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[ANN] [nXtGen Mining] The next generation of mining! singapore
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Author Topic: [ANN] [nXtGen Mining] The next generation of mining!  (Read 157505 times)

Stadtfeger

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1220 on: January 17, 2016, 07:04:05 pm »

where is the scamer??? are i´m alone with this scam asset?
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1221 on: April 19, 2016, 11:34:51 pm »


Its been a while since I posted in this forum. I have been working on a project this past year that has been a combination of experiments which took place starting in 2014 with Knights of the Satoshi Ltd.


Since then, I have experimented with launching assets on the NXT blockchain which was highly successful - more so then I ever expected. This led to a series of events that caused me to overextend myself.

As a result, I was forced to move quickly and limit the amount of mining assets we could sell due to hosting constraints.

After realizing the hosting limitations and having met someone earlier in the year at the April 2014 Bitcoin Expo, I jumped too quickly into a partnership to help push this individual's hosting business along - as well as help us achieve more capacity.

Unfortunately, this business relationship was one that did not succeed and cost me a lot of money and opportunity costs. Since, I have been extremely careful about partnering with anyone without first getting to know them to a greater extent and also establishing vested equity for any new partners.

This helps guarantee that they will continue being motivated, as they are only rewarded with equity by achieving specific milestones.

So far, I am still the only Director and Shareholder for Knights of the Satoshi Ltd., but have been building solid relationships over the past year with new developers and businesses.

One of the issues that came up during tax season last year was the issue of having a decentralized asset. Under Canadian law, businesses providing services to anyone outside of Canada are not required to charge sales tax. If I cannot prove where my customers are from, then I would be forced to pay the maximum sales tax in Canada which is 15% on all sales revenue.

This became a major issue that, unfortunately, many experts in the tax industry were just not prepared for. As governments are still trying to figure out Bitcoin and blockchain technology, we are tied to the current systems and regulations in place.

My only option was to shutdown the mining operation due to it becoming unprofitable. I did not want to do this, as it would upset a lot of people that put their faith in me from the start.

It would have been fairly easy for me to shutdown Knights of the Satoshi Ltd. and simply launch a new business. However, that's not who I am, nor what I'm about... and definitely not what I stand for.

I further would like to apologize for the silence. This situation has been hard for me, because I am not one to want to let people down. I also did not want to make any announcements too early, as I have pivoted numerous times in the past year and a half in terms of my business. I am now very confident in this new business platform that my team and I have built. 

I have numerous VC contacting me and forex traders from New York interested in the platform. One of them has been calling my mentor every week since discovering what I was developing.

I have learned a lot through this process and have now built a team of dedicated people, from which I plan to have help me manage the day-to-day communication and customer support.

I have two amazing developers that are extremely dependable, which allows me to focus on the business development instead of getting pulled in multiple directions at the same time.

I have also hired a graphic designer who is able to take a simple request and produce a piece of art IMO.

Lastly, I have hired a community manager who will help me manage all the forums and social media platforms.

What I have done, is now hired a group of people which are not direct equity partners but will have an opportunity as we grow to get vested equity - if they prove themselves. This allows me to more easily weed out individuals who are not performing and make sure that our clients and companies values come first.

What I am asking is that all current NXT Mining and ENRG Mining clients register on the new platform which will have a live mining dashboard and all your payouts will finally be automatic on a daily basis.

We will be switching all existing clients to BTC mining contracts. Once we have the majority of customers switch to the new new platform, the plan is to enable the exchange feature after the mining dashboard has been tested. The exchange feature will allow you to take your mined BTC and then choose which crypto you want to invest that BTC back into. Or you could also simply take your BTC out and use it as you like :) This gives clients the choice to buy at the price they want, instead of it being set by myself or auto payout script.

After things start working smoothly, we will then look at adding some new features as well as taking feedback from our userbase regarding which features they would like to see revamped or worked on first.  A possibility would be adding a feature that automatically converts BTC mining revenue to whichever crypto you would like (e.g. an Auto Buy feature). 

We are currently in talks with a number of payment processors and will be enabling fiat deposits and withdrawals for fully verified customers.

