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[ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin  
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Author Topic: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin  (Read 7060 times)

Rofo

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NobleNXT
Moving Forward Using 2.0 Platforms

Total Raised: 135BTC
(at 0 days remaining I stop NOXT/BTC offering and do the NOXT/NOBL burn at determined rate (see Distribution))


                                                                                                                                                                                                                                                   
NXT Asset ID: 6780060819348751348 - Using NXT Wallet for Holding/Trading NOXT

Web Cached Link to Unmoderated Community Thread #1 (Original Deleted by Mods)

The Paper:

Noble: Corporate Colored Coins
Applying Blockchain Technology to Traditional Business Structures as an Experimental Step towards Distributed Autonomous Corporations (DACs)

1-8: Introduction, Distribution, Platform Agnosticism, Utility, Exclusivity, Incentive to Participate, Stability, Thought Leadership




Proposal
NOXT is a project I have been researching and conceptualizing for a long time, taking much of what I have learnt publicly and privately in the cryptocurrency 'industry'. In essence it is a crowd funded coloured coin that aims to incorporate many market-expected features while having a game-plan of pushing the possibilities of coloured coins in what I expect will become an increasingly regulated and accountable space. These coins work differently to the decentralized cryptocurrencies often presented, and I hope the paper(s) released for each section helps clarify the idea. While parts of it is theoretical at this point in time pending regulations, licensing and legal clarifications from authoritative bodies on how the technology may be used moving forward (parts I make sure to clearly identify), much of it is already possible today pending a little exposure, faith, work and funding.


Crowd Fund
I would like to crowd fund this idea with both NOBL and BTC (preferably funded 50/50), of which the NOBL I receive would be permanently destroyed (one way of returning value to the NOBL community) and BTC used for funding things that will be laid out in the paper. So if you have any concerns with buying NOBL you are able to directly enter with BTC. Generally I have always disliked the idea of raising funds because of the outright scams prevalent in this space and the pressure that can come with them. However, after working with NOBL now for 11 months using 'community/reserve' funds (a double-edged sword I often talk about) and knowing that the ideas presented below require resources I will be attempting to raise approximately 420 BTC (210 BTC of this is funded in NOBL which is permanently destroyed) - with 100BTC ($35,000) being a minimum I could work with over 12 months to prove proof-of-concept.

During the time spent researching and preparing these proposals to move forward into 2015, as well as through a surprisingly extensive professional network outside of bitcointalk I very quickly came to know of the impending SEC crackdown on downright fraudulent misrepresentations regarding securities, equity, dividends and investment. My Twitter began warning about the growing problem before news started surfacing but unfortunately I am considered quite the 'negative Nancy' until things came to a head. I am approaching this project very slowly to make sure members understand what it represents and what it does not. I am also being careful to make sure that nothing I am presenting still 'quacks like a duck (security)' even though it isn't called a 'duck' (security). There are grey areas still for me and some risks which while I am uneasy about seem acceptable, however I will be very proactive here as the scene matures rather than hide in loopholes. In short, I am crowd funding the idea and rewarding supporters with 'tokens' (colored coins) that give them exclusive access to the infrastructure & services and many perks/rewards for helping me realise this. These are not securities, do not currently represent a stake in a company, nor do they guarantee profit-sharing or a return. I want to provide legal value to the coins, I want to build the systems around them and promote the technology, and I want to license and regulate myself to grow this project to full potential for everyone involved for many years - I do not want to end up in trouble with the law. So there are things I can and am happy to promise, and there are things I will not guarantee. The legalities section of the whitepaper heavily expands on this paragraph with a lot of referenced material, but please ask away.


Transparency/'PoD'
Two weeks ago I disclosed everything financially related so far with NOBL and my position - it can be read here. I am happy to provide further documentation to back up those details, as they can understandably be hard to believe for some. In regards to PoD, I voluntarily released all personal details for NOBL in January, including my LinkedIn, and Australian Business Number. The Transparency & Accountability section expands on these.

