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Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner singapore
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Author Topic: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner  (Read 27941 times)

rickyjames

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Hooray, we're on GoCoin.  Major step forward for NXT!!!

https://www.gocoin.com/

Great work, John and Cointropolis team!


NOW LET'S LOOK AT THE BIGGER PICTURE.


GoCoin (GC) is effectively a (small) subsidiary of Bitcoin Shop (BS).  GoCoin has $2M in capitalization, $1.5M of which was provided by BS and one other investor in March less than 90 days ago.  BS has a market capitalization of $24M (how much its total outstanding stock shares are worth).  So don't get confused on who is the dog and who is the tail.  NXT may have a deal with GC, but GC is by far the newest kid on the block even more than NXT itself is and I believe GC will do exactly what BS tells them to do with NXT.

GC is registered in Singapore with an American branch address.  This is almost certainly to avoid American financial laws regarding money transfers.  I'm not saying this is good or bad, just that it is a fact.  This is one of the main differences between GC and say Coinbase, which is an American company based in California that can accept fiat money freely and directly from people because it has filed all the required American paperwork and has the required American licenses to be an official "money service".

http://www.crunchbase.com/organization/gocoin

BS is a registered company in the United States with stock shares listed on the "Over-The-Market" or OTC Exchange, which is where small American companies get their start before they get big enough to trade shares on the much bigger and more important NASDAQ or New York Stock Exchange (NYSE).  In America OTC is known as "the penny market" or "the pink sheets" from the pre-computer days when all their listings were published on pink paper.  Here's the OTC data page for BS:

http://www.otcmarkets.com/stock/BTCS/quote

And their data at Morningstar:

http://quotes.morningstar.com/stock/s?t=BTCS&region=usa&culture=en-US

Of particular interest is the financial disclosure Form 10-Q that BS must file under American law every 90 days.  You can download it as a PDF from the OTC page above, or here it is an online webpage:

http://ih.advfn.com/p.php?pid=nmona&article=62227170

Bottom line is that in the three months Jan-March 2014, BS posted a $1.4M quarterly loss on sales revenues of only $11,374 and had a infusion of $2.8M in new capital from issuing more public stock and "Private Placement Units".  Now, numbers like this don't mean disaster is looming, because any startup has initial cash flow challenges as they ramp up.  But the fact is that GC and BS are not established, healthy organizations.  Just like NXT, they are startups that must become healthy fast or die.  They have chosen to take on NXT ONLY because they believe NXT can help them.

Here's how the BS stock is doing.  Check the "Zoom:YTD" at some point to get the complete picture.

https://www.google.com/finance?q=OTCMKTS%3ABTCS&ei=nz6YU_DOH9LeqAHwgIGABQ

SO bottom line (IMHO), a deal between NXT and GC is really a deal between NXT and BS.  Don't forget this.

I end with three points. 

1. We should be very happy that GC and BS see growing value in NXT and we should all work together and try to all go to da moon together.

2. Whatever deal exists between GC and NXT has been put on paper somewhere, and ALL of those papers should be put online ASAP as PDFs for the entire NXT community to see.

3. NXT should not stop attempting to develop relationships with other financial and commerce groups beyond GC and BS.  We should, after the party for this victory is over today, keep trying to be picked up by others like Coinbase starting tomorrow. 
« Last Edit: June 17, 2014, 04:41:21 pm by rickyjames »
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Johnson

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Re: Discussion On GoCoin / Bitcoin Shop
« Reply #1 on: June 11, 2014, 12:58:35 pm »

Hooray, we're on GoCoin.  Major step forward for NXT!!!

Great work, John and Cointropolis team!


NOW LET'S LOOK AT THE BIGGER PICTURE.


GoCoin (GC) is effectively a (small) subsidiary of Bitcoin Shop (BS).  GoCoin has $2M in capitalization, $1.5M of which was provided by BS and one other investor in March less than 90 days ago.  BS has a market capitalization of $24M (how much its total outstanding stock shares are worth).  So don't get confused on who is the dog and who is the tail.  NXT may have a deal with GC, but GC is by far the newest kid on the block even more than NXT itself is and will do exactly what BS tells them to do with NXT.

GC is registered in Singapore with an American branch address.  This is almost certainly to avoid American financial laws regarding money transfers.  I'm not saying this is good or bad, just that it is a fact.  This is one of the main differences between GC and say Coinbase, which is an American company based in California that can accept fiat money freely and directly from people because it has filed all the required American paperwork and has the required American licenses to be an official "money service".

http://www.crunchbase.com/organization/gocoin

BS is a registered company in the United States with stock shares listed on the "Over-The-Market" or OTC Exchange, which is where small American companies get their start before they get big enough to trade shares on the much bigger and more important NASDAQ or New York Stock Exchange (NYSE).  In America OTC is known as "the penny market" or "the pink sheets" from the pre-computer days when all their listings were published on pink paper.  Here's the OTC data page for BS:

http://www.otcmarkets.com/stock/BTCS/quote

Of particular interest is the financial disclosure Form 10-Q that BS must file under American law every 90 days.  You can download it as a PDF from the OTC page above, or here it is an online webpage:

http://ih.advfn.com/p.php?pid=nmona&article=62227170

Bottom line is that in the three months Jan-March 2014, BS posted a $1.4M quarterly loss on sales revenues of only $11,374 and had a infusion of $2.8M in new capital from issuing more public stock and "Private Placement Units".  Now, numbers like this don't mean disaster is looming, because any startup has initial cash flow challenges as they ramp up.  But the fact is that GC and BS are not established, healthy organizations.  Just like NXT, they are startups that must become healthy fast or die.  They have chosen to take on NXT ONLY because they believe NXT can help them.

Here's how the BS stock is doing.  Check the "Zoom:YTD" at some point to get the complete picture.

https://www.google.com/finance?q=OTCMKTS%3ABTCS&ei=nz6YU_DOH9LeqAHwgIGABQ

SO bottom line, a deal between NXT and GC is really a deal between NXT and BS.  Don't forget this.

I end with three points. 

1. We should be very happy that GC and BS see growing value in NXT and we should all work together and try to all go to da moon together.

2. Whatever deal exists between GC and NXT has been put on paper somewhere, and ALL of those papers should be put online ASAP as PDFs for the entire NXT community to see.

3. NXT should not stop attempting to develop relationships with other financial and commerce groups beyond GC and BS.  We should, after the party for this victory is over today, keep trying to be picked up by others like Coinbase starting tomorrow.


Wow, very interesting post RickyJames.

Thank you so much for explaining. 

From an investor standpoint Bitcoinshop looks like a disaster though, no? I mean your shares get diluted terribly with every new cash injection. And they seem to be very far from breaking even.

I wouldn't invest in this. What hope is there that they will succeed? 
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Mexxer

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Re: Discussion On GoCoin / Bitcoin Shop
« Reply #2 on: June 11, 2014, 01:00:38 pm »

ecommerce sites are rarely profitable in the beginning. What matters is that their projected revenue is increasing and losses are decreasing over time.
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rickyjames

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Re: Discussion On GoCoin / Bitcoin Shop
« Reply #3 on: June 11, 2014, 01:04:46 pm »


Wow, very interesting post RickyJames.

Thank you so much for explaining. 

From an investor standpoint Bitcoinshop looks like a disaster though, no? I mean your shares get diluted terribly with every new cash injection. And they seem to be very far from breaking even.

I wouldn't invest in this. What hope is there that they will succeed?

You said it, not me.

There's always hope.
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Mexxer

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #4 on: June 11, 2014, 01:08:54 pm »

AFAIK GoCoin is not a subsidiary of Bitcoin Shop.

The articles I found only say that BS made an investment in GoCoin. That's something very different!

So no ... Nxt didn't make a deal with BS.
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crimi

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #5 on: June 11, 2014, 01:13:05 pm »

Wow, very interesting post RickyJames.

Thank you so much for explaining. 

From an investor standpoint Bitcoinshop looks like a disaster though, no? I mean your shares get diluted terribly with every new cash injection. And they seem to be very far from breaking even.

I wouldn't invest in this. What hope is there that they will succeed? 

Amazon.com is the best example. The stockmarket hated them in the beginning for that strategy.

The model, popularly called "Get Big Fast" (a.k.a. "Land Grab"), requires you to raise a lot of capital, and work as quickly as possible to get big fast without concern for profitability.

A lot of known bitcoin companys doing this!
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #6 on: June 11, 2014, 01:15:04 pm »

AFAIK GoCoin is not a subsidiary of Bitcoin Shop.

The articles I found only say that BS made an investment in GoCoin. That's something very different!

So no ... Nxt didn't make a deal with BS.

I agree that apparently the NXT deal was made with GC.  But there is no getting around that if BC paid GC around $1.5M (75% of their capitalization!) less than 90 days ago, that GC is going to do what BS says.

Then there's this, from less than two weeks ago:

Bitcoin Shop CEO Charles Allen Appointed to GoCoin Advisory Board

http://online.wsj.com/article/PR-CO-20140528-907297.html
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Mexxer

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #7 on: June 11, 2014, 01:17:43 pm »

AFAIK GoCoin is not a subsidiary of Bitcoin Shop.

The articles I found only say that BS made an investment in GoCoin. That's something very different!

So no ... Nxt didn't make a deal with BS.

I agree that apparently the NXT deal was made with GC.  But there is no getting around that if BC paid GC around $1.5M (75% of their capitalization!) less than 90 days ago, that GC is going to do what BS says.

Then there's this, from less than two weeks ago:

Bitcoin Shop CEO Charles Allen Appointed to GoCoin Advisory Board

http://online.wsj.com/article/PR-CO-20140528-907297.html

No... first of all you don't know how much percentage of the company they got from that 1,5 million and what GoCoins valuation is. Investors often join an advisory board when investing in a company. This is totally normal in the startup world. This doesn't mean that they will do what BS says.
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #8 on: June 11, 2014, 01:46:34 pm »

No... first of all you don't know how much percentage of the company they got from that 1,5 million and what GoCoins valuation is. Investors often join an advisory board when investing in a company. This is totally normal in the startup world. This doesn't mean that they will do what BS says.

What you say is true.  I have no idea what the relationship is between GS and BS, and whatever I say is my own personal speculations.
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #9 on: June 11, 2014, 03:37:59 pm »


I emailed GoCoin last week inquiring about switching from Coinbase to GoCoin for my ecommerce firearms store.  Everything they said had me convinced to switch until they told me it was a $500 daily minimum to withdrawal.  Coinbase will let you withdrawal any amount at any time.  Once GoCoin gets rid of this sticking point, I'll switch over.  Some weeks/days it is no problem to have $500 in sales, others can be difficult.  I survived the 2011 MT GOX hack when they stole everyones bitcoins and drove the price back down to 1 cent .  Since that day I will not leave any amount of money on an exchange, no matter how small it is.

Good to know and get out in the open.  I'm crossposting this in the GoCoin / Bitcoin Shop thread.

Hey, you missed a good chance to plug your online store!  What's the URL?  I'm always interested in looking at new toys I can't afford...
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cobaltskky

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #10 on: June 11, 2014, 04:46:46 pm »

Awesomeawesomeawesome!  I'd like to see how GoCoin plans to grow their business over the next six months.  I'm not familiar with Bitcoin Shop, but if they have a good foundation of programmers and expertise, they will lend some of that to get GoCoin full-featured.  It would be in their best interest, since they dumped a bunch of cash into them to make sure that they succeed.  Definitely a big win.  I wonder what it will do to the marketcap in the next couple weeks? :}
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samson

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #11 on: June 11, 2014, 05:54:03 pm »


I emailed GoCoin last week inquiring about switching from Coinbase to GoCoin for my ecommerce firearms store.  Everything they said had me convinced to switch until they told me it was a $500 daily minimum to withdrawal.  Coinbase will let you withdrawal any amount at any time.  Once GoCoin gets rid of this sticking point, I'll switch over.  Some weeks/days it is no problem to have $500 in sales, others can be difficult.  I survived the 2011 MT GOX hack when they stole everyones bitcoins and drove the price back down to 1 cent .  Since that day I will not leave any amount of money on an exchange, no matter how small it is.

Good to know and get out in the open.  I'm crossposting this in the GoCoin / Bitcoin Shop thread.

Hey, you missed a good chance to plug your online store!  What's the URL?  I'm always interested in looking at new toys I can't afford...

