This is taken from the
http://www.bloodyelbow.com/2014/7/4/5869925/jon-fitch-wsof-11-ufc-fixed-fights-fake-worked-nautiluscoin-palhares-bitcoin-cryptocurrencyJon Fitch talks about naut
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For all the problems Bitcoin has had, it is making a strong comeback, and more and more companies are accepting it now. The thing with Nautiluscoin is that it's designed to be more user-friendly for merchants than Bitcoin. Bitcoin transactions will take about 10 minutes to process, but Nautiluscoin only takes 60 seconds. It's better than using a credit card because it's person to person, so you don't have to worry about it being fraudulent or pay the extra credit card fees.
There is that risk that it will tank and you'll be left with nothing, but I'm willing to put a gamble on it that it's going to pay off big. It has already shot up a bit from those who have bought into the sponsorship. I call it an investment opportunity for the fans; If you bought in a week ago you would have almost doubled your money. It was at 11,000 or 12,000 Satoshi (A Satoshi is a measurement of cryptocurrency value related to the value of Bitcoin. One Satoshi is equivalent to the smaller amount of Bitcoin that can be sent: 0.00000001 Bitcoin) and now it's worth about 22,000 Satoshi (as of July 4th some exchanges are valuing Nautiluscoin as high as 30,000 Satoshi), so it has almost doubled in that time.
They're also doing something called POS, proof-of-stake, which they're trying to implement before the fight, which makes the currency more rare and more valuable. So it's a one-two combination of that and my sponsorship, so the price should shoot up again. In the short time people who invest in that sponsorship opportunity should make some decent money off of it.
The deal is that I'd be sponsored for my sponsor minimum, which was covered by Brian Kelly who is on the show Fast Money' on CNBC. He is the creator of this coin, and he covered the minimum, then we set up a tier system that lets fans buy Nautiluscoin and invest it in sponsoring me in order to get to the next tier, and more money meant a bigger sponsorship. The fans invested the money to get me up to tier 3, so I covered the rest and got it up to tier 4, which was the equivalent of a $10,000 sponsorship.
That gives Nautiluscoin prime real estate; they'll have a huge spot on the banner, a spot on the ass of my shorts and a t-shirt ad. People were able to invest in me and in the coin in the hopes that my sponsorship gets the attention of so many people that other people want to buy and accept the currency. If they would have bought it on that Friday when I first announced it, they would already have almost doubled their money.
The other reason I did this is that I've had such great support from my fans that I wanted to get my fans paid too; why should my sponsor and I be the only ones to make money out of it? Why shouldn't my fans make money?
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Fitch is onto it =)
