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[ANN] NXTinspect - the first CryptoAudit service
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Author Topic: [ANN] NXTinspect - the first CryptoAudit service  (Read 38761 times)

whatnxt

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #100 on: October 06, 2014, 07:17:43 pm »

A question which I have been considering for some time esp. in light of my own asset,

Are you prepared to become liable (by choice, or as a result of legal action) should you write a negative report that contains untrue statements?

I'm sure over the course of the next year you will write both positive and negative reports. But if it can be demonstrated that a negative report from you causes financial damage to a company in terms of lost investment (and this will become obvious over time) and you accidentally say something you shouldn't, you are likely to be sued. What contingency plans do you have in place to prevent that or in case that were to occur?

I'm worried about the same thing, personally, but I am asking this question as a private investor.

Hmm good question...
So the veracity / basis in fact of what we report has to be clear.
So 'scam' is a pejorative term which we will not use.
An analysis drawing a conclusion that something is worth 1 NXT when it is being sold at 10NXT is different and we will not tell you what to do - if you still want to buy at 10NXT because you disbelieve us that is up to you.

EDIT: Of course people can request a 'private' report which we can be more open in as this is private and specifically commissioned.
More to the point, are you prepared for the investor backlash when your rating makes 90% of their NXT disappear. There seems to be a lot of investors heavily invested in a few assets (just my impression but you only need one). To someone who looses their shirt, it does not matter how valid the rating is, .
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chanc3r

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #101 on: October 06, 2014, 08:17:18 pm »


Quote
Hmm good question...
So the veracity / basis in fact of what we report has to be clear.
So 'scam' is a pejorative term which we will not use.
An analysis drawing a conclusion that something is worth 1 NXT when it is being sold at 10NXT is different and we will not tell you what to do - if you still want to buy at 10NXT because you disbelieve us that is up to you.

EDIT: Of course people can request a 'private' report which we can be more open in as this is private and specifically commissioned.
More to the point, are you prepared for the investor backlash when your rating makes 90% of their NXT disappear. There seems to be a lot of investors heavily invested in a few assets (just my impression but you only need one). To someone who looses their shirt, it does not matter how valid the rating is, .

Yep... facts are facts, a bad asset will smell at some point, better get them cleaned out while the asset issuers are around to answer for themselves...

this risk is one reason why three long standing members of the community have taken this on.

looking at the positive  side it also means that assets will get reports on their fundamentals and people will invest on the basis of fact not personality....

seen the reports on Sia tonight - I hold 20 (doesn't sound much but they are several thousand NXT each), know how to evaluate - looks like a sell - currently the only buy is at 800 - what to do?

there are lots of cases in this volatile market some objective analysis is needed, not just the extreme cases and if we can keep up maybe the extreme cases can be avoided...
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #102 on: October 06, 2014, 08:29:36 pm »

Are you selling that mining report only to the mining asset issuer? If not and anyone is able to purchase then expect it to be for sell on the digital goods store at half price within an hour. Sure you can delete the sell post, but if only one person purchased then that is still a loss except for the two that just received the report at half price.

Also with this setup you are pretty much limiting mining assets from posting about being the best asset to invest in without completely making your report price worthless. I will not blame them in the least in wanting to brag about their asset ROI to investors. Selling only to the mining asset issuer will alleviate the problem of the bragging but then you just increased the FUD that will be spreading in the mining threads. Since all anyone can do is take the word of the owner because there is no way to prove them wrong.

Best bet. Just make the information open on a website and gain ad revenue. Later when everyone lives by that report charge new mining assets a small fee to also be valuated.

hey Kitchentable, sorry if my reply was confusing. We are aiming to have paying subscribers for our general asset reports. The subscribers will get advance notice of our general asset reports. These general reports will then be posted publicly soon after. This will enable the professionals to benefit from our information, but make it pointless for others to leak or resell, since we will give it away free.

