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Price speculation
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Author Topic: Price speculation  (Read 4422703 times)

Juniour

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Re: Price speculation
« Reply #22520 on: May 12, 2015, 02:58:53 am »

I'll tell you this. I have thousands of items to be sold here. Months ago I removed every listing from eBay due to the crazy 20-30% they charge. I would list those on the freemarket, but with every whale dropping price 10-20% each week it makes no sense to me. If freemarket was tied to coinoUSD or some other "stable" currency, the implication would be much MUCH bigger.
I do have some investments with NXT in different accounts, and what I see every day is "loss". FREEMARKET is the only opportunity NXT have to go mainstream. What I do not understand is WHY? I have $200-$300 for play here, but there are multiple accounts with tenths of millions NXT. WHAT DO YOU GUYS ARE WAITING FOR??? ME?

Do we really need multiple shitty assets everyday? Aliases, plugins, monetary systems? What else?
Daedelus, CFB, JL, James? WTF?
 
Let people sale for almost free here, the implication would be huge.

EDIT: Just think, why would I lower NXT price having stable assets I can redeem every moment. On the other hand, good and reliable assets like PonSea's need to be converted to NXT, then to USD, thus lowering the NXT price to recoup losses (or investments) each day. We need "free" trade with stability imbedded (Goods For Assets), otherwise the price is doomed to go down.
« Last Edit: May 12, 2015, 03:15:49 am by Juniour »
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Tom

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Re: Price speculation
« Reply #22521 on: May 12, 2015, 03:53:18 am »

Agreed 100%. If you car is having 4 nice wheels and a powerful motor, why would you need shiny mirrors or a 25'th wheel, if competitors are going twice as fast?
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qq2536007339

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Re: Price speculation
« Reply #22522 on: May 12, 2015, 04:19:05 am »

And the 1 nxt transaction fee is two high compares to Fiat, Btc, Bitshares, calculated in percentage.
This will decrease the trade volume little by little, until the transaction fee(1 nxt) worth cheap enough. (was thinking about it when reading <Out of Control> chapter 7)

I disagree.

First of all,NXT transaction fee already lower than BTC,1nxt price is lower than 0.0001btc at this moment.And much lower than fiat,I don't know how you compare.

Second,reduce transaction fee is not help the trade volume.Many other coins transaction fee are lower than BTC,but their trade volume still much lower than BTC,that's because network effects,not fee.

Third,this will inflate blockchain,with less revenue,full node will decrease,makes bad effect for NXT in long term.
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Lionel Preacherbot

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Re: Price speculation
« Reply #22523 on: May 12, 2015, 04:43:22 am »

Agreed 100%. If you car is having 4 nice wheels and a powerful motor, why would you need shiny mirrors or a 25'th wheel, if competitors are going twice as fast?

Who's the competitor going twice as fast? Nxt is the Pagani


To everyone else's Pinto
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allwelder

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Re: Price speculation
« Reply #22524 on: May 12, 2015, 04:55:59 am »

 :)
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allwelder

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Re: Price speculation
« Reply #22525 on: May 12, 2015, 05:01:47 am »

And the 1 nxt transaction fee is two high compares to Fiat, Btc, Bitshares, calculated in percentage.
This will decrease the trade volume little by little, until the transaction fee(1 nxt) worth cheap enough. (was thinking about it when reading <Out of Control> chapter 7)

I disagree.

First of all,NXT transaction fee already lower than BTC,1nxt price is lower than 0.0001btc at this moment.And much lower than fiat,I don't know how you compare.

Second,reduce transaction fee is not help the trade volume.Many other coins transaction fee are lower than BTC,but their trade volume still much lower than BTC,that's because network effects,not fee.