Mining/exchange customers using only crypto will not be required to verify at this time and into the foreseeable future. Canada has still not regulated Bitcoin, which helps us to allow our customers to remain private if they choose.

I will be sending out a NXT message to all shareholders once I have downloaded the whole blockchain.

For those following this post please register at:

https://www.cryptobroker.io

Once registered, please send your mining assets along with a NXT message to the asset issuers account with the email address you used to register.

Once I see the confirmation through a NXT message, I will be crediting your mining balance on Crypto Broker.

The plan is to launch the beta by the end of the week. Currently, user registration does work and we are trying to get active users on the site to help beta test the mining payouts.

I will also be posting the updated spreadsheets for the mining payouts for the past year. This was a rough undertaking, but since the BTC price has recovered (and I found a cheap reliable host which I contract the hosting to and have no direct affiliation with), we are doing alright with it. I have also recently upgraded all hardware to be ready for the reward halving.

Having built a solid team around me over the past year, I am very confident that I will be able to deliver a much better customer experience this time around.

Thanks for everyone's patience with all of this, and for being an early adopter in the startup.

Everyone will be receiving VIP status, which will allow us in the future to offer you some added benefits :)
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Abraxas 147

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1222 on: April 20, 2016, 12:17:09 pm »

Welcome back! :-)
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1223 on: April 21, 2016, 08:15:16 am »

Thanks Abraxas 147

I feel very strong about this new project and the ability to scale well offering value added services to those in the space. The more utility the better. I'm also interested in leveraging blockchain assets for use in creating a transparent platform. This will require time and money and seeing the new features added to NXT make it a potential candidate which would allow issuance of a currency token. I always felt that although NXT had some amazing features it really needed to be implemented in a way that benefits the masses and not just us tech savy people.

The original idea from my memory was that NXT is not suppose to be a currency but a token which is used a lot like Ether is used as Gas for the Ethereum network. It comes down to building cool applications using the technology and protocols in order to inspire others to do the same.

We have so many options these days and I will be taking my time to implement some of the ideas I have in store for these "assets/tokens". As I found out the hard way our current governments are just not ready for this new wave of innovation and as a legally registered company I'm required to follow certain rules so I will do everything in my power to make sure we remain a viable business :)

Maybe down the road we won't have that problem as we start playing with the ideas of a DAO (Decentralized Autonomous Organization) which has no jurisdiction and is run in a truly democratic way. IMO I feel that DAO's will be loosely based on the CO-OP model and will grow from that.
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1224 on: April 21, 2016, 08:19:06 am »

Regarding the user registration, it was brought to my attention through our new support system that there was an error upon registration. Users received their email but were unable to properly verify it.

For anyone that had signed up and experienced this issue, you should be able to sign in and resend a working verification code now.

Those that haven't had a chance to sign up yet, you will have no problems as the code changes have been pushed.
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1225 on: April 21, 2016, 08:26:06 am »

Existing mining asset holders are asked to send their mining assets along with a message containing the email you used for registration on Crypto Broker.

You are able to encrypt the messages thus making it private to avoid spam issues.

Account Issuer: NXT-LQTE-D82C-VKU4-FEPFB

Any questions or problems I can address general issues here. For more specific issues please open a support ticket so that we can better manage and complete all support requests :)
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1226 on: April 21, 2016, 08:37:23 pm »

Anyone know how to turn off table trimming on the new NXT clients so that I can properly scan the blockchain for dividends? Seems when table trimming is enabled I'm unable to go back more then 1440 blocks.
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Abraxas 147

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1227 on: April 22, 2016, 07:28:25 am »

Hi Ryan,

you can address questions about the client here (Nxt support ticketsystem):

https://nxt.org/helpdesk/

There is also a new Nxt Slack with a lot of supportive people inside :-):

https://nxtchat.slack.com/

You can auto-join via this link:

https://nxtchat.herokuapp.com/

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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1228 on: April 24, 2016, 03:27:39 am »

Thank Abraxas 147,

I will try and join the Slack group this weekend. Sent a support ticket in already but will be trying to finalize calculations this weekend so will need to get some help :)

Just as an update, I have just sent out NXT messages to all current asset holders on the process to convert you mining assets. If anyone has any questions or wants clarification you can post here or open a support ticket at http://support.cryptobroker.io

We are working through finalizing the mining dashboard and testing wallet functionality. The hope is that next week will will begin testing the payout script. I will try to keep everyone posted as I get updates from our lead developer. With the wallet system we want to make sure things are secure and won't fully initialize auto withdrawals until then.