In our IPO we mentioned "Individual Consultations/Research Work" This mining report is along that line. And it will not be ONLY for the Asset issuers, but rather anyone with an interest in Mining Assets.  We will do our best to break it down in a side by side manner.
The info is public. Look in the forums, and on the block chain, but there is a lot of noise. We're doing our best to compare apples to apples.
Asset Issuers may want to pay attention and correct the price differences between assets, and investors may wish to keep abreast of which is the best ROI, or best long term. There is no BEST, only best choice for each persons need.

This sort of report may not have a long life, so I imagine 4 weeks to start. By then the market could have found equilibrium and we'll go back to worrying about the Assets themselves. Or maybe not. Let's find out.
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #103 on: October 06, 2014, 08:36:44 pm »

A question which I have been considering for some time esp. in light of my own asset,

Are you prepared to become liable (by choice, or as a result of legal action) should you write a negative report that contains untrue statements?

I'm sure over the course of the next year you will write both positive and negative reports. But if it can be demonstrated that a negative report from you causes financial damage to a company in terms of lost investment (and this will become obvious over time) and you accidentally say something you shouldn't, you are likely to be sued. What contingency plans do you have in place to prevent that or in case that were to occur?

I'm worried about the same thing, personally, but I am asking this question as a private investor.

Hmm good question...
So the veracity / basis in fact of what we report has to be clear.
So 'scam' is a pejorative term which we will not use.
An analysis drawing a conclusion that something is worth 1 NXT when it is being sold at 10NXT is different and we will not tell you what to do - if you still want to buy at 10NXT because you disbelieve us that is up to you.

EDIT: Of course people can request a 'private' report which we can be more open in as this is private and specifically commissioned.
More to the point, are you prepared for the investor backlash when your rating makes 90% of their NXT disappear. There seems to be a lot of investors heavily invested in a few assets (just my impression but you only need one). To someone who looses their shirt, it does not matter how valid the rating is, .

I wrote to this point earlier, but lost it on my phone..

We don't blame the Doctor who lances the boil for it's growth in the first place.
If we see a stink, should we say "oh but a lot of people invested in that.." or should we say "the ROI is 60 weeks" "the share price is 5x comparable Assets", "The Issuer is inconsistent and changes terms too often"

Popped bubbles bring level ground and will get us ever closer to legitimacy.
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whatnxt

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #104 on: October 06, 2014, 08:43:24 pm »

A question which I have been considering for some time esp. in light of my own asset,

Are you prepared to become liable (by choice, or as a result of legal action) should you write a negative report that contains untrue statements?

I'm sure over the course of the next year you will write both positive and negative reports. But if it can be demonstrated that a negative report from you causes financial damage to a company in terms of lost investment (and this will become obvious over time) and you accidentally say something you shouldn't, you are likely to be sued. What contingency plans do you have in place to prevent that or in case that were to occur?

I'm worried about the same thing, personally, but I am asking this question as a private investor.

Hmm good question...
So the veracity / basis in fact of what we report has to be clear.
So 'scam' is a pejorative term which we will not use.
An analysis drawing a conclusion that something is worth 1 NXT when it is being sold at 10NXT is different and we will not tell you what to do - if you still want to buy at 10NXT because you disbelieve us that is up to you.

EDIT: Of course people can request a 'private' report which we can be more open in as this is private and specifically commissioned.
More to the point, are you prepared for the investor backlash when your rating makes 90% of their NXT disappear. There seems to be a lot of investors heavily invested in a few assets (just my impression but you only need one). To someone who looses their shirt, it does not matter how valid the rating is, .

I wrote to this point earlier, but lost it on my phone..

We don't blame the Doctor who lances the boil for it's growth in the first place.
If we see a stink, should we say "oh but a lot of people invested in that.." or should we say "the ROI is 60 weeks" "the share price is 5x comparable Assets", "The Issuer is inconsistent and changes terms too often"

Popped bubbles bring level ground and will get us ever closer to legitimacy.
I take it then, that you are prepared.
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #105 on: October 06, 2014, 08:57:15 pm »


I take it then, that you are prepared.

i don't want to piss off investors, but if the assets are bubbled its not our doing.
as well, whats better, pissing off 10-20 investors in a wild west with no oversight, or waiting until there are 100-200-1000 investors that all post NXT IS A SCAM and never come back..

