter »
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Berzerk

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #1 on: May 13, 2014, 08:26:01 pm »

I think these polls are too easy to game. We need the NXT voting system. :)
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nxtgt

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #2 on: May 13, 2014, 08:36:10 pm »

Voting, in general, is a very bad approach to assurance. Look at the number of ratings there are. Who determines those ratings? What are they even based on? What's the real difference between AAA and AA, or even junk for that matter? How does that really produce information that's good for investors other than "we feel this is safe"?

What we need is for these virtual companies to issue financial statements, prospectuses with high quality information, and for someone to audit them. Also there needs to be some sort of identity verification process, and an overall clarification as to whether or not these assets really constitute legally binding investments in a company. I doubt that any of these IPO companies are even incorporated, and who knows who is behind some of these fiat gateways?

Anyone here have an advanced accounting/finance degree that would want to do a NXT startup for asset attestation with me?
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Nxter

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #3 on: May 13, 2014, 08:38:26 pm »

I think these polls are too easy to game. We need the NXT voting system. :)

In the near future I will take into account other factors besides these polls results to assign the ratings.
For example if the issuers are known or their activity in the community.
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nxtgt

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #4 on: May 13, 2014, 08:40:56 pm »

I think these polls are too easy to game. We need the NXT voting system. :)

In the near future I will take into account other factors besides these polls results to assign the ratings.
For example if the issuers are known or their activity in the community.

In the real world, these are all junk quality. A forum post with a description of what you're thinking about doing and then some wildly crafted valuation is less than junk rated.
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Nxter

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #5 on: May 13, 2014, 08:47:56 pm »

Voting, in general, is a very bad approach to assurance. Look at the number of ratings there are. Who determines those ratings? What are they even based on? What's the real difference between AAA and AA, or even junk for that matter? How does that really produce information that's good for investors other than "we feel this is safe"?

The ratings will be calculated using a mathematical formula. The variables of this formula will be impartial facts and weekly polls. At the moment, I do not have the infrastructure to perform audits to the assets issuers.
« Last Edit: May 13, 2014, 08:50:40 pm by Nxter »
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Berzerk

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #6 on: May 13, 2014, 09:04:04 pm »

Voting, in general, is a very bad approach to assurance. Look at the number of ratings there are. Who determines those ratings? What are they even based on? What's the real difference between AAA and AA, or even junk for that matter? How does that really produce information that's good for investors other than "we feel this is safe"?

The ratings will be calculated using a mathematical formula. The variables of this formula will be impartial facts and weekly polls. At the moment, I do not have the infrastructure to perform audits to the assets issuers.

I think it's better than nothing. :) I will check your listings before I invest in upcoming IPOs. :)
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bitcoinpaul

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #7 on: May 13, 2014, 09:36:18 pm »

haha, hello old financial world. as predicted. gonna be fun.
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mikesbmw

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #8 on: May 13, 2014, 09:45:25 pm »

haha, hello old financial world. as predicted. gonna be fun.
Sarcasm much?
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bitcoinpaul

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #9 on: May 13, 2014, 09:45:53 pm »

haha, hello old financial world. as predicted. gonna be fun.
Sarcasm much?

don't know.
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Nxter

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #10 on: May 13, 2014, 10:14:27 pm »

The rating of the assets will be calculated taking into account the following factors:

  • Weekly polls in this thread
  • Is the issuer real identity known?
  • Has the issuer a known account in bitcointalk.org?
  • Has the issuer a known account in nxtfourm.org?
  • Activity of the issuer
  • Website for the asset?
  • Announcement thread in the forum?
  • Activity of the Announcement thread
  • Known funds baking the asset
« Last Edit: May 13, 2014, 11:02:18 pm by Nxter »
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nxtgt

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #11 on: May 13, 2014, 10:59:07 pm »

haha, hello old financial world. as predicted. gonna be fun.
Sarcasm much?

don't know.