They did say that from the time I withdrawal  to the time it is deposited in my account would be 2-3 business days so they match Coinbase in that aspect.  If they get rid of the daily minimum to withdrawal I would switch in a heartbeat.  They appear to be the same as Coinbase in every aspect except for that.  I assume as they grow and their liquidity gets better they will be able drop the minimum.  Our store is www.ampofirearms.com
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #12 on: June 12, 2014, 11:45:59 am »

I've been doing some more research / reading on GoCoin and Bitcoin Shop. 

Here's a must-view slide presentation that GoCoin presented on May 12.  Several of their earlier presentations are listed in the right-hand column of this link. 

http://www.slideshare.net/SteveBeauregard/gocoin-digital-currency-payments-presentation

Of particular interest in the May 14 presentation is slide 14:



There's also several interesting recent stock analyst reports from May 19, May 28 and June 5 on Bitcoin Shop, which is the major investor in GoCoin:

http://www.hotstocked.com/article/84302/bitcoin-shop-inc-otcmkts-btcs-reveals.html

http://www.hotstocked.com/article/85182/bitcoin-shop-inc-otcmkts-btcs-continues.html

http://www.hotstocked.com/article/85762/bitcoin-shop-inc-otcmkts-btcs-rises-on.html

Highlights from the latest June 5 article:

*****************************************************************

"Bitcoin Shop Inc (OTCMKTS:BTCS, BTCS message board) disappointed quite a lot of investors when it plummeted from over $5 per share to less than $0.10 in just over three and a half months.

Many people got a bit carried away with the hype around the bitcoin business and the fact that BTCS received plenty of publicity during the first few months. Unfortunately, some of them are probably looking at some pretty painful losses at the moment. The question on their mind is: "Can BTCS get a second chance?".

Apparently, this is happening right now. Yesterday, the ticker logged a dollar volume of around $2 million and gained a respectable 18%. It's now sitting at just under $0.21 which is a whopping 128% above the 52-week low registered last week.

...one thing you should definitely bear in mind before making your final investment decision [on BTCS] and while you're contemplating the options, you might also want to read through the latest financial statement. It covers the first quarter of 2014 and it contains the following figures:

•cash: $1.4 million
•current assets: $1.5 million
•current liabilities: $178 thousand
•quarterly revenues: $11 thousand
•quarterly net loss: $1.4 million

The balance sheet certainly doesn't look as bad as the ones presented by other penny stock companies, but even so, investors were expecting much more, especially in terms of revenues.

And while we're on the subject of financial reports, we would like to draw your attention to the 2013 10-K. If you open it and have a really good look through it, you'll see that back in 2010, the company issued a $400 thousand convertible promissory note. In January, when BTCS was in the process of taking up the new business plan, they decided to retire the note and as a result, the creditors received 400,000 Series B Preferred shares.

Each and every one of the preferred shares can be turned into 100 common ones which means that if the creditors decide to convert their stock and then let it loose on the open market, they could be in for quite a profit. Apparently, the conversion part of the plan is being taken care of as we speak.

During Q1, 134,194 preferred shares were turned into 13,149,400 common ones. As you might have calculated already, back on March 31, there were around 26 million common shares waiting to be issued as a conversion of preferred stock. We reckon that you should definitely consider them and the risk that they bring before putting any money on the line."

*****************************************************************************

Translation by rickyjames:  The original pre-IPO investors in Bitcoin Shop created an emergency parachute for themselves with the issuing of the Series B stock shares in case the common stock tanked.  That parachute is over three-quarters deployed.
« Last Edit: June 12, 2014, 12:19:33 pm by rickyjames »
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Johnson

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« Last Edit: June 12, 2014, 12:36:08 pm by Johnson »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #15 on: June 12, 2014, 03:32:13 pm »

I've been doing some more research / reading on GoCoin and Bitcoin Shop. 

Here's a must-view slide presentation that GoCoin presented on May 12.  Several of their earlier presentations are listed in the right-hand column of this link. 

http://www.slideshare.net/SteveBeauregard/gocoin-digital-currency-payments-presentation

Of particular interest in the May 14 presentation is slide 14:



There's also several interesting recent stock analyst reports from May 19, May 28 and June 5 on Bitcoin Shop, which is the major investor in GoCoin:

http://www.hotstocked.com/article/84302/bitcoin-shop-inc-otcmkts-btcs-reveals.html

http://www.hotstocked.com/article/85182/bitcoin-shop-inc-otcmkts-btcs-continues.html

http://www.hotstocked.com/article/85762/bitcoin-shop-inc-otcmkts-btcs-rises-on.html

Highlights from the latest June 5 article:

*****************************************************************

"Bitcoin Shop Inc (OTCMKTS:BTCS, BTCS message board) disappointed quite a lot of investors when it plummeted from over $5 per share to less than $0.10 in just over three and a half months.

Many people got a bit carried away with the hype around the bitcoin business and the fact that BTCS received plenty of publicity during the first few months. Unfortunately, some of them are probably looking at some pretty painful losses at the moment. The question on their mind is: "Can BTCS get a second chance?".

Apparently, this is happening right now. Yesterday, the ticker logged a dollar volume of around $2 million and gained a respectable 18%. It's now sitting at just under $0.21 which is a whopping 128% above the 52-week low registered last week.

...one thing you should definitely bear in mind before making your final investment decision [on BTCS] and while you're contemplating the options, you might also want to read through the latest financial statement. It covers the first quarter of 2014 and it contains the following figures:

•cash: $1.4 million
•current assets: $1.5 million
•current liabilities: $178 thousand
•quarterly revenues: $11 thousand
•quarterly net loss: $1.4 million

The balance sheet certainly doesn't look as bad as the ones presented by other penny stock companies, but even so, investors were expecting much more, especially in terms of revenues.

And while we're on the subject of financial reports, we would like to draw your attention to the 2013 10-K. If you open it and have a really good look through it, you'll see that back in 2010, the company issued a $400 thousand convertible promissory note. In January, when BTCS was in the process of taking up the new business plan, they decided to retire the note and as a result, the creditors received 400,000 Series B Preferred shares.

Each and every one of the preferred shares can be turned into 100 common ones which means that if the creditors decide to convert their stock and then let it loose on the open market, they could be in for quite a profit. Apparently, the conversion part of the plan is being taken care of as we speak.

During Q1, 134,194 preferred shares were turned into 13,149,400 common ones. As you might have calculated already, back on March 31, there were around 26 million common shares waiting to be issued as a conversion of preferred stock. We reckon that you should definitely consider them and the risk that they bring before putting any money on the line."

*****************************************************************************

Translation by rickyjames:  The original pre-IPO investors in Bitcoin Shop created an emergency parachute for themselves with the issuing of the Series B stock shares in case the common stock tanked.  That parachute is over three-quarters deployed.

With all due respect RickJames, this thread seems more like a venue for your speculation regarding GoCoin and I can't for the life of me understand how this speculation benefits NXT.

Should we sit around and pontificate on the financial health and investment structure of GoCoin or should we spread the words out the business so that we can help them grow and support NXT?

It seems like you get a little carried away with your "investigations" and that your comments divulge a little too much into self grandification with your online self identity as an information finder.

The bottom line is NXT is not a corporation. The power of NXT is the same power of Bitcoin - a mass community involved in organic trial and error and organic evolution of ideas and strategies.

Worrying about things outside our control - ie GoCoins operating strategy - is a waste of time IMO.

To point - I suggest you offer more specific solutions instead of stirring up questions and speculations.
« Last Edit: June 12, 2014, 03:35:42 pm by Windjc »
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Johnson

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #16 on: June 12, 2014, 03:51:57 pm »


With all due respect RickJames, this thread seems more like a venue for your speculation regarding GoCoin and I can't for the life of me understand how this speculation benefits NXT.

Should we sit around and pontificate on the financial health and investment structure of GoCoin or should we spread the words out the business so that we can help them grow and support NXT?

It seems like you get a little carried away with your "investigations" and that your comments divulge a little too much into self grandification with your online self identity as an information finder.

 ::)

I, for one, find this very interesting information.

This is quality research, getting it for free is very generous.

Thank you for sharing Ricky.  :-*
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Johnson

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« Last Edit: June 12, 2014, 03:55:43 pm by Johnson »
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #18 on: June 12, 2014, 03:58:33 pm »


With all due respect RickJames, this thread seems more like a venue for your speculation regarding GoCoin and I can't for the life of me understand how this speculation benefits NXT.

Should we sit around and pontificate on the financial health and investment structure of GoCoin or should we spread the words out the business so that we can help them grow and support NXT?

It seems like you get a little carried away with your "investigations" and that your comments divulge a little too much into self grandification with your online self identity as an information finder.

The bottom line is NXT is not a corporation. The power of NXT is the same power of Bitcoin - a mass community involved in organic trial and error and organic evolution of ideas and strategies.

Worrying about things outside our control - ie GoCoins operating strategy - is a waste of time IMO.

To point - I suggest you offer more specific solutions instead of stirring up questions and speculations.

All valid points and noted.   
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #19 on: June 12, 2014, 04:10:20 pm »

In the vein of reporting positive news of interest about GoCoin, they processed the altcoin purchase of a $90,000 Tesla SP85 automobile:

http://www.marketwired.com/press-release/auto-dealership-accepts-litecoin-for-tesla-purchase-1896253.htm
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msin

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #20 on: June 12, 2014, 04:11:51 pm »


With all due respect RickJames, this thread seems more like a venue for your speculation regarding GoCoin and I can't for the life of me understand how this speculation benefits NXT.

Should we sit around and pontificate on the financial health and investment structure of GoCoin or should we spread the words out the business so that we can help them grow and support NXT?

It seems like you get a little carried away with your "investigations" and that your comments divulge a little too much into self grandification with your online self identity as an information finder.

The bottom line is NXT is not a corporation. The power of NXT is the same power of Bitcoin - a mass community involved in organic trial and error and organic evolution of ideas and strategies.

Worrying about things outside our control - ie GoCoins operating strategy - is a waste of time IMO.

To point - I suggest you offer more specific solutions instead of stirring up questions and speculations.

All valid points and noted.

Agreed, focusing on detailed financials of GoCoin seems irrelevant (and makes the posts difficult to read).  Every tech company in existence operated at a net loss for many quarters if not years while in growth stage.  If people knew the burn rate of a typical VC funded startup, it would make your eyes bleed.  75% of companies that went public over the past six months weren’t profitable.  Let's focus on the relationship, how it will help adoption of Nxt and what we as a community can do to help.
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NxtMinnow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #21 on: June 12, 2014, 04:35:25 pm »

 Hi Nxt community,
Vetting of NXT corporate partners should happen before announcements of deals with the Nxt community. Rickyjames is doing the best he can to perform due diligence research after the ink has dried between Nxt Cointropolis and GoCoin.

Seems NXT has a celebrity co-founder partner in Brock Pierce, who is co-founder of GoCoin with Steve Beauregard. The question is not how can NXT help GoCoin, but rather how can GoCoin help NXT?

Brock Pierce attends and speaks at Bitcoin conferences, invests in KnCminer Asia, GoCoin, ExpressCoin, and sits on the Board of the Bitcoin Foundation. I expect to hear Brock Pierce and Steve Beauregard promoting their role as a payment processor for NXT.



With all due respect RickJames, this thread seems more like a venue for your speculation regarding GoCoin and I can't for the life of me understand how this speculation benefits NXT.

Should we sit around and pontificate on the financial health and investment structure of GoCoin or should we spread the words out the business so that we can help them grow and support NXT?

It seems like you get a little carried away with your "investigations" and that your comments divulge a little too much into self grandification with your online self identity as an information finder.

The bottom line is NXT is not a corporation. The power of NXT is the same power of Bitcoin - a mass community involved in organic trial and error and organic evolution of ideas and strategies.

Worrying about things outside our control - ie GoCoins operating strategy - is a waste of time IMO.

To point - I suggest you offer more specific solutions instead of stirring up questions and speculations.

All valid points and noted.

Agreed, focusing on detailed financials of GoCoin seems irrelevant (and makes the posts difficult to read).  Every tech company in existence operated at a net loss for many quarters if not years while in growth stage.  If people knew the burn rate of a typical VC funded startup, it would make your eyes bleed.  75% of companies that went public over the past six months weren’t profitable.  Let's focus on the relationship, how it will help adoption of Nxt and what we as a community can do to help.
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Mexxer

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #22 on: June 12, 2014, 04:47:33 pm »

Hi Nxt community,
Vetting of NXT corporate partners should happen before announcements of deals with the Nxt community. Rickyjames is doing the best he can to perform due diligence research after the ink has dried between Nxt Cointropolis and GoCoin.