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #106 on: October 06, 2014, 08:58:07 pm »

Imagine if someone had done for this for TXTCOINSNOW

How much trouble could have been saved?
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Sebastien256

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #107 on: October 06, 2014, 09:07:02 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #108 on: October 06, 2014, 09:10:23 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.

you mean ROI in the case of dividend assets?
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Sebastien256

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #109 on: October 06, 2014, 09:11:42 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.

you mean ROI in the case of dividend assets?

Well, (total Nxt dividend paid)/(total Nxt raised) in case of dividend assets.
« Last Edit: October 06, 2014, 09:14:43 pm by Sebastien256 »
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #110 on: October 06, 2014, 09:13:04 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.
you mean ROI in the case of dividend assets?

Well, (total Nxt dividend paid)/(total Nxt raised) in case of dividend assets, yes.

Yeah i guess as an investor when you have been paid out more than you invested, you are usually in the clear ;)
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Sebastien256

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #111 on: October 06, 2014, 09:15:16 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.
you mean ROI in the case of dividend assets?

Well, (total Nxt dividend paid)/(total Nxt raised) in case of dividend assets, yes.

Yeah i guess as an investor when you have been paid out more than you invested, you are usually in the clear ;)

Yes, but the ratio tell a bit more than that:
This is a metric for trust.
In the limit of 0 for too long time, the didivend asset is a scam. As it get near 1, you can have more confidence toward the assset. When it worth more than 1, then the asset is very thrustable. If it is largely over 1, then that is very very secure asset.

EDIT: and it is not a metric for the individual investor money invested, but of the overall asset issuer trust.
« Last Edit: October 06, 2014, 09:21:39 pm by Sebastien256 »
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Top8

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #112 on: October 06, 2014, 10:51:39 pm »

A question which I have been considering for some time esp. in light of my own asset,
Are you prepared to become liable (by choice, or as a result of legal action) should you write a negative report that contains untrue statements?
I'm sure over the course of the next year you will write both positive and negative reports. But if it can be demonstrated that a negative report from you causes financial damage to a company in terms of lost investment (and this will become obvious over time) and you accidentally say something you shouldn't, you are likely to be sued. What contingency plans do you have in place to prevent that or in case that were to occur?
I'm worried about the same thing, personally, but I am asking this question as a private investor.

Hmm good question...
So the veracity / basis in fact of what we report has to be clear.
So 'scam' is a pejorative term which we will not use.
An analysis drawing a conclusion that something is worth 1 NXT when it is being sold at 10NXT is different and we will not tell you what to do - if you still want to buy at 10NXT because you disbelieve us that is up to you.

EDIT: Of course people can request a 'private' report which we can be more open in as this is private and specifically commissioned.

Jumping at the ship here, i think that it will be difficult to find any "lie" on NXTi reports. What people should expect is a no frills, facts only analysis. When possible scenarios are discussed, it will be conveniently signaled.
Is in NXTinspect interest to be cristal clear about the facts provided. If at some point some data has not been verified, it will include source or reason for the lack of verification.

NXTi is expected to never take sides, so, as a NBA referee, will take some flak from dissenters, but ultimately people will understand that is not a good business for NXTi to present opinions instead facts.
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Top8

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #113 on: October 06, 2014, 11:03:30 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.
you mean ROI in the case of dividend assets?

Well, (total Nxt dividend paid)/(total Nxt raised) in case of dividend assets, yes.

Yeah i guess as an investor when you have been paid out more than you invested, you are usually in the clear ;)

Yes, but the ratio tell a bit more than that:
This is a metric for trust.
In the limit of 0 for too long time, the didivend asset is a scam. As it get near 1, you can have more confidence toward the assset. When it worth more than 1, then the asset is very thrustable. If it is largely over 1, then that is very very secure asset.

EDIT: and it is not a metric for the individual investor money invested, but of the overall asset issuer trust.

I strongly disagree here. Remember the old adage: "Past performances don't guarantee future results".
Of course a good past behaviour is valued, but specifically that kind of trait will be looked by any Ponzi wanabee.
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Sebastien256

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #114 on: October 06, 2014, 11:10:48 pm »

Anyone who thinks all their AE purchases are rock solid needs to be more diligent.

