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Nxtty Altcoin Composite Index (NxttyACCI) singapore
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Author Topic: Nxtty Altcoin Composite Index (NxttyACCI)  (Read 37886 times)

eB101

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #40 on: January 22, 2016, 02:01:00 pm »


How is this weight reflected anyways? The piece I am missing in this thread is the mechanism that reflects the indice average of the index in the actual NXT System (AE/MS)?

For example, a web service call that calculates the indice of the index in real time based on coinmarketcap, and places a buy wall accordingly (which could be higher or lesser than previous buy wall). Only then a market of speculation can take place. But I don't think that's the way you are going especially putting a buy wall part which seems impossible in a permanent way, so what's enforcing any kind of speculation honesty (in NXT) from the issuer from which traders can play around with. Otherwise, we could say that the index is based on the value of government debts and it would change nothing right?

Once the index is fully deployed.....there will be simultaneously buy & sell walls at all specific index price points published to the Nxt blockchain.  In the screenshot below the index price point is 97.26924264 NXT ....which is the USD price of 0.671698 at that specific point in time. 

NxttyACCI does not use a points system such as the S&P 500 & Dow Jones Industrial instead we use a USD equivalent.  In the example below the USD price point at which the index is located is 0.671698 US cents reflected in the Nxt system as 97.26924264 NXT coins.


Thanks, makes better sense. My follow up questions then:

- would you update the buy and sell walls manually? What frequency?

- whether the publication of the index price is manual or automatic, the traders will still have the advantage of knowing the true value of the index over the issuer in between the updates of walls. That leaves the issuer in a poor position; traders can just buy right before the updates if the real time index is up, and they can resell right after the updates. This can be done indefinitely, assuming the time of updates is known. Thoughts around this?

- my bigger question around all this is, how do you(issuer) buy the sells, financially speaking? I mean, How much money is dedicated for this to work, especially the first batch of units that are distributed for free to the holders (thanks for that). And what happens when this buy wall initial capital is consumed, are you planning to inject of your own money again?
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #41 on: January 22, 2016, 04:28:55 pm »


Thanks, makes better sense. My follow up questions then:

- would you update the buy and sell walls manually? What frequency?

- whether the publication of the index price is manual or automatic, the traders will still have the advantage of knowing the true value of the index over the issuer in between the updates of walls. That leaves the issuer in a poor position; traders can just buy right before the updates if the real time index is up, and they can resell right after the updates. This can be done indefinitely, assuming the time of updates is known. Thoughts around this?

- my bigger question around all this is, how do you(issuer) buy the sells, financially speaking? I mean, How much money is dedicated for this to work, especially the first batch of units that are distributed for free to the holders (thanks for that). And what happens when this buy wall initial capital is consumed, are you planning to inject of your own money again?

1) It will be automated...the specific publish frequency might be constant or randomized within a specific time band of lets say 1-5 minutes.  The first step to automation is constant 1 minute block times which we will have after 621000. 

2) There are ways to resolve this issue..one of those can be automation.  Also we will eventually try to get as real time as possible but unlike tradition markets where you have markets that close and open the crypto market is constant; 24/7.  The market is always changing and this presents unique problems and opportunities. 

3) Buy/sells walls are dependant on the amount of NXT in the account so initially the buy/sell walls will be limited as larger trades take place the walls will grow accordingly.  The issuing account is actually an automatic market maker...meaning at all index publish price points there will be liquidity for buy/sell trades whether those trades are big or small.   

landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #42 on: January 23, 2016, 07:39:11 pm »

I wonder what is wrong with Bter. never mind how long it takes. but the fact that it has >55 million nxttycoins in its NXT address, i don't see how is there a problem trying to withdraw just some 1000s of nxttycoins. its this NXT address: NXT-LVKY-Q9KY-5Q2Z-AV9JA

You can check out the wallet's contents, what assets it holds, etc...at NXT Monetary System. so according to Landomata, ACCI won't be sent to exchanges. BUT you see, Bter has an NXT Address too and it exists in the NXT Monetary System too. So if none of those 55 million nxttycoins gets moved, won't Bter have like about 44 million ACCI 2 weeks from today??? Unless of course NXT Addresses tied to exchanges aren't part of the ACCI Distribution, then that's fine. but it would be for the best if it is included and Bter has plans to add ACCI to their exchange and all accounts holding nxttycoins will be updated accordingly.

But i'm not gonna put my fingers on that.

clarifications on this please. thank you.

