Ok NXT market cap formula is 999,997,986 X $ 0.037 = $ 36,968,943
Using this formula the moment it hits $1 you will effectively rank it higher then Litecoin on market cap.
Do you honestly not see a problem with formula used in this particular case?
Using this formula the moment it hits $1 you will effectively rank it higher then Litecoin on market cap.
Do you honestly not see a problem with formula used in this particular case?
There is no problem with the formula, you clearly do not understand what market cap is supposed to show. Any of the founders who hold a large amount of coins can sell them whenever they want. If their coins become worth $10 million and they only want to sell 1000NXT that is up to them. Market cap reflects the overall market consensus of the value of the coin based on who sells and who buys.
What about Satoshi who mined almost 1 million bitcoins? Or the Litecoin addresses that hold hundreds of thousands of Litecoin and haven't had any activity in them for a year etc. According to your own argument that would also make market cap invalid
You must be retarded if this is a real question you are asking.
Satoshi mined them, that takes human hours, research, time, electricity and resources. Also early adopter risk which he chose to exercise to its max by holding long term past the first oportunity of a break even on costs. AT this point a lot of miners sell if not most of them and only some risk takers go on further seeking higher return over time while exposing themselves to risk as an investor would. This is why his coins and all those coins sitting dormant in LTC wallets for a year or two are totally worth what they are worth.
NTX is brought in to existence by a magic switch, one key press and then handed out to 70+ people to now hold on and sell on their own exchange were if I am the owner only FEE's would stop me from over trading and falsifying price point but since fees go back to me i can just create as many accounts as i want to pump this baby to $100 making its market cap greater then Bitcoin in a week.
Just because they are rating at 36million right now its ok?
Where do you draw the line?
This is clearly a price discovery mechanism EXPLOIT engineered and executed according to plan to the T. More will follow if we dont fight this crap
