NXT :: descendant of Bitcoin - Updated Information

[greyw00lf]

I really doubt the price will come down.  I'd expect it to settle down at a much higher level that where we are currently.

Not if some stakeholders of 50-100million NXT are selling everything in a short time, you know supply and demand

In terms of spreading of NXT among new users, tons of selling is already going on, but the price keeps climbing.

Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

[starik69]

incredible, last time i said i have to grab my surfboard for this nice wave
but i changed my mind, i am switching over to mountain gear now,
even if this is not my preferred outdoor activity.  

http://87.230.14.1/nxt/nxt.cgi?action=2

Something wrong here

Code:

Avg. Unit Price
Day : 29	 0.00012127
Day : 28	 0.01430194
Day : 27	 0.00005272

[yuriygeorge]

There will be panic sell, because the price will go back to December lows, closer to 0, due to constant huge DDoS and other attacks. Many stakeholders will panic sell for fear to lose all and will try to make at least part of their financial dreams to come true by trying to sell before others. When price gets to close to 0 again, that's when real distribution starts. We haven't seen nothing yet. My prediction anyway, take it with a grain of salt

I think so too. We will see a bigger drop in the price sometime, maybe sometime soon. Some of the current NXT buyers just want to make some quick money and will start to dump, or maybe one of the first-stakeholders will sell all their (millions of) NXTs. I hope NXT will survive this pricedrop.

Anyway if one/some first-stakeholder(s) will sell all their NXTs it will be good for the NXT network, it will stabilize the price after a bumpy ride because a wider distribution of NXTs.

I really doubt the price will come down.  I'd expect it to settle down at a much higher level that where we are currently.

In terms of spreading of NXT among new users, tons of selling is already going on, but the price keeps climbing.

NXT is a highly disruptive technology and everyone gets the big picture.  10 cents is a bargain.

Disagree, in September/October, the early adopters pitched in 0.00000021 BTC for all 1 billion coins. Now they're going for 600,000% what they originally paid for.. And this was in just 1 month. For something that's not open sourced yet, and unproven theory. This is highly overvalued. The early adopters are all probably hoarding the coins and only a few are being sold on the market, thus causing scarcity. And people can't do simple math and don't even realize that's what they're paying for these 1 Billion coins that already all out in circulation.

People are just not aware.

You should move to North Korea. Being there you can really take care for other people.

Just trying to get these at a more deserving price.

I predict there will be mass sell offs around January 3rd. I'll buy some more then. Also am enjoying the ride a little until then.

[gbeirn]

Regarding TESTNET:

Please anyone interested start to co-ordinate! I don't have time to manage this at all, I want a united team to fund only.

Would be 100K be sufficient? Too low? Too high?

Decide how you will co-operate and who is gonna receive the money...

What is the testnet for this time?

General testing of features as they come out. Testing anything really.

Why don't we use the testnet we used lastime for testing alias system? There are testcoins which can be issued. Cfb was responsible for the last testnet.

Sure we can! I don't know if it needs more nodes etc.
Does it need administration? By whom?
We need a team dedicated I think..
(CfB has more important tasks atm)

Ok, I have one testnet server setup at : https://162.243.81.243:6875/

Can you be the proxy in this effort?

Certainly! I may be more useful in this as NXT grows since I still have a full time job.....hopefully not for long

Regarding TESTNET:

Please anyone interested start to co-ordinate! I don't have time to manage this at all, I want a united team to fund only.

Would be 100K be sufficient? Too low? Too high?

Decide how you will co-operate and who is gonna receive the money...

The good news is that for a test net, we can prob get by with min spec VPS.
https://www.budgetvm.com/account/cart.php?a=add&pid=254

def should keep the group small and very private to keep DDOS out.

Im in for a few VPSs

Ok you two maybe need to start a new thread (post link here) and tell me what expenses will be needed for the infrastructures, how many people will be involved etc so I can make decisions on the rewards.

Also we will post this in the BOUNTYS thread too in case we can gather more funds from other stakeholders..

Here is the new thread: https://asktom.cf/index.php?topic=386304.0

I don't personally require any donations at this time. I can fund it out of my own expense and previous donations at this time.

[Come-from-Beyond]

Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

[greyw00lf]

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

Maybe, we'll see

[starik69]

And people can't do simple math and don't even realize that's what they're paying for these 1 Billion coins that already all out in circulation.

People are just not aware.

So you think you are far far more clever than other people, yes?  And came here to teach us?

[utopianfuture]

Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

It also depends on how much Nxt you have and your appetite for risk. If I am holding 20million + Nxt right now, I will probably sell some eventhough I have a very high expectation for Nxt. But since I have much less than that I am going to sit tight at least until 1Nxt = 0.001 Btc.
So as times goes one, we will gradually have a more equal distribution of Nxt.

[nexern]

There will be panic sell, because the price will go back to December lows, closer to 0, due to constant huge DDoS and other attacks. Many stakeholders will panic sell for fear to lose all and will try to make at least part of their financial dreams to come true by trying to sell before others. When price gets to close to 0 again, that's when real distribution starts. We haven't seen nothing yet. My prediction anyway, take it with a grain of salt

I think so too. We will see a bigger drop in the price sometime, maybe sometime soon. Some of the current NXT buyers just want to make some quick money and will start to dump, or maybe one of the first-stakeholders will sell all their (millions of) NXTs. I hope NXT will survive this pricedrop.

Anyway if one/some first-stakeholder(s) will sell all their NXTs it will be good for the NXT network, it will stabilize the price after a bumpy ride because a wider distribution of NXTs.

I really doubt the price will come down.  I'd expect it to settle down at a much higher level that where we are currently.

