Nxttycoin is the Asset for Nxtty, a new and cryptocurrency-enabled chat app. Starting quickly out of the gate, its downloads have slowed for the moment as the dev focusses on making the UX better, more intuitive and more fun. Nxttycoin itself has slowed down, currently lumbering sideways between 200 and 250 satoshis after its out-of-the-gate excitement faded. But Nxtty itself is a neat app, with a whole bunch of friendly people to connect to. You'll have a lot in common with them.
As for NFDNxtty, one of the plagues of Asset Exchanges these days is the illiquidity which makes slippage such a pain. I'm creating 100'000 NFDNxtty Assets - backed fully by Nxttycoin in this dedicated account, as you'll see at the bottom of its block explorer page - but I will only be offering 50'000 at most to start. The offering price will be matched to the low ask for Nxttycoin in the Nxt AE. The rest will be held in reserve so as to offer more when market conditions change. In addition, I'll be placing buy orders tracked to the high bid for Nxttycoin on the Nxt AE. As you can see by checking my account in the NFD Block Explorer, I have ample NFD to place a more-or-less fair buy order. I can't outright promise this - I have to eat and sleep sometime
- but I will do my best to adjust the asks and bids to match the orderbook for Nxttycoin in the Nxt AE. If you buy or sell a haunch of NFDNxtty, you'll likely get a fair and close-to-current price Yep, even if Nxttycoin takes off. 
Announcing...
NFDNxtty!
100'000 Issue, Fully Backed
Redeemable On Demand
Buy, Sell Order From Issuer
Matched To Nxt Asset Exchange
NOTE: NFDNxtty is issued independently of Nxtty. There is no relationship between me and the Nxtty crew.
Bursting out of the globe-spanning skunkworks in the Nxt ecosystem, Nxtty is a neat little chat app that you can waste a lot of time with.
In addition to private chats with contacts you've invited, Nxtty has many public-chat channels and news feeds that'll give you the headlines and items to talk about. The public chat is organized like a bulletin board: state a subject and read others' comments to it. It's a great way to pick up contacts for very secure private chats!Right now, Nxtty is available in Android. Just open up Google Play, search for "Nxtty," and you'll find it. It's a quick download if you're on LTE. Click this link and you'll see what it offers.
As for what's inside, just scroll down!
NFDNxtty ASSET DETAILS:
NAME: NFDNxtty
ASSET ID NUMBER: 7691512536154962225
ISSUING ACCOUNT: NFD-T4MX-HYMV-2J6M-AR9KM. Balance inspectable at the NFD Block Explorer.
NUMBER OF UNITS: 100'000
BACKING: Dedicated Nxt account NXT-KDCA-U92R-9FSG-7KS4F. Holdings of Nxtty identified at bottom of block explorer page.
BENEFIT: Each unit of NFDNxtty is redeemable on demand for one Nxttycoin sent to the redeemer's choice of Nxt account. In addition, the issuer will place sell and buyback orders and adjust them according to market conditions as specified by the Nxttycoin orderbook in the Nxt Asset exchange. The issuer will make a reasonable effort to keep up with the current orderbook in the Nxt AE, so as to assure a reasonably fair price for NFDNxtty.
PRICE: Will vary according to market conditions. The same pledge made just above applies to the issuing prices of NFDNxtty tranches, as does the same reasonable-effort proviso.
To see the orderbook for this Asset: fire up your NFD wallet, click "Asset Exchange" on the left-hand menu, look for the "Add Asset" button in the top-right area of the wallet, click it, put in the Asset ID number 7691512536154962225 into the form, and the orderbook for NFDNxtty will show. You will see buy and sell orders from me, the Asset Issuer. As pledged above, both orders will be a reasonable match for the high bid and low ask for Nxttycoin in the Nxt Asset Exchange.
If you want me to prove I have control of the Asset Issuer account NFD-T4MX-HYMV-2J6M-AR9KM: just send me your own NFD Account ID and I'll send you an Arbitrary Message that'll prove it's my account. If you don't have an NFD Account, just download a new wallet here.
PRICING:
With respect to the pricing, and the pledge above, two pictures suffice for two thousand words:
The first chart is from Bter. The second is from Nxtblocks, and extends back to the time Nxttycoin was issued. As you can see, there was a build-up of excitement when Nxtty was first issued, and another burst when the app was released, but it's been a long downhill slide since. True, the slide has been interrupted by a jump in the last couple of days, but that's no guarantee of a turnaround.
So: I'm offering NFDNxtty in chunks, as tied to the low ask on the Nxt Asset Exchange. Here's the formula: (low ask for Nxttycoin) * (Nxt price in satoshis) / (NFD price in satoshis). The NFD-price denominator will be calculated by using the low ask, not the high bid.
For example: at the time of this writing, the low ask for Nxttycoin is 0.0429 NXT, and Nxt itself is selling at 5,070 satoshis at Bter. NFD's low ask there is 2 satoshis. By the above formula, my offer on the NFD Asset Exchange would be 0.0429 * 5070 / 2 = about 107 NFD per unit of NFDNxtty.
