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Author Topic: NXT :: descendant of Bitcoin - Updated Information  (Read 2756221 times)
ZeroTheGreat
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December 26, 2013, 08:47:22 PM
 #8841

Stop buying these coins so high.
People, buy high, sell low. No thinking required!  Grin
PLAY NOW
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bitcoinrocks
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December 26, 2013, 08:47:45 PM
 #8842

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It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

Quote
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes.

I'd also love to see this.  Can this info be extracted from the blockchain?
laowai80
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December 26, 2013, 08:47:50 PM
 #8843

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

I guess $0.10 per coin was their first sell target.
opticalcarrier
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December 26, 2013, 08:47:56 PM
 #8844


Here is the new thread: https://bitcointalk.org/index.php?topic=386304.0

I don't personally require any donations at this time. I can fund it out of my own expense and previous donations at this time.

OK you guys keep on for now as planned.  for now i wont be in on the testnet, i believe i can design a private net for us all to test on.  it will require everyone to change IPs later though.

would be a good idea for you guys to get it running now, just be ready for the storm.... give me a week or 2 and I should be able to whip something up.  Im a forums admin so i can create private groups etc for us to converse privately in.

just give me a bit of time
Come-from-Beyond
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December 26, 2013, 08:48:03 PM
 #8845

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

That's good. We can lower min fee (to 0.01 NXT) a few weeks later then.
newsilike
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December 26, 2013, 08:48:27 PM
 #8846

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.
We don't need panic machines like you around here, go to the quark guys or something.
wesleyh
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December 26, 2013, 08:49:07 PM
 #8847

Price is now below 0.0001.
laowai80
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December 26, 2013, 08:50:09 PM
 #8848

Price is now below 0.0001.

good, just another 1000% to go lower Smiley
wesleyh
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December 26, 2013, 08:50:15 PM
 #8849

It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.
We don't need panic machines like you around here, go to the quark guys or something.

I'm simply stating facts?... Anyway, what have you done for nxt?
wakasaki808
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December 26, 2013, 08:50:50 PM
 #8850

Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going Tongue

The more lower it goes, the more I am willing to buy   Tongue
ZeroTheGreat
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December 26, 2013, 08:51:27 PM
 #8851

Then I realised, that unlike BTC, major holders of NXT are not inclined to sell much.  Why?  Because the NXT they hold is their "mining/forging hardware".  They will just continue mining and selling what they mine.  Perhaps they will sell a few million or hundred thousand here and there, but they will hold onto most of it.

Call this "Xibei's Principle".

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking
b) their NXT is their "mining hardware"
Wow. U're formed some of my thoughts into conception. Exactly! That 10M, 20M... is just like ASICs. "GreenASICs"  Wink Anyway world needs crypto, NXT just superior to other options (at least, for now).
yuriygeorge
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December 26, 2013, 08:51:37 PM
 #8852

Maybe selling is going on too slow, for my taste the price is rising too fast, but that's how it goes.
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes. We need more distribution! That would help a lot, regarding the public view of NXT.

Don't worry. Soon we'll get more DDoS attacks, black PR and other similar things. Some of the major stakeholders will lose confidence and sell most of their coins.

I've been thinking about it... wondering why the major stake holders sell so slowly.

Then I realised, that unlike BTC, major holders of NXT are not inclined to sell much.  Why?  Because the NXT they hold is their "mining/forging hardware".  They will just continue mining and selling what they mine.  Perhaps they will sell a few million or hundred thousand here and there, but they will hold onto most of it.

Call this "Xibei's Principle".

So, major stake holders are not (and will not sell much) because

a) the NXT decentralised exchange is too groundbreaking
b) their NXT is their "mining hardware"

Additionally, unlike BTC, where you must keep buying more and more mining hardware to compete with increasing difficulty and other miners.  With NXT, your holding of NXT always pretty much mines you the same amount, no matter how many more people start mining.  There's no need to reinvest into more "mining hardware".  They would only sell at a very attractive price, and the price they have in mind will have the decentralised exchange in mind, probably like $10 per NXT.

Oh, and unlike BTC and other energy hungry proof-of-work systems where you mining hardware depreciates and must be replaced (as it get's older and slower and burns out), NXT's virtual "mining hardware" (aka your NXT holdings), appreciate in value.

So, that's why major stake holders don't sell fast and the market will not shake and the price will keep climbing.  They will just sell whatever they mine, a bit at a time.

NXT is genius.



+1. And the herd of sheep can't do simple math and think 10 cents is cheap, when you're talking about all 1 billion coins, and that it's at 600,000% at what was originally put in.

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bitcoinrocks
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December 26, 2013, 08:51:53 PM
 #8853

Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.
gbeirn
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December 26, 2013, 08:52:30 PM
 #8854

Quote
It's happening, some major stake holder is simply selling every coin and the price of nxt on dgex is dropping fast.

Three cheers for that major stakeholder!

Quote
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes.

I'd also love to see this.  Can this info be extracted from the blockchain?

Of course, everything is in the block chain.

NXT VPS Server Donations can be sent here: 6044921191674841550
At the end of each month I will donate some of them back to the community.
This is separate from my main wallet so you can keep track of them. I will keep them in there and only use them for hosting.
wesleyh
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December 26, 2013, 08:52:56 PM
 #8855

Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

If a major stakeholder is causing this, I think it's extremely positive.

Yes, but too much of a decrease in price will look bad in the eyes of others.
bitcoinrocks
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December 26, 2013, 08:54:00 PM
 #8856

Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

Quote
If a major stakeholder is causing this, I think it's extremely positive.

Quote
Yes, but too much of a decrease in price will look bad in the eyes of others.

I still don't see the problem.  The *only* real complaint I see about Nxt is distribution.
yuriygeorge
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December 26, 2013, 08:54:10 PM
 #8857

Don't worry the exchange has price controls where it won't allow the price to move or for legitamate buyers to put an order in for over +/-30% in each direction.

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bitcoinrocks
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December 26, 2013, 08:55:10 PM
 #8858

Quote
I'd like to see some statistics about distribution of NXT. If 90% is in the hands of the (73) first-stakeholders and only the trading of the remaining 10% is generating the price of NXT, that would be bad in my eyes.

Quote
I'd also love to see this.  Can this info be extracted from the blockchain?

Quote
Of course, everything is in the block chain.

Do the original stakeholders keep their Nxt in 73 accounts?  If so, do we know which accounts?
wakasaki808
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December 26, 2013, 08:56:19 PM
 #8859

Quote
Dropped about 2 cents in a few minutes. wow.

At least it gets the distribution going

Quote
If a major stakeholder is causing this, I think it's extremely positive.

Quote
Yes, but too much of a decrease in price will look bad in the eyes of others.

I still don't see the problem.  The *only* real complaint I see about Nxt is distribution.

I don't see a problem either. The price will meet the equilibrium if it goes lower than the the market demand for it. The selloff just means more people can invest in Nxt.
ZeroTheGreat
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December 26, 2013, 08:56:31 PM
 #8860

Can this info be extracted from the blockchain?
Yep. Transparency. All txs are there, all balances can be calculated.
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