Topic: [NXT] I'm skeptic about the value of a NXT coin. (Read 3028 times)

I know what u mean, i do feel like the NXT Train has already left. I mean i do see there being a room for 100x growth anymore :/

@BldSwtTrs Gold inflation has a cost (i.e. the introduction of new physical gold in the market needs energy). Gold can be used as money and in jewelry. It is also useful in industrial applications. BTCs can only be used as a medium of exchange BUT at least their inflation has a cost. NXT coins has no inflation: there is no initial cost in introducing them in the market. Accordingly, their initial price seems a totally random choice.  The NXT technology has value, sure, but it has nothing to do with the price of a NXT coin. What drives NXT coins price? Energy? NXT is "green". Scarcity? We can have an unlimited number of NXT clones an alternatives. Are NXT coins backed by government intervention, law and guns? No. At the end, NXT coins are only backed by people that bought them at certain random price and hold them for an interest that can be received by running a node. In my opinion, the cost of running a NXT node is very low and this will soon be reflected in the price of NXT coins.

Of course gold is backed by nothing. You really need to take some courses of basic economics.

But I cannot blame you, some of the most prominent economists (Greenspan, Shiller, Schiff, Krugman) don't understand basic stuff such where value comes from.

that is not the definition of value but the definition of WASTE.

the fact that NXt does not waste that much electrictiry (as there's no hardware mining, but just virtual mining) is of value in itself.
wasting electricty is an hindrance...that's why any comparable technology is more valuable if it consumes less electricty.

the Value is ultimately determined by what people are prepared to pay for it.
Bcnext said that all Nxts were worth 21 btc. people met his demand. then some markets (a couple of exchanges) valued it higher than that.
untill Nxt is traded on a global market (and not on some unknown exchanges) I would say iits value is  unknown.


as a technology I value it...and would never sell 1 Nxt for less than 1$ unless a better technology comes out.

NXT is manipulated upwards heavily, by a few big holders who control all the coins. Look at the price movements of the coin and tell me that's not true.
Doesn't mean you can't make money off that.

Technically the dollar bill has no backing, either. So get rid of all your fiat too! Trade pots and pans for items and services like they did in the old days!

@Isildur23 I'm skeptic about the value of NXT coins, I do not say nothing about the NXTCRYPTO project :-) You can say that NXT coins have value because NXTCRYPTO is pushing real innovation. Ok, it is an answer. Nevertheless, the relation between the two is far from obvious.
@mek300 NXT is green, guy :-)

We can state that VISA has a stable technology and infrastructure. VISA can promote VISACOIN (VSC) setting its value as $1 for 1 VSC and it can prove that the supply is limited (e.g. by promoting P2P open source software). VSC coins are create out of thin air (such profit!). But what happens if VSC is traded in the free market? There is no trusted authority that guarantee to buy back yours VSC. Free fall, bye bye (VISA can sustain the market placing a big ask of VSC coins at $1 each using a portion of the initial profit, true, but it is another story...).

The value ("incentive") should be the translation (transformation) of "CPU time and electricity that is expended" (quote from bitcoin white paper).

@BldSwtTrs You are wrong about Bitcoin. Probably, you also think GOLD is backed by nothing, right?
@instacash The question seems clear to me. Is my English not good enough (not my first lang)?
@nextgencoin thanks.
@gadado thanks.

Let us assume you have some NXT coins and you are speculating about their value. You have to decide to sell your NXT coins, buy more of them or wait. Decisions are *usually* based on some assumptions, facts, beliefs and so on. I'm interested in such aspects. I'm trying to understand how owners reason about the value of their NXT coins, why they see value in them.

Well, if you read at least one article about Nxt (before saying that it has no value) you will understand why it is so valued
Maybe start from this http://bitcoinmagazine.com/9826/nxt-proof-stake-new-alternative-altcoin/

His post makes all sense.
A coin get's value when it can be used to buy goods. This can be all sort of reallife goods and fiat currency.
Bitcoin for example became a real value for me once I faced the problem that I can only buy some specific goods with bitcoins.

Once you can buy goods like fiat currency or other coins that you can change into fiat currency the speculative point is attracting people. Will I get more goods for them to a later point?

Now think about what NxT offers. I have the very same problem like you: Where is the value in Nxt? Where is it superior to others?

The Nxt cult ppl fail to address that question and give you all sort of not really relevant answers. As you can see most ppl don't understand your question at all.
When the potent buyers think the same way the coin can get value without haveing any value. It's just a speculative value. Even I have to think seriously if I don't want to get a few of that idiotic coin and hope on buyers just because of this false thinking of the ppl.

How are you judging value? Some people in the media suggest Bitcoin has no value but what they don't understand is that the bitcoin system has great value as a transportation and store of value. The internet simply carries 1's and 0's but no one would suggest the value of the internet is small.

NXT has real value because it improves greatly on the payment system of Bitcoin. Just to name a few it will have messaging which will be anonymous, snapchat was worth a few billion and that just one feature. There will be trading inside the wallet so no need to round trip to an exchange, making exchanges almost obsolete. there are a load more features planned for it. So suggesting it has not value when it 'potentially' could be the global mover of wealth around the world is a touch silly. It might not get there of course but that where speculation and hope of future growth comes in. Last time I checked twitter made zero money but the potential to monetise is massive hence the share price and everyone wants to buy it on that future hope.

So IF NXT became and I know it's a big IF the main future of money globally then you could argue at this point it could go up 1000000% or much much more. I mean it would be worth most of the money in the world.....and I'm pretty sure Dogecoin is not going to get there, so really the question is what will be the most used cryptocurrency or collection of them cause that is ultimately what we are all betting on here...


By the way it's very possible your just trying to jawbone the price down! but I'll take your question at face value.

Your post makes no sense

All cryptos are backed by nothing, including Bictoin.

You should sell them all and return to normal occupations.

Three answers of no value... probably my question is not clear. I know how a price is formed.  What I do not understand is the logic behind NXT pricing: why a seller considers 1 NXT overvalued and why a buyer considers it undervalued. From my point of view it seems NXT is backed by nothing (worst than fiats), hence the market will soon reach a consensus about its "real" value: something close to zero X (where X is your preferred currency).

This. The value of anything is only what someone is willing to sell for AND what someone is willing to pay. 1 NXT could be 50 billion BTC if someone were willing to pay that much and someone else would buy it.

The buyer and seller will meet at a price that both agree to pay/buy at, this is called equilibrium.

It's the same thing with any type of "good" or "service".

It comes from the fact that 2 people agree that 1 wants to sell and 1 wants to buy for a given price

One function of the market is computing the value of something. Value is usually measured in one or more units (e.g. BTC). What are the aspects considered by the market to guess the value of 1 NXT? Honestly, I do not understand where the value of 1 NXT came from.