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Scam Alert! / IOTA is a scam.
« on: March 29, 2016, 12:53:36 am »
IOTA is a scam.

You know it's a scam because it breaks the fundamental principle of NXT in a way that requires trust (for absolutely no reason) -- it offers you a way to invest in it via "gateways".

It's friggen NXT. Launch an asset.

Stay away from this kind of crap.

You can tell it's a scam just reading the post subject lines in the assets forum thats how hot this shit is.

Assets Board / Bitfinx
« on: January 21, 2016, 08:38:07 pm »
"Still missing a few transactions. I will process it very soon and donate the rest if you don't hurry."

Wow, really. I didn't expect this one to blow up. Lost over $300 on this one.

This leaves basically KNS/SafeHash/etc. and Coinomat as the only companies which have not screwed over investors one way or another over the past year/year and a half, am I wrong?

KNS / KNS 2016 Management Guidance & Dividend Schedule
« on: December 07, 2015, 02:20:56 pm »
The primary income streams are derived from the ownership and operation of a private English school in Asia and the ownership and rental of real estate properties in Canada and Germany.
The secondary income stream is derived from the ownership and management of shares in various public and private companies. All NXT obtained from the sale of shares will be held in reserve until our interest income exceeds our obligation to repurchase outstanding shares. It will then be used to increase our existing income streams or obtain new income streams.

We expect to pay 0.2 NXT per share per month in 2016, for a total income of 24% based on a sale price of 10 NXT. Of course if you managed to scoot in at 7 or 5 that may end up representing dividends of close to 50% per year.

Updates will be posted at least monthly through the year and/or in response to investor comments, questions and concerns.

The share price will be set at 10 NXT for 2016. We will repurchase investor's shares at up to 7 NXT within 3 to 7 days of a sale order being posted.

You can contact us by forum message or post to this thread. Thanks!

Nxt Asset Exchange / Important KNS Announcement for 2015 year end
« on: November 30, 2015, 08:29:11 pm »
As of today, KNS has paid a dividend of 0.1 per share, and offers to purchase all publicly held shares at IPO price.

Management guidance forecast is double digit growth in 2016.

Please see https://nxtforum.org/index.php?topic=8003.msg202279#msg202279 for details of our most recent announcements.

Assets Board / KNS 2016 dividend schedule to be posted before end of month
« on: November 30, 2015, 08:28:40 pm »
As of today, KNS has paid a dividend of 0.1 per share, and offers to purchase all publicly held shares at IPO price.

Management guidance forecast is double digit growth in 2016.

Please see https://nxtforum.org/index.php?topic=8003.msg202279#msg202279 for details of our most recent announcements.

Trading & Exchanges / Attention Canadians :: Sell us your NXT!
« on: October 11, 2015, 03:17:55 pm »
If you are a Canadian Citizen (like me) with a Canadian Bank Account, then I want to buy your NXT for bank transfer.

I realize that in extreme situations bank transfers are reversible however given the amount of time and effort I've put into this versus the small amounts I am willing to do ($10) it should be obvious to you this is an okay deal.

As an incentive I am willing to pay 5% to 10% over quadriga/whatever market prices (and you avoid transfer fees on top of that, too).

I will do any amount actually, down to a few cents, and the total amount I would like to buy is on the order of $5,000 CAD. I have plenty of references I have done over $25,000 total this way before.

KNS / [BearMining] Important Announcement
« on: June 12, 2015, 07:46:56 pm »
Due to recent announcements posted on ltcgear.com, bearmining is now worthless.

This is completely out of my hands now. We're being asked to pay over 150 BTC -- $40,000 US -- as a maintenance fee despite total purchases of less than half that amount.

Note that this fee is to resume our hosted mining service. In other words, we currently do not have any money, nor do we have any hosted mining service.

Bearmining is worth zero.

The end.

Nxt Client Helpdesk / Locked out of all accounts since upgrade
« on: May 27, 2015, 06:23:40 pm »
Since the new client does not allow shorter passwords, I have been locked out of all my funds' accounts.

