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well that's some good news, finally what we've all been screaming about. I've always thought that we are in a critical time right now, we could lose our gains to some up and comer and be forgotten in a second because of how the market is. You can kind of already see that with the volume, 3 million is pathetic. So I'm glad they recognize that time is critical and are taking steps to improve our condition instead of ignore it. |
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I know many of us are counting on catapult to give nem a big kick in the pants back up to the top 5 or at least raise the price, but what if it doesn't?
What if nobody cares that it's released and daily volume stays low ($3 mil is awful).
What if nem's rise to the top 5 was nothing but a p&d, the big players have made their money and moved on?
we had next to no interest for a long time, hit a giant spike over the span of a month, then are now back down to no volume and interest again.
I hope nem has some meteoric rise, but the longer time goes by the more I'm wondering if that rise has already come and gone.
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looks like the markets are starting to rebound today, so that's good.
I'm still troubled by the lack of volume. I just don't see how we can have this kind of marketcap with barely 6 million in usd worth of transactions.
I know the typical reason given here is "miners don't have to sell to pay for costs" but there has to be more to it than just that.
There are plenty of coins where it's hard to mine a block much less enough to profit on, and they have tens to hundreds of million in volume per day.
So what do you guys think the reason is? I'm sure no mining is a part of it, but not the entire reason.
Are people really holding that much that there isn't a whole lot out there to buy and sell?
is there just not much interest?
what is everyone's thoughts?
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ether won't die, but it can be knocked down a few pegs.
If ether's failure is a big reason for their large decline, due to smart contract issues, bloated blockchains, and other crap (dao hack, etc)
then the only smart replacement would be NEM. That doesn't mean that the market would see it that way, because NEM's marketing team sucks.. but it can do smart contracts, namespaces, mosaics, public and private blockchains, and soon will be re-released in C++ (catapult) Not to mention that once catapult is released, it will be thoroughly tested and vetted. It will be released for the private blockchains first, then public later.. I'm excited because it really can/will be able to do soo much. But it all hinges on IF it can manage to catch on, which is no sure thing.
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There's a lot of brand new and recent negativity over Ethereum (but I was pointing out their problems for a couple of years). The blockchain bloat and technical problems weren't new but now (last 48 hours) people are pointing out all the blockchain bloat and sham ICOs. Etheruem price is tanking right now (moreso than NEM and other alternates!). Until a victor emerges from this, there is a possibility we may see renewed interest in NEM in July. To me, it seems like this is the time to buy NEM and hold NEM - because in July we could see new an all time high. When NEM goes up it goes up. We may even hit the orbit of Pluto if Ethereum implodes and all the capital flows into the NEM network. $1 NEM and higher could happen in 2017.  July looks like it will be a good time for strategic updates and market gains. Nice info, but it looks like ETH is a locomotive for all alts and it has a big impact on the whole altcoin market, like it or not... I wonder, what will happen if the ETH price will go back to ~0.05... At some point we need a new altcoin leader if ETH will show weakness  Now that ETH has trouble, It is time to show the world that NEM is much better than ETH and should be the reference cryptocurrency. That would be flippin awesome if nem had a well timed huge news release, showing how superior the tech is coupled with a large corporate agreement, or a big time update/upgrade (catapult) To steal even half of ether's marketcap would be absolutely huge... One can dream right? |
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There's a lot of brand new and recent negativity over Ethereum (but I was pointing out their problems for a couple of years). The blockchain bloat and technical problems weren't new but now (last 48 hours) people are pointing out all the blockchain bloat and sham ICOs. Etheruem price is tanking right now (moreso than NEM and other alternates!). Until a victor emerges from this, there is a possibility we may see renewed interest in NEM in July. To me, it seems like this is the time to buy NEM and hold NEM - because in July we could see new an all time high. When NEM goes up it goes up. We may even hit the orbit of Pluto if Ethereum implodes and all the capital flows into the NEM network. $1 NEM and higher could happen in 2017.
