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Topic: NXT :: descendant of Bitcoin - Updated Information - page 20. (Read 2761606 times)

hero member
Activity: 854
Merit: 1001
Lots of people bitching about marketing, but few actually stepping up and helping out. If u have an idea to get NXT some love and attention , propose it to the community, see what happens. If you get support, roll with it, and carry out your plan.

The committee (s) are not here to hold your hands and tell u what to do.....they are simply a financing option if you have a plan and need some help to carry it out.  

I suggested a plan of action a while back, I guess non of the marketing committee members thought it was a valid solution. Theres is a clear difference between strategy and tact

There's also a clear difference between what everyone thinks the marketing committee should be doing, and what it's actually tasked with doing.  

The committees (all three of them) were elected to manage funds.  That's it.  Collective memory is fuzzy in this regard, which is unfortunate.

All of the committees, in their own way, are moving past their mandate, under their own initiatives, to architect bounties and other means of spurring development in many areas related to Nxt.  The committees are NOT – contrary to many views – tasked with doing the work.

The Marketing Committee exists to help YOU create marketing. Here is our voting procedure, and here is where you can submit your proposal for funding.  I wholeheartedly encourage you to apply, since we have a bunch of Nxt to give away and not many people asking for it.

+10 to JF, and I've got an idiot marketing idea I'm gonna float on the other forum......

Talking of which:


Moved all serious discussion of NXT to:
https://nxtforum.org/index.php


DO NOT FEED THE TROLL!

hero member
Activity: 490
Merit: 504
hey Dave, how is our speaker slot going?  Wink
hero member
Activity: 854
Merit: 1001
Been workng IRL for a few days, so not much crypto time. Not that I missed much..... Angry
Best summary of our current situation I've read in a while:

I take the IRS's decision that Bitcoin is a commodity as a really bullish sign for NXT.  NXT's decentralised asset exchange has astronomical potential as a valuable platform for businesses.  If Bitcoin finds difficulty as currency, then investors will be looking for technologies that can offer something more in line with the IRS's decision.  NXT's decentralised asset exchange is very much aligned with the IRS's decision because it allows businesses to perform IPOs, issue stock and automatically pay dividends, all of which are not currency-related tasks.  NXT is the next big thing on the horizon.

Sure Bitcoin makes a great commodity like gold, but NXT also offers 1 minute block times, energy efficiency and decentralised asset exchange.  The NXT developers just need to make it easier to install and setup with a single installer.

+ much
hero member
Activity: 546
Merit: 500
PGP 9CB0902E
Coinmarketcap uses more than one source to calculate medium price, and one would also have to take into account the price refresh rate.
Right now, Bter NXT/BTC is holding just a bit less than half the vol, with DGEX coming second with one third of vol.

10. Nxt (0.15 %)
Source   Pair         Volume (24h)         Price         Volume (%)
BTER           NXT/BTC    $ 40,610   $ 0.020662      43.41 %
DGEX           NXT/BTC    $ 28,570   $ 0.020492            30.54 %
BTER           NXT/CNY    $ 13,893   $ 0.022086            14.85 %
Cryptsy   NXT/BTC    $ 10,175   $ 0.020666            10.88 %
Poloniex   NXT/BTC    $ 123           $ 0.021246      0.13 %
Vircurex   NXT/BTC    $ 121           $ 0.024285             0.13 %
NXT-E   NXT/BTC    $ 60           $ 0.019697              0.06 %

Total/Avg   $ 93,553   $ 0.020827   

  it's not coinmarketcap punishing us, its the markets Grin
hero member
Activity: 574
Merit: 500
Well basically:

Look at the crypto world like a big investment world. Because all those coins are very much linked to each other (mainly because most coins are traded Crypto/Crypto) they will swing in a similar matter. So basically if most of the coins decrease in price, than the other coins will most likely follow. I am not only talking about the absolute fiat value but also BTC exchange rate.

This risk is called systematic / systemic risk and it is NOT possible to diversify against that risk. It is just there, nothing you can do about it!

To calculate this risk, you have to look at an index. The index in the crypto world is a portfolio where each coin has a stake depending on its market capitalization. And because BTC has over 90% (roundbout that) of all the market capitalization, you can savely take BTC as the INDEX.

Now the index has per definition a Beta value of 1, meaning that each other coin that has also a beta of 1 will swing very similar to this index  (BTC). The thing with smaller coins is: they don't have a beta of 1, they are more risky. Higher volatility, but also higher "expected" value.

Let's say a coin like litecoin is a tad swingier than BTC and has a beta of 2. This means that if the market moves down (BTC) the litecoin price will drop EVEN MORE! But on the otherhand , if BTC (index) moves up, Litecoin will rise even more . This is all on average, just because it is expected each time, doesn't mean it happens at each swing.

Litecoin with a Beta of 2 is a comparatively solid coin (taking about price swings) , other coins will have an even higher Beta and higher volatility.

In conclusion, just because NXT drops significantly in value, doens't mean NXT or the marketing failed, it is just expected and predicted.



