Why is Nem growing so fast?

[yubsep]

All users holding XEM for long-term investment.. I bought it when the price was 210 satoshi...
I think XEM will be up-trending to 10k satoshi after 2-3 weeks...

[1715193498]

1715193498

[1715193498]

1715193498

[iamnotback]

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.

i never asked for anyone to trust myself or anyone else. i just gave my opinion on the matter. you can trust my opinion if you wish or your can do your home work. either way, you will find nem is quite a lot different to any other crypto in many many ways. it really does buck the trend. what you take from my post is entirely up to you.

I am just making the point that trust has nothing to do with it. Your "Proof-of-importance" (don't tell anyone it is really just proof-of-stake) technology has nothing to do with it.

The price is moving up because someone is manipulating the price.

[partysaurus]

All users holding XEM for long-term investment.. I bought it when the price was 210 satoshi...
I think XEM will be up-trending to 10k satoshi after 2-3 weeks...

it gains pretty fast so far last weeks has been nice i got in at 500 satoshi so im pretty happy

[Nxtblg]

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.

I got out of NEM when it was only (!) 300-400 satoshis. Best guess I have, it's getting a lot of buying from Japan because its tech is being used by a big-league payment remitter and at least one company that's tied to a Japanese big bank. (Please note: I'm not talking about NEM itself, I'm talking about its tech.)

In a sense, me selling way too soon is my bad for being too parochial: I barely know anything about the Japanese.

Suffice it to say, there's a lot of demand coming from folks that have nothing to do with this here corner of the Internet. In a very real sense, it's a wake-up portent for the time when crypto becomes more mainstreamed. What happens if (say) Lisk captures the fancy of a whole bunch of folks that aren't interested in Bitcointalk? Folks like me will prolly think that (say) Lisk has gone insanely high because we won't be able to figure out where the demand is coming from.

Until The DAO mishap, we saw the same thing with Ethereum: its growth came outside of these confines, so at some level it was hard to believe.

[gentlemand]

Suffice it to say, there's a lot of demand coming from folks that have nothing to do with this here corner of the Internet. In a very real sense, it's a wake-up portent for the time when crypto becomes more mainstreamed. What happens if (say) Lisk captures the fancy of a whole bunch of folks that aren't interested in Bitcointalk? Folks like me will prolly think that (say) Lisk has gone insanely high because we won't be able to figure out where the demand is coming from.

Yup. That's the key to the next step in crypto. It really needs to leave this cesspit behind.  

There'll be more coins that take off with virtually nothing to do with this place, and all the clapped out dogshit that people masturbate over here will be forever left in the dust. That's an entirely healthy and necessary thing.

[iamnotback]

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.

i never asked for anyone to trust myself or anyone else. i just gave my opinion on the matter. you can trust my opinion if you wish or your can do your home work. either way, you will find nem is quite a lot different to any other crypto in many many ways. it really does buck the trend. what you take from my post is entirely up to you.

I am just making the point that trust has nothing to do with it. Your "Proof-of-importance" (don't tell anyone it is really just proof-of-stake) technology has nothing to do with it.

The price is moving up because someone is manipulating the price.

wrt PoI, Here is the formula.  

The importance score, ψ, is calculated as follows:

ψ = (normalize1(max(0, ν + σwo)) + ˆπwi)χ

where:
normalize1(v) is: vkvk
ν  is the vested amount of XEM
σ is the weighted, net outlinking XEM
πˆis the NCDawareRank score
χ is a weighting vector that considers the structural topology of the graph
wo, wi are suitable constants

as you can see, "v" which could be considered the proof of stake part of the algorithm, is a part, but not the only part, nor is it the majority. so no it is not proof of stake, but it is a component in the overall algorithm.

"The price is moving up because someone is manipulating the price." -> is any buy on any market anything less than intentional or unintentional market manipulation? i have no interest with disputing whether it is market manipulation or not. if that is your opinion then so be it. its not my loss.

The reputation/rank aspect is just proof-of-stake in transactions. It has the same properties of proof-of-stake wherein your stake determines how much rank you realistically have (and not just lose it all to transaction fees).

Yes everything is a "manipulation" (i.e. a trade), but the difference is that in order to move a price up vertically like that requires significant concentration of the tokens into one manipulator's control. That isn't necessarily bad or good, depending on your perspective of good and bad. It carries certain risks, which include that the manipulator can crash the price when he is ready to short.

I am just advocating honesty:

1. NEM doesn't have any new technology. It is a rehash of same old technology.

2. NEM's price is being manipulated to the upside as of this moment by someone with control over most of the float.

You don't need to take that as an insult or criticism. Just take it as a being fair and factual.

[Sebastien256]

How many NEM coin are in circulation and not hold by the NEM team? I am not sure if the total marketcap is fake. Thanks for giving an accurate answer.

[iamnotback]

How many NEM coin are in circulation and not hold by the NEM team? I am not sure if the total marketcap is fake. Thanks for giving an accurate answer.

Ask for proof also. Words are meaningless.

[rigel]

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.

i never asked for anyone to trust myself or anyone else. i just gave my opinion on the matter. you can trust my opinion if you wish or your can do your home work. either way, you will find nem is quite a lot different to any other crypto in many many ways. it really does buck the trend. what you take from my post is entirely up to you.