If we send to the Bter wallet then the NxttyACCI will be under the control of bter and not the actual owners of the Nxttycoin.

youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #43 on: January 24, 2016, 01:25:27 am »

I wonder what is wrong with Bter. never mind how long it takes. but the fact that it has >55 million nxttycoins in its NXT address, i don't see how is there a problem trying to withdraw just some 1000s of nxttycoins. its this NXT address: NXT-LVKY-Q9KY-5Q2Z-AV9JA

You can check out the wallet's contents, what assets it holds, etc...at NXT Monetary System. so according to Landomata, ACCI won't be sent to exchanges. BUT you see, Bter has an NXT Address too and it exists in the NXT Monetary System too. So if none of those 55 million nxttycoins gets moved, won't Bter have like about 44 million ACCI 2 weeks from today??? Unless of course NXT Addresses tied to exchanges aren't part of the ACCI Distribution, then that's fine. but it would be for the best if it is included and Bter has plans to add ACCI to their exchange and all accounts holding nxttycoins will be updated accordingly.

But i'm not gonna put my fingers on that.

clarifications on this please. thank you.

If we send to the Bter wallet then the NxttyACCI will be under the control of bter and not the actual owners of the Nxttycoin.

landomata, actual owners of the nxttycoin who holds them on Bter....all their nxttycoins are stored in one NXT Address, no? if the answer is yes, then wouldn't that one NXT address exist in the NXT Monetary System? and wouldn't that one NXT address receive ACCI too because it is holding nxttycoins? All the conditions to receive ACCI are fulfilled. unless NXT Team decides not to send to that one NXT address.

anyway. its been nearly a week. my account on the NXT Monetary System still has a few thousand nxttycoins and has yet to be converted into ACCI. so i continue waiting? do i have to do anything besides just having nxttycoins stored on my account? like make it stake or something? or will they just automatically be converted? you said 2 weeks? 1-2 more days and its going to be 1 week yet i still have nxttycoins and no ACCI yet. So the plan is to slowly send ACCI to accounts that have nxttycoins, one by one?
« Last Edit: January 24, 2016, 04:25:38 pm by youandmeletsgo »
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taggartd

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #44 on: January 24, 2016, 10:56:22 pm »

Update


NxttyACCI distribution to Nxttycoin holders has begun today and will run for the next two weeks, if you wish to receive your NxttyACCI stake please move your Nxttycoin to your main account from Bter exchange wallet.


Thank you

Landomata
what do you mean for "main account"?
I think it's my normal nxt account were i have my nxttycoin. 
I just ask because i didn't received nxttyACCI.
Thanks
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MrCluster87

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #45 on: January 25, 2016, 11:01:20 am »

Me too, and I moved them from the Nxtty app nxt account to my personal nxt account.  :(

komputor

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #46 on: January 25, 2016, 11:05:38 am »

Same here. No NxttyACCI received yet.. ???
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #47 on: January 25, 2016, 01:49:12 pm »


Landomata
what do you mean for "main account"?
I think it's my normal nxt account were i have my nxttycoin. 
I just ask because i didn't received nxttyACCI.
Thanks

Yes...your nxt account where you hold Nxttycoin.

« Last Edit: January 25, 2016, 01:54:27 pm by landomata »
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #48 on: January 25, 2016, 01:54:44 pm »

Same here. No NxttyACCI received yet.. ???

The distribution is ongoing more than 60% of NxttyACCI have already been distributed to Nxtty holders.

youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #49 on: January 25, 2016, 02:48:31 pm »

Same here. No NxttyACCI received yet.. ???

The distribution is ongoing more than 60% of NxttyACCI have already been distributed to Nxtty holders.

i have no idea how nxttyacci coins/assets are being distributed. manually sending to accounts? or by some program? but looking at nxttyacci asset distribution on NXT Monetary System, it appears that not many accounts have nxttyacci. sure...60% of NxttyACCI have already been distributed to nxtty holders. but not 60% of Nxtty holders. many many nxtty holders still do not have nxttyacci. there is a difference and there are a lot of nxtty holders. so...i dunno how much can be done in just a week left.

just a backup question, just in case: what will be done if at the end of 2 weeks and one or more of us here still has no nxttyacci? will you extend or help out if you are one of the person in charge?
« Last Edit: January 25, 2016, 04:03:46 pm by youandmeletsgo »
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peggy2jj

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #50 on: January 25, 2016, 06:18:35 pm »

I received mine few days already. It's under ACCI in Monetary System. Thx
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youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #51 on: January 27, 2016, 02:04:54 am »

I received mine few days already. It's under ACCI in Monetary System. Thx

yup. i am well aware of it. i know its there. all i can say is you are one of those lucky few to have received it early. you are not the only one. there are easily 10-30 others too, as it can easily be seen at the "Currency Distribution" of ACCI. and yes...i also know NxttyACCI = ACCI.

