I sincerely hope to see cooperation from everyone in this community who truly believes in NEM to try and make this process as quick and painless as possible.
I am fine with that decision. But I see a problem with the leftover stakes. Just keeping (or selling) them doesn't not very good... you have already a few to sell... it looks greedy... in my eyes all leftover stakes should be destroyed. that is creating value for everyone. We won't simply keep all of them. Who said anything like that ? There a many options on what todo with unclaimed stake but let's wait how many there really are before we make a decision. |
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For anyone confused by the infographic between steps 2 and 3, I apologize. My wording was not clear enough. The "waiting period" between steps 2 and 3 is not a matter of a few minutes. It will be days (I'm not sure what the exact target is for the timeline here) before we are ready to proceed to step 3. Once you enter your token on the website, that's all you can do for now.
May even be weeks as there is an actual reason behind it and not just idiocrazy as I'm sure many suspect  |
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Could someone please explain the process to me?
I don't have my stake on the Nxt AE, I got mine per PM, I registered it on the site provided.
But I don't have a NEM address yet (even though on the infographic it says we should provide one on this site? There wasn't a field for that)
Where and when will we get our address?
(I also deleted my cookie to check the front page of the site again to make sure there wasn't a field for that. I hope that wasn't a mistake?)
Everything looks fine in the db. You're good. Deleting the cookie doesn't matter either because we don't use them to track your stake or anything. As we've said numerous times we'll provide a way to create an address soon enough. |
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What about the stakes at NXT ae?
Is there a redempion process too or just an address to send back the Nemstake?
Will the distribution of the coins happen at the same time?
Please see "Phase 2" in the link above. If I'm not mistaking, I think all distribution will happen at once. Sorry, but I donīt understand the process for AE-Stackes. If I start on Step-2, I should insert my Nem-Token on the page, but I donīt have a NEM- Token. I have 2 NEM- Stakes on my AE  This phase is only for people who do NOT have stakes on AE. The process for AE will be start in time. |
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I've just started to send out the redemption codes. Check your pms regularly and please follow our security advisory !
It'll take a while to send out thousands of pms because of the waiting periods that btt enforces.
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Iīm in holiday until end of octobre without smartphone and internet and i hope the distribution of NEM Stake is not in this time. Have fun people , i pay my trip with Nxt Hate to break it to you but yes it is going to be in october. He said end october. So he may just make it for registration. if Hauberg81 knows he wont be hear perhaps he should request that a trusted member collect his stake for him and return it upon his return? i would be willing to do that along with a few other that have already suggested the idea for people that will not be able to claim? I'd welcome such an innitiative. The fewer unclaimed stakes we have the better. |
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When will the original stakeholders be getting their PM containing their token? Cheers.
It will still be a bit longer. Not determined yet but likely sometime this month. Most definitely sometime this month hopefully by the end of this week. This also means that the stakeholderlist needs to be final by prob friday. Any isssues that have not been resolved will result in lost stake. what sort of problems with the stakeholder list are there I thought it was all done. If someone loses access to his account or whatever. Once the tokens are sent out dealing with these things will become very very tedious and I'm not willing to put in more hours just because some people don't see the necessity to check btt at least once a month. |
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Iīm in holiday until end of octobre without smartphone and internet and i hope the distribution of NEM Stake is not in this time. Have fun people , i pay my trip with Nxt Hate to break it to you but yes it is going to be in october. |
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When will the original stakeholders be getting their PM containing their token? Cheers.
It will still be a bit longer. Not determined yet but likely sometime this month. Most definitely sometime this month hopefully by the end of this week. This also means that the stakeholderlist needs to be final by prob friday. Any isssues that have not been resolved will result in lost stake. |
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Well.... The official "beta" was suppose to be released in September and then 3 weeks after the distribution. I would also like to know when it will happen.
no need to rush. just look at NODEcoin to see what happens when you push a release date or, please rush so I can pick up cheap NEM when dumpers dump upon a premature release Even if we released right this second it wouldn't be as premature as NODE |
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But two assets is not allowed with the same name? It is allowed, otherwise the "best" names could be blocked. User/buyer has to check the asset ID. How many people will ever check the ID? Even a simple scam on the BTT lately can scam the computer savvy guy. Unless NXT is only designed for that few people, it is ok. But for main stream? I don't know what to say.  There is no best solution as both ways (without centralization) have pros and cons. no unique asset names was the lessor of two evils. it would have been worse if they were unique as every sinlge dictionary word, 2,3,4,5 letter abbreviations and anything that could potentially have be profitable to grab would have been snapped up and then squatted on.. we would have random alpha numeric codes to look at instead of actual names. i would have done the same. I would prefer the unique names BY FAR. It has worked quite well for internet domains no ? Sure people can grab good names but so what ? if you want that name you'll have to buy it or use a different one. Don't see anything wrong with that. |
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...
I would make it optional (just like token request is optional). If you want that extra layer of security of being email verified over BTT verified then you send Patmast3r / xtester a message containing your email.
Just a reminder that, once you send out that message, that you delete your sent outbox (so if your BTT is compromised then whoever has your account can't find out what email you gave Patmast3r / Xtester)
Such a pm could also come from an overtaken account so there is really no way to know if the email will be legit. My advice is to store the token (I hope we can send out really soon) somewhere other than btt and then delete the pm. After that you can do with your btt account whatever you want |
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Hi I just attempted to log in here to Bicointalk.org, and had trouble with my password - which I hadn't changed.
Was getting nowhere, so I requested a password change, waited - no email was sent to my registered address.
Finally got in via my 'secret question' to find my email address had been changed to a Russian one!
My password for this site btw is around 16 characters/upper/lower/numbers etc so should be impossible to guess.
I have now changed my email address back to my original one, and changed my password (another long random one)
My PC is clean, no keyloggers or trojans etc
Given that our Btc.Org accounts are our proof of Nem stake, I am concerned this may happen again.
Advice appreciated
gald you got your account back. @devs, perhaps the "token" or "code" that will be used for redemption should be sent out ASAP to prevent any more lost accounts for what ever reasons? Actually, we should have the email account sent instead. THis is all going to be messy as we do not know who is real and who is fake anymore. It could be a hijack in plan and we don't know. If we don't know who's fake anymore how would you like to collect those email addresses ? |
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always amazes me why governments and even the people seem to think that 2% inflation is acceptable and even good. over 10 years at this rate means a devaluation of 22% of the money. Thats fine if wages keep up but they invariably dont.
People WILL spend money when they need to. Do you really think that someone will put off buying a car or something for the house or anything for that matter because it will be slightly cheaper next year? Its not human nature.
another thing. people will just have to learn to keep their passwords secure ...or else lose everything...
Why is everyone coming up with these percentages. We'd be talking about 0.1 % here. It could e.g. be used to pay random rewards to people running nodes that usually don't get to harvest because their POI-score isn't hight enough. Kind of a lottery to make the network stronger. I'm glad this actually turned into a decent discussion and not some flame war |
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Proof Of Importance? based on what?
POI is based on serveral things: How much NEM you have, how much NEM you are transferring to others, how much NEM other are transferring to you. The exact formula is not set in stone so far. That's we are a little vage how it works in details. I would really like to see a third aspect which is how long the NEM client/node has been running put in the mix too. This could help to encourage more people with smaller amounts of NEM to also turn their client on and leave it on in the background. Hopefully someday the network will be supported by lots and lots of regular people. Node Coin https://bitcointalk.org/index.php?topic=590421.0 has gone with client time (one point per second) and spending score (one point per coin spent) and then which ever Node has the highest score is more likely to harvest. I think this is good, but they are missing the "coins received" and traditional Proof of Stake found in NEM. Crypti has also added proof of merchant, which means that special merchants that register can get a discount on transaction fees. By doing this, they can also be rated and won't be anonymous. A trait that we actually want when buying something from another. Basically as buyers we want to be anonymous and have our privacy protected, but at the same time we want the exact opposite for merchants. We want merchants out in the open and their history and reputation easily known. Basically, we want to know who we are sending our money too and what kind of person they are. This power in reputation has been a huge part of the success of Amazon and Ebay and really should also be incorporated into crypto too. I would call this PoS^4 Proof of Stake - Money held in account Proof of Spend - Money going in and out Proof of Service - How long a node has been supporting the network Proof of Status - Registering with the network and allowing a reputation status You wouldn't want to choose harvesters based on just running a node, as that is too easy to attack (you don't want to make it easy for people to be able to control when they harvest). However, we are currently trying to find a way to reward nodes who are active and also have a reputation for sending valid data (as determined by eigentrust++). The problem is, how do you keep track of the active nodes that are online at any given time? How about sending out rewards to nodes just once a month? Using data from eigentrust++, nodes who have gained a certain reputation level (this is where the smart kids come in and crunch numbers to find that level) get a share of the rewards which are only payed out once a month and then it starts all over. Let's say there is a 25,000 NEM reward each month for nodes that have met the required reputation level, they would each receive an equal share which would be payed out at the beginning of the following month. The problem is that eigentrust++ values are local and relative, not global and absolute. Like I said, it's a hard problem Does anyone know how Node does it? Here is a very quick overview on what emuine does: Hatchers are currently rewarded for their work with a) tx fees b) rewards. Rewards are paid out when the emunie system decides to create new EMU. 50% of all newly created EMU are paid out to hatchers. These 50% are divided among the hatchers in proportion to the hatching work they have done. Afaik hatcher are special nodes so emunie is not 100% decentralized. I'm not saying that's a bad thing - just pointing out the difference. Paying out rewards to all harvesting nodes isn't a bad idea. It would however introduce inflation. What does the rest think about this ? Inflation in NEM ? If it's a very small inflation it could be a good thing. Not sure why you think hatchers are special nodes, anyone can be a hatcher just like anyone can harvest. You have to be carful with inflation, if there is no way to destroy coins then inflation could get out of hand. Yes anyone can be a hatcher but it's like anyone can be a validator in Ripple right ? I haven't really done a lot of research into etherum so forgive me if I'm wrong here. |
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Proof Of Importance? based on what?
POI is based on serveral things: How much NEM you have, how much NEM you are transferring to others, how much NEM other are transferring to you. The exact formula is not set in stone so far. That's we are a little vage how it works in details. I would really like to see a third aspect which is how long the NEM client/node has been running put in the mix too. This could help to encourage more people with smaller amounts of NEM to also turn their client on and leave it on in the background. Hopefully someday the network will be supported by lots and lots of regular people. Node Coin https://bitcointalk.org/index.php?topic=590421.0 has gone with client time (one point per second) and spending score (one point per coin spent) and then which ever Node has the highest score is more likely to harvest. I think this is good, but they are missing the "coins received" and traditional Proof of Stake found in NEM. Crypti has also added proof of merchant, which means that special merchants that register can get a discount on transaction fees. By doing this, they can also be rated and won't be anonymous. A trait that we actually want when buying something from another. Basically as buyers we want to be anonymous and have our privacy protected, but at the same time we want the exact opposite for merchants. We want merchants out in the open and their history and reputation easily known. Basically, we want to know who we are sending our money too and what kind of person they are. This power in reputation has been a huge part of the success of Amazon and Ebay and really should also be incorporated into crypto too. I would call this PoS^4 Proof of Stake - Money held in account Proof of Spend - Money going in and out Proof of Service - How long a node has been supporting the network Proof of Status - Registering with the network and allowing a reputation status You wouldn't want to choose harvesters based on just running a node, as that is too easy to attack (you don't want to make it easy for people to be able to control when they harvest). However, we are currently trying to find a way to reward nodes who are active and also have a reputation for sending valid data (as determined by eigentrust++). The problem is, how do you keep track of the active nodes that are online at any given time? How about sending out rewards to nodes just once a month? Using data from eigentrust++, nodes who have gained a certain reputation level (this is where the smart kids come in and crunch numbers to find that level) get a share of the rewards which are only payed out once a month and then it starts all over. Let's say there is a 25,000 NEM reward each month for nodes that have met the required reputation level, they would each receive an equal share which would be payed out at the beginning of the following month. The problem is that eigentrust++ values are local and relative, not global and absolute. Like I said, it's a hard problem Does anyone know how Node does it? Here is a very quick overview on what emuine does: Hatchers are currently rewarded for their work with a) tx fees b) rewards. Rewards are paid out when the emunie system decides to create new EMU. 50% of all newly created EMU are paid out to hatchers. These 50% are divided among the hatchers in proportion to the hatching work they have done. Afaik hatcher are special nodes so emunie is not 100% decentralized. I'm not saying that's a bad thing - just pointing out the difference. Paying out rewards to all harvesting nodes isn't a bad idea. It would however introduce inflation. What does the rest think about this ? Inflation in NEM ? If it's a very small inflation it could be a good thing. |
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Proof Of Importance? based on what?
