LastBattle
Long

NXT, the end of a 2 year bear market?

POLONIEX:NXTBTC   NXT / Bitcoin
6 months ago
Technicals
There looks to be some potential in here, for as long as 1200 satoshi holds for a little more. It may be reaching the point where there may be more interested buyers than sellers.
Could this be the base NXT is waiting for in order to get out of the bear market? It would be another 3 weeks before we see what is going to happen here...


NXT IPO
One controversial with NXT is that it was fully pre-mined on day one. 21 bitcoins as the initial 'IPO' fund used to generate 1 billion of NXT. This may have adverse impact on the reputation of NXT as a whole while the majority of the crypto community are still not used to such an idea as 'mining' at that time was seen as the 'de-facto' way of making new coins.
Having all the money supply saturated within a few individuals at first also means a huge dilution of over time for as long as they are still not evenly distributed among the market participants.

NXT 2.0, what does it mean?
  • Child-chain (allowing people to create their own blockchain)
  • Scalability

https://nxt.org/roadmap/
https://nxtforum.org/core-development-discussion/nxt-2-0-design/
https://news.bitcoin.com/interview-nxt-foundations-dave-pearce/

I'd say, go for it. NXT have nothing to lose anyway and plenty to gain from this. However it still boils down to users, is NXT trying to solve a non-existence issue for itself at the moment? (its always good to see new things to the table anyway)

Marc De Mesel's capitulation
Buy high, and sell low? He's one of the biggest supporter and advocate for NXT since its inception...
For him to throw the tower and say, enough is enough is significant.
https://www.youtube.com/watch?v=qFRcadXJa-4
https://www.youtube.com/watch?v=H-2sxs2VYH4&feature=youtu.be

Case in point: Mike Hearn

Conclusion
While NXT may be ahead in the game before other cryptocurrencies like Ethereum in terms of smart contract it may not necessarily be the one that would gain the expected traction. It is the network effects that matters.
The cryptocurrency community is small during the early 2014~2015, and I guess the majority of buyers may be in fact speculators. It was not until recently that we have seen everyone suddenly talking about 'blockchain' and 'smart contracts' aside from monetary based cryptocurrency like Bitcoin . A 'catch 22' situation where if you do not attract speculators, naturally there would not be any users in the first place, and the IPO             pre-mine may have adversely affected NXT odds of survival for the past 2 years.


I'm looking at NXT in the perspective of a trader, and in terms of risk reward I think this is a pretty good area to buy and accumulate on the assumption that 1200 satoshi holds.

While the animal spirits of Ethereum/Lisk/DAO are alive today, what do you think is going to be the next?
We've just seen this too many times in history, such as litecoin, PPC             , ripple, BTCD, Dash... who talks about it now?
5 months ago
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Looks like there's no interest even at 1100 satoshi? Watching...
5 months ago
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Now testing the upper trendline... which camp will win?
5 months ago
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Woahh
5 months ago
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yep.. no sell signal, keep holding strong. Remember, NXT is only a 20 million market cap coin.
5 months ago
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Sideways for the next 9 days until October 12
5 months ago
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Weak demand... 2200 satoshi possible before the distribution
DrGonzo87
5 months ago
You called this one pretty well. I considered buying some of this at 1000 sats, but I never saw it doing a move like this.
+1 Reply
LastBattle DrGonzo87
5 months ago
thanks :) NXT have been grinding ever since it was released, whether its a real bull market or not it needs some bounce from there
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LastBattle
5 months ago
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Mostly a no-sell, until Ardor distribution is done. Of course, I might look to sell a day before they're distributed for a quick scalp and buy-back cheaper.
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