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Anybody running a NXT exchange interested in becoming the FIRST exchange for XCP?
Currently XCP is in the same situation NXT was right after genesis, they need an exchange XCP/BTC and XCP/NXT
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Only 0.01 BTC/XCP ?!?
Where will you invest your BTC after selling ? Another altcoin ?
I can't see better coin at the moment because no coin can have a better ROI next weeks and BTC will not grow either 10 fold during next weeks.
And if it occurs, XCP can grow proportionally better...
The first goal is to outreach Mastercoin cap.
Slow and steady is better than big bubble. Need more people to own XCP. In any case, we currently need buyers to establish more volume at .01BTC price. If we can get 10 BTC trading at this price, that is much better than .01BTC Spread the word to people you know that XCP is selling at half mastercoin valuation. Lets get .01BTC price firmly established first. Price is ultimately determined by supply and demand. Right now we need to create some demand at half mastercoin valuation. The early adopters need to make money, otherwise why would they invest? |
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everyone can sell for the price he wants, it is free market, if you are not long term related to the project. anyway I am with James that the price should tend to be in any relation to the marketcap of mastercoin, dont know if it is 30%,50%,75% or parity. But 5% of the price cannot be price relation  We have a 10 BTC sell order at .01BTC! This is equivalent to the 16 BTC for 16 million NXT trade right after genesis, actually much bigger in USD terms Now we just need a buyer to close the deal and establish an actual market price. After this, let the market do what it wants. I strongly urge some rich BTC owners to close this deal to lock in a starting price of .01 BTC. Starting at 50% mastercoin valuation will still be low enough to attact early adopters who will sense there is at least a fast double James |
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Hey, I'm not selling any XCP for a while, maybe a long while. I am just trying to establish what a fair market value is. .01 BTC puts XCP at approx 50% mastercoin valuation.
Maybe some XCP holders didn't know this, I didn't realize the huge disparity in valuation until I looked it up.
If all XCP holders know the actual value of what they have, then it is much less likely for a crazy speculative bubble to form. Granted this links XCP value to mastercoin, but that seemed to be the closest reference point. Gotta start somewhere.
James
P.S. I own a larger percentage of XCP than NXT, so I am fully motivated to help XCP values increase.
Agree, with your comments on valuation. 50% of Mastercoin marketcap(40 Million), would put us around 20 Million(or around 0.01 BTC). If the price starts out too high, then we wont get any more people owning XCP. I think we need to get more people who have XCP. Isn't anybody willing to make an instant 1000%? The more people that get XCP at lowish prices, the more talent we will have in the XCP community. It is a balancing act. High prices are of course nice, but if there is no active market there is no liquidity, so it is all meaningless paper profits. The lower the marketprice, the more liquidity and the price increase will come down the road. But if the price is too high, then a market wont develop and since everybody who wanted to burn probably did, there are no more buyers |
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I reread the original NXT thread and I think one of the key reasons the price of NXT did so well was that immediately after genesis block, a market price of 1BTC per million NXT was established. This was a big premium over genesis price.
I think I saw some price for XCP at .01 BTC on some external site, I like the sounds of that for a starting market price.
If we can all be firm and not sell for below .01 BTC, then that will be the new price.
Someone needs to purchase XCP at .01BTC, I would but I burned all my spare BTC
Any buyer and seller to start the after-burn XCP trade market at .01BTC?
James
Why not 0.02BTC/XCP? Twenty times are essential for IPO. That puts it on par with mastercoin valuation. My guess is that XCP will trade at multiples of mastercoin, but it can't start there. Can it? I guess one way to find out. What is the lowest price anybody here will sell XCP at right now? |
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I reread the original NXT thread and I think one of the key reasons the price of NXT did so well was that immediately after genesis block, a market price of 1BTC per million NXT was established. This was a big premium over genesis price.
I think I saw some price for XCP at .01 BTC on some external site, I like the sounds of that for a starting market price.
If we can all be firm and not sell for below .01 BTC, then that will be the new price.
Someone needs to purchase XCP at .01BTC, I would but I burned all my spare BTC
Any buyer and seller to start the after-burn XCP trade market at .01BTC?