Until it's fixed I am a little clueless about how to proceed. I can probably find an old version or an alternative client and get the coins out but if this isn't fixed (soon) it will cause a terrible delay in our business' operation. Can someone fix this or give pointers how to work around this limitation in the client? Thx.

KNS / [AutoDiv] Fraud Confirmed
« on: March 31, 2015, 04:06:22 am »
As was predicted, AutoDiv3 is now confirmed collapsed. autodiv states that he has taken all the investor money he has received from AutoDiv and given it to the AutoDiv3 investors, leaving them (the AutoDiv investors) with nothing.

While this does not prove that AutoDiv was a ponzi scheme, it does prove that autodiv has committed fraud, because he has taken investor's money outside of their best interest and given it to someone else.

Like a thief.

Why might something like this be done, if he was running profitably with AutoDiv? Well that's the explanation in a nutshell, obviously AutoDiv was not making any money for him. Perhaps it was even failing, and it could no longer be supported. I.E. it was paying out far more than it took in. Like a ponzi scheme.

So near as I can tell autodiv is either a thief outright or was operating a ponzi scheme.

AutoDiv3 is next and people can't sell out fast enough. We pity the autodiv invetstors, but they should have known after our (and others') copious announcements.

Nxt Client Helpdesk / Computer Date Adversely Affecting Client
« on: March 15, 2015, 01:52:42 am »
Solved; see post #3

This is strange since I have a transaction number (5475805634094566084) which also shows up on NXTreporting and nxtblocks.info, but not in my client!

What's also weird is that the block height for the transaction, shown in the block explorer, is 379813 (https://nxtblocks.info/#section/blockId/3241811689794689757). But my client only shows up to block 379517!

This looks like I may be on a fork. However I've already tried re-downloading the blockchain (and I am doing so again right now) and I need a solution that takes less than 24 hours to implement. What should I do?

Sent from:Poloniex
Amount: NXT 55172.00000000
Date: 2015-03-14 10:22:57

KNS / [Phoenix] Phoenix (15610018253699198756)
« on: February 27, 2015, 09:29:07 pm »
Name: Phoenix (PHX)

Asset ID: 15610018253699198756

Supply: 10,000,000

Advisor: whale, Nxtinspect

Phoenix (PHX) is an initiative to help fund crypto startups, altcoins and other related projects. It does not pay dividends, rather it uses Net Asset Value (NAV) as a price indicator.

By supporting the crypto ecosystem, carefully selected projects are able to reach their full potential by applying for funding requests. In return, Phoenix negotiates a percentage of the projects assets.

Furthermore, other value-increasing initiatives will be undertaken; such as altcoin, mining and precious metal investments.

Phoenix aims to be one of the most well-rounded and respected assets on the NXT AE through aggressive investment decisions.


On February 27 2015 at 20.00 UTC our offering will commence.

Asset distribution:

9,000,000 shares @ 0.1 NXT will be put up for sale (6,000,000 on the NXT AE and 3,000,000 on an exchange which will be announced in a few days)

1,000,000 shares will be distributed among management

All Phoenix projects, status, holdings and grants will be listed under a dedicated board:  https://nxtforum.org/phoenix/

100 point scale: Is this asset a worthwhile investment?
Last updated: 2015-02-28

a) Does this asset have a business plan and/or prospectus? (/10)
Executive summary yes. Business plan no, prospectus no. (+2)

b) Do shares represent ownership and control? Do they pay a dividend?
Shares do not represent ownership or control, nor do they pay a dividend. (+2)

c) Does this asset provide regular financial updates to investors? (/10)
The asset issuer has stated he will provide a list of 'all projects, status, holdings and grants' on the sub-forum https://nxtforum.org/phoenix/ in the future, but has not done so prior to selling shares. (+5)

d) Is there a contract or any other form legal guarantee which protects investors?
No. (+1)

e) Is the asset issuer qualified to do what he states he wants to do? (/10)
The asset issuer has declined to discuss his qualifications (+1)

f) Is there any sort of proof that the asset is conducting business as stated? (/10)
No. (+1)

g) Does this asset provide contact information to investors? (/10)
The asset issuer has given his ID to NXTinspect but is otherwise anonymous. (+6)

h) Does the asset issuer communicate professionally and with customers and investors? (/10)
The asset issuer has a history of ignoring investor questions and insulting his investors. (+1)

i) Does this asset issuer co-operate with community ratings services? (/10)
the asset issuer is being advised by NXTinspect, but has shown antagonism towards KNS. (+5)

j) Has the asset been in profitable operation for at least one year? (/10)
Just out of IPO (+5) no other information available.