Questions/Trolling/'FUD' - Moderation
I have a policy of not considering anything unwarranted FUD until it becomes obvious trolling. I will be moderating this thread stronger than I did NOBL (where I removed only scam pools and large red text spam), but anyone (including the usual suspects) who would like to make a statement will be quoted and addressed in this ANN. I will also link any posts that people start related to this project and will answer Q's and discuss there. I would however like this thread cleaner than many and will be moderating clear trolling/attacks, but will be doing my best to answer all constructive criticism, explain concepts throughout the paper and respond to dissenting views.

                                                                                                                                                                                                                                                   
« Last Edit: January 01, 2015, 09:06:40 am by Rofo »
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pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #1 on: December 09, 2014, 03:36:57 pm »

Welcome, man.  You're one of the very few coin developers who I think is a real person. :p
I was one of the first 10 NOBL miners back when it was very first released, you've sure come a long way (and put up with an endless amount of bullshit from the two big coin cartels).
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #2 on: December 09, 2014, 08:23:37 pm »

Welcome, man.  You're one of the very few coin developers who I think is a real person. :p
I was one of the first 10 NOBL miners back when it was very first released, you've sure come a long way (and put up with an endless amount of bullshit from the two big coin cartels).

Hey pf cheers :) Those were the days! If only people knew how tough it is not playing along by their book..
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pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #3 on: December 09, 2014, 08:33:00 pm »

Hey pf cheers :) Those were the days! If only people knew how tough it is not playing along by their book..
Trust me man, I know. I used to build multipools for some of the people from the "blackcoin cartel" (remember the big players that got rich off of that scam?) until I got tired of their dog and pony show.  (think Cinni, CAIx, pretty much every coin from 6-8 monthes ago that had a fancy PDF whitepaper and offered messaging/privacy features, lol)
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whatnxt

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #4 on: December 10, 2014, 05:16:24 am »

If I understood then NOXT is going to be used as a currency for purchases in Australia.
It is going to conform to the laws of the country.

Its relation to nobel is that nobel is purchased and burnt using the NXT used to buy NOXT.

Beyond that, I don't get it.

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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #5 on: December 11, 2014, 12:42:52 am »

Hey pf cheers :) Those were the days! If only people knew how tough it is not playing along by their book..
Trust me man, I know. I used to build multipools for some of the people from the "blackcoin cartel" (remember the big players that got rich off of that scam?) until I got tired of their dog and pony show.  (think Cinni, CAIx, pretty much every coin from 6-8 monthes ago that had a fancy PDF whitepaper and offered messaging/privacy features, lol)

Oh I remember! Let's hope times change enough that those types of jobs stop going down so well.

If I understood then NOXT is going to be used as a currency for purchases in Australia.
It is going to conform to the laws of the country.

Its relation to nobel is that nobel is purchased and burnt using the NXT used to buy NOXT.

Beyond that, I don't get it.

It is my hopes NOXT represents a lot more than that and I'm ironing out the final papers so that we have 1.5-2 weeks of solid promo. with all the info. and things get a little clearer (the business plan helped). The relationship is slightly off though, 50% of NOXT can be bought with NOBL after the crowd fund and all this NOBL is publicly destroyed/burnt.
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cexylikepie

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #6 on: December 11, 2014, 12:58:05 am »

What are the 2 bug coin cartels??? O.o
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pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #7 on: December 11, 2014, 01:58:35 am »

What are the 2 bug coin cartels??? O.o
lol
rofo, i believe you pretty much wrote a whitepaper on exactly this at one point, did you not?
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cexylikepie

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #8 on: December 11, 2014, 02:30:43 am »

What are the 2 bug coin cartels??? O.o
lol
rofo, i believe you pretty much wrote a whitepaper on exactly this at one point, did you not?

 what are we talking about? O.o
« Last Edit: December 11, 2014, 02:33:38 am by cexylikepie »
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #9 on: December 11, 2014, 04:36:53 am »

That paper feels like elementary school stuff these days :)

Need something with a little more substance.

