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Nxtty Altcoin Composite Index (NxttyACCI)
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Author Topic: Nxtty Altcoin Composite Index (NxttyACCI)  (Read 37904 times)

NXT ENTERPRISE

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #120 on: February 29, 2016, 12:20:09 am »

So...if my math is right, one NxttyACCI is currently worth $1.35 on CMC.  Multiply that by the amount created (800,756,647) and you have a market cap of $1,081,021,473 and some change.

That puts us (once CMC updates the available supply and cap) squarely in the #2 spot of ALL crypto...just behind Bitcoin...and a market cap nearly twice that of Ethereum...with the potential on going higher (and of course...lower) depending on the ALT market performance.

That should grab people's attention.  Question is...will they bite?

Can the valuation of this coin be described?

So this is a nxt colored coin based as an index on the top 20 alt coins.

Updated in price every hour or so?

The alt coins are at the update time converted to USD.

So each coin is an valuation in USD of the current exchange rate of the top 20 altcoins.

SO how many coins are there now and what is their current valuation?

Where is the liquidity?

Is there any asset here other than the automation programming?

How much USD is this colored coin now holding to back the valuation?

Does this coin at any stage own anything?

Any Altcoins in posession?
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youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #121 on: February 29, 2016, 07:41:23 am »

Update:


1) We are planning some NxttyACCI currency polls which will outline parameters and rules for imposing Account Control on the ACCI issuing account.

2) The MS bug mentioned in my previous post has been resolved....we look forward to smooth trading within a day or two.

more than 2 days already...

your post: February 25, 2016, 08:07:51 pm
my post: February 28, 2016, 02:35:10 am

The ACCI market is now fully enabled and working.

Glad to hear  :)
But no buyers  :( :D
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gck

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #122 on: February 29, 2016, 11:43:29 am »

So...if my math is right, one NxttyACCI is currently worth $1.35 on CMC.  Multiply that by the amount created (800,756,647) and you have a market cap of $1,081,021,473 and some change.

That puts us (once CMC updates the available supply and cap) squarely in the #2 spot of ALL crypto...just behind Bitcoin...and a market cap nearly twice that of Ethereum...with the potential on going higher (and of course...lower) depending on the ALT market performance.

That should grab people's attention.  Question is...will they bite?

Can the valuation of this coin be described?

So this is a nxt colored coin based as an index on the top 20 alt coins.

Updated in price every hour or so?

The alt coins are at the update time converted to USD.

So each coin is an valuation in USD of the current exchange rate of the top 20 altcoins.

SO how many coins are there now and what is their current valuation?

Where is the liquidity?

Is there any asset here other than the automation programming?

How much USD is this colored coin now holding to back the valuation?

Does this coin at any stage own anything?

Any Altcoins in posession?

Most of these are answered in the previous posts, but I'll answer.  Landomata can correct me if I am wrong.

Can the valuation of this coin be described?  A pure index of the top 20 ALTs, similar to the S&P 500, and can be traded

So this is a nxt colored coin based as an index on the top 20 alt coins.  Pretty much

Updated in price every hour or so?  I believe so.  ALT coins included are evaluated every 7 days manually (sooner if need be)

The alt coins are at the update time converted to USD.  Yes

So each coin is an valuation in USD of the current exchange rate of the top 20 altcoins.  Yep

SO how many coins are there now and what is their current valuation?  800,756,647, currently $1.38 per coin.

Where is the liquidity?  Question of the year!  There is no liquidity right now.  My hope is that when CMC updates the market cap this will have high visibility as it will be a solid #2 on the list.  Perhaps that will get people buying, but there is no guarantee.

Is there any asset here other than the automation programming?  No, other than NxttyACCI itself

How much USD is this colored coin now holding to back the valuation?  None.  The only holding is NXT for exchange fees and that is what the algo does to insure that is always available

Does this coin at any stage own anything?  No

Any Altcoins in posession?  No
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durerus

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #123 on: February 29, 2016, 04:41:07 pm »

My hope is that when CMC updates the market cap this will have high visibility as it will be a solid #2 on the list.  Perhaps that will get people buying

Are you serious?
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gck

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #124 on: February 29, 2016, 06:24:59 pm »

My hope is that when CMC updates the market cap this will have high visibility as it will be a solid #2 on the list.  Perhaps that will get people buying

Are you serious?

No... :)  Realistically...this probably won't go anywhere.  I'd like to be proven wrong.  It would be nice to make Bitcoin 2013 like profits for once. 

Decent idea though.
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NXT ENTERPRISE

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #125 on: March 01, 2016, 06:34:41 am »

I think the idea is great but it is a coin - currency with no money in it.

it just tracks other monies. so it is a derivative of these other markets.

I should then just buy and sell these alts as then i am sure i have the coins.

The paper - coins you are passing around is ment to have the gold in the vault.

