What is Bitcoin’s Ceiling?

Just a year ago, a post here on NXTER relayed predictions saying that Bitcoin’s value would reach or go beyond $500 by the end of 2016. True enough, it exceeded $800. This value, however, is minuscule given the fact that the cryptocurrency recently hit $16,000 per unit – a record high. The meteoric rise of Bitcoin (BTC) has also fueled massive growth in other tokens, like NXT and ARDR. Why now though? What has fueled this recent growth spurt and is Bitcoin, and the wider cryptosphere, due for a harsh correction?

NDTV indicated that the likely cause behind the surge in price is the recent announcement that CME Group Inc. and CBOE Global Markets were allowed by the main U.S. derivatives regulator to list Bitcoin futures contracts. This was seen as another step towards mainstreaming the cryptocurrency, although the rates also led to petitions for more regulations. In fact, the Nobel Prize-winning economist Joseph Stiglitz even called for Bitcoin to be outlawed. Regardless, distributed ledger technologies remain poorly understood by the average person and as a result many analysts predict Bitcoin and crypto to be a huge bubble, ready to pop at any moment.

The unfavorable view towards the cryptocurrency is understandable, considering its volatility. Just last month, Coinwire reported that the cryptocurrency breached $11,000, only for its value to drop below $10,000 just a few hours after its price surge. Nonetheless, the unpredictability of Bitcoin has not dissuaded investors from using their real-world money to purchase these virtual coins. Fortune surmises that the reason behind the continuing rise in value is largely due to increasing public awareness. The mystery surrounding it has captured the interest of many buyers, and the absence of any central regulatory body further added to its appeal.

Moreover, the increasing number of buyers caused a domino effect, which led to even more investors. It’s linked to a mindset of FOMO, or fear of missing out, with regards to trending investments. For instance, more than 100,000 people have opened new Coinbase accounts from November 22 to 24. By the end of that month, an estimated 13.1 million accounts have been created in the system.

The popularity of Bitcoin among investors lends credence to the prediction of financial adviser Tom Lee. Business Insider conveyed his forecast, stating that Bitcoin’s price will reach $25,000 within 5 years. He based this projection on Metcalfe’s Law, which estimates that the value of a network is the square of the number of users belonging to it. Lee stated that the increasing number of Bitcoin investors will also lead to an increase in the value of the cryptocurrency. He likened Bitcoin to Facebook’s growth in market value, which is now more than double the number of its users.

Still, even financial experts have made mistakes in forecasting the value of Bitcoin. Although, economist Yves Lamoreux, whose sentiments echo that of Lee’s, also pointed out the times when analysts were wrong. Tim Draper’s 2014 price forecast was mentioned as an example. Back then the analyst predicted that the cryptocurrency would have reached $10,000 by 2018, an estimation that was proven wrong recently.

The bottom line is while Bitcoin’s value and that of proven technologies like Ethereum, Litecoin, and Nxt / Ardor are looking good right now, there is no way to tell if this trend will continue in the coming months. A lot of analysts say that it’s a double-edged sword – an assumption that still remains to this day.

NXT Market Report: 10 November 2014

Welcome to this week’s market report. It was again a rather unspectacular week – NXT tried a few times to overtake DOGE but didn’t make it in the end. During the last week NXT’s market capitalization increased by 5.1% whereas Bitcoin’s gained by 10.5%. The average daily volume was about USD 40’000. Happily the number of different NXT trading pairs with a volume above USD 1’000 is back up to 7 again.

Largely as a result of the market making bot of coinomat becoming operational, the NXT Multigateway trading volume has increased significantly, which is warmly welcomed. We are now looking forward to the production servers going into operation and the Multigateway running smoothly. That should be the case within the next few days! It is time to move from centralization to decentralization!

NXT Asset Exchange has reached 50’000 trades

The NXT Asset Exchange has reached 50k trades in the last days – amazing! Once again the NXT AE shows its competitors that it is the number one! The key comparators are:

Of the 33 assets currently listed on coinmarketcap.com: 24 are traded on NXT AE, 4 on Counterparty’s AE, 3 on BitShares’ AE and 2 on MasterXchange. That’s what I call dominance.

Average daily trading volume: on the NXT AE it’s about USD 20’000, on Counterparty’s AE it’s below USD 1’000, on BitShares’ AE it’s approximately USD 5’000 and on the MasterXchange around USD 6’000.

Total capitalizations of the listed assets: USD 13’225’000 for NXT, USD 2’248’000 for Counterparty, USD 1’020’000 for BitShares and USD 11’790’000 for MasterXchange.

I think it is legitimate to say that the NXT Asset Exchange is very clearly the market leader!

What’s going on in the NXT Asset Exchange?

Coinomat: We’re not going to talk about the gain in price since the launch of the coinomat asset, except to say that it has been astronomic. Instead, today we’ll just have a quick  look at its dividends and what the future looks like for coinomat. Over the last few days the trading volume has started to increase strongly, which is warmly welcomed by all investors. With the launch of SuperNET these figures should further increase since coinomat will be an important part of SuperNET. The downside is that only 1.5% of the profits are distributed among the asset holders.

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This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 3 November 2014

Welcome to this week’s market report. We’ll start by having a look at last week’s price development: NXT decreased in price by 12.8% whereas Bitcoin declined by 7.1%. The trading volume has been stable on a low level with an average of about USD 40’000 mainly traded on Bter, hitbtc and BTC38, which is a little bit disappointing but not surprising. The week’s peak of USD 95’000 was reached on 31 October.

Nevertheless there is plenty of good news: The upcoming launch of NRS 1.4, which will include the monetary system and probably the voting system as well; the successful launch of Nxtty (which has already had a nice effect on the amount of transactions and the number of newly created accounts) and James writing code without pause in order to get SuperNET up and running as fast as possible. We therefore have some good reasons to stay positive about the development and the price of NXT!

source: coinmarketcap.com

Get published. Get paid – The first period has come to an end

October is over and the the first period’s accounts have been published. We are proud to announce a dividend of 0.024826 NXT per NXTP. The amount available for distribution was affected by the payment back of loans to apenzl of about 9’334 NXT and we therefore expect next month’s dividend to be bigger. If you’d like the opportunity of getting paid for your NXT- related news or views, go ahead and submit your contribution to nxter.org! For more information on how to do so, read our guide.

neoDICE to go into public beta within the next days

neoDICE, the fair betting game similar to the legendary satoshiDice, will be going into public beta within the next few days according to the developer, hash. The project is slightly behind schedule but is widely expected to be a huge success when released:

Mid. October:                         Beta testing starts.

Beginning of November Release of the game on the mainnet, playable via NXT client and SuperNET GUI.

Mid. November                     Release of neoDICE plugin for NXT client and SuperNET GUI.

Mid. December                      Release of the neoDICE website, allowing gameplay without NXT client.

For more information about this project read: NXT Market Report 29 September and NXT Market Report 15 September.

What’s going on in the NXT Asset Exchange?

NEMstake: after the announcement of the NEM Beta client, NEMstake saw a huge rise in price up to 45’000 NXT per stake but has now fallen back to about 38’000 NXT. For a detailed explanation of the redemption process for NEMstake asset owners on the NXT Asset Exchange, read this message on the NEMcoin forum.

In summary:

  1. using the NEM Beta client, create a real NEM address and save the address, the public key and the private key in a secure place – if you lose your private key, you lose your NEM.
  2. Send your NEMstake asset to NXT-97MX-EWKV-CGKX-DA5WH including an unencrypted message containing just the NEM account address which you created in step 1.

You will find another guide to the NEMstake redemption process in the nxtforum as well. Make sure to redeem your stake as soon as possible.

The deadline to redeem your NEMstake asset at the rate of 1 asset for 1,000,000 NEM is the 22 November – the longer you wait after that, the less NEM per NEMstake asset you will receive:

After 22 November, redemption will be possible for a further 3 months. However, during this period the amount of NEM per redeemed NEMstake will be reduced as follows.

  • during the 1st month after 22 November: 1 NEM stake = 750 000 NEM.
  • during the 2nd month after 22 November: 1 NEM stake = 500 000 NEM.
  • during the 3rd month after 22 November: 1 NEM stake = 250 000 NEM.

Once the 3 months are over, any remaining NEMstakes will not longer be redeemable.

Various possibilities as to how the unclaimed NEM would be used (including for example redistribution to NEM holders, sending to genesis, ecosystem development) are currently under discussion here.

I hope you enjoyed a good read – please leave your feedback here!

