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Author Topic: I'm dumping Nxt and here's why you should too  (Read 21062 times)
NWO
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January 06, 2014, 09:04:25 AM
Last edit: February 17, 2015, 02:53:58 AM by NWO
 #1

Once it hits 0.00008+, I'm out. Forever. Here's why:

There are around 70 odd 'donors/ founders/ whatever you call them who hold 4,000,000 Nxt each (probably more). That only equals 280,000,000 Nxt, where is the rest?Huh Good question.

Even with just these 70 individuals (excluding the 3/4 of Nxt which is probably in the hands of a smaller group of anonymous donors/ founders/ whatever you call them) they all have the opportunity to make 399 BTC at 0.0001 BTC from a 1 BTC investment. Even if you could buy at the absolute low of 0.00005 (which it isn't at), you only have the chance to double your money, but why would you want the risk to merely double your money with these HUGE whales lurking?  Better yet, if it went to 0.001, they would have 3990 worth of BTC to dump, so forth. This coin has NO future potential due to the poor distribution of the coins. There are 70 reasons (probably more) to be scared every time the price goes up. At least Ripple is governed by one organisation and not a group of lucky investors which are looking to become overnight millionaires.

They are just dumping their stashes on the highs, creating panic and a massive price drop and then buying back at a much cheaper price. Rinse and repeat. The price will never go anywhere and it has been highly manipulated from the start.

If you don't think you were played and you are still singing the 'let me line the donor's pockets with millions because they deserve it for the risk' chant, here's a scenario which probably got you into Nxt in the first place. The great price pump of late December.

Two weeks ago when that pump was happening, practically ALL of the Nxt was held internally. The developers were basically selling to themselves to artificially increase the price. When all of the volume is coming from a small group of people, who in their right mind thinks this market is not being manipulated? The bag holders know the price will go down and they are cashing out now on suckers to buy back later for cheap. Rinse and repeat. All day I have been watching large buy walls get demolished. We are talking 500k walls and so on. Those poor people are now stuck at that price point while the greedy few buy back a lot cheaper for more carnage.  

TOPIC BREAKDOWN FOR THE LAYMEN:

- The source code was a joke
- The price is crashing due to major manipulation efforts and lack of confidence
- Any 'decent' profit now will make the donors extremely wealthy
- 3/4 of Nxt is not accounted for


Disclaimer: I own 50,000+ Nxt which will soon be GONE! I want out!
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_gnasher_
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January 06, 2014, 09:09:08 AM
 #2

You're an idiot for buying in the first place then, nothing has changed.

The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.
NWO
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January 06, 2014, 09:13:34 AM
 #3

You're an idiot for buying in the first place then, nothing has changed.

The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.

Lol have fun lining the pockets of the few who did donate. Nxt will NEVER bring you any decent profit when .001 means 3999 BTC for 70+ people. Keep up the optimism and ignoring obvious signs of a financial failure. Good way to lose money. Bravo!
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January 06, 2014, 09:25:01 AM
 #4

You're an idiot for buying in the first place then, nothing has changed.

The only people selling are those stakeholders, providing supply to the market - everyone can see that NXT (and POS) is the future of cryptos. Please do sell so I can pick some up cheaply! Also, everyone had an opportunity to get involved at the beginning. Unfortunately I didn't, so am now having to pay a premium.

Lol have fun lining the pockets of the few who did donate. Nxt will NEVER bring you any decent profit when .001 means 3999 BTC for 70+ people. Keep up the optimism and ignoring obvious signs of a financial failure. Good way to lose money. Bravo!

It's the same with most coins. E.g. >50% of Bitcoin is held by <1000 people. And other cryptos are even worse.

Yes, the stakeholders will make a killing. But I also think that this is only the beginning for NXT.
roozifus
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January 06, 2014, 09:25:41 AM
 #5

The fact that early adopters get rich is true of all cryptos.

The distribution concerns are real though, but if btc keeps going through the roof it probably won't matter, people will throw enough money into everything that nxt will still do very well because people want to diversify and nxt is reasonably unique (at least compared to the standard alts).
laowai80
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January 06, 2014, 09:29:32 AM
 #6

I want out!

https://www.youtube.com/watch?v=58Jbrz9WaKU
dimiro
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January 06, 2014, 09:33:36 AM
 #7

I guess thats the 'benefit' of any recent crypto.

Why spending years working on the same job day by day when you can launch crypto and in few months make a fortune?
NWO
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January 06, 2014, 09:34:09 AM
 #8

Look I agree with you both but that distribution is completely bullshit. I wanted to ignore it because the name, logo and everything was fine but at the end of the day when I did my profit calculations, it is a losing battle. There is simply too few people holding millions of Nxt. Any small gain for me is a HUGE gain for them (as outlined in my OP). Us buying Nxt is just making these individuals filthy rich. One already cleared his stash at 0.00012. Do you really think he didn't buy back in on that crash and will just do it all over again? OF COURSE HE WILL, he just DOUBLED his money from making hundreds of BTC. And there are many many others like him, just wait for it. Where is the unaccounted 3/4 of all Nxt, this is a really sham. Even for crypto.
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January 06, 2014, 09:59:59 AM
 #9

The problem is you don't see a full picture.. if the 'donors' could dump all coins at once, they couldn't cuz there would not be enough demand for NXT on exchange. So what is happening now is steady decrease of their stash to newcomers.. which gives you the distribution. If you only look for profit, probably this coin is not for you since it bets on feature richness. Who understands the potential behind those features will win in the end.

