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Messages - durerus

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Nxt General Discussion / Re: Price speculation
« on: June 12, 2017, 02:45:36 pm »
"David, who had been in the cryptocoin space since 2012, met up with Sergey Ivancheglo in 2013 shortly after Sergey created the first Proof of Stake consensus mechanism." (https://www.cryptocoinsnews.com/unlimited-size-zero-fees-developer-aims-solve-blockchain-bottleneck/)

Seems like IOTA guys are saying that CfB is BCNext. Can anyone confirm?

NXTventures / Re: NXTventure - bringing only the best issues to NXT AE
« on: April 22, 2017, 01:28:08 am »
Do you mean he is REALLY willing to distribute the assets owned by NXTventure? Yes, he is.
Do you mean he REALLY doesnt have the time to do it? Yes. It is a lot of work and he is busy.

NXTventures / Re: NXTventure - bringing only the best issues to NXT AE
« on: April 21, 2017, 04:42:17 pm »
Somebody needs to volunteer for the distribution of assets owned by NXTventure. James doesnt have the time to do it.

Nxt Asset Exchange / Re: KOMODO Gateway Asset
« on: March 03, 2017, 12:32:03 am »
It's dead. I figured that BTCD on Polo is too much competition for a NXT gateway asset.

Thanks for the update.  Any new projects?
Invested 1k NXT in this startup and ended up with 1M of worthless KMD assets. Gotta recover from that loss first. But I'll be back with another genius idea ;D

Nxt Asset Exchange / Re: KOMODO Gateway Asset
« on: February 27, 2017, 06:22:44 pm »
It's dead. I figured that BTCD on Polo is too much competition for a NXT gateway asset.

Nxt General Discussion / Re: Price speculation
« on: January 29, 2017, 11:32:54 pm »
hey lando, can I sell my nxttyacci coins (monetary system) to u pls?

Am I too late for the party - did lando left the ship?
Plz get back in the line. I also still have around 200M NXT worth of Nxttyacci ready to redeem.

Nxt General Discussion / Re: [Ardor] It's coming...
« on: January 04, 2017, 04:21:23 pm »
Amazing how you always deliver on time.

Nxt General Discussion / Re: Price speculation
« on: November 15, 2016, 05:27:03 am »
It can be lower than the asset value - as long as it's still a high enough barrier. Should Ardor sub-chains be picked up by significant players, then they would in their self-interest back the value of Ardor.
How do you think it should work? Let's say NAUT is being listed on Ardor and ARDR drops 50%. The NAUT holders should jump in and start buying ARDR to keep it's price high?

Yes, any serious users would do that. If you create an Ardor product you know this in the first place: you will have to do your part to support the network to have security. It's the same as setting up NXT nodes.
I highly doubt you words. Never seen anyone rushing to buy a crashing coin in order to support it's security.

And doesn't it contradict your first question? If you think that the value itself can go so low, then why would it be worth forging?
Because you cannot do anything else with it. Better have tiny + with forging than solid 0 without it.

? I can invest in tons of things and get more return than 0.1% of (in this case) valueless Ardor fees.
I.e. I could just put my money in Ignis and even a rise of 1% in a year would be better. Even the average stock market (or Bitcoin) will likely do better than that.
If you do not hold any ARDR it is the best solution. But if you are a holder there is a choice of just holding or holding and forging.
Amazing grade of sophistry.

Nxt General Discussion / Re: Price speculation
« on: November 06, 2016, 10:55:44 pm »
Exactly @ThomasVeil

To me it seems that Ignis is just the first example of what the Ardor platform can do. Ignis is a product, ARDR is the stock, that potentially pays dividends one day, if lots of products are sold (child chains created and used).

Since the demand for NXT has mostly been a speculative demand and not a demand caused by people who need NXT to use the features, the same will be true for ARDR and IGNIS. Now what will speculators demand: The stock or the product?

Nxt General Discussion / Re: Price speculation
« on: November 06, 2016, 07:48:08 pm »
If they make an ICO without bonuses for early birds, everybody will wait until the last day of the ICO. This will create chaos and the team will probably end up with less BTC. That is why almost every ICO has early bird bonuses.

So they will offer bonuses for early birds. Judging from history, the biggest amount of BTC will be raised in that bonus period of the ICO. So as a NXT holder you will get quite good information on how much value will be added to your NXT after the bonus phase is over.

Let's assume they collect 1k BTC in the bonus phase and NXT at that time is at 1k Sat. If you carefully assume that they will raise another 500 BTC after the bonus phase you can based on that calculate the added value to your NXT:

With 1500 BTC raised for 500 million coins IGNIS marketcap is set to 3k BTC. With NXT market cap at 10k BTC this information should drive the price towards 1150 Sat per NXT. A gain as low as 15% for NXT holders. Not comparable at all to the move from 1k to almost 6k Sat due to ARDR snapshotphase, which is a 500% gain.

