the sooner NEM can be untied to NXT, the better..
what is happening with NXT right now is another good lesson to learn from.. well first of all the lesson is don't get hacked if you're an exchange and secondly, don't perform a rollback or hardfork for an exchange. it would just blemish the reputation of your coin, ala the great Vericoin bailout of '14.
This wasn't a fault of the coin though. It was the exchange. This is why it's important nem gets on a number of equally popular exchanges on release. One exchange monopolizing the volumes can go belly up if they make even a simple mistake. |
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Free fall  When you're dealing with currencies not backed by anything, yeah, this is quite common. As crypto's are taken more seriously (Especially with the arrival of non-PoW currencies) i think prices will rise and thus stabilize as time goes on. Even better if there's some backing from the precious metal communities. However, even a little bit of experience tells you that provided the drop is not caused by something serious - say, faulty code or an exploit in said code - no doubt ,the coin will bounce back. Most do. These are but minor ripples in the ocean that is crypto. The problem is people let panic and fear effect their judgement far too much - they get preoccupied with the more immediate and obvious trivialities and don't broaden their view outward. Well I will tell you one thing, if we don;t launch in September... What if we dont? If we don't launch in september, i'm not going to be bothered - why? Because they've delivered on an alpha client and have shown on many occasions their dedication and seriousness to the project. Provided transparency is kept and the people are informed as to why there is a delay, i do not view this as a concern. Without transparency, all people rely upon is conjecture and assumptions (often spearheaded by people like CFA for their own gains/agenda). This is when you start seeing panic sells/buys and other such movements, of which can threaten the project. Transparency is crucial and compared to many coins, i believe NEM is doing exceptionally well -- especially as Utopian obviously didn't quite grasp this, which was delt with accordingly and swiftly. If you think people are not going to be disappointed if we don;t launch in september I have a bridge I would like to sell you. I never said they wouldn't be disappointed. I'd be disappointed to - what i said was, provided there are legitimate reasons for such, it doesn't faze me at all. I'd much rather have a rock solid platform now which helps promote confidence then something thats breaking at the seams and only further promotes doubt and fear - the very reason why so many are suspicious of crypto's in the first place. |
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Free fall When you're dealing with currencies not backed by anything, yeah, this is quite common. As crypto's are taken more seriously (Especially with the arrival of non-PoW currencies) i think prices will rise and thus stabilize as time goes on. Even better if there's some backing from the precious metal communities. However, even a little bit of experience tells you that provided the drop is not caused by something serious - say, faulty code or an exploit in said code - no doubt ,the coin will bounce back. Most do. These are but minor ripples in the ocean that is crypto. The problem is people let panic and fear effect their judgement far too much - they get preoccupied with the more immediate and obvious trivialities and don't broaden their view outward. Well I will tell you one thing, if we don;t launch in September... What if we dont? If we don't launch in september, i'm not going to be bothered - why? Because they've delivered on an alpha client and have shown on many occasions their dedication and seriousness to the project. Provided transparency is kept and the people are informed as to why there is a delay, i do not view this as a concern. Considering NEM has newsletters and other such sites, concise, and clear communication to a wider audience is obviously their aim. Without transparency, all people rely upon is conjecture and assumptions (often spearheaded by people like CFA for their own gains/agenda). This is when you start seeing panic sells/buys and other such movements, of which can threaten the project. Transparency is crucial and compared to many coins, i believe NEM is doing exceptionally well -- especially as Utopian obviously didn't quite grasp this, which was delt with accordingly and swiftly. |
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Free fall When you're dealing with currencies not backed by anything, yeah, this is quite common. As crypto's are taken more seriously (Especially with the arrival of non-PoW currencies) i think prices will rise and thus stabilize as time goes on. Even better if there's some backing from the precious metal communities. However, even a little bit of experience tells you that provided the drop is not caused by something serious - say, faulty code or an exploit in said code - no doubt ,the coin will bounce back. Most do. These are but minor ripples in the ocean that is crypto. The problem is people let panic and fear effect their judgement far too much - they get preoccupied with the more immediate and obvious trivialities and don't broaden their view outward. |
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If there is a lesson for NEM in this NXT hack, that do not let a single exchange monopolize NEM trading volume.
I have to agree with this statement. It's very important NEM gets on as many exchanges as possible in it's infancy to prevent exchanges from potentially causing it harm through negligence or maliciousness. Ideally, i'd like to see NEM on at least 2 or 3 popular, reputable exchanges on release. |
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That seriously made me laugh. |
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If we have a 0.1 portion of a stake on the AE we don't ***HAVE*** to do anything right? Just wait for the release?
Pretty much yes. But on release the stakes have to be sent to whomever redeems them for NEM coins. There will be a time limit in which to get this done. After that time limit, NemStake will be worthless. This is the point where you'll likely see many scammers trying to steal peoples nemstakes by spreading misinformation. But i'm sure with a bit of thought, there's no reason to be concerned. |
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There was a panic dump when Patmast3r said that the official launch would be in November (later clarified that launch =/= official launch but alas it was too late).
I don't necessarily see it being a bad thing as the more weak hands which are eliminated the more presumed stability when NEM is released and that is a good thing. We may disagree with bad distribution but some of those poorly distributed coins can be stable or appreciating especially when held by whale(s) who never sell. For any coin, getting rid of the weak hands and promoting holding should be a priority especially in an early stage as many newcomers don't want to buy into a coin losing value. Everyone wants to be a winner in cryptos even though that might contradict reality.
We saw what happened in the first weeks of the asset exchange, a lot of weak hands were eager to let go of a stake worth $1000+ when they had bought it initially for $2 - $50. If there was no asset exchange, these people would had dumped at launch and then NEM would have immediate PR concerns in trying to persuade people to buy a coin that people are dumping (which is an uphill battle, by the way). It's better to get rid of the weak hands now than at some hypothetical post-launch period.
I agree with almost all of what you say apart from me saying we launch novemeber. I don't think i ever said that  Anyway there is another reason why I think all the impatience is absolute nonsense. All you impatient folks please answer me this question - What would you do with your NEMs if you had them right now ? Sell ? - Get a token on the AE and do it there. Send around just for fun - Check out the alpha. What else ? Can you think of anything ? Why should we launch NEM now if there is no utility yet ? Don't get me wrong we are trying to launch as soon as possible (and we're aiming pre novemeber) but there is really no reason to rush it. Look at NODE. They launched. Now what ? No exchange, noone accepts NODE, there is 0 people can do with their NODEs right now. I don't mean to hate on NODE but it's a perfect example of why an earlier launch doesn't necessariliy make a lot of sense. Although i agree with you, i'm just making a post to remind you that there are individuals who follow NEM, who are stakeholders, who are in absolutely no rush at all. As you've already said, the minority who cause a stir are doing so for one thing; to dump. They're the weak hands who's only purpose on board the project was to turn over a quick buck. There's plenty on less vocal individuals who follow this forum - myself included - who intend to be in this for the long term. |
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They already had $1 million before coindesk article and a thread on BTT. Where's this money coming from? Maidsafe IPO had laundered MtGox Bitcoins and Maidsafe corporation and angel investors buying their own coin and that went to $8 million. What happened to Maidsafe? Well the volume afterwards became a joke because 99% of it was all internal buying.
Ethereum has the Goldmansach's connection and they presumably have angel investors with deep pockets. They're making it look like Ethereum actually has demand and a following but we know the opposite to be true - Ethereum forum is essentially dead, almost nobody talks about it on Bitcointalk (and those who did hate it), so Ethereum in a nutshell is another ponzi scheme ran by a few wealthy investors and they're going the copywrighting route like Mastercoin and Maxcoin (spamming lame articles and videos all over the place).
Exactly. And in truth, most people see this. The whole "buzz" about ethereum is artificially created.
@patmast3r - Your point is absolutely taken, I'm just trying to constantly remind everyone how low the bar really is, so where possible let's make strategic decisions. In this case I think people just wanted a solid justification for the "latest and greatest" tendency concern, which has now been given. That certainly wasn't a jab at the devs, whom I respect. Just don't forget how mind bendingly inefficient the average person is on a piece of technology. Statements like "this will someday replace fiat" require the minimum amount of barriers. As you said, that time frame is much larger than the small window of struggle we are seeing here, so acknowledged.
You voice speaks for mine too. Most people havn't the patience to understand what most of us here consider extremely basic PC skills. However, in due time, this will change. Nonetheless, the more accessible we can make NEM the better. But i also think it is important to give nem more advanced features for those who choose that option - options of course, are massively important. |
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I thought i'd share this here: http://www.cryptocoinsnews.com/news/gold-companies-rushing-bitcoin/2014/07/11I've no idea of the accuracy or legitimacy of the article, but if true, this is absolutely HUGE news - for all crypto's. I'm one of those individuals who believes Gold and Silver are real money - Crypto's are a very nice solution to a monetary system that is flawed, but crypto's are themselves flawed in the sense that their value isn't backed by anything. If we get crypto's backed by Gold and other real, tangible assets (You seriously can't get better then gold or silver, though) Then, well, these are very exciting times indeed. I've faith that Crypto's are a solution to the current monetary system we are enslaved by, but it needs something like Gold and Silver to gain the confidence and stability they deserve. this is Really Huge News! Gold is money for dudes riding on horses and living in houses made of stone and dirt. Bitcoin is money for people riding the information highway and living on the 16th floor in a city of millions. You have absolutely no idea what wealth or value really is do you? Don't worry, you're not alone. Thats the tragedy of this entire situation, and ironically why Crypto's exist in the first place. It's precisely peoples ignorance of value, currency or money that they've been exploited with a FIAT system for so long. That exploitation is what lead to a loss of faith in FIAT's and people seeking out alternatives -- Bitcoin. Cryptocurrency is the best solution to the fiat system we have today, but nothing ever tops gold as a store of value. gold or silver getting into cryptocurrency is going to help stabilize their value, and give confidence and faith in them as currencies. |
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I thought i'd share this here: http://www.cryptocoinsnews.com/news/gold-companies-rushing-bitcoin/2014/07/11I've no idea of the accuracy or legitimacy of the article, but if true, this is absolutely HUGE news - for all crypto's. I'm one of those individuals who believes Gold and Silver are real money - Crypto's are a very nice solution to a monetary system that is flawed, but crypto's are themselves flawed in the sense that their value isn't backed by anything. If we get crypto's backed by Gold and other real, tangible assets (You seriously can't get better then gold or silver, though) Then, well, these are very exciting times indeed. I've faith that Crypto's are a solution to the current monetary system we are enslaved by, but it needs something like Gold and Silver to gain the confidence and stability they deserve. |
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At the release of exo in september 2015 the value of one bitcoin will be 12,500 USD making exo a 1 billion market cap coin right at the release. :O
You know, all this waiting "ain't funny no more". What IF we see a release somewhere in September and Bitcoin has sky rocketed. We would hardly get any reasonable amount of BTC out of this. Explanation: If we would have a had a release in june / july, we might have gotten 20x IPO (example), so that's 30 BTC early-bird max. first round investment (market price now $18,000), later when BTC rises to $3,500 (example), that would have gotten you $105,000. I think BTC is low right now and I expect a rise late august / september. It would be quite sour if we have an eXo release at the highest point of BTC... We would completely miss the possible BTC rise  So long story short, you're in it to dump. |
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Im not concerned about delays. i'm concerned about a solid outcome that delivers.
And yes, i invested.
