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Price speculation
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Author Topic: Price speculation  (Read 4272951 times)

alxx77

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Re: Price speculation
« Reply #20960 on: March 16, 2015, 11:29:51 pm »

This is an important thing! Nice job!  :)
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Bernard Lerring

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Re: Price speculation
« Reply #20961 on: March 16, 2015, 11:44:31 pm »

Nice to see some kind of official status given to Nxt. This and the upcoming PayExpo leave me feeling rather bullish. :)
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Daedelus

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Re: Price speculation
« Reply #20962 on: March 16, 2015, 11:54:21 pm »

Nice to see some kind of official status given to Nxt. This and the upcoming PayExpo leave me feeling rather bullish. :)

I got another shiver if déjà vu on reading the last line...

Congrats guys, +1  ;D
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crimi

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Re: Price speculation
« Reply #20963 on: March 17, 2015, 12:20:15 am »

sweet
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gs02xzz

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Re: Price speculation
« Reply #20964 on: March 17, 2015, 12:27:39 am »

+1. Hope to see more Nxt related non-profit associations in the future such as Nxt Tech/Dev Association, Nxt Hall of Fame. :)
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Neomadra

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Re: Price speculation
« Reply #20965 on: March 17, 2015, 12:30:31 am »

wow, this is awesome! You guys are amazing!
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grewalsatinder

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Re: Price speculation
« Reply #20966 on: March 17, 2015, 12:40:49 am »

How could an account show negative balance???  ???
Was looking at Bithaus distribution and found this account showing negative balance!

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jones

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Re: Price speculation
« Reply #20967 on: March 17, 2015, 12:46:29 am »

How could an account show negative balance???  ???
Was looking at Bithaus distribution and found this account showing negative balance!



That's the genesis account. At the creation of nxt, all of the initial stakeholders were sent money from this account, which in turn went to negative 1'000'000'000. Because of this the total amount of nxt on the system is always 0.

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).
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grewalsatinder

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Re: Price speculation
« Reply #20968 on: March 17, 2015, 12:57:38 am »

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).

I see there are so many Assets sent to this account. What does it mean then? Nobody uses it? What assets are those? Unusable assets?
If the secret phrase is public and this account has so much assets in it, what if these assets are transferred to some other account and sold?
I don't get it exactly. Doesn't make sense... Getting confused... ???
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Tosch110

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Re: Price speculation
« Reply #20969 on: March 17, 2015, 01:05:28 am »

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).

I see there are so many Assets sent to this account. What does it mean then? Nobody uses it? What assets are those? Unusable assets?
If the secret phrase is public and this account has so much assets in it, what if these assets are transferred to some other account and sold?
I don't get it exactly. Doesn't make sense... Getting confused... ???

Sending Assets to the Genesis account is actually a hack. You can reduce the amount of Assets because they cannot be sent out from the genesis account (you can just make transaction with positive balance)
This will be fixed with 1.5 I think

rajc

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Re: Price speculation
« Reply #20970 on: March 17, 2015, 01:11:47 am »

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).

I see there are so many Assets sent to this account. What does it mean then? Nobody uses it? What assets are those? Unusable assets?
If the secret phrase is public and this account has so much assets in it, what if these assets are transferred to some other account and sold?
I don't get it exactly. Doesn't make sense... Getting confused... ???

just try it yourself. open client and put "It was a bright cold day in April, and the clocks were striking thirteen." in paraphrase
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jones

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Re: Price speculation
« Reply #20971 on: March 17, 2015, 01:13:25 am »

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).

I see there are so many Assets sent to this account. What does it mean then? Nobody uses it? What assets are those? Unusable assets?
If the secret phrase is public and this account has so much assets in it, what if these assets are transferred to some other account and sold?
I don't get it exactly. Doesn't make sense... Getting confused... ???

Sending Assets to the Genesis account is actually a hack. You can reduce the amount of Assets because they cannot be sent out from the genesis account (you can just make transaction with positive balance)
This will be fixed with 1.5 I think

I don't see anything that needs to be fixed, its a feature :)

The genesis account acts as a burn address because you need a positive balance to make a transaction, and genesis can never have a positive balance, so once an asset enters, it can't escape.

Sending assets to genesis is a way to prove that those assets are gone, this is useful in some scenarios when you have too many shares and need to prove to shareholders that their shares will not by diluted.
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Bernard Lerring

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Re: Price speculation
« Reply #20972 on: March 17, 2015, 01:15:40 am »

If anyone is curious about this account I wouldn't bother logging in.

It just added about 70 useless bookmarks to my Asset Exchange which I now have to delete one by one. Hah!
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rajc

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Re: Price speculation
« Reply #20973 on: March 17, 2015, 01:26:53 am »

If anyone is curious about this account I wouldn't bother logging in.

It just added about 70 useless bookmarks to my Asset Exchange which I now have to delete one by one. Hah!

oh, that is really annoying
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grewalsatinder

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Re: Price speculation
« Reply #20974 on: March 17, 2015, 01:31:32 am »

This account is used as a place to throw things away, or to reference when making certain types of transactions. The secret phrase for this account is something like "It was bright cold day in April and the clocks stuck thirteen." (the first sentence from the book 1984, my wording is probably off).

I see there are so many Assets sent to this account. What does it mean then? Nobody uses it? What assets are those? Unusable assets?
If the secret phrase is public and this account has so much assets in it, what if these assets are transferred to some other account and sold?
I don't get it exactly. Doesn't make sense... Getting confused... ???

just try it yourself. open client and put "It was a bright cold day in April, and the clocks were striking thirteen." in paraphrase

haha... yea, sold 91 mgwBTC in that account... NOT.  ;D :D :D
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Daedelus

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Re: Price speculation
« Reply #20975 on: March 17, 2015, 01:55:48 am »

This account is used...to reference when making certain types of transactions.

Tell me more. Which transsction types? Do you need the passphrase for this too?
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jones

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Re: Price speculation
« Reply #20976 on: March 17, 2015, 02:04:20 am »

This account is used...to reference when making certain types of transactions.

Tell me more. Which transsction types? Do you need the passphrase for this too?

All asset exchange operations and alias operations are done with the recipient being the genesis account.

Generally if there is no real recipient, you should put genesis in the recipient spot, the GUI does this for you of course.

One exception is an arbitrary message that you don't want to direct to anyone in particular, you should zero the recipient and not put the genesis. This is to not overflow the genesis with non relevent messages.
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achim

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Re: Price speculation
« Reply #20977 on: March 17, 2015, 08:05:10 am »

Mhhhh, look the price at poloniex, sub 4500 satoshis.
I like cornflakes an cheap Nxt in the morning
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Cassius

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Re: Price speculation
« Reply #20978 on: March 17, 2015, 08:07:34 am »

Mhhhh, look the price at poloniex, sub 4500 satoshis.
I like cornflakes an cheap Nxt in the morning

Which exchange has the big volume? Cmc is missing something and it doesn't look like BTER is that much.
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achim

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Re: Price speculation
« Reply #20979 on: March 17, 2015, 08:42:17 am »

Mhhhh, look the price at poloniex, sub 4500 satoshis.
I like cornflakes an cheap Nxt in the morning

Which exchange has the big volume? Cmc is missing something and it doesn't look like BTER is that much.

These days polo usually has the largest volume. BTER is not listed and has very little volume (luckily)
But today it looks like someone traded all Nxt at litebit.eu.
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