July looks like it will be a good time for strategic updates and market gains. Everyone is taking it right in the shorts this month, double digit downs are across the board, so not too worried about it. (ok a little worried) I hope you're right, but the only thing I take issue with is the bolded part. There's no guarantee that a significant amount of money would flow into nem if ether blew up. It could just as easily go to iota or another up and comer. Personally I don't see why anyone would buy ether at $400, it's history of poor security and other issues scared me off. That cost me a huge profit opportunity, but I think in the end I'll be proven right.. although with no money to show for it! I've said earlier, that now is a critical time for NEM, we run the risk of losing too much market share/awareness with the lack of info coming out. But at the same time, hype not delivered on would be as much if not more damaging. I guess the only thing to do is wait and hope for the best... it can be nerve wracking though. I don't doubt that we will see a rise again, but I wonder how much of one it will be. A meteoric ascent like ripple and ether is not outside the realm of possibility, but not very likely. (I don't mean to $300+ per nem, I mean 10 to 20+ billion in market cap) |
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 IMO many whales that are accumulating and early adopters that are cashing out have decided on a ~$0.20-0.25 price to buy/sell. Since the last rally, any time the price moves too much above or below this price, it quickly corrects back. That is the price point I decided to cash out 20% of my holdings back when it was below a penny. As soon as the early adopters are finished cashing out I'm guessing there will be another rally because there are no newly minted tokens entering the market from miners with electricity/hardware bills. You may be on to something, it does look like the price is being manipulated pretty heavily at this point. Hopefully it's because someone or someone(s) are stocking up for a big run up/pump. When nem was around .03 iirc, it would have some significant upward pressure every 4 or 8 days. look at the graph on cmc when it started rising and it was almost like clockwork. 4 or 8 days and we would reach new highs. That has stopped completely for this last month, and everytime it goes above .20 or below it seems to find its way back to around .195 or .20. As soon as it starts to make a upward climb it gets knocked right back down pretty quickly. I wonder where this will all lead. |
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Multiple new Nemers contacted me in private asking why I think it is better to buy XEM sooner than later. I have decided to answer them here.
So why NEM is expected to rise with rates much higher than any other crypto in history:
1- NEM community is constantly growing.
2- The crypto market is totally different today than any previous day in the past 6 years. The bull market is expected to sustain way much longer than any previous year.
3- BTC and Ethereum are expected to rise rapidly mainly due to Ethereum based tokens/ICOs, with that the whole crypto market cap is expected to grow rapidly.
3- As BTC and Ethereum continue rising there will be extremely high demand on diversifying assets. XEM will gain the majority of such diversification, the same if not more than what happened during Ripple spikes.
4- The majority of Ethereum tokens are over priced. Ethereum Tokens/ICOs investors will seek shelter sooner than later when at least 50% of Ethereum tokens starts to drop to their normal value.
5- On August 1st, a segment of the Bitcoin community will activate the BIP148 UASF. These users and miners will only accept Bitcoin blocks that signal support for Segregated Witness (SegWit), the protocol upgrade proposed by the Bitcoin Core development team. If, at that point, a majority of miners (by hash power) does not signal support for SegWit through BIP148, Bitcoin’s blockchain and currency could split in two: a coin-split. Now, with Bitmain’s hard fork announcement, it seems there could be a third part to the split. As we get closer to 1st of August and as there are lots of unknowns about the future of BTC awaiting us, you should expect BTC to either drops or rises sharply, The market direction by then is totally unknown and unpredictable. For that BTC holders will seek to diversify their BTC holdings or even temporary totally get out of their BTC position. If they decide to fiat, BTC will drop. It is much more likely that they will not fiat and decide to switch to alt diversification, in this case BTC price will spike sharply. Cause alts diversification usually leads to more alts diversification, which is actually the main reason why the whole crypto market is growing rapidly nowadays so expect more of such pattern sooner than later. In this case all alts will gain more market cap where XEM is more likely to gain the majority of which.
6- The closer we are to August with all the above listed concerns and market moves in addition to the release of Catapult, XEM might spike to 10x its current price mainly due to market circumstances.
7- Another scenario to consider: anyone who holds bitcoins at the time of a split will receive coins on both (or all) sides of the chain. In other words, you will get free "Bitmain bitcoins", which you can keep, sell or spend as long as someone is willing to accept them as payment. BTC holders might decide to hold BTC where BTC value might spike sharply over $20k. This might temporary stress ALTs market cap before it too spikes rapidly afterwards.