To get a similar 500% pump with the IGNIS snapshot the ICO would have to raise 50k BTC.

So if you buy NXT now, because you think IGNIS and ARDR snapshots are comparable in relation to hype potential, you are betting on 50k BTC raised for half of the supply of one of possibly many child chain tokens.

Nxt General Discussion / Re: Price speculation
« on: November 06, 2016, 05:38:48 pm »
Are you saying they are going to set a BTC/INGIS price to sell those coins? Most ICOs just proportionately distribute based on percentage of BTC invested.  So for example, if 500 BTC invested that means 1mm INGIS = 1 BTC.
If they do it like that, the BTC raised at the time for 500 million IGNIS will determine the price. If the ICO BTC address is known, we will always have price information. This information will set a cap to speculation. No hype to be expected in this case too.

Nxt General Discussion / Re: Price speculation
« on: November 03, 2016, 07:22:40 am »
Jelurida said they will sell the 500 million IGNIS in an ICO manner. So they have to set an ICO price, perhaps with bonuses etc. They definitely will sell all 500 million coins, because otherwise there will be "bad distribution" ;) Doesnt matter so much, since it is not the forging token, but still scares speculative investors.

This ICO should take place before NXT holders get their 50% IGNIS. Otherwise there would already be a market price and a certain volume. If then they tried to sell at market price, they wouldnt be able to sell 500 million, because volume is too low. If then they tried to sell below market price, they would make IGNIS holders angry ;)

So the ICO will necessarily happen before IGNIS is tradeable and has a market price. Now the question is: What would be a good ICO price?

This is extremely difficult to decide. If they charge too much, they wont get enough funding. And they need funding. Because if they still have to do the ICO in the middle of next year, they will have unsuccessfully tried to get funding in the meantime. So they will think: Better charge only a moderate price.

But what is a moderate price? There are no criteria. Maybe they set a goal of 1 million dollars. That would be "only" 1300 BTC at current prices. Sounds like not much. Would set market cap of IGNIS to 2600 BTC. NXT now still has 8500 BTC market cap.

Now let's assume a bad scenario and say NXT continues to fall and is as low as 500 Sat when the ICO with all its conditions and the price of IGNIS gets announced. With a funding goal of 1 million dollars and a BTC price of 750 dollars they would set a price of 260 Sat per IGNIS, which adds 130 Sat to your NXT and gives it a value of 630 Sat. Now where's the bubble?

The reason why I am writing this is to warn people who think we will see a NXT bubble like with the ARDR snapshot also with the IGNIS snapshot. This will not be the case. Because the value added to your NXT will be known in advance and you dont need to buy NXT to get IGNIS. With ARDR nobody knew how much it will be worth on the market. Therefore there was a speculative hype. With IGNIS we will know, because the ICO price is set in BTC and because we have one seller and buyers (= a market).

But maybe we will have a pre-announcement bubble, you might think. Because before the announcement of the ICO price there might be a speculative hype on how high the ICO price will be set. But again: Is it probable that the ICO price will be high?

The value added to your NXT at 500 Sat due to your right to get 0.5 IGNIS for every NXT you hold would be 130 Sat, if we use the above numbers. Why should the NXT price fly to 2 or 3k Sat in a pre-snapshot bubble when the added value to your NXT due to your right towards half an IGNIS will only be 130 Sat?

You might say that these numbers are pure speculation. Right. But this is what we have to do in the absence of information. Therefore the question is: Are these numbers realistic?

Ask yourself: Is it probable that Jelurida will try to get 10 million dollars of funding? That would mean that IGNIS would be valued at 2.6k Sat. And the added value to your NXT would still only be 1.3k Sat, if all 500 million coins were sold.

10 million dollars would be nice to have for Jelurida. But do you think that collecting 13k BTC for half of the supply of a childchain (!) token is realistic?

Ask yourself this too: Will the price of NXT after the launch of Ardor more likely go up or down?

I would suggest to not speculate on another bubble. If you believe in the Ardor platform, buy ARDR. Buy some IGNIS to play with the functionality. But the real investment here with a chance of dividend is ARDR.

NXT was at 900 Sat this year already before the snapshotphase. Now in the BTC rise we are only a little lower. What will happen once people realize that the ARDR snapshot and the IGNIS snapshot are not at all comparable in relation to hype potential??? It is not looking good for NXT price IMO. Even at these lows.

Think I'm wrong? Prove it!

