Topic: | Nxt | Blockchain Platform | Proof of Stake | Official - page 332. (Read 941287 times)

Let's not let any truths get in the way of a good story

NXT has been rated a BUY by Crypto Analylics

 

http://cryptoanalytics.trade

http://cryptoanalytics.trade/NXT/

Nxt is going to be on CNN  

A Nxter will be interviewed by CNN for documentary about bitcoin. They are going to wear a Nxt T-shirt  

https://nxtforum.org/general-discussion/so-i'm-going-to-be-on-cnn-next-week-!-i'll-wear-a-nxt-tshirt-d/msg58251/

Right now, you can see small signs that the peg to BTC is breaking down for NXT, but NXT is still, essentially, tied to BTC. Take  a look at these 2 charts:

http://coinmarketcap.com/nxt_90.html

http://coinmarketcap.com/btc_90.html

Not a lot of difference.....

However, pretty soon NXT will have several NXT<>fiat gateways available, and so I think we'll see that NXT/BTC connection fade over the next year.
I'm fairly certain that we will see NXT start to rise much faster than BTC in the next few months (even though I also expect a big BTC rally very soon...)
A lot depends on what happens with Litecoin, tbh. Will it collapse ? Where will the LTC money go if it does, NXT, BTC, DRK ?

If you mean in what (crypto)currency more NXTs are bought and sold, undoubtedly, it's BTC. There are very few fiat gateways and BTC is still the obvious choice for exchanges to price all other cryptos in.

But that doesn't mean it's a peg. I see NXT outperforming BTC in the future. They could move in the same direction, but BTC gaining less over the same timeframe than NXT. A peg, in the strict sense of the word, means like a peg of the Chinese Renminbi to the USD peg, that is, NXT would have to cost the same amount of satoshi more or less. I don't see that happening, it will cost more satoshi with time

You can buy stuff at these stores with Nxt   

http://nxtcoin.blogspot.cz/2014/04/what-can-you-buy-with-nxt.html
https://piratenpad.de/p/MerchantsThatAcceptNXT

I see a peg at the moment. BTER and others denominate NXT prices in BTC, not USD. You trade against BTC. When bitcoin's price moves, so implicitly does NXT's - unless you actively do something about it.
That will change when there are more/reliable fiat exchanges.
The second thing is that there's almost nothing you can currently do with NXT. Great devs, community, energy, big projects coming soon - but little real-world application right now. Once it's integrated into businesses and services like TXTCoinsNow, MGW and hopefully hundreds of others - that don't necessarily know or care what bitcoin is - then things will change even more. It's coming in the next few months, but not yet.

Fair play- thank you for your thoughts.

Edit- so at this point do you think that NXT is already free floating, or do you think that NXT is currently essentially priced in BTC ? and how do you see "the peg" playing out (or not) as the gradual BTC increase your foresee happens.

Well, I don't see a big move in Bitcoin in the near future, only a gradual one.
With that into account I see more people diversifying into 2-3 innovative alts, including NXT. Those alts will be outperforming Bitcoin. Other alts with no innovations will continue to be slowly dying. No pegs

Good man, I am a member there too... just being lazy : )  

thanks

Hi- well that is a valid point and I am not disputing that at all, I am kind of expecting a move soon , though not necessarily  a parabolic one, but a significant one. I understand that past performance is not a good inidcator of future performance. The reason I kind of expect a move (not necessarily  a parabolic one)  is because there is lots and lots of news and attention and seed money  and regulatory clarification that is filtering its way through now... I do not think that this is all priced in already... I think the value to price ratio is low at the moment, I feel that Bitcoin is undervalued (Nxt too) also because of the technicals.... at somepoint I think that there could be another surge... it is by no means certain, and it may not happen tat way at all, I 100% get that, but it would not suprise me either.

 That is almost another topic...

 I am more interested in how people view the supposed NXT/BTC "peg"   especially in the event a parabolic , or significant BTC rally does occur..

But I do take your point : )

I've cross posted into the Price Speculation thread on Nxtforum too

https://nxtforum.org/general-discussion/price-speculation/4560/

What are the reasons for Bitcoin's parabolic move?
It was easier to get to $1000 (but not stay there), than to the next levels. The next levels will take much more capital, the sources of which are not so clear.
Just remember that past history doesn't guarantee the same pattern in the future. Bitcoin can still grow over the next 1-2 years, but more gradually now. Hard to predict beyond 1-2 years.

Who knows how it gets there .. but ..
If I could go long NXT and short BTC as a 'pairs' trade ..
I would ..

Triff ..

Some speculation...

What are peoples thoughts on how Nxt will react/not react in the event of a parabolic move from Bitcoin ? I have read the ongoing debate about
if nxt acts as if it is "pegged" to btc.  

Do you think that if Bitcoin goes x 10 , that Nxt will follow suit?  and if so do you think will happen in sync with BTC or lag behind?

i.e
If BTC goes to $5000 (for a arbitrary and pretty figure) do you think NXT will go to $0.47  and do you think it will do it same day, or weeks later?

Or do you think that if BTC goes on a run, Nxt will drop/stay the same/

OR do you think that if BTC goes on a major rally say up to $5000 which is approx 7.6 times higher than it is today, that the attention and hype, money may then pile into NXT in an even bigger way and we could shoot up towards 1 NXT = 1 $

I get the feeling that NXT is undervalued and therefore has the potential to catch up to its value, and then to run along with BTC for now..
but at the moment I am wondering if the more likely event is that BTC goes on a run first, and then NXT tags/lags along with it to a degree... and then for more investment to push up the NXT market cap after it has held onto BTC's coat tails.

If BTC reaches 65 Billion dollar market cap, is it unrealistic to expect NXT to reach a 5 billion marketcap? and do you think NXT would be undervalued or overvalued at that point?  or do you think that at this stage in the networks life there is not the value in the network at this stage to support a marketcap that high?

Also what are peoples thoughts on the NXT "price stability" that stays stable when Bitcoin goes down? do you think that there is some manipulation at play to keep the price stable?

Finally what are peoples thoughts on the NXT BTC "peg"  do you see us moving away from this peg (if you belive there is one) as more fiat gateways
are added? and how do you think this will happen/over what timescale?

If you are in the I think NXT will lag behind BTC with a time delay, and are expecting a rally in btc,  are you tempted to sell your NXT and buy back in later once BTC has rallied?  if not why not..

OR are you not expecting a rally in BTC anytime soon? but expecting on in NXT

Just chewing the cud really....  I am interested in how other people think about it, please share your thoughts/comment on the above.

thanks : )

No more BTC but want more Nxt? Then just mine it at Nxt's Multipool Hashrate.org

Mine with:

Scrypt
Scrypt-N
X11
SHA
Keccak

Go to https://nxtforum.org/nxt-indirect-mining/hashrate-org/ for more info

smiling what?

me too

^ ^ ^ ^

I cant stop smiling.   

Awesome Nxt branded Raspberry Pi Forging Rig anyone?   It will make ordinary cheap forging super cheap. Banana PI and Cubietrucks are being considered too, this will be futureproofed when there are large amount of transactions to be processed.




Coming to a 'for sale' thread near you soon, in the meantime:
https://nxtforum.org/general-discussion/small-announcement-pi-case-bling-nearly-ready/msg58259