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[ANN] NXTinspect - the first CryptoAudit service
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Author Topic: [ANN] NXTinspect - the first CryptoAudit service  (Read 38983 times)

chanc3r

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #140 on: October 09, 2014, 09:15:18 pm »

Are you guys prepared to be personally attacked every time an asset gets a less-than-favorable rating? Looks like it's something you're going to have to deal with.

Short answer is 'Yes' - think I said this earlier and we haven't gone public yet and I expect some of our first reports will be a little rough around the edges.

We will calmly and honestly respond to any polite reasonable questioning as we are attempting to do.

I don't think there is value in trying to harm anyones business, used properly I would hope our reports will help the market value an asset better and help the asset issuer identify how they can improve value for shareholders... It will take time to get our work to this level but I think we can get there based on the background of some of the team.
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m30188

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #141 on: October 09, 2014, 09:18:56 pm »

Thanks for the "bitcoinpaul" printshop. You are a joke.
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jl777

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #142 on: October 09, 2014, 09:23:20 pm »

ok, just seems strange to be even caring about the book value of a service company

the value of a service business is the people behind the service, not the book value.

so go ahead and put in your report this book value for the service business, I am sure it will be great comfort to your customers that you are inspecting the NXTinspect book value in great detail

James

Why would I do that? As I said I am not interested in repeating questions. We have since moved on to burn rate, which is a more interesting metric for a service company.

You are just going to have to get used to people asking basic financial questions. I'm sure NXTinspect will end up doing this too, right? When they try to value a company?
I am sure your keen interest in trying to make NXTinspect look like it is "double dipping" and has low book value has nothing to do with the fact that you are running a competitive business.

you are using fiat world zero sum attack tactics where there is no need for this. the fact that burn rate is actually a valid question for service companies is now diminished as everyone reading this thread knows you are just a competitor trying to make NXTinspect look bad. They have not implied any wrong doing by you and your IPO or the lack of crypto experience as a possible handicap to rating cryptos.

so before this gets ugly, I suggest you stay in your thread. let people decide who they want to trust with their investments and analysis of assets. I for one trust chanc3r, whale and jefdiesel. You are a newcomer and maybe in time you will gain people's trust, but doing this is a sure way to get people like me to never want to do business with you.

James

P.S. I would be very interested in how you would rate the largest IPO in NXT history. no, not SuperNET, NXTpoker! it seems they want to raise almost 10 times what SuperNET did all the while saying it is not overpriced. Wouldnt analyzing something 100x bigger than NXTinspect do a lot more for the community than this petty stuff you are doing?


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chanc3r

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #143 on: October 09, 2014, 09:25:13 pm »


See what you did? You have created a loophole where "This asset is represents the right to a share in the profits from the activities of NXTinspect," becomes meaningless. You had a profit making activity -- the sale of shares -- and you decided to take a cut before you paid this money out to shareholders. You are like the director in situation D; you said you are going to take 40% of the shares and then pay profits into shares. But now you are also taking money in the company account for yourselves.

These funds and shares were moved in the IPO phase and were agreed transfers as part of the startup.
From the following sale of 50k shares there have been no transfers to the 3 of us.
We will issue accounts, in due course, although like I say we will document all transfers from the issuing account anyway

I would rather pay profits from real income than pay earlier shareholders from the sale of shares to later shareholders - I don't want to be accused of running a ponzi scheme, this is often not the intent but its very easy in this anonymous world for people to accuse.

Regarding burn rate - the background burn rate will be as close to zero as I can get it by reusing the NXT infrastructure, partners who benefit from having the information and established free-to-customer channels.. our costs will be activity based for peoples time and those costs will be contingent in those activities bringing in revenue.

EDIT: I will have some minimal NXT transaction costs so the sooner those fees are lowered the better :)

if the venture  folds then any residual value in the accounts will be transferred to assets holders but failure is not our intention.
« Last Edit: October 09, 2014, 09:28:53 pm by chanc3r »
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printshop

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #144 on: October 09, 2014, 09:45:34 pm »

Thanks for the "bitcoinpaul" printshop. You are a joke.

I've been spammed with 22 bitcoinpauls over the last few days. It's kind of obvious who is doing it too. Do you have anything to say about that?

chanc3r

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #145 on: October 09, 2014, 09:47:55 pm »

Thanks for the "bitcoinpaul" printshop. You are a joke.

I've been spammed with 22 bitcoinpauls over the last few days. It's kind of obvious who is doing it too. Do you have anything to say about that?