Seems NXT has a celebrity co-founder partner in Brock Pierce, who is co-founder of GoCoin with Steve Beauregard. The question is not how can NXT help GoCoin, but rather how can GoCoin help NXT?

Brock Pierce attends and speaks at Bitcoin conferences, invests in KnCminer Asia, GoCoin, ExpressCoin, and sits on the Board of the Bitcoin Foundation. I expect to hear Brock Pierce and Steve Beauregard promoting their role as a payment processor for NXT.

The ink between Nxt and GoCoin didn't dry because there never was any...

Again, Nxt ist not a company and there was no contract. And we should not start acting all cocky because we have a payment processor now. I can understand in the light of the awesome news recently that one can get carried away pretty quickly.
But let's not forget that this is a far bigger deal for us than it is for GoCoin and they don't owe us anything! Besides GoCoin call themselves "currency agnostic" which means that they won't start praising one currency over the other. This is not part of their business model.

Of course this will also benefit GoCoin because they will get more customers in the future. But let's get down to earth again please.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #23 on: June 12, 2014, 04:51:05 pm »

Hi Nxt community,
Vetting of NXT corporate partners should happen before announcements of deals with the Nxt community. Rickyjames is doing the best he can to perform due diligence research after the ink has dried between Nxt Cointropolis and GoCoin.

Seems NXT has a celebrity co-founder partner in Brock Pierce, who is co-founder of GoCoin with Steve Beauregard. The question is not how can NXT help GoCoin, but rather how can GoCoin help NXT?

Brock Pierce attends and speaks at Bitcoin conferences, invests in KnCminer Asia, GoCoin, ExpressCoin, and sits on the Board of the Bitcoin Foundation. I expect to hear Brock Pierce and Steve Beauregard promoting their role as a payment processor for NXT.

Yes, but we are not exclusive partners with these guys, they accept several cryptos and we will continue to be adopted by more payment processors.  I appreciate RJ's thoroughness and I read all his posts because he's one of the more intelligent people here, but I don't think we should have requirements on vetting anyone based on their willingness to accept Nxt.  Personally I think this news is great and I appreciate all the work done to make this happen.  We should now focus on more partnerships, that is where our efforts are best spent.
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NxtMinnow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #24 on: June 12, 2014, 05:13:55 pm »

 We all know the payment processor agreement is not exclusive.
Is NXT listed on GoCoin website alongside Litecoin and Dogecoin?
Is GoCoin communicating to its clients through tweets, etc. that they have added NXT as accepted cryptocurrency?

Great work at the PayExpo everyone! And I agree, full steam ahead with the AE, MGW, and AT; exchanges and payment processors should come to NXT and not be sought out by NXT. Case in point: Mintpal Exchanqe. Lets not do that again. Vetting of partners should preclude that type of thing from happening to the NXT community.

Keep leveraging contacts (legitimate ones)!

NXT stands on its own in many regards. Have a good day everyone and keep up the hard work. Be critical; ask questions.

Hi Nxt community,
Vetting of NXT corporate partners should happen before announcements of deals with the Nxt community. Rickyjames is doing the best he can to perform due diligence research after the ink has dried between Nxt Cointropolis and GoCoin.

Seems NXT has a celebrity co-founder partner in Brock Pierce, who is co-founder of GoCoin with Steve Beauregard. The question is not how can NXT help GoCoin, but rather how can GoCoin help NXT?

Brock Pierce attends and speaks at Bitcoin conferences, invests in KnCminer Asia, GoCoin, ExpressCoin, and sits on the Board of the Bitcoin Foundation. I expect to hear Brock Pierce and Steve Beauregard promoting their role as a payment processor for NXT.

Yes, but we are not exclusive partners with these guys, they accept several cryptos and we will continue to be adopted by more payment processors.  I appreciate RJ's thoroughness and I read all his posts because he's one of the more intelligent people here, but I don't think we should have requirements on vetting anyone based on their willingness to accept Nxt.  Personally I think this news is great and I appreciate all the work done to make this happen.  We should now focus on more partnerships, that is where our efforts are best spent.
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Mexxer

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #25 on: June 12, 2014, 05:20:16 pm »

Of course they don't have it on their website yet. It was just announced yesterday. They haven't even integrated Nxt completely into their system yet as far as I know.

What I do know is that they have a whole marketing plan for the acceptance of Nxt and we will probably see alot more over the coming weeks.

Give it time. Rome wasn't built in a day.
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #26 on: June 12, 2014, 05:28:49 pm »

Let me be clear on where I stand. 

I think it is GREAT that GoCoin has picked as a supported cryptocurrency NXT and I hope we both go to da moon.  I agree that the best course of action is to enthusiastically support anybody that wants to help and utilize NXT in their operations.

At the same time, an overseas altcurrency money handler suddenly wiped out over a half-billion dollars of coin holder investments a bit more than 90 days ago, and they're still going thru the ashes to figure out what the hell happened - Mt Gox.   Another key altcoin guy is wearing a house arrest ankle bracelet facing hard time for a completely different fraud - Charlie Shrem. 

I acknowledge a weakness for sensational slanting and wording sometimes in what I post, which I will try to tone down.  But these are crazy times and altcoin investors CANNOT be too careful.  The couple of posts I've made so far were intended to be due diligence shared with the NXT community, and not cheap shots aimed at undermining or souring a good thing.

My apologies if they came off that way. 

« Last Edit: June 12, 2014, 05:37:54 pm by rickyjames »
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Windjc

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #27 on: June 12, 2014, 05:30:49 pm »

Let me be clear on where I stand. 

I think it is GREAT that GoCoin has picked as a supported cryptocurrency NXT and I hope we both go to da moon.  I agree that the best course of action is to enthusiastically support anybody that wants to help and utilize NXT in their operations.

At the same time, an altcurrency money handler suddenly wiped out over a half-billion dollars of coin holder investments a bit more than 90 days ago, and they're still going thru the ashes to figure out what the hell happened - Mt Gox.   Another guy is wearing a house arrest ankle bracelet facing hard time for a completely different fraud - Charlie Shrem. 

I acknowledge a weakness for sensational slanting and wording sometimes in what I post, which I will try to tone down.  But these are crazy times and altcoin investors CANNOT be too careful.  The couple of posts I've made so far were intended to be due diligence shared with the NXT community, and not cheap shots aimed at undermining or souring a good thing.

My apologies if they came off that way.

Fair enough. Thank you.
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ThomasVeil

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #28 on: June 12, 2014, 07:31:15 pm »


But let's not forget that this is a far bigger deal for us than it is for GoCoin and they don't owe us anything! Besides GoCoin call themselves "currency agnostic" which means that they won't start praising one currency over the other. This is not part of their business model.

I'm not so sure about that. Nxt is the bigger entity here. And likely the driver if this turns out a success.
Secondly, GoCoin called it a partnership on the event, so there should be some more to it than just adding a NXT-button. This matters for both - and a coordinated effort can have a big impact.

Just please: Don't ever let them do promovideos for NXT *cringe*. :D


Great work at the PayExpo everyone! And I agree, full steam ahead with the AE, MGW, and AT; exchanges and payment processors should come to NXT and not be sought out by NXT. Case in point: Mintpal Exchanqe. Lets not do that again. Vetting of partners should preclude that type of thing from happening to the NXT community.

What are you refering to? The latest effort there? Is Mintpal finally working on this?
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msin

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #29 on: June 12, 2014, 07:53:52 pm »

We all know the payment processor agreement is not exclusive.
Is NXT listed on GoCoin website alongside Litecoin and Dogecoin?
Is GoCoin communicating to its clients through tweets, etc. that they have added NXT as accepted cryptocurrency?

Great work at the PayExpo everyone! And I agree, full steam ahead with the AE, MGW, and AT; exchanges and payment processors should come to NXT and not be sought out by NXT. Case in point: Mintpal Exchanqe. Lets not do that again. Vetting of partners should preclude that type of thing from happening to the NXT community.

Keep leveraging contacts (legitimate ones)!

NXT stands on its own in many regards. Have a good day everyone and keep up the hard work. Be critical; ask questions.

I get your points but I'd rather we use the word "Support" than "Vetting"  We want to encourage anyone and everyone to use and implement Nxt.
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NxtMinnow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #30 on: June 12, 2014, 08:35:25 pm »

Hi,
Where is the Twitter announcement of this NXT partnership with GoCoin? Steve Beauregard? No, he is retweeting about Jon Matonis @ PayExpo. Brock Pierce? No, he is blasting out all kinds of bitcoin related tweets and announcing relaunch of Cashintocoins as Expresscoins. GoCoin.com Twitter account? No reference to NXT there? Coordinated campaign? GoCoin needs to get their NXT ducks in a row if the NXT community is to be asked to promote GoCoin. Is GoCoin ready for NXT? Can we test an account (just 1) to make sure the integration is ready before we go blasting our message to the ends of the Earth?

The NXT community got scammed by Mintpal Exchanqe (with a "q" in place of "g") for 1 BTC. Lets not get burned again by failing to adequately perform due diligence prior to making payment and partnership agreements.

But let's not forget that this is a far bigger deal for us than it is for GoCoin and they don't owe us anything! Besides GoCoin call themselves "currency agnostic" which means that they won't start praising one currency over the other. This is not part of their business model.

I'm not so sure about that. Nxt is the bigger entity here. And likely the driver if this turns out a success.
Secondly, GoCoin called it a partnership on the event, so there should be some more to it than just adding a NXT-button. This matters for both - and a coordinated effort can have a big impact.

Just please: Don't ever let them do promovideos for NXT *cringe*. :D


Great work at the PayExpo everyone! And I agree, full steam ahead with the AE, MGW, and AT; exchanges and payment processors should come to NXT and not be sought out by NXT. Case in point: Mintpal Exchanqe. Lets not do that again. Vetting of partners should preclude that type of thing from happening to the NXT community.

What are you refering to? The latest effort there? Is Mintpal finally working on this?
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farl4bit

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #31 on: June 12, 2014, 08:49:19 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D
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ThomasVeil

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #32 on: June 12, 2014, 09:49:38 pm »

Where is the Twitter announcement of this NXT partnership with GoCoin? Steve Beauregard? No, he is retweeting about Jon Matonis @ PayExpo. Brock Pierce? No, he is blasting out all kinds of bitcoin related tweets and announcing relaunch of Cashintocoins as Expresscoins. GoCoin.com Twitter account? No reference to NXT there? Coordinated campaign? GoCoin needs to get their NXT ducks in a row if the NXT community is to be asked to promote GoCoin. Is GoCoin ready for NXT? Can we test an account (just 1) to make sure the integration is ready before we go blasting our message to the ends of the Earth?

Fully agree. This is a missed marketing chance.
I think some terms of this partnership should have been laid out. Even if it's not a contract... I mean, else it's not a partnership really.

Quote
The NXT community got scammed by Mintpal Exchanqe (with a "q" in place of "g") for 1 BTC. Lets not get burned again by failing to adequately perform due diligence prior to making payment and partnership agreements.

Oh my, missed that discussion back then. Sad story - good lesson: Triple check, and communicate more details.
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #33 on: June 13, 2014, 01:38:35 pm »

;D ;D ;D

first NXT <> USD exchange platform..

https://bter.com/trade/nxt_usd

Sigh.  Here's the fine print.

Bter will handle USD/NXT transfers via EgoPay?  Uh-oh.

*******************************************

From https://www.egopay.com/news :

14/02/2014 - U.S. accounts about to be closed

Due to the current United States laws, all EgoPay accounts that belong to U.S. Citizens/Residents/U.S. Companies will be locked on the 28th of March. You can still implement your operations the same as before until 14th of March. Please note, that after 14th of March you will not be able to receive any funds and will only have an option to send or withdraw your funds.

Please manage your payments and withdraws in time.

***********************************************

See, this is why we want Cryptsy to do NXT/USD, no matter how grumpy you are about them.  Cryptsy is a US company based in Florida.  They are trying to go thru official US State / Federal channels and get the all of the paperwork and licenses to be a registered money services business.  I cannot overstate how important this is.  All of the secondary foreign payout companies like EgoPay (and, I fear, GoCoin) are going to be on the wrong side of the PATRIOT Act and unable to process USD from American citizens or businesses.

It's great that Bter now has NXT/USD, but there is still a way to go before we have open exchange with fiat.

Here's a question for John / Cointropolis to ask GoCoin:  Legally, how are they different from Egopay in this situation?  And if they ARE different, then here's a GOLDEN OPPORTUNITY for GoCoin:  replace / supplement EgoPay at Bter.

