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Topic: NXT :: descendant of Bitcoin - Updated Information - page 2115. (Read 2761650 times)

sr. member
Activity: 308
Merit: 250
Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.

Yes, but too much of a decrease in price will look bad in the eyes of others.
full member
Activity: 126
Merit: 100
Quote
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

Quote
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes.

I'd also love to see this.  Can this info be extracted from the blockchain?

Of course, everything is in the block chain.
legendary
Activity: 1372
Merit: 1000
Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.
sr. member
Activity: 262
Merit: 250
I hate my family
Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

I've been thinking about it... wondering why the major stake holders sell so slowly.

Then I realised, that unlike BTC, major holders of NXT are not inclined to sell much.  Why?  Because the NXT they hold is their "mining/forging hardware".  They will just continue mining and selling what they mine.  Perhaps they will sell a few million or hundred thousand here and there, but they will hold onto most of it.

Call this "Xibei's Principle".

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking
b) their NXT is their "mining hardware"

Additionally, unlike BTC, where you must keep buying more and more mining hardware to compete with increasing difficulty and other miners.  With NXT, your holding of NXT always pretty much mines you the same amount, no matter how many more people start mining.  There's no need to reinvest into more "mining hardware".  They would only sell at a very attractive price, and the price they have in mind will have the decentralised exchange in mind, probably like $10 per NXT.

Oh, and unlike BTC and other energy hungry proof-of-work systems where you mining hardware depreciates and must be replaced (as it get's older and slower and burns out), NXT's virtual "mining hardware" (aka your NXT holdings), appreciate in value.

So, that's why major stake holders don't sell fast and the market will not shake and the price will keep climbing.  They will just sell whatever they mine, a bit at a time.

NXT is genius.



+1. And the herd of sheep can't do simple math and think 10 cents is cheap, when you're talking about all 1 billion coins, and that it's at 600,000% at what was originally put in.
hero member
Activity: 644
Merit: 500
Then I realised, that unlike BTC, major holders of NXT are not inclined to sell much.  Why?  Because the NXT they hold is their "mining/forging hardware".  They will just continue mining and selling what they mine.  Perhaps they will sell a few million or hundred thousand here and there, but they will hold onto most of it.

Call this "Xibei's Principle".

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking
b) their NXT is their "mining hardware"
Wow. U're formed some of my thoughts into conception. Exactly! That 10M, 20M... is just like ASICs. "GreenASICs"  Wink Anyway world needs crypto, NXT just superior to other options (at least, for now).
sr. member
Activity: 476
Merit: 500
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going Tongue

The more lower it goes, the more I am willing to buy   Tongue
sr. member
Activity: 308
Merit: 250
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.
We don't need panic machines like you around here, go to the quark guys or something.

I'm simply stating facts?... Anyway, what have you done for nxt?
member
Activity: 98
Merit: 10
Price is now below 0.0001.

good, just another 1000% to go lower Smiley
sr. member
Activity: 308
Merit: 250
Price is now below 0.0001.
sr. member
Activity: 630
Merit: 262
This account was hacked. just recently got it back
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.
We don't need panic machines like you around here, go to the quark guys or something.
legendary
Activity: 2142
Merit: 1010
Newbie
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

That's good. We can lower min fee (to 0.01 NXT) a few weeks later then.
full member
Activity: 238
Merit: 100

Here is the new thread: https://bitcointalksearch.org/topic/nxt-descendant-of-bitcoin-test-net-thread-386304

I don't personally require any donations at this time. I can fund it out of my own expense and previous donations at this time.

OK you guys keep on for now as planned.  for now i wont be in on the testnet, i believe i can design a private net for us all to test on.  it will require everyone to change IPs later though.

would be a good idea for you guys to get it running now, just be ready for the storm.... give me a week or 2 and I should be able to whip something up.  Im a forums admin so i can create private groups etc for us to converse privately in.

just give me a bit of time
member
Activity: 98
Merit: 10
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

I guess $0.10 per coin was their first sell target.
legendary
Activity: 1372
Merit: 1000
Quote
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

Quote
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes.

I'd also love to see this.  Can this info be extracted from the blockchain?
hero member
Activity: 644
Merit: 500
Stop buying these coins so high.
People, buy high, sell low. No thinking required!  Grin
hero member
Activity: 714
Merit: 500
Also, everyone knows

First rule of crypto - don't sell too soon.
+1 always happens to me. Sell then price goes up :-/
sr. member
Activity: 308
Merit: 250
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.
legendary
Activity: 1232
Merit: 1001
It also depends on how much Nxt you have and your appetite for risk. If I am holding 20million + Nxt right now, I will probably sell some eventhough I have a very high expectation for Nxt. But since I have much less than that I am going to sit tight at least until 1Nxt = 0.001 Btc.
So as times goes one, we will gradually have a more equal distribution of Nxt.
Why BTC-centric?  I have some BTC, but they just sit on an SD card.  Doing nothing.  Been bored since I moved them off (for tax reasons).  Nxt has been quite interesting thus far.  Aliases, Messaging, Colored Coins - Oh my!

Expand functionality or die.

Gordon Brown, is that you?
legendary
Activity: 2142
Merit: 1010
Newbie
So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking

....

Hm, I should stop telling about new features...
legendary
Activity: 1232
Merit: 1001
Also, everyone knows

First rule of crypto - don't sell too soon.
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