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This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 27 October 2014

Welcome to this week’s market report. It won’t be a long one since the last few days have been lacking action, as reflected in the market capitalization and the trading volume (source: coinmarketcap.com). NXT’s market capitalization decreased by 1.5% with an average daily trading volume of about USD 50’000 with a peak at USD 90’000 (24 October). During the same period, Bitcoin lost about 7% in term of market capitalization. The NXT/BTC pair is stable at around 6000 satoshis with a strong buy support at 5980 satoshis. The sell pressure has increased  slightly compared to last week – there are sell orders of approximately 400’000 NXT up to 6600 satoshis. (source: cryptocoincharts.info).

coinmarketcap 27102014source: coinmarketcap.com

What’s going on in the NXT Asset Exchange?

Nxttycoin: Mission accomplished! Nxtty has finally submitted its app to the Google Play Store. The price has already experienced a small rise to 0.14 NXT per asset on a big trading volume (see coinmarketcap.com). Their facebook page has almost 50’000 likes and the promotional work behind the scenes is excellent. An iOS as well as a desktop version of Nxtty will follow in the next few weeks! Remember: The first 100’000 users receive 2’500 Nxttycoins each so tell your friends about it!

DORCS: By buying DORCS asset you invest in the very first cryptocurrency MMO (Massively Multiplayer Online Game) called ‘Lyth’ (formerly known as Lith). Lyth will be an Emergent Trade Game on the Nxt Blockchain:

Gameplay:
Lyth gameplay will for the most part be decided by a player driven economy. The game is designed to sustain “emergent” gameplay in which everyone can be caught by surprise at the direction the game will take. Players interact in an immersive sandbox, where they can create their own paths and realities. They can harvest natural resources, use skills to create goods, offer services, and use strengths and powers to influence other players and the world around. Violence and politics are never far behind, but the economy will be the most powerful force, affecting warlords, farmers, and everyone in between.

Trade:
Game resources will be freely tradeable on an open market, allowing in demand items to find their natural prices, and letting players develop markets as needed. Create trade networks, with all associated risks and chances for arbitrage. Lith will take full advantage of the possibilities that Nxt offers. (source: nxtforum.org).

On 23 October they announced a new sell wall to raise more capital. DORCS is a long-term investment – they haven’t reached the Alpha yet. You can have a look at the latest build of the game here. For further information you can also visit their official homepage www.lythmmo.com.

I hope you enjoyed this week’s Market Report – see you next week!

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This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 20 October 2014

Welcome to this week’s market report. Although NXT experienced a rather unspectacular week, it nevertheless ended happily: We are back to #5 on coinmarketcap.com! To be honest it didn’t happen because of NXT’s strength but because our competitors have decreased more in price, especially Dogecoin which has been undergoing a small sell off.  NXT’s market capitalization is down but even more disappointing is the low trading volume. The daily average was about USD 40’000 with a peak of USD 90’000 (14 October). Despite this, Bter’s order book (scroll down) leaves a positive impression: There is a buy support of about 900’000 NXT down to 5200 satoshis whereas the selling pressure is comparatively low: 200’000 NXT up to 6400 satoshis.

coinmarketcap 20102014source: coinmarketcap.com

Project NXT Storm – what is it?

At the beginning of October a member of the nxtforum.org had the glorious idea of stress testing the NXT network. The idea quickly captivated many people and, as a result, gave rise to Project NXT Storm. The plan is to test the robustness of the NXT network by using all available features, especially the NXT Asset Exchange. That’s the reason why Project NXT Storm is being mentioned in this market report – it’s an outstanding opportunity to discover the limits of the NXT Asset Exchange – if there are any! A successful outcome will prove that the AE is ready for its next step – the first ever use of the NXT Asset Exchange by a large corporation. The plan is to repeat such a stress test after every major NXT release.

What’s going on in the NXT Asset Exchange?

MMNXT (ID: 979292558519844732): MMNXT is a market making and arbitrage fund for the NXT Asset Exchange issued by coinomat (who are also responsible for coinomat.com). To quote from coinomat’s own description of the asset:

This is an automated trading fund for NXT asset exchange. Its goal is to provide market making for most liquid AE assets. Also we strive to move most of NXT trading to NXT AE Multigateway assets, thus providing additional liquidity for NXT which should assist in keeping its price more stable. Trading will be carried out at NXT Asset Exchange and other exchanges supporting NXT.

Trading is both long and short, that is you buy lower to sell higher and you sell higher to buy back lower. The profit is converted to NXT, also when trading MGW assets profit can also be realized in corresponding crypto, and converted to NXT afterwards.

The fund will pay out 60% of its profit to the holders of the token every Friday. Initially, the bot will only be operating as a market maker for the most liquid assets on the NXT Asset Exchange. In November MMNXT plans to carry out arbitrage trading on Bter, Poloniex and Cryptsy. The first dividend pay out will take place on Friday (24 October).

NXTmovie (ID: 2240155853020376741): NXTmovie intends to write scripts for films in which they aim to educate the lay person about cryptotechnologies:

Loosely based on real life events, the NXT Film Project is an edgy cyber thriller that narrates subversive and often vicious attacks that are conducted using technology. The plot showcases cryptoplatforms and communities, how they are disruptive to established institutions, and how technology can be used with either good or evil intent.

It further aims to educate the lay person about cryptotechnologies, while also shedding light on the criminals who seek to take advantage of them. At the same time, it contextually demonstrates the technology’s efficacy and utility via the power of narrative storytelling.

A nice idea in its own right but the project is also pretty interesting to investors purely from the point of view of its ROI. NXTmovie has issued 1’000’000 NXTmovie assets – 30% were sold in an ICO with an early bird price of 1 NXT, 33% were allocated to the three core members and the remaining 37% will be sold later on the NXT Asset Exchange at a higher price (small batch quantities of 25k NXTmovie assets with a continuously increasing price). Currently, early bird assets are already trading at 1.5 NXT, an increase in price of 50%! To guarantee an early source of revenue the team behind NXTmovie is focusing on  driving as much traffic as possible to generate profit through advertising. The earnings will be distributed evenly across all asset holders.

Furthermore NXTmovie offers blockchain-based businesses the opportunity to be featured directly in the film script, for a fee. These earnings will be distributed among all assets holders as well. Last but not least we shouldn’t underrate the promotional effect for NXT which such a movie could have (assuming of course that the film script gets made into one), especially since it’s one of the main goals of this project.

I hope you enjoyed the market report as much as I did writing it. Please leave your feedback at nxtforum.org.

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 13 October 2014

Welcome to this week’s market report. To be honest, there aren’t that many new topics to write about. The last few days have been quite calm and unspectacular following the recent Bitcoin price crash. The market has recovered reasonably well since the last market report and we are now seeing the price up by 15.5% from its low, whereas during the same period NXT has lost another 2.2% in terms of market capitalization: the NXT/BTC price decreasing from 7500 satoshis to 6300. Unfortunately the trading volume hasn’t increased in line with expectations – during the week, daily volume averaged at USD 50’000 with a peak at USD 110’000 (10 October).

coinmarketcap 13102014source: coinmarketcap.com

NXT AE: the biggest decentralized Asset Exchange by far

Since its launch in Mid May, the NXT Asset Exchange has been proving its functionality day by day. 325 different assets are now listed on the exchange, of which several dozen are promising. Possible reasons for the Exchange’s popularity include the potential to earn dividends, the opportunity to acquire assets that increase in value and the ground-breaking nature of the idea itself.

The Nxt Asset Exchange is already by far the biggest one out there in the crypto world and is steadily growing; its average daily trading volume is equivalent to about USD 50’000 (source: mynxt.info). To date, the largest daily traded volume occurred on 6 September, the day the SuperNET ICO started, when an incredible 23.6m NXT worth of assets was traded, equivalent to about USD 560’000 at today’s rates. Neither the MasterXchange nor the Counterparty DEX have comparable figures.

What’s going on in the NXT Asset Exchange?

FunBot: The FunBotV1 trading bot has now been live for 2 weeks and so far has been working well. The dividends are paid exactly on time and the transparency is fine. The issuer has announced the creation of FunBotV2 within the next 6 weeks (see post #185). While FunBotV1 is a full automated trading bot which exploits arbitrage opportunities the FunBotV2 is a thinker using advanced technical analysis and therefore invests more for the long term. FunBotV2 will be tested over the next days and go live in the next 4 weeks.