James
Establishing some kind of cartel like NXT is not sane (and I don't believe it's doable with so much XCP holders) Actually, if I've burend some BTC, it's because of the fairness of the initial ditribution and excluded the idea of some happy few shareholders. Now, if you you want to make a quick buck, you're welcome to try, It's a free market at last. But if I were you I'd wait at least the GUI. Hey, I'm not selling any XCP for a while, maybe a long while. I am just trying to establish what a fair market value is. .01 BTC puts XCP at approx 50% mastercoin valuation. Maybe some XCP holders didn't know this, I didn't realize the huge disparity in valuation until I looked it up. If all XCP holders know the actual value of what they have, then it is much less likely for a crazy speculative bubble to form. Granted this links XCP value to mastercoin, but that seemed to be the closest reference point. Gotta start somewhere. James P.S. I own a larger percentage of XCP than NXT, so I am fully motivated to help XCP values increase. |
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Is it credible to say that XCP should be worth at least half of what mastercoin is worth?
If so, that is currently worth more than 0.01 BTC!
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is it known how many burned under 1 btc? That could be a rough estimate how many different people burned.
I estimate 1,000 to 2000 people based on ~3000 total transactions |
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I reread the original NXT thread and I think one of the key reasons the price of NXT did so well was that immediately after genesis block, a market price of 1BTC per million NXT was established. This was a big premium over genesis price.
I think I saw some price for XCP at .01 BTC on some external site, I like the sounds of that for a starting market price.
If we can all be firm and not sell for below .01 BTC, then that will be the new price.
Someone needs to purchase XCP at .01BTC, I would but I burned all my spare BTC
Any buyer and seller to start the after-burn XCP trade market at .01BTC?
James
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I think burn is over
Edit:
Total XCP Earned: 2,648,755.9218 XCP
Total BTC Burnt: 2,124.6302 BTC
Total USD Value Burnt: $ 1,737,182.64
Total XCP Transactions: 3070 transactions
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I definitely think that the fund should be split up into 5 or whatever members of committee so that we can be 100% sure noone steals any. Letting 5+ different people have access to the fund could easily lead to one of them stealing.
We should just use BCNext's solution, but using trust instead of hardcoding acct numbers in the NXT core. 5, 7, 9, 10 people probably doesn't matter too much. Also, funding decisions needs to be separate from disbursement to remove conflict of interest. We need trusted people to hold the funds and then separately experts in each field to determine how to spend the funds. This is how I setup the NXTcommunityfund, except I am probably not an expert in any field. James |
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I don't think anybody has disagreed with the 3 million NXT from unclaimed funds for marketing. Do you want to continue managing that by running polls, etc. or would you rather delegate that to someone else?
I prefer to delegate that to someone else. We already reached consensus about authorizing 3 million NXT for marketing. It is now just a matter of regular disbursements, so please choose NXTcommunityfund or salsacz or landomata or somebody else to manage the disbursements. Repolling again and again for already authorized funds in inefficient. We can still do all that for the remaining 6 million NXT, though I think we should set aside 1 million of that to NXT servers. James |
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OK, so I am assuming that there is a significant majority in favor of funding NXT marketing for Feb from unclaimed NXT. This is about funding, not about specific marketing expenditures. If you want to feedback on specific expenditures, etc. https://bitcointalk.org/index.php?topic=412243.440 is the right thread. It is an open process, best ideas win. Marketing meritocracy. So, is anybody against funding marketing team for Feb? I will be offline as it is late. I hope not to wake up to more debate over spending 250,000 out of 10 million NXT on Feb. But if there is debate I will debate. I hope to wake up to see CfB has transferred 250K from unclaimed NXT to marketing team. Continuity in Marketing is important. Please continue funding Marketing. We are in critical time of other second gen making releases. James |
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What is your problem with our marketing effort?
James
You forgot a seconded your idea for marketing fund which was released to Salsacz....so i'm very very pro marketing if I may say so. Sorry about that. Getting tired and didn't expect a big debate on marketing funding. I am glad we come to agreement. |
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Does anybody know how to setup a testnet? How many servers, etc.
I might need to get one setup as early as end of next week.
