Is Hoarding Going to Hurt NXT?

[buybitcoinscanada]

I have a large portion of my Nxt holdings for sale below market value. Put your money where your mouth is.

I will also be starting a bounty thread that will award amounts of 1000 to 10,000 Nxt.

Lastly, I saw another users post for a giveaway thread but nothings been done on it yet, so I'll start my own. Giveaway amounts will probably be 250 to 1000 depending.

Keep a watch on my "Nxt for sale" thread here and on bitcointalk to buy Nxt and also for updates on the upcoming bounty and giveaway threads:

My nextcoin forum thread: https://nextcoin.org/index.php/topic,330.msg2209.html#msg2209

My bitcointalk forum thread: https://bitcointalk.org/index.php?topic=361323.msg3867540#msg3867540

[BaiMangal]

I know a few people that gave up this just because it turns to be difficult to start and for some its like begging!

Also if you really need about 1 000 000 NXT in order to be bale to produce something its almost the same as having 7 BTC and gamble on the volatility at the moment!

[lyynx]

In addition to my prior post, the coins success is not only dependent on it's distribution and stability of the client, but more importantly, the release of the source on or about January. It appears we already have a enthusiastic community of participants that are more than willing to lend a helping hand.

If the stakeholders vote not to release the code, we have a completely different animal on our hands. Then we have some other questions to ask moving forward, how many other items will the stakeholders vote on and when. If it's anything more than the source code, perhaps it's not as decentralized as we thought. Has this been discussed? Will there always be stakeholders? Or does it end at the first vote?

This is not a bashing session as I am fully invested in the coin's future, but serious questions to consider. Let's forget about profits, promotion and growth, if only for a moment and really start concentrating on questions that truly effect the coins future.

The simple fact of the matter is if all the features are implemented as promised in BCN's original concept, we have something really special here.

[buybitcoinscanada]

In addition to my prior post, the coins success is not only dependent on it's distribution and stability of the client, but more importantly, the release of the source on or about January. It appears we already have a enthusiastic community of participants that are more than willing to lend a helping hand.

If the stakeholders vote not to release the code, we have a completely different animal on our hands. Then we have some other questions to ask moving forward, how many other items will the stakeholders vote on and when. If it's anything more than the source code, perhaps it's not as decentralized as we thought. Has this been discussed? Will there always be stakeholders? Or does it end at the first vote?

This is not a bashing session as I am fully invested in the coin's future, but serious questions to consider. Let's forget about profits, promotion and growth, if only for a moment and really start concentrating on questions that truly effect the coins future.

The simple fact of the matter is if all the features are implemented as promised in BCN's original concept, we have something really special here.

Preceeding everything in importance at this moment is a white paper.

[miztaziggy]

This is not a bashing session as I am fully invested in the coin's future

This is the problem.

How can a coin prosper when so few are invested in its future?

The reason all the other coins take off is because people can mine them themselves and get 'in on the action'.

[DiCE1904]

This is not a bashing session as I am fully invested in the coin's future

This is the problem.

How can a coin prosper when so few are invested in its future?

The reason all the other coins take off is because people can mine them themselves and get 'in on the action'.

you can mine them here you just have to buy coins to mine just like you would have to buy a GPU or a ASIC

[northranger795]

As someone who held about 5 million NXT. I sold most of mine on DGEX.com (only have about 203k now). I do think hoarding harms the coin. But NXT is still brand spanking new. Its a little more than 2-3 weeks old. Theres not even an "official" release yet. Think of right now as a pre-release. Client isnt stable. As the matter of fact, as a former stakeholder (if I can call myself that =)), I was afraid to transfer NXT back into my client because it is so unstable and I fear losing it somehow and I am sure most stakeholder are feeling that too. Wait until January or February at the latest. You can start losing confidence in NXT then if the client is stable, bugs fixed, etc. and all stakeholders (+5mill) are still holding out and being selfish. But for now, NXT has a bright future.

For those that are scared of investing in NXT right now I have a quote for you:

"Be fearful when others are greedy and be greedy when others are fearful".

Give NXT a chance until February.

/endrant

[hob]

This is the problem.
How can a coin prosper when so few are invested in its future?
The reason all the other coins take off is because people can mine them themselves and get 'in on the action'.

you can mine them here you just have to buy coins to mine just like you would have to buy a GPU or a ASIC

With the difference that I just walk into almost any store to buy a GPU, pay how I like and 10 minutes later I'm done. For NXT you have to have BTC to buy NXT and there's only one store that sells them, if at all.

[ST000]

I've posted this elsewhere - I think a better marketing strategy is needed other than giving away NXT to the crypto community. For one a lot of people in the crypto community now are new people who are looking at NXT and other coins as ways to make a lot of money, which isn't a bad thing but people looking for free coins and hoping they end up worth a lot of money aren't going to push the coin into the mainstream.