Do you think we get punished on coinmarketcap too as the opening page reports in dollars and that is what people see?

Bter says we have lost 10% in the last 24hours (Nxt/BTC). coinmarketcap says 17%. Are we taking a hit from two exchange rate pairs going from Nxt > BTC > USD, both of which have done badly today? Or has Nxt lost 17% on an exchange somewhere and that is what is being reported.
full member
Activity: 210
Merit: 100
Well since their tasks are limited to fund management, I think we need another hand or group who will take suggestions or come up with long term targeted strategies for marketing and then execute..

I agree.  What role can you play in this initiative?

I am suggesting this from an experience perspective and what is likely to work, case in point Mastercoin: they barely had a functioning prototype, but they were able to come up with a marketing strategy, hire professional marketing agency to get through to the right channels... I would say their campaigns has been widely successful even though 8 months later they are yet to have complete dec exchange

Mastercoin's "marketing" writes cheques for Mastercoin that Mastercoin could not (and still can not) cash, and now Mastercoin is paying a price (in loss of interest, missed expectations, etc.).  I don't think Nxt needs to go down that route.  We already are, anyway, by promoting many features that are not yet finished, or even fully designed.

Any marketing plan that may be developed for Nxt MUST depend on plans that are already in place for technical development.  We will succeed by marketing what exists; not that which cannot accountably be delivered.

The other "scapegoat issue" here is that Nxt is riding on Bitcoin's coattails, and Bitcoin is riding on a very limited level of awareness in the global community.  Take 7billion people in the world, and then assume (under the best possible circumstances) that a few hundred thousand people actually understand and use Bitcoin (there are millions of addresses in use, but it's impossible to calculate a number of users from that figure.  Anecdotally: I work in a dedicated high-tech IT environment, and almost NOBODY knows anything beyond "Bitcoin is some kind of internet money, right?").  Any digital currency aside from Bitcoin has its "audience pool" limited to people who already understand and appreciate the principles of cryptocurrency.  

Right off the bat, the "reach" of Nxt is VERY small.  In order to increase it, we have to join the fight that Bitcoin is waging, which is educating the general public on  the principles and benefits of cryptocurrencies and cryptoplatforms.

So what does that leave?  IMHO:
- communicating Nxt's features to the existing crypto community for the purpose of:
     - attracting developers and testers to assist with existing activity
     - increasing adoption of existing (live, not testnet) features
     - providing alternative platforms for "Bitcoin 2.0" development

We can't promote a new client until we have a new client.  Offspring is the only one I would be proud to promote right now as a "ready to go" client.  I would also proudly promote wesley's client WITH the caveat that it's still in development AND operating on a testnet -- but that fact alone is enough to make people want to wait.  The only thing worse than a lack of "call to action" is a call to action that does not deliver ("come and try this new feature! .... but download this first... and then log into a test network.. and then register on this forum and ask for test coins.... and then don't be surprised when the testnet is reset and your coins disappear... and also watch out for bugs..." etc.)

Maybe someone with the free time, experience and drive can at least do something.

Find that someone, and we can begin.  Otherwise it's just an endless game of blame and scapegoating.

The PROBLEM is lack of dedicated resources.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
Well basically:

Look at the crypto world like a big investment world. Because all those coins are very much linked to each other (mainly because most coins are traded Crypto/Crypto) they will swing in a similar matter. So basically if most of the coins decrease in price, than the other coins will most likely follow. I am not only talking about the absolute fiat value but also BTC exchange rate.

This risk is called systematic / systemic risk and it is NOT possible to diversify against that risk. It is just there, nothing you can do about it!

To calculate this risk, you have to look at an index. The index in the crypto world is a portfolio where each coin has a stake depending on its market capitalization. And because BTC has over 90% (roundbout that) of all the market capitalization, you can savely take BTC as the INDEX.

Now the index has per definition a Beta value of 1, meaning that each other coin that has also a beta of 1 will swing very similar to this index  (BTC). The thing with smaller coins is: they don't have a beta of 1, they are more risky. Higher volatility, but also higher "expected" value.

Let's say a coin like litecoin is a tad swingier than BTC and has a beta of 2. This means that if the market moves down (BTC) the litecoin price will drop EVEN MORE! But on the otherhand , if BTC (index) moves up, Litecoin will rise even more . This is all on average, just because it is expected each time, doesn't mean it happens at each swing.

Litecoin with a Beta of 2 is a comparatively solid coin (taking about price swings) , other coins will have an even higher Beta and higher volatility.