James
obtain a list of participants, have them generate new accounts from new passphrases these particiapants will provide IP addresses of their clients that will particpate. these IP addresses will be used in wellknownpeers files set up a network of clients that are configured to use some other 2 ports other than 7874/7875 have a member on 1 client willing to send NXT from their local client on the testnet from an existing account to all other new accounts then we are basically running on an isolated fork with just limited people Thanks! There is already one testnet running, search the thread. Running another one doesn't seem to have much sense The testnet I am talking about will have libzerocoin integrated into it. Wont be compatible with existing testnet |
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@ Salscaz:
OBJECTIVE METRICS == Number of Tweets mentioning Nxt...per. day after the marketing effort. etc
you can build on this easily per. week.....per region.....very objective.
EDIT: Did the tweets spike up in southern California region after the LTB radio show? we can track this for the next episode.
radio takes at least 3 exposures to have a measurable effect Also do you care about commuters in California or crypto industry decision makers? If you feel you can do marketing so well, then please become more active in marketing thread. The issue here is to BEGIN funding marketing with unclaimed NXT. Do you think the marketing team deserves to get Feb's funding? Yes or No. If no, what is the reason? Yes they should receive Feb funding....the Miami conference results were more than enough....we need to continue the momentum. Exactly! Thank you. OK, CfB, please release 250K from unclaimed NXT for Feb marketing budget. James |
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There is the problem. In order to get metrics on radio effectiveness, we will have to spend just as much or more to measure it with scientific polling of target demographic.
not with twitter. Salsacz is already tracking online media....so I think this is a natural progression. Big spike in new accts today. Is this good enough for you? Also notice the spike at beginning of Jan, that was from marketing push around the source code release Is this good enough? What is your problem with our marketing effort? It is like people complaining about nexern's client's color scheme. Should we pull his funding because somebody doesn't like the color scheme? Or because he is a week late? Find competent people. Trust them to do a good job. Delegate. James |
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There is the problem. In order to get metrics on radio effectiveness, we will have to spend just as much or more to measure it with scientific polling of target demographic.
not with twitter. Salsacz is already tracking online media....so I think this is a natural progression. There was a guy that paid to get a bunch of tweets or something like that. What good it total number of tweets? |
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@ Salscaz:
OBJECTIVE METRICS == Number of Tweets mentioning Nxt...per. day after the marketing effort. etc
you can build on this easily per. week.....per region.....very objective.
EDIT: Did the tweets spike up in southern California region after the LTB radio show? we can track this for the next episode.
radio takes at least 3 exposures to have a measurable effect Also do you care about commuters in California or crypto industry decision makers? If you feel you can do marketing so well, then please become more active in marketing thread. The issue here is to BEGIN funding marketing with unclaimed NXT. Do you think the marketing team deserves to get Feb's funding? Yes or No. If no, what is the reason? |
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As long as we trust Salsacz to make good decisions, then it is a matter of monthly budget. This is Feb. Are we really so objectively dissatisfied with January's marketing results that you are considering to not funding Feb? Are you ignoring emunie, etherium and mastercoin? They all make releases in Feb. You suggest to stop marketing spending now???
James
' Its been less than a month....i'm not asking for any results at the moment just for Salsacz to come up with some objective metrics so the community can quickly judge and decide when future portions are to be released. EDIT: example No.1. RADIO SPOT or PRINT AD SPOT....which one had more results versus spent cost etc. OBJECTIVE METRICS == Number of Tweets mentioning Nxt...per. day after the marketing effort. etc. There is the problem. In order to get metrics on radio effectiveness, we will have to spend just as much or more to measure it with scientific polling of target demographic. I keep saying marketing takes time, you say you are not asking for any results, but you are. Do you have a problem with the quality of the marketing materials? The existing marketing bounties? The translations? I think you might be confusing marketing with advertising. Advertising is directly measurable. I am open to advertising, but last I checked the NXT community was very set against it. Advertising is directly measurable. Marketing/PR is not. To evaluate Marketing/PR you need to analyze the work product they release, eg. the content. Any problems there? you need to make sure what they are doing is reasonable. Is our marketing plan unreasonable? Please do not ask for marketing to be put under constraints that it should not be put under. |
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