What happens next on just this one situation is going to tell us worlds about just how much GoCoin can boost NXT.
« Last Edit: June 13, 2014, 03:10:34 pm by rickyjames »
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Ezravdb

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #34 on: June 13, 2014, 01:56:49 pm »

You mean EgoPay and GoCoin lol
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #35 on: June 13, 2014, 03:11:35 pm »

You mean EgoPay and GoCoin lol
Sigh.  Yep.  Thanks.
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Johnson

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #36 on: June 14, 2014, 01:45:02 am »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...
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cobaltskky

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #37 on: June 15, 2014, 05:29:20 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...

GUYS!  I can read what you type about me!!!! lol
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NxtMinnow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #38 on: June 15, 2014, 05:46:21 pm »

Reposting.

Questions for John and Cointropolis;

How do you plan to rectify the lack of communication between Cointropolis and NXT community? When chanc3r has to publicly state that he is not seeking a portion of the "Donations for PayExpo" Cointropolis is seeking, red flags appear to current and future investors in Cointropolis AE offering Virtual Token Ticker CNTROPOLIS.

Thank you chanc3r for taking the time from your other business at PayExpo to create NXT social media exposure. Your social media actions > Cointropolis/GoCoin/Beauregard/Pierce social media actions regarding #NXT #GoCoin.

What we are witnessing is a form of a "Network Fork" within the NXT community. NXT Marketing Committee declined to support the $30,000 for PayExpo, and then a group of private NXT donors and the NXT Community Fund paid for the PayExpo AGAINST Nxt community consensus.

That being said; the Cointropolis team appeared to do a good job representing NXT. Thank you for your hard work, every member of the team that attended. However; deals are being done behind closed doors and this lack of visibility and accountability leads to serious questions about the intents of the people involved in these deals.

For example; on the same day that Brock Pierce' Santa Cruz Bitropolis based ExpressCoin launches, hailing itself as the "new bitpay or Coinbase", GoCoin "announces" on stage ONLY at the PayExpo that GoCoin is accepting NXT as a supported cryptocurrency. There is a literal dearth (no references whatsoever) by GoCoin, Steve Beauregard, or Brock Pierce on ANY Social Media Channels that this "partnership, as claimed by Cointropolis" even exists.

Cointropolis; please post any and all written agreements between Cointropolis and GoCoin immediately on this forum.  Under what business structure is Cointropolis operating? LLC? C Corporation? No corporate structure? Where is Cointropolis incorporated and under what legal authority do they claim to have made the "agreement" with GoCoin?

What efforts and progress towards integration of NXT into the GoCoin payment processor are currently underway? Which Nxt developers have been approached to assist GoCoin with the NXT integration process?

GoCoin and Bitcoinshop appear to be bleeding VC cash at a rapid and unsustainable rate. What guarantee does the NXT community have that GoCoin doesn't go bankrupt taking millions of NXT with it? ExpressCoin seems to be the new exchange dujour of the Bitropolis crowd, with GoCoin ignored by the Bitropolis crowd completely. These circumstances, along with close review of the financials rickjames posted are enough to raise more red flags about this entire situation.

The Nxt community was prevented from performing adequate Due Diligence on the GoCoin deal due to the lack of proper and timely disclosure by the Cointropolis team. Blindly hyping a poorly defined and executed deal while failing to perform adequate due diligence is a surefire method to ending up with a divided community.

I have plenty more questions, but for now I would like some REAL answers from Cointropolis. Thanks.
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2Kool4Skewl

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #39 on: June 15, 2014, 06:13:16 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...

GUYS!  I can read what you type about me!!!! lol

This is a forum with four girls, including you, and a lot of lonely guys.  Please bear with us.

Edit: They might be creepers.  B careful.
« Last Edit: June 15, 2014, 06:15:37 pm by 2Kool4Skewl »
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #40 on: June 15, 2014, 10:48:27 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...

GUYS!  I can read what you type about me!!!! lol

This is a forum with four girls, including you, and a lot of lonely guys.  Please bear with us.

Edit: They might be creepers.  B careful.
There's THREE other women here besides Skky?  I only know of two.  And to think I call myself a amateur detective. 
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jl777

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #41 on: June 15, 2014, 10:52:07 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...

GUYS!  I can read what you type about me!!!! lol

This is a forum with four girls, including you, and a lot of lonely guys.  Please bear with us.

Edit: They might be creepers.  B careful.
There's THREE other women here besides Skky?  I only know of two.  And to think I call myself a amateur detective.
did you forget to look at the details in my profile
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #42 on: June 15, 2014, 11:00:23 pm »


Funny but did hurt also.
We moderators are a bit harch sometimes, sorry. But you're right about her, you know.  ;)
Maybe you can meet in the pub crawl for Nxt Dating.  :D

Thank you for your apology :) I forgive you :)

She's damn cute right?  ;D Would she be real? Seems unlikely...

GUYS!  I can read what you type about me!!!! lol

This is a forum with four girls, including you, and a lot of lonely guys.  Please bear with us.

Edit: They might be creepers.  B careful.
There's THREE other women here besides Skky?  I only know of two.  And to think I call myself a amateur detective.
did you forget to look at the details in my profile
Oh. My. God.

I am literally sitting here with my mouth open. 

I shoulda kept it shut two posts ago.  :o

You're not only a genius coder, you're a child prodigy!
« Last Edit: June 15, 2014, 11:04:28 pm by rickyjames »
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #43 on: June 15, 2014, 11:06:28 pm »

If ever there was a thread equally balanced between the sublime and the ridiculous, this is it.

"From the sublime to the ridiculous is but a step." - Napoleon I of France
« Last Edit: June 15, 2014, 11:11:14 pm by rickyjames »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #44 on: June 16, 2014, 03:26:24 am »

There's THREE other women here besides Skky?  I only know of two.  And to think I call myself a amateur detective.
did you forget to look at the details in my profile

If you include James, there are five women.  You're slipping Ricky.
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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #45 on: June 16, 2014, 09:39:46 am »

There's THREE other women here besides Skky?  I only know of two.  And to think I call myself a amateur detective.
did you forget to look at the details in my profile

If you include James, there are five women.  You're slipping Ricky.

Sigh.  I can't complain, can I, since I'm the one who threw my hat into this particular ring.   I remember from a long time ago seeing that James had listed his personal details as being female, but at the time I thought it was a joke because he had also listed his age as 14.  For the record I am cool with the LGBT community and wish them well, James in particular (?) if that has any relevance in this situation, which I am suddenly unsure about,  I've lost my bearings here and no longer quite know what to say.    Please pardon my sudden social disorientation and awkwardness.   Batman should slap me to keep me on topic.  I just wanted to talk about GoCoin.

As long as we're off topic and NOT talking abot GoCoin, I will note I have been doing a lot of slipping lately.  I was given a river canoeing trip for Father's Day, which I enjoyed very much.  My wife and I need to work on coordinating our paddling skills in the current, we flipped twice.  Luckily she had secured the tether on the watertight box with our cellphones after I had given up on figuring out its latch.  We had to pull out and dump the water on very steep muddy banks where believe me, there was  MUCH slipping and sliding.  And poison oak, a very big dose of which is kicking in on my arms and legs today.   Still, much fun.

https://www.facebook.com/HamptonCoveKayakAdventures
« Last Edit: June 16, 2014, 10:09:03 am by rickyjames »
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farl4bit

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #46 on: June 16, 2014, 09:45:30 am »


 ;)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #47 on: June 16, 2014, 09:49:59 am »

<Batman slapping me>
 ;)
Howling with laughter.  What a thread this is.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #48 on: June 16, 2014, 02:35:56 pm »

BACK ON TOPIC.

Reposting.

Questions for John and Cointropolis;

How do you plan to rectify the lack of communication between Cointropolis and NXT community? When chanc3r has to publicly state that he is not seeking a portion of the "Donations for PayExpo" Cointropolis is seeking, red flags appear to current and future investors in Cointropolis AE offering Virtual Token Ticker CNTROPOLIS.

Thank you chanc3r for taking the time from your other business at PayExpo to create NXT social media exposure. Your social media actions > Cointropolis/GoCoin/Beauregard/Pierce social media actions regarding #NXT #GoCoin.

What we are witnessing is a form of a "Network Fork" within the NXT community. NXT Marketing Committee declined to support the $30,000 for PayExpo, and then a group of private NXT donors and the NXT Community Fund paid for the PayExpo AGAINST Nxt community consensus.

That being said; the Cointropolis team appeared to do a good job representing NXT. Thank you for your hard work, every member of the team that attended. However; deals are being done behind closed doors and this lack of visibility and accountability leads to serious questions about the intents of the people involved in these deals.

For example; on the same day that Brock Pierce' Santa Cruz Bitropolis based ExpressCoin launches, hailing itself as the "new bitpay or Coinbase", GoCoin "announces" on stage ONLY at the PayExpo that GoCoin is accepting NXT as a supported cryptocurrency. There is a literal dearth (no references whatsoever) by GoCoin, Steve Beauregard, or Brock Pierce on ANY Social Media Channels that this "partnership, as claimed by Cointropolis" even exists.

Cointropolis; please post any and all written agreements between Cointropolis and GoCoin immediately on this forum.  Under what business structure is Cointropolis operating? LLC? C Corporation? No corporate structure? Where is Cointropolis incorporated and under what legal authority do they claim to have made the "agreement" with GoCoin?

What efforts and progress towards integration of NXT into the GoCoin payment processor are currently underway? Which Nxt developers have been approached to assist GoCoin with the NXT integration process?

GoCoin and Bitcoinshop appear to be bleeding VC cash at a rapid and unsustainable rate. What guarantee does the NXT community have that GoCoin doesn't go bankrupt taking millions of NXT with it? ExpressCoin seems to be the new exchange dujour of the Bitropolis crowd, with GoCoin ignored by the Bitropolis crowd completely. These circumstances, along with close review of the financials rickjames posted are enough to raise more red flags about this entire situation.

The Nxt community was prevented from performing adequate Due Diligence on the GoCoin deal due to the lack of proper and timely disclosure by the Cointropolis team. Blindly hyping a poorly defined and executed deal while failing to perform adequate due diligence is a surefire method to ending up with a divided community.

I have plenty more questions, but for now I would like some REAL answers from Cointropolis. Thanks.

I think NxtMinnow's questions are very important.  I look forward to the answers.

My additional question is whether or not GoCoin can immediately take EgoPay's place in funding the new Bter NXT/USD  exchange for Americans.
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #49 on: June 16, 2014, 05:59:19 pm »

This topic needs to be closed it's burning bridges there will b updates I'm sure but we need topic closed off as it could reverse the future
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NxtMinnow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #50 on: June 16, 2014, 06:09:09 pm »

Careful everyone. This thread could "reverse the future"! Fire up your gigawatts!

In all seriousness, two words. Due diligence.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #51 on: June 16, 2014, 06:24:33 pm »

By the way, just got an answer from GoCoin: https://twitter.com/NxtcoinsNL/status/477901627207475200
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #52 on: June 16, 2014, 06:25:24 pm »

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rickyjames

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #53 on: June 16, 2014, 08:22:41 pm »

This topic needs to be closed it's burning bridges there will b updates I'm sure but we need topic closed off as it could reverse the future

Careful everyone. This thread could "reverse the future"! Fire up your gigawatts!

In all seriousness, two words. Due diligence.

Forget about reversing the future.  I'd be happy to reverse the past on half of the posts in this thread.  Guess which half.

Seriously:  Even if we close this thread, the facts of the GoCoin / Bitcoin Shop past presented here and the questions of the GoCoin / NXT present asked here would still be on permanent display.  Closing this thread will only prevent posting of answers by others that haven't even shown up yet for the party to share their input.  Are you really saying that if we don't prevent those answers from being presented by closing this thread, the future will be jeopardized?
« Last Edit: June 16, 2014, 08:40:03 pm by rickyjames »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #54 on: June 16, 2014, 08:26:50 pm »

By the way, just got an answer from GoCoin: https://twitter.com/NxtcoinsNL/status/477901627207475200

Cool.

Now we can get that shit out of the way :)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #55 on: June 16, 2014, 08:29:47 pm »

By the way, just got an answer from GoCoin: https://twitter.com/NxtcoinsNL/status/477901627207475200

And now everyone relax.

From GoCoin: "We announced our plans to integrate Nxt, but it won't be live immediately. We'll contact you when it's ready."

