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Another Asset for the NFD ecosystem! I'm proud to unveil another new gateway, like NFDNxtty (https://bitcointalk.org/index.php?topic=901602). This will enable you to buy and sell the hottest Nxt Asset with NFD: Supernet (http://www.supernet.org/en/)!!

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Supernet, symbol UNITY, is the latest and greatest Asset from Nxt rock star jl777! Because of his impressive track record with his earlier Assets, whales threw a gusher of BTC and Nxt at the IPO for UNITY. As these charts from Nxtblocks and Bter show, their confidence in him has been well-placed:



Supernet itself is an ambitious plan to carve a trade-route superhighway right through Altcoin Land! With Supernet integrated, you can use the features offered by several core coins without leaving your own coin's ecosystem.

• Nxt  (http://nxt.org/)itself, the leading gen-2 cryptocurrency offering a whole platform of services.
• BitcoinDark (http://bitcoindark.pw/), which offers anonymity.
• Boolberry (http://boolberry.com/), which offers Cryptonote-strength anonymity further strengthened by Boolberry-unique unlinkable outputs.
• Vericoin (http://www.vericoin.info/), whose wallet will be the first to fully integrate Supernet.
• Chancecoin (http://chancecoin.github.io/), which offers basic casino services using New York State lottery Quick Pick numbers as a source of fair and completely inspectable random numbers.
• Bitstarcoin (http://bitstarcoin.com/), which will provide a commercially-managed ATM portal into the Supernet suite.
• Opalcoin (http://www.opal-coin.com/), which will supply Opaque stealth addresses, secure and encrypted P2P communications and distributed data storage through its Opaldrive.

Once Supernet is out of the skunk works and is fully operational, all of these services will be available in any cryptocurrency that integrates a Supernet gateway into its wallet!

In addition to the above, there will be a whole slew of projects that integrate services like direct fiat-to-crypto exchange, truly decentralized crypto-to-crypto cross-chain exchanges, tradebots, decentralized poker, other kinds of gambling and even the Supernet News Network! Naturally, this bullet list only scratches the surface of what Supernet has to offer. Feel more than free to examine Supernet's homepage (http://www.supernet.org/en/) and poke through the Website to see what Supernet will bring to Altcoin Land. You can also ask any questions you have in the official Supernet announcement thread (https://bitcointalk.org/index.php?topic=762346.0), or here.


NFDSupeNet ASSET DETAILS:

NAME: NFDSupeNet
ASSET ID NUMBER: 256261392791549450
ISSUING ACCOUNT: NFD-T4MX-HYMV-2J6M-AR9KM. Balance inspectable at the NFD Block Explorer (https://nfdcoin.com/wallet/blockExplorer/index.html?id=NFD-T4MX-HYMV-2J6M-AR9KM).
NUMBER OF UNITS: 10'000
BACKING: Dedicated Nxt account NXT-985M-7ERQ-3TNB-GVRCU (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU). Holdings of UNITY identified at bottom of  block explorer page (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU).
BENEFIT: Each unit of NFDSupeNet is redeemable on demand for 1/10'000th of the UNITY in the backing account, sent to the redeemer's choice of Nxt account. If there's a residual amount less than 0.01 UNITY, the fair value of that residual will be sent in Nxt. In addition to the above, the issuer will place sell and buyback orders and adjust them according to market conditions as specified by the Supernet (UNITY) orderbook in the Nxt Asset exchange (https://nxtblocks.info/#section/assets_exchange/market/18128686802152832026). The issuer will make a reasonable effort to keep up with the current orderbook in the Nxt AE, so as to assure a reasonably fair price for NFDSupeNet.
PRICE: Will vary according to market conditions. The same pledge made just above applies to the issuing prices of NFDSupeNet tranches, as does the same reasonable-effort proviso.

To see the orderbook for this Asset: fire up your NFD wallet, click "Asset Exchange" on the left-hand menu, look for the "Add Asset" button in the top-right area of the wallet, click it, put in the Asset ID number 256261392791549450 into the form, and the orderbook for NFDSupeNet will show. You will see buy and sell orders from me, the Asset Issuer. As pledged above, both orders will be a reasonable match for the high bid and low ask for UNITY in the Nxt Asset Exchange. You can confirm this at any time by checking the NFDSupeNet orderbook, comparing it to the UNITY orderbook (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797), the price of Nxt at Bter (https://bter.com/trade/nxt_btc), and the low ask of NFD at Bter (https://bter.com/trade/nfd_btc). Calculation formulas are below.

If you want me to prove I have control of the Asset Issuer account NFD-T4MX-HYMV-2J6M-AR9KM: just send me your own NFD Account ID and I'll send you an Arbitrary Message that'll prove it's my account. If you don't have an NFD Account, just download a new wallet here (https://nfdcoin.com/).


PRICING:

If you remember the charts above, the price of UNITY fluctuates constantly - mainly upwards. :) Because of this, I'm offering NFDSupeNet in tranches, as tied to the low ask of Supernet on the Nxt Asset Exchange (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797). Here's the formula:


The NFD-price denominator will be calculated by using NFD's low ask, not its high bid. The last expression in the formula tracks the growth of the backing account's holdings of Supernet due to dividends.

For example: at the time of this writing:

• the low ask for UNITY (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797) is 309.89 NXT;
• Nxt itself is selling at 5,180 satoshis at Bter (https://bter.com/trade/nxt_btc);
• NFD's low ask there (https://bter.com/trade/nfd_btc) is 2 satoshis; and,
• the balance of Supernet in the NFDSupeNet backing account (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU) is 100.

By the above formula, my offer on the NFD Asset Exchange would be 309.89 * 5180 / 2 * 100 / 10'000 = about 8026 NFD per unit of NFDSupeNet.

This calculation is only an example: if market conditions change, the offer will change with it. Please note that the links in the list will take you to current market data for each, allowing you to calculate a fair offer price using current numbers and to inspect my own offer price.

The same procedure applies to a buyback bid, also from me. It will be based on UNITY's high bid in the Nxt AE (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797). So, the formula for calculating the buyback will be:


Again, the NFD price used will be the low ask at Bter (https://bter.com/trade/nfd_btc). It will not be the high bid.

As of the time of this writing, the high bid for Supernet on the Nxt AE is 300.1. Using the same figures above, except for replacing the high bid for the low ask, namely:

• the high bid for UNITY (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797) of 300.1 NXT;
• Nxt itself at selling at 5,180 satoshis at Bter (https://bter.com/trade/nxt_btc);
• NFD's low ask there (https://bter.com/trade/nfd_btc) being 2 satoshis; and,
• the balance of Supernet in the NFDSupeNet backing account  (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU)being 100

the buyback price would be 300.1 * 5180 / 2 * 100 / 10'000 = about 7772 NFD per unit.

Like the first example, this calculation is meant to be illustrative. The real buyback offer will be determined by market conditions via the same formula with up-to-date figures. As with the offer price, you can inspect the accuracy of my buyback price by getting the current figures from the above links, calculating the formula yourself and comparing the numbers you get to the Asset Issuer's (my) bid in the NFD AE. You can get current NFD AE data by firing up your NFD wallet, going to the "Asset Exchange" page, entering in the official NFDSupeNet Asset ID Number 256261392791549450 into the "Add Asset" form after pushing the respective button (if you haven't already), or by clicking "NFDSupeNet" in your Asset Exchange bookmarks. If you need an NFD wallet, download it here (https://nfdcoin.com/).

Since I have other responsibilities, I cannot promise to keep up with the Nxt AE market: I can only pledge to do so. However, this might mean that you'd find a better deal on the NFD AE than on the Nxt AE. ;)

As for the volume of the bid and offer, I only have 10'000 NFDSupeNet to offer - so the asks are likely to be small in volume. The bids, on the other hand, are likely to be big enough to cover the entire issue of NFDSupeNet that are out of my hands. Because I'll be making a micro-market, you can speculate on Supernet itself through NFDSupeNet. :) I'll make sure that the slippage for you is reasonable.


