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the_qort_coin [11/16/2022 09:54] – [How The Price Of QORT Works] gfactor | the_qort_coin [11/23/2022 08:23] – [Obtaining QORT] gfactor | ||
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===== Obtaining QORT ===== | ===== Obtaining QORT ===== | ||
- | You can obtain QORT in two ways: 1) become a minter to earn block reward for supporting the network | + | You can obtain QORT in two ways: 1) become a minter to earn block reward for supporting the network, and 2) trading other coins for QORT on Qortal' |
+ | 1) Becoming a minter entails finding a sponsor within the community, then proving your node to the network over 7200 blocks, thereafter you’ll reach Level 1 and be able to begin minting QORT for reward (refer to the [[Minting Overview]] page). | ||
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+ | 2) Trade coins for QORT on the Trade Portal entail purchasing third party coins from an exchange, sending that coin to your Qortal wallet, and then using the Trade Portal to trade those coins for QORT (refer to the [[How To Use The Trade Portal]] page). | ||
===== How The Price Of QORT Works ===== | ===== How The Price Of QORT Works ===== | ||
- | QORT' | + | QORT' |
- | QORT has a price/rate shown in two main locations at the present time: explorer.com and within the Qortal UI. This metric is based on recent trade averages. At explorer.com, the ' | + | ==== QORT's Indirect Value To Fiat ==== |
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+ | First and foremost, QORT does not have a direct $USD price or with any other fiat currency (money made legal tender by a government). There are no plans to build direct support for fiat, so QORT cannot and will not be able to be bought directly on Qortal with fiat. Users must convert their fiat into one of the cryptocurrencies we support (BTC, LTC, DOGE, DGB, RVN, ARRR). Once users have coin to work with, they can deposit that coin in their Qortal wallet, then trade with QORT. The point to make, is that any reference to QORT in terms of fiat value is an INDIRECT value - meaning that it is based on a third party coin's DIRECT value to fiat. | ||
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+ | For example and the use of simple numbers: if LTC was directly valued at $100 per coin, and was trading with QORT at a rate of 0.01 QORT per LTC, then QORT would be indirectly valued at $1. Now let's say later in the same day, LTC's price drops to $50 per coin, but is still trading with QORT at the same rate of 0.01 QORT per LTC, then QORT would be indirectly valued at $0.50! | ||
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+ | When the crypto markets began to tank in spring of 2022, LTC's price began to fall drastically. QORT's trading rate with LTC remained relatively stable during this period. So while QORT's ' | ||
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+ | Next, is to point out the indirect fiat value of QORT depending on what third party coin it's trading with: QORT-LTC verses QORT-BTC might be completely different. As BTC's direct fiat value does not fluctuate identically to LTC's (none of these coins do). | ||
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+ | ==== QORT Does Not Have A Set Price ==== | ||
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+ | QORT has a price/rate shown in two main locations at the present time: exqlorer.com and within the Qortal UI. This metric is based on recent trade averages. At exqlorer.com (yes that's the correct spelling - exqlorer with a ' | ||
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The neat thing about the Qortal UI's rate, is that each user can specify their own parameters as they see fit. This can be done via API, which is currently something users have to modify outside of the UI as shown below: | The neat thing about the Qortal UI's rate, is that each user can specify their own parameters as they see fit. This can be done via API, which is currently something users have to modify outside of the UI as shown below: | ||
- | {{:: | ||
{{:: | {{:: | ||
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+ | To access this, the user will need to 1) have api documentation enabled in their json settings (on their node), and 2) open an Internet browser to enter this link: 127.0.0.1: | ||
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+ | {{:: | ||
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+ | This website is the ' | ||
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+ | {{:: | ||
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+ | **Please note:** You do not have to restart your core for these changes to reflect in the UI. Enjoy! | ||
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+ | ==== No Walls In The Trade Portal ==== | ||
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+ | Did you know? You can list an order at any exchange rate as you see fit! You can also buy any sell order on the list as you see fit. This is what we mean by no sell walls or buy walls in the Trade Portal. These ' | ||
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+ | ==== Future Features ==== | ||
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+ | Qortal is a massive work in progress. Part of the roadmap for the Qortal UI includes a built-in block exqlorer (for visualizing blockchain network metrics) as well as price charts! Stay tuned! |