1-30: Not worth a second look; the asset is either a scam or a failure.
31-60: The asset is unlikely to succeed due to serious flaws in setup or management. Not investment grade.
61-79: The asset has problems but warrants a closer look.
80+: Pass; a more detailed analysis is suggested to clear the asset for investment.

Phoenix (15610018253699198756) scores:
2015-02-28: +29 (Comments: Primary negatives are poor investor relations, no business plan, and a lack of experience running similar assets. Likely to fail within 6 months.)

KNS / KNS updates for KPS
« on: February 25, 2015, 05:33:41 pm »

2nd pour, walls going up. Since this photo the foundation walls have been poured and the whole thing has been filled in with dirt. They're going to come back and do the first floor walls early next week.

EST looks like 5-6 months -- pretty much on schedule.

Assets Board / Record of Invisible Dividends (Sticky Requested)
« on: February 23, 2015, 04:30:27 pm »
Hello. I'd appreciate if this could be stickied.

Anyone who issues dividends using the dividend feature in the standard client knows they don't show up as a transaction in the investor's client. This is a bit problematic and it's become impossible for me to keep an accurate record of who has paid me. My balance just increased by about 300 NXT and I have no idea where it came from, nor can I find who paid me despite scouring the forums.

I would humbly ask that anyone who makes a payment this way leave a note in this thread with the following format:


2015/02/20 7179915678011028126 DailyTrade 0.00092

This will let investors have a central place to check their dividends, and will double as an advertisement for your asset. I realize it's totally voluntary but it would be a great thing to have until Jean-Luc can show these kinds of payment in the client.

Nxt Asset Exchange / 5 rules for not losing your shirt
« on: February 23, 2015, 04:21:00 pm »
5 rules for not losing your shirt.

1. If there is no business plan detailing what is going on, do not invest your money.

2. If the asset issuer is anonymous (does not wish to reveal his identity) do not invest.

3. If you cannot see regular financial statements, do not invest your money.

4. Never invest in anything which is a pure startup; if the asset issuer cannot put down at least 20% to 30% of the required capital, it's not worth investing in.

5. Never invest in anything for which your investment does not grant ownership and/or voting rights.

Some of these rules may be unpopular, but look around, every single fraud or scam committed on the NXT AE has violated multiple of these rules; Every success and continued success does not.

KNS / [ANN] SafeHash Forging Test
« on: February 15, 2015, 01:41:05 am »
I've temporarily pulled our bid orders in order to test forging. Right now, no one has sold into our bid for about a week. You can check to see for yourself that the NXT is still in the account by looking at our account balance. I'm just going to let it sit in the account and see if we forge more blocks than usual. I'll replace the bid orders within a couple of days. Let me know if you need to sell shares between now and then.

Edit: According to my estimates we should now be forging two blocks per day or more. If this is true, them bidding locks coins and prevents them from forging. In that case we will not be able to hold massive amounts of coins on the bid. But instead we will simply use the coins to repurchase shares at any price. This is probably better for the market.

Asset Exchange Technical Discussion / Staking while Bidding
« on: February 12, 2015, 08:04:48 am »
If I had 1,001 coins in my NXT account, and bid for 1,000 shares of Coinomat at 1 each, would those NXT still be staking while they are sitting on the bid? Who gets the block reward for those coins when they stake? Thanks.

KNS / The Parable of the Talents
« on: February 09, 2015, 05:20:39 am »
The Parable of the Talents

A talent, was about 20 years' wages. It was equivalent to the amount of money you would make over a lifetime of skilled labor, thus the name "talent".