Nxt Asset Exchange / KOMODO Gateway Asset
« on: October 15, 2016, 02:14:57 pm »
To be announced...

Nxt General Discussion / Re: Announcing Jelurida!
« on: October 07, 2016, 01:30:01 pm »
A big step in the right direction.

Nxt General Discussion / Re: Price speculation
« on: October 07, 2016, 02:15:33 am »
Wow. First preannouncement of an announcement since two years or so. Must be something big. Pre-buying done. Now waiting for the party to get started ;D

Nxt General Discussion / Re: Price speculation
« on: October 03, 2016, 07:26:26 am »
You are wrong folks, POS is not green! Because to buy your stake you need money, which you got from work that has cost you energy ;D

Nxt General Discussion / Re: Price speculation
« on: October 01, 2016, 03:51:38 pm »
Those who are purists (for lack of a better word) want to trade crypto for goods and services, not dollars or other monetary devices.  Trading for "things" creates a market and increases the acceptance of the medium.  I contend that those who buy low and sell high only to "cash out" don't care about crypto for any other reason than to make fiat money.  They give crypto a bad name to outsiders who see it more as a gamble than a movement.  Those that really care about crypto talk about it and promote it as a substitute for fiat, not a vehicle to get more fiat.

And I'm a hard-core capitalist.  I love money.  That is not what crypto is about, IMHO.  It's about freedom from government.
In the special case of crypto I would even say that people who see a deeper meaning in their efforts for crypto need pure speculators to get adoption of their coin. If everybody was giving time and work, but nobody money, the whole effort wouldnt be sustainable. I want to make fiat with crypto. But I only want to make fiat, because right now and in the foreseeable future fiat will be the generally used medium of exchange. What is wrong with that? Dont you need stuff? Dont you do economical calculations? Is everybody bad who is trying to make fiat to pay his bills? Why is working in a job to get fiat better than speculating with crypto to make fiat? The potential of crypto to become a substitute for fiat is the main driver behind bitcoin speculation. But there is no contradiction to participate in that speculation and to cash out in fiat as long as fiat is what buys things you need. This is just the smart thing to do. Smart people will diversify anyway and not go all in fiat ;)

Looking at reality fiat is still the most generally used medium of exchange, measuring stick and store of value. It is the value index function of fiat that leads rational crypto investors to measure their holdings in fiat. As a hardcore capitalist you should share the view that the "invisible hand" will take care of the common good, if people try to increase individual gains measured in the most widely and commonly used measuring stick, which as a matter of fact is fiat. Without thinking in fiat terms economic calculation wouldnt be possible, i.e. the beneficial effects of the invisible hand wouldnt take place.

Now I know that fiat is devilish, because it has negative effects on natural social order. But I doubt that you will end up at "freedom from government" by new tech, even if it is monetary tech in accordance with Austrian School. The demand for aggressive authority (now in the form of soft dictatorship), that most people have, is a psychological or pedagogical problem that is not easy to solve and will not go away once we are using Bitcoin, just as it was still there when we were using gold. Sure: A transition to crypto as medium of exchange would be better for us in the long term. And again the only way to reach this practically starting now is people speculating with it using fiat as value index for their economic calculations. But the old Adam within that created all this mess would still be there. People will find ways to suppress and kill each other even with sound money in their pockets or on their smartphones. I dont say you cant get rid of the old Adam. Just saying that sound money is not the way. And it is the old Adam within us that constitutes "government". If it was us against "government", "government" wouldnt exist by tomorrow.

Nxt General Discussion / Re: Price speculation
« on: September 30, 2016, 09:33:29 pm »

Nxt General Discussion / Re: Function of Ardor token
« on: September 25, 2016, 08:37:51 am »
Ardor token is your chance to forge a block. The more you have the bigger your chance to collect all childchains' fees in your forged block.

what is the reward for forging a block? more ardor?
Childchain fees.

Correct me if I'm wrong, but if you forge Ardor main chain blockchain block, you get Ardor. If you forge/bundle child chain block, you get child chain native token fees and this child chain forger/bundler needs to pay Ardor to Ardor main chain forgers for child chain block be included in Ardor main chain blockchain.
Correct. It was discussed multiple times but I could not convince people that bundlers and Ardor payments are not needed in this process. :)
And I thank God every day that you couldnt  ;D

Nxt General Discussion / Re: Price speculation
« on: September 20, 2016, 05:25:28 pm »
HODL! But not only NXT. Everybody should have some BTC and ETH, just in case. Because BTC is widely used (for buying and selling altcoins  ;D) and with ETH you never know, they have a shitload of money to survive everything and maybe all of a sudden the corporate world starts building on it.

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