I'm not relaxing.  I'm vigilant ("keeping careful watch for possible danger or difficulties").
« Last Edit: June 16, 2014, 08:40:53 pm by rickyjames »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #56 on: June 16, 2014, 08:35:46 pm »

Nice one! Favorite.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #57 on: June 17, 2014, 03:55:56 am »

This topic needs to be closed it's burning bridges there will b updates I'm sure but we need topic closed off as it could reverse the future

I just got thru reading the "Incredible Opportunity" scam thread, which I totally missed out on in real time because I was off working on my big academic spreadsheet project. 

I am utterly blown away.

Let me get this straight.  A guy that just lost 49 BTC = $30,000 in some stupid scam has the cojones to recommend less than 24 hours later that I close a thread containing a bunch of my own very detailed due diligence financial research on our new money-handling partner who signed up with us via the very guy that got hacked to enable the scam?

I do not even have the words to express my incredulity.

All I know is that it is more urgent than ever that NxtMinnow's questions posted here in this thread be answered.  ASAP.

As well as my own question about whether GoCoin will be able to process American deposits for Bter NXT/USD services that EgoPay cannot.

As for me closing this thread, let me repeat what US Army General Anthony McAuliffe said when he and his troops were surrounded by Nazis in the Battle of the Bulge and asked to surrender:

Nuts!

http://www.army.mil/article/92856
« Last Edit: June 17, 2014, 04:16:17 am by rickyjames »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #58 on: June 17, 2014, 04:26:01 am »

I, for one, celebrate this shift towards diligence and can't wait to see it exercised towards all manner of assets, IPOs, and investments on the Nxt ecosystem.  The lack of detailed information around the Nxt/GoCoin partnership is far more the norm than the exception.

An environment that allows vagueness to pass muster creates an culture where the threads like "incredible opportunity!" are allowed to cause damage.

I do not believe in centralization, but I do believe in trust; and I think nxtforum.org has a role to play in creating a culture where trust is earned, when needed, because it is demanded by a community that values rigor and authenticity.

I could derail this thread into a political debate, so I'll stop there; but I agree with other voices who are insisting that the current situation should not detract us from getting key questions answered.
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Eadeqa

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #59 on: June 17, 2014, 06:45:50 am »

I, for one, celebrate this shift towards diligence and can't wait to see it exercised towards all manner of assets, IPOs, and investments on the Nxt ecosystem.  The lack of detailed information around the Nxt/GoCoin partnership is far more the norm than the exception.

https://twitter.com/GoCoin/status/478673418213392385

"Just checked w the dev team - we'll be up-and-running w NXT in 30-60 days!"
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NiftyNikel

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #60 on: June 17, 2014, 12:21:56 pm »

Some questions were asked of us in a different thread and thought the answers would best fit in this thread:


1. "Where is Cointropolis incorporated and under what legal authority do they claim to have made the "agreement" with GoCoin"

Any service is able to accept NXT, it's completely open source and needs no permission from any entity. Ever since Miami, we worked to get them to accept them.  If you look back over the last few months, there were a number of swarms created, just like we've done with exchanges in the past.

So when you say agreement, it's nothing more than GoCoin committing to add NXT. Just like any exchange, any other service. If someone is able to bring on Coinbase, Bitpay etc.. all the better. It's just one more company willing to accept it.  All we've done is help promote it since it brings a fiat option for NXT, nothing more.


2. Blindly hyping a poorly defined and executed deal while failing to perform adequate due diligence is a surefire method to ending up with a divided community.


We were excited that after tons of swarms (check the history, we even had swarms on their FB from community members) they finally were willing to add it to their offering.  There is no deal, they decided to accept NXT. 


3. "GoCoin and Bitcoinshop appear to be bleeding VC cash at a rapid and unsustainable rate. What guarantee does the NXT community have that GoCoin doesn't go bankrupt taking millions of NXT with it?"

There are some exchanges that currently support NXT that I'm not particularly comfortable with myself. With that being said, nothing stops any community member from contacting a service and adding it.  Like anything else, it's up to the community to keep a watch on how NXT is being used and do what they can to warn others.

One of the biggest barriers to adoption is making it easy for merchants to accept NXT. I understand some believe businesses should just hold NXT directly, however, the reality is that doesn't pay the electric, the employee salaries or supplies.  As mentioned above, I would hope NXT would be on all payment processors.

4."What we are witnessing is a form of a "Network Fork" within the NXT community. NXT Marketing Committee declined to support the $30,000 for PayExpo, and then a group of private NXT donors and the NXT Community Fund paid for the PayExpo AGAINST Nxt community consensus."

This was a private venture with Salsa. He brought it into the community after meeting Lee and fund raising already began. If we look back through the history, we had no part whatsoever with that initial piece. Funding came in from some of the larger stake holders and Salsa asked if I would speak and network.

At the time I was extremely skeptical on the ROI, I didn't think NXT was ready.  Frankly, Lee came in like a tornado and wasn't quite sure what to make of it.  I believe we were right to be skeptical, but he delivered. The speech was standing room only, the interviews were back to back and the exhibitors were receptive to the message.


5.  "How do you plan to rectify the lack of communication between Cointropolis and NXT community? "

When it comes to setting up swarms, assisting others (like Amsterdam) on conferences and bringing new business in NXT, I seem to do pretty well.  When it comes to communication with the community, I just didn't live up to expectation.  NiftyNikel is far better at this piece and will be a better communicator moving forward.


6. "Under what business structure is Cointropolis operating? LLC? C Corporation? No corporate structure?"

We are currently a group that's looking to work in the crypto space. We are looking into an LLC, however, this is an important distinction. There are no legal agreements with ANY payment process, exchange etc.. we don't have any legal authority.  We're just trying our best to bring in as many services as possible into NXT. NXT being open source and not a company, nobody has any right to make a legal agreement for the whole. All CoinTropolis can promise a company is we'll do what we can to help get the word out. Businesses don't add NXT because they're bored.  That's all we want to do.

7. "That being said; the Cointropolis team appeared to do a good job representing NXT. Thank you for your hard work, every member of the team that attended."

We really appreciate that. A lot of great people helped.


8.  "When chanc3r has to publicly state that he is not seeking a portion of the "Donations for PayExpo"

This is a great question and one I'm glad that got brought up.

1. If the booth was co-branded with CoinTropolis, I can understand all the benefits of being there.

2. In the speech, I was not from CoinTropolis.  In the 400k interview, I was not from CoinTropolis.  Everything about that conference was about NXT.

3. Expenses were covered, fantastic.  However, the reality was we also had to take time off from our full time jobs to be there. Maybe in hindsight, we should have just charged for our time as part of the initial proposal. Our thought was simply do a great job, outline what you did and whoever wants to donate, will donate.  That's cheaper for everyone.

4. With the virtual token, any event we attend is tied to the asset. Going to the conference was part of the EventTropolis service.  For those that bought the asset, I would like to think they would like to see us ask for some type of donation so they can see the rewards from it.

If we do things for free, now we're upsetting those that want us to bring in money for the asset services. I felt like this was a good balance.

1. If we don't charge for the event, the community isn't forced to pay.

2. If we do a great job, some people will have no issue donating.

3. If we ask for donations, our asset holders will be able to share in that in rewards.

Let's say we raised 20,000k in donations, that would be earned money for the asset.


9. Developers notified

As soon as I posted the 'big announcement' thread, I PM'd wesley, Jean-luc etc.. and asked who else I should bring into the fold.  The bridge guys were also include in the announcement.

As soon as GoCoin's development team is ready for implementation, I will do a dual introduction.  When we were first trying to get Cryptsy to add us, after the miami meeting, I did a dual introduction with their key people and our different developers. If you need a date, I'd be happy to dig back through the emails.
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #61 on: June 17, 2014, 01:11:41 pm »

Might be a bit off TOPIC BUT EVERYONE IS GOING TO BE READING HERE

Coin Corner Isle of Man 1st Crypto Exchange "Crypto to FIAT"

Ive just got off the phone with Charlie his adding NXT to his exchange that launches on the 1st of July.

So it will be NXT to GBP  and GBP to NXT

This will be under IOM Laws etc for withdraws and deposits.

So in a nutshell Regulated

Sorry to go off topic but I think everyone is going to be here reading
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Berzerk

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #62 on: June 17, 2014, 01:12:44 pm »

Which exchange is it? Name? No hype please.
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #63 on: June 17, 2014, 01:16:01 pm »

THERE IS NO HYPE

Coin Corner Isle of Man 1st Crypto Exchange "Crypto to FIAT"



Which exchange is it? Name? No hype please.
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Ezravdb

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #64 on: June 17, 2014, 01:16:07 pm »

Coin Corner I guess?
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #65 on: June 17, 2014, 01:17:06 pm »

Correct that's what I sed it launchs the 1st July the 1st Exchange on the Island

Coin Corner I guess?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #66 on: June 17, 2014, 01:18:12 pm »

Nice!
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Berzerk

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #67 on: June 17, 2014, 01:18:28 pm »

Not one word about this exchange at all on the whole internet.
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #68 on: June 17, 2014, 01:22:34 pm »

Like i Said its Launching on the 1st of July its the 1st one on the island.

the founder related to Investment so i do not think the people on the Island are going to Bullshit that its going to be the 1st one

I met with him this morning and spoke to him by phone and he confirmed he will add NXT to it.

Wish i never said it now because its just going to be negative B++S__T from people in here

Really no respect at all this forum

Starting to think I am wasting my time With this Crap
Not one word about this exchange at all on the whole internet.
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Berzerk

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #69 on: June 17, 2014, 01:24:36 pm »

Like i Said its Launching on the 1st of July its the 1st one on the island.

the founder related to Investment so i do not think the people on the Island are going to Bullshit that its going to be the 1st one

I met with him this morning and spoke to him by phone and he confirmed he will add NXT to it.

Wish i never said it now because its just going to be negative B++S__T from people in here

Really no respect at all this forum

Starting to think I am wasting my time With this Crap
Not one word about this exchange at all on the whole internet.
I'm not saying anything bad. I just raise the facts. I want to prevent hype. It's great if this exchange accept NXT. ;)

And what does this have to do with respect? I have respect for everyone who promotes NXT.
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #70 on: June 17, 2014, 01:25:47 pm »

Well yo should read before making comments it said 1st on the island 1st of july

Like i Said its Launching on the 1st of July its the 1st one on the island.

the founder related to Investment so i do not think the people on the Island are going to Bullshit that its going to be the 1st one

I met with him this morning and spoke to him by phone and he confirmed he will add NXT to it.

Wish i never said it now because its just going to be negative B++S__T from people in here

Really no respect at all this forum

Starting to think I am wasting my time With this Crap
Not one word about this exchange at all on the whole internet.
I'm not saying anything bad. I just raise the facts. I want to prevent hype. It's great if this happens.
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Berzerk

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #71 on: June 17, 2014, 01:26:30 pm »

Well yo should read before making comments it said 1st on the island 1st of july

What does this has to do that there is not ONE word on the whole internet about this exchange?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #72 on: June 17, 2014, 01:32:34 pm »

Good news lee. Thanks for the info on the new exchange  :)

For those looking www.coincorner.io
« Last Edit: June 17, 2014, 01:34:40 pm by TimmyD »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #73 on: June 17, 2014, 01:34:02 pm »

Skeptical level over 9000 on this forum lately ;D
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #74 on: June 17, 2014, 01:53:33 pm »

Not one word about this exchange at all on the whole internet.

Maybe because it is a brand new exchange and has not launched yet. Lets wait and see.

Thanks, Lee!
« Last Edit: June 17, 2014, 01:56:16 pm by gs02xzz »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #75 on: June 17, 2014, 01:55:42 pm »

Good news lee. Thanks for the info on the new exchange  :)

For those looking www.coincorner.io

There it is. Good. :)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #76 on: June 17, 2014, 02:29:36 pm »

Good news lee. Thanks for the info on the new exchange  :)

For those looking www.coincorner.io

There it is. Good. :)

Boom!
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #77 on: June 17, 2014, 02:36:55 pm »

Good news lee. Thanks for the info on the new exchange  :)

For those looking www.coincorner.io

There it is. Good. :)

Boom!
Allrighty then! Well done :)
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #78 on: June 17, 2014, 02:52:15 pm »

Sorry guys but im just cranky over me 49 BTC via this platform

Things have good potential Looking forward in options

I am not going to give you any hype or hints but there something very pleasant I may stay here much longer
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #79 on: June 17, 2014, 02:56:24 pm »

Its not just you who feels cranky lee. i think the whole community is a little on edge regarding the circumstances. well all look back towards the end of summer and laugh at whats gone on over the past 2 days. Theres way too much drive and passion here for that little episode to slow us down. im pretty confident that your project will multiply your portfolio value with the release of your projects and many others here. we are in mid snowball effect and a few nasty pine trees are not gonna stop us.  ;D
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #80 on: June 17, 2014, 03:00:31 pm »

It's all good! Totally understandable.

