That's 100% true. We may create automated stabilisation of currency price but transaction price must be free to decide as far as system has it's % on it.

All I want to say:


I hope that legally and by soul we will create new economy based on digital decentralised Consumer cooperatiion: http://en.wikipedia.org/wiki/Consumer_cooperative
In many countries it has status of non profit or have much lover taxation.

Consumer cooperatives are enterprises owned by consumers and managed democratically which aim at fulfilling the needs and aspirations of their members. They operate within the market system, independently of the state, as a form of mutual aid, oriented toward service rather than pecuniary profit. Consumers' cooperatives often take the form of retail outlets owned and operated by their consumers, such as food co-ops and other groups operating in areas such as health care, insurance, housing, utilities and personal finance (including credit unions).

We need to be better then others.
1) Fast and easy transactions on smartphones (not more then 10 sec)
2) Fixed transaction fee at fixed speed of proceding
3) Transaction expances must be not higher then those with banking processing centers, VISA and Master Card
4) Ideally automated processing original credit or debit card transactions with payment to the parties and stakeholders as commision(bonus) (maybe we need own processing center or something like opensource google wallet)
5) Algorithm to automaticly calculate emition of new money based on condition of stabilisation fund.
We can use a) premined billions secured in automated account or transaction algorithm b)internal system commision on transactions to develop stabilization fund and regulate speed of market growth.
6) To ballance even better - we need automaticly controlled deflation not higher then 96%, 48%, 24%, 12%, 6% in future years and 0% inflation suppotred by stabilisation fund
7) Later on we may need to implement rating system and be open to current legal system - create way to show real identity by paypal or banking account validation if person or company wants. If system will be really big we will show the rules - not government))

It's huge challange but it may make the difference for human future. Just think that with this system we can have great deflation at lunch to have rapid growth, then our coin become new international independent payment system, more stabile then any government or banking system.. And system mast be fair. If you're early bird you will have some passive income at begining but it will not last long as amount of transactions is growing and you're not participating.

Regards, Yurij

Thanks for your support ) I think it's nice idea to start discussion about this. It's easy to build such network if we will make stable (protected from falling down, slowly growing) currency and real time smartphone transactions. You can use it in automated convenience shops and retail shop transactions.   It will be a little harder to create paypal for crypto transactions. Idea with NXT/NEM ratings may help with auction model but we will need real company to handle fraud insurance as paypal does. Also I think we must think about fast and slow transactions. I don't want to be able to loose all my money in seconds. I want to have transaction limits on everyday accounts and easy to use few steps verification model for really big transactions.  I am not a criminal so it's ok if to protect my money I may disclose my identity. It's even ok to send my NEMs to bank and connect it to my debit card.
Who want to discuss it?

Regards, Yurij

Thanks for your comment )
I understand that it's task for years. But if we talk about real new economy model and not about new virtual currency we must solve or show how do we plan to solve the issues.
Issues are:
Premined distribution will be always unfair. This will lead to new clones and many people will just don't like to pay to early investors many times more then early investors payed.
Transactions must be more user friendly for everyday use and motivate to make transactions. Why to buy next cryptocoin? why it's better? why it's price will grow? why nothing better can be cloned, made so I will loose my investment coze users will switch to another cryptocurrency? How can I help system in other way then just buying more NEMs? Why is it going to be not speculative currency? Or I was wrong and this is just an experiment in creating virtual gold and listing it in exchanges for people who like to play in short transactions?

There only two things you can do to make me trust in your good intentions to change economy:
1. Emit only small amount of NEMs now
2. Promise new currency NEM v.2.0 based in some percent in NEM v 1.0 and most in emited for real goods transaction NEMS with stabilization fund and dividend ownership model

Regards, Yurij



 

Hello community!
I have some ideas )
1. I see that most people see NEM here as speculative investment tool. They hope to be one of the first, register few accounts, and then to make profit of selling their share to new comers. It's 100% human nature but it has nothing to do with NEM idea.
Speculative currency is not good currency in any way. If it's not a good currency it's speculative game on virtual goods and nothing more.
2. So we need to dial with that.
a) Use envy human nature to build project but
b) stabilize it as secure and not speculative tool in the future.