DIVIDEND REINVESTMENT BENEFIT:

All Supernet dividends received by the backing account, whether in Nxt or other Assets, will be used to buy more Supernet. Asset dividends will be sold at market for Nxt and then invested. I'll make a reasonable effort to get a good price for any of those Assets on the Nxt AE, as well as a reasonable effort to get a good price for more Supernet. Because of this policy, the unit value of NFDSupeNet in terms of UNITY will go up with every dividend received. In other words, buying and holding NFDSupeNet will be like holding Supernet with a dividend reinvestment plan. If you aim to HODL Supernet, doing so through NFDSupeNet will enable you to accumulate it with me doing the reinvestment work for you.  :)

But please note: because of this reinvestment policy, you have to redeem your NFDSupeNet to your Nxt account if you want to keep any underlying Asset dividend for yourself. Please also bear in mind that previous Supernet dividends have been irregular and that there's no assurance that there'll any more.


REDEMPTION POLICY:

Just open up your NFD wallet, click "Asset Exchange" and "My Assets" from the left-hand menu, then click the "Transfer Asset" link beside your holdings of NFDSupeNet, and then transfer the amount you want to redeem to my issuing account NFD-T4MX-HYMV-2J6M-AR9KM. Please also send an attached message with the Nxt Account ID that you want me to send the Supernet to, or let me know on this thread. I'll post every completed redemption here in this thread.


FINAL SUMMARY:

This Asset, NFDSupeNet,allows you to get some Supernet for your NFD without enduring the hassles and slippage that would come with dumping your NFD and buying Nxt. Remember, the above pledge means that I'll be keeping a close eye on the Supernet orderbook in the Nxt Asset Exchange: any change in the orderbook will "flow through" to the NFD Asset Exchange. Since I'll adjust both the sell orders and buyback orders, you'll have a chance to participate in any rise of Supernet without leaving the NFD environment and enduring exchange slippage to buy Nxt for Nxt's own AE. This pledge, I'll hold good on both sides of the NFD-AE orderbook ....until NFDSupeNet is sold out, that is. :)

And remember, you need only Transfer your holdings of NFDNxtty to my issuing account NFD-T4MX-HYMV-2J6M-AR9KM: I'll send you 1/10'000 of the backing account's UNITY holdings per unit of NFDSupeNet to whatever Nxt account you specify! You can audit the backing account NXT-985M-7ERQ-3TNB-GVRCU at any time by either clipboarding the ID into the Nxt wallet searchbox or by looking near the bottom of the page for it in the Nxt Block Explorer (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU) The audit will also tell you how much Supernet you're entitled to per unit of NFDSupeNet you redeem. Just divide the backing account's holdings by 10'000 and multiply by your own haunch of NFDSupeNet and you'll get the amount of UNITY you're entitled to if you redeem your NFDSupeNet. This part of the deal means that NFDSupeNet functions as a dividend reinvestment plan for Supernet.

I'm keeping a close eye on the UNITY orderbook anyway because I'm looking to do a little spread trading of it in my personal account. So, I'll have easy access to current data to adjust my orders on the NFD AE. I keep my NFD wallet open all the time to forge, so I should be quick to adjust to any change In Supernet's price. As I further pledged above, I'll keep the slippage on NFDSupeNet reasonable. :)

Since I can't hover over the data all the time, you'll have the chance in every 24hr period to take advantage of me when I'm asleep. :P But please remember: I can't adjust the orders or redeem your NFDSupeNet until I'm awake and have fired up my own wallets.


Just to remind you, the basic terms of this NFD Asset are:

NAME: NFDSupeNet
ASSET ID NUMBER: 256261392791549450
ISSUING ACCOUNT: NFD-T4MX-HYMV-2J6M-AR9KM. Balance inspectable at the NFD Block Explorer (https://nfdcoin.com/wallet/blockExplorer/index.html?id=NFD-T4MX-HYMV-2J6M-AR9KM).
NUMBER OF UNITS: 10'000
BACKING: Dedicated Nxt account NXT-985M-7ERQ-3TNB-GVRCU (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU). Its holdings of Supernet are identified at bottom of this block explorer page (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU).
BENEFIT: Each unit of NFDSupeNet is redeemable on demand for at least 0.01 UNITY sent to the redeemer's choice of Nxt account. Because Supernet pays dividends, which will be reinvested in more UNITY, this redemption value will be worth more Supernet over time. Supernet dividends are paid irregularly and are not under my control: I just wait for them and reinvest when they come in. I will place sell and buyback orders for NFDSupeNet in the NFD AE and adjust them both according to market conditions as specified by the Supernet orderbook in the Nxt AE (https://nxtblocks.info/#section/assets_exchange/market/18128686802152832026). I will make a reasonable effort to keep up with the current orderbook in the Nxt AE so as to assure a reasonably fair price for NFDSupeNet.
PRICE: Will vary according to market conditions. The same pledge made just above applies to the issuing prices of NFDSupeNet tranches, as does the same reasonable-effort proviso.

NFD is active

Hunh? I went out of my way to show how everyone to inspect it. Gawd, I practically decorated the post with block explorer and AE links...

Oh yes, and getting more active. Latest NFD news here: https://bitcointalk.org/index.php?topic=603932.2540;topicseen

And while I'm on the subject: the Supernet high bid and low ask changed a little while I was proofreading; so did the price of Nxt itself. So, as per the formula in the OP, my offer on the NFD AE is 8100 NFD per NFDSupeNet and my buyback is 7933 NFD per unit. My offer and buyback bids are both for 1000 units of NFDSupeNet.

And I have a feeling I'll be changing the prices for both of 'em soon. :) Supernet's the most active Asset on the Nxt AE, so I'll have a lot of action to keep up with. ;D

This first full day had me jumping for two reasons: the low ask and high bid of Supernet oscillated all over the place and Nxt itself took a flying leap to over 5500 satoshis. This was one of the few days when you could see Nxt at the top of Bter's most-active list instead of Dogecoin.

Trades were brisk too, but the price range was narrower than the dance of the low asks: except for one outlier trade of only one unit of UNITY, its price fluctuated between < 300 - 310 NXT - and most of the trades were at the bottom of that range. This range-bound behavior was mirrored at Bter, where trade was brisk last night & this morning but was confined to a range centered around 0.016 BTC. A large buy drove it up late morning (Eastern time) but that bump was largely cancelled out price-wise by a large sell in the early afternoon.

After a lot of my floundering around cancelling and re-ordering in the NFD Asset Exchange, both Nxt and the Supernet range settled down. Oddly, the spread for Supernet in the Nxt exchange is quite wide now: 301 bid, 324.78 ask. I settled down myself, putting in my offer of NFDSupeNet at 8990 NFD and by buyback bid at 8500 NFD. On a percentage basis, my own spread is narrower than the spread on the Nxt Exchange - but please don't tell anyone. ;)

Merry Christmas to all, and to all a good night - or morning if you're in that part of the world. :)

 

Supernet had another brisk day at Bter, highlighted by a huge buy (or set of buys) very early Christmas morn Eastern time. Although the buy or set of 'em comprised over 12 Bitcoins, it did nothing for the price. About two and a half hours later, more than 5 Bitcoins' worth were dumped but the resultant dive in the price was temporary. Overall, it slid down a bit to ~0.0155 BTC per Unity.

Over in the Nxt AE, the price also slid down but that slump took longer. For a time, the spread was quite wide: 325 Nxt bid, 300 Nxt asked. Except for an outlier trade, though, most of the trades today went at little more than 300 Nxt. Those that were buys into the low ask didn't happen until the ask sunk to 307 or below. There were two large sells at the bid @ ~300 Nxt, most likely from the lucky lowballers who snapped up the >5 BTC's worth of UNITY that was dumped on Bter after moving them to the Nxt AE for a nice arbitrage profit. Nxt itself calmed down, settling into its usual volume and at a little below 5500 satoshis. Yesterday's Nxt run largely stuck, but it also came to a definite end.

Since it was Christmas, my changes of my offer and buyback orders in the NFD AE were relatively sparse compared to yesterday. Unfortunately, the net selling pressure finally exhausted the bids at 300 and the high bid sunk to 295.101. The asks have caught up with the slump somewhat: the low in this side of the orderbook was 304.9 albeit on a small order; there are no big asks below 325. Nevertheless, I adjusted my offer of 1000 NFDSupeNet [equivalent to 10 UNITY] to the low ask as pledged and my buyback bid accordingly too. As I knock off for the night, my offer stands at 8300 NFD per unit and my buyback stands at 8100 NFD.

It's an odd, churny market in Supernet right now...we'll see what Boxing Day brings. I hope y'all had a Merry Christmas!     