In terms of spreading of NXT among new users, tons of selling is already going on, but the price keeps climbing.

NXT is a highly disruptive technology and everyone gets the big picture.  10 cents is a bargain.

Disagree, in September/October, the early adopters pitched in 0.00000021 BTC for all 1 billion coins. Now they're going for 600,000% what they originally paid for.. And this was in just 1 month. For something that's not open sourced yet, and unproven theory. This is highly overvalued. The early adopters are all probably hoarding the coins and only a few are being sold on the market, thus causing scarcity. And people can't do simple math and don't even realize that's what they're paying for these 1 Billion coins that already all out in circulation.

People are just not aware.

if you are using this kind of logic, the attackers should stop blocking e.g. dgex immediatly, because dgex is an important
distributor, able to clear at least one point you have mentioned above but they don't and therefore preventing broader distribution,
so perhaps you should ask them to get an usefull answer on this.

[yuriygeorge]

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin

current market rate is about 0.00013 (6000x)

To those are who are buying these coins... most of the coins are being hoarded, so you can only buy them on the market for 6000x or 600,000% of what all of the 1 billion coins were paid for at genesis. The early adopters are being greedy, selling them at such a high rate for an unproven technology that hasn't been open sourced. Also, the exchange enforces a minimum order price. They're all already out in circulation, they collectively paid $3000-$4000 for them in September/October. And only a fraction is being sold on the market, at 600,000% premium.

Stop buying these coins so high.

[gbeirn]

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin

current market rate is about 0.00013 (6000x)

To those are who are buying these coins... most of the coins are being hoarded, so you can only buy them on the market for 6000x or 600,000% of what all of the 1 billion coins were paid for at genesis. The early adopters are being greedy, selling them at such a high rate for an unproven technology that hasn't been open sourced. Also, the exchange enforces a minimum order price. They're all already out in circulation, they collectively paid $3000-$4000 for them in September/October. And only a fraction is being sold on the market, at 600,000% premium.

Stop buying these coins so high.

People want what they want, clearly no one would buy if they didn't think they had value/potential/whatever to them. Maybe they think that's a bargain. You seem upset that you initially missed out. Post an address and I'll gladly send you some!

[xibeijan]

Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

I've been thinking about it... wondering why the major stake holders sell so slowly.

Then I realised, that unlike BTC, major holders of NXT are not inclined to sell much.  Why?  Because the NXT they hold is their "mining/forging hardware".  They will just continue mining and selling what they mine.  Perhaps they will sell a few million or hundred thousand here and there, but they will hold onto most of it.

Call this "Xibei's Principle".

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking
b) their NXT is their "mining hardware"

Additionally, unlike BTC, where you must keep buying more and more mining hardware to compete with increasing difficulty and other miners.  With NXT, your holding of NXT always pretty much mines you the same amount, no matter how many more people start mining.  There's no need to reinvest into more "mining hardware".  They would only sell at a very attractive price, and the price they have in mind will have the decentralised exchange in mind, probably like $10 per NXT.

Oh, and unlike BTC and other energy hungry proof-of-work systems where you mining hardware depreciates and must be replaced (as it get's older and slower and burns out), NXT's virtual "mining hardware" (aka your NXT holdings), appreciate in value.

So, that's why major stake holders don't sell fast and the market will not shake and the price will keep climbing.  They will just sell whatever they mine, a bit at a time.

NXT is genius.

[wesleyh]

Price is dropping on dgex.

[Come-from-Beyond]

Stop buying these coins so high

...and let me do it instead of u

[visaco]

dgex didn't charge you fee to move your coins from your count to your local wallet ...nice

by the way
how much cost this car today?



----------------------------------
nxt : 2325804792485290058

[laowai80]

So, major stake holders are not (and will not sell much) because

They will sell, so save some ammo for January and later, there'll be good opportunities to buy lower than now. I hope I will be proved wrong. But I just don't see how all this gets going where it's supposed to go without a lot of pain.

Prepare for the worst, hope for the best, as they say.

[newsilike]

1,000,000,000 (1 billion) initial coins
73 initial adopters
so roughly 13.7 Million each (assume equal distribution)
at 21 BTC Total
0.000000021 BTC per coin

current market rate is about 0.00013 (6000x)

To those are who are buying these coins... most of the coins are being hoarded, so you can only buy them on the market for 6000x or 600,000% of what all of the 1 billion coins were paid for at genesis. The early adopters are being greedy, selling them at such a high rate for an unproven technology that hasn't been open sourced. Also, the exchange enforces a minimum order price. They're all already out in circulation, they collectively paid $3000-$4000 for them in September/October. And only a fraction is being sold on the market, at 600,000% premium.

Stop buying these coins so high.

The possibilities NXT offers are incredible.
That's what you pay for.
And a higher market cap then litecoin is much likely.

[xibeijan]

Also, everyone knows

First rule of crypto - don't sell too soon.

[Come-from-Beyond]

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking

....

Hm, I should stop telling about new features...

[xibeijan]

It also depends on how much Nxt you have and your appetite for risk. If I am holding 20million + Nxt right now, I will probably sell some eventhough I have a very high expectation for Nxt. But since I have much less than that I am going to sit tight at least until 1Nxt = 0.001 Btc.
So as times goes one, we will gradually have a more equal distribution of Nxt.

Why BTC-centric?  I have some BTC, but they just sit on an SD card.  Doing nothing.  Been bored since I moved them off (for tax reasons).  Nxt has been quite interesting thus far.  Aliases, Messaging, Colored Coins - Oh my!

Expand functionality or die.

Gordon Brown, is that you?