Topic: [ANN] official NovaCoin thread - the original PoS+scrypt coin. --POOL LIST-- - page 38. (Read 282664 times)

I'm currently only invested in btc/ltc but was looking at some of the other altcoins to see if any looked attractive. I noticed NVC has been trading around $5 or so for a long time, and then yesterday it randomly shot up to $20+. Just curious what's going on with this coin as it seems really unstable if this is just due to technical trading, or if there was a real event that caused the value to jump?

Dude, put down the bong. I tried to help you but I can't. Humanpsychedelic put on ignore. 

Again, those are closed orders.  BTC-e doesn't supply an API of open orders, if I am not mistaken.

You also assume a lot of trust.  If BTC-e is manipulating the market I highly doubt they would leave a trail in their publically exposed APIs.

I have a little more faith in criminal enterprise than that, especially with this much money on the line.

Link?  Proof?

Crypto is founded on being trustless.  Suspicion is healthy.

It makes no sense that any free market would be consistently less than 10%-20% FMV....unless it was being manipulated to collect fees from arb'ing.

Now suddenly one coin breaks away suddenly and for no conceivable reason, and a coin that has a history with that exchange.

If something smells like shit, it probably is.  There's too many exchanges and too many coins without that kind of baggage.

I've heard that Elvis is alive... Do not believe everything you hear and you will become immune to people's attempts to manipulate or read you.

The age of blockchain is 293 days. I think that you've just got an answer.  

is Novacoin a stable coin? Ive heard a lot of scamm etc?
Is that true? all this accusations.
Sorry but im weird atm

Novacoin hasn't been to $20 before, this is correct. I didn't mean that those orders were in the book before today. What I meant is that somebody uses a trading bot to create those orders on the fly (they would be very tedious to enter manually). He's been doing it for a long time and I don't think anybody pays much attention to it, I certainly don't. It's the big orders that move the market.

In case you didn't know it, you can view a larger part of the order book here than on BTC-e itself:

http://www.cryptocoincharts.info/orderbook.php?pair=nvc-btc&market=btc-e
http://www.cryptocoincharts.info/orderbook.php?pair=nvc-usd&market=btc-e

BTC-e got the "premine" then publicly destroyed it.

If there was no pre-mine then BTC-e isn't currently sitting on $2.5mil USD in novacoin for which they created the value... amirite?

Or BTC-e is lying about Novacoin developers bribing them to offer NVC on the exchange.

Which is it?

Try to dedicate some time for reading the topic before posting here.

The only thing I see is the half dozen kids suffering from extreme butt hurt, and nothing more.

https://bitcointalksearch.org/topic/m.3042727

By the way, the uncovering of own nationality would be logical. Of course, if this really matters for you.

Try again better, and may be you'll be able to buy some cheap NVC. If I am wrong here and you are not a dump scammer but truly believer, then try to join the Flat Earth Society. It is obvious that your joining request would be accepted without any problem, they glad to see any new conspiracy supporters.

glendall
pankkake

The scrypt usage is not innovation (that's why Litecoin offers no innovation, unlike TBX).

Actually we are not pretending to develop something innovative. We are using bitcoin 0.7 with the transparent leveldb layer implementation as the codebase for our project, and trying to

1) promote the proof-of-stake/proof-of-work hybrid design;
2) implement the rewarding system which would be able to maintain the long-term proof-of-stake system stability through the self-regulation;
3) bypass some PPCoin flaws in our proof-of-stake implementation, in order to make it truly decentralized hybrid design.

And I presume that we are succeeded in this. We are also using checkpoints, for example, but that's really not necessary. Network is able to provide enough security without this subsystem.

Here's my humble opinion: I like to think of Novacoin as Bitcoin, Litecoin and PPcoin done right. Each of those coins does something right, but only Novacoin does everything right. 

I really enjoy reading some butthurt red color nonsense.

Where you going for sarcasm here ? I'd be surprised if it was by pure accident or not any knowing better that each point you made is incorrect.

1)NVC has a market cap of over $11 million now.
2) NVC has a normal volume traded considering it is a savings-encouraging coin.
3) There is demand for it. If you think the owner of BTC-E is buying his own NVC at increasingly higher rates to increase the price, well, your gonna need some sort of evidence beyond just your idle speculation.  Are you also ignoring that NVC is traded on 6 exchanges? Sure most of the volume is on BTC-E, but do you think Vircurex and Crypsty are in this Novacoin conspiracy?
4) NVC is an innovative mix of scrypt/pos/pow. It is one of the older, more original alt's. NVC has itself been copied hasn't it, into Bitbar (don't quote me on that).  
4) Premined coins were destroyed. 95% is wildly inaccurate.
5) I've been mining NVC for many months with my remaining 2 gpu's I kept and bought a couple dozen NVC when it was 3.50.  Am I a fool?  
6) You can not seriously suppose that 'scammers' are doing all the trading with themselves, driving the prices, that is silly. And hey sure may even a big pump and dump right now going from 5 to 20. But people trade coins in the open market and the market is liking NvC, and that is why it is at the price it is, simple as that.

Sorry guys,  guess I shouldn't feed the trolls....

Wrong. I bought my Novacoins when they were cheap because of FUD like this. It's been very profitable. 


Wrong again. Novacoin has low volume because most people mine it for proof-of-stake instead of trying to make money by trading it. The recent price rise is because people want to diversify out of Bitcoin. Most altcoins have risen and Novacoin is no exception.

Novacoin has no fundamentals. It has no market, no volume, no demand. It offers no innovation. The only thing it has going for it is that the half dozen Russians that premined it own 95% of all the coins and collude to control the price. If you're not one of them and you choose to own this coin, then you're a fool.

And the market does not want lots of Novacoins. The order books are completely bare. The scammers just sell the coins to themselves making it look like there's demand to sucker in the noobs.

Novacoin has some good fundamentals. I thought it was much undervalued last week. It always traditionally was around 0.02 or at least more than LTC so glad to see it come back to it's position.  Though ya, the spike and height it has reached from the recent boom is certainly surprising.  I was guessing more along the lines of 10-15$ but hey, the market wants lots of Novacoins.

Honestly less surprised to see NVC at over 15$ than I am at seeing NMC selling for 7 bucks. Pretty nuts stuff.

I think this is a fundraiser for BTC-e in anticipation of BTC reaching over $1,000.  A lot of folks are going to cash out and cash out big.

I wouldn't be surprised if the Novacoin price collapses today.

$25... ridiculous.