NXT :: descendant of Bitcoin - Updated Information

[TwinWinNerD]

Well basically:

Look at the crypto world like a big investment world. Because all those coins are very much linked to each other (mainly because most coins are traded Crypto/Crypto) they will swing in a similar matter. So basically if most of the coins decrease in price, than the other coins will most likely follow. I am not only talking about the absolute fiat value but also BTC exchange rate.

This risk is called systematic / systemic risk and it is NOT possible to diversify against that risk. It is just there, nothing you can do about it!

To calculate this risk, you have to look at an index. The index in the crypto world is a portfolio where each coin has a stake depending on its market capitalization. And because BTC has over 90% (roundbout that) of all the market capitalization, you can savely take BTC as the INDEX.

Now the index has per definition a Beta value of 1, meaning that each other coin that has also a beta of 1 will swing very similar to this index  (BTC). The thing with smaller coins is: they don't have a beta of 1, they are more risky. Higher volatility, but also higher "expected" value.

Let's say a coin like litecoin is a tad swingier than BTC and has a beta of 2. This means that if the market moves down (BTC) the litecoin price will drop EVEN MORE! But on the otherhand , if BTC (index) moves up, Litecoin will rise even more . This is all on average, just because it is expected each time, doesn't mean it happens at each swing.

Litecoin with a Beta of 2 is a comparatively solid coin (taking about price swings) , other coins will have an even higher Beta and higher volatility.

In conclusion, just because NXT drops significantly in value, doens't mean NXT or the marketing failed, it is just expected and predicted.

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[joefox]

Well since their tasks are limited to fund management, I think we need another hand or group who will take suggestions or come up with long term targeted strategies for marketing and then execute..

I agree.  What role can you play in this initiative?

I am suggesting this from an experience perspective and what is likely to work, case in point Mastercoin: they barely had a functioning prototype, but they were able to come up with a marketing strategy, hire professional marketing agency to get through to the right channels... I would say their campaigns has been widely successful even though 8 months later they are yet to have complete dec exchange

Mastercoin's "marketing" writes cheques for Mastercoin that Mastercoin could not (and still can not) cash, and now Mastercoin is paying a price (in loss of interest, missed expectations, etc.).  I don't think Nxt needs to go down that route.  We already are, anyway, by promoting many features that are not yet finished, or even fully designed.

Any marketing plan that may be developed for Nxt MUST depend on plans that are already in place for technical development.  We will succeed by marketing what exists; not that which cannot accountably be delivered.

The other "scapegoat issue" here is that Nxt is riding on Bitcoin's coattails, and Bitcoin is riding on a very limited level of awareness in the global community.  Take 7billion people in the world, and then assume (under the best possible circumstances) that a few hundred thousand people actually understand and use Bitcoin (there are millions of addresses in use, but it's impossible to calculate a number of users from that figure.  Anecdotally: I work in a dedicated high-tech IT environment, and almost NOBODY knows anything beyond "Bitcoin is some kind of internet money, right?").  Any digital currency aside from Bitcoin has its "audience pool" limited to people who already understand and appreciate the principles of cryptocurrency.  

Right off the bat, the "reach" of Nxt is VERY small.  In order to increase it, we have to join the fight that Bitcoin is waging, which is educating the general public on  the principles and benefits of cryptocurrencies and cryptoplatforms.

So what does that leave?  IMHO:
- communicating Nxt's features to the existing crypto community for the purpose of:
     - attracting developers and testers to assist with existing activity
     - increasing adoption of existing (live, not testnet) features
     - providing alternative platforms for "Bitcoin 2.0" development

We can't promote a new client until we have a new client.  Offspring is the only one I would be proud to promote right now as a "ready to go" client.  I would also proudly promote wesley's client WITH the caveat that it's still in development AND operating on a testnet -- but that fact alone is enough to make people want to wait.  The only thing worse than a lack of "call to action" is a call to action that does not deliver ("come and try this new feature! .... but download this first... and then log into a test network.. and then register on this forum and ask for test coins.... and then don't be surprised when the testnet is reset and your coins disappear... and also watch out for bugs..." etc.)

Maybe someone with the free time, experience and drive can at least do something.

Find that someone, and we can begin.  Otherwise it's just an endless game of blame and scapegoating.

The PROBLEM is lack of dedicated resources.

[Daedelus]

Well basically:

Look at the crypto world like a big investment world. Because all those coins are very much linked to each other (mainly because most coins are traded Crypto/Crypto) they will swing in a similar matter. So basically if most of the coins decrease in price, than the other coins will most likely follow. I am not only talking about the absolute fiat value but also BTC exchange rate.

This risk is called systematic / systemic risk and it is NOT possible to diversify against that risk. It is just there, nothing you can do about it!