Both Nxt and Supernet calmed down at Bter, volume-wise, and Nxt kept slumping back. Contrariwise, the trading of Supernet on the Nxt AE was brisk with the price little changed. But this time, the bulk of the trades were at almost exactly 300 NXT: the highest buy was exactly 305. As a result, the low ask settled in at a little above 305 and the high bid stayed stuck at 300. Sellers are getting used to the lower but more-or-less stable range: the sell wall at 305 & fractionals is a lot thicker than it was yesterday. Contrariwise, it would take a dump of only 11 UNITY to push the high bid back to 295ish.

Accordingly the changes in the bid and ask for NFDSupeNet were mostly lowerings on both sides of the book - but the main cause was the softness in Nxt. Since the spread is narrow in the Nxt AE, the spread for NFDSupeNet is also narrow: 8200 NFD ask, 8025 NFD bid. There it stands until tomorrow morning.

The slideback of Nxt continued today: it bottomed at below 5100 satoshis before picking up a little. That pullback from its recent high of >5500 satoshis, plus the cooling-down of the Supernet market on Bter, meant that my order-pair adjustments for NFDSupeNet were mostly downwards today.

In the Nxt AE, trades started slow volume-wise but picked up to a nice clip as of mid-afternoon Eastern time. Unfortunately, this pick-up was caused by a bit of dumping that dragged UNITY's price down to 290 Nxt. A later bounceback only brought it to the high 290s: 300 is now out of reach. Bter saw a similar slump, down to 0.0154 BTC, but on very low volume. The double whammy of Supernet slumping and Nxt sliding did not call forth any appreciable dumps on Bter.

In fact, the tiny volume on Bter is a good sign because it says that Supernetters with UNITY in Bter are holding on to what they've got. There was some dumping on the Nxt AE, but not all that much. So, even though the high bid is only 285 Nxt, the low ask has settled in at 298.99. A wide spread, but both near-to-market orders are really big. It looks like we have a stand-off right now. The good news is, Supernetters are not losing heart: even today's dumps in the Nxt AE were small.

Because of that double whammy, the bulk of my adjustments of my offer and buyback orders in the NFD AE were mostly downwards. As I put this day to rest, my offer of NFDSupeNet is at 7600 NFD and my buyback stands at 7350 NFD. Not that good a spread, but it's a little better than the Nxt AEs. It's enough to get me through snoozing time. :)

With Nxt mostly listless albeit in an upwardly direction, and NFD still stable, the adjustments of my offer and buyback orders for NFDSupeNet were prompted by the dances of the low ask and high bid of Supernet itself. What happened today was not encouraging, although there's little reason to despair.

It's a bit of an odd market, actually. A widening of an Asset's spread means an increasing divergence of opinion as to its fair value, or else changing priorities by the order-makers or arbitrage maneuvers. Frankly, I think it's the last that widened the UNITY spread so much today and the second-last that's keeping the bid low. The volume at Bter picked up to 10 BTC, and the range of fluctuations widened mostly to the downside: today's action was like a coil that centered around 0.015 BTC per unit. Early morning Easter time, UNITY was knocked down to 0.01245 by a big dump totalling more than 2 BTC's worth. It took its time recovering, although only a small buy was enough to push it back to a little below 0.015. But there it stayed until a much bigger buy or set of buys totalling almost 2 BTC's worth kicked in just before noon ET. That buy pressure was enough to push it above 0.015 even though it sunk back down to ~0.015 mid-afternoon.

Trading was also brisk on the Nxt AE, but sells predominated in the afternoon Eastern time. There were enough sells to take a big bite out of the bid stack, particularly from one account who (I'm guessing) was the lucky buyer of the Bter dump. That drive-down is explainable as an arbitrage maneuver.

But, except for a hopeful buyer of only one unit, the sells after that big dumper at the price reached at the end of his dump: well below 280. The bid stack has not regenerated as yet. On the ask side, the sellers are still holding firm: the low ask at the time of this writing was 297. But the high bid was only one unit at 265, with the next highest at 263. That bite out of the buybook has not healed yet.

As for why, I think it's because of differing priorities. People who trade in the Nxt AE are focussing their attention elsewhere. If you yourself would like to place a lowball bid for Supernet, this would be the time to do it.

Since I pledged to passively follow the Nxt AE orderbook, I widened the spread for NFDSupeNet as well. This night, I'm calling it a day with an offer at 7700 NFD per unit and the buyback bid at an unusually low 6900 NFD. The spread will probably narrow tomorrow.

As I anticipated last night, the bid stack for Supernet did regenerate - although a large part of the regeneration came from a single buyer offering now to pick up 10 Supernet at every whole-number price from 266 to 282 plus another buy order for another 10 at 265.1. Talk about a long ladder...

What's interesting about this bidder, in addition to the 18-step ladder of bids, is that he or she is a real Nxt whale. The Nxt balance of his or her account is over 1'000'000 of 'em - and it seems to be a personal account. This person isn't much for Assets, but (s)he already has more than 550 Supernet - some of which was bought in the wee hours of the early morning Eastern time. Quite the bargain-sniffer looking for a dump.

Over at Bter, UNITY's price still coiled around 0.015 BTC on low-moderate volume until some big buys and dumps came in late afternoon ET. The tug-of-war ended with the price only barely above 0.015.

On the Nxt AE, there were a lot of moderate-sized trades - including the now-gone top steps of the stepladder that had gone all the way to 292; the same person bought 150 at that same 292 before setting up his or her stepladder. Price-wise, the trades started off in the low 290s, drifted down to the low 280s and then snapped back up to the low 290s as several small buyers hit the ask. But they weren't enough to whittle away the sellbook to get the low ask where it was as of last night. But interestingly enough, Nxt itself climbed enough today to make tonight's high bid close to parity with yesterday's in Bitcoin terms.

As I write this, the low ask is at 295.131 with less than 11 UNITY to go before 297.43. The high bid is 10 at 285; the buywall isn't that thick, but it has mostly regenerated. In accordance with these figures, and in accordance with that nice bounce of NXT, I'm ending the day with the offer of NFDSupeNet at 7700 NFD again and the buyback offer raised to 7500 NFD.   

Although Supernet volume picked up on Bter today, the price still seems to want to sag there - but not on the Nxt AE. UNITY still pokes its head above 0.015 BTC, but it doesn't stay there long. There was a spate of hasty buying around 4:30 PM today Eastern time, but it was more than counterbalanced by a big dump of more than 2.5 BTC's worth that drove the price down to 0.0135 BTC - where there's a very big lowball bid. The Bter bots took notice and adjusted the prices of their orders downwards.

Contrariwise, Supernet's price in the Nxt AE didn't do all that much today. The low ask is virtually the same as yesterday's; the high bid is a little higher. Most of the trades today were at the ask, although they were unusually small. The largest trade of the day - a buy at the ask - was 18 units of Supernet; the rest were all single-digit in volume. Some of them might have been arbitrage bot plays: the high bid on the Nxt AE is the BTC equivalent of ~0.0157. If bots were responsible, they would have been selling into the bid. Some of those small orders did do so; some didn't.

It's a quiet market as New Year's Eve approaches, so 't'ould be the season...

Despite that calm, I was still kept hopping on the NFD AE because of Nxt's recovery today. As I call it yet another night, my offer for NFDSupeNet is staying the night at 8000 NFD per unit and my buyback is sticking with 7900 NFD per.   

Supernet continued its downwards slog today. After holding up well at 0.015 BTC on Bter, two dumps of about 2 BTC's worth each in the evening Eastern time drove the price down to 0.01447. That latter dump was actually part of a bigger order, which was sapped up in two substantial buys at 0.0147 and 0.0146. Since Nxt itself was at about 5560 satoshis at that time, the low of that dump was at approximately 260 Nxt. Whomever was patient enough to buy the dumps got their UNITY at a slight discount relative to the Nxt AE.

Speaking of that, the low ask stayed fairly steady virtually all the time I was watching it but the high bid - after jumping almost up to the ask for a brief time - sagged last night to only a little above the overnight low. The bids that were taken out, were met with Sells which predominated in the morning Eastern time. That Nxt whale, who arranged that stepladder pattern of orders I mentioned two days ago, saw five rungs totalling 50 Supernet taken out by an early-morning dumper. Patience pays.

