NXT :: descendant of Bitcoin - Updated Information

[Come-from-Beyond]

sent 6d0f9259f72bd0cd5c150cf96b7d1fec9108675dc999cea9c7538e9003c57afd

Tx: 7070041666925774132

[Come-from-Beyond]

If you put it as bitcoin, fund will be worth less as price of Nxt rises...

It's much harder to find someone who will do the audit if paid with NXT. This is the reality.

[utopianfuture]

If you put it as bitcoin, fund will be worth less as price of Nxt rises...

It's much harder to find someone who will do the audit if paid with NXT. This is the reality.

I think wesleyh said about remaining fund. No one talked about it yet. But I think it could be sensible to convert apart of the remaining NXT unclaimed to Bitcoin. If only for diversification and risk management. Furthermore, we may need other BTC-based bounties as this review bounty.

[jl777]

Let's say there is 10 million EMU at ten cents and an order for 1 million EMU in excess of supply appears. Then the network automatically creates 1 million more EMU to satisfy the order, 500,000 to existing holders and 500,000 to hatchers. This is what confuses me.
 
So we have a new buyer who wants to buy, but the new EMU is going to existing EMU holders and hatchers. Where does the new buyer get the 1 million EMU from?
 
Separately, we now have 11 million EMU (presumably), but the original EMU holders have 10.5 million, so their share went from 100% to 95.45%
Is the price charged to the purchaser increased by ~5% so that the value of the 10.5 million post purchase EMU is about the same as before the purchase?
 
How can all these mechanisms be stabilized? It would seem that under any sort of real world supply and demand scenario, the market value will oscillate and the reality is that the original EMU holders will continue to get a smaller and smaller share. In order to maintain their ownership percentage, they would need to continue purchasing EMU continuously. It almost seems designed to create an unsustainable price feedback loop.
 
Please explain mathematically how the adding of new EMU into the system doesn't dilute the prior EMU holder's value.

James

P.S. I don't expect you will answer this as there seems to be a pact of silence around this issue. I have asked this question in half a dozen emunie forums, without any responses.

1. If you buy 1 million you get it from another user. Like it works in bitcoin and nxt.

2. In the moment you buy or exactly after you buy that 1 million, the system creates another 1 million (They don't tell exactly when). 0.5 for the users and 0.5 for hatchers. This money will be created by the hatchers and get distributed via mediators (looks kind of centralized but in emunie they don't speak about this...)

3. Yes, your shares goes down in percentage. In the long run you will have about ~50% of the initial percentage you owned in the start. So for taking profit is no that good for the investor, you get 50% profit when it works but, you take 100% loses if system goes down...

4. I think this system is stupid and broke. Because when price goes down EMU price will change (because they don't take EMU back), so it is completely useless.

5. Pump&Dump is great for hatchers they get 50% of the new rising market. Imagine going up from $10M to $50M... hatchers get $20M LOL  
So it will end like bitcoin, all the people will set up lot of hatchers there will be pools and it will be centralized (or maybe this won't be possible IDK), but for sure it will be a huge waste of power and hatching race.


Now can we focus in NxT?

I don't think your answers are what happens, that is why I wanted someone who knows the details of emunie to answer. The key part of my question is that there is an order in EXCESS of supply. Basically a large buy order comes in, but the orderbook is not able to handle it. Instead of taking out higher and higher prices, the system seems to automagically create EMU out of thin air (just like fiat!) and fill the order. Clearly this will stabilize the price, but without knowing what the parameters are, it is impossible to model.

Based on what I read, I think the original EMU holders of 10 million EMU could end up with <1% EMU if 990 million EMU are purchased. Now all of the new EMU gets created (hatched from eggs?) at some price point based on some formula. Again, no amount of digging allowed me to find out any details of these most critical aspects of emunie. It does seem to have a userbase about 10% the size of NXT, it does seem to have a user friendly client, it does seem to have a lot of features in common with NXT, it is even using same version of JRE.

emunie peoples, I am not attacking you, I just want a straight answer so I can model what EMU price behavior will be. Maybe I might even invest! From what I have read it almost seems that if there is any reasonable amount of buy side volume, the system can arbitrarily set the price. I just am not smart enough to figure out how if the money supply is created to match peak demand, that it wouldn't simply fall during other times. Is there also a mechanism to support the price? What about dilution of existing EMU holders? How does an EMU holder control his hatching to maximize it? So many questions, all I get are videos of user interface and beta testers testimony that it is the greatest thing since sliced bread.

Has anybody modeled what happens to the EMU system under large scale use?

James

[Come-from-Beyond]

I think wesleyh said about remaining fund.

Ah, the rest will be in NXT of coz.

[Come-from-Beyond]

Hi CFB, I received my NXT - thanks a lot! Are you up for another transaction?

I will send 0.769 BTC from 12x9L6CxJNrXUGBQvFp9Z18cDvaThvU6Ry and I would like the NXT delivered to the same address as before: 784396807537989101.