8- Rapid NEM technology adaption due to multiple advantages over other cryptos + NEM network fees reduction.
9- The Japanese market support to NEM will sustain XEM value whenever a crypto bear market starts.
While there are a lot of unknowns. One thing for sure is that we are heading towards very remarkable days in the history of crypto market.
Why NEM is expected to shine during that period? Cause with Catapult XEM will be stronger than ripple where it is expected to gain more than 50% of ripple market cap or at least grow equally "in the range of 10 to 15 Billion Market cap". By then the top 2 cryptos BTC+Ethereum on top of NEM will be totally unstable though spiking sharply. That will fuel more market cap flow to NEM in addition to the other top 10 cryptos.
Not trying to be a dbag, and don't take this the wrong way, but while I appreciate the optimism and really really hope you're correct in your NEM will gain 10x value assertation, there is very little in your post that could be considered factual statements... Most of it reads as wishful thinking and a justification made to fit your beliefs, not reflecting the reality of the crypto landscape right now.. and there really will be no telling which way will be up or down when Aug 1 comes around. Nem community does not seem to be growing, if anything it could be argued that it's stagnating mightily with barely 8 to 10 million dollars in transactions most days. The assumption that people will flock to nem in order to diversify is wishful thinking. Don't get me wrong, people could very well flock to nem because it's relatively cheap per unit compared to others, but people could just as easily stampede in another direction.. there really is no way to tell. Japanese market support is close to nil from what I can see, I don't see how you think that will sustain nem if things do indeed go south. |
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There definitely needs to be a disconnect for alts from bitcoin. It goes down and it drags everything else with it, because everything is linked to it. All transactions in or out of usd usually happen in BTC (though that's starting to change with ETH)
if you could trade usd for whatever alt from these stupid exchanges and bypass btc entirely, it wouldn't be half bad
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img] That's how noobs understand crypto currency.  How many noobs agree with that? Was the picture designed by you? "not even Blockchain" .... ? ? ? The picture was not made by me. The point is that the NEM administration needs to do video clips explaining all the advantages of NEM. After all, potential investors should understand without deep discussion. That in NEM it is worth investing. Do you think that potential investors believe what someone has written to some picture, which has no link to the source ? The bottom line is that NEM is wasting time. Without aggressive intellectual advertising about NEM technology. Potential investors will not be very interested in buying NEM. Now the formation of the market. Ethereum, will soon catch up with the capitalization of bitcoins and will not give in to it in the future. NEM on its technology should be in coinmarcet in 3 place. But even with a catapult and without aggressive advertising. NEM will be more expensive than now, but will not be 3 number. I think right now is a very delicate time for NEM, I really wish they would step up their advertising game from nothing to at least zero. The lack of information coming from the foundation/corporation whatever you want to call it looks amatuerish in comparison to others. I know the popular line here is "ninja releases" like it's something great. Those people are just trying to spin things to justify what really amounts to piss poor communication/marketing. There is no hype and build up to some newly released feature and in the end nobody knows about it or what it does or anything else, other than a select few. How does flying under the radar benefit anyone, exactly? |
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Hey guys, I searched and couldn't find the exact answer I was looking for anywhere, so I'll ask it here.
When Digibyte came out I was a pretty big believer in it, was mining it for awhile with 2 3xr9 280x card machines. I was able to accumulate about 800k to a million or so ( don't remember exactly how much)
Anyway I pulled the hard drives from those machines and set them aside. Now I see DGB rising from the ashes and I'm wondering what's the bet way to go about getting back into my wallet since it's been several years since I was last in it. I still have the dgb wallet address, pass code, and all the files and folders (.wlt file, etc)
What do you think would be the best way of updating things and getting access back to my dgb?
download the new client and just drop the wlt file in the new folder after it syncs?
I'm unsure how to proceed because I don't want to screw it up lol
any help would be appreciated.
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So for those of you who are really experienced buying/selling/trading, I'm using Litecoin as an example, but can anyone tell me if this is correct?
Lets say I bought 10,000 litecoins 5 years ago. I sat on those coins for a few years and decide I want to cash them out today, all $240,000 usd worth.
I make an account at an exchange, say poloniex. They welcome my 10,000 LTC deposit with open arms, and I promptly exchange them for bitcoins.