I guess everybody on this forum is a bit anxious after everything what happened the last couple of weeks. And that you lost 49BTC sucks even more.

Don't let it get to you, we all very much support you and appreciate all the work you are doing for Nxt!
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #81 on: June 17, 2014, 04:07:06 pm »

Coin Corner Isle of Man 1st Crypto Exchange "Crypto to FIAT"

Not one word about this exchange at all on the whole internet.

Like i Said its Launching on the 1st of July its the 1st one on the island.
the founder related to Investment so i do not think the people on the Island are going to Bullshit that its going to be the 1st one
I met with him this morning and spoke to him by phone and he confirmed he will add NXT to it.

Coin Corner (see their countdown clock at http://coincorner.io/) is a two-week-old startup by Daniel Scott of 9 Quay West, Douglas, Isle of Man.  His previous ventures are TheBugNet (http://www.thebugnet.com/) since October 2012 and BlockZero (http://www.blockzero.net/) since February 2014.  You can find a telephone number to call him via TheBugNet if you wanna.  He's got a fairly complete resume up on his LinkedIn splash page.  (http://uk.linkedin.com/pub/daniel-scott/21/351/590).

The Isle of Man has kind of a unique legal status, being a "British Crown dependency" (tax haven) that is not legally part of the UK. 

http://en.wikipedia.org/wiki/Isle_of_Man

Last week they issued a "position paper" on cryptocurrencies.

http://www.blockzero.net/isle-of-man-moves-to-control-digital-currencies/

Daniel, welcome to the NXT family!  We look forward to working with you and moving our precious money onto your computers!
« Last Edit: June 17, 2014, 04:35:31 pm by rickyjames »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #82 on: June 17, 2014, 04:17:45 pm »

Which exchange is it? Name? No hype please.

Why would this be considered "hype"?  Please don't discourage people from making announcements related to Nxt, it's annoying.  Also, there is nothing wrong with people getting excited about various news in crypto and Nxt.  TXTCoinsNow no need to apologize.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #83 on: June 17, 2014, 04:33:22 pm »

Great News!!!!!

continue your work.

thank you for all

 ;D ;D ;D

Ezravdb

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #84 on: June 17, 2014, 04:37:37 pm »

Sorry guys but im just cranky over me 49 BTC via this platform

Things have good potential Looking forward in options

I am not going to give you any hype or hints but there something very pleasant I may stay here much longer

So sorry for the loss..

Thanks for your hard work.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #85 on: June 17, 2014, 04:50:42 pm »

Might be a bit off TOPIC BUT EVERYONE IS GOING TO BE READING HERE

Coin Corner Isle of Man 1st Crypto Exchange "Crypto to FIAT"

Ive just got off the phone with Charlie his adding NXT to his exchange that launches on the 1st of July.

So it will be NXT to GBP  and GBP to NXT

This will be under IOM Laws etc for withdraws and deposits.

So in a nutshell Regulated

Sorry to go off topic but I think everyone is going to be here reading
Thanks for derailing the topic, just as NiftyNikel finally makes a statement. >:(
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #86 on: June 17, 2014, 04:51:07 pm »

Some questions were asked of us in a different thread and thought the answers would best fit in this thread:


1. "Where is Cointropolis incorporated and under what legal authority do they claim to have made the "agreement" with GoCoin"

Any service is able to accept NXT, it's completely open source and needs no permission from any entity. Ever since Miami, we worked to get them to accept them.  If you look back over the last few months, there were a number of swarms created, just like we've done with exchanges in the past.

So when you say agreement, it's nothing more than GoCoin committing to add NXT. Just like any exchange, any other service. If someone is able to bring on Coinbase, Bitpay etc.. all the better. It's just one more company willing to accept it.  All we've done is help promote it since it brings a fiat option for NXT, nothing more.


2. Blindly hyping a poorly defined and executed deal while failing to perform adequate due diligence is a surefire method to ending up with a divided community.


We were excited that after tons of swarms (check the history, we even had swarms on their FB from community members) they finally were willing to add it to their offering.  There is no deal, they decided to accept NXT. 


3. "GoCoin and Bitcoinshop appear to be bleeding VC cash at a rapid and unsustainable rate. What guarantee does the NXT community have that GoCoin doesn't go bankrupt taking millions of NXT with it?"

There are some exchanges that currently support NXT that I'm not particularly comfortable with myself. With that being said, nothing stops any community member from contacting a service and adding it.  Like anything else, it's up to the community to keep a watch on how NXT is being used and do what they can to warn others.

One of the biggest barriers to adoption is making it easy for merchants to accept NXT. I understand some believe businesses should just hold NXT directly, however, the reality is that doesn't pay the electric, the employee salaries or supplies.  As mentioned above, I would hope NXT would be on all payment processors.

4."What we are witnessing is a form of a "Network Fork" within the NXT community. NXT Marketing Committee declined to support the $30,000 for PayExpo, and then a group of private NXT donors and the NXT Community Fund paid for the PayExpo AGAINST Nxt community consensus."

This was a private venture with Salsa. He brought it into the community after meeting Lee and fund raising already began. If we look back through the history, we had no part whatsoever with that initial piece. Funding came in from some of the larger stake holders and Salsa asked if I would speak and network.

At the time I was extremely skeptical on the ROI, I didn't think NXT was ready.  Frankly, Lee came in like a tornado and wasn't quite sure what to make of it.  I believe we were right to be skeptical, but he delivered. The speech was standing room only, the interviews were back to back and the exhibitors were receptive to the message.


5.  "How do you plan to rectify the lack of communication between Cointropolis and NXT community? "

When it comes to setting up swarms, assisting others (like Amsterdam) on conferences and bringing new business in NXT, I seem to do pretty well.  When it comes to communication with the community, I just didn't live up to expectation.  NiftyNikel is far better at this piece and will be a better communicator moving forward.


6. "Under what business structure is Cointropolis operating? LLC? C Corporation? No corporate structure?"

We are currently a group that's looking to work in the crypto space. We are looking into an LLC, however, this is an important distinction. There are no legal agreements with ANY payment process, exchange etc.. we don't have any legal authority.  We're just trying our best to bring in as many services as possible into NXT. NXT being open source and not a company, nobody has any right to make a legal agreement for the whole. All CoinTropolis can promise a company is we'll do what we can to help get the word out. Businesses don't add NXT because they're bored.  That's all we want to do.

7. "That being said; the Cointropolis team appeared to do a good job representing NXT. Thank you for your hard work, every member of the team that attended."

We really appreciate that. A lot of great people helped.


8.  "When chanc3r has to publicly state that he is not seeking a portion of the "Donations for PayExpo"

This is a great question and one I'm glad that got brought up.

1. If the booth was co-branded with CoinTropolis, I can understand all the benefits of being there.

2. In the speech, I was not from CoinTropolis.  In the 400k interview, I was not from CoinTropolis.  Everything about that conference was about NXT.

3. Expenses were covered, fantastic.  However, the reality was we also had to take time off from our full time jobs to be there. Maybe in hindsight, we should have just charged for our time as part of the initial proposal. Our thought was simply do a great job, outline what you did and whoever wants to donate, will donate.  That's cheaper for everyone.

4. With the virtual token, any event we attend is tied to the asset. Going to the conference was part of the EventTropolis service.  For those that bought the asset, I would like to think they would like to see us ask for some type of donation so they can see the rewards from it.

If we do things for free, now we're upsetting those that want us to bring in money for the asset services. I felt like this was a good balance.

1. If we don't charge for the event, the community isn't forced to pay.

2. If we do a great job, some people will have no issue donating.

3. If we ask for donations, our asset holders will be able to share in that in rewards.

Let's say we raised 20,000k in donations, that would be earned money for the asset.


9. Developers notified

As soon as I posted the 'big announcement' thread, I PM'd wesley, Jean-luc etc.. and asked who else I should bring into the fold.  The bridge guys were also include in the announcement.

As soon as GoCoin's development team is ready for implementation, I will do a dual introduction.  When we were first trying to get Cryptsy to add us, after the miami meeting, I did a dual introduction with their key people and our different developers. If you need a date, I'd be happy to dig back through the emails.
Thank you for this extensive announcement. Please move and stay optopic guys.
« Last Edit: June 17, 2014, 04:53:31 pm by farl4bit »
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Johnson

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #87 on: June 17, 2014, 05:30:32 pm »

Sorry guys but im just cranky over me 49 BTC via this platform

Things have good potential Looking forward in options

I am not going to give you any hype or hints but there something very pleasant I may stay here much longer

So sorry for the loss..

Thanks for your hard work.

Equally, I'm sorry for your loss :(
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #88 on: June 18, 2014, 08:01:55 am »

On the Topic of Gocoin they was in IOM providing a presentation On how they work and related services for Gaming industry They seem to be very open about Gocoin on IOM
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Ezravdb

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #89 on: June 18, 2014, 08:17:55 am »

If Gocoin could partner up with some of these game companies :0
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #90 on: June 18, 2014, 08:22:55 am »

On the Topic of Gocoin they was in IOM providing a presentation On how they work and related services for Gaming industry They seem to be very open about Gocoin on IOM

TXT

Could you please put commas and dots in your sentences? I'm not native english speaker and it is very hard to get what you want to say. Thank you.

 ;D
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #91 on: June 25, 2014, 06:56:45 pm »

Bumping this topic after returning from the tropics...

One week has passed since the last post in this thread.

When should Nxt community expect a Status Report for NXT integration on GoCoin payment processing platform?

Where are the Cointropolis crew and what is the combined marketing plan with regards to GoCoin and Nxt?
 

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Eadeqa

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #92 on: June 25, 2014, 06:58:03 pm »

When should Nxt community expect a Status Report for NXT integration on GoCoin payment processing platform?

GoCoin tweeted 30 to 60 days
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #93 on: June 25, 2014, 07:19:57 pm »

Thanks Eadeqa,

So, according to GoCoin June 16 tweet, NXT should be live on GoCoin between July 16, 2014 and August 16, 2014.

GoCoin requires $500 minimum daily transaction volume before depositing fiat to merchants bank account. One potential NXT client (a FFL firearm dealer) already opted to not use GoCoin over this minimum requirement. Only high sales volume businesses would potentially not be harmed by this minimum requirement. Do any other payment processors have a $500 daily minimum to pay to merchants account? Visa and MasterCard do not have minimum daily transaction requirements in order for merchants to receive deposits from sales.

What is the purposes of this $500 daily minimum?


When should Nxt community expect a Status Report for NXT integration on GoCoin payment processing platform?

GoCoin tweeted 30 to 60 days
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #94 on: June 25, 2014, 07:58:04 pm »

Thanks Eadeqa,

So, according to GoCoin June 16 tweet, NXT should be live on GoCoin between July 16, 2014 and August 16, 2014.

GoCoin requires $500 minimum daily transaction volume before depositing fiat to merchants bank account. One potential NXT client (a FFL firearm dealer) already opted to not use GoCoin over this minimum requirement. Only high sales volume businesses would potentially not be harmed by this minimum requirement. Do any other payment processors have a $500 daily minimum to pay to merchants account? Visa and MasterCard do not have minimum daily transaction requirements in order for merchants to receive deposits from sales.

What is the purposes of this $500 daily minimum?


When should Nxt community expect a Status Report for NXT integration on GoCoin payment processing platform?

GoCoin tweeted 30 to 60 days

I set up a GoCoin merchant account. I have provided a BTC payout address and do not remember seeing a $500 daily minimum for withdrawl.

In the Terms of Use I did read this:

"You will not use the Payment Gateway to process payments for the sale of any goods or services that are illegal in any part of the world such as and including (i) narcotics, drugs or any controlled substances, (ii) fake products or any items that infringe or violate any intellectual property rights, (iii) ammunition, firearms, explosives or any other types of weapons, or (iv) child pornography, human trafficking or any other activities that in any way violate any human rights or morality;..."

So I'm not sure it the potential NXT client, the firearm dealer is stating the truth.

There is a split option for payment for fiat through a bank account which I did not set up. I will go further with this once NXT is functioning with GoCoin and let you know if I encounter an unusual barriers.

They did ask for my Drivers License and my Business Registration document. I was verified without any problems.