I think it may even work as people will want to trade theses alts but there is something missing.

i could understand if there was an ICO and the money went to buy all these alts.

There would be backing.

Its a strange idea.

So these coins are already given a value based on what.

The total value of all the alts added up and made into USD.

Then how many NXT required to buy $1USD of this tracking coin with nothing in it other than desire from others.

Well actually it maybe fine as that is the value of all these crypto coins.

No one wants them they drop to $0

You could have chosen an arbitrary figure like $1 = 1 NXT

At present i would rather buy SuperBTCD or SuperEth or if soon SuperLisk

But i will watch and see ow it goes.

Perhaps good for in and out short term only trades
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #126 on: March 02, 2016, 08:12:41 pm »

I think the idea is great but it is a coin - currency with no money in it.

it just tracks other monies. so it is a derivative of these other markets.

I should then just buy and sell these alts as then i am sure i have the coins.

Its a strange idea.

So these coins are already given a value based on what.



You can buy any alts which make up the index instead of the index but over time you have the benefit of seeing the index performance and then you can compare what your return would have been over specific timeframes....NxttyACCI is only 2 months old, let us get couple years of performance data so that everyone can see how it performed against all the alts currently trading on the market.

Altcoins will come and go but the index will persist....the S&P 500 is decades old but the individual companies that make up the S&P 500 have changed beyond recognition.

NxttyACCI marketcap will always match the 20 altcoins which make up the index....this is by design ....how can an index not match the total market capitalization of its constituents?

 
« Last Edit: March 02, 2016, 08:17:19 pm by landomata »
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blackyblack1

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #127 on: March 02, 2016, 08:33:51 pm »

NxttyACCI marketcap will always match the 20 altcoins which make up the index....this is by design ....how can an index not match the total market capitalization of its constituents?
It's true. But it is impossible to sell NxttyACCI.
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durerus

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #128 on: March 02, 2016, 08:48:22 pm »

How can an index of a value itself be of the value it indicates?
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #129 on: March 03, 2016, 07:36:46 pm »

NxttyACCI marketcap will always match the 20 altcoins which make up the index....this is by design ....how can an index not match the total market capitalization of its constituents?
It's true. But it is impossible to sell NxttyACCI.

Impossible is nothing.  ;)

landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #130 on: March 03, 2016, 07:37:20 pm »

How can an index of a value itself be of the value it indicates?

That's the beauty of crypto...

viennavtc

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #131 on: March 04, 2016, 03:03:27 am »

lando, i guess you don't realize that s&p 500 funds and any stock etf owns the underlying stocks?  so that's why they are worth something?!?  and not created out of thin air?
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geekhaven

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #132 on: March 05, 2016, 12:14:38 pm »

You cant place an order for this. It just says only the creator can create etc... etc...
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #133 on: March 05, 2016, 08:03:33 pm »

lando, i guess you don't realize that s&p 500 funds and any stock etf owns the underlying stocks?  so that's why they are worth something?!?  and not created out of thin air?

I will repeat...NxttyACCI is a pure index such as the S&P 500 index: https://en.wikipedia.org/wiki/S%26P_500_Index

NxttyACCI is not an ETF: https://en.wikipedia.org/wiki/Exchange-traded_fund or index fund such as the Vanguard 500 Index Fund: https://en.wikipedia.org/wiki/Index_fund

NxttyACCI does not buy or hold the cryptos which are included of it's index.

landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #134 on: March 05, 2016, 08:10:19 pm »

You cant place an order for this. It just says only the creator can create etc... etc...

Only the market maker (issuing account) can place buy & sell orders.  This process is automated and the buy/sell offers are based on the actually price level of the index.

viennavtc

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #135 on: March 06, 2016, 01:14:46 am »

you should have made just one then and stuck it on the wall in your room - that way you wouldn't have bothered all of us
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geekhaven

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #136 on: March 06, 2016, 02:56:57 am »

You cant place an order for this. It just says only the creator can create etc... etc...

Only the market maker (issuing account) can place buy & sell orders.  This process is automated and the buy/sell offers are based on the actually price level of the index.
Market maker has automated sells only. So you can buy but you sure as hell can't sell.
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #137 on: March 06, 2016, 07:32:30 pm »


Market maker has automated sells only. So you can buy but you sure as hell can't sell.

Sells will be activated once the minimum liquidity level of Nxt in the account is passed.

martismartis

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #138 on: March 06, 2016, 08:04:26 pm »


Market maker has automated sells only. So you can buy but you sure as hell can't sell.

Sells will be activated once the minimum liquidity level of Nxt in the account is passed.

How much is minimum and which account?
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #139 on: March 08, 2016, 08:02:12 pm »


Market maker has automated sells only. So you can buy but you sure as hell can't sell.

Sells will be activated once the minimum liquidity level of Nxt in the account is passed.

How much is minimum and which account?

Issuing account...the minimum amount must be kept proprietary.
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