Now I have $240,000 worth of BTC, roughly 137 of them. I want to transfer to coinbase so I can convert to usd. Now what?
poloniex has a withdraw limit of $2,000 usd per day though.
So I'm stuck doing $2000 btc withdraws to coinbase for the next 120 days?
Ok say I verify now it's 10k per day. Now it'll only take me 24 days of withdrawls at 10k. All the while the price is fluctuating like mad.
is this correct?
or can I transfer the entire 137 btc amount at once from polo to my coinbase btc wallet?
So it finally gets to coinbase. Now I have to verify some more and say I'm at 25k per withdrawl.
I still have to wait another 10 days of 25k withdrawls to get my money out of coinbase.
Is this really how it works? Nobody lets you withdraw your money at once or in large chunks?
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So a few thoughts & observations from watching coinmarketcap this week.
as I type this the total market cap is over $52 BILLION.
I remember a few months ago it was around 21 Billion total.. so a TON of new money has flooded into crypto in the last 6+ months
Bitcoin's Dominance is at an all time low, only 52%
Looking at the top 10-20 coins, it looks like there's a flood of people trying to get in on the "penny" coins trying to cash in on the next big thing. all the "major" coins, bitcoin, eth, dash etc. are all well over $50-100 apiece, too much for anyone to really try and gain some cash from speculating.
Nem, Ripple, Lumens etc have all had tremendous gains recently, and they're all the ones that were or are a few cents.
Even with Nem's meteoric rise in price, it's still only trading with a fraction of the volume of the other penny coins, $45 million vs. $300+ million for ripple and lumens.. I don't know if this is a good or a bad thing but it's worth noting.
Nem is now at $0.13 with a 1.2 billion marketcap. I think it's stuck in that self serving cycle right now. Price and interest is up, so more buy in/out, which increases popularity, which increases price, rinse and repeat.
Who knows where this rollercoaster ends but personally I don't see why we can't end up with a market cap like ripple somewhat soon. The amount of nem and how cheap they are make it seem like it's possible. 6-7 billion cap i think is in reach, barring a major slide in everything.
and lastly, This has all been done without catapult or any large earth shattering corporate partnership. (I'm aware that some companies are testing some aspects of nem out) but once something goes mainstream with one of these tech deals coupled with catapult's release, we could really be onto something if that happens.
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such volatility in the market today, it's been a rollercoaster day. High was $.055 and just shy of a 500 million market cap, then a big drop down to the $300 mil market cap twice.. before rebounding to $.049 and 440 mil market. Volume has been well above average with over $20 million for going on 2 days now. Wonder where we'll settle.
In another matter, anyone have any suggestions how I should go about doing this?
I haven't logged into nem on my pc in probably 8 or 9 months, and I know the install is way out of date. I moved to a new house and only have 3mbps dsl here, so trying to update the blockchain would be a big no go.
If I fire my wallet up will it prompt me to upgrade or will I have to do it manually beforehand?
what if I use the android wallet? Do I just need the account address and private key and I should be able to see my balance on my phone right?
I'm not sure how to proceed, any advice would be welcome..
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been watching XEM and its steady rise but right now it looks like its a pump. be alert for a big dump soon
it's already happening, hit 408 million market cap there for a bit, now back down under etc. Volume almost doubled when the price started dropping. |
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Any idea what price NEM can hit at the end of 2018 ?
0.1 - 0.2 USD/XEM That feels more like the target for 2017 considering we are already at 0.025 USD/XEM. There is a lot of room for NEM to grow, and a billion dollar marketcap already puts it in your range. While that would be nice, it seems a little excessive. We would be talking about a fourfold increase from a $250ish mil marketcap to $1billion.. that would put us right at about $.11/nem, which would be nuts if it were the case. Don't get me wrong, I'm hoping it happens but I think realistically by the end of the year we are probably looking at around a $500 mil marketcap, that would put us roughly at around $.05/nem. Unless something new comes out or has a meteoric rise that "catapults" itself over us  See what I did there? |
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One thing I don't understand about nem, maybe you guys can help explain it.
On our best days, we may hit $1 million in volume.. normally it's around $500,000 give or take.