Oh no you don't - take those questions into PMs - you are not spamming this thread with this argument developing.

EDIT: and as bitcoinpaul will tell you - no one give a f*ck about bitcoinpaul :D (see what i did there!)
« Last Edit: October 09, 2014, 09:57:53 pm by chanc3r »
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trollstocker

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #146 on: October 09, 2014, 09:59:23 pm »



P.S. I would be very interested in how you would rate the largest IPO in NXT history. no, not SuperNET, NXTpoker! it seems they want to raise almost 10 times what SuperNET did all the while saying it is not overpriced. Wouldnt analyzing something 100x bigger than NXTinspect do a lot more for the community than this petty stuff you are doing?
[/quote

it seems they want to raise almost 10 times what SuperNET did all the while saying it is not overpriced.

Did I miss out on something huge James?
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printshop

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #147 on: October 09, 2014, 09:59:37 pm »

These funds and shares were moved in the IPO phase and were agreed transfers as part of the startup.
From the following sale of 50k shares there have been no transfers to the 3 of us.
We will issue accounts, in due course, although like I say we will document all transfers from the issuing account anyway

That's great, when will we be able to expect a financial report? I'm talking loosely, like, is this something coming in 2 weeks or in 3 months.

You seem to understand why I am asking these questions. I expect you to ask these questions for everyone you review, as well.

EDIT: I will have some minimal NXT transaction costs so the sooner those fees are lowered the better :)

if the venture  folds then any residual value in the accounts will be transferred to assets holders but failure is not our intention.

Yes I was thinking about that, if it ends up costing you 10 NXT to send out a report, that could add up but I guess it won't really be that much. Kind of an interesting way of doing things.

jl777

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #148 on: October 09, 2014, 11:03:36 pm »



P.S. I would be very interested in how you would rate the largest IPO in NXT history. no, not SuperNET, NXTpoker! it seems they want to raise almost 10 times what SuperNET did all the while saying it is not overpriced. Wouldnt analyzing something 100x bigger than NXTinspect do a lot more for the community than this petty stuff you are doing?
[/quote

it seems they want to raise almost 10 times what SuperNET did all the while saying it is not overpriced.

Did I miss out on something huge James?
well they have all these fancy pretty charts so it must be a fantastic thing :)

I am not in the business of providing investment analysis. I do however put my analysis into action via my investing (or not investing), so there are many that are following what I am doing (or not doing)
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pf

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #149 on: October 10, 2014, 12:51:20 am »

I've been spammed with 22 bitcoinpauls over the last few days.

Me too, but I haven't figured out by who.
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printshop

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #150 on: October 10, 2014, 04:19:29 pm »

What's going on with the NXTinspect board? I can't seem to go there anymore, is it locked?

Oh I see, changed the url from nxtracker to nxtinspect. Cool beans :)

jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #151 on: October 10, 2014, 05:44:24 pm »

What's going on with the NXTinspect board? I can't seem to go there anymore, is it locked?

Oh I see, changed the url from nxtracker to nxtinspect. Cool beans :)

Yes https://nxtforum.org/nxtinspect/ is the proper ULR. We had the mods set up the subforum early on, and then we realized someone else was using NXTtracker for an unrelated project, so to avoid confusion we switched.

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cobaltskky

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #152 on: October 10, 2014, 06:58:34 pm »

I've been spammed with 22 bitcoinpauls over the last few days.

Me too, but I haven't figured out by who.
Same here.  There might be a Paulbot on the loose! Lol
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printshop

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #153 on: October 20, 2014, 07:57:52 pm »

Did I miss an announcement? NXTinspect hasn't posted anything in 4 days, and their reviews haven't been updated at all since they were posted a week ago.

I thought there were five guys working on this? I'm hoping that KNS can share some kind of service agreement with NXTinspect but my request to work on a trust metrics system hasn't been answered in more than 7 days now.

Can anyone from NXTinspect comment on this? I guess I was expecting more information flow out of NXTinspect, it feels like suddenly you guys stopped posting anything. I see jef has been making a post every now and then, we should at least communicate over which companies we are reviewing so we can cover more ground collectively.

chanc3r

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #154 on: October 20, 2014, 08:10:38 pm »

Did I miss an announcement? NXTinspect hasn't posted anything in 4 days, and their reviews haven't been updated at all since they were posted a week ago.

I thought there were five guys working on this? I'm hoping that KNS can share some kind of service agreement with NXTinspect but my request to work on a trust metrics system hasn't been answered in more than 7 days now.

