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Author Topic: Why is Nem growing so fast?  (Read 3767 times)
ashapasa
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June 27, 2016, 06:48:24 PM
 #1

I am just amazed it raised in price in a couple of weeks? What's the reason, I don't see much nem news that can cause such a rise. I like nem but present growth feels like a pump? Or am I missing something others clearly see.
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June 27, 2016, 07:06:06 PM
 #2

No reason.  If there was, the charts wouldn't look like this:

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Bokelka
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June 27, 2016, 07:28:40 PM
 #3

The chart indicates the buyers are very patient, they spend the last 6 months to accumulate the cons. there might be a dump soon.
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June 27, 2016, 08:22:36 PM
 #4

I think it's a great project and have plenty of XEM but I don't have the slightest clue why this is happening. The obvious reason is ETH/DAO money looking for something else to play with.

Having said that there are some very cool developments happening but they're almost all in Asia so most people on here will have little awareness of them. It has a CNY pairing in China and may hit a JPY exchange in the coming days.
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June 27, 2016, 08:42:47 PM
Last edit: June 27, 2016, 10:17:31 PM by SydorFunk
 #5


Having said that there are some very cool developments happening but they're almost all in Asia so most people on here will have little awareness of them. It has a CNY pairing in China and may hit a JPY exchange in the coming days.


Reason is right there.  NEM has partnerships with the Japanese government and banks; as well as in Malaysia and Myanmar.  This is why the price is exploding. Posters do your homework.

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June 27, 2016, 09:59:07 PM
 #6

I am just amazed it raised in price in a couple of weeks? What's the reason, I don't see much nem news that can cause such a rise. I like nem but present growth feels like a pump? Or am I missing something others clearly see.

If you read the last 5 or so pages of the announcement thread you will see some news hits and more info.  It is an asia based coin so like someone said we are not seeing much of the news here in western countries.

I love Bitcoin
antiscam2000
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June 27, 2016, 10:15:34 PM
 #7

Distribution is/was rigged from day 1 - it rises like a marinecoin or etherscam.
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June 27, 2016, 11:45:01 PM
 #8

I am just amazed it raised in price in a couple of weeks? What's the reason, I don't see much nem news that can cause such a rise. I like nem but present growth feels like a pump? Or am I missing something others clearly see.


NEM is the New Economy Movement. It has always strived for healthy long term organic growth and partnership with dem real world

~CfA~

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June 28, 2016, 12:58:27 AM
 #9

my vote is....
...... NEM
New Economy Movement

lol really a giveaway coin that the lead dev admitted to scamming  Roll Eyes please

No one from NEM has answered this question yet:

1. NEM was a wide distribution to 1000s of stakeholders and only around 65 BTC was collected.

I don't believe the insiders didn't get a lot of tokens. Prove it with math and/or the block chain. How were these "stakeholders" selected? Why were they able to coins but not others? How do we know these "stakeholders" are not Sybils identities for the insiders?

Almost always there is some deception that enriches the insiders and always the market to manipulated (which may explain NEM's rising price if the supply was largely concentrated into a few hands). Not an accusation, but I will assume it is true until shown otherwise, because every single altcoin launch has had some deception.
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June 28, 2016, 01:11:47 AM
 #10

i know its very easy to assume that there MUST be some kind of deviousness involved somewhere along the line, but that has never been the case with nem. its a major reason why i supported nem wholeheartedly from the beginning and will continue to do so for years to come.

So we must trust you.

So just like how Mark Karpeles was our hero until he wasn't?

Why didn't you make a WoT to codify the level of decentralized trust in the system, so the decentralized trust is more verifiable.

What are the names of all these people I am asked to trust? Who trusts whom within that? What are their backgrounds and past performances? Etc...

Again I am not making accusations. I am just suggesting that if you want the market to trust you, you should be able to show information that helps to establish the trust.
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June 28, 2016, 01:12:38 AM
 #11

I am a stakeholder. I just checked to see if I'm a pathetic cypher of the sinister team behind this. I am not. I checked twice.
iamnotback
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June 28, 2016, 01:13:46 AM
 #12

I am a stakeholder. I just checked to see if I'm a pathetic cypher of the sinister team behind this. I am not. I checked twice.

Who are you? What is your background? Why should the market trust you? And the others.

71 guys got together and gave themselves all the Nxt too. And see how that turned out for the investors.

Oh gee, let's all print some tokens and give them to ourselves for 65 BTC, and then we will convince others to buy our tokens.

Let's name it New Economy Movement, so that no one will really focus on the fact that Proof-of-Importance is really just Proof-of-stake.

If we have enough of ourselves to hype it, then the market will think it has a lot of support. We don't really need to talk frankly about the technology. We can put up press releases about how the Japanese Banks are working with us.

Good marketing plan. Kudos.
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June 28, 2016, 01:17:01 AM
 #13

Gosh.

I mainly sit around posting shite. I like the sea, lovely walks in the country and train journeys for no particular reason.

Should the market trust me? I don't see why not but the market really doesn't care about little old me. And all I do is buy from it occasionally. I'm aiming to spend eventually, not sell. 

Just occasionally there are real human beings involved in cryptoland. I am one of them.

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June 28, 2016, 01:28:21 AM
 #14

It's crazy to think about a 9 billion supply coin is worth 1700 sat each. Expect it won't last too long.

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LemonAndFriesOne
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June 28, 2016, 03:25:05 AM
 #15

People getting mad because they put down NEM and now look at the results of hard work and patience.

 Tongue
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June 28, 2016, 04:02:28 AM
 #16


Having said that there are some very cool developments happening but they're almost all in Asia so most people on here will have little awareness of them. It has a CNY pairing in China and may hit a JPY exchange in the coming days.


Reason is right there.  NEM has partnerships with the Japanese government and banks; as well as in Malaysia and Myanmar.  This is why the price is exploding. Posters do your homework.

Nice catch, SydorFunk. Yes, this may be the reason people investing in NEM has a lot of faith in the coin.
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June 28, 2016, 04:14:18 AM
 #17

People getting mad because they put down NEM and now look at the results of hard work and patience.

 Tongue

Chillax. No worries, as altcoins are always manipulated pumps (otherwise they are scorned market failures):

https://bitcointalk.org/index.php?topic=1413819.msg15390617#msg15390617

It is not particular criticism of NEM. It is just the way altcoin speculation is. Fundamental developments don't matter as much as price manipulation. Gold fever. Get rich quick.

So it really doesn't matter if Proof-of-Importance is just technobabble obfuscation of Proof-of-stake. Technology isn't really the #1 important factor. Manipulated upward price is.

Giving away stake is a good way of insuring the tokens end up concentrated with a manipulator. Either they are given directly to the manipulator, or those who received them free then dump them and the manipulator buys them for peanuts.

The manipulator was accumulating when NEM was below $1m mcap for 1 year:

http://coinmarketcap.com/currencies/nem/
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June 28, 2016, 05:32:30 AM
 #18

it's been around for more than 2 years:

key difference is that NEM devs listened and are making a currency that anyone can use.

this is the number 1 reason why so many other fail while NEM is surging right now, they focused on usability
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June 28, 2016, 07:51:19 AM
 #19

Been with nem since the start and it has been really good to me!

Not planning on selling my stake yet, been patient for 2 years already, can wait a bit longer. Just wondering how high this can go.. Growth seems a bit too fast now imo.

On the other hand, it was probably severely undervalued compared to to other coins so it may just be correcting to where ot should be priced.
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June 28, 2016, 08:33:14 AM
 #20

I am just amazed it raised in price in a couple of weeks? What's the reason, I don't see much nem news that can cause such a rise. I like nem but present growth feels like a pump? Or am I missing something others clearly see.

Because there is a growing consensus that token platforms like NXT, WAVES or NEM will be huge when the decentralised fiat gateways are ubiquitous.


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