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Keep in mind, the speculators are buying the rumour and will be selling on the news. I think the rumor is that the new client and asset exchange are coming out soon. Fast money comes in before the actual release and when it does, fast money sells. They are in it just for a week or so, do not be surprised if the price goes down after the release of new client.
This is normal. Strange, but normal. As NXT devs get more and more credibility, there is less and less risk in putting money in based on release schedule. The fast money does not want to be in for the long haul, if you are, you can just ignore the price roller coaster. losing 40% to 60% from alltime high is also normal. last cycle we lost more than that due to special circumstances, plus until bter we didn't really have a true market price.
Remember, when NXT achieves the same market acceptance as BTC, the value would be close to the ratio of BTC vs NXT, or .012 BTC for each NXT. Since NXT will have a lot more benefits than BTC, it will achieve market acceptance parity a lot sooner. It will be a lot easier for NXT to gain tenfold from here than for BTC to gain tenfold.
Even after that tenfold gain, we still have another tenfold gain to go.
To all that complained about NXT distribution, the time for complaining is over. You can keep complaining, or you can join us. You've watched and seen what the NXT community is doing. We will figure out what needs to get done to achieve .012 BTC and then we will get it done. Continuous improvement in all areas, even marketing!
James
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DOGE blasted past its alltime high of .0000015 and is now .0000021
Usually whenever something goes above its alltime high, it is clear sailing for a while. Not timewise, but pricewise. This is because nobody is left who is holding at a loss. Nobody left who is eager to sell soon as they get back to breakeven after holding a loss for two weeks.
.000125 at bter! Getting within striking distance of alltime high for NXT. If we go above alltime high (what is it anyway?) then 50% above that is a distinct possibility within a day or two.
James
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Does anyone else love the fact that Doge is trading $14mil a day? At least it shows the crypto community has a sense of humor. That is going be one massive crash and burn.
I don't think we can underestimate the permanence of DOGE. It traded over half as much as BTC today, 8 times NXT's healthy volume. This is not a joke anymore. It should get the lions share of the speculative frenzy money and hopefully reduce NXT volatility, but ever heard of the "network effect"? Basically, once something becomes popular, it reinforces itself and becomes more popular because it is popular. It has already surpassed LTC and since it is technically essentially LTC, it could just take its place. Since it costs so little, people spend it a lot more freely and the Jamaican bobsled team is going to the olympics due to DOGE. Pure marketing with essentially no tech can be quite successful. The fact that DOGE traded 30%+ of its entire marketcap in one day means something, I'm just not sure what it means... Clearly there is a lot of new money flowing into NXT and DOGE and it is coming from the other coins. Now we just need to followthrough with all the tech NXT promises and as DOGE goes toward LTC marketcap, NXT will go toward BTC marketcap. James |
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bter current withdrawal limit is 200000 NXT per day
There is a pretty steady 5% to 10% premium on bter vs dgex, currently .000113 vs .0001, people clearly don't like withdrawal fees.
bter volume (NXT/BTC + NXT/CNY) is bigger than all other exchanges combined
Any sane exchange would add NXT as soon as possible to get a piece of this trading volume. NXT is #4 by 24 hr trading volume:
BTC: $21 million
DOGE: $14 million
LTC: $5.6 million
NXT: $2.4 million (bter CNY+BTC and dgex)
peercoin and namecoin <$ 1 million
It is possible peercoin or namecoin might total more from all the different exchanges they are on. No sure how coinmarketcap.com adds up total volume. Still $2.4 million per day is a good amount of distribution. Most of the sales seem to be in <10,000 NXT lots so this means a lot of new NXT'ers were created today. Most probably don't even have a client running yet.
Very big developments. Of the top 10 market cap coins, only NXT and DOGE were gainers today and both by very big amounts. The two weeks after source release might have been the last chance to get NXT at super low prices.
James
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Bter owns only 11 mega NXT now. Dgex owns 63 mega. Now do your maths  Bter got 4 million NXT deposited first day, 7 million second day. At this rate within a week bter will have the most NXT deposits buying panic starting in China for NXT and DOGE, both following similar price pattern today James |
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We have not even agreed upon the one human == one vote concept.
In theory that sounds wonderful, but in reality that means that frictionlesscoin would have as much weight as klee or CfB.
