I've never really looked into Ripple, but from what I know about it, it's the complete opposite of Nem in terms of distribution. But if we had it's market cap, then one million Nems would be worth $211,767.48.
I mean, I was just checking out the current marketcap to compare things, hoping that a Nem stake would be worth at least $5,000 and be happy with that. But then I looked at Ripple and thought it's a really long shot, but why not? Anything is possible.
Perhaps NXT didn't reach similar market cap because of the fear of those who were not original stake holders, but Nem doesn't have that problem.
Different times though, so I don't know.
As far as a tech and app goes, Ripple is very slick. Much better than any alt coin. At the same time it's not truly descentralized which is a HUGE no go in the community. It also takes a step backwards to many because it requires trust. In some ways, it is a "realistic" compromise. The type of thing governments or big banks might like, and that is part of the reason it's so hated. Right now banks and governments are angainst the blockchain, and the crypto community is against centralization and trust. That puts Ripple in a no mans land. It's great tech but nobody wants to support it. It's a very long shot. NEM will have a great community. And has a chance to be just as good as anything else at there! In some ways NEM is the most exciting thing on the horizon. Definitely in the next few months. Ripple has been misspercieved and bashed. So much FUD has been spread that hardly anyone knows what's true anymore. It's also a more complex system which requires people to do some more research and most people just don't do that and simply decide to hate it instead. I looked into Ripple a few months ago and here's how i understood it (may not be correct 100%): Ripple is afaik decentralized it just isn't currently used that way by the majority of people. Currently it's more like distributed. The ripple client is a thin client that's why it relies on servers and that's why people say it's not decentralized but the truth is anyone can run a ripple server. The only difference between Ripple and any alt is that most alt-clients contain server and client. NEM will also support thin clients does that make it centralized ? I hardly think so. The consensus in the Ripple-Network is reached by validators I'm not sure how that works but I don't think it's relevant for this point. Trust is something that could be an issue but if you look at the big picture it's not much different than with bitcoin or any alt it just deals with it in a different way. If you buy bitcoins from an exchange you trust that exchange don't you ? Would you deposit money on an exchange that you don't trust ? If you wan't to trade on what's called a gateway in Ripple you need to trust that gateway in the ripple client. What most people are worried about is "rippling" which is a way more complex topic and people should read up on that themselves but I want to menion that you can disable rippling. You can also remove the trust again at any time. Ripple is way cooler and more sophisticated than it's being given credit for. It could actually do a lot for the entire cryptoscene since it supports any form of currency but the crypto scene is to busy bashing it. |
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As NEM is being build from the ground up, would this be a problem for exchanges to add NEM?
Everything that's not a Bitcoin clone requires custom implementation, just as NXT. Thus it is indeed harder for exchanges to implement Nxt/Nem. Nothing to worry much about, though. Those exchanges that added Nxt earlier will most likely be able to add Nem quickly. one of the devs should write up a "how to" sort of thing to help exchanges to implement support for nem.. or set a large bounty for the first 2 exchanges with large volume(has to be above x amount of trade per day) that implement it.... perhaps the nem community should work on its own exchange like dgex. i think it may be vital if no exchanges can implement it... but please for the love of god make it look and work better then dgex. it looks dreadfully bad... i saw it in december and instantly thought it was a scam site. set bounty for that too.. also someone should get working on a multipool so it is ready for launch when the coin launches! a good multipool will be a huge boost at the start too! SET A BOUNTY FOR IT! i will say now i will donate nem towards 1) multipool (50,000 nem) (following conditions must be met) a) support for all types of mining b) i will only give the bounty out once it reaches (some one inject a healthy amount of hashing power, nothing ridiculous, but not small ether) c) very user friendly UI 2) Nem exchange (50,000 NEM) (btc <> Nem) (assuming btc <> Nem isnt supported in client AT LAUNCH) a) user friendly NOT like dgex b) safe NOT like cryptsy 3) first and second exchange to support NEM (50,000 Nem first, 30,000 second) (exchanges to include only exchanges with decent volume(someone inject exchanges please) 4) first nem related app on apple i-store and android-store to get (100,000 unique downloads(someone correct me if 100,000 isnt much?) (30,000 nem to each app developer) a) must have links/info about nem, how to buy nem and what it is for ect... conditions of bounties subject to change at. i have many other ideas for bounties so if other people are willing to help with bounties i will do more! +1 i hope devs are working on bounties. I'm ready to donate. Maybe devs can make a donor list, for everybody who wants to donate NONE OF WHAT I'M ABOUT TO SAY IS SET IN STONE SO DON'T TAKE IT AS GUARANTEE FOR ANYTHING. IN FACT EXPECT THE COMPLETE OPOSITE SO YOUR NOT DISSAPOINTED 2 exchanges have already communicated their interrest to implement NEM (I won't name them because nothing is sure and what not), which goes to show that NEM really does stirr things up and has great potential. So far however nothing concrete has been done in that regard because the team is working on getting the alpha ready. It's being discussed. Our own exchange is being discussed as well and the plan is to have one but so far it's just being discussed. |
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Thanks for the update and great work team !
I have a question though regarding the change of blocktimes.
Are POS blocks being generated freuquently enough to keep the fast transactions times even if POW blocks are generated only every 10?
The collisions you mentioned suggest that that is the case but I wanted to ask anyway.
I always love how fast a transaction is confirmed with CGB and I'd hate to see that being turned into the snail pace we know from BTC.
Very good point you bring up. Maintaining the speed of CGB transaction times is one of our primary concerns as well. PoS block time will target 1 minute and with the allowance for daily staking (interest earning), more PoS blocks will be ocuring acting to speed transactions and to better secure the CGB network. One think I would like to be careful to highlight is that these changes would NOT affect inflation. The 0.5% inflation through PoW mining would remain despite a reward increase of 10x because the generation time would equally multiply by 10x. Also the coin age of 90 days to earn 1.5% annually would remain in tact. The min age of 30 days to earn 1.2% annual interest would be superseded by a min age of 1 day to earn 1% annual interest. Again, this daily min age for staking would populate the network with more PoS blocks to both speed the transaction time and better secure the network. Thank you for clearing that up. I hope it works out as intended. |
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Is it just a clone of NXT client?
Pure clone. if you use your nxt password on nas, you can lose your nxt coins. Plus it's still unclear if it solves the anti-clone traps that are supposedly in nxt code. How would that happen ? Are they using the same blockchain ? |
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CGB Core Team Weekly Update – April 1, 2014Please also see the Reddit post for further discussion.We are please to be able to report that smooth progress is being made with both our next CGB client software update, but also with the official CGB website and Reddit presence. Artiface has incorporated the latest Novacoin upgrades appropriate for the CGB client software including coin control features that allow selecting which inputs to use when sending coins. Also expected for next release is automatic PoS check-pointing, visualization of minting, time to next mint, GUI unlock, and more. We are also in the investigating and planning stages of considering a change to the PoW and PoS logistics with the greatest emphasis put on maintaining the inflationary profile. In the interest of open collaboration, we would like to elaborate on this topic by first describing our thoughts and progress. Two drivers motivate these investigations. One is that our current PoW block target of one minute is too frequently causing collisions with the PoS blocks. While this is not a security risk, it does cause inefficiencies in the network. Second is that while we have the chance, we would like to study the possibility of reducing the minimum coin age for minting to increase participation in the network's security. For the collision issue, we are considering bumping the PoW block time from every minute to a maximum of every ten minutes while multiplying the reward by ten. The PoS minimum coin age could be reduced to as low as daily while rewarding with a 1% rate while leaving the maximum coin age at 90 days with a reward rate of 1.5%. We very much appreciate any input or analysis that we can get from the community especially in comparison to how other coins may be doing it better. Much work has been done to the official CGB website over the weekend. In addition to the marketing strategy, the CGB Community Powered Promotion campaign has also been formalized on the marketing page of the website. I have added brand guidance which will be expanded upon, as well as a gallery of both official CGB images and community produced content. Throughout the site and on the Reddit sidebar there is now a link to “ Promote CGB! Rally Point.” This leads active CGB community members to the /r/GotCrypto subReddit, a place for posting and discussion of various opportunities and material which are of interest to those who wish to promote CGB. The CGB Resources section of the website has been completely updated to be a one-stop shop for anything one would need, to learn about, use, and promote, Cryptogenic Bullion. The community section has also been updated but is still far from its potential. Under a section called Support CGB, we have included a link to our community driven effort to translate CGB's new website! I would like to thank spac3_invad3r for bringing this up and stepping forward to help organize this monumental task! We must ask that all community members who are able to translate our website from English to any other language consider helping us to maintain our proud history of broad multilingual support. April is an exciting month for Cryptogenic Bullion as we look forward to releasing the new client version, completing development of the website, and celebrating the addition of CGB to the Vault of Satoshi exchange supporting direct CAD or USD exchange with CGB. In the near term we also plan to bring some more advanced new features and a more modern branded look to the CGB client software. Finally, I believe by now the downward trend identified in this chart ( feb analysis) has intersected the long term 0.001CGB/BTC buying support line. In technical analysis we would expect a high level of volatility when two trends, or forces, oppose each other until a breakout is sustained one way or the other. This is certainly going to be an exciting month! The CGB Core Team Thanks for the update and great work team ! I have a question though regarding the change of blocktimes. Are POS blocks being generated freuquently enough to keep the fast transactions times even if POW blocks are generated only every 10? The collisions you mentioned suggest that that is the case but I wanted to ask anyway. I always love how fast a transaction is confirmed with CGB and I'd hate to see that being turned into the snail pace we know from BTC. |
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Nas a fork of nxt launched on March 31,don't know is good or bad for our nem
Show me the post of NAS, please! How about that. Wonder how it will perform. |
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what is "alpha client"? its like a test client with "play money" to check how all the feautures work?
pretty much yeah. |
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I've kicked Keengamerstain and added you in his place. |
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I didn't say NXT had a negative start. I said the only partially released source had a negative effect. So what I'm actually saying is that the NXT start could have been even better imho. With the at least partialy closed source it had kind of a bitter aftertaste.
There is no evidence this is true. This is pure speculation. If there were clones of Nxt back in November just after IPO ended, I would say Nxt would not be where it is to say. It would be way down. Of course this is speculation. Unless you own a crystall ball we'll never know  |
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I waited what impact will have releasing of NXT code. The community thought that it will drive the price up, but in reality it did nothing for NXT, just many people trying to copy it. They didnt, but I heard those people saying they are not going to copy NXT code because it is strangely written.
Not sure how important releasing of code is, but think we should do something to prevent copying it.
First rule of economy says that resources are limited, thats what gives them value.
NEM must be valuebale. I totally stopped caring for 1.gen crypto, just because how much of them is in existence. Dont let that happend to NEM.
You're right the source release had no positive effect for NXT regarding the price. I think that witholding however did have an effect - a negative one. Nxt didn't have "negative" start. They had the biggest gain in the history of ALTCOINS, ever. They turned 21 BTC to almost 100,000 BTC. The prices have dropped since releasing the code. If there was anything that had negative impact, it was the fact that it was different and required exchanges to do some work to add it -- not a single exchange that eventually added Nxt cared about code. Cryptsy owners still seem to think it's closed source, even though he added it to cryptsy. Things have really changed in the last 2 months. It's much harder now to distinguish yourself from hundreds of coins. Every week there are dozen more crapcoins released. I think you will find it will be hard this time to convince outsiders why they should even care about Nem when 100s of other coins are around. If you make it even more diluted with Nem clones, that will be just bad. I didn't say NXT had a negative start. I said the only partially released source had a negative effect. So what I'm actually saying is that the NXT start could have been even better imho. With the at least partialy closed source it had kind of a bitter aftertaste. |
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What is this talk about dropping members who have posted only once or a few times? I don't feel it would be that fair to people like me. I have no relevant skills to help out with the project, but I am following it closely as it really looks magnificent and well thought out and I feel there is great potential. I helped out by buying a stake for almost $80AUD, so why should I be kicked from the stakeholders list? I could post more frequently, but the posts wouldn't be of much use and would be buried by the more important stuff.
I understand that everyone is trying to make it the fairest it can be, however we need to be careful. A lot of legitimate new comers put real money into this and it would quite harsh to boot them. As I mentioned I put in almost $80AUD and shortly after the price dropped significantly (over 50%) as a bonus to the last few new comers. I don't mind as I really saw potential with the project and it looks like my investment is paying off, but I would be extremely sad and disappointed if I was kicked from the stakeholders list simply because I didn't post enough. I may not have much to show for on this forum, but I mean it doesn't mean I haven't talked to my friends and people at my uni about the coin.