Now, I'm eagerly awaiting the option to accept NXT too!
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #95 on: June 25, 2014, 08:01:04 pm »

Thanks Eadeqa,

So, according to GoCoin June 16 tweet, NXT should be live on GoCoin between July 16, 2014 and August 16, 2014.

GoCoin requires $500 minimum daily transaction volume before depositing fiat to merchants bank account. One potential NXT client (a FFL firearm dealer) already opted to not use GoCoin over this minimum requirement. Only high sales volume businesses would potentially not be harmed by this minimum requirement. Do any other payment processors have a $500 daily minimum to pay to merchants account? Visa and MasterCard do not have minimum daily transaction requirements in order for merchants to receive deposits from sales.

What is the purposes of this $500 daily minimum?

Who cares how GoCoin do their business? I only care if they add Nxt, along with other exchanges and payment processors.

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sparta_cuss

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #96 on: June 26, 2014, 02:02:28 am »

In the Terms of Use I did read this:

"You will not use the Payment Gateway to process payments for the sale of any goods or services that are illegal in any part of the world such as and including (i) narcotics, drugs or any controlled substances, (ii) fake products or any items that infringe or violate any intellectual property rights, (iii) ammunition, firearms, explosives or any other types of weapons, or (iv) child pornography, human trafficking or any other activities that in any way violate any human rights or morality;..."

It's odd to say that they will not process payments for goods or services illegal in any part of the world. Some goods and services legal in the U.S. or Europe would be illegal in eastern asian countries, and vice versa. The way this is phrased, however, if a product or service is illegal in even one jurisdiction, they will not deal with the company selling it. This can't be what they mean, and it makes me wonder how carefully they have thought about their terms of service or business plan.

Also, how do they determine whose morality is violated? I suspect some Internet users have a rather wide-open moral landscape.

I don't take issue with their list of restricted items, and it looks like their morality is roughly in line with mine. But I have a very specific cultural and personal history that informs my morality, as does anyone. I just wonder how they decide which items go on the list. The relevant morality must be that of the owners of GoCoin, I guess.
« Last Edit: June 26, 2014, 02:08:48 am by sparta_cuss »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop
« Reply #97 on: June 26, 2014, 12:47:55 pm »

Might be a bit off TOPIC BUT EVERYONE IS GOING TO BE READING HERE

Coin Corner Isle of Man 1st Crypto Exchange "Crypto to FIAT"

Ive just got off the phone with Charlie his adding NXT to his exchange that launches on the 1st of July.

So it will be NXT to GBP  and GBP to NXT

This will be under IOM Laws etc for withdraws and deposits.

So in a nutshell Regulated

Sorry to go off topic but I think everyone is going to be here reading

Off-topic again, but...
This is huge. There are currently no viable crypto-fiat exchanged in UK. They keep getting hamstrung by the banks. The only one I know of is Coinfloor, and liquidity is low there. Don't know what their long-term future is.
It will be nice to be able to cash out in GBP rather than get hammered by the exchange rates from Stamp.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #98 on: June 26, 2014, 09:03:11 pm »

Apologies in advance for hijacking this post and apologies as it is off topic also! But a friend of mine made me aware of the mention of CoinCorner on here, so I thought the least I could do was give you guys a response.

I'll keep this short and sweet, with more details to follow in due course.

Yes CoinCorner will be launching very soon, with fiat (GBP) to crypto and yes we are based on the Isle of Man.

The reason for such little information is because we want to announce the exchange when we are ready, there's nothing worse than lots of hype only to be let down.
I'll be sure to drop back in once we're ready to announce more!

And again apologies for hijacking the post!!
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #99 on: June 26, 2014, 09:19:01 pm »

You will be adding nxt right?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #100 on: June 26, 2014, 09:27:47 pm »

Apologies in advance for hijacking this post and apologies as it is off topic also! But a friend of mine made me aware of the mention of CoinCorner on here, so I thought the least I could do was give you guys a response.

I'll keep this short and sweet, with more details to follow in due course.

Yes CoinCorner will be launching very soon, with fiat (GBP) to crypto and yes we are based on the Isle of Man.

The reason for such little information is because we want to announce the exchange when we are ready, there's nothing worse than lots of hype only to be let down.
I'll be sure to drop back in once we're ready to announce more!

And again apologies for hijacking the post!!

Welcome! Will look forward to hearing more (at the right time). Very good news for the UK.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #101 on: July 02, 2014, 09:45:29 pm »

we are working on integrating gocoin into the online game, so both the game and nxt will benefit, at least from the marketing point. Hopefully the daily limit is really not the 500 USD.. here should be a description:

Quote
Fees and costs as a merchant
The fees upfront are 1% of each transaction to use Gocoin.com as a payment system for your business. Once your business reaches and passes $2500 USD per month this drops your fee for each transaction. The web site takes the same commission on all litecoin, altcoins and other digital currencies.
Your business is paid daily if the volume of transactions through Gocoin.com is $500 US a day and all International companies and currencies not using USD are paid by wire weekly.
Read more at http://bitcoinsites.org/gocoin/#BYvDTD0PlHCyjGRS.99
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #102 on: July 02, 2014, 10:30:07 pm »

CoinCorner.com Exchange went live today on the Isle of Man and is now trading BTC, LTC and Doge for GBP, USD and EUR.

I posted the press release on the nxtcommunity.org site with this edit from an email I received from Charlie, the CEO:

"Adding Nxtcoin in due course!"

That will be a happy day :)

http://www.nxtcommunity.org/nxt-press-release/nxt/coincornercom-exchange
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #103 on: July 03, 2014, 06:32:58 am »

Love to get my hands on that!  :)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #104 on: July 03, 2014, 07:19:23 am »

CoinCorner.com Exchange went live today on the Isle of Man and is now trading BTC, LTC and Doge for GBP, USD and EUR.

I posted the press release on the nxtcommunity.org site with this edit from an email I received from Charlie, the CEO:

"Adding Nxtcoin in due course!"

That will be a happy day :)

http://www.nxtcommunity.org/nxt-press-release/nxt/coincornercom-exchange

A new Chinese  Exchange--https://coinport.com/
its CEO say they will add nxt soon。。。
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #105 on: July 03, 2014, 07:20:11 am »

CoinCorner.com Exchange went live today on the Isle of Man and is now trading BTC, LTC and Doge for GBP, USD and EUR.

I posted the press release on the nxtcommunity.org site with this edit from an email I received from Charlie, the CEO:

"Adding Nxtcoin in due course!"

That will be a happy day :)

http://www.nxtcommunity.org/nxt-press-release/nxt/coincornercom-exchange

A new Chinese  Exchange--https://coinport.com/
its CEO say they will add nxt soon。。。
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #106 on: July 03, 2014, 09:12:12 am »

"Adding Nxtcoin in due course!"

Nxt truly is the coin of the future.

We're always being added "soon" ;)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #107 on: July 03, 2014, 09:14:07 am »

"Adding Nxtcoin in due course!"

Nxt truly is the coin of the future.

We're always being added "soon" ;)

Hahaha
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #108 on: July 03, 2014, 09:30:39 am »

"Adding Nxtcoin in due course!"

Nxt truly is the coin of the future.

We're always being added "soon" ;)

 :D There might be a legit slogan hiding in that humor!
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #109 on: July 03, 2014, 10:20:26 am »

"Adding Nxtcoin in due course!"

Nxt truly is the coin of the future.

We're always being added "soon" ;)

 :D There might be a legit slogan hiding in that humor!

"Nxt - Be sooner" ;)

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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #110 on: July 03, 2014, 11:48:03 am »

Go Coin is going in a really good direction Erik is a very agressive and smart guy in business his hitting the right paths so when NXT is added it will really open a large market for NXT
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #111 on: July 03, 2014, 12:55:02 pm »

Go Coin is going in a really good direction Erik is a very agressive and smart guy in business his hitting the right paths so when NXT is added it will really open a large market for NXT

What do you think the biggest priority is right now?
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TXTCoinsNow

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #112 on: July 03, 2014, 03:15:18 pm »

They have a good direction and a reasonable workload to do I know Wat they mean Bcs I got txtcoin and its an it nightmare
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #113 on: July 10, 2014, 10:43:47 am »

GoCoin has now also a partnership with Hustler. What a threesome :D

I'm also getting unsolicited emails from them (anyone else too?). Guess they're picking the gritty road to success. Maybe it'll work.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #114 on: July 10, 2014, 03:47:24 pm »

GoCoin has now also a partnership with Hustler. What a threesome :D

I'm also getting unsolicited emails from them (anyone else too?). Guess they're picking the gritty road to success. Maybe it'll work.

Nice....  :P
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #115 on: July 15, 2014, 04:25:32 am »

How much does this matter? GoCoin sent 419 email addresses in the CC space, thus revealing other GoCoin candidates/users to one another. Reddit is beating them up, but isn't this a rather common blunder? Will it hurt GoCoin?

http://www.reddit.com/r/Bitcoin/comments/2aq06p/an_accidental_cc_email_went_out_tonight_from/
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #116 on: July 15, 2014, 04:58:22 am »

How much does this matter? GoCoin sent 419 email addresses in the CC space, thus revealing other GoCoin candidates/users to one another. Reddit is beating them up, but isn't this a rather common blunder? Will it hurt GoCoin?

http://www.reddit.com/r/Bitcoin/comments/2aq06p/an_accidental_cc_email_went_out_tonight_from/
As much as I would like to be a fan of GoCoin, they seem to have a hard time behaving the way you would expect a professional organization to behave. Take their promotional video. Can't they convey who they are and what they do without resorting to Jim Carrey-like antics? Shit, Jim Carrey isn't even funny and he's the best in the world at doing goofy characters.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #117 on: July 15, 2014, 09:39:05 am »

How much does this matter? GoCoin sent 419 email addresses in the CC space, thus revealing other GoCoin candidates/users to one another. Reddit is beating them up, but isn't this a rather common blunder? Will it hurt GoCoin?

http://www.reddit.com/r/Bitcoin/comments/2aq06p/an_accidental_cc_email_went_out_tonight_from/
As much as I would like to be a fan of GoCoin, they seem to have a hard time behaving the way you would expect a professional organization to behave. Take their promotional video. Can't they convey who they are and what they do without resorting to Jim Carrey-like antics? Shit, Jim Carrey isn't even funny and he's the best in the world at doing goofy characters.

https://twitter.com/emilyspaven/status/487562311482486785

And there were other comments during Coinsummit from their CEO which pretty much mocked the Dogecoin community and Dominos Pizza.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #118 on: July 15, 2014, 09:42:17 am »

How much does this matter? GoCoin sent 419 email addresses in the CC space, thus revealing other GoCoin candidates/users to one another. Reddit is beating them up, but isn't this a rather common blunder? Will it hurt GoCoin?

http://www.reddit.com/r/Bitcoin/comments/2aq06p/an_accidental_cc_email_went_out_tonight_from/


My university email, too.. Already got spam.
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m30188

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #119 on: July 15, 2014, 12:54:44 pm »

My university email, too.. Already got spam.
Expect phishing emails too
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #120 on: July 15, 2014, 01:00:08 pm »

My university email, too.. Already got spam.
Expect phishing emails too
Yep. ;)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #121 on: September 24, 2014, 02:53:47 am »

is nxt's gocoin integration still a go?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #122 on: September 24, 2014, 03:04:09 am »

Ask John and Cointropolis, oh wait......
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #123 on: September 24, 2014, 03:24:49 am »

i was under the impression that this was a done deal even without cointropolis..?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #124 on: September 24, 2014, 03:42:55 am »

i was under the impression that this was a done deal even without cointropolis..?

Yeah, I'm curious anyways - did we ever have word that Cointropolis was involved in that in the first place? As in making the deal, not just being on stage with them at some point.

Either way Damelon updated me recently on GoCoin in the Price Spec thread. My short version: They have other priorities, so it get's pushed, but wasn't officially cancelled.
I think the hopes are going down - they don't exactly make an effort in our community.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #125 on: September 24, 2014, 03:44:25 am »

i was under the impression that this was a done deal even without cointropolis..?

I'm pretty sure they'll integrate NXT regardless of cointropolis.  They'd be short-sighted if they didn't.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #126 on: September 24, 2014, 03:54:02 am »

i was under the impression that this was a done deal even without cointropolis..?

Yeah, I'm curious anyways - did we ever have word that Cointropolis was involved in that in the first place? As in making the deal, not just being on stage with them at some point.

Either way Damelon updated me recently on GoCoin in the Price Spec thread. My short version: They have other priorities, so it get's pushed, but wasn't officially cancelled.
I think the hopes are going down - they don't exactly make an effort in our community.