Or course, none of my AE purchases are rock solid. I always have doubt until more is paided that raised. I can't really trust 100% someone without this. So the ratio (total paid)/(total raised) is very important in my opinion.
you mean ROI in the case of dividend assets?

Well, (total Nxt dividend paid)/(total Nxt raised) in case of dividend assets, yes.

Yeah i guess as an investor when you have been paid out more than you invested, you are usually in the clear ;)

Yes, but the ratio tell a bit more than that:
This is a metric for trust.
In the limit of 0 for too long time, the didivend asset is a scam. As it get near 1, you can have more confidence toward the assset. When it worth more than 1, then the asset is very thrustable. If it is largely over 1, then that is very very secure asset.

EDIT: and it is not a metric for the individual investor money invested, but of the overall asset issuer trust.

I strongly disagree here. Remember the old adage: "Past performances don't guarantee future results".
Of course a good past behaviour is valued, but specifically that kind of trait will be looked by any Ponzi wanabee.

A ponze scheme cannot have a metric above 1 as it work only with influx of money, no outflux. A ponzi scheme would lead toward a metric of 0 for every aditional layer of people in the pyramid.

EDIT: And again, I would say that it is a measure of trust, not of "future results".
EDIT2: In fact, the more I think of it, it could be a nice metric to measure and try to identify ponzi scheme.
EDIT3: I think that without knowing it, a scammer of a dividend asset try to "minimize the previous metric" at the same time as "maximize the total Nxt raised" in order to get as much as money before he run away.
« Last Edit: October 06, 2014, 11:29:26 pm by Sebastien256 »
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Top8

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #115 on: October 06, 2014, 11:45:17 pm »

But what if the scammer runs a successful operation in a scale of 100,000 NXT, then "expands" on a spin off for a second location of his super successful chocolate banana stand, raises 1 Million NXT, pays off successfully interests and dividends, and then makes a expansion to Europe, opening 12 venues, only this time is fake, raises a 50 million NXT and flees away to Maracaibo?

Your metric is valid (and very smart) for one single operation. What i meant is that the fact of someone paying on time is not a guarantee for future results. Eventually the power of true identity and physical centers will show off. I know people loves anonymity, but at the end of the day everyone wants to know the neighbor.  ;)
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Sebastien256

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #116 on: October 07, 2014, 12:03:43 am »

But what if the scammer runs a successful operation in a scale of 100,000 NXT, then "expands" on a spin off for a second location of his super successful chocolate banana stand, raises 1 Million NXT, pays off successfully interests and dividends, and then makes a expansion to Europe, opening 12 venues, only this time is fake, raises a 50 million NXT and flees away to Maracaibo?

Your metric is valid (and very smart) for one single operation. What i meant is that the fact of someone paying on time is not a guarantee for future results. Eventually the power of true identity and physical centers will show off. I know people loves anonymity, but at the end of the day everyone wants to know the neighbor.  ;)

Well, in the case you describe, if we could measure the metric for the whole operation, is would be lower than 1, and if we take only the last operation, the metric would be very low as it would be the case of the lower end of the pyramid.

However, you are right that from an external reviewer, we can only apply the metric on each operations separely. We have no way of knowing all operations that a scammer would run.

EDIT: I guess I don't have the skill for doing a ponzi, but I would not say the same from you :P, that is a very nice scammer tactic that you showed us here  :D.
« Last Edit: October 07, 2014, 07:26:27 am by Sebastien256 »
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RAlex

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #117 on: October 07, 2014, 12:24:51 am »

How can we subscribe? Thanks
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #118 on: October 07, 2014, 01:55:14 am »

How can we subscribe? Thanks

hey Ralex,, We're still working on the tech. It will be on the DGS as soon as we have it up.
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whale

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #119 on: October 07, 2014, 03:47:29 am »

ANNOUNCEMENT: We're now on poloniex!

https://www.poloniex.com/exchange/btc_nxti
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