Cexy he's referring to the big pump and dump groups behind a majority of the coins.
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pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #10 on: December 11, 2014, 03:40:53 pm »

pump and dump groups Rofo, doesn't give it quite the pervasive nature that it really has.
The one cartel that I observed was one that profited huge from the initial blackcoin pump - i've always suspected they were involved in DRK but never got solid proof of that.
From there they ventured in Cinnicoin (which got them hooked up with that south african developer Rynomster - let me tell you this, i rue the day that I introduced that guy to them) and from there they really got crazy with their plans.
The big guy behind it all (veritasBC at one point, he has since either deleted or changed his bitcointalk name.  That was what he went by when I used to talk to him on IRC) owns most of XC, tons of BC, tons of every coin with "encrypted messaging and stealth addresses" (all of which was written by Rynomster for most of their coins).
BC's recent tanking was caused by the main backer for the cartel wanting Rynomster to incorporate some of the "messaging and stealth" features in BC and rat4 said no, so they had a huge split in the original blackcoin cartel and the main holder dumped his bags and tanked the whole coin. Same thing happened with XC and SDC (remember when XC initially cut their coin supply by like 80%? That was because they owned like 1/2 the coins at that point and needed to cut the coin supply so that they held a majority.)
Same thing with every coin that the shady XC "developer" signed off on the source code for (think CRYPT, XST, shit there's a whole bunch more), again, it was all done because the main cartel backer wanted him to help them pump other coins.

These guys own the developers, they have extremely good links with all of the exchanges, they are in-bed with some of the main "pool developers", and they have literally thousands of BTC.  (traditional pools, not multipools) and they used to farm out all of their multipool development (I think they might be exclusive with suchpool.pw now, which is also usually a fkn scam)
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #11 on: December 11, 2014, 08:53:10 pm »

I just said on IRC I love the NXT forums already :) I made a point of never going into names and details but I love how you just put it out there. I guess it's becoming too common knowledge these days anyway, hence the bickering, name changes and reforming of groups.
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pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #12 on: December 11, 2014, 10:00:30 pm »

Whereabouts do you hang out on IRC, rofo?
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #13 on: December 11, 2014, 10:58:47 pm »

Whereabouts do you hang out on IRC, rofo?

Two dozen coin/exchange chans but #noblecoin for discussion.
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kseistrup

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #14 on: December 12, 2014, 04:58:06 am »

Whereabouts do you hang out on IRC, rofo?

Two dozen coin/exchange chans but #noblecoin for discussion.

— on freenode

pf

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #15 on: December 12, 2014, 05:31:08 pm »

Interesting post:

http://www.reddit.com/r/blackcoin/comments/2p2e08/summary/

Quote
....
Worse than any blocktech offer or Veritas offer. Nothing can be as bad as knowing Bob and Gekko.
....
He is referring to same VeritasBC that I was talking about.
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Stonecolddead

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #16 on: December 12, 2014, 06:38:16 pm »


Hello pf, please feel free to join us on freenode IRC #Noblecoin :)

Those are some interesting talking points. I would be glad to discuss them in depth if you would like, maybe swap and verify some information.

Could you let us know what handle you go by on freenode? Thank you :)
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #17 on: December 15, 2014, 09:07:57 pm »

Paper updates today being rolled out - first part below, second part (6-10) this afternoon.

Thank you for your patience. This has been a lot of work, feedback and thought between multiple parties. There is still work, additions and proofreading to be done. I am committed to this project and do sometimes feel rushed (as well as underestimate time-frames and how much discussion/work I like to get into things beforehand), but I want information and a game-plan that will build a foundation for years. It will constantly evolve.

I do not expect everyone to read everything and that is perfectly understandable. This is information for those inclined for longer readings, and is more suited for the people I would like to work with and target outside of bitcointalk (alongside the business plan we are also writing up). Thank you again.