Old financial world runs on basic economic rules that govern why things operate the way they do (regulation) as opposed to how they operate (what NXT is trying to innovate). Don't make an ambitious project as this on seem as foolish by making ignorant comments. It is more foolish to trust individuals over the internet running IPOs with highly creative valuations and NO information and issuing assets than it is to invest in real companies or banks. This is a glaring problem that is not technology related but human related.
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CryptKeeper

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Re: NCAERS - Nxt Community Asset Exgange Rating Service
« Reply #12 on: May 14, 2014, 01:04:37 pm »

haha, hello old financial world. as predicted. gonna be fun.
Sarcasm much?

don't know.

Old financial world runs on basic economic rules that govern why things operate the way they do (regulation) as opposed to how they operate (what NXT is trying to innovate). Don't make an ambitious project as this on seem as foolish by making ignorant comments. It is more foolish to trust individuals over the internet running IPOs with highly creative valuations and NO information and issuing assets than it is to invest in real companies or banks. This is a glaring problem that is not technology related but human related.

+1
Don't imitate "old financial world" with nxt, but take advantage of their knowledge.

Quote
We can draw lessons from the past, but we cannot live in it.
Lyndon B. Johnson
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apenzl

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Re: NCAERS - Nxt Community Asset Exchange Rating Service
« Reply #13 on: May 14, 2014, 01:23:49 pm »

NXT Newsletter (AE Special)
http://nxter.org/nxt-newsletter-ae-special/
Hi apenzl,
Very nice AE Special, but you forgot to mention the first AE rating service
 ;)

Hi everybody,
Please, remember to participate in the current NCAERS poll. The poll will close 20th May.
NCAERS

Thank you.

Yeah, I wanted to see where it went. The 20th is juuuust in time for the next newsletter  ;)

Best regards,
/apenzl

[EDIT] You are in it!  ;)

barbierir

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Re: NCAERS - Nxt Community Asset Exchange Rating Service
« Reply #14 on: May 14, 2014, 02:03:46 pm »

A better method is the one used by btcjam.com , people who want to borrow get rated based on many different factors: Bitcointalk, Facebook, Paypal or Linkedin accounts, Ebay feedbacks, ID card, utility bills, proof or residence, bank statements, 3rd party references, etc... and they also agree, in case of default, to an international arbitration service that can be legally enforced.

I suppose that one day all the Nxt AE rating services will use similar or better methods.

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Nxter

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Re: NCAERS - Nxt Community Asset Exchange Rating Service
« Reply #15 on: May 14, 2014, 02:48:23 pm »

NXT Newsletter (AE Special)
http://nxter.org/nxt-newsletter-ae-special/
Hi apenzl,
Very nice AE Special, but you forgot to mention the first AE rating service
 ;)

Hi everybody,
Please, remember to participate in the current NCAERS poll. The poll will close 20th May.
NCAERS

Thank you.

Yeah, I wanted to see where it went. The 20th is juuuust in time for the next newsletter  ;)

Best regards,
/apenzl

[EDIT] You are in it!  ;)

Thanks, that's a big motivation. I will have the first AE ratings for then!

A better method is the one used by btcjam.com , people who want to borrow get rated based on many different factors: Bitcointalk, Facebook, Paypal or Linkedin accounts, Ebay feedbacks, ID card, utility bills, proof or residence, bank statements, 3rd party references, etc... and they also agree, in case of default, to an international arbitration service that can be legally enforced.

I suppose that one day all the Nxt AE rating services will use similar or better methods.

This is just the start, see how it goes. Progressively will go adding more factors to the formula.
« Last Edit: May 14, 2014, 03:50:20 pm by Nxter »
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nxtgt

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Re: NCAERS - Nxt Community Asset Exchange Rating Service
« Reply #16 on: May 14, 2014, 07:34:17 pm »

I would advise to stay away from using bond ratings for these assets as they can be misleading and convey a false sense of assurance.

Stick to just a few ratings, maybe 3 at most. Maybe do levels: Level 1, Level 2, Level 3, with 1 being the "most trusted", and each with a description of the criteria of factors you've identified, plus a general disclaimer that these are all speculative, high risk with little to no financial information supporting them.
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