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Author Topic: Why is NVC so high?  (Read 941 times)
cebb
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May 10, 2013, 03:39:52 AM
 #1

Could anyone please care to explain why novacoin, a relatively new currency, is priced higher than say LTC. I have heard not so good rumors about NVC (premined and BTC-e 100K bribe etc). Shouldn't the prices then be lower similar to MNC (known to majority of public that it is pre-mined)?

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digitalindustry
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May 10, 2013, 03:55:11 AM
 #2

Could anyone please care to explain why novacoin, a relatively new currency, is priced are higher than say LTC. I have heard not so good rumors about NVC (premined and BTC-e 100K bribe etc). Shouldn't the prices then be lower similar to MNC (known to majority of public that it is pre-mined)?



"Why is NVC so high?"

one word. Crack.

and its becoming a REAL big problem .

you start with just a tiny bit..........

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
AzureEngineer
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May 10, 2013, 03:57:19 AM
 #3

Could anyone please care to explain why novacoin, a relatively new currency, is priced are higher than say LTC. I have heard not so good rumors about NVC (premined and BTC-e 100K bribe etc). Shouldn't the prices then be lower similar to MNC (known to majority of public that it is pre-mined)?

NVC, while having a rather suspicious start, actually has a somewhat innovative technical design. MNC was nothing but a clone.

My name was simply a play on "Blue Engineer" from Team Fortress. I am not affiliated with Microsoft or the Azure project.
SylTi
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June 11, 2013, 10:05:20 AM
 #4

It's also trading on air :

Quote
Buy orders
Total BTC: 267.65916849

Even FTC as way more :
Quote
Buy orders
Total BTC: 2141.01248486

jasonslow
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June 11, 2013, 10:05:25 AM
 #5

If you can control the supply and demand you can control the price.
digitalindustry
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June 11, 2013, 10:06:13 AM
 #6

wow,  looking back at that topic,  i feel like i really added useful information.....{and also continue to strive to do so}

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
digitalindustry
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June 11, 2013, 10:10:15 AM
 #7

If you can control the supply and demand you can control the price.

wow Mr conspiracy , so are you suggesting that:

1. You can not mine NVC ?

or

2. You can't buy NVC ?

or

3. You can't Sell NVC ?

i need you to explain just exactly how this is controlled ?

because I’ve done the impossible in that case......

call me Super Crypto Man !

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
bitdwarf
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June 11, 2013, 10:48:11 AM
 #8

It's also trading on air :

Quote
Buy orders
Total BTC: 267.65916849

That's a spike, I've seen sub 10 BTC volume on BTC-e usually.

I've started to think that people just won't trade advanced coins.

If it's advanced (in a good way), clever people that understand the coin hold it and don't sell, and dumb people that don't understand it don't buy -> low volume.

If it's a simple copycoin, clever people pump and dump, dumb people keep buying and placing sell orders to try to get their money back -> high volume.

𝖄𝖆𝖈: YF3feU4PNLHrjwa1zV63BcCdWVk5z6DAh5 · 𝕭𝖙𝖈: 12F78M4oaNmyGE5C25ZixarG2Nk6UBEqme
Ɏ: "the altcoin for the everyman, where the sweat on one's brow can be used to cool one's overheating CPU" -- theprofileth
Mahn
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June 11, 2013, 11:05:15 AM
 #9

It has no volume. If people don't buy and don't sell, the price can't possibly go anywhere. That doesn't mean it is valuable, just that is experiencing a different kind of a death.

digitalindustry
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June 11, 2013, 11:15:16 AM
 #10

It has no volume. If people don't buy and don't sell, the price can't possibly go anywhere. That doesn't mean it is valuable, just that is experiencing a different kind of a death.

hope in one hand ........

you know the rest !

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
d5000
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June 11, 2013, 12:04:31 PM
 #11

Novacoin is relatively scarce (=there are few coins), and there was low inflation until May, as you can see in my thread about Altcoin coin supply growth/inflation. This is the main reason for the high price for one unit.

The market cap (=value of all Novacoins out there), which is independent from "scarcity" of the coins, is far lower than Litecoin's, but relatively high (see http://coinmarketcap.com/) and nearly half of it's predecessor PPC. For me, that is the surprising part of the story.

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