To calculate this risk, you have to look at an index. The index in the crypto world is a portfolio where each coin has a stake depending on its market capitalization. And because BTC has over 90% (roundbout that) of all the market capitalization, you can savely take BTC as the INDEX.

Now the index has per definition a Beta value of 1, meaning that each other coin that has also a beta of 1 will swing very similar to this index  (BTC). The thing with smaller coins is: they don't have a beta of 1, they are more risky. Higher volatility, but also higher "expected" value.

Let's say a coin like litecoin is a tad swingier than BTC and has a beta of 2. This means that if the market moves down (BTC) the litecoin price will drop EVEN MORE! But on the otherhand , if BTC (index) moves up, Litecoin will rise even more . This is all on average, just because it is expected each time, doesn't mean it happens at each swing.

Litecoin with a Beta of 2 is a comparatively solid coin (taking about price swings) , other coins will have an even higher Beta and higher volatility.

In conclusion, just because NXT drops significantly in value, doens't mean NXT or the marketing failed, it is just expected and predicted.

Do you think we get punished on coinmarketcap too as the opening page reports in dollars and that is what people see?

Bter says we have lost 10% in the last 24hours (Nxt/BTC). coinmarketcap says 17%. Are we taking a hit from two exchange rate pairs going from Nxt > BTC > USD, both of which have done badly today? Or has Nxt lost 17% on an exchange somewhere and that is what is being reported.

[okaynow]

Coinmarketcap uses more than one source to calculate medium price, and one would also have to take into account the price refresh rate.
Right now, Bter NXT/BTC is holding just a bit less than half the vol, with DGEX coming second with one third of vol.

10. Nxt (0.15 %)
Source   Pair         Volume (24h)         Price         Volume (%)
BTER           NXT/BTC    $ 40,610   $ 0.020662      43.41 %
DGEX           NXT/BTC    $ 28,570   $ 0.020492            30.54 %
BTER           NXT/CNY    $ 13,893   $ 0.022086            14.85 %
Cryptsy   NXT/BTC    $ 10,175   $ 0.020666            10.88 %
Poloniex   NXT/BTC    $ 123           $ 0.021246      0.13 %
Vircurex   NXT/BTC    $ 121           $ 0.024285             0.13 %
NXT-E   NXT/BTC    $ 60           $ 0.019697              0.06 %

Total/Avg   $ 93,553   $ 0.020827   

  it's not coinmarketcap punishing us, its the markets

[EvilDave]

Been workng IRL for a few days, so not much crypto time. Not that I missed much.....
Best summary of our current situation I've read in a while:

I take the IRS's decision that Bitcoin is a commodity as a really bullish sign for NXT.  NXT's decentralised asset exchange has astronomical potential as a valuable platform for businesses.  If Bitcoin finds difficulty as currency, then investors will be looking for technologies that can offer something more in line with the IRS's decision.  NXT's decentralised asset exchange is very much aligned with the IRS's decision because it allows businesses to perform IPOs, issue stock and automatically pay dividends, all of which are not currency-related tasks.  NXT is the next big thing on the horizon.

Sure Bitcoin makes a great commodity like gold, but NXT also offers 1 minute block times, energy efficiency and decentralised asset exchange.  The NXT developers just need to make it easier to install and setup with a single installer.

+ much

[salsacz]

hey Dave, how is our speaker slot going? 

[EvilDave]

Lots of people bitching about marketing, but few actually stepping up and helping out. If u have an idea to get NXT some love and attention , propose it to the community, see what happens. If you get support, roll with it, and carry out your plan.

The committee (s) are not here to hold your hands and tell u what to do.....they are simply a financing option if you have a plan and need some help to carry it out.  

I suggested a plan of action a while back, I guess non of the marketing committee members thought it was a valid solution. Theres is a clear difference between strategy and tact

There's also a clear difference between what everyone thinks the marketing committee should be doing, and what it's actually tasked with doing.  

The committees (all three of them) were elected to manage funds.  That's it.  Collective memory is fuzzy in this regard, which is unfortunate.

All of the committees, in their own way, are moving past their mandate, under their own initiatives, to architect bounties and other means of spurring development in many areas related to Nxt.  The committees are NOT – contrary to many views – tasked with doing the work.

The Marketing Committee exists to help YOU create marketing. Here is our voting procedure, and here is where you can submit your proposal for funding.  I wholeheartedly encourage you to apply, since we have a bunch of Nxt to give away and not many people asking for it.

+10 to JF, and I've got an idiot marketing idea I'm gonna float on the other forum......

Talking of which:


Moved all serious discussion of NXT to:
https://nxtforum.org/index.php

DO NOT FEED THE TROLL!

[EvilDave]

hey Dave, how is our speaker slot going?  