I understand the concerns of users with 1 billion NXT being in the hands of so few, which is why I think it is important to here the voices of the investor more in the forum and come together to figure out how they are going to distribute and market NXT.

I think it would be a good idea to have investors pledge X amount of NXT to various marketing schemes, which will in turn put peoples minds at ease.

An example could be:


71 investors pledge 10k NXT each to project A - 710k is in the project A kitty.

With project A people sign up, they receive 250 NXT, they then have to go and distribute this NXT via various social networking website, reddit, twitter, facebook to users who are not already in the crypto community. Once they have evidence that 5 normal people (this can be checked by checking a users reddit history for example, to ensure it is not a new user created to try and exploit project A) have set up an NXT account and received 50 NXT, they are then paid out 1,750 NXT for their work.

So with 2k NXT you would have 6 new users with NXT accounts and NXT funded to the accounts, with 710k in the kitty that is 355 new users, if each investor invested 100k that is 3550 new users, 500k would be nearly 18k new users of NXT.


Another project could be saved for after the launch of NXT, convince an independant online shop to accept NXT and receive 2.5k NXT bounty, if each investor pledges 100k that is 3000 stores accepting NXT.

And these can be adjusted to please the investors as well as the users.

I think it would do a lot for the community of NXT to hear people pledging to some marketing schemes, at least hear their voices on the forum ensuring they are trying to find
a way to promote NXT.

[Gradis]

no way is 1000000 nxt worth 6 btc. not when 63% of nxt are not in circulation.

[qibucks]

I opened a dgex account three days ago and invested 20 usd in value in BTC..Now after three days already the NXT coin value in my dgex account has gone down by 75% in intrinsic value. Has this downturn in value of the coin happened because of the China Banks BTC announcement or because of some slower development regarding large stake holder's big holdings of NXT Coin? Of course I would love to see this kind of second generation Crypto take hold and I want to keep the coins. I am not selling them at a loss. More of us make know and use NXT coin more likely it will gain momentum.

[pandaisftw]

no way is 1000000 nxt worth 6 btc. not when 63% of nxt are not in circulation.

Do you really think 37% of BTC are in circulation? Most people buy and hold, and never use, hoping for higher value. Bitcoin was "sucessful" (starting the cryptocurrency movement).

There are threads with giveaways, bounties, etc. There is a misconception that the only way to get started with alt-coins is to mine, with zero start-up costs because you already had the hardware (ie. wanting free coins). With PoS, this is not the case. It's a different system, with a different, improved, mining system (forging).

As it has been stated, the market will force the hoarders to sell: A) If the coin is failing, they want to cash out B) if the coin is doing well, they want to cash out.

[mi2]

As it has been stated, the market will force the hoarders to sell: A) If the coin is failing, they want to cash out B) if the coin is doing well, they want to cash out.

That being said, if I was the investor, I'd just go to dgex and sell as much as I could at whatever price. I bet that even 1 BTC per 1 M NXT is much better than the price at which NXT will be selling a few months from now.

[klee]

As it has been stated, the market will force the hoarders to sell: A) If the coin is failing, they want to cash out B) if the coin is doing well, they want to cash out.

That being said, if I was the investor, I'd just go to dgex and sell as much as I could at whatever price. I bet that even 1 BTC per 1 M NXT is much better than the price at which NXT will be selling a few months from now.

Dream on.


I was studying the DGEX ask order book:

Code: [Select]

NXT U.P.         BTC
915945 0.000005 4.579725
133030 0.00000519 0.6904257
291643 0.0000052 1.5165436
25000 0.00000549 0.13725
500000 0.0000055 2.75
43264 0.00000619 0.26780416
30000 0.00000648 0.1944
100000 0.00000649 0.649
100000 0.0000069 0.69
100000 0.0000079 0.79
106035 0.00000791 0.83873685
98157 0.00000849 0.83335293
23700 0.00000884 0.209508
50000 0.00000888 0.444
878773 0.00000889 7.81229197
50000 0.0000089 0.445
100000 0.0000089 0.89
100000 0.0000089 0.89
50000 0.0000095 0.475
10000 0.0000096 0.096
50000 0.00000977 0.4885
100000 0.0000099 0.99
50496 0.00000999 0.50445504
50000 0.00000999 0.4995
40000 0.00000999 0.3996

Total Nxt=3,996,043
Total BTC=28.08109325
Total NXT sold below 0.00001btc/nxt are about 4M for ONLY 28BTC.
Now please tell me again about early adopters hoarding..these are a bargain, everyone in his right mind would buy.

Most people here would sell them for 40BTC total!

[Brian]

I'm really concern about this... Even if NXT goes to a $1 there won't be enough buying power to buy 639million held by 18 people... Those 18 people are going to fight over buy orders when it reaches certain point... This coins should be spread.

The current buy order book is only .05% of 639mil

I think this will destrot NXT coins..