Yes, Novacoin has a surprisingly high market cap (nearly half of the PPC market cap), above all if one takes into account the numerous scam accusations against its main developer and BTC-E. The difference in the per-unit value does not surprise me though because there are only 300.000 NVC but 19 million PPC in existence. NVC was also one of the few coins not affected by the “altcoin bubble” of April/May 2013 and was a fairly safe altcoin to invest as the price followed Bitcoin’s price with very few variations. It is possible though that with the new “variable interest rate” NVC could lose value if the interest/inflation goes too high.
This is true, at this point there are over 60x as many PPC as NVC.
The shifty launch is what troubles me the most about Novacoin. There’s nothing innocent about gifting an exchange that many coins right off the bat. I don’t see NVC as a big player years from now but who knows, it’s all speculation.
[quote=“craslovell, post:2, topic:140”]What disappoints me about this is the fact that NVC has so much of a higher trading value than PPC.
Of course, they are harder to mine at the current time as well, but less of a supply should not necessarily mean higher value.[/quote]
Novacoin is pretty clearly backed by someone. There have been as many as 3600 BTC bid to support the price. This isn’t necessarily a bad thing. It just means someone (BTC-E?) has a vested interest in the currency and wants to draw a different chart for it than the unbacked cryptos. Will be interesting to see how long they continue to do this.
[quote=“calian, post:6, topic:140”][quote=“craslovell, post:2, topic:140”]What disappoints me about this is the fact that NVC has so much of a higher trading value than PPC.
Of course, they are harder to mine at the current time as well, but less of a supply should not necessarily mean higher value.[/quote]
Novacoin is pretty clearly backed by someone. There have been as many as 3600 BTC bid to support the price. This isn’t necessarily a bad thing. It just means someone (BTC-E?) has a vested interest in the currency and wants to draw a different chart for it than the unbacked cryptos. Will be interesting to see how long they continue to do this.[/quote]
Maybe we should start some bets as to when it will take a crash? ;D
3600 BTC is nothing to shake a stick at. Quite a bit of money propping it up in that case.