All the other coins in the top 15 are at least $2 million volume, others are at 15, 28, 11, and 5 million
Why is the volume so low for a coin with a market cap of over $100 million? Not a whole lot of buying and selling going on obviously, so how is the cap so high?
or is that based on the value of the coin? Like if nem were valued at $1 each, our trade volume would be tens of millions, but since it isn't, volume is only 500k?
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some slow steady upward movement these last couple of days, hopefully we start to gain some momentum and burst into the mainstream as more and more adopt over.
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Correct me if I'm wrong, but isn't catapult basically a rebuild of mijin with more features added, written in C++
I'm all for this coin and hope it does well, but maybe you guys can answer some questions since we've got some downtime in here.
Mijin came out, and while it was a tech advancement and a great thing, it failed to raise much interest or movement in the market.
So why are expectations sky high when it comes to the release of catapult? Do you guys really think it will send NEM into the stratosphere once that feature is released?
What makes you all think that, other than hope that this coin does well?
Not trying to troll, I'm genuinely interested in the responses as to WHY you all think we will see some serious movement and widespread acceptance.
NEM is technically superior to everything out there, of that there is no doubt. But the market doesn't always go with the superior product..
Taking things a step further, let's take a look at the top 10 coins.
The total market cap for the top 10 is: 14,070,943,757. So 14 billion and change.This will increase as the years pass, but nobody knows by how much or even if it's a certainty that it will increase.
Let's say that NEM muscles it's way back up to it's previous high of $115 million market cap, NEM value $0.01, and it would be at #5 marketcap.
Now let's say that NEM pushes it's way up to 3rd place, with a cap of $240 million. NEM value, $0.02.
Now NEM moves up to 2nd place, and manages a 1 Billion dollar market cap like ether had. NEM value, $0.11
It's gonna take a tremendous amount of time and new money into crypto for that to happen, because the others in the top 10 will most likely still be there.
So I'm really curious how far you guys think catapult will "catapult" NEM when it comes to marketcap and price, and just how you think it'll get there.
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None of these coins are getting higher because of some "mobile" element, the defining moment that can be said is when a coin has achieved mass adoption.
Otherwise it's just devs and the same people who bought into the coin pumping it up.
Mobile app is good marketing and, a well-designed one, should ease the learning curve for new users. http://prefundia.com/blog/getting-to-100000-users-paypals-60m-referral-program-that-nobody-knows-about/PayPal spent $60 million on their referral program. User adoption is expensive and, with exception of flukes like Tumbler and Facebook, many companies had to spend $10s of millions to get their users. From this, you can see why crypto has struggled with mass adoption. Bitcoin foundation barely has any money and Ethereum itself only raised like $20 million and promptly spent it all. To get all the Joes and Janes on board, you probably have to spend $50+ million on just marketing / advertisement and wisely at that. I think NEM will be the first crypto project to have a world class marketing budget. There's 2 marketing funds added up to 450,000,000 XEM. Developers / non-profit has to wait until $1,350,000,000 marketcap or $0.15 XEM and then they'll have like $67 million to utilize. $67 million could fund a few 30-second TV ads, probably do a ton of YouTube and social media ads, product placements, interviews on popular talk radio, et cetera. To think Ethereum has already hit that marketcap but they were too amateur, inexperienced and lacked pre-launch foresight to think about long-term marketing & advertisement. I think facebook caught fire in it's early days, it filled that void with myspace declining, and much of it's growth was through word of mouth. People knew others who had it, and since it was the new "big" thing it caught on in a big way. I think the mobile wallet will be huge if/when it comes out, as long as it doesn't take years to arrive. If it's mobile, secure and easy to use that will be a big upward driving factor, people being able to buy/sell/trade from their phones is a giant advantage, especially since everyone has a mobile phone within a foot of them pretty much at all times. A $1.35bn market cap would be huge.. but I don't think there's enough room in crypto right now for something that large without something else huge taking a big tumble. At the present the real big boys are btc and eth, and it's hard to see anything taking them down to usurp that market share without some kind of catastrophic event happening for either. Hell, even the dao fiasco didn't hurt etc much, it has recovered quite nicely. I guess time will tell what the future has to offer, I like what nem has going for it, but am cautiously optimistic about it's future. History has shown that people don't always go with the brightest and best.. hopefully nem will break that trend. |
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