At least, hopefully it pays. When morning turned to afternoon, the predominance of Sells at the bid evened out to a mixture of Sells and Buys at the ask. But the wee hours of this day's morn (Eastern time) were rough for Supernet. Early-morning dumps in the Nxt AE and significantly larger early-evening dumps at Bter paint a picture of the marginal stalwarts losing heart.

Speaking of pictures, here's the one-month chart of UNITY from Nxtblocks (https://nxtblocks.info/#section/assets_exchange/market/12071612744977229797):


It doesn't look that good. The whalepump on the night of December 19th, which pushed Supernet to an all-time Nxt high of 343, unfortunately made UNITY get ahead of itself. Hence the pullback, which was probably accentuated by some hot fad somewhere else. ;)

It looks like the buyers are expecting more dumps overnight; as I write this, the high bid on the Nxt AE is only 273.1 even though the low ask is 287.4: it's sagged too, but more slowly. Since I expect the buybook to regenerate again, I'm leaving the order pair for NFDSupeNet in the NFD AE where I set it this afternoon: 1000 offered at 7900 NFD per unit with a buyback order for 3010 at 7750 NFD.

Happy New (calendar) Year, everyone! I'll be back tomorrow night as usual.

There was an important new development in the Land of Supernet today, prompted by the same slump I've been commenting on recently. James announced a new offering, of Supernetx2 (https://nxtforum.org/unity/supernet-funds-request-authorization-thread-official/msg144936/#msg144936), which will be backed by the funds allocated for the bonus he would have received (https://bitcointalk.org/index.php?topic=762346.msg10003498#msg10003498) had he met the market-cap goal agreed to by the Supernet community. Essentially, Supernetx2 - which will get double the revenue its 5% would otherwise entitle it to - is a bounty-fund Asset. It's not going to be distributed as a dividend, but will be awarded to freelance workers in exchange for work on the Supernet system.

He decided upon this new Asset because he noticed those dumps I myself have been pointing to. He decided, with more inside information that I'll ever be privy to :) , that the dumps were caused by some Supernet workers selling (some of) their awarded Supernet for Bitcoin - perhaps for living expenses. Supernetx2, as a separate Asset 100% backed by Supernet itself, will shunt aside the dumping pressure that's slumped the price of Supernet itself.

That decision was good of him, and it did have a small but positive effect on both the buybooks and the sellbooks. Over at Bter, both the low bot ask and the high bot bid rose to over 0.015 BTC: the volume was unusually low, but that quiet could be easily pegged to "Happy New Recovery Day" ;) On the Nxt AE, both the low ask and - more importantly - the low bid rose: as I write this, the low ask is 290 Nxt and the high bid is 280.1. Unfortunately, it would take a dump of only nine UNITY to thump the buybook back to a low ask of 272.

Really, the price obstacle facing Supernet is limpid demand. That's just part of the altcoin bear market right now; it was nice to see James take a step to muffle the impact of those dumps. But of course, the low demand right now is completely out of his control. Times like these, when speculators' attention is directed elsewhere or nowhere, are made for buy-and-hold.

That said, the trading on the Nxt AE was encouraging this evening (Eastern time) after a previous slump to 272 early afternoon when the first UNITY trade was made. Three buyers wre willing to take nice stakes at the ask, which raised it and provided pressure for a couple of bidders to raise the top two bids above 280.

Both the bumps in both sides of the Nxt AE book and the slight rise in Nxt itself got me adjusting my orderpair for NFDSupeNet upwards. As I prepare to hit the hay and call the end to another day, my offer on the NFD AE is set at 8100 NFD per unit and by buyback order is placed at 7900 NFD.   

Despite James' resolute new Supernetx2 plan to forestall Supernet workers dumping their bounties into the current weak market, which I discussed in yesterday's post, Supernet continued to slump in Nxt terms in the Nxt AE. As I also indicated yesterday, the chief reason for UNITY's current weakness in terms of Nxt is limpid demand: the weakness is primarily on the buy side of the orderbook. And of course, that demand is out of his control. All he can do is to continue building the Supernet infrastructure and trust that people will eventually see its value. And all that we can do as investors is to hold and be patient while he and his team do their thing.

Supernet actually had a lousy day on the Nxt AE, this time with large dumpers joining the dump party, but for a happy reason. Nxt itself leapt up to the tune of 20% over the last 24 hours. As a result, the dumpers were primarily arbitrageurs who snapped up UNITY for BTC on Bter and dumped into the Nxt AE. As a result, UNITY plummeted down to about 250 Nxt on the AE but actually rose on strong volume to 0.0168 BTC on Bter. Those who bought around 0.015 yesterday and the day before are now sitting on a nice arbitrage profit - if they chose to take it. As the Nxt AE tumble today shows, a lot of them did.

As you may have already guessed, Supernet volume on the Nxt AE was huge as well. The lowering dump price meshes well with Nxt's skyrocketing price, suggesting that arbitrage was the cause this time 'round. That Nxt whale who set up that stepladder of bids I've been mentioning recently got all of his or her orders filled today.

Interestingly, one of the consequences of today's happy arbitrage day is a huge low ask of two thousand UNITY at exactly 250 Nxt. As I write this, thirteen of that 2000 has been bought so far. With that sellbook lodestone in place, Supernet is going to have a very tough time going above 250 unless that ask is moved upwards and/or withdrawn. If Nxt itself pulls back - it shows no sign of doing so as yet - the 250 logjam might well be removed.

In a way, the furious arbitraging is gloomy because it doesn't show a lot of confidence in Supernet as of now. But money is money, and adding liquidity plus keeping Nxt and BTC prices in tandem does have its place. 'Tis still the time to hold.

Because all that dumping mostly cancelled out Nxt's big gains, my orderpair for NFDSupeNet wandered all over the map today: first up, as the Nxt leap redominated, and then back down as the dumping gained the advantage. At the end of the day, Nxt still had the greater force: both my offer order and my buyback order are higher than yesterday's. As I call it a night, I'm leaving the NFD AE with a sell order for 8500 NFD per NFDSupeNet and a buyback order for 8400 NFD. Higher than yesterday, mid-range for the life of this thread.

'Til tomorrow, then. :)

As Nxt slid back after yesterday's rocket ride, Supernet on Bter wasn't long to follow. It got just below 0.017 BTC per UNITY before it arced down to 0.016. Today, the volume quieted down.

It was a different story on the Nxt AE. Remember that ~2'000 UNITY sell wall at 250 I mentioned yesterday? It was snapped up overnight, mainly by another whale who sold it at Bter. After being stuck at 250, and briefly falling a little below, Supernet then went up with Nxt going down as the price rose to 271 Nxt. Unfortunately, that jump in the early afternoon ET didn't last as the afternoon wore on: it reintroduced itself to 250. That's where it stayed until this evening when a couple of small buyers snapped up a little at the ask.

But, the bulk of the activity was arbitrage-related. The BTC price in Bter was a little slow to follow Nxt downwards, so some arbitrageurs helped it down. :) Even now, though, UNITY is still above its recent resting place at 0.015.

All through this, the Nxt AE buywall and sellwall were mostly stable price-wise. Probably due to Nxt's volatility, the normal spread traders were cautions and the spread stayed wide. The buywall was quick to regenerate in the low 250s and the low ask is currently above the day's high of ~271. As I write this, the high bid is 255.2 and the low ask is 273.79. With Nxt failing to hold 6250 satoshis, I offered a narrower spread in the NFD AE for my overnight hiatus. As I bring this day to a close, my offer is 8400 NFD per unity of NFDSupeNet and my buyback bid is 8000 NFD.

In contradistinction to Bitcoin's bad day and Nxt's blah day, Supernet had a really good day. Over on Bter, the recent quiet at around 0.016 broke upwards as punters got the idea that Supernet's recent slide downwards was over. Late morning Eastern time, it actually poked its head above 0.017 when traders saw that 0.016 held against a dump intermission yesterday.

But the action on the Nxt AE was even more remarkable. Not only did the ask rise but also the bid book filled up! As a result, the Nxt AE spread is once again narrow. Today, from the standpoint of Eastern time, buys at the ask - albeit mostly small ones - predominated. Only yesterday, UNITY got as low as 246 Nxt: about 100 Nxt below its whalepump all-time high. Today, it got as high as 290. As I write this, the current bid is 286. The current ask is 289.69.