Altcoinherald: Altcoinherald announced its IPO some time ago (2 September) and has already raised about 530’000 NXT for further development of their crypto news site. The asset is interesting because of the soon-to-be-paid first dividend (1 November), the qualification for which is owning the asset on October 15, 2014.

Based on this, we’re forecasting that our first dividend payment – issued every 2 weeks beginning November 1, 2014 – will roughly be around $555.00 – divided proportionally to all shareholders of record as of October 15, 2014. (source: nxtforum.org, post #69)

Calculated at today’s rates and with 530’000 sold shares that will be 0.04 NXT/share. That’s 4% per month or 48% per year – a so called dividend bonanza!

Thanks for reading and don’t forget to leave your feedback at nxtforum.org.

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 6 October 2014

 

Welcome to this week’s market report. The last seven days have been spectacular and very interesting. We’ve seen a massive decrease in the price of Bitcoin and, at the same time, the launch of a number of promising NXT projects. As usual we start the report by comparing market capitalizations. NXT has declined in price by 13.9% whereas Bitcoin has fallen by 14.6% – overall the price of NXT remains stable, which is obviously nice (NXT is probably the most stable crypto currency out there). In contrast Bitcoin’s price decline continued down to USD 290 each (source: bitcoinaverage.com). According to rumor, the market is being manipulated by the Chinese exchanges OKCoin, Huobi and BTC China. In essence, they are using trading bots to buy and sell ‘fake’ Bitcoins introduced by the exchanges themselves. This idea is especially plausible because none of the three exchanges  charge a fee for the trading itself, which makes a lot of people wonder how they can still be profitable. Read more here about Bitcoin’s price decline.

coinmarketcap 06102014source: coinmarketcap.com

Jinn Labs launches its asset using, for  the first time ever on the NXT Asset Exchange, a dutch auction

Jinn Labs, a project founded by Come-from-Beyond, Uniqueorn and wesleyh organized the first ever dutch auction on the NXT Asset Exchange for their public offering (see ANN thread). In a dutch auction the investor places a buy order at the price he’s prepared to pay for a share. At the end of the auction, bids are filled from the highest bid price down until the desired amount has been raised. The last bid order to be filled determines the price for all other participants so that everyone pays the same amount per share. To ensure fairness, the seller does not disclose in advance when he is going to place his sell order. After the auction Jinn Labs reimbursed the investors who paid a higher bid than the final 85 NXT per share.

Jinn has already been in development for several months behind the scenes and has now gone public in order to raise capital for further investments. Jinn is expected to be fully developed Q4 2015. But what, in fact, is Jinn?

Jinn is a general purpose processor based on ternary logic with hardware support for distributed computing. This project also includes the Jiniri Limited (single-node) and Jiniri Unlimited (multi-node) emulators, in addition we are creating a monetized proof-of-concept game. (quoted from jinnlabs.com)

Jinn’s asset has great potential – the token started at the IPO price of 85 NXT per share and is now trading at around 250 NXT. The token only represents a share of the profits, which is paid as a dividend on the first day of every month. The team working on Jinn is very talented and has been consistently delivering solid work ever since NXT was launched nearly a year ago. Furthermore the Jinn project is well organized with a clear way of communication and a realistic timeline.

Launch of two rating services

During the last week two new rating services have been launched.

NXTinspect

NXTinspect was founded by whalejefdiesel and chanc3r. They are offering asset reviews, due diligence on asset issuers, research work and escrow services. The IPO was sold out within a few minutes due to two big investors who bought up all the offered shares. Luckily one of those was jl777, who distributed a good chunk of his NXTinspect as SuperNET and NXTventure dividends. The proportion in which owners of SuperNET and NXTventure received NXTinspect assets was 1:16. In total 1’000’000 NXTinspect assets have been issued of which 40% will belong to the founders and 60% will be sold as IPO shares at 1 Nxt in two batches. As already stated the first tranche is sold out.

Kongzi News Service

Kongzi News Service, issued by printshop (who already manages KPS), announced its launch 4 days after that of NXTinspect.

Details regarding the nature of the KNS service and the structure of its IPO can be found here: nxtforum, post #49.

As can, starting with the opening post of that thread, the considered opinions of KNS and NXTinspect about the other’s service.

I myself do not express any opinion about the respective merits of the two services except to say that they offer a genuine choice for consumers and that is all to the good: competition drives excellence!

What’s going on in the Asset Exchange?

FunBotV1: The asset FunBotV1 represents a full automated trading bot, which exploits arbitrage opportunities on Bter, CryptsyPoloniex and SecureAE. Additionally the bot includes a market making logic on all four exchanges. The asset issuer aims at 8-10% profit per month of which 70% is distributed among FunBotV1 asset holders. The other 30% will be distributed among the holders of the asset FunBotReve

While FunBotV1 represents 1 NXT in the bankroll used by the trading bot, FunBotReve only represents the value of the upcoming dividends. The asset issuer FunBot is already working on a FunBotV2 (see post #198). This will be represented by an asset similar to FunBotV1, which will receive 70% of the profit, the other 30% to be distributed among the holders of the FunBotReve asset, which explains why, in the 2 days following the announcement, there was a 40% increase in price.

Thanks for reading the NXT Market Report – please leave your feedback in the nxtforum.org.

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

 

NXT Market Report: 29 September 2014

Welcome to this week’s market report. Another calm week for NXT – total market capitalization has declined by 6.9% whereas Bitcoin’s total value decreased by 5.1%, meaning that NXT’s price has remained almost stable. On coinmarketcap.com we are now #6, after Dogecoin, which is still performing very well after the announcement of the merged mining with Litecoin. By contrast, Peercoin (currently at #7) has been taking quite a hit – NuBits not having measured up to market expectations.

NXT’s daily trading volume during last week averaged around USD 60’000, approximately half the trading volume of the week before. I don’t expect the volume to increase strongly in the next few days since there are no imminent announcements of big projects expected.

coinmarketcap 29092014source: coinmarketcap.com

News about the Multigateway

James announced that he will shut down his development server for the Multigateway by next weekend since the user support he is still having to provide is taking up too much of his time and therefore slowing him down completing the coding for SuperNET. Fortunately the production servers’ team reported that 2 of the 3 servers are ready and they are now only waiting for their new member coinomat.  According to Frohike all 3 servers should be up and running by next weekend:

The various wallets are set up on the first two members already some time ago. The triplet is now waiting for the third one but I have trust that they will deliver it and then we can start the processes and if necessary troubleshoot the setup. In the mean time I’m investigating the wallets, ports used, setting the permissions and so on.

If all goes well, the triplet is up and running next weekend. If things go wrong and we need to troubleshoot things, we will get all the help from James and eventually others who are able to help. We need to get things up and running.

Launch of Coin Market App

Coin Market App is available in Google Play as of today and NXT is included in the first seven supported coins. Coin Market App will give details of the crypto coins’ market capitalizations, trading volumes as well as real-time news. The app is the ideal way to keep track of your favorite coins!

What’s going on in the Asset Exchange?

NeoDICE: (NxtReporting) is the fair betting game which jl777 and hash created with the knowledge purchased from Come-from-Beyond about how to process unconfirmed transactions (for more information and links about this, read the 15 September Market Report).

The entire NeoDICE betting history is stored in the NXT blockchain to ensure the game’s fairness and every day the previous day’s secret, which is used to determine the winner of a gambling round, is published. The asset won’t be offered on the Asset Exchange through jl777, instead the distribution will be as follows:

  • 5% NXTventure dividend
  • 5% superNET dividend
  • 45% to developers and maintainers
  • 40% Privatebet
  • 5% JLH

Feel free to leave your feedback in the NXT Market Report thread – have a good read!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 22 September 2014

Market Cap

Welcome to this week’s Market Report. The last few days have been fairly unspectacular, which is nice after all the recent excitement. NXT declined 19.6% in price whereas Bitcoin decreased by 15.1% meaning that NXT’s loss was relatively small and can be explained as a normal market reaction to the rise we saw 2 weeks ago. Unfortunately NXT has lost its #5 position on coinmarketcap.com, first to Dogecoin and now to Peercoin. Both Dogecoin and Peercoin got extremely pumped at a huge volume after big announcements: Dogecoin proclaimed merged mining with Litecoin and Peercoin announced the launch of NuBits

As predicted in the last market report NXT’s daily trading volume has remained steady at USD 100’000. There are now 7 trading pairs on 6 different exchanges, each with a daily trading volume of at least USD 1’000 (Multigateway included, since coinmarketcap.com finally managed to include its volume). Amazingly NXT’s Multigateway is already the second biggest exchange for NXT with about 15% of the whole volume.

coinmarketcap_22092014

Source: coinmarketcap.com

Status of the superNET ICO

Read also: superNET ICO ends

The ICO will end 1400 GMT on Tuesday and trading of the actual superNET asset will start 1400 GMT on Thursday. James‘ last update regarding the figures for the amounts raised was posted a couple of days ago, so I can’t give you the most up-to-date figure but the final total is expected to be about 5’000 BTC!