First of all it have sense to make participation in project "profitable" on later stages too. That's what bitcoin did - you can earn by virtual transactions (mining). We can't pay for POW and it's not good idea to have huge commissions on POS as it will stop people from transactions. How can we do this?
a) emit new coins from main account (1% per month) and send them to all stakeholders.  So for every 100 NEM in next 5 years every month you will receive 1 new NEM. You become richer. Your "profit" is stable. It's better then in bank but still reasonable. It's inflation but it's not so risky as everyone receive new money and it's not forever. On other side it's motivate people to buy more NEM as they will gain more NEMs. Think of that as global nongovernmental corporation which pays dividends to all it's citizens. Another source of dividends will be described later.
b) generate money from any other source. (will be described later.)

3, Now it's good time to think how to connect real money with virtual. Why do people are afraid of using virtual money?

a) it's not convenient for retail. Too long to wait. Not as easy ass paypass. Wallmart will never use it.  It's not secure: No way to restore stolen money. No transaction limits. No heuristic fraud protection. With mindwallet money can be stolen on your eyes and hidden inside network and thief mind. If person said he forgot pass - you will never see your money again. Government have real tools to make any cryptotrade illegal. There no ready to use solutions to make fair trade with verified parties and companies who have will to disclose their identity for legal, tax and insurance reasons. No paypal for new economy as for now. System is not going to pay taxes from transactions so governments will be really unhappy and this make crypto economy reason to change world taxation system. No more taxes on transactions and on money generation by dividends. How to source community needs in future?  As for now I think it's huge political and technical challenge.

b) it's not covered by real economy at all. It price changes so quickly as there no buffer. Some countries protect their currencies by investing in gold, dollars, euro and many other currencies. So if demand is changing they can emit new money or sell other currencies.  
But still this buffer is based on other unreal currencies. Better protection is in price real material goods. We may try to generate algorithm to create BTC/NEM buffer for some % of our economy but BTC is speculative and sometimes can bring more risk then stability. So we need to have buffer in real money.  How to make it? Sell NEMS for dollars? Almost impossible at this stage and who will organize it in decentralized economy.
We need to earn. How? Simplest answer is commission. 1% of exchange price or any real goods trade agreement should go to the cryptoeconomy as new NEM and currency which covers it.

4. We are close to the solution. How to motivate people sell real goods for NEMs? We do not need to force anybody to do so. Imagine  NEM ebay with NEM paypal who share revenue with system, contractors and generate buffer. It may look like this:
- X bought from Y laptop for 300$ in NEM auction
- NEM auction earned 5% or 15$, 10$ net income
- NEM auction buys NEMS for this 10$ in automated exchange
- and send 30% of this NEMs to X and 30% to Y, 30% to all system stakeholders proportionally to amount of their NEM, and 10% to insurance and stabilization fund.

The rule to buy NEMs for $ and share them with parties and stakeholders it's just a fair trade policy. Anybody will see is it right and decide if he want to participate and organize auction or other business with this rules. There must be free market but for the beginning main account may sell NEMS for transactions a bit cheaper then their market value to motivate people.  This way we will have "mining by trade".  We may think even harder and state that only way to get NEMS is to trade with real goods. Still we will need to protect from "virtual real transactions".
 NEM auction may pay taxes and be 100% legal.
We always have NEM auction who need NEMs and people who sell this NEMS to get $ again. But most of them will stay with NEMs to get dividends. And also we may have stabilization fund which will automatically sell $ if NEM price goes down for more then 2%.
Another security measure may be algorithm of fair exchange. Transactions must be put in query of individual NEM proposals divided to small amounts and mixed  with other peoples NEMs who want to change NEM to money too. Speed of query must be slow to point when it makes useless to try to destabilize economy to play on short selling. Everyone will loose the same amount.
This way we will pomp real transactions in the system, create stabilization fund and motivate people to earn more NEMS to receive more dividends income. People become owners of their own corporation. The more you help corporation to grow - the more revenue is sent back to you. If you destabilize it, speculate - you loose as everyone else.


What do you think?