Today and yesterday hold a real lesson if you're a Nxt whale looking to get into Supernet. When Nxt itself takes off, arbitrageurs buy Supernet at Bter and then flock to the Nxt AE and dump. Here's a tactic worth considering: when Nxt takes off like the proverbial rocket again, keep your eye on it until the excitement gets you almost aching to buy more. Instead, open up the Nxt AE and see if Supernet has taken a dive in Nxt terms. If it has, place a lowballish bid for whatever Supernet you want to buy and wait for more AE dumping. If you price your bid right, you'll snap up a whole load of UNITY at a bargain price - just like one lucky Supernet near-whale who bought at least a couple of hundred of them from the high 250s to the 246 low.

It was calmer for me at the NFD AE, since NFD did not join Nxt in its recent rocket ride, but I did raise the orderpair in step with Supernet's recovery - the buyback bid more than the offer. As I call it another night, I'm leaving that NFDSupeNet offer at 8775 NFD per unit and the buyback bid at 8675 NFD.

The recovery of Supernet today was remarkable, indeed. Tomorrow will show if it holds....

Boy, did Supernet shake off its slump at Bter! Prompted by a spate of buying that pushed its price above 0.017 BTC, it leapt up in a buying frenzy that veteran Supernetters will recognize. Not only has it made a new all-time high in BTC term, but it also accomplished that feat on huge volume. Just have a look at this chart that covers UNITY trading since mid-October last year:


Oh yeah, that's nice. ;D

But oddly, the same run-up has not been propagated to the Nxt AE. There, Supernet traded in the low 280s until the buybook was exhausted of bids above 280. As I write this, the latest trades came from small sellers who sold into the bid. The buybook is thick at the top, but its highest bid is below 275 Nxt.

Oh yeah, that's odd. ???

It's odd because Nxt itself had another blah day where it lumbered along at a little above 6000 satoshis. The Bter bidders seem to know this: the spread is fairly wide and the Bter buybook is pretty thin. Already, UNITY has come off its all-time high of 0.01885 and has slumped below 0.018. There's no arbitrage opportunity anymore: no gain from sending up some UNITY to Bter, dumping UNITY at Bter's high bid, converting the BTC to Nxt at Nxt's ask, withdrawing the Nxt and buying back the UNITY on the Nxt AE. The funny thing is, there were opportunities - but no-one seems to have taken advantage of them. Had they done so, Supernet's low ask would have risen noticeably. Today, it didn't. The only other alternative is arbitrageurs buying were met with dumpers selling - but that process does not square with the excitement at Bter. Price-wise, Bter roared while the Nxt AE yawned.

The best I can say is that a temporary buying frenzy was sparked off by people wanting to HODL, which made Supernet move too far, too fast. No wonder UNITY has slid down to 0.0179.

Given that I'm tracking the NFDSupeNet orderpair to the Nxt AE, the adjustments I made today weren't that substantial. As I call it a day, after adjusting for the widened spread due to higher bids being snapped up, I'm leaving the NFDSupeNet offer at 8700 NFD and the buyback bid at 8400 NFD.

Things were better for Supernet today as the recent buying frenzy on Bter managed to stick. Unlike that whalepump late last month, yesterday's buying pile-on didn't reverse that much. Despite there being a huuuge ----storm of dumping mid-morning Eastern time that pushed UNITY's price all the way down to 0.01644, Supernet managed to recover from the dumpstorm to climb back above 0.017 and even above 0.018 as I write this. Better yet, as Nxt AErs saw that the buying frenzy was not going to be a repeat of last month's whalepump, Supernet's price on the Nxt AE rose today too.

In fact, after drifting down to the high 270s mid-morning Eastern time, UNITY rose nicely. When it turned around, it fluctuated between the high bid and low ask but most of the trades were buys at the low ask. Some of them have been substantial. That demand is a blessing, as the low ask has more than 153 UNITY to go before it's exhausted. It was much larger several hours ago.

Unfortunately, the buybook is still thin volume-wise but so far that thinness has been a non-issue. Lots of buys at the ask have that effect. :)

As I write this, that low ask is set at 294.75 Nxt: a real improvement from yesterday's. The high bid, although small, is at 286.1. Accordingly, although diluted by Nxt's recent softness, I'm leaving both sides of the orderpair higher than they were yesterday. As I call it a later-than-usual night, I'm leaving the NFDSupeNet offer at 8800 NFD per unit and the buyback bid at 8650 NFD.   

Just quickly, I want to say keep going with these daily updates Nxtblg. They are fantastic insight into why the markets are reacting a certain way without having to blow hours reading the multiple information pools/forums around.

It's very much appreciated.

Glad to! There's no need to worry about me stopping because I've become kind-of addicted to writing them. :)

Next one's coming right up...

Supernet quieted back down today at Bter where the price settled back to the low 0.0174s. The buybook there is thin at the top, but there's a huge buy order at 0.017001 and an even bigger order at 0.017. Including two smaller buy orders a little above both these biggies, about 13.25 BTC's worth of UNITY would have to be dumped at market to drive its price down below 0.017. Contariwise, only about 6 Bitcoin's worth of buys at the asks would ramp it up to 0.019. That's a pretty good orderbook, assuming it stays more-or-less the same.

Things are good in the Nxt AE too. That huge low ask at 294.75 was melted away by a nice number of buys, although UNITY did sink to 280 Nxt in early morning Eastern time and had to surmount a new lower ask before 294.75 finally vanished a little before 1 PM ET. It did have trouble getting above that level and was stopped at 296 as the Buys at the ask alternated with Sells at the bid. But both sides of the orderbook are higher than they were when I wrote the last report. 

As I write this, the low ask is 296 and it's got a moderate amount of volume attached to it. Unfortunately, there's a huge sellwall of close to 1000 UNITY between it and 300. As is usual, the buybook is thinner. The high bid is at 287.1.

But that doesn't matter as much as it seems to. UNITY has a habit of recurring whalepumps or buying frenzies that hit all of a sudden and tend to leave its price higher than beforehand when they abate and dumpers come in. The increased demand today did not seem much driven by arbitrage because Nxt itself gyrated along at a little above 6000 satoshs, but it could have been.

Those gyrations kept me busy on the NFD AE. As it stands now, and as it will stand until I get rolling tomorrow, my offer of NFDSupeNet is 8850 NFD per unit and my buyback bid is at 8675. That's a little better than yesterday's orderpair, and reflects Supernet creeping upwards again.

Nxt got whomped today down to ~5800 satoshis, which didn't make for a good day on Bter. Since Supernet's low ask and high bid declined slightly on the Nxt AE, its Bitcoin price got pushed down below 0.017 before it recovered on piddling bot-to-bot volume. The spread as I write this is much wider than it was 24 hours ago: the low ask and high bid are separated by almost 0.001 BTC. The regular bots don't seem to know what's coming next.

In the Nxt AE, UNITY's spread stayed narrow and the buybook is nice and thick in the low 280s. Most likely, those bidders are old Supernet hands who've seen this kind of thing before. ;)

Trading was brisk, if a little light in each trade's volume, with transactions predominantly in the low 290s this morning (Eastern time.) When morning turned to afternoon, however, the price sagged as predominate Buys turned into predominant Sells. Fortunately, the last few hours brought out the Buys again. The last three trades went at the low ask, albeit on small volume.

Another day in the Supernet salt mines. :) If Nxt's spill is ignored, UNITY is still on an even keel.

In fact, the main inducer to me changing my orderpair for NFDSupeNet was Nxt. Because it sunk, I'm leaving the NFDSupeNet offer at 8500 NFD per unit and the buyback order at 8350. That's where they'll stay until I get rolling tomorrow.

Nxt rebounded slightly to ~6000 satoshis in quiet trading, and Supernet's trading at Bter was quiet too. As volume drooped, UNITY settled into a wide range centered at 0.017 BTC. The Nxt community's wait for the new Monetary System (https://nxtforum.org/general-discussion/launching-1-4/) to kick in at block 330'000 has stolen a lot of the thunder from Supernet.

The trading was fairly brisk in the Nxt AE, but unfortunately all but one of the trades today (Eastern time) were Sells at the bid. That selling pressure was enough to keep Supernet in the low 280s in that market, even scraping along at 280 tonight before dipping slightly below. That pressure exhausted the bids in that region except for one that was recently placed a smidgen below the current high ask. Below it, the buybook thins out until the low 270s. Following the pressure, the low ask slipped downwards today too.