Jesus said, “A rich man called his servants and entrusted his wealth to them. To one he gave five talents, to another two talents, and to another one talent, each according to his ability. Then he went on his journey. The man who had received five talents of gold went at once and put his money to work and gained five more. So also, the one with two talents of gold gained two more. But the man who had received one bag went off, dug a hole in the ground and hid his master’s money.

“After a long time the master of those servants returned and settled accounts with them. The man who had received five talents of gold brought the other five. ‘Master,’ he said, ‘you entrusted me with five bags of gold. See, I have gained five more.’ “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’ “The man with two bags of gold also came. ‘Master,’ he said, ‘you entrusted me with two bags of gold; see, I have gained two more.’ “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

“Then the man who had received one bag of gold came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your gold in the ground. See, here is what belongs to you.’ “His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest. “‘So take the bag of gold from him and give it to the one who has ten bags. For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them. And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’

What is the meaning of this parable?

The parable is an analogy for using what you have been given. The analogy is based on some very basic investment knowledge which was considered sage advice even 2,000 years ago. Yet I find myself quite disappointed to look around in this community and see that we have yet to learn this very basic lesson.

In the parable, each according to their ability was given an investment. The intent was to draw the parallel of a rich man investing in various business ventures. What does the rich man do? He splits his money between many investments each according to their ability (edit: we can assume this to be some statistic such as market cap). When the investments perform, he invests more into the successful business, again according to what it has returned. But to a business which does not perform, it is removed.

Here's a suggestion. Let's employ some self-restraint when investing. Invest in a wide swath of assets (or a fund like SafeHash 8)) and watch how your returns come in. As they do, reinvest into some of the best performing assets, and also into some of the safest assets. Do not invest emotionally and do not pay someone else to tell you where to invest. You don't need to do this. You just need to look at your returns as they come in -- something you are bound to do anyways.

This pattern of reinvesting into winning horses and putting down the lame ones, and doing so repeatedly with small amounts of money over a long period of time, is the key to becoming wealthy through investment. It is only this kind of patience, which is self-taught, and comes over a long period of time, which can make you a success. Never rely on other people to do your homework. They will invariably give you the answers they want to appear on the test and not the ones which are objectively correct.

Remember friends. Everyone talks their own book. I do it too. But it takes guts to tell you the truth, which is that it's really easy to invest on your own. All you have to do is avoid the scams, and if you read the parable of the Talents you will learn how to do so yourself very quickly. Just ask yourself, how many times you have gone all-in on something which failed. Do you blame the business you invested in for failing, or your own attitude towards investing? No one is perfect. But if you employ self-restraint and a few sage investing rules, you can do it. You can succeed.

And if you succeed, the community succeeds. NXT succeeds. This is what we need to push for. We need to be a better community than any other altcoin. I believe we can accomplish this through investor education.

Assets Board / [ANN] DailyTrade Repurchase Test
« on: February 08, 2015, 11:26:00 am »
Friends, Romans, Countrymen;

Repurchase Test
DailyTrade has sold out it's first tranche of shares. It is now time to test the self-insuring nature of DailyTrade. Although I have demonstrated that SafeHash is fully insured I have not done yet had a chance to do this with DailyTrade. The "problem" is that there's no major crisis which would make people want to part with their DailyTrade shares, so this is likely to take a little longer than normal.

Starting today, instead of reinvesting into additional assets, DailyTrade will place ever increasing bid orders starting at 1.01 per share until we have bids for all outstanding shares palced at 2 NXT per share. We will then wait a period of three days, as investors (hopefully or not) sell all their shares of DailyTrade back to us at twice what they paid.

At the end of this period, DailyTrade will pull all bid orders, pay a special dividend of 0.01 per share and initiate it's second tranche of approx. 350,000 shares @ 1 NXT per share. We estimate this process will take no more than 100 days (should no one sell into the bid).

Scam Alert! / TopSecret
« on: February 03, 2015, 05:43:03 am »
autodiv is at it again. He's issued an asset called "Top Secret" (4769948497844380946) which he has advertised only to his most loyal investors.

Who knows what ponzi-like returns he has offered people via this asset?

Please don't invest in this autodiv/"TopSecret" garbage. The only reason he is doing this is to take in the suckers who bought into his crap for everything they're worth by making them believe they are part of a special secret club. When this whole thing collapses, you will have a hard time talking about it because you were asked to keep it a secret in the beginning. This is one of the most evil ponzi schemes I've seen here.

