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Topic: NXT :: descendant of Bitcoin - Updated Information - page 1893. (Read 2761645 times)

legendary
Activity: 1176
Merit: 1134
There's no liquidity on peercover for XRP/BTC either. Looks like if you have anything in NXT right now it's a sitting duck for the time being.

It is chicken and egg. If we just started trading peercover NXT/BTC on ripple, there will be liquidity. We don't need to worry about any other thing trading on ripple. NXT/BTC is like a colored coin that is just using ripple for exchange.

If we get people trading this on ripple, the spreads will become smaller and remember there are no fees, so if you can't get a trade you like, just withdraw.

 there is now over 50,000 NXT available in the NXT/XRP orderbook, only my 1000 NXT/BTC

spread is 2.85/3 XRP. Not great, but not bad.

All we need is more inventory. Then again, we could just pay dgex all our NXT in fees, is that better than getting dirty with ripple?

James
hero member
Activity: 672
Merit: 500
I warned about dgex behavior several times in our bounty thread, every time the head guy jumped in to defend their business.
But the funny part is they even didn't try to implement the simplest of improving suggestions which we mentioned there: that
is a secure https connection..?!
What dgex does is very simple, they are making bunch of money out of Nxt, and the only thing they improve is just their profits,
simply because of two reason:
1- Monopoly, not any serious competitions;
2-They are here for a short-term profit.
First was freicon, then nxt... they only need to change the logo each time!
None of this is true, except for the monopoly claim. It's not intentional, we do not limit anybody from opening an exchange. Perhaps worth it to think about the reasons for the nonexistence. Maybe nobody else was ready to carry the risk on inmature network. Yet by enabling trading we have increased NXT value to 100x what it was before DGEX launched.

We have had https for several weeks, just use it.

DGEX is here for long term.

We promised free trading and no NXT cashout fees to encourage NXT adoption for until the end of December.

The main reason for 1.4% NXT withdrawal fee is that we have lost a total of approx. 800 000 NXT during the processing of 11000+ deposits and 7000+ payouts within the month in the unstable NXT network and experimental API, plus our own software in the quick time to market and extremely risky circumstances.

If you think that's too much of a loss, you should have attempted to run the whole show yourself. There ALWAYS are losses in realtime payment processing. They need to be budgeted.

Yet at the same time, we have not complained but have enabled for the community 10000% value increase for their NXT, and through operating nextcoin.org and dgex.com have been a crucial factor in the expansion of NXT adoption.

Now, with the 800 000 NXT deficit, how would you suggest we recover that if not as fees from those who have benefited from us making live trading available in the first place (the customers)? Any suggestions are welcome!

Fees cover the facilities, and they cover the risks. We deal with it, and so should our customers.

You are simply a liar, at least Nxt community people know me well, and they know how loyal I've been to this project so far.
You are just an opportunist. The only reason I didn't try to make an exchange for Nxt was and is that I am not a businessman, otherwise it was not hard for me to put 1M of my big stake to make an exchange in a week (received several offers actually).
You can't make a big change in your fees without a prior notice. You lost some Nxt, well that is how a business might go, people who trusted your integrity should not pay for your sudden loss. I know you will continue your reasoning shit again and again, but people are angry, and you are here for the short term, that's for sure.
About https, you are right, I didn't try to login into your shitty platform for a long time to check again. Continue your shit!
hero member
Activity: 784
Merit: 500
Peercover/ripple

NXT, BTC, LTC BUY and SELL: 0.00%

NXT deposits: 0%

BTC deposits: 0%

LTC deposits: 0%

NXT cashouts: 0.0%, automated

BTC cashouts: 0.0%, automated

LTC cashouts: 0.0%, automated

Also, I think aldrin has added more inventory! There is now NXT available for 3 XRP which is around .0001 BTC and about right for what the price should really be. Maybe this whole dgex thing is to make NXT price go down on the day src was released. I think the true market price should be set on ripple

I have had many request for how to trade using peercover/ripple.

1st step is to just create a ripple wallet to get id. Then go to the link in my signature and deposit BTC. I won't be making a market in NXT/LTC today.

As soon as BTC is transferred, you will get BTC in your wallet and you will be able to trade NXT/BTC. I will try to get some competitive offers there within an hour. So, everybody get ripple acct, go to simpleGateway and get your ripple wallet funded with BTC. Oh, you have to create a trust line by going to the ripple wallet's advanced page and clickon "Add trust" and select BTC and put in peercovers address along with the size of your BTC deposit. This allows you to make a deposit of BTC.

If you can post when you get stuck I will help. If you need some XRP to start I will send you some. If you succeed, please post and explain how difficult it wasn't

James

P.S. The whole ripple process is very similar to what people will have to do for colored coins, so might as well get some practice

How can I sell Nxt?
full member
Activity: 238
Merit: 100
P.S.Peercover was willing to invest in all the development, NXT leakage, etc. and be in it for the long term forging revenue model. Actions speak louder than words. Support the company that supports the NXT community.

James - what is the minimum XRP that needs to be in the reserve to trade on Peercover? I just opened a wallet and am unfunded atm.