As I write this report, that low ask is at 289.9799 and the low bid is at 288.88. Acordingly, I'm leaving my overnight orderpair for NFDSupeNet in the NFD AE as follows: 8610 NFD offer, 8600 NFD buyback bid.

If I had to sum up today's market action in one word, it would be "bored." The selling was almost unanimous, but the buybook accommodated the sellers handily. There's no sign of capitulation, nor does anyone seem to be anticipating it by placing a huge lowball bid. A day of waiting for something to happen, when nothing did.

Or maybe the better word is "distracted." The Nxt Monetary System (https://nxtforum.org/general-discussion/launching-1-4/) is being unveiled as of block 330'000, and some punters might be prepared to snap up some pricey but premium names for new inside-Nxt currencies. (How long do you think it'll be before the symbols "BTC" & "USD" are snapped up?) That unveiling might not be the only distraction, though. GEMZ (https://bitcointalk.org/index.php?topic=758004.0), a Counterparty asset for a new cryptocurrency-enabled mobile chat app that's had a huge pre-sale and a lot of press, starts trading on Bter tomorrow when its presale tokens become withdrawable from Koinify. Given the amount of press it's received, GEMZ is going to be a big-volume coin on Bter.

Because the Supernet team is concentrating on the under-the-hood nitty-gritty, there hasn't been much news for it lately - so it's not surprising that punters would get distracted. Moreover, its price has been fairly stable with a normally liquid market in the Nxt AE so it makes for a good source of ready Nxt. If it's the upcoming "New Land Frontier Stampede" that's prompted today's selling, then the buybook will thicken up once again as the ones who missed out on the best properties come back to good ol' Supernet.  :) We'll find out after Block 330'000.


[P.S. / N.B.: The Monetary System involves a hard fork. If you haven't upgraded your Nxt wallet to 1.4.7, please do so (https://nxtforum.org/nrs-releases/nrs-v1-4-7/). After block 330'000, 1.3.x and earlier wallets will no longer hook up to the network - so please upgrade (https://nxtforum.org/nrs-releases/nrs-v1-4-7/) if you haven't yet.]

Yep, Nxt hit block 330'000 today and things got excited. The excitement made for a quiet and somewhat depressing Supernet market on Bter. But UNITY on the Nxt AE was more active, and the price action was less discouraging. In the former exchange, the price was pushed down by a dump of more than 100 UNITY at 0.01625 BTC: that dump consumed about half of a big bid that's been stabilizing Supernet's BTC price.

On the Nxt AE, there was enough relative action to push Supernet back up to #1 in 24-hour volume. There were a mixture of Buys at the ask and Sells at the bid, including some biggies. A big dumper briefly pushed the price down to 273, but fortunately that called forth some big bidders at that price and above. The buybook is now quite thick in the mid-270s as the former stampeders returned to the market. The low ask is 988.9799: it hardly budged from yesterday's level. The high bid is lower than yesterday's at 276.1103, but the thickness just below it means that Supernet is still on the steady-as-we-go path.

Because Nxt itself slumped today, I lowered the ask as well as the bid for NFDSupeNet. My overnight on the NFD AE is 8550 NFD per unit and my buyback bid rests at 8300 NFD.


Nxt Upgrade Update: If you haven't already, you'd better upgrade to 1.4.7.1. (https://nxtforum.org/nrs-releases/nrs-v1-4-7-1/) You won't see the Monetary System tab unless you upgrade to that specific version.

Supernet had a bad day on Bter today, although its slump was in part caused by Nxt dropping back to ~5800 satoshis. Its volume picked up again, but not in a good way: 0.016 BTC was breached and 0.015 was tested. Although the low ask is currently a wee bit above 0.016, the high bid starts below 0.015 and the highest large bid is at 0.01402. Demand is drying up again, making dumps do more damage to the price than would otherwise have ben the case.

Trading was also brisk in the Nxt AE, but the slump at Bter did have an unfortunate reverberation in early afternoon Eastern time. After climbing to as high as 285, a whole slew of dumping eventually overwhelmed the bids in mid- and late afternoon. When the respite came as afternoon turned into evening, Supernet had been pounded down to as low as 240 Nxt.

But that plunge got the notice of some pretty hefty bidders. As I write this, there's a bid for 1000 UNITY at 265 and 400 at 267.1001. The high bid is exactly 270, which was prompted by yours truly bumping up a teeny buy of 0.1 Supernet from 267 to 269.9.

As for where I got the funds? From the first Asset dividend Supernet has paid out since I started NFDSupeNet. It wasn't much - only  61.3152 units of NXTCS which I got rid of by holding out for 0.19 each - but it's enough for a little extra Supernet provided I add some Nxt that I sent in for orders when I started NFDSupeNet. :)

Since I managed to push up the high bid, I also managed to narrow the spread for this NFD Asset. If a small dumper obliges both the seller ahead of me and myself, the NFDSupeNet backing account will have 100.1 Supernet instead of 100. We'll see.

In the meantime, I'm leaving the overnight orderpair for NFDSupeNet as follows: the offer at 7950 NFD per unit and the buyback bid at 7850 NFD. If my buy on the Nxt AE goes through, each unit of NFDSupeNet will be redeemable on demand for 0.01001 Supernet - as specified in the offering document. 

With respect to the bid and ask in the Nxt AE, Supernet has calmed down considerably: both hardly moved. What a change from yesterday! In the confusion, UNITY's price briefly dropped all the way down to 240 Nxt. In another thread, an Nxt Asset issuer claimed to have taken advantage of it (https://bitcointalk.org/index.php?topic=918032.msg10124090#msg10124090).

Today's trading on the Nxt AE proceeded at a nice clip, but many of the transactions were small. Like the bid-ask pair, Supernet stayed in a narrow range of the high 260s. One of those trades was the Buy of 0.1 for the  NFDSnet_Dedicated Account, so its balance is now 100.1. This buy, admittedly close to the high of the day, means that NFDSupeNet Asset holders are now entitled to 0.01001 UNITY per NFDSupeNet unit they hold.

Although sedate, Supernet's price did soften today: that's why my buy went almost at the top of the range. Bter saw a bried spill all the way down to 0.01414 BCT - on very low volume - but it jumped back up to 0.015 and above. That floor is intact as I write this, with piddly little trades between it and 0.016.

All in all, a slow day. As I prepare to head off to dreamland, I'm leaving the NFDSupeNet orderpair in the NFD AE with the offer at 7800 NFD and the buyback bid at 7700 NFD. Enjoy the calm while it lasts. ;)

Along with Bitcoin itself, Supernet had a bad day today - but only on the Nxt AE. In Bter trading, which was surprisingly quiet, the 0.015 BTC floor actually held. There was a small and a medium-sized dump that pushed its price to the low 0.014s, but again the floor was tested and held firm even though UNITY tumbled on the Nxt AE. What makes this disconnect strange is the fact that Nxt itself was in the doldrums in BTC terms. The implied price of the 0.015 floor is 262.7 Nxt: that's above the current low ask of 259.79 in the AE - and well above its last trade of 245. As I write this, the low ask has jumped up considerably as arbitrageurs have spotted the disconnect. Some lucky fella snapped up the last remaining Supernet offered at 245, so the big arbitrage profit is gone. But there is a small spread left at 259.79, and the 0.015 floor is girded by a solid bid of 41 UNITY.

The day didn't start off this way. In the morning, Supernet was trading comfortably in the high 260s. Early this morning (Eastern time), a whopping 850 were sold at 265 and 265.5. But that huge sell took its toll on the buybook: the next crew of big dumpers faced worse. By about 5:30 PM, when the second-to-last dumper came in, UNITY was barely above 250. The last dumper left it flattened at 245.

Right now, although the sell side has adjusted to the discrepancy between the Nxt AE and Bter, the buy side hasn't. The high bid is at 246.3255 and the bids below it are small. There's not one single bid that's three digits in volume above 227. Getting out of Dodge is becoming pretty costly. Unfortunately, more and more Supernet holders are making that choice.

I can't say that I like the arithmetic, but I have to follow the market. After adjusting both sides of the orderpair throughout the day, as per usual, I'm leaving the overnight offer and buyback for NFDSupeNet on the NFD AE at 7400 NFD and 7100 NFD respectively.

