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Will NXT market cap exceed LTC by end of PayExpo?  
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Author Topic: Will NXT market cap exceed LTC by end of PayExpo?  (Read 4570 times)

ShortNXT

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Will NXT market cap exceed LTC by end of PayExpo?
« on: June 05, 2014, 04:36:29 pm »

These assets are part of the WhatsNXT Prediction Market.

Each asset's price is intended to reflect the percentage odds of a given outcome's occurrence (e.g. 50 NXT = 50%).

This pair is tied to Nxt's market cap exceeding Litecoin's market cap at any point before 11:59:59 pm, June 12, 2014 (GMT), as reported by coinmarketcap.com.

If you think the odds are too high on either asset, you can effectively sell it (without owning it) by purchasing the other.

- NxtLtcY reflects the odds Nxt's market cap will exceed LTC's at some point before the deadline. (ID 7871081899413301824)
- NxtLtcN reflects the odds that it won't. (ID 2791762004650862940)

The issuer will seek to maintain inverse parity between the two assets.

Issuer will attempt to distribute the assets at prices reflecting market sentiment. Issuer commits to buy back all shares of the "correct" asset upon resolution at 100 NXT and will reserve sufficient funds to do so.

Verify WhastNXT issuer ID NXT-CETE-TJ35-3W6Q-GRMTM to avoid scammers.

Quote
NxtLtcY and NxtLtcN

Promoters
WhatsNXT and ShortNXT
What is it?
Prediction market for NXT market cap relative to LTC market cap.
How many shares to be sold?
TBD, pursuant to demand.
What price will they be sold at?
Prices reflecting market sentiment.
Nxtforum discussion
Here
Nxt account used to issue assets
NXT-CETE-TJ35-3W6Q-GRMTM
Asset ID
7871081899413301824 and 2791762004650862940
Ticker symbol
NxtLtcY and NxtLtcN

Check your local laws before participating.
« Last Edit: June 05, 2014, 04:53:28 pm by ShortNXT »
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ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #1 on: June 10, 2014, 12:26:31 pm »

The price of NxtLtcY (odds of NXT exceeding LTC at some point before the end of PayExpo) has dropped to 30 NXT (30% chance).

You can trade this outcome with Asset ID 7871081899413301824.
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Account ID: NXT-D7WC-SKR6-F2EC-7VUXL

ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #2 on: June 11, 2014, 06:52:54 pm »

With just over a day to go until expiration, the prediction market odds of NXT's market cap exceeding LTC at some point before the end of the last day of PayExpo have dropped to 10%.

Each 10-NXT NxtLtcY asset will yield a 900% return in a single day if NXT manages such a feat.
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gs02xzz

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #3 on: June 11, 2014, 06:59:55 pm »

This seems a fun game to play.
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forkedchain

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #4 on: June 11, 2014, 08:05:19 pm »

was there betting on this???  cause Id love to place one....  I for one just dont see it happening
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ShortNXT

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jl777

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #6 on: June 11, 2014, 08:26:06 pm »

was there betting on this???  cause Id love to place one....  I for one just dont see it happening
I made a small bet :)
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ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #7 on: June 11, 2014, 08:38:44 pm »

was there betting on this???  cause Id love to place one....  I for one just dont see it happening
I made a small bet :)
Heh.
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forkedchain

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #8 on: June 11, 2014, 08:45:02 pm »

The other side is trading at 98.


please explain to someone dense how this betting works?
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jl777

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #9 on: June 11, 2014, 08:58:05 pm »

was there betting on this???  cause Id love to place one....  I for one just dont see it happening
I made a small bet :)
Heh.
sorry, but I just couldnt resist the mispricing
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ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #10 on: June 11, 2014, 09:04:58 pm »

The other side is trading at 98.


please explain to someone dense how this betting works?

Each prediction is a pair of assets, one for yes, one for no. The correct one is bought back for 100 nxt, so its price represents the percentage odds of occurrence/non-occurrence.

Sent from my SM-N900T using Tapatalk

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forkedchain

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #11 on: June 11, 2014, 09:22:54 pm »

whoa... so its not just gambling, but a market to purchase odds in either direction, where the price to purchase either position is determined by the market???

is this about correct?  if so consider my mind blown
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ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #12 on: June 11, 2014, 09:27:55 pm »

whoa... so its not just gambling, but a market to purchase odds in either direction, where the price to purchase either position is determined by the market???

is this about correct?  if so consider my mind blown

Correct. Prediction market, not gambling.
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ShortNXT

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Re: Will NXT market cap exceed LTC by end of PayExpo?
« Reply #13 on: June 13, 2014, 12:35:46 pm »

Well, NXT didn't quite make it to LTC's market cap yesterday.  So this becomes the first WhatsNXT prediction market to expire.  Congrats to the big winners who predicted the outcome correctly.  Nearly all positions have been settled and paid out (those that haven't are just waiting for the asset holders to swing by and liquidate the asset; the bids are on the order book).

Next up, why not try your hand at whether NXT will exceed 0.001 BTC by year-end?
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