In conclusion, just because NXT drops significantly in value, doens't mean NXT or the marketing failed, it is just expected and predicted.

sr. member
Activity: 338
Merit: 250
ITT: People that don't understand systematic risk!
Than explain it to them.
legendary
Activity: 1680
Merit: 1001
CEO Bitpanda.com
ITT: People that don't understand systematic risk!
hero member
Activity: 574
Merit: 500
Ola: I've got it in my OneNote. As I said, I already contacted author of this text 3 weeks ago. Few days ago was published this text - http://www.forexminute.com/bitcoin/nxt-the-next-generation-of-cryptocurrencies-27867 - and it was retweeted to tenths of thousands people. Before we can write cool letters for businessmen, we need to get attention of geeks, cryptoenthusiastics and journalists, then we can show published articles to businessmen. Who wants to help with letters for businessmen, here is the link: https://nxtforum.org/nxt-promotion/letters-for/

ahh ok good, you are at least thinking in this direction, I don't think validation from geeks/influencers is necessary to get the businesses moving, business at least most that I know off are driven purely by profits. If you look at counterparty, there are already businesses lining up to issue shares using the protocol and counterparty is not very popular with crypto enthusiast at the moment due to the data storage issue

Any further info on these?
sr. member
Activity: 756
Merit: 250

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.

Criticize all you like, just don't say that initial distribution was somehow unfair when the prices are still so low.
legendary
Activity: 2212
Merit: 1199
I am just wondering about what will be effect on NXT market during this price drops of BTC ...

This year started very badly for cryptocurrency world ... I believe this situation will get better soon!
sr. member
Activity: 338
Merit: 250

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.

215/220 of those 222 add nothing new.They copy something and thats that.That is why they have brief life cycles that usually ends with a pump n dump . Nxt is building a whole new ecosystem and that takes time.It can success or it can fail,but its too early to judge yet.

When isn't it "too early to judge" anymore?

Is this based on:

- market cap?
- user base?
- number of projects finished?
- age?

I've speculated with quite a few (shit) coins and when it get's difficult the standard reaction is: "stop complaining it's still early days".
full member
Activity: 224
Merit: 100

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.

Early days pretty much means before mass adoption or going mainstream like Bitcoin. I think this applies more to NXT than most other alts because it's a completely different beast - the rest of the alts have piggybacked off Bitcoin's source code or are even using Bitcoin's blockchain.

Pandaisftw
sr. member
Activity: 288
Merit: 250

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.

215/220 of those 222 add nothing new.They copy something and thats that.That is why they have brief life cycles that usually ends with a pump n dump . Nxt is building a whole new ecosystem and that takes time.It can success or it can fail,but its too early to judge yet.
legendary
Activity: 2142
Merit: 1010
Newbie
and now i have to get to the airport for my third vacation  Cheesy go go nxt !!!

So u can't afford a never-ending vacation? I knew that u lie about having 100M NXT.  Cheesy
full member
Activity: 168
Merit: 100

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.


it is just early to sell all my nxt, busy to get rich for the second time! buy nxt thank you all!!! long live nxt!!!!

and now i have to get to the airport for my third vacation  Cheesy go go nxt !!!
sr. member
Activity: 338
Merit: 250

It is still the early days, price for NXT is very nearly zero, and nothing is preventing you from buying. Your complaint is bogus.

People keep saying it is really early days...
NXT is live since 4,5 months. In the early Bitcoin days, that was like being a baby.

Today is a different world. Currently there are 222 currencies (mostly shit) on Coinmarketcap. A lot of them are dead after 4,5 months...
Yeah, yeah, NXT is a 2.0 crypto. Most people don't know what that means and don't care.

When will the line "NXT is alfa/beta/new/a baby" get old?
Is this after a new easy client? Is it after AE comes to live (which is alfa/beta/new/a baby for the first X months of course  Wink )?

I think that people use the "it's early days" argument as an excuse for whatever and to shut up unwanted criticism.
full member
Activity: 168
Merit: 100
I take the IRS's decision that Bitcoin is a commodity as a really bullish sign for NXT.  NXT's decentralised asset exchange has astronomical potential as a valuable platform for businesses.

How can we present the difference between Nxt asset exchange system and Mastercoin's or Counterpartie's to general audience? How can we present the asset exchange in cool examples?

Contribute right now with examples and sentences that will be used in our posters/banners/articles/videos. Right now: https://nxtforum.org/general-discussion/advantages-of-nxt-over-bitcoin/ or https://nxtforum.org/nxt-promotion/promotion-of-ae/

short:

you overly paid sob and thief did shit for nxt, all you have done so far is parasited on nxt community and sell your donated nxt on bter.

now you even ask others what to do? i hope you are joking yes?
Ola
sr. member
Activity: 311
Merit: 250
I take the IRS's decision that Bitcoin is a commodity as a really bullish sign for NXT.  NXT's decentralised asset exchange has astronomical potential as a valuable platform for businesses.

How can we present the difference between Nxt asset exchange system and Mastercoin's or Counterpartie's to general audience? How can we present the asset exchange in cool examples?

Contribute right now with examples and sentences that will be used in our posters/banners/articles/videos. Right now: https://nxtforum.org/general-discussion/advantages-of-nxt-over-bitcoin/ or https://nxtforum.org/nxt-promotion/promotion-of-ae/


I responded here:
https://nxtforum.org/index.php?topic=272.msg7473#msg7473

I want to see a matrix...basically get me a list of all comparisons side by side..and I will deliver a beautiful matrix that people will see and immediately understand  5- 1 week del time

starting point:  http://www.ofnumbers.com/2014/03/04/chapter-9-conclusions/
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