Third,this will inflate blockchain,with less revenue,full node will decrease,makes bad effect for NXT in long term.
The point.
Fee is not the problem at this stage.
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blackyblack1

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Re: Price speculation
« Reply #22526 on: May 12, 2015, 05:55:11 am »

I'll tell you this. I have thousands of items to be sold here. Months ago I removed every listing from eBay due to the crazy 20-30% they charge. I would list those on the freemarket, but with every whale dropping price 10-20% each week it makes no sense to me. If freemarket was tied to coinoUSD or some other "stable" currency, the implication would be much MUCH bigger.
I do have some investments with NXT in different accounts, and what I see every day is "loss". FREEMARKET is the only opportunity NXT have to go mainstream. What I do not understand is WHY? I have $200-$300 for play here, but there are multiple accounts with tenths of millions NXT. WHAT DO YOU GUYS ARE WAITING FOR??? ME?
Thanks for the support. Working with coinoUSD is exactly the next feature in line to implement.
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xchrix

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Re: Price speculation
« Reply #22527 on: May 12, 2015, 06:18:18 am »

i agree we should focus on freemarket or any other marketplace implementation for the masses. ebay is way too expensive!
there are many open source "ebay clone" php scripts out there. what about if we adopt these scripts to the NXT marketplace as database behind it?
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NxtSwe

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Re: Price speculation
« Reply #22528 on: May 12, 2015, 08:44:46 am »

there are many open source "ebay clone" php scripts out there. what about if we adopt these scripts to the NXT marketplace as database behind it?
This could be done, however the one hosting the site must (for his own sake) be ready to block all the illegal stuff that will appear.
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xchrix

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Re: Price speculation
« Reply #22529 on: May 12, 2015, 10:04:29 am »

there are many open source "ebay clone" php scripts out there. what about if we adopt these scripts to the NXT marketplace as database behind it?
This could be done, however the one hosting the site must (for his own sake) be ready to block all the illegal stuff that will appear.

are you sure he has to do this? the one hosting the site is just displaying data from an external database. he is not hosting the data.
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Tosch110

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Re: Price speculation
« Reply #22530 on: May 12, 2015, 10:10:58 am »

there are many open source "ebay clone" php scripts out there. what about if we adopt these scripts to the NXT marketplace as database behind it?
This could be done, however the one hosting the site must (for his own sake) be ready to block all the illegal stuff that will appear.

are you sure he has to do this? the one hosting the site is just displaying data from an external database. he is not hosting the data.

but you can control which data from the blockchain you show and which you don't. If you show the data, you can still create blacklists for words, special items or whatever and not display them on your website...

Damelon

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Re: Price speculation
« Reply #22531 on: May 12, 2015, 10:12:41 am »

there are many open source "ebay clone" php scripts out there. what about if we adopt these scripts to the NXT marketplace as database behind it?
This could be done, however the one hosting the site must (for his own sake) be ready to block all the illegal stuff that will appear.

are you sure he has to do this? the one hosting the site is just displaying data from an external database. he is not hosting the data.

It's not just a question of "having to".
As a merchant, I would not even wánt to have certain products on my site, because it would bite into my userbase.

A merchant won't want to endanger his trade.
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Bernard Lerring

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Re: Price speculation
« Reply #22532 on: May 12, 2015, 10:18:37 am »

How do eBay manage removal of restricted content? Do they just have huge team of people constantly searching for drugs and porn on there? You'd have to be an idiot to try and sell illegal drugs on eBay, but the internet is full of them :)
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NxtSwe

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Re: Price speculation
« Reply #22533 on: May 12, 2015, 11:03:43 am »

Another question to deal with for any future site is what methods of payment will you accept?
Non-reversible (blockchain) based payments is one thing, but accepting CC is a tricky one (which is needed if you don't want to block out 99%+ of potential customers).
By accepting payment on the site, and the actual purchase is done on NXT blockchain, you need to convert it into NXT and pay the merchant at the time of the purchase. However, the buyer can still require the money back at a later time, which puts you on the spot.
I don't know if there's any payment service that will take that risk for you.