At the risk of sounding like an extremist, I want to have people like klee and CfB to have a LOT more weight than frictionlesscoin. does anybody disagree with this?
We need to agree on a basic framework before we have any chance of actually defining a one size fits all voting system.
If you also feel that some people should be more equal than others, that means that we need some sort of weighted voting system. Maybe we need to first vote on how much weight each person has? The votes for this could be weighed by how much NXT a person has. Since nobody has enough NXT to skew the results too much, as long as the max weight possible is a decent multiple of an unknown acct, we won't have to worry about sock puppets.
We can set the weight of an unknown acct to be 1. So, if this is the direction we want to go, then the first question is what is the max weight a single account will have? 1, 10, 100, 1000, 10000, one million?
If we can agree on a max weight, then we can have a chance at figuring out what weight each person has. I think it should be a publicly visible vote by handle.
James
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I predict that we will not be able to reach a consensus on how to reach consensus.
James
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Hey, that's looking good! -- Can we read somewhere about this built-in voting system? If it's good then there is indeed no point in building a site. My guess is that we could combine a site like wesleyh's on top of the built in API for voting. doesn't that make the most sense? I don't want to slow down client development with adding VS until after initial release. No sense in reinventing the wheel, so a website front end to VS API is what I recommend James |
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i strongly support this. best idea yet.
I support it also although I actually would like to see people have to *pay* to vote (as I don't this has really been tried before and could be an interesting experiment). Think about it - you can "rig" an outcome by burning up your NXT but how many times can you afford to do that? Perhaps also rather than just having the NXT being used for such a poll being fed back as fees (which an AM approach would do) why not have the accounts be used for something (but not for what they represent so they can't send themselves money to use). America has perfected the pay per vote system |
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All of the big NXT holders are monitoring this thread. unclaimed coins are allocated based on NXT community, which is here. it is what it is.
There is now marketing budget. As long as each month there are nice successes, next month is funded. NXT community is smart. It won't expect that 100% of expenditures will lead to success. Just make sure each month there is enough good stuff so that NXT community says, hey cool, keep doing it for another month.
longest journey starts with first month
James
Well I personally don't give a single fuck about 99% of the big hoarders, they have not contributed one bit, their influence should be zero, zip nada, fuck nothing at all. Why the hell would we want to let those with the most NXT decide? That's centralization. They don't contribute in anyway to the community. There is a handful of people who do, the rest are just jacking off to the price increase. And now 250K was sent to salsacz... ok now what? How are we supposed to decide further how to spend those 250K? And how much do we pay ourselves for our own work? NOw who decides that? It's 100% centralized. Don't get me wrong, I love salsacz's work and have close contact with him for several weeks now, but now there is no group decisions anymore and no NXT to all the rest of us. THese things should've been decided and I am downright shocked by CfB's actions after having talked with him on skype just yesterday aobut this. salacz will distribute to various marketing projects. Still decentralized, but someone has to deal with all the marketing projects and CfB decided to delegate. I am sorry I didn't realize you were so independent from salacz, I had thought you were all working together James |
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Part of the 10M should definitely go for user experience and marketing. To spend NXT marketing without a easy-as-apple interface is a waste and might hurt us permanently. We need to have a client that is as simple as online banking. Our client has to be simpler than bitcoin. Bitcoin's client shouldn't even be a reference. Bank of America's interface should be a guide as far as look and feel goes.
Long and boring instruction videos or manuals cannot overcome a weird hard to use interface.
WE MUST HAVE THE CLIENT BEFORE THE MARKETING.
We need a client now and marketing right after but please do not pull the trigger on marketing before having a client that doesn't reek of crypto currency.
I hear or read something about NXT, a link gets me to the client. that is where its end for me, never to come back again. Joe average wont bother without an effecient self installer client. Pin are you saying nexern's client is an inefficient manual install client that is hard to use? I am confused. How long does it take to write software? debug it, get it tested, etc. One day, one week, one month? All depends. How long does it take to get actual marketing results? One hour? One day? one week? one month? Software development takes time. Marketing also takes time. With client one week away, we had to start marketing push now. James Think you misunderstood, James. As of now, today. so please let that campaign start after we have a client. Of course you can start with the preparations and determine the angle of attack Until funding, it was not possible to do much. Hard to prepare without knowing budget. Don't forget content creations. Anyway, I think this issue is settled. Marketing group that brought is bter is now funded and as long as each month has decent results, funding continues for 2014 For people that want funding for more tech, etc.there are still 7 million NXT unclaimed James |
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Please calm. 250K sent already. 3 million marketing plan has been tentatively approved. As long as results come in, regular 250K payments will be sent. Marketing is simply a cost that needs to be spent. 250K per month is 3 million NXT per year. that seems enough to get a lot more marketing done than before.