When trading starts on Thursday, a buy wall will be in place to accommodate those who have decided to disinvest; it will represent about 1% of the raised funds, the price being calculated on the basis of the net asset value of superNET’s crypto portfolio.

What’s going on in the Asset Exchange?

NXTventure: NXTventure (official thread makes private investments in promising corporations and adds value by integrating each investment into NxtServices. The month of September was an amazing one for NXTventure: The price increased by unbelievably 450% as well as NXTventure was able to announce three dividends – PrivateBet, ATOMIC and Freemarket. For 10 NXTventure you received 1 asset as dividend, which are all trading between 60 and 70 NXT each.

sharkfund0: These are the current holdings:

Coinomat 280’600 1’000’000 28.06% 9.39 9.38 2’632’028
Coinomat1 520’000 3’000’000 17.33% 8.9 7.5 3’900’000
InstantDEX 100’000 1’000’000 10.00% 53 48 4’800’000
jl777hodl 1’214’205 10’000’000 12.14% 3.2299997 3 3’642’615
NEMstake 19 1’000 1.90% 28’747 25’754 489’326
NXTprivacy 200’000 1’000’000 20.00% 43.999 43 8’600’000
NXTventure 10’000 1’000’000 1.00% 69.9 58.0001001 580’001.001
NXT 118’193.61414966 -> NXT total 24762162

11% BTCD $847K
8.5% BBR $48K
.45% XCP $25K
10% BTM $23K

The selected assets and crypto currencies are all long term holdings and extremely promising. You are basically investing in a hedge fund with a long term strategy and an active fund manager who is able to add value. At its launch each asset was valued at 10’000 NXT – they are now at 40’000 NXT.

I hope you enjoyed it and am already looking forward to next week’s report!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 15 September 2014

Market Cap

Welcome to this week’s market report. Reviewing what’s been happening in the last few days is a real pleasure. At the time of writing NXT may have gained ‘only’ 1% in price but during the course of the week (12 September) NXT was valued at USD 43.2m and therefore reached its highest price since the beginning of August.

This increase in price is one consequence of the superNET ICO.

A second effect of the “ICO”, and probably even more important, was the significant increase in the trading volume with a peak at USD 250’000. Since the superNET ICO will last for at least another week we can expect a steady volume at around USD 100’000 – 150’000 for the next week and will probably see another rise in value.

In my last market report I pointed out the increasing ascendancy of NXT and this fact hasn’t changed. There are 9 NXT  trading pairs on 7 different exchanges with a daily trading volume of more than USD 1’000. If we also take the Multigateway into consideration, the number of exchanges with a decently filled order book rises to 8!

coinmarketcap 14092014
Source: coinmarketcap.com

Status of the superNET ICO

The superNET ICO had a very successful start – within 2 hours jl777 raised funds valued at USD 1m! Since then, the fund raising has slowed down quite a bit but the funds are still flowing in steadily. A number of investors have indicated that they will be buying (more) tokens towards the end of the ICO period in the expectation of higher Nxt prices: because the token is priced in BTC, the Nxt price of the token on the Asset Exchange decreases with a rising NXT price. As of 13 September 14:00:01 GMT jl777 sold 438’214 tokens and raised the following amounts:

Also read: ON TOP OF NXT: Meet James

  • 1’039.51 BTC
  • 35’941’407.98 NXT (@ 0.000079 BTC/NXT)
  • 18’256.01 BTCD (@0.0132 BTC/BTCD)
  • 621’425.55 CNY (@ 2907.5 BTC/CNY)
  • 5’403 VIA (@ 0.00035055 BTC/VIA)

Converted into BTC, as at the exchange rates for 14 September 2014, the above figures produce a total of 4335.47 Bitcoins! 

What is CoinEvolve.com?

We are happy to welcome CoinEvolve.com to the Nxt Community. CoinEvolve.com develops projects for crypto currencies and has already finished two: CryptoHire.com and CoinGigs.com. You can get more information about these projects in their announcement thread on nxtforum.org.

CoinEvolve.com announced their IPO on the NXT Asset Exchange on 4 September 2014.  Initially there wasn’t really a lot of interest in their IPO asset EVOLVE since the offered product is new to the community and there was no immediate expectation of significant earning potential, at least in the short term. Then, on 13 September jl777 announced a partnership between SuperNET and CoinEvolve.com.

This announcement resulted in panic buying on the Asset Exchange – within 6 hours the offered IPO shares at 0.6 NXT were sold out and the market price sky rocketed to 3 NXT each. CoinEvolve.com decided to issue a second asset called EVOLVE2 on the same basis as the first one. This time the asset was sold out within 1.5 hours! More evidence of the so called ‘jl777 effect’!

What’s going on in the Asset Exchange?

Privatebet: Privatebet is also one of jl777’s famous assets. jl777 bought some know-how from Come-from-Beyond for 200k NXT regarding a once popular gambling game called SatoshiDice. The owner earned millions with it but his service lost popularity because he had to switch from unconfirmed to confirmed transactions. In effect, jl777 bought the solution to how this service could be run on top of Nxt without being restricted to only accepting confirmed transactions. After jl777 won the auction, the price of Privatbet increased multiple times up to 88.83 NXT and is now listed at 84.99 NXT.

Nxttycoin: I have written about Nxttycoin in a previous market report. Nxttycoin has so far proved to be an outstanding investment possibility in the Asset Exchange: not only has its increase in value been remarkable, Nxttycoin holders also receive 5% interest on their coins at the end of every month.

You may have seen seen that Nxttycoin recently dropped several places on coinmarketcap (CMC). CMC has decided, for the purposes of calculating market capitalizations, only to count the coin supply actually tradeable on the market which, in the case of Nxttycoins, is 200M rather than the 1BN total supply on which the market cap was previously calculated. This of course means that Nxttycoin’s market cap is now 2o% of what it was previously.

The remaining 800M Nxttycoins are held in escrow by the Nxttycoin Foundation to cover the monthly ‘interest’ of 5% and to meet the developer’s commitment to distribute Nxttycoins among the first 100’000 users of the Nxtty messaging service.

Also read: Nxtty – crypto messaging for the masses

The launch of the Nxtty messenger service has been postponed several times now in order to take into account all the feedback  regarding possible improvements. The design of the application has been upgraded and the developer is planning to include a wallet for Nxttycoin in the application itself. The purpose of the wallet is twofold: to make in-app tipping a reality whilst at the same time introducing the user base to crypto currencies, which I find an amazing approach. We are looking forward to the final launch of the app and to its installation on our mobile devices.

That’s it for this week’s market report; I hope you enjoyed it!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 8 September 2014

Market Cap

Welcome to this week’s market report. First of all I would like to apologize for the missing report (1 September), there were just too many things going on. I hope that this won’t ever happen again! But now back to the actual topic: The last two weeks have been amazingly interesting for NXT, which is reflected in its price. NXT has gained 28.1% in value since the last market report at an average daily trading volume of about USD 70’000. The reason for this increase is definitely the launch of superNET by jl777. 

NXT is increasingly in the ascendancy, with trading now taking place on several different exchanges – at the time of writing there are six different exchanges with a daily NXT trading volume over USD 1’000!

coinmarketcap 07092014Source: coinmarketcap.com

The launch of SuperNET

There is already an existing article about the SuperNET, so there’s no need for me to explain it again here. I just want to make you aware of this huge investment opportunity, which in my opinion you shouldn’t miss. Imagine the effect on NXT of every other crypto currency in the SuperNET being able to use its features. Think about the consequences of a fast expanding user base. Consider the fact that the altcoins which are included in the SuperNET will be able to compete effectively with Bitcoin and fiat.

What’s going on in the Asset Exchange?

Fuzon: whale, the founder of Fuzon, has decided to close his fund and instead concentrate his attention on working with  jl777 on SuperNET. At the time of writing you have 2 options. The first is to sell your assets at a fixed price – whale has set up a buy order at 70 NXT, expiring 7pm Monday, 8 September 2014 Coordinated Universal Time (UTC) . The other option, which I personally prefer, is that whale sends you the assets of the fund according to the amount of shares you hold. Have a look at the Fuzon thread for further information.