This is my first cryptocurrency I've put some real (real to me as I don't have much) money into, and I really hope I get to stay a part of it. The developers are doing an outstanding job and the wallet mock-ups look great. I can't wait until the alpha comes.
It was the suggestion of one guy and one guy only. Utopianfuture has made the rules pretty clear, and from what I've seen he would be very against such a suggestion. It would not be fair at all to the legitimate stakeholders in the bunch. Being inactive will only byte you if you are a sockpuppet. If an account pops up during taint analysis and then also shows almost zero acitivity it is very likely to be a sockpuppet and that's when it may be refunded (depending on wether or not the person reacts to the accusation and in what way). |
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... btw, the word NEMber is inspired. Kudos to whoever coined it  Thx |
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Hello all, I have been following you for quite a long time and I would love to have your coin in our exchange, we are not like any other exchange that have full of silly worthless coins. At Binary Fund we choose our crypto currencies wisely, we do our best to investigate and research a coin before adding it. Only coins that we think may have a future are added to the exchange. We don’t accept bribes or have paid voting systems. We have very few coins and we like to keep it that way but we would like to have your coin with us. www.binaryfund.com has been in Beta version since a few days ago and we are fully functional now. Please take a look at our exchange and tell us what you think. We are based in London. Please see below the explanations of Binary fund features. WHAT IS BINARY FUND? Binary Fund is a state of the art exchange platform for crypto currencies. It has been developed to meet the needs of those new to trading and experienced traders alike. FEATURES •Secure coin storage. Every coin is send to a cold storage wallet so only the Binary Fund crew can access it. •Candle stick graphs for every market pair to view the price history. •We allow bank transfer to deposit fiat into your account without going through a third party. •We have trading pairs for trading with GBP, EUR and USD. •User friendly website with adjustable market pairs. You can hide market pairs you’re not interested in. •Withdrawal through PayPal and bank transfer. •Regular competitions with crypto prizes. •Lively and engaging chat. DESIGN Binary Fund is designed with the user in mind. Trading is laid out to make it as easy and powerful as possible. With a clean, clear, concise layout even new users will understand how the platform works in only a few minutes. www.binaryfund.comSounds very interesting. I'll post it to our trello board so noone misses it |
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I waited what impact will have releasing of NXT code. The community thought that it will drive the price up, but in reality it did nothing for NXT, just many people trying to copy it. They didnt, but I heard those people saying they are not going to copy NXT code because it is strangely written.
Not sure how important releasing of code is, but think we should do something to prevent copying it.
First rule of economy says that resources are limited, thats what gives them value.
NEM must be valuebale. I totally stopped caring for 1.gen crypto, just because how much of them is in existence. Dont let that happend to NEM.
You're right the source release had no positive effect for NXT regarding the price. I think that witholding however did have an effect - a negative one. |
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But think about it pat, the average user doesn't care about source code. Just look at the post two spots before this one. Don't you think there are some pros in Nem taking its time in releasing its source code?
Especially if we're honest about not releasing it soon. I feel most people would understand and appreciate the reason. Though it can attract trolls. But I just think the reputation of people behind Nem speaks for itself.
We already have at the very least over 1,500 stake holders, which is different than if we didn't have any and were trying to attract people.
People on the outside will focus on the community and the activity much more than a released a source code. They're not going to go, "This coin looks legit, there's a lot of action going on around it, but I won't join in because they haven't released the source code."
My point basically is that they're not going to care, and seeing 21+ new shitcoins released every week destroying cryptos really worries me. The greed, they saw what happened with Aurora and then and now we have countless country and city coins. Everything just gets copied and diluted.
Bitcoin had the advantage of years without competition. I would love if Nem has some time to establish itself.
Well like I said afaik it's still being discussed allthough I'm almost certain that alpha will have obfuscated binaries. The devs are following this thread so I'm sure all your points will be taken under consideration. I myself am still for open-source from the start but we'll see. |
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What are we going to do about cloners who would try to "release" clones even before beta tests are over?
I suggest keep the code obfuscated, at least enough time for Nem to establish itself. Something like 6 months. Perhaps release the full source code in January 2015
There has been a discussion about this and I'm not sure it's over yet. However I don't think keeping things closed source after the launch is a good idea. It has caused NXT a shitstorm and a bad perception. Look at all the clones that are trying to clone NXT. Has even 1 got a blockchian out ? It's just not that easy to clone a 2nd gen crypto |
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My name was removed from the stakeholder list even though i had a valid stake with a MEME. https://bitcointalk.org/index.php?topic=422129.msg4799088#msg4799088I was actually the first one to make a MEME. So i should have had a spot. 2. Promote NEM to receive a stake pot without fee
+ Link this thread to any public forums or social media sites such as twoplustwo and Reddit ; Facebook ; Twitter; tennis, sport, fitness, Flickr, Pininterest etc. anywhere with decent traffic so that people can hear about NEM ; or makes a comment in any crypto related articles so the readers know about NEM. You have to show proof of your work in your reply post in this thread, then you have reserved a stake spot. Please be considerate when you promote NEM to the outside community.
+ Make a logo, currency symbol for NEM and post in your reply thread, then you have reserved for a stake spot and you can also get a development stake spot. See bounties for more information.
+ Make a fun meme for NEM and post in your reply thread, then you have reserved for a stake spot. This condition temporarily stops since we had quite a few memes in the last 10 pages. Could make a comback later.
Can someone please look into this. I followed the rules, and should have a stake. IF its about money I will even pay a fee, even though i shouldn't have to, but I want to show my full support regardless. Thanks for listening. You are still on the list. |
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Srsly have you guys flocked together to annoy me  ? You are also on the list. Please use CTRL+F and notice the tabs at the bottom of the spreadsheet. Hah thanks and thanks for your snark. Maybe, if you take money from the community, the least you could do is put this on the OP to make your unintuitive setup clear to everyone instead of expecting everyone to wade through hundreds of pages? We are asking people to participate. You can always take your money back if you don't feel like you can contribute. I want to contribute and have the resources to do so, but it doesn't feel like the creators appreciate it or wants to make it easier for those in the crypto-community who have been there long and genuinely want to contribute something. Every help and contribution is very much appreciated. My comment wasn't supposed to be as negative as you seem to have perceived it. I thought the fat smiley would be enough to soften it but clearly that has failed What is it exactly that you think is a big barrier that hinders people from contributing to NEM ? |
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@ devs..
will nem be turing complete or have automated transactions? i think this is a vital feature for 2nd gen coins!
bump! utopianfuture or patmast3r can either of you answer? if you want to compete with nxt then you will need this.. otherwise you will only ever be 2nd to nxt.. I've asked jaguar to answer your question as I think he's best suited to do so |
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Re: Proposal from a macroeconomist for an optimal crypto-currency
Today at 12:10:22 PM
#37
Quote from: zeronominal
"There seem to be two proposals, neither of which seem like particularly good ideas:
1) Proposal for hybrid POS/PON: Non-linear proof of stake rewards. Rewards are effectively per account up to a threshold. Seems ripe for exploitation by botnets.
2) Proposal for POI: Seems to be the Google Page Rank algorithm (i.e. Principal Components) with transactions replacing links between webpages, and the sum of coin ages replacing the content quality measure (i.e. the prior distribution over nodes). Seems equally vulnerable to exploitation by botnets. (Suppose there are N legitimate nodes, all trading, N botnet nodes, not trading, and 1 master node for the botnet. The botnet nodes have arbitrarily old coins so receive substantial weight, despite their lack of any trading except with the master. All of this weight then flows to the 1 master node for the botnet, who must then get the highest "PageRank" in the network.) In any case, rewarding old coins is the opposite of what you want to do. The existence of old coins implies that the currency isn't actually being used! By rewarding old coins you're effectively taxing transactions, which imposes a large efficiency cost."
Hmm, could our dev take a look at this subject?
I would not answer in any detail about this because the algorithm is under refinement. Comments are welcomed AFTER the white paper is published. I do want to ease it up a bit so noone is worried about POI being oh so vulnerable. POI will consist of multiple factors that determine the "importance" of a node to the network. It's not only pon, it's not only pos and also not only a combionation of the two. The detailes are still being balanced out and like UP said people should only comment on it after the actual whitepaper is out. So relax and have faith in the devs |
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