XDQ already got pumped and dumped from 7 NAUT to 40 and down to 20 NAUT
I fail to see how currency pairings is supposed to help NAUT
-people can just mine XDQ and trade if for NAUT
-The only real value of XDQ is that people will sell it for NAUT;
why would anyone buy a coin that can't even by traded for BTC or LTC?
-XDQ flaws become NAUT's problems
Yes, so unless something happens, miners will just continue to:
Mine XDQ > Dump NAUT > Get BTC
"Because Dirac is NAUT based and merge mined with five other coins, it should be the most profitable coin to mine, ever."
There is a maximum of 16,180,000 NAUT to be minted..
With 1% premined and less than 2,400,000 NAUT currently out
We can assume
161,800 coins are from the premine
2,000,0000+ coin have been mined since the last two weeks
From this we can see Nautilus is going through the "early miner dump" phase
And if people continue to keep buying XDQ with NAUT for whatever reason, we can expect a lot more dumping
tl;dr XDQ was basically created as a second chance for early miners to dump Nautilus, AGAIN
XDQ on its own has zero worth and is only feeding off NAUT's value
The idea of using cryptocurrency as a substitute for fiat, is a proven market.
Trading a coin with value for another coin with value (BTC/LTC), yeah that makes sense too.
But Trading a coin with value for one with ZERO value? (NAUT/XDQ),
just...why?
Problems for Nautilus:
-Inflation from early mining
-Inflation from XDQ
-No Fiat trade pairs
-Only on one good exchange, MintPal (Cryptsy would help a lot)
Assuming BK and the "NSF" do nothing about these problems
The price of Nautilus won't go up for a loooong time until Nautilus AND Dirac to become less profitable from mining.
I doubt many people will want to buy or pump a coin that they will just get dumped on.
Also how is a current market cap of less than $500,000 with no fiat trade pairs supposed to be a "deep liquid market"?
+1
I knew this was bad news the moment I saw it yesterday - Naut was having a nice slow rise and this put the brakes on it...
you're right - Naut will become and has become the dumping ground where the inbasil has rewarded all his early miners with the opportunity to make a killing at our expense...
if he were in the room right now I'd punch him in the mouth and for BK to says "that's great" like he did yesterday without really examining the structural defects of this coupling makes me question his real investment wisdom. He should stick to Hedge Funds because he's used to dealing with business men, not serial rapists.
like I said earlier - Naut is getting raped and so are the people who invested in it.
I happen to work with a guy who also runs a hedge fund and has a best selling book on investing on Amazon and the moment I explained to him the coupling he said "sell" - I should have. He said if you believe the other coin to have less value than your coin - no good will come of this to you.