Coinomat1: Coinomat1 represents coinomat.com. With coinomat you are able to transfer NXT directly to your credit card as well as convert crypto currencies into other crypto currencies. The Coinomat IPO, which finished recently, raised 7m NXT. The offer price was 2 NXT per share. The assets currently have a value of about 4.5 NXT each! Coinomat stands out due to its support of NXT as well as the weekly dividend payments it makes. Have a look at this site for information about coinomat’s revenues.

That’s it for another week. I’m already looking forward to writing the next Market Report!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

Nxt Market Report: 25 August 2014

Market Cap

Welcome to this week’s market report. It’s been another interesting week and we have plenty to write about. We start by having our usual look at the current market capitalizations. Since the last market report NXT has decreased in price by 6.5%. Additionally the trading volume, according to coinmarketcap, has been on a downtrend – it reached its high at about USD 100’000 (21 August) before shrinking to a daily average of about USD 40’000 during the last few days. The sharp fall in trading volume is explained by Bter’s hack last week as a result of which traders don’t trust Bter anymore and have either switched to a different exchange or to the Multigateway (which has experienced a considerable uptake in its use as a result of the hack). Moreover, Bter announced it would be charging a fee of 3% on all NXT withdrawals, which is understandable since Bter is still missing 4.5m NXT. There’s more detail regarding this story below. 

coinmarketcap 240814Source: coinmarketcap.com

UPDATE: Hack of Bter’s main account

A week ago Bter was still missing 8.3m NXT and even though it was an internal fault of the exchange, the NXT community nevertheless assisted Bter in any way it could, see this thread to read the whole discussion. Initially, as mentioned above, Bter announced an increased NXT withdrawal fee of 3%. This increase was intended not only to fill the 8.3m NXT hole but also to prevent a bank run! A number of different whales (users with a big stake in NXT) came up with proposals to smoothly restore the ‘old’ Bter, as a result of which the following agreement has been made: Bter is to provide a year of free NXT trading on its exchange in return for a loan of 2m NXT, enabling Bter to reduce the withdrawal fee to a  more reasonable 1%, albeit this is still double the old rate.

In another major development, Dom P, a well-known member at nxtforum.org, started a hunt for Bter’s hacker, which has already been successful: another chunk of the missing money has been recovered, some 3.8m NXT! Good news undoubtedly but this incident has clearly shown the downsides of centralized exchanges and the advantages in trading instead with the Multigateway.

Teleport: A new attempt to achieve privacy

Teleport is one of the many projects jl777 is working on. The goal is to make transactions off the blockchain so nobody is able to identify the user behind it. There are already different approaches by competitors like Darkcoin or Monero but jl777’s Teleport is a completely new one. Here’s how jl777 explains it:


Teleport is a different approach to privacy that seeks to use one of the very features of cryptocurrency networks that limit anonymity under normal circumstances: transaction linkage. Teleport occurs off the blockchain but is verified using the blockchain, utilising the benefits of a public record without suffering its drawbacks.
Teleport uses ‘telepods’ – packages of information containing everything required to make a transaction – to transfer funds securely and outside of the blockchain to the intended recipient.

jl777 is also core developer of BitcoinDark, with which he aims to make Teleport a reality. He explains it thus:

“Nxt Inside” is something I am reaching out to other coins to do. Each new coin with Nxt Inside is a totally new community that instantly becomes NXT users. Their coin gets the advantage of all the NXT 2.0 features, NXT gets more nodes and users for AE, Marketplace, InstantDEX, etc. The first step is to get the coin traded in MGW, then there is a direct reason for them to want reskinned NXT GUI. Maybe they strip out everything but the AE for their coin, or maybe they keep all of NXT. Doesn’t matter, it is all good as NXT is helping them by being a platform.

Now people are hesitant to be the first, so I make BTCD do this as example and then other coins will copy, especially if BTCD does well.

Advertised as “Nxt inside” jl777 aims to create a network of different coins using NXT as platform. This is huge since NXT will get lots of new users as well as publicity (also have a look at BitcoinDark’s price chart). Teleport is included in jl777’s asset NXTprivacy, something to consider investing in if you would like to be part of this story.

What’s going on in the Asset Exchange?

InstantDEX: InstantDEX is an asset managed by – who could it be? – jl777. The primary aim of InstantDEX is to offer realtime trading of NXT as well as Instant Transactions. In addition, InstantDEX will be a piece of the puzzle for Teleport, which is no doubt why it has experienced a doubling in price over the last week.

Nxttycoin: This coin is the official crypto currency of the Nxt Mobile Applications Company (NMAC), click this link to have a look at the announcement thread. The holders of Nxttycoins are understood to be the owners of NMAC. Nxttycoin is already listed on coinmarketcap and has an amazingly big community for an application which has not even launched yet (Facebook, Twitter). Over the last few weeks Nxttycoin’s value has increased by over 100%! As a bonus Nxttycoin has a reward program: on the last day of each month you receive an amount equalling 5% of your current holdings (Example: You hold 100’000 Nxttycoins. On the 31st of August you receive a reward of 5’000 Nxttycoins). The official launch date of the app is the 26 August 2014.

That’s it for the NXT market report this week; hope you enjoyed it!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

Nxt Market Report: 18 August 2014

Market Cap

Welcome to this week’s market report. We start by having a look at the current market capitalizations. Since the last market report NXT has decreased in price by 14.1%. The trading volume, much bigger than we have seen in the past few weeks,  reached a peak of USD 200’000 (12 August) but after the 15 August, when the popular NXT exchange Bter.com got hacked, the volume drastically decreased, according to coinmarketcap.com (in which the Multigateway trading volume is NOT currently included). You can see the transaction history of the hack and subsequent partial repayment here: Bter’s NXT account. More information about this incident below. 

coinmarketcap 17082014Source: coinmarketcap.com

Hack of Bter’s main account

As already mentioned Bter’s main NXT account was hacked on the 15th August. You can see part of the negotiation in the NXT blockchain. In Bter’s last update (17 August) they confirm the receipt so far of 43m Nxt and that they are working to recover the 8m Nxt which is still missing. Surprisingly this incident didn’t affect the NXT price in a big way – at the time of writing, the market price at Multigateway is around 6700 satoshis, even higher than before the hack. More importantly, the end result of all this doesn’t include a hacker’s account with 51m NXT in it and the continuing downward pressure on the NXT price which that would have inevitably meant.

What’s going on in the Asset Exchange?

MGW: The asset representing the Multigateway has seen a huge rise over the past few days.  The price increased from around 4 NXT per share to more than 10 NXT! An explanation for this price rocket is definitely Bter’s hack, which shows the downsides of centralized exchanges. As a second result of the hack the volume traded on the Multigateway increased a lot – in the last 30 days 8’354’746 NXT were traded, 1’820’136 NXT in just the last 24 hours!

Fuzon: A fund which holds crypto currencies as long-term investments. The fund is managed by whale who, although still quite new to the Nxt community, is well known in the Bitcoin as well as the Ripple communities. More information about the offering can be found in the announcement thread. Note that the asset is already being traded on Poloniex. For live updates monitor fuzon’s twitter account where you will find details about new investments.

That’s it for another week! We are looking forward to your feedback and suggestions!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 11 August 2014

Market Cap

Welcome to my second market report. First, let’s have a look at today’s market capitalizations. Since the last report Nxt has decreased in price by 14.35% on a steady volume of around USD 100’000. In the past few hours the volume reached a peak of USD 170’000 – a possible explanation is the release of the NRS v1.2.3 in which the Digital Goods Store is included. We are looking forward to block 213’000 when the release is scheduled to take place!

coinmarketcap 110814Source: coinmarketcap.com

Lee’s resignation from TXTCoinsNow

In my last market report I wrote about the outstanding progress being made by TXTCoinsNow . Unfortunately, since then (on 4th August), Lee Gibson Grant had to announce his termination of service with TXTCoinsNow – see the full announcement here. It became apparent that Lee had issued the TXTCoinsNow asset without the prior knowledge or approval of TXTCoinsNow’s CEO Thomas Mahoney and therefore the asset did not in fact constitute ownership of any share of the company. Furthermore the capital raised through the asset issuance was mainly used by Lee to promote Nxt at conferences or similiar events and only a small amount was paid to Thomas Mahoney and TXTCoinsNow. Notwithstanding this unfortunate incident Lee deserves a lot of praise for his energy, enterprise and commitment to NXT and, looking to the future, I am sure that having learned an important lesson, Lee will continue making a valuable contribution to the ongoing development and widespread adoption of NXT.