Thanks again for everyones early support,
Ryan Scott
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veter

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1229 on: April 24, 2016, 09:02:51 pm »

Welcome back Ryan! Great news, thank you! Looks like you've done really a lot of work.

I hope for the positive development and successful partnership. My assets have been transferred.

Good luck!  :)
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tompkr

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1230 on: April 25, 2016, 01:29:16 pm »

Will nxtgenkhs be credited to our crypto broker accounts or is that asset defunct?

FYI nxtgenghs has been credited - thank you!
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Pilot

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1231 on: April 25, 2016, 05:16:39 pm »

how long until stuff is credited? The web site just shows a bunch of blurred out images?
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1232 on: April 26, 2016, 07:28:03 pm »

I have been crediting user accounts in the backend, we are still undergoing some last minute testing. I will be trying to push the update that will show you your GH balance later today. I was also told yesterday that we have made some small calculation adjustments for the auto payout script which will be further tested today. Our concern is with redundancy and error handling. We want to make sure that we are verifying the payouts with more then one source of information. The last calculation missed one transaction for some reason and my team has been looking into it.

When you get down to the full transaction layer of Bitcoin you are actually dealing with a number of inputs and outputs which you need to filter through and essentially analyze to get the transactions you want. With mining we also have to check if the transaction came from a new block directly or from a pool which sends out a transaction. The difference being in the required confirmations, new coins need to wait 120 confirmations where as a regular Bitcoin transaction only requires 3-6 depending on the operators confidence level.

As you can see we have a number of things we are analyzing and I want to make sure we are checking it multiple times before we turn it on auto pilot completely. Once we do start beta testing payouts we are going to delay withdrawals for 24-48 hrs so that we can manually verify the script is running correctly. Hopefully we can start testing things this week but I don't want to rush things if they are not ready. We are hoping to do an official launch in June.

Another positive thing is that I have been applying for a number payment processors and today got the Interac Online approval or "cert" as they call it. This will allow us to integrate with the Canadian banking system and get people into Bitcoin and other cryptos much easier. For the official launch most of the Fiat side will take place in Canada until we can develop relationships with payment processors outside Canada. We will be able to accept international wire transfers as we have international banking relations but no payment processors currently.

We will also offer EFT like payments for Canadians allowing us to tap the business market and get merchants accepting crypto currency.

I'm like most of my generation and grew up in a world where we had everything at our finger tips, instant access to everything and anything. I'm learning to slow down and do things the right way and make sure that we test things properly. As most have seen in this space security is sometimes lacking, we will be concentrating on security and also teaching new users about crypto and offering them choice for options to securely store their coins in a decentralized way.

We have lots of ideas and plans but will be developing a roadmap and then asking our users what they want and prioritize based on that.

I will keep you posted on the changes which I hope to get pushed this week. Once I talk to our lead developer I will have a better idea on timing.
« Last Edit: April 26, 2016, 07:42:33 pm by GQM »
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1233 on: April 26, 2016, 07:38:23 pm »

Regarding nXtGenKHS it was posted over a year ago that they would be converted to GHS assets due to the demise of GAWMiners where we held some contracts and scrypt mining became unprofitable using the scrypt asics we had which couldn't be used for ETH mining.

I will be crediting those assets at a 1000:1 ratio and will backdated all mining payouts for KHS asset holders and make payouts using the GHS payout rate.

Going forward I will be testing certain technologies a little more thoroughly. Personally I really like the idea of Storj, MaidSafe and Lisk and have been beta testing some of these technologies as I see a real world demand for these resources.