The amount of work required to run this site is growing the more I think about it.
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Daedelus

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Re: Price speculation
« Reply #22534 on: May 12, 2015, 02:00:51 pm »

I get the feeling that the next release is much more complicated than recent releases.

People with tehcnical/software background (and enthusiastic, interested intermediates ;) ) are requested to spend an hour our two looking into this thread...

https://nxtforum.org/general-discussion/(core)-edge-cases-for-1-5-6e

... and helping out where they can. It is good for all in the long run. Get on testnet and find out how phasing works and then break it  ;D

Thanks in advance  :)
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HolgerD77

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Re: Price speculation
« Reply #22535 on: May 12, 2015, 03:02:25 pm »

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Peter2516

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Re: Price speculation
« Reply #22536 on: May 12, 2015, 04:27:09 pm »

http://ftalphaville.ft.com/2015/05/11/2128849/exposing-the-if-we-call-it-a-blockchain-perhaps-it-wont-be-deemed-a-cartel-tactic/
"Why are the great and the good of the banking and financial services world suddenly extolling the virtues of blockchain, the technology that underpins the artificial scarcity of bitcoin? Possibly because they've finally figured out that what the technology really facilitates is cartel management for groups that don't trust each other but which still need to work together if they're to protect the value and stability of the markets they serve. Cartel enforcement, in that sense, appeals to all sorts of financial players from bankers and commodity producers to general asset creators."
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Peter2516

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Re: Price speculation
« Reply #22537 on: May 13, 2015, 01:41:23 pm »

(from CoinTelegraph)

The Euro Banking Association (EBA), a conglomerate of over 200 financial institutions from the European Union, has issued a paper about "Cryptotechnologies," in which the organization explores relevant systems for transaction banking and payments professionals: https://www.abe-eba.eu/downloads/knowledge-and-research/EBA_20150511_EBA_Cryptotechnologies_a_major_IT_innovation_v1.0.pdf

Quote
Over the past five years, cryptotechnologies have surfaced as major IT innovation with the potential to improve the architecture of systems and processes in a number of digital transaction-based industries. At the core of this invention is the concept of ‘distributed consensus ledgers.’ These ledgers make it posible to jointly create, evolve and keep track of one repository of transactions or other successive events over ashared network (documenting, for instance, the ownership of value) without maintenance or administration by a central authority.



Quote
Applications stacks such as NXT, Ethereum and Eris can be distinguished based on their focus. They are the result of the continuous search for ‘non-currency’ applications of blockchain technologies. The main focus of any application stack is on becoming a platform for the development and execution of complete applications5 on top of decentralised networks (see Figure 4). A close analogy would be to describe application stacks as decentralised versions of what we currently call ‘cloud services’ as delivered, in non-cryptotechnology environments, by companies such as Amazon and Microsoft.
This technology could hold attractive opportunities for any party involved with payments, especially in relation to the creation of product offerings and the customisability/granularity of these offerings. However, to date, this technology is perceived as immature for banking grade applications and some of these muchanticipated applications have not yet been launched. It is for these reasons that this category will not be discussed further in this document although developments in this category merit ongoing attention.
« Last Edit: May 13, 2015, 01:50:52 pm by Peter2516 »
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achim

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Re: Price speculation
« Reply #22538 on: May 13, 2015, 02:24:03 pm »

Hmm, they ignored that a crypto can fall into multiple or all four categories  ;)
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MrCluster87

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Re: Price speculation
« Reply #22539 on: May 13, 2015, 03:02:58 pm »

The  remainder  of  this  document  will  focus  on  outlining, for this fourth ‘asset-centric’ category, specific use  cases  with  a  view  to  illustrating  the  potential applicability  of  cryptotechnologies  to  four  PSP  relevant  applications,  namely: 
1.  foreign  exchange  and remittances, 2. real-time payments, 3. documentary trade and 4. asset servicing.

They are looking at Ripple,  Stellar and  Hyperledger.

So these three if adopted and choosed will go to the moon.
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