Can anyone from NXTinspect comment on this? I guess I was expecting more information flow out of NXTinspect, it feels like suddenly you guys stopped posting anything. I see jef has been making a post every now and then, we should at least communicate over which companies we are reviewing so we can cover more ground collectively.

I doubt you miss anything we do or don't do ;)

1. That was an initial set of reports to get some feedback, and we got plenty.
2. We are taking that on board and making our methods more transparent.

If you notice we have not posted much generally in the forum on anything because we have been busy.
We have not gone away and we have not stopped working on this.
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printshop

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #155 on: October 20, 2014, 09:35:34 pm »

Did I miss an announcement? NXTinspect hasn't posted anything in 4 days, and their reviews haven't been updated at all since they were posted a week ago.

I thought there were five guys working on this? I'm hoping that KNS can share some kind of service agreement with NXTinspect but my request to work on a trust metrics system hasn't been answered in more than 7 days now.

Can anyone from NXTinspect comment on this? I guess I was expecting more information flow out of NXTinspect, it feels like suddenly you guys stopped posting anything. I see jef has been making a post every now and then, we should at least communicate over which companies we are reviewing so we can cover more ground collectively.

I doubt you miss anything we do or don't do ;)

1. That was an initial set of reports to get some feedback, and we got plenty.
2. We are taking that on board and making our methods more transparent.

If you notice we have not posted much generally in the forum on anything because we have been busy.
We have not gone away and we have not stopped working on this.

Great, that's the answer I was hoping for. I've bought shares, personally, BTW. ;-) (and thanks for the compliment too!)

The factors I would really like to see as an investor are a prospectus or business plan, and I'd like to see shares represent ownership and control of the company. The profit shares idea is like non-controlling shares, and these are only barely legal even in the real world. Will there ever be a release of controlling shares or a move towards a standard "shares" model?
« Last Edit: October 20, 2014, 09:44:26 pm by printshop »
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crumb-bum

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #156 on: October 21, 2014, 12:52:01 am »

I'm wondering if you guys want to set up some sort of verification protocol for anonymous asset issuers. There will always be those who wish to preserve total anonymity. But I can imagine an asset owner who would be willing to provide proof of his qualifications, credentials, business record, etc. to nxtinspect on the condition that nxtinspect preserve his anonymity. Something like "Nxtinspect has seen sufficient demonstrations of the asset issuer's qualifications and past performance to give management a high rating" or whatever.

Do you see what I'm driving at?
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #157 on: October 21, 2014, 01:06:42 am »

I'm wondering if you guys want to set up some sort of verification protocol for anonymous asset issuers. There will always be those who wish to preserve total anonymity. But I can imagine an asset owner who would be willing to provide proof of his qualifications, credentials, business record, etc. to nxtinspect on the condition that nxtinspect preserve his anonymity. Something like "Nxtinspect has seen sufficient demonstrations of the asset issuer's qualifications and past performance to give management a high rating" or whatever.

Do you see what I'm driving at?

We are definitely working on that. While we would prefer to use a publicly verified, yet still private service like Ardeva,  our updated criteria puts personally providing us with ID and proof of residence above 100% online identity. We then extend that further after having direct video chats with the confirmed user.

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crumb-bum

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #158 on: October 21, 2014, 02:34:21 am »

I'm very happy to read that, Jefdisel.

While I have your attention, I want to ask a stupid question: I think I recall nxtinspect saying at some point that it would be possible to buy four in-depth reports for 1000 NXT. Is that deal available yet? Is it still in the works?

Thanks, and keep up the good work!
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jefdiesel

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Re: [ANN] NXTinspect - the first CryptoAudit service
« Reply #159 on: October 21, 2014, 03:17:25 am »

I'm very happy to read that, Jefdisel.

While I have your attention, I want to ask a stupid question: I think I recall nxtinspect saying at some point that it would be possible to buy four in-depth reports for 1000 NXT. Is that deal available yet? Is it still in the works?

Thanks, and keep up the good work!

Hey crumb, we started putting our reviews together and we realized that people wanted greater distinction and deeper review criteria, so we rebuilt our review process. ten important criteria, weighted and factored to work across the broad variety of assets, circumstances, and users.
We are building some really deep analyst tools, and with the help of 1.3.1 will be able to crunch numbers a lot more effectively.
So before we offer the data we have, we are running it back again in the new tools and getting it even better.

Once we are done this, later this week, we will be ready to release our subscription model as well
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