This calculation is only an example: if market conditions change, the offer will change with it.
The same procedure applies to a buyback bid, also from me. It will be based on the high bid in the Nxt AE. So, the formula for calculating the buyback will be (high bid for Nxttycoin) * (Nxt price in satoshis) / (NFD price in satoshis). Again, the NFD price used will be the low ask at Bter. It will not be the high bid.
As of the time of this writing, the high bid for Nxttycoin on the Nxt AE is 0.038878. Using the same figures above, the buyback price would be 0.038878 * 5070 / 2 = 99 NFD.
Like the first example, this calculation is meant to be illustrative. The real buyback offer will be determined by market conditions via the same formula with up-to-date figures.
Since I have other responsibilities, I cannot promise to keep up with the Nxt AE market: I can only pledge to do so. However, this might mean that you'd find a better deal on the NFD AE than on the Nxt AE.
As for the volume of the bid and offer, I only have 100'000 NFDNxtty to offer - so the asks are likely to be small in volume. The bids, on the other hand, are likely to be big enough to cover the entire issue of NFDNxtty that happens to be out of my hands. Because I'll be making a micro-market, you can speculate on Nxttycoin itself through NFDNxtty.
I'll make sure that the slippage for you is reasonable. DISCLOSURE NOTE: I'm also doing a little spread trading on the Nxt Asset Exchange with the dedicated account, in the hopes that I can build up the backing for NFDNxtty by making a few nano-profits.
I'll be doing so only with the surplus of Nxttycoin in the dedicated account. I guarantee that the Nxttycoins it holds will never fall below the amount of NFDNxtty that's out of my hands. You can check anytime by looking at the balance of the dedicated account NXT-KDCA-U92R-9FSG-7KS4F in the Nxt Block Explorer or through the search box in your Nxt wallet. You can check my holdings of NFDNxtty anytime by dumping my issuing account NFD-T4MX-HYMV-2J6M-AR9KM into the search box of your NFD Wallet. That'll not only give you the balance of my account but also the holdings of all my Assets with a simple click of the "Assets" tab. Just subtract my own holdings of NFDNxtty from 100'000 and you'll see how much is outstanding in other hands. If you don't have an NFD wallet, just go to the official NFD Website and click "Downloads." You'll not only get the link to the wallet .zip package but also quick instructions on getting it running. REDEMPTION POLICY:
Just open up your NFD wallet, click "Asset Exchange" and "My Assets", then click the "Transfer Asset" link beside your holdings of NFDNxtty, and then transfer the amount you want to redeem to my issuing account NFD-T4MX-HYMV-2J6M-AR9KM. Please also send an attached message with the Nxt Account ID that you want me to send the Nxttycoins to, or let me know on this thread. I'll post every completed redemption here in this thread.
WHAT'S INSIDE NXTTY:
Nxtty is a neat little chat app with one benefit that makes it stand over the others: private chats are strongly encrypted. It comes with true client-to-client encryption, like Arbitrary Messages in Nxt itself (and in NFD.) You can chat with someone else and not worry about anyone eavesdropping on your private conversations. Not even the Nxtty company (NMAC) can figure out what you're saying and what's being said to you. The very design of the system means that there's no backdoor possible. If this feature seems a mere frill, I suggest you keep up with the news.
In addition, Nxtty enabled automatic message destruction by default. No more need to worry about someone scooping up your cell phone and posting a snapshot of your intimate messages to 4Chan.
There's also a huge number of channels in the Open Chat rooms, each categorized by a popular subject. There, you can use Nxtty to tip any post you especially like.
Getting Nxtty is easy! If you have an Android phone, just fire up Google Play, look for Apps, hit the Search icon and keyboard in "Nxtty" You'll see this screen:
As you can see, it's already highly rated. Just tap the Nxtty icon, and it'll download into your own phone. When the download is complete, you'll see the Nxtty app in your Apps folder:
Just tap it with your own finger and you'll see what it offers:
Right now, the main action takes place where the finger's pointing: Open Chat. Tap where the finger is and you'll see a new bulletin board called Support.
As you can see, I've already jumped the gun with mine.
To add some of your own, just tap the "+" icon on the top right. That's how I added the ones you see above "Support." Tapping the "+" will take you to a screen with lots of choices:
Once you've loaded up your Open Chat portal with your faves, just tap the one you want and you'll be taken to it. You'll see the posts on a screen like this one
from the "World Economy" board. (Yes, that one at the top of the screenshot is mine.)
Making a post of your own is easy. Just start by tapping the "+"-feather icon in the top right and you'll see a form with the title and "Post Detail" to hammer out your thoughts, like I did with a comment on gold in relation to oil:
You can also attach an image to your post, simply by tapping "Choose File." You can choose from your gallery or a photo. I chose the latter in my post: a snapshot of a 6-month chart of oil from my desktop monitor.
( Admittedly, this last screenshot was kinda hurried...
