The problem is you don't see a full picture.. if the 'donors' could dump all coins at once, they couldn't cuz there would not be enough demand for NXT on exchange. So what is happening now is steady decrease of their stash to newcomers.. which gives you the distribution. If you only look for profit, probably this coin is not for you since it bets on feature richness. Who understands the potential behind those features will win in the end.
Also I have analyzed the top addresses and the total coins owned by them is slowly decreasing:
27.12.2013 79.36%
28.12.2013 79.16%
29.12.2013 78.34%
2.1.2014 66.48%
3.1.2014 77.39%
6.1.2014 75.64%
Keeping track further on numbers.
Topic: I'm dumping Nxt and here's why you should too - page 19. (Read 21314 times)
Look I agree with you both but that distribution is completely bullshit. I wanted to ignore it because the name, logo and everything was fine but at the end of the day when I did my profit calculations, it is a losing battle. There is simply too few people holding millions of Nxt. Any small gain for me is a HUGE gain for them (as outlined in my OP). Us buying Nxt is just making these individuals filthy rich. One already cleared his stash at 0.00012. Do you really think he didn't buy back in on that crash and will just do it all over again? OF COURSE HE WILL, he just DOUBLED his money from making hundreds of BTC. And there are many many others like him, just wait for it. Where is the unaccounted 3/4 of all Nxt, this is a really sham. Even for crypto.
I guess thats the 'benefit' of any recent crypto.
Why spending years working on the same job day by day when you can launch crypto and in few months make a fortune?
Why spending years working on the same job day by day when you can launch crypto and in few months make a fortune?
The fact that early adopters get rich is true of all cryptos.
The distribution concerns are real though, but if btc keeps going through the roof it probably won't matter, people will throw enough money into everything that nxt will still do very well because people want to diversify and nxt is reasonably unique (at least compared to the standard alts).
The distribution concerns are real though, but if btc keeps going through the roof it probably won't matter, people will throw enough money into everything that nxt will still do very well because people want to diversify and nxt is reasonably unique (at least compared to the standard alts).
You're an idiot for buying in the first place then, nothing has changed.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
Lol have fun lining the pockets of the few who did donate. Nxt will NEVER bring you any decent profit when .001 means 3999 BTC for 70+ people. Keep up the optimism and ignoring obvious signs of a financial failure. Good way to lose money. Bravo!
It's the same with most coins. E.g. >50% of Bitcoin is held by <1000 people. And other cryptos are even worse.
Yes, the stakeholders will make a killing. But I also think that this is only the beginning for NXT.
You're an idiot for buying in the first place then, nothing has changed.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
Lol have fun lining the pockets of the few who did donate. Nxt will NEVER bring you any decent profit when .001 means 3999 BTC for 70+ people. Keep up the optimism and ignoring obvious signs of a financial failure. Good way to lose money. Bravo!
You're an idiot for buying in the first place then, nothing has changed.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
Once it hits 0.00008+, I'm out. Forever. Here's why:
There are around 70 odd 'donors/ founders/ whatever you call them who hold 4,000,000 Nxt each (probably more). That only equals 280,000,000 Nxt, where is the rest?
Good question.
Even with just these 70 individuals (excluding the 3/4 of Nxt which is probably in the hands of a smaller group of anonymous donors/ founders/ whatever you call them) they all have the opportunity to make 399 BTC at 0.0001 BTC from a 1 BTC investment. Even if you could buy at the absolute low of 0.00005 (which it isn't at), you only have the chance to double your money, but why would you want the risk to merely double your money with these HUGE whales lurking? Better yet, if it went to 0.001, they would have 3990 worth of BTC to dump, so forth. This coin has NO future potential due to the poor distribution of the coins. There are 70 reasons (probably more) to be scared every time the price goes up. At least Ripple is governed by one organisation and not a group of lucky investors which are looking to become overnight millionaires.
They are just dumping their stashes on the highs, creating panic and a massive price drop and then buying back at a much cheaper price. Rinse and repeat. The price will never go anywhere and it has been highly manipulated from the start.
If you don't think you were played and you are still singing the 'let me line the donor's pockets with millions because they deserve it for the risk' chant, here's a scenario which probably got you into Nxt in the first place. The great price pump of late December.
Two weeks ago when that pump was happening, practically ALL of the Nxt was held internally. The developers were basically selling to themselves to artificially increase the price. When all of the volume is coming from a small group of people, who in their right mind thinks this market is not being manipulated? The bag holders know the price will go down and they are cashing out now on suckers to buy back later for cheap. Rinse and repeat. All day I have been watching large buy walls get demolished. We are talking 500k walls and so on. Those poor people are now stuck at that price point while the greedy few buy back a lot cheaper for more carnage.
TOPIC BREAKDOWN FOR THE LAYMEN:
- The source code was a joke
- The price is crashing due to major manipulation efforts and lack of confidence
- Any 'decent' profit now will make the donors extremely wealthy
- 3/4 of Nxt is not accounted for
Disclaimer: I own 50,000+ Nxt which will soon be GONE! I want out!
There are around 70 odd 'donors/ founders/ whatever you call them who hold 4,000,000 Nxt each (probably more). That only equals 280,000,000 Nxt, where is the rest?
Good question. Even with just these 70 individuals (excluding the 3/4 of Nxt which is probably in the hands of a smaller group of anonymous donors/ founders/ whatever you call them) they all have the opportunity to make 399 BTC at 0.0001 BTC from a 1 BTC investment. Even if you could buy at the absolute low of 0.00005 (which it isn't at), you only have the chance to double your money, but why would you want the risk to merely double your money with these HUGE whales lurking? Better yet, if it went to 0.001, they would have 3990 worth of BTC to dump, so forth. This coin has NO future potential due to the poor distribution of the coins. There are 70 reasons (probably more) to be scared every time the price goes up. At least Ripple is governed by one organisation and not a group of lucky investors which are looking to become overnight millionaires.
They are just dumping their stashes on the highs, creating panic and a massive price drop and then buying back at a much cheaper price. Rinse and repeat. The price will never go anywhere and it has been highly manipulated from the start.
If you don't think you were played and you are still singing the 'let me line the donor's pockets with millions because they deserve it for the risk' chant, here's a scenario which probably got you into Nxt in the first place. The great price pump of late December.
Two weeks ago when that pump was happening, practically ALL of the Nxt was held internally. The developers were basically selling to themselves to artificially increase the price. When all of the volume is coming from a small group of people, who in their right mind thinks this market is not being manipulated? The bag holders know the price will go down and they are cashing out now on suckers to buy back later for cheap. Rinse and repeat. All day I have been watching large buy walls get demolished. We are talking 500k walls and so on. Those poor people are now stuck at that price point while the greedy few buy back a lot cheaper for more carnage.
TOPIC BREAKDOWN FOR THE LAYMEN:
- The source code was a joke
- The price is crashing due to major manipulation efforts and lack of confidence
- Any 'decent' profit now will make the donors extremely wealthy
- 3/4 of Nxt is not accounted for
Disclaimer: I own 50,000+ Nxt which will soon be GONE! I want out!
Jump to: