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i mean there iss  ethereum (and nxt etc).  can NEM still be relevant?

im looking up to developers like bloodyrookie  who obviously actually have skills and don't really care about all the drama surrounding all the crypto coins.

how does community view this thing ?
can this thing keep up with Ethereum ?
will it have its need in the world ?

what say u? ;)


P.S. accidently clicked self moderated, this is not on purpose, I won't delete anything

NEM is a communist joke.

This is the story behind NEM:


NEM's whole "equal distribution" scheme is a joke.  Nothing in nature is equal.  Things can be "fair", but NEM wasn't started as "fair" because UtopianFuture is a liar, a cheat and a thief.  He also made sure NEM isn't equal either.

NXT may not be "equal", but at least it was "fair".

UtopianFuture is probably still another guy thats active in the project, just nobody exposed him yet.

IDK more input plz

From talking to both of them, my best guess is UtopianFuture == TaunSew.  I know jealousy lowers peoples' IQs when they let it get the better of them.  UtopianFuture is probably posing as multiple individuals.

Of course its needed , its the "New Exciting Moneymaker". The next super pump an dump in crypto  ;D

Is it true 65% of NEM will be controlled by the devs?  :o

sounds pretty nifty



wow that's intense (if true)

do they say that somewhere?

Is CfA still relevant? Is he needed? What is he?

Take a few minutes to peruse his history:
https://bitcointalk.org/index.php?action=profile;u=300079;sa=showPosts


As for NEM distribution - 65% to devs? What are you smoking? Where do you guys come up with this stuff? Distirution is a long story, but the vast majority of XEM goes to stakeholders, not developers. I believe that there were a few unclaimed stakes which have been allocated to a variety of funds such as community development, node operation incentives, etc.  This info is all in the newsletters, on the website, in the forums, etc.

It is still unlaunched so the plan could change. But currently, 35% of NEM will be distributed to stakeholders.

Zachamo, you haven't been paying attention. And I didn't say 65% to devs.

Matey, I dont think I'm relevant and I dont think I'm needed to be honest!  But that kinda differentiates me from NEM I guess.

U see I didn't claim any of this. But NEM does. It says it is needed, it is relevant, it is important, it is the next big thing and not shite. But why, really? There are others whove got what nem hopes to be up and running just fine. What makes the 'Nem' needed?  What makes it so great? I'm not against Nem by any means, but I think there's a lot of BS marketing that makes no sense about it. Hence the thread, ye know. :´) What makes it so special that its gonna outperform all other crypto platforms? It would be great to know thx

it does sound VERY interesting!  ;D

lets keep an open mind. almost all alts turn out be crapola....maybe these guys have a plan after a year! we shall see.

or the record, 65% will not go to devs pockets.. its much MUCH less than that... there are 5 core devs, more than most cryptos if not all bar bitcoin, so the dev stakes assigned as rewards will be split between the 5 devs and other people who have done dev work which includes about another 3-4 people for various things... the total amount being split between these 8-9 people is 10% at launch. at V1 which will be when business rules, asset exchange, and a number of other features are ready, there will be another 10% split between devs but it will be paid out during a stretched out period probably spanning up to 1 year but im not sure on that.. then there is 5% for marketing, ecosystem and other stuff.. so thats the 25% that was originally set aside from day one..

then sock puppet removals came along and SHIT TONS on sock puppets got caught out(sockmasters who held stashes of 10-200+ illegal stakes) due to the dev team running 3 or 4 rounds of ever increasingly difficulty to dodge soc removal phases which when you combine with the number of unclaimed stakes so far(which will drop quite a lot post launch) brings the number of stakes assigned to individual stake holders down to ~40% of all stakes.. though this has reduced the amount of stakes assigned to stake holders, we now are very confident that we have >1300 unique individuals in the genesis block and an unmatched wealth distribution among these people... this will also seriously reduce the dumping post launch so the price should be quite healthy post launch as nem has broken the mould and removed pretty much all sock masters and has not allowed the creating of whales who hold gargantuan amounts of nem..(stakes held by the nem team != whales who can freely dump)

now let me make one thing very clear before i move on: the sock puppet stakes confiscated or unclaimed will not go into developers, or any insiders pockets!
the unclaimed/sock stakes will be placed into various funds such as a community run fund to which anyone will be able to apply for funding to get nem related projects funded which will be a significant boost to the nem ecosystem. there may also be funds for having the NCC developed as well as a mobile client(which is already in early stage development) and a smaller stake for marketing costs so that we can build a recognisable brand for nem. there are other smaller funds which i cant think of right now but you can find proposals on the nem forum.

but one thing i must stress is that these unclaimed/sock stakes, will not be "going into pockets" for personal gain.. every single nem will be used to further the development and progression of nem towards a booming ecosystem and on to global adoption(hopefully ;D), through the use of community fund, marketing fund and various other funds, and every single penny will be held under multi-signature control and (the community fund) will be subject to community approval before funds are spent or distributed to fund a project, which is one big reason for the delay in launch as the devs refused to launch before multisig was ready and fully tested and secure.

also, i must also stress that yes taun can be a pain in the ass sometimes but he is just one person.. please refrain from judging an entire community based on one persons postings.. i would invite you all to come over and check nem out.. even though nem has taken so long, the community is far from disheartened and actually grows more confident by the day. on telegram between multiple nem chats there are normally over 3k messages in around a 24h period, if not more.. IRC, the nem forum, the btt thread, trello and chinese forums have had continuous growth irrespective of the delays in launch. excitement is rising as we proceed towards launch and it is rapidly approaching. this is not a platform that should be easily dismissed.

@from above, you are right about bloodyrookie, but he is only one of our astounding developers.. Gimre, Jaguar0626, Makoto, Bloodyrookie, and Thies, are all insanely skilled developers, but combined they form a team that i dont think has ever been seen before in crypto... you should really test out the client and see what im talking about.. they have made a great number of HUGE breakthroughs in cryptocurrency technology.

some of these breakthroughs are such things as proof of importance, which if it proves to be secure and functions as it is supposed to be, it could well be the next major step in consensus algos from PoW -> PoS -> PoI.

another is the local Ncc, remote Harvesting/Nis combination, which allows users to connect their locally run Ncc to a remote instance of Nis and use that instance to securely transact(keys are never sent over the network) and harvest(proxy address is used and sent to nis) with out ever needing to download or sync the blockchain or trust the operator of the Nis. this is a MAJOR breakthrough, as it is now takes less than 2-3 mins for a new users to boot up the client and begin transacting and harvesting securely even if the nis is controlled by a malicious actor.

Nem has also integrated a new spam filter which i dont think any crypto has done to date.. Nem is also the first coin to have blockchain based multi signature accounts, which for the record, none of the other established cryptocurrencies have managed to pull off so far. Nem is also the first to have P2P synchronised time, which i have heard is a problem that P2P tech has needed solving for a quite while.. and this is all before Nem has even launched which shows the core teams dedication to producing only the finest, most secure and stable network possible prior to launch. these are not the actions of developers who are interested in making a quick buck.. these guys want to change the world and they are going about it the right way imo.

these are but a few of the major innovations of nem..  however im not here to tell you to pump in all the money you have into nem, it is still of course early days and nem still has a lot to prove.. but i would state again what cassius has said about keeping an open mind. and he is quite right in fact.. there are a lot more great things to come from nem. anyway, id urge people to take a closer look at this one before writing it off..

ohh baseless accusations. these topics are always fun. here let me try : seems like a socket puppet is crying .

Nothing to learn from here folks. Move along.

Thanks for the long and detailed response kodtycoon


unfortunately this is totally unrelated. Please keep posts ontopic. thanks!

What makes you think that UtopianFuture isn't aware of how to bypass the sock puppet searches?  How hard is it to use a VPN/Tor and Virtual Machines to get around those?  You make it sound like your sock puppet removal was "fool proof", but that's not true at all.

You claim 1300 unique individuals at launch is some kind of achievement in "egalitarianism" which is absurd.  NXT has over 100,000 accounts.  A lot of original NXT stakeholders sold out early before it became worth a substantial amount of money.  There are over 7 billion people in the world.  What about the other 6,999,998,700 individuals?  Regardless of how evenly spread out the initial distribution is, which is highly questionable, we all know that very quickly some people will dump their coins and others will quickly purchase tons of coins making the initial distribution null and void.  Wealth distribution is controlled by the Pareto principle (https://en.wikipedia.org/wiki/Pareto_principle) and you cannot change nature.  Why spend so much time and energy vainly and unsuccessfully attempting to make distribution "equal" when it will be instantly destroyed once the coin is allowed to be exchanged?  "Equal" doesn't equate to "Fair" and NEM's initial distribution was far from "Fair".  UtopianFuture made sure of that.


PoI is fundamentally flawed.  What is to prevent someone from creating a ring network (or other loop topology) with their accounts and sending NEM between their own accounts, thus increasing their forging (aka "Harvesting") power to the point which they can attack the network?  It is impossible to detect all the possible account topologies which would allow this.


This isn't a "MAJOR breakthrough".  This is already possible in NXT.  In NXT, you can locally generate signed transaction bytes without downloading the entire blockchain and use someone else's online NXT node to broadcast the transaction.

hah.. staking in NXT.

now thats a term i haven't heard in along time. Seriously. How much coins do you need to own to be able to stake a few hundreds? i am almost sure 100k nxt is not enough.

Everyone stakes in equal proportion to the amount of coins they hold.  How is NEM any different?  Are you some type of Communist?