I contacted them unofficially last month and received a response... that was my impression as well. Their focus has shifted. Integration is still a possibility but not a priority.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #127 on: September 24, 2014, 04:01:29 am »

GoCoin is linked to Bitcoin Shop?  Did not realize that.. Bitcoin Shop headquarters is about an hour away from me..  wonder if I could help them out when it comes to integrating Nxt.  I was actually just there a week ago for a meetup.

Do you know how Bitcoin Shop and GoCoin are linked?

Where they waiting for the Nxt<-> BTC bridge, which I hear was held up in development?
« Last Edit: September 24, 2014, 04:07:53 am by mczarnek »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #128 on: September 24, 2014, 05:43:45 am »

“GoCoin will be launching a number of new coins in the coming month."
http://cointelegraph.com/news/112593/us-paypal-merchants-can-accept-bitcoin-starting-today

I assume one of those coins will be NXT.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #129 on: September 24, 2014, 06:51:55 am »

“GoCoin will be launching a number of new coins in the coming month."
http://cointelegraph.com/news/112593/us-paypal-merchants-can-accept-bitcoin-starting-today

I assume one of those coins will be NXT.

yup.  it's the reason why i asked.  i was thinking nxt must be included.. even without cointropolis.

crossing my fingers.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #130 on: September 24, 2014, 08:56:07 am »

Has somebody got in touch with Steve Beauregard from GoCoin?
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #131 on: September 24, 2014, 09:08:52 am »


Has somebody got in touch with Steve Beauregard from GoCoin?

Maybe the circus did, what a clown.
No credicard, no love... no credicard, no love...
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #132 on: September 24, 2014, 09:51:09 am »

Payexpo. The root of all evil,We were cheated by some clowns,
They didn't even finish a project,but brought a few big scamers to the community..

The marketing is a fucking joke
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #133 on: September 24, 2014, 10:23:12 am »

“GoCoin will be launching a number of new coins in the coming month."
http://cointelegraph.com/news/112593/us-paypal-merchants-can-accept-bitcoin-starting-today

I assume one of those coins will be NXT.

We should not assume.
GoCoin said they would integrate NXT, and haven't yet. It would not be good if they integrated other coins ahead of us.
We need to know whether NXT will be included in this next round or not.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #134 on: September 24, 2014, 10:46:32 am »


We need to know whether NXT will be included in this next round or not.

Why? :)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #135 on: September 24, 2014, 10:49:10 am »


We need to know whether NXT will be included in this next round or not.

Why? :)

Because if they don't we will be at a disadvantage to the ones that are added. Forewarned is forearmed.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #136 on: September 24, 2014, 10:57:34 am »

Why do you guys think that if GoCoin doesn't integrate NXT it's a disadvantage. On the contrary, this helps avoid selling pressure. If NXT whales go shopping at thousands of merchants that GoCoin will make available when they integrate NXT, it means a lot of NXT will be dumped for fiat. Just look at what has happened to Bitcoin, ever since Overstock and other big merchants began to accept it, the price has been in decline. Fiat gateway->NXT is good, payment processor that facilitates dumping NXT into fiat is bad or at least neutral. If whales must dump, at least the way it is now is a bit more hassle for them :) You overestimate the publicity effect that 'NXT accepted here' button has. It's just one payment method among a dozens of others (credit cards, other forms of digital fiat money, etc), and will be used mostly by those who already have NXT in the first place. NXT should be promoted in different ways, payment processor doesn't make much difference.
« Last Edit: September 24, 2014, 11:01:24 am by devphp »
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #137 on: September 24, 2014, 11:05:02 am »

I think restricting selling pressure is not good for adoption. People should be free to use NXT however they want. Artificially limiting their choices will not help us.
Short term, there are lots of bumps in the road. Whales dumping one way or another is one of them. It's just something we have to get through if NXT is to be used widely.
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devphp

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #138 on: September 24, 2014, 11:11:45 am »

Well, it's not an artificial limiting of selling pressure, it happens naturally :) Payment processors are reluctant to integrate NXT because it's not as easy as integrating a bunch of bitcoin based coins. I guess, what I meant to say is not to make a tragedy out of payment processors not integrating NXT, there is no clear and big advantage if they do or if they don't, it's a non-event most likely. Bitcoin pump yesterday confirms this, seasoned traders sell into the pump, the bearish trend is still there and this supposedly big news can't overcome it.
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Cassius

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #139 on: September 24, 2014, 11:18:48 am »

In an ideal world, I’d like to see a self-contained NXT economy that didn’t need fiat exchange. Of course, it’s not an ideal world :)
Re: dumping, I’d much prefer to see whales paying minnows for useful goods and services (Free Market? DGS?) than sending to GoCoin. But overall, building infrastructure of any kind can’t be a bad thing.
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Peter2516

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #140 on: September 24, 2014, 11:30:52 am »

http://www.coindesk.com/bitcoin-processors-paypal-partnership/

Quote
Though overwhelmingly positive about the news, Beauregard voiced his disappointment that PayPal’s endorsement only extended to bitcoin and not any other alternative currency communities.
Beauregard said: “I contend that the altcoins that are coming out are far more advanced than what we’ve seen so far.”
Beauregard ended by reiterating his hope that PayPal will continue to pay close attention to developments in the digital currency space, and that this isn’t the last collaboration between it and the larger ecosystem.
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cryptoscout

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #141 on: September 24, 2014, 02:47:39 pm »

I have Spoken to Paypal today. I would strongly recommend contacting paypal yourselves and ask them the question about bitcoin and Paypal you could be shocked by the answer.

Seems that article is hot air opposed to being a break through.

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bitcoinpaul

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #142 on: September 24, 2014, 02:50:09 pm »

I have Spoken to Paypal today. I would strongly recommend contacting paypal yourselves and ask them the question about bitcoin and Paypal you could be shocked by the answer.

Seems that article is hot air opposed to being a break through.

Post their response, please. But don't pay too much attention to the e-mail support staff.
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cryptoscout

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #143 on: September 24, 2014, 02:59:48 pm »

This was not via email this was by telephone

IE why I said you should contact them also to hear what they say.

I have Spoken to Paypal today. I would strongly recommend contacting paypal yourselves and ask them the question about bitcoin and Paypal you could be shocked by the answer.

Seems that article is hot air opposed to being a break through.

Post their response, please. But don't pay too much attention to the e-mail support staff.
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frohlocke

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #144 on: September 24, 2014, 03:03:32 pm »

Do not believe in Call center staff either...
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cryptoscout

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #145 on: September 24, 2014, 03:20:32 pm »

That is very true but without doing any real groundwork as they passed me to somebody else that could comment on Bitcoin as the Call center was not able to.

So from the comments here I would not worry about the announcements as its all pump and dump to get the Bitcoin price up.
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Logan

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #146 on: September 24, 2014, 03:55:06 pm »

That is very true but without doing any real groundwork as they passed me to somebody else that could comment on Bitcoin as the Call center was not able to.

So from the comments here I would not worry about the announcements as its all pump and dump to get the Bitcoin price up.

There is an official announcement by PayPal.
https://www.paypal-community.com/t5/PayPal-Forward/PayPal-and-Virtual-Currency/ba-p/828230
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bitcoinpaul

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #147 on: September 24, 2014, 04:00:13 pm »

That is very true but without doing any real groundwork as they passed me to somebody else that could comment on Bitcoin as the Call center was not able to.

So from the comments here I would not worry about the announcements as its all pump and dump to get the Bitcoin price up.

These announcements help Nxt, too. Don't get too snobbish ;)
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mczarnek

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #148 on: September 24, 2014, 08:17:19 pm »

Why do you guys think that if GoCoin doesn't integrate NXT it's a disadvantage. On the contrary, this helps avoid selling pressure. If NXT whales go shopping at thousands of merchants that GoCoin will make available when they integrate NXT, it means a lot of NXT will be dumped for fiat. Just look at what has happened to Bitcoin, ever since Overstock and other big merchants began to accept it, the price has been in decline. Fiat gateway->NXT is good, payment processor that facilitates dumping NXT into fiat is bad or at least neutral. If whales must dump, at least the way it is now is a bit more hassle for them :) You overestimate the publicity effect that 'NXT accepted here' button has. It's just one payment method among a dozens of others (credit cards, other forms of digital fiat money, etc), and will be used mostly by those who already have NXT in the first place. NXT should be promoted in different ways, payment processor doesn't make much difference.

Short term yes, long term.. it's definitely good for a currency if it is actually accepted at various places and you can actually spend it!
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msin

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #149 on: September 24, 2014, 08:38:06 pm »

Why do you guys think that if GoCoin doesn't integrate NXT it's a disadvantage. On the contrary, this helps avoid selling pressure. If NXT whales go shopping at thousands of merchants that GoCoin will make available when they integrate NXT, it means a lot of NXT will be dumped for fiat. Just look at what has happened to Bitcoin, ever since Overstock and other big merchants began to accept it, the price has been in decline. Fiat gateway->NXT is good, payment processor that facilitates dumping NXT into fiat is bad or at least neutral. If whales must dump, at least the way it is now is a bit more hassle for them :) You overestimate the publicity effect that 'NXT accepted here' button has. It's just one payment method among a dozens of others (credit cards, other forms of digital fiat money, etc), and will be used mostly by those who already have NXT in the first place. NXT should be promoted in different ways, payment processor doesn't make much difference.

Short term yes, long term.. it's definitely good for a currency if it is actually accepted at various places and you can actually spend it!

+1 Even BTC is still in very early adoption stage when you think about what people use to buy things online.
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #150 on: September 24, 2014, 10:45:55 pm »

Fiat gateway->NXT is good, payment processor that facilitates dumping NXT into fiat is bad or at least neutral.
When you say good or bad, I guess you mean it's increasing/decreasing next value. Maybe you concern is more focused on NXT value than mine. In fact, increasing/decreasing value between NXT and Fiat is neutral to me. I think a currency can survive if it's traded a lot, and if people pay confidence to it, not because it's value is high, like tulips bulbs in ancient Netherlands. To my opinion, it will be even better if it's value is stable, allowing to settle contracts in NXT, without referring to the value of an other currency.
I agree with mczarnek :
it's definitely good for a currency if it is actually accepted at various places and you can actually spend it!
Being able to buy/sell more items with NXT will attract more users. People get confidence in a currency because it's convenient to trade, not because of it's high value. Anyway, as it's not possible to increase the number of NXT, a wider adoption of NXT will end up increasing it's value, which looks like being your target.
If we reach this point, I guess you, devphp , mczarnek and me and maybe many more would be happy  ;)
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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #151 on: September 25, 2014, 05:27:50 am »

Fiat gateway->NXT is good, payment processor that facilitates dumping NXT into fiat is bad or at least neutral.
When you say good or bad, I guess you mean it's increasing/decreasing next value. Maybe you concern is more focused on NXT value than mine. In fact, increasing/decreasing value between NXT and Fiat is neutral to me. I think a currency can survive if it's traded a lot, and if people pay confidence to it, not because it's value is high, like tulips bulbs in ancient Netherlands. To my opinion, it will be even better if it's value is stable, allowing to settle contracts in NXT, without referring to the value of an other currency.
I agree with mczarnek :
it's definitely good for a currency if it is actually accepted at various places and you can actually spend it!
Being able to buy/sell more items with NXT will attract more users. People get confidence in a currency because it's convenient to trade, not because of it's high value. Anyway, as it's not possible to increase the number of NXT, a wider adoption of NXT will end up increasing it's value, which looks like being your target.
If we reach this point, I guess you, devphp , mczarnek and me and maybe many more would be happy  ;)

I agree with stability of the NXT tokens being good for settling contracts. But higher valuation would allow more projects to be funded with NXT on the asset exchange. When valuation of the currency is low, only a limited number of projects can be funded before all investors are out of money. Projects need fiat more often than not. Higher valuation would allow less NXT to be invested into each individual project with the same results as more NXT invested at a lower price of NXT. The less NXT leak into fiat out of NXT ecosystem, the better.
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nxtuser

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Re: Discussion On NXT Deal With GoCoin / Bitcoin Shop / Coin Corner
« Reply #152 on: September 26, 2014, 12:32:47 pm »

higher valuation would allow more projects to be funded with NXT on the asset exchange. When valuation of the currency is low, only a limited number of projects can be funded before all investors are out of money.
That makes sense. Hopefully, NXT has decimals, as bitcoin got satochi. Maybe one day we'll talk about NXT and it's BC  ;D
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