All the sausage making can be done at nxtcrypto now. There is funding. This thread will just be there for the progress announcements.
The point is: we want something official. As the price grows, suddenly people become more and more reluctant to spend on the work we do. I got thanked by BTer for suggesting them to add NXT, they did, price grew 100%, did I get anything in return? NO. People wanted to reward BTER instead This community is so ungrateful and selfish that it's painful. We are sending people to the official bitcoin conferences from our own fucking wallets. Why aren't the NXT fund being spent on this? Of course I am pissed, I have witnessed this selfish ungratefulness for over a month now and for some fuckedup reason this thread is still seen as the "official" place where these decisions is made, eventhough ALL the PR work are being done by us on the nxt forum. MAKES NO FUCKING SENSE and I am fuckng tired of it Sorry about that, but NXT decision makers are here. Now we have a de facto marketing budget for 2014. Payable monthly, based on making good results each month. you won't have to deal with the funding issues anymore, salacz is de facto in charge of marketing budget, so just need to work with salacz. Now marketing group has community backing. it is based on performance, but that is only fair. No need to waste energy on what happened in the past. This is a great day for NXT. Marketing budget initial funding happened. James The deciders? who? When did NXT become centralized? CfB has been hanging out over at the NXT forum all the time, yet he turns to this thread to get the official decisions from people who are invested in 100 other coins too? Makes zero sense. Where was the logo decision held? nextcoin forum. Where was the marketing plans hatched? nextcoin forum Where was the infographics, the videos, the business cards, the conferences, the brochures, the first casinos etc. organized and made? nextcoin forum. This thread should be nothing but a historical piece to look back on. Over at the nextcoin forum we got sections, it's actually possible to organize things unlike in this thread. And it's based on results? Ok by that logic I was thanked by bter to get them to add NXT, so I am patiently waiting for my reward.... Jesus, you can't pay based on results post-event. If you ask a guy to make a NXT video that cost like 50K NXT and it turns out it didn't get the views we wanted you can't just say "oh no sorry, yo uwont be getting your NXT for the work after all" THe unprofessionalism is staggering All of the big NXT holders are monitoring this thread. unclaimed coins are allocated based on NXT community, which is here. it is what it is. There is now marketing budget. As long as each month there are nice successes, next month is funded. NXT community is smart. It won't expect that 100% of expenditures will lead to success. Just make sure each month there is enough good stuff so that NXT community says, hey cool, keep doing it for another month. longest journey starts with first month James |
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Is there a poll needed or can Cfb send it right away?
Pin
Let's send 250K and watch the result. - How will we evaluate the results? By what criteria? Give NXT marketing team one month. During that time they will announce results. We will watch results. As long as it is not horribly disappointing, we do it for another month. Performance based marketing. Performance judged by results. Marketing team got us listed on bter. NXT price doubles overnight. Let's give marketing a chance to show us what they can do. It is a small price to pay. We are talking 30% of unclaimed coins. Still have 7 million for all the other stuff. James |
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Can we at least wait until we have a completed White Paper and Open Source Client. I feel like I'm taking crazy pills here! I would like to have a nice brief article explaining Nxt, Features, POS, and then at the bottom, a download link for one of the Open Source Clients. You can't throw arbitrary marketing ideas around and expect funding, be more specific. We need to wait until we have a one click client, or we will lose people forever.
+1 please help with white paper. We need people intimately familiar with source code to make it more accurate and mathematical. nexern client coming soon |
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Part of the 10M should definitely go for user experience and marketing. To spend NXT marketing without a easy-as-apple interface is a waste and might hurt us permanently. We need to have a client that is as simple as online banking. Our client has to be simpler than bitcoin. Bitcoin's client shouldn't even be a reference. Bank of America's interface should be a guide as far as look and feel goes.