Also I have analyzed the top addresses and the total coins owned by them is slowly decreasing:

27.12.2013   79.36%
28.12.2013   79.16%
29.12.2013   78.34%
2.1.2014   66.48%
3.1.2014   77.39%
6.1.2014   75.64%

Keeping track further on numbers.

BTC: 16o89714EG9WGyi39NxifutFYk55QkxqQK
dzarmush
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January 06, 2014, 10:00:47 AM
 #10

blah blah blah, another pathetic troll

who is in his mind would tell everyone his gonna dump before he did it

superresistant
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January 06, 2014, 10:07:08 AM
 #11

Early-adopters must be rewarded for the risk they take.

It is the same for all crypto, it is the same for everything you do in your life.

Stop being mad at them, move on.
NWO
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January 06, 2014, 10:09:29 AM
 #12

The problem is you don't see a full picture.. if the 'donors' could dump all coins at once, they couldn't cuz there would not be enough demand for NXT on exchange. So what is happening now is steady decrease of their stash to newcomers.. which gives you the distribution. If you only look for profit, probably this coin is not for you since it bets on feature richness. Who understands the potential behind those features will win in the end.

Also I have analyzed the top addresses and the total coins owned by them is slowly decreasing:

27.12.2013   79.36%
28.12.2013   79.16%
29.12.2013   78.34%
2.1.2014   66.48%
3.1.2014   77.39%
6.1.2014   75.64%

Keeping track further on numbers.

Which is exactly my point. This coin will never move up in value as the huge bagholders will constantly be cleaning up. As you made apparent in your analysis and like I said in the OP. They are dumping on the high >0.0001 which causes the price to panic and then they buy back in at half the cost. Exactly why there was an increase from Jan 2nd. You displayed it yourself.

The price will never move because any kind of rally will be providing the demand needed to cash out.
sixteendigits
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January 06, 2014, 10:11:05 AM
 #13

I dumped mine, not because I was mad at those mean greedy 'ole early adopters who risked BTC when no when else would and now have the gall to not just hand their coins out (sarcasm in case you couldn't tell) but because the source code was finally released and word is it is a mess.
NWO
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January 06, 2014, 10:13:02 AM
 #14

Early-adopters must be rewarded for the risk they take.

It is the same for all crypto, it is the same for everything you do in your life.

Stop being mad at them, move on.

I'm giving the pure trading perspective, if anyone is looking to profit from this coin. Because no one will at this price and if they do it will be peanuts compared to the donors. Let me guess, you donated 1 BTC? Congratulations for making hundreds of thousands from idiots.
slavo
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January 06, 2014, 10:13:56 AM
 #15

blah blah blah, another pathetic troll

who is in his mind would tell everyone his gonna dump before he did it

when u are dumping 0.00000000% of a coin, i assume you can scream that u are dumping without giving a fuck
NWO
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January 06, 2014, 10:16:03 AM
 #16

I dumped mine, not because I was mad at those mean greedy 'ole early adopters who risked BTC when no when else would and now have the gall to not just hand their coins out (sarcasm in case you couldn't tell) but because the source code was finally released and word is it is a mess.

No I am astonished that more people have not done their due diligence before investing. The market is being manipulated and there is no room for significant profit due to a group of individuals holding a LARGE proportion of Nxt. These are the facts. Sorry if you feel mad.

Take it as a buyer beware topic.  
nastybit
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January 06, 2014, 10:17:24 AM
 #17

Early-adopters must be rewarded for the risk they take.

It is the same for all crypto, it is the same for everything you do in your life.

Stop being mad at them, move on.

I'm giving the pure trading perspective, if anyone is looking to profit from this coin. Because no one will at this price and if they do it will be peanuts compared to the donors. Let me guess, you donated 1 BTC? Congratulations for making hundreds of thousands from idiots.

As many (including me) said already for some time, IPO are as scam as all the rest, just a different type
No point on support them and trade for small profit where stakeholders can dump on you at their wish..
Thanks for the heads up anyway :-)
NWO
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January 06, 2014, 10:20:15 AM
 #18

Early-adopters must be rewarded for the risk they take.

It is the same for all crypto, it is the same for everything you do in your life.

Stop being mad at them, move on.

I'm giving the pure trading perspective, if anyone is looking to profit from this coin. Because no one will at this price and if they do it will be peanuts compared to the donors. Let me guess, you donated 1 BTC? Congratulations for making hundreds of thousands from idiots.

As many (including me) said already for some time, IPO are as scam as all the rest, just a different type
No point on support them and trade for small profit where stakeholders can dump on you at their wish..
Thanks for the heads up anyway :-)


Wow someone who isn't brainwashed and not chanting "donors deserve millions because of their risk, donors deserve millions because of their risk..." drone talk. Thank you for being intelligent.
dzarmush
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January 06, 2014, 10:22:22 AM
 #19

blah blah blah, another pathetic troll

who is in his mind would tell everyone his gonna dump before he did it

when u are dumping 0.00000000% of a coin, i assume you can scream that u are dumping without giving a fuck

so why the fuck do you care if you have 0.000000?

you care only if you're trying to dump the price and buy low, that's what happening right now in the main thread and on the Nxt forum, lots on accounts with 1-3 posts tell everyone that the crash is coming and everything is so bad so bad that it just couldn't be worse

slavo
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January 06, 2014, 10:29:35 AM
 #20

as he said, use ur brain.

I bought 1.2Mnxt for 0.02btc.

I let you do the math on my ROI, is it plausible to have that ROI without having smartass buyers who don't know that 2+2=4. When some of the top account will dump; u will say WTF on the main thread, and everyone involved will tell you that it's normal when everyone outside will just watch. I assume you will believe the nxt community members ?

POS are maybe the future, but not if distributed like that.
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