Speaker slot/ Bitcoin team make Dave angry....they promised me everything by the end of this week, just like the last 2 weeks....going to be working on conference tomorrow AM.
So, I'll go nuclear on them round about 12.00 if nothing has happened.

[rriky92]

i won't be available for some week so i made my iNxt app's repository public, if you want you can make change and i can send this change to Apple but i can't code right now...


Here is the link:

https://bitbucket.org/rriky92/inxt

[Ebrelus]

After four major rate crushes i can say i learnt something. Last time NXT was lucky to get deep crush before start of bitcoin major rate crush. This made NXT relatively undervaluated and made its rate go up just when bitcoin was drowning and this becuase NXT was exceptional in it became temporaly crypto safe heaven what moved rate much higher than it could be expected. Now we have double crush but luckly from not high level so i wouldn't panic. It will be major loss, maybe we won't reach 0.000075 again but big fast fall makes good base for as fast recovery boosted by bitcoin recovery maybe too. Now more important is not relative marketcap value but relative place in cryptotop and strenght of competitors. Still buying at rate 0.00005 was great bussiness for many. Next crush of NXTwas inevitable since daily trade volume  went few times lowwer the same as before last major crush. I ended rebuying at 0.000052, respect to anybody who had better nose buying lowwer Good luck and remember that panic sellers are a tools in the invisible hand of free market which just right now is fixing NXT rate into more accurate market value rate. o7

[EvilDave]

My secret promo project, that isn't working out:

https://nxtforum.org/nxt-promotion/nxt-promotional-vehicle-concept/new/#new

[crypto_ripper]

I thought this looked very promising, but it doesn't seem to have done well. I feel everyone is jumping on other shitcoins hoping for a pump and dump

[Blocktree]

SPECIAL NICE OFFER FROM LOPHIE!!!

1'550'000.00NXT AVAILABLE FOR SALE AT 0.00005BTC EACH

10 BTC MINIMUM Buy

PM ME NOW

NXT is being dump,being dead

NXT must be soooo dead. Since 2013 because Lophie is dumping since then!

not just Lophie, NXT is being dump from all bigstakers.

Do you honestly WANT them to hold, so that the distribution NEVER improves?

so,this will explain why NXT is being dead,boc of the shit unfair distribution .

What are you, 12?

You had exactly the same opportunity to be one of the 73 as everyone else. That's fair by definition. Either you knew about it and chose to pass on the IPO, or you didn't know about it so you couldn't partake. Either way, the blame falls on you.......

All through life you will succeed and fail based upon your own decisions, simply because life isn't fair. Some people do something about it, other people hold out their hand and bitch until someone finally pays them to shut the fuck up.

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

[pandaisftw]

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

Hm, where were you when price was going up?

Oh that's right, you and elmo only come out when price goes down (btw, have you looked the coinmarketcap? All coins are going down).

Still, I find it funny that you try so hard, you must be paid to do this, right?

[TwinWinNerD]

All coins died today, apparently. Should we panic?

[L5Society]

My secret promo project, that isn't working out:

https://nxtforum.org/nxt-promotion/nxt-promotional-vehicle-concept/new/#new

Bummer. Tesla would be a great marketing partner. They won't give you a Model S instead?

[Blocktree]

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

Hm, where were you when price was going up?

Oh that's right, you and elmo only come out when price goes down (btw, have you looked the coinmarketcap? All coins are going down).

Still, I find it funny that you try so hard, you must be paid to do this, right?

of cos i got paid 40K/mon like marketing members.  

[TwinWinNerD]

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

Hm, where were you when price was going up?

Oh that's right, you and elmo only come out when price goes down (btw, have you looked the coinmarketcap? All coins are going down).

Still, I find it funny that you try so hard, you must be paid to do this, right?

of cos i got paid 40K/mon like marketing members.  

It is a private donation you fudster

[Blocktree]

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

Hm, where were you when price was going up?

Oh that's right, you and elmo only come out when price goes down (btw, have you looked the coinmarketcap? All coins are going down).

Still, I find it funny that you try so hard, you must be paid to do this, right?

of cos i got paid 40K/mon like marketing members.  

It is a private donation you fudster

yes,me too.

[TwinWinNerD]

why not you think my statement is fact ?
i just to tell the reason and result.
NXT is being dead ,boc of failure distribution,failure marketing,bumptious, talking balabala without result.

Hm, where were you when price was going up?

Oh that's right, you and elmo only come out when price goes down (btw, have you looked the coinmarketcap? All coins are going down).

Still, I find it funny that you try so hard, you must be paid to do this, right?

of cos i got paid 40K/mon like marketing members.  

It is a private donation you fudster

yes,me too.

to earn a donation you need to have a positive IQ.

Sorry man! You must be "THIS" tall , to think.