Why is NVC so high?

[cebb]

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)?

[digitalindustry]

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..........

[AzureEngineer]

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.

[SylTi]

It's also trading on air :

Buy orders
Total BTC: 267.65916849

Even FTC as way more :

Buy orders
Total BTC: 2141.01248486

[jasonslow]

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

[digitalindustry]

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

[digitalindustry]

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 !

[bitdwarf]

It's also trading on air :

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.

[Mahn]

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]

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 !

[d5000]

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.