Author

Topic: Comparing returns of Litecoin, Dogecoin, Peercoin and NXT (Read 1948 times)

sr. member
Activity: 462
Merit: 253
Winning in crypto is always tough way. I agree that you lost most of your holdings if you hold doge, peer, ltc or other shitcoins. But being a nxt holder is not different to me. Every POS coins are %100 premine, so I don't invest them and I hope nobody waste their money for those scams.

It makes no sense to say that every POS coins are 100% premined, when you mention PPC in your post.
legendary
Activity: 826
Merit: 1000
amarha
The Monetary System tech looks really interesting. I'm curious to see what currencies get built on top of NXT using the technology. I know ORA is going to be using it, and that project has looked good from the start.
hero member
Activity: 574
Merit: 500
Winning in crypto is always tough way. I agree that you lost most of your holdings if you hold doge, peer, ltc or other shitcoins. But being a nxt holder is not different to me. Every POS coins are %100 premine, so I don't invest them and I hope nobody waste their money for those scams.

Indeed. Nxt is useful for its decentralized asset exchange, but because of the fact that it's premined, it seems like a very silly store-of-value.

This is more comparable to stocks than to cryptocurrencies.

Show me the logic...

NXT is not premined. Premined is a negative term meaning someone was dishonest by premining the currency before it was brought on the market and when difficulty was still very low, while claiming at the same time that everyone has the same chance to mine it, which is a lie when you premine.

With NXT there is no mining at all, so there can not be premining. All coins were created at inception, just like with stocks indeed, but in contrast to stocks, where often more stocks are created in the future (inflation of supply), with NXT no more tokens can be created, ever. Therefore it is a better store of value than even bitcoin, as it is the only currency that has no inflation at all.


The question is: was the distribution of NXT coins fair? I think yes as the founder put the coins for sale for 2 months and allowed anyone to pay up to 1 bitcoin. 72 people did, some payed 0.1 btc, some 1 btc, and they all got the NXT coins depending on how much they put in. Note that there was no operational software at the time, only ideas. They took a high risk and got a high reward.

I talk more about it in this video:
https://www.youtube.com/watch?v=7U7aAt3kFMI&list=UU1WYajSaECI0VrnP97yNOYg

I had never seen this before... it is the best response to the 'premine' ignorance I have seen. Spot on marc  Grin
legendary
Activity: 1612
Merit: 1001
yes i've invested in nxt and will be holding it for long because it has great potential.
hero member
Activity: 854
Merit: 1001
Yep, NXT is definitely a good place to be right now.....the tech is amazingly solid, we already have a load of 3rd party projects being buillt on NXT, with a lot of interesting stuff coming up soon.
NXT is dominating the crypto-assets market, and will soon be releasing a sidechain implementation: the Monetary System, which will allow creation of new currencies on top of the NXT blockchain.

And we're going into space......
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
I did invest, thank to you, Mark. And I did it because I love the technology. I can replace the losses, but not this great technology. Thank you.
sr. member
Activity: 327
Merit: 250
The Best Investment Deserves The Largest Exposure
Winning in crypto is always tough way. I agree that you lost most of your holdings if you hold doge, peer, ltc or other shitcoins. But being a nxt holder is not different to me. Every POS coins are %100 premine, so I don't invest them and I hope nobody waste their money for those scams.

Indeed. Nxt is useful for its decentralized asset exchange, but because of the fact that it's premined, it seems like a very silly store-of-value.

This is more comparable to stocks than to cryptocurrencies.

Show me the logic...

NXT is not premined. Premined is a negative term meaning someone was dishonest by premining the currency before it was brought on the market and when difficulty was still very low, while claiming at the same time that everyone has the same chance to mine it, which is a lie when you premine.

With NXT there is no mining at all, so there can not be premining. All coins were created at inception, just like with stocks indeed, but in contrast to stocks, where often more stocks are created in the future (inflation of supply), with NXT no more tokens can be created, ever. Therefore it is a better store of value than even bitcoin, as it is the only currency that has no inflation at all.


The question is: was the distribution of NXT coins fair? I think yes as the founder put the coins for sale for 2 months and allowed anyone to pay up to 1 bitcoin. 72 people did, some payed 0.1 btc, some 1 btc, and they all got the NXT coins depending on how much they put in. Note that there was no operational software at the time, only ideas. They took a high risk and got a high reward.

I talk more about it in this video:
https://www.youtube.com/watch?v=7U7aAt3kFMI&list=UU1WYajSaECI0VrnP97yNOYg
sr. member
Activity: 462
Merit: 253
Winning in crypto is always tough way. I agree that you lost most of your holdings if you hold doge, peer, ltc or other shitcoins. But being a nxt holder is not different to me. Every POS coins are %100 premine, so I don't invest them and I hope nobody waste their money for those scams.

Indeed. Nxt is useful for its decentralized asset exchange, but because of the fact that it's premined, it seems like a very silly store-of-value.