Tomorrow will show which is out of whack: whether the Nxt AE is too low or Bter is too high. Unfortunately, arbitrage pressure suggests the latter - but we'll see.

Supernet's 0.015 BTC floor at Bter proved to be more spongy today, but it unexpectedly held. There was a huge burst of trading in the mid-morning which wore out the Bter buybook, enough so that a teeny dump an hour later had the price reeling down to 0.01355, but again it climbed back up to 0.015 where it is now.

This resilience in the teeth of Bitcoin's recently-halted plummet impressed bidders in the Nxt AE for the buybook to fill up again this evening Eastern time. UNITY's price did plunge to 235 Nxt under sustained selling pressure this morning. That pressure plus the plunge at Bter induced a couple of big dumpers to shove the price further down to 227, but that selling pressure abated in early afternoon. After which, perhaps because it recovered on Bter, Buys started to predominate and the buybook began to refill with bids. Whoever was patient enough to get (a lot of) Supernet at 226-27 could snap up a nice arbitrage profit by dumping into the bids right now.

As I write this, the low ask is 257.89 and the high bid is up to 250.21. The buybook is thin until just below 240, but at least it's coming back. That gave me a chance to raise the buyback bid for NFDSupeNet to 7500 NFD per unit. Nxt doing a little better today induced me to raise the offer to 7650. So the spread is back to a more normal range, where it will stay until I get rolling again tomorrow.

Once again, the floor at 0.015 BTC held for Supernet despite it being bent from time to time. Interestingly, Bitcoin's gyrations over the last two days haven't affected UNITY's BTC price all that much: further evidence for BTC being the reserve currency in altcoin land. In BTC terms, Supernet is still fairly stable.

But its own gyrations continued today in the Nxt AE although settling down somewhat. I really can't say why there's been such a huge move out of UNITY, but arbitrageurs have certainly been thankful. Reversing the action of the last couple of days, Supernet climbed steadily today with the bulk of the transactions being Buys at the ask. The askers who held firm through its tumble are beginning to be rewarded. UNITY even hit 275 in early-mid afternoon Eastern time.

The buybook isn't much better than it was yesterday, price-wise, but it is thickening up volume-wise. There's even one huge order for 420 UNITY at 248.0069 Nxt and there's a solid three digits' worth of volume above it. Any arbs who bought near the bottom during those panic sells are now looking at a decent profit. In Nxt terms, which have become better terms thanks to Nxt waking up and climbing above 6000 satoshis again.

As I write this, the low ask is 274.4799 and the high bid is at a teeny-volume 260. With Nxt's own rise taken into account, the NFD Asset Exchange orderpair for NFDSupeNet is now back in the 8000s. I'm leaving it overnight with an offer at 8400 NFD and the buyback bid at 8000 NFD.

We'll see tomorrow if Supernet keeps calming down, or if some more buffeting (or lifting!) shoves it around in Nxt's AE.

Trading in Supernet quieted down even more today. As I write this, the 24 hour volume in Bter is exactly 1 BTC. That's very quiet for an Asset that's had quite a few 10+ BTC volume days. Interestingly, the 0.015 BTC floor wasn't touched today: instead, UNITY is poking its head back above 0.016.

The same quieting down has appeared in the Nxt AE. There were far fewer trades today than yesterday, and almost all of them were small; a couple were really tiny. The largest trade of the day was only 50 UNITY at 253.1 Nxt. Although the buybook starts at only 255.1 and is thin until 250, it's nice and thick in the high 240s. There are three thick asks around 268, but they're only slightly above the current low ask of 267.451. Significantly, those asks have not been placed by dumpers.

It'll take a lot of demand to get Supernet up to its glory days of >300, but in retrospect we'll see that its huge-volume plummet downwards earlier this week was a kind of capitulation. The impatient hands - including some whales - have been shaken out; the hands left are patient. I have an inkling that those thick asks have been placed by arbs who snapped up the dumps in the 220-40 range and are waiting on a spread profit. People like that will be glad to adjust their asks upwards if they smell another rally coming.

So: what's left is quiet. Tying my NFD AE orderpair to the current low ask of 267.451 and the current high bid of 255.1, I'm leaving my offer for NFDSupeNet at 8000 NFD and my buyback bid at 7700 NFD.   

Supernet trading picked up today, volume-wise, but from yesterday's very low bar. Over at Bter, the 0.015 BTC floor was once again unbreached and 0.016 is still a spongy ceiling. If there's any de facto floor atm, it would be around 0.0155. But please keep in mind that this temporary floor is holding up on very low volume. The highest big bid in the Bter buybook is at exactly 0.015.

Over on the Nxt AE, trading was still slow. Most of them were Sells, but that isn't as bad as it looks: the low ask largely held up and some of the Sells were into high bids that were above 260. The low of the day was 250.5, which hit the next bid below the current high bid. Had it not been for that recent dump at 250.5, the low of the day would have been equal to the high bid at the time I wrote yesterday's report. The other Sells either exhausted that bid or hit new high bids, most above 260.

As I write this, the low ask on the Nxt AE is a thick 95 UNITY at 264.99 Nxt each. The high bid is a thin 1.8 UNITY at 251, but just below it is a thick 20.7686 UNITY at 250.5 Nxt. Nxt's last trade at Bter was 6090 satohsis, and the Supernet orderpair at Bter shows a low ask of 0.0163 and a high bid of 0.01545. Using 6090 satoshis for Nxt, the implied low ask at Bter is 267.65 Nxt per UNITY and the implied high bid is 253.69 Nxt. So, both markets are in line; any arbs have to play a waiting game.

Since the Nxt AE orderpair was close to stable today, my adjustments in the NFD AE went up and down in a narrow range and a very narrow spread until the last remnants of the former high bid at 263.5 were finally sold into. As I call it a night, I'm leaving the NFDSupeNet orderpair at 8050 NFD as the offer and 7700 NFD for the buyback bid.


FYI: SuperNETx2 has now been issued; I just got about 1 Nxt's worth in my main account. The NFDSupenet_Dedicated_Account (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU) got none - and right now, I'm wondering why my main account got any at all. 

Supernet had a mostly dull day on light-moderate volume at Bter today (Eastern time.) Its recent range is still holding; 0.015 BTC wasn't even touched today. As I write this, a Bter bidder has decided that the floor is 0.0154: he or she placed a one-Bitcoin bid at that level.

In the Nxt AE, UNITY sagged but not by much. Trading was light and the trades went off in the 250-260 range. A preponderance of Buys in the morning gave way to a preponderance of Sells due to a single dumper.

The low ask sagged with the price, but the high bid inched up a bit. At the end of a quiet day, the low ask is 257.901 and the high bid is a nice, thick 252.012. With the fury of dumping abating, but with no excitement for Supernet, the days are becoming dull. For now, that is.

So, I'm calling it a night by leaving the NFDSupeNet orderpair on the NFD AE as follows: the offer at an even 7600 NFD and the buyback bid at 7475 NFD. Just to remind everyone, one unit of NFDSupeNet entitles the holder to 0.01% of the Supernet held by the NFDSupenet Dedicated Account. (https://nxtblocks.info/#section/accountId/NXT-985M-7ERQ-3TNB-GVRCU) At present, that 0.01% equals 0.01001 UNITY.

Sad to say, the 0.015 floor for Supernet broke today on Bter. The cause was people pulling their buy orders, leaving the buybook exposed to a small dump that carried UNITY's price down to 0.01406. As I write this, the asks haven't followed along but the low bid is at 0.01407. The first substantial bid is at 0.01404.

This downdraft is beginning to trickle into the Nxt AE, which actually had a quiet and sedate day until just now. The low ask slumped into the mid-250s, but the bid held up well. Throughout the entire day, except just now, Supernet traded in mostly small transactions in the low 250s. With the Bter drop, some dumpers have come in but so far 250 has held. The high bid as I write this is exactly 250 and it has almost 88 UNITY to go. The low ask is only slightly below where it was 24 hours ago.

Is Supernet primed for another dump fest? Not likely. The high bid at 250 is buttressed by more than 500 UNITY's worth of bids at ~248. Unless they're pulled, it would take a huge amount of dumping to push Supernet below that number.

