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Author Topic: The initial price of NXT was set too Low. The creators seem don't know its value  (Read 408 times)

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Online dzarmush

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There's only 21,000,000 BTC as opposed to 1,000,000,000 NXT.
So the maximum price for all the NXT to be sold is 0.021 BTC.

Again, wat? Do you really think that number of bitcoins has some kind of influence on Nxt price?

Just imagine all those exchanges a couple of years from now. Nxt reached its "maximum" price of 0.021 Btc. Millions of people all over the world want to buy more, but the know that the price can't be more than 0.021 so all order on all exchanges are 0.021. Do you even hear how weird it sounds? Even if Nxt won't ever be traded for anything but Btc it still doesn't matter. All billion coins can't cost more than 21M Btc, but any less amount can cost anything, even more than Btc. If something happens tomorrow and Nxt has huge success and there is no one wants to sell their coins the price could be 1 Nxt for 1 Btc.

Offline amt

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Just imagine all those exchanges a couple of years from now. Nxt reached its "maximum" price of 0.021 Btc. Millions of people all over the world want to buy more, but the know that the price can't be more than 0.021 so all order on all exchanges are 0.021. Do you even hear how weird it sounds? Even if Nxt won't ever be traded for anything but Btc it still doesn't matter. All billion coins can't cost more than 21M Btc, but any less amount can cost anything, even more than Btc. If something happens tomorrow and Nxt has huge success and there is no one wants to sell their coins the price could be 1 Nxt for 1 Btc.

I seem to have expressed myself badly. There's a misunderstanding to why I originally said what I said.
OP posted a ratio comparison between between Bitcoin and NXT. But made a mistake (I think) for Mastercoin.
That's where I stepped in and tried to correct.
So in my example the USD marketcap is 1:1 for BTC/NXT and BTC/MSC.
It'd just be swapping coins on a fair basis.
A thought experiment and theoretical, as stated.
The exchanges won't ever be "stuck" at 0.021 BTC/NXT.
We could trade 100 BTC/NXT right now between us.

I also immediately said that the BTC price won't matter if NXT succeeds.
If Bitcoin were to be sold for 100 BTC/NXT. It would mean Bitcoin failed and is a collector's item.
Oh, the vast emptiness
NXT: 12551194082373758928

Offline BitDred

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When NXT first came out that was before the recent bitcoin bubble.

All of these alt-coins were worthless and fractions of a penny before December.

They all exploded with the rise of bitcoin.