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Author Topic: MS tokens can never be less than 1 NXT?  (Read 494 times)

Omar

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MS tokens can never be less than 1 NXT?
April 16, 2018, 08:41:24 am

Is this right? MS tokens can never be traded for less than 1 NXT? I know there is a 1 NXT fee for the transaction, but I mean the value of the token cannot be 0.05 NXT?

If this is right then all of the MS currencies issued on NXT are simply more NXT coins. Since it seems unlikely they could hold there value above the price of NXT for long, and they cannot be worth less than 1 NXT, they will always be worth around 1 NXT. It seems unlikely that NXT will go up in value when anyone can just issue more NXT.

Has this been discussed before? Has anyone looked at implementing an independent value for the MS currencies so they don't weigh down NXT's real value?

blackyblack1

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MS tokens can be less than 1 NXT.

czhang

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MS tokens can be less than 1 NXT.

When can NXT fees fall below 1nxt?
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One of China's front-end developers

Omar

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Hello blackyblack1,

Thank you for replying. That is great to hear!

How do you do it? When I go to a MS Currency, and try to place an offer, the 'Buy Rate per unit' and 'Sell Rate per unit' only accept whole numbers; no decimals, and there is a popup that says "Fractions are not allowed". What am I missing?

VanBreuk

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blackyblack1

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MS tokens can be less than 1 NXT.

When can NXT fees fall below 1nxt?
Never.

Omar

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Hello VanBreuk,

Thank you for the link, but the solution is now working for us. We are currently testing a Nxt-Clone on a few nodes, and regardless of the number of decimal places we issue the currency for, or the settings in the Nxt client, we get "Fractions are not allowed".

I have tried posting buy offers for several Nxt MS Currencies with a decimal, and each time "Fractions are not allowed", whether it is 0.5 or 1.5, Nxt is rejecting decimals for me. I have adjusted my client setting to 8 decimals, 6 decimals, 3 decimals, default was 2 decimals. Also I see that all recent exchanges for the currencies I viewed are whole number exchange rates.

It must be an environmental issue on our end. We're testing the client on Fedora and Windows, and the nodes are Debian. I feel like a fool for asking, but can someone help us trouble shoot this?

If you are willing, please go to the Nxt=>Monetary System=>Currencies section as try to make an offer on any currency for a decimal amount. You don't need to buy anything, just see if Nxt lets you enter a decimal. Click "exchange" next to any currency, and click "Offer" at the top, then put in a decimal in the "Buy Rate per unit"

If it works can you tell me your Nxt version (eg Nxt 1.11.13) and operating system (eg Windows, Ubuntu, Fedora). Also can you tell us the Currency, and the number of decimals in your Nxt client settings (Settings=>Account Settings=>Maximum NXT decimal positions), so we can true to replicate your results?

If you do this, or can provide info, I thank you!

blackyblack1

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Apparently an UI bug. Should be reported to dev team.

Omar

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On the premise that this is a bug, we installed old versions of Nxt client to see if we could make an offer using a decimal place. We had to go back to Nxt 1.11.9 before it worked. In Nxt 1.11.9 it did not matter how many decimal places there were in the Settings or the MS currency, it just worked.

We're going to submit this as a bug on bitbucket.org/Jelurida. If there is a better place please let me know.

If any one has this working on any version of Nxt after Nxt 1.11.9 please post your OS and Nxt Version here so the devs have more info.
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