NXT :: descendant of Bitcoin - Updated Information

[wesleyh]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

[timmyd]

Also, everyone knows

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

+1 always happens to me. Sell then price goes up :-/

[ZeroTheGreat]

Stop buying these coins so high.

People, buy high, sell low. No thinking required!  

[bitcoinrocks]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

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.

I'd also love to see this.  Can this info be extracted from the blockchain?

[laowai80]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

I guess $0.10 per coin was their first sell target.

[opticalcarrier]

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.

OK you guys keep on for now as planned.  for now i wont be in on the testnet, i believe i can design a private net for us all to test on.  it will require everyone to change IPs later though.

would be a good idea for you guys to get it running now, just be ready for the storm.... give me a week or 2 and I should be able to whip something up.  Im a forums admin so i can create private groups etc for us to converse privately in.

just give me a bit of time

[Come-from-Beyond]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

That's good. We can lower min fee (to 0.01 NXT) a few weeks later then.

[newsilike]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

We don't need panic machines like you around here, go to the quark guys or something.

[wesleyh]

Price is now below 0.0001.

[laowai80]

Price is now below 0.0001.

good, just another 1000% to go lower

[wesleyh]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

We don't need panic machines like you around here, go to the quark guys or something.

I'm simply stating facts?... Anyway, what have you done for nxt?

[wakasaki808]

Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

The more lower it goes, the more I am willing to buy   

[ZeroTheGreat]

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"

Wow. U're formed some of my thoughts into conception. Exactly! That 10M, 20M... is just like ASICs. "GreenASICs"   Anyway world needs crypto, NXT just superior to other options (at least, for now).

[yuriygeorge]

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.

+1. And the herd of sheep can't do simple math and think 10 cents is cheap, when you're talking about all 1 billion coins, and that it's at 600,000% at what was originally put in.

[bitcoinrocks]

Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.

[gbeirn]

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

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.

I'd also love to see this.  Can this info be extracted from the blockchain?

Of course, everything is in the block chain.

[wesleyh]

Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.

Yes, but too much of a decrease in price will look bad in the eyes of others.

[bitcoinrocks]

Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.

Yes, but too much of a decrease in price will look bad in the eyes of others.

I still don't see the problem.  The *only* real complaint I see about Nxt is distribution.

[yuriygeorge]

Don't worry the exchange has price controls where it won't allow the price to move or for legitamate buyers to put an order in for over +/-30% in each direction.

[bitcoinrocks]

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.

I'd also love to see this.  Can this info be extracted from the blockchain?

Of course, everything is in the block chain.

Do the original stakeholders keep their Nxt in 73 accounts?  If so, do we know which accounts?