Long and boring instruction videos or manuals cannot overcome a weird hard to use interface.
WE MUST HAVE THE CLIENT BEFORE THE MARKETING.
We need a client now and marketing right after but please do not pull the trigger on marketing before having a client that doesn't reek of crypto currency.
I hear or read something about NXT, a link gets me to the client. that is where its end for me, never to come back again. Joe average wont bother without an effecient self installer client. Pin are you saying nexern's client is an inefficient manual install client that is hard to use? I am confused. How long does it take to write software? debug it, get it tested, etc. One day, one week, one month? All depends. How long does it take to get actual marketing results? One hour? One day? one week? one month? Software development takes time. Marketing also takes time. With client one week away, we had to start marketing push now. James |
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Please calm. 250K sent already. 3 million marketing plan has been tentatively approved. As long as results come in, regular 250K payments will be sent. Marketing is simply a cost that needs to be spent. 250K per month is 3 million NXT per year. that seems enough to get a lot more marketing done than before.
All the sausage making can be done at nxtcrypto now. There is funding. This thread will just be there for the progress announcements.
The point is: we want something official. As the price grows, suddenly people become more and more reluctant to spend on the work we do. I got thanked by BTer for suggesting them to add NXT, they did, price grew 100%, did I get anything in return? NO. People wanted to reward BTER instead This community is so ungrateful and selfish that it's painful. We are sending people to the official bitcoin conferences from our own fucking wallets. Why aren't the NXT fund being spent on this? Of course I am pissed, I have witnessed this selfish ungratefulness for over a month now and for some fuckedup reason this thread is still seen as the "official" place where these decisions is made, eventhough ALL the PR work are being done by us on the nxt forum. MAKES NO FUCKING SENSE and I am fuckng tired of it Sorry about that, but NXT decision makers are here. Now we have a de facto marketing budget for 2014. Payable monthly, based on making good results each month. you won't have to deal with the funding issues anymore, salacz is de facto in charge of marketing budget, so just need to work with salacz. Now marketing group has community backing. it is based on performance, but that is only fair. No need to waste energy on what happened in the past. This is a great day for NXT. Marketing budget initial funding happened. James |
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Part of the 10M should definitely go for user experience and marketing. To spend NXT marketing without a easy-as-apple interface is a waste and might hurt us permanently. We need to have a client that is as simple as online banking. Our client has to be simpler than bitcoin. Bitcoin's client shouldn't even be a reference. Bank of America's interface should be a guide as far as look and feel goes.
Long and boring instruction videos or manuals cannot overcome a weird hard to use interface.
WE MUST HAVE THE CLIENT BEFORE THE MARKETING.
We need a client now and marketing right after but please do not pull the trigger on marketing before having a client that doesn't reek of crypto currency.
client in a week, marketing needs to start now to be ready in time |
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WHAT ABOUT THE WHITEPAPER?
We need some super techie to polish the technical details. Sometimes marketing is purely technical |
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Are we talking about spending part of the unclaimed 9million on this? or just some persons private stash?
from unclaimed funds. CfB made executive decision, sent 250K to start. As long as salascz delivers, more payments to fund rest of plan. I think 3 million NXT for 2014 marketing is good. James |
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There is a reason why NXT is called a scam coin and still does, because we lack marketing. We are already a bit late to work on marketing.
I am happy you made a real quick decision CFB. I hope salzac impress everyone with his work.
If you need any help, just let us know salzac!
Haha and whose fault is that? We have been asking for contributions for over a month and got zero. Why the fuck are we even asking these questions here and not over at nextcoin.org where the people who genuinely care about NXT spend their time? i have been talking about promotion as the single most important thing since the beginning of December and all the time people just whine "nono, aslong as the tech is good enough we don't need promotion". CfB: stop asking BTTers what to do with the left over NXT, ask on nextcoin where thousands of NXTers who mainly care about NXT hangout. Please calm. 250K sent already. 3 million marketing plan has been tentatively approved. As long as results come in, regular 250K payments will be sent. Marketing is simply a cost that needs to be spent. 250K per month is 3 million NXT per year. that seems enough to get a lot more marketing done than before. All the sausage making can be done at nxtcrypto now. There is funding. This thread will just be there for the progress announcements. James |
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