POI is based on serveral things: How much NEM you have, how much NEM you are transferring to others, how much NEM other are transferring to you. The exact formula is not set in stone so far. That's we are a little vage how it works in details. I would really like to see a third aspect which is how long the NEM client/node has been running put in the mix too. This could help to encourage more people with smaller amounts of NEM to also turn their client on and leave it on in the background. Hopefully someday the network will be supported by lots and lots of regular people. Node Coin https://bitcointalk.org/index.php?topic=590421.0 has gone with client time (one point per second) and spending score (one point per coin spent) and then which ever Node has the highest score is more likely to harvest. I think this is good, but they are missing the "coins received" and traditional Proof of Stake found in NEM. Crypti has also added proof of merchant, which means that special merchants that register can get a discount on transaction fees. By doing this, they can also be rated and won't be anonymous. A trait that we actually want when buying something from another. Basically as buyers we want to be anonymous and have our privacy protected, but at the same time we want the exact opposite for merchants. We want merchants out in the open and their history and reputation easily known. Basically, we want to know who we are sending our money too and what kind of person they are. This power in reputation has been a huge part of the success of Amazon and Ebay and really should also be incorporated into crypto too. I would call this PoS^4 Proof of Stake - Money held in account Proof of Spend - Money going in and out Proof of Service - How long a node has been supporting the network Proof of Status - Registering with the network and allowing a reputation status You wouldn't want to choose harvesters based on just running a node, as that is too easy to attack (you don't want to make it easy for people to be able to control when they harvest). However, we are currently trying to find a way to reward nodes who are active and also have a reputation for sending valid data (as determined by eigentrust++). The problem is, how do you keep track of the active nodes that are online at any given time? How about sending out rewards to nodes just once a month? Using data from eigentrust++, nodes who have gained a certain reputation level (this is where the smart kids come in and crunch numbers to find that level) get a share of the rewards which are only payed out once a month and then it starts all over. Let's say there is a 25,000 NEM reward each month for nodes that have met the required reputation level, they would each receive an equal share which would be payed out at the beginning of the following month. The problem is that eigentrust++ values are local and relative, not global and absolute. Like I said, it's a hard problem Does anyone know how Node does it? They are only going by uptime and noone knows how they do even that. All i know is a node broadcasts when he's coming online - that's the info that was given out. How that is agreed upon or any further details are yet to be released afaik. |
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Sorry what will be different in NEM relative to NXT, besides the distribution? Some unique features?
This is what i wanted to write... Sorry what will be different in you relative to the 100 people that already asked this question and got answers in this thread and on forum.nemcoin.com? Any unique skills? But we're all civilized now so here it goes... NEM doesn't use POS anymore it uses POI. There is no whitepaper yet but POI adds factors like transactional behaviour to POS to reward people that are important to the economy and not just rich. That's just the beginnung though. Stick around to find out more. |
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is there any set date yet for the official distribution?
Not a fixed date but we're aiming for a distribution during october. |
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