Noble: Corporate Colored Coins
Applying Blockchain Technology to Traditional Business Structures as an Experimental Step towards Distributed Autonomous Corporations (DACs)

1-5: Introduction, Distribution, Platform Agnosticism, Utility, Exclusivity
« Last Edit: December 15, 2014, 09:15:45 pm by Rofo »
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #18 on: December 16, 2014, 07:02:57 am »

Paper updates today being rolled out - first part below, second part (6-10) this afternoon.

Thank you for your patience. This has been a lot of work, feedback and thought between multiple parties. There is still work, additions and proofreading to be done. I am committed to this project and do sometimes feel rushed (as well as underestimate time-frames and how much discussion/work I like to get into things beforehand), but I want information and a game-plan that will build a foundation for years. It will constantly evolve.

I do not expect everyone to read everything and that is perfectly understandable. This is information for those inclined for longer readings, and is more suited for the people I would like to work with and target outside of bitcointalk (alongside the business plan we are also writing up). Thank you again.

Draft updated to include 1-8.

Noble: Corporate Colored Coins
Applying Blockchain Technology to Traditional Business Structures as an Experimental Step towards Distributed Autonomous Corporations (DACs)

1-8: Introduction, Distribution, Platform Agnosticism, Utility, Exclusivity, Incentive to Participate, Stability, Thought Leadership
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Rofo

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Re: [ANN][NOXT] - NobleNXT Proposal/Whitepaper - Noble's 1st Colored Coin
« Reply #19 on: January 01, 2015, 09:07:05 am »

Update

Adios! Just kidding.

Thanks for the patience and support. I'm still surprised at how much I learnt even after a year of how people want to do business behind the scenes with coins. :) Was quite insightful.

Some things:
- I will not be focusing on the remaining whitepaper until I get three pillars (see below) finalized - too much info. and not widely read. Also, the new Australian paper on BTC and legalities will allow me to rework and double check everything.
- Bear in mind we will have traders who did not want to buy during crowdfund trying to get in lower (history tells them to expect a dump, presumably from myself)
- We will also have traders who want to take some easy profit from NOBL>NOXT>BTC burn. You might have an opportunity to get some lower. However the majority of burners will not want out at this price. I know because I spent a month doing nothing but discussing and getting to better know personally a lot of people.

If you've noticed I've gone silent, I got very tired of trying to sell NOXT by having to promise pump targets, promise free money, give free coins, give pump group info. (assuming there was one), etc. rather than discuss the project itself. I have put my head down in the real world to deliver what is described below. I would just like to be a little personal and say NOXT also cost me my long-term partner (I'm human might be hard to believe sometimes, I worked too hard, failed her and it cost me). So once the 100BTC barrier was reached I had no need for more, didn't want to feel like a pushy dodgy salesman, and just wanted to get to real work and spend the next 12 months building something that makes up for it. What this means is a lower market cap and room for growth, I don't need any more BTC. If I haven't responded to PMs you should receive them shortly with how to burn, addresses, etc.

What I'm doing immediately and expect fully 'operational' this month:
Delivering what I'm calling the 'three early pillars' of this project
1. The registered Australian business providing consultancy and crypto services charged in NOXT, with an early introductory out to potential clients
2. Second-hand licensing and development allowing precious metals and diamond trade on the new revamped marketplace
3. Business development and marketing plan to present to real-world industry representatives, potential partners and investors

There will also be information coming about the NobleTrade platform in development, services, the gift card website and NoblePay.

Please allow me to get together the final raised and all the PMs I got about burning, and I will get in touch with everyone with addresses and we'll burn the NOBL to NOXT over the next few days.

Whatever happens to the price in the short-term as people hustle I'm only going to say this once. I care about the value of NOXT, but my focus this time is on delivering what is outlined, not posting assurances on daily-weekly price movements or defending accusations.

Happy NYE everyone. 2014 taught us a lot about crypto. and this is the first step to building both NOBL & NOXT.
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