You need 20XRP. Send me your wallet address I will send it to you. You can repay me in NXT in my sig or via ripple send to rfHFcdmZgUKAFVYCaWWfYni6q8H7wLhFXr

For those who don't know in ripple you can send NXT or anything to another person and it will automatically show you a selection of what you have in your wallet that would convert to the desired amount

James

can you give us ripple dummies a quick 1,2,3 step by step of getting USD/EUR/etc into the ripple network to buy XRP?  Then I assume it operated like a normal exchange from there?
member
Activity: 98
Merit: 10
Quote
NXT BUY and SELL: 0.25%

The trade fee is high too.
This is not conducive to short term speculation in NXT

here, I fixed it for ya Smiley
legendary
Activity: 1176
Merit: 1134
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

Agree. I see no future in Ripple. The same old thing.

Regardless of its future we can trade NXT/BTC without fees, now. Not the future. Peercovers business model is long term and based on forging fees.

As much as people say they don't like ripple, I see a lot in common between them, but let's not get into some sort of debate over if it has a future or not. Not really the point. ripple is here to stay, so is NXT. Why not utilize ripple for what it is able to do?

James

P.S. I forgot 20XRP is the minimum, you need 30XRP to start trading. I will send 30XRP to anybody that needs it. Just send me back 10NXT or .001 BTC or the 30 XRP when you are setup
legendary
Activity: 1540
Merit: 1016
Quote
NXT BUY and SELL: 0.25%

The trade fee is high too.
This is not conducive to the development of NXT
AGREE!!!11
member
Activity: 98
Merit: 10
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

Agree. I see no future in Ripple. The same old thing.

Why? Is this because it is centralized or something else?
newbie
Activity: 42
Merit: 0
There's no liquidity on peercover for XRP/BTC either. Looks like if you have anything in NXT right now it's a sitting duck for the time being.
sr. member
Activity: 602
Merit: 268
Internet of Value
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.

Agree. I see no future in Ripple. The same old thing.
legendary
Activity: 1470
Merit: 1004
The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.

I think that you have every right to charge whatever you want.  However, you shouldn't justify temporary price increases as a way to cover operating losses.  You should always keep the fees consistent or people won't trust your exchange.  Regardless, another exchange will become the leader at your current fee structure.
legendary
Activity: 1120
Merit: 1000
I won't use Ripple no matter how appealing it may seem. Sorry but the foundation is rotten.
full member
Activity: 121
Merit: 100
Quote
NXT BUY and SELL: 0.25%

The trade fee is high too.
This is not conducive to the development of NXT
legendary
Activity: 1320
Merit: 1007
Dgex is slow as hell to release funds, but they will be fast as hell to take a huge cut.

http://www.nxtchg.com

Dgex alternative


legendary
Activity: 1176
Merit: 1134
OK, I put up a small amount of NXT/BTC on ripple at .0001

You can make buy and sell offers from the ripple.com wallet. You just need to type in NXT/BTC in the dropdown as it is not in the hardcoded list. Put in peercover's address ra9eZxMbJrUcgV8ui7aPc161FgrqWScQxV for both issuers

Now in a few seconds the orderbook appears and you can place buy and sell orders.

James

P.S. you will need 20XRP to get going. I will send you this, just post your ripple wallet. Once you are setup you can send it back to me, or NXT equivalent, whatever. We just need a more active market to set the real price of NXT.
newbie
Activity: 42
Merit: 0
The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.

This is a sunk cost. You should be voicing your concerns about the losses to the developers very loudly, not the customers.
legendary
Activity: 1176
Merit: 1134
Released today? Raise fees? Disappointment and anger..
legendary
Activity: 1441
Merit: 1000
Live and enjoy experiments
Full source code will be released Jan 3rd, 2014.  The fifth anniversary of bitcoin's genesis block.

Unless we're going to get more code in the next few hours, the note on the first page should be edited.

Code? Check!
Source? Check!
Full? Sorry, afraid not. Removed some bits, added some flaws, doesn't work on the live network.


I agree. That is a clear bait and switch.

Then the "Open Source" part becomes forgery,  the title should be changed to Nxt: The Bastard kid of Bitcoin  Grin Grin Grin
legendary
Activity: 1176
Merit: 1134

ripple is as much of a scam as NXT is
that is just a term that people who have not spent anytime to study things call anything they don't understand.

Nothing is perfect. Things are what they are. Take from each what it can do well and ignore the rest

James
hero member
Activity: 566
Merit: 500
The 1.2% (1.4% currently) NXT withdrawal fee at DGEX is planned to be lowered considerably or removed altogether when the network has stabilized and the exchange has recovered its 800 000 NXT losses arising from the first month of operations when approx. 20000 payments were processed in alpha status network, unstable API, and beta status house software.

Being the pioneer has its costs. Had you waited a month until any competitor has their exchange up, the value of NXT nor its adoption would not be where it stands now, and massive profits that numerous traders have made with their NXT would not have materialized. Personally I would be inclined to think 1.4% is a miniscule cost for everything that the quick launch of DGEX and nextcoin.org has given the public, but well that's just me.
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