More likely, it'll be another quiet day at around the same price. The current low ask is 254.9 Nxt and the high bid is the aforementioned 250. In accordance with these numbers, I'm leaving the NFDSupeNet orderpair for my regular overnight pause at 7625 NFD for the offer and 7500 NFD for the buyback bid.

From where I sit, the market right now looks like the calm before the calm. :) See you tomorrow. 

Until it shook itself awake this evening Eastern time, Supernet trading on Bter was s-l-o-w. This screenshot the afternoon says more than I could:


Howzabout that: UNITY with only 0.1 BTC more than Nxttycoin in 24 hour volume. For Supernet, that volume is about as fast as a herd of turtles.

But it did wake up later, and in a good way. For most of this day, it traded slightly above 0.016. Even a huge dump of more than 3.5 Bitcoin's worth only pushed it to exactly 0.016. That dump did wear out the buybook, though, and UNITY sunk to the low 0.015s on low volume. Still, something like that was inevitable. At Nxt's current range, 0.016 translates into ~265 Nxt: well above even the highest high ask of the day.

In the Nxt AE, the morning saw two big dumps: both were fielded by the buybook. Supernet's price did not get below 250. Seeing this, buyers ventured in and hit the ask. In the evening, the trades were almost all Buys and their collective effect did whittle up the low ask. As a result, the spread widened upwardly. Many of those Buys were small to moderate.

So far, the high bid hasn't moved much even though the low ask is more than 3 Nxt higher than it was twenty-four hours ago. As I write this, the low ask is up to 257.901 but the high bid is only 250.21. Accordingly, I'm leaving rthe NFDSueNet orderpair on the Nxt AE at 7675 NFD as the offer and 7500 NFD as the buyback bid.

Supernet is really holding the fort. Even big (but not huge) dumpers got out with very little slippage today. That latent demand for UNITY is coming back again. What a change from last week!

The close-to-two-day hiatus is over, and BTT is back up and jumping again. For some, the downtime was like breaking an addiction; for others, it was a like a needed vacation. I'll leave you to guess what it meant for the ADD-prone. ;) Since the markets kept churning as usual, for me it was just another day in the salt mines. :)

Supernet's trading over the last three days has been a little depressing over at Bter, where UNITY slumped from above 0.016 BTC to below 0.014. Thankfully, that slide is going to end for the nonce because the high bid is a very thick 3.5 BTC's worth at 0.0145. It's not been picked at yet: the last trades as I write this have been a little bit higher, including a substantial 0.9 BTC's worth that was bought at 0.01481.

Undoubtedly, that's because the trading on the Nxt AE has been comparatively better. UNITY did dip down to the mid-240s today, but today's trading has largely been at the low 250s after Supernet shook off a temporary dump at 240.23-.33: it hit at just before noon Eastern time. Since then, the buybook has thickened up: the current high bid is a nice, thick 111.2943 at 250 Nxt. The low ask has risen somewhat to 255.001.

In a somewhat gloomy time like this, it's worthwhile to look at UNITY's long-term chart. This screenshot comes from Nxt Block's chart, and spans from the beginning of December to today:


That's not bad for an Asset that's had to endure two whomping dump sessions. Granted that the "James effect" is nowhere to be found anymore, but Supernet has still held up well. That's something to remember when the doldrums give you the blues. :) Trust me: they're far worse for an arbitrageur than an investor.

In accordance with the low ask and high bid on the Nxt AE, I'm leaving the overnight NFDSupeNet orderpair on the NFD AE at 7600 NFD for the offer and 7525 NFD for the buyback bid. Right now, the Nxt AE's pair is fairly stable; the main cause for my in-the-day adjustments has been the gyrating price of Nxt itself. Which itself has remained stable at ~6000 satoshis.

We'll see tomorrow if the quiet continues, or if the markets get stirred up again.

Today, Supernet managed to shake off its dumps on Bter as it recovered somewhat from its recent sub-0.014 low. It has yet to surmount 0.015, but it's close. Helping it is a new bid more than 2.3 BTCs thick at 0.0147.

Unfortunately, it was somewhat of a different story this evening (Eastern time) after a day in which UNITY rose a bit. Sellers came out in force, and were voluminous enough to push both the high bid and the low ask well below 250. Although the dumping was brisk, each dump was moderately-sized. The bid book was kind-of thin to begin with: that's why it sagged. So, accordingly, did the ask. Nxt's stirrings from its 6000-satoshi slumber is the likely factor that explains Supernet slumping in Nxt terms but rising a bit in Bitcoin terms.

As I write this, the low as is at 246.9 and the high bid is at 242.01. Correspondingly, I'm leaving the NFDSupeNet orderpair on the NFD AE at 7575 NFD per unit and the buyback bid at 7450 NFD.

Both Bitcoin and Nxt have perked up recently in fiat terms, which means that Supernet's fiat value is rising nonetheless. So, there is an indirect upside to UNTY's droopiness.

Please tell me any how to sell Pixcoins??

I don't know. If the announcement thread for it doesn't have an exchange listed, you could ask there if anyone trades it.

Supernet had a bad day on Bter, but its plunge was easy to explain: Nxt itself took a plummet as Bitcoin shot upwards on the Coinbase news. Unfortunately, Nxt failed to keep pace: it lost about 6% vis-à-vis Bitcoin today.

Inevitably, that led to another big dump on Bter this evening Eastern time. Almost 800 UNITY rammed through the orderbook and whacked the price down to 0.013 from 0.0146. From there, both the bid and the ask drifted down below that low to the 0.012s. The most recent trading has been trades at small volumes, probably from bots.

On the Nxt AE, Supernet didn't do all that badly until mid-afternoon. Until then, it was trading in the high 240s and even touched 250 by a nice-sized Buy. But then the Sells predominated, whittling away the buybook until the high bid was worn down to 240. Add a dump of 200 UNITY at 238 late this night and you've got a high bid that's now in the high-mid 230s. Unfortunately, the ask has followed suit.

As I write this, the low ask is at 239 and the high bid is at 236. Nxt itself is trading at 5700 satoshis. With these numbers, the implied BTC price of the low ask is 0.0136; that of the high bid is 0.01345. As I write this, the low ask at Bter is 0.01276 but its volume is microscopic: so are all the asks up to well above those implied prices.

In accordance with the formula, I'm leaving the overnight NFDSupeNet orderpair at unusually low levels: NFDSupeNet was hit both by Supernet's slide and Nxt's tumble. The offer is at 6825 NFD per unit and the buyback bid is at 6775 NFD. That's how the gloomy arithmetic works out this day.

Nxt had another rough day today, as it slid down near the 5000 satoshi level before bouncing up somewhat. This may have influenced the steady stream of Sells of Supernet in the Nxt AE: some of them likely wanted to get out of Nxt itself while the latter was tumbling. The selling pressure pushed the price down to the low 230s, and of course took its toll on the high bid. Not so much the low ask, though, which is now significantly higher than yesterday's.   

This could have been prompted by UNITY's relative stability at Bter, where it pulled up a little after being hammered by yesterday's dumping. Trading volume has also quieted down there too. There's a nice bid at 0.013, which in terms of Nxt has an implied price of 249 Nxt. That's higher than the current Nxt AE low ask, so there's an arbitrage play for the nimble who want to sell their Supernet on Bter, buy Nxt and buy UNITY back on the AE. Assuming, of course, that Nxt stays at ~5200 satoshis or goes lower. 

Perhaps heartened by this stability, a couple of small trades in the AE came in at the then-low ask of 247.711. A couple of other sellers came in, so the low ask did drop to its current 244.9899, but that's still well above its low. The high bid is nearly unchanged at 235.3, but it's up from where it was after that stream of selling. Bidders are coming back, but cautiously.

Because NFD's low ask stayed stable while Nxt cascaded downwards, NFDSupeNet again made new lows until Nxt itself turned around. As I wind down for the night, I'm leaving the NFD AE orderpair at 6350 NFD per unit of NFDSupeNet and the buyback bid at 6175 NFD.

Sorry about missing the report last night. Unfortunately, due to a scheduling conflict, I have to bring these nightly reports to an end. If you've been reading them, thanks so much.

I will continue to maintain the NFDSupeNet orderpair as specified in the original post. That won't change. You can see for yourself by keeping an eye on the NFDSupeNet orderbook in your NFD Wallet.

Again, thanks for reading; I'm sorry to go.