For an update on some of the latest developments in NXT as well as an interview with Thomas Mahoney (starting at 9:30 mins) watch the NXT Community & Development Update #16. 

 

Troubles at bter followed by a price drop

Last Saturday, (9th August) Bter had issues with its order book. Different people reported that there weren’t any buy orders displayed or even that there were empty order books on both sides. As a consequence the trading moved from Bter especially to Cryptsy with a hit in price down to about 6000 satoshis. This was probably the result of would-be-Bter sellers who switched to Cryptsy and other exchanges with far lower trading volume. As soon as Bter was back to running normally the price corrected but not as much as on the other exchanges. The net result was a hit in price of 6 to 7%.

What’s going on in the Asset Exchange?

Coinomat1: The second asset of coinomat is still paying its weekly dividend as well as continuously increasing their average daily revenue of transactions fees. Please note that yesterday (10th August) sharkfund0, an investment fund managed by jl777, invested over 520k Nxt in this asset. You can follow sharkfund0’s investments here.

MPFiatGate: On the 26th of July 2014, the MPFiatGate asset was issued – see their announcement thread for all details. The IPO represents 10% of the company’s net profit, therefore 10% of the monthly net profit will be distributed among the investors. The dividends are paid at the end of the month – the July dividend was 8.3% which equals a ROI of 100%!

That’s it for another week! We are looking forward to your feedback and suggestions!

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report: 29 July 2014

Market Cap

Welcome to today’s market report. My nxtforum.org name is KarlKarlsson and I will be writing these reports weekly. I have been working full time in the financial sector in Switzerland for some years now as a market analyst. I started watching the crypto markets in late 2013, found NXT in January and have since made it the particular focus of my attention.

coinmarketcap 29714 Source: coinmarketcap.com

400K sell walls eaten

After the new highs at the beginning of June with huge volumes being traded on all exchanges (up to 2m USD) the market has now calmed down a lot.

Despite some very interesting progress being made, especially the launch of jl777hodl1 on Poloniex and the launch of the Multigateway on the maninnet2, the consequent price rise that might have been expected never materialised, rather we have been seeing a steady decrease. Possible reasons include the scam suffered by kLee (following which the price of Nxt dropped to a low of around 5000 satoshis) and the hype produced by different people in connection with PayExpo, including John from Cointropolis.

What’s also interesting is the seeming inexplicable low trading volume over the last 2 weeks or so. Hopefully, however, the market will be inspired by the upcoming release of NRS Version 1.2 and in particular by the Digital Goods Store which is to be included in it.

In the last few days big sell walls – around 400k Nxt per order – suddenly appeared and were just as quickly snapped up by equally large buy orders. This happened once a day for about three days in a row. We can only speculate about the significance of these trades. There are rumors some whale is currently in the process of dumping all his Nxt.

What do you think?

Where the money was made

I want to mention two assets which have been in the spotlight over the past few days.

jl777hodl is a long term investment asset which is designed to include portions of ‘almost all’ the assets issued by jl777; it currently holds more than 20 of them.  jl777hodl has recently been launched on the Poloniex exchange. A huge step forward if we think about the advantage this offers us: a gateway to the Asset Exchange without having to buy Nxt! As a result the price of jl777hodl has already more than doubled.

Secondly I want to throw a look at TXTCoinNowThis is a unique payment system based on Nxt technology, which allows you to transfer money directly between mobile devices (also old school mobile phones), online as well as offline. On 24th July, Lee’s asset paid out its second reward: 3.06 Nxt per share which was approximately 8.1% of the asset price on that day. Furthermore TXTCoinNow’s asset price increased by around 100% in July.

Any questions, suggestions, improvements? Give us your feedback!

Footnotes:

1. For more information, visit: http://www.nxtreporting.com/ or https://trade.secureae.com/#6932037131189568014

2. In order to use Multigateway, you need the Multigateway Lite Extension in your Nxt Client. Currently, the software is in beta stage. For more information, visit: http://multigateway.com/

Disclaimer: The author is a TXTCoinNow investor. 

This market report is for general information and news purposes only. It does not take into account the reader’s personal circumstances, objectives or attitude towards risk. It is not (and is not intended to be) any form of advice, recommendation, representation, or endorsement by the author or the web site owner and should not be relied upon when making (or refraining from making) any investment decision.

NXT Market Report 150514

By lightspeed.

Nxt marked report

May 15th 2014: 14:00 UTC – Interim Report.

Battering Ram Round 3

**************************************************************************

Current market depth (BTER):

Bids: 1.3 Million NXT
Asks: 0.65 Million NXT

Source: Bitcoinwisdom.

Reach on BTER:

10,000 NXT = 7598 Satoshis
50,000 NXT = 7598
100,000 NXT = 7599
200,000 NXT = 7850
500,000 NXT = 8000

Today’s 500,000 cashout does not move the price significantly.

After a fairly brisk couple of days with moments of very high volume trading not seen for a while, we’ve bounced off the 7500 battle line a couple of times and recoiled back down to about 6900 as expected. So far, there have effectively been 2 large battering rams deployed – one during late Friday trading which briefly wiped the order book out up to 8000 Satoshis and then another rally during Tuesday / Wednesday which again ran out of steam at 7500.

However, ground refuelling appears to be complete and we’re back on the runway ready for another go at it.

This time, there is some cause for cautious optimism that the buyers might make it through the 7500-8000 resistance levels as the market is looking slightly more in their favour:

[1] – notice today’s market depth figures. For the first time, there is enough buy liquidity on the books to allow major cashouts while only moving the price barely 5 satoshis. Despite this there have been as yet no takers during the preparation of today’s commentary

[2] – we’re starting from a slightly higher level than the last attempts on Friday and Monday

[3] – sellers appear to have had some of the stuffing knocked out of them during the last 3 days and have pulled back slightly. Only 630,000 is left on the order book  below 8000. This is borne out by moving average convergeance indications which show that sentiment towards the downside is slowing and upside momentum is spooling up its engines.

In addition to market technicals, believe it or not there may have been a few green lights given by the stars:

[4] – the timing for this (potential) rally could not be better. NXT has arrived at the 7500 coalface just as the atlantic sunrise appears over the New York horizon. This is always a good time of the day for NXT. Panicky US traders like to go straight from their beds to their PC’s to check if precious holdings have withered and dump the remaining payload to mitigate any overnight damage. The discovery that the plants are alive and well generally propels the “ham & eggs” to a higher priority peg than any late profit taking.

[5] – there is starting to be a similar turnaround in sentiment for the Bitcoin landscape. Resistance has repeatedly held for the last few weeks and consideration is being given to a new breakout over June / July. This is very early days and things can go either way, but often negative sentiment in the bitcoin space can kill off any upwards movement amongst the alts

If in fact if today’s cautious optimism turns out to be justified, the next question will be what kind of rally is this ? To answer this, we can consider 3 general types of rally in the crypto-alts market.

a) – feverish price changes having little or no basis in the currency fundamentals and based largely on an increase in media buzz around the coin (often referred to colloquially as “pump and dumps”)

b) – temporary price changes based on fundamentals, such as new wallets, interest from merchants or new technological features. There is an initial “spike” in price followed by a slow decay thereafter, often right back down to the starting level

c) – long term valuation revisions which persist well past their point of initiation

So far, since January, NXT has experienced mainly type (b) price revisions. These can be easily correlated to various developmental phases in the history of the NXT network or technology features. Type c) has remained largely elusive, however the market has now revisited the 7000 level enough times that we might begin to consider the possibility. That makes the next few weeks of price evolution probably the most important in the history of the asset.

Top up your teapots and refill your cheese and olive bowls for round 3 !

Donations to lightspeed / Nxt Market Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
https://nextcoin.org/index.php?action=post;quote=43934;topic=4467.90

NXT Market Report 120514

May 12th 2014: 22:00 UTC – by lightspeed

Interim Report

Battle Lines Drawn @ 7500

**************************************************************************

Current market depth (BTER):

Bids: 2.4 Million NXT
Asks: 0.6 Million NXT

Source: Bitcoinwisdom. (NOTE: Altcoincharts and BCW do not agree at the moment, however the latter source appears unserviceable for NXT market depth)

Reach on BTER:

10,000 NXT = 7290 Satoshis
50,000 NXT = 7499
100,000 NXT = 7500
200,000 NXT = 7500
500,000 NXT = 8000

This evening’s 500,000 cashout takes us to 6725.