Only 0.559 BTC can be sent to get 13'000 NXT.

[salsacz]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

[salsacz]

yeah, today was registered playmate, a few days ago I registered iPad2... but still I wonder if we can sell those aliases some day

[Damelon]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

Were these registered by the account that registered almost all the pornsite names?

Oh, and basically all sexual actions that are covered in porn? 

[lurning]

@CFB can I get NXT for 0.14 BTC?

[salsacz]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

Were these registered by the account that registered almost all the pornsite names?

Oh, and basically all sexual actions that are covered in porn? 

It was registered by Graviton, he owns 10x alias with ...sex, 5x with ...porn, 5x with ...f*ck and probably some of his other sexual activities, like harrypotter

[mcjavar]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

Were these registered by the account that registered almost all the pornsite names?

Oh, and basically all sexual actions that are covered in porn? 

Not all, I tried to grab some, too
Porn is money! Porn is continous. There is no Porn2, iPorn2 or Porn360. Just porn. And that makes it such a big business to own domains (and hopefully aliases) associated with porn/sex

[pinarello]

We could use multisigs to control unclaimed coins converted into bitcoins. Where could I get software that handles this?

Can I have one of the keys?

Community decides. And don't count me as one of the holders, plz. I hate such kind of work.

feature anonymouse multisig would be nice. randomly without knowing....

[Damelon]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

Were these registered by the account that registered almost all the pornsite names?

Oh, and basically all sexual actions that are covered in porn? 

Not all, I tried to grab some, too
Porn is money! Porn is continous. There is no Porn2, iPorn2 or Porn360. Just porn. And that makes it such a big business to own domains (and hopefully aliases) associated with porn/sex

I only know because I tried to grab them, too, but was two days too late

[pinarello]

Did you know? On 22 December 2013 were created 12 aliases with a word "f*ck" in it, but word "f*ck" was registered next day?
 

Were these registered by the account that registered almost all the pornsite names?

Oh, and basically all sexual actions that are covered in porn?  

Not all, I tried to grab some, too
Porn is money! Porn is continous. There is no Porn2, iPorn2 or Porn360. Just porn. And that makes it such a big business to own domains (and hopefully aliases) associated with porn/sex

I only know because I tried to grab them, too, but was two days too late

I have some in dutch that is.

[LiQio]

We could use multisigs to control unclaimed coins converted into bitcoins. Where could I get software that handles this?

Can I have one of the keys?

Community decides. And don't count me as one of the holders, plz. I hate such kind of work.

I'm sure you really love selling Nxt in chunks to accumulate the 10 bitcoins!

Long live Come-from-Beyond 

[mcjavar]

You can give me some NXT for another NXT press release if you like 

Last one was on Yahoo Finance and over 300 other news outlets.

EDIT: bybitcoin and I had a series of misunderstandings, but I have decided I would still like to promote NXT if possible.

too late, after you wrote:

So at this stage I am not doing any further promotion for NXT.

If anyone wishes to co-ordinate another PR campaign for NXT and has the maturity to come to an actual agreement regarding this, please just let me know.

After I read that, I took the PR campaign and now it is lead in a separate thread. We need only loyal people for this

I have a large stake in NXT and would like to help - it is bybitcoin that I cannot work with, not NXT.

You have a large stake in Nxt, so it is also in your interest to promote it. A lot of people are working hard promoting Nxt or developing the community and/or the product. We don´t get paid for it. Yes, sometimes we try to crowdsource some ideas or some activities, but we do not expect someone else to do it.

If you would like to get 0.5 BTC for an article (although it is also in your best interest to spread the words), then please start a fund and go for it. I am sure a lot of us will contribute. But please don´t expect others to collect money to get you paid a salary for promoting Nxt so you can make yourself rich by publishing articles. It´s like working for a company where you have a lot of shares in and you expect other employees to pay you, otherwise you won´t do your job...

Ofcourse, you can watch from the sideline, bit if I would have such great connections and would be able to make PR, I would do it without asking for a salary. Especially if it is in my best interest and even if I am not 100% convinced about the product itself. Do it for your own money!

[Come-from-Beyond]

Great, 0.559 sent! Thanks!

Tx: 3074468426693266276

[Come-from-Beyond]

@CFB can I get NXT for 0.14 BTC?

10K NXT is min. Sorry.

[jl777]

simpleGateway has been updated: https://ripple.com/forum/viewtopic.php?f=1&t=5415

It now has some simple charts and also supports NMC and PPC.

You can go to https://peercover.com/#/simpleGateway select NXT and see the latest bids and asks

Currently at bid 2.25 XRP and ask 2.69 XRP
With BTC at 40000 XRP, that is a bid of .00005625 and ask of .00006725

just need to divide the XRP price by BTC to convert to NXT/BTC, eg 2.25/40000 and 2.69/40000

This is more than 20% higher than at any other exchange, so we need more sellers at lower prices. All of the NXT below .00006725 has been purchased.

James