This is more comparable to stocks than to cryptocurrencies.
legendary
Activity: 1424
Merit: 1001
Winning in crypto is always tough way. I agree that you lost most of your holdings if you hold doge, peer, ltc or other shitcoins. But being a nxt holder is not different to me. Every POS coins are %100 premine, so I don't invest them and I hope nobody waste their money for those scams.
sr. member
Activity: 462
Merit: 253
Can someone please tell me why Litecoin and Dogecoin lost their values? They looked very promising a few months ago.

Dogecoin was always going to die, ill conceived (understandably though as it started as a joke). Litecoins gaining in value (just decreasing in price v USD/btc at this point through trading).

Dogecoin was ill conceived, but devs are fixing it though. Merge-mining will be implemented by the end of this month, which will put a end to most security concerns.
legendary
Activity: 924
Merit: 1000
Litecoin is getting hammered, so is Dogecoin and Peercoin. The past half year (180 days) Litecoin went from 0.025 btc to 0.009 btc, losing -64% of it's value vs Bitcoin. Dogecoin went from 221 satoshi to 28 satoshi losing -86% of it's value vs Bitcoin, and Peercoin went from 0.0063 btc to 0.0014 btc, losing -79% of it's value vs bitcoin. On top of that Bitcoin lost -23% the past half year vs USD going down from $653 to $508. And the USD itself lost around -3% of it's purchasing power the past half year.

In summary, you lost almost all your purchasing power in these coins. To just neutralize these losses you will have to make 300% to 700% return in the same or another investment. If you think crypto is easy money, think again.

In the meantime NXT went from 7989 satoshi to 6983 satoshi, losing (only) -13% vs bitcoin. You will need to make (only) 15% return to make up the loss.

I discovered the same thing.
legendary
Activity: 1876
Merit: 1000
Can someone please tell me why Litecoin and Dogecoin lost their values? They looked very promising a few months ago.

Dogecoin was always going to die, ill conceived (understandably though as it started as a joke). Litecoins gaining in value (just decreasing in price v USD/btc at this point through trading).
full member
Activity: 182
Merit: 100
KryptKoin is one of the best!!!
Why don't you invest in other coins like SYNC, which have had a great increase in value recently?
full member
Activity: 182
Merit: 100
KryptKoin is one of the best!!!
Can someone please tell me why Litecoin and Dogecoin lost their values? They looked very promising a few months ago.
sr. member
Activity: 462
Merit: 250
WikiScams.org - Information about Bitcoin Scams
It is very unfortunate that the older generation of altcoins are doing so badly right now. On the other hand, perhaps I was fortunate in that I was a bit late in joining the crypto community because if I had started investing into altcoins only a couple of months before I actually did, then chances are, I would have been one of the people who bought into those coins too.

And yes, I am invested in Nxt. In fact, it's probably the coin that I am most invested in (other than Bitcoin of course). However, Nxt has been going sideways for most of 2014. It peaked near the beginning of the year and in June but the price charts have not been very favorable (or unfavorable) to it. I wonder if Nxt will ever rise above the 10 cent mark and stay there. It has touched it twice, but every time it does, it is followed by a huge crash.

We already know that when Bitcoin prices rise, altcoin prices get dragged along with it. When Bitcoin falls, altcoins fall along with it. Many new altcoins were released this year, and perhaps the falling price of Bitcoin combined with people investing into these newer altcoins is the reason why the old favorites aren't looking so great at the moment.

Edit: Also you forgot Namecoin.
legendary
Activity: 1876
Merit: 1000
For me its all about worth not price, litcoin is worth more then all the above put together no matter what its price is Wink
legendary
Activity: 952
Merit: 1000
Yeah! I hate ShroomsKit!
Wise words, my friend, wise words!  Smiley
sr. member
Activity: 327
Merit: 250
The Best Investment Deserves The Largest Exposure
Litecoin is getting hammered, so is Dogecoin and Peercoin. The past half year (180 days) Litecoin went from 0.025 btc to 0.009 btc, losing -64% of it's value vs Bitcoin. Dogecoin went from 221 satoshi to 28 satoshi losing -86% of it's value vs Bitcoin, and Peercoin went from 0.0063 btc to 0.0014 btc, losing -79% of it's value vs bitcoin. On top of that Bitcoin lost -23% the past half year vs USD going down from $653 to $508. And the USD itself lost around -3% of it's purchasing power the past half year.

In summary, you lost almost all your purchasing power in these coins. To just neutralize these losses you will have to make 300% to 700% return in the same or another investment. If you think crypto is easy money, think again.

In the meantime NXT went from 7989 satoshi to 6983 satoshi, losing (only) -13% vs bitcoin. You will need to make (only) 15% return to make up the loss.

The assets that go down the least in a bear market prove a lot of strength and are much more likely to go up a lot more when the bull market arrives. So, jumping ship to NXT still makes a lot of sense.

For those who are invested in these coins, I'm sorry for your loss Sad


I have a youtube channel where I talk about investing in NXT and Bitcoin, hope you like it:
https://www.youtube.com/user/Marcdemesel
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