Prognosis: We appear to have reached the end of the “cool-off” period and the order book is bubbling again. The last 24 hours has seen NXT form the 3rd largest market on BTER after BTC and Doge with a trading volume of approximately 140 BTC over the day.

It’s a game of minnows and whales with little in between, however the whales are coming from both directions as today’s market depth shows. Despite the price rise since the last report we now have the half million buy available on the order book, so once again large holders are availing themselves of the new found liquidity in the market.

Battle lines appear to be drawn around the 7500 to 8000 Satoshi region and if the market manages to get to that level with sufficient liquidity then we may see some interesting action for a while.

Moving averages and their derivative indicators are still completing their bearish cycles with the shorter term ones starting to diverge gently to the upside. So what is suggested is:

[1] – a gentle rise to possibly 7400 or 7500

[2] – either a bounce-off back to 7000+ or a steady high volume exchange starting around 7500

8000 is still well over the horizon since it’s the other side of the 7500 battleground which may be bloody. Of course if sell walls are pulled then we could be spared the grey hairs, but that will only happen if the market gains confidence and possibly depends more on product fundamentals and media perception than charts.

As always, health warnings apply and with the small spreads available right now, attempts at accumulation are not recommended for the faint of heart or pocket, however some tuna sandwiches and your beverage of choice may enhance the spectacle.

Happy trading !

Postscript: There is desert today. Not directly related to NXT, however Bitcoin is the reserve currency in which all other alts are traded so I trust readers will agree that what’s significant for Bitcoin is significant for everyone else 

PPS: As background, long range convergeance-divergeance rate charts for Bitcoin are beginning to cross over with the 3-day having just done so for the first time since December. The very longest and most unambiguous is projected to turn around during June.

Donations to lightspeed / Nxt Market Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
https://nextcoin.org/index.php/topic,4467.msg43878.html#msg43878

NXT Market Report 100414

May 10th 2014: 12:00 UTC –

Interim Report.

Cool Off Period (Hold your fire)

**************************************************************************

Current market depth (BTER):

Bids: 1.4 Million NXT
Asks: 0.5 Million NXT

Source: Bitcoinwisdom

Current market depth (Cryptsy):

Bids: 0.19 Million NXT
Asks: 0.035 Million NXT

Source: cryptocoincharts

Reach on BTER at the moment:

10,000 NXT = 6998 Satoshis
50,000 NXT = 7176
100,000 NXT = 7192
200,000 NXT = 7590 (4998)
500,000 NXT = Not available

This evening’s 500,000 cashout takes us to 6500.

Prognosis: We are in a cool-off period in the uptrend. This may last between a few hours to a couple of days during which indications suggest that we might settle in the 6000 to 7000 satoshi range for a rest. If profit taking by NxT speculators is excessive we may retest the 5000 resistance at the odd candle bottom. The 30 minute MACD (which for NXT currently has between a 6 and 12 hour cycle) just pushed slightly wider to the downside on an already divergent trend (to the downside) which suggests an incoming correction.

However, with NXT being a very slow and low liquidity market, it’s unlikely that the correction will have enough of a spread to present opportunities for accumulation to those other than the most experienced traders (That means more experienced than your current market commentator).

4 Hour Chart (Each candle is 4 hours wide)

Convergeance-divergeance moving average indicators agree that we may be not heading up as fast. At the worst case, a correction is suggested but like the high cirrus clouds warning of a distant warm front, it may be a few hours away:

The correction may be anywhere between a slowing of the uptrend to a temporary down trend (expected) before stabilising possible Sunday or Monday.

4hr MACD Histogram

HEALTH WARNING
lightspeed is an amateur trader –  the purpose of this commentary is to generate discourse with what I’ve learned so far about NXT and trading to other “beginners”  If your a “pro” just make sure you take your own advice and not mine !!

Donations to lightspeed / Nxt Market Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
https://nextcoin.org/index.php/topic,4467.msg43798.html#msg43798
+ nxtforum.org: https://nxtforum.org/trading-exchanges/nxt-market-report/msg18097/

Nxt Market Report 280414

By lightspeed

April 28th 2014: 18:00 UTC
“I’M A STAKEHOLDER GET ME OUT OF HERE” (BULLISH VERSION)
******************************************************************************
Just a brief update to draw attention to what looks like being a bit of a turnaround in the steady bleed on the markets.

Current market depth (BTER):

Bids: 0.296 Million NXT
Asks: 0.242 Million NXT

Reach on BTER at the moment: (Averages in brackets)

10,000 NXT = 4900 Satoshis
50,000 NXT = 5295
100,000 NXT = 5480
200,000 NXT = 5590
500,000 NXT = Not available

Today’s 500.000 cashout would take us to 4217 Satoshis, a drop of only 200 Sats at the time of writing.

******************************************************************************

“I’M A STAKEHOLDER
GET ME OUT OF HERE”

During the last few days, despite the favourable fundamentals of this market at the moment, we’ve seen a significant number of big 5 and 6-figure cashouts.

The question arises of why ? If there’s so much good news and activity going around, why is there so much cashing out going on and of such large amounts ? Who would sell a quarter of a million NxT in a single sale at rock bottom prices when we’re days away from new technology rollouts and major media coverage ?

The answer lies in the availability of market liquidity.

To most of us, the phenomenon of rich NxT stakeholders is spectator sport only.  On the face of it, it may seem an enviable position to be into one of those 7 figure balances where your calculator tells you you’re sitting on a small fortune worth x-hundred’s of Bitcoin. However, try realising the amount on the display panel and that trip on Richard Branson’s spaceplane suddenly fades back into dreamland.

Unfortunately your calculator is blissfully ignorant of the ‘real world’ and mistakenly assumes a 100% liquid market. It doesn’t need buyers and can cashout your full stash at the price of the last trade. On the other hand, you do and cannot.

Market liquidity is gold dust to a large holder trying to realise their holdings. As the price rises, liquidity becomes more sparse. A bit like climbing a mountain and breathing the rarefied air near the summit. There’s simply less of it. What that means is that anyone waiting for the price to rise before cashing out will be constantly disappointed because they can’t have both – price and liquidity.

This must have become a frustrating process for some stakeholders over the last few months. They haven’t “crashed the market” trying to exit as so many predicted would happen early on in NxT’s existence. The reason for that is in no small part due to the exciting ongoing development work that’s being done in the currency. At the same time, they would have to crash the price a little bit if they wanted to realise a 6 figure sum when the market is at its more elevated cruising levels. It appears that this is not an attractive option for NxT stakeholders – at least not as much as being able to realise the amount of Bitcoin that their calculator told them they were “due”, even if the price is low.

However, during the last week or so, 2 things have converged to give them a break and at the same time possibly encourage a new round of healthy distribution of the currency:

[1] – the price has dropped to a level where there is substantial liquidity available to support large cashouts

[2] – we are entering a phase of “bullish” fundamentals that may be starting to feed that liquidity more sustainably

The “bullish fundamentals” amount to increasing good media coverage in the cryptocurrency blogs, forums and press due to the imminent launch of the NxT asset exchange as well as new 3rd party commercial initiatives being announced and alluded which capitalise on the new blockchain features.

Some large holders therefore, could be slightly more interested in liquidity than price which may explain much of the recent selling spree. Have a look at the 500,000 cashout reach in today’s market depth statistics – a sale of 500,000 NxT, (0.05% of the entire NxT money supply) only results in a 200 Satoshi price change. So finally, a large holder can actually realise what their calculator told them they owned without having to destroy the order book and the price with it. This is a very enticing prospect for them.

It is also reassuring for us “market-minions” (apologies to readers who may actually be the subject of todays report) because it shows that there is a price at which large amounts of liquidity become available. Over time, as distribution improves and assuming continued  development of fundamentals, this ‘threshold’ price should increase. It also shows that NxT’s little distribution “problem” may not be a problem at all and may actually be quite containable, albeit it will take a while for propagation to occur.

BUT…THERE’S A LIMIT

Once this ‘munching ground’ level was reached, 24 hour volume on BTER more than doubled, reaching a peak of about 1.5 Million NxT on Friday 25th April. What’s interesting now though is that suddenly, big sells appear to have slowed if not stopped altogether late this afternoon (Mon 28th). For the last couple of hours, Market Report has been watching 200,000 NXT’s worth of buy order at 4660 attract about as much interest as a glass of sour milk. Only this morning that would have been gobbled within 10 minutes. Furthermore, trading analysis tools now report the 500,000 buy-in as “out of order book”.