Just an update: still haven't received mine.
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Kevinrasf

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #52 on: January 27, 2016, 11:31:47 am »

Im not experienced with the Monetary System stuff.

Weird thing is that when you search ACCI in the NRS wallet there is only 1 account buying and selling orders.

What is that?

Is 1 person just buying his own sells or is it something else?

I got ACCI as well how can I sell without any buy orders up?
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youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #53 on: January 27, 2016, 02:42:48 pm »

Im not experienced with the Monetary System stuff.

Weird thing is that when you search ACCI in the NRS wallet there is only 1 account buying and selling orders.

What is that?

Is 1 person just buying his own sells or is it something else?

I got ACCI as well how can I sell without any buy orders up?

i believe its for testing purposes. and i believe that NRS wallet is responsible for distributing ACCI to all nxtty holders.

congrats on getting yours. i still haven't gotten mine.

trading for ACCI is still disabled until next week i guess.
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Kevinrasf

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #54 on: January 27, 2016, 02:46:11 pm »

Im not experienced with the Monetary System stuff.

Weird thing is that when you search ACCI in the NRS wallet there is only 1 account buying and selling orders.

What is that?

Is 1 person just buying his own sells or is it something else?

I got ACCI as well how can I sell without any buy orders up?

i believe its for testing purposes. and i believe that NRS wallet is responsible for distributing ACCI to all nxtty holders.

congrats on getting yours. i still haven't gotten mine.

trading for ACCI is still disabled until next week i guess.

Thanks for replying.

Okay I didnt knew they could block you from trading.

Guess I'll have to wait then.
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youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #55 on: January 27, 2016, 03:04:06 pm »

Im not experienced with the Monetary System stuff.

Weird thing is that when you search ACCI in the NRS wallet there is only 1 account buying and selling orders.

What is that?

Is 1 person just buying his own sells or is it something else?

I got ACCI as well how can I sell without any buy orders up?

i believe its for testing purposes. and i believe that NRS wallet is responsible for distributing ACCI to all nxtty holders.

congrats on getting yours. i still haven't gotten mine.

trading for ACCI is still disabled until next week i guess.

Thanks for replying.

Okay I didnt knew they could block you from trading.

Guess I'll have to wait then.

got a Q: do you still have your nxttycoins? or do they just simply disappear from your NRS wallet?
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komputor

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #56 on: January 27, 2016, 03:10:15 pm »

We're in the crypto-world my friend. If your assets could vanish without your consent (or at least without you having to input your private key) then this forum would have been long abandoned by now. :)
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youandmeletsgo

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #57 on: January 27, 2016, 03:39:52 pm »

We're in the crypto-world my friend. If your assets could vanish without your consent (or at least without you having to input your private key) then this forum would have been long abandoned by now. :)

haha...i realized i asked a stupid question. but i wasn't sure how exactly ACCI was going to be distributed and also do not know if nxttycoins will still be around. i had thought nxttycoins were going to be exchanged for ACCI. landomata can further help out by giving some assurance over this matter.

i guess having been an "early" supporter of Nxtty app don't really help out much. *shrugs*.
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komputor

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #58 on: January 27, 2016, 03:52:54 pm »

TBH i'm also not sure about how the ACCI tokens are being distributed. I haven't gotten mine either btw.
My guess - ACCI is a more like a bonus/incentive for nxttycoin holders and you get to keep your nxttycoin.
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landomata

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Re: Nxtty Altcoin Composite Index (NxttyACCI)
« Reply #59 on: January 27, 2016, 06:23:14 pm »

TBH i'm also not sure about how the ACCI tokens are being distributed. I haven't gotten mine either btw.
My guess - ACCI is a more like a bonus/incentive for nxttycoin holders and you get to keep your nxttycoin.

1) Distribution is ongoing..those who have not yet received please be patient....all Nxttycoin holders will receive their share of ACCI. 

2) Trading will be enabled once our index automation is complete.

3) Do keep in mind that NxttyACCI is being built for the long term....as long as there are cryptocoins being traded NxttyACCI will track them and holders will be able to buy & sell ACCI.

4) NxttyACCI is a special unique dividend to Nxttycoin community.

« Last Edit: January 27, 2016, 06:30:12 pm by landomata »
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