KNS / KNS 2015 Dividend Schedule
« on: January 31, 2015, 09:20:08 am »
Should we expect december dividends?

For KNS, yes, I'd say around the 31st or the 1st, the only issue is that it's the holiday season and banks might be slow.

I am planning to pay 0.2 per share.

Dear My Friend;

Due to the amazing series of events which took place in December (NxtGlaive backing of SafeHash, closure of KPS, the collapse of LTCgear, the list goes on) we did not turn a profit in December and ended the year flat at 5.01 NXT per share NAV. Thus I decided not to pay a dividend for December 2014.

I am also officially suspending operations of the news site (nxtnews.ca) and investor resource center (nxtnews.ca/mediawiki) until April 2015 while we focus on our long-term goals.

Our long term goals are not merely a return to profitability but an institution of KNS as a permanent structure in the community. This plan is not just for KNS but for the stability of the community as a whole. I believe that Jean-Luc and the devteam have done 50% of the work by creating NXT. JL777 has done another 50% of the work instituting NXT by providing a valuable set of services. And I ambitiously propose to add the final 50% by stabilizing and instituting NXT as an altcoin from a financial perspective. Indeed, the altcoin of choice -- by going straight for the jugglar and competing directly against BTC -- something no one in any altcoin community has ever been able to do successfully.

You may ask how this is possible, after all you can't have more or less than 100%. This is true from a value perspective, but accounting for risk, smart-money investors never buy something because of what it is worth. They buy it based on what it will pay. This idea is the P/E ratio, and right now many NXT investments are at historic all-time lows in terms of P/E. My theory is if there are reliable financial guarantees in place that someone, somewhere, will buy your NXT for 1 BTC then the price of NXT goes to 1 BTC simply because anyone selling for that price gets bought out by people hoping to resell at 1. I can tell you that self-backing investments like SafeHash and DailyTrade are part of this solution, the "self-backing" aspect allows them to grow of their own accord. Using the powers of compound interest, these funds will continue to grow even without any additional input from myself. The growth may be slow, but it is real, and it is there.

Using SafeHash as an example, I can set the price to anything I choose simply by paying out an appropriate amount of money. This works in reverse as well -- SafeHash is worth 2 NXT per share but only sells for 1 NXT, because it only pays out 50% of it's income and acts like a 1 NXT investment. The 1 NXT guarantee makes it look like a normal investment company which holds a lot of cash, but because the P/E ratio to get this money (about 5 years) is outside the P/E range of the average community investment, investors don't consider the 1 NXT in cash that SafeHash has when they try to value the company. Proof? When LTCgear.com collapsed and SafeHash stopped paying dividends, we went from net sales to net repurchases across the board; SafeHash, DailyTrade, BearMining and KNS.

Our current strategy is to maintain a 50% payout ratio and reinvestment of 50%. We are attempting to increase cashflow because for us, cashflow is king, as we increase cashflow we "accelerate" the process of selling out SafeHash and forcing a market revaluation of SafeHash and KNS.

In other news. Here are January's dividends. We will stick to 0.1 for now. I would estimate our payout ratio at about 75% right now. I am estimating continued payouts at this level will be at 50% going forward. I am also pleased to announce a switch to weekly payments. Due to the extremely cheap dividend payments made possible by the new Dividend+ payment system, weekly payments are very workable for us right now. Our next payment will be 0.005 per share on Saturday February 7th. We will continue paying regular weekly dividends of at least 0.005 per share on Saturdays for the remainder of 2015.

Thank you again for your patience and support. I will continue to work hard to bring innovative solutions to NXT and to promote NXT and the community.

Transaction ID: 6045191715542545699
Date: 31/01/2015 17:53:33
Type:   Dividend Payment
Asset Name: KNS
Amount Per Share: 0.1 NXT
Height: 346542
Fee: 1 NXT

A total of 3020.9 NXT was distributed among 17 accounts which own a total of 30'209 shares.

“Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.”
― Benjamin Franklin

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