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wakasaki808
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December 26, 2013, 08:56:19 PM |
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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. I don't see a problem either. The price will meet the equilibrium if it goes lower than the the market demand for it. The selloff just means more people can invest in Nxt. |
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ZeroTheGreat
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December 26, 2013, 08:56:31 PM |
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Can this info be extracted from the blockchain?
Yep. Transparency. All txs are there, all balances can be calculated. |
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gbeirn
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December 26, 2013, 08:57:28 PM |
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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? Who knows? But it is all there. Someone (perhaps yourself) could make a website which shows the 'richlist' so to speak. |
NXT VPS Server Donations can be sent here: 6044921191674841550At the end of each month I will donate some of them back to the community. This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting. |
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ZeroTheGreat
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December 26, 2013, 08:58:31 PM |
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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. Free some % NXT, low price and sell some % NXT, higher price and sell some % NXT, higher... A way to give your own 100-%-%-%-... NXT biggest value. That's not a simple strategy, I suppose. And yes, in process of giving-selling try to calculate how many NXT you'll need for profitable forging. Do the math to get to the Moon  |
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wakasaki808
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December 26, 2013, 08:58:36 PM |
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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? Well according to what I read, a stakeholder is anyone that owns ANY Nxt. So you, me and everyone else invested are a stakeholder. The founding members can be seen on http://87.230.14.1/nxt/nxt.cgi?action=34 where it shows the top account holders of Nxt. I do know some of the founding members aren't in the top accounts anymore though and sold off much of their Nxt to spread the distribution. This is in essence the "Rich List" of Nxt  |
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newsilike
Sr. Member
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Activity: 630
Merit: 262
This account was hacked. just recently got it back
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December 26, 2013, 09:01:43 PM |
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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? No your stating your own conspiracy. |
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greyw00lf
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December 26, 2013, 09:02:31 PM |
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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.
That's some good points. But if it were as you are saying, then the distribution will NOT work and NXT will fail due to this reason! And that should be in the mind of all big stakeholders. Although it sounds nice to have a "green miner" that forges you a lot of NXTs, maybe there are some initial investors who just want their profit and they are just waiting for a specific price. Maybe the don't want to forge for years. Take their money and be happy. Just some thoughts for Xibei's Principle  |
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yuriygeorge
Sr. Member
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Activity: 262
Merit: 250
I hate my family
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December 26, 2013, 09:02:48 PM |
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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. I don't see a problem either. The price will meet the equilibrium if it goes lower than the the market demand for it. The selloff just means more people can invest in Nxt. Yes, but if you want to see a more legit distribution, I want to see the price hit back to .000001-9 range, before I consider investing. That's still 5,000-40,000% higher than original 1 billion coins paid for. And 5000-40000% return for the risk they put in ($4,000 collectively) is pretty damn good still. |
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bitcoinrocks
Legendary
Offline
Activity: 1372
Merit: 1000
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December 26, 2013, 09:03:52 PM |
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Thank you! I am very happy to see this. I hope a math expert will develop a formula to calculate the degree of distribution of Nxt. Something that will spit out a single number so we can see if the degree of distribution is improving over time. Of course, someone could have multiple accounts so it would really just be a degree of distribution amongst accounts, not amongst people. |
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ZeroTheGreat
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December 26, 2013, 09:04:41 PM |
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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.
I'm guessing it's anti-spam feature. |
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laowai80
Member
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Activity: 98
Merit: 10
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December 26, 2013, 09:04:57 PM |
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I want to see the price hit back to .000001-9 range
Yeah, I want it too |
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maxidoge
Member
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Activity: 70
Merit: 10
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December 26, 2013, 09:07:10 PM |
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lol 70 people has premined all nxt.
What do you want? only 1-3% is on trade.
97% they hold.
So price is the total bullshit, "Artificial Scarsity".
Market is totally controlled by 70 people, ideas are great but this distributed premine - totally SCUM coin.
Only 1 of them can drop the price to 0.
Now they are selling slowly little %, after some month/year(if nxt will be still alive), they will be close to limite when can loose control, so they will drop the price and buy all coin at cheap price that before they sold.
Haha, nice.
I must say they created the most beatiful scum model i have seen so far in world of crypto coins.
If nxt will be popular in future - at the moment of drop it will be the biggest scum ever, top 1.
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wakasaki808
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December 26, 2013, 09:07:32 PM |
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I want to see the price hit back to .000001-9 range
Yeah, I want it too If it hits back to .000001 BTC again per Nxt...I am buying a lot more Nxt... lol  |
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ZeroTheGreat
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December 26, 2013, 09:07:48 PM |
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I want And I want all good and no bads Santa, come on! |
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laowai80
Member
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Activity: 98
Merit: 10
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December 26, 2013, 09:08:29 PM |
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I want to see the price hit back to .000001-9 range
Yeah, I want it too If it hits back to .000001 BTC again per Nxt...I am buying a lot more Nxt... lol Reality is cruel though |
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ZeroTheGreat
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December 26, 2013, 09:08:54 PM |
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lol 70 people has premined all nxt. Incorrect. They bought it. And coins were a lines of code + an idea, nothing more. |
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starik69
Legendary
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Activity: 1367
Merit: 1000
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December 26, 2013, 09:09:25 PM |
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lol What do you want? only 1-3% is on trade.
97% they hold.
Market is totally controlled by 70 people,
From what ass did you get this numbers? |
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wakasaki808
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December 26, 2013, 09:10:19 PM |
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I want to see the price hit back to .000001-9 range
Yeah, I want it too If it hits back to .000001 BTC again per Nxt...I am buying a lot more Nxt... lol Reality is cruel though I could have gotten 5x as much Nxt as I currently did when the price was at .000001 ...just that Coinbase took a WEEK to transfer my USD to BTC...  |
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