I am just making the point that trust has nothing to do with it. Your "Proof-of-importance" (don't tell anyone it is really just proof-of-stake) technology has nothing to do with it.

The price is moving up because someone is manipulating the price.

wrt PoI, Here is the formula.  

The importance score, ψ, is calculated as follows:

ψ = (normalize1(max(0, ν + σwo)) + ˆπwi)χ

where:
normalize1(v) is: vkvk
ν  is the vested amount of XEM
σ is the weighted, net outlinking XEM
πˆis the NCDawareRank score
χ is a weighting vector that considers the structural topology of the graph
wo, wi are suitable constants

as you can see, "v" which could be considered the proof of stake part of the algorithm, is a part, but not the only part, nor is it the majority. so no it is not proof of stake, but it is a component in the overall algorithm.

"The price is moving up because someone is manipulating the price." -> is any buy on any market anything less than intentional or unintentional market manipulation? i have no interest with disputing whether it is market manipulation or not. if that is your opinion then so be it. its not my loss.

The reputation stuff is just proof-of-stake in transactions. It has the same properties of proof-of-stake wherein your stake determines how much rank you realistically have (and not just lose it all to transaction fees).

Yes everything is a "manipulation" (i.e. a trade), but the difference is that in order to move a price up vertically like that requires significant concentration of the tokens into one manipulator's control. That isn't necessarily bad or good, depending on your perspective of good and bad. It carries certain risks, which include that the manipulator can crash the price when he is ready to short.

I am just advocating honesty:

1. NEM doesn't have any new technology. It is a rehash of same old technology.

2. NEM's price is being manipulated to the upside as of this moment by someone with control over most of the float.

You don't need to take that as an insult or criticism. Just take it as a being fair and factual.

I must correct you:

1) NEM has some unique features. As an example the only multisig implementation where you can add and remove cosigners.

2) how can you be sure of manipulation? You are just supposing it.

[NUFCrichard]

Is removal of a multisig enough to give a $133million market cap?

I mean it is almost as big as LTC! It won't be in 1 month, I am 99% certain.

[iamnotback]

I must correct you:

1) NEM has some unique features. As an example the only multisig implementation where you can add and remove cosigners.

2) how can you be sure of manipulation? You are just supposing it.

1. Yeah it might have some minor features that other coins don't have. Please explain why these are really important and justify a $133m mcap.

2. The chart of a non-manipulated coin looks like the following with never getting more than 4X gain off any low (note rpietila caused the spike at the start):

http://coinmarketcap.com/currencies/monero/

[Sebastien256]

How many NEM coin are in circulation and not hold by the NEM team? I am not sure if the total marketcap is fake. Thanks for giving an accurate answer.

Ask for proof also. Words are meaningless.

Well, I very well undertand the concept of proof, but an "official" number from a trusted team member would be satisfying for me at the moment.  

[gentlemand]

Well, I very well undertand the concept of proof, but an "official" number from a trusted team member would be satisfying for me at the moment.  

It's all accessible info. Check it out here.

http://blockexplore.in/search/richlist/

https://i.imgur.com/LZMkGLr.png

Quite a bit's been held back for further development and promotion and the addresses are publicly labeled.

[Sebastien256]

Well, I very well undertand the concept of proof, but an "official" number from a trusted team member would be satisfying for me at the moment.  

Um, it's all out in the open and completely accessible.

http://blockexplore.in/search/richlist/

https://i.imgur.com/LZMkGLr.png

Quite a bit's been held back for further development and promotion and the addresses are publicly labeled.

An actual number as a pourcentage would be great  

[gentlemand]

If I remember rightly distribution to regular humanoids was somewhere around the 71% mark.

https://forum.nem.io/t/nem-distribution-stats/811

[iamnotback]

If I remember rightly distribution to regular humanoids was somewhere around the 71% mark.

https://forum.nem.io/t/nem-distribution-stats/811

How do we know they aren't Sybils for the same entity? How do we know they didn't sell cheap to the manipulator?

See I think the bottom line value will be the actual technology of the project. The price will rise high and then crash to the true value in the project.

[gentlemand]

I do not have a clue.

[rigel]

I must correct you:

1) NEM has some unique features. As an example the only multisig implementation where you can add and remove cosigners.

2) how can you be sure of manipulation? You are just supposing it.

1. Yeah it might have some minor features that other coins don't have. Please explain why these are really important and justify a $133m mcap.

2. The chart of a non-manipulated coin looks like the following with never getting more than 4X gain off any low (note rpietila caused the spike at the start):

http://coinmarketcap.com/currencies/monero/

I never told marketcap was due the unique features of Nem.
Just pointing out your wrong words.

I don't really know the reason of the ride. I have few ideas I'll keep for me.

[iamnotback]

I never told marketcap was due the unique features of Nem.

Yes we agree. It is not.

Just pointing out your wrong words.

So what is wrong in my words 

[rigel]

I never told marketcap was due the unique features of Nem.

Yes we agree. It is not.

Just pointing out your wrong words.

So what is wrong in my words 

1. NEM doesn't have any new technology. It is a rehash of same old technology.

2. NEM's price is being manipulated to the upside as of this moment by someone with control over most of the float.

1 was wrong

2 was uncertain

that's all