Bitcoin mining has always been my bread and butter and I understand and believe in the technology, everyone refers to it as decentralized banking and now we are building services around the mining ;)

If we can create real world services around this technology and not just create speculative value then we might actually have something that increases in value in a much more stable way.
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Pilot

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1234 on: April 26, 2016, 08:05:36 pm »

Thanks for the update. I'm also not sure where I am supposed to put the BTC address that I want payouts to go to. Or are you paying out to the NXT address with superBTC?
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1235 on: April 27, 2016, 10:50:10 pm »

We have pushed the update and you should now be able to see your balance. If there is any problems or discrepancies please let me know as we are still in beta and testing everything.

Regarding the wallet system, you should be able to generate a new BTC address when you click on deposit. If you are not seeing this it could be that we need to update your user schema as we have been making small changes to the wallet system to make things more secure.

I'm still working on the reward calculations and will update everyone once I have more details. Calculations have been done up until Jan 2016 already but I was side tracked with Crypto Broker and had planned to launch this a lot sooner.

I did get a reply to my NXT support ticket which is awesome to see. Will try to find the time to look over everything this weekend and get the last couple months finalized.

This week has been busy with meetings and we have got the approval for Interac Online so will be working to integrate with this once the mining dashboard is done.

The mining payout script is currently running on a daily schedule and automatically calculating payouts. I will be running this in the backend over the next couple days to a week manually verifying everything. Once I feel comfortable with the system we will implement the auto payouts to customer accounts :)

Good things coming, I just don't want to promise any dates but rest assured my team and I will be working hard to deliver :)
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Abraxas 147

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1236 on: May 13, 2016, 03:33:50 pm »

Any update on tour progress with cryptobroker.io, in particular to the Auto payout function and the mining dashboard? I'm curious to see it :-).
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veter

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1237 on: May 16, 2016, 10:42:44 pm »

Hello Ryan, could you please tell me how many canadian dollars at cryptobroker.io with Level 1 well be allowed to be transacted per day? Thank you!
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Pilot

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1238 on: May 17, 2016, 02:20:30 pm »

Are you mining. I don't see a balance on my account at all? I assume the balance will accumulate in the BTC wallet on the web site?
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GQM

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Re: [ANN] [nXtGen Mining] The next generation of mining!
« Reply #1239 on: June 04, 2016, 08:02:56 pm »

For anyone that may have had trouble registering, we had switched mail providers and missed a setting. Some email was delivered properly well some reported bounced emails. I have fixed the issue now but if anyone is still having trouble open a support ticket at:

http://support.cryptobroker.io/

@Abraxas 147 & @Pilot currently we have a number of changes that we have been working on that haven't been pushed to the production environment.

We do have the auto payout script tested and working. We have switched to PPS mining pools to give a more consistent payout. There was a need to change the foundation of our app in order to make things more modular. When we push the new changes we will have to switch user balances around at the db level. This change will allow us to more easily manage the different contracts which we offer and will be our first live beta test of the auto payout script. At that time you will see your balance accumulate on a daily basis. We are also working to graph the payouts.

Our target is to have the beta fully operational is June 13.

Mining contract prices will also be changing soon along with the hosting fee due to new hardware becoming available. I will update you more on that towards the end of June.

We have also had some requests to setup a public mining pool again. I've had the idea for sometime and will be looking to explore the idea of creating a P2Pool gateway with PPS payouts. For now the focus will remain on the Crypto Broker platform. Implementing mining and exchange services.

I also have a candidate that I'm working with to potentially finish the monitoring/automation software for the miners I was working on a year ago. This would allow us to fully scale all aspects of the mining business allowing me to focus on new features and ideas.

Things like adding more crypto currencies to the Crypto Broker platform (NXT, ENRG) then enabling an auto exchange feature which allows miners to have control over their conversion process. Adding debit/visa cards to the platform, merchant tools. The list goes on :)

@veter currently we will require Level 2 verification for any fiat deposits/withdrawals. Limits will be set to $3k/day until a history is built which at that point we can raise the limit. Also in person verifications and accredited investors are able to get limit increases much faster depending on what level of verification they can provide.

A large part of my client base comes from Local Bitcoins and I want to offer the most efficient way for anyone to get Bitcoin. I have to be careful though because I have been shut down by 3 of 5 major banks in Canada. Which was the reason for developing a platform which covers all KYC/AML aspects even thought Canada doesn't technically require it for crypto currency.
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