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http://techcrunch.com/2014/07/12/money-at-our-fingertips/Take special notice of the bits around mobile. Personally, I don't like the idea of having some sort of RFID thing that can be used for purchases or my fingerprint because conversely it can be used to track everything I do, but the average Joe is all too happy to trade freedom for convenience, and I have to keep reminding myself when I think of cryptos my views don't reflect the vast majority's views. This is all food for thought when we consider where to place our efforts in this platform. I have been banging the mobile drum the whole time and will continue to do so. When you can "bump" your phone with your buddy to get him/her back for the beer they got you or whatever, people will use it like crazy. Look, even if you don't replace fiat, if folks can use it in leiu of fiat while out clubbing or whatever and deal with the back conversion at home it will be huge. Much easier than fussing with your bank or cash or whatever while you our out. How often do people have to track the IOUs while out with friends? Who doesn't have a mobile? Solve that problem with tools already in the toolkit and it will jump in value against fiat as its usefulness as a "wooden nickel" system becomes obvious. I think grass roots is much more likely to succeed in this particular aspect as opposed to some sort of "forced" centralized big bank approach (the discussion earlier about Amazon's p2p currency) because it feels lax which is perfect for a "social" currency. your views expressed here reflect my views too at least. agree with all this. |
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god dammit. "its a clone of nxt". nothing mentioned about the innovations. did didnt do any research what so ever. that article does more bad than it does good. You'd think that if they're savvy enough to invest, they'd also go to a little effort to actually follow the very threads in which the coin was deployed. |
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your cryptocobain on Twitter right? Can I ask wby coins like vert and red get mentioned 24/7 when they rise 10% but when nxt does 3fold in 3 weeks, it's never mentioned once? I'd love to hear why nxt gets a media black out but shitcoins are talked about 24/7? I guess nem will get the same treatment?
aye that's me. personally i hated NXT's distribution model, got terrible press due to that and due to it's closed-source launch. Although i completely get (and agree with) your point. Isn't it rather unfair to have any bias when covering anything crypto-related in terms of news? This is after all, why many people have a growing distrust of journalism(ists) and news sites in general. It also seems against your interests too - if NXT coin, for example, suddenly became the talk of the crypto world (For whatever reason) you've potentially missed out on a large bunch of traffic because of your dislike of a currency, and stance to not report on it. Just seems wrong to pick and choose especially when it comes to any sudden increases in currency valuation. Nonetheless, the vast majority in the NEM camp likely share your perspective regarding NXT's IPO. I know i do; in your shoes though, i'd still make any relevant reports as unbiased as possible. And btw, Nirvana is awesome. ?? i'm not a journalist or a news site. i'm just a guy that trades coins. I see. I was under the impression you did it professionally - my mistake. (Probably quite obvious i'm not a follower. In fact, i don't even use twitter). |
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Alright mates how the fuck do I get myself one of them NEM token things? I'm on the ol' stakeholder list, just wondering how I claim it and I'm too lazy to search.
stake asset claims have been temporarily halted as far as im aware. its in response to scammers trying (and a minority) suceeding in their attempts alrighty then waiting it is cheers your cryptocobain on Twitter right? Can I ask wby coins like vert and red get mentioned 24/7 when they rise 10% but when nxt does 3fold in 3 weeks, it's never mentioned once? I'd love to hear why nxt gets a media black out but shitcoins are talked about 24/7? I guess nem will get the same treatment? aye that's me. personally i hated NXT's distribution model, got terrible press due to that and due to it's closed-source launch. Although i completely get (and agree with) your point. Isn't it rather unfair to have any bias when covering anything crypto-related in terms of news? This is after all, why many people have a growing distrust of journalism(ists) and news sites in general. It also seems against your interests too - if NXT coin, for example, suddenly became the talk of the crypto world (For whatever reason) you've potentially missed out on a large bunch of traffic because of your dislike of a currency, and stance to not report on it. Just seems wrong to pick and choose especially when it comes to any sudden increases in currency valuation. Nonetheless, the vast majority in the NEM camp likely share your perspective regarding NXT's IPO. I know i do; in your shoes though, i'd still make any relevant reports as unbiased as possible. And btw, Nirvana is awesome. |
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Alright mates how the fuck do I get myself one of them NEM token things? I'm on the ol' stakeholder list, just wondering how I claim it and I'm too lazy to search.
stake asset claims have been temporarily halted as far as im aware. its in response to scammers trying (and a minority) suceeding in their attempts |
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Probably asked a million times, but here goes:
Anyone have any sense on what a 1.5/1/0.5 bitcoin investment will provide in EXO? Say, in the first stage?
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