Big jump in marketcap on coinmarketcap now at $161,613,900 8th place.

Thanks, nice reading.  Particularly liked the below from NEM Malaysia president and NEM.io president foundation (Lon Wong):

Later in the year, we hope that NEM Blockchain will be formally tested and certified by the International Organization for Standardization (International Standards Organisation), and we hope that this will be the first standardized blokchain. NEM Foundation is going to be represented in the committee for ISO standards in Malaysia, one of the 16 countries that participated in the development of ISO standards for Blockchain. We hope that will also be presented in accordance with ISO standards committees in Japan and in Europe. This will facilitate the selection of NEM Blockchain as a standard.

As for the NEM platform status, I should mention a highly stable public network, which was launched March 31, 2015 and runs continuously for almost two years.

Later, in 2017, should see the update Catapult - NEM go with each one of us ++ Java. The first big update will take place in private Mijin chain, and then - in the NEM public chain. To date, our core developers are working hard on updating the Catapult C ++ and Java support for the current network.

NEM Platform received strong support from the Malaysia government and aims to become an anchor blockchain technology in Malaysia. NEM will be used in many applications (non-fintech and fintech), which solve real problems and improve business processes.

We see the implementation of private circuits for corporations and governments. We hope that some developing countries would prefer NEM as a technology platform for creating payment solutions, citizen registry and land registry.
In this area, there are various projects that I can not speak. Public announcements will be made after the relevant stakeholders are ready to do it.

Search for your transaction on here: See if it went to correct address:

http://chain.nem.ninja/#/blocks/0

At that time the cost of a supernode would be $3,000,000.  Perhaps the devs would reduce the minimum balance as an incentive or change the daily reward.

Yes, good point.  That I didn't factor into my calculation. Thanks.

From delegated harvesting for Feb - 543.99
For delegated harvesting for the first week of March - 221.26

It depends on the number of transactions on the network (the previous week has seen a lot of transactions) and the importance of your account to the NEM cloud.

Also if you run a supernode, you'd be earning between 400-500 XEM daily as a node reward payout.  

If there does come a time when XEM is at $1, that's almost $500 a day earned running a supernode, however, there is the temptation to sell all supernode XEM at that price to make $3,000,000 or alternatively continue to receive ~$500 a day.  

I predict that there will be some supernodes that would sell up, however, this would increase the daily reward share of 70,000 XEM.

Hypothetical example -  IF 400 of the 500 supernodes sell up, then the remaining supernodes would be earning $7,000 a day.   This would equate to $2,555,000 every year assuming the price stays the same.

Try asking on the NEM tech support forum - https://forum.nem.io/c/tech-support

Interesting.  I particularly like the part below, seems like NEM is now getting the much wider recognition it deserves:

Tech Bureau’s NEM Blockchain has also been utilized in creating administrative services in the past, where the Apostille tool within NEM was used to create “Landstead,” a land and property registry. Interestingly, the project was part of a hackathon and was undertaken in a span of just one week.

“Japan has been a world-renowned exporter of technology for decades. It is interesting to see that the country is now taking lead in the Blockchain space as well.”

We have already covered Tech Bureau’s efforts to create a point system with Hitachi recently using Mijin. Now Mijin is also getting positive attention from other countries like US, Thailand, Laos, Korea, Singapore, Indonesia and the Philippines.

If Japanese Blockchain technology can be used to simplify administrative processes securely, it will surely take some sting out of the long-drawn bureaucratic process and make life easier for weary citizens of many countries who are burdened with civic processes that are expensive, cumbersome and involve the gauntlet of collecting stamps and signatures.

Full explanation is on below link:

https://blog.nem.io/how-local-and-delegated-harvesting-works/

In delegated harvesting, you still own your XEM, but you delegate the harvesting function to a remote node (can be your own supernode hosted in the cloud if you prefer).  You can power off your local wallet and still continue to harvest, and any harvest XEM will go into your local wallet.

If you can afford 3M XEM, a supernode is a better option to earn daily XEM. 

Then all supernode owners will become multi-millionaires.

When the market cap reaches $8,999,999,999.

https://drive.google.com/file/d/0B_jImF0AZXu-aC1qSjYxdE9hVnM/view  (full document)

Extract below from Bloomberg, Bank of America, Merrill Lynch Global Research:

A wide variety of large-scale, sophisticated systems could be built on the Mijin platform, including point program services, account settlement, online gaming, mileage programs, insurance, and transactions at financial and government institutions. Mijin processing capacity among geographically separated nodes at end-2015 was 25 transactions a second and the aim is to achieve 100 transactions a second by end-2016. That jumps to more than several thousand a second when used with private blockchains, on a par with
credit card company systems.

Three core developers behind the New Economy Movement (NEM) virtual currency have joined forces with Tech Bureau to work on developing Mijin as a private blockchain
solution. NEM is a next-generation blockchain project that natively supports multisignature accounts, NameSpace (used to manage multiple assets), and Mosaic functionality, all of which are blockchain-based technologies utilizing APIs for easy handling.

Mijin is a private blockchain technology developed at Tech Bureau by the core developers behind the open source public blockchain technology underpinning NEM, which is a next-generation blockchain project initially conceived in 2014.

Other derivative private blockchains are also attracting attention, including MultiChain from Bitcoin and Eris and HydraChain from Ethereum. Each solution differs by integration with third-party applications, processing speed, and other factors, but the verification and testing phase in each case is moving forward. We look for adoption in distribution, rights, contract, and oversight applications.


Table 6: Relationship between primary public blockchains and private blockchains

Public Block Chain        Description                                                                          Private Block Chain

Bitcoin                          The largest transaction platform in the public blockchain                MultiChain

Ethereum                      Proceeding in the area of smart-contract                                     Eris

Ethereum                      Proceeding in the area of smart-contract                                     HydraChain

NEM                             Industry standard API holder and integrating external application     Mijin

Source: Bloomberg, BofA Merrill Lynch Global Research

Seeing some big jumps in price for XEM on coinmarketcap. +22.88% at time of writing.

I think it will level out at around 300 - 350, then stabilise to pre Mid-June 2016 levels.

I a bit cheeky, but you could probably contact Richard Branson directly.  Richard Branson has a verified Twitter account under the handle @richardbranson. In addition, he can be contacted via post, care of Virgin Management at Virgin's head office in the UK.

Or there's their website:

https://www.virgin.com/become-a-virgin-business

He also has  a linkedin account, but you have to know his email address in order to connect with him.

Keep an eye on http://nemflash.com/ for updates on NEM.

A good opportunity to buy some.  If it goes down further buy some more.

I'm going to go for the free trial on cloud.eu and see how it goes, then sign up if all is well.  Other option is Amazon, but there seems to be too many options, I think EC2 free tier for 12 months is the other option, not sure of the price after the 12 months though.

Is their 1 Euro per month vmware spec suitable for a supernode?  

1 Core

Intel® Xeon® E5-2650L v3 - I believe this is 1.8 Ghz
1 GB RAM
20 GB SSD Storage
2 TB/month data transfer
vmware powered

Running on Linux

I bought my stake at 10 NXT, this was in January 2014.  My wife was a latecomer, and I think she had to pay around 0.1 BTC for her stake, which at the time was around $44.