These anecdotal observations appear to agree with moving average analysis – the 12 hour MACD histogram today put in its first green block since April 20th, the 4 Hour pushed wide again to the upside after threatening to crossover in nosedive fashion yesterday. The 1 hour crossed decisively over in the last couple of hours, also to the upside.

What does this tell us about the “big holders” (at least the short-term speculative ones) and the “will they dump on us” questions ? The past 48 hours of activity have revealed 3 potential clues with regards to ‘whale’ trading tactics  in this market:

[1] – there is a ‘base munching level” (BML) at which they will generally sell in the absence of any background “excitement”. As long as fundamentals are reasonably buoyant, they would rather cash out at high liquidity level than a high price level (where they have to push the price down) because they want to carry their trade out at market price, not below

[2] – if any “background excitement” does appear, they will cease munching and allow the price to rise and liquidity to build, possibly setting in a new high for the ‘munching level”

[3] – the longer this cycle repeats, the more their ‘munching’ ability is diminished. There are 2 factors driving this:

a) – progressively depleted funds due to short term speculative investors realising their gains
b) – for those that remain, increasing confidence in the asset and therefore propensity to hold long term

So we may have seen a bottom for now at precisely 4000 Satoshis this afternoon. From here, all else being equal, favourable media coverage is only going to slowly increase towards the AE launch date. (Of course “all else” is never equal and traders should always be on their guard and inform themselves as fully as possible).

In the meantime, lets see how fresh that order book gets in the next 48 hours.

TODAY’S SPECIAL HEALTH WARNING

Although today’s report is fairly bullish, please always be careful, stay as informed as you can and ultimately listen to your own instincts. NxT Market Report presents one view as a stimulous for thought and discussion. There are always valid alternative views that can be considered. According to current market depth, the price looks buyable at below 5000 Satoshis but NEVER throw money at markets in excitement whatever the price and only trade what you can afford to loose since cryptocurrency markets are inherently volatile and can turnaround quickly.

Also bear in mind – investment vehicles are not democracies but this works both ways. It means you can have just as much fun being part of the NxT project and watching / participating in its evolution with a stake of 1000 NxT as you can with 100,000 or 1 million.

Following those simple rules will ensure you generally experience..

…Happy trading !

Donations to lightspeed / Nxt Market Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
https://nextcoin.org/index.php/topic,4467.msg43490.html#msg43490

 

Nxt Market Report 220414

By lightspeed

Current market depth (BTER):

Bids: 0.29 Million NXT
Asks: 0.24 Million NXT

Prognosis: April’s price profile has continued its slow bleed and we may now re-test the mid-march low of 4100. The month’s trading so far has been characterised by many small trades interspersed with some very large buy-ins which, in a few cases, moved the price a full 500 NxT in a single trade. In the absence of any other news, the current trend would be expected to continue, however, it’s the ‘any other news’ bit that will form the theme of this report.

Reach on BTER at the moment: (Averages in brackets)

10,000 NXT = 4800 (4799) Satoshis
50,000 NXT = 4900 (4877)
100,000 NXT = 4900 (4888)
200,000 NXT = 4897 (4998)
500,000 NXT = 5000 (4958)

Meanwhile, a 500,000 cashout right now would take us straight to 3000. So good liquidity on the buy side (there is currently someone waiting to get 255,000 offloaded @ 5000 Satoshis  ) but not so great if your checking out.

*************************************************************************

ENGINEERS vs ECONOMISTS
– and BLOCK 76000

Before reading on, I’d like readers to ask themselves this question: What does “Block 76000” in the NxT testnet blockchain mean to you ?

If the answer is ‘nothing’ then you’re possibly in the ‘economists’ trading category from the perspective of today’s report. If the answer is ‘something’ then you’re more likely in the engineer’s category. Hopefully, knowing which group you fall into will help you decide if you’ve over or under valued your investment and interpret the report accordingly.

If you ask an engineer for a description of an aeroplane, they’ll likely say something like “a flying machine”. On the other hand, if you ask an economist, they’re more likely to answer “an expensive asset”.

These two perspectives on the same object come from disciplines which are inherently independent and yet they form complimentary accounts such that without either, we don’t have the full picture as far as an investment proposal is concerned. It’s not enough for an airline to know that the ‘flying machine’ works and can get its customers to the correct location for sipping their ‘Bahama Mama’s’, they also have to know how much it will cost them.

Conversely, there’s not much point in knowing the price of something without also knowing what it is you’re buying. Imagine a supermarket where all the shelves only had prices and no products. You’d need a strategy to infer the nature of the product from its price. So maybe you only buy the expensive stuff because that must be the ‘good stuff’. You then checkout only to find you’ll be feeding your family of 5 this month on a couple of organic smoked salmon, 15 tins of fois gras and a few bottles of champagne followed by 3 weeks of starvation.

When the engineer’s and the economist’s views are in balance, we have a correct valuation for the asset. In other words, the market has full information about both the cost and potential revenue of that asset. When these views are out of balance, we have a miss-valuation. i.e. the market is trading without full knowledge of the asset’s properties and our view is distorted in either the economist’s or the engineer’s direction. (We are either looking at the price only without knowing what the asset is or we are only looking at the function without knowing the price).

WHAT HAS THIS GOT TO DO WITH NxT ?

During the last few weeks, some strange trading patterns have appeared. Firstly there is a background ‘noise’ of very slow price decay over lots of sub-10,000 NxT trades. However, superimposed on this are 2 distinct categories of trade observed having very different behaviours:

[1] – some very large, almost desperate looking, buy-ins which temporarily pushed the price up by about a months worth of ‘background noise’ at a time

[2] – some very large and equally desperate looking cashouts

TESTNET BLOCK 76000

As a background to all this, there is some industrious and highly strategic activity going on by the developers of the NxT network services.

About an hour prior to the writing of this report, we passed block 76000 on “testnet” (NxT’s auxiliary ‘offline’ blockchain used for testing new technology). This is possibly the most significant single event to have occurred in the evolution of the network since launch because it signifies the blockchain’s asset publishing service going live for testing purposes. For this to have been achieved, many challenges have been faced and solved by the developers including the implementation of new server side and client side technologies which will now start undergoing some heavy testing. Block 76000 therefore probably represents the point at which NxT reached its highest ever utility value as a technology and whoever the trader was that cashed out 11553 NxT right at that point at a multi-week low price of 4322 deserves my thanks since it was them that provided the inspiration for this week’s report.

On the face of it, therefore, the 2 categories of trading above would appear to follow the distinct and contrary profiles of the “2 sides” of this coin:

a) – engineer’s category: traders who are following its technical evolution and ‘buying in’ as it attains an ever higher utility value

b) – economist’s category: traders who are following its price evolution only and ‘selling out’ based on the decaying market valuation

THE PARALLAX VIEW (Apologies to Warren Beaty)

As we observed earlier, both the engineer’s and economist’s view are relevant and in fact essential in forming an appropriate valuation. But when one is out of balance with the other, we either have airliners with no price tag or supermarket shelves with no product description. In the case of NxT’s valuation, Market Report notes that one of these views is plastered over every cryptocurrency exchange, graph, ticker and forum on the internet, while the other is buried away where only interested parties care to roam (and still have to do some digging at that). In fact, you have to go to an obscure forum, 11th down from the News and Announcements section on nxtforum.org in the ‘Technical Discussion’ section called ‘Testnet’ to find this:

This major imbalance in the two sources of information in the view of your humble commentator is likely to cause a distortion in the price valuation of the NxT technology – a kind of ‘parallax’ which may account for the bi-directional spikey trading behaviour we’re seeing. (Exemplified by our friend who dumped their 11553 NxT at the precise moment of highest value and lowest price).

Finally, just in case you haven’t yet guessed by now which is the under-stated view then here’s some stuff I’d like to sell you ! 

Usual health warnings apply. In the meantime, as always..

Happy trading !

p.s. countdown to the ‘live network’ asset exchange launching is here: http://www.nxtcommunity.org/

advarsel

HEALTH WARNING
lightspeed is an amateur trader – in fact barely past “beginner”. The purpose of this commentary is to generate discourse with what I’ve learned so far about NXT and trading to other “beginners” If your a “pro” just make sure you take your own advice and not mine !!

Donations to lightspeed / Nxt Marked Report: Nxt acc. 13411915496268579987

Original post on nextcoin.org forum:
https://nextcoin.org/index.php/topic,4467.msg43366.html#msg43366