You are speculating. You will probably be right. People might dump. But that does not mean the distribution is not healthy at lunch. Why is this important?  Well it raises the ratio or dumper to holders. Also the moment the price dips. Just like you assume people will dump , well with that many users im sure equally more will be there to buy them. minimizing the low floor.

Either way. this is speculations. Nothing wrong with that but your sound like your calling them out of something that might happen.. calm your titties


Can you prove it?
Also. You think you are a genius to think of this exploit? NEM devs have never thought of this? a year into developments and no one thought of this basic "fundamental" exploit?

whoooshh

I am calm.  I'm just stating the fact that it will happen.  Guaranteed.


Yes, the tests say that I am a genius.  I've brought this point up numerous times when discussing PoI and nobody has offered any solution for preventing it.  My best guess is that NEM's devs know about this flaw, but are being quiet because if revealed, it would destroy NEM's only so called "innovation" and turn it into a liability.


"whoooshh"?

Guaranteed. ........ of course you do. until you don't. Got that magic globe ?



Do you know what i said the first time i read about POI? the same thing. Wow. we are both geniuses. two for two. i wonder how many other are like us. Surely not a lot of whom when they first hear about POI , think about what would happen if you send it back and forth.

Boy lets keep nagging the devs until they finally understand that POI can be gamed that way. i am sure they never thought. After all not many people can be as genius as us.


Seriously. Just that you did not get your disclosure does not mean they haven't thought of it. So calm your titties and wait for the lunch, no?

what honestly interests me most is how NEM developers and advocates view the need of the project. U know like I said there are some nextgen projects out there that r working and that don't suck, but not a whole lot of people use them ~platforms/~coins. Why would Nem be a difference then?  also there's ethereum that has countless top notch developers, $18M in funding, public interest, media coverage and what not. hating it or not it's a fact that can't be denied.

how does it even make sense to launch another crypto platform? U know this is a serious concern and I have not once heard why BUT how great it's supposed to be. U see? PoI and all that, yeah yeah, but why really? What'd make the world care? what's the actual need other than to possibly enrich developers and nem holders? I mean the basic system behind it (apart from yet unproven gimmicks like poi) is already existent ain't it?

thanksees to all who took the time to answer to this thread, u r great, ;)

NEM is an attempt at a full featured ecosystem from launch.

Still has bugs in the client that are preventing Nem launch ?

It seems like the whole alt scene has really died down this year but at least NEM is trying to bring something new to the table and isn't just a copy and paste Bitcoin clone.

Despite the "scandal" with UtopianFuture, I do think NEM will be one of the better launches this year.

http://s5.postimg.org/vsgc7j6x3/haters_gonna_hate.jpg (http://postimage.org/)
 (http://postimage.org/)

funding will matter a lot.  how much funding does the NEM team have?

I don't know, but reading this thread gives me the impression that NXT is going to have a much better distribution than NEM. Which is a bit ironic since if I remember correctly the entire purpose of NEM was to 'fix' that.

It's kind of hard to distribute better than NXT when it has had a year and a half of live trading at low prices. Is there really a better distribution method than an open market? I'm not so sure.

The NEMwits would tell you the best distribution method is Communism.  Just look how "fair and equal" UtopianFuture was in allocating stakes to himself.

"All stakeholders are equal, but some stakeholders are more equal than others." - Official NEM Motto

Ya man, obscure features don't create tx... it's all about tx...
Successful businesses built on or moved to your platform create tx.

After about 15 months of NXT and 12 months of NEM:

NXT Forum posts....165,000
NEM Forum posts......12,000

If you were a business looking for a "tool box"... which pool of critical mass would you choose?

But I'll say this...
Just ONE existing multi-million dollar business choosing NEM over NXT could flip it.
 
A big torrent site or big anon vpn site would vault NEM over NXT...
You guys should be HOSTING these types of businesses out-of-the-freaking-box...
Pirate Bay or Mullvad should be up and running on NEM in 48 hours (nothing like this on NXT)...
Yo! You've had a year to build a hosting platform... while NXT is spinning their wheels.

Which is.... when?

I just ask because you've been saying the same thing for over 6 months now.

This is interesting. Any ideas why they chose such the strategy? A tech that is not tested in wild brings extra risk (and reward?) into business.

Firstly the problem is I don't beleive there is any room for another alt apart from ones attached to a real world product like an ebay type site etc.

The specific problem with NEM is they have become the same type of circle jerks they were susposed to be opposing in NXT. NEM has no tech innovation that anyone cares about and has less than the competition. It's last years new, it will be dumped.

What are the problems with NXT that NEM is supposed to solve?

It solved the jealousy of some NXT boys who didn't get in on the early lucrative action.

Shouldn't there be "Awesome" in the middle of your nick?

I can't  agree you more.
It claim fair, but with lots of sockpupt account.

http://s5.postimg.org/jzjg628cn/iy1kd.jpg (http://postimage.org/)
 (http://postimage.org/)

Whatever happened to NEM? I still have my stake which I received initially.