)Speaking of the World Economy, Nxtty makes it convenient to post & chat about financial events. Instead of juggling windows on your desktop, shrinking your "command post" to accommodate a billboard or confining yourself to what you can squeeze into a trollbox, you can work with a full-sized trading suite on your desktop and pick up Nxtty to bat out an informed commentary or pick people's brains.
If you want to exchange views and comments in private chat, just hit "Private Chat" in your main screen and you'll call up a three-field search box to find fellow Nxttyers. Here's what I got after entering in my home city:
Just press "Invite", wait for your invite to be accepted and you can start chatting...securely
In fact, it's so secure that Nxtty automatically destroys the messages you receive! Unless you change it in Settings, the default time between receipt and destruction is one minute:
Yep, that's a shot of the default setting in the Settings page. So, snoops have only one minute to spy on your private conversations...
...and post them on 4Chan.
FINAL SUMMARY:
This Asset, NFDNxtty,allows you to get some Nxttycoin for your NFD without enduring the hassles and slippage that would come with dumping your NFD and buying Nxt. More interestingly, the above pledge means that I'll be keeping a close eye on the Nxttycoin orderbook in the Nxt Asset Exchange: any change in the orderbook will "flow through" to the NFD Asset Exchange. Since I'll adjust both the sell orders and buyback orders, you'll have a chance to participate in any rise of Nxttycoin without leaving the NFD environment and enduring exchange slippage to buy Nxt for Nxt's own AE. This pledge, I'll hold good on both sides of the NFD-AE orderbook ....until NFDNxtty is sold out, that is.
And remember, you need only Transfer your holdings of NFDNxtty to my issuing account NFD-T4MX-HYMV-2J6M-AR9KM and I'll send you an equal amount of Nxttycoin to whatever Nxt account you specify! You can audit the backing account NXT-KDCA-U92R-9FSG-7KS4F at any time by either clipboarding the ID into the Nxt wallet searchbox or by looking near the bottom of the page for it in the Nxt Block Explorer.To be frank, my pledge will be an easy pledge to make - I've already made a few Nxt by spread-trading Nxttycoin on its AE.
So, I have a real incentive to keep a close eye on the Nxttycoin orderbook. Thus, I'll have easy access to adjust my orders on the NFD AE because I keep my NFD wallet open all the time to forge. As I further pledged above, I'll keep the slippage on NFDNxtty reasonable. Plus, you'll have the chance in every 24hr period to take advantage of me when I'm asleep.
But please remember: I can't adjust the orders or redeem your NFDNxtty until I'm awake and have fired up my own wallet. Just to remind you, the basic terms of this NFD Asset are:
NAME: NFDNxtty
ASSET ID NUMBER: 7691512536154962225
ISSUING ACCOUNT: NFD-T4MX-HYMV-2J6M-AR9KM. Balance inspectable at the NFD Block Explorer.
NUMBER OF UNITS: 100'000
BACKING: Dedicated Nxt account NXT-KDCA-U92R-9FSG-7KS4F. Holdings of Nxtty identified at bottom of block explorer page.
BENEFIT: Each unit of NFDNxtty is redeemable on demand for one Nxttycoin sent to the redeemer's choice of Nxt account. In addition, the issuer will place sell and buyback orders and adjust them according to market conditions as specified by the Nxttycoin orderbook in the Nxt Asset exchange. The issuer will make a reasonable effort to keep up with the current orderbook in the Nxt AE, so as to assure a reasonably fair price for NFDNxtty.
PRICE: Will vary according to market conditions. The same pledge made just above applies to the issuing prices of NFDNxtty tranches, as does the same reasonable-effort proviso.
Download the NFD Wallet here.
Pick up some NFD at Bter here.
And thanks for reading!!!
P.S.: I'll be replying in this thread with daily posts on Nxttycoin's market action
and noting any adjustments I made in both sides of the orderbook in the NFD Asset Exchange.
I'll also notify everyone if or when NFDNxtty is sold out, in which case I'll only be adjusting the buyback order.
If you want to keep up with my reports, either leave a reply
or subscribe to this thread!
Want to audit my pledge or watch the action?
Just download the NFD Wallet from here, click "Asset Exchange" from the left-hand menu,
click the "Add Asset" button on the top right on the Asset exchange page,
and enter in this Asset ID Number: 7691512536154962225.
And...if you already have Nxtty, feel free to drop your user ID in this thread!
You might be hearing from someone soon...
The more eyes, the better!!
and noting any adjustments I made in both sides of the orderbook in the NFD Asset Exchange.
I'll also notify everyone if or when NFDNxtty is sold out, in which case I'll only be adjusting the buyback order.
If you want to keep up with my reports, either leave a reply
or subscribe to this thread!
Want to audit my pledge or watch the action?
Just download the NFD Wallet from here, click "Asset Exchange" from the left-hand menu,
click the "Add Asset" button on the top right on the Asset exchange page,
and enter in this Asset ID Number: 7691512536154962225.
And...if you already have Nxtty, feel free to drop